Document:

exv10w1

 

EXHIBIT 10.1

AMENDMENT NO. 4

TO THE

ACE CASH EXPRESS, INC.

1997 STOCK OPTION PLAN

     Ace Cash Express, Inc. (the “Company”) hereby amends the Ace Cash Express,
Inc. 1997 Stock Option Plan (the “Plan”), effective as set forth herein.

     WHEREAS, the Plan was adopted by the Board of Directors of the Company on
August 4, 1997, and has been amended thrice since then; and

     WHEREAS, the Company desires to amend the Plan further in certain respects
as set forth herein to authorize restricted stock grants under the Plan;

     NOW, THEREFORE, pursuant to the provisions of Section 17 of the Plan, the
Company amends the Plan as follows:

	 	1.	 	The title or name of the Plan is hereby amended to be
the “Ace Cash Express, Inc. 1997 Stock Incentive Plan.” The
definition of “Plan” in Section 21(j) of the Plan is hereby
amended to correspond to the title or name of the Plan as so
amended, and all references to the Plan in any agreement or
document shall be deemed to be to the title or name as so
amended.
	 
	 	2.	 	Section 1 of the Plan is hereby amended to read in its
entirety as follows:

		
	 	               1. PURPOSE. The purpose of the Plan is to provide key employees
with a proprietary interest in the Company through the granting of
options and Restricted Stock Awards which will

	 	 	 	 	 
	 	 	
(a)
	 	increase the interest of the key
employees in the Company’s and its Subsidiaries’ welfare;
	 	 	 	 	 
	 	 	
(b)
	 	furnish an incentive to the key employees
to continue their services for the Company and its
Subsidiaries; and
	 	 	 	 	 
	 	 	
(c)
	 	provide a means through which the Company
and its Subsidiaries may attract able persons to enter its
employ.

	 	3.	 	The first sentence of Section 3 of the Plan is hereby amended to
read in its entirety as follows:

		
	 	               The Committee shall, from time to time, select the particular key
employees of the Company and its Subsidiaries to whom options and
Restricted Stock Awards are to be granted and who will, upon such grant,
become participants in the Plan. For purposes of the Plan, “key
employees” are those officers and employees whose performance and
responsibilities are determined by the Committee to be influential to the
success of the Company and its Subsidiaries.

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	 	4.	 	Section 5 of the Plan is hereby amended to read in its entirety as
follows:

		
	 	               5. SHARES SUBJECT TO PLAN. The Board may not grant options and
Restricted Stock Awards under the Plan in the aggregate for more than
1,715,000 shares of Common Stock of the Company, including (without
limitation) to any key employee, but this number may be adjusted to
reflect, if deemed appropriate by the Committee, any stock dividend,
stock split, share combination, recapitalization, or the like of or by
the Company. Shares to be optioned and sold or to be granted as
Restricted Stock Awards may be made available or granted from either
authorized but unissued Common Stock or Common Stock held by the Company
in its treasury. Shares that by reason of the expiration, forfeiture or
cancellation of an option or Restricted Stock Award or otherwise are no
longer subject to purchase pursuant to an option, or are no longer
outstanding as a Restricted Stock Award, granted under the Plan may be
re-offered under the Plan.

	 	5.	 	Section 7 of the Plan is hereby amended to read in its
entirety as follows:

		
	 	               7. ALLOTMENT OF SHARES. The Committee shall determine the number of
shares of Common Stock to be offered from time to time by grant of
options and Restricted Stock Awards to key employees of the Company or
its Subsidiaries. The grant of an option or a Restricted Stock Award to
a key employee shall not be deemed to entitle the employee to, or to
disqualify the employee from, participation in any other grant of options
or Restricted Stock Awards under the Plan.

	 	6.	 	Section 12 of the Plan is hereby amended by changing the
caption of it to “PAYMENT AND EXERCISE OF OPTION.” and by adding to
it, as the second paragraph of Section 12, all of the text of
Section 13 of the Plan other than the number designation and the
caption of Section 13, so that all of Section 13 of the Plan (other
than the number designation) is combined with, as a part of, Section
12 of the Plan.
	 
	 	7.	 	The Plan is hereby amended by deleting the existing Section 13 as a
separate section and adding a new Section 13 to the Plan to read as
follows:

		
	 	               13. TERMS AND CONDITIONS OF RESTRICTED STOCK AWARDS.
Each Restricted Stock Agreement shall be in such form and
shall contain such terms and conditions as the Committee shall
deem appropriate. The terms and conditions of such Restricted
Stock Agreements may change from time to time, and the terms
and conditions of separate Restricted Stock Agreements need
not be identical, but each such Restricted Stock Agreement
shall be subject to the terms and conditions of this Section
13.

     (a)  Forfeiture Restrictions. Shares of Common Stock that are the subject
of a Restricted Stock Award shall be subject to restrictions on disposition by
the Grantee and to an obligation of the Grantee to forfeit and surrender the
shares to the Company under certain circumstances (“Forfeiture Restrictions”).
The Forfeiture Restrictions shall be determined by the Committee in its sole
discretion, and the Committee may provide that the Forfeiture Restrictions
shall lapse on the passage of time, the attainment of one or more performance
targets established by the Committee, or the occurrence of such other event or
events determined to be appropriate by the Committee. The Forfeiture
Restrictions applicable to a particular Restricted Stock Award (which may
differ from any other such Restricted Stock Award) shall be stated in the
Restricted Stock Agreement.

