Document:

exv10w1

	 	 	 	 	 

Exhibit 10.1

EXECUTION COPY

AMENDMENT NO. 2

Dated as of June 30, 2010

to

CREDIT AGREEMENT

Dated as of March 28, 2008

          THIS AMENDMENT NO. 2 (this “Amendment”) is made as of June 30, 2010 by and among
Hillenbrand, Inc. (formerly named Batesville Holdings, Inc.) (the “Borrower”), the
financial institutions listed on the signature pages hereof (collectively, the “Lenders”),
Citibank, N.A. (“Citibank”) in its capacity as resigning agent (the “Resigning
Agent”), and JPMorgan Chase Bank, N.A. (“JPMorgan”) in its capacity as successor agent
for the Lenders (the “Successor Agent”), under that certain Credit Agreement dated as of
March 28, 2008 by and among the Borrower, the Lenders and Citibank, as amended by Letter Agreement
No. 1, dated as of December 16, 2009 (as may be further amended, supplemented or otherwise modified
from time to time, the “Credit Agreement”). Capitalized terms used herein and not
otherwise defined herein shall have the respective meanings given to them in the Credit Agreement.

          WHEREAS, the Borrower, the Required Lenders, the Resigning Agent and the Successor Agent have
agreed to make certain amendments to the Credit Agreement;

          WHEREAS, the parties hereto have agreed to such amendments, including the appointment of a
successor Agent, on the terms and conditions set forth herein;

          NOW, THEREFORE, in consideration of the premises set forth above, the terms and conditions
contained herein, and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereto have agreed to enter into this Amendment.

          1. Resignation of Agent and Appointment of Successor Agent. Citibank resigns as
Agent, JPMorgan agrees to be successor Agent and is appointed as successor Agent by the Required
Lenders, and JPMorgan shall be the Agent for all purposes under the Loan Documents, all effective
as of the date of satisfaction of the conditions precedent set forth in Section 3 below
(the “Effective Date”).

          2. Amendments to Credit Agreement. Effective as of the Effective Date, the Credit
Agreement is amended as follows:

          (a) Section 1.01 of the Credit Agreement is amended to add the following definitions thereto
and, where applicable, to replace the corresponding previously existing definitions:

     “Agent’s Account” means such account of the Agent as is designated in
writing from time to time by the Agent to the Borrower and the Lenders for such
purpose.

 

 

     “Base Rate” means, for any day, a rate per annum equal to the greatest
of (a) the Prime Rate in effect on such day, (b) the Federal Funds Rate in effect on
such day plus 1/2 of 1% and (c) the Eurodollar Rate (as adjusted pursuant to Section
2.11(a)) for a one month Interest Period on such day (or if such day is not a
Business Day, the immediately preceding Business Day) plus 1%, provided
that, for the avoidance of doubt, the Eurodollar Rate for any day shall be based on
the rate appearing on Reuters LIBOR01 Page (and any successor page) at approximately
11:00 a.m. London time on such day. Any change in the Base Rate due to a change in
the Prime Rate, the Federal Funds Rate or the Eurodollar Rate shall be effective
from and including the effective date of such change in the Prime Rate, the Federal
Funds Rate or the Eurodollar Rate, respectively.

     “Defaulting Lender” means any Lender, as determined by the Agent, that
has (a) failed to fund any portion of its Advances or participations in Letters of
Credit within three (3) Business Days of the date required to be funded by it
hereunder, (b) notified the Borrower, the Agent, any Issuing Bank or any Lender in
writing that it does not intend to comply with any of its funding obligations under
this Agreement or has made a public statement to the effect that it does not intend
to comply with its funding obligations under this Agreement or under other
agreements in which it commits to extend credit, (c) failed, within three (3)
Business Days after request by the Agent, to confirm that it will comply with the
terms of this Agreement relating to its obligations to fund prospective Advances and
participations in then outstanding Letters of Credit, (d) otherwise failed to pay
over to the Agent or any other Lender any other amount required to be paid by it
hereunder within three (3) Business Days of the date when due, unless the subject of
a good faith dispute, or (e) (i) become or is insolvent or has a parent company that
has become or is insolvent or (ii) become the subject of a bankruptcy or insolvency
proceeding, or has had a receiver, conservator, trustee, administrator, assignee for
the benefit of creditors or similar Person charged with reorganization or
liquidation of its business or custodian, appointed for it, or has taken any action
in furtherance of, or indicating its consent to, approval of or acquiescence in any
such proceeding or appointment or has a parent company that has become the subject
of a bankruptcy or insolvency proceeding, or has had a receiver, conservator,
trustee, administrator, assignee for the benefit of creditors or similar Person
charged with reorganization or liquidation of its business or custodian appointed
for it, or has taken any action in furtherance of, or indicating its consent to,
approval of or acquiescence in any such proceeding or appointment.

