Document:

Third Amd. to Retirement Plan

EXHIBIT 10.83 
 
THIRD AMENDMENT 
TO THE 
GALEY & LORD RETIREMENT SAVINGS PLAN (401(k))

 
WHEREAS, Galey & Lord, Inc. (the
“Company”) maintains The Galey & Lord Retirement Savings Plan (401(k)), most recently amended and restated as of January 1, 2000 (the “Plan”). 
 
WHEREAS, the Employer is obligated to amend the Plan in accordance with the Community Renewal Tax
Relief Act of 2000; and 
 
WHEREAS, the
Company wishes to amend the Plan in accordance with the Model Amendment as set forth in Revenue Procedure 2002-29. 
 
NOW, THEREFORE, the Plan is amended as follows: 
 
I. The Plan is hereby amended by adding Addendum A (as attached hereto) immediately following the last
page of the Plan. 
 
II. The definition of
“Compensation” in Section 1.7 is amended by adding following sentence to the definition to read as follows: 
 
Effective for Plan Years beginning after December 31, 2000, “Compensation,” as defined above, and for purposes of Code Section
415 limits on Plan benefits and contributions, shall also include any amount which is contributed by the Employer pursuant to a salary reduction agreement and which is not included in gross income of the Employee under Section 132(f) of the Code.

 
III. Effective for limitation years
ending after December 31, 2001, the last sentence of Section 7.3 of the Plan is amended in its entirety to read as follows: 
 
The definition of eligible retirement Plan shall also apply in the case of a distribution to a surviving spouse, or to a spouse or former
spouse who is the alternate payee under a qualified domestic relation order, as defined in Code §414(p). 
 
IV. Unless otherwise amended herein, the provisions of the Plan are hereby ratified and confirmed. 
 
THIS AMENDMENT IS EXECUTED this 12th day of December,
2002. 
 

	  GALEY & LORD, INC.

	
	  By:
	  	  /s/    Leonard F. Ferro

	  	  	

 
ADDENDUM A

MINIMUM REQUIRED DISTRIBUTIONS 
 
(Model Amendment as set forth in Revenue Procedure 2002-29) 
 
Section 1. General Rules 
 
1.1. Effective Date. The provisions of this Addendum will apply for purposes
of determining required minimum distributions for calendar years beginning with the 2003 calendar year. 
 
1.2. Precedence. The requirements of this Addendum will take precedence over any inconsistent provisions of the Plan. 
 
1.3. Requirements of Treasury Regulations Incorporated. All distributions required under this Addendum will be determined and
made in accordance with the Treasury regulations under Section 401(a)(9) of the Code. 
 
1.4. TEFRA Section 242(b)(2) Elections. Notwithstanding the other provisions of this Addendum, distributions may be made under a designation made before January 1, 1984, in accordance with section 242(b)(2) of the Tax Equity
and Fiscal Responsibility Act (TEFRA) and the provisions of the Plan that relate to section 242(b)(2) of TEFRA.] 
 
Section 2. Time and Manner of Distribution. 
 
2.1. Required Beginning Date. The Participant’s entire interest will be distributed, or begin to be distributed, to the Participant no later than the Participant’s “required beginning
date”. 
 
2.2. Death of Participant Before Distributions
Begin. If the Participant dies before distributions begin, the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows: 
 
(a) If the Participant’s surviving spouse is the Participant’s sole designated
beneficiary, then distributions to the surviving spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have
attained age 701⁄2, if later. 
 
(b) If the Participant’s surviving spouse is not the Participant’s sole designated beneficiary, then distributions to the designated beneficiary will begin by December 31 of the calendar year immediately following the
calendar year in which the Participant died. 
 
(c) If there is no designated beneficiary as of September 30 of the year following the year of the Participant’s death, the Participant’s entire interest will be distributed by December 31 of the calendar year containing
the fifth anniversary of the Participant’s death. 
 
