Document:

Amendment_No_1_to_Credit_Agreement

Exhibit 10.1

AMENDMENT NO. 1 TO FIVE-YEAR CREDIT AGREEMENT
This Amendment (this “Amendment”) is entered into as of June 4, 2013 by and among Cardinal Health, Inc., an Ohio corporation (the “Borrower”), JPMorgan Chase Bank, N. A., individually and as administrative agent (the “Administrative Agent”), and the other financial institutions signatory hereto.
RECITALS
A.    The Borrower, the Subsidiary Borrowers from time to time party thereto, the Administrative Agent and the Lenders are party to that certain Five-Year Credit Agreement dated as of May 12, 2011 (the “Credit Agreement”).  Unless otherwise specified herein, capitalized terms used in this Amendment shall have the meanings ascribed to them by the Credit Agreement.
B.    The Borrower, the Administrative Agent and the undersigned Lenders wish to amend the Credit Agreement on the terms and conditions set forth below.
C.    Certain institutions which are not currently parties to the Credit Agreement and which are identified as new Lenders on Exhibit A hereto (each a “New Lender”), wish to become Lenders under the Credit Agreement with the respective Commitments set forth opposite their respective names on Exhibit A hereto.  
Now, therefore, in consideration of the mutual execution hereof and other good and valuable consideration, the parties hereto agree as follows:
1.Amendment to Credit Agreement.  Upon the “Effective Date” (as defined below), the Credit Agreement shall be amended as follows:
(a)    The table of contents of the Credit Agreement is hereby amended by deleting the following:
Schedule 1.1.    Cost Rate Schedule and adding the following exhibits in the appropriate alphabetical/numerical order:
Exhibit G-1    –    U.S. Tax Compliance Certificate (For Non-U.S. Lenders that are not Partnerships for U.S. Federal; Income Tax Purposes)
Exhibit G-2    –    U.S. Tax Compliance Certificate (For Non-U.S. Lenders that are Partnerships for U.S. Federal; Income Tax Purposes)
Exhibit G-3    –    U.S. Tax Compliance Certificate (For Non-U.S. Participants that are not Partnerships for U.S. Federal; Income Tax Purposes)

Exhibit G-4    –    U.S. Tax Compliance Certificate (For Non-U.S. Participants that are Partnerships for U.S. Federal; Income Tax Purposes)
(b)    The defined terms “Cost Rate” and “Non-U.S. Lender” in Section 1.1 of the Credit Agreement are hereby deleted.
(c)    Clause (iii) of the defined term “Eligible Currency” is hereby deleted and replaced with the following:
(iii)    in which deposits are customarily offered to banks in the London interbank market (or, in the case of Swingline Loans or Alternate Currency Loans, in such other interbank market(s) as may be acceptable to the Swingline Lender (or, as applicable, Alternate Currency Lender) in its sole discretion or, in the case of other Loans, in such other interbank market(s) as may be acceptable to each of the Lenders in its sole discretion),
(d)    The defined term “Eurocurrency Rate” in Section 1.1 of the Credit Agreement is hereby deleted and replaced with the following:
“Eurocurrency Rate” means, with respect to a Eurocurrency Advance for the relevant Interest Period, the sum of (i) the quotient of (a) the Eurocurrency Base Rate applicable to such Interest Period, divided by (b) one minus the Reserve Requirement (expressed as a decimal) applicable to such Interest Period, plus (ii) the Applicable Margin.  The Eurocurrency Rate shall be expressed as a percentage rounded to five decimal places.
(e)    The defined term “Excluded Taxes” in Section 1.1 of the Credit Agreement is hereby deleted and replaced with the following:
“Excluded Taxes” means any of the following Taxes imposed on or with respect to a Recipient or required to be withheld or deducted from a payment to a Recipient, (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch profits Taxes, in each case, (i) imposed as a result of such Recipient being organized under the laws of, or having its principal office or, in the case of any Lender, its applicable lending office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that are Other Connection Taxes, (b) in the case of a Lender, U.S. Federal withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan or Commitment pursuant to a law in effect on the date on which (i) such Lender acquires such interest in the Loan or Commitment (other than pursuant to an assignment request by the Company under Section 2.26) or (ii) such Lender changes its lending office, except in each case to the extent that, pursuant to Section 3.5, amounts with respect to such Taxes were payable either to such Lender’s assignor immediately before such Lender acquired the applicable interest in a Loan or Commitment or to such Lender immediately before it changed its lending 

2

office, (c) Taxes attributable to such Recipient’s failure to comply with Section 3.5(f) and (d) any U.S. Federal withholding Taxes imposed under FATCA.
(f)    The defined term “Facility Termination Date” in Section 1.1 of the Credit Agreement is hereby deleted and replaced with the following:
“Facility Termination Date” means the first to occur of (a) the later of (i) June 4, 2018 and (ii) if the maturity is extended pursuant to Section 2.28, such extended maturity date determined pursuant to that Section, and (b) the date the Commitments or this Agreement are earlier cancelled or terminated pursuant to the terms hereof; provided, however, with respect to any Non-Replaced Lender, “Facility Termination Date” shall mean the first to occur of (x) the later of (i) June 4, 2018 and (ii) only if such Non-Replaced Lender extended the maturity of its commitments for one year pursuant to such Section 2.28, such extended maturity date determined pursuant to such Section, and (y) the date the Commitments or this Agreement are earlier cancelled or terminated pursuant to the terms of this Agreement.  Unless otherwise specified in this Agreement, Facility Termination Date means the Facility Termination Date applicable to a Lender, Swingline Lender or LC Issuer.
(g)    The defined term “FATCA” in Section 1.1 of the Credit Agreement is hereby deleted and replaced with the following:
“FATCA” means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof and any agreement entered into pursuant to Section 1471(b)(1) of the Code.
(h)    The defined term “Other Taxes” in Section 1.1 of the Credit Agreement is hereby deleted and replaced with the following:
“Other Taxes” means all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise with respect to, any Loan Document, except any such Taxes that are Other Connection Taxes imposed with respect to an assignment (other than an assignment made pursuant to Section 2.26).
(i)    The defined term “Taxes” in Section 1.1 of the Credit Agreement is hereby deleted and replaced with the following:
“Taxes” means all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto.

3

(j)    Section 1.1 of the Credit Agreement is amended by adding the following the definitions in the appropriate alphabetical order:
“Amendment No. 1” means that certain Amendment No. 1 to Five-Year Credit Agreement dated as of June 4, 2013.
“Amendment No. 1 Date” means June 4, 2013, the “Effective Date” as defined in Amendment No. 1.
“Connection Income Taxes” means Other Connection Taxes that are imposed on or measured by net income (however denominated) or that are franchise Taxes or branch profits Taxes.
“Designated Person” means a person or entity (a) listed in the annex to any Executive Order, (b) named as a “Specially Designated National and Blocked Person” on the most current list published by OFAC at its official website or any replacement website or other replacement official publication of such list, or (c) otherwise subject to sanctions under any Sanctions Laws and Regulations.
“Executive Order” is defined in the “Sanctions Laws and Regulations” definition.
“Foreign Lender” means (a) if the Borrower is a U.S. Person, a Lender, with respect to such Borrower, that is not a U.S. Person, and (b) if the Borrower is not a U.S. Person, a Lender, with respect to such Borrower, that is resident or organized under the laws of a jurisdiction other than that in which such Borrower is resident for tax purposes.
“Indemnified Taxes” means (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on account of any obligation of any Borrower under any Loan Document and (b) to the extent not otherwise described in (a), Other Taxes.
“IRS” means the United States Internal Revenue Service.
“Other Connection Taxes” means, with respect to any Recipient, Taxes imposed as a result of a present or former connection between such Recipient and the jurisdiction imposing such Taxes (other than connections arising from such Recipient having executed, delivered, become a party to, performed its obligations under, received payments under, received or perfected a security interest under, engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan Document).
“Recipient” means, as applicable, (a) the Administrative Agent, (b) any Lender and (c) any LC Issuer.

4

“Sanctions Laws and Regulations” means any sanctions, prohibitions or requirements imposed by any executive order administered by OFAC (such order, an “Executive Order”) or by any sanctions program administered by OFAC.
“U.S. Person” means a “United States person” within the meaning of Section 7701(a)(30) of the Code.
“U.S. Tax Compliance Certificate” is defined in Section 3.5(f)(ii)(B)(3).
(k)    The sixth sentence of Section 2.1(b)(i) of the Credit Agreement is hereby deleted and replaced with the following:
All Swingline Loans shall bear interest (a) in the case of such Loans denominated in Dollars, at the Base Rate plus the Applicable Margin for Floating Rate Loans or such other rate as shall be agreed between the relevant Borrower and the Swingline Lender with respect to any Swingline Loan at the time such Swingline Loan is made and (b) in the case of such Loans denominated in other Eligible Currencies, at such other rate as shall be agreed between the relevant Borrower and the Swingline Lender with respect to any Swingline Loan at the time such Swingline Loan is made (it being understood that such pricing may, by agreement of the relevant Borrower and the Swingline Lender, be based on rates other than those of the London interbank market).
(l)    Section 2.1(c)(i) of the Credit Agreement is amended by adding the following as the final sentence thereof:
If an Alternate Currency Addendum includes an alternate definition of “Eurocurrency Base Rate” referencing an interbank market other than the London interbank market and/or different times and/or different rate quotation screens relative to the applicable Eligible Currency, then (solely with respect to any Alternate Currency Loans made pursuant to such Alternate Currency Addendum denominated in such Eligible Currency) the term “Eurocurrency Base Rate” shall, notwithstanding the definition thereof in Section 1.1, be deemed to mean the Eurocurrency Base Rate as defined in such Alternate Currency Addendum.
(m)    Section 2.28(a) of the Credit Agreement is hereby deleted and replaced with the following:
(a)    Requests for Extension.  The Company may, by notice to the Administrative Agent (who shall promptly notify the Lenders) not earlier than 60 days and not later than 35 days prior to the first anniversary of the Amendment No. 1 Date and the second anniversary of the Amendment No. 1 Date (each an “Extension Date”), request that each Lender extend such Lender’s Facility Termination Date for an additional one year from the Facility Termination Date then in effect hereunder 