     (b)  Restricted Stock Awards. At the time any Restricted Stock Award is
granted under the Plan, the Company and the Grantee shall enter into a
Restricted Stock Agreement setting forth

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 each of the matters addressed in this Section 13 and such other matters as
the Committee may determine to be appropriate. Shares of Common Stock granted
pursuant to a Restricted Stock Award shall be represented by a stock
certificate registered in the name of the Grantee of such Restricted Stock
Award. The Grantee shall have the right to receive dividends with respect to
the shares of Common Stock subject to a Restricted Stock Award, to vote the
shares of Common Stock subject thereto and to enjoy all other shareholder
rights with respect to the shares of Common Stock subject thereto, except that,
unless provided otherwise in the Restricted Stock Agreement, (i) the Grantee
shall not be entitled to delivery of the shares of Common Stock or the
certificate representing them until the Forfeiture Restrictions have expired,
(ii) the Company or an escrow agent shall retain custody of the shares of
Common Stock and the certificate representing them until the Forfeiture
Restrictions have expired, (iii) the Grantee may not sell, transfer, pledge,
exchange, hypothecate or otherwise dispose of the shares of Common Stock until
the Forfeiture Restrictions subject thereto have expired, and (iv) a breach of
the terms and conditions established by the Committee pursuant to the
Restricted Stock Agreement shall cause a forfeiture of the Restricted Stock
Award. At the time of any Restricted Stock Award, the Committee may, in its
sole discretion, prescribe additional terms, conditions or restrictions
relating to the Restricted Stock Award, including (without limitation) rules
pertaining to the termination of the Grantee’s employment with the Company or a
Subsidiary (by retirement, disability, death or otherwise) before expiration of
the Forfeiture Restrictions. Such additional terms, conditions or restrictions
shall also be set forth in a Restricted Stock Agreement made in connection with
the Restricted Stock Award.

     (c)  Rights and Obligations of Grantee. One or more stock certificates
representing shares of Common Stock, free of Forfeiture Restrictions, shall be
delivered to the Grantee promptly after, and only after, the Forfeiture
Restrictions with respect to such shares have expired. Each Restricted Stock
Agreement shall require that (i) the Grantee, by his or her acceptance of the
Restricted Stock Award, shall irrevocably grant to the Company a power of
attorney to transfer any shares so forfeited to the Company and agrees to
execute any documents requested by the Company in connection with such
forfeiture and transfer, and (ii) such provisions regarding transfers of
forfeited shares of Common Stock shall be specifically performable by the
Company in a court of equity or law.

     (d)  Restriction Period. The Restriction Period for a Restricted Stock
Award shall commence on the date of grant of the Restricted Stock Award and,
unless otherwise established by the Committee and stated in the corresponding
Restricted Stock Agreement, shall expire upon satisfaction of the conditions
set forth in the Restricted Stock Agreement pursuant to which the Forfeiture
Restrictions will lapse.

     (e)  Securities Restrictions. The Committee may impose other conditions on
any shares of Common Stock subject to a Restricted Stock Award as it may deem
advisable, including, without limitation, (i) restrictions under applicable
state or federal securities laws, and (ii) the requirements of any stock
exchange or market quotation system upon which shares of Common Stock are then
listed or quoted.

     (f)  Payment for Restricted Stock. The Committee shall determine the
amount and form of any payment required to be made for shares of Common Stock
subject to a Restricted Stock Award. In the absence of such a determination,
the Grantee shall not be required to make any payment for shares of Common
Stock subject to a Restricted Stock Award, except to the extent otherwise
required by law.

     (g)  Forfeiture of Restricted Stock. Subject to the provisions of the
particular Restricted Stock Agreement, on termination of the Grantee’s
employment with the Company or a Subsidiary during the Restriction Period, the
shares of Common Stock subject to the Restricted Stock Award shall be forfeited
by the Grantee. Upon any forfeiture, all rights of the Grantee with respect to
the forfeited shares of Common Stock subject to the Restricted Stock Award
shall cease and terminate, without any further obligation on the part of the
Company, except that if so provided in the Restricted Stock Agreement

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 applicable to the Restricted Stock Award, the Company shall repurchase
each of the shares of Common Stock forfeited for the purchase price per share
paid by the Grantee. The Committee will have discretion to determine whether
the employment of a Grantee has terminated and the date on which such
employment terminated and whether the Grantee’s employment terminated as a
result of the disability of the Grantee.

     (h)  Lapse of Forfeiture Restrictions in Certain Events; Committee’s
Discretion. Notwithstanding the provisions of Section 13(g) or any other
provision in the Plan to the contrary, the Committee may, in its discretion and
as of a date determined by the Committee, fully vest any or all Common Stock
awarded to the Grantee pursuant to a Restricted Stock Award, and upon such
vesting, all Forfeiture Restrictions applicable to such Restricted Stock Award
shall lapse or terminate. Any action by the Committee pursuant to this Section
13(h) may vary among individual Grantees and may vary among the Restricted
Stock Awards held by any individual Grantee. Notwithstanding the preceding
provisions of this Section 13(h), the Committee may not take any action
described in this Section 13(h) with respect to a Restricted Stock Award that
has been designed to meet the exception for performance-based compensation
under Section 162(m) of the Internal Revenue Code.

	 	8.	 	Section 14 of the Plan is hereby amended by restating the first
paragraph and the first sentence of the second paragraph thereof to read in
their entirety as follows:

     The number of shares of Common Stock covered by each outstanding option
and each outstanding Restricted Stock Award granted under the Plan and the
option or purchase price may be adjusted to reflect, as deemed appropriate by
the Committee, any stock dividend, stock split, share combination, exchange of
shares, sale of all or substantially all outstanding capital stock,
recapitalization, merger, consolidation, separation, reorganization, sale of
all or substantially all assets, liquidation, or the like of or by the Company.

