Document:

Exhibit 10.2

 

EXECUTION VERSION

 

January 10, 2020

 

Hillenbrand, Inc.

One Batesville Boulevard

Batesville, IN 47006

 

Re:        Amendment No. 6 to Private Shelf
Agreement

 

Ladies and Gentlemen:

 

Reference is made to
the Private Shelf Agreement, dated as of December 6, 2012 (as amended by Amendment No. 1 dated as of December 15, 2014, Amendment
No. 2 dated as of December 19, 2014, Amendment No. 3 dated as of March 24, 2016, Amendment No. 4 dated as of December 8, 2017 and
Amendment No. 5 dated as of September 4, 2019, the “Note Agreement”), by and among Hillenbrand, Inc., an Indiana
corporation (the “Company”), PGIM, Inc. (f/k/a Prudential Investment Management, Inc.) (“Prudential”)
and each Prudential Affiliate (as therein defined) that has become or becomes bound thereby. Capitalized terms used herein that
are not otherwise defined herein shall have the meaning specified in the Note Agreement.

 

The Company has requested
that the Required Holders agree to amend the Note Agreement, as more particularly described below. Subject to the terms and conditions
hereof, the Required Holders are willing to agree to such request.

 

Accordingly, in accordance
with the provisions of Section 18.1 of the Note Agreement, and in consideration of the foregoing and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

SECTION 1.  Amendments
to the Note Agreement. Upon the occurrence of the Effective Date (as defined below), the Note Agreement shall be amended
as set forth below:

 

1.1           Section
5.5 of the Note Agreement is hereby amended by deleting the reference to “September 30” contained therein and inserting
 “the last day of the Company’s fiscal year” in lieu thereof.

 

1.2           Section
9.10 of the Note Agreement is hereby amended and restated in its entirety to read as follows:

 

     

     

    

 

Section
9.10.  Excess Leverage Fee.

 

(a)           Without
limiting the Company’s obligations under Section 10.9(a) hereof, if the Company’s Leverage Ratio is greater than 3.50
to 1.00 as of the last day of any fiscal quarter as reflected on the compliance certificate for such fiscal quarter (or, in the
case of the fourth fiscal quarter of a fiscal year, such fiscal year) required by Section 9.1(c), then, in addition to the interest
accruing on the Notes, the Company agrees to pay to each holder of a Note a fee (an “Ratio Leverage Fee”) computed
on the daily average outstanding principal amount of such Notes during the fiscal quarter immediately succeeding such fiscal quarter
(such succeeding fiscal quarter, an “Applicable Quarter”) at a rate of 0.75% per annum; provided that,
the rate at which the Ratio Leverage Fee is calculated shall be increased to 1.00% per annum for any fiscal quarter for which the
Company’s Leverage Ratio is greater than 4.00 to 1.00; provided, further, for the avoidance of doubt, no Ratio
Leverage Fee will accrue during any fiscal quarter to the extent the Company’s Leverage Ratio as of the last day of the immediately
preceding fiscal quarter is less than or equal to 3.50 to 1.00. The Ratio Leverage Fee with respect to each Note for any period
during which such fee accrues shall be calculated on the same basis as interest on such Note is calculated and shall be paid in
arrears within three Business Days after the last day of the Applicable Quarter. The payment and acceptance of any Ratio Leverage
Fee shall not constitute a waiver of any Default or Event of Default. If for any reason the Company fails to deliver the financial
statements required by Section 9.1(a) or 9.1(b) hereof or the related compliance certificate required by Section 9.1(c) hereof
for a succeeding fiscal quarter or fiscal year by the date such financial statements and compliance certificate are required to
be delivered, then the Company shall be deemed to have a Leverage Ratio as of the end of such fiscal quarter or fiscal year of
greater than 4.00 to 1.00 solely for the purposes of this Section 9.10.

 

(b)           Without
limiting the Company’s obligations under Section 9.9 hereof, in addition to the interest accruing on the Notes, the Company
agrees to pay to each holder of a Note a fee (a “Rating Fee”; the Rating Fee together with any Ratio Leverage
Fee are collectively referred to as the “Excess Leverage Fee”) computed on the daily average outstanding principal
amount of such Notes during each fiscal quarter during which the Company has a Below Investment Grade Rating from two or more nationally
recognized statistical rating agencies at the rate of 1.00% per annum; provided that, in no event shall a Ratio Leverage
Fee be payable during any period for which a Rating Fee is payable. The Rating Fee with respect to each Note for each fiscal quarter
for which such fee accrues shall be calculated on the same basis as interest on such Note is calculated and shall be paid in arrears
within three Business Days after the last day of each fiscal quarter during which the Company had a Below Investment Grade Rating
from two or more nationally recognized statistical rating agencies.