(d) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary and the surviving spouse dies after the Participant but before distributions to the surviving spouse begin, this Section
2.2, other than subsection (a), will apply as if the surviving spouse were the Participant. 
 
For purposes of this section 2.2 and section 4, unless section 2.2(d) applies, distributions are considered to begin on the Participant’s required beginning date. If section 2.2(d) applies,
distributions are considered to begin on the date distributions are required to begin to the surviving spouse under section 2.2(a). If distributions under an annuity purchased from an insurance company irrevocably commence to the 
 

Addendum A – Page 1 of 4 (PN014) 

 
Participant before the
Participant’s required beginning date (or to the Participant’s surviving spouse before the date distributions are required to begin to the surviving spouse under section 2.2(a)), the date distributions are considered to begin is the date
distributions actually commence. 
 
2.3. Forms of Distribution.
Unless the Participant’s interest is distributed in the form of an annuity purchased from an insurance company or in a single sum on or before the required beginning date, as of the first distribution calendar year, distributions will be made
in accordance with Sections 3 and 4 of this Addendum. If the Participant’s interest is distributed in the form of an annuity purchased from an insurance company, distributions thereunder will be made in accordance with the requirements of
section 401(a)(9) of the Code and the Treasury regulations. 
 
Section 3. Required Minimum Distributions During Participant’s Lifetime. 
 
3.1. Amount of Required Minimum Distribution For Each Distribution Calendar Year. During the Participant’s lifetime, the minimum amount that will be distributed for each distribution calendar year
is the lesser of: 
 
(a) the
quotient obtained by dividing the Participant’s account balance by the distribution period in the Uniform Lifetime Table set forth in section 1.401(a)(9)-9 of the Treasury regulations, using the Participant’s age as of the
Participant’s birthday in the distribution calendar year; or 
 
(b) if the Participant’s sole designated beneficiary for the distribution calendar year is the Participant’s spouse, the quotient obtained by dividing the Participant’s account balance
by the number in the Joint and Last Survivor Table set forth in section 1.401(a)(9)-9 of the Treasury regulations, using the Participant’s and spouse’s attained ages as of the Participant’s and spouse’s birthdays in the
distribution calendar year. 
 
3.2. Lifetime Required Minimum
Distributions Continue Through Year of Participant’s Death. Required minimum distributions will be determined under this Section 3 beginning with the first distribution calendar year and up to and including the distribution calendar year that
includes the Participant’s date of death. 
 
Section 4.
Required Minimum Distributions After Participant’s Death. 
 
4.1. Death On or After Date Distributions Begin. 
 
(a) Participant Survived by Designated Beneficiary. If the Participant dies on or after the date distributions begin and there is a designated beneficiary, the minimum amount that will be distributed
for each distribution calendar year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s account balance by the longer of the remaining life expectancy of the Participant or the remaining life
expectancy of the Participant’s designated beneficiary, determined as follows: 
 
(1) The Participant’s remaining life expectancy is calculated using the age of the Participant in the year of death,
reduced by one for each subsequent year. 
 
(2) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary, the remaining life expectancy of the surviving spouse is calculated for each distribution calendar year after the year of the
Participant’s death using the surviving spouse’s age as of the spouse’s birthday in that year. For distribution calendar years after the year of the surviving spouse’s death, the remaining life expectancy of the surviving

 

Addendum A – Page 2 of 4 (PN014) 

 
spouse is
calculated using the age of the surviving spouse as of the spouse’s birthday in the calendar year of the spouse’s death, reduced by one for each subsequent calendar year. 
 
(3) If the Participant’s surviving spouse is not the Participant’s sole designated
beneficiary, the designated beneficiary’s remaining life expectancy is calculated using the age of the beneficiary in the year following the year of the Participant’s death, reduced by one for each subsequent year. 
 