5

(the “Existing Termination Date”); provided that in no event shall the Facility Termination Date for any Lender be extended beyond June 4, 2020.
(n)    Section 3.1(a) of the Credit Agreement is hereby deleted and replaced with the following:
(a)    If, on or after the date of this Agreement (or with respect to any Lender, if later, the date on which such Lender becomes a Lender), the adoption of any Law or any governmental or quasi-governmental policy or directive (whether or not having the force of Law), or any change in the interpretation or administration thereof by any Governmental Authority or quasi-Governmental Authority, central bank or comparable agency charged with the interpretation or administration thereof, or compliance by any Lender or applicable Lending Installation or the LC Issuer with any request or directive (whether or not having the force of Law) of any such authority, central bank or comparable agency (any such event, a “Change in Law”; provided that notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines, requirements and directives thereunder (“Dodd-Frank”), issued in connection therewith or in implementation thereof shall be deemed to be a “Change in Law” regardless of the date enacted, adopted, issued or implemented and (y) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall be deemed to be a “Change in Law” regardless of the date enacted, adopted, issued or implemented):
(i)    subjects any Recipient to any Taxes (other than (A) Indemnified Taxes, (B) Taxes described in clauses (b) through (d) of the definition of Excluded Taxes and (C) Connection Income Taxes) on its Loans, Loan principal, Facility LCs, Commitments, or other obligations, or its deposits, reserves, other liabilities or capital attributable thereto, or
(ii)    imposes or increases or deems applicable any reserve, assessment, insurance charge, special deposit or similar requirement against assets of, deposits with or for the account of, or credit extended by, any Lender or any applicable Lending Installation or the LC Issuer (other than reserves and assessments taken into account in determining the interest rate applicable to Eurocurrency Advances), or
(iii)    imposes any other condition (other than Taxes) the result of which is to increase the cost to any Lender or any applicable Lending Installation or the LC Issuer of maintaining its Commitment or making, funding or maintaining its Eurocurrency Loans (including, without limitation, any conversion of any Loan denominated in an Agreed Currency other than Euro into a Loan denominated in Euro), or of issuing or participating in Facility LCs, or reduces any amount receivable by any Lender or any applicable Lending Installation or the LC Issuer in connection with 

6

its Eurocurrency Loans, Facility LCs or participations therein, or requires any Lender or any applicable Lending Installation or the LC Issuer to make any payment calculated by reference to its Commitment or the amount of Eurocurrency Loans, Facility LCs or participations therein held or interest or LC fees received by it, by an amount deemed material by such Lender or the LC Issuer as the case may be,
and (A) the result of any of the foregoing is to increase the cost to such Lender or applicable Lending Installation or other Recipient, as the case may be, of making, converting into, continuing or maintaining its Eurocurrency Loans (including, without limitation, any conversion of any Loan denominated in an Agreed Currency other than Euro into a Loan denominated in Euro) or Commitment or of issuing, maintaining or participating in Facility LCs or to reduce the return received by such Lender or applicable Lending Installation or other Recipient, as the case may be, in connection with such Eurocurrency Loan, or Commitment, Facility LCs or participations therein, and (B) such Lender or the applicable Lending Installation or other Recipient, as the case may be, is generally demanding similar compensation from its other similar borrowers in similar circumstances, then, within 30 days of demand by such Lender or other Recipient, as the case may be, the relevant Borrower shall pay such Lender or other Recipient, as the case may be, such reasonable additional amount or amounts as will compensate such Lender or other Recipient for such increased cost or reduction in amount received, provided that the relevant Borrower shall not be required to pay such Lender or other Recipient pursuant to this Section 3.1(a) for such increased cost or reduction in amount received to the extent incurred more than 180 days prior to the date that such Lender or other Recipient, as the case may be, notifies such relevant Borrower of the Change in Law giving rise to such increased cost or reduction in amount received, provided further that, if the Change in Law giving rise to such increased costs or reduction in amount received is retroactive, then the 180 day period referred to above shall be extended to include the period of retroactive effect thereof.
(o)    Section 3.5 of the Credit Agreement is hereby deleted and replaced with the following:
3.5    Taxes.
(a)    Payments Free of Taxes.  Any and all payments by or on account of any obligation of any Borrower under any Loan Document shall be made without deduction or withholding for any Taxes, except as required by applicable law.  If any applicable law (as determined in the good faith discretion of an applicable withholding agent) requires the deduction or withholding of any Tax from any such payment by a withholding agent, then the applicable withholding agent shall be entitled to make such deduction or withholding and shall timely pay the full amount deducted or withheld to the relevant Governmental Authority in accordance with applicable law and, if such Tax is an Indemnified Tax, then the sum payable by the applicable Borrower shall be increased as necessary so that after such 

7

deduction or withholding has been made (including such deductions and withholdings applicable to additional sums payable under this Section 3.5) the applicable Recipient receives an amount equal to the sum it would have received had no such deduction or withholding been made.
(b)    Payment of Other Taxes by the Borrowers.  The Borrowers shall timely pay to the relevant Governmental Authority in accordance with applicable law, or at the option of the Administrative Agent timely reimburse it for, Other Taxes.
(c)    Evidence of Payments.  As soon as practicable after any payment of Taxes by any Borrower to a Governmental Authority pursuant to this Section 3.5, such Borrower shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to the Administrative Agent.
(d)    Indemnification by the Borrowers.  The Borrowers shall jointly and severally indemnify each Recipient, within 10 days after demand therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable under this Section) payable or paid by such Recipient or required to be withheld or deducted from a payment to such Recipient and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority.  A certificate as to the amount of such payment or liability delivered to the Company by a Lender (with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of a Lender, shall be conclusive absent manifest error.
(e)    Indemnification by the Lenders.  Each Lender shall severally indemnify the Administrative Agent, within 10 days after demand therefor, for (i) any Indemnified Taxes attributable to such Lender (but only to the extent that any Borrower has not already indemnified the Administrative Agent for such Indemnified Taxes and without limiting the obligation of the Borrowers to do so), (ii) any Taxes attributable to such Lender’s failure to comply with the provisions of Section 12.1(d) relating to the maintenance of a Participant Register and (iii) any Excluded Taxes attributable to such Lender, in each case, that are payable or paid by the Administrative Agent in connection with any Loan Document, and any reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority.  A certificate as to the amount of such payment or liability delivered to any Lender by the Administrative Agent shall be conclusive absent manifest error.  Each Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender under any Loan Document or 

8

otherwise payable by the Administrative Agent to the Lender from any other source against any amount due to the Administrative Agent under this paragraph (e).
(f)    Status of Lenders.  (i) Any Lender that is entitled to an exemption from or reduction of withholding Tax with respect to payments made under any Loan Document shall deliver to the Company and the Administrative Agent, at the time or times reasonably requested by the Company or the Administrative Agent, such properly completed and executed documentation reasonably requested by the Company or the Administrative Agent as will permit such payments to be made without withholding or at a reduced rate of withholding.  In addition, any Lender, if reasonably requested by the Company or the Administrative Agent, shall deliver such other documentation prescribed by applicable law or reasonably requested by the Company or the Administrative Agent as will enable the Company or the Administrative Agent to determine whether or not such Lender is subject to backup withholding or information reporting requirements.  Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such documentation (other than such documentation set forth in Section 3.5(f)(ii)(A), (ii)(B) and (ii)(D) below) shall not be required if in the Lender’s reasonable judgment such completion, execution or submission would subject such Lender to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Lender.
(ii)    Without limiting the generality of the foregoing, in the event that any Borrower is a U.S. Person,
(A)    any Lender that is a U.S. Person shall deliver to the Company and the Administrative Agent on or prior to the date on which such Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Company or the Administrative Agent), executed originals of IRS Form W-9 certifying that such Lender is exempt from U.S. Federal backup withholding tax;
(B)    any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Company and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Company or the Administrative Agent), whichever of the following is applicable:
(1)    in the case of a Foreign Lender claiming the benefits of an income tax treaty to which the United States is a party (x) with respect to payments of interest under any Loan Document, executed originals of IRS Form W-8BEN establishing an exemption from, or reduction of, U.S. Federal withholding Tax pursuant 

