Document:

EX-10.14

 Exhibit 10.14 

EXECUTION VERSION 
  

 
  

GUARANTEE AGREEMENT 
 dated as of

 August 8, 2012, 
 among

 BLUE PET PRODUCTS, INC., 
 as
Holdings, 
 and 
 THE
SUBSIDIARY GUARANTORS 
 IDENTIFIED HEREIN, 

and 
 CITIBANK, N.A., 

as Administrative Agent 
  

 
  

 TABLE OF CONTENTS 
  

							
	 	 	 	  	Page	 
			
		 	ARTICLE I	  			
			
		 	DEFINITIONS	  			
	 SECTION 1.01.
	 	 Credit Agreement
	  	 	1	  
	 SECTION 1.02.
	 	 Other Defined Terms
	  	 	1	  
			
		 	ARTICLE II	  			
			
		 	THE GUARANTEES	  			
			
	 SECTION 2.01.
	 	 Guarantee
	  	 	2	  
	 SECTION 2.02.
	 	 Guarantee of Payment; Continuing Guarantee
	  	 	3	  
	 SECTION 2.03.
	 	 No Limitations on Guarantee
	  	 	3	  
	 SECTION 2.04.
	 	 Reinstatement
	  	 	5	  
	 SECTION 2.05.
	 	 Agreement to Pay; Subrogation
	  	 	5	  
	 SECTION 2.06.
	 	 Information
	  	 	5	  
	 SECTION 2.07.
	 	 Immediate Recourse
	  	 	5	  
	 SECTION 2.08.
	 	 Payments Free of Taxes
	  	 	5	  
			
		 	ARTICLE III	  			
			
		 	SUBROGATION AND SUBORDINATION	  			
			
	 SECTION 3.01.
	 	 Contribution and Subrogation
	  	 	5	  
	 SECTION 3.02.
	 	 Subordination
	  	 	6	  
			
		 	ARTICLE IV	  			
			
		 	REPRESENTATIONS AND WARRANTIES	  			
			
		 	ARTICLE V	  			
			
		 	MISCELLANEOUS	  			
			
	 SECTION 5.01.
	 	 Notices
	  	 	6	  
	 SECTION 5.02.
	 	 Waivers; Amendment
	  	 	6	  
	 SECTION 5.03.
	 	 Administrative Agent’s Fees and Expenses; Indemnification
	  	 	7	  
	 SECTION 5.04.
	 	 Successors and Assigns
	  	 	7	  
	 SECTION 5.05.
	 	 Survival of Agreement
	  	 	7	  
	 SECTION 5.06.
	 	 Counterparts; Effectiveness; Several Agreement
	  	 	7	  
	 SECTION 5.07.
	 	 Severability
	  	 	8	  
	 SECTION 5.08.
	 	 Right of Set-Off
	  	 	8	  
	 SECTION 5.09.
	 	 Governing Law; Jurisdiction; Consent to Service of Process; Appointment of Service of Process Agent
	  	 	8	  
	 SECTION 5.10.
	 	 WAIVER OF JURY TRIAL
	  	 	9	  
	 SECTION 5.11.
	 	 Headings
	  	 	10	  

  
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	 	 	 	  	Page	 
			
	 SECTION 5.12.
	 	 Termination or Release
	  	 	10	  
	 SECTION 5.13.
	 	 Additional Guarantors
	  	 	10	  
	 SECTION 5.14.
	 	 Currency of Payments of Guaranteed Obligations
	  	 	10	  

 EXHIBITS: 
  

					
	Exhibit A	 	—	  	Form of Guarantee Supplement

  
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 GUARANTEE AGREEMENT dated as of August 8, 2012 (this “Agreement”),
among BLUE PET PRODUCTS, INC., a Delaware corporation (“Holdings”), the SUBSIDIARY GUARANTOR identified herein, CITIBANK, N.A., as Administrative Agent, a Swingline Lender and an Issuing Bank on behalf of itself and the other
Guaranteed Parties. 
 Reference is made to the Credit Agreement dated as of August 8, 2012 (as amended, restated, amended and
restated, supplemented, extended, refinanced or otherwise modified from time to time, the “Credit Agreement”), among Holdings, Blue Buffalo Company, Ltd., a Delaware corporation (the “Borrower”), the lenders from
time to time party thereto and Citibank, N.A., as Administrative Agent, a Swingline Lender and an Issuing Bank. The Lenders and the Issuing Banks have agreed to extend credit to the Borrower subject to the terms and conditions set forth in the
Credit Agreement. The obligations of the Lenders and the Issuing Banks to extend such credit are conditioned upon, among other things, the execution and delivery of this Agreement. Holdings and the Subsidiary Guarantors are affiliates of the
Borrower, will derive substantial benefits from the extension of credit to the Borrower pursuant to the Credit Agreement and are willing to execute and deliver this Agreement in order to induce the Lenders and the Issuing Banks to extend such
credit. Accordingly, the parties hereto agree as follows: 
 ARTICLE I 

Definitions 
 SECTION
1.01. Credit Agreement. 
 (a) Capitalized terms used in this Agreement (including in the introductory paragraph hereto) and not
otherwise defined herein have the meanings specified in the Credit Agreement. 
 (b) The rules of construction specified in
Section 1.03 of the Credit Agreement also apply to this Agreement, mutatis mutandis. 
 SECTION 1.02. Other Defined
Terms. As used in this Agreement, the following terms have the meanings specified below: 
 “Agreement” has the meaning
assigned to such term in the preamble to this Agreement. 
 “Borrower” has the meaning assigned to such term in the
preamble to this Agreement. 
 “Claiming Party” has the meaning assigned to such term in Section 3.01. 

“Contributing Party” has the meaning assigned to such term in Section 3.01. 

“Credit Agreement” has the meaning assigned to such term in the introductory paragraph to this Agreement. 

“Guarantee Supplement” means an instrument substantially in the form of Exhibit A hereto, or any other form reasonably
satisfactory to the Administrative Agent. 
 “Guaranteed Cash Management Obligations” means the due and punctual payment
and performance of all obligations of Holdings, the Borrower and the Restricted Subsidiaries in respect of (unless otherwise elected by the Borrower) any overdraft and related liabilities arising from treasury, depository and cash management
services or any automated clearing house transfers of funds provided to Holdings, the Borrower or any Restricted Subsidiary (whether absolute or contingent and howsoever and 

 
whensoever created, arising, evidenced or acquired (including all renewals, extensions and modifications thereof and substitutions therefor)) that are (a) owed to the Administrative Agent or
any of its Affiliates, (b) owed on the Effective Date to a Person that is a Lender or an Affiliate of a Lender as of the Effective Date (or who becomes a Lender or an Affiliate of a Lender within 30 days of the Effective Date) or (c) owed
to a Person that is a Lender or an Affiliate of a Lender at the time such obligations are incurred or shall become a Lender or an Affiliate of a Lender after it has incurred such obligations. 

“Guaranteed Obligations” means (a) the Loan Document Obligations, (b) the Guaranteed Cash Management Obligations
and (c) the Guaranteed Swap Obligations. 
 “Guaranteed Parties” means (a) each Lender, (b) each Issuing
Bank, (c) the Administrative Agent, (d) each Person to whom any Guaranteed Cash Management Obligations are owed, (e) each counterparty to any Swap Agreement the obligations under which constitute Guaranteed Swap Obligations,
(f) the beneficiaries of each indemnification obligation undertaken by any Loan Party under any Loan Document and (g) the permitted successors and assigns of each of the foregoing. 

“Guaranteed Swap Obligations” means the due and punctual payment and performance of all obligations of Holdings, the Borrower
and the Restricted Subsidiaries under (unless otherwise elected by the Borrower) each Swap Agreement that (a) is with a counterparty that is the Administrative Agent or any of its Affiliates, (b) is in effect on the Effective Date with a
counterparty that is a Lender or an Affiliate of a Lender as of the Effective Date (or who becomes a Lender or an Affiliate of a Lender within 30 days of the Effective Date) or (c) is entered into after the Effective Date with any counterparty
that is a Lender or an Affiliate of a Lender at the time such Swap Agreement is entered into or shall become a Lender or an Affiliate of a Lender after it has entered into such agreement. 

