Document:

exhibit10pnt1.htm

     

     

     

    
      Exhibit
10.1

       

       

    

    SECOND
AMENDMENT

    TO
SECOND AMENDED AND RESTATED CREDIT AGREEMENT

    

     

    This
SECOND AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT (this "Amendment") dated as of May 1,
2009, is among COMSTOCK RESOURCES, INC. (the "Borrower"), the banks named on
the signature pages hereto (together with their respective successors and
assigns in such capacity, each as a "Lender"), and BANK OF
MONTREAL, as administrative agent for the Lenders (in such capacity, together
with its successors and assigns, the "Administrative
Agent").

     

    PRELIMINARY
STATEMENT

     

    A.           The
Borrower, the Administrative Agent, the Lenders and certain other parties have
entered into that certain Second Amended and Restated Credit Agreement dated as
of December 15, 2006, as amended by that certain First Amendment to Second
Amended and Restated Credit Agreement dated as of April 30, 2008 (as so amended
and as further amended, restated, modified or supplemented from time to time
until the date hereof, the "Credit
Agreement").

     

    B.           Subject
to the terms and conditions of this Amendment, the Lenders, the Administrative
Agent, the Issuing Bank and the Borrower have agreed to enter into this
Amendment in order to effectuate such amendments and modifications to the Credit
Agreement and redetermine the Borrowing Base, all as set forth
herein.

     

    NOW
THEREFORE, in consideration of the foregoing and the mutual agreements set forth
herein, the parties agree as follows:

     

    Section
1. 
Definitions.  Unless
otherwise defined in this Amendment, each capitalized term used in this
Amendment has the meaning assigned to such term in the Credit
Agreement.

     

    Section
2. 
Amendment of
Credit Agreement.

     

                 
(a) 
Section
1.1 of the Credit Agreement is hereby amended by amending and restating the
definition of "Base Rate" to provide:

     

    "Base Rate" means, on
any date and with respect to all Base Rate Loans, a fluctuating rate of interest
per annum equal to the greatest of (a) the rate of interest most recently
announced by Bank of Montreal at its Chicago, Illinois office as its base rate
for dollar advances made in the United States, (b) the Federal Funds Rate most
recently determined by the Administrative Agent plus 1⁄2% (0.5%) per
annum and (c) the rate of interest per annum equal to the offered quotation
appearing on Telerate Page 3750 at approximately 11:00 a.m. (London time)
for a one-month interest period on such day (or if such day is not a Business
Day, the immediately preceding Business Day) (or if such Telerate Page shall not
be available, the rate per annum determined by the Administrative Agent by
reference to the British Bankers' Association Interest Settlement Rate for
deposits in U.S. dollars as set forth by any service which has been nominated by
the British Bankers' Association as an authorized information vendor for the
purpose of displaying such rates) plus
1.5%.  The Base Rate is not necessarily intended to be the lowest rate
of interest determined by Bank of Montreal or any Lender in connection with
extensions of credit.  Changes in the rate of interest on that portion
of any Loans maintained as Base Rate Loans will take effect simultaneously with
each change in the Base Rate.  The Administrative Agent will give
notice to the Borrower of changes in the Base Rate promptly upon receipt of
notice of any such change from Bank of Montreal."

     

     

     

     

     

     

     

     

     

     

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

       

       

                    (b)  The
pricing grid in the definition of "Base Rate Spread" in Section 1.1 of the
Credit Agreement is hereby deleted in its entirety and replaced with the
following table:

    

     

    
      
        
          
            
              
                
                  
                    	
                            Percentage of

                            Borrowing Base

                            Usage

                          	
                            Base Rate Spread

                          
	
                            > 90%

                          	
                            1.250%

                          
	
                            >75% but <90%

                          	
                            1.000%

                          
	
                            >50% but <75%

                          	
                            0.750%

                          
	
                            <50%

                          	
                            0.500%

                          

                  

                

              

            

          

        

      

    

    

     

                 
(c) The
pricing grid in the definition of "Commitment Fee Rate" in Section 1.1 of
the Credit Agreement is hereby deleted in its entirety and replaced with the
following table:

     

    
      
        
          
            	
                    Percentage of

                    Borrowing Base

                    Usage

                  	
                    Commitment

                    Fee Rate

                  
	
                    > 90%

                  	
                    0.
      500%

                  
	