9

to the “interest” article of such tax treaty and (y) with respect to any other applicable payments under any Loan Document, IRS Form W-8BEN establishing an exemption from, or reduction of, U.S. Federal withholding Tax pursuant to the “business profits” or “other income” article of such tax treaty;
(2)    executed originals of IRS Form W‐8ECI;
(3)    in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Code, (x) a certificate substantially in the form of Exhibit G-1 to the effect that such Foreign Lender is not a “bank” within the meaning of Section 881(c)(3)(A) of the Code, a “10 percent shareholder” of any Borrower within the meaning of Section 881(c)(3)(B) of the Code, or a “controlled foreign corporation” described in Section 881(c)(3)(C) of the Code (a “U.S. Tax Compliance Certificate”) and (y) executed originals of IRS Form W-8BEN; or
(4)    to the extent a Foreign Lender is not the beneficial owner, executed originals of IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN, a U.S. Tax Compliance Certificate substantially in the form of Exhibit G-3 or Exhibit G-4, IRS Form W-9, and/or other certification documents from each beneficial owner, as applicable; provided that if the Foreign Lender is a partnership and one or more direct or indirect partners of such Foreign Lender are claiming the portfolio interest exemption, such Foreign Lender may provide a U.S. Tax Compliance Certificate substantially in the form of Exhibit G-2 on behalf of each such direct and indirect partner;
(C)    any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Company and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Company or the Administrative Agent), executed originals of any other form prescribed by applicable law as a basis for claiming exemption from or a reduction in U.S. Federal withholding Tax, duly completed, together with such supplementary documentation as may be prescribed by applicable law to permit the Company or the Administrative Agent to determine the withholding or deduction required to be made; and
(D)    if a payment made to a Lender under any Loan Document would be subject to U.S. Federal withholding Tax imposed by FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 

10

1472(b) of the Code, as applicable), such Lender shall deliver to the Company and the Administrative Agent at the time or times prescribed by law and at such time or times reasonably requested by the Company or the Administrative Agent such documentation prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Company or the Administrative Agent as may be necessary for the Company and the Administrative Agent to comply with their obligations under FATCA and to determine that such Lender has complied with such Lender’s obligations under FATCA or to determine the amount to deduct and withhold from such payment.  Solely for purposes of this clause (D), “FATCA” shall include any amendments made to FATCA after the date of this Agreement.
(iii)    Each Lender agrees that if any form or certification it previously delivered expires or becomes obsolete or inaccurate in any respect, it shall update such form or certification or promptly notify the Company and the Administrative Agent in writing of its legal inability to do so.
(g)    Treatment of Certain Refunds.  If any party determines, in its sole discretion exercised in good faith, that it has received a refund of any Taxes as to which it has been indemnified pursuant to this Section 3.5 (including by the payment of additional amounts pursuant to this Section 3.5), it shall pay to the indemnifying party an amount equal to such refund (but only to the extent of indemnity payments made under this Section 3.5 with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses (including Taxes) of such indemnified party and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund).  Such indemnifying party, upon the request of such indemnified party, shall repay to such indemnified party the amount paid over pursuant to this paragraph (g) (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) in the event that such indemnified party is required to repay such refund to such Governmental Authority.  Notwithstanding anything to the contrary in this paragraph (g), in no event will the indemnified party be required to pay any amount to an indemnifying party pursuant to this paragraph (g) the payment of which would place the indemnified party in a less favorable net after-Tax position than the indemnified party would have been in if the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts with respect to such Tax had never been paid.  This paragraph shall not be construed to require any indemnified party to make available its Tax returns (or any other information relating to its Taxes that it deems confidential) to the indemnifying party or any other Person.
(h)    Survival.  Each party’s obligations under this Section 3.5 shall survive the resignation or replacement of the Administrative Agent or any 

11

assignment of rights by, or the replacement of, a Lender, subject to the provisions of Section 10.6 and Section 12.1, respectively, the termination of the Commitments and the repayment, satisfaction or discharge of all obligations under any Loan Document.
(i)    LC Issuer.  For purposes of this Section 3.5, the term “Lender” includes any LC Issuer and the term “applicable law” includes FATCA.
(p)    Article V of the Credit Agreement is hereby amended by adding a new Section 5.19 as follows:
5.19    Sanction Laws and Regulations.
None of the Company, or, to the best of its knowledge, any of its directors, officers or Affiliates or any of its brokers or other agents acting or benefiting in any capacity in connection with the Loan Documents, is a Designated Person.
(q)    Article VI of the Credit Agreement is hereby amended by adding a new Section 6.13 as follows:
6.13    Sanction Laws and Regulations.
The Borrowers shall not knowingly use the proceeds of this Agreement, or knowingly lend, contribute or otherwise make available such proceeds to any Subsidiary, joint venture partner or other person or entity (a) to, directly or indirectly, fund any activities or business of or with any Designated Person, or in any country or territory, that at the time of such funding is the subject of any sanctions under any Sanctions Laws and Regulations, or (b) in any other manner that would result in a violation of any Sanctions Laws and Regulations by any party to this Agreement.  
(r)    Section 12.1(d) of the Credit Agreement is amended by deleting the references therein to “Section 3.5(d)” and replacing them with references to “Section 3.5(f)” and is hereby further amended by adding to the end of the last paragraph the following new sentence:
For the avoidance of doubt, the Administrative Agent (in its capacity as Administrative Agent) shall have no responsibility for maintaining a Participant Register.
(s)    Schedule 1.1 of the Credit Agreement is hereby deleted.
(t)    Schedule 2.1(a) of the Credit Agreement is hereby deleted and replaced with the form of Schedule 2.1(a) attached hereto as Exhibit A.
(u)    Schedule 4 of the Credit Agreement is hereby deleted and replaced with the form of Schedule 4 attached hereto as Exhibit B.

12

(v)    Schedule 13.1 of the Credit Agreement is hereby deleted and replaced with the form of Schedule 13.1 attached hereto as Exhibit C.
(w)    Exhibit G-1, Exhibit G-2, Exhibit G-3 and Exhibit G-4 in the form of the exhibits attached hereto as Exhibit D are added to the Credit Agreement.
2.    New Lenders.  The parties agree that, as of the Effective Date, each New Lender shall become a “Lender” under the Credit Agreement, as amended hereby, with all the rights and duties of a “Lender” thereunder and with a Commitment in the amount specified opposite its name on Exhibit A hereto.
3.    Representations and Warranties of the Borrower.  The Borrower represents and warrants that as of the Effective Date:
(a)    The execution, delivery and performance by the Borrower of this Amendment have been duly authorized by all necessary corporate action and that this Amendment is a legal, valid and binding obligation of the Borrower enforceable against the Borrower in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency, or similar Laws affecting creditors’ rights generally;
(b)    Each of the representations and warranties contained in the Credit Agreement (treating this Amendment as a Loan Document for purposes thereof) is true and correct in all material respects on and as of the Effective Date except to the extent any such representation or warranty is stated to relate solely to an earlier date, in which case such representation or warranty was true and correct in all material respects on and as of such earlier date; and
(c)    No Default or Unmatured Default has occurred and is continuing, nor would a Default or Unmatured Default result from this Amendment.
4.    Effective Date.  This Amendment shall become effective on the date and at the time (the “Effective Date”) upon which all of the following conditions have been satisfied:
(a)    the execution and delivery of this Amendment by the Borrower, the Administrative Agent and each of the financial institutions identified on the signature pages hereto;
(b)    the execution and delivery of an Exiting Lender Consent, in form and substance reasonably satisfactory to the Administrative Agent, by the Borrower, the Administrative Agent and each “Lender” under the Credit Agreement as in effect immediately prior hereto which is not identified as a Lender with a Commitment on Exhibit A hereto (each an “Exiting Lender”);
(c)    the Administrative Agent (or its counsel) shall have received such documents and certificates as are customary for a transaction of this kind relating to the organization, existence and good standing of the Borrower, the authorization of this Amendment and other 

13

legal matters relating to the Borrower, all in form and substance reasonably satisfactory to the Administrative Agent and its counsel;
(d)    the Administrative Agent (or its counsel) shall have received a certificate signed by the Chief Financial Officer or Treasurer of the Borrower dated the Effective Date, certifying that (i) the representations and warranties contained in Article V of the Credit Agreement and in each other Loan Document are true and correct in all material respects on and as of the Effective Date except to the extent any such representation or warranty is stated to relate solely to an earlier date, in which case such representation or warranty was true and correct in all material respects on and as of such earlier date, (ii) no Default or Unmatured Default has occurred and is continuing nor would a Default or Unmatured Default result from this Amendment and (iii) since December 31, 2012 there has not occurred a Material Adverse Effect;
(e)    the Administrative Agent shall have received reasonably satisfactory opinions of counsel to the Borrower (which shall cover, among other things, authority, legality, validity, binding effect and enforceability of this Amendment and the Credit Agreement as amended thereby);
(f)    the Administrative Agent shall have received evidence satisfactory to it that the Borrower has paid, or substantially concurrently with the effectiveness of this Amendment the Borrower is paying, (i) all outstanding principal of all Loans, Swingline Loans and LC Borrowings and (ii) all accrued interest and fees owing pursuant to the Credit Agreement, it being understood that any such payments may be made out of the proceeds of loans made on the Effective Date;
(g)    if requested at least 10 days prior to the Effective Date, the Administrative Agent and the Lenders shall have received, at least 5 days prior to the Effective Date, all documentation and other information reasonably requested by them and required by regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including the PATRIOT Act; and
(h)    the Lenders, the Administrative Agent and the lead arrangers shall have received all fees required to be paid, and all reasonable expenses for which invoices have been presented by the Administrative Agent, on or before the Effective Date.
In the event the Effective Date has not occurred on or before June 30, 2013, this Amendment shall not become operative and shall be of no force or effect.
5.    Reference to and Effect Upon the Credit Agreement; Other.
(a)    Except as specifically amended above, the Credit Agreement and the other Loan Documents shall remain in full force and effect and are hereby ratified and confirmed.  This Amendment shall constitute a Loan Document.