“Guarantors” means Holdings and the Subsidiary Guarantors. 

“Holdings” has the meaning assigned to such term in the preamble to this Agreement. 

“Loan Documents” means the Credit Agreement and the other “Loan Documents” as defined in the Credit Agreement. 

“Subsidiary Guarantors” means the Subsidiaries signatory hereto and each other Subsidiary that becomes a party to this
Agreement as a Subsidiary Guarantor after the Effective Date pursuant to Section 5.13; provided that if a Subsidiary is released from its obligations as a Subsidiary Guarantor hereunder as provided in Section 5.12(b), such
Subsidiary shall cease to be a Subsidiary Guarantor hereunder effective upon such release. 
 ARTICLE II 

The Guarantees 
 SECTION
2.01. Guarantee. Each Guarantor irrevocably and unconditionally guarantees to each of the Guaranteed Parties, jointly with the other Guarantors and severally, as a primary obligor and not merely as a surety, by way of an independent payment
obligation, the due and punctual payment and performance of the Guaranteed Obligations. Each Guarantor further agrees that the Guaranteed Obligations may be extended or renewed, in whole or in part, or amended or modified, without notice to or
further assent from it, and that it will remain bound upon its guarantee hereunder notwithstanding any such extension or renewal, or amendment or modification, of any of the Guaranteed Obligations. Each Guarantor waives presentment to, demand of
payment from and protest to the Borrower or any other Loan Party of any of the Guaranteed Obligations, and also waives notice of acceptance of its guarantee and notice of protest for nonpayment. 

  
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 SECTION 2.02. Guarantee of Payment; Continuing Guarantee. Each Guarantor further agrees
that its guarantee hereunder constitutes a guarantee of payment when due (whether or not any bankruptcy or similar proceeding shall have stayed the accrual of collection of any of the Guaranteed Obligations or operated as a discharge thereof) and
not merely of collection, and waives any right to require that any resort be had by the Administrative Agent or any other Guaranteed Party to any security held for the payment of any of the Guaranteed Obligations or to any balance of any deposit
account or credit on the books of the Administrative Agent or any other Guaranteed Party in favor of the Borrower, any other Loan Party or any other Person. Each Guarantor agrees that its guarantee hereunder is continuing in nature and applies to
all of its Guaranteed Obligations, whether currently existing or hereafter incurred. 
 SECTION 2.03. No Limitations on Guarantee.

 (a) Except for the termination or release of a Guarantor’s obligations hereunder as expressly provided in Section 5.12, the
obligations of each Guarantor hereunder shall not be subject to any reduction, limitation, impairment or termination for any reason, including any claim of waiver, release, surrender, alteration or compromise of any of the Guaranteed Obligations,
and shall not be subject to any defense or set-off, counterclaim, recoupment or termination whatsoever by reason of the invalidity, illegality or unenforceability of any of the Guaranteed Obligations, any impossibility in the performance of any
of the Guaranteed Obligations or otherwise. Without limiting the generality of the foregoing, except for the termination or release of its obligations hereunder as expressly provided in Section 5.12 to the fullest extent permitted by applicable
law, the obligations of each Guarantor hereunder shall not be discharged or impaired or otherwise affected by: 
 (i) the
failure of any Guaranteed Party or any other Person to assert any claim or demand or to enforce any right or remedy under the provisions of any Loan Document or otherwise; 

(ii) any rescission, waiver, amendment, restatement or modification of, or any release from any of the terms or provisions of,
any Loan Document or any other agreement, including with respect to any other Guarantor under this Agreement; 
 (iii) the
release of, or any impairment of or failure to perfect any Lien on, any security held by any Guaranteed Party for any of the Guaranteed Obligations; 

(iv) any default, failure or delay, willful or otherwise, in the performance of any of the Guaranteed Obligations; 

(v) any other act or omission that may or might in any manner or to any extent vary the risk of any Guarantor or otherwise
operate as a discharge of any Guarantor as a matter of law or equity (other than the payment in full in cash of all the Loan Document Obligations (including LC Disbursements, if any, but excluding contingent obligations and obligations in respect of
Letters of Credit which have been Cash Collateralized in accordance with the Credit Agreement)); 
 (vi) any illegality, lack
of validity or lack of enforceability of any of the Guaranteed Obligations; 

  
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 (vii) any change in the corporate existence, structure or ownership of any Loan
Party, or any insolvency, bankruptcy, reorganization or other similar proceeding affecting any Loan Party or its assets or any resulting release or discharge of any of the Guaranteed Obligations; 

(viii) the existence of any claim, set-off or other rights that any Guarantor may have at any time against the Borrower, the
Administrative Agent, any other Guaranteed Party or any other Person, whether in connection with the Credit Agreement, the other Loan Documents or any unrelated transaction; 

(ix) this Agreement having been determined (on whatsoever grounds) to be invalid, non-binding or unenforceable against any
other Guarantor ab initio or at any time after the Effective Date; 
 (x) the fact that any Person that, pursuant to
the Loan Documents, was required to become a party hereto may not have executed or is not effectually bound by this Agreement, whether or not this fact is known to the Guaranteed Parties 

(xi) any action permitted or authorized hereunder (except as set out in Section 5.12); or 

(xii) any other circumstance (including any statute of limitations), or any existence of or reliance on any representation by
the Administrative Agent, any Guaranteed Party or any other Person, that might otherwise constitute a defense to, or a legal or equitable discharge of, the Borrower, any Guarantor or any other guarantor or surety (other than the payment in full in
cash of all the Loan Document Obligations (including LC Disbursements, if any, but excluding contingent obligations and obligations in respect of Letters of Credit which have been Cash Collateralized in accordance with the Credit Agreement)). 

Each Guarantor expressly authorizes the Guaranteed Parties to take and hold security in accordance with the terms of the Loan Documents for
the payment and performance of the Guaranteed Obligations, to exchange, waive or release any or all such security (with or without consideration), to enforce or apply such security and direct the order and manner of any sale thereof in their sole
discretion or to release or substitute any one or more other guarantors or obligors upon or in respect of the Guaranteed Obligations, all without affecting the obligations of any Guarantor hereunder. 

(b) To the fullest extent permitted by applicable law, each Guarantor waives any defense based on or arising out of any defense of the
Borrower or any other Loan Party or the unenforceability of the Guaranteed Obligations or any part thereof from any cause, or the cessation from any cause of the liability of the Borrower or any other Loan Party, other than the payment in full in
cash of all the Loan Document Obligations (including LC Disbursements, if any, but excluding contingent obligations and obligations in respect of Letters of Credit which have been Cash Collateralized in accordance with the Credit Agreement). The
Administrative Agent and the other Guaranteed Parties may, at their election and in accordance with the terms of the Loan Documents, foreclose on any security held by one or more of them by one or more judicial or nonjudicial sales, accept an
assignment of any such security in lieu of foreclosure, compromise or adjust any part of the Guaranteed Obligations, make any other accommodation with the Borrower or any other Loan Party or exercise any other right or remedy available to them
against the Borrower or any other Loan Party, without affecting or impairing in any way the liability of any Guarantor hereunder except to the extent the Loan Document Obligations have been paid in full in cash (including LC Disbursements, if any,
but excluding contingent obligations and obligations in respect of Letters of Credit which have been Cash Collateralized in accordance with the Credit Agreement). To the fullest extent permitted by applicable law, each Guarantor waives any defense
arising out of any such 

  
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election even though such election operates, pursuant to applicable law, to impair or to extinguish any right of reimbursement or subrogation or other right or remedy of such Guarantor against
the Borrower or any other Loan Party, as the case may be, or any security. 
 SECTION 2.04. Reinstatement. Each Guarantor agrees
that, unless released pursuant to Section 5.12(b), its guarantee hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Guaranteed Obligations is rescinded or must
otherwise be restored by any Guaranteed Party upon the bankruptcy or reorganization (or any analogous proceeding in any jurisdiction) of the Borrower, any other Loan Party or otherwise. 

