Document:

<PAGE>

                                                                    Exhibit 10.1

                       AMENDMENT NO. 1 TO CREDIT AGREEMENT

         This Amendment No. 1 to Credit Agreement (this "Agreement") dated as of
September 12, 2002 is made by and among BLOCK COMMUNICATIONS, INC., an Ohio
corporation ("Block" or the "Borrower"), BANK OF AMERICA, N.A., in its capacity
as administrative agent (in such capacity, the "Administrative 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.

                                   WITNESSETH:

         WHEREAS, the Borrower, the Administrative Agent and each of the Lenders
have entered into that certain Credit Agreement dated as of May 15, 2002 (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 two term
loan facilities; and

         WHEREAS, each of the Guarantors has entered into a 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 Administrative Agent and the
Lenders that it desires to amend certain provisions of the Credit Agreement,
including without limitation Section 7.03 thereof, and the Administrative 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 1.01 is hereby amended by adding the following
         definition in its proper alphabetical order:

                           "Refinancing Loss" means that certain loss incurred
                  in the fiscal quarter of the Borrower ended June 30, 2002 in
                  the amount of $6,288,500 as a result of the payment of
                  premiums to the holders of the Private Notes in connection
                  with the repayment and extinguishment of the Private Notes.

                  (b) Subpart (c) of the definition of "Consolidated EBITDA" in
         Section 1.01 is hereby amended by (A) deleting the "and" immediately
         prior to subpart (v) thereof, and (B) adding ", and (vi) the
         Refinancing Loss to the extent deducted in arriving at Consolidated Net
         Income" immediately following subpart (v) thereof and prior to the
         ending period.

                  (c) Section 7.01(k) is hereby deleted in its entirety and
         replaced with the following:

                           (k) Liens securing advances against the cash
                  surrender value of the Life Insurance Policies to the extent
                  such advances are permitted pursuant to Section 7.20; provided
                  that each such Lien may only encumber the cash value of the
                  specific Life Insurance Policy with respect to which the
                  advance giving rise to such Lien is made, and may encumber no
                  more of such cash value than the amount of such advance;

                  (d) Section 7.03(g) is hereby deleted in its entirety, and
         current Section 7.03(h) is re-numbered as Section 7.03(g).

<PAGE>

                  (e) The content of Schedule 7.03 to the Credit Agreement is
         hereby deleted in its entirety and replaced with the following:

                           None.

                  (f) The following new Section 7.20 is hereby added to the
         Credit Agreement:

                           7.20 LIMITS ON ADVANCES AGAINST LIFE INSURANCE
                  POLICIES. Create, incur, receive, assume or suffer to exist
                  any advance against the cash surrender value of any of the
                  Life Insurance Policies, or otherwise against any value of any
                  of the Life Insurance Policies, other than advances against
                  the cash surrender value of the Life Insurance Policies not to
                  exceed the lesser of (i) $10,000,000 in the aggregate at any
                  time outstanding and (ii) the aggregate sum of the cash
                  surrender value of each of the Life Insurance Policies at any
                  time existing; provided that any advance against the cash
                  surrender value of any certain Life Insurance Policy does not
                  exceed such cash surrender value of such Life Insurance
                  Policy.

         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 Administrative Agent shall have received each of the
         following documents or instruments in form and substance reasonably
         acceptable to the Administrative Agent:

                           (i) thirteen (13) original counterparts of this
                  Agreement, duly executed by the Borrower, the Administrative
                  Agent, each Guarantor and the Required Lenders, together with
                  all schedules and exhibits hereto duly completed; and

                           (ii) such other documents, instruments, opinions,
                  certifications, undertakings, further assurances and other
                  matters as the Administrative Agent shall reasonably require;

                  (b) evidence that the outstanding amount of advances against
         the Life Insurance Policies has been, or simultaneously herewith is
         being, repaid such that the Borrower is in compliance with the new
         (Section 7.20 of the Credit Agreement as of the date hereof; and

                  (c) 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.

