Document:

Exhibit 10.20

AMENDMENT
NO. 3 TO AMENDED AND RESTATED CREDIT AGREEMENT

This Amendment
(this “Amendment”) is entered into as of December 31, 2001, by and
among The Navigators Group, Inc., a Delaware corporation (the “Borrower”),
Bank One, NA (formerly known as The First National Bank of Chicago),
individually and as agent (“Agent”), and the other financial
institutions signatory hereto.

RECITALS

A.            The
Borrower, the Agent and the Lenders are party to that certain Amended and
Restated Credit Agreement dated as of December 21, 1998, as amended by
Amendment No. 1 to Amended and Restated Credit Agreement dated as of
March 28, 2000 and Amendment No. 2 to Amended and Restated Credit
Agreement dated as of September 20, 2000 (as so amended, the “Credit
Agreement”).  Unless otherwise
specified herein, capitalized terms used in this Amendment shall have the
meanings ascribed to them by the Credit Agreement.

B.            The
Borrower, the Agent and the undersigned Lenders wish to amend the Credit
Agreement on the terms and conditions set forth below.

NOW, THEREFORE, in
consideration of the mutual execution hereof and other good and valuable
consideration, the parties hereto agree as follows:

1.             Amendments to Credit Agreement. 
Upon the “Effective Date” (as defined below), the Credit Agreement shall
be amended as follows:

(a)           Article I of the Credit Agreement
shall be amended by adding the following new definition thereto in alphabetical
order:

“Deferred Policy Acquisition Costs” means, at any
time, the total deferred policy acquisition costs of the Borrower and its
Consolidated Subsidiaries calculated on a consolidated basis as of such time.

(b)           The definition of “Consolidated
Tangible Net Worth” in Article I of the Credit Agreement shall be amended and
restated in its entirety to read as follows:

“Consolidated Tangible Net Worth” means the excess of
(a) the sum of (i) Consolidated Total Tangible Assets plus (ii) 50%
of Deferred Policy Acquisition Costs over (b) Consolidated Total
Liabilities, excluding, however, for the purposes of Section 7.24.1,
the effect of any unrealized gain or loss reported under Statement of Financial
Accounting Standards No. 115.

2.             Representations and Warranties of the
Borrower.  The Borrower represents and warrants that:

 

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(a)           The execution, delivery and
performance by the Borrower of this Amendment have been duly authorized by all
necessary corporate action and that this Amendment is a legal, valid and
binding obligation of the Borrower enforceable against the Borrower in
accordance with its terms, except as the enforcement thereof may be subject
to  the effect of any applicable
bankruptcy, insolvency, reorganization, moratorium or similar law affecting
creditors’ rights generally;

(b)           Each of the representations and
warranties contained in the Credit Agreement is true and correct in all
material respects on and as of the date hereof as if made on the date hereof,
except to the extent any such representation or warranty is stated to relate
solely to an earlier date, in which case such representation or warranty shall
have been true and correct on and as of such earlier date;

(c)           After giving effect to this
Amendment, no Default or Unmatured Default has occurred and is continuing.

3.             Effective Date. 
Section 1 of this Amendment shall become effective upon
(a) the execution and delivery hereof by the Borrower, the Agent and all
the Lenders, and (b) receipt by the Agent for the benefit of the Lenders
of an amendment fee in the amount of $37,000 (the “Amendment Fee”).

4.             Reference to and Effect Upon the Credit
Agreement.

(a)           Except as specifically amended above,
the Credit Agreement and the other Loan Documents shall remain in full force
and effect and are hereby ratified and confirmed.

(b)           The execution, delivery and
effectiveness of this Amendment shall not operate as a waiver of any right,
power or remedy of the Agent or any Lender under the Credit Agreement or any
Loan Document, nor constitute a waiver of any provision of the Credit Agreement
or any Loan Document, except as specifically set forth herein.  Upon the effectiveness of this Amendment,
each reference in the Credit Agreement to “this Agreement,” “hereunder,”
“hereof,” “herein” or words of similar import shall mean and be a reference to
the Credit Agreement as amended hereby.