SECTION 2.05. Agreement to Pay; Subrogation. In furtherance of the foregoing and not in limitation of any other right that the
Administrative Agent or any other Guaranteed Party has at law or in equity against any Guarantor by virtue hereof, upon the failure of the Borrower or any other Loan Party to pay any Guaranteed Obligation when and as the same shall become due,
whether at maturity, by acceleration, after notice of prepayment or otherwise, each Guarantor hereby promises to and will forthwith pay, or cause to be paid, to the Administrative Agent for distribution to the applicable Guaranteed Parties in cash
the amount of such unpaid Guaranteed Obligation. Upon payment by any Guarantor of any sums to the Administrative Agent as provided above, all rights of such Guarantor against the Borrower or any other Loan Party arising as a result thereof by way of
right of subrogation, contribution, reimbursement, indemnity or otherwise shall in all respects be subject to Article III. 
 SECTION
2.06. Information. Each Guarantor assumes all responsibility for being and keeping itself informed of the Borrower’s and each other Loan Party’s financial condition and assets, and of all other circumstances bearing upon the risk of
nonpayment of the Guaranteed Obligations and the nature, scope and extent of the risks that such Guarantor assumes and incurs hereunder, and agrees that none of the Guaranteed Parties will have any duty to advise such Guarantor of information known
to it or any of them regarding such circumstances or risks. 
 SECTION 2.07. Immediate Recourse. Each Subsidiary Guarantor waives any
right it may have of first requiring any Loan Party (or any trustee or agent on its behalf) to proceed against or enforce any other rights or security or claim payment from any person before claiming from that Subsidiary Guarantor under this
Agreement. This waiver applies irrespective of any law or any provision of a Loan Document to the contrary. 
 SECTION 2.08. Payments
Free of Taxes. The provisions of Section 2.17 of the Credit Agreement shall apply to each Guarantor, mutatis mutandis. 

ARTICLE III 
 Subrogation and
Subordination 
 SECTION 3.01. Contribution and Subrogation. Each Guarantor (a “Contributing Party”) agrees
(subject to Section 3.02) that, in the event a payment shall be made by any other Guarantor (the “Claiming Party”) hereunder in respect of any Guaranteed Obligations or assets of any other Guarantor shall be sold pursuant to
any Security Document to satisfy any Guaranteed Obligation owed to any Guaranteed Party, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market
value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof (or, in the case of any Guarantor becoming a party hereto pursuant to
Section 5.13, the date of the Guarantee Supplement executed and delivered by such Guarantor) and the denominator shall be the aggregate net worth of all the Guarantors on the date hereof (or, in the case of any Guarantor becoming a party hereto
pursuant to Section 5.13, such other date). 

  
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 SECTION 3.02. Subordination. 

(a) Notwithstanding any provision of this Agreement to the contrary, all rights of the Guarantors under Section 3.01 and all other rights
of the Guarantors of contribution or subrogation under applicable law or otherwise shall be fully subordinated to the payment in full in cash of all the Loan Document Obligations (including LC Disbursements, if any, but excluding contingent
obligations and obligations in respect of Letters of Credit which have been Cash Collateralized in accordance with the Credit Agreement). No failure on the part of the Borrower or any Guarantor to make the payments required by Section 3.01 (or
any other payments required under applicable law or otherwise) shall in any respect limit the obligations and liabilities of any Guarantor with respect to its obligations hereunder, and each Guarantor shall remain liable for the full amount of the
obligations of such Guarantor hereunder. 
 (b) Each Guarantor hereby agrees that upon the occurrence and during the continuance of an Event
of Default and after notice from the Administrative Agent (provided that no such notice shall be required to be given in the case of any Event of Default arising under Section 7.01(h) or 7.01(i) of the Credit Agreement), all Indebtedness
and other monetary obligations owed by it to any Guarantor, or to it by any other Guarantor or any other Restricted Subsidiary shall be fully subordinated to the payment in full in cash of all the Loan Document Obligations (including LC
Disbursements, if any, but excluding contingent obligations and obligations in respect of Letters of Credit which have been Cash Collateralized in accordance with the Credit Agreement). 

ARTICLE IV 
 Representations
and Warranties 
 Each Subsidiary Guarantor represents and warrants to the Administrative Agent and the other Guaranteed Parties that
the representations and warranties set forth in the Credit Agreement applicable to such Subsidiary Guarantor are true and correct on each date as required by Article IV of the Credit Agreement. 

ARTICLE V 
 Miscellaneous

 SECTION 5.01. Notices. All communications and notices hereunder shall (except as otherwise expressly permitted herein) be in
writing and given as provided in Section 9.01 of the Credit Agreement. All communications and notices hereunder to any Subsidiary Guarantor shall be given to it in care of the Borrower as provided in Section 9.01 of the Credit Agreement.

 SECTION 5.02. Waivers; Amendment. 

(a) No failure or delay by the Administrative Agent, any Issuing Bank or any Lender in exercising any right or power hereunder or under any
other Loan Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise
thereof or the exercise of any other right or power. The rights and remedies of the Administrative Agent, the Issuing Banks and the Lenders hereunder and under the other Loan Documents are cumulative and are not exclusive of any rights or remedies
that they would otherwise have. No waiver of any provision of this 

  
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Agreement or consent to any departure by any Loan Party therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) of this Section 5.02, and then such
waiver or consent shall be effective only in the specific instance and for the purpose for which given. Without limiting the generality of the foregoing, the making of a Loan or issuance of a Letter of Credit shall not be construed as a waiver of
any Default, regardless of whether the Administrative Agent, any Lender or any Issuing Bank may have had notice or knowledge of such Default at the time. No notice or demand on any Loan Party in any case shall entitle any Loan Party to any other or
further notice or demand in similar or other circumstances. 
 (b) Neither this Agreement nor any provision hereof may be waived, amended or
modified except pursuant to an agreement or agreements in writing entered into by the Administrative Agent and the Guarantor or Guarantors with respect to which such waiver, amendment or modification is to apply, subject to any consent required in
accordance with Section 9.02 of the Credit Agreement; provided that the Administrative Agent may, without the consent of any Guaranteed Party, consent to a departure by any Guarantor from any covenant of such Guarantor set forth herein
to the extent such departure is consistent with the authority of the Administrative Agent set forth in the definition of the term “Collateral and Guarantee Requirement” in the Credit Agreement. 

SECTION 5.03. Administrative Agent’s Fees and Expenses; Indemnification. The provisions of Section 9.03 of the Credit
Agreement shall apply to each Guarantor, mutatis mutandis. 
 SECTION 5.04. Successors and Assigns. Whenever in this Agreement any of
the parties hereto is referred to, such reference shall be deemed to include the permitted successors and assigns of such party; and all covenants, promises and agreements by or on behalf of any Guarantor or the Administrative Agent that are
contained in this Agreement shall bind and inure to the benefit of their respective successors and assigns. 
 SECTION 5.05. Survival of
Agreement. All covenants, agreements, representations and warranties made by the Loan Parties in this Agreement or any other Loan Document and in the certificates or other instruments delivered in connection with or pursuant to this Agreement or
any other Loan Document shall be considered to have been relied upon by the Guaranteed Parties and shall survive the execution and delivery of the Loan Documents and the making of any Loans and issuance of any Letters of Credit, regardless of any
investigation made by or on behalf of any Guaranteed Party and notwithstanding that the Administrative Agent, any Issuing Bank, any Lender or any other Guaranteed Party may have had notice or knowledge of any Default or incorrect representation or
warranty at the time any credit is extended under the Credit Agreement or any other Loan Document, and shall continue in full force and effect until such time as (a) all the Loan Document Obligations (including LC Disbursements, if any, but
excluding contingent obligations and obligations in respect of Letters of Credit which have been Cash Collateralized in accordance with the Credit Agreement) have been paid in full in cash, (b) all Commitments have terminated or expired and
(c) the LC Exposure has been reduced to zero (including as a result of obtaining the consent of the applicable Issuing Bank as described in Section 9.05 of the Credit Agreement). Each of the Guarantors agrees that its obligations hereunder
and the security interest created hereunder shall continue to be effective or be reinstated, as applicable, if at any time payment, or any part thereof, of all or any part of the Guaranteed Obligations is rescinded or must otherwise be restored by
the Guaranteed Party upon the bankruptcy or reorganization of any Guarantor or otherwise. 
 SECTION 5.06. Counterparts; Effectiveness;
Several Agreement. This Agreement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original but all of which when taken together shall constitute a single contract.
Delivery of an executed signature page to this Agreement by facsimile or other electronic transmission shall be effective as delivery of a manually signed counterpart of this Agreement. This Agreement shall become

