Document:

exhibit10_8.htm

EXHIBIT 10.8

 

2009 ROWAN COMPANIES, INC. INCENTIVE PLAN

(as Amended and Restated and as Assumed and Adopted by

Rowan Companies plc, Effective May 4, 2012)

NON-EMPLOYEE DIRECTOR RESTRICTED SHARE UNIT NOTICE

 

	
1.  

	
Grant of Restricted Share Units.  Rowan Companies plc, a public limited company incorporated under English law (the “Company”), has assumed and adopted the 2009 Rowan Companies, Inc. Incentive Plan, as amended and restated (the “Plan”), and adopted Annex 1 to the Plan.  To carry out the purposes of the Plan and subject to the conditions described in this Notice and the Plan, the Company hereby grants to                  (the “Participant”),                        Restricted Share Units (“RSUs”), effective as of           , 2012 (the “Grant Date”), with respect to the Participant’s annual service period commencing          , 2012 (the “2012 Grant”).  All capitalized terms not otherwise defined herein shall have the meanings set forth in the Plan; references in this Notice to the Plan shall be taken to include Annex 1 to the Plan; the Plan is incorporated herein by reference as a part of this Notice.

 

	
2.  

	
Vesting.  The 2012 Grant shall be fully vested and nonforfeitable as of the earlier of (i) the date of the next following annual general meeting of the Company’s shareholders or (ii) one year from the date of the 2012 Grant; provided, however, that if the Participant resigns or is removed from the Board prior to such date, such 2012 Grant shall be forfeited.

 

	
3.  

	
Establishment of Accounts.  The Company shall maintain an appropriate bookkeeping record (the “RSU Account”) that from time to time will reflect the Participant’s name, the number of vested and unvested RSUs credited to the Participant and the Fair Market Value of the RSUs credited to the Participant.  Fair Market Value of a RSU shall be deemed to be equal to the Fair Market Value of one Share.  The 2012 Grant shall be credited to the Participant’s RSU Account effective as of the Grant Date.

 

	
4.  

	
Dividends.  As of each date on or after the Grant Date that cash dividends are paid with respect to Shares, to the extent that the Participant has any outstanding RSUs credited to his or her RSU Account, the Participant shall have an additional amount credited to his or her RSU Account equal to the number of RSUs (rounded up to the nearest whole number) having a Fair Market Value equal to the dollar amount of dividends paid per Share multiplied by the number of RSUs credited to the Participant’s RSU Account as of the payment date of such dividend.  Any equivalent amount credited to the Participant at the same time as dividends are paid or credited on Shares shall be provided to compensate the Participant for the fact that actual dividends or other distributions are not paid or issued with respect to the Shares subject to the RSUs until the payment of the RSUs as described in Section 9 below.  Accordingly, such amount shall be considered earnings from the Participant’s directorship and shall not constitute actual dividends.

 

	
5.  

	
Responsibility for Taxes.  The Participant acknowledges that, regardless of any action by the Company, the ultimate liability for all income tax, social insurance, fringe benefits tax, payment on account or other tax-related items related to the Participant's participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant's responsibility and may exceed the amount actually withheld by the Company.  The Participant further acknowledges that the Company (i) makes no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the RSUs, including, but not limited to, the grant, vesting or payment of the RSUs, the subsequent sale of any shares acquired pursuant to the RSUs and the receipt of any dividends or dividend equivalent amounts, and (ii) does not commit to and is under no obligation to structure the terms of the grant or any aspect of the RSUs to reduce or eliminate the Participant's liability for Tax-Related Items or achieve any particular tax result.  Further, if the Participant is subject to Tax-Related Items in more than one jurisdiction between the Grant Date and the date of any relevant taxable or tax withholding event, as applicable, the Participant acknowledges that the Company may be required to withhold or account for Tax-Related Items in more than one jurisdiction.

 

Prior to any relevant taxable or tax withholding event, as applicable, the Participant agrees to make adequate arrangements satisfactory to the Company to satisfy all Tax-Related Items.  In this regard, the Participant authorizes the Company, or its agent, to satisfy the obligations with regard to all Tax-Related Items by one or a combination of the following:

 

	
  

	
(a)

	
withholding from any cash payment to be made to the Participant by the Company, including any cash payment made pursuant to the RSUs;

 

	
  

	
(b)

	
withholding from proceeds of the sale of Shares acquired upon payment of the RSUs either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant's behalf pursuant to this authorization without further consent);

 

	
  

	
(c)

	
selling or transferring to the employee benefit trust established in connection with the Company’s adoption and assumption of the Plan a number of Shares that would otherwise be issued upon payment of the RSUs; and

 

	
  

	
(d)

	
If the RSUs are paid in cash, withholding in Shares to be issued upon payment of the RSUs;

 

provided, however, that the Participant may elect the method of withholding from alternatives (a)-(d) herein in advance of any relevant withholding event, and in the absence of the Participant’s timely election, the Company will withhold in Shares upon the relevant withholding event.

