Document:

Exhibit 4.3

THIRD
AMENDMENT

THIRD AMENDMENT (this “Amendment”),
dated as of January 29, 2007, to the Credit Agreement, dated as of April 7,
2004 (as amended, supplemented, waived or otherwise modified prior to the date
hereof, the “Credit Agreement”), among VWR INTERNATIONAL, INC. (as
successor in interest to CDRV Acquisition Corporation) (the “Parent Borrower”),
the Foreign Subsidiary Borrowers from time to time parties to the Credit
Agreement, the lenders from time to time party to the Credit Agreement (each a “Lender”
and, collectively, the “Lenders”), DEUTSCHE BANK AG NEW YORK BRANCH, as
Administrative Agent (in such capacity, the “Administrative Agent”),
CITICORP NORTH AMERICA, INC., as Syndication Agent, and BANK OF AMERICA, N.A.,
BNP PARIBAS and BARCLAYS BANK PLC, as Documentation Agents.  Unless otherwise defined herein, all
capitalized terms used herein and defined in the Credit Agreement referred to
below are used herein as therein defined.

WI T N E S S
E T H :

WHEREAS, the Parent
Borrower, the Lenders and the Administrative Agent have entered into the Credit
Agreement; and

WHEREAS, subject to the
terms and conditions set forth below, the parties hereto wish to amend certain
provisions of the Credit Agreement as provided herein;

NOW, THEREFORE, it is
agreed;

A.                                   Amendments
to the Credit Agreement

1.             The definition of “Reinvested
Amount” appearing in Section 1.1 of the Credit Agreement is hereby amended to
read in its entirety as follows:

“Reinvested Amount”:  with respect to any Asset Sale permitted by
subsection 8.6(i) or Recovery Event, that portion of the Net Cash Proceeds
thereof (which portion shall not exceed, with respect to any Asset Sale
occurring on or after the Closing Date (but not any Recovery Event),
$35,000,000 minus the aggregate Reinvested Amounts with respect to all such
Asset Sales on or after the Closing Date) as shall be reinvested in the
business of the Parent Borrower and its Subsidiaries in a manner consistent
with the requirements of subsection 8.17 and the other provisions hereof
within 180 days of the receipt of such Net Cash Proceeds with respect to any
such Asset Sale or Recovery Event or, if such reinvestment is in a project
authorized by the board of directors of the Parent Borrower that will take
longer than such 180 days to complete, the period of time necessary to complete
such project; provided that, for each Asset Sale with respect to which
the Net Cash Proceeds exceed $10,000,000 and for each Recovery Event, a
Responsible Officer of the Parent Borrower shall be required to deliver a
certificate to the Administrative Agent within 30 days of such Asset Sale or
Recovery Event; provided further, that (a) if any such
certificate of a Responsible Officer required pursuant to the immediately
preceding proviso is not delivered to the Administrative Agent (i) on the
date of such Asset Sale with respect to which the Net Cash Proceeds exceed
$10,000,000, or (ii) for any Recovery Event, any Net Cash Proceeds of such
Asset Sale or Recovery Event shall be immediately (A) deposited in a cash
collateral account 

established at DBAG to be held as collateral in favor
of the Administrative Agent for the benefit of the Lenders on terms reasonably
satisfactory to the Administrative Agent and shall remain on deposit in such
cash collateral account until such certificate of a Responsible Officer is
delivered to the Administrative Agent or (B) used to make a prepayment of
the Revolving Credit Loans in accordance with subsection 4.4(a); provided
further, that, notwithstanding anything in this Agreement to the
contrary, the Parent Borrower may not request any Extension of Credit under the
Revolving Credit Commitments that would reduce the aggregate amount of the
Available Revolving Credit Commitments to an amount that is less than the
amount of any such prepayment until such certificate of a Responsible Officer
is delivered to the Administrative Agent and (b) any Net Cash Proceeds not
so reinvested by the date required pursuant to the terms of this definition
shall be utilized on such day to prepay the Loans pursuant to subsection 4.4(b).

2.             Section 1.1 of the
Credit Agreement is hereby amended by inserting the following new definitions
in the appropriate alphabetical order:

“Available Amount”:  the sum, without duplication of

(a)           50% of the Available CNI Amount
accrued during the period (treated as one accounting period) beginning on
January 1, 2004 to the end of the most recent fiscal quarter for which
consolidated financial statements of the Parent Borrower are available (or, in
case such Available CNI Amount shall be a negative number, 100% of such
negative number); plus

(b)           the aggregate Net Proceeds and the
fair value (as determined in good faith by the board of directors of the Parent
Borrower) of property or assets received (x) by the Parent Borrower as capital
contributions to the Parent Borrower after the Reference Date or from the
issuance or sale (other than to a Restricted Subsidiary) of its Capital Stock
(other than Disqualified Stock (as defined in the Senior Notes Indenture as in
effect on the Reference Date)) after the Reference Date (other than Excluded
Contributions) or (y) by the Parent Borrower or any Restricted Subsidiary from
the issuance and sale by the Parent Borrower or any Restricted Subsidiary after
the Reference Date of Indebtedness that shall have been converted into or
exchanged for Capital Stock (other than Disqualified Stock) of the Parent
Borrower, plus the amount of any cash and the fair value (as determined in good
faith by the board of directors of the Parent Borrower) of any property or
assets, received by the Parent Borrower or any Restricted Subsidiary upon such
conversion or exchange; minus

(c)           the sum of (i) the aggregate amount
of dividends, payments and distributions made after the Reference Date pursuant
to subsection 8.7(g) (for this purpose, determined as if said subsection had
been in effect for all periods from and after the Reference Date) and (ii) the
aggregate amount of Investments made after the Reference Date pursuant to
subsection 8.9(r) (determined as if said subsection had been in effect for all
periods from and after the Reference Date) and then outstanding.  For purposes of the foregoing and subsections
8.9(q) and 8.9(r), the amount of any Investment outstanding at any time shall
be the original cost of such Investment, reduced (at the Parent Borrower’s
option) by any dividend, distribution, interest payment, return of capital,
repayment or other amount or value received in respect of such Investment; 

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provided, that to
the extent that the amount of Investments outstanding at any time pursuant to
subsection 8.9(r) is so reduced by any portion of any such amount or value that
would otherwise be included in the calculation of Available Amount pursuant to
paragraph (a) above, such portion of such amount or value shall not be so
included.

