Document:

mpr8k2010tcexbj.htm

    Exhibit
(10)(bj)

    
 

    ISDA

     

     

     

    Schedule
to the Master Agreement

    

    

    dated
as of October 12,2005 between Brown Brothers Harriman &
Co (Party A)

    and
Met - Pro Corporation ( Party B)

     

     

     

    Part
I. Termination Provisions.

     

    (i)  "Specified
Entity" means
In relation to Party A for the purpose of:

     

    Section
5(a)(v):                              
  None

     

    Section
5(a)(vi):                                None

     

    Section
5(a)(vii):                               None

     

    Section
5(b)(iv):                               
None

     

    and
in relation to Party B for the purpose of:

     

    Section
5(a)(v):                             
   None

     

    Section
5(a)(vi):                                None

     

    Section
5(a)(vii):                               None

     

    Section
5(b)(iv):                                None

     

    (b) "Specified Transaction" will
have the meaning specified in Section 14 of this Agreement.

     

    I
The "Cross Default"
provisions of Section 5(a)(vi) will apply to Party A and to Party
B.
 

    In
connection therewith, Specified
Indebtedness will
not have the meaning specified in Section
14 and such definition shall be replaced by the following: "any obligation in
respect of
the payment of monies (whether present or future, contingent or otherwise, as
principal or surety or otherwise), except that such term shall not include
obligations in respect of deposits received in the ordinary course of a party's
banking business".

     

     

     

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    "Threshold
Amount" means
in relation to Party A, $10,000,000 or the equivalent thereof in any other
currencies, and, in relation to Party B, $10,000,000 or the
equivalent thereof in any

    other
currency.

     

     

    (d)
The "Credit
Event Upon Merger" provisions
of Section 5(b)(iv)

     

    will
apply to Party A and will apply to Party B.

     

    The
"Automatic
Early Termination" provision
of Section 6(a)

     

    will
not apply to Party A

     

    will
not apply to Party B

     

    (f)
"Payments
on Early Termination" For
the purpose of Section 6(e)

     

    (ii)   Market
Quotation will apply.

     

    (iii) The Second Method will
apply.

     

    (g) "Termination
Currency" means
U S Dollars

     

    (h) "Additional
Termination Events" shall
apply.

     

     

    Impossibility. The occurrence
of Impossibility shall also be a Termination Event, as to which
the Affected Party shall be the party subject to an Impossibility. For purposes
of this Agreement, "Impossibility" shall mean the occurrence of a natural or
man-made disaster, armed
conflict, act of terrorism, riot, labor disruption. Act of state or force
majeure or any other
circumstance beyond its control which makes it impossible (other than as a
result of its own
misconduct) for such a party to perform any absolute or contingent obligation,
to make a payment or delivery or to receive a payment or delivery in respect of
such Transaction or to comply with any other material provision of this
Agreement relating to such Transaction or whereby the convertibility,
transferability or ability to hold any currency has been materially impaired
between the date that the currency obligation has been entered into and the date
that the
currency is delivered

     

    Part
2

     

    Tax
Representations

     

    (a)           Payer Representations. For the
purposes of Section 3(e) of this Agreement:

     

    Each
party makes the following representation:

     

    It
is not required by any applicable law, as modified by the practice of any
relevant governmental revenue authority, of any Relevant Jurisdiction to make
any deduction

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    or
withholding for or on account of any Tax from any payment (other than interest
under Section 2 (e), 6(d)(ii) or 6(e) of this Agreement) to be made by it to the
other party under this agreement. In making this representation, it may rely on
(x) the accuracy of any representations made by the other party pursuant to
Section 3(f) of this
Agreement, (y) the satisfaction of the agreement contained in Section 4(a)(i) or
4(a)(iii) of this Agreement and the accuracy and effectiveness of any document
provided by the other party pursuant to Section 4(a)(i) or 4(a)(iii) of this
Agreement and
(z) the satisfaction of the agreement of the other party contained in Section
4(d) of this Agreement provided that it shall not be a breach of this
representation where reliance is placed on clause (y) and the other party does
not deliver a form or document
under Section 4(a)(iii) by reason of material prejudice to its legal or
commercial position.

     

    (b)
Payee
Representations:         
For the purposes of Section 3(f) of this Agreement,

    Party
A and Party B make no representation

     

    Part
3

     

    Agreement
to Deliver Documents.