 

Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding amounts or other applicable withholding rates, including maximum applicable rates in which case the Participant will receive a refund of any over-withheld amount in cash and will have no entitlement to the equivalent in Shares even if the RSUs are paid in Shares.  If the obligation for Tax-Related Items is satisfied by withholding in Shares, for tax purposes, the Participant is deemed to have been issued the full number of Shares subject to the RSUs, notwithstanding that a number of the Shares are held back solely for the purpose of paying the Tax-Related Items.

 

The Participant agrees to pay to the Company any amount of Tax-Related Items that the Company may be required to withhold or account for as a result of the Participant's participation in the Plan that cannot be satisfied by the means previously described.  The Company may refuse to issue or deliver the Shares or cash or the proceeds of the sale of the Shares if the Participant fails to comply with the Participant's obligations in connection with the Tax-Related Items.

 

If payment or withholding of any U.K. income tax due in connection with the RSUs is not made within ninety (90) days of any event giving rise to the income tax liability or such other period specified in Section 222(1)(c) of the U.K. Income Tax (Earnings and Pensions) Act 2003 (the “Due Date”), the amount of any uncollected income tax will constitute a benefit to the Participant on which additional income tax (and national insurance contributions (“NICs”), to the extent applicable) will be payable.  The Company may recover any such additional income tax and NICs at any time thereafter by any of the means referred to herein or otherwise permitted under the Plan.  The Participant will also be responsible for reporting and paying any income tax due on this additional benefit directly to Her Majesty’s Revenue and Customs under the self-assessment regime.

 

	
6.  

	
Reorganization of the Company.  The existence of this Notice shall not affect in any way the right or power of the Company or its shareholders to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the Company’s capital structure or its business; any merger or consolidation of the Company; any issuance of bonds, debentures, preferred or prior preference shares ahead of or affecting the Shares or the rights thereof; the dissolution or liquidation of the Company; any sale or transfer of all or any part of its assets or business; or any other corporate act or proceeding whether of a similar character or otherwise.

 

	
7.  

	
Recapitalization Events.  In the event of share dividends, spin-offs of assets or other extraordinary dividends, share splits, combinations of shares, recapitalizations, mergers, consolidations, reorganizations, liquidations, issuances of rights or warrants and similar transactions or events involving the Company (“Recapitalization Events”), then for all purposes references herein to Shares or to RSUs shall mean and include all securities or other property (other than cash) that holders of Shares are entitled to receive in respect of Shares by reason of each successive Recapitalization Event, which securities or other property (other than cash) shall be treated in the same manner and shall be subject to the same restrictions as the underlying RSUs.

 

	
8.  

	
Amount of Payment.  As of the final termination date of the Participant’s service on the Board, the aggregate Fair Market Value of all vested RSUs then credited to the Participant’s RSU Account shall be calculated by multiplying the Fair Market Value of a Share on such date times the number of RSUs then credited to the Participant’s RSU Account.

 

	
9.  

	
Time and Form of Payment.  Payment to the Participant of amounts due hereunder shall be made in Shares, or at the discretion of the Committee in cash in a lump sum, on the 30th day following the final termination date of the Participant’s services on the Board.  If payment is made in Shares, Participant may be required to pay the nominal value for such Shares.

 

	
10.  

	
Death Prior to Payment.  In the event that the Participant dies prior to payment, all RSUs shall become fully vested and immediately payable to the legal representative of the Participant’s estate or the person who acquires rights under this Notice by bequest or inheritance or by reason of the death of the Participant, subject to Section 11 below

 

	
11.  

	
Participant’s Directorship.  In consideration of this grant of RSUs, the Participant covenants with the Company that he or she shall remain a Director for at least six (6) months from the Date of Grant.

 

	
12.  

	
Transfer of RSUs.  Except as provided herein, all rights granted hereunder shall not be transferable other than by will or the laws of descent and distribution.  Any purported assignment, alienation, pledge, attachment, sale, transfer or encumbrance of the RSUs that does not satisfy the requirements set forth hereunder shall be void and unenforceable against the Company.

 

	
13.  

	
Severability.  In the event that any provision of this Notice shall be held illegal, invalid, or unenforceable for any reason, such provision shall be fully severable and shall not affect the remaining provisions of this Notice, and this Notice shall be construed and enforced as if the illegal, invalid, or unenforceable provision had never been included herein.

 

	
14.  

	
Certain Restrictions.   By accepting the RSUs granted under this Notice, the Participant acknowledges that he or she will enter into such written representations, warranties and agreements and execute such documents as the Company may reasonably request in order to comply with the terms of this Notice or the Plan, or securities laws or any other applicable laws, rules or regulations.

 

	
15.  

	
Recoupment.   Notwithstanding any provision of this Notice to the contrary, the Committee may, in its sole discretion:

 

	
(a)  

	
recoup from the Participant all or a portion of the Shares issued or cash paid under this Notice if the Company’s reported financial or operating results are materially and negatively restated within five years of the grant or payment of such amounts; and

 

	
(b)  

	
recoup from the Participant if, in the Committee’s judgment, the Participant engaged in conduct which was fraudulent, negligent or not in good faith, and which disrupted, damaged, impaired or interfered with the business, reputation or Employees of the Company or its Affiliates or which caused a subsequent adjustment or restatement of the Company’s reported financial statements, all or a portion of the Shares issued or cash paid under this Notice within five years of such conduct.