“Available CNI Amount”:  for any period, the net income (loss) of the
Parent Borrower and its Restricted Subsidiaries, determined on a consolidated
basis in accordance with GAAP and before any reduction in respect of preferred
stock dividends; provided, that there shall not be included in such
Available CNI Amount:

(a)           any net income (loss) of any Person
that is not a Restricted Subsidiary of the Parent Borrower, except that (i)
subject to the limitations contained in clause (c) below, the Parent Borrower’s
equity in the net income of any such Person for such period shall be included
in such Consolidated Net Income up to the aggregate amount actually distributed
by such Person during such period to the Parent Borrower or a Restricted
Subsidiary as a dividend or other distribution (subject, in the case of a
dividend or other distribution to a Restricted Subsidiary, to the limitations
contained in clause (b) below) and (ii) the Parent Borrower’s equity in the net
loss of such Person shall be included to the extent of the aggregate Investment
of the Parent Borrower or any of its Restricted Subsidiaries in such Person;

(b)           any net income (loss) of any
Restricted Subsidiary that is not a Guarantor if such Restricted Subsidiary is subject
to restrictions, directly or indirectly, on the payment of dividends or the
making of similar distributions by such Restricted Subsidiary, directly or
indirectly, to the Parent Borrower by operation of the terms of such Restricted
Subsidiary’s charter or any agreement, instrument, judgment, decree, order,
statute or governmental rule or regulation applicable to such Restricted
Subsidiary or its stockholders (other than (i) restrictions that have been
waived or otherwise released, (ii) restrictions pursuant to the Existing Notes
or under the Existing Note Indentures and (iii) restrictions in effect on the
Reference Date with respect to a Restricted Subsidiary and other restrictions
with respect to such Restricted Subsidiary that taken as a whole are not
materially less favorable to the Lenders than such restrictions in effect on
the Reference Date), except that (A) subject to the limitations contained in
clause (c) below, the Parent Borrower’s equity in the net income of any such
Restricted Subsidiary for such period shall be included in such Available CNI
Amount up to the aggregate amount of any dividend or distribution that was or
that could have been made by such Restricted Subsidiary during such period to
the Parent Borrower or another Restricted Subsidiary (subject, in the case of a
dividend that could have been made to another Restricted Subsidiary, to the
limitation contained in this clause) and (B) the net loss of such Restricted
Subsidiary shall be included to the extent of the aggregate Investment of the
Parent Borrower or any of its other Restricted Subsidiaries in such Restricted
Subsidiary;

(c)           any gain or loss realized upon the
sale or other disposition of any asset of the Parent Borrower or any Restricted
Subsidiary (including pursuant to any sale/leaseback transaction) that is not
sold or otherwise disposed of in the ordinary course of business (as determined
in good faith by the board of directors of the Parent Borrower);

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(d)           any item classified as an
extraordinary, unusual or nonrecurring gain, loss or charge (including fees,
expenses and charges associated with the Transactions and any related
transactions, and any acquisition, merger or consolidation after the Reference
Date);

(e)           the cumulative effect of a change in
accounting principles;

(f)            all deferred financing costs written
off and premiums paid in connection with any early extinguishment of
Indebtedness;

(g)           any unrealized gains or losses in
respect of any foreign exchange contract, currency swap agreement or other
similar agreement or arrangements (including derivative agreements or
arrangements);

(h)           any unrealized foreign currency
transaction gains or losses in respect of Indebtedness of any Person
denominated in a currency other than the functional currency of such Person;

(i)            any non-cash compensation charge
arising from any grant of stock, stock options or other equity based awards;
and

(j)            to the extent otherwise included in
such Available CNI Amount, any unrealized foreign currency translation or
transaction gains or losses in respect of Indebtedness or other obligations of
the Parent Borrower or any Restricted Subsidiary owing to the Parent Borrower
or any Restricted Subsidiary.

In the case of any
unusual or nonrecurring gain, loss or charge not included in such Available CNI
Amount pursuant to clause (d) above in any determination thereof, the Parent
Borrower will deliver an officer’s certificate to the Administrative Agent
promptly after the date on which such Available CNI Amount is so determined,
setting forth the nature and amount of such unusual or nonrecurring gain, loss
or charge.

“Available Excluded
Contribution Amount”:  the aggregate
amount of Excluded Contributions, minus the sum of (i) the aggregate amount of
dividends, payments and distributions made after the Reference Date pursuant to
subsection 8.7(h) (determined as if said subsection had been in effect for all
periods from and after the Reference Date) and (ii) the aggregate amount of
Investments made after the Reference Date pursuant to subsection 8.9(s) (determined
as if said subsection had been in effect for all periods from and after the
Reference Date) and then outstanding.

“Excluded Contribution”:  Net Proceeds, or the Fair Market Value of
property or assets, received by the Parent Borrower as capital contributions to
the Parent Borrower after the Reference Date or from the issuance or sale
(other than to a Subsidiary) of Capital Stock (other than Disqualified Stock
(as defined in the Senior Notes Indenture as in effect on the Reference Date))
of the Parent Borrower, in each case to the extent designated as an Excluded
Contribution by the Parent Borrower and not previously included in the
calculation of Available CNI Amount for purposes of 

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determining
whether a dividend, payment or distribution may be made pursuant to
subsection 8.7(g) or an Investment may be made pursuant to
subsection 8.9(r).

“Fair Market Value”:  with respect to any asset or property, the
fair market value of such asset or property as determined in good faith by the
board of directors of the Parent Borrower, whose determination will be
conclusive.

“Investment
Holdings”:  CDRV Investment Holdings
Corporation, a Delaware corporation.

“Net Proceeds”:  with respect to any issuance or sale of any
securities of the Parent Borrower or any Subsidiary by the Parent Borrower or
any Subsidiary, or any capital contribution, means the cash proceeds of such
issuance, sale or contribution net of attorneys’ fees, accountants’ fees,
underwriters’ or placement agents’ fees, discounts or commissions and brokerage,
consultant and other fees actually incurred in connection with such issuance,
sale or contribution and net of taxes paid or payable as a result thereof.

“Reference Date”:  means April 7, 2004.

“Restricted Subsidiary”:  as such term is defined in the Senior Notes
Indenture, as of the date hereof.

“Senior Notes
Indenture”:  the Indenture governing
the 6 7/8% Senior Notes due 2012, dated April 7, 2004, among the Parent
Borrower, as Issuer, the Subsidiary Guarantors from time to time party thereto
and Wells Fargo Bank, National Association, as Trustee.

“Unrestricted
Subsidiary”:  as such term is defined
in the Senior Notes Indenture, as of the date hereof.

“Third
Amendment”:  the Third Amendment to
this Agreement, dated as of January 29, 2007, among the Parent Borrower,
certain Lenders and the Administrative Agent.

“Third
Amendment Effective Date”:  as
defined in the Third Amendment.

3.             The definition of “Excess
Cash Flow” in Section 1.1 of the Credit Agreement is hereby amended by deleting
the phrase “or (l)” contained in clause (g) thereof and by inserting in lieu
thereof the phrase “(l), (q), (r) or (s)”.

4.             The definition of “GAAP”
in Section 1.1 of the Credit Agreement is hereby amended by adding the
following language after the words “in subsections 8.1, 8.2 and 8.8 and all
defined terms relating thereto,”:

“and the
defined term “Available CNI Amount””.

5.             For all periods
from and after the Third Amendment Effective Date, the definition of “Applicable
Margin” appearing in Section 1.1 of the Credit Agreement is hereby amended by 

 5
 

deleting the percent “2.75%” appearing in clause (a) thereof and by
inserting in lieu thereof the percent “2.25%”.

6.             Section 8.2 of the Credit Agreement is hereby
amended by deleting the text “for working capital purposes” appearing in clause
(k) thereof and inserting the text “for any corporate purposes” in lieu
thereof.

7.             Section 8.2 of the
Credit Agreement is hereby further amended by deleting the amount “$25,000,000”
appearing in clause (r) thereof and inserting the amount “$35,000,000” in lieu
thereof.