14

(b)    The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of the Administrative Agent or any Lender under the Credit Agreement or any other Loan Document, nor constitute a waiver of any provision of the Credit Agreement or any other Loan Document, except as specifically set forth herein.  Upon the effectiveness of this Amendment, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof”, “herein” or words of similar import shall mean and be a reference to the Credit Agreement as amended hereby and each reference in any other Loan Document to the Credit Agreement shall mean and be a reference to the Credit Agreement as amended hereby.
(c)    The Borrower acknowledges and agrees that, if any Loan is being repaid on the Effective Date pursuant to Section 4(f) of this Amendment, to the extent the Effective Date is not the last day of the Interest Period applicable to such Loan, the Borrower shall be liable for “breakage costs” with respect to such repayment as and to the extent set forth in Section 3.4 of the Credit Agreement.
(d)    As of the Effective Date, participations in all outstanding Facility LC’s shall be reallocated such that each Lender shall have a participation in each Facility LC (and each Modification thereof) and the related LC Obligations in proportion to its Pro Rata Share of the Aggregate Commitment (determined after giving effect to any changes in Commitments on the Effective Date).
6.    Costs and Expenses.  The Borrower hereby affirms its obligation under Section 9.6 of the Credit Agreement to reimburse the Administrative Agent for all reasonable out-of-pocket expenses incurred by the Administrative Agent in connection with the preparation, negotiation, execution and delivery of this Amendment, including but not limited to the reasonable fees, charges and disbursements of attorneys for the Administrative Agent with respect thereto.
7.    Governing Law.  This Amendment shall be governed by, construed and enforced in accordance with the laws of the State of New York, including Section 5-1401 and Section 5-1402 of the general obligation law of the State of New York, without reference to any other conflicts of law principles thereof.
8.    Headings.  Section headings in this Amendment are included herein for convenience of reference only and shall not constitute a part of this Amendment for any other purposes.
9.    Counterparts.  This Amendment may be executed in any number of counterparts, each of which when so executed shall be deemed an original but all such counterparts shall constitute one and the same instrument.  Delivery of an executed signature page of this Amendment by facsimile transmission or electronic mail shall be effective as delivery of manually executed counterpart hereof.
[signature pages follow]

15

IN WITNESS WHEREOF, the parties have executed this Amendment as of the date and year first above written.
CARDINAL HEALTH, INC., as Borrower
By  /s/ Samer Abdul-Samad     
Name: Samer Abdul-Samad 
Title: Senior Vice President and Treasurer

[Signature Page to Amendment No. 1 to Five-Year Credit Agreement]

JPMORGAN CHASE BANK, N.A., individually and as Administrative Agent
By  /s/ Dana J. Moran     
Name: Dana J. Moran 
Title: Vice President

[Signature Page to Amendment No. 1 to Five-Year Credit Agreement]

BANK OF AMERICA, N.A.
By  /s/ Zubin R. Shroff     
Name: Zubin R. Shroff 
Title: Director

[Signature Page to Amendment No. 1 to Five-Year Credit Agreement]

MORGAN STANLEY BANK, N.A.
By  /s/ Kelly Chin     
Name: Kelly Chin 
Title: Authorized Signatory

[Signature Page to Amendment No. 1 to Five-Year Credit Agreement]

BARCLAYS BANK PLC
By  /s/ Alicia Borys     
Name: Alicia Borys 
Title: Vice President

[Signature Page to Amendment No. 1 to Five-Year Credit Agreement]

DEUTSCHE BANK AG NEW YORK BRANCH
By  /s/ Ming K. Chu     
Name: Ming K. Chu 
Title: Vice President
By  /s/ Virginia Cosenza     
Name: Virginia Cosenza 
Title: Vice President

[Signature Page to Amendment No. 1 to Five-Year Credit Agreement]

GOLDMAN SACHS BANK USA
By  /s/ Mark Walton     
Name: Mark Walton 
Title: Authorized Signatory

[Signature Page to Amendment No. 1 to Five-Year Credit Agreement]

HSBC BANK USA, NATIONAL ASSOCIATION
By  /s/ James P. Kelly     
Name: James P. Kelly 
Title: Managing Director

[Signature Page to Amendment No. 1 to Five-Year Credit Agreement]

THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.
By  /s/ Brian McNany     
Name: Brian McNany 
Title: Vice President

[Signature Page to Amendment No. 1 to Five-Year Credit Agreement]

WELLS FARGO BANK, NATIONAL ASSOCIATION
By  /s/ Andrea S. Chen     
Name: Andrea S. Chen 
Title: Director

[Signature Page to Amendment No. 1 to Five-Year Credit Agreement]

PNC BANK, NATIONAL ASSOCIATION
By  /s/ Steven P. Shepard     
Name: Steven P. Shepard 
Title: Executive Vice President

[Signature Page to Amendment No. 1 to Five-Year Credit Agreement]

SUNTRUST BANK
By  /s/ Elizabeth Greene     
Name: Elizabeth Greene 
Title: Managing Director

[Signature Page to Amendment No. 1 to Five-Year Credit Agreement]

THE BANK OF NOVA SCOTIA
By  /s/ Justin Perdue     
Name: Justin Perdue 
Title: Director

[Signature Page to Amendment No. 1 to Five-Year Credit Agreement]

U.S. BANK, NATIONAL ASSOCIATION
By  /s/ Jennifer Hwang     
Name: Jennifer Hwang 
Title: Vice President

[Signature Page to Amendment No. 1 to Five-Year Credit Agreement]

THE HUNTINGTON NATIONAL BANK
By  /s/ Amanda M. Sigg     
Name: Amanda M. Sigg 
Title: Vice President

[Signature Page to Amendment No. 1 to Five-Year Credit Agreement]

Standard Chartered Bank, as a Lender
By  /s/ Brendan Herley     
Name: Brendan Herley 
Title: Director, Capital Markets
By  /s/ Robert K. Reddington     
Name: Robert K. Reddington 
Title: Credit Documentation Manager, Credit Documentation Unit, WB Legal Americas

[Signature Page to Amendment No. 1 to Five-Year Credit Agreement]

CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK
By  /s/ Thomas Randolph     
Name: Thomas Randolph 
Title: Managing Director
By  /s/ Amy Trapp     
Name: Amy Trapp 
Title: Managing Director

[Signature Page to Amendment No. 1 to Five-Year Credit Agreement]

ROYAL BANK OF CANADA
By  /s/ Scott MacVicar     
Name: Scott MacVicar 
Title: Authorized Signatory

[Signature Page to Amendment No. 1 to Five-Year Credit Agreement]

EXHIBIT A
SCHEDULE 2.1(a)
COMMITMENTS

	
										
	Lender
	Dollar 
Commitment
	Multicurrency 
Commitment
	Total 
Commitment

	JPMorgan Chase Bank, N.A.
	

	$116,666,666.66
	

	

	$23,333,333.34
	

	

	$140,000,000
	

	Bank of America, N.A.
	

	$116,666,666.67
	

	

	$23,333,333.33
	

	

	$140,000,000
	

	Morgan Stanley Bank, N.A.
	

	$116,666,666.67
	

	

	$23,333,333.33
	

	

	$140,000,000
	

	Barclays Bank PLC
	

	$100,000,000.00
	

	

	$20,000,000.00
	

	

	$120,000,000
	

	Deutsche Bank AG New York Branch
	

	$100,000,000.00
	

	

	$20,000,000.00
	

	

	$120,000,000
	

	Goldman Sachs Bank USA
	

	$100,000,000.00
	

	

	$20,000,000.00
	

	

	$120,000,000
	

	HSBC Bank USA, National Association
	

	$100,000,000.00
	

	

	$20,000,000.00
	

	

	$120,000,000
	

	The Bank of Tokyo-Mitsubishi UFJ, Ltd.
	

	$100,000,000.00
	

	

	$20,000,000.00
	

	

	$120,000,000
	

	Wells Fargo Bank, National Association
	

	$100,000,000.00
	

	

	$20,000,000.00
	

	

	$120,000,000
	

	PNC Bank, National Association
	

	$37,500,000.00
	

	

	$7,500,000.00
	

	

	$45,000,000
	

	SunTrust Bank
	

	$37,500,000.00
	

	

	$7,500,000.00
	

	

	$45,000,000
	

	The Bank of Nova Scotia
	

	$37,500,000.00
	

	

	$7,500,000.00
	

	

	$45,000,000
	

	U.S. Bank, National Association
	

	$37,500,000.00
	

	

	$7,500,000.00
	

	

	$45,000,000
	

	The Huntington National Bank
	

	$37,500,000.00
	

	

	$7,500,000.00
	

	

	$45,000,000
	

	Standard Chartered Bank
	

	$37,500,000.00
	

	

	$7,500,000.00
	

	

	$45,000,000
	

	Credit Agricole Corporate and Investment Bank
	

	$37,500,000.00
	

	

	$7,500,000.00
	

	

	$45,000,000
	

	Royal Bank of Canada
	

	$37,500,000.00
	

	

	$7,500,000.00
	

	

	$45,000,000
	

	 
	 
	 
	 

	 
	Total: $1,250,000,000
	

	Total: $250,000,000
	

	Total: $1,500,000,000
	

EXHIBIT B
SCHEDULE 4
PRICING SCHEDULE
The Applicable Margin shall be as determined by the matrix below:
	
							
	 
	Level I Status
	Level II Status
	Level III Status
	Level IV Status
	Level V Status
	Level VI Status

	Reference Rating S&P/Moody’s/Fitch
	≥A/A2/A
	A-/A3/A-
	BBB+/Baa1/BBB+
	BBB/Baa2/BBB
	BBB-/Baa3/ BBB-
	≤BB+/Ba1/BB+