         3. 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 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 Guaranty to
which such Guarantor is a party and the enforceability of such Guaranty against
such Guarantor in accordance with its terms.

         4. Representations and Warranties. In order to induce the
Administrative Agent and the Lenders to enter into this Agreement, the Borrower
and the Guarantors, as applicable, represent and warrant 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 (after giving effect 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) There has been no material adverse change in the
         condition, financial or otherwise, of the Borrower and its
         Subsidiaries, taken as a whole, since the Closing Date; and

<PAGE>

                  (c) No Default or Event of Default has occurred and is
         continuing.

         5. 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 10.01 of the Credit Agreement.

         6. 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.

         7. 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.

         8. Governing Law. This Agreement shall in all respects be governed by,
and construed in accordance with, the laws of the state of New York.

         9. 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.

         10. References. All references in any of the Loan Documents to the
"Credit Agreement" shall mean the Credit Agreement, as amended hereby.

         11. Successors and Assigns. This Agreement shall be binding upon the
inure to the benefit of the Borrower, the Administrative 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.

         12. Expenses. The Borrower agrees to pay to the Administrative Agent
all reasonable out-of-pocket expenses incurred or arising in connection with the
negotiation and preparation of this Agreement.

                            (Signature pages follow.)

<PAGE>

         IN WHITNESS 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:

                             BLOCK COMMUNICATIONS, INC.

                                     /s/ Jodi L. Miehls
                             Name:   Jodi L. Miehls
                             Title:  Treasurer

                             GUARANTORS:

                             BUCKEYE CABLEVISION, INC.

                                     /s/ Jodi L. Miehls
                             Name:   Jodi L. Miehls
                             Title:  Assistant Secretary

                             ERIE COUNTY CABLEVISION, INC.

                                     /s/ Jodi L. Miehls
                             Name:   Jodi L. Miehls
                             Title:  Assistant Secretary

                             BUCKEYE TELESYSTEMS, INC.

                                     /s/ Jodi L. Miehls
                             Name:   Jodi L. Miehls
                             Title:  Assistant Secretary

                             CORPORATE PROTECTION SERVICES, INC.

                                     /s/ Jodi L. Miehls
                             Name:   Jodi L. Miehls
                             Title:  Assistant Secretary

                             COMMUNITY COMMUNICATION SERVICES, INC.

                                     /s/ Jodi L. Miehls
                             Name:   Jodi L. Miehls
                             Title:  Assistant Secretary

                             PG PUBLISHING COMPANY

                                     /s/ Jodi L. Miehls
                             Name:   Jodi L. Miehls
                             Title:  Assistant Secretary

                             MONROE CABLEVISION, INC.

                                     /s/ Jodi L. Miehls
                             Name:   Jodi L. Miehls
                             Title:  Assistant Secretary

<PAGE>

                             LIMA COMMUNICATIONS CORPORATION

                                     /s/ Jodi L. Miehls
                             Name:   Jodi L. Miehls
                             Title:  Assistant Secretary

                             WLFI-TV, INC.

                                     /s/ Jodi L. Miehls
                             Name:   Jodi L. Miehls
                             Title:  Assistant Secretary

                             INDEPENDENCE TELEVISION COMPANY

                                     /s/ Jodi L. Miehls
                             Name:   Jodi L. Miehls
                             Title:  Assistant Secretary

                             TOLEDO AREA TELECOMMUNICATIONS SERVICES, INC.

                                     /s/ Jodi L. Miehls
                             Name:   Jodi L. Miehls
                             Title:  Assistant Secretary

                             METRO FIBER & CABLE CONSTRUCTION COMPANY

                                     /s/ Jodi L. Miehls
                             Name:   Jodi L. Miehls
                             Title:  Assistant Secretary

                             IDAHO INDEPENDENT TELEVISION, INC.

                                     /s/ Jodi L. Miehls
                             Name:   Jodi L. Miehls
                             Title:  Assistant Secretary

                             CARS HOLDING, INC.

