Document:

EXHIBIT 4.8

 

Wuxi Seamless Oil Pipe Co., Ltd.

 

(as Borrower)

 

 

and

 

 

Bank of China Limited Wuxi Hi-tech Industrial Development Zone Sub-branch

 

(as Credit Agent Bank)

 

 

Supplemental Agreement to

 

Comprehensive Credit and Loan Agreement

 

between

 

Wuxi Seamless Oil Pipe Co., Ltd.

 

and

 

Structured Bank Consortium

 

in an Amount Equivalent to RMB3.5 Billion

 

 

December 30, 2011

 

Wuxi

 

 

This supplemental agreement (hereinafter referred to as this “Supplemental Agreement”) is made and entered into in the Hi-tech Industrial Development Zone of Wuxi on December 30th, 2011, by and between:

 

(1)          Wuxi Seamless Oil Pipe Co., Ltd., a limited liability company established and existing in accordance with the laws of the Peroples’ Republic of China, whose registered address is located No. 235, Chengnan Road, Wuxi Hi-tech Industrial Development Zone, as the borrower (hereinafter referred to as the “Borrower”); and

 

(2)          Bank of China Limited Wuxi Hi-tech Industrial Development Zone Sub-branch, as the credit agent bank (hereinafter referred to as the “Credit Agent Bank”).

 

WHEREAS:

 

(1)          The Borrower (as the borrower therein) , Bank of China Limited Jiangsu Branch (as the arranging bank therein), Bank of China Limited Wuxi Branch, Agricultural Bank Limited Wuxi Branch (as the co-lead banks therein and hereinafter referred to as the “Co-lead Banks”), the Credit Agent Bank, Agricultural Bank of China Limited Wuxi New District Sub-branch, Bank of China Limited Wuxi Hi-tech Industrial Development Zone Sub-branch (as the guarantee agent bank therein and hereinafter referred to as the “Guarantee Agent Bank”) and other financial institutions as the participant banks therein (hereinafter referred to as the “Participant Banks”) entered into a comprehensive credit and loan agreement with a structured bank consortium in an aggregate amount equivalent to RMB3.5 billion on August 29th, 2011 (hereinafter referred to as the “Credit and Loan Agreement”).

 

(2)          Article 29.1 of the Credit and Loan Agreement provides that: “the Credit Agent Bank and the Borrower may, from time to time, amend the terms and conditions of this Agreement by entering into supplemental agreements in writing in accordance with Article 21.2(1) hereof. Any amendment made pursuant to this Article shall have the binding effect to all the Participant Banks, the Agent Banks and the Borrower. Without prior written consent of any relevant party, any of such amendments and waivers shall not incur additional obligations on that relevant party.”

 

(3)          The bank consortium resolved on making an amendment to the Credit and Loan Agreement at the syndication meeting on December 30th, 2011.

 

(4)          The Borrower agrees to amend the Credit and Loan Agreement in accordance with the syndication resolution set forth above.

 

Unless otherwise provided herein, the terms defined and interpreted in the Credit and Loan Agreement shall have the same meanings as in this Supplemental Agreement.

 

After friendly negotiation on equal basis, each of the parties, with their respective genuine intent, hereby agrees that:

 

 

1.               Article 8.1 of the Credit and Loan Agreement shall be amended and replaced in the entirety as follows:

 

8.1                                 Unless agreed otherwise in this Agreement, the Borrower shall repay the Loan Funds under the Loan Line pursuant to the following repayment terms, dates and principal amounts:

 

	
Term
    	
 
    	
Repayment Date
    	
 
    	
Repayment Amount
    
	
1
    	
 
    	
The Interest   Payment Date in the sixth (6th) month following the Drawdown Date of the   initial Loan Fund
    	
 
    	
1% of the Loan   Fund then outstanding at the expiry of the Availability Period
    
	
2
    	
 
    	
The Interest   Payment Date in the twelfth (12th) month following the Drawdown Date of the   initial Loan Fund
    	
 
    	
1% of the Loan   Fund then outstanding at the expiry of the Availability Period
    
	
3
    	
 
    	
The Interest Payment   Date in the eighteenth (18th) month following the Drawdown Date of the   initial Loan Fund
    	
 
    	
1% of the Loan   Fund then outstanding at the expiry of the Availability Period
    
	
4
    	
 
    	
The Interest   Payment Date in the twenty-fourth (24th) month following the Drawdown Date of   the initial Loan Fund
    	
 
    	
17% of the Loan   Fund then outstanding at the expiry of the Availability Period
    
	
5
    	
 
    	
The Interest   Payment Date in the thirtieth (30th) month following the Drawdown Date of the   initial Loan Fund
    	