	Facility Fee
	8.0 bps
	10.0 bps
	12.5 bps
	15.0 bps
	20.0 bps
	25.0 bps

	Eurocurrency Rate  Loan Applicable Margin and LC Fee
	67.0 bps
	77.5 bps
	100.0 bps
	110.0 bps
	130.0 bps
	150.0 bps

	Floating Rate Loan Applicable Margin
	0.0 bps
	0.0 bps
	0.0 bps
	10.0 bps
	30.0 bps
	50.0 bps

	All-in Drawn Cost for Eurocurrency Rate Loans
	75.0 bps
	87.5 bps
	112.5 bps
	125.0 bps
	150.0 bps
	175.0 bps

Commencing on the Amendment No. 1 Date, the initial pricing Level shall be Level III based upon the Company’s current A- (S&P)/Baa2 (Moody’s)/BBB + (Fitch) senior unsecured long-term debt ratings.
For the purpose of this Pricing Schedule, the following terms have the following meanings, subject to the final three paragraphs of this Schedule:
“Fitch Rating” means, at any time, the rating issued by Fitch and then in effect with respect to the Company’s senior unsecured long-term debt securities without third-party credit enhancement.
“Level I Status” exists at any date if, on such date, the Company’s Moody’s Rating is A2 or better / the Company’s S&P Rating is A or better / the Company’s Fitch Rating is A or better.
“Level II Status” exists at any date if, on such date, the Company has not qualified for Level I Status / the Company’s Moody’s Rating is A3 or better / the Company’s S&P Rating is A- or better / the Company’s Fitch Rating is A- or better.
“Level III Status” exists at any date if, on such date, the Company has not qualified for Level I Status or Level II Status / the Company’s Moody’s Rating is Baa1 or better / the Company’s S&P Rating is BBB+ or better / the Company’s Fitch Rating is BBB+ or better.
“Level IV Status” exists at any date if, on such date, the Company has not qualified for Level I Status, Level II Status or Level III Status / the Company’s Moody’s Rating is Baa2 or better / the Company’s S&P Rating is BBB or better / the Company’s Fitch Rating is BBB or better.
“Level V Status” exists at any date if, on such date, the Company has not qualified for Level I Status, Level II Status, Level III Status or Level IV Status / the Company’s Moody’s Rating is 

Baa3 or better / the Company’s S&P rating is BBB- or better / the Company’s Fitch rating is BBB- or better.
“Level VI Status” exists at any date if, on such date, the Company has not qualified for Level I Status, Level II Status, Level III Status, Level IV Status or Level V Status.
“Moody’s Rating” means, at any time, the rating issued by Moody’s and then in effect with respect to the Company’s senior unsecured long-term debt securities without third-party credit enhancement.
“S&P Rating” means, at any time, the rating issued by S&P, and then in effect with respect to the Company’s senior unsecured long-term debt securities without third-party credit enhancement.
“Status” means Level I Status, Level II Status, Level III Status, Level IV Status, Level V Status or Level VI Status.
The Applicable Margin shall be determined in accordance with the foregoing table based on the Company’s Status as determined from its then-current Moody’s, S&P and Fitch Ratings.  The credit rating in effect on any date for the purposes of this Schedule is that in effect at the close of business on such date.  If at any time the Company only has one (1) rating from either S&P, Moody’s or Fitch, then such rating shall apply.  If at any time the Company does not have a rating from at least one of S&P, Moody’s or Fitch, Level VI Status shall exist.
In the event that a split occurs between the three (3) ratings, then the following shall apply:
		
	(a) 
	if two (2) of the three (3) ratings established by or deemed to have been established by S&P, Moody’s or Fitch fall within the same Level, but one (1) rating falls within a different Level, the Applicable Margin shall be based upon the two (2) ratings that fall within the same Level; and

		
	(b) 
	if all three (3) ratings established by or deemed to have been established by S&P, Moody’s or Fitch each falls within a different Level, the Applicable Margin shall be based upon the middle rating of the three (3).

In the event that the Company has only two (2) ratings and a split occurs between these ratings, then the following shall apply:
(a)     if the two (2) ratings established by or deemed to have been established by S&P, Moody’s or Fitch differ by one Level, the Applicable Margin shall be based upon the higher rating of the two (2); and
(b)    if the two (2) ratings established by or deemed to have been established by S&P, Moody’s or Fitch differ by more than one Level, the Applicable Margin shall be based upon a rating that would be one Level higher (with Level I being the highest Level and Level VI being the lowest level) than the lower  rating.

EXHIBIT C
Schedule 13.1
ADMINISTRATIVE AGENT’S OFFICE;
CERTAIN ADDRESSES FOR NOTICES
COMPANY 
and DESIGNATED BORROWERS:

Cardinal Health, Inc.
7000 Cardinal Place
Dublin, Ohio 43017
Attention: Matthew Blake
Telephone: 614-553-3560
Electronic Mail:  Matthew.Blake@cardinalhealth.com
Website Address:  www.cardinalhealth.com

ADMINISTRATIVE AGENT:  
Administrative Agent’s Office
(for payments and Requests for Credit Extensions):
JPMorgan Chase Bank, N.A.
10 South Dearborn, Floor 7
Mail Code:  IL1-0010
Chicago, IL  60603
Attention:  Joyce King
Telephone:  312-385-7025
Telecopier:  1-888-292-9533
Electronic Mail:  jpm.agency.servicing4@jpmchase.com

JPMorgan Chase Bank, N.A.
New York, NY
Account No. (for Dollars):  
ABA#  
Ref:  Cardinal Health

(for payments and Requests for Credit Extensions in foreign currency):
J.P. Morgan Europe Limited
25 Bank Street 
Canary Wharf
London, E14 5JP, United Kingdom
Attention:  Loan Agency Group

Telephone:  +44 207 1348187
Telecopier:  +44 207 7772360
Electronic Mail:  loan_and_agency_london@jpmorgan.com

(in EUROs):
Pay: J.P. Morgan AG Frankfurt  (Swift - CHASDEFX)
Favour: J.P. Morgan Europe Limited, London (Swift - CHASGB22)
A/C no.: 
REF AGENCY

(in GBP):
Pay J.P.Morgan Europe Limited (CHASGB22)
Sort code 405206
Account number 
REF AGENCY

Other Notices as Administrative Agent:
JPMorgan Chase Bank, N.A.
10 South Dearborn, Floor 7
Mail Code:  IL1-0010
Chicago, IL  60603
Attention:  Joyce King
Telephone:  312-385-7025
Telecopier:  1-888-292-9533
Electronic Mail:  jpm.agency.servicing4@jpmchase.com

With a copy to:
JPMorgan Chase Bank, N.A.
10 South Dearborn, Floor 9
Mail Code:  IL1-0364
Chicago, IL  60603
Attention:  Dana Moran
Telephone:  312-732-8159
Telecopier:  312-212-5914
Electronic Mail:  dana.j.moran@jpmorgan.com

LC ISSUER:

JPMorgan Chase Bank, N.A.
10 South Dearborn, Floor 7
Mail Code:  IL1-0010
Chicago, IL  60603
Attention: Debra Williams
Telephone:  312-732-2590
Telecopier:  312-385-7107
Electronic Mail:  Chicago.lc.agency.activity.team@jpmchase.com

Bank of America, N.A.
Trade Finance Services

1 Fleet Way
Mail Code:  PA6-580-02-30
Scranton, PA 18507
Attention:  John Yzeik
Telephone:  570-330-4315
Telecopier:  570-330-4186
Electronic Mail:  john.p.yzeik@bankofamerica.com

SWINGLINE LENDER:

(in dollars):
JPMorgan Chase Bank, N.A.
10 South Dearborn, Floor 7
Mail Code:  IL1-0010
Chicago, IL  60603
Attention:  Joyce King
Telephone:  312-385-7025
Telecopier:  1-888-292-9533
Electronic Mail:  jpm.agency.servicing4@jpmchase.com

JPMorgan Chase Bank, N.A.
New York, NY
Account No.:  
ABA#  
Ref:  Cardinal Health

(in Canadian dollars):

JPMorgan Chase Bank, N.A.
10 South Dearborn, Floor 7
Mail Code:  IL1-0010
Chicago, IL  60603
Attention:  Kevin Berry
Telephone:  312-732-4836
Telecopier:  1-888-292-9533
Electronic Mail:  kevin.m.berry@jpmorgan.com

Royal Bank of Canada, Toronto
SWIFT BIC: ROYCCAT2
180 Wellington Street,Toronto ,Ontario M5J 1J1
For Account: JPMorgan Chase Bank, N.A., Toronto Branch
SWIFT BIC: CHASCATT
200 Bay Street,RBC Plaza 18th Floor
South Tower, Toronto, Ontario M5J 2J2
Account Number: 
Reference: Cardinal Health, Inc.

