Document:

a6105751ex10-1.htm

    Exhibit
10.1

    
 

    AMENDMENT NO.
5

    

    TO MULTICURRENCY REVOLVING
CREDIT AGREEMENT

    

    AMENDMENT
NO. 5 TO MULTICURRENCY REVOLVING CREDIT AGREEMENT (this "Amendment Agreement")
dated as of November 16, 2009, by and between Rogers Corporation, a
Massachusetts corporation having its principal place of business at One
Technology Drive, Rogers, Connecticut 06263 ("Rogers US"), and RBS Citizens,
National Association (the "Bank"), a national banking association with offices
at 90 State House Square, 10th Floor, Hartford,
Connecticut 06103,
successor in interest to Citizens Bank of
Connecticut, amending a certain Multicurrency Revolving Credit Agreement dated
as of November 13, 2006 as amended by Amendment No. 1 to Multicurrency Revolving
Credit Agreement dated as of November 10, 2007, Amendment No. 2 to Multicurrency
Revolving Credit Agreement dated as of June 17, 2008, Amendment No. 3 to
Multicurrency Revolving Credit Agreement dated as of October 31, 2008 and
Amendment No. 4 to Multicurrency Revolving Credit Agreement dated as of November
11, 2008  (as amended from time to time, the "Credit
Agreement").

    

    WITNESSETH

    

    WHEREAS, pursuant to the terms
of the Credit Agreement, the Bank has made certain credit facilities available
to Rogers US; and

    

    WHEREAS, Rogers US has
requested that the Bank amend certain terms of the Credit Agreement in certain
respects; and

    

    WHEREAS, the Bank is willing
to amend certain terms of the Credit Agreement in accordance with the terms
hereof.

    

    NOW, THEREFORE, for good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:

    

    §1. Definitions.
Capitalized terms used herein without definition that are defined in the Credit
Agreement shall have the same meanings herein as therein.

    

    §2. Ratification of Existing
Agreements. All of Rogers US's obligations and liabilities to the Bank as
evidenced by or otherwise arising under the Credit Agreement, the Notes and the
other Loan Documents, except as otherwise modified in this Amendment Agreement
upon the terms set forth herein, are, by Rogers US's execution of this Amendment
Agreement, ratified and confirmed in all respects. In addition, by Rogers US's
execution of this Amendment Agreement, Rogers US represents and warrants that no
counterclaim, right of set-off, right of recoupment, or defense of any kind
exists or is outstanding with respect to such obligations and liabilities.
Rogers US acknowledges and agrees that this Amendment Agreement shall be
included in the definition of Loan Documents under the Credit
Agreement.

    

    §3. Representations and
Warranties. Rogers US hereby represents and warrants to the Bank as
follows:

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (a) All
of the representations and warranties made by Rogers US in Sections 6.1, 6.7,
6.10, 6.11 and 6.16 of the Credit Agreement are true and correct on the date
hereof as if made on and as of the date hereof.

    

    (b) No
Event of Default under and as defined in the Credit Agreement or any of the Loan
Documents has occurred and is continuing on the date hereof.

    

    §4. Conditions Precedent.
The effectiveness of the amendments contemplated hereby shall be subject to the
satisfaction on or before the date hereof of each of the following conditions
precedent:

    

    (a) Representations and
Warranties. All of the representations and warranties made by Rogers US
herein, whether directly or incorporated by reference, shall be true and correct
on the date hereof.

    

    (b) Performance; No Event of
Default. Rogers US shall have performed and complied in all material
respects with all terms and conditions herein required to be performed or
complied with by it prior to or at the time hereof, and there shall exist no
Event of Default or condition which, with either or both the giving of notice or
the lapse of time, would result in an Event of Default upon the execution and
delivery of this Amendment Agreement.

    

    (c) Delivery. Rogers US
shall have executed and delivered this Amendment Agreement and all documents,
instruments, and agreements reasonably required by the Bank in connection with
any of the foregoing (collectively, together with the Amendment Agreement, the
"Documents").