(b) No Designated Beneficiary. If the
Participant dies on or after the date distributions begin and there is no designated beneficiary as of September 30 of the year after the year of the Participant’s death, the minimum amount that will be distributed for each distribution
calendar year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s account balance by the Participant’s remaining life expectancy calculated using the age of the Participant in the year of
death, reduced by one for each subsequent year. 
 
4.2. Death
Before Date Distributions Begin. 
 
(a) Participant Survived by Designated Beneficiary. Except as provided in the adoption agreement, if the Participant dies before the date distributions begin and there is a designated beneficiary, the minimum amount that will be
distributed for each distribution calendar year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s account balance by the remaining life expectancy of the Participant’s designated
beneficiary, determined as provided in section 4.1. 
 
(b) No Designated Beneficiary. If the Participant dies before the date distributions begin and there is no designated beneficiary as of September 30 of the year following the year of the Participant’s death,
distribution of the Participant’s entire interest will be completed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death. 
 
(c) Death of Surviving Spouse Before Distributions to Surviving Spouse Are Required to Begin.
If the Participant dies before the date distributions begin, the Participant’s surviving spouse is the Participant’s sole designated beneficiary, and the surviving spouse dies before distributions are required to begin to the surviving
spouse under section 2.2(a), this section 4.2 will apply as if the surviving spouse were the Participant. 
 
Section 5. Definitions. 
 
5.1. Designated beneficiary. The individual who is designated as the beneficiary under Section 1.4 of the Plan and is the designated beneficiary under Section 401a)(9) of the and Section 1.401(a)(9)-1, Q&A-4, of the Treasury
regulations. 
 
5.2. Distribution calendar year. A calendar year
for which a minimum distribution is required. For distributions beginning before the Participant’s death, the first distribution calendar year is the calendar year immediately preceding the calendar year which contains the Participant’s
required beginning date. For distributions beginning after the Participant’s death, the first distribution calendar year is the calendar year in which distributions are required to begin under section 2.2. The required minimum distribution for
the Participant’s first distribution calendar year will be made on or before the Participant’s required beginning date. The required minimum distribution for other distribution calendar years, including the required minimum distribution
for the distribution calendar year in which the Participant’s required beginning date occurs, will be made on or before December 31 of that distribution calendar year. 
 

Addendum A – Page 3 of 4 (PN014) 

 
5.3. Life expectancy. Life
expectancy as computed by use of the Single Life Table in Section 1.401(a)(9)-9 of the Treasury regulations. 
 
5.4. Participant’s account balance. The account balance as of the last valuation date in the calendar year immediately preceding the distribution calendar year (valuation calendar year) increased
by the amount of any contributions made and allocated or forfeitures allocated to the account balance as of dates in the valuation calendar year after the valuation date and decreased by distributions made in the valuation calendar year after the
valuation date. The account balance for the valuation calendar year includes any amounts rolled over or transferred to the plan either in the valuation calendar year or in the distribution calendar year if distributed or transferred in the valuation
calendar year. 
 
5.5. Required beginning date. A
Participant’s “required beginning date” means the following: 
 
(a) for a Participant who is not a “five percent owner”, April 1 of the calendar year following the calendar year in which occurs the later of the Participant’s (i) attainment of age
701⁄2 or (ii) the date on which the Participant actually retires. 
 
(b) for a Participant who is a “five percent owner”, April 1 of the calendar year following the calendar year in which the Participant attains age 701⁄2. 
 
A Participant is a “five percent owner” if he is a five percent
owner, as defined in Code Section 416(i) and determined in accordance with Code Section 416, but without regard to whether the Plan is top-heavy, for the Plan Year ending with or within the calendar year in which the Participant attains age 701⁄2
.. The Required Beginning Date of a Participant who is a “five percent owner” hereunder shall not be redetermined if the Participant ceases to be a five percent owner as defined in Code Section 416(i) with respect to any subsequent Plan
Year. 
 
Section 6. Elections. 
 
