Document:

EX-10.2

Exhibit 10.2

PERSONAL AND CONFIDENTIAL

REVISED 

OVERSEAS CONTRACT

January 4, 2005

Mr. Wilson Sun

42b Kadoorie Avenue

Kowloon, Hong Kong

Dear Wilson:

The conditions and terms of your assignment in Hong Kong as President, Asia Pacific for York
International Corporation effective January 1, 2005 are detailed as follows:

1. DEFINITIONS

	 	A.	 	“Family” is the employee’s spouse, unmarried dependent
children, and other persons living with the employee who are considered
dependents as defined by income tax regulations.

	 	B.	 	“Foreign Location” is a location situated outside of the
employee’s home country.

	 	C.	 	“Home Country” is normally the employee’s country of
citizenship, or the country of the employee’s permanent home residence
immediately prior to being assigned to a foreign location, as established by
York International Corporation prior to commencement of the foreign assignment.
For the purpose of the O.R.C. (Organization Resources Counselors, Inc.)
International Compensation Tables, the “home country” is defined as “U.S.A.”.

	 	D.	 	“Point of Origin” is that home country location to which York
International Corporation assumes the obligation to return the employee at
certain times during the foreign assignment, and at completion of assignment or
termination. The employee and York International Corporation shall designate
the point of origin, which will remain unchanged during the period of foreign
assignment.

2. PHYSICAL EXAMINATION

Once annually during the period of assignment, the employee is eligible for a
physical examination at York International Corporation’s expense. The examination
should be scheduled to coincide with home leave or business trips to the home
country.

3. IMMUNIZATIONS AND INOCULATIONS

The employee shall obtain, at York International Corporation’s expense, the
immunizations and inoculations required for travel through and/or residence in a
foreign country.

4. PASSPORTS AND VISAS

Necessary passports and visas for the employee shall be obtained by the employee at
York International Corporation’s expense.

5. RELOCATION ALLOWANCE AND REIMBURSEMENTS

A. Shipment and Storage of Household Goods

York International Corporation will pay the costs of packing, unpacking,
insuring, transporting and storage of furniture, household goods and
personal effects. Personal items and household goods of immediate use only
may be shipped air freight to the new location. All other goods and
furniture shall be shipped by Sea Freight up to a maximum of 10,000 pounds
and limited to one shipment from one location.

Prior to shipping goods to the foreign location, the employee shall submit a
detailed list of all items to be shipped, showing the value of each item.
This list is required for shipping, customs clearance and personal property
reimbursement should emergency evacuation later be necessary.

B. Travel

York International Corporation will pay for business class air
accommodations between the employee’s point of origin and the foreign
location for the employee and accompanying family members. The employee and
family members will be reimbursed for excess baggage charges for up to one
additional suitcase per traveler.

The employee and accompanying family members will be reimbursed for
incidental travel expenses including baggage handling and gratuities, and
local ground transportation at departure, stopover and terminal points. All
expenses shall be submitted for reimbursement on properly documented expense
reports.

Time spent in transit in excess of normal air travel time will be deducted
from the employee’s vacation time.

C. Temporary Housing

Should the employee be required to vacate the home country residence prior
to departure for the foreign location, due to rental/sale of the residence
and/or lack of household furnishings, the employee shall be reimbursed for
the cost

of temporary housing and reasonable living expenses for a maximum of two (2)
weeks.

Upon arrival at the foreign location, the employee shall be reimbursed for
temporary housing and living expenses incurred for a period not to exceed
thirty (30) days.

6. COMPENSATION

A. Base Salary

The employee’s base salary shall be determined by the standards applied to
positions comparable to the employee in the employee’s home country. Any
merit increases shall be based on performance and position in the salary
range. Your Base Salary will be $335,000 U.S. annually, effective January
1, 2005.

B. Annual and Long-Term Incentives

The employee will participate in the Senior Management Incentive Plan and
Asia Profit Sharing Plan (annual bonus) as well as York International’s
executive long-term incentive programs consisting of a mid-term plan and
equity awards.

C. Housing

Employee will receive a housing allowance of $10,000 per month and payable
in Hong Kong.

D. Post Differential

The post differential is designed to ensure that the employee experience the
same purchasing power for goods and services at the foreign assignment that
they would experience in the home country. If the cost of the goods and
services is greater in the foreign location than the employee’s home
country, the differential is positive. The allowance will be negative if
the cost of goods and services is lower. The amount of the differential is
established by O.R.C. location tables according to base salary level and
family size, and is paid or deducted monthly. The post differential is
currently $4,552/month.