     In the event of a merger, consolidation, share exchange, sale of all or
substantially all outstanding capital stock, reorganization, sale of all or
substantially all assets, liquidation, recapitalization, separation, or the
like of or by the Company, (i) the Company (acting by or through the Board or
the Committee) may make such arrangements as it deems advisable with respect to
outstanding options granted under the Plan, and those arrangements shall be
binding upon each participant who holds an outstanding option granted under the
Plan, including (without limitation) arrangements for the substitution of new
options for any options then outstanding (by conversion or otherwise), the
assumption of any such outstanding options, or the payment for any such
outstanding options, and (ii) unless the terms of the applicable Restricted
Stock Agreement otherwise provide, the Forfeiture Restrictions applicable to
each outstanding Restricted Stock Award shall lapse and shares of Common Stock
subject to such Restricted Stock Award shall be released from escrow, if
applicable, and delivered to the Grantees free of any Forfeiture Restriction.

	 	9.	 	Section 21 of the Plan is hereby amended by adding new paragraphs (l),
(m), (n), and (o), following paragraph (k), to read in their entirety as
follows:

		
	 	     (l) “Grantee” means a key employee to whom a Restricted Stock Award
has been granted under the Plan.

		
	 	     (m) “Restriction Period” means the period during which the Common
Stock under a Restricted Stock Award is nontransferable and subject to
Forfeiture Restrictions, as defined in Section 13(a) of the Plan, set
forth in the related Restricted Stock Agreement.

		
	 	     (n) “Restricted Stock Agreement” means the written agreement
evidencing the grant of a Restricted Stock Award executed by the Company
and the Grantee, including (without

4

 

		
	 	limitation) any amendments thereto. Each Restricted Stock Agreement
shall be subject to the terms and conditions of the Plan.

		
	 	     (o) “Restricted Stock Award” means an award, granted under Section
13 of this Plan, of shares of Common Stock issued to the Grantee for such
consideration, if any, and subject to such restrictions on transfer,
rights of first refusal, repurchase provisions, forfeiture provisions and
other terms and conditions as are established by the Committee.

     IN WITNESS WHEREOF, the Company has caused this Amendment No. 4 to be
executed and effective as of the 10th day of September, 2002.

	 	 	 	 	 
	 	 	ACE CASH EXPRESS, INC.
	 	 	 	 	 
	 	 	
By:
	 	/s/ JOE W. CONNER
	 	 	 	 	

5<PAGE>
                                                                     EXHIBIT 4.2

                         SYBRON DENTAL MANAGEMENT, INC.

                                FIRST AMENDMENT
                              TO CREDIT AGREEMENT

          This FIRST AMENDMENT TO CREDIT AGREEMENT (this "AMENDMENT") is dated
as of December 10, 2002 and entered into by and among SYBRON DENTAL MANAGEMENT,
INC., a Delaware corporation ("COMPANY"), KERR CORPORATION, a Delaware
corporation ("KERR"), ORMCO CORPORATION, a Delaware corporation ("ORMCO"), and
PINNACLE PRODUCTS, INC., a Wisconsin corporation ("PINNACLE"; each of Company,
Kerr, Ormco and Pinnacle are individually referred to herein as a "DOMESTIC
BORROWER" and collectively, on a joint and several basis, as the "DOMESTIC
BORROWERS"), HAWE NEOS HOLDING SA, a corporation organized under the laws of
Switzerland ("OFFSHORE BORROWER"; Offshore Borrower and each of the Domestic
Borrowers are each individually referred to herein as a "Borrower" and
collectively, as the "BORROWERS"), SYBRON DENTAL SPECIALTIES, INC., a Delaware
corporation ("HOLDINGS"), the financial institutions listed on the signature
pages hereof ("LENDERS") and CREDIT SUISSE FIRST BOSTON ("CSFB"), as
administrative agent for Lenders (in such capacity, "ADMINISTRATIVE AGENT"), and
is made with reference to that certain Credit Agreement dated as of June 6, 2002
(the "CREDIT AGREEMENT"), by and among Domestic Borrowers, Offshore Borrower,
Holdings, Lenders, LaSalle Bank National Association, as syndication agent, Bank
of Tokyo-Mitsubishi, Ltd., Chicago Branch, Fleet National Bank and Credit
Lyonnais, New York Branch, as co-documentation agents and Administrative Agent.
Capitalized terms used herein without definition shall have the same meanings
herein as set forth in the Credit Agreement.

                                    RECITALS

          WHEREAS, Company and Lenders desire to amend the Credit Agreement to
(i) allow Holdings to repurchase or redeem, as the case may be, Common Stock and
Senior Subordinated Notes for Cash consideration in an aggregate amount not to
exceed $25,000,000 and (ii) make certain other amendments as set forth below:

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

     SECTION 1. AMENDMENTS TO THE CREDIT AGREEMENT

1.1 AMENDMENTS TO SECTION 1: DEFINITIONS.

          A. Subsection 1.1 of the credit Agreement is hereby amended by adding
     thereto the following definitions:

          "EXCESS AVAILABILITY" means the sum of Revolving Loan Excess
     Availability plus Offshore Loan Excess Availability.

          "FIRST AMENDMENT EFFECTIVE DATE" means the date this Amendment to the
     Credit Agreement became effective in accordance with its terms.

<PAGE>

          "OFFSHORE LOAN EXCESS AVAILABILITY" means the amount, as of any date
     of determination, by which (a) the Offshore Loan Commitments exceeds (b)
     the Total Utilization of Offshore Loan Commitments, as determined by
     Administrative Agent.

          "REVOLVING LOAN EXCESS AVAILABILITY" means the amount, as of any date
     of determination, by which (a) the Revolving Loan Commitments exceeds (b)
     the Total Utilization of Revolving Loan Commitments, as determined by
     Administrative Agent.