5.             Costs and Expenses.

(a)           The Borrower hereby affirms its
obligation under Section 10.7 of the Credit Agreement to reimburse the Agent
for all reasonable costs, internal charges and out-of-pocket expenses paid or
incurred by the Agent in connection with the preparation, negotiation,
execution and delivery of this Amendment, including but not limited to the
attorneys’ fees and time charges of attorneys for the Agent with respect
thereto.

(b)           The Borrower hereby agrees that on
the Effective Date, the Borrower shall pay the Arranger, the Agent and the
Lenders the Amendment Fee, which Amendment fee shall be deemed fully earned and
non-refundable on the date hereof.

 

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6.             GOVERNING LAW. 
THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE
INTERNAL LAWS (AS OPPOSED TO CONFLICTS OF LAWS PROVISIONS) OF THE STATE OF
ILLINOIS BUT GIVING EFFECT TO FEDERAL LAWS APPLICABLE TO NATIONAL BANKS.

7.             Headings.  Section
headings in this Amendment are included herein for convenience of reference
only and shall not constitute a part of this Amendment for any other purposes.

8.             Counterparts. 
This Amendment may be executed in any number of counterparts, each of
which when so executed shall be deemed an original but all such counterparts
shall constitute one and the same instrument.

[signature pages follow]

 

 

 

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                      SEVENTH AMENDMENT OF CREDIT AGREEMENT

         THIS SEVENTH AMENDMENT OF CREDIT AGREEMENT (this "AMENDMENT") is
entered into, effective as of March 25, 2002, between PROTECTION ONE ALARM
MONITORING, INC., a Delaware corporation ("BORROWER"), each of the Persons which
is a signatory to this Amendment (collectively, "LENDERS"), and WESTAR
INDUSTRIES, INC., as Administrative Agent for the Lenders (in such capacity,
together with its successors in such capacity, "ADMINISTRATIVE AGENT").

                                 R E C I T A L S

         A.       Borrower, Lenders and Administrative Agent entered into the
Credit Agreement dated as of December 21, 1998 (as renewed, extended, modified,
and amended from time to time, the "CREDIT AGREEMENT"; capitalized terms used
herein shall, unless otherwise indicated, have the respective meanings set forth
in the Credit Agreement), providing for a revolving credit facility in the
original maximum principal amount of $500,000,000.

         B.       Pursuant to a letter agreement dated as of September 30, 1999,
Borrower reduced the Total Commitment to $250,000,000.

         C.       The Lenders and the Administrative Agent entered into that
certain Assignment and Acceptance dated December 17, 1999 wherein the
Administrative Agent and the Lenders assigned all of their rights and
obligations under the Credit Agreement to Westar Industries, Inc. (f/k/a Westar
Capital, Inc.).

         D.       Borrower, Lender and Administrative Agent entered into a
Second Amendment of Credit Agreement effective as of February 29, 2000, a Third
Amendment of Credit Agreement effective as of January 2, 2001, a Fourth
Amendment of Credit Agreement effective as of March 2, 2001, a Fifth Amendment
to Credit Agreement effective as of June 30, 2001, and a Sixth Amendment of
Credit Agreement effective as of November 1, 2001, pursuant to which certain
provisions of the Credit Agreement were amended.

         E.       Borrower, Lender, and Administrative Agent desire to further
modify certain provisions contained in the Credit Agreement to increase the
amount of the Committed Sum (as defined herein), subject to the terms and
conditions set forth herein.

         NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, Borrower, Lender, and
Administrative Agent agree as follows:

         1.       AMENDMENTS TO THE CREDIT AGREEMENT. SCHEDULE 2.1 is hereby
deleted and replaced with Schedule 2.1 attached hereto.

         2.       AMENDMENT OF CREDIT AGREEMENT AND OTHER LOAN DOCUMENTS. All
references in the Loan Documents to the Credit Agreement shall henceforth
include references to the Credit Agreement as modified and amended by this
Amendment, and as

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may, from time to time, be further modified, amended, restated, extended,
renewed, and/or increased.