 

In addition, the RSUs are subject to the requirements of (i) Section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (regarding recovery of erroneously awarded compensation) and any implementing rules and regulations thereunder, (ii) similar rules under the laws of any other jurisdiction and (iii) any policies adopted by the Company to implement such requirements, all to the extent determined by the Company in its discretion to be applicable to the Participant.

 

Any Shares subject to recoupment may be transferred to an employee benefit trust established in connection with the Company’s adoption and assumption of the Plan, and the Participant agrees to execute any documents necessary to effectuate such transfer.

 

	
16.  

	
Amendment and Termination.  Except as otherwise provided in the Plan or this Notice, no amendment of this Notice that adversely affects the Participant’s rights hereunder in any material respect or termination of this Notice shall be made by the Company without the written consent of the Participant.

 

	
17.  

	
Data Privacy.  The Participant explicitly and unambiguously consents to the collection, use and transfer, in electronic or other form, of the Participant’s personal data as described in this Notice and any other grant materials by the Company for the exclusive purpose of implementing, administering and managing the Participant’s participation in the Plan.

 

	
  

	
The Participant understands that the Company may hold certain personal information about the Participant, including, but not limited to, the Participant’s name, home address and telephone number, date of birth, social insurance number or other identification number, salary, nationality, title, any shares or directorships held in the Company, details of all RSUs or any other entitlement to shares awarded, canceled, exercised, vested, unvested or outstanding in the Participant’s favor, for the exclusive purpose of implementing, administering and managing the Plan (“Data”).

 

	
  

	
The Participant understands that Data will be transferred to such share plan service provider as may be selected by the Company, which is assisting the Company with the implementation, administration and management of the Plan.  The recipients of Data may be located in the United States, the United Kingdom, or elsewhere, and the recipients’ country may have different data privacy laws and protections than the Participant’s country.  The Participant may request a list with the names and addresses of any potential recipients of Data by contacting the Company’s [insert contact].  The Participant authorizes the Company and any other possible recipients which may assist the Company (presently or in the future) with implementing, administering and managing the Plan to receive, possess, use, retain and transfer Data, in electronic or other form, for the sole purpose of implementing, administering and managing his or her participation in the Plan.  Data will be held only as long as is necessary to implement, administer and manage the Participant’s participation in the Plan.  The Participant may, at any time, view Data, request additional information about the storage and processing of Data, require any necessary amendments to Data or refuse or withdraw the consents herein, in any case without cost, by contacting in writing the Company’s [insert contact].  Further, the Participant is providing his or her consents herein on a purely voluntary basis.  The Participant’s refusal or withdrawal of his or her consent may affect the Participant’s ability to participate in the Plan.  For more information on the consequences of the Participant’s refusal to consent or withdrawal of consent, the Participant may contact the Company’s [insert contact].

 

	
18.  

	
Code Section 409A; No Guarantee of Tax Consequences.   This award of RSUs is intended to comply with Code Section 409A and the provisions hereof shall be interpreted and administered consistently with such intent.  The Company makes no commitment or guarantee to the Participant that any federal or state tax treatment will apply or be available to any person eligible for benefits under this Notice.

 

	
19.  

	
Binding Effect.  This Notice shall be binding upon and inure to the benefit of any successors to the Company and all persons lawfully claiming under the Participant.

 

	
20.  

	
Governing Law.  This Notice shall be governed by, and construed in accordance with, the laws of the England and Wales, without regard to conflict of laws principles.

 

	
21.  

	
Imposition of Other Requirements.  The Company reserves the right to impose other requirements on the Participant's participation in the Plan, on the RSUs and on any Shares issued under the Plan, to the extent the Company determines it is necessary or advisable for legal or administrative reasons, and to require the Participant to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing.

 

	
22.  

	
Waiver.  The Participant acknowledges that a waiver by the Company of breach of any provision of this Notice shall not operate or be construed as a waiver of any other provision of this Notice, or of any subsequent breach by the Participant or any other participant in the Plan.TSN 2012 Q3 Exh - 10.1