 

    2

     

    

 

1.3          Section
10.9(a) of the Note Agreement is hereby amended and restated in its entirety to read as follows, with retroactive effect as of
December 31, 2019:

 

(a)           Maximum
Leverage Ratio. The Company will not permit the ratio (the “Leverage Ratio”), determined as of the last
day of each of its fiscal quarters ending on and after December 31, 2019, of (i) (x) Consolidated Indebtedness minus
(y) the Liquidity Amount, in each case as of the last day of such fiscal quarter to (ii) Consolidated EBITDA for the period
of four (4) consecutive fiscal quarters ending with the last day of such fiscal quarter, all calculated for the Company and
its Subsidiaries on a consolidated basis, to be greater than (A) 4.50 to 1.00 for the fiscal quarters ending December 31, 2019
and March 31, 2020, (B) 4.25 to 1.00 for the fiscal quarter ending June 30, 2020, (C) 4.00 to 1.00 for the fiscal quarter ending
September 30, 2020, (D) 3.75 to 1.00 for the fiscal quarter ending December 31, 2020 and (E) 3.50 to 1.00 for the fiscal quarter
ending March 31, 2021 and each fiscal quarter ending thereafter; provided that the Company may, on or after January 1,
2021, by written notice to the holders of Notes (which notice may be in a compliance certificate delivered pursuant to Section
9.1(c) with respect to an applicable fiscal quarter) and not more than once during the term of this Agreement, elect to increase
the maximum Leverage Ratio to 4.00 to 1.00 for a period of three (3) consecutive fiscal quarters in connection with an acquisition
that involves the payment of consideration by the Company and/or its Subsidiaries in excess of $75,000,000 occurring during the
first of such three fiscal quarters. For purposes of calculations under this Section 10.9(a), Consolidated Indebtedness shall not
include 75% of the principal amount of any mandatorily convertible unsecured bonds, debentures, preferred stock or similar instruments
in a principal amount not to exceed $500,000,000 in the aggregate during the term of this Agreement which are payable in no more
than three years (whether by redemption, call option or otherwise) solely in common stock or other common equity interests.

 

For purposes
of calculations under this Section 10.9(a), prior to the consummation of the Bengal Acquisition (or during the period from the
Amendment No. 5 Effective Date until the date that is 90 days after the termination of the Bengal Acquisition Agreement), Consolidated
Indebtedness shall not include Specified Senior Notes Indebtedness; provided that (a) the release of the proceeds of the
Specified Senior Note Indebtedness to the Company and its Subsidiaries is contingent upon the consummation of the Bengal Acquisition
and, pending such release, such proceeds are held in escrow (and, if the Bengal Acquisition Agreement is terminated prior to the
consummation of the Bengal Acquisition or if the Bengal Acquisition is otherwise not consummated by the date specified in the Specified
Senior Notes Indenture, such proceeds shall be promptly applied to satisfy and discharge all obligations of the Company and its
Subsidiaries in respect of the Specified Senior Notes Indebtedness) or (b) the Specified Senior Notes Indenture contains a “special
mandatory redemption” provision (or other similar provision) or otherwise permits the Specified Senior Notes Indebtedness
to be redeemed or prepaid if the Bengal Acquisition is not consummated by the date specified in the Specified Senior Notes Indenture
(and if the Bengal Acquisition Agreement is terminated in accordance with its terms prior to the consummation of the Bengal Acquisition
or the Bengal Acquisition is otherwise not consummated by the date specified in the Specified Senior Notes Indenture, the Specified
Senior Notes Indebtedness is so redeemed or prepaid within 90 days of such termination or such specified date, as the case may
be).