8.             Section 8.7 of the
Credit Agreement is hereby amended by deleting existing clauses (a)
through (c) thereof in their entirety and by inserting in lieu thereof the
following new clauses:

“(a)         the Parent Borrower may pay cash
dividends in an amount sufficient to allow Investors, Investment Holdings,
Holding or Small FSHCo to pay expenses (other than taxes) incurred in the
ordinary course of business; provided that, if Investors or Investment
Holdings, as the case may be, shall own any material assets other than the
Capital Stock of Holding or other assets relating to the ownership interest of
such Person in Holding or Subsidiaries of Holding (which may include Capital
Stock of a Subsidiary thereof that directly or indirectly owns Capital Stock of
Holdings), such cash dividends with respect to such Person shall be limited to
the reasonable and proportional share, as determined by the Parent Borrower in
its reasonable discretion, of such expenses incurred by such Person relating or
allocable to its ownership interest in Holding and such other related assets; provided,
further, that, if Holding shall own any material assets other than the
Capital Stock of the Parent Borrower and Small FSHCo or other assets relating
to the ownership interest of Holding in the Parent Borrower, Small FSHCo or
Subsidiaries of the Parent Borrower, such cash dividends with respect to
Holding shall be limited to the reasonable and proportional share, as
determined by the Parent Borrower in its reasonable discretion, of such
expenses incurred by Holding relating or allocable to its ownership interest in
the Parent Borrower, Small FSHCo and such other related assets;

(b)           the Parent Borrower may pay cash
dividends in an amount sufficient to cover reasonable and necessary expenses
(including professional fees and expenses) (other than taxes) incurred by
Investors, Investment Holdings, Holding or Small FSHCo in connection with (a)
registration, public offerings and exchange listing of equity or debt
securities and maintenance of the same, (b) compliance with reporting
obligations under, or in connection with compliance with, federal or state laws
or under this Agreement or any of the other Loan Documents and (c)
indemnification and reimbursement of directors, officers and employees in
respect of liabilities relating to their serving in any such capacity, or
obligations in respect of director and officer insurance (including premiums
therefor); provided that, in the case of sub-clause (a) above, if
Investors or Investment Holdings, as the case may be, shall own any material
assets other than the Capital Stock of Holding or other assets relating to the
ownership interest of such Person in Holding or its Subsidiaries (which may
include Capital Stock of a Subsidiary thereof that directly or indirectly owns
Capital Stock of Holdings), such cash dividends with 

 6
 

respect
to such Person shall be limited to the reasonable and proportional share, as
determined by the Parent Borrower in its reasonable discretion, of such expenses
incurred by such Person relating or allocable to its ownership interest in
Holding and such other assets; provided, further, that, in the
case of sub-clause (a) above, if Holding shall own any material assets other
than the Capital Stock of the Parent Borrower and Small FSHCo or other assets
relating to the ownership interest of Holding in the Parent Borrower or
Subsidiaries of the Parent Borrower and Small FSHCo, such cash dividends with
respect to Holding shall be limited to the reasonable and proportional share,
as determined by the Parent Borrower in its reasonable discretion, of such
expenses incurred by Holding relating or allocable to its ownership interest in
the Parent Borrower, Small FSHCo and such other related assets;

(c)           the Parent Borrower may pay, without
duplication, (i) cash dividends to Holding in an amount equal to (x)(A) the
taxes Holding is required to pay to any taxing authority and (B) the amounts
due from Holding in accordance with the Tax Sharing Agreement, (y) the taxes
Small FSHCo is required to pay to any taxing authority and (z) (A) the amount
of taxes Investors or Investment Holdings, as the case may be, is required to
pay to any taxing authority and (B) the amounts due from such Person in
accordance with the Tax Sharing Agreement (provided that, if Investors
or Investment Holdings, as the case may be, shall own any material asset other
than the Capital Stock of Holding (or other assets relating to the ownership
interest of such Person in Holding or Subsidiaries of Holding, which may
include Capital Stock of a Subsidiary thereof that directly or indirectly owns
Capital Stock of Holdings), taxes calculated under clause (z)(A) above, other
than taxes relating to its being incorporated or having Capital Stock
outstanding, shall be limited to the reasonable and proportional share, as
determined by the Parent Borrower in its reasonable discretion, of such taxes
(for this purpose, giving effect to payments in respect of taxes received by
such Person under preceding clause (z)(B) and/or following clause (ii)) and provided,
further, that, if Holding shall own any material asset other than the
Capital Stock of the Parent Borrower and Small FSHCo (or other assets relating
to the ownership interest of Holding in Parent Borrower or Subsidiaries of the
Parent Borrower), taxes calculated under clause (x)(A) above, other than taxes
relating to its being incorporated or having Capital Stock outstanding, shall
be limited to the reasonable and proportional share, as determined by the
Parent Borrower in its reasonable discretion, of such taxes (for this purpose,
giving effect to payments in respect of taxes received by Holding under
preceding clause (x)(B) and/or following clause (ii)) payable by or on behalf
of Holding relating or allocable to its ownership interest in the Parent
Borrower, Small FSHCo and such other assets) and (ii) to Holding, Investors and
Investment Holdings all amounts due from the Parent Borrower to Holding,
Investors and Investment Holdings, respectively, in accordance with the terms
of the Tax Sharing Agreement (for the purposes of this subsection 8.7(c), the
term “taxes” shall include additions to taxes and interest on and penalties
with respect to taxes);”.

Section 8.7 of the Credit Agreement is hereby further amended by (x)
deleting the word “and” appearing at the end of Section 8.7(d), (y)
deleting the period appearing at the end of Section 8.7(e) and inserting a
semicolon in lieu thereof and (z) inserting the following new clauses at
the end of the said Section:

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“(f) in addition
to cash dividends, payments and distributions expressly permitted by this
subsection 8.7, the Parent Borrower may make cash dividends, payments and
distributions in an aggregate amount not to exceed $35,000,000 less any
Investments made pursuant to subsection 8.9(q) and then outstanding;

(g) the Parent
Borrower may pay or make any other dividend, payment or distribution in an
amount not exceeding the Available Amount immediately prior to the time of the
payment or making of such dividend, payment or distribution; provided
that no Default or Event of Default has occurred and is continuing or would
result therefrom; and

(h) the Parent
Borrower may pay or make any other dividend, payment or distribution in an
amount not exceeding the Available Excluded Contribution Amount immediately
prior to the time of the payment or making of such dividend, payment or
distribution.”

9.             Section 8.9 of the
Credit Agreement is hereby amended by (w) deleting clause (p) in its
entirety, (x) re-designating clause (q) as clause (p), (y)
replacing the period at the end of new clause (p) with a semicolon and (z)
inserting the following new clauses at the end of the said Section:

“(q) in addition
to Investments otherwise expressly permitted by this subsection 8.9,
investments by the Parent Borrower or any of its Subsidiaries in an aggregate
amount outstanding at any time not to exceed $35,000,000 less the aggregate
amount of dividends, payments and distributions made pursuant to subsection
8.9(f);

(r) any Investment
in an amount that does not exceed the Available Amount immediately prior to the
time of the making of such Investment; provided that no Default or Event
of Default has occurred and is continuing or would result therefrom; and

(s) any Investment
in an amount that does not exceed the Available Excluded Contribution Amount
immediately prior to the time of the making of such Investment.”

10.           Section 11.1(d) of
the Credit Agreement is hereby amended by deleting the text “Tranche B Term
Loans or any then outstanding Replacement Term Loans” and inserting “Term Loans
of any Tranche” in lieu thereof.