AMENDMENT NO. 2 dated as of June 4, 2012 (this “Amendment”) to the Amended and Restated Credit Agreement dated as of March 9, 2009, as amended and restated as of February 23, 2011, and as amended pursuant to the Memorandum for Lenders dated February 6, 2012 (the “Credit Agreement”), among TYSON FOODS, INC., a Delaware corporation (the “Company”), the Subsidiary Borrowers from time to time party thereto, the Lenders from time to time party thereto and JPMORGAN CHASE BANK, N.A., as administrative agent (the “Administrative Agent”).
The Company has requested that the Lenders agree (a) to permit the issuance by the Company of senior unsecured notes that (i) do not mature or require payments or prepayments of principal (including contingent payments or prepayments) prior to May 31, 2017, and (ii) do not have the benefit of guarantees or other credit enhancement, other than guarantees of Subsidiary Loan Parties (the “New Notes”), and (b) to effect the other modifications to the Credit Agreement set forth herein.  The Required Lenders are willing to agree to this Amendment on the terms and subject to the conditions set forth herein.  Capitalized terms used but not otherwise defined herein have the meanings assigned to them in the Credit Agreement.
Accordingly, in consideration of the mutual agreements herein contained and other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the parties hereto hereby agree as follows:
SECTION 1.    Amendment to the Credit Agreement.  The Credit Agreement is hereby amended as of the Amendment Effective Date as follows: 
(a)  Section 1.01 is hereby amended by deleting the definitions of “Designated Acquisition” and “Leverage Ratio” and Section 1.04(b) is hereby amended by deleting the phrase “is a Designated Transaction or”.
(b)  Section 1.01 is hereby amended by inserting each of the following definitions in the appropriate alphabetical location:
“Collateral Trigger Date” means the first date on which the Company shall fail (a) to have a corporate family rating (or at any time when there is no corporate family rating in effect, an Index Rating) from Moody’s of Ba1 or better, (b) to have a corporate credit rating (or at any time when there is no corporate credit rating in effect, an Index Rating) from S&P of BB+ or better, or (c) to have an issuer default rating (or at any time when there is no issuer default rating in effect, 

an Index Rating) from Fitch Ratings of BB+ or better.
“Consolidated Total Capitalization” means, on any date, the sum as of such date of (a) Debt to Capitalization Ratio Indebtedness as of such date and (b) total shareholders’ equity as of such date, determined on a consolidated basis in accordance with GAAP.
“Debt to Capitalization Ratio” means, on any date, the ratio of (a) Debt to Capitalization Ratio Indebtedness as of such date, to (b) Consolidated Total Capitalization as of such date.
“Debt to Capitalization Ratio Indebtedness” means, on any date, Indebtedness for Borrowed Money as of such date, less (a) to the extent included in Indebtedness for Borrowed Money, the amount of Indebtedness of Variable Interest Entities (other than Indebtedness of any SPE Subsidiary) that is not also Indebtedness of the Company or any Subsidiary (other than a Variable Interest Entity that is not an SPE Subsidiary) of the type referred to in clause (2) of the definition of Indebtedness for Borrowed Money and (b) the cash balance of the Senior Notes Account as of such date.
“Index Rating” means, for any rating agency at any time, the rating then in effect from such rating agency applicable to the Company’s senior, unsecured, non-credit enhanced long-term debt for borrowed money.
“Senior Notes Premium Amount” means the aggregate amount of make-whole payments, premiums and other amounts paid in excess of the face amount of Senior Notes prepaid or redeemed which constitutes interest expense in accordance with GAAP or would constitute “Consolidated Cash Interest Expense” but for the last sentence of the definition of such term.
(c)  Section 1.01 is hereby amended by inserting at the end of the definition of “Consolidated Cash Interest Expense” the following sentence:
The Senior Notes Premium Amount paid to holders of the Senior Notes in connection with the prepayment or redemption thereof shall be disregarded for purposes of calculating Consolidated Cash Interest Expense for any period.
(d) Section 5.14 is hereby amended by inserting at the end thereof the following paragraph (c):
(c)  In the event that the Collateral Trigger Date shall occur, not later than 15 Business Days thereafter the Company shall, and shall cause each Subsidiary 

that was a Loan Party immediately prior to the release of Collateral pursuant to Section 9.18(b) and each other Domestic Subsidiary that would thereafter have been required to become a Loan Party pursuant to Section 5.14(a) but for the provisions of Section 9.18(b) to, enter into a replacement Security Agreement and such other Collateral Documents as may be reasonably required (substantially in the same form and scope as existed immediately prior to the release of Collateral pursuant to Section 9.18(b) (except that Section 9.18(b) shall no longer apply) with such changes thereto as may be approved by the Borrower and the Administrative Agent or be reasonably required in respect of Collateral that did not exist at such time), and take all such other actions as may be reasonably required, so that all the assets constituting Collateral prior to the release of the Collateral pursuant to Section 9.18(b) (and all assets that at any time thereafter would have been required to be included in the Collateral pursuant to Section 5.14 or the Collateral Documents but for the effectiveness of such release, but excluding assets in which none of the Company nor any of such Subsidiaries has any continuing interest) shall secure the Secured Obligations, subject to any extension of time or document modification that the Administrative Agent may approve in its reasonable discretion); provided that the Company shall have 60 days from the Collateral Trigger Date in which to satisfy the requirements applicable to Control Accounts, subject to any extension of time or document modification that the Administrative Agent may approve in its reasonable discretion.
(e)  Article V is hereby amended by inserting at the end thereof the following Section 5.16:
SECTION 5.16.  Senior Notes.  The Company will use commercially reasonable efforts to as soon as practicable after the Amendment Effective Date (as defined in Amendment No. 2 to this Agreement) to repurchase or redeem all the outstanding Senior Notes.  The Company shall from time to time make such additional deposits in the Senior Notes Account as may be required so that the Senior Notes Account shall contain an amount sufficient to pay all principal, interest, makewhole payments and other amounts the Company estimates will become due in respect of the Senior Notes prior to the repurchase or redemption thereof (assuming that all amounts becoming due are paid as and when they become due).
(f)  Section 6.01 is hereby amended by replacing clause (xvii) thereof with the following clause (xvii):
(xvii)  senior unsecured notes of the Company that (A) do not mature or require payments or prepayments of principal (including contingent payments or 