         3.       RATIFICATIONS. Borrower (a) ratifies and confirms all
provisions of the Loan Documents as amended by this Amendment, (b) ratifies and
confirms that all guaranties, assurances, and Liens, if any, granted, conveyed,
or assigned to the Credit Parties under the Loan Documents are not released,
reduced, or otherwise adversely affected by this Amendment and continue to
guarantee, assure, and secure full payment and performance of the present and
future Obligation, and (c) agrees to perform such acts and duly authorize,
execute, acknowledge, deliver, file, and record such additional documents, and
certificates as the Credit Parties may reasonably request in order to create,
perfect, preserve, and protect those guaranties, assurances, and Liens.

         4.       REPRESENTATIONS. Borrower represents and warrants to the
Credit Parties that as of the date of this Amendment: (a) this Amendment has
been duly authorized, executed, and delivered by Borrower and each of the other
Obligors that are parties to this Amendment; (b) no action of, or filing with,
any Governmental Authority is required to authorize, or is otherwise required in
connection with, the execution, delivery, and performance by Borrower or any
other Obligor of this Amendment; (c) the Loan Documents, as amended by this
Amendment, are valid and binding upon Borrower and the other Obligors and are
enforceable against Borrower and the other Obligors in accordance with their
respective terms, except as limited by Debtor Relief Laws and general principles
of equity; (d) the execution, delivery, and performance by Borrower and the
other Obligors of this Amendment do not require the consent of any other Person
and do not and will not constitute a violation of any Governmental Requirement,
order of any Governmental Authority, or material agreements to which Borrower or
any other Obligor is a party thereto or by which Borrower or any other Obligor
is bound; (e) all representations and warranties in the Loan Documents are true
and correct in all material respects on and as of the date of this Amendment,
except to the extent that (i) any of them speak to a different specific date, or
(ii) the facts on which any of them were based have been changed by transactions
contemplated or permitted by the Credit Agreement; and (f) both before and after
giving effect to this Amendment, no Potential Default or Default exists.

         5.       CONDITIONS. This Amendment shall not be effective unless and
until:

         (a)      this Amendment has been executed by Borrower, the other
Obligors, Administrative Agent, and the Required Lenders;

         (b)      Borrower shall have delivered to Administrative Agent such
documents satisfactory to Administrative Agent as it may request evidencing the
authorization and execution of this Agreement, and any other documents executed
and delivered in connection herewith (collectively, the "AMENDMENT DOCUMENTS").

         6.       CONTINUED EFFECT. Except to the extent amended hereby or by
any documents executed in connection herewith, all terms, provisions, and
conditions of the Credit Agreement and the other Loan Documents, and all
documents executed in

                                       2
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connection therewith, shall continue in full force and effect and shall remain
enforceable and binding in accordance with their respective terms.

         7.       MISCELLANEOUS. Unless stated otherwise (a) the singular number
includes the plural and vice versa and words of any gender include each other
gender, in each case, as appropriate, (b) headings and captions may not be
construed in interpreting provisions, (c) this Amendment shall be construed and
its performance enforced, under Texas law, (d) if any part of this Amendment is
for any reason found to be unenforceable, all other portions of it nevertheless
remain enforceable, and (e) this Amendment may be executed in any number of
counterparts with the same effect as if all signatories had signed the same
document, and all of those counterparts must be construed together to constitute
the same document.

         8.       PARTIES. This Amendment binds and inures to Borrower and the
Credit Parties and their respective successors and permitted assigns.

         9.       ENTIRETIES. THE CREDIT AGREEMENT AND THE OTHER LOAN DOCUMENTS,
AS AMENDED BY THIS AMENDMENT AND THE OTHER AMENDMENT DOCUMENTS, REPRESENT THE
FINAL AGREEMENT BETWEEN THE PARTIES ABOUT THE SUBJECT MATTER OF THE CREDIT
AGREEMENT AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR
SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL
AGREEMENTS BETWEEN THE PARTIES.

            [THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK]

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                     SIGNATURE PAGE TO SEVENTH AMENDMENT OF
                             CREDIT AGREEMENT AMONG
               PROTECTION ONE ALARM MONITORING, INC., AS BORROWER,
                WESTAR INDUSTRIES, INC., AS ADMINISTRATIVE AGENT
                                       AND
                            THE LENDERS NAMED HEREIN

         EXECUTED on and effective as of the date first above written.