(in other foreign currency):

J.P. Morgan Europe Limited
25 Bank Street 
Canary Wharf
London, E14 5JP, United Kingdom
Attention:  Loan Agency Group
Telephone:  +44 207 1348187
Telecopier:  +44 207 7772360
Electronic Mail:  loan_and_agency_london@jpmorgan.com

(in EUROs):
Pay: J.P. Morgan AG Frankfurt  (Swift - CHASDEFX)
Favour: J.P. Morgan Europe Limited, London (Swift - CHASGB22)
A/C no.:
REF AGENCY

(in GBP):
Pay J.P.Morgan Europe Limited (CHASGB22)
Sort code 405206
Account number 
REF AGENCY

EXHIBIT D
EXHIBIT G-1
FORM OF U.S. TAX CERTIFICATE
(For Non-U.S. Lenders That Are Not Partnerships For U.S. Federal Income Tax Purposes)
Reference is hereby made to the Five-Year Credit Agreement (as amended, restated, supplemented or otherwise modified and in effect from time to time, the “Credit Agreement”) dated as of May 12, 2011 among Cardinal Health, Inc. (the “Company”), the Subsidiary Borrowers from time to time party thereto, the Lenders from time to time party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent.
Pursuant to the provisions of Section 3.5 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record and beneficial owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) it is not a bank within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a ten percent shareholder of any Borrower within the meaning of Section 871(h)(3)(B) of the Code, (iv) it is not a controlled foreign corporation related to any Borrower as described in Section 881(c)(3)(C) of the Code and (v) the interest payments in question are not effectively connected with the undersigned’s conduct of a U.S. trade or business.
The undersigned has furnished the Administrative Agent and the Company with a certificate of its non-U.S. person status on IRS Form W-8BEN.  By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform the Company and the Administrative Agent and (2) the undersigned shall have at all times furnished the Company and the Administrative Agent with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments.
Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement.
[NAME OF LENDER]
By:______________________________________ 
    Name: 
    Title:
Date: ________ __, 20__

EXHIBIT G-2
FORM OF U.S. TAX CERTIFICATE
(For Non-U.S. Lenders That Are Partnerships For U.S. Federal Income Tax Purposes)
Reference is hereby made to the Five-Year Credit Agreement (as amended, restated, supplemented or otherwise modified and in effect from time to time, the “Credit Agreement”) dated as of May 12, 2011 among Cardinal Health, Inc. (the “Company”), the Subsidiary Borrowers from time to time party thereto, the Lenders from time to time party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent.
Pursuant to the provisions of Section 3.5 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) its partners/members are the sole beneficial owners of such Loan(s) (as well as any Note(s) evidencing such Loan(s)), (iii) with respect to the extension of credit pursuant to this Credit Agreement, neither the undersigned nor any of its partners/members is a bank extending credit pursuant to a loan agreement entered into in the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its partners/members is a ten percent shareholder of any Borrower within the meaning of Section 871(h)(3)(B) of the Code, (v) none of its partners/members is a controlled foreign corporation related to any Borrower as described in Section 881(c)(3)(C) of the Code, and (vi) the interest payments in question are not effectively connected with the undersigned’s or its partners/members’ conduct of a U.S. trade or business.
The undersigned has furnished the Administrative Agent and the Company with IRS Form W-8IMY accompanied by an IRS Form W-8BEN from each of its partners/members claiming the portfolio interest exemption.  By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform the Company and the Administrative Agent and (2) the undersigned shall have at all times furnished the Company and the Administrative Agent with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments.
Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement.
[NAME OF LENDER]
By:______________________________________ 
    Name: 
    Title:
Date: ________ __, 20__

EXHIBIT G-3
FORM OF U.S. TAX CERTIFICATE
(For Non-U.S. Participants That Are Not Partnerships 
For U.S. Federal Income Tax Purposes)
Reference is hereby made to the Five-Year Credit Agreement (as amended, restated, supplemented or otherwise modified and in effect from time to time, the “Credit Agreement”) dated as of May 12, 2011 among Cardinal Health, Inc. (the “Company”), the Subsidiary Borrowers from time to time party thereto, the Lenders from time to time party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent.
Pursuant to the provisions of Section 3.5 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record and beneficial owner of the participation in respect of which it is providing this certificate, (ii) it is not a bank within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a ten percent shareholder of any Borrower within the meaning of Section 871(h)(3)(B) of the Code, (iv) it is not a controlled foreign corporation related to any Borrower as described in Section 881(c)(3)(C) of the Code, and (v) the interest payments in question are not effectively connected with the undersigned’s conduct of a U.S. trade or business.
The undersigned has furnished its participating Lender with a certificate of its non-U.S. person status on IRS Form W-8BEN.  By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform such Lender in writing and (2) the undersigned shall have at all times furnished such Lender with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments.
Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement.
[NAME OF LENDER]
By:______________________________________ 
    Name: 
    Title:
Date: ________ __, 20__

EXHIBIT G-4
FORM OF U.S. TAX CERTIFICATE
(For Non-U.S. Participants That Are Partnerships For U.S. Federal Income Tax Purposes)
Reference is hereby made to the Five-Year Credit Agreement (as amended, restated, supplemented or otherwise modified and in effect from time to time, the “Credit Agreement”) dated as of May 12, 2011 among Cardinal Health, Inc. (the “Company”), the Subsidiary Borrowers from time to time party thereto, the Lenders from time to time party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent.
Pursuant to the provisions of Section 3.5 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record owner of the participation in respect of which it is providing this certificate, (ii) its partners/members are the sole beneficial owners of such participation, (iii) with respect to such participation, neither the undersigned nor any of its partners/members is a bank extending credit pursuant to a loan agreement entered into in the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its partners/members is a ten percent shareholder of any Borrower within the meaning of Section 871(h)(3)(B) of the Code, (v) none of its partners/members is a controlled foreign corporation related to any Borrower as described in Section 881(c)(3)(C) of the Code, and (vi) the interest payments in question are not effectively connected with the undersigned’s or its partners/members’ conduct of a U.S. trade or business.
The undersigned has furnished its participating Lender with IRS Form W-8IMY accompanied by an IRS Form W-8BEN from each of its partners/members claiming the portfolio interest exemption.  By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform such Lender and (2) the undersigned shall have at all times furnished such Lender with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments.
Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement.
[NAME OF PARTICIPANT]
By:______________________________________ 
    Name: 
    Title:
Date: ________ __, 20__eeagreeguichard0613.htm

Exhibit 10.1

 

AMENDED AND RESTATED EMPLOYMENT AGREEMENT

 

 

                THIS AGREEMENT was originally made as of September 1, 2008 between Mr. Kent Guichard (the “Employee”) and American Woodmark Corporation, a Virginia corporation (the “Company”), and is hereby amended and restated by the Employee and the Company as of May 31, 2013 (the “Amended and Restated Effective Date”).

 

                WHEREAS, the Company and the Employee each desire to amend and restate the Agreement to address certain matters, and have the power to do so.

 

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

 

                 1.    Employment.    The Company hereby employs the Employee and the Employee hereby accepts employment upon and agrees to the terms and conditions set forth herein.

 

                 2.    Term.    The term of employment under this Agreement, as amended and restated herein (the “Term”), shall commence upon the execution of this Agreement and end on December 31, 2013; provided, however, that beginning on January 1, 2014, and each January 1 thereafter, the Term of this Agreement shall automatically be extended for one additional calendar year unless, on or before November 1 of the preceding calendar year, either party gives notice that employment under this Agreement will not be so extended; and further provided that if a Change of Control (as defined below) occurs during the original or extended Term of this Agreement, this Agreement shall continue in effect for a period of 24 months beyond the month in which the Change of Control occurred.

 

                Notwithstanding the foregoing, this Agreement shall terminate immediately upon the Employee’s death, disability, retirement or voluntary resignation, as provided in Section 7(c).

 

               3.   Compensation.

 

                                          (a)     Salary.   During the Employee’s employment hereunder, the Company shall pay the Employee for all services rendered by the Employee a base salary at an annual rate of at least $650,000, with annual adjustments as the Board of Directors of the Company (the “Board”) or the Compensation Committee of the Board (the “Committee”) may approve from time to time. Such salary shall be payable to the Employee in accordance with the Company’s usual payroll practices for salaried employees.

 

                                          (b)     Annual Cash Bonus.   In addition to base salary, the Employee shall be eligible to participate in the Company’s annual incentive program with a bonus opportunity of between 0% and 150% of the Employee’s base salary. The actual amount of such bonus for any fiscal year shall be related to the achievement of certain performance objectives to be set at the beginning of each fiscal year by the Committee. Nothing in this Agreement, however, shall be construed as a guarantee of an annual payment of an annual cash bonus. The annual bonus, if any, shall be paid to the Executive in a single lump sum as soon as reasonably practicable following the end of the fiscal year to which it relates, but in no event later than 90 days after the end of the end of such fiscal year.

 

                                          (c)     Other Executive Compensation Benefits.   The Employee shall also be eligible for any other executive compensation policies, benefits, plans, or programs as are afforded generally by the Company from time to time to its senior personnel, including but not limited to grants of stock options and other equity awards and participation in the American Woodmark Corporation Pension Restoration Plan. Nothing in this Agreement, however, shall be construed as a guarantee that the Board or the Committee will approve any level of such benefits that are at the sole discretion of the Board or the Committee.

 

  

  

  

 

                                          (d)     Other Salaried Benefits.   The Employee shall also be eligible for any employee benefit plans, policies, or programs as are generally available from time to time to other salaried employees of the Company.

 

                 4.    Duties.    The Employee shall in general supervise and control all of the business and affairs of the Company and in general shall faithfully and to the best of his ability perform all duties incident to the offices of Chairman and Chief Executive Officer of the Company and such other duties and responsibilities as may be reasonably assigned by the Board.

 

                 5.   Extent of Services.    During the Employee’s employment hereunder, the Company expects and the Employee agrees that the Employee shall devote sufficient time, attention and energy to the business of the Company so as to adequately fulfill his assigned duties and responsibilities. Furthermore, the Company and the Employee agree that the business of the Company shall take reasonable priority over any other active business engaged in by the Employee.