     “Fee Letters” means the fee letter among the Borrower, JPMorgan Chase
Bank, N.A. and J.P. Morgan Securities Inc. dated June 25, 2010.

     “L/C Exposure” means, at any time, the sum of (a) the aggregate
Available Amount of all outstanding Letters of Credit at such time plus (b) the
aggregate principal amount of all Advances made by each Issuing Bank pursuant to
Section 2.03(c) that have not been reimbursed by or on behalf of the Borrower at
such time. The L/C Exposure of any Lender at any time shall be its Ratable Share of
the total L/C Exposure at such time.

     “Prime Rate” means the rate of interest per annum publicly announced
from time to time by JPMorgan Chase Bank, N.A. as its prime rate in effect at its
principal office in New York City; each change in the Prime Rate shall be effective
from and including the date such change is publicly announced as being effective.

     “Reference Bank” means JPMorgan Chase Bank, N.A. and Bank of America,
N.A.

2

 

     “Specified Indebtedness” means Indebtedness issued by the Borrower or
any Subsidiary pursuant to (i) an offering of debt securities in the capital markets
registered under the Securities Act of 1933, as amended, or exempt therefrom in
reliance upon Rule 144A thereunder or (ii) a private placement of debt securities by
the Borrower or such Subsidiary directly to institutional investors.

          (b) Section 1.03 of the Credit Agreement is amended to add the following sentence to the end
thereof:

     “Notwithstanding any other provision contained herein, all terms of an
accounting or financial nature used herein shall be construed, and all computations
of amounts and ratios referred to herein shall be made, without giving effect to any
election under Accounting Standards Codification 825-10-25 (previously referred to
as Statement of Financial Accounting Standards 159) (or any other Accounting
Standards Codification or Financial Accounting Standard having a similar result or
effect) to value any Indebtedness or other liabilities of the Borrower or any of its
Subsidiaries at “fair value”, as defined therein.”

          (c) Article II of the Credit Agreement is amended to add the following as a new Section 2.20
thereof:

     “SECTION 2.20. Defaulting Lenders. Notwithstanding any provision of
this Agreement to the contrary, if any Lender becomes a Defaulting Lender, then the
following provisions shall apply for so long as such Lender is a Defaulting Lender:

     (a) if any L/C Exposure exists at the time a Lender is a Defaulting
Lender, the Borrower shall within three (3) Business Days following
notice by the Agent cash collateralize such Defaulting Lender’s L/C Exposure in
accordance with the procedures set forth in Section 6.02 for so long as such L/C
Exposure is outstanding; and

     (b) no Issuing Bank shall be required to issue, amend or increase any Letter of
Credit unless it is satisfied that cash collateral will be provided by the Borrower
in accordance with Section 2.20(a).”

          (d) Section 5.01 (e) of the Credit Agreement is amended to add the word “not” immediately
prior to the phrase “reasonably be expected to have a Material Adverse Effect” appearing in the
clause (iii) thereof.

          (e) Section 5.02(h)(i) of the Credit Agreement is amended to insert the words “or licenses”
after the word “leases” in clause (A)(x) thereof.