    

    (d) Corporate Action. The
Bank shall have received a copy of the resolutions, in form and substance
reasonably satisfactory to Bank, of the Board of Directors (or other governing
body) of Rogers US authorizing the execution, delivery and performance of the
Documents, as appropriate.

    

    (e) Proceedings and
Documents. All proceedings in connection with the transactions
contemplated by this Amendment Agreement and the Documents shall be satisfactory
in substance and form to the Bank, and the Bank shall have received all
information and such counterpart originals or certified or other copies of such
documents as it may request.

    

    (f) Good Standing
Certificates. The Bank shall have received a good standing certificate
for Rogers US dated not more than thirty (30) days prior to the date hereof,
issued by the appropriate governmental authority of Rogers US jurisdiction of
organization.

    

    (g) Incumbency
Certificates. The Bank shall have received a certificate of the Secretary
or an Assistant Secretary (or comparable officer) of  Rogers US, in
form and substance reasonably satisfactory to the Bank, as to the incumbency and
signature of each officer executing any of the Documents, together with evidence
of the incumbency of such Secretary, Assistant Secretary or comparable officer;
the Bank acknowledges that a certificate indicating no changes in incumbency
since October 31, 2008 for such entity will be satisfactory to the
Bank.

     

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    §5. Amendment to the Credit
Agreement.

    

    (a) The
definition of “Adjustment Date” in Section 1.01 of the Credit Agreement is
hereby deleted in its entirety and is of no further force or
effect.

     

    (b) The
definition of “Applicable Margin” in Section 1.01 of the Credit Agreement is
hereby amended and restated in its entirety as follows:

     

     

    Applicable
Margin.  Commencing on the Amendment No. 5 Effective Date, the
Applicable Margin for Prime Rate Loans shall be 0% and for LIBOR Rate Loans
shall be 2.00%.

     

    (c) The
definition of “EBITDA” in Section 1.01 of the Credit Agreement is hereby amended
and restated in its entirety as follows:

     

    EBITDA.  The
Consolidated Net Income (or Deficit) of Rogers US and its Subsidiaries for any
fiscal period, plus, to the extent
deducted in the calculation of Consolidated Net Income (or Deficit) and without
duplication, (a) (i)depreciation, amortization and other similar non-cash
charges for such period, (ii) non-cash stock compensation expense for such
period and (iii) non-cash fixed asset impairment charges in the amount of
$13,400,000 for fiscal periods ending September 30, 2009 through June 30, 2010
and in the amount of $3,000,000 for fiscal periods ending on and after December
31, 2010, (b) income tax expense for such period, and (c) Consolidated Total
Interest Expense paid or accrued during such period, excluding the net income
(or deficit) of any Person (other than a Subsidiary) in which Rogers US or a
Subsidiary has an ownership interest, except to the extent that any such income
has been actually received by Roger US or such Subsidiary in the form of cash
dividends or similar cash Distributions, in each case as determined in
accordance with generally accepted accounting principles.

     

    (d) The
definition of “Rate Adjustment Period” in Section 1.01 of the Credit Agreement
is hereby deleted in its entirety and is of no further force or
effect.

     

    (e) The
definition of “Revolving Credit A Commitment Amount” in Section 1.01 of the
Credit Agreement is hereby amended and restated in its entirety as
follows:

    

    Revolving Credit A
Commitment Amount:  The amount of the Bank’s Commitment under
Revolving Credit Facility A, as in effect from time to time.  On the
Amendment No. 5 Effective Date, the Revolving Credit A Commitment Amount is
Fifty Million Dollars ($50,000,000).

     

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    (f) The
definition of “Revolving Credit B Commitment Amount” in Section 1.01 of the
Credit Agreement is hereby amended and restated in its entirety as
follows:

    

    Revolving Credit B
Commitment Amount:  The amount of the Bank’s Commitment under
Revolving Credit Facility B, as in effect from time to time.  On the
Amendment No. 5 Effective Date, the Revolving Credit B Commitment Amount is zero
($0).