 

    3

     

    

 

1.4           Schedule
B to the Note Agreement is hereby amended to delete the following definitions in their entirety:

 

“Acquisition”

 

“Leverage
Holiday Period”

 

“Significant
Acquisition”

 

“Significant
Acquisition Election”

 

SECTION
2.  Representations and Warranties. Each of the Company and each Guarantor represents and warrants that (a) the execution
and delivery of this letter has been duly authorized by all requisite corporate action on behalf of the Company and such Guarantor,
this letter has been duly executed and delivered by an authorized officer of the Company and such Guarantor, and the Company and
such Guarantor has obtained all authorizations, consents, and approvals necessary for the execution, delivery and performance
of this letter and such authorizations, consents and approvals are in full force and effect, (b) each representation and warranty
set forth in Section 5 of the Note Agreement (after giving effect to the amendments in Section 1) and the other Transaction Documents
is true and correct in all material respects as of the date of execution and delivery of this letter by the Company and such Guarantor
with the same effect as if made on such date (except to the extent such representations and warranties expressly refer to an earlier
date, in which case they were true and correct in all material respects as of such earlier date), (c) after giving effect
to the amendments in Section 1, no Event of Default or Default exists and (d) concurrently with the effectiveness of this
letter, each of the amendments to Section 6.10(a) contained in the Primary Credit Facility that are conditioned on amendments
to the Note Agreement and the “LG Facility” will be effective.

 

SECTION 3.  Conditions
to Effectiveness. The amendments described in Section 1 above shall become effective on the date (the “Effective
Date”) when each of the following conditions has been satisfied:

 

3.1          Documents.
Each holder of a Note shall have received original counterparts or, if reasonably satisfactory to the Required Holders, certified
or other copies of all of the following, each duly executed and delivered by the party or parties thereto, in form and substance
reasonably satisfactory to the Required Holders, dated the date hereof unless otherwise indicated, and on the date hereof in full
force and effect:

 

(i)            counterparts
of this letter executed by the Company, the Guarantors and the Required Holders; and

 

(ii)           an
Officer’s Certificate of the Company, in form and substance reasonably satisfactory to the Required Holders, attaching a
true and complete copy of (a) an amendment No. 3 to the Third Amended and Restated Credit Agreement, executed by the Company, the
subsidiary borrowers party thereto, JPMorgan Chase Bank, N.A., as administrative agent, and the financial institutions party thereto
as lenders and (b) the amendment to the “LG Facility Agreement” (as defined in the Company’s most recent filings
with the SEC).

 

    4

     

    

 

3.2          Amendment
Fee. The Company shall have paid an amendment fee to each holder of Notes equal to five basis points of the aggregate outstanding
principal amount of Notes held by each such holder as of the Effective Date, which payment shall be made in the same manner and
to the same accounts as for payments of interest pursuant to the Note Agreement.

 

3.3           Proceedings.
All corporate and other proceedings taken or to be taken in connection with the transactions contemplated by this letter shall
be reasonably satisfactory to Prudential, and Prudential shall have received all such counterpart originals or certified or other
copies of such documents as it may reasonably request.

 

SECTION 4.  Reference
to and Effect on Note Agreement and Notes; Ratification of Transaction Documents. Upon the effectiveness of the amendments
in Section 1 of this letter, each reference to the Note Agreement in any other Transaction Document shall mean and be a reference
to the Note Agreement, as modified by this letter. Except as specifically set forth in Section 1 hereof, the Note Agreement,
the Notes and each other Transaction Document shall remain in full force and effect and are hereby ratified and confirmed in all
respects. Except as specifically stated in this letter, the execution, delivery and effectiveness of this letter shall not (a)
amend the Note Agreement, any Note or any other Transaction Document, (b) operate as a waiver of any right, power or remedy of
Prudential or any holder of the Notes, or (c) constitute a waiver of, or consent to any departure from, any provision of the Note
Agreement, any Note or any other Transaction Document at any time. The execution, delivery and effectiveness of this letter shall
not be construed as a course of dealing or other implication that Prudential or any holder of the Notes has agreed to or is prepared
to grant any consents or agree to any amendment to the Note Agreement in the future, whether or not under similar circumstances.

 

SECTION
5.  Reaffirmation. Each Guarantor hereby consents to the foregoing amendments to the Note Agreement and hereby ratifies
and reaffirms all of its payment and performance obligations, contingent or otherwise, under the Guaranty Agreement and each other
Transaction Document, after giving effect to such amendments. Each Guarantor hereby acknowledges that, notwithstanding the foregoing
amendments, the Guaranty Agreement and each other Transaction Document remains in full force and effect and is hereby ratified
and confirmed. Without limiting the generality of the foregoing, each Guarantor agrees and confirms that the Guaranty Agreement
continues to guaranty the Guaranteed Obligations (as defined in the Guaranty Agreement) arising under or in connection with the
Note Agreement, as amended by this letter agreement, or any of the Notes.