          (f) Section 5.02(h)(i)(C) of the Credit Agreement is amended to (i) insert the word “such” in
front of the words “negative pledge” and (ii) insert the following at the end of clause (C)
thereof:

     “or (z) incurred or provided in favor of any holder of Specified Indebtedness
permitted under Section 5.02(c)(vi) or 5.02(c)(x), and

provided, further that this subsection (i) shall not apply to:

(1) any restriction or conditions contained in any Contractual Obligation of
any Subsidiary if such Contractual Obligation relates to Liens existing on
property at

3

 

the time of acquisition thereof by the Borrower or any
Subsidiary and not created in contemplation thereof;

(2) any restriction or conditions contained in any Contractual Obligation of
any Subsidiary if such Contractual Obligation relates to Liens existing on
property of a Subsidiary at the time such Subsidiary is merged or
consolidated with or into, or acquired by, the Borrower or any Subsidiary or
becomes a Subsidiary and not created in contemplation thereof;

(3) any restriction or conditions contained in any Contractual Obligation
relating to or governing any equity interests, securities or Indebtedness of
a Subsidiary existing at the time such Subsidiary is merged or consolidated
with or into, or acquired by, the Borrower or any Subsidiary or becomes a
Subsidiary and not entered into in contemplation thereof;

(4) customary provisions limiting assignments of agreements in the ordinary
course of business;

(5) customary restrictions on cash or other deposits (including escrowed
funds) received by Borrower or any Subsidiary in the ordinary course of
business; or

(6) customary provisions in joint venture agreements and other similar
agreements concerning joint ventures and applicable solely to such joint
venture;”

          (g) Section 5.02(h)(ii) of the Credit Agreement is further amended to restate the proviso set
forth therein in its entirety as follows:

          “; provided that this subsection (ii) shall not prohibit (x) the grant of Liens
otherwise permitted under Section 5.02(a) and (y) any such requirement to grant a Lien in
favor of any holder of Specified Indebtedness permitted under Section 5.02(c)(vi) or
5.02(c)(x).”

          (h) Section 8.01 of the Credit Agreement is amended to delete the name “Citibank, N.A.”
appearing therein and to replace such name with the name “JPMorgan Chase Bank, N.A.”.

          (i) Section 9.02 of the Credit Agreement is amended to (i) delete the phrase “Two Penns Way,
New Castle, 19720, Attention: Bank Loan Syndications Department” appearing in clause (a) thereof
and to replace such phrase with the phrase “10 South Dearborn, Chicago, Illinois 60603, Attention
Hiral Patel, Loan and Agency Services” and (ii) delete the first sentence of clause (b) thereof in
its entirety.

          (j) Schedule I to the Credit Agreement is deleted in its entirety and replaced with Schedule I
attached hereto.

          3. Conditions of Effectiveness. The effectiveness of this Amendment is subject to the
conditions precedent that (i) JPMorgan shall have received (a) counterparts of this Amendment duly
executed by the Borrower, the Required Lenders, the Resigning Agent and the Successor Agent and the
Consent and Reaffirmation attached hereto duly executed by the Guarantors and (b) such other
instruments and documents as are reasonably requested by the Successor Agent and (ii) the Borrower
shall have paid, to the extent invoiced, not less than one (1) Business Day prior to the date
hereof, all reasonable and documented out-of-pocket expenses of the Resigning Agent and the
Successor Agent

4

 

(including attorneys’ fees and expenses) in connection with this Amendment.

          4. Indemnification. For the avoidance of doubt, the provisions of Sections 9.04(a),
(b), (d) and (e) and Article VIII of the Credit Agreement shall (i) inure to the Successor Agent’s
benefit and (ii) continue to inure to the Resigning Agent’s benefit as to any actions taken or
omitted to be taken by it while it was Agent under the Credit Agreement and the provisions of
Section 9.04(e) of the Credit Agreement shall continue inure to Citibank’s benefit as to any
actions taken or omitted to be taken by it as an Issuing Bank under the Credit Agreement.

          5. Representations and Warranties of the Borrower. The Borrower represents and
warrants that (a) the representations and warranties contained in Section 4.01 of the Credit
Agreement are correct with the same effect as though made on and as of the date hereof except (i)
to the extent that such representations and warranties specifically refer to an earlier date, such
representations and warranties are true and correct as of such earlier date and (ii) the
representations and warranties contained in subsections (i) and (ii) of Section 4.01(d) of the
Credit Agreement shall be deemed to refer to the most recent financial statements furnished
pursuant to subsections (i) and (ii), respectively, of Section 5.01(a) of the Credit Agreement,
before and after giving effect to this Amendment, and (b) no Default has occurred and is
continuing.