B.                                     Replacement
Term Loans

1.             On the Third Amendment Effective Date, all outstanding
Tranche B Euro Term Loans shall be refinanced, as described below and in
accordance with Section 11.1(d) of the Credit Agreement, with Replacement Term
Loans having the following terms: (i) the borrower of the Replacement
Term Loans shall be the Parent Borrower, (ii) the Replacement Term Loans
shall be Eurocurrency Loans that shall be made, and be denominated, in Euros in
an aggregate principal amount equal to the aggregate principal amount of then
outstanding Tranche 

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B Euro Term Loans,
(iii) the Applicable Margin for the Replacement Term Loans shall be
equal to 2.25% per annum, (iv) except as provided in the immediately
preceding clause (iii), all other terms applicable to the Replacement Term
Loans (including without limitation amortization and maturity) shall be the
same as those that theretofore applied to the Tranche B Euro Term Loans (after
giving effect to this Amendment) and (v) after the refinancing
contemplated by this Part B.1. has occurred (and at all times after the Third
Amendment Effective Date), the Replacement Term Loans made hereunder shall
thereafter for all purposes of the Credit Agreement be referred to as (and
constitute) “Tranche B Euro Term Loans”, with all provisions of the Credit
Agreement and related Loan Documents applicable to Tranche B Euro Term Loans
(and to Loans) to fully apply to said Replacement Term Loans (which shall thereafter
be called (and constitute) “Tranche B Euro Term Loans” and shall constitute “Loans”
under the Credit Agreement and for purposes of the Loan Documents); provided
that, notwithstanding the foregoing provisions of this clause (v), the
Replacement Term Loans made hereunder shall not constitute “Tranche B Euro Term
Loans” with respect to provisions of the Credit Agreement that were applicable
only on the Closing Date, including, the first and third sentences of Section
2.5(b), Section 2.6(a)(ii) (to the extent relating to the Closing Date or
assignments effected before the Third Amendment Effective Date) and Section 2.7
of the Credit Agreement.

2.             The
Administrative Agent has a schedule (the “Replacement Term Loan Commitment
Schedule”) which sets forth, in Euros, the allocated commitments received
by it (“Replacement Term Loan Commitments”) from various Lenders
(including Persons which would become Lenders on the Third Amendment Effective
Date) (each, a “Replacement Lender”) to make Replacement Term Loans on
the Third Amendment Effective Date in accordance with the relevant provisions
of this Amendment.  The Administrative
Agent has notified each Replacement Lender of its allocated Replacement Term
Loan Commitment, and each of the Replacement Lenders is listed as a signatory
to this Amendment.  Upon the request of
the Parent Borrower, the Administrative Agent shall furnish it a copy of the
Replacement Term Loan Commitment Schedule. 
On the Third Amendment Effective Date, all then outstanding Tranche B
Euro Term Loans shall be refinanced in full as follows (and as described in
following Part B.3.):

(i)            the aggregate principal amount of
Tranche B Euro Term Loans of each Lender which does not have a Replacement Term
Loan Commitment shall be repaid in full in cash (in Euros); and

(ii)           the aggregate principal amount of
Tranche B Euro Term Loans of each Lender which has a Replacement Term Loan
Commitment shall automatically be converted into Replacement Term Loans; provided
that (x) if the Replacement Term Loan Commitment of the respective
Lender exceeds the then outstanding principal amount of its Tranche B Euro Term
Loans, such Lender shall lend cash in an amount equal to such difference as set
forth in Part B.3. below and (y) if the Replacement Term Loan Commitment
of the respective Lender is less than the aggregate principal amount of its
then outstanding Tranche B Euro Term Loans, the principal amount of its then
outstanding Tranche B Euro Term Loans shall be repaid in cash in Euros in an
amount equal to such difference.

3.             On
the Third Amendment Effective Date, each Lender with a Replacement Term Loan
Commitment shall fund its Replacement Term Loans to the Parent 

 9
 

Borrower as Eurocurrency
Loans in an aggregate principal amount equal to such Lender’s Replacement Term
Loan Commitment as follows:

(i)            each
Replacement Lender which has then outstanding Tranche B Euro Term Loans, shall
fund its Replacement Term Loans by converting its then outstanding principal of
Tranche B Euro Term Loans (up to the amount of its Replacement Term Loan
Commitment) into Replacement Term Loans as (and to the extent) provided in Part
B.2.(ii) above;

(ii)           each
Replacement Lender which has then outstanding Tranche B Euro Term Loans and
which has a Replacement Term Loan Commitment which exceeds the amount of its
then outstanding Tranche B Euro Term Loans shall also fund an amount equal to
such excess in Euros to the Parent Borrower; and

(iii)          each
Replacement Lender which has no then outstanding Tranche B Euro Term Loans
shall fund the full amount of its Replacement Term Loan Commitment in Euros to
the Parent Borrower.

4.             The
Parent Borrower shall give the Administrative Agent, for distribution to the
Replacement Lenders and the Lenders of then outstanding Tranche B Euro Term
Loans, written notice of the funding of the Replacement Term Loans at least one
Business Day prior to the Third Amendment Effective Date, which notice shall be
in form and substance reasonably satisfactory to the Administrative Agent and
shall be deemed to be both a notice of borrowing and, subject to Part B.7.
below, of prepayment for purposes of Section 4.12 of the Credit Agreement.  All Interest Periods applicable to Tranche B
Euro Term Loans shall continue in effect (for the same amount of principal of
Replacement Term Loans) after the Third Amendment Effective Date and shall
apply to the Replacement Term Loans made on the Third Amendment Effective Date
(until such Interest Periods expire, at which time subsequent Interest Periods
shall be determined in accordance with the provisions of Section 4.2 of the
Credit Agreement).  The Replacement Term
Loans of the various Replacement Lenders shall be allocated ratably to such
Interest Periods (based upon the relative principal amounts subject thereto
prior to the Third Amendment Effective Date), with the effect being that
Tranche B Euro Term Loans which are converted hereunder shall continue to be
subject to the same Interest Periods and any amounts funded in cash on the
Third Amendment Effective Date shall be ratably allocated to the various
Interest Periods as described above.  To
the extent any Replacement Lender which is funding Replacement Term Loans in
cash suffers any loss as a result of funding its Replacement Term Loans during
an Interest Period rather than on the first day thereof (after taking such
steps as may be reasonably available to it to mitigate or avoid such loss), it
shall provide prompt notice thereof to the Parent Borrower through the
Administrative Agent (certifying that it has suffered such a loss and the amount
thereof, describing in reasonable detail the nature of such loss and the
reasons therefor, and setting forth a reasonably detailed explanation of the
calculation thereof) and the Parent Borrower shall promptly following receipt
of such request reimburse it for such loss so sustained.

5.             Each
Replacement Lender shall be required to execute and deliver a counterpart of
this Amendment on or prior to the Third Amendment Effective Date, and any such
Person which was not already a Lender under the Credit Agreement hereby agrees
that it shall be party to the Credit Agreement (as amended from time to time)
as a Lender as fully as if it were a 

 10
 

Lender originally party
thereto, and agrees to furnish to the Administrative Agent from time to time
following any request therefor all documentation required of Lenders party to
the Credit Agreement on the Closing Date, as fully as if it were a party
thereto on the Closing Date.