 

SECTION 6.  Expenses.
 The Company hereby confirms its obligations under Section 16.1 of the Note Agreement in connection with the transactions
hereby contemplated, whether or not such transactions are consummated.

 

    5

     

    

 

SECTION 7.  Governing
Law. THIS LETTER SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, AND THE RIGHTS OF THE PARTIES SHALL BE GOVERNED BY, THE
LAW OF THE STATE OF NEW YORK EXCLUDING CHOICE OF LAW PRINCIPLES OF THE LAW OF SUCH STATE THAT WOULD PERMIT THE APPLICATION OF THE
LAWS OF A JURISDICTION OTHER THAN SUCH STATE.

 

SECTION 8.  Counterparts;
Section Titles. This letter may be executed in any number of counterparts and by different parties hereto in separate counterparts,
each of which when so executed and delivered shall be deemed to be an original and all of which when taken together shall constitute
but one and the same instrument. Delivery of an executed counterpart of a signature page to this letter by facsimile or electronic
transmission shall be effective as delivery of a manually executed counterpart of this letter. The section titles contained in
this letter are and shall be without substance, meaning or content of any kind whatsoever and are not a part of the agreement between
the parties hereto.

 

[signature page follows]

 

    6

     

    

 

	 	Very truly yours,
	 	 
	 	PGIM, INC.
	 	 
	 	By:	/s/ Dave Quackenbush
	 	 	   Vice President
	 	 
	 	THE PRUDENTIAL INSURANCE

 COMPANY   OF AMERICA
	 	 
	 	By:	 /s/ Dave Quackenbush
	 	 	   Vice President
	 	 
	 	THE GIBRALTAR LIFE INSURANCE

 CO.,   LTD.
	 	 
	 	By:	Prudential Investment Management Japan
	 	 	Co., Ltd. (as Investment Manager)
	 	 
	 	By:	PGIM, Inc.
	 	 	(as Sub-Adviser)
	 	 
	 	 	By:	 /s/ Dave Quackenbush
	 	 	 	   Vice President
	 	 
	 	PAR U HARTFORD LIFE &

 ANNUITY   COMFORT
    TRUST
	 	 
	 	By:	Prudential Arizona Reinsurance Universal
	 		Company (as Grantor)
	 	 
	 	By:	PGIM, Inc.
	 	 	(as Investment Manager)
	 	 
	 	 	By:	/s/ Dave Quackenbush
	 	 	 	   Vice President

 

Amendment No. 6 to Private Shelf Agreement

 

    

     

    

 

	 	THE LINCOLN NATIONAL LIFE INSURANCE
	 	  COMPANY
	 	FARMERS INSURANCE EXCHANGE
	 	MID CENTURY INSURANCE COMPANY
	 	THE INDEPENDENT ORDER OF FORESTERS
	 	 
	 	By:	Prudential Private Placement Investors, L.P.
	 	 	(as Investment Advisor)
	 	 
	 	By:	Prudential Private Placement Investors, Inc.
	 	 	(as its General Partner)
	 	 
	 	 	By:	 /s/ Dave Quackenbush
	 	 	 	   Vice President

 

Amendment No. 6 to Private Shelf Agreement

 

    

     

    

 

The foregoing letter is

hereby accepted as of the

date first above written:

 

	HILLENBRAND, INC.	 
	 	 
	By:	 /s/ Theodore S. Haddad, Jr.	 
	Name: Theodore S. Haddad, Jr.	 
	Title: Vice President and Treasurer	 

  

Amendment No. 6 to Private Shelf Agreement

 

    

     

    

 

	BATESVILLE CASKET COMPANY, INC.	 
	BATESVILLE MANUFACTURING, INC.	 
	BATESVILLE SERVICES, INC.	 
	 	 
	By:	 /s/ Theodore S. Haddad, Jr.	 
	Name: Theodore S. Haddad, Jr.	 
	Title: Vice President and Treasurer	 
	 	 
	COPERION K-TRON PITMAN, INC.	 
	ROTEX GLOBAL, LLC	 
	K-TRON INVESTMENT CO.	 
	TERRASOURCE GLOBAL CORPORATION	 
	RED VALVE COMPANY, INC.	 
	 	 