          6. Reference to and Effect on the Credit Agreement.

          (a) Upon the effectiveness hereof, (i) each reference to the Credit Agreement in the Credit
Agreement or any other Loan Document shall mean and be a reference to the Credit Agreement as
amended hereby and (ii) each reference to “Agent” in the Credit Agreement or any other Loan
Document shall mean and be a reference to JPMorgan in its capacity as successor Agent for the
Lenders.

          (b) Except as specifically amended above, the Credit Agreement and all other documents,
instruments and agreements executed and/or delivered in connection therewith shall remain in full
force and effect and are hereby ratified and confirmed.

          (c) The execution, delivery and effectiveness of this Amendment shall not operate as a waiver
of any right, power or remedy of the Agent or the Lenders, nor constitute a waiver of any provision
of the Credit Agreement or any other documents, instruments and agreements executed and/or
delivered in connection therewith.

          7. Governing Law. This Amendment shall be construed in accordance with and governed
by the law of the State of New York.

          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 purpose.

          9. Counterparts. This Amendment may be executed by one or more of the parties hereto
on any number of separate counterparts, and all of said counterparts taken together shall be deemed
to constitute one and the same instrument. Signatures delivered by facsimile or PDF shall have the
same force and effect as manual signatures delivered in person.

[Signature Pages Follow]

5

 

          IN WITNESS WHEREOF, this Amendment has been duly executed as of the day and year first above
written.

	 	 	 	 	 
	 	HILLENBRAND, INC.,

as the Borrower

 	 
	 	By:  	/s/ Mark R. Lanning
 	 
	 	 	Name:  	Mark R. Lanning 	 
	 	 	Title:  	Vice President Investor Relations and Treasurer 	 
	 

Signature Page to Amendment No. 2

Hillenbrand, Inc.

Credit Agreement dated as of March 28, 2008

 

 

	 	 	 	 	 
	 	CITIBANK, N.A.,

as Resigning Agent

 	 
	 	By:  	/s/ Blake Gronich	 
	 	 	Name:  	Blake Gronich 	 
	 	 	Title:  	Vice President 	 
	 

Signature Page to Amendment No. 2

Hillenbrand, Inc.

Credit Agreement dated as of March 28, 2008

 

 

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A.,

as Successor Agent

 	 
	 	By:  	/s/ Dana J. Moran 	 
	 	 	Name:  	Dana J. Moran	 
	 	 	Title:  	Vice President	 
	 
	 	JPMORGAN CHASE BANK, N.A.,

as a Lender

 	 
	 	By:  	/s/ Dana J. Moran	 
	 	 	Name:  	Dana J. Moran	 
	 	 	Title:  	Vice President	 
	 

Signature Page to Amendment No. 2

Hillenbrand, Inc.

Credit Agreement dated as of March 28, 2008

 

 

	 	 	 	 	 
	 	BANK OF AMERICA, N.A.,

as a Lender

 	 
	 	By:  	/s/ Chris Burns 	 
	 	 	Name:  	Chris Burns 	 
	 	 	Title:  	Vice President 	 
	 

Signature Page to Amendment No. 2

Hillenbrand, Inc.

Credit Agreement dated as of March 28, 2008

 

 

	 	 	 	 	 
	 	PNC BANK, NATIONAL ASSOCIATION,

as a Lender

 	 
	 	By:  	/s/ Jeffrey P. Fisher	 
	 	 	Name:  	Jeffrey P. Fisher	 
	 	 	Title:  	Assistant Vice President	 
	 

Signature Page to Amendment No. 2

Hillenbrand, Inc.

Credit Agreement dated as of March 28, 2008

 

 

	 	 	 	 	 
	 	FIFTH THIRD BANK,

as a Lender

 	 
	 	By:  	/s/
David O’Neal 	 
	 	 	Name:  	David O’Neal	 
	 	 	Title:  	Vice President	 
	 

Signature Page to Amendment No. 2

Hillenbrand, Inc.