prepayments) prior to May 31, 2017, and (B) do not have the benefit of guarantees or other credit enhancement, other than guarantees of Subsidiary Loan Parties;
(g)  Section 6.01 is hereby further amended by inserting at the end thereof the following paragraph:
Notwithstanding the foregoing, no Indebtedness for Borrowed Money may be created, incurred, assumed or permitted to exist if after giving effect thereto the aggregate amount of Debt to Capitalization Ratio Indebtedness would be in excess of $3,500,000,000 plus, at any time prior to October 31, 2013, the aggregate amount of the Senior Notes Premium Amount paid in connection with the prepayment or redemption thereof.
(h)  Section 6.10 is hereby amended by replacing in the proviso to clause (i)(B) thereof the phrase “imposed by the Senior Notes Documents” with the phrase “imposed by the Tyson Indenture (as defined in the Security Agreement)”.
(i)  Section 6.12 is hereby amended by replacing the reference therein to “3.00 to 1.00” with a reference to “3.75 to 1.00”.
(j)  Section 6.13 is hereby deleted and replaced with the following Section 6.13:
SECTION 6.13.  Debt to Capitalization Ratio.  The Loan Parties will not permit the Debt to Capitalization Ratio to be more than 0.50 to 1.00 as of the last day of any fiscal quarter.
(k)  The Administrative Agent is hereby directed to create a revised form of Compliance Certificate that will reflect the amendments to the Credit Agreement contained in this Amendment.  Such revised form shall replace Exhibit G to the Credit Agreement and shall be first used in connection with the delivery of financial statements in respect of the fiscal quarter ended June 30, 2012, pursuant to Section 5.01(b) of the Credit Agreement.
SECTION 2.    Representations and Warranties.  The Company represents and warrants to each of the Lenders and the Administrative Agent that as of the date hereof and as of the Amendment Effective Date (as defined in Section 3 below), before and after giving effect to this Amendment:
(a)    the materials furnished by the Company to the Lenders in connection with this Amendment do not contain any material misstatement of fact 

or omit to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading;
(b)    the representations and warranties of the Loan Parties set forth in the Loan Documents that are qualified by materiality are true and correct and the representations and warranties that are not so qualified are true and correct in all material respects on and as of the Amendment Effective Date, except to the extent such representations and warranties expressly relate to an earlier date (in which case such representations and warranties are true and correct as of such earlier date); and
(c)    no Default has occurred and is continuing.
SECTION 3.    Effectiveness.  This Amendment shall become effective on the date (the “Amendment Effective Date”) on which the following conditions shall be satisfied:
(a) The Administrative Agent shall have received duly executed counterparts hereof which, when taken together, bear the authorized signatures of the Company, the Administrative Agent and the Required Lenders.
(b) The Administrative Agent shall have received a certificate of a Responsible Officer of the Company dated the Amendment Effective Date and stating that on the Amendment Effective Date the representations and warranties set forth in Section 2 are true and correct.
(c) The Administrative Agent shall have received all fees and other amounts due and payable on or prior to the Amendment Effective Date and, to the extent invoiced, reimbursement or payment of all out-of-pocket expenses required to be reimbursed or paid by the Company under the Credit Agreement.
(d)  The New Notes shall have been issued in an aggregate principal amount not less than $750,000,000.
(e)  The Company shall have deposited in the Senior Notes Account an amount sufficient to pay all principal, interest, makewhole payments and other amounts the Company estimates will become due in respect of the Senior Notes prior to the repurchase or redemption thereof (assuming that all amounts becoming due are paid as and when they become due).
SECTION 4.    Amendment Fee.  The Company agrees to pay on the Amendment Effective Date to the Administrative Agent, for the account of each Lender 