  
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effective as to any Guarantor when a counterpart hereof executed on behalf of such Guarantor shall have been delivered to the Administrative Agent and a counterpart hereof shall have been
executed on behalf of the Administrative Agent, and thereafter shall be binding upon such Guarantor and the Administrative Agent and their respective permitted successors and assigns, and shall inure to the benefit of such Guarantor, the
Administrative Agent and the other Guaranteed Parties and their respective successors and assigns, except that no Guarantor shall have the right to assign or transfer its rights or obligations hereunder or any interest herein (and any such
assignment or transfer shall be void) except as expressly provided in this Agreement and the Credit Agreement. This Agreement shall be construed as a separate agreement with respect to each Guarantor and may be amended, modified, supplemented,
waived or released with respect to any Guarantor without the approval of any other Guarantor and without affecting the obligations of any other Guarantor hereunder. 

SECTION 5.07. Severability. Any provision of this Agreement held to be invalid, illegal or unenforceable in any jurisdiction shall, as
to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof; and the invalidity of a particular provision in a
particular jurisdiction shall not invalidate such provision in any other jurisdiction. The parties hereto shall endeavor in good faith negotiations to replace any invalid, illegal or unenforceable provisions with valid, legal and enforceable
provisions the economic effect of which comes as close as reasonably possible to that of the invalid, illegal or unenforceable provisions. 

SECTION 5.08. Right of Set-Off. The provisions of Section 9.08 of the Credit Agreement shall apply to each Guarantor, mutatis
mutandis. 
 SECTION 5.09. Governing Law; Jurisdiction; Consent to Service of Process; Appointment of Service of Process Agent. 

(a) This Agreement shall be construed and enforced in accordance with and governed by the laws of the State of New York. 

(b) Each party hereto hereby irrevocably and unconditionally: 

(i) submits for itself and its property in any legal action or proceeding relating to this Agreement and the other Loan
Documents to which it is a party, or for recognition and enforcement of any judgment in respect thereof, to the general and exclusive jurisdiction of the Supreme Court of the State of New York for the County of New York (the “New York
Supreme Court”), and the United States District Court for the Southern District of New York (the “Federal District Court,” and together with the New York Supreme Court, the “New York Courts”), and appellate
courts from either of them; 
 (ii) consents that any such action or proceeding may be brought in such courts and waives, to
the maximum extent not prohibited by law, any objection that it may now or hereafter have to the venue of any such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient forum and agrees not to plead
or claim the same; 
 (iii) agrees that the New York Courts and appellate courts from either of them shall be the exclusive
forum for any legal action or proceeding relating to this Agreement and the other Loan Documents to which it is a party, and that it shall not initiate (or collusively assist in the initiation or prosecution of) any such action or proceeding in any
court other than the New York Courts and appellate courts from either of them; provided that: 
 (A) if all such New
York Courts decline jurisdiction over any Person, or decline (or in the case of the Federal District Court, lack) jurisdiction over the subject matter of such action or proceeding, a legal action or proceeding may be brought with respect thereto in
another court having such jurisdiction; 

  
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 (B) in the event that a legal action or proceeding is brought against any party
hereto or involving any of its property or assets in another court (without any collusive assistance by such party or any of its Subsidiaries or Affiliates), such party shall be entitled to assert any claim or defense (including any claim or defense
that this Section 5.09(b)(iii) would otherwise require to be asserted in a legal action or proceeding in a New York Court) in any such action or proceeding; 

(C) the Administrative Agent and the Lenders may bring any legal action or proceeding against any Guarantor in any jurisdiction
in connection with the enforcement of any rights under this Agreement and the other Security Documents; provided that any Guarantor shall be entitled to assert any claim or defense (including any claim or defense that this
Section 5.09(b)(iii) would otherwise require to be asserted in a legal action or proceeding in a New York Court) in any such action or proceeding; and 

(D) any party hereto may bring any legal action or proceeding in any jurisdiction for the recognition and enforcement of any
judgment; 
 (iv) agrees that service of process in any such action or proceeding may be effected by mailing a copy thereof
by registered or certified mail (or any substantially similar form of mail), postage prepaid, to the Borrower, the applicable Lender or the Administrative Agent, as the case may be, in the manner provided for notices in Section 5.01 or at such
other address of which the Administrative Agent, any such Lender and the Borrower shall have been notified pursuant thereto; and 

(v) agrees that nothing herein shall affect the right to effect service of process in any other manner permitted by law or
(subject to the preceding clause (iii)) shall limit the right to sue in any other jurisdiction. 
 (c) Each Subsidiary Guarantor hereby
irrevocably designates, appoints and empowers the Borrower as its designee, appointee and agent to receive, accept and acknowledge for and on its behalf, and in respect of its property, service of any and all legal process, summons, notices and
documents that may be served in any such action or proceeding. 
 SECTION 5.10. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY
WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT, ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED
HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN
THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND
CERTIFICATIONS IN THIS SECTION 5.10. 

  
 -9- 

 SECTION 5.11. Headings. Article and Section headings and the Table of Contents used herein
are for convenience of reference only, are not part of this Agreement and shall not affect the construction of, or to be taken into consideration in interpreting, this Agreement. 

SECTION 5.12. Termination or Release. 

(a) Subject to Section 2.04, this Agreement and the Guarantees made herein shall terminate when (i) all the Loan Document
Obligations (including LC Disbursements, if any, but excluding contingent obligations and obligations in respect of Letters of Credit which have been Cash Collateralized in accordance with the Credit Agreement) have been paid in full in cash,
(ii) all Commitments have terminated or expired and (iii) the LC Exposure has been reduced to zero (including as a result of obtaining the consent of the applicable Issuing Bank as described in Section 9.05 of the Credit Agreement).

 (b) The guarantee of any Person that becomes a Successor Borrower in accordance with Section 6.05(a) of the Credit Agreement shall
terminate and be released at the time such Person becomes a Successor Borrower. 
 (c) The guarantees made herein shall also terminate and
be released at the time or times and in the manner set forth in Section 9.15 of the Credit Agreement. 
 (d) In connection with any
termination or release pursuant to paragraph (a), (b) or (c) of this Section, the Administrative Agent shall execute and deliver to any Loan Party, at such Loan Party’s expense, all documents that such Loan Party shall reasonably
request to evidence such termination or release so long as the applicable Loan Party shall have provided the Administrative Agent such certifications or documents as the Administrative Agent shall reasonably request in order to demonstrate
compliance with this Section 5.12. Any execution and delivery of documents by the Administrative Agent pursuant to this Section 5.12 shall be without recourse to or warranty by the Administrative Agent. 