6.1. Election to Allow Participants or Beneficiaries to Elect 5-Year Rule.
Participants or beneficiaries may elect on an individual basis whether the 5-year rule or the life expectancy rule in Sections 2.2 and 4.2 of this Addendum A applies to distributions after the death of a Participant who has a designated beneficiary.
The election must be made no later than the earlier of September 30 of the calendar year in which distribution would be required to begin under Section 2.2 of this Addendum A, or by September 30 of the calendar year which contains the fifth
anniversary of the Participant’s (or, if applicable, surviving spouse’s) death. If neither the Participant nor beneficiary makes an election under this paragraph, distributions will be made in accordance with Sections 2.2 and 4.2 of this
Addendum A. The 5-year rule provides that the Participant’s entire interest will be distributed to the designated beneficiary by December 31 of the calendar year containing the fifth anniversary of the Participant’s death. 
 
6.2. Election to Allow Designated Beneficiary Receiving Distributions Under
5-Year Rule to Elect Life Expectancy Distributions. A designated beneficiary who is receiving payments under the 5-year rule may make a new election to receive payments under the life expectancy rule until December 31, 2003, provided that all
amounts that would have been required to be distributed under the life expectancy rule for all distribution calendar years before 2004 are distributed by the earlier of December 31, 2003 or the end of the 5-year period. 
 

Addendum A – Page 4 of 4 (PN014)Amendment No. 1 to Credit Agreement

 
Exhibit
4.2 
 
AMENDMENT NO. 1 TO CREDIT
AGREEMENT 
 
This Amendment No. 1 to Credit
Agreement (this “Agreement”) dated as of September 13, 2002 is made by and among OMNOVA SOLUTIONS INC., an Ohio corporation (“OMNOVA” or the “Borrower”), BANK OF AMERICA, N.A., in its
capacity as administrative agent (in such capacity, the “Agent”), each of the Lenders (as defined in the Credit Agreement, defined below) signatory hereto, and each of the Guarantors (as defined in the Credit Agreement) signatory
hereto. 
 
W I T N E S S E T H:

 
WHEREAS, the Borrower, the Agent and
each of the Lenders have entered into that certain Amended and Restated Credit Agreement dated as of April 12, 2001 (as hereby amended and as from time to time hereafter further amended, modified, supplemented, restated, or amended and restated, the
“Credit Agreement”; the capitalized terms as used in this Agreement not otherwise defined herein shall have the respective meanings given thereto in the Credit Agreement), pursuant to which the Lenders have made available to the
Borrower revolving credit facility (including a letter of credit facility and a swing line facility); and 
 
WHEREAS, each of the Guarantors has entered into a Facility Guaranty pursuant to which it has guaranteed certain or all of the
obligations of the Borrower under the Credit Agreement and the other Loan Documents; and 
 
WHEREAS, the Borrower has advised the Agent and the Lenders that it desires to amend certain provisions of the Credit Agreement as set forth herein, and the Agent and the Lenders have agreed so
to amend the Credit Agreement on the terms and conditions set forth herein; 
 
NOW, THEREFORE, in consideration of the premises and further valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:

 
1. Amendments to Credit Agreement.
Subject to the terms and conditions set forth herein, the Credit Agreement is hereby amended as follows: 
 
(a) Section 1.2 is hereby amended by deleting the table found in the definition of “Applicable Margin” in
its entirety and replacing such table with the following: 

 

	  	   	  	     	  Applicable Margin

	  Level

	   	  Leverage Ratio

	     	  Eurodollar Rate

	   	  Base Rate

	
	  I
	   	  Greater than 4.00 to 1.00
	     	  3.50%
	   	  1.00%

	
	  II
	   	  Less than or equal to 4.00 to 1.00 but greater than 3.50 to 1.00
	     	  3.00%
	   	  0.75%

	
	  III
	   	  Less than or equal to 3.50 to 1.00 but greater than 3.00 to 1.00
	     	  2.50%
	   	  0.00%

	
	  IV
	   	  Less than or equal to 3.00 to 1.00 but greater than 1.50 to 1.00
	     	  1.75%
	   	  0.00%

	
	  V
	   	  Less than or equal to 1.50 to 1.00
	     	  0.75%
	   	  0.00%

 
(b) Section 1.2 is hereby amended by adding the following sentence to the end of the definition of “Applicable Margin”: 
 
From and including September 13, 2002 until the date that the Applicable Margin is determined for the Determination Date corresponding
with the fiscal quarter of the Borrower ending November 30, 2002, in accordance with the provisions of this paragraph, the Applicable Margin shall be Level II. 
 