that executes and delivers this Amendment at or prior to 3:00 p.m., New York City time, on June 13, 2012, an amendment fee (the “Amendment Fee”) in an amount equal to 0.025% of such Lender’s Commitment on such date.  All fees shall be payable in immediately available funds and shall not be refundable.
SECTION 5.    Refinancing Indebtedness.  The New Notes shall for all purposes of the Credit Agreement constitute “Refinancing Indebtedness” for the Senior Notes, including, without limitation, for purposes of permitting the refinancing, prepayment or redemption of the Senior Notes pursuant to Section 6.08(b)(iii), notwithstanding anything therein to the contrary.
SECTION 6.    Effect of Amendment.  Except as expressly set forth herein, this Amendment shall not by implication or otherwise limit, impair, constitute a waiver of, or otherwise affect the rights and remedies of the Administrative Agent or the Lenders under the Credit Agreement or any other Loan Document, and shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Loan Document, all of which are ratified and affirmed in all respects and shall continue in full force and effect.  Nothing herein shall be deemed to entitle the Company to a consent to, or a waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Loan Document in similar or different circumstances.  This Amendment shall constitute a “Loan Document” for all purposes of the Credit Agreement and the other Loan Documents.  
SECTION 7.    Applicable Law.  THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE CONFLICT OF LAWS PRINCIPLES THEREOF.
SECTION 8.    Counterparts.  This Amendment may be executed in any number of counterparts, each of which shall constitute an original but all of which, when taken together, shall constitute but one contract.  Delivery of an executed counterpart of a signature page of this Amendment by telecopy shall be effective as delivery of a manually executed counterpart of this Amendment.
SECTION 9.    Headings. The headings of this Amendment are for purposes of reference only and shall not limit or otherwise affect the meaning hereof.
[signature pages follow]

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their respective authorized officers as of the date first above written.
	
					
	TYSON FOODS, INC.,

	 
	 
	 
	 
	 

	by:
	/s/ Rodney Tademy
	 

	 
	Name:
	Rodney Tademy
	 

	 
	Title:
	Asst. Treasurer
	 

	 
	 
	 
	 
	 

	
					
	JPMORGAN CHASE BANK, N.A.,
individually and as Administrative Agent,

	 
	 
	 
	 
	 

	by:
	/s/ Tony Yung
	 

	 
	Name:
	Tony Yung
	 

	 
	Title:
	Executive Director
	 

	 
	 
	 
	 
	 

	
					
	SIGNATURE PAGE TO AMENDMENT NO. 2 TO THE TYSON FOODS, INC. CREDIT AGREEMENT

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	
					
	LENDER:
	CoBank, ACB
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	by:
	/s/ James Matzat
	 

	 
	 
	Name:
	James Matzat
	 

	 
	 
	Title:
	Vice President
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	by:
	 
	*

	 
	 
	Name:
	 
	 

	 
	 
	Title:
	 
	 

	 
	 
	 
	 
	 

	
			
	 
	 
	 

	 
	* For Lenders requiring a second signature line.

	
					
	SIGNATURE PAGE TO AMENDMENT NO. 2 TO THE TYSON FOODS, INC. CREDIT AGREEMENT

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	
					
	LENDER:
	Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A. "Rabobank Nederland", New York Branch
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	by:
	/s/ Stephen Gilbert
	 

	 
	 
	Name:
	Stephen Gilbert
	 

	 
	 
	Title:
	Vice President
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	by:
	/s/ Brett Delfino
	*

	 
	 
	Name:
	Brett Delfino
	 

	 
	 
	Title:
	Executive Director
	 

	 
	 
	 
	 
	 

	
			
	 
	 
	 

	 
	* For Lenders requiring a second signature line.

	
					
	SIGNATURE PAGE TO AMENDMENT NO. 2 TO THE TYSON FOODS, INC. CREDIT AGREEMENT

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	
					
	LENDER:
	BARCLAYS BANK PLC
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	by:
	/s/ Noam Azachi
	 

	 
	 
	Name:
	Noam Azachi
	 

	 
	 
	Title:
	Assistant Vice President
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	by:
	 
	*

	 
	 
	Name:
	 
	 

	 
	 
	Title:
	 
	 

	 
	 
	 
	 
	 

	
			
	 
	 
	 

	 
	* For Lenders requiring a second signature line.

	
					
	SIGNATURE PAGE TO AMENDMENT DATED AS OF JUNE [ ], 2012 TO THE TYSON FOODS, INC. CREDIT AGREEMENT

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	
					
	LENDER:
	BANK OF AMERICA, N.A.
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	by:
	/s/ William F. Sweeney
	 

	 
	 
	Name:
	William F. Sweeney
	 

	 
	 
	Title:
	Managing Director
	 

	 
	 
	 
	 
	 

	
					
	SIGNATURE PAGE TO AMENDMENT NO. 2 TO THE TYSON FOODS, INC. CREDIT AGREEMENT

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	
					
	LENDER:
	FARM CREDIT BANK OF TEXAS
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	by:
	/s/ Chris M. Levine
	 

	 
	 
	Name:
	Chris M. Levine
	 

	 
	 
	Title:
	Vice President
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	by:
	 
	*

	 
	 
	Name:
	 
	 

	 
	 
	Title:
	 
	 

	 
	 
	 
	 
	 

	
			
	 
	 
	 

	 
	* For Lenders requiring a second signature line.

	
					
	SIGNATURE PAGE TO AMENDMENT DATED AS OF JUNE [ ], 2012 TO THE TYSON FOODS, INC. CREDIT AGREEMENT

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	
					
	LENDER:
	ROYAL BANK OF CANADA
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	by:
	/s/ John Flores
	 

	 
	 
	Name:
	John Flores
	 

	 
	 
	Title:
	Authorized Signatory
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	by:
	 
	*

	 
	 
	Name:
	 
	 

	 
	 
	Title:
	 
	 

	 
	 
	 
	 
	 

	
			
	 
	 
	 

	 
	* For Lenders requiring a second signature line.