     

    For
purposes of Section 4(a)(i) and (ii) of this Agreement, Party B agrees to
deliver the following documents:

     

    (a)
Tax forms documents or certificates to be delivered:

     

    None

     

    (iv) Other documents to be
delivered:

     

    

    
      	
              To
      be delivered by:

            	
              Form/Document/Certificate

            	 
      	
              Date
      by which to be

            	 
      	Covered
      by Section 3(d)
	 
      	 
      	 
      	
              delivered

            	 
      	Representation
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	
              Party
      A&B

            	
              Certified
      copies of all corporate authorizations
      and any documents with
      respect to the execution, delivery
      and performance of this Agreement.

            	 
      	
              Upon
      execution of this Agreement

            	
              Yes

            	 
	 	 	 	 	 	 	 
	Party
      A & B	Certificate
      of authority and specimen
      signatures of individuals executing
      this Agreement	 	Upon
      execution and delivery of this Agreement
      and thereafter upon
      request of the other party.	 	 	 

    

     

     

     

     

     

    
      Part
4. Miscellaneous

    

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    (a)
Addresses for Notices For the purpose of Section 12(a) of this
Agreement:

     

     

     

    Address
for Notices or communications to Party A

     

    Brown
Brothers Harriman & Co. Foreign Exchange Risk Management 140
Broadway

    New
York, NY 10005

    Attn:
Chief Credit Officer

    Telephone
No. 212 493 7885 Facsimile No. 212 493 8065

    SWIFT
Address: BBHCUS33

     

    Address
for Notices or Communications to Party B

    Met-Pro,
Attn: Gary J. Morgan, 160 Cassell Road, PO Box 144, Harleysville, PA
19438

     

    (b) Process
Agent.
For the purpose of Section l3(c) of this Agreement:

     

    Party A
None

     

    Party
B

    Met-Pro,
Attn: Gary J. Morgan, 160 Cassell Road, PO Box 144, Harleysville, PA
19438

     

    (c) Offices The
provisions of Section 10(a) will apply to this Agreement.

     

    (d) Multibranch
Party.
For the purpose of Section 10I of
this Agreement:

     

    Party A
is not a multibranch Party and will act only through its New York office.

    Party B
is not a multibranch Party.

     

    (e) The
calculation
agent will
be Party A.

     

    (f)
Credit
Support Document N/A

     

    (g) Credit
Support Provider None
in relation to either Party

     

    (h) Governing
Law    THIS
AGREEMENT WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF NEW YORK (WITHOUT REFERENCE TO CONFLICT OF LAW
DOCTRINE)

     

    (I) Netting
of Payments. Subparagraph (ii) of Section 2I of this Agreement will not
apply to all Transactions under this Agreement with effect from the date of this
Agreement.

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    
      (v) 
Affiliate will have the meaning specified in section 14 of this
Agreement. Each party and
its affiliates may share with each other any credit or other information
concerning the
other party and its affiliates.

    

     

    Part
5 Other Provisions

     

     

    
      (a)  Right
of Set-off In addition to any rights of set-off a [party may have as a matter of
law or
otherwise, upon the occurrence of an Event of Default with respect to a party
("Party X") or an Illegality or Credit Event Upon Merger where Party X is the
only Affected Party, the other party ("Party Y") will have the right (but not
the obligation) without prior notice to Party X or any other person to set-off
any obligation of Party X owing to Party Y or
any of its Affiliates, branches or offices (whether or not arising under this
Agreement, whether or not matured, whether or not contingent and regardless of
the currency, place of payment or booking office of the obligation) against any
obligation of Party Y or any of its Affiliates, branches or offices owing to
Party X (whether or not arising under this Agreement, whether or not matured,
whether or not contingent and regardless of the currency, place of payment or
booking office of the obligation). In order to enable Party Y to exercise its
rights of set-off, (I) Party Y may in good faith convert any obligation to
another currency at a market rate determined by Party Y and set-off in respect
of that converted amount and/or (ii) if an obligation is unascertained, Party Y
may in good faith estimate that obligation and set-off in respect of the
estimate, subject to the relevant party accounting to the other when the
obligation is ascertained. Nothing in this paragraph will be deemed to
constitute or create a charge or other security interest. For purposes of this
Agreement, other registered investment companies advised or sub-advised by Party
B's investment adviser or sub-adviser are not considered "Affiliates" of Party
B.

    

     
 

    
      (b) Waiver of Right to Trial by Jury.
Each of the parties hereby irrevocably waives any
and
all right to a trial by jury with respect to any legal proceeding or
counterclaim arising out of
or relating to this Agreement or any transaction.

