Document:

Exhibit 10.27 to St. Jude Medical, Inc. Form 10-K for fiscal year ended 12-31-2005

Exhibit 10.27 

AMENDMENT NO. 2 TO

MULTI-YEAR CREDIT AGREEMENT 

        This Amendment No. 2 to
Credit Agreement (this “Amendment”) dated as of November 7, 2005 is made by and between ST. JUDE MEDICAL, INC., a
Minnesota corporation (the “Borrower”), each lender party hereto (collectively, the “Lenders”
and individually, a “Lender”), and BANK OF AMERICA, N.A., as Administrative Agent, a Lender and L/C Issuer (in
such capacity, the “Administrative Agent”). Capitalized terms used herein and not defined herein shall have the
meanings assigned to such terms in the Credit Agreement (as defined below). 

W I T N E S S E T H: 

        WHEREAS, the Borrower,
the Lenders and the Administrative Agent entered into that certain Multi-Year Credit Agreement dated as of September 11, 2003 (as
amended by Amendment No. 1 dated September 28, 2004, as hereby amended, and as from time to time hereafter further amended,
restated, supplemented or otherwise modified, the “Credit Agreement”) by and among the Borrower, the Lenders, the
Administrative Agent, Banc of America Securities LLC, as Sole Lead Arranger and Sole Book Manager, The Bank of Tokyo-Mitsubishi,
Ltd. and ABN AMRO Bank N.V., as Co-Syndication Agents, and Bank One, NA and Wells Fargo Bank, N.A. (formerly known as Wells Fargo
Bank, National Association), as Co-Documentation Agents; and 

        WHEREAS, the Borrower
has advised the Administrative Agent and the Lenders that it desires to amend certain provisions of the Credit Agreement 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: 

        Section 1.       Amendment to Credit Agreement.  

        (a)                 Subject
to the terms and conditions set forth herein, Section 1.01 of the Credit Agreement is hereby amended by adding the
following definition in alphabetical order: 

	  	       “Excess Margin
Stock” means, as of the date any Loan is made hereunder, that amount by which the current market value (as determined
pursuant to Regulation U of the FRB) of all Margin Stock owned by the Borrower and its Subsidiaries exceeds 25% of the value (as
determined pursuant to Regulation U of the FRB) of all of the assets owned by the Borrower and its Subsidiaries subject to
Sections 7.01 and 7.02 of this Agreement.” 

        (b)                 Subject
to the terms and conditions set forth herein, Section 7.01 of the Credit Agreement is hereby amended by adding the
following subpart to the end of such Section: 

	  	        “(o)                 Liens
on Excess Margin Stock.” 

        (c)                 Subject
to the terms and conditions set forth herein, Section 7.02 of the Credit Agreement is hereby amended by adding the
following subpart to the end of such Section: 

	  	        “(e)                 dispositions
of Excess Margin Stock.” 

        Section 2.       Effectiveness;
Conditions Precedent.   The effectiveness of this Amendment and the amendments to the Credit Agreement herein
provided are subject to the satisfaction of the conditions precedent: 

	  	        (a)                            The Administrative Agent
shall have received original counterparts of this Amendment, duly executed by the Borrower, the Required Lenders and the
Administrative Agent; and 

	  	        (b)                            All fees and expenses
payable to the Administrative Agent and the Lenders (including the fees and expenses of counsel to the Administrative Agent)
accrued to date shall have been paid in full. 

  

        Section 3.       Representations
and Warranties.   In order to induce the Administrative Agent and the Lenders to enter into this Amendment, the
Borrower represents and warrants to the Administrative Agent and the Lenders as follows: 

	  	        (a)       The
representations and warranties made by the Borrower in Article V of the Credit Agreement 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; and 

	  	        (b)       This
Amendment has been duly authorized, executed and delivered by the Borrower and constitutes a legal, valid and binding obligation
of the Borrower, except as may be limited by general principles of equity or by the effect of any applicable bankruptcy,
insolvency, reorganization, moratorium or similar law affecting creditors’ rights generally. 

        Section 4.       Entire
Agreement.   This Amendment, together with the Credit Agreement (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 relating to such subject matter. No promise,
condition, representation or warranty, express or implied, not set forth in the Relevant Documents shall bind any party hereto,
and no such party 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. 

        Section 5.       Full
Force and Effect of Credit Agreement.   Except as hereby specifically amended, modified or supplemented, the
Credit Agreement is hereby confirmed and ratified in all respects and shall be and remain in full force and effect according to
their respective terms. 

        Section 6.       Counterparts.   This
Amendment 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. Delivery of an executed
counterpart of a signature page to this Amendment by facsimile transmission shall be effective as delivery of an original
counterpart of this Amendment. 