   PROTECTION ONE ALARM MONITORING, INC., a Delaware corporation, as Borrower

                                    By:     /s/ Darius Nevin
                                            -------------------
                                            Name: Darius Nevin
                                            Title: Executive Vice President and
                                                      Chief Financial Officer

<Page>

                     SIGNATURE PAGE TO SEVENTH AMENDMENT OF
                             CREDIT AGREEMENT AMONG
               PROTECTION ONE ALARM MONITORING, INC., AS BORROWER,
                WESTAR INDUSTRIES, INC., AS ADMINISTRATIVE AGENT,
                                       AND
                            THE LENDERS NAMED HEREIN

         EXECUTED on and effective as of the date first above written.

                              WESTAR INDUSTRIES, INC., as Administrative Agent
                              and a Lender

                              By:     /s/ Paul R. Geist
                                      --------------------
                                      Name: Paul R. Geist
                                      Title: President

<Page>

         To induce the Credit Parties to enter into this Amendment, each of the
undersigned (a) consents and agrees to the Amendment Documents' execution and
delivery, (b) ratifies and confirms that all guaranties, assurances, and Liens,
if any, granted, conveyed, or assigned to the Credit Parties under the Loan
Documents are not released, diminished, impaired, reduced, or otherwise
adversely affected by the Amendment Documents and continue to guarantee, assure,
and secure the full payment and performance of all present and future
Obligations (except to the extent specifically limited by the terms of such
guaranties, assurances, or Liens), (c) agrees to perform such acts and duly
authorize, execute, acknowledge, deliver, file, and record such additional
guaranties, assignments, security agreements, deeds of trust, mortgages, and
other agreements, documents, instruments, and certificates as the Credit Parties
may reasonably deem necessary or appropriate in order to create, perfect,
preserve, and protect those guaranties, assurances, and Liens, and (d) waives
notice of acceptance of this consent and agreement, which consent and agreement
binds the undersigned and its successors and permitted assigns and inures to the
Credit Parties and their respective successors and permitted assigns.

         EXECUTED on and effective as of the date first above written.

                                   PROTECTION ONE, INC., a Delaware corporation

                                   By:      /s/ Darius Nevin
                                            --------------------
                                            Name: Darius Nevin
                                            Title: Executive Vice President and
                                                   Chief Financial Officer

                                   NETWORK MULTI-FAMILY SECURITY CORPORATION,
                                   a Delaware corporation

                                   By:      /s/ Anthony D. Somma
                                            -----------------------
                                            Name: Anthony D. Somma
                                            Title: Assistant Treasurer

<Page>

                                  SCHEDULE 2.1

             PARTIES, ADDRESSES, COMMITMENTS, AND WIRING INFORMATION

================================================================ =============
                           BORROWER
================================================================ =============
Protection One Alarm Monitoring, Inc.
818 South Kansas Avenue
Topeka, KS  66612
Attention: Tony Somma
Telecopy No. (785) 575-6511

================================================================ =============
                     ADMINISTRATIVE AGENT
================================================================ =============
Westar Industries, Inc.
818 South Kansas Avenue
Topeka, KS  66612
Attention: Paul R. Geist
Telecopy No. (785) 575-1774

Wiring Instructions:

Bank of America, Dallas, Texas
ABA # 111000012
Account Number: 3750912584
Reference: Protection One Alarm Monitoring, Inc.
Attention: Lynn Cook

================================================================ =============

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=========================== ======================   =========================
  LENDERS                           COMMITTED SUM         PRO RATA PART OF THE
                                                                COMMITMENTS
=========================== ======================   =========================
Westar Industries, Inc.               $180,000,000(1)                      100%
818 South Kansas Avenue
Topeka, KS  66612
Attn: Paul R. Geist
Telecopy No. (785) 575-1774

Wiring Instructions:

Bank of America, Dallas, Texas
ABA # 111000012
Account No.: 3750912584
Reference: Protection One Alarm Monitoring, Inc.
Attention: Lynn Cook
-------------------------------------------------- ---------------------------

----------------------
(1)Including increase previously requested by Borrower and apporved by
Administrative Agent pursuant to Section 2.5.

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