    

    (g) The
definition of “Total Commitment” in Section 1.01 of the Credit Agreement is
hereby amended and restated in its entirety as follows:

     

    Total
Commitment.  The sum of the Revolving Credit A Commitment and
the Revolving Credit B Commitment, as in effect from time to time.  On
the Amendment No. 5 Effective Date, the Total Commitment is Fifty Million
Dollars ($50,000,000).

     

    (h) The
definition of “Unused Line Fee Rate” in Section 1.01 of the Credit Agreement is
hereby amended and restated in its entirety as follows:

     

    Unused Line Fee
Rate.  Commencing as of the Amendment No. 5 Effective Date, a
per annum rate equal to 30 basis points.

     

    (i) The
definition of  “Citibank Credit Facility” is hereby inserted in
Section 1.01 of the Credit Agreement as follows:

    

    Citibank Credit
Facility. A credit facility between Borrower and Citibank, N.A. (or an
affiliate thereof) providing for loans and advances to Borrower in an amount
which does not exceed the principal amount of $10,000,000 at any one time
outstanding.

    

    (j) The
definition of  “Amendment No. 5 Effective Date” is hereby inserted in
Section 1.01 of the Credit Agreement as follows:

    

    Amendment No. 5 Effective
Date.  November 16, 2009

    

    (k) The
following is hereby inserted as a new clause (i) in Section 8.1 of the Credit
Agreement:

     

    (i) Indebtedness
incurred under the Citibank Credit Facility.

     

    (l) The word
“and” appearing after the semi-colon in clause (k) of Section 8.2 of the Credit
Agreement is hereby deleted from such clause and the period appearing at the end
of clause (l) of such Section 8.2 is hereby deleted and “; and” is hereby
inserted in lieu thereof.

     

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    (m) The
following is hereby inserted as a new clause (m) in Section 8.2 of the Credit
Agreement:

     

    (m)           pledges
and liens on Borrower’s auction rate securities currently maintained in an
account with Citibank, N.A. (or an affiliate thereof) to secure the Citibank
Credit Facility.

     

    (n) The word
“or” appearing after the semi-colon in clause (m) of Section 12.1 of the Credit
Agreement is hereby deleted from such clause and is hereby inserted after the
semi-colon appearing at the end of clause (n) of such Section 12.1.

     

    (o) The
following is hereby inserted as a new clause (o) in Section 12.1 of the Credit
Agreement:

     

    (o)           a
default or event of default shall occur under the Citibank Credit
Facility.

     

    §6. No Waiver by Bank.
Except as otherwise expressly provided for herein, nothing in this Amendment
Agreement shall extend to or affect in any way the Rogers Entities' obligations
or the Bank's rights and remedies arising under the Credit Agreement or the
other Loan Documents, and the Bank shall not be deemed to have waived any of its
remedies with respect to any Event of Default or event or condition which, with
notice or the lapse of time, or both, would become an Event of Default and which
upon Rogers US's execution and delivery of this Amendment Agreement might
otherwise exist or which might hereafter occur.

    

    §7. Expenses. Rogers US
agrees to pay to the Bank upon demand an amount equal to the reasonable fees,
expenses and disbursements of the Bank (including reasonable attorneys’ fees and
costs) incurred in connection with the preparation of this Amendment Agreement
and any related Loan Documents pursuant to Section 15.7 of the Credit
Agreement.

     

    §8. Miscellaneous.

    

    (a) This
Amendment Agreement shall be governed by and construed in accordance with the
laws of the Commonwealth of Massachusetts as an instrument under
seal.

     

    (b) Except as
otherwise expressly provided by this Amendment Agreement, all of the respective
terms, conditions and provisions of the Credit Agreement shall remain the same.
It is declared and agreed by each of the parties hereto that the Credit
Agreement, as amended hereby, shall continue in full force and effect, and that
this Amendment Agreement and the Credit Agreement be read and construed as one
instrument, and all references in the Loan Documents to the Credit Agreement
shall hereafter refer to the Credit Agreement, as amended by this Amendment
Agreement.