The post differential becomes effective the day the employee moves into
foreign location housing, and terminates the day they leave that housing at
the end of the foreign assignment.

F. O.R.C. Revisions

New O.R.C. tables are published when O.R.C. conducts a periodic pricing
review in the home country or foreign location, or when exchange rates vary
significantly. York International Corporation will review the latest tables
in January and July of each year and adjust any allowance and post
differential up or down in accordance with the O.R.C. tables and
recommendations.

G. Other Required Deductions

Required payments to home country social insurance or retirement
programs and the employee’s contribution to York International Corporation
sponsored benefit programs will be deducted from the home country portion of
the employee’s compensation.

The employee will be reimbursed for any payments required by foreign
government programs from which the employee will not receive full benefit.

7. TAX COUNSEL 

York International Corporation will reimburse the costs of a professional tax
counselor to assist the employee in preparing required tax returns in Hong Kong and
any other jurisdictions where tax returns are due. In addition, employee will be
required to report to YORK on a semi-annual basis any business travel to the U.S. to
facilitate U.S. tax compliance. Note, however, that the employee is solely
responsible for filing any required foreign and home country tax returns and
payments of all applicable taxes.

8. BENEFITS

A. Coverage

The employee will participate in CIGNA International medical, dental, vision
and prescription drug plans at no cost. The employee will also continue to
participate in any supplemental accident insurance and long-term disability
insurance plans, as well as the York International Retirement and Investment
Plan.

B. Calculations

For any benefit program where contributions are calculated according to
salary, only the employee’s base salary shall be used in such calculation.
Retirement benefits shall be calculated on base salary and cash bonus (if
applicable) only.

C. Foreign Location Benefits Payments

If the employee receives an allowance or any other social benefit payment
from the foreign location government, such payment shall be returned to York
International Corporation.

D. Cash Advances for Medical Charges

Should the employee require extensive medical care which results in
substantial charges at the foreign locations which must be paid in advance,
the Vice President Human Resources may approve a cash advance to cover
required advance medical payments.

E. Worker’s Compensation

In the event that the employee sustains a work-related accident or injury at
the foreign location, the Vice President Human Resources shall ensure that
the employee receives treatment and compensation at least equal to that
which the employee would have received had the accident or injury been
sustained in the home country. If foreign government compensation is
inadequate, York International Corporation will make any necessary payments
to the employee to ensure equitable treatment.

9. HOME LEAVE, VACATION TIME AND HOLIDAYS

A. Home Leave

The employee is eligible for Home Leave after twelve (12) continuous months
at the foreign location.

York International Corporation will pay for business class round-trip
airfare by the most direct route, for the employee between the foreign
location and the point of origin. York International Corporation will
reimburse the employee for reasonable meal expenses, hotel accommodations,
gratuities and miscellaneous transportation expenses between the foreign
location and the point of origin.

Any time spent on authorized York International Corporation business during
the Home Leave shall not be charged against Home Leave time.

Because the intent of the Home Leave is to keep the employee
acquainted with family and friends, and any changing political and social
conditions in the home country, York International Corporation will not
provide pay in lieu of Home Leave during the foreign assignments.

B. Vacation Time

The vacation policy of the home country will apply.

C. Legal Holidays

Legal holidays at the foreign location shall be observed by the employee and
shall not be counted against vacation time.

10. ASSISTANCE PROGRAMS

A. Educational Assistance

The educational assistance program is designed to ensure that the employee’s
children attending primary and secondary school at the foreign location
receive the education necessary for them to advance grades along with their
home country peers.

Should public schools at the foreign location not meet this objective, York
International Corporation will pay for tuition, books, required school
uniforms and transportation costs for each child attending an adequate
private school at the foreign location.

If no adequate school is available at the foreign location, York
International Corporation, in addition to the above costs, will pay for
room, board, and two round trips per year between the nearest adequate
school and the foreign location.

York International Corporation will use O.R.C. recommendations in
determining the adequacy of foreign location schools. Should the employee
decide to educate a primary or secondary school in the home country, York
International Corporation will pay only the allowance that would have been
paid for tuition, room, board, and travel to the nearest adequate school.
York International Corporation will not pay for pre-primary education at the
foreign location. If the employee’s dependent attends college in the home
country, York International Corporation will pay for one round trip
annually, economy class, between the dependent’s college and the foreign
location. If the dependent incurs higher tuition costs because the employee
is no longer a resident in the home country, York International Corporation
will reimburse the employee for the cost in excess of normal tuition for one
year only.