 
    	
10% of the Loan   Fund then outstanding at the expiry of the Availability Period
    
	
6
    	
 
    	
Final Maturity   Date
    	
 
    	
70% of the Loan   Fund then outstanding at the expiry of the Availability Period
    
	
Total
    	
 
    	
-
    	
 
    	
100% of the Loan   Fund then outstanding at the expiry of the Availability Period
    

 

2.               This Supplemental Agreement, as a supplement to the Credit and Loan Agreement, shall have the same legal effect as the Credit and Loan Agreement. This Supplemental Agreement shall prevail as to those supplemented and amended hereby. Those in the Credit and Loan Agreement not supplemented and amended by this Supplemental Agreement shall continue to be in full force and effect.

 

3.               This Supplemental Agreement shall take effect on the signing date hereof by the parties and have the binding effect on all the Participant Banks and the Agent Banks.

 

4.               This Supplemental Agreement shall be executed in two (2) counterparts. The Borrower and the Credit Agent Bank shall each keep one counterpart and each counterpart shall have the same legal effect.

 

(The remainder of this page is intentionally left blank. Signature pages will follow.)

 

 

(This is the signature page to the Supplemental Agreement to the Comprehensive Credit and Loan Agreement between Wuxi Seamless Oil Pipe Co., Ltd. and the Structured Bank Consortium.)

 

 

	
Borrower:
    	
 
    	
Wuxi Seamless Oil Pipe   Co., Ltd.
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Address:
    	
 
    	
235 Chengnan Road,   Wuxi Hi-tech Industrial Development Zone 214028
    
	
Legal   representative:
    	
 
    	
Longhua Piao
    	
 
    	
 
    
	
Telephone:
    	
 
    	
0510-85360216
    	
 
    	
Fax: 
    	
0510-85226351
    
	
Contact person:
    	
 
    	
Jueying Feng
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Authorized   signatory:
    	
 
    	
/s/ Longhua Piao
    	
 
    	
 
    
	
Name:
    	
 
    	
Longhua Piao
    	
 
    	
Company chop
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Date:   December 30, 2011
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Credit Agent Bank:
    	
 
    	
Bank of China Limited   Wuxi Hi-tech Industrial Development Zone Sub-branch
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Address:
    	
 
    	
40 Wangzhuang   Road, Wuxi Hi-tech Industrial Development Zone 214028
    
	
Person in charge:
    	
 
    	
Tao Chen
    	
 
    	
 
    
	
Telephone:
    	
 
    	
0510-85212210
    	
 
    	
Fax: 
    	
0510-85223159
    
	
Contact person:
    	
 
    	
Kouxiang Song
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Authorized   signatory:
    	
 
    	
/s/ Kouxiang Song
    	
 
    	
 
    
	
Name:
    	
 
    	
Kouxiang Song
    	
 
    	
Company chop
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Date:   December 30, 2011Exhibit 4.1

 

AMENDMENT NO. 1 TO RIGHTS AGREEMENT

 

THIS AMENDMENT NO. 1 (the “Amendment”), dated as of May 14, 2012, to the Rights Agreement (the “Rights Agreement”), dated as of December 16, 2004, between Kratos Defense & Security Solutions, Inc., a Delaware corporation (the “Company”), and Wells Fargo Bank, N.A. (the “Rights Agent”), is being executed at the direction of the Company.

 

WHEREAS, Section 26 of the Rights Agreement permits the Company from time to time to supplement and amend the Rights Agreement.

 

NOW, THEREFORE, in consideration of the foregoing and the agreements, provisions and covenants herein contained, the parties agree as follows:

 

1.                                      The defined term “Acquiring Person” in Section 1(a) of the Rights Agreement is hereby deleted in its entirety and replaced with the following:

 

“Acquiring Person” shall mean any Person who or which, together with all Affiliates or Associates of such Person, shall be the Beneficial Owner of 15% or more of the shares of Company Common Stock then outstanding.  Notwithstanding the foregoing, (i) an “Acquiring Person” shall not include any Exempt Person; and (ii) no Person shall be deemed an “Acquiring Person” as a result of the acquisition of shares of Company Common Stock by the Company which, by reducing the number of shares of Company Common Stock outstanding, increases the proportional number of shares beneficially owned by such Person; provided, however, that if (x) a Person would become an Acquiring Person (but for the operation of this subclause (ii)) as a result of the acquisition of shares of Company Common Stock by the Company and (y) after such share acquisition by the Company, such Person becomes the Beneficial Owner of any additional shares of Company Common Stock (other than pursuant to the grant or exercise of an option under a Company stock option plan or pursuant to a dividend or distribution paid or made by the Company on the outstanding shares of Company Common Stock or pursuant to a split or subdivision of the Company Common Stock), then such Person shall be deemed an Acquiring Person unless, upon becoming the Beneficial Owner of such additional shares, such Person is the Beneficial Owner of less than 15% of the outstanding shares of Company Common Stock.