	
					
	SIGNATURE PAGE TO AMENDMENT NO. 2 TO THE TYSON FOODS, INC. CREDIT AGREEMENT

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	
					
	LENDER:
	U.S. Bank of National Association
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	by:
	/s/ James D. Pegues
	 

	 
	 
	Name:
	James D. Pegues
	 

	 
	 
	Title:
	Vice President
	 

	 
	 
	 
	 
	 

	
					
	SIGNATURE PAGE TO AMENDMENT NO. 2 TO THE TYSON FOODS, INC. CREDIT AGREEMENT

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	
					
	LENDER:
	SunTrust Bank
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	by:
	/s/ Tesha Winslow
	 

	 
	 
	Name:
	Tesha Winslow
	 

	 
	 
	Title:
	Vice President
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	by:
	 
	*

	 
	 
	Name:
	 
	 

	 
	 
	Title:
	 
	 

	 
	 
	 
	 
	 

	
			
	 
	 
	 

	 
	* For Lenders requiring a second signature line.

	
					
	SIGNATURE PAGE TO AMENDMENT NO. 2 TO THE TYSON FOODS, INC. CREDIT AGREEMENT

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	
					
	LENDER:
	Wells Fargo Bank, N.A.
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	by:
	/s/ Gregory Campbell
	 

	 
	 
	Name:
	Gregory Campbell
	 

	 
	 
	Title:
	Director
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	by:
	 
	*

	 
	 
	Name:
	 
	 

	 
	 
	Title:
	 
	 

	 
	 
	 
	 
	 

	
			
	 
	 
	 

	 
	* For Lenders requiring a second signature line.

	
					
	SIGNATURE PAGE TO AMENDMENT NO. 2 TO THE TYSON FOODS, INC. CREDIT AGREEMENT

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	
					
	LENDER:
	Goldman Sachs Bank USA
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	by:
	/s/ Michelle Latzoni
	 

	 
	 
	Name:
	Michelle Latzoni
	 

	 
	 
	Title:
	Authorized Signatory
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	by:
	 
	*

	 
	 
	Name:
	 
	 

	 
	 
	Title:
	 
	 

	 
	 
	 
	 
	 

	
			
	 
	 
	 

	 
	* For Lenders requiring a second signature line.

	
					
	SIGNATURE PAGE TO AMENDMENT NO. 2 TO THE TYSON FOODS, INC. CREDIT AGREEMENT

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	
					
	LENDER:
	HSBC Bank USA
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	by:
	/s/ Santiago Riviere
	 

	 
	 
	Name:
	Santiago Riviere
	 

	 
	 
	Title:
	Vice President
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	by:
	 
	*

	 
	 
	Name:
	 
	 

	 
	 
	Title:
	 
	 

	 
	 
	 
	 
	 

	
			
	 
	 
	 

	 
	* For Lenders requiring a second signature line.

	
					
	SIGNATURE PAGE TO AMENDMENT NO. 2 TO THE TYSON FOODS, INC. CREDIT AGREEMENT

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	
					
	LENDER:
	Mizuho Corporate Bank, Ltd.
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	by:
	/s/ Noel Purcell
	 

	 
	 
	Name:
	Noel Purcell
	 

	 
	 
	Title:
	Senior Vice President
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	by:
	 
	*

	 
	 
	Name:
	 
	 

	 
	 
	Title:
	 
	 

	 
	 
	 
	 
	 

	
			
	 
	 
	 

	 
	* For Lenders requiring a second signature line.

	
					
	SIGNATURE PAGE TO AMENDMENT NO. 2 TO THE TYSON FOODS, INC. CREDIT AGREEMENT

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	
					
	LENDER:
	Morgan Stanley Bank, N.A.
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	by:
	/s/ Scott Taylor
	 

	 
	 
	Name:
	Scott Taylor
	 

	 
	 
	Title:
	Authorized Signatory
	 

	 
	 
	 
	 
	 

	
					
	SIGNATURE PAGE TO AMENDMENT NO. 2 TO THE TYSON FOODS, INC. CREDIT AGREEMENT

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	
					
	LENDER:
	Regions Bank
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	by:
	/s/ David Cravens
	 

	 
	 
	Name:
	David Cravens
	 

	 
	 
	Title:
	Exec. Vice President
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	by:
	 
	*

	 
	 
	Name:
	 
	 

	 
	 
	Title:
	 
	 

	 
	 
	 
	 
	 

	
			
	 
	 
	 

	 
	* For Lenders requiring a second signature line.

	
					
	SIGNATURE PAGE TO AMENDMENT NO. 2 TO THE TYSON FOODS, INC. CREDIT AGREEMENT

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	
					
	LENDER:
	Banco Santander S.A., New York Branch
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	by:
	/s/ Rita Walz-Cuccioli
	 

	 
	 
	Name:
	Rita Walz-Cuccioli
	 

	 
	 
	Title:
	Executive Director
	 

	 
	 
	 
	Banco Santander S.A., New York Branch

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	by:
	/s/ Terence Corcoran
	*

	 
	 
	Name:
	Terence Corcoran
	 

	 
	 
	Title:
	Senior Vice President
	 

	 
	 
	 
	Banco Santander S.A., New York Branch

	
			
	 
	 
	 

	 
	* For Lenders requiring a second signature line.