    

    (c) This
Amendment Agreement may be executed in any number of counterparts, each of which
shall be an original but all of which together shall constitute one instrument.
Each counterpart may consist of a number of copies hereof, each signed by less
than all, but together signed by all, of the parties hereto. A facsimile or
other electronic transmission of an executed counterpart shall have the same
effect as the original executed counterpart.

     

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    IN WITNESS
WHEREOF, each of the parties hereto have caused this Agreement to be executed in
its name and behalf by its duly authorized officer as of the date first written
above.

    

    
      
        	 	
                RBS
      CITIZENS, NATIONAL ASSOCIATION

              	 
	 	 	 	 
	
                 

              	
                
                  By:

                

              	/s/ Gary Burdick	 
	 	 	Name:  Gary
      Burdick	 
	 	 	
                Title:  Senior
      Vice President

              	 
	 	 	 	 

 

       

    

     

    
      
        	 	
                ROGERS
      CORPORATION

              	 
	 	 	 	 
	
                 

              	
                      
                  By:

                

              	/s/ Dennis M. Loughran	 
	 	 	
                Name:
      Dennis M. Loughran

              	 
	 	 	Title:  V.P.
      Finance, CFO	 
	 	 	 	 

      

     

    6a6105751ex10-2.htm

     

    Exhibit
10.2

     

     

    GUARANTY
CONFIRMATION AGREEMENT

    

    AGREEMENT,
dated as of November 16, 2009, by and among Rogers KF, Inc., a Delaware
corporation, Rogers Specialty Materials Corporation, a Delaware corporation,
Rogers Japan Inc., a Delaware corporation, Rogers Southeast Asia, Inc., a
Delaware corporation, Rogers Taiwan, Inc., a Delaware corporation, Rogers Korea,
Inc., a Delaware corporation, Rogers Technologies Singapore, Inc., a Delaware
corporation and Rogers Circuit Materials Incorporated, a Delaware corporation
(together, the "Guarantors"), and RBS Citizens, National Association, a national
banking association (the "Bank"), successor in interest to Citizens Bank of
Connecticut, a Connecticut stock savings bank.

    

    R E C I T A L
S

    

    The
Guarantors executed and delivered to Citizens Bank of Connecticut, predecessor
in interest to the Lender, a Guaranty dated as of November 13, 2006 (the
"Guaranty"), pursuant to which the Guarantors absolutely and unconditionally
guaranteed to the Lender the full and prompt payment and performance when due of
the "Obligations" of Rogers Corporation (the "Borrower"), Rogers Technologies
(Barbados) SRL, Rogers (China) Investment Co., Ltd., Rogers N.V., and Rogers
Technologies (Suzhou) Co. Ltd. to Citizens Bank of Connecticut, predecessor in
interest to the Lender, all as set forth in more detail therein. The Lender and
the Borrower now desire to enter into a certain Amendment No. 5 to Multicurrency
Revolving Credit Agreement dated of even date herewith (the
"Amendment").

    

    Guarantors
shall derive substantial benefits, financial and otherwise, from the execution
and delivery of the Amendment and any agreements or instruments executed in
connection therewith (including without limitation any and all amended and
restated revolving credit notes).

    

    The Lender
is only willing to enter into the Amendment if, among other things, Guarantors
execute and deliver this Agreement.

    

    NOW,
THEREFORE, in consideration of the premises, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, and
to induce the granting of any further credit by the Lender to the Borrower,
Guarantors hereby agree as follows:

    