                                     /s/ William Block, Jr.
                             Name:   William Block, Jr.
                             Title:  Secretary

                             ACCESS TOLEDO, LTD.
                             By:  BLOCK COMMUNICATIONS, INC.

                                     /s/ Fritz Byers
                             Name:   Fritz Byers
                             Title:  Secretary

                             ADMINISTRATIVE AGENT:

                             BANK OF AMERICA, N.A., as Administrative Agent

                                     /s/ Derrick C. Bell
                             Name:   Derrick C. Bell
                             Title:  Principal

<PAGE>

                             LENDERS:

                             BANK OF AMERICA, N.A.

                                     /s/ Derrick C. Bell
                             Name:   Derrick C. Bell
                             Title:  Principal

                             NATIONAL CITY BANK

                                     /s/ Christian Kalmbach
                             Name:   Christian Kalmbach
                             Title:  Senior Vice President

                             SENIOR DEBT PORTFOLIO

                             By:     Boston Management and Research,
                                     as Investment Advisor

                             By:     ________________________________
                             Name:   ________________________________
                             Title:  ________________________________

                             TRAVELERS CORPORATE LOAN FUND

                             By:     Traveler's Asset Management International
                                     Company LLC

                                     /s/ William M. Gardner
                             Name:   William M. Gardner
                             Title:  Investment Officer

                             THE TRAVELERS INSURANCE COMPANY

                                     /s/ William M. Gardner
                             Name:   William M. Gardner
                             Title:  Investment Officer

                             FLEET NATIONAL BANK

                                     /s/ Patrick Bonebrake
                             Name:   Patrick Bonebrake
                             Title:  Director

                             BANK OF MONTREAL

                                     /s/ Karen Klapper
                             Name:   Karen Klapper
                             Title:  Director

                             COMMERICA BANK

                                     /s/ Richard Hampson
                             Name:   Richard Hampson
                             Title:  Vice President

<PAGE>

                             THE BANK OF NEW YORK

                                     /s/ Reena A. Bhasin
                             Name:   Reena A. Bhasin
                             Title:  Assistant Vice President

                             FIFTH THIRD BANK

                                     /s/ Michael R. Miller
                             Name:   Michael R. Miller
                             Title:  Executive Vice President

                             STANDARD FEDERAL BANK N.A.

                                     /s/ Jason W. Bierlein
                             Name:   Jason W. Bierlein
                             Title:  Assistant Vice President

                             GENERAL ELECTRIC CAPITAL CORPORATION

                                     /s/ Brian Ward
                             Name:   Brian Ward
                             Title:  Manager, Operations

                             ATRIUM CDO

                             By:     ________________________________
                             Name:   ________________________________
                             Title:  ________________________________

                             BIG SKY SENIOR LOAN FUND, LTD.

                             By:     Eaton Vance Management,
                                     as Investment Advisor

                             By:     ________________________________
                             Name:   ________________________________
                             Title:  ________________________________

                             BRYN MAWR CLO, LTD.

                             By:     Deerfield Capital Management LLC,
                                     as its Collateral Manager

                             By:     ________________________________
                             Name:   ________________________________
                             Title:  ________________________________

                             CONSTANTINUS EATON VANCE CDO V, LTD.

                             By:     Eaton Vance Management,
                                     as Investment Advisor

                             By:     ________________________________
                             Name:   ________________________________
                             Title:  ________________________________

<PAGE>

                             EATON VANCE CDO III, LTD.

                             By:     Eaton Vance Management,
                                     as Investment Advisor

                             By:     ________________________________
                             Name:   ________________________________
                             Title:  ________________________________

                             EATON VANCE CDO IV, LTD.

                             By:     Eaton Vance Management,
                                     as Investment Advisor

                             By:     ________________________________
                             Name:   ________________________________
                             Title:  ________________________________

                             EATON VANCE INSTITUTIONAL SENIOR LOAN FUND

                             By:     Eaton Vance Management,
                                     as Investment Advisor

                             By:     ________________________________
                             Name:   ________________________________
                             Title:  ________________________________

                             EATON VANCE SENIOR INCOME TRUST

                             By:     Eaton Vance Management,
                                     as Investment Advisor

                             By:     ________________________________
                             Name:   ________________________________
                             Title:  ________________________________

                             GALLATIN FUNDING I LTD.