Credit Agreement dated as of March 28, 2008

 

 

	 	 	 	 	 
	 	U.S. BANK NATIONAL ASSOCIATION,

as a Lender

 	 
	 	By:  	/s/ Michael P. Dickman	 
	 	 	Name:  	Michael P. Dickman	 
	 	 	Title:  	Vice President	 
	 

Signature Page to Amendment No. 2

Hillenbrand, Inc.

Credit Agreement dated as of March 28, 2008

 

 

	 	 	 	 	 
	 	REGIONS BANK,

as a Lender

 	 
	 	By:  	/s/ Eric Harvey 	 
	 	 	Name:  	Eric Harvey 	 
	 	 	Title:  	Vice President 	 
	 

Signature Page to Amendment No. 2

Hillenbrand, Inc.

Credit Agreement dated as of March 28, 2008

 

 

	 	 	 	 	 
	 	THE NORTHERN TRUST COMPANY,

as a Lender

 	 
	 	By:  	/s/
Phillip McCaulay 	 
	 	 	Name:  	Phillip McCaulay	 
	 	 	Title:  	Vice President	 
	 

Signature Page to Amendment No. 2

Hillenbrand, Inc.

Credit Agreement dated as of March 28, 2008

 

 

	 	 	 	 	 
	 	WILLIAM STREET LLC,

as a Lender

 	 
	 	By:  	/s/ Mark Walton	 
	 	 	Name:  	Mark Walton	 
	 	 	Title:  	Authorized Signatory	 
	 

Signature Page to Amendment No. 2

Hillenbrand, Inc.

Credit Agreement dated as of March 28, 2008

 

 

	 	 	 	 	 
	 	RBS CITIZENS, N.A.,

as a Lender

 	 
	 	By:  	/s/
André A. Nazareth 	 
	 	 	Name:  	André A. Nazareth 	 
	 	 	Title:  	Senior Vice President	 
	 

Signature Page to Amendment No. 2

Hillenbrand, Inc.

Credit Agreement dated as of March 28, 2008

 

 

CONSENT AND REAFFIRMATION

          The undersigned hereby acknowledges receipt of a copy of the foregoing Amendment No. 2 to the
Credit Agreement dated as of March 28, 2008 (the “Credit Agreement”) by and among
Batesville Holdings, Inc. (predecessor to Hillenbrand, Inc.) (the “Borrower”), the
financial institutions from time to time party thereto (the “Lenders”) and Citibank, N.A.
(predecessor to JPMorgan Chase Bank, N.A.), as Agent (the “Agent”), which Amendment No. 2
is dated as of June 30, 2010 (the “Amendment”). Capitalized terms used in this Consent and
Reaffirmation and not defined herein shall have the meanings given to them in the Credit Agreement.
Without in any way establishing a course of dealing by the Agent or any Lender, each of the
undersigned consents to the Amendment and reaffirms the terms and conditions of the Credit
Agreement (including, but not limited to, the Guaranty) and any other Loan Document executed by it
and acknowledges and agrees that such agreements and each and every such Loan Document executed by
the undersigned in connection with the Credit Agreement remains in full force and effect and is
hereby reaffirmed, ratified and confirmed. All references to the Credit Agreement contained in the
above-referenced documents shall be a reference to the Credit Agreement as so modified by the
Amendment.

Dated: June 30, 2010

[Signature Page Follows]

 

 

	 	 	 	 	 
	 	BATESVILLE SERVICES, INC., as Guarantor

 	 
	 	By:  	/s/ Mark R. Lanning
 	 
	 	 	Name:  	Mark R. Lanning 	 
	 	 	Title:  	Vice President and Treasurer 	 
	 
	 	K-TRON INTERNATIONAL, INC., as Guarantor

 	 
	 	By:  	/s/ Mark R. Lanning
 	 
	 	 	Name:  	Mark R. Lanning 	 
	 	 	Title:  	Assistant Treasurer 	 
	 
	 	K-TRON INVESTMENT CO., as Guarantor

 	 
	 	By:  	/s/ Mark R. Lanning
 	 
	 	 	Name:  	Mark R. Lanning 	 
	 	 	Title:  	Assistant Treasurer 	 
	 
	 	PENNSYLVANIA CRUSHER CORPORATION, as Guarantor

 	 
	 	By:  	/s/ Mark R. Lanning
 	 
	 	 	Name:  	Mark R. Lanning 	 
	 	 	Title:  	Assistant Treasurer 	 
	 

Signature Page to Consent and Reaffirmation to Amendment No. 2

Hillenbrand, Inc.