B. Car Allowance

York International Corporation will provide a car allowance for the employee
for the duration of the foreign assignment. The amount will be $600/month
effective January 1, 2005.

11. EMERGENCIES

A. Security

If the foreign location is considered hazardous due to political unrest or
terrorist activities, local management and the employee shall determine
proper security measures and necessary steps to be taken in the event of a
security problem.

B. Evacuation

Should evacuation be necessary because of civil strife, war, etc., York
International Corporation will pay for all temporary travel and living
expenses for the employee.

York International Corporation shall reimburse the employee for all
reasonable personal property losses incurred not otherwise covered by
insurance.

C. Personal Emergencies

Any expenses resulting from emergency situations which the employee feels
should be considered for reimbursement shall be submitted in writing to the
Vice President Human Resources, who may authorize reimbursement to the
employee if appropriate.

D. Death or Illness of Immediate Family in the home country

In the case of death or critical illness involving a dependent not
residing at the foreign location, York International Corporation will pay
for round-trip economy class airfare to and from the home country for the
employee. The same cost will be reimbursed for the employee in the event of
death or critical illness involving a parent, sister or brother or child.

E. Death of Employee

If the employee dies at the foreign location and burial is local, York
International Corporation will pay all burial costs.

If the body is returned to the home country, York International Corporation
will pay all expenses of embalming the body, preparing it for shipment,
required documentation, required shipment containers and transportation by
air service to the point of origin.

12. REASSIGNMENT, RETIREMENT, OR TERMINATION

A. Reassignment

If the employee is reassigned to another foreign location at the completion
of a foreign assignment, all applicable provisions of this policy shall
apply.

If the employee is reassigned to a home country York International
Corporation unit, the relocation policy of the receiving unit shall apply.

B. Retirement

If the employee retires upon completion of the foreign assignment, York
International Corporation will pay all shipping and travel costs, in
accordance

with this policy, for the employee to a home country location designated by the employee.

C. Termination

If the employee initiates termination, the employee shall give York
International Corporation a minimum of thirty (90) days notice. The
employee shall receive regular salary through the last day worked, and any
accrued vacation pay in accordance with home country policy provided the
required thirty (90) days notice is given.

If York International Corporation initiates termination, York International
Corporation shall give the employee a minimum of thirty (30) days notice.
The employee shall receive regular salary through the last day worked, and
severance and/or accrued vacation pay in accordance with home country
policy.

In accordance with this policy, York International Corporation will pay all
moving and transportation expenses to the point of origin for the terminated
employee, provided the employee returns to the point of origin within thirty
(30) days of termination. If the employee chooses to remain at the foreign
location following termination, York International Corporation shall make no
payment in lieu of moving or transportation costs. For York International
to assume the cost of moving or transportation should employee initiate
termination, the employee must have completed a minimum of one (1) year at
the foreign assignment.

Any additional termination provisions are addressed in the employee’s
Employment Agreement dated as of January 1, 2005.

D. Duration

It is anticipated that this assignment is for a period of three (3) years
or more, if agreeable to York International Corporation and Wilson Sun.
However, the Company’s policy of “employment at will” guarantees no
particular length or duration of employment. Additionally, the employment
of every individual is subject to the normal policies of the Company and its
benefit plans, as they may be revised from time to time. Upon successful
completion of the assignment, the employee will be provided a comparable
position within the Company, subject to the “employment at will provision”.

YORK INTERNATIONAL CORPORATION

     

C. David Myers Date

I hereby confirm that I have read the conditions and terms of this reassignment and I do accept the
assignment as President, Asia Pacific for York International Corporation.

	 	 	 
	     

Wilson Sun

	 	     

DateEX-10.n

Exhibit 10(n) Fourth Amendment to Credit Agreement

FOURTH AMENDMENT TO CREDIT AGREEMENT

THIS FOURTH AMENDMENT TO CREDIT AGREEMENT, dated as of March 30, 2005 (this “Amendment”), is
among KEITHLEY INSTRUMENTS, INC., an Ohio corporation (the “Company”), Subsidiary Borrowers
(referred to below and collectively with the Company, the “Borrowers”), the Lender (as referred to
below) and JPMORGAN CHASE BANK, N.A., a national banking association, successor by merger with Bank
One, NA, (Main Office Columbus), as Agent for the Lender (in such capacity the “Agent”).

