Document:

Exhibit

EXHIBIT 10.1 
EXECUTION VERSION

SECOND AMENDMENT TO CREDIT AGREEMENT
THIS SECOND AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) is entered into as of February 27, 2020 among PERKINELMER, INC., a Massachusetts corporation (the “Company”), PERKINELMER HEALTH SCIENCES, INC., a Delaware corporation (“Health Sciences”), PERKINELMER LIFE SCIENCES INTERNATIONAL HOLDINGS, a company incorporated and registered under the laws of England and Wales with registered number 04418157 (the “UK Borrower”), PERKINELMER GLOBAL HOLDINGS S.À R.L., a private limited liability company (société à responsabilité limitée) incorporated under the laws of Luxembourg, having its registered office at 9, allée Scheffer, L-2520 Luxembourg-city, Luxembourg, registered with the Luxembourg Trade and Companies Register (registre de commerce et des sociétés, Luxembourg) under number B217121 (the “Luxembourg Borrower”), PERKINELMER HEALTH SCIENCES B.V., a private company with limited liability incorporated under the laws of the Netherlands (besloten vennootschap met beperkte aansprakelijkheid) having its official seat (statutaire zetel) in Groningen, and its office at Groningen, Rigaweg 22 (9723TH), registered with the Dutch Trade Register of the Chamber of Commerce under number 02027119 (the “Dutch Borrower”; the Dutch Borrower, together with the Company, Health Sciences, the UK Borrower, and the Luxembourg Borrower, each a “Borrower” and collectively, the “Borrowers”), the Lenders party hereto, and BANK OF AMERICA, N.A., as the Administrative Agent.  All capitalized terms used herein and not otherwise defined herein shall have the meanings given to such terms in the Credit Agreement (as defined below).
RECITALS
WHEREAS, the Borrowers, the Designated Borrowers from time to time party thereto, the Lenders from time to time party thereto, Bank of America, N.A., as the Administrative Agent, the Swing Line Lender and an L/C Issuer, and the other L/C Issuers party hereto, entered into that certain Credit Agreement, dated as of September 17, 2019 (as amended, restated, amended and restated, supplemented, extended, replaced or otherwise modified from time to time, the “Credit Agreement”);
WHEREAS, the Borrowers have requested that the Credit Agreement be amended as set forth below, subject to the terms and conditions specified in this Amendment; and
WHEREAS, the parties hereto are willing to amend the Credit Agreement, subject to the terms and conditions specified in this Amendment.
NOW, THEREFORE, in consideration of the premises and the mutual covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
1.Amendment to Credit Agreement.  Section 2.02(e) of the Credit Agreement is amended to read as follows:
(e)    After giving effect to all Committed Borrowings, all conversions of Committed Loans from one Type to the other, and all continuations of Committed Loans as the same Type, there shall not be more than fifteen (15) Interest Periods in effect with respect to Committed Loans.
2.    Condition Precedent.  This Amendment shall be effective upon receipt by the Administrative Agent of counterparts of this Amendment duly executed by the Borrowers, the Required Lenders, and the Administrative Agent.

3.    Miscellaneous.
(a)    The Loan Documents and the obligations of the Borrowers thereunder are hereby ratified and confirmed and shall remain in full force and effect according to their terms.  This Amendment is a Loan Document.
(b)    Each Borrower represents and warrants that: (i) such Borrower has all requisite power and authority to execute, deliver and perform its obligations under this Amendment; (ii) the execution, delivery and performance by such Borrower of this Amendment have been duly authorized by all necessary corporate or other organizational action, and do not and will not (A) contravene the terms of such Borrower’s Organization Documents, (B) conflict with or result in any breach or contravention of, or the creation of any Lien under, or require any payment to be made under (1) any Contractual Obligation to which such Borrower is a party or affecting such Borrower or the properties of such Borrower or any of its Subsidiaries, or (2) any order, injunction, writ or decree of any Governmental Authority or any arbitral award to which such Borrower or its property is subject, or (C) violate any Law, except in the cases of clause (b)(ii)(B) and clause (b)(ii)(C) as could not reasonably be expected to have a Material Adverse Effect; (iii) no approval, consent, exemption, authorization, or other action by, or notice to, or filing with, any Governmental Authority or any other Person is necessary or required in connection with the execution, delivery or performance by, or enforcement against, such Borrower of this Amendment, except as may have been obtained; and (iv) this Amendment has been duly executed and delivered by such Borrower and constitutes a legal, valid and binding obligation of such Borrower, enforceable against such Borrower in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally and by general equitable principles (whether enforcement is sought by proceedings in equity or at law).
(c)    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 facsimile or other electronic imagine means shall be effective as delivery of a manually executed counterpart of this Amendment.
(d)    If any provision of this Amendment is held to be illegal, invalid or unenforceable, (i) the legality, validity and enforceability of the remaining provisions of this Amendment shall not be affected or impaired thereby and (ii) the parties shall endeavor in good faith negotiations to replace the illegal, invalid or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the illegal, invalid or unenforceable provisions.  The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.
(e)    THIS AMENDMENT AND ANY CLAIMS, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER IN CONTRACT OR TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS AMENDMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY, SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