Credit Agreement dated as of March 28, 2008

 

 

SCHEDULE I

HILLENBRAND, INC.

FIVE YEAR CREDIT AGREEMENT

APPLICABLE LENDING OFFICES

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Revolving	 	Letter of	 	 	 	 
	Name of Initial	 	Credit	 	Credit	 	 	 	Eurodollar Lending
	Lender	 	Commitment	 	Commitment	 	Domestic Lending Office	 	Office
	JPMorgan

Chase Bank, 

N.A.

	 	$	67,500,000	 	 	$	30,000,000	 	 	10 South Dearborn St.

Chicago, IL 60603

Attn: Hiral Patel 

T: 312-732-6221

F: 312-385-7096
	 	10 South Dearborn St. 

Chicago, IL 60603

Attn: Hiral Patel 

T: 312-732-6221

F: 312-385-7096
	RBS Citizens,
 N.A.

	 	$	67,500,000	 	 	 	 	 	 	27777 Franklin Road

MH1970

Southfield, MI 48034

T: 248-226-7724

F: 248-228-9402
	 	27777 Franklin Road

MH1970

Southfield, MI 48034

T: 248-226-7724

F: 248-228-9402
	Bank of 
America,
N.A.

	 	$	45,000,000	 	 	$	10,000,000	 	 	101 N. Tryon Street,
4th 
Floor
Charlotte, NC 28255

Attn: Manpreet Kaur 

T: 415-436-4777

ext. 8544

F: 214-290-9446
	 	101 N. Tryon Street,
4th 
Floor
Charlotte, NC 28255

Attn: Manpreet Kaur 

T: 415-436-4777

ext. 8544

F: 214-290-9446
	PNC Bank,
 National 

Association

	 	$	45,000,000	 	 	$	10,000,000	 	 	201 East Fifth Street

Cincinnati, OH 45202

Attn: Marc Accamando

T: 412-768-6214

F: 412-768-4586
	 	201 East Fifth Street

Cincinnati, OH 45202

Attn: Marc Accamando

T: 412-768-6214

F: 412-768-4586
	Fifth Third 
Bank

	 	$	45,000,000	 	 	 	 	 	 	38 Fountain Square Plaza

Cincinnati, OH 45263

Attn: Joyce Elam

T: 513-358-7336

F: 513-358-3479
	 	38 Fountain Square Plaza

Cincinnati, OH 45263

Attn: Joyce Elam

T: 513-358-7336

F: 513-358-3479
	U.S. Bank 
National 

Association

	 	$	45,000,000	 	 	 	 	 	 	One U.S. Bank Plaza 

SL-MO-T12M 

St. Louis, MO 63101

Attn: Barbara Campbell 

T: 920-237-7370

F: 920-237-7993
	 	One U.S. Bank Plaza 

SL-MO-T12M 

St. Louis, MO 63101

Attn: Barbara Campbell 

T: 920-237-7370

F: 920-237-7993
	Regions Bank

	 	$	35,000,000	 	 	 	 	 	 	417 North 20th Street

Birmingham, AL 35203

Attn: Ashley Lewis

T: 205-420-5574

F: 205-801-5250
	 	417 North 20th Street

Birmingham, AL 35203

Attn: Ashley Lewis

T: 205-420-5574

F: 205-801-5250
	The Northern 
Trust 

Company

	 	$	25,000,000	 	 	 	 	 	 	50 S. LaSalle Street 

Chicago, IL 60675

Attn: Ms. Sharon Jackson 

T: 312-630-1609

F: 312-630-1566
	 	50 S. LaSalle Street 

Chicago, IL 60675

Attn: Ms. Sharon Jackson 

T: 312-630-1609

F: 312-630-1566

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Revolving	 	Letter of	 	 	 	 
	Name of Initial	 	Credit	 	Credit	 	 	 	Eurodollar Lending
	Lender	 	Commitment	 	Commitment	 	Domestic Lending Office	 	Office
	William Street 
LLC