    

     
 

    I
Inconsistency, In the
event of any inconsistency between any of the following documents, the
relevant document first listed shall govern; (i) A confirmation (ii) this
schedule, (iii) the definitions incorporated by reference in a Confirmation or
in this Agreement, and (iv) the printed
form of ISDA Agreement.

    

    (d)
Consent to Recording
Each party (i) consents to the monitoring or recording of all
dealing
conversations for all transactions covered by this Agreement, (ii) waives
further notice
of such recording, and (iii) agrees to notify its employees and officers, where
required by
law to do so, with respect to such recording. Any such recording may be
submitted to any court or any Proceeding for the purpose of establishing any
matters pertinent to this Agreement
or any Transaction.

     

     

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    (e)
Relationship between the
Parties. Each party will be deemed to
represent to the other party on the date on which it enters into a
Transaction that (absent a written agreement between
the parties that expressly imposes affirmative obligations to the contrary for
that Transaction)

    

    
      (vi)    
 Non-reliance
It is acting for its own account, and it has made its own independent decisions
to enter into that Transaction and as to whether that Transaction is
appropriate
or proper for it based ion its own judgment and upon advice from such advisers
it has deemed necessary. It is not relying in any communication (written or
oral)
of the other party as investment advice or as a recommendation to enter into
that Transaction, it being understood that information and explanations related
to the terms
and conditions of as Transaction shall not be considered investment advice or
as
a recommendation to enter into that Transaction. It has not received from the
other party any assurance or guarantee as to the expected results of that
Transaction.

    

     
 

    
      (vii)   
 Evaluation
and Understanding. It has the capacity to evaluate and understand (on its
own
behalf or through independent professional advice), and understands and accepts
the
terms, conditions, and risks of that Transaction. It is also capable of
assuming, and
assumes, the financial and d other risks of that Transaction.

    

     

    
      (viii)    Status
of Parties. The other party is not acting as a fiduciary or an adviser for it in
respect of that Transaction.

    

     

    

    
      (f)
 Confirmations.
Each Transaction Party A and Party B agree to enter into under this Agreement,
will be positively confirmed within twenty-four hours of execution, either
over
a taped telephone line or through an acceptable electronic confirmation
service.

    

     

    In
witness whereof the parties have executed this document on the respective dates
specified below with effect from the date specified on the first page of this
document

     

    

    

     

    
      	
              Brown
      Brothers Harriman &
      Co.

            	Met-Pro Corporation
      

               

            
	 	 
	 	 
	 	 
	By: /s/Thomas J.
      Saunder                         
      	By: /s/ Gary J.
      Morgan                          
      
	Name: Thomas J.
      Saunder	Name: Gary J.
      Morgan
	Title:
      SVP 	Title:   V/P
      Finance
	Date:
    10-12-05	Date:  
      10/12/2005 
	 	 
	 	 
	 	 
	 	 

    

     

     

     

    
      
        
        

      

      
        6mpr201002bv1exbk.htm

     

    
      	[English
      Translation]	
              Exhibit
      (10)(bk)

            
	 	
               

               

              Solid
      partners, flexible solutions

            

    

     

    
       

       

    

    
      	 	 	CONFIDENTIAL
      

              Mefiag
      B.V.

              Attn.
      the Management

              Magnesiumweg
      2

              8445
      PJ Heerenveen

            	 
	 	 	 	 
	 	 	 	 
	
               

               

              Date 

              Our reference 

              Re

            	  	
               

               

              19
      October 2005

              
                K.
      Dijkstra /nh

                General
      Credit Offer

              

            	Fortis Bank
      

              
                (Nederland)  N.V.

              

              
                Business
      Centre

                IJsselland

                Snipperlingsdijk
      10-20

                Postbus
      81

              

            
	 	 	 	
              7400 AS
      Deventer

            
	 	 	Gentlemen,	Telefoon
	 	 	 	0570-558150
	 	 	
              We
      hereby confirm that we are prepared to provide for the following credit
      arrangement:

            	
              Fax

              0570-625775

            
	 	 	 	 	 
	 	 	A.   
      	A current account
      facility with a limit of EUR 300,000,--	 
	 	 	 	(in writing: three
      hundred thousand Euros).	 
	 	 	 	
              Credit
      receiver

            	
              : 
      Mefiag B.V.

            	 
	 	 	 	
              Objective

            	
              : 
      renovation of business property, located and established
at

            	 
	 	 	 	 	
               
       Magnesiumweg 2 in Heerenveen, the Netherlands

            	 
	 	 	 	
              Availability

            	
              : 
      The credit will be made available to you by means of
    invoices,

            	 
	 	 	 	 	
              : 
      made expedient to us by the constructor.