                             By:     Bear Stearns Asset Management, Inc.,
                                     as its Collateral Manager

                             By:     ________________________________
                             Name:   ________________________________
                             Title:  ________________________________

                             GRAYSON & CO.

                             By:     Boston Management and Research,
                                     as Investment Advisor

                             By:     ________________________________
                             Name:   ________________________________
                             Title:  ________________________________

<PAGE>

                             ING PRIME RATE TRUST

                             By:     ING Investments, LLC.,
                                     as Investment Advisor

                             By:     ________________________________
                             Name:   ________________________________
                             Title:  ________________________________

                             LANDMARK II CDO LIMITED

                             By:     Aladdin Asset Management LLC,
                                     as Manager

                             By:     /s/ Gilles Marchand
                             Name:   Gilles Marchand
                             Title:  Authorized Signatory

                             OCTAGON INVESTMENT PARTNERS III, LTD.

                             By:     Octagon Credit Investors, LLC,
                                     as Portfolio Manager

                             By:     ________________________________
                             Name:   ________________________________
                             Title:  ________________________________

                             OLYMPIC FUNDING TRUST, SERIES 1999-1

                             By:     ________________________________
                             Name:   ________________________________
                             Title:  ________________________________

                             OXFORD STRATEGIC INCOME FUND

                             By:     Eaton Vance Management,
                                     as Investment Advisor

                             By:     ________________________________
                             Name:   ________________________________
                             Title:  ________________________________

                             ROSEMONT CLO, LTD.

                             By:     Deerfield Capital Management LLC,
                                     as its Collateral Manager

                             By:     ________________________________
                             Name:   ________________________________
                             Title:  ________________________________<PAGE>
                                                                    EXHIBIT 10.1

                          AMENDMENT TO CREDIT AGREEMENT

         This _____ AMENDMENT TO CREDIT AGREEMENT (the "Amendment") dated as of
September 27, 2002, is made and entered into by and between BAKER HUGHES
INCORPORATED, a Delaware corporation (the "Company"), and the undersigned bank
(the "Bank").

                                   WITNESSETH

         WHEREAS, the Company and the Bank have entered into that certain Credit
Agreement dated as of September 27, 2001 with an initial term of 364 days (the
"Credit Agreement"); and

         WHEREAS, the Company and the Bank desire to extend and amend the Credit
Agreement as hereinafter set forth.

         NOW, THEREFORE, in consideration of the premises and the mutual
agreements herein contained, the Company and the Bank agree as follows:

         1.       AMENDMENTS TO CREDIT AGREEMENT.

                  1.1      The definition of "Facility Fee Rate" in Section 1.01
         (Definitions) of the Credit Agreement is amended and restated in its
         entirety as follows:

                           ""Facility Fee Rate" means the rate per annum that
                  shall be used to calculate the Facility Fee and is equal to

                                    (a) 8.5/100 of 1% if the Company has a
                           senior unsecured credit rating by Standard and Poors
                           equal to or better than A or a senior unsecured
                           credit rating by Moody's Investor Services of equal
                           to or better than A2;

                                    (b) 10.0/100 of 1% if the Company has a
                           senior unsecured credit rating by Standard and Poors
                           between A and A-, inclusive or a senior unsecured
                           credit rating by Moody's Investor Services between A2
                           and A3, inclusive;

                                    (c) 12.5/100 of 1% if the Company has a
                           senior unsecured credit rating by Standard and Poors
                           between A- and BBB+, inclusive or a senior unsecured
                           credit rating by Moody's Investor Services between A3
                           and Baa1, inclusive;