                    >75% but <90%

                  	
                    0.
      500%

                  
	
                    >50% but <75%

                  	
                    0.
      500%

                  
	
                    <50%

                  	
                    0.500%

                  

          

        

      

    

    

     

                 
(d) The
pricing grid in the definition of "LIBOR Spread" in Section 1.1 of the
Credit Agreement is hereby deleted in its entirety and replaced with the
following table:

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

     

     

    
      
        
          
            	
                    Percentage of

                    Borrowing Base

                    Usage

                  	
                    LIBOR Spread

                  
	
                    > 90%

                  	
                    2.750%

                  
	
                    >75% but <90%

                  	
                    2.500%

                  
	
                    >50% but <75%

                  	
                    2.250%

                  
	
                    <50%

                  	
                    2.000%

                  

          

        

      

    

    

     

    Section
3. 
Redetermination
of Borrowing Base.

     

                
(a) 
The
Borrowing Base shall be decreased from $590,000,000 to $550,000,000 from and
after the Effective Date until the Borrowing Base shall be otherwise
redetermined in accordance with the Credit Agreement.

     

                
(b)    Both the
Borrower, on the one hand, and the Administrative Agent and the Lenders, on the
other hand, agree that the redetermination of the Borrowing Base pursuant to
clause (a) of this Section 3 constitutes the regularly scheduled Borrowing Base
redetermination for Spring 2009 (and shall not constitute a discretionary
redetermination of the Borrowing Base pursuant to Section 2.8 of the Credit
Agreement).

     

    Section
4.    Ratification.  The
Borrower hereby ratifies and confirms all of the Obligations under the Credit
Agreement (as amended hereby) and the other Loan Documents, and, in particular,
affirms that the terms of the Security Documents secure, and will continue to
secure, all Obligations, after giving effect to this Amendment.

     

    Section
5. 
Effectiveness.  This
Amendment shall become effective on the first date on which all of the
conditions set forth in this Section 5 are satisfied:

     

              (a)    The
Administrative Agent shall have received duly executed counterparts of this
Amendment from the Borrower, the Administrative Agent and Lenders comprising at
least the Majority Lenders; and

     

                
(b)     The
Borrower shall have confirmed and acknowledged to the Administrative Agent and
the Lenders, and by its execution and delivery of this Amendment, the Borrower
does hereby confirm and acknowledge to the Administrative Agent and the Lenders,
that (i) the execution, delivery and performance of this Amendment has been duly
authorized by all requisite corporate action on the part of the Borrower; (ii)
the Credit Agreement (as amended hereby) and each other Loan Document constitute
valid and legally binding agreements enforceable against the Borrower and each
other Loan Party that is a party thereto in accordance with their respective
terms, except as such enforceability may be limited by bankruptcy, insolvency,
reorganization, moratorium, fraudulent transfer or other similar laws relating
to or affecting the enforcement of creditors' rights generally and by general
principles of equity, (iii) the representations and warranties by the Borrower
and the other Loan Parties contained in the Credit Agreement and in the other
Loan Documents are true and correct on and as of the date hereof in all material
respects as though made as of the date hereof, and (iv) no Default or Event of
Default exists under the Credit Agreement or any of the other Loan
Documents.

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

     

     

    Section
6. 
Governing
Law.  This Amendment shall be governed by, and construed in
accordance with, the laws of the State of New York.

     

    Section
7.    Miscellaneous.  (a)
On and after the effectiveness of this Amendment, each reference in each Loan
Document to "this
Amendment", "this Note", "this Mortgage",
"hereunder",
"hereof" or
words of like import, referring to such Loan Document, and each reference in
each other Loan Document to "the Credit
Agreement", "the Notes", "the Mortgages",
"thereunder",
"thereof" or
words of like import referring to the Credit Agreement, the Notes, or the
Mortgage or any of them, shall mean and be a reference to such Loan Document,
the Credit Agreement, the Notes, the Mortgage or any of them, as amended or
otherwise modified by this Amendment; (b) the execution, delivery and
effectiveness of this Amendment shall not, except as expressly provided herein,
operate as a waiver of any default of the Borrower or any right, power or remedy
of the Administrative Agent or the Banks under any of the Loan Documents, nor
constitute a waiver of any provision of any of the Loan Documents and except as
otherwise modified by the terms hereof, the Credit Agreement and such other Loan
Documents shall remain in full force and effect; (c) this Amendment may be
executed in any number of counterparts and by different parties hereto in
separate counterparts, each of which when so executed shall be deemed to be an
original and all of which taken together shall constitute one and the same
agreement; and (d) delivery of an executed counterpart of a signature page
to this Amendment by telecopier shall be effective as delivery of a manually
executed counterpart of this Amendment.