1.2  AMENDMENTS TO SECTION 7: COMPANY'S NEGATIVE COVENANTS

          A. Subsection 7.5 of the Credit Agreement is hereby amended by
deleting the period at the end of clause (iv) of such subsection and
substituting therefore a semicolon and inserting the following clauses (v) and
(vi) immediately following such clause (iv):

               "(v) From and after the First Amendment Effective Date, Holdings
          may purchase or redeem, as the case may be, Common Stock and/or Senior
          Subordinated Notes for Cash consideration in an aggregate amount not
          to exceed $25,000,000 during the term of this Agreement, so long as:
          (a) no Event of Default or Potential Event of Default has occurred and
          is continuing or would be caused by any such purchase or redemption;
          (b) immediately before and after giving effect to such transaction
          Excess Availability is at least $75,000,000; and (c) the Governing
          Body of Holdings has determined that any such transaction is for fair
          market value and in the best interests of Holdings and its
          Subsidiaries; and

               (vi) From and after the First Amendment Effective Date, Company
          and Pinnacle may make Restricted Junior Payments to Holdings to the
          extent necessary to permit Holdings to purchase or redeem, as the case
          may be, Common Stock and/or Senior Subordinated Notes to the extent
          permitted by clause (v) above, so long as (a) no Event of Default or
          Potential Event of Default has occurred and is continuing or would be
          caused by any such Restricted Junior Payment, (b) Holdings is
          permitted to make Restricted Junior Payments as provided for in clause
          (v) above and (c) Holdings applies the amount of any such Restricted
          Junior Payment for such purpose."

     SECTION 2. COMPANY'S REPRESENTATIONS AND WARRANTIES

          In order to induce Lenders to enter into this Amendment and to amend
the Credit Agreement in the manner provided herein, Holdings and each Borrower
jointly and severally represent and warrant to each Lender that the following
statements are true, correct and complete:

          A. CORPORATE POWER AND AUTHORITY. Holdings and each Borrower has all
requisite corporate power and authority to enter into this Amendment and to
carry out the transactions contemplated by, and perform its obligations under,
the Credit Agreement as amended by this Amendment (the "AMENDED AGREEMENT").

          B. AUTHORIZATION OF AGREEMENTS. The execution and delivery of this
Amendment and the performance of the Amended Agreement have been duly authorized
by all necessary corporate action on the part of Holdings and each Borrower.

          C. NO CONFLICT. The execution and delivery by Holdings and each
Borrower of this Amendment and the performance by Holdings and each Borrower of
the Amended Agreement do not and will not (i) violate any provision of any law
or any governmental rule or regulation applicable to Holdings or any of its

<PAGE>

Subsidiaries, the Certificate or Articles of Incorporation or Bylaws of Holdings
or any of its Subsidiaries or any order, judgment or decree of any court or
other agency of government binding on Holdings or any of its Subsidiaries, (ii)
conflict with, result in a breach of or constitute (with due notice or lapse of
time or both) a default under any Contractual Obligation of Holdings or any of
its Subsidiaries, except for such conflicts, breaches or defaults which could
not reasonably be expected to result in a Material Adverse Effect, (iii) result
in or require the creation or imposition of any Lien upon any of the properties
or assets of Holdings Company or any of its Subsidiaries, or (iv) require any
approval of stockholders or any approval or consent of any Person under any
Contractual Obligation of Holdings or any of its Subsidiaries, except for such
approvals or consents which will be, obtained on or before the First Amendment
Effective Date and disclosed in writing to Lenders.

          D. GOVERNMENTAL CONSENTS. The execution and delivery by Holdings and
each Borrower of this Amendment and the performance by Holdings and each
Borrower of the Amended Agreement do not and will not require any Governmental
Authorization.

          E. BINDING OBLIGATION. This Amendment has been duly executed and
delivered by Holdings and each Borrower and this Amendment and the Amended
Agreement are the legally valid and binding obligations of Holdings and each
Borrower, enforceable against Holdings and each Borrower in accordance with
their respective terms, except as may be limited by bankruptcy, insolvency,
reorganization, moratorium or similar laws relating to or limiting creditors'
rights generally or by equitable principles relating to enforceability.

          F. INCORPORATION OF REPRESENTATIONS AND WARRANTIES FROM CREDIT
AGREEMENT. The representations and warranties contained in Section 5 of the
Credit Agreement are and will be true, correct and complete in all material
respects on and as of the First Amendment Effective Date to the same extent as
though made on and as of that date, except to the extent such representations
and warranties specifically relate to an earlier date, in which case they were
true, correct and complete in all material respects on and as of such earlier
date.

          G. ABSENCE OF DEFAULT. No event has occurred and is continuing or will
result from the consummation of the transactions contemplated by this Amendment
that would constitute an Event of Default or a Potential Event of Default.

     SECTION 3. MISCELLANEOUS

          A. REFERENCE TO AND EFFECT ON THE CREDIT AGREEMENT AND THE OTHER LOAN
DOCUMENTS.

          (i) On and after the First Amendment Effective Date, each reference in
          the Credit Agreement to "this Agreement", "hereunder", "hereof",
          "herein" or words of like import referring to the Credit Agreement,
          and each reference in the other Loan Documents to the "Credit
          Agreement", "thereunder", "thereof" or words of like import referring
          to the Credit Agreement shall mean and be a reference to the Amended
          Agreement.

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

          (iii) The execution, delivery and performance of this Amendment shall
          not, except as expressly provided herein, constitute a waiver of any
          provision of, or operate as a waiver of any right, power or remedy of
          Agent or any Lender under, the Credit Agreement or any of the other
          Loan Documents.