6.             The Parent Borrower hereby agrees
that, upon request to the Administrative Agent by any Replacement Lender made
on or prior to the Third Amendment Effective Date, in order to evidence such
Replacement Lender’s Replacement Term Loans hereunder, the Parent Borrower will
execute and deliver to such Replacement Lender a Tranche B Euro Term Note, with
appropriate insertions therein as to payee, date and principal amount, payable
to the order of such Replacement Lender and in a principal amount equal to the
unpaid principal amount of the Replacement Loans made by such Replacement
Lender to the Parent Borrower.  Each such Tranche B Euro
Term Note shall (x) be dated the Closing Date, (y) be payable as
provided in Section 2.6(b)(ii) of the Credit Agreement and (z) provide
for the payment of interest in accordance with Section 4.1 of the Credit
Agreement.  If any Replacement Lender which was
already a Lender of Tranche B Euro Term Loans prior to the Third Amendment
Effective Date requests a replacement Tranche B Euro Term Note hereunder, such
Lender shall surrender the respective Tranche B Euro Term Note, if any, held by
it.   Any Tranche B Euro Term Notes so
surrendered shall be delivered to the Administrative Agent and returned by it
to the Parent Borrower marked “cancelled.” 
If a Replacement Lender was already a Lender of Tranche B Euro Term
Loans prior to the Third Amendment Effective Date, and is a holder of a Tranche
B Euro Term Note issued prior to the Third Amendment Effective Date evidencing
same, such Tranche B Euro Term Note shall continue to evidence its outstanding
Replacement Term Loans following the Third Amendment Effective Date unless
replaced in accordance with the foregoing provisions, as and to the extent
otherwise contemplated by the Credit Agreement (although if the respective
Replacement Lender is making Replacement Term Loans in excess of the aggregate
principal amount of such Tranche B Euro Term Note, it shall be entitled to
receive a replacement Note in accordance with the preceding provisions).

7.             On
the Third Amendment Effective Date, the Parent Borrower shall pay (a) in
cash all interest accrued on the Tranche B Euro Term Loans through the Third
Amendment Effective Date and (b) to each Tranche B Euro Term Lender that
is not a Replacement Lender, and to each Replacement Lender to the extent such
Lender is repaid cash pursuant to clause (y) in the proviso to Part B.2.(ii)
above, any breakage loss or expenses due under Section 4.12 of the Credit
Agreement (it being understood that existing Interest Periods of the Tranche B
Euro Term Loans held by Replacement Lenders prior to the Third Amendment
Effective Date shall continue on and after the Third Amendment Effective Date
and shall accrue interest at the Applicable Margin in effect on and after the
Third Amendment Effective Date).

8.             The Parent Borrower
hereby further acknowledges and agrees that all indemnifications provided in
the Credit Agreement and Loan Document which are applicable to Lenders shall
continue to apply to the Lenders of Tranche B Euro Term Loans which are
refinanced pursuant to this Amendment.

C.                                     Miscellaneous
Provisions

1.             In order to induce
the Lenders to enter into this Amendment, the Parent Borrower hereby represents
and warrants to each of the Lenders that (i) all of the representations and
warranties contained in the Credit Agreement and in the other Loan Documents
are true and 

 11
 

correct in all material respects on and as of the Third Amendment
Effective Date, after giving effect to this Amendment (unless such
representations and warranties relate to a specific earlier date, in which case
such representations and warranties shall be true and correct as of such
earlier date), and (ii) there exists no Default or Event of Default on the
Third Amendment Effective Date, after giving effect to this Amendment.

2.             This Amendment is
limited as specified and shall not constitute a modification, acceptance or
waiver of any other provision of the Credit Agreement, the Guarantee and
Collateral Agreement or any other Loan Document.

3.             This
Amendment may be executed in any number of counterparts, each of which
counterparts when executed and delivered shall be an original, but all of which
shall together constitute one and the same instrument.  A complete set of counterparts executed by
all the parties hereto shall be lodged with the Parent Borrower and the
Administrative Agent.

4.             THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE
PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW
OF THE STATE OF NEW YORK.

5.             This
Amendment shall be effective on the date (the “Third Amendment Effective
Date”) when (x) the Parent Borrower, the Required Lenders and each
Replacement Lender (with Replacement Term Loan Commitments in aggregate
principal amount equal to the then aggregate outstanding principal amount of
Tranche B Euro Term Loans) shall have signed a counterpart hereof (whether the
same or different counterparts) and shall have delivered (which delivery may be
by way of telecopier or other electronic means) the same to the Administrative
Agent and (y) the following actions shall have been or shall be taken to
the reasonable satisfaction of the Administrative Agent (which shall promptly
provide written acknowledgment to the Parent Borrower of the occurrence of the
Third Amendment Effective Date):

(i)                                     the Administrative Agent shall have
received the notice required by Part B.4. of this Amendment (with the number of
days notice as specified therein having been provided);

(ii)                                  the Administrative Agent shall have
received funds from the Parent Borrower in amounts sufficient to pay all
amounts that it is aware are owing pursuant to Part B.7. hereof;

(iii)                               the occurrence of the refinancing
transactions pursuant to Part B of this Amendment (although this item (iii)
shall not excuse any Replacement Term Lender from funding its Replacement Term
Loan Commitment hereunder so long as all other actions described herein have
been taken);

(iv)                              the Administrative Agent shall have
received from Debevoise & Plimpton LLP, special New York counsel to each of
Holding, the Parent Borrower and certain of the other Loan Parties, an opinion addressed
to the Administrative Agent and each of the Lenders and dated the Third
Amendment Effective Date, in form and substance reasonably satisfactory to the
Administrative Agent;

 12
 

(v)                                 the Administrative Agent shall have
received from George Van Kula, Esq., counsel to certain Loan Parties, an
opinion addressed to the Administrative Agent and each of the Lenders and dated
the Third Amendment Effective Date, in form and substance reasonably
satisfactory to the Administrative Agent;

(vi)                              the Parent Borrower shall have paid to
the Administrative Agent and the Lenders all reasonable fees, costs and
expenses (including without limitation, legal fees and expenses) payable to the
Administrative Agent and the Lenders to the extent then required under Section
11.5 of the Credit Agreement; and

(vii)                           the Administrative Agent shall have
received an Acknowledgment and Confirmation executed by each of the Guarantors,
in form and substance reasonably acceptable to the Administrative Agent.

6.             By executing and
delivering a copy hereof, the Parent Borrower hereby agrees that all Loans
(including, without limitation, the Replacement Term Loans made hereunder)
shall be fully guaranteed and fully secured pursuant to the Guarantee and
Collateral Agreement and the applicable Security Documents in accordance with
the terms and provisions thereof.

7.             From and after the
Third Amendment Effective Date, all references in the Credit Agreement and in
the other Loan Documents to the Credit Agreement shall be deemed to be
references to the Credit Agreement as modified hereby.

*      *     
*

 13

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

	
   

  	
   

  	
  VWR INTERNATIONAL, INC.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
  /s/ George Van Kula

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
   

  	
  George Van Kula

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
   

  	
  Senior Vice President, General

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Counsel and Secretary

  

 

 

	
   

  	
   

  	
  DEUTSCHE BANK AG NEW YORK BRANCH,

  Individually and as Administrative Agent

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
  /s/ Carin Keegan

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
   

  	
  Carin Keegan

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
   

  	
  Vice President

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
  /s/ Scottye D Lindsey

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
   

  	
  Scottye D Lindsey

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
   

  	
  Director

  

 

 

	
   

  	
   

  	
  BANK OF AMERICA, N.A.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
  /s/ Alysa Trakas

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
   

  	
  Alysa Trakas

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
   

  	
  Vice President

  

 

 

	
   

  	
   

  	
  BNP PARIBAS

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
  /s/ Gregg Bonardi

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
   

  	
  Gregg Bonardi

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
   

  	
  Director

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
  /s/ Ola Anderssen

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
   

  	
  Ola Anderssen

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
   

  	
  Director

  

 

 

	
   

  	
   

  	
  BARCLAYS BANK PLC

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
  /s/ David Barton

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
   

  	
  David Barton

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
   

  	
  Associate Director

  

 

 

	
   

  	
   

  	
  CITICORP NORTH AMERICA, INC.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
  /s/ Cornelius Mahon

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
   

  	
  Cornelius Mahon

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
   

  	
  Vice PresidentExhibit
10.1

SEPARATION
AND GENERAL RELEASE AGREEMENT

This
Separation and General Release Agreement (“Agreement”) is
entered into by and between Michael Cortino (“Cortino”)
and Papa John’s USA, Inc., its parent, Papa John’s International, Inc. and all of their subsidiary
and affiliated corporations, as well as their respective directors, officers,
successors, shareholders, assigns, attorneys, agents, representatives and
employees (all of which, are hereafter collectively referred to as “Papa John’s”).