SECTION 5.13. Additional Guarantors. Pursuant to the Credit Agreement, additional Subsidiaries may be required to become Guarantors
after the date hereof. Upon execution and delivery by the Administrative Agent and a Subsidiary of a Guarantee Supplement, any such Subsidiary shall become a Guarantor hereunder with the same force and effect as if originally named as such herein.
The execution and delivery of any such instrument shall not require the consent of any other Guarantor hereunder. The rights and obligations of each Guarantor hereunder shall remain in full force and effect notwithstanding the addition of any
Subsidiary as a party to this Agreement. 
 SECTION 5.14. Currency of Payments of Guaranteed Obligations. The obligations of the
Guarantors under this Agreement to make payments in the respective currency or currencies in which the respective Guaranteed Obligations are required to be paid (such currency being herein called the “Obligation Currency”) shall not be
discharged or satisfied by any tender or recovery pursuant to any judgment expressed in or converted into any currency other than the Obligation Currency, except to the extent that such tender or recovery results in the effective receipt by the
Administrative Agent or the other Secured Party of the full amount of the Obligation Currency expressed to be payable to the Administrative Agent or such other Secured Party under this Agreement or the other Loan Documents or any Guarantee Swap
Agreement or any Guaranteed Cash Management Obligations, as applicable. If for the purpose of obtaining or enforcing judgment against the Guarantors in any court or in any jurisdiction, it becomes necessary to convert into or from any currency
other than the Obligation Currency (such other currency being hereinafter referred to as the “Judgment Currency”) an amount due in the Obligation Currency, the conversion shall be made, at the rate of exchange (quoted by the Administrative
Agent, determined, in each case, as of the date immediately preceding the day on which the judgment is given (such Business Day being hereinafter referred to as the “Judgment Currency Conversion Date”). 

[Signature Pages Follow] 

  
 -10- 

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

					
	BLUE PET PRODUCTS, INC.,
		
	By:		 /s/ William W. Bishop

			Name:		William W. Bishop
			Title:		CEO
	
	SEIRRA PET PRODUCTS, LLC
	GREAT PLAINS LEASING LLC
	HEARTLAND PET FOODS MANUFACTURING, INC.
		
	By:		 /s/ William W. Bishop

			Name:		William W. Bishop
			Title:		CEO

 [signature page Blue Buffalo Guarantee Agreement] 

 
					
	CITIBANK, N.A., as Administrative Agent
		
	By:		 /s/ Kirkwood Roland

			Name:		Kirkwood Roland
			Title:		Director & Vice President

  
 [signature page Blue
Buffalo Guarantee Agreement]EX-10.15

 Exhibit 10.15 

Execution Version 
 AMENDMENT
AGREEMENT 
 AMENDMENT AGREEMENT NO. 1, dated as of December 6, 2012 (this “Amendment”), by and
among BLUE PET PRODUCTS, INC., a Delaware corporation (“Holdings”), BLUE BUFFALO COMPANY, LTD., a Delaware corporation (the “Borrower”), the other Loan Parties party hereto, the existing Lenders (the
“Existing Lenders”) under, and as defined in, the Credit Agreement (as hereinafter defined), comprising at least the Required Lenders, CITIBANK, N.A. (“Citibank”), as the Administrative Agent,
CITIGROUP GLOBAL MARKETS INC. and MORGAN STANLEY SENIOR FUNDING, INC., as the joint lead arrangers (the “Incremental Term B-1 Arrangers”) and the initial Incremental Term B-1 Lenders (as hereinafter defined). 

RECITALS: 
 WHEREAS,
reference is hereby made to the Credit Agreement, dated as of August 8, 2012 (as the same may be amended, restated, amended and restated, supplemented, extended, refinanced or otherwise modified from time to time, the “Credit
Agreement”), by and among the Borrower, Holdings, the Existing Lenders from time to time party thereto, Citibank in its capacities as the Administrative Agent, Swingline Lender and an Issuing Bank under the Credit Agreement (capitalized
terms used in this Amendment but not defined herein shall have the meaning assigned to such terms in the Credit Agreement) and the other financial institutions party thereto; 

WHEREAS, on the date hereof, the Borrower, Holdings, the Administrative Agent and the Existing Lenders comprising at least the Required
Lenders desire to amend the Credit Agreement pursuant to amendments authorized by Section 9.02 of the Credit Agreement to (i) modify Section 6.07 of the Credit Agreement to permit the payment of the Additional Specified Dividend (as
defined below) with the proceeds of Incremental Term B-1 Loans; (ii) extend the soft call protection provided under Section 2.11(a) to the first anniversary of the Amendment No. 1 Effective Date; and (iii) make certain other
modifications as set forth herein; 
 WHEREAS, the Borrower has notified the Administrative Agent that it is requesting Incremental Term
Loans be incurred pursuant to Section 2.20 of the Credit Agreement in an aggregate principal amount of $50,000,000; 
 WHEREAS,
pursuant to Section 2.20 of the Credit Agreement, the Borrower may establish Incremental Term Loans by, among other things, entering into one or more Incremental Amendments (including this Amendment) pursuant to the terms and conditions of the
Credit Agreement with each Existing Lender and/or Additional Lender agreeing to provide such Incremental Term Loans (each such Lender or Additional Lender agreeing to provide Incremental Term B-1 Loans (as
defined below) and any assignees thereof are referred to herein as “Incremental Term B-1 Lenders”) and the Administrative Agent; 

 WHEREAS, each Incremental Term B-1 Lender party hereto as
of the date hereof has indicated its willingness to lend Incremental Term B-1 Loans to the Borrower on the terms and conditions set forth herein; and 

WHEREAS, pursuant to Section 9.02 of the Credit Agreement, the consent of the Required Lenders is required for the effectiveness of
certain of the amendments to the Credit Agreement set forth in this Amendment, and such Required Lenders have agreed to consent to such amendments. 

NOW, THEREFORE, in consideration of the premises and agreements, provisions and covenants herein contained, the parties hereto agree as
follows: 
 Section 1. Incremental Term B-1 Loans. 

(a) Subject to the terms and conditions set forth herein and pursuant to the provisions of Section 2.20 of the Credit Agreement, the
Incremental Term B-1 Lenders hereby agree, on a several and not joint basis, to make Incremental Term B-1 Loans on the Amendment No. 1 Effective Date (as defined below), in an aggregate principal amount
not to exceed such Incremental Term B-1 Lender’s Incremental Term B-1 Commitments (as defined in this Amendment). The initial aggregate principal amount of Incremental Term B-1 Commitments shall be $50,000,000. 

Section 2. Amendment. Effective on the Amendment No. 1 Effective Date and subject to the satisfaction of the terms and
conditions set forth herein: 
 (a) The following definitions are hereby added to Section 1.01 of the Credit Agreement
in the appropriate alphabetical location: 
 “Additional Specified Dividend” means the dividends and
distribution to be paid by the Borrower on its Equity Interests (including related payments to optionholders with respect to such Equity Interests) on or about the Amendment No. 1 Effective Date in an aggregate amount not to exceed $50,000,000;
provided that the portion of the Additional Specified Dividend that is required to be used by the Borrower (or any of its Parent Entities) to make deferred payments to employees, officers, directors and other holders of options with respect
to such Equity Interests that are subject to vesting may be paid at any time after the Amendment No. 1 Effective Date in conjunction with the vesting of such options. 

“Amendment No. 1” means Amendment Agreement No. 1 to this Agreement, dated as of
December 6, 2012, by and among Holdings, the Borrower, the Incremental Term B-1 Lenders party thereto, the other Loan Parties thereto, the Administrative Agent and the existing Lenders under this Agreement party thereto comprising at least the
Required Lenders. 
 “Amendment No. 1 Effective Date” means the first Business Day on which all
of the conditions precedent set forth in Section 5 of Amendment No. 1 have been satisfied or waived, which date is December 6, 2012. 

  
 -2- 

 “Incremental Term B-1
Commitment” means in the case of each Lender that is a Lender on the Amendment No. 1 Effective Date, the amount set forth opposite such Lender’s name on Schedule 1.1 to Amendment No. 1 as such Lender’s
“Incremental Term B-1 Commitment”. The aggregate amount of the Incremental Term B-1 Commitments as of the Amendment No. 1 Effective Date is $50,000,000. 

“Incremental Term B-1 Facility” means the Incremental Term B-1
Commitments and the Incremental Term B-1 Loans. 
 “Incremental Term B-1 Lenders” means, at any time, any Lender that has an Incremental Term B-1 Commitment at such time or that holds any Incremental Term B-1 Loans at any time.