(c) Section 1.2 is hereby amended by deleting the table found in the definition of “Applicable Unused
Fee” in its entirety and replacing such table with the following: 
 

	  Level

	   	  Leverage Ratio

	     	  Applicable
Unused Fee

	
	  I
	   	  Greater than 4.00 to 1.00
	     	  0.50%

	
	  II
	   	  Less than or equal to 4.00 to 1.00 but greater than 3.50 to 1.00
	     	  0.40%

	
	  III
	   	  Less than or equal to 3.50 to 1.00 but greater than 3.00 to 1.00
	     	  0.35%

	
	  IV
	   	  Less than or equal to 3.00 to 1.00 but greater than 1.50 to 1.00
	     	  0.30%

	
	  V
	   	  Less than or equal to 1.50 to 1.00
	     	  0.25%

 
(d) Section 1.2 is hereby amended by adding the following sentence to the end of the definition of “Applicable Unused Fee”: 
 
From and including September 13, 2002 until the date that the Applicable Unused Fee is determined for the Determination Date corresponding
with the fiscal 
 

2 

 
quarter of
the Borrower ending November 30, 2002, in accordance with the provisions of this paragraph, the Applicable Unused Fee shall be Level II. 
 
(e) Section 1.2 is hereby amended by deleting the definition of “Total Revolving Credit Commitment” in
its entirety and replacing such definition with the following: 
 
“Total Revolving Credit Commitment” means a principal amount equal to $200,000,000, as reduced from time to time in accordance with Sections 2.1(e) and (f). 
 
(f) The table set forth in Section
10.1(a) is hereby deleted in its entirety and replaced with the following table: 
 

	  Four-Quarter Period Ending:

	     	  Maximum Consolidated
 
Leverage Ratio

	
	  February 28, 2001 and
  May 31, 2001
	     	  5.95 to 1.00

	
	  August 31, 2001
	     	  5.00 to 1.00

	
	  November 30, 2001,
  February 28, 2002 and
  May 31, 2002
	     	  3.75 to 1.00

	
	  August 31, 2002
	     	  4.00 to 1.00

	
	  November 30, 2002 and
  February 28, 2003
	     	  4.75 to 1.00

	
	  May 31, 2003
	     	  3.75 to 1.00

	
	  August 31, 2003 and thereafter
	     	  3.25 to 1.00

 
(g) The table set forth in Section 10.1(b) is hereby deleted in its entirety and replaced with the following table: 
 

	  Four-Quarter Period Ending:

	     	  Minimum Consolidated
 
Interest Coverage Ratio

	
	  February 28, 2001 and
  May 31, 2001
	     	  2.00 to 1.00

	
	  August 31, 2001
	     	  2.25 to 1.00

	
	  November 30, 2001,
  February 28, 2002 and
  May 31, 2002
	     	  2.75 to 1.00

	
	  August 31, 2002 and thereafter
	     	  3.00 to 1.00

 

3 

(h) Amend Section 10.2(iii)(B)(Y) by deleting the reference to
“3.50 to 1.00” therein and replacing it with “3.25 to 1.00”. 
 
(i) Section 10.3 is hereby deleted in its entirety and replaced with the following: 
 
10.3 Capital Expenditures. Make or become committed to make Capital Expenditures which exceed $25,000,000 in the
aggregate in each Fiscal Year of the Borrower, on a noncumulative basis, with the effect that amounts not expended in any Fiscal Year may not be carried forward to a subsequent period. 
 