	 	$	25,000,000	 	 	 	 	 	 	1 New York Plaza,

40th Floor

New York, NY 10004

Attn: Pedro Ramirez

T: 917-343-8319

F: 212-428-1243
	 	1 New York Plaza,

40th Floor

New York, NY 10004

Attn: Pedro Ramirez

T: 917-343-8319

F: 212-428-1243
	Total:

	 	$	400,000,000	 	 	$	50,000,000exv10w2

Exhibit 10.2

EXECUTION COPY

LETTER AMENDMENT NO. 1

Dated as of December 16, 2009

			
	To	 	the banks, financial
institutions
 and other
institutional lenders

(collectively, the “Lenders”)
parties
 to the Credit Agreement
referred to
 below and to Citibank,
N.A., as
 agent (the “Agent”)
for the Lenders

Ladies and Gentlemen:

          We refer to the Credit Agreement dated as of March 28, 2009 (the “Credit
Agreement”) among the undersigned and you. Capitalized terms not otherwise defined in this
Letter Amendment have the same meanings as specified in the Credit Agreement.

          It is hereby agreed by you and us as follows:

          (a) Section 5.01(k)(A) is amended in full to read as follows:

     (A) within 10 days after such formation or acquisition (which in the case of an
acquisition utilizing a tender offer made in connection with a merger agreement, shall be
deemed to have occurred when the merger is consummated), cause each such Subsidiary, and
cause each direct and indirect parent (other than the Borrower) of such Subsidiary (if it
has not already done so), to duly execute and deliver to the Agent a guaranty or guaranty
supplement, in form and substance satisfactory to the Agent, guaranteeing the Guaranteed
Obligations, and

          (b) Section 5.02(d) of the Credit Agreement is, effective as of the date of this Letter
Amendment, hereby amended by:

     (i) deleting the proviso in clause (i) thereof in full; and

     (ii) restating clause (B) of the proviso in clause (iii) thereof in full to read “if
any Material Subsidiary is a party to such merger, the continuing or surviving Person shall
be a Subsidiary of the Borrower, unless in accordance with Section 9.01 the Lenders shall
have agreed to terminate and release the Guaranty of such Material Subsidiary effective as
of the consummation of such merger.

          (c) Section 5.02(f) is amended in full to read as follows:

     (f) Change in Nature of Business. Enter, or permit any Subsidiary to enter,
into any business, if after giving effect thereto, the business of the Borrower and its
Subsidiaries, taken as a whole, would be substantially different from the business in

 

which the Borrower and its Subsidiaries, taken as a whole, are presently engaged,
provided, however, that the foregoing shall not preclude entry into or
acquisition of any business for the manufacturing or distribution of goods (including
without limitation machinery and equipment) where it is reasonable for the Borrower to
assume that the core competencies of the Borrower and its Subsidiaries developed in the
conduct of their existing business will add value to such new business.

          This Letter Amendment shall become effective as of the date first above written when, and
only when, the Agent shall have received counterparts of this Letter Amendment executed by the
undersigned and the Required Lenders. This Letter Amendment is subject to the provisions of
Section 9.01 of the Credit Agreement.

          The Borrower represents and warrants that (a) the representations and warranties contained in
Section 4.01 of the Credit Agreement are correct with the same effect as though made on and as of
the date hereof except (i) to the extent that such representations and warranties specifically
refer to an earlier date, such representations and warranties are true and correct as of such
earlier date and (ii) the representations and warranties contained in subsections (i) and (ii) of
Section 4.01(d) of the Credit Agreement shall be deemed to refer to the most recent financial
statements furnished pursuant to subsections (i) and (ii), respectively, of Section 5.01(a) of the
Credit Agreement, before and after giving effect to this Amendment, and (b) no Default has occurred
and is continuing.

          On and after the effectiveness of this Letter Amendment, each reference in the Credit
Agreement to “this Agreement”, “hereunder”, “hereof” or words of like import referring to the
Credit Agreement, and each reference in the Notes and each of the other Loan Documents to “the
Credit Agreement”, “thereunder”, “thereof” or words of like import referring to the Credit
Agreement, shall mean and be a reference to the Credit Agreement, as amended by this Letter
Amendment.

