Document:

Amendment No. 2 to the Amended and Restated Revolving Credit Agreement

 EXHIBIT 10.3 
  
 AMENDMENT NO. 2 
  
 AMENDMENT NO. 2 (this “Amendment No. 2”) dated as of May 2, 2005 to the Revolving Credit Agreement referred to below, between CHART
INDUSTRIES, INC., a Delaware corporation (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”); and JPMORGAN CHASE BANK, N.A., as administrative agent for the Lenders (in such capacity, together
with its successors in such capacity, the “Administrative Agent”). 
  
 The Borrower, the Subsidiary Guarantors, each of the lenders party thereto and the Administrative Agent are parties to an Amended and Restated Revolving Credit Agreement dated as of September 15, 2003 (as heretofore
modified and supplemented and in effect immediately prior to the effectiveness of this Amendment No. 2, the “Revolving Credit Agreement”). The Borrower, the Subsidiary Guarantors, the Lenders and the Administrative Agent wish to
amend the Revolving Credit Agreement to increase the commitment thereunder and, accordingly, the parties hereto hereby agree as follows: 
  
 Section 1. Definitions. Except as otherwise defined in this Amendment No. 2, terms defined in the Revolving Credit Agreement are used herein as
defined therein. 
  
 Section 2. Amendments. Subject to the
satisfaction of the conditions precedent specified in Section 4, but effective as of the date hereof, the Revolving Credit Agreement shall be amended as follows: 
  
 2.01. General References. References in the Revolving Credit Agreement (including references to the Revolving 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 Revolving Credit Agreement as
amended hereby. 
  
 2.02. Defined Terms. Section 1.01 of
the Revolving Credit Agreement is hereby amended as follows: 
  
 A. The following new definition shall be inserted in the appropriate alphabetical location: 
  
 “Amendment No. 2 Effective Date” means the date on which Amendment No. 2 dated as of May 2, 2005 to this Agreement shall
become effective. 
  
 B. The definition of “Commitment”
shall be amended by replacing the last sentence thereof with the following two sentences: “The aggregate amount of the Lenders’ Commitments is $55,000,000 as of the Amendment No. 2 Effective Date. Notwithstanding anything herein to the
contrary, on January 31, 2006 JPMCB’s Commitment as then in effect shall be permanently reduced by an amount equal to $15,000,000.” 
  
 Amendment No. 2 

 - 2 - 
  

 2.02. Schedule I. Schedule I to the Revolving Credit Agreement shall be amended in its entirety
and replaced with Schedule I to this Amendment No. 2. 
  
 2.03.
Letters of Credit. Section 2.04(c) of the Revolving Credit Agreement is hereby amended in its entirety to read as follows: 
  
 “(c) Limitations on Amounts. 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 total LC Exposures of the Issuing Lenders (determined for these purposes
without giving effect to the participations therein of the Lenders pursuant to Section 2.04(e) and, without duplication, including the aggregate undrawn face amount of the Existing Letters of Credit and the CHEL Letters of Credit continued and
outstanding hereunder as Letters of Credit pursuant to Sections 2.04(l) and 2.04(m), respectively) shall not exceed $40,000,000 and (ii) the total Credit Exposures shall not exceed the total Commitments.” 
  
 Section 3. Representations and Warranties. The Borrower represents and
warrants to the Lenders that, except as provided in Schedule 1 to the Consent and Waiver dated as of April 26, 2005, (a) the representations and warranties set forth in Article IV of the Revolving 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 IV to “this Agreement” included reference to this Amendment No. 2 (or if any such representation or warranty is expressly stated to have been made as
of a specific date, as of such specific date) and (b) immediately before and after giving effect to the amendments set forth in Section 2 of this Amendment No. 2, no Default shall have occurred and be continuing. 
  
 Section 4. Confirmation of Security Documents. Each of the Obligors
hereby confirms and ratifies all of its obligations under the Credit Documents to which it is a party, including its obligations as a guarantor under Article III of the Credit Agreement as amended hereby. By its execution on the respective signature
lines provided below, each of the Guarantors hereby confirms and ratifies all of its obligations and the Liens granted by it under the Security Documents as amended hereby to which it is a party, represents and warrants that the representations and
warranties set forth in such Security Documents as amended hereby are complete and correct on the date hereof as if made on and as of the date hereof and confirms that all reference in such Security Documents as amended hereby to the “Revolving
Credit Agreement” (or words of similar import) refer to the Revolving Credit Agreement as amended hereby without impairing any such obligations or Liens in any respect. 
  