2. Conditions Precedent. The effectiveness of this Agreement and the amendments to the Credit
Agreement herein provided, are subject to the satisfaction of the following conditions precedent: 
 
(a) The Agent shall have received each of the following documents or instruments in form and substance reasonably
acceptable to the Agent: 
 
(i)
four (4) original counterparts of this Agreement, duly executed by the Borrower, the Agent, each Guarantor and the Required Lenders, together with all schedules and exhibits thereto duly completed; and 
 
(ii) such other documents, instruments,
opinions, certifications, undertakings, further assurances and other matters as the Agent shall reasonably require; 
 
(b) all fees and expenses payable to the Agent and the Lenders (including the fees and expenses of counsel to the Agent)
accrued to date, including all fees associated with this Agreement, shall have been paid in full. 
 
3. Additional Undertakings. In addition to the foregoing, and in further consideration of the amendments to the Credit Agreement
set forth herein, each Credit Party, by its respective execution of this Agreement, hereby: 
 
(a) warrants, represents and acknowledges to the Agent and each of the Lenders that, as of the date of this Agreement, it
has no existing credit, charge, defense, counterclaim, offset, cross-complaint, claim or demand of any kind or nature whatsoever that can be asserted to reduce or eliminate all or any part of its respective liability to pay the full indebtedness
outstanding under the terms of the Credit Agreement and each of the other Loan Documents and any other documents which evidence, guaranty or secure the Obligations; 
 
(b) releases and forever discharges the Agent, each Lender, and all of their respective
officers, directors, employees, attorneys and agents from any and all actions, claims, causes of action, debts, dues, claims, demands, liabilities and obligations of every kind and nature, both in law and in equity, known or unknown, whether matured
or 
 

4 

 
unmatured,
absolute or contingent, including any usury claims that arise out of any one or more circumstances or events that occurred prior to the date of this Agreement; 
 
(c) waives any and all claims now or hereafter arising from or related to any delay by the Agent or any Lender in
exercising any rights or remedies under the Credit Agreement or any of the other Loan Documents, including, without limitation, any delay in foreclosing any Collateral securing any of the Obligations or Guarantors’ Obligations or
Guarantor’s Obligations, as applicable; 
 
(d) represents and warrants that each of the Credit Parties is in compliance with all of the terms and conditions of the Credit Agreement and each of the other Loan Documents and no other Default or Event of Default exists under the
Credit Agreement or any of the other Loan Documents; and 
 
(e) acknowledges and agrees that the Agent and the Lenders reserve all rights which they may have arising out of or relating to any Default or Event of Default and that any action or failure to take action on the part of
either Agent or any Lender shall not operate as a waiver of any such rights. 
 
4. Consent of the Guarantors. Each of the Guarantors has joined in the execution of this Agreement for the purposes of consenting hereto and for the further purpose of confirming its guaranty of
the Obligations of the Borrower pursuant to the Facility Guaranty to which such Guarantor is party. Each Guarantor hereby consents, acknowledges and agrees to the amendments of the Credit Agreement set forth herein and hereby confirms and ratifies
in all respects the Facility Guaranty to which such Guarantor is a party and the enforceability of such Facility Guaranty against such Guarantor in accordance with its terms. 
 
5. Representations and Warranties. In order to induce the Agent and the Lenders to enter into this
Agreement, the Borrower and the Guarantors, as applicable, represent and warrant to the Agent and the Lenders as follows: 
 
(a) The representations and warranties made by the Borrower in Article VIII of the Credit Agreement (after giving
effect to this Agreement), other than the representations and warranties contained in Section 8.5(b) of the Credit Agreement with respect to those matters that have been previously disclosed to the Agent and the Lenders leading to this
Agreement, and in each of the other Loan Documents to which it is a party are true and correct in all material respects on and as of the date hereof, except to the extent that such representations and warranties expressly relate to an earlier date;

 
(b) Other than the circumstances
previously disclosed to the Lenders leading to this Agreement, there has been no material adverse change in the condition, financial or otherwise, of the Borrower and its Subsidiaries, taken as a whole, since November 30, 2001; and 
 
(c) No Default or Event of Default has
occurred and is continuing. 
 