RECITALS:

A.            Cortino is currently employed by
Papa John’s in the capacity of Senior Vice President, Domestic Operations.

B.            The parties
have mutually agreed to separate his employment from Papa John’s, effective
January 28, 2007 (“Separation Date”).

AGREEMENT:

NOW,
THEREFORE, in consideration of the mutual promises contained
in this Agreement, Cortino and Papa John’s agree as follows:

1.             As adequate and good consideration,
Company agrees to provide Cortino with the following:

a.             A bonus payment for 2006 performance
in the gross amount of Two Hundred Thirty-three Thousand Four Hundred
Thirty-seven Dollars and Twenty-two Cents ($233,437.22), less all applicable
withholdings. This payment shall be paid in a lump sum within 3 business days
after the revocation period set forth in Paragraph 5.d. has expired.

b.             An additional payment in the gross
amount of One Hundred Thirteen Thousand, Two Hundred Thirty-three Dollars and
Thirty-four Cents ($113,233.34), less all applicable withholdings. This payment
shall be paid in a lump sum within 3 business days after the revocation period
set forth in Paragraph 5.d. has expired.

c.             Should Cortino elect COBRA
continuation coverage for any family health or dental benefits provided by Papa
John’s, Papa John’s will pay Cortino’s COBRA premiums for a period of twelve
(12) months, through January 2008. Papa John’s will pay any COBRA premiums
directly to the appropriate payee.

 Page 1 of 9
 

d.             Papa John’s will review, consider
and decide whether Cortino may re-enter, or directly or indirectly have any
involvement in the Papa John’s system in the future, whether as a franchisee,
operating partner, franchisee employee, franchisee agent, or representative, or
work for or assist any entity representing the interests of franchisees,
whether as an employee, consultant, agent or otherwise. Cortino agrees that
such decision is in the sole discretion and authority of Papa John’s and agrees
to abide by its decision, which shall not be subject to review.

2.             Adequate
Consideration. Cortino agrees the consideration he is receiving
hereunder is fair and adequate to warrant enforcement of the terms and
conditions contained in this Agreement including, without limitation, the
General Release set forth in Paragraph 4 and the specific release set forth in
Paragraphs 5 and 10, and the non-competition and non-solicitation provisions
set forth in Paragraphs 6 and 7 therein.

3.             Retention
of Benefits. All benefits cease effective as of the Separation
Date set forth above; provided, however, any amounts held in trust in the Papa
John’s International, Inc. Deferred Compensation Plan and the Papa John’s
International, Inc. 401(k) Plan for the benefit of Cortino shall continue to be
held in trust for Cortino within the parameters of the existing plan. In
addition, any vested stock options held by Cortino shall remain exercisable
pursuant to the terms of the Papa John’s International, Inc. 1999 Team Member
Stock Ownership Plan, under which such options were issued. It is expressly
understood and agreed that Papa John’s will not make any contributions to the
401(k) Plan on Cortino’s behalf following his Separation Date. Cortino will be
eligible for COBRA benefits to the extent required by law.

4.             General
Release. In exchange for the specific consideration received in
Paragraph 1.a., l.b., and 1.c. above, which Cortino specifically acknowledges
and agrees he is not otherwise entitled to receive, Cortino fully and forever
releases, acquits, holds harmless and discharges Papa John’s from liability for
any and all claims, demands, actions and causes of action, charges,
obligations, costs or expenses of any nature which Cortino now has or may have
against them, and any other event, encounter, conversation, action, contact or
communication arising out of Cortino’s employment with Papa John’s. Any and all
facts, circumstances and events arising out of Cortino’s employment with Papa
John’s occurring prior to the signing of this Agreement cannot be used by
Cortino to impose liability on Papa John’s in any future proceeding against
Papa John’s. This Release includes, but is not limited to, the release of any
and all claims or charges of discrimination filed, or which could have been
filed, against Papa John’s by Cortino with the federal courts, Kentucky state
courts, other state courts, the Equal Employment Opportunity Commission, the
United States Department of Labor, the Kentucky Labor Cabinet, the Kentucky
Commission on Human Rights, or any other state or local civil rights agency;
claims or suits under the Fair Labor Standards Act of 1938, 29 U.S.C. § 201 et
seq.; Title VII of the Civil Rights Act of 1964, 42 U.S.C. § 2000e et
seq.; the Civil Rights Act of 1991, P.L. 102-166; the Civil Rights Act of
1866, 42 U.S.C. § 1981; the National Labor Relations Act, as amended, 29 U.S.C.
§ 151 et seq.; the Americans with Disabilities Act, 42 U.S.C. § 12101 et
seq.; State of Kentucky handicap/disability discrimination laws; the Family
and Medical Leave 

 Page 2 of 9
 

Act of 1993, 29 U.S.C. §
2601 et seq.; State of Kentucky family and medical/parental leave laws;
the Employee Retirement Income Security Act of 1974, 29 U.S.C. § 1001 et
seq.; The Federal Rehabilitation Act of 1973, 29 U.S.C. § 701 et seq.;
State of Kentucky civil/human rights law; State Kentucky equal opportunity
laws; State of Kentucky wage/hour laws; State of Kentucky workers’ compensation
laws; the Age Discrimination in Employment Act of 1967, 29 U.S.C. §§ 621-634,
as amended by the Older Workers’ Benefit Protection Act, P.L. 101-433; and any
other claims of employment discrimination, retaliation, intentional infliction
of emotional distress, defamation, invasion of privacy, tortious interference
with contractual relations, wrongful separation, outrage, promissory estoppel,
claims or demands arising under either express or implied contract, breach of
contract, tort, public policy, the common law, or any federal, state or local
statute, ordinance, regulation or constitutional provision, or other
liabilities, suits, union grievances, debts, claims for back pay, front pay,
compensatory or punitive damages, actual damages, consequential damages,
emotional distress, damages for humiliation and embarrassment, contractual
damages, injunctive relief, severance pay, costs, reinstatement, attorneys’
fees, commissions, bonuses, incentive compensation plans, vacation pay, pension
benefits or payment or reimbursement under any health insurance or other
employee benefit plan, insurance premiums or other sums of money, grievances,
expenses, demands, controversies of every kind and description, whether
liquidated or unliquidated, known or unknown, contingent or otherwise and
whether specifically mentioned or not, that Cortino now has or has had or which
may exist or might be claimed to exist at or prior to the date of this
Agreement against Papa John’s. Cortino specifically waives any claim or right
to assert that any cause of action, alleged cause of action/claim, charge or
demand has been, through oversight or error, intentionally or unintentionally,
omitted from this Agreement. Cortino specifically acknowledges that by signing
this Agreement, he will not receive, and is not entitled to receipt of, any
additional 401(k) benefit contributions, bonuses, or stock option grants from
Papa John’s, other than as set forth in this Agreement.