            	 
	 	 	 	 	 	 
	 	 	The aforementioned
      facility is at your disposal until further notice, but at the latest until
      1
      April 2016.	 
	 	 	 	 	 	 
	 	 	B.	A loan in the
      amount of EUR 1,000,000,--	 
	 	 	 	(in writing: one
      million Euros).	 
	 	 	 	
              Credit
      receiver

            	
              :  
      Mefiag B.V.

            	 
	 	 	 	
              Objective

            	
              :  
      renovation of business property located and established at

            	 
	 	 	 	 	
              Magnesiumweg
      2 in Heerenveen, the Netherlands

            	 
	 	 	 	
              Interest
      and duration

            	
              :  
      3.82% per annum until 01-01-2016

            	 
	 	 	 	 	
              As
      a result of fluctuations on the money and capital market, the percentage
      mentioned is valid until, at the latest, 26 October 2005.

            	 
	 	 	 	Interest	
              :  
      due per calendar quarter afterwards, the first time on
      01-01-2006

            	 

    

     

     

    
      	Initials bank           
      	  Initials           
               
      

    

     

    
      Fortis Bank (Nederland) N.V.,
gevestigd te/established at Rotterdam, Handelsregister/Trade register nr.
30064791

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    
      	
              Date 

              Page 

              Re

            	    	
               

               

               

              Mefiag
      B.V.

              attn.
      The Management

               

               

               

              19
      October 2005

              
                
                  2

                  General
      Credit Offer

                

              

            	
              

               

              Solid
      partners, flexible solutions

            

    

    
      
        	 	 	 	 	 	 
	 	 	 	
                Redemption    

              	
                : 
      EUR 25,000 quarterly due afterwards, as such

              	 
	 	    
      	 	
                 

              	
                  
      for the first time on 01-04-2006.

              	 
	 	 	 	End
    date 	
                :  01-01-2016,
      on which date the loan should be completely settled.

              	 
	 	 	 	 	 	 
	 	 	 	The loan should be
      taken up in full at the latest by 01-04-2006.	 
	 	 	 	 	 	 
	 	 	 	The payments should
      be settled with a current account in the name of the Credit Receiver and
      in such a way that the bank has the respective due amounts at its disposal
      on the expiry dates	 
	 	 	 	 	 	 
	 	 	The total amount of
      this loan to the amount of EUR 1,000,000 will be held in a Deposit
      Account. After payment of the Construction, invoices from your current
      account upon presentation of the invoiced amount, excluding VAT, will be
      reimbursed from the deposit.	 
	 	 	 	 	 	 
	 	 	The handling
      provision amounts to EUR 3,250.	 
	 	 	 	 	 	 
	 	 	The following
      conditions will apply until further notice:	 
	 	 	 	 	 	 
	 	 	Sub
A 	Debit interest
      annually 0.7% on top of the 1-month EURIBOR rate	 
	 	 	 	 	 	 
	 	 	 	0.125% turnover
      provision on the highest amount of the current account in a calendar
      quarter.	 
	 	 	 	 	 	 
	 	 	 	Handling provision
      is a single charge and will be charged when taking up the respective
      loan.	 
	 	 	 	 	 	 
	 	 	 	The other interests
      and/or provisions mentioned will be charged per calendar quarter
      afterwards.	 
	 	 	 	 	 	 
	 	 	
                As
      further surety for the compliance with all issues due to us by yourself at
      any given time and by whichever virtue, we will receive:

              	 
	 	 	 	 	 
	 	 	-	A positive/negative
      mortgage statement on the untaxed registered goods	 
	 	 	 	Magnesiumweg 2 in
      Heerenveen, the Netherlands.	 
	 	 	 	 	 	 
	 	 	
                The
      risk-bearing property of your partnership(s), (the sum of: (i) the placed
      and deposited stock capital, increased with the freely payable reserves /
      deducted profit, and decreased with immaterial assets, activated losses,
      inter-company claims and claims on stockholders and (ii) the amount of
      loans and advances, provided by (a) third party/parties to Credit
      Receiver(s), which, as a result of agreements also entered into with the
      bank, will be subordinated to the claims from the bank on

              	 
	 	 	 	 	 	 
	 	 	 	 	 	 

      

    

     

     

    
      
        	Initials bank           
      	  Initials           
               
      

      

       

      Fortis Bank (Nederland) N.V.,
gevestigd te/established at Rotterdam, Handelsregister/Trade register nr.
30064791

    

     

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    
      	
               Date 

              Page 

              Re

            	    
       	
               

               

               

              Mefiag
      B.V.

              attn.
      The Management

               

               

               

              19
      October 2005

              
                
                  3

                  General
      Credit Offer

                

              

            	
              

               

              Solid
      partners, flexible solutions

            

    

    
       

       

       

    

    
      	 	 	 	 
	 	 	 	 
	  	    
      	
              The
      Credit Receiver(s)) in accordance with the balance, will never amount to
      less than 35% of the total balance.
 