	By:	 /s/ Theodore S. Haddad, Jr.	 
	Name: Theodore S. Haddad, Jr.	 
	Title: Assistant Treasurer	 
	 	 
	COPERION CORPORATION	 
	 	 
	By:	 /s/ Theodore S. Haddad, Jr.	 
	Name: Theodore S. Haddad, Jr.	 
	Title: Vice President and Assistant Treasurer	 
	 	 
	PROCESS EQUIPMENT GROUP, INC.	 
	 	 
	By:	 /s/ Theodore S. Haddad, Jr.	 
	Name: Theodore S. Haddad, Jr.	 
	Title: Treasurer	 

  

Amendment No. 6 to Private Shelf AgreementExhibit 10.3 

 

Execution
Version

 

Dated 10 January 2020

 

in respect of the

  

SYNDICATED L/G FACILITY AGREEMENT

 

   EUR 150,000,000

 

   originally dated 8 March 2018 (as amended and restated 4 September 2019)

 

   HILLENBRAND, INC. AND CERTAIN OF ITS SUBSIDIARIES

 

   arranged by

 

  COMMERZBANK AKTIENGESELLSCHAFT

 

 (as Arranger)

 

  with

 

  COMMERZBANK
FINANCE & COVERED BOND S.A.

 

(as Agent)

 

 

 

 

 

 

 

SECOND AMENDMENT AGREEMENT

 

 

 

 

 

Die Welle
 Reuterweg 20
 60323 Frankfurt am Main
 Tel: +49.69.6062.6000

www.lw.com    

 

     

     

    

 

CONTENTS

 

	Clause	Page
	 	 
	1.	Definitions and Interpretation	1
	 	 	 
	2.	Amendment of Existing Facility Agreement	2
	 	 	 
	3.	Additional Commitment	3
	 	 	 
	4.	Confirmation of Guarantee	3
	 	 	 
	5.	Representations and Warranties	4
	 	 	 
	6.	Fees	4
	 	 	 
	7.	Costs and Expenses	4
	 	 	 
	8. 	Miscellaneous	4
	 	 	 
	9. 	Governing Law	5
	 	 	 
	Schedule 1	6
	 	 
	The Parties	 
	 	 
	Schedule 2	9
	 	 
	Conditions Precedent	 

 

    i

     

    

 

This Amendment Agreement (this "Agreement")
is made between the following parties:

 

	(1)	HILLENBRAND, INC. (the "Company");

 

	(2)	THE SUBSIDIARIES of the Company listed in Part 1 (The Obligors) of Schedule 1 (The
Parties) as borrowers (together with the Company the "Borrowers");

 

	(3)	THE SUBSIDIARIES of the Company listed in Part 1 (The Obligors) of Schedule 1 (The
Parties) as guarantors (together with the Company the "Guarantors");

 

	(4)	COMMERZBANK AKTIENGESELLSCHAFT as coordinator, mandated lead arranger and bookrunner (the
 "Arranger");

 

	(5)	THE FINANCIAL INSTITUTIONS listed in Part 2 (The Lenders) of Schedule 1 (The Parties)
as lenders and issuing banks (the "Lenders") and increase lenders (the "Increase Lenders"); and

 

	(6)	COMMERZBANK FINANCE & COVERED BOND S.A. as agent of the other Finance Parties (the "Agent").

 

Whereas:

 

	(A)	This Agreement is supplemental to and amends, on the Effective Date (as defined below), the syndicated
L/G facility agreement originally dated 8 March 2018 (as amended and restated 4 September 2019) between the Company, the Borrowers,
the Guarantors, the Arranger, the Lenders and the Agent (the "Existing Facility Agreement").

 

	(B)	The parties wish to amend the Existing Facility Agreement, with effect from the Effective Date
(as defined below), as at the date hereof on the terms and subject to the conditions set out in this Agreement.

 

It is agreed as follows:

 

	1.	Definitions
                                         and Interpretation

 

	1 .1	Definitions

 

Unless a contrary indication
appears, a term defined in the Amended Facility Agreement (as defined below) has the same meaning in this Agreement. In addition:

 

"Additional
Commitments" means the Additional Commitments (as defined in the Existing Facility Agreement) assumed by each Increase
Lender as of the Effective Date, as stated opposite the name of such Increase Lender under the heading "Additional Commitment"
in Schedule 1 (The Parties) Part 2 (The Lenders).