RECITALS

A. The Company, certain Subsidiary Borrowers party thereto, the Lender party thereto and Agent
are parties to a Credit Agreement, dated as of March 30, 2001, as amended by a First Amendment to
Credit Agreement dated as of August 1, 2002, as amended by a Second Amendment to Credit Agreement
dated as of March 28, 2003, as amended by a Third Amendment to Credit Agreement dated as of March
30, 2004 (as now and hereafter amended, the “Credit Agreement”), pursuant to which the Lender
agreed, subject to the terms and conditions thereof, to extend credit to the Borrowers.

B. The Borrowers desire to amend the Credit Agreement and the Agent and the Lender are willing
to do so strictly in accordance with the terms hereof.

TERMS

In consideration of the premises and of the mutual agreements herein contained, the parties
agree as follows:

1. ARTICLE 1.

AMENDMENTS

Upon fulfillment of the conditions set forth in Article 3 hereof, the Credit Agreement shall
be amended as follows:

1.1 The definition of “Applicable Margin” in Section 1.1 shall be amended and restated to read
as follows:

“Applicable Margin” means (i) with respect to Loans denominated in Dollars at
any time, the percentage rate per annum which is applicable at such time with
respect to Advances of such Type as set forth in the Pricing Schedule, and (ii) with
respect to Eurocurrency Loans denominated in any Agreed Currency other than Dollars,
the margin quoted by the Agent and agreed to by the Company at the time such
Eurocurrency Loan is requested.

1.2 The definition of “Facility Termination Date” in Section 1.1 shall be amended and restated
to read as follows:

“Facility Termination Date” means March 31, 2008 or any later date as may be
specified as the Facility Termination Date in accordance with Section 2.26 or any
earlier date on which the Aggregate Commitment is reduced to zero or otherwise
terminated pursuant to the terms hereof.

1.3 The following definitions shall be added to Section 1.1 in appropriate
alphabetical order:

“Consolidated Interest Coverage Ratio” means the ratio of (i) Consolidated EBIT to
(ii) Consolidated Interest Expense, calculated as of the last day of each fiscal quarter of
the Company for the four consecutive fiscal quarters then ending.

“Pricing Schedule” means the Schedule attached hereto identified as such.

1.4 Section 2.5 shall be amended by deleting the reference in line three therein to
“one-quarter of one percent” and inserting “one-eighth of one percent” in place thereof.

1.5 A new Section 2.26 shall be added at the end of Article II to read as follows:

2.26.  Extension of Facility Termination Date. The Borrower may
request a one-year extension of the Facility Termination Date by submitting a
request for an extension to the Agent (an “Extension Request”) no more than 90 and
no less than 30 days prior to March 31 of each year, commencing March 31, 2006.
Promptly upon receipt of an Extension Request, the Agent shall notify each Lender
thereof and shall request each Lender to approve the Extension Request. Each
Lender approving the Extension Request shall deliver its written consent no later
than March 16 of each year. If the consent of each of the Lenders is received by
the Agent, the Facility Termination Date shall be extended by one year and the
Agent shall promptly notify the Borrower and each Lender of the new Facility
Termination Date.

1.6 Section 5.4 shall be amended and restated in its entirety to read as follows:

5.4 Financial Statements. The consolidated financial statements of the
Company and its Subsidiaries heretofore delivered to the Lenders were prepared in
accordance with generally accepted accounting principles in effect on the date such
statements were prepared and fairly present the consolidated financial condition and
operations of the Company and its Subsidiaries at such date and the consolidated
results of their operations for the period then ended.

1.7 Section 5.5 shall be amended by deleting the reference therein to “September 30,
2000” and inserting “September 30, 2004” in place thereof.

1.8 A Pricing Schedule shall be added to the Credit Agreement in the form of the
Pricing Schedule attached to this Amendment.

2. ARTICLE 2.

REPRESENTATIONS

Each Borrower represents and warrants to the Agent and the Lender that:

2.1 The execution, delivery and performance of this Amendment is within its powers, has been
duly authorized and is not in contravention with any law, of the terms of its Articles of
Incorporation or By-laws, or any undertaking to which it is a party or by which it is bound.

2.2 This Amendment is the legal, valid and binding obligation of the Borrower enforceable
against it in accordance with the terms hereof.

2.3 After giving effect to the amendments herein contained, the representations and warranties
contained in Article V of the Credit Agreement are true on and as of March 30, 2005 with the same
force and effect as if made on and as of March 30, 2005.

2.4 No Default or Unmatured Default exists or has occurred and is continuing on the date
hereof.

3. ARTICLE 3.

CONDITIONS OF EFFECTIVENESS

This Amendment shall not become effective until each of the following has been satisfied:

3.1 This Amendment shall be signed by each Borrower, the Agent and the Lender.

3.2 The Company shall have paid an amendment fee to the Agent in the amount of $2,500.

4. ARTICLE 4.

MISCELLANEOUS.