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(f)    The terms of Sections 11.14 and 11.15 of the Credit Agreement with respect to submission to jurisdiction, waiver of venue and waiver of jury trial are incorporated herein by reference, mutatis mutandis, and the parties hereto agree to such terms.
[Signature pages follow]

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of the date first above written.
COMPANY:                PERKINELMER, INC.,
a Massachusetts corporation
By:    /s/ James M. Mock        
Name:    James M. Mock
Title:    Senior Vice President and Chief Financial Officer
BORROWERS:                PERKINELMER HEALTH SCIENCES, INC.,
a Delaware corporation
By:    /s/ John L. Healy        
Name:    John L. Healy
Title:    Vice President and Secretary
PERKINELMER LIFE SCIENCES INTERNATIONAL HOLDINGS,
a company incorporated under the laws of England and Wales
By:    /s/ John L. Healy        
Name:    John L. Healy
Title:    Director
PERKINELMER GLOBAL HOLDINGS S.À R.L.,
a private limited liability company incorporated under the laws of Luxembourg
By:    /s/ John L. Healy        
Name:    John L. Healy
Title:    Authorized Signatory
PERKINELMER HEALTH SCIENCES B.V.,
a private company with limited liability incorporated under the laws of the Netherlands
By:    /s/ John L. Healy        
Name:    John L. Healy
Title:    Attorney-in-fact

PERKINELMER, INC.
SECOND AMENDMENT TO CREDIT AGREEMENT

ADMINISTRATIVE AGENT:        BANK OF AMERICA, N.A.,
as Administrative Agent
By:     /s/ Taelitha Bonds-Harris     
Name:   Taelitha Bonds-Harris    
Title:     Assistant Vice President

PERKINELMER, INC.
SECOND AMENDMENT TO CREDIT AGREEMENT

LENDERS:                BANK OF AMERICA, N.A.,
as a Lender
By:    /s/ Joseph L. Corah        
Name:    Joseph L. Corah
Title:    Director

PERKINELMER, INC.
SECOND AMENDMENT TO CREDIT AGREEMENT

JPMORGAN CHASE BANK, N.A.,
as a Lender
By:    /s/ David Hyman                
Name:   David Hyman 
Title:     Executive Director

PERKINELMER, INC.
SECOND AMENDMENT TO CREDIT AGREEMENT

WELLS FARGO BANK, NATIONAL ASSOCIATION,
as a Lender
By:    /s/ Sara Barton            
Name:   Sara Barton
Title:     Vice President

PERKINELMER, INC.
SECOND AMENDMENT TO CREDIT AGREEMENT

MIZUHO BANK, LTD.,
as a Lender 
By:    /s/ Tracy Rahn            
Name:   Tracy Rahn
Title:     Executive Director

PERKINELMER, INC.
SECOND AMENDMENT TO CREDIT AGREEMENT

TD BANK, N.A.,
as a Lender 
By:    /s/ Jason Siewert        
Name:   Jason Siewert
Title:     Senior Vice President

PERKINELMER, INC.
SECOND AMENDMENT TO CREDIT AGREEMENT

U.S. BANK NATIONAL ASSOCIATION,
as a Lender 
By:    /s/ Joseph M. Schnorr        
Name:   Joseph M. Schnorr
Title:     Senior Vice President

PERKINELMER, INC.
SECOND AMENDMENT TO CREDIT AGREEMENT

PNC BANK, NATIONAL ASSOCIATION,
as a Lender 
By:    /s/ Steven Eberhardt        
Name:   Steven Eberhardt
Title:     Vice President

PERKINELMER, INC.
SECOND AMENDMENT TO CREDIT AGREEMENT

CITIBANK, N.A.,
as a Lender 
By:    /s/ Pranjal Gambhir        
Name:   Pranjal Gambhir
Title:     Vice President

PERKINELMER, INC.
SECOND AMENDMENT TO CREDIT AGREEMENT

HSBC BANK USA, NATIONAL ASSOCIATION,
as a Lender 
By:    /s/ Zhiyan Zeng                
Name:   Zhiyan Zeng
Title:     Vice President

PERKINELMER, INC.
SECOND AMENDMENT TO CREDIT AGREEMENTExhibit 10.1

 

Peoples
Security Bank and Trust Company

Executive Cash Bonus Plan

 

Amended and Restated as
of May 8, 2020

 

WHEREAS, Peoples Financial Services Corp.
(“Corporation”) and Peoples Security Bank and Trust Company (“Bank”) designed their compensation program
to provide a competitive base salary as well as provide incentives to executive officers to effectively lead and manage the Corporation
and Bank and implement their quality, earnings and growth strategies;

 

WHEREAS, the Corporation and Bank believe
that executive compensation should be closely aligned with the long-term interests of shareholders, along with corporate goals
and strategies, and should include significant performance-based criteria related to long term shareholder value, which should
reflect upside potential and downside risk; and

 

WHEREAS, the Corporation and Bank believe
that the implementation of a Cash Bonus Plan (“Plan”) will create a strong and objective link between executive compensation
and shareholder value creation.