          The Credit Agreement, the Notes and each of the other Loan Documents, as specifically amended
by this Letter Amendment, are and shall continue to be in full force and effect and are hereby in
all respects ratified and confirmed. The execution, delivery and effectiveness of this Letter
Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power
or remedy of any Lender or the Agent under any of the Loan Documents, nor constitute a waiver of
any provision of any of the Loan Documents.

          If you agree to the terms and provisions hereof, please evidence such agreement by
executing and returning at least two counterparts of this Letter Amendment to Susan L. Hobart,
Shearman & Sterling LLP, 599 Lexington Avenue, New York, New York 10022.

          This Letter Amendment may be executed in any number of counterparts and by different parties
hereto in separate counterparts, each of which when so executed shall be deemed to be an original
and all of which taken together shall constitute one and the same agreement. Delivery of an
executed counterpart of a signature page to this Letter Amendment by electronic transmission shall
be effective as delivery of a manually executed counterpart of this Letter Amendment.

2

 

          This Letter Amendment shall be governed by, and construed in accordance with, the laws of
the State of New York.

	 	 	 	 	 
	 	Very truly yours,

HILLENBRAND, INC.

 	 
	 	By:  	/s/ Mark R. Lanning
 	 
	 	 	Name:  	Mark R. Lanning 	 
	 	 	Title:  	Vice President 	 
	 

	 	 	 	 	 

	Agreed as of the date first above written:	 	 
	 
	 	 	 	 
	CITIBANK, N.A.,

     as Agent and as Lender	 	 
	 
	 	 	 	 
	By

	 	/s/ Andrew Sidford
 

Title: Vice President
	 	 
	 
	 	 	 	 
	JPMORGAN CHASE BANK, N.A.	 	 
	 
	 	 	 	 
	By: 

Name:

	 	/s/ Dana J. Moran
 

Dana J. Moran
	 	 
	Title:

	 	Vice President	 	 
	 
	 	 	 	 
	BANK OF AMERICA, N.A.	 	 
	 
	 	 	 	 
	By: 

Name:

	 	/s/ W. Thomas Barnett
 

W. Thomas Barnett
	 	 
	Title:

	 	Senior Vice President	 	 
	 
	 	 	 	 
	FIFTH THIRD BANK	 	 
	 
	 	 	 	 
	By: 

Name:

	 	/s/ David O’Neal
 

David O’Neal
	 	 
	Title:

	 	Vice President	 	 

3

 

	 	 	 	 	 

	PNC BANK, NATIONAL ASSOCIATION	 	 
	 
	 	 	 	 
	By: 

Name:

	 	/s/ C. Joseph Richardson
 

C. Joseph Richardson
	 	 
	Title:

	 	Senior Vice President	 	 
	 
	 	 	 	 
	U.S. BANK, NATIONAL ASSOCIATION	 	 
	 
	 	 	 	 
	By: 

Name:

	 	/s/ Michael P. Dickman
 

Michael P. Dickman
	 	 
	Title:

	 	Vice President	 	 
	 
	 	 	 	 
	REGIONS BANK	 	 
	 
	 	 	 	 
	By: 

Name:

	 	/s/ Eric Harvey
 

Eric Harvey
	 	 
	Title:

	 	Vice President	 	 
	 
	 	 	 	 
	RBS CITIZENS, N.A.	 	 
	 
	 	 	 	 
	By: 

Name:

	 	/s/ André A. Nazareth
 

André A. Nazareth
	 	 
	Title:

	 	Senior Vice President	 	 
	 
	 	 	 	 
	THE NORTHERN TRUST COMPANY	 	 
	 
	 	 	 	 
	By: 

Name:

	 	/s/ Phillip McCaulay
 

Phillip McCaulay
	 	 
	Title:

	 	Vice President	 	 
	 
	 	 	 	 
	WILLIAM STREET LLC	 	 
	 
	 	 	 	 
	By: 

Name:

	 	/s/ Mark Walton
 

Mark Walton
	 	 
	Title:

	 	Authorized Signatory	 	 

4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00175-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00175-of-00352.parquet"}]]