	
					
	SIGNATURE PAGE TO AMENDMENT NO. 2 TO THE TYSON FOODS, INC. CREDIT AGREEMENT

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	
					
	LENDER:
	AGFIRST FARM CREDIT BANK
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	by:
	/s/ Steven J. O'Shea
	 

	 
	 
	Name:
	Steven J. O'Shea
	 

	 
	 
	Title:
	Vice President
	 

	 
	 
	 
	 
	 

	
					
	SIGNATURE PAGE TO AMENDMENT NO. 2 TO THE TYSON FOODS, INC. CREDIT AGREEMENT

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	
					
	LENDER:
	Farm Credit Services of America, PCA
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	by:
	/s/ John Zhang
	 

	 
	 
	Name:
	John Zhang
	 

	 
	 
	Title:
	Vice President
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	by:
	 
	*

	 
	 
	Name:
	 
	 

	 
	 
	Title:
	 
	 

	 
	 
	 
	 
	 

	
			
	 
	 
	 

	 
	* For Lenders requiring a second signature line.

	
					
	SIGNATURE PAGE TO AMENDMENT NO. 2 TO THE TYSON FOODS, INC. CREDIT AGREEMENT

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	
					
	LENDER:
	Comerica Bank
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	by:
	/s/ Robert L Nelson
	 

	 
	 
	Name:
	Robert L Nelson
	 

	 
	 
	Title:
	Vice President
	 

	 
	 
	 
	 
	 

	
					
	SIGNATURE PAGE TO AMENDMENT NO. 2 TO THE TYSON FOODS, INC. CREDIT AGREEMENT

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	
					
	LENDER:
	ING Capital LLC
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	by:
	/s/ Daniel W. Lamprecht
	 

	 
	 
	Name:
	Daniel W. Lamprecht
	 

	 
	 
	Title:
	Managing Director
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	by:
	 
	*

	 
	 
	Name:
	 
	 

	 
	 
	Title:
	 
	 

	 
	 
	 
	 
	 

	
			
	 
	 
	 

	 
	* For Lenders requiring a second signature line.

	
					
	SIGNATURE PAGE TO AMENDMENT NO. 2 TO THE TYSON FOODS, INC. CREDIT AGREEMENT

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	
					
	LENDER:
	SIEMENS FINANCIAL SERVICES
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	by:
	/s/ Maria Levy
	 

	 
	 
	Name:
	Maria Levy
	 

	 
	 
	Title:
	VP
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	by:
	/s/ Michael L. Zion
	*

	 
	 
	Name:
	Michael L. Zion
	 

	 
	 
	Title:
	Portfolio Manager
	 

	 
	 
	 
	 
	 

	
			
	 
	 
	 

	 
	* For Lenders requiring a second signature line.

	
					
	SIGNATURE PAGE TO AMENDMENT NO. 2 TO THE TYSON FOODS, INC. CREDIT AGREEMENT

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	
					
	LENDER:
	American AgCredit, PCA, successor in interest to Farm Credit Services of the Mountain Plains, PCA
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	by:
	/s/ Daryl Nielsen
	 

	 
	 
	Name:
	Daryl Nielsen
	 

	 
	 
	Title:
	Vice President
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	by:
	 
	*

	 
	 
	Name:
	 
	 

	 
	 
	Title:
	 
	 

	 
	 
	 
	 
	 

	
			
	 
	 
	 

	 
	* For Lenders requiring a second signature line.

	
					
	SIGNATURE PAGE TO AMENDMENT NO. 2 TO THE TYSON FOODS, INC. CREDIT AGREEMENT

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	
					
	LENDER:
	American AgCredit, FLCA, a voting participant
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	by:
	/s/ Daryl Nielsen
	 

	 
	 
	Name:
	Daryl Nielsen
	 

	 
	 
	Title:
	Vice President
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	by:
	 
	*

	 
	 
	Name:
	 
	 

	 
	 
	Title:
	 
	 

	 
	 
	 
	 
	 

	
			
	 
	 
	 

	 
	* For Lenders requiring a second signature line.

	
					
	SIGNATURE PAGE TO AMENDMENT NO. 2 TO THE TYSON FOODS, INC. CREDIT AGREEMENT

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	
					
	LENDER:
	Arvest Bank
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	by:
	/s/ Eric Lesh
	 

	 
	 
	Name:
	Eric Lesh
	 

	 
	 
	Title:
	Vice President
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	by:
	 
	*

	 
	 
	Name:
	 
	 

	 
	 
	Title:
	 
	 

	 
	 
	 
	 
	 

	
			
	 
	 
	 

	 
	* For Lenders requiring a second signature line.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00206-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00206-of-00352.parquet"}]]