5 

6. Entire Agreement. This Agreement, together with all the Loan Documents
(collectively, the “Relevant Documents”), sets forth the entire understanding and agreement of the parties hereto in relation to the subject matter hereof and supersedes any prior negotiations and agreements among the parties
relative to such subject matter. No promise, condition, representation or warranty, express or implied, not herein set forth shall bind any party hereto, and not one of them has relied on any such promise, condition, representation or warranty. Each
of the parties hereto acknowledges that, except as otherwise expressly stated in the Relevant Documents, no representations, warranties or commitments, express or implied, have been made by any party to the other. None of the terms or conditions of
this Agreement may be changed, modified, waived or canceled orally or otherwise, except as permitted pursuant to Section 13.6 of the Credit Agreement. 
 
7. Full Force and Effect of Agreement. Except as hereby specifically amended, modified or supplemented, the Credit Agreement and
all other Loan Documents are hereby confirmed and ratified in all respects by each party hereto and shall be and remain in full force and effect according to their respective terms. 
 
8. Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be
deemed an original as against any party whose signature appears thereon, and all of which shall together constitute one and the same instrument. 
 
9. Governing Law. This Agreement shall in all respects be governed by, and construed in accordance with, the laws of the state of
Ohio. 
 
10. Enforceability. Should any one
or more of the provisions of this Agreement be determined to be illegal or unenforceable as to one or more of the parties hereto, all other provisions nevertheless shall remain effective and binding on the parties hereto. 
 
11. References. All references in any of the Loan
Documents to the “Credit Agreement” shall mean the Credit Agreement, as amended hereby. 
 
12. Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the Borrower, the Agent and each of
the Guarantors and Lenders, and their respective successors, assigns and legal representatives; provided, however, that neither the Borrower nor any Guarantor, without the prior consent of the Required Lenders, may assign any rights, powers,
duties or obligations hereunder. 
 
13.
Expenses. The Borrower agrees to pay to the Agent all reasonable out-of-pocket expenses incurred or arising in connection with the negotiation and preparation of this Agreement. 
 
[Signature pages follow.] 
 

6 

 
IN WITNESS
WHEREOF, the parties hereto have caused this Amendment No. 1 to Credit Agreement to be made, executed and delivered by their duly authorized officers as of the day and year first above written. 
 

	  BORROWER:

	  	  	  
	  OMNOVA SOLUTIONS INC.

	
	  By:
	  	   
  /s/
M.E. Hicks

	  Name:
	  	   
  M.E.
Hicks

	  Title
	  	  Senior Vice President and
  Chief Financial Officer, Treasurer

 

	  	  	  
	  GUARANTORS:

	  	  	  
	  DECORATIVE PRODUCTS THAILAND, INC.

	
	  By:
	  	   
  /s/
M.E. Hicks

	  Name:
	  	   
  M.E.
Hicks

	  Title:
	  	  Treasurer

 

	  	  	  
	  OMNOVA OVERSEAS INC.

	
	  By:
	  	   
  /s/
M.E. Hicks

	  Name:
	  	   
  M.E.
Hicks

	  Title:
	  	  Treasurer

 
 

	  	  	  
	  OMNOVA WALLCOVERING (USA), INC.

	
	  By:
	  	  /s/ M.E. Hicks

	  Name:
	  	   
  M.E.
Hicks

	  Title:
	  	  Treasurer

 
Amendment No. 1 
Signature Page 1 

 

	  ADMINISTRATIVE AGENT:

	  	  	  
	  BANK OF AMERICA, N.A., as Agent

	
	  By:
	  	   
  /s/
Kathleen M. Carry

	  Name:
	  	   
  Kathleen M. Carry

	  Title:
	  	  Vice President

 
Amendment No. 1 
Signature Page 2 
 

 

	  LENDERS:

	  BANK OF AMERICA, N.A.