     

    Section
8. 
Severability.  Any
provisions of this Amendment held by a court of competent jurisdiction to be
invalid or unenforceable shall not impair or invalidate the remainder of this
Amendment and the effect thereof shall be confined to the provisions so held to
be invalid.

     

    Section
9. 
Successors and
Assigns.  This Amendment is binding upon and shall inure to the
benefit of the Administrative Agent, the Issuing Bank, the Lenders and the
Borrower and their respective successors and assigns.

     

    Section
10.   Counterparts.  This
Amendment may be executed in any number of counterparts, all of which taken
together shall constitute one agreement, and any of the parties hereto may
execute this Amendment by signing any such counterpart.

     

    Section
11.  Headings.  The
headings, captions and arrangements used in this Amendment are for convenience
only and shall not affect the interpretation of this Amendment.

     

    Section
12.  Final
Agreement.  THE CREDIT AGREEMENT AND THE OTHER LOAN DOCUMENTS,
INCLUDING THIS AMENDMENT, REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND
MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL
AGREEMENTS OF THE PARTIES.  THERE ARE NO ORAL AGREEMENTS BETWEEN THE
PARTIES.

     

    [Signature
Pages Follow]

     

    

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    
 

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    IN
WITNESS WHEREOF, each of the parties hereto has caused this Second Amendment to
Second Amended and Restated Credit Agreement to be executed by its officer(s)
thereunto duly authorized as of the date first above written.

     

    BORROWER:

     

    

     

    COMSTOCK RESOURCES,
INC.,

    a Nevada
corporation

    

     

    By:  /s/ROLAND O.
BURNS

    Name: Roland
O. Burns

    Title: Senior
Vice President

     

     

     

                ADMINISTRATIVE AGENT
AND LENDERS:

     

     

                BANK OF
MONTREAL, as
Administrative Agent and a Lender

    

     

                By:  /s/JAMES V.
DUCOTE

                Name: James V.
Ducote

                Title: Director

     

    

     

                BMO CAPITAL MARKETS
FINANCING, INC., as Lender

     

                By:  /s/JAMES V.
DUCOTE  

                Name: James V.
Ducote                                      

                                     
Title: Director

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    
 

    
      
        
          
            	 
      	
                    S-1

                  	 
      

          

          

        

         

      

      
         

        
          

        

      

      
         

      

    

                BANK OF AMERICA,
N.A., as a Lender

     

     

                By:  /s/JEFFREY
RATHKAMP

                Name: Jeffrey
Rathkamp

                Title: Managing
Director

     

     

     

                COMERICA BANK,
as a Lender

    

     

                By:  /s/REBECCA L.
WILSON

                Name: Rebecca L.
Wilson

                Title:Assistant Vice
President

     

     

     

                FORTIS CAPITAL
CORP., as a Lender

    

     

                By:  /s/MICHELE
JONES            

                Name: Michele
Jones

                Title: Director

     

     

                By:  /s/DARRELL
HOLLEY

                Name: Darrell
Holley

                Title: Managing
Director

     

     

     

                UNION BANK OF
CALIFORNIA, N.A.,

                as a
Lender

    

     

                By:  /s/WHITNEY
RANDOLPH

                Name: Whitney
Randolph

                Title: Vice
President

     

     

     

                BANK OF
SCOTLAND, as a Lender

    

     

                By:  /s/

                Name:

                Title:

     

     

     

     

     

     

     

     

    
 

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

                CALYON NEW YORK BRANCH, as a
Lender

    
 

                By:

                Name:

                Title:

     

     

                By:

                Name:

                Title:

     

     

     

                THE ROYAL BANK OF
SCOTLAND plc,

                as a
Lender

     

     

                By:

                Name:

                Title:

     

     

     

                THE BANK OF NOVA
SCOTIA, as a Lender

    

     

                By:  /s/D.G.
MILLS

                Name: D.G.
Mills

                Title: Managing
Director

     

     

     

                REGIONS
BANK, successor by merger
to 
            AmSouth Bank, as a
Lender

    