 

NOW THEREFORE, in consideration of the premises
above and the covenants herein contained, and intending to be legally bound, the Bank agrees as follows

 

Section
1.                  Term.
The Plan was originally adopted effective as of January 1, 2011 and is amended and restated as of May 8, 2020. The Plan may be
terminated by the Board of Directors at any time. The Plan Year shall be a calendar year.

 

Section
2.                  Committee.
The Plan shall be administered by the Compensation Committee of the Board of Directors (“Committee”). The Committee
shall be vested with full authority to establish goals and grant Awards under the Plan; to adopt, amend, and rescind such rules,
regulations and procedures as it deems necessary or desirable to administer the Plan; to interpret the provisions of the Plan;
and to make all other determinations necessary in connection with the administration of the Plan. Any determination, decision or
action of the Committee in connection with the construction, interpretation, administration or application of the Plan shall be
final, conclusive and binding. No member of the Committee shall be liable for any determination, decision or action made in good
faith with respect to the Plan or any Award granted under the Plan.

 

Section
3.                  Participants.
The participants are designated executive officers that are in a position to contribute to the long term success of the organization.
Each calendar year, the Committee shall designate those executive officers who shall participate in the Plan for that Plan Year
(“Participant”).

 

Section
4.                  Awards.
A Participant’s Award shall be determined based upon the attainment of written performance goals approved by the Committee.
The performance goals shall be based upon criteria which may or may not be objective. The Committee may adjust measurements and
weighting based upon individual circumstances which it believes warrant such adjustments.

 

    

     

    

 

The maximum Award which may be earned by
a Participant shall also be determined and, to the extent possible, communicated to the Participant by the Committee prior to the
Plan Year.

 

In addition to annual Awards, Participants
may receive cash bonuses at times and in amounts determined by the Committee in its discretion from time to time.

 

Section
5.                  Payment
of Awards. All payments in respect of annual Awards under this Plan shall be made as soon as possible after the completion
of the Plan Year. Other discretionary bonuses shall be made at such times determined by the Committee.

 

Section
6.                  Clawback.
In the event that Corporation or the Bank is required to prepare an accounting restatement because of the material noncompliance
of the Corporation or Bank with any financial reporting requirement and if within the previous three years a Participant received
an Award based upon the erroneous data, the Participant shall return and refund to the Bank the excess amount over what would have
been paid to the Participant under the accounting restatement. In the event that the Corporation or the Bank is required to prepare
an accounting restatement because of a Participant’s misconduct or fraudulent activity, then the Participant shall return
and refund to the Bank the entire Award received based upon the erroneous data. Additionally, any amounts paid under this Plan
will be subject to recoupment in accordance with any clawback policy that the Corporation or the Bank adopts, including any policy
adopted pursuant to the listing standards of any national securities exchange or association on which the Corporation’s securities
are listed or as is otherwise required by the Dodd-Frank Wall Street Reform and Consumer Protection Act or other applicable law.
No recovery of compensation under this Plan or any clawback policy will be an event giving rise to a right to resign for “good
reason” (or similar term) under any agreement with the Corporation or the Bank.

 

Section
7.                  Termination
of Employment. In the event that a Participant’s employment is terminated prior to December 31st of the year in which
an annual Award is earned, he shall not be eligible to receive an Award under this Plan. A Participant must be employed by the
Bank on December 31st to receive an annual Award. In the event that a Participant is terminated as a result of being convicted
of a crime, for dishonesty or gross negligence, for breach of fiduciary duty, for fraud or misappropriation, or for a violation
of any law, rule or regulation governing banks, bank holding companies or bank officers, or for “cause” (or similar
term) under any agreement with the Corporation or the Bank, then the Participant shall not be entitled to any Award under this
Plan and all of the Participant’s rights under this Plan shall terminated immediately.

 

Section
8.                  Effect on
Employment. Neither the Plan nor any action taken hereunder shall be construed as giving any Participant or other person any
right to continue to be employed by or perform services for the Corporation or Bank, and the right to terminate the employment
of or performance of services by any Participant at any time and for any reason is specifically reserved to the Corporation or
Bank.

 

    	 	-2-	 

     

    

 

Section
9.                  Section
409A of the Internal Revenue Code. Any payments made pursuant to this Plan, to the extent of payments made through March 15th
of the calendar year, are intended to constitute separate payments for purposes of Treas. Reg. §1.409A-2(b)(2) and thus payable
pursuant to the “short-term deferral” rule set forth in Treas. Reg. §1.409A-1(b)(4).

 

Section
10.              Applicable Law. The Plan shall
be construed, administered, regulated, and governed in all respects under and by the laws of the Commonwealth of Pennsylvania,
except as preempted by federal law.

 

IN WITNESS WHEREOF, this instrument has
been executed by an authorized officer of the Bank.

 

	ATTEST	 	PEOPLES SECURITY BANK AND TRUST COMPANY
	 	 	 
	 	 	 
	/s/	 	/s/ Craig W. Best
	 	 	Name:	Craig W. Best
	 	 	Title:	President & CEO

 

    	 	-3-

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