<PAGE>

          B. FEES AND EXPENSES. Holdings and each Borrower acknowledges that all
costs, fees and expenses as described in subsection 11.4 of the Credit Agreement
incurred by Administrative Agent and its counsel with respect to this Amendment
and the documents and transactions contemplated hereby shall be for the account
of the Borrowers.

          C. HEADINGS. Section and subsection headings in this Amendment are
included herein for convenience of reference only and shall not constitute a
part of this Amendment for any other purpose or be given any substantive effect.

          D. APPLICABLE LAW. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF
THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED
IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING
WITHOUT LIMITATION SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW OF THE STATE
OF NEW YORK), WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES.

          E. COUNTERPARTS; EFFECTIVENESS. This Amendment may be executed in any
number of counterparts and by different parties hereto in separate counterparts,
each of which when so executed and delivered shall be deemed an original, but
all such counterparts together shall constitute but one and the same instrument;
signature pages may be detached from multiple separate counterparts and attached
to a single counterpart so that all signature pages are physically attached to
the same document. This Amendment shall become effective upon (i) receipt by
Administrative Agent from Borrowers of an amendment fee for each Lender that has
executed and delivered a counterpart of this Amendment on or prior to December
10,2002, equal to 0.125% of the sum of (x) such Lender's Term Loan Exposure,
plus (y) such Lender's Revolving Loan Exposure, plus (z) such Lender's Offshore
Loan Exposure, (ii) the execution of a counterpart hereof by Holdings, each
Borrower, each other Loan Party and Requisite Lenders and (iii) receipt by
Company and Administrative Agent of written or telephonic notification of such
execution and authorization of delivery thereof.

     SECTION 4. ACKNOWLEDGEMENT AND CONSENT BY GUARANTORS

         Each guarantor listed on the signature pages hereof ("GUARANTORS")
hereby acknowledges that it has read this Amendment and consents to the terms
thereof, and hereby confirms and agrees that, notwithstanding the effectiveness
of this Amendment, the obligations of each Guarantor under its applicable
Guaranty shall not be impaired or affected and the applicable Guaranty is, and
shall continue to be, in full force and effect and is hereby confirmed and
ratified in all respects. Each Guarantor further agrees that nothing in the
Credit Agreement, this Amendment or any other Loan Document shall be deemed to
require the consent of such Guarantor to any future amendment to the Credit
Agreement.

[The remainder of page intentionally left blank.]

<PAGE>

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

COMPANY:                                SYBRON DENTAL MANAGEMENT, INC.

                                        By:  /s/ STEPHEN J. TOMASSI
                                             ----------------------------------
                                        Name:  Stephen J. Tomassi
                                        Title: Authorized Representative

HOLDINGS:                               SYBRON DENTAL SPECIALTIES, INC.

                                        By: /s/ STEPHEN J. TOMASSI
                                        ----------------------------------------
                                        Name:  Stephen J. Tomassi
                                        Title: Vice President,Secretary
                                        and General Counsel

OTHER
DOMESTIC
BORROWERS:                              KERR CORPORATION

                                        By: /s/ STEPHEN J. TOMASSI
                                        ----------------------------------------
                                        Name:  Stephen J. Tomassi
                                        Title: Authorized Representative

                                        ORMCO CORPORATION

                                        By: /s/ STEPHEN J. TOMASSI
                                        ----------------------------------------
                                        Name:  Stephen J. Tomassi
                                        Title: Authorized Representative

<PAGE>

                                        PINNACLE PRODUCTS, INC.

                                        By: /s/ STEPHEN J. TOMASSI
                                        ----------------------------------------
                                        Name:  Stephen J. Tomassi
                                        Title: Authorized Representative

OFFSHORE
BORROWER:                               HAWE NEOS HOLDING SA

                                        By: /s/ STEPHEN J. TOMASSI
                                        ----------------------------------------
                                        Name:  Stephen J. Tomassi
                                        Title: Authorized Representative

AGENTS AND LENDERS:                     CREDIT SUISSE FIRST BOSTON, as
                                           Administrative Agent

                                        By: /s/ KRISTIN LEPRI
                                        ----------------------------------------
                                        Name:  Kristin Lepri
                                        Title: Associate

                                        By: /s/ JULIA KINGSBURY
                                        ----------------------------------------
                                        Name:  Julia Kingsbury
                                        Title: Vice President

<PAGE>

                                        CREDIT SUISSE FIRST BOSTON, CAYMAN
                                        ISLANDS BRANCH

                                        By: /s/ Dana Klein
                                        ----------------------------------------
                                        Name:  Dana Klein
                                        Title: Director

                                        By: /s/ Christopher Lally
                                        ----------------------------------------
                                        Name:  Christopher Lally
                                        Title: Vice President

                                        LASALLE BANK NATIONAL ASSOCIATION,
                                        individually and as a Syndication Agent

                                        By: /s/ LORA BACKOFEN
                                        ----------------------------------------
                                        Name:   Lora B. Backofen
                                        Title:  Vice President

<PAGE>

                                         CREDIT LYONNAIS NEW YORK BRANCH,
                                         individually and as a Co-Documentation
                                         Agent

                                         By: /s/ CHARLES HEIDELECK
                                         ---------------------------------------
                                         Name:   Charles Heideleck
                                         Title:  Senior Vice President

                                         BANK OF TOKYO-MITSUBISHI, LTD., CHICAGO
                                         BRANCH, individually and as a
                                         Co-Documentation Agent

                                         By: /s/ SHINICHIRO MUNECHIKA
                                         ---------------------------------------
                                         Name:  Shinichiro Munechika
                                         Title: Deputy General Manager