                                    (d) 15.0/100 of 1% if the Company has a
                           senior unsecured credit rating by Standard and Poors
                           between BBB+ and BBB, inclusive or a senior unsecured
                           credit rating by Moody's Investor Services between
                           Baa1 and Baa2, inclusive;

                                        1
<PAGE>
                                    (e) 20.0/100 of 1% if the Company has a
                           senior unsecured credit rating by Standard and Poors
                           between BBB and BBB-, inclusive or a senior unsecured
                           credit rating by Moody's Investor Services between
                           Baa2 and Baa3, inclusive; or

                                    (f) 25.0/100 of 1% if the Company has a
                           senior unsecured credit rating by Standard and Poors
                           equal to or less than BB+, or a senior unsecured
                           credit rating by Moody's Investor Services of less
                           than or equal to Ba1;

                  provided, that, in each case, the higher (better) senior
                  unsecured credit rating (Standard and Poors or Moody's
                  Investor Services) shall always be applied to determine the
                  Facility Fee Rate, and if Standard and Poors (or Moody's
                  Investor Services) changes its rating designations, then the
                  new equivalent Standard and Poors (or Moody's Investor
                  Services) credit ratings shall be applied."

                  1.2      The definition of "LIBOR Margin" in Section 1.01
         (Definitions) of the Credit Agreement is amended and restated in its
         entirety as follows:

                           "LIBOR Margin" means the rate per annum which shall
                  added to determine the Eurodollar Rate and is equal to

                                    (a) .24% if the Company has a senior
                           unsecured credit rating by Standard and Poors equal
                           to or better than A or a senior unsecured credit
                           rating by Moody's Investor Services of equal to or
                           better than A2;

                                    (b) .40% if the Company has a senior
                           unsecured credit rating by Standard and Poors between
                           A and A-, inclusive or a senior unsecured credit
                           rating by Moody's Investor Services between A2 and
                           A3, inclusive;

                                    (c) .50% if the Company has a senior
                           unsecured credit rating by Standard and Poors between
                           A- and BBB+, inclusive or a senior unsecured credit
                           rating by Moody's Investor Services between A3 and
                           Baa1, inclusive;

                                    (d) .725% if the Company has a senior
                           unsecured credit rating by Standard and Poors between
                           BBB+ and BBB, inclusive or a senior unsecured credit
                           rating by Moody's Investor Services between Baa1 and
                           Baa2, inclusive;

                                    (e) .925% if the Company has a senior
                           unsecured credit rating by Standard and Poors between
                           BBB and BBB-, inclusive or a senior unsecured credit
                           rating by Moody's Investor Services between Baa2 and
                           Baa3, inclusive; or

                                        2
<PAGE>
                                    (f) 1.125% if the Company has a senior
                           unsecured credit rating by Standard and Poors equal
                           to or less than BB+, or a senior unsecured credit
                           rating by Moody's Investor Services of less than or
                           equal to Ba1;

                  provided, that, in each case, the higher (better) senior
                  unsecured credit rating (Standard and Poors or Moody's
                  Investor Services) shall always be applied to determine the
                  LIBOR Margin, and if Standard and Poors (or Moody's Investor
                  Services) changes its rating designations, then the new
                  equivalent Standard and Poors ( or Moody's Investor Services)
                  credit ratings shall be applied; provided further, that, in
                  the event the aggregate Eurodollar Advances and Reference Rate
                  Advances outstanding exceed thirty-three and one-third percent
                  (33 1/3%) of the Commitment Limit, then the Eurodollar Rates
                  in (a), (b), (c), (d), (e) and (f) above shall be increased
                  to 32%, .48%, .58%, .805%, 1.005% and 1.205%, respectively,
                  for all Eurodollar Advances outstanding during the period in
                  which the aggregate Eurodollar Advances and Reference Rate
                  Advances outstanding exceed thirty-three and one-third
                  percent (33 1/3%) of the Commitment Limit.