 

"Amended
Facility Agreement" means the Existing Facility Agreement as amended by this Agreement.

 

"Effective
Date" means the date on which the Agent confirms in writing to the Company satisfaction with the conditions precedent
set out in Schedule 2 (Conditions Precedent) hereto.

 

"Existing
Commitments" means the L/G Commitment of each Lender under the Existing Facilities Agreement as of the Effective Date,
as stated opposite the name of such Lender under the heading "Existing Commitment" in Schedule 1 (The Parties)
Part 2 (The Lenders).

 

    	 	1	 

     

    

 

	1.2	Construction

 

In this Agreement any reference
to a "Clause" or a "Schedule" is, unless the context otherwise requires or otherwise indicated, a reference
to a Clause of or a Schedule to this Agreement.

 

The principles of construction
set out clause 1.2 (Construction) of the Existing Facility Agreement shall be incorporated into this Agreement, mutatis
mutandis, as if such clause was set out in full save that references in the Existing Facility Agreement to "this Agreement"
shall be construed as references to the Amended Facility Agreement.

 

	1.3	Designation

 

In accordance with the Existing
Facility Agreement, each of the Company and the Agent designate this Agreement as a Finance Document.

 

	2.	Amendment
                                         of Existing Facility Agreement

 

	2.1	On the Effective Date, the Existing Facility Agreement shall
be amended as follows:

 

		(a)	the definition "Financial Year" on Clause 1.1 (Definitions) of the Existing
Facilities Agreement shall be restated in its entirety as follows:

 

""Financial
Year" means the financial year of the Company ending on 30 September as at the date of this Agreement; provided that the
Company may change the financial year to end on 31 December with prior notice to the Agent but without consent of Agent or any
Lender."

 

		(b)	the definition "L/G Fee Rate" on Clause 1.1 (Definitions) of the Existing
Facilities Agreement shall be restated in its entirety as follows:

 

""L/G
Fee Rate" means 0.70 per cent. per annum applicable from the date of this Agreement until the date the Compliance Certificate
for the Relevant Period ending 31 March 2018 has been delivered and thereafter if:

 

		(a)	no Event of Default has occurred and is continuing; and

 

		(b)	the Leverage Ratio in respect of the most recently completed Relevant Period
is within a range set out below,

 

then the
L/G Fee Rate for each L/G will be the percentage per annum set out below in the column opposite that range:

 

	Leverage Ratio	 	L/G Fee Rate (in % p.a.)	 
	Greater than or equal to 4.0:1	 	1.55	 
	Greater than or equal to 3.5:1 but less than 4.0:1	 	1.30	 
	Greater than or equal to 3.0:1 but less than 3.5:1	 	1.10	 
	Greater than or equal to 2.5:1 but less than 3.0:1	 	0.95	 
	Greater than or equal to 2.0:1 but less than 2.5:1	 	0.80	 
	Greater than or equal to 1.5:1 but less than 2.0:1	 	0.70	 
	Greater than or equal to 1.0:1 but less than 1.5:1	 	0.65	 
	Less than 1.0:1	 	0.55	 

 

However:

 

		(i)	any increase or decrease in the L/G Fee Rate shall take effect on the date
(the "reset date") which is the fifth Business Day following receipt by the Agent of the Compliance Certificate
for a Relevant Period pursuant to Clause 19.2 (Compliance Certificate); and

 

    	 	2	 

     

    

 

		(ii)	while an Event of Default is continuing or a Compliance Certificate has not
been delivered on its due date and remains undelivered, the L/G Fee Rate shall be the highest percentage per annum set out above."

 

		(c)	On the Effective Date paragraph (a) of Clause 20.2 (Financial condition) of the
Existing Facilities Agreement shall be restated in its entirety as follows, with retroactive effect as of 31 December 2019:

 