 

                6.   Restrictive Covenants.

 

                                          (a)     Non-competition Restriction.   Except with the prior written consent of the Company, the Employee shall not, either during his employment hereunder or for the period of time after termination of his employment hereunder during which the Employee accepts severance payments pursuant to Section 7(b) (if applicable), directly or indirectly manage, operate, control, be employed by, participate in, consult with, render services to, or be connected in any manner with the management, operation, ownership or control of any business or venture in competition in the United States with the business of the Company. For purposes of this Section 6(a), a business or venture shall be deemed to be in competition with the business of the Company if that business or venture or any of its affiliates manufactures, distributes, or otherwise engages in the design, sale, or transportation of cabinets for residential use, including but not limited to, such cabinet products intended for primary use in the kitchen or bathroom. Nothing in this Section 6(a), however, shall prohibit the Employee from owning securities of the Company or from owning as an inactive investor up to 5% of the outstanding voting securities of any issuer that is listed on the New York Stock Exchange, American Stock Exchange or NASDAQ Stock Market or any of their respective successors. If the Employee directly or indirectly manages, operates, controls, is employed by, participates in, consults with, renders services to, or is connected in any manner with the management, operation, ownership or control of any business or venture that is in competition in the United States with the business of the Company, the Company shall be entitled to immediately terminate any and all severance payments being made to Employee pursuant to Section 7(b), if any, and any other benefits to which the Employee would otherwise be entitled under this Agreement.

 

                                          (b)     Non-solicitation Agreement.   Except with the prior written consent of the Company, the Employee shall not directly or indirectly seek to employ, entice away or in any other manner persuade or attempt to persuade any person employed by the Company or any of its subsidiaries to leave the employ of any of them. Notwithstanding the foregoing, if any person employed by the Company or any of its subsidiaries who is not an officer, vice president, regional sales manager or operations manager of the Company or its subsidiaries actively seeks out the Employee and initiates contact with the Employee for purposes of obtaining employment with the Employee at the Employee’s then place of business, such action shall not constitute a violation of this provision. The provisions of this Section 6(b) shall remain in full force and effect for a period of 18 months after the end of the Term.

 

                                          (c)     Confidential Information.   The Employee further agrees to keep confidential, and not to use for his personal benefit or for any other person’s benefit, any and all proprietary information received by the Employee relating to inventions, products, production methods, financial matters, sources of supply, markets, marketing methods and customers of the Company in existence on the date hereof or developed by or for the Company during the Term. This Section 6(c) shall remain in full force and effect after the Term without limit in point of time, but shall cease to apply to information that legitimately comes into the public domain.

 

  

  

  

 

                                          (d)     Specific Enforcement.   It is agreed and understood by the parties hereto that, in view of the nature of the business of the Company, the restrictions in Sections 6(a), (b) and (c) above are reasonable and necessary to protect the legitimate interests of the Company, monetary damages alone are not an adequate remedy for any breach of such provisions, and any violation thereof would result in irreparable injuries to the Company. The Employee therefore acknowledges that, in the event of his violation of any of such restrictions, the Company shall be entitled to obtain from any court of competent jurisdiction preliminary and permanent injunctive relief as well as damages and an equitable accounting of all earnings, profits and other benefits arising from such violation, which rights shall be cumulative and in addition to any other rights or remedies to which the Company may be entitled.

 

                                          (e)     Extension.   If Employee breaches Section 6(a) above, the duration of the period identified shall be computed from the date he resumes compliance with the covenant or from the date Employer is granted injunctive or other equitable relief by a court of competent jurisdiction enforcing the covenant, whichever shall first occur, reduced by the number of days Employee was not in breach of the covenant after termination of employment, or any delay in filing suit, whichever is greater.

 

               7.   Termination of Employment and Severance Payments.

 

                                          (a)     Termination by the Company for Cause.   During the Term, the Company may terminate the Employee’s employment under this Agreement at any time for Cause (as hereinafter defined) upon written notice specifying the Cause and the date of termination. Payments under this Agreement shall cease as of the date of termination for Cause. For purposes of this Agreement, “Cause” means neglect of duty which is not corrected after 90 days’ written notice thereof; misconduct, malfeasance, fraud, or dishonesty which materially and adversely affects the Company or its reputation in the industry; or the conviction for, or the entering of a plea of nolo contendere to a felony or a crime involving moral turpitude.

 

                                          (b)     Termination by the Company without Cause or Decision by the Company to not Extend the Term.   During the Term, the Company may terminate the Employee’s employment under this Agreement at any time for any reason other than Cause upon written notice specifying the date of termination. If on an effective date that is during the Term, the Company terminates the Employee’s employment for reasons other than Cause (which includes but is not limited to termination by the Company for what the Company believes to be Cause when it is ultimately determined that the Employee was terminated without Cause) or the Company notifies the Employee in accordance with Section 2 that it has decided not to extend the Term of the Agreement, then the Company shall pay to the Employee for a period of 24 months severance payments equal in total to 2.00 times the sum of (i) the Employee’s annual base salary in effect on the effective date of the termination of the Employee’s employment or, if greater, the Employee’s largest annual base salary rate in effect during the Term of this Agreement, plus (ii) an amount equal to 90% times the base salary as determined in Section 7(b)(i) of this Agreement. Subject to payment timing requirements of subsection (f) below which may cause a delay in payments for the Employee, severance payments shall be made every two weeks for the 24 month period in accordance with the Company’s usual payroll practices for salaried employees beginning with the payroll period immediately following the Employee’s termination of employment. Notwithstanding the foregoing, if the Company terminates the Employee’s employment for reasons other than for Cause, or the Company notifies the Employee in accordance with Section 2 that it has decided not to extend the Term of the Agreement and such termination date or last day of the Term of the Agreement is within either (i) three months before a Change in Control, or (ii) one year after Change in Control, then the Employee shall receive the severance benefit under Section 7(e) rather than and in lieu of any amounts payable under this Section 7(b). The severance benefit payable pursuant to the preceding sentence shall be paid at the time and form set forth in Section 7(e).

 

                                          (c)     Termination in Event of Death, Disability, Retirement or Voluntary Resignation by the Employee.   If the Employee dies, becomes disabled, or retires during the Term, or if the Employee voluntarily terminates his employment during the Term under circumstances to which Section 7(d) does not apply, his employment under this Agreement shall terminate immediately and payment of his base salary hereunder shall cease as of the date of termination; provided, however, that the Company shall remain liable for payment of any compensation owing but not paid as of the date of termination for services rendered before termination of employment. For purposes of this Agreement, the Employee shall be deemed to be disabled if the Employee (i) is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, or (ii) is, by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, receiving income replacement benefits for a period of not less than 3 months under an accident and health plan covering employees of the Company.

 

  

  

  

 

                                          (d)     Termination on Change of Control.   By delivering 15 days’ written notice to the Company, the Employee may terminate his employment under this Agreement for any reason at any time within two years after a Change of Control. For purposes of this Agreement, “Change of Control” means an event described in (i), (ii), (iii), or (iv), subject to the requirements of (v) and (vi):  

 

	
  

	
(i)     The acquisition by a Group of Beneficial Ownership of 30% or more of the Stock or the Voting Power of the Company, but excluding for this purpose: (A) any acquisition of Stock by the Company (or a subsidiary), or an employee benefit plan of the Company; (B) any acquisition of Stock by management employees of the Company; or (C) the ownership of Stock by a Group that owns 30% or more of the Stock or Voting Power of the Company on the date of this Agreement; provided, however, that the acquisition of additional Stock by any such Group other than management employees in an amount greater than 5% of the then outstanding Stock shall not be excluded and shall constitute a Change of Control.

 

	
  

	
(ii)     Individuals who constitute the Board of Directors of the Company on the date of this Agreement (the “Incumbent Board”) cease to constitute at least a majority of the Board of Directors of the Company, provided that any individual who becomes a director of the Company subsequent to the date of this Agreement, whose election, or nomination for election by the Company’s shareholders, was approved by the vote of at least a majority of the directors then comprising the Incumbent Board shall be deemed a member of the Incumbent Board; and provided further, that any individual who was initially elected as a director of the Company as a result of an actual or threatened election contest, as such terms are used in Rule 14a-11 of Regulation 14A promulgated under the Securities Exchange Act of 1934, as amended (the “Act”), or any other actual or threatened solicitation of proxies or consents by or on behalf of any person other than the Board shall not be deemed a member of the Incumbent Board.

 

	
  

	
(iii)     Approval by the shareholders of the Company of a reorganization, merger or consolidation, in each case, in which the owners of 100% of the Stock or Voting Power of the Company do not, immediately following such reorganization, merger or consolidation, beneficially own, directly or indirectly, more than 50% of the outstanding shares of common stock or Voting Power of the corporation or other entity resulting from such reorganization, merger or consolidation.

 

	
  

	
(iv)     A complete liquidation or dissolution of the Company or the sale or other disposition of all or substantially all of the assets of the Company.

 

	
  

	
(v)     For purposes of this Agreement, “Group” means any individual, entity or group within the meaning of Section 13(d)(3) or 14(d)(2) of the Act; “Beneficial Ownership” has the meaning in Rule 13d-3 promulgated under the Act; “Stock” means the then outstanding shares of common stock of the Company; and “Voting Power” means the combined voting power of the outstanding voting securities entitled to vote generally in the election of directors.

 

	
  

	
(vi)     Notwithstanding anything in this paragraph (d) to the contrary, a “Change in Control” shall not have occurred under this Agreement unless the event also meets the requirements of a “change in the ownership or effective control of a corporation, or a change in the ownership of a substantial portion of assets of a corporation” under Treasury Regulation 1.409A-3(i)(5).