 

2.                                      A new defined term “Exempt Person” is hereby added to Section 1(a) of the Rights Agreement as follows:

 

“Exempt Person” shall mean (A) the Company; (B) any Subsidiary of the Company; (C) any employee benefit plan maintained by the Company or any of its Subsidiaries; (D) any trustee or fiduciary with respect to such employee benefit plan acting in such capacity or a trustee or fiduciary holding shares of Company Common Stock for the purpose of funding any such plan or employee benefits; (E) Oak Investment Partners IX, L.P., Oak IX Affiliates Fund, L.P., Oak IX Affiliates Fund-A, L.P., Oak X Affiliates Fund, L.P., Oak Investment Partners X, L.P., Oak Investment Partners XIII, L.P. or their Affiliates and Associates (collectively, the “Oak Parties”) as long as (1) the Oak Parties, individually or in the aggregate, are not the Beneficial Owner of more than 25% of the

 

1

 

shares of Company Common Stock then outstanding (other than pursuant to a transaction authorized in writing in advance by the Board of Directors, including a dividend or distribution paid or made by the Company on the outstanding shares of Company Common Stock in shares of Company Common Stock or pursuant to a split or subdivision of shares of Company Common Stock), (2) the Standstill Agreement, dated May 14, 2012, between the Company and the Oak Parties, as amended from time to time, (the “Standstill Agreement”) continues to be a binding enforceable obligation of the Oak Parties, (3) the Oak Parties are in substantial and material compliance (as determined by the Board of Directors in its sole discretion) with the terms of the Standstill Agreement, (4) any and all amendments to the Standstill Agreement have been approved by the Board of Directors and (5) no amendments, if executed after the Distribution Date, cure, or have the effect of curing, any prior breach of the Standstill Agreement; (F) any Person if the Board of Directors determines in good faith that such Person who would otherwise be an “Acquiring Person” became such inadvertently (including, without limitation, because (x) such Person was unaware that it beneficially owned a percentage of Company Common Stock that would otherwise cause such Person to be an “Acquiring Person” or (y) such Person was aware of the extent of its Beneficial Ownership of Company Common Stock but had no actual knowledge of the consequences of such Beneficial Ownership under this Agreement) and without any intention of changing or influencing control of the Company, and if such Person does not acquire any additional shares of Company Common Stock and as promptly as practicable divested or divests itself of Beneficial Ownership of a sufficient number of shares of Company Common Stock so that such Person would no longer be an “Acquiring Person;” or (G) any Person who becomes the Beneficial Owner of 15% or more of the then-outstanding shares of Company Common Stock as a result of the acquisition of shares of Company Common Stock directly from the Company in one or more transactions approved by a majority of the Board of Directors.

 

3.                                      By executing this Amendment below, the Company certifies that this Amendment has been executed and delivered in compliance with the terms of Section 26 of the Rights Agreement.

 

4.                                      The term “Agreement” as used in the Rights Agreement shall be deemed to refer to the Rights Agreement as amended hereby, and all references to the Rights Agreement shall be deemed to include this Amendment.

 

5.                                      This Amendment shall become effective as of the day and year first written above.  Except as modified by this Amendment, the Rights Agreement shall remain in full force and effect without any modification.

 

6.                                      This Amendment may be executed in several counterparts, each of which shall constitute an original and all of which, when taken together, shall constitute one agreement.

 

7.                                      This Amendment shall be deemed to be a contract made under the laws of the State of Delaware and for all purposes shall be governed by and construed in accordance with the laws of such State applicable to contracts to be made and performed entirely within such State.

 

2

 

The parties hereto have caused this Amendment to be executed and delivered as of the day and year first written above.

 

	
 
    	
KRATOS DEFENSE & SECURITY SOLUTIONS, INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Deanna H. Lund 
    
	
 
    	
Name:   
    	
Deanna   H. Lund 
    
	
 
    	
Title:   
    	
Executive   Vice President and 
    
	
 
    	
 
    	
Chief   Financial Officer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
WELLS   FARGO BANK, N.A.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Martin J. Knapp
    
	
 
    	
Name:   
    	
Martin   J. Knapp
    
	
 
    	
Title:
    	
Assistant   Vice President
    

 

[SIGNATURE PAGE TO AMENDMENT NO. 1 TO RIGHTS AGREEMENT]

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