5.             Specific
Release Of Age Claims.

a.             Cortino agrees that in exchange for
the consideration received from Papa John’s described in Paragraphs 1 through 3
of this Agreement (to which Cortino agrees he is not otherwise entitled), that
this Agreement constitutes a knowing and voluntary release and waiver of all
rights or claims Cortino may have against Papa John’s including, but not
limited to, all rights or claims arising under the Age Discrimination in
Employment Act of 1967, 29 U.S.C. §§ 621-634, as amended by the Older Workers’
Benefit Protection Act, P.L. 101-433 (“ADEA”), including, but not limited to,
all claims of age discrimination in employment and all claims of retaliation in
violation of the ADEA and any state statute or local ordinance barring age
discrimination.

b.             Papa John’s and Cortino agree that,
by entering into this Agreement, Cortino does not waive rights or claims that
may arise after the date this Agreement is executed.

c.             Cortino represents and warrants
that Papa John’s advised Cortino in writing to consult with an attorney prior
to executing this Agreement and that Cortino in fact did 

 Page 3 of 9
 

have the opportunity to
consult with an attorney. Cortino further represents and warrants that Papa
John’s provided him a period of at least twenty-one (21) days in which to
consider this Agreement before executing this Agreement.

d.             Papa John’s and Cortino agree that,
for a period of seven (7) days following the execution of this Agreement,
Cortino has the right to revoke this Agreement, and Papa John’s and Cortino
further agree that this Agreement shall not become effective or enforceable
until the revocation period of seven (7) days has expired. Cortino agrees that
he will submit written notice of any revocation of this Agreement to Papa John’s
General Counsel.

e.             Cortino agrees that if he executes this
Agreement at any time prior to the end of the period that Papa John’s provided
him in which to consider this Agreement, such early execution was a knowing and
voluntary waiver of his right to consider this Agreement for at least
twenty-one (21) days, and was due to his desire to immediately receive
consideration provided hereunder and his belief that he had ample time in which
to consider and understand this Agreement, and in which to review this
Agreement with an attorney.

6.             Agreement
Not to Work for a Competitor in the Restaurant/Food Service Business.
Cortino agrees that for a period of three (3) years following his
Separation Date, he will not directly or indirectly compete with Papa John’s or
engage in, be employed by, render any service to or act in connection with any
person, partnership, limited liability company, corporation or other entity
that owns, operates, manages, franchises or licenses any business that (i)
sells pizza or other non-pizza products (excluding soft drinks) that are the same
or similar to those sold by Papa John’s restaurants on a delivery or carry-out
basis, including, without limitation, business formats such as Yum, Domino’s,
Mr. Gatti’s, Little Caesars; or (ii) derives 20% or more of its gross revenue,
or any of its subsidiaries, at the retail level from the sale of pre-cooked,
ready-to-eat food products on a delivery basis (“Competitive Business”).
Cortino further agrees that he will not directly or indirectly engage in any
such Competitive Business, directly or indirectly, as an individual, partner,
member, shareholder, director, officer, principal, agent, employee, consultant,
or in any other relationship or capacity; provided that the purchase of a
publicly traded security of a corporation engaged in such business or service
shall not in itself be deemed violative of this Section, so long as he does not
own, directly or indirectly, more than 1% of the securities of such
corporation.

7.             Agreement
Not to Solicit the Hiring of Papa John’s Employees. Cortino
agrees that for a period of three (3) years following his Separation Date, he
will not, directly or indirectly, hire, solicit or facilitate the hiring or
solicitation of any current or future Papa John’s corporate or franchisee
employee to work as an employee, consultant, agent or representative of Cortino
or any other person or entity regardless of whether Cortino has any personal or
business relationship with that person or entity.

8.             Waiver of
Re-employment. Cortino is eligible for rehire with Papa John’s.
However, Cortino recognizes that by signing this Agreement, he waives and
releases any right to 

 Page 4 of 9
 

re-employment or
reinstatement with Papa John’s, and agrees that Papa John’s is not under any
obligation to employ, reemploy or reinstate him in the future.

9.             Representation
of Claims. Cortino represents that he has not filed any
complaint or charges against Papa John’s with any local, state or federal
court, agency or board, based on events occurring prior to and including the
date of the signing of this Agreement.

10.           Complete Release.
It is Cortino’s specific intent and purpose to release and discharge Papa John’s
from liability for any and all claims, employment discrimination charges, and
causes of action of any kind or nature whatsoever arising out of Cortino’s
employment with Papa John’s, whether known or unknown, and whether specifically
mentioned or not, which may exist or might be claimed to exist at or prior to
the date hereof, and specifically waives any claim or right to assert that any
cause of action or alleged cause of action or charge arising out of his
employment with Papa John’s has been, through oversight or error, intentionally
or unintentionally, omitted from this Agreement.

It is Papa John’s
specific intent and purpose to release and discharge Cortino from liability for
any and all claims and causes of action of any kind or nature whatsoever
arising out of Cortino’s employment with Papa John’s, whether known or unknown,
and whether specifically mentioned or not, which may exist or might be claimed
to exist at or prior to the date hereof, and specifically waives any claim or
right to assert that any cause of action or alleged cause of action or charge
arising out of his employment with Papa John’s has been, through oversight or
error, intentionally or unintentionally, omitted from this Agreement.

11.           Tax Responsibility.
Cortino is advised that Papa John’s will be reporting the existence of this
Agreement to the appropriate taxing authorities. Cortino understands and agrees
that he is responsible for the payment of all federal, state and local taxes
related to his receipt of any and all income pursuant to this Agreement.
Cortino further understands and agrees that he will be responsible for his
personal tax liability, including any penalties, assessments or interest,
arising out of income derived from this Agreement. Cortino further understands
and agrees that he will defend and indemnify Papa John’s for any tax liability
or penalty assessed against Papa John’s as a result of income received by
Cortino under this Agreement, and will solely bear all costs, including
penalties, associated with such assessment.

12.           Non-Participation.
Cortino agrees to cooperate fully with Papa John’s in all its business dealings
and make himself available to Papa John’s for participating in all business
and/or legal proceedings, as needed by Papa John’s. Cortino further
specifically represents and agrees that unless required by law, he will not in
the future testify or participate in any way adverse to Papa John’s in any
claims filed against Papa John’s by any other governmental agency(ies),
association(s), business(es), organization(s), entity(ies) or individual(s) or
governmental agency(ies) in any local, state or federal court or any actions
before any local, state or federal agency or board, based upon any events or
facts occurring prior to and including the date of the signing of this
Agreement; provided, however, that notice of receipt of such discovery request,
judicial order or subpoena shall be immediately communicated (within two
business 

 Page 5 of 9
 

days) to Papa John’s
General Counsel, telephonically, and confirmed immediately thereafter in
writing so that Papa John’s will have the opportunity to intervene to assert
what rights it may have in non-disclosure prior to Cortino’s response to the
discovery request, order or subpoena.