 

                                          (e)     Severance Payments.   If the Employee terminates his employment within two years after a Change of Control pursuant to Section 7(d), or if the Company terminates the Employee’s employment for any reason other than Cause (as defined in Section 7(a)) either within three months before or within two years after a Change of Control, the Employee shall be entitled to a severance payment under this Section 7(e) in an amount

 

  

  

  

equal to 2.99 times the sum of (i) the Employee’s annual base salary in effect at the termination of employment or, if greater, the Employee’s largest annual base salary rate in effect during the Term of this Agreement, plus (ii) an amount equal to 90% of the base salary determined in Section 7(e)(i) of this Agreement. Subject to payment timing requirements of subsection (f) below which may cause a delay in the payments to the Employee, this severance payment shall be made to the Employee in a single lump sum within 10 business days of the date of the Employee’s termination of employment. Notwithstanding the preceding sentence, the Employee may elect, in the Employee’s sole discretion, to waive the Employee’s right to receive, and release the Company from payment of, any amounts otherwise payable to Employee hereunder, in order to avoid application of the excise tax provisions of Code Section 4999 (as well as any successor or similar sections thereof), if the total net after-tax amount payable to Employee hereunder after such waiver and release would exceed the total net after-tax amount payable to Employee after application of said excise tax.

 

                                          (f)     Payment Timing.    The parties anticipate that the Employee will be a “specified employee” as defined in Section 409A of the Code at a termination. The determination of whether the Employee is a specified employee shall be determined under the policy established by the Company. In the event that the Employee is a specified employee at the termination and the termination is described in clause (b), (c) or (e), any amount due or payable other than on account of death or disability under paragraphs (b), (c) or (e) within the six months after the termination shall be paid in a lump sum payment on the first business day that is more than six months after the termination.

 

         (g)     Separation from Service.   Notwithstanding anything in this Agreement to the contrary, the Employee’s employment shall be deemed to have terminated if, and only if, such termination constitutes a “separation from service” within the meaning of Section 409A of the Code.

 

         (h)           Treatment of Outstanding Equity Awards Upon a Change of Control.

 

         (i)           Notwithstanding the terms of the Agreement or the terms of any award agreement between the Employee and the Company regarding any stock option, restricted stock unit or other type of equity- or equity-based award that is outstanding as of the Amended and Restated Effective Date (an “Outstanding Equity Award”) to the contrary, the vesting of any then unvested Outstanding Equity Award shall be accelerated in connection with a Change of Control (or other similar term, in each case as defined in the applicable award agreement) only if both the Change of Control actually occurs and, on or at any time following the date of the Change of Control, either (1) the Employee’s employment with the Company or any successor of the Company or parent or other affiliate thereof is involuntarily terminated by the Company (or any such successor or parent or affiliate) without Cause (as defined in the applicable award agreement, or if not defined therein, as defined in the Agreement) or (2) the Employee voluntarily terminates his employment with the Company (or any such successor or parent or affiliate) for Good Reason (as defined in the applicable award agreement, or if not defined therein, as defined below); provided, however, that if the Employee’s employment with the Company terminates prior to the date of a Change of Control as a result of either the involuntary termination of the Employee’s employment by the Company without Cause or the Employee’s voluntary termination of his employment for Good Reason, and in either case such termination of employment occurs on or after the date of execution of a definitive agreement that, if consummated, would result in the occurrence of a Change of Control, then the Employee shall, as of the date of such termination of employment, conditionally vest (subject to consummation of the Change of Control) in any Outstanding Equity Award that is then unvested and does not otherwise vest by its terms in connection with such termination of employment.

 

         (ii)           For purposes of Section 7(h)(i) above, the term “Good Reason” means a change in circumstances described in (1), (2), (3), (4) or (5):

 

	
(1)  

	
The Employee’s base salary is reduced,

 

	
(2)  

	
The Employee is not in good faith considered for a bonus as described in Section 3(b) of the Agreement;

 

	
(3)  

	
The Employee is not in good faith considered for other executive compensation benefits as described in Section 3(c) of the Agreement;

 

  

  

  

	
(4)  

	
The Employee’s place of employment is relocated to a location further than 50 miles from Employee’s current place of employment, or

 

	
(5)  

	
The Employee’s working conditions or management responsibilities are substantially diminished (other than on account of the Employee’s disability, as defined in Section 7(c) of the Agreement);

 

provided, however, that if the Employee consents in writing to a change in circumstance, “Good Reason” as defined above, will not include the change in circumstance to which the Employee has consented.

                        (iii)           Employee agrees and acknowledges that this Section 7(h) amends the terms of any agreement between the Company and the Employee regarding any Outstanding Executive Award, to the extent inconsistent herewith, and any such agreement shall be interpreted for all intents and purposes so as to achieve the objective of this Section 7(h), which is to provide for only “double trigger” vesting of outstanding equity- or equity-based awards in connection with a Change of Control. Notwithstanding anything herein to the contrary, this Section 7(h) shall not alter the time or form of any payment under any Outstanding Equity Award that is subject to Section 409A of the Internal Revenue Code of 1986, as amended.

 

                 8.   Vacation.    During the Term, the Employee shall be entitled to a vacation in each calendar year in accordance with the Company’s policy; during this vacation, his compensation shall be paid in full.

 

                 9.   Insurance.    In accordance with Section 3(d), while he is employed by the Company, the Employee and his eligible dependents as insureds shall be eligible to be covered under existing insurance policies on the same terms and conditions as offered to all full-time salaried employees. In accordance with Company policy, coverage under the Company’s insurance policies terminates on the date that employment terminates. If the Company terminates the Employee’s employment during the Term of this Agreement for any reason except Cause, or if the Employee terminates his employment within two years following a Change of Control as contemplated by Section 7(d), the Company shall reimburse the Employee for the required COBRA premiums, to the extent the Company subsidizes the group medical plan premium for active salaried employees, for a period not to exceed 18 months so long as the Employee is not eligible for coverage under any other group medical plan. If the Employee becomes eligible for coverage under another group medical plan, the Company shall cease reimbursement for COBRA premiums on the date the Employee first becomes eligible for coverage under the other plan. The Company’s reimbursement for COBRA premiums shall include a separate reimbursement amount for the Employee’s tax liability on the COBRA premiums at the Employee’s incremental tax rate (the “Gross-up Amount”). The Gross-up Amount shall be paid by the Company to the Employee by March 15 of the calendar year following the calendar year for which such COBRA premiums are applied. Notwithstanding the foregoing, the Gross-up Amount due or payable within six months after termination of employment shall be paid in a lump sum payment on the first business day that is more than six months after the termination. Nothing in this Section 9 shall be interpreted to prohibit the Company from changing or terminating any benefit package or program at any time and from time to time so long as the benefits hereunder, considered in the aggregate, are comparable at any given time to the benefits provided to similarly situated employees of the Company at that time.

 

                  10.   Notice.    All notices, requests, demands and other communications hereunder shall be in writing and shall be effective upon the mailing thereof by registered or certified mail, postage prepaid, and addressed as set forth below:

 

  

  

  

	
a.  

	
If to the Company:

 

Mr. Jonathan Wolk

Senior Vice President and Chief Financial Officer

American Woodmark Corporation

3102 Shawnee Drive

Winchester, VA 22601

 

	
b.  

	
If to the Employee:

 

Mr. Kent Guichard

104 Katie Lane

Winchester, VA 22601

 

Any party may change the address to which notices are to be sent by giving the other party written notice in the manner herein set forth.

 

                 11.   Waiver of Breach.    Waiver by either party of a breach of any provision of this Agreement by the other shall not operate as a waiver of any subsequent breach by such other party.

 

                 12.   Entire Agreement.    This Agreement contains the entire agreement of the parties in this matter and supersedes any other agreement, oral or written, concerning the employment or compensation of the Employee by the Company. It may be changed only by an agreement in writing signed by both parties hereto.

 

                 13.   409A Compliance.   The parties intend that this Agreement be administered in compliance with Section 409A of the Code and the regulations thereunder.

 

                 14.   Governing Law.   This Agreement shall be governed by the laws of the Commonwealth of Virginia, without regard to its choice of law provisions.

 

                 15.   Benefit.   This Agreement shall inure to the benefit of, and shall be binding upon, and shall be enforceable by and against the Company, its successors and assigns, and the Employee, his heirs, beneficiaries and legal representatives.

 

                  16.   Invalid Provisions.   It is not the intention of either party to this Agreement to violate any public policy, or any statutory or common law. If any sentence, paragraph, clause or combination of the same in this Agreement is in violation of the law of any State where applicable, such sentence, paragraph, clause or combination of the same shall be void in the jurisdictions where it is unlawful, and the remainder of the Agreement shall remain binding on the Parties. However, the Parties agree, and it is their desire that a court should substitute for each such illegal, invalid or unenforceable covenant a reasonable and judicially-enforceable limitation in its place, and that as so modified the covenant shall be as fully enforceable as if set forth herein by the Parties themselves in the modified form.

 

 

[SIGNATURE PAGE FOLLOWS]                

 

  

  

  

 

IN WITNESS WHEREOF, the Employee and the Company have executed this Agreement as of the Amended and Restated Effective Date.

 

 

 

 

AMERICAN WOODMARK CORPORATION

 

	
By:

	
/s/ Jonathan Wolk

	  	
Mr. Jonathan Wolk

	  	
Senior Vice President and Chief Financial Officer

 

 

 

EMPLOYEE:

 

	
By:

	
/s/ Kent Guichard

	  	
Mr. Kent Guichard

	  	
Chairman and Chief Executive Officer

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00218-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00218-of-00352.parquet"}]]