     

                By:  /s/W.A.
PHILIPP

                Name: W.A.
Philipp

                Title: Vice
President

     

     

     

                COMPASS BANK,
as a Lender

    

     

                By:   /s/DOROTHY
MARCHAND

                Name: Dorothy
Marchand

                Title: Senior
Vice President

     

     

     

     

     

     

     

     

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

                

     

     

                CAPITAL ONE, NATIONAL
ASSOCIATION,

                as a
Lender

    

     

                By:  /s/NANCY M.
MAK

                Name: Nancy M.
Mak

                Title: Vice
President

     

     

        

                NATIXIS, as a
Lender

    

     

                By:  /s/DONOVAN C.
BROUSSARD

                Name:Donovan C.
Broussard

                Title: Managing
Director

     

     

                By:  /s/LIANA
TCHERNYSHEVA

                Name: Liana
Tchernysheva

                Title: Director

     

     

     

                U.S. BANK NATIONAL
ASSOCIATION,

                as a
Lender

     

     

                By:  /s/DARIA
MAHONEY

                Name: Daria
Mahoney

                Title: Vice
President

     

     

     

                KEYBANK NATIONAL
ASSOCIATION,

                as a
Lender

    

     

                By:  /s/TODD
COKER

                Name: Todd
Coker

                Title:Assistant Vice
President

     

     

     

                JPMORGAN CHASE BANK,
N.A.,

                as a
Lender

    

     

                By:  /s/ELIZABETH K.
JOHNSON

                Name: Elizabeth
K. Johnson

                Title: Vice
President

     

    

     

     

     

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

             

     

       

                SUNTRUST
BANK,

                as a
Lender

    

     

                By:  /s/YANN
PIRIO    

                Name: Yann
Pirio

                Title: Director

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    

     

     

     

     

     

     

     

     

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    
 

    ACKNOWLEDGMENT
BY GUARANTORS

     

    Each of
the undersigned Guarantors hereby (i) consents to the terms and conditions of
that certain Second Amendment to Second Amended and Restated Credit Agreement
dated as of May 1, 2009 (the "Amendment"), (ii) acknowledges and agrees
that its consent is not required for the effectiveness of the Amendment, (iii)
ratifies and acknowledges its respective Obligations under each Loan Document to
which it is a party and affirms that the terms of its respective Guaranty
guarantees, and will continue to guarantee, the Obligations, after giving effect
to the Amendment, and (iv) represents and warrants that (a) no Default or
Event of Default has occurred and is continuing, (b) it is in full compliance
with all covenants and agreements pertaining to it in the Loan Documents, and
(c) it has reviewed a copy of the Amendment.

     

                COMSTOCK OIL &
GAS HOLDINGS, INC.

                COMSTOCK OIL &
GAS - LOUISIANA, LLC

                COMSTOCK OFFSHORE,
LLC

                COMSTOCK OIL &
GAS GP, LLC,

                      By
Comstock Resources, Inc., its sole member

                COMSTOCK OIL &
GAS, LP,

     

     

                      By
Comstock Oil & Gas GP, LLC,

                      its
general partner,

     

     

                      By
Comstock Resources, Inc., its sole member

     

     

                By:  /s/ROLAND O.
BURNS

                Name: Roland O.
Burns

                Title: Senior
Vice President

     

    

                COMSTOCK OIL &
GAS INVESTMENTS, LLC

     

    

     

                By:  /s/ROLAND O.
BURNS

                Name: Roland O.
Burns

                Title: Managerex10_2.htm

    [Non-Director
Employees]

    

    THIS
DOCUMENT CONSTITUTES PART OF THE SECTION 10(a) PROSPECTUS COVERING SECURITIES
THAT HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933.

     

    

    Franklin
Electric Co., Inc. Stock Plan

    Non-Qualified
Stock Option Agreement

    

    The
employee identified below has been selected to be a Participant in the Franklin
Electric Co., Inc. Stock Plan, as Amended and Restated Effective March 9, 2009
(the “Plan”) and has been granted a Non-Qualified Option as outlined
below:

     

    Participant:

    Date
of Grant:

    Shares
Covered by the Option:

    Option
Exercise Price:  $

    Expiration
Date:

    Vesting
Schedule:

    

    This
Agreement, effective as of the Date of Grant set forth above, is between
Franklin Electric Co., Inc., an Indiana corporation (the “Company”), and the
Participant named above.  The parties hereto agree as
follows:

     

    The Plan
provides a complete description of the terms and conditions governing the
Option.  If there is any inconsistency between the terms of this
Agreement and the terms of the Plan, the Plan’s terms shall
govern.  All capitalized terms shall have the meanings ascribed to
them in the Plan, unless otherwise set forth herein.  A copy of the
Plan is attached hereto and the terms of the Plan are hereby incorporated by
reference.