        Section 7.       Governing
Law.   THIS AMENDMENT SHALL IN ALL RESPECTS BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE
STATE OF NEW YORK APPLICABLE TO CONTRACTS EXECUTED AND TO BE PERFORMED ENTIRELY WITHIN SUCH STATE. 

        Section 8.       Enforceability.   Should
any one or more of the provisions of this Amendment 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. 

        Section 9.       References.   All
references in any of the Loan Documents to the “Credit Agreement” or in the Credit Agreement to “this
Agreement” shall mean the Credit Agreement as amended hereby. 

        Section 10.       Successors
and Assigns.   This Amendment shall be binding upon and inure to the benefit of the Borrower, the Lenders and
the Administrative Agent, and their respective successors, legal representatives, and assignees to the extent such assignees are
permitted assignees as provided in the Credit Agreement. 

[The remainder of this page is intentionally left blank.] 

2 

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

	 	ST. JUDE MEDICAL, INC., as Borrower  
	 
	    	By:    	/s/   ROBERT G. FRENZ 

	 	 	Name:   Robert G. Frenz

Title:     Assistant Treasurer 
	 

$350M REVOLVER – AMENDMENT NO. 2
SIGNATURE PAGE 

	 	BANK OF AMERICA, N.A., as Administrative Agent  
	 
	    	By:    	/s/   ANGELA LAU 

	 	 	Name:   Angela Lau

Title:     Assistant Vice President 
	 

$350M REVOLVER – AMENDMENT NO. 2
SIGNATURE PAGE 

	 	BANK OF AMERICA, N.A., as a Lender  
	 
	    	By:    	/s/   RICHARD C. HARDISON 

	 	 	Name:   Richard C. Hardison

Title:     Vice President 
	 

$350M REVOLVER – AMENDMENT NO. 2
SIGNATURE PAGE 

	 	WELLS FARGO BANK, N.A., as a Lender  
	 
	    	By:    	/s/   PATRICK MCCUE 

	 	 	Name:   Patrick McCue

Title:     Vice President 
	 
	    	By:    	/s/   JENNIFER BARRETT 

	 	 	Name:   Jennifer Barrett

Title:     Vice President & Loan Team Manager 
	 

$350M REVOLVER – AMENDMENT NO. 2
SIGNATURE PAGE 

	 	KEYBANK NATIONAL ASSOCIATION, as a Lender  
	 
	    	By:    	/s/   CHRISTOPHER A. SWINDELL 

	 	 	Name:   Christopher A. Swindell

Title:     Portfolio Manager 
	 

$350M REVOLVER – AMENDMENT NO. 2
SIGNATURE PAGE 

	 	BANCA DI ROMA – CHICAGO BRANCH, as a Lender  
	 
	    	By:    	/s/   JOYCE MONTGOMERY 

	 	 	Name:   Joyce Montgomery

Title:     Vice President 
	 
	    	By:    	/s/   ENRICO VERDOSCIA 

	 	 	Name:   Enrico Verdoscia

Title:     Senior Vice President 
	 

$350M REVOLVER – AMENDMENT NO. 2
SIGNATURE PAGE 

	 	THE BANK OF TOKYO-MITSUBISHI, LTD.,
CHICAGO BRANCH, as a Lender  
	 
	    	By:    	/s/   TSUGUYUKI UMENE 

	 	 	Name:   Tsuguyuki Umene

Title:     Deputy General Manager 
	 

$350M REVOLVER – AMENDMENT NO. 2
SIGNATURE PAGE 

	 	BNP PARIBAS, as a Lender  
	 
	    	By:    	/s/   CURT PRICE 

	 	 	Name:   Curt Price

Title:     Managing Director 
	 
	    	By:    	/s/   JO ELLEN BENDER 

	 	 	Name:   Jo Ellen Bender

Title:     Managing Director 
	 

$350M REVOLVER – AMENDMENT NO. 2
SIGNATURE PAGE 

	 	SUNTRUST BANK, as a Lender  
	 
	    	By:    	/s/   W. BROOKS HUBBARD 

	 	 	Name:   W. Brooks Hubbard

Title:     Director 
	 

$350M REVOLVER – AMENDMENT NO. 2
SIGNATURE PAGE 

	 	U.S. BANK NATIONAL ASSOCIATION, as a Lender  
	 
	    	By:    	/s/   JEFFREY S. JOHNSON 

	 	 	Name:   Jeffrey S. Johnson

Title:     Assistant Vice President 
	 

$350M REVOLVER – AMENDMENT NO. 2
SIGNATURE PAGE 

	 	FIFTH THIRD BANK, as a Lender  
	 
	    	By:    	/s/   ANN-DREA BURNS 

	 	 	Name:   Ann-Drea Burns

Title:     Assistant Vice President 
	 

$350M REVOLVER – AMENDMENT NO. 2
SIGNATURE PAGEExhibit 10.29 to St. Jude Medical, Inc. Form 10-K for fiscal year ended 12-31-2005