 Section 5. Conditions Precedent. The amendments set forth in Section 2 of this Amendment No. 2 shall become effective
as of the date (which shall occur no later than May 2, 2005) upon which each of the following conditions is satisfied: 
  
 (a) Amendment No. 2. The Administrative Agent shall have received of one or more counterparts of this Amendment No. 2 executed by
each of the Obligors and the Administrative Agent (with the written consent of the Required Lenders and each Lender whose Commitment hereunder is being increased as result of this Amendment No. 2). 
  
 Amendment No. 2 

 - 3 - 
  

 (b) Fees. The Borrower shall have paid all fees required to be paid by it in
connection with this Amendment No. 2. 
  
 (c)
Legal Opinion. The Administrative Agent shall have received a favorable written opinion (addressed to the Administrative Agent and the Lenders), dated as of the effective date of Amendment No. 2, of Calfee, Halter & Griswold LLP, as
counsel for the Obligors, and such other counsel to the Obligors satisfactory to the Administrative Agent, relating to the Obligors, this Amendment No. 2 and the Revolving Credit Agreement as amended hereby, in form and substance reasonably
satisfactory to the Administrative Agent. 
  
 (d)
Corporate Authorization. The Administrative Agent shall have received such documents and certificates as the Administrative Agent or its counsel may reasonably request relating to the authorization of and any other legal matters relating to
the Obligors, this Amendment No. 2, the transactions contemplated hereby and the Revolving Credit Agreement as amended hereby, all in form and substance reasonably satisfactory to the Administrative Agent. 
  
 (e) No Default. The Administrative Agent shall have
received a certificate signed by the President, a Vice President or a Financial Officer of the Borrower to the effect set forth in Section 3 hereof. 
  
 Section 6. Miscellaneous. Except as herein provided, the Revolving Credit Agreement shall remain unchanged and in full force and effect. The
Borrower shall pay all reasonable expenses incurred by the Administrative Agent (including the reasonable fees, charges and disbursements of Milbank, Tweed, Hadley & McCloy LLP, special New York counsel to JPMorgan Chase Bank, N.A.) in
connection with the preparation, negotiation, execution and delivery of this Amendment No. 2. This Amendment No. 2 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. 2 by signing any such counterpart. This Amendment No. 2 shall be governed by, and construed in accordance with, the law of the State of New York. 
  
 Amendment No. 2 

 - 4 - 
  

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 2 to be duly executed by their
respective authorized officers as of the day and year first above written. 
  

			
	CHART INDUSTRIES, INC.
		
	By:	 	 /s/ Michael F. Biehl

	Name:	 	Michael F. Biehl
	Title:	 	Chief Financial Officer and Treasurer

  
 Amendment No.
2 

 - 5 - 
  

			
	 SUBSIDIARY GUARANTORS

	
	CHART HEAT EXCHANGERS LIMITED PARTNERSHIP
		
	By:	 	 /s/ Michael F. Biehl

	Name:	 	Michael F. Biehl
	Title:	 	Chief Financial Officer and Treasurer
	
	CHART INTERNATIONAL, INC.
		
	By:	 	 /s/ Michael F. Biehl

	Name:	 	Michael F. Biehl
	Title:	 	Chief Financial Officer and Treasurer
	
	CHART MANAGEMENT COMPANY, INC.
		
	By:	 	 /s/ Michael F. Biehl

	Name:	 	Michael F. Biehl
	Title:	 	Chief Financial Officer and Treasurer
	
	CHART LEASING, INC.
		
	By:	 	 /s/ Michael F. Biehl

	Name:	 	Michael F. Biehl
	Title:	 	Chief Financial Officer and Treasurer
	
	CHART INC.
		
	By:	 	 /s/ Michael F. Biehl

	Name:	 	Michael F. Biehl
	Title:	 	Chief Financial Officer and Treasurer

 Amendment No. 2 

 - 6 - 
  

			
	CHART INTERNATIONAL HOLDINGS, INC.
		
	By:	 	 /s/ Michael F. Biehl

	Name:	 	Michael F. Biehl
	Title:	 	Chief Financial Officer and Treasurer
	
	CHART ASIA, INC.
		
	By:	 	 /s/ Michael F. Biehl

	Name:	 	Michael F. Biehl
	Title:	 	Chief Financial Officer and Treasurer
	
	NEXGEN FUELING INC.
		
	By:	 	 /s/ Michael F. Biehl

	Name:	 	Michael F. Biehl
	Title:	 	Chief Financial Officer and Treasurer
	
	COOLTEL, INC.
		