4.1 References in the Credit Agreement or in any note, certificate, instrument or other
document to the “Credit Agreement” shall be deemed to be references to the Credit Agreement as
amended hereby and as further amended from time to time.

4.2 The Company agrees to pay and to save the Agent harmless for the payment of all costs and
expenses arising in connection with this Amendment, including the reasonable fees of counsel to the
Agent in connection with preparing this Amendment and the related documents.

4.3 Each Borrower acknowledges and agrees that the Agent and the Lender have fully performed
all of their obligations under all documents executed in connection with the Credit Agreement and
all actions taken by the Agent and the Lender are reasonable and appropriate under the
circumstances and within their rights under the Credit Agreement and all other documents executed
in connection therewith and otherwise available. Each Borrower represents and warrants that it is
not aware of any claims or causes of action against the Agent or any Lender, any participant lender
or any of their successors or assigns.

4.4 Except as expressly amended hereby, each Borrower agrees that the Credit Agreement and all
other Loan Documents are ratified and confirmed and shall remain in full force and effect and that
it has no set off, counterclaim or defense with respect to any of the foregoing. Terms used but
not defined herein shall have the respective meanings ascribed thereto in the Credit Agreement.

4.5 This Amendment may be signed upon any number of counterparts with the same effect as if
the signatures thereto and hereto were upon the same instrument.

1

IN WITNESS WHEREOF, the parties signing this Amendment have caused this Amendment to be
executed and delivered as of March 30, 2005.

KEITHLEY INSTRUMENTS, INC.

By: /s/ Mark J. Plush

	 	 	 	Its: Vice President & Chief Financial

Officer

KEITHLEY INSTRUMENTS GmbH

By: /s/ Mark J. Plush

	 	 	 	Its: Managing Director

KEITHLEY INSTRUMENTS SARL

By: /s/ Mark J. Plush

	 	 	 	Its: Managing Director

KEITHLEY INSTRUMENTS LTD.

By: /s/ Mark J. Plush

	 	 	 	Its: Managing Director

KEITHLEY INSTRUMENTS SRL

By: /s/ Mark J. Plush

	 	 	 	Its: Managing Director

KEITHLEY INSTRUMENTS BV

By: /s/ Mark J. Plush

	 	 	 	Its: Director

KEITHLEY INSTRUMENTS SA

By: /s/ Mark J. Plush

	 	 	 	Its: Managing Director

KEITHLEY INSTRUMENTS KK

By: /s/ Mark J. Plush

	 	 	 	Its: Managing Director

KEITHLEY INTERNATIONAL

INVESTMENT CORP.

By: /s/ Mark J. Plush

	 	 	 	Its: Director / Secretary Treasurer

JPMORGAN CHASE BANK, N.A., successor by merger with
Bank One, NA (Main Office Columbus), as Agent, LC
Issuer and Lender

By: /s/ Henry W. Centa

	 	 	 	Its: Senior Vice President

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PRICING SCHEDULE

	 	 	 	 	 	 	 	 	 
	Applicable	 	 	 	 	 	 	 	 
	Margin
	 	Level I Status	 	Level II Status
	 	 	 	 	 
	Eurocurrency Rate
(Dollar denominated)
	 	 	0.40	%	 	 	0.75	%
	 
	 	 	 	 	 	 	 	 
	Floating Rate
	 	 	0	%	 	 	0	%
	 
	 	 	 	 	 	 	 	 

For the purposes of this Schedule, the following terms have the following meanings, subject to
the final paragraph of this Schedule:

“Financials” means the annual or quarterly financial statements of the Company delivered
pursuant to Section 6.1(i) or (ii).

“Level I Status” exists at any date if, as of the last day of the fiscal quarter of the
Company referred to in the most recent Financials, the Consolidated Interest Coverage Ratio is
greater than or equal to 3.00 to 1.00.

“Level II Status” exists at any date if, as of the last day of the fiscal quarter of the
Company referred to in the most recent Financials, the Company has not qualified for Level I
Status.

“Status” means either Level I Status or Level II Status.

The Applicable Margin shall be determined in accordance with the foregoing table based on the
Company’s Status as reflected in the then most recent Financials. Adjustments, if any, to the
Applicable Margin shall be effective five Business Days after the Agent has received the applicable
Financials. If the Company fails to deliver the Financials to the Agent at the time required
pursuant to Section 6.1, then the Applicable Margin shall be the highest Applicable Margin set
forth in the foregoing table until five days after such Financials are so delivered.

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