Exhibit 10.29 

AMENDMENT NO. 1 TO

MULTI-YEAR CREDIT AGREEMENT 

        This Amendment No. 1 to
Credit Agreement (this “Amendment”) dated as of November 7, 2005 is made by and between ST. JUDE MEDICAL, INC., a
Minnesota corporation (the “Borrower”), each lender party hereto (collectively, the “Lenders”
and individually, a “Lender”), and BANK OF AMERICA, N.A., as Administrative Agent, a Lender and L/C Issuer (in
such capacity, the “Administrative Agent”). Capitalized terms used herein and not defined herein shall have the
meanings assigned to such terms in the Credit Agreement (as defined below). 

W I T N E S S E T H: 

        WHEREAS, the Borrower,
the Lenders and the Administrative Agent entered into that certain Multi-Year Credit Agreement dated as of September 28, 2004 (as
hereby amended, and as from time to time hereafter further amended, restated, supplemented or otherwise modified, the
“Credit Agreement”) by and among the Borrower, the Lenders, the Administrative Agent, Banc of America Securities
LLC, as Sole Lead Arranger and Sole Book Manager, The Bank of Tokyo-Mitsubishi, Ltd., as Syndication Agent, and Bank One, NA,
Wells Fargo Bank, N.A. (formerly known as Wells Fargo Bank, National Association) and SunTrust Bank, as Co-Documentation Agents;
and 

        WHEREAS, the Borrower
has advised the Administrative Agent and the Lenders that it desires to amend certain provisions of the Credit Agreement 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: 

        Section 1.       Amendment to Credit Agreement.  

        (a)                 Subject
to the terms and conditions set forth herein, Section 1.01 of the Credit Agreement is hereby amended by adding the
following definition in alphabetical order: 

	  	       “Excess Margin
Stock” means, as of the date any Loan is made hereunder, that amount by which the current market value (as determined
pursuant to Regulation U of the FRB) of all Margin Stock owned by the Borrower and its Subsidiaries exceeds 25% of the value (as
determined pursuant to Regulation U of the FRB) of all of the assets owned by the Borrower and its Subsidiaries subject to
Sections 7.01 and 7.02 of this Agreement.” 

        (b)                 Subject
to the terms and conditions set forth herein, Section 7.01 of the Credit Agreement is hereby amended by adding the
following subpart to the end of such Section: 

	  	        “(o)                 Liens
on Excess Margin Stock.” 

        (c)                 Subject
to the terms and conditions set forth herein, Section 7.02 of the Credit Agreement is hereby amended by adding the
following subpart to the end of such Section: 

	  	        “(e)                 dispositions
of Excess Margin Stock.” 

        Section 2.       Effectiveness;
Conditions Precedent.   The effectiveness of this Amendment and the amendments to the Credit Agreement herein
provided are subject to the satisfaction of the conditions precedent: 

	  	        (a)       The
Administrative Agent shall have received original counterparts of this Amendment, duly executed by the Borrower, the Required
Lenders and the Administrative Agent; and 

	  	        (b)       All
fees and expenses payable to the Administrative Agent and the Lenders (including the fees and expenses of counsel to the
Administrative Agent) accrued to date shall have been paid in full. 

        Section 3.       Representations
and Warranties.   In order to induce the Administrative Agent and the Lenders to enter into this Amendment, the
Borrower represents and warrants to the Administrative Agent and the Lenders as follows:  

	  	        (a)       The
representations and warranties made by the Borrower in Article V of the Credit Agreement 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; and 

	  	        (b)       This
Amendment has been duly authorized, executed and delivered by the Borrower and constitutes a legal, valid and binding obligation
of the Borrower, except as may be limited by general principles of equity or by the effect of any applicable bankruptcy,
insolvency, reorganization, moratorium or similar law affecting creditors’ rights generally. 

        Section 4.       Entire
Agreement.   This Amendment, together with the Credit Agreement (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 relating to such subject matter. No promise,
condition, representation or warranty, express or implied, not set forth in the Relevant Documents shall bind any party hereto,
and no such party 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. 

        Section 5.       Full
Force and Effect of Credit Agreement.   Except as hereby specifically amended, modified or supplemented, the
Credit Agreement is hereby confirmed and ratified in all respects and shall be and remain in full force and effect according to
their respective terms. 

        Section 6.       Counterparts.   This
Amendment 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. Delivery of an executed
counterpart of a signature page to this Amendment by facsimile transmission shall be effective as delivery of an original
counterpart of this Amendment. 

        Section 7.       Governing
Law.   THIS AMENDMENT SHALL IN ALL RESPECTS BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE
STATE OF NEW YORK APPLICABLE TO CONTRACTS EXECUTED AND TO BE PERFORMED ENTIRELY WITHIN SUCH STATE. 