	By:	 	 /s/ Michael F. Biehl

	Name:	 	Michael F. Biehl
	Title:	 	Chief Financial Officer and Treasurer
	
	GTC OF CLARKSVILLE, LLC
		
	By:	 	 /s/ Michael F. Biehl

	Name:	 	Michael F. Biehl
	Title:	 	Chief Financial Officer and Treasurer
	
	CAIRE INC.
		
	By:	 	 /s/ Michael F. Biehl

	Name:	 	Michael F. Biehl
	Title:	 	Chief Financial Officer and Treasurer

  
 Amendment No. 2

 - 7 - 
  

			
	COASTAL FABRICATION, LLC
		
	By:	 	 /s/ Michael F. Biehl

	Name:	 	Michael F. Biehl
	Title:	 	Chief Financial Officer and Treasurer

  
 Amendment No. 2

 - 8 - 
  

			
	JPMORGAN CHASE BANK, N.A.,
	as Administrative Agent
		
	By:	 	 /s/ Henry W. Centa

	Name:	 	Henry W. Centa
	Title:	 	Senior Vice President

  
 Amendment No.
2 

 - 9 - 
  

 SCHEDULE I 
  
 Commitments 
 (after giving effect to
this Amendment No. 2) 
  

				
	 Lenders

	  	Commitments ($)

	 General Electric Capital Corporation
	  	 	24,740,000.00
	 JPMorgan Chase Bank, N.A.
	  	 	20,000,000.00
	 OCM Principal Opportunities Fund II, L.P.
	  	 	4,913,000.00
	 Carl Marks Strategic Investments, L.P.
	  	 	3,000,000.00
	 Audax Chart, LLC
	  	 	2,347,000.00
	 	  	
	

	 TOTAL
	  	$	55,000,000.00
	 	  	
	

  
 Amendment No. 2

 CONSENT 
  

dated as of April 26, 2005 
  
 Re:        Chart Industries, Inc. 
  
 Reference is made to (i) the Amended and Restated Revolving Credit Agreement dated as of September 15, 2003 between Chart
Industries, Inc. (the “Borrower”), the Subsidiary Guarantors, the Lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent (as amended and in effect on the date hereof, the “Revolving Credit
Agreement”) and (ii) the Term Loan Agreement dated as of September 15, 2003 between the Borrower, the Subsidiary Guarantors, the Lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent (as amended and in effect on the
date hereof, the “Term Loan Agreement” and, together with the Revolving Credit Agreement, the “Credit Agreements”). Except as otherwise defined in this Consent, terms defined in the respective Credit Agreements are
used herein as defined therein. 
  
 A. Each undersigned Lender
which is a party to the Term Loan Agreement (each a “Term Lender”) hereby consents and agrees to the following: 
  
 (i) an increase of $15,000,000 in the aggregate amount of the Indebtedness permitted to be incurred under the Revolving Credit Documents
as provided in Section 7.01(b) of the Term Loan Agreement from $40,000,000 to $55,000,000 (the “Revolving Credit Commitment Increase”) (and, without further action, effective upon the effectiveness of the Revolving Credit Agreement
Amendment referred to below, the amount of “$40,000,000” referred to in said Section 7.01(b) shall be deemed amended to “$55,000,000); 
  
 (ii) an increase in the maximum principal or face amount of the Revolving Credit Obligations (as defined in the Collateral Agency and
Intercreditor Agreement) entitled to Lien priorities under Section 3.01 of the Collateral Agency and Intercreditor Agreement, as provided in Section 3.04 thereof, from $40,000,000 to $55,000,000, in conjunction with the Revolving Credit Commitment
Increase contemplated in clause (i) above (and, without further action, effective upon the effectiveness of the Revolving Credit Agreement Amendment referred to below, each reference to the amount of “$40,000,000” contained in said Section
3.04 shall be deemed amended to “$55,000,000”) (and, in that connection, each Term Lender hereby authorizes and directs the Collateral Agent party to the Collateral Agency and Intercreditor Agreement and the Administrative Agent under the
Term Loan Agreement to execute this Consent acknowledging and agreeing to such amendment); 
  
 (iii) the execution and delivery by the parties thereto of an amendment to the Revolving Credit Agreement, in order to effect the increase
in the commitments under the Revolving Credit Agreement contemplated above, in substantially the form of the amendment attached as Exhibit A hereto (the “Revolving Credit Agreement Amendment”), pursuant to which JPMorgan Chase Bank,
N.A. (the “Incremental Revolving Credit Lender”) (but no other Lender under the Revolving Credit Agreement) shall increase its commitment under the Revolving Credit Agreement by $15,000,000 on the terms set forth therein; and

  
 Consent 

 (iv) the amount of the Revolving Credit Commitment Increase (and all extensions of credit
thereunder) shall be senior in all respects and prior to any Lien on the Collateral securing any of the Term Loan Obligations (as defined in the Collateral Agency and Intercreditor Agreement). 
  