 “Incremental Term B-1 Loans” has the meaning assigned to
such term in Section 2.01(c). 
 “Incremental Term B-1 Maturity
Date” means the Initial Term Maturity Date. 
 “Incremental Term Facility” means each
tranche of Incremental Term Loans established pursuant to Section 2.20 and, for the avoidance of doubt, shall include the Incremental Term B-1 Facility. 

“Total Incremental Term B-1 Commitment” means the sum of the Incremental Term B-1 Commitments of all
Incremental Term B-1 Lenders. 
 (b) Each of the following definitions set forth in
Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety as follows: 
 “Adjusted
Eurocurrency Rate” means, with respect to any Eurocurrency Borrowing for any Interest Period, an interest rate per annum (rounded upwards, if necessary, to the next 1/100 of 1%) equal to the greater of (a) (i) the Eurocurrency
Rate for such Interest Period multiplied by (ii) the Statutory Reserve Rate and (b) in the case of the Initial Term Loans and Incremental Term B-1 Loans only, 1.25%. 

“Alternate Base Rate” means, for any day, a rate per annum equal to the greatest of (a) the Prime
Rate in effect on such day, (b) the Federal Funds Effective Rate in effect on such day plus 1/2 of 1%, (c) the Eurocurrency Rate determined pursuant to clause (b) of the definition thereof on such date (or if such day is not a
Business Day, the immediately preceding Business Day) for a deposit in Dollars with a maturity of one month plus 1% and (d) in the case of the Initial Term Loans and Incremental Term B-1 Loans only, 2.25%. Any change in the Alternate Base Rate
due to a change in the Prime Rate, the Federal Funds Effective Rate or the Eurocurrency Rate shall be effective from and including the effective date of such change in the Prime Rate, the Federal Funds Effective Rate or the Eurocurrency Rate,
respectively. 

  
 -3- 

 “Class” when used in reference to (a) any Loan or
Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are Revolving Loans, Incremental Revolving Loans, Extended Revolving Loans (and related swingline loans thereunder), Initial Term Loans, Incremental Term Loans, Extended
Term Loans or Swingline Loans, (b) any Commitment, refers to whether such Commitment is a Revolving Commitment, Incremental Revolving Commitment (of the same series and any related swingline commitments thereunder), Extended Revolving
Commitment (of the same series and any related swingline commitments thereunder), Initial Term Commitment, or Incremental Term Commitment and (c) any Lender, refers to whether such Lender has a Loan or Commitment with respect to a particular
Class of Loans or Commitments. Incremental Term Loans, Extended Term Loans, Incremental Revolving Loans (and Incremental Revolving Commitments made pursuant thereto) and Extended Revolving Commitments (and Extended Revolving Loans made pursuant
thereto) that have different terms and conditions shall be construed to be in different Classes. Notwithstanding anything herein to the contrary, Incremental Term B-1 Loans shall be deemed to be of the same Class as the Initial Term Loans. 

“Incremental Amendment” means an Incremental Term Facility Amendment or an Incremental Revolving
Facility Amendment and, for the avoidance of doubt, shall include Amendment No. 1. 
 “Incremental Term
Commitment” has the meaning assigned to such term in Section 2.20(a) and, for the avoidance of doubt, shall include the Incremental Term B-1 Commitment. 

“Incremental Term Facility Closing Date” has the meaning assigned to such term in
Section 2.20(b)(iii) and, for the avoidance of doubt, shall include the Amendment No. 1 Effective Date. 

“Incremental Term Loans” has the meaning assigned to such term in Section 2.20(a) and, for
the avoidance of doubt, shall also include the Incremental Term B-1 Loans. 

“Repricing Transaction” means (a) the incurrence by the Borrower of any Indebtedness (including
any new or additional term loans under this Agreement, whether incurred directly or by way of the conversion of Initial Term Loans or Incremental Term B-1 Loans into a new Class of replacement term loans under this Agreement) that is broadly
marketed or syndicated to banks, financial institutions or other investors in financings similar to the credit facilities provided for in this Agreement (i) having an Effective Yield for the respective Type of such Indebtedness that is less
than the Effective Yield for the Initial Term Loans or Incremental Term B-1 Loans of the respective equivalent Type, but excluding Indebtedness incurred in connection with a Change in Control, and (ii) the proceeds of which are used to prepay
(or, in the case of a conversion, deemed to prepay or replace), in whole or in part, outstanding principal of Initial Term Loans or Incremental Term B-1 Loans or (b) any effective reduction in the Effective Yield

  
 -4- 

 
for the Initial Term Loans or Incremental Term B-1 Loans (e.g., by way of amendment, waiver or otherwise), except for a reduction in connection with a Change in Control. Any determination by the
Administrative Agent with respect to whether a Repricing Transaction shall have occurred shall be conclusive and binding on all Lenders holding the Initial Term Loans or Incremental Term B-1 Loans. 

(c) Clause (a) of the definition of “Applicable Rate” set forth in Section 1.01 of the Credit Agreement is
hereby amended by adding the phrase “or Incremental Term B-1 Loan” immediately after the phrase “Initial Term Loan”. 

(d) Section 2.01 of the Credit Agreement is hereby amended by replacing the word “and” immediately preceding
clause (b) of such section with a “,” and adding a new clause (c) as follows at the end of the first sentence of such section: 

“and (c) each Incremental Term B-1 Lender agrees to make Incremental Term B-1 Loans to the Borrower on the Amendment
No. 1 Effective Date denominated in Dollars in a principal amount not exceeding its Incremental Term B-1 Commitment.” 

(e) Section 2.09(a) of the Credit Agreement is hereby amended by replacing the word “and” immediately preceding
clause (iii) thereof with a “,” and adding a new clause (iv) as follows at the end of such section: 

“and (iv) to the Administrative Agent, for the account of each Lender the then unpaid principal amount of each
Incremental Term B-1 Loan of such Lender as provided in Section 2.10.” 
 (f) The following clauses are
hereby added to end of Section 2.10 of the Credit Agreement: 
 “(c) Subject to adjustment pursuant to
Section 2.11(a)(ii)(F) and Section 2.11(f), the Borrower shall repay Incremental Term B-1 Loans on the last Business Day of each March, June, September and December (commencing with December 31, 2012) in the principal
amount of Incremental Term B-1 Loans equal to (i) the aggregate outstanding principal amount of Incremental Term B-1 Loans immediately after closing on the Amendment No. 1 Effective Date multiplied by (ii) 0.25%. 

(d) To the extent not previously paid, all Incremental Term B-1 Loans shall be due and payable on the Incremental Term B-1
Maturity Date.” 
 (g) Section 2.11(a)(i) of the Credit Agreement is hereby amended by replacing the first two
sentences thereof with the following: 
 “The Borrower shall have the right at any time and from time to time to prepay any Borrowing at
par in whole or in part, subject to the requirements of this Section; provided that in the event that, on or prior to the date that is one year following 

  
 -5- 

 
the Amendment No. 1 Effective Date, the Borrower (x) makes any optional prepayment of Initial Term Loans incurred on the Effective Date and Incremental Term B-1 Loans incurred on the
Amendment No. 1 Effective Date in connection with any Repricing Transaction, or (y) effects any amendment of this Agreement resulting in a Repricing Transaction, the Borrower shall pay to the Administrative Agent, for the ratable account
of each of the applicable Term Lender, (I) in the case of clause (x), a prepayment premium of 1% of the amount of the Initial Term Loans and Incremental Term B-1 Loans being prepaid and (II) in the case of clause (y), a payment equal to 1% of
the aggregate amount of the applicable Initial Term Loans and Incremental Term B-1 Loans outstanding immediately prior to such amendment. Each prepayment in respect of any Class of Term Loans pursuant to this Section 2.11(a)(i) shall be
applied to reduce the installments of principal in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower; provided that notwithstanding the foregoing, the Initial Term Loans
incurred on the Effective Date and the Incremental Term B-1 Loans incurred on the Amendment No. 1 Effective Date shall be deemed to be of the same Class.” 