    1.           
Each Guarantor hereby represents, warrants, confirms and covenants to the Lender
that (i) the Guaranty remains in full force and effect, (ii) the Guaranty
remains the legal, valid and binding obligation of such Guarantor, enforceable
in accordance with its terms, (iii) such Guarantor has no claims, counterclaims,
defenses or offsets against the Lender, whether relating to the Guaranty or
otherwise and (iv) pursuant to the provisions of the Guaranty, the obligations
of the Borrower guaranteed by such Guarantor pursuant to the Guaranty include,
without limitation, all principal, interest, costs and expenses (including
attorneys' fees) under the Notes (it being acknowledged that the Revolving
Credit B Commitment has been transmitted pursuant to the Amendment and that all
amounts evidenced by the Revolving Credit B have been paid in full as of the
date hereof) and any and all obligations under any swap or hedging agreements.
Pursuant to the applicable terms and provisions of the Guaranty, none of the
modifications set forth or to be set forth in the Amendment (or in any other
agreement or instrument) shall impair the obligations of Guarantors under the
Guaranty.

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    2.           
The execution and delivery of this Agreement (or any other confirmation (past,
present or future)) shall not be construed or interpreted to create a custom or
course of dealing or performance (or any duty or obligation) pursuant to which
the Lender is required to obtain a confirmation or consent from the Guarantors,
or to notify the Guarantors, with respect to any modification or other event or
circumstance. No such consent or confirmation or notice shall be necessary in
connection with any such modification or other event or circumstance in order to
keep the obligations of Guarantors under the Guaranty in full force and effect,
said obligations being unconditional as set forth therein.

     

    3.           
No amendment, waiver or other modification of this Agreement shall be effective
against a party hereto unless set forth in writing signed by such party. This
Agreement may be executed in counterparts.

     

    4.           
This Agreement shall (i) be binding upon and inure to the benefit of the parties
hereto and their respective successors and assigns and (ii) shall be governed by
and construed in accordance with the internal laws of The Commonwealth of
Massachusetts.

     

     

    [Signatures begin on next
page]

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    IN WITNESS
WHEREOF, the parties hereto have executed and delivered this Agreement as of the
day and year first written above.

     

    

    ROGERS KF,
INC.

    

    

    By: /s/ Robert D. Wachob

    Robert D. Wachob

    President

    

    

    By: /s/ Dennis M. Loughran

    Dennis M. Loughran

    Vice President

    

    

    

    ROGERS
SPECIALTY MATERIALS CORPORATION

    

    

    By: /s/ Robert D. Wachob

    Robert D. Wachob

    President

    

    

    By: /s/ Dennis M.
Loughran

    Dennis M. Loughran

    Vice President

    

    

    ROGERS JAPAN, INC.

    

    

    By: /s/ Robert D.
Wachob

    Robert D. Wachob

    President

    

    

    By: /s/ Dennis M.
Loughran

    Dennis M. Loughran

    Vice President

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    ROGERS
SOUTHEAST ASIA, INC.

    

    

    By: /s/ Robert D.
Wachob

    Robert D. Wachob

    President

    

    

    By: /s/ Dennis M.
Loughran

    Dennis M. Loughran

    Vice President

    

    

    ROGERS TAIWAN, INC.

    

    

    By: /s/ Robert D.
Wachob

    Robert D. Wachob

    President

    

    

    By: /s/ Dennis M.
Loughran

    Dennis M. Loughran

    Vice President

    

    

    ROGERS
KOREA, INC.

    

    

    By: /s/ Robert D.
Wachob

    Robert D. Wachob

    President

    

    

    By: /s/ Dennis M.
Loughran

    Dennis M. Loughran

    Vice President

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    ROGERS TECHNOLOGIES

    SINGAPORE, INC.

    

    

    By: /s/ Robert D.
Wachob

    Robert D. Wachob

    President

    

    

    By: /s/ Dennis M.
Loughran

    Dennis M. Loughran

    Vice President

    

    

    ROGERS CIRCUIT MATERIALS

    INCORPORATED

    

    

    By: /s/ Robert D.
Wachob

    Robert D. Wachob

    President

    

    

    By: /s/ Dennis M.
Loughran

    Dennis M. Loughran

    Vice President

    

    

    

    RBS CITIZENS, NATIONAL
ASSOCIATION

    

    

    By:/s/ Gary Burdick

    Gary Burdick

    Senior
Vice President

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