              The
      bank reserves the right to reconsider the continuation of this Credit
      Arrangement if a substantial change occurs, especially in case of
      modifications in the stockholders’ setup and/or the management and/or the
      financial structure and/or the profitability of Mefiag B.V.

               

              The
      earnings after taxes will at least amount to EUR 200,000
      annually.

               

              The
      standards for the financial ratios in this Credit Offer Letter or other
      credit documentation are
      established on the basis of the accepted regulations as currently
      applicable to you and as widely
      accepted for financial reporting. If these regulations are modified at any
      given time, or (based on international developments such as the
      materialisation of International Financial Reporting Standards IFRS) if
      other regulations will be used as a result of which the outcome of stated
      rations – in otherwise equal circumstances - would change, you are obliged
      to immediately inform
      this bank on the nature and consequences of the modified regulations. To
      that means you
      should present our bank with a comparison of a calculation of mentioned
      ratios on the basis of regulations currently in use for financial
      reporting, as well as a calculation on the basis of the new regulations.
      Our bank is in said case entitled to, once again, establish the standards
      for or the calculation method of said financial ratios. Before we will do
      so, we will consult you in order to enable you to inform us regarding your
      vision about the new standards.

               

              On
      our legal relationship the General Conditions and the General Credit
      Conditions of our bank also apply, which are considered to be an integral
      part of this General Credit Offer. Copies thereof are enclosed. By
      accepting this General Credit Offer, you declare to have received and
      agreed with said conditions.

               

              By
      accepting this General Credit offer you expressly declare that no existing
      obligations towards third parties are infringed.

               

              If
      you agree with the aforementioned Credit Arrangement offer, we kindly
      request you to initial the enclosed second copy of this General Credit
      Offer on each page and to lawfully sign the last page, date it and return
      it to us.

            	 

    

     

     

     

     

     

    
      
        
          	Initials bank           
      	  Initials           
               
      

        

         

        
          Fortis Bank (Nederland) N.V.,
gevestigd te/established at Rotterdam, Handelsregister/Trade register nr.
30064791

        

      

       

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    
      	
              Date 

              Page 

              Re

            	     
        	
               

               

               

              Mefiag
      B.V.

              attn.
      The Management

               

               

               

              19
      October 2005

              
                
                  4

                  General
      Credit Offer

                

              

            	
              

               

              Solid partners,
      flexible solutions

            

    

    
      
        	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	     
      	
                
                  Enclosed
      you can find the following document:

                  -               
      positive/negative mortgage statement

                  We
      would gladly like to receive all copies of this document lawfully signed
      and dated in return.

                   

                  This
      offer is valid until two weeks after the date of this General Credit
      Offer.

                   

                  Should
      you, after reading this General Credit Offer, have any further questions
      then we are gladly prepared to answer and/or amplify them. If that is
      the case, we request that you contact Mrs. K. Dijkstra.

                   

                   

                  Sincerely,

                  Fortis
      Bank (Nederland) N.V.

                

              	 

      

    

     

     

    
      	
              /s/
      K. Dijkstra

            	
              As
      agreed:

            	 
      
	 
      	 
      	 
      
	
               

            	
              Management:

            	 
      
	 
      	 
      	 
      
	
              Credit
      receiver:

            	
              Mefiag
      B.V.

            	 
      
	
              Signature:

            	
               

            	 
      
	 
      	 
      	 
      
	 
      	
              /s/
      J.D.H Huizinga

            	 
      
	
              Name
      authorized person:

            	
              J.D.H.
      Huizinga

            	 
      
	Date:	 
      	 
      
	
               

            	
              10-19-05

            	
               

            

    

     

     

     

    
      	                                   
      	Appendix: 	Second copy of this
      General Credit Offer General Conditions
	 	 	General Credit
      Conditions
	 	 	Positive/Negative
      mortgage statement

    

     

     

     

     

     

     

     

     

     

     

     

    
 

     

    
       

      Fortis Bank (Nederland) N.V.,
gevestigd te/established at Rotterdam, Handelsregister/Trade register nr.
30064791

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