13.           Confidentiality.
Cortino expressly warrants that he will not discuss either this agreement, or
the substance or specifics of the discussions giving rise to this agreement,
except as follows: (i) to the extent necessary to report income to appropriate
taxing authorities; (ii) to communicate with his attorney or agent as necessary
for obtaining legal and/or financial planning advice (in which case his
attorney or agent shall be advised of the need to keep such information
confidential); (iii) in response to any order of a court of competent
jurisdiction or in response to a legitimate discovery request pursuant to
established Rules of Civil Procedure; and (iv) in response to an order,
subpoena, deposition notice, or any other discovery request issued by or
through a state or federal court or governmental agency; provided, however,
that notice of receipt of such discovery request, judicial order or subpoena
shall be immediately communicated (within two business days) to Papa John’s
General Counsel, telephonically, and confirmed immediately thereafter in
writing so that Papa John’s will have the opportunity to intervene to assert
what rights it may have in non-disclosure prior to Cortino’s response to the
discovery request, order or subpoena. Cortino understands and acknowledges that
this agreement may be filed or the existence of this agreement may be disclosed
by Papa John’s with the appropriate authorities in connection with Papa John’s
obligations either as a publicly traded company, or otherwise.

14.           Non-Disclosure of
Confidential, Proprietary or Trade Secret Information. Cortino
also acknowledges that disclosure by him of any confidential, proprietary or
trade secret information of Papa John’s would put Papa John’s at a competitive
disadvantage in the marketplace. Therefore, Cortino agrees not to
misappropriate, disclose to any person or entity, or to use at any time, any
confidential, proprietary or trade secret information of Papa John’s.
Confidential, proprietary or trade secret information includes, but is not
limited to, any matters of a business nature, such as information regarding
short and long-term business plans and goals, strategies, product plans,
marketing plans, financial information, technical manufacturing information,
production schedules, production processes, employee personnel and medical
records, employee training and development materials and processes, customer
lists, pricing plans, and research and development plans. Cortino also acknowledges
that any information he has obtained and/or might obtain is protected from
disclosure by the attorney-client privilege, and he acknowledges that he is
obligated not to disclose such information at any time in the future.

15.           Breach of
Confidentiality Damages. Cortino agrees the foregoing
confidentiality/non-disclosure provisions are material elements of this
Agreement and are consideration for Papa John’s entering into this Agreement.
No action of Papa John’s shall be taken as a waiver of its right to insist that
Cortino abide by the confidentiality/non-disclosure terms of this Agreement
unless such waiver is in writing, specifically waiving such rights and is
signed by the above-referenced General Counsel for Papa John’s.

 Page 6 of 9
 

16.           Non-Disparagement.

a.             Cortino.
Cortino agrees that he will not do or say anything that a reasonable person
would expect to diminish or constrain the good will and good reputation of Papa
John’s, its products and/or services, as well as Nigel Travis, William Van Epps
and John H. Schnatter and their immediate families. Cortino agrees that he will
not disparage or seek to injure the reputation of Papa John’s, which includes,
but is not limited to, refraining from making negative statements about Papa
John’s, its strategies, methods of doing business, personnel, the effectiveness
of their business policies and practices and the quality of any of their
products, services or personnel. Nothing in this paragraph shall be construed
to prohibit Cortino from testifying truthfully with respect to his opinions and
beliefs concerning his experiences at Papa John’s if called as a witness in
some other proceeding.

b.             Company.
Papa John’s agrees that neither it nor any of its Chief Officers will do or say
anything that a reasonable person would expect to disparage Cortino or his
employment-related job skills or job performance. Nothing in this paragraph
shall be construed to prohibit Papa John’s or any of its officers from
testifying truthfully with respect to its/their opinions and beliefs concerning
their experiences if called as a witness in some other proceeding.

17.           Consequences of Cortino’s
Breach of this Agreement. The parties agree that damages for
breaching this Agreement are difficult to calculate and not readily
ascertainable. Upon breach of numerical paragraphs 6, 7, 13, 14, 15 or 16 of
this Agreement, Papa John’s shall be entitled to liquidated damages from
Cortino in an amount of at least One Hundred Fifty Thousand Dollars
($150,000.00) or Papa John’s actual damages, whichever is greater. Cortino also
agrees that if he breaches paragraphs 6, 7, 13, 14, 15 or 16 at any time, Papa
John’s may not have an adequate remedy at law, and Papa John’s will be entitled
to any injunctive relief deemed appropriate by a court of competent
jurisdiction sitting in equity, and Papa John’s shall be entitled to any
attorneys’ fees expended enforcing the terms of this Agreement.

18.           Non-Admission.
Each party understands that this Agreement is not an admission of liability or
wrongdoing by the other.

19.           Complete Agreement.
This Agreement constitutes the entire agreement between the parties and
supersedes any and all prior or contemporaneous, oral or written agreements or
understandings between the parties. No representation, promise, inducement or
statement of intention has been made by Papa John’s that is not embodied in
this Agreement. No party shall be bound by, or liable for, any alleged
representation, promise, inducement, or statement of intention not contained in
this Agreement. This Agreement cannot be amended, modified, or supplemented in
any respect except by subsequent written agreement signed by all parties to
this Agreement.

 Page 7 of 9
 

20.           Legal Rights.
Cortino and Papa John’s agree that no release, waiver or other promise set
forth in this Agreement shall be construed to prohibit either party from
enforcing the terms of this Agreement in a court of competent jurisdiction.
Furthermore, failure by either party at any time and in its discretion to
insist upon strict compliance with any provision of this Agreement shall not be
construed as a waiver of such party’s right to insist upon strict compliance
with such provision in the future. Should it be held at any time by a court of
competent jurisdiction that any of the obligations, covenants or agreements set
forth in this Agreement are illegal, invalid or unenforceable, the validity of
the remaining parts, terms, or provisions shall not be affected thereby and any
illegal, invalid or unenforceable parts, terms or provisions shall be deemed
not to be a part of this Agreement.

21.           Choice of Law.
This Agreement shall be interpreted and enforced in accordance with the laws of
the Commonwealth of Kentucky. Cortino consents to the exclusive jurisdiction of
courts located in Kentucky, agreeing to waive any argument of lack of personal
jurisdiction or forum non conveniens with respect
to any claim or controversy arising out of or relating to this Agreement or
Cortino’s employment with Papa John’s.

22.           Not Valid Unless
Signed by Both Parties. This Agreement is not valid unless signed
by both parties hereto.

	
  

  	
  /s/ Michael Cortino

  
	
   

  	
  MICHAEL CORTINO

  

 

	
  COMMONWEALTH OF KENTUCKY

  	
  )

  
	
   

  	
  : SS

  
	
  COUNTY OF
  JEFFERSON

  	
  )

  

 

ACKNOWLEDGED,
SUBSCRIBED AND SWORN to before me by Michael Cortino,
as his free act and deed, this 27th day of January, 2007.

My Commission
Expires: August 13, 2010

	
  

  	
  /s/ Kimberly A. Winebrenner

  
	
   

  	
  Notary Public

  
	
   

  	
   

  
	
   

  	
  PAPA JOHN’S USA, INC.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Richard J. Emmett

  
	
   

  	
  Title:

  	
  Senior Vice President & General Counsel

  

 

 Page 8 of 9
 

 

	
  COMMONWEALTH OF KENTUCKY

  	
  )

  
	
   

  	
  : SS

  
	
  COUNTY OF
  JEFFERSON

  	
  )

  

 

ACKNOWLEDGED,
SUBSCRIBED AND SWORN to before me by Richard
J. Emmett on behalf of Papa John’s USA, Inc.,
this 27th day of January, 2007.

My Commission
Expires: August 13, 2010

	
  

  	
  /s/ Kimberly A. Winebrenner

  
	
   

  	
  Notary Public

  

 

 Page 9 of 9

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