     

    1. Stock Option
Grant.  Subject to the provisions set forth herein and the
terms and conditions of the Plan, and in consideration of the agreements of the
Participant herein provided, the Company hereby grants to the Participant an
Option to purchase from the Company the number of shares of Common Stock, at the
exercise price per share, and on the schedule, set forth above.

     

    2. Acceptance by
Participant.  The exercise of the Option is conditioned upon
the execution of this Agreement by the Participant and the return of an executed
copy of the Agreement to the Secretary of the Company no later than 60 days
after the Date of Grant or, if later, 30 days after the Participant receives
this Agreement.

     

    3. Exercise of
Option.  Subject to Section 4 below, the Participant may
exercise the vested portion of the Option at any time prior to the Expiration
Date.  Written notice of an election to exercise any portion of the
Option shall be given by the Participant, or his personal representative in the
event of the Participant’s death, to the Company’s Chief Financial Officer, in
accordance with procedures established by the Management Organization and
Compensation Committee of the Board of Directors of the Company (the
“Committee”) as in effect at the time of such exercise.

     

    At the
time of exercise of the Option, payment of the purchase price for the shares of
Common Stock with respect to which the Option is exercised, and of an amount
sufficient to satisfy all minimum Federal, state and local withholding tax
requirements, must be made by one or more of the following
methods:  (a) in cash, (b) in cash received from a broker-dealer to
whom the Participant has submitted an exercise notice and irrevocable
instructions to deliver the purchase price or withholding tax to the Company
from the proceeds of the sale of shares subject to the Option, (c) by directing
the Company to withhold such number of shares of Common Stock otherwise issuable
upon exercise of the Option with a fair market value equal to the amount of the
purchase price or the tax to be withheld and/or (d) by delivery to the Company
of other Common Stock owned by the Participant that is acceptable to the
Company, valued at its then fair market value.

     

    No shares
shall be issued upon exercise of the Option until full payment of the exercise
price and tax withholding obligation has been made.

     

    4. Exercise
Upon Termination of Employment.

     

    If the
Participant’s employment with the Company and all subsidiaries terminates
without cause (as determined by the Committee in its sole discretion) and for
any reason other than death, disability or retirement, the then vested portion
of the Option shall continue to be exercisable until the earlier of the 90th day
after the date of the Participant’s termination or the date the Option expires
by its terms.  The portion of the Option not vested as of the date of
such termination of employment shall expire as of such date and shall not be
exercisable.

     

    If the
Participant’s employment with the Company and all subsidiaries is terminated by
the Company for cause (as determined by the Committee in its sole discretion),
the Option shall expire on the date of such termination, and no portion shall be
exercisable after the date of such termination.

     

    In the
event of the Participant’s death, disability or retirement during employment
with the Company or any subsidiary, the outstanding portion of the Option shall
become fully vested on such date.  The Option shall continue to be
exercisable until the earlier of (i) the date the Option expires by its terms
and (ii) in the case of termination due to disability or retirement, 36 months
after the date of such termination, and in the case of termination due to death,
12 months after the date of such termination.  For purposes of this
Section 4, (A) “disability” has the meaning, and will be determined, as set
forth in the Company’s long term disability program in which the Participant
participates, and (B) “retirement” means the Participant’s termination from
employment with the Company and all subsidiaries without cause (as determined by
the Committee in its sole discretion) when the Participant is 65 or older or 55
or older with 10 years of service with the Company and its
subsidiaries.

     

    The
foregoing provisions of this Section 4 shall be subject to the provisions of any
written employment or severance agreement that has been or may be executed by
the Participant and the Company, and the provisions in such employment or
severance agreement concerning exercise of the Option shall supercede any
inconsistent or contrary provision of this Section 4.

     

    5. Nontransferability of
Options.  The Option may not be sold, transferred, pledged,
assigned, or otherwise alienated or hypothecated, other than by will or by the
laws of descent and distribution.