                                         FLEET NATIONAL BANK,
                                           individually and as a
                                           Co-Documentation Agent

                                         By: /s/ GORDON B. COUGHLIN
                                         ---------------------------------------
                                         Name:  Gordon B. Coughlin
                                         Title: Vice President
<PAGE>

                                         Notice Address:
                                         100 Federal Street
                                         Boston, MA 02110
                                         Attention:  Bart Coughlin
                                         Telefacsimile:  (617) 434-2472

                                         NATIONAL CITY BANK

                                         By: /s/ TOM GURBACH
                                         ---------------------------------------
                                         Name:  Tom Gurbach
                                         Title: Vice President

                                         WEBSTER BANK

                                         By: /s/ GAIL BRUHN
                                         ---------------------------------------
                                         Name:  Gail Bruhn
                                         Title: Vice President

                                         ALLIED IRISH BANKS PLC.

                                         By: /s/ RIMA TERRADISTA/JOHN FARRACE
                                         ---------------------------------------
                                         Name:  Rima Terradista/John Farrace
                                         Title: Senior Vice Presidents
<PAGE>

                                        ABBEY NATIONAL TREASURY SERVICES PLC
                                         (U.S. BRANCH)

                                        By:  /s/ BARRIE WILLIAMS
                                        ----------------------------------------
                                        Name:  Barrie Williams
                                        Title: Senior Manager

                                        ORIX FINANCIAL SERVICES, INC.

                                        By: /s/ LISA NOWAKOWSKI
                                        ----------------------------------------
                                        Name:  Lisa Nowakowski
                                        Title: Vice President

                                        THE BANK OF NEW YORK

                                        By: /s/ MICHAEL V. FLANNERY
                                        ----------------------------------------
                                        Name:  Michael V. Flannery
                                        Title: Vice-President

<PAGE>

                                        COMERICA WEST INCORPORATED

                                        By: /s/ ELISE M. WALKER
                                        ----------------------------------------
                                        Name:  Elise M. Walker
                                        Title: Assistant Vice-President

                                        Addison CDO, Limited (#1279)

                                        By: Pacific Investment Management
                                        Company, LLC, as its Investment Advisor

                                        By: /s/ MOHAN V. PHANSALKER
                                        ----------------------------------------
                                        Name: Mohan V. Phansalker
                                        Title: Executive Vice President

                                        Intercontinental CDO, S.A.(#1284)

                                        By: Pacific Investment Management
                                        Company, LLC, as its Investment Advisor

                                        By: /s/ MOHAN V. PHANSALKER
                                        ----------------------------------------
                                        Name: Mohan V. Phansalker
                                        Title: Executive Vice President

                                        Wrigley CDO, Limited (#1285)

                                        By: Pacific Investment Management
                                        Company, LLC, as its Investment Advisor

                                        By: /s/ MOHAN V. PHANSALKER
                                        ----------------------------------------
                                        Name: Mohan V. Phansalker
                                        Title: Executive Vice President

                                        Sankaty Advisors, LLC as Collateral
                                        Manager for Race Point CLO, Limited as
                                        Term Lender

                                        By: /s/ DIANE J.EXTER
                                        ----------------------------------------
                                        Name: Diane J. Exter
                                        Title: Managing Director Portfolio
                                        Manager

                                        The Sumitomo Trust & Banking Co., Ltd
                                        New York Branch

                                        By: /s/ ELIZABETH A. QUIRK
                                        ----------------------------------------
                                        Name: Elizabeth A. Quirk
                                        Title: Vice President

<PAGE>

                                        Avalon Capital Ltd.

                                        By: INVESCO Senior Secured Management,
                                        Inc. As Pportfolio Advisor

                                        By: /s/ THOMAS H.B. EWALD
                                        ----------------------------------------
                                        Name: Thomas H.B. Ewald
                                        Title: Authorized Signatory

                                        Saratoga CLO I, Limited

                                        By: INVESCO Senior Secured Management,
                                        Inc. As Asset Manager

                                        By: /s/ THOMAS H.B> EWALD
                                        ----------------------------------------
                                        Name: Thomas H.B. Ewald
                                        Title: Authorized Signatory

                                        MIZUHO Corporate Bank, LTD

                                        By: /s/ MASAHITO FUKUDA
                                        ----------------------------------------
                                        Name: Masahito Fukuda
                                        Title: Sr. Vice President & Group Head

                                        Natexis Banques Populaires

                                        By: /s/ FRANK H. MADDEN, JR.
                                        ----------------------------------------
                                        Name: Frank H. Madden, Jr.
                                        Title: Vice President & Group Manger

                                        By: /s/ JOSEPH A. MILLER
                                        ----------------------------------------
                                        Name: Joseph A. Miller
                                        Title: Associate

                                        BRYN MAWR CLO, LTD

                                        By: Deerfield Capital Management LLC as
                                        its Collateral Manger

                                        By: /s/ DAN HATTORI
                                        ----------------------------------------
                                        Name: Dan Hattori
                                        Title: Sr. Vice President

                                        Jupiter Loan Funding LLC

                                        By: /s/ DIANA L. MUSHILL
                                        ----------------------------------------
                                        Name: Diana L. Mushill
                                        Title: Asst. Vice President

                                        PPM Spyglass Funding Trust

                                        By: /s/ DIANA L. MUSHILL
                                        ----------------------------------------
                                        Name: Diana L. Mushill
                                        Title: Asst. Vice President

                                        PPM Shadow Creek Funding LLC

                                        By: /s/ DIANA L. MUSHILL
                                        ----------------------------------------
                                        Name: Diana L. Mushill
                                        Title: Asst. Vice President

<PAGE>

                                        Harbour Town Funding LLC

                                        By: /s/ DIANA L. MUSHILL
                                        ----------------------------------------
                                        Name: Diana L. Mushill
                                        Title: Asst. Vice President

                                        Forest Creek CLO, LTD.