        Section 8.       Enforceability.   Should
any one or more of the provisions of this Amendment 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. 

        Section 9.       References.   All
references in any of the Loan Documents to the “Credit Agreement” or in the Credit Agreement to “this
Agreement” shall mean the Credit Agreement as amended hereby. 

        Section 10.       Successors
and Assigns.   This Amendment shall be binding upon and inure to the benefit of the Borrower, the Lenders and
the Administrative Agent, and their respective successors, legal representatives, and assignees to the extent such assignees are
permitted assignees as provided in the Credit Agreement. 

[The remainder of this page is intentionally left blank.] 

2 

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

	 	ST. JUDE MEDICAL, INC., as Borrower  
	 
	    	By:    	/s/   ROBERT G. FRENZ 

	 	 	Name:   Robert G. Frenz

Title:     Assistant Treasurer 
	 

$400M REVOLVER – AMENDMENT NO. 1
SIGNATURE PAGE 

	 	BANK OF AMERICA, N.A., as Administrative Agent  
	 
	    	By:    	/s/   ANGELA LAU 

	 	 	Name:   Angela Lau

Title:     Assistant Vice President 
	 

$400M REVOLVER – AMENDMENT NO. 1
SIGNATURE PAGE 

	 	BANK OF AMERICA, N.A., as Lender  
	 
	    	By:    	/s/   RICHARD C. HARDISON 

	 	 	Name:   Richard C. Hardison

Title:     Vice President 
	 

$400M REVOLVER – AMENDMENT NO. 1
SIGNATURE PAGE 

	 	WELLS FARGO BANK, N.A., as a Lender  
	 
	    	By:    	/s/   PATRICK MCCUE 

	 	 	Name:   Patrick McCue

Title:     Vice President 
	 
	    	By:    	/s/   JENNIFER BARRETT 

	 	 	Name:   Jennifer Barrett

Title:     Vice President and Loan Team Manager 
	 

$400M REVOLVER – AMENDMENT NO. 1
SIGNATURE PAGE 

	 	KEYBANK NATIONAL ASSOCIATION, as a Lender  
	 
	    	By:    	/s/   CHRISTOPHER A. SWINDELL 

	 	 	Name:   Christopher A. Swindell

Title:     Portfolio Manager 
	 

$400M REVOLVER – AMENDMENT NO. 1
SIGNATURE PAGE 

	 	THE BANK OF NEW YORK, as a Lender  
	 
	    	By:    	/s/   JONATHAN ROLLINS 

	 	 	Name:   Jonathan Rollins

Title:     Vice President 
	 

$400M REVOLVER – AMENDMENT NO. 1
SIGNATURE PAGE 

	 	THE BANK OF TOKYO-MITSUBISHI, LTD.,
CHICAGO BRANCH, as a Lender  
	 
	    	By:    	/s/   TSUGUYUKI UMENE 

	 	 	Name:   Tsuguyuki Umene

Title:     Deputy General Manager 
	 

$400M REVOLVER – AMENDMENT NO. 1
SIGNATURE PAGE 

	 	JPMORGAN CHASE BANK, N.A. (as successor by
merger with BANK ONE, N.A.), as a Lender  
	 
	    	By:    	/s/   CHRISTOPHER C. CAVAIANI 

	 	 	Name:   Christopher C. Cavaiani

Title:     Vice President 
	 

$400M REVOLVER – AMENDMENT NO. 1
SIGNATURE PAGE 

	 	BNP PARIBAS, as a Lender  
	 
	    	By:    	/s/   CURT PRICE 

	 	 	Name:   Curt Price

Title:     Managing Director 
	 
	    	By:    	/s/   JO ELLEN BENDER 

	 	 	Name:   Jo Ellen Bender

Title:     Managing Director 
	 

$400M REVOLVER – AMENDMENT NO. 1
SIGNATURE PAGE 

	 	SUNTRUST BANK, as a Lender  
	 
	    	By:    	/s/   W. BROOKS HUBBARD 

	 	 	Name:   W. Brooks Hubbard

Title:     Director 
	 

$400M REVOLVER – AMENDMENT NO. 1
SIGNATURE PAGE 

	 	U.S. BANK NATIONAL ASSOCIATION, as a Lender  
	 
	    	By:    	/s/   JEFFREY S. JOHNSON 

	 	 	Name:   Jeffrey S. Johnson

Title:     Assistant Vice President 
	 

$400M REVOLVER – AMENDMENT NO. 1
SIGNATURE PAGE 

	 	THE NORTHERN TRUST COMPANY, as a Lender  
	 
	    	By:    	/s/   JOHN C. CANTY 

	 	 	Name:   John C. Canty

Title:     Vice President 
	 

$400M REVOLVER – AMENDMENT NO. 1
SIGNATURE PAGE

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