 B. Each undersigned Lender which is a party to the Revolving Credit Agreement
(each a “Revolving Credit Lender” and, together with each Term Lender, each a “Lender”) hereby consents and agrees to : 
  
 (i) the Revolving Credit Agreement Amendment and authorizes and directs the Administrative Agent to execute and deliver the Revolving
Credit Agreement Amendment on behalf of such Lender; and 
  
 (ii) the modifications of the Collateral and Intercreditor Agreement contemplated above (and, in that connection, each Revolving Credit Lender hereby authorizes and directs the Collateral Agent party to the Collateral
Agency and Intercreditor Agreement and the Administrative Agent under the Revolving Credit Agreement to execute this Consent acknowledging and agreeing to such amendment). 
  
 This Consent shall become effective upon: 
  
 (i) in the case of the Term Lenders, receipt by JPMCB as the Administrative Agent under the Credit
Agreements (the “Administrative Agent”) of one or more counterparts of this Consent executed by each of the Obligors and each of the Required Lenders (as defined in the Term Loan Agreement); 
  
 (ii) in the case of the Revolving Credit Lenders, receipt by
the Administrative Agent of one or more counterparts of this Consent executed by each of the Obligors and each of the Required Lenders (as defined in the Revolving Credit Agreement) but, in any event, by the Incremental Revolving Credit Lender; and

  
 (iii) payment to the Administrative Agent for
the account of each Term Lender which has executed this Consent prior to 5:00 p.m. (New York City time) Tuesday, April 26, 2005, of an upfront fee equal to 0.10% of the Loan (as defined in the Term Loan Agreement) held by such Term Lender.

  
 This Consent shall be construed in accordance with and
governed by the law of the State of New York. 
  
 Consent

 IN WITNESS WHEREOF, the undersigned has caused this Consent to be duly executed and delivered by its
proper and duly authorized officer as of the date first above written. 
  

			
	NAME OF LENDER:
	
	  

		
	By:	 	  

	Name:	 	 
	Title:	 	 

  
 Consent

			
	AGREED TO AND ACKNOWLEDGED BY:
	
	CHART INDUSTRIES, INC.
		
	By	 	  

	Name:	 	 
	Title:	 	 
	
	CHART HEAT EXCHANGERS LIMITED PARTNERSHIP
		
	By	 	  

	Name:	 	 
	Title:	 	 
	
	CHART INTERNATIONAL, INC.
		
	By	 	  

	Name:	 	 
	Title:	 	 
	
	CHART MANAGEMENT COMPANY, INC.
		
	By	 	  

	Name:	 	 
	Title:	 	 
	
	CHART LEASING, INC.
		
	By	 	  

	Name:	 	 
	Title:	 	 

			
	CHART INC.
		
	By	 	  

	Name:	 	 
	Title:	 	 
	
	CHART INTERNATIONAL HOLDINGS, INC.
		
	By	 	  

	Name:	 	 
	Title:	 	 
	
	CHART ASIA, INC.
		
	By	 	  

	Name:	 	 
	Title:	 	 
	
	NEXGEN FUELING INC.
		
	By	 	  

	Name:	 	 
	Title:	 	 
	
	COOLTEL, INC.
		
	By	 	  

	Name:	 	 
	Title:	 	 
	
	GTC OF CLARKSVILLE, LLC
		
	By	 	  

	Name:	 	 
	Title:	 	 

			
	CAIRE INC.
		
	By	 	  

	Name:	 	 
	Title:	 	 
	
	COASTAL FABRICATION, LLC
		
	By	 	  

	Name:	 	 
	Title:	 	 

			
	 ACKNOWLEDGED AND AGREED:
 (as to the
amendments to the Collateral Agency and Intercreditor Agreement contemplated above):

	
	 JPMORGAN CHASE BANK, N.A.,
 as Revolving
Credit Agent

		
	By	 	  

	Name:	 	 
	Title:	 	 
	
	JPMORGAN CHASE BANK, N.A.,
	as Term Loan Agent
		
	By	 	  

	Name:	 	 
	Title:	 	 
	
	 JPMORGAN CHASE BANK, N.A.,
 as Collateral
Agent

		
	By	 	  

	Name:	 	 
	Title:Description of 2005 Incentive Plan for Executive Officers

 EXHIBIT 10.4 
  
 Description of the Chart Industries, Inc. 2005 Incentive Plan for Executive Officers 
  