(h) Section 3.12 of the Credit Agreement is hereby amended by replacing the word “and” immediately preceding
clause (b) thereof with a “,” and adding a new clause (c) as follows at the end of such section “and (c) the Incremental Term B-1 Loans to finance the Additional Specified Dividend and to pay the fees and expenses
associated with Amendment No. 1 and the transactions contemplated thereby.” 
 (i) Section 6.07(h) of the
Credit Agreement is hereby amended and restated as follows: 
 “(h) the payment of the Specified Dividend and the
Additional Specified Dividend;” 
 Section 3. Consent with Respect to the Interest Period. Each Incremental Term B-1 Lender
hereby consents to an Interest Period beginning on the Amendment No. 1 Effective Date and ending on December 31, 2012 in respect of the Eurocurrency Borrowing incurred on the Amendment No. 1 Effective Date under the Incremental Term
B-1 Facility (the “Initial Incremental Borrowing”). In addition, the parties hereto agree that such Initial Incremental Borrowing shall have the same Adjusted Eurocurrency Rate as the Initial Term Loans as in effect as of the
date hereof. 
 Section 4. Credit Agreement Governs. Except as set forth in this Amendment, the Incremental Term B-1 Loans shall have identical terms as the Initial Term Loans and shall otherwise be subject to the provisions, including any provisions restricting the rights, or regarding the obligations, of the Loan Parties or
any provisions regarding the rights of the Lenders, of the Credit Agreement and the other Loan Documents and, from and after the Amendment No. 1 Effective Date each reference to a “Term Loan,” “Term Loans,” “Loan,”
“Loans” or “Incremental Term Loans” in the Credit Agreement, as in effect on the Amendment No. 1 Effective Date, shall be deemed to include the Incremental Term B-1 Loans, each
reference to a “Commitment” shall be deemed to include the “Incremental Term B-1 Commitment” and the “Total Incremental Term B-1 Commitment” and each reference to a
“Lender” or “Lenders” in the Credit Agreement 

  
 -6- 

 
shall be deemed to include the Incremental Term B-1 Lenders, and other related terms will have correlative meanings mutatis mutandis. Upon execution and delivery of this Amendment, the
Administrative Agent will record the Incremental Term B-1 Loans as being of the same Class as the Initial Term Loans. 
 Section 5.
Conditions to Effectiveness. The effectiveness of this Amendment and the obligations of the Incremental Term B-1 Lenders to make the Incremental Term B-1 Loans shall become effective on the Amendment
No. 1 Effective Date, which shall be the first Business Day on which the following conditions are satisfied or waived: 

(i) the Administrative Agent (or its counsel) shall have received counterparts of this Amendment that, when taken together,
bear the signatures of (A) Holdings, (B) the Borrower, (C) each Subsidiary Loan Party, (D) the Required Lenders and (vii) each Incremental Term B-1 Lender; 

(ii) the Administrative Agent shall have received notice of Borrowing for the Incremental Term
B-1 Loans (whether in writing or by telephone) meeting the requirements of Section 2.03 of the Credit Agreement; 

(iii) the Administrative Agent’s receipt of the following, each of which shall be originals or facsimiles or electronic
copies (followed promptly by originals) unless otherwise specified: 
 (A) a written opinion of Simpson Thacher &
Bartlett LLP, counsel for the Loan Parties (addressed to the Administrative Agent and each Existing Lender and Incremental Term B-1 Lender on the Amendment No. 1 Effective Date), as to matters substantially similar to those covered in the
corresponding opinion delivered on the Effective Date; 
 (B) the Administrative Agent shall have received a certificate of
each Loan Party as of the Amendment No. 1 Effective Date, dated the Amendment No. 1 Effective Date, substantially in the form of Exhibit G to the Credit Agreement or such other form reasonably acceptable to the Administrative Agent with
appropriate insertions, executed by any Responsible Officer of such Loan Party, and attaching the documents referred to in clause (C) below; and 

(C) the Administrative Agent shall have received (i) resolutions of the Board of Directors and/or similar governing bodies
of each Loan Party approving and authorizing (a) the Additional Specified Dividend, (b) the execution, delivery and performance of the Amendment (including the reaffirmations set forth herein) (and any agreements relating thereto) to which
it is a party and (c) in the case of the Borrower, the extensions of credit contemplated hereunder, certified as of the Amendment No. 1 Effective Date by its secretary, an assistant secretary or a Responsible Officer as being in full force
and effect without modification or amendment; and (ii) a good standing certificate as of a recent date from the applicable Governmental Authority of each Loan Party’s jurisdiction of incorporation, organization or formation; 

  
 -7- 

 (iv) the Borrower shall have paid to the Administrative Agent for the account of
each Existing Lender that delivers to the Administrative Agent (or its counsel), prior to 5:00 p.m. (New York City time) on December 4, 2012 (the “Delivery Time”), an executed counterpart of this Amendment indicating its
consent to the amendments contained herein, a fee (the “Consent Fees”) in an amount equal to 0.125% of the sum of the aggregate outstanding principal amount of (x) Initial Term Loans and (y) the Revolving Credit
Commitment (whether used or unused), of each Existing Lender immediately prior to the effectiveness hereof; 
 (v) the fees
in the amounts previously agreed in writing by the Incremental Term B-1 Arrangers to be received on the Amendment No. 1 Effective Date and all reasonable and documented or invoiced out-of-pocket costs and expenses (including the reasonable
fees, charges and disbursements of Cahill Gordon & Reindel LLP, as counsel to the Incremental Term B-1 Arrangers, and due diligence expenses) incurred in connection with the transactions contemplated hereby for which invoices
have been presented at least one (1) Business Day prior to the Amendment No. 1 Effective Date shall, upon the Borrowing of the Incremental Term B-1 Loans, have been, or will be substantially
simultaneously, paid in full (which amounts may be offset against the proceeds of the Incremental Term B-1 Loans); 

(vi) the Administrative Agent shall have received a certificate from the chief financial officer of the Borrower in the form of
Exhibit H to the Credit Agreement certifying as to the Solvency of the Borrower and its Restricted Subsidiaries on a consolidated basis after giving effect to the consummation of the transactions contemplated by the Amendment, the Borrowings of the
Incremental Term B-1 Loans and the use of proceeds therefrom (including the payment of the Additional Specified Dividend); 

(vii) the representations and warranties of each Loan Party set forth in the Section 6 of this Amendment shall be true and
correct in all material respects on and as of the Amendment No. 1 Effective Date before and after giving effect to this Amendment No. 1 and the borrowing of the Incremental Term B-1 Loans and to the application of proceeds therefrom;
provided that, to the extent that such representations and warranties specifically refer to an earlier date or period, they shall be true and correct in all material respects as of such earlier date or period; provided further that any
representation and warranty that is qualified as to “materiality,” “Material Adverse Effect” or similar language shall be true and correct in all respects on the date of such borrowing or on such earlier date, as the case may be
(after giving effect to such qualification); and 
 (viii) no Default or Event of Default shall have occurred and be
continuing or would result from the incurrence of the Incremental Term B-1 Loans or from the application of the proceeds therefrom. 

Section 6. Representations and Warranties. By its execution of this Amendment, the Borrower, Holdings and each of the Subsidiary
Loan Parties hereby represents and warrants to the Administrative Agent, the Incremental Term B-1 Lenders and the Lenders that: 

(i) Each of Holdings, the Borrower and each of the Restricted Subsidiaries (a) is duly organized, validly existing and in
good standing (or, if applicable in a foreign jurisdiction, enjoys the equivalent status under the laws of any jurisdiction of organization outside the United States) under the laws of the jurisdiction of its organization, (b) has all requisite
power and authority to own its property and assets necessary for the conduct of business, except as would not reasonably be expected to have a Material Adverse Effect, (c) is qualified to do business in each jurisdiction where such
qualification is required, except where the failure so to qualify would not reasonably be expected to have a Material Adverse Effect, and (d) has the power and authority to execute, deliver and perform its obligations under this Amendment and,
in the case of the Borrower, to borrow and otherwise obtain credit hereunder. 