"(a)         Maximum
Leverage: the ratio of (i) (x) the Company's Consolidated Indebtedness minus (y) the Liquidity Amount to (ii) Consolidated EBITDA,
in each case in respect of any Relevant Period ending on or after 31 December 2019 shall not exceed a ratio of (A) 4.50:1 for the
fiscal quarters ending 31 December 2019 and 31 March 2020; (B) 4.25:1 for the fiscal quarter ending 30 June 2020; (C) 4.00:1 for
the fiscal quarter ending 30 September 2020; (D) 3.75:1 for the fiscal quarter ending 31 December 2020; (E) 3.50:1 for the fiscal
quarter ending 31 March 2021 and any fiscal quarter ending thereafter; provided that the Company may, on or after 1 January
2021, by written notice to the Agent for distribution to the Lenders (which notice may be in the Compliance Certificate for the
applicable fiscal quarter) and not more than once during the term of this Agreement, elect to increase the Maximum Leverage ratio
pursuant to this clause (a) to 4.00:1.00 for a period of three (3) consecutive fiscal quarters in connection with a Material Acquisition
(as defined in paragraph (c) of Clause 20.3 (Financial testing)) that involves the payment of consideration (including assumed
debt) by the Company and/or its Financial Subsidiaries in excess of USD 75,000,000 (or its equivalent in any other currency or
currencies) occurring during the first of such three fiscal quarters (each such period, an "Adjusted Covenant Period")."

 

	2.2	With the exception of the foregoing amendments, the Existing
Facility Agreement shall remain effective.

 

	3.	Additional
                                         Commitment

 

		(a)	In accordance with paragraph (b) of Clause 2.2 (Increase) of the Existing Facility
Agreement the Increase Lenders agree to assume and will assume the obligations corresponding to the Additional Commitment.

 

		(b)	The date on which the Additional Commitments in relation to the Increase Lenders is to take effect
is the Effective Date.

 

		(c)	This clause 3 is accepted as an Additional Commitment Request for the purposes of the Existing
Facilities Agreement by the Agent and the Company.

 

	4.	Confirmation
                                         of Guarantee

 

Each Guarantor confirms in relation
to its obligations thereunder that the provisions of the guarantee and indemnity contained in Clause 17 (Guarantee and
Indemnity) of the Existing Facility Agreement shall:

 

    	 	3	 

     

    

 

		(a)	remain in full force and effect on and after the date of this Agreement and will not be affected,
discharged or varied by the execution of this Agreement or the transactions contemplated by this Agreement; and

 

		(b)	with effect from the Effective Date, extend to the liabilities and obligations of the Obligors
under the Finance Documents as amended by this Agreement.

 

	5.	Representations
                                         and Warranties

 

		(a)	Each Obligor on the date of this Agreement and the Effective Date makes the Repeated Representations:

 

		(i)	as if each reference in those representations to "this Agreement" or "the Finance
Documents" includes a reference to (i) this Agreement and (ii) the Amended Facility Agreement and (iii) the definition of
Finance Document as amended in the Amended Facility Agreement; and

 

		(ii)	by reference to the facts and circumstances existing on the Effective Date, respectively.

 

		(b)	Each Obligor represents and warrants after giving effect to this Agreement on the Effective Date
that no Event of Default has occurred and is continuing or would occur as a consequence of this Agreement.

 

	6.	Fees

 

		(a)	The Company shall pay to each of the Lenders party hereto a non-refundable amendment fee of 0.05%
of the principal amount of its Existing Commitment as at the Effective Date, due and payable 10 Business Days after the occurrence
of the Effective Date, to be payable to the Facility Agent for distribution to each Lender party hereto.

 

		(b)	The Company shall pay to each of the Increase Lenders as a new money fee a non-refundable upfront
fee of 0.18% of the principal amount of its Additional Commitment as at the Effective Date, due and payable 10 Business Days after
the occurrence of the Effective Date, to be payable to the Facility Agent for distribution to each Increase Lender.

 

	7.	Costs and
                                         Expenses

 

All external costs and expenses
reasonably incurred in connection with this Agreement, including, but not limited to, the preparation and execution of this Agreement,
shall be borne by the Company in accordance with Clause 16 (Costs and Expenses) of the Amended Facility Agreement.

 

	8.	Miscellaneous

 

	8.1	Counterparts

 

This
Agreement may be executed in any number of counterparts and this has the same effect as if the signatures on the counterparts were
on a single copy of this Agreement.

 

	8.2	Partial Invalidity;
                                         Remedies and Waivers

 

The
provisions of Clause 32 (Partial Invalidity) and Clause 33 (Remedies and Waivers) of the Existing Facility Agreement
are hereby incorporated by reference into this Agreement and shall apply herein mutatis mutandis.