                                        By: Deerfield Capital Management LLC, as
                                        its Collateral Manager

                                        By: /s/ DAN HATTORI
                                        ----------------------------------------
                                        Name: Dan Hattori
                                        Title: Senior Vice President

                                        Senior Debt Portfolio

                                        By: Boston Management and Research as
                                        Investment Advisor

                                        By: /s/ PAYSON F. SWAFFIELD
                                        ----------------------------------------
                                        Name: Payson F. Swaffield
                                        Title: Vice President

                                        Eaton Vance Senior Income Trust

                                        By: Eaton Vance Management Investment
                                        Advisor

                                        By: /s/ PAYSON F. SWAFFIELD
                                        ----------------------------------------
                                        Name: Payson F. Swaffield
                                        Title: Vice President

                                        Grayson & Co.

                                        By: Boston Management and Research as
                                        Investment Advisor

                                        By: /s/ PAYSON F. SWAFFIELD
                                        ----------------------------------------
                                        Name: Payson F. Swaffield
                                        Title: Vice President

                                        Eaton Vance Institutional Senior Loan
                                        Fund

                                        By: Eaton Vance Management Investment
                                        Advisor

                                        By: /s/ PAYSON F. SWAFFIELD
                                        ----------------------------------------
                                        Name: Payson F. Swaffield
                                        Title: Vice President

                                        Oxford Strategic Income Fund

                                        By: Eaton Vance Management Investment
                                        Advisor

                                        By: /s/ PAYSON F. SWAFFIELD
                                        ----------------------------------------
                                        Name: Payson F. Swaffield
                                        Title: Vice President

<PAGE>

                                        Eaton Vance CDO III, LTD

                                        By: Eaton Vance Management Investment
                                        Advisor

                                        By: /s/ PAYSON F. SWAFFIELD
                                        ----------------------------------------
                                        Name: Payson F. Swaffield
                                        Title: Vice President

                                        Eaton Vance CDO IV, LTD

                                        By: Eaton Vance Management Investment
                                        Advisor

                                        By: /s/ PAYSON F. SWAFFIELD
                                        ----------------------------------------
                                        Name: Payson F. Swaffield
                                        Title: Vice President

                                        Constantine Eaton Vance CDO V, LTD

                                        By: Eaton Vance Management Investment
                                        Advisor

                                        By: /s/ PAYSON F. SWAFFIELD
                                        ----------------------------------------
                                        Name: Payson F. Swaffield
                                        Title: Vice President

                                        Big Sky Senior Loan Fund, LTD

                                        By: Eaton Vance Management Investment
                                        Advisor

                                        By: /s/ PAYSON F. SWAFFIELD
                                        ----------------------------------------
                                        Name: Payson F. Swaffield
                                        Title: Vice President

                                        Fidelity Advisor Series II: Fidelity

                                        Advisor Floating Rate High Income Fund

                                        By: /s/ FRANCIS V. KNOX, JR.
                                        ----------------------------------------
                                        Name: Francis V.Knox
                                        Title: Assistant Treasurer

                                        Rosemont CLO, Ltd.

                                        By: Deerfield Capital Management LLC as
                                        its Collateral Manager

                                        By: /s/ DAN HATTORI
                                        ----------------------------------------
                                        Name: Dan Hattori
                                        Title: Senior Vice President

                                        Sequils-Cumberland I, Ltd.

                                        By: Deerfield Capital Management LLC as
                                        its Collateral Manager

                                        By: /s/ DAN HATTORI
                                        ----------------------------------------
                                        Name: Dan Hattori
                                        Title: Senior Vice President

                                        Apex (IDM) CDO I. Ltd.

                                        By: David L. Babson & Company Inc., as
                                        its Collateral Manager

                                        By: /s/ JOHN STELWAGON
                                        ----------------------------------------
                                        Name: John Stelwagon
                                        Title: Managing Director

<PAGE>

                                        Tryon CLO Ltd. -2000-I

                                        By: David L. Babson & Company Inc., as
                                        its Collateral Manager

                                        By: /s/ JOHN STELWAGON
                                        ----------------------------------------
                                        Name: John Stelwagon
                                        Title: Managing Director

                                        ELC (Cayman) Ltd. 1999-III

                                        By: David L. Babson & Company Inc., as
                                        its Collateral Manager

                                        By: /s/ JOHN STELWAGON
                                        ----------------------------------------
                                        Name: John Stelwagon
                                        Title: Managing Director

                                        Sierra CLO I

                                        By: /s/ JOHN M. CASPARIAN
                                        ----------------------------------------
                                        Name: John M. Casparian
                                        Title: Chief Operating Officer Centre
                                        Pacific LLC, Manager

                                        Hanover Square CLO Ltd.

                                        By: Blackstone Debt Advisors L.P. as
                                        Collateral Manager

                                        By: /s/ DEAN T. CRIARES
                                        ----------------------------------------
                                        Name: Dean T. Criares
                                        Title: Managing Director

                                        Venture II CDO 2002, Limited

                                        By: its Investment advisor, Barclays
                                        Bank PLC, New York Branch

                                        By: /s/ MARIA P. CRUZ
                                        ----------------------------------------
                                        Name: Maria P. Cruz
                                        Title: Manager

                                        Bank of Montreal

                                        By: /s/ S. VALIA
                                        ----------------------------------------
                                        Name: S. Valia
                                        Title: MD

                                        Olympic Funding Trust, Series 1999-1

                                        By: /s/ DIANA L. MUSHILL
                                        ----------------------------------------
                                        Name: Diana L. Mushill
                                        Title: Authorized Agent

                                        Winged Foot Funding Trust

                                        By: /s/ DIANA L. MUSHILL
                                        ----------------------------------------
                                        Name: Diana L. Mushill
                                        Title: Authorized Agent

<PAGE>

                                        Ares VI CLO Ltd.