                  1.3      The definition of "Termination Date" in Section 1.01
         (Definitions) of the Credit Agreement is amended and restated in its
         entirety as follows:

                           ""Termination Date" means the earliest to occur of
                  (a) September 25, 2003, as such date may be extended pursuant
                  to Section 3.01(h) or 3.01(i), (b) the date on which the
                  Bank's Commitment or Commitment Limit is reduced to zero
                  pursuant to Section 2.03 or 3.01(i)(iv) and (c) the date on
                  which the Bank's Commitment or Commitment Limit is terminated
                  pursuant to Section 2.02 or 7.08."

                  1.4      Section 2.04(b) (Facility and Up-Front Fees) of the
         Credit Agreement is amended and restated in its entirety to read as
         follows:

                           "(b) Up-Front Fees. The Company agrees to pay the
                  Bank an initial up-front fee, in Dollars, equal to .03% of the
                  Commitment Limit, payable within 15 days of the Effective Date
                  of this Agreement. If the Bank consents to an Extension
                  Request by the Company pursuant to Section 3.01(h), then the
                  Company agrees to pay the Bank an additional one-time fee, in
                  Dollars, at a mutually agreed rate."

                  The mutually agreed rate for this Amendment is .06% of the
         Commitment Limit and is payable within 15 days of the full execution of
         this Amendment.

                  1.5      Section  4.08  (Margin Securities)  of the Credit
         Agreement is amended and restated in its entirety to read as follows:

                           "4.08 Margin Securities. The Company is not incurring
                  the indebtedness evidenced by the Note hereunder for the
                  purpose, directly or indirectly, of purchasing or carrying any
                  "margin stock" as that term is defined in Regulations U and X
                  of the Board of Governors of the Federal Reserve System, as
                  amended

                                       3
<PAGE>
                  from time to time, except the Company may purchase its
                  common stock, if after giving effect to such purchases, such
                  indebtedness would not violate any Governmental Requirement
                  (including, without limitation, such Regulations U and X).
                  Neither the Company nor any of its Subsidiaries is engaged
                  principally, or as one of its important activities, in the
                  business of extending credit for the purpose of purchasing or
                  carrying margin stock."

         2.       AMENDMENTS TO CREDIT AGREEMENT. This Amendment shall be
deemed to be an amendment to the Credit Agreement, and the Credit Agreement, as
amended hereby, is ratified hereby, approved and confirmed in each and every
respect. All references to the Credit Agreement in the Credit Agreement shall
hereafter be deemed to refer to the Credit Agreement, as amended hereby.

         3.       DEFINED TERMS. Terms used but not defined herein when
defined in the Credit Agreement shall have the same meanings herein unless the
context otherwise requires.

         4.       APPLICABLE LAW. This Amendment shall be governed by and
construed in accordance with the laws of the State of Texas, United States of
America.

         5.       COUNTERPARTS. This Amendment may be separately executed
(including execution by delivery of a facsimile or telecopied signature) in any
number of counterparts and by different parties hereto in separate counterparts,
each of which when so executed shall be deemed to constitute one and the same
Amendment.

         6.       SEVERABILITY. If any term or provision of this Amendment
shall be determined to be illegal or unenforceable, all other terms and
provisions of this document shall nevertheless remain effective and shall be
enforced to the fullest extent permitted by applicable law.

         7.       HEADINGS. Section headings used in this Amendment are for
reference only and shall not affect the construction of this Amendment.

         8.       FINAL AGREEMENT. THIS AMENDMENT, TOGETHER WITH THE CREDIT
AGREEMENT, REPRESENTS THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE
CONTRADICTED BY EVIDENCE OR PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS
OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.

                                       4
<PAGE>
         IN WITNESS WHEREOF, the Company and the Bank have caused this Amendment
to be duly executed as of the day and year first above written.

         COMPANY:
         BAKER HUGHES INCORPORATED

         By __________________________________________
         Name:    Douglas C. Doty
         Title:   Vice President and Treasurer

         BANK:

         By __________________________________________
         Name:
         Title:

         Commitment Limit:
         (if different than limit on signature page to Credit Agreement)

                                       5

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