 

    	 	4	 

     

    

 

	9.	Governing
                                         Law

 

This Agreement
and any non-contractual obligations arising out of or in connection with this Agreement are governed by German law and the Company
submits to the jurisdiction of the courts of Frankfurt am Main, Germany in the terms set out in clause 40 (Enforcement)
of the Existing Facility Agreement (as if references in that clause 40 (Enforcement) to "this Agreement" were
references to this Agreement).

 

This Agreement has been entered into
on the date stated at the beginning of this Agreement.

 

    	 	5	 

     

    

 

 

Schedule
1 

 

The
Parties

 

Part 1

The Obligors

 

	
        Name of Borrower
	 	
        Registration number (or
        equivalent, if any)

	Hillenbrand, Inc.	 	
        One Batesville Boulevard

        Batesville, Indiana 47006

        Indiana Secretary of State

        #2007110100396

	Coperion GmbH	 	
        HRB 23976 (Local Court of Stuttgart)

        Theodorstraße 10, 70469 Stuttgart

	Coperion K-Tron (Schweiz) GmbH	 	
        CHE-105.883.566

        Lenzhardweg 43/45

        CH-5702 Niederlenz, Switzerland

	Rotex Europe Ltd	 	
        04307924 (Registered with Companies House)

        Ashton Lane North

        Whitehouse Vale

        Runcorn, Cheshire WA7 3FA,

        England

	Abel GmbH 	 	
        HRB 102566 (Local Court of Frankfurt am Main)

        Abel-Twiete 1

        21514 Büchen

 

	
        Name of Guarantor
	 	
        Registration number (or
        equivalent, if any)

	Hillenbrand, Inc.	 	
        One Batesville Boulevard

        Batesville, Indiana 47006

        Indiana Secretary of State

        #2007110100396

	Batesville Manufacturing, Inc.	 	
        One Batesville Boulevard

        Batesville, Indiana 47006

        Indiana Secretary of State

        #1998090618

	Batesville Casket Company, Inc.	 	
        One Batesville Boulevard

        Batesville, Indiana 47006

        Indiana Secretary of State

        #2008022200482

	Batesville Services, Inc.	 	
        One Batesville Boulevard

        Batesville, Indiana 47006

        Indiana Secretary of State

        #192822-024

	Process Equipment Group, Inc.	 	
        28 West State Street

        Trenton, New Jersey 08608

        New Jersey Secretary of State

        #5278301800

	K-Tron Investment Co.	 	
        103 Foulk Road, Suite 202

        Wilmington, Delaware 19802

        Delaware Secretary of State

        #2250493

	Coperion K-Tron Pitman, Inc.	 	
        1209 Orange Street

        Wilmington, Delaware 19801

        Delaware Secretary of State

        #0853369

 

    6

     

    

 

	Name of Guarantor	 	Registration number (or
        equivalent, if any)
	TerraSource Global Corporation	 	
        1209 Orange Street

        Wilmington, Delaware 19801

        Delaware Secretary of State

        #2105312

	Rotex Global, LLC	 	
        1209 Orange Street

        Wilmington, Delaware 19801

        Delaware Secretary of State

        #4312111

	Coperion Corporation	 	
        2711 Centerville Road, Suite 400

        Wilmington, Delaware 19808

        Delaware Secretary of State

        #0780901

	Red Valve Company, Inc.	 	
        600 North Bell Avenue

        Building II, Second Floor

        Carnegie, Pennsylvania 15106

        # 300220

 

    7

     

    

 

Part 2

The Lenders

 

	Name of Lender	 	Existing Commitment
 in EUR	 	 	Additional

 Commitment
 in EUR	 	 	Commitment after

 increase
 in EUR	 
	Commerzbank Aktiengesellschaft	 	 	75,000,000.00	 	 	 	5,000,000.00	 	 	 	80,000,000.00	 
	HSBC Trinkaus & Burkhardt AG	 	 	35,000,000.00	 	 	 	5,000,000.00	 	 	 	40,000,000.00	 
	Skandinaviska Enskilda Banken AB (publ) Frankfurt Branch	 	 	30,000,000.00	 	 	 	5,000,000.00	 	 	 	35,000,000.00	 
	Sumitomo Mitsui Banking Corporation	 	 	10,000,000.00	 	 	 	10,000,000.00	 	 	 	20,000,000.00	 
	TOTAL	 	 	150,000,000.00	 	 	 	25,000,000.00	 	 	 	175,000,000.00	 

 

    8

     

    

 

Schedule
2 

 

Conditions
Precedent

 

		1.	Obligors