	
	  By:
	  	  /s/ Raju N. Patel

	  Name:
	  	   
  Raju
N. Patel

	  Title:
	  	  Principal

 
Amendment No. 1 
Signature Page 3 

 

	  BANK ONE, NA Successor by Merger to
      BANK ONE, MICHIGAN

	
	  By:
	  	  /s/ Glenn A. Currin

	  Name:
	  	  Glenn A. Currin

	  Title:
	  	  Managing Director

 
Amendment No. 1 
Signature Page 4 

 

	  DEUTSCHE BANK AG, New York or Cayman Islands Branch

	
	  By:
	  	  /s/ Mark B. Cohen

	  Name:
	  	  Mark B. Cohen

	  Title:
	  	  Managing Director

 
Amendment No. 1 
Signature Page 5 

 

	  COMERICA BANK

	
	  By:
	  	  /s/ Jeffrey J. Judge

	  Name:
	  	  Jeffrey J. Judge

	  Title:
	  	  Vice President

 
Amendment No. 1 
Signature Page 6 

 

	  FIFTH THIRD BANK

	
	  By:
	  	  /s/ James P. Byrnes

	  Name:
	  	  James P. Byrnes

	  Title:
	  	  Vice President

 
Amendment No. 1 
Signature Page 7 

 

	  WACHOVIA BANK NATIONAL ASSOCIATION (successor to First Union
National Bank) 

	
	  By:
	  	  /s/ Robert A. Brown

	  Name:
	  	  Robert A. Brown

	  Title:
	  	  Director

 
Amendment No. 1 
Signature Page 8 
 

 

	  KEYBANK NATIONAL ASSOCIATION

	
	  By:
	  	  /s/ Marianne T. Meil

	  Name:
	  	  Marianne T. Meil

	  Title:
	  	  Vice President

Amendment No. 1 
Signature Page 9 
 

 

	  NATIONAL CITY BANK

	
	  By:
	  	  /s/ Robert S. Coleman

	  Name:
	  	  Robert S. Coleman

	  Title:
	  	  Senior Vice President

 
Amendment No. 1 
Signature Page 10 

 
[Page
Intentionally Left Blank] 
 
Amendment No. 1

Signature Page 11 

 

	  THE BANK OF NEW YORK

	
	  By:
	  	   
  /s/ Kenneth R. McDonnell

	  Name:
	  	   
  Kenneth R. McDonnell

	  Title:
	  	   
  Assistant Vice President

 
Amendment No. 1 
Signature Page 12 

 

	  MIZUHO CORPORATE BANK (successor to The Industrial Bank of Japan, Limited)

	
	  By:
	  	  /s/ Noel P. Purcell

	  Name:
	  	  Noel P. Purcell

	  Title:
	  	  Senior Vice President

 
Amendment No. 1 
Signature Page 13 

 

	  GE CAPITAL CFE, INC.

	
	  By:
	  	  /s/ Robert M. Kadlick

	  Name:
	  	  Robert M. Kadlick

	  Title:
	  	  Duly Authorized Signatory

 
Amendment No. 1 
Signature Page 14 

 

	  THE NORTHERN TRUST COMPANY

	
	  By:
	  	  /s/ Barbara A. Tuszynska

	  Name:
	  	  Barbara A. Tuszynska

	  Title:
	  	  Second Vice President

 
 
Amendment No. 1 
Signature Page 15 
 

	  SUMITOMO MITSUI BANKING CORPORATION

	
	  By:
	  	  /s/ Suresh Tata

	  Name:
	  	  Suresh Tata

	  Title:
	  	  Senior Vice President

 
Amendment No. 1 
Signature Page 16

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