  
 -8- 

 (ii) The execution, delivery and performance by each Loan Party of this
Amendment, and the Borrowings hereunder (a) have been duly authorized by all organizational action required to be obtained by the Loan Parties and (b) will not (i) (A) violate any provision of any Requirement of Law or violate
the Organizational Documents of any Loan Party, (B) violate any applicable order of any court or any rule, regulation or order of any Governmental Authority or (C) violate, be in conflict with, result in a breach of or constitute (alone or
with notice or lapse of time or both) a default under, give rise to a right of or result in any cancellation or acceleration of any right or obligation (including any payment) or to a loss of a benefit under any indenture, certificate of designation
for preferred stock, agreement or any other instrument to which any Loan Party is a party or by which any of them or their property is or may be bound, where any such conflict, violation, breach or default referred to in this clause (i) would
reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect, or (ii) result in the creation or imposition of any Lien upon or with respect to any property or assets now owned or hereafter acquired by any Loan
Party, other than the Liens created by the Loan Documents and Liens permitted under the Loan Documents. 
 (iii) The
representations and warranties of each Loan Party set forth in Article 3 of the Credit Agreement or in any other Loan Documents are, after giving effect to this Amendment, true and correct in all material respects on and as of the Amendment
No. 1 Effective Date, provided that, to the extent that such representations and warranties specifically refer to an earlier date or period, they shall be true and correct in all material respects as of such earlier date or period;
provided further that any representation and warranty that is qualified as to “materiality,” “Material Adverse Effect” or similar language shall be true and correct in all respects on the date of such credit extension or
on such earlier date, as the case may be (after giving effect to such qualification). 
 Section 7. Acknowledgments and Affirmations
of the Loan Parties. Each Loan Party hereby expressly acknowledges the terms of this Amendment and confirms and reaffirms, as of the date hereof, (i) the covenants and agreements contained in each Loan Document to which it is a party,
including, in each case, such covenants and agreements as in effect immediately after giving effect to this Amendment and the transactions contemplated hereby and thereby, (ii) its guarantee of the Secured Obligations (including, without
limitation, the Incremental Term B-1 Loans) under the Guarantee Agreement and the Security Documents, and (iii) its grant of Liens on the Collateral to secure the Secured Obligations (including, without
limitation, the Loan Document 

  
 -9- 

 
Obligations with respect to the Incremental Term B-1 Loans) pursuant to the Security Documents; provided that, on and after the effectiveness of
this Amendment, each reference in the Guarantee Agreement and in each of the other Loan Documents to “the Credit Agreement”, “thereunder”, “thereof” or words of like import shall mean and be a reference to the Credit
Agreement, as amended by this Amendment. Without limiting the generality of the foregoing, the Security Documents to which such Loan Party is a party and all of the Collateral described therein do, and shall continue to secure, payment of all of the
Secured Obligations (in each case, as defined therein). 
 Section 8. Amendment, Modification and Waiver. This Amendment may not
be amended, modified or waived except in accordance with Section 9.02 of the Credit Agreement. 
 Section 9. Effectiveness of
This Amendment. The provisions of this Amendment shall be subject to the satisfaction of the conditions to effectiveness set forth in Section 5 of this Amendment. 

Section 10. Liens Unimpaired. After giving effect to this Amendment, neither the modification of the Credit Agreement effected
pursuant to this Amendment nor the execution, delivery, performance or effectiveness of this Amendment impairs the validity, effectiveness or priority of the Liens granted pursuant to any Loan Document. 

Section 11. Other. 

(i) Upon (i) the execution of a counterpart of this Amendment by each initial Incremental Term B-1 Lender, the Required Lenders party
hereto, the Administrative Agent, the Borrower and Holdings, and (ii) the delivery to the Administrative Agent of a fully executed counterpart (including by way of telecopy or other electronic transmission) of this Amendment, (A) each
Additional Lender party to this Amendment has been approved by the Administrative Agent and (B) each of the undersigned Incremental Term B-1 Lenders shall become Lenders under the Credit Agreement. 

(ii) For purposes of the Credit Agreement, the initial notice address of each initial Incremental Term B-1 Lender shall be as set forth below
its signature below. 
 (iii) This Amendment, the Credit Agreement and the other Loan Documents constitute the entire agreement among the
parties hereto with respect to the subject matter hereof and thereof and supersede all other prior agreements and understandings, both written and verbal, among the parties hereto with respect to the subject matter hereof. Except as expressly set
forth herein, this Amendment shall not by implication or otherwise limit, impair, constitute a waiver of, or otherwise affect the rights and remedies of any party under, the Credit Agreement, nor alter, modify, amend or in any way affect any of the
terms, conditions, obligations, covenants or agreements contained in the Credit Agreement, all of which are ratified and affirmed in all respects and shall continue in full force and effect. It is understood and agreed that each reference in each
Loan Document to the Credit Agreement, whether direct or indirect, shall hereafter be deemed to be a reference to the Credit Agreement as amended by this Amendment and that this Amendment are each a Loan Document. 

  
 -10- 

 (iv) This Amendment may not be amended, modified or waived except by an instrument or instruments
in writing signed and delivered on behalf of each of the parties hereto. This Amendment shall constitute a “Loan Document” for all purposes of the Credit Agreement and other Loan Documents. 

(v) THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, CONSTRUED AND INTERPRETED IN ACCORDANCE WITH,
THE LAWS OF THE STATE OF NEW YORK. SECTION 9.09 OF THE CREDIT AGREEMENT IS HEREBY INCORPORATED BY REFERENCE INTO THIS AMENDMENT AND SHALL APPLY HERETO. 

(vi) Any term or provision of this Amendment which is invalid or unenforceable in any jurisdiction shall, as to that jurisdiction, be
ineffective to the extent of such invalidity or unenforceability without rendering invalid or unenforceable the remaining terms and provisions of this Amendment or affecting the validity or enforceability of any of the terms or provisions of this
Amendment in any other jurisdiction. If any provision of this Amendment is so broad as to be unenforceable, the provision shall be interpreted to be only so broad as would be enforceable. 

(vii) This Amendment may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall
constitute an original but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page of this Amendment by telecopy or e-mail (including in a “.pdf” format) shall be
effective as delivery of a manually executed counterpart of this Amendment. 

  
 -11- 

 IN WITNESS WHEREOF, each of the undersigned has caused its duly authorized officer to execute and
deliver this Amendment as of the date first written above. 
  

					
	BLUE PET PRODUCTS, INC., as Holdings
		
	By:	 	 /s/ Richard MacLean

		 	Name:	 	Richard MacLean
		 	Title:	 	Vice President of Business Affairs & General Counsel
	
	BLUE BUFFALO COMPANY, LTD., as the Borrower
		
	By:	 	 /s/ Richard MacLean

		 	Name:	 	Richard MacLean
		 	Title:	 	Vice President of Business Affairs & General Counsel
	
	SIERRA PET PRODUCTS, LLC
	 GREAT PLAINS LEASING LLC
 HEATLAND
PET FOODS MANUFACTURING, INC.

		
	By:	 	 /s/ Richard MacLean

		 	Name:	 	Richard MacLean
		 	Title:	 	Vice President of Business Affairs & General Counsel

 [Amendment No. 1 Signature Page] 

					
	Consented to by:
	
	CITIBANK, N.A., as Administrative Agent
		
	By:	 	 /s/ Christopher Wood

		 	Name:	 	Christopher Wood
		 	Title:	 	Vice President

  
 [Amendment No. 1
Signature Page] 

 Schedule 1.1 

INCREMENTAL TERM B-1 COMMITMENT SCHEDULE 
  

					
	 LENDER
	  	AMOUNT	 
		
	 Citibank, N.A.
	  	$	50,000,000

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