     

    6. Beneficiary
Designation.  The Participant may, from time to time, name any
beneficiary or beneficiaries (who may be named contingently or successively) to
whom any benefit under the Option is to be paid in the event of his or her
death.  Each designation will revoke all prior designations by the
same Participant, shall be in a form prescribed by the Board, and will be
effective only when filed by the Participant in writing with the Board during
his or her lifetime.  In the absence of any such designation, or if
all beneficiaries predecease the Participant, benefits remaining unpaid at the
Participant’s death shall be paid to the Participant’s estate.

     

    7. Rights as a
Stockholder.  The Participant shall have no rights as a
stockholder of the Company with respect to the shares of Common Stock subject to
the Option and this Agreement until such time as the exercise price has been
paid and the shares have been issued and delivered to him or her.

     

    8. Surrender of or Changes to
Agreement.  In the event the Option shall be exercised in
whole, this Agreement shall be surrendered to the Company for cancellation. In
the event the Option shall be exercised in part or a change in the number of
designation of the shares of Common Stock shall be made, this Agreement shall be
delivered by the Participant to the Company for the purpose of making
appropriate notation thereon, or of otherwise reflecting, in such manner as the
Company shall determine, the change in the number or designation of such
shares.

     

    9. Administration.  The
Option shall be exercised in accordance with such administrative regulations as
the Committee shall from time to time adopt.  It is expressly
understood that the Committee is authorized to administer, construe, and make
all determinations necessary or appropriate to the administration of, the Plan
and this Agreement, all of which shall be binding upon the
Participant.

     

    10. Governing Law.  This
Agreement, and the Option, shall be construed, administered and governed in all
respects under and by the laws of the State of Indiana.

     

    IN
WITNESS WHEREOF, this Agreement is executed by the parties this ____ day of
________, ____, effective as of the ____ day of ________, ____.

     

    FRANKLIN
ELECTRIC CO., INC.

    

    

    

    _________________________                                                                           By:           _________________________

    Participant

    

    
      
        
          

          4/2009

        

         

      

      
         

        
          

        

      

      
         

      

    

    Franklin
Electric Co., Inc. Stock Plan

    
      

    

    Name
(Please Print)

    

    In the
event of my death, the following person is to receive any benefits payable under
the Franklin Electric Co., Inc. Stock Plan.

     

    NOTE:                        The
primary beneficiary(ies) will receive your Stock Plan benefits.  If
more than one primary beneficiary is indicated, the benefits will be split among
them equally.  If you desire to provide for a distribution of benefits
among primary beneficiaries on other than an equal basis, please attach a sheet
explaining the desired distribution in full detail.  If any primary
beneficiary is no longer living on the date of your death, the benefit which the
deceased primary beneficiary would otherwise receive will be distributed to the
secondary beneficiary(ies), in a similar manner as described above for the
primary beneficiary(ies).

     

    ‘      Primary
Beneficiary                                                                 ‘     Secondary
Beneficiary

    ______________________________________________________________________________

    Last
Name                                           First                                M.I.                                Relationship

    ______________________________________________________________________________

    Street
Address                                                                                                City,
State, Zip Code

    

    ‘      Primary
Beneficiary                                                                 ‘     Secondary
Beneficiary

    ______________________________________________________________________________

    Last
Name                                           First                                M.I.                                Relationship

    ______________________________________________________________________________

    Street
Address                                                                                                City,
State, Zip Code

    

    ‘     Primary
Beneficiary                                                      ‘      Secondary
Beneficiary

    ______________________________________________________________________________

    Last
Name                                           First                                M.I.                                Relationship

    ______________________________________________________________________________

    Street
Address                                                                                                City,
State, Zip Code

    

    If a
trust or other arrangement is listed above, include name, address and date of
arrangement below:

     

    ______________________________________________________________________________

    Name                                                                Address                                                                Date

    ‘   For additional
beneficiaries, check here and attach an additional sheet of paper.

    

    This
supersedes any beneficiary designation previously made by me under this
Plan.  I reserve the right to change the beneficiary at any
time.

     

    

    _____________________________                                                                                     _________________________________________

    Date                                                                Sign
your full name here

    

    Date
received by Franklin Electric Co.,
Inc.        ____________________________________

    

    By:_____________________________________

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00158-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00158-of-00352.parquet"}]]