 Chart Industries, Inc. (the “Company”) historically has maintained a cash bonus
plan administered by the Compensation Committee of its Board of Directors (the “Committee”). The purpose of the bonus plan is to provide an incentive to employees to enhance stockholder value. The Committee historically determines which
employees of the Company are eligible to participate in the bonus plan for a fiscal period, establishes specific performance targets to be achieved during that fiscal period and approves specific bonus amounts under the plan, which are tied to the
targets. Executive officers of the Company historically have participated under specific terms of the broader cash bonus plan approved by the Committee. The actual bonuses payable under the cash bonus plan for a fiscal period, if any, will vary
depending on the extent to which actual performance meets, exceeds or falls short of the target approved by the Committee, as determined by the Committee. 
  
 On January 26, 2005, the Committee adopted the Chart Industries, Inc. 2005 Employee Incentive Compensation Plan (the “2005 Incentive Plan”) for the
Company’s 2005 fiscal year. In connection with its adoption of the 2005 Incentive Plan, the Committee determined that that the following executive officers are eligible to participate in the 2005 Incentive Plan: Samuel F. Thomas, President and
Chief Executive Officer; Michael F. Biehl, Chief Financial Officer and Treasurer; and Charles R. Lovett, Vice President—Manufacturing. The Committee also approved the financial targets for fiscal 2005 under the 2005 Incentive Plan. The
financial target approved by the Committee as it relates to these executive officers is the Company’s achievement of a specified amount (the “Year-End Target”) of consolidated earnings before interest, taxes, depreciation,
amortization and restructuring costs, subject to certain adjustments (“EBITDAR”), for fiscal 2005. The potential 2005 cash bonus amounts payable under the 2005 Incentive Plan approved by the Committee are based on percentages of the 2005
base salaries of Messrs. Thomas, Biehl and Lovett, which are $400,000, $213,200 and $173,349, respectively. 
  
 Under the 2005 Incentive Plan, Messrs. Thomas, Biehl and Lovett could receive 2005 cash bonuses equal to 100% of their respective 2005 base salaries, if the Company achieves the Year-End Target EBITDAR for fiscal
2005. Messrs. Thomas, Biehl and Lovett could receive 2005 cash bonuses equal to 150% of their respective 2005 base salaries, if the Company exceeds the Year-End Target EBITDAR for fiscal 2005 by approximately 11% or more. Messrs. Thomas, Biehl and
Lovett will not receive any 2005 bonuses if the Company falls short of the Year-End Target EBITDAR by approximately 19% or more, unless a minimum cash bonus is earned under the terms disclosed below. Subject to any such minimum bonus, each executive
officer will receive a graduated 2005 cash bonus payout based on his 2005 base salary for the Company’s achievement of between approximately 81% and 111% of the Year-End Target EBITDAR. Each executive officer must be employed by the Company at
the end of 2005 to be eligible for a bonus payment under the 2005 Incentive Plan, except in the case of an earned minimum cash bonus where the executive officer has been involuntarily terminated from employ with the Company. 
  
 In addition to approving the Year-End Target, on January 26, 2005 the Committee approved a
mid-year target related to the 2005 Incentive Plan for Messrs. Thomas, Biehl and Lovett, which is the Company’s achievement of a specified amount (the “Mid-Year Target”) of consolidated 

 
EBITDAR for the first half of fiscal 2005. If the Company achieves or exceeds the Mid-Year Target EBITDAR for the first half of fiscal 2005, Messrs. Thomas,
Biehl and Lovett will earn a minimum cash bonus under the 2005 Incentive Plan equal to 50% of their respective 2005 base salaries, which cannot be reduced based on subsequent Company financial performance in 2005 and will be paid as part of and at
the same time as payments of cash bonuses under the 2005 Incentive Plan generally. If the Mid-Year Target EBITDAR is not achieved, no minimum cash bonus payment would be earned for 2005. 
  
 The Committee has the authority to determine the Company’s actual performance against the Year-End Target and Mid-Year Target. It also
has the discretion to adjust the bonuses that otherwise might be payable to Messrs. Thomas, Biehl and Lovett based on unforeseen events or other circumstances as it deems appropriate in good faith. Any 2005 cash bonuses payable under the 2005
Incentive Plan will be paid no later than March 15, 2006. 
  
 Forms of the
conditions pursuant to which bonuses may be earned by executive officers under the annual 2005 Incentive Plan or the minimum cash bonus component are filed with this description as Exhibits 10.5 and 10.6, respectively.

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