                                        By: Ares CLO Management VI, L.P.,
                                              Investment Manager

                                        By: Ares CLO GP VI, LLC,
                                              Its Managing Memeber

                                        By: /s/ JEFF MOORE
                                        ----------------------------------------
                                        Name: Jeff Moore
                                        Title: Vice President

                                        NOVA CDO 2001, LTD.

                                        By: /s/ DAVID MAHON
                                        ----------------------------------------
                                        Name: David Mahon
                                        Title: Vice President

                                        Centurion CDO II, Ltd.

                                        By: American Express Asset Management
                                        Group Inc. as Collateral Manager

                                        By: /s/ LEANNE STAVRAKIS
                                        ----------------------------------------
                                        Name: Leanne Stavrakis
                                        Title: Director - Operations

                                        Centurion CDO VI, Ltd.

                                        By: American Express Asset Management
                                        Group, Inc. as Collateral Manager

                                        By: /s/ LEANNE STAVRAKIS
                                        ----------------------------------------
                                        Name: Leanne Stavrakis
                                        Title: Director - Operations

                                        AIB Debt Managemetn LTD

                                        By: /s/ RIMA TERRADISTA
                                        ----------------------------------------
                                        Name: Rima Terradista
                                        Title: Vice President

                                        Sequilis - Centurion V, Ltd.

                                        By: American Express Asset Management
                                        Group Inc. as Collateral Manager

                                        By: /s/ LEANNE STRAVRAKIS
                                        ----------------------------------------
                                        Name: Leanne Stravrakis
                                        Title: Director - Operations

<PAGE>

                                        C-SQUARED CDO LTD.

                                        By: TCW Advisors, Inc., as its Portfolio
                                        Manager

                                        By: /s/ G. STEVEN KALIN
                                        ----------------------------------------
                                        Name: G. Steven Kalin
                                        Title: Vice President

                                        ELF Funding Trust III

                                        By: New York Life Investment Management,
                                        LLC, as attorney-in-fact

                                        By: /s/ F. David Melka
                                        ----------------------------------------
                                        Name: F. David Melka
                                        Title: Vice President

                                        Octagon Investment Partners III, Ltd.

                                        By: Octagon Credit Investors, LLC as
                                        Portfolio Manager

                                        By: /s/ ANDREW D. GORDON
                                        ----------------------------------------
                                        Name: Andrew D. Gordon
                                        Title: Portfolio Manager

                                        General Electric Capital Corporation

                                        By: /s/ W. JEROME MCDERMOTT
                                        ----------------------------------------
                                        Name: W. Jerome McDermott
                                        Title: Duly Authorized Signatory

                                        IKB Capital Corporation

                                        By: /s/ DAVID SNYDER
                                        ----------------------------------------
                                        Name: David Snyder
                                        Title: President

                                        INDOSUEZ CAPITAL FUNDING VI, LIMITED

                                        By: Indosuez Capital as Collateral
                                        Manager

                                        By: /s/ PAUL O. TRAVERS
                                        ----------------------------------------
                                        Name: Paul O. Travers
                                        Title: Managing Director

                                        NEMEAN CLO, LTD.

                                        By: ING Capital Advisors LLC, as
                                        Investing Manager

                                        By: /s/ HELEN Y. RHEE
                                        ----------------------------------------
                                        Name: Helen Y. Rhee
                                        Title: Senior Vice President
                                                Portfolio Manager

<PAGE>

                                        ARCHIMEDES FUNDING IV (CAYMAN), LTD.

                                        By: ING Capital Advisors LLC, as
                                        Collateral Manager

                                        By: /s/ HELEN Y. RHEE
                                        ----------------------------------------
                                        Name: Helen Y. Rhee
                                        Title: Senior Vice President
                                                Portfolio Manager

                                        ING PRIME RATE TRUST

                                        By: ING Investments, LLC, as Investment
                                        Manager

                                        By: /s/ JEFFREY A. BAKALAR
                                        ----------------------------------------
                                        Name: Jeffrey A. Bakalar
                                        Title: Senior Vice President

                                        PILGRIM CLO 1999-I LTD.

                                        By: ING Investments, LLC, as Investment
                                        Manager

                                        By: /s/ JEFFREY A. BAKALAR
                                        ----------------------------------------
                                        Name: Jeffrey A. Bakalar
                                        Title: Senior Vice President

                                        AVALON CAPITAL LTD.2

                                        By: INVESCO Senior Secured Management,
                                        Inc. As Portfolio Advisor

                                        By: /s/ THOMAS H.B. EWALD
                                        ----------------------------------------
                                        Name: Thomas H.B. Ewald
                                        Title: Authorized Signatory

                                        SEQUILIS-LIBERTY, LTD.

                                        By: INVESCO Senior Secured Management,
                                        Inc. As Collateral Manager

                                        By: /s/ THOMAS H.B. EWALD
                                        ----------------------------------------
                                        Name: Thomas H.B. Ewald
                                        Title: Authorized Signatory

                                        CHARTER VIEW PORTFOLIO

                                        By: INVESCO Senior Secured Management,
                                        Inc. As Investment Advisor

                                        By: /s/ THOMAS H.B. EWALD
                                        ----------------------------------------
                                        Name: Thomas H.B. Ewald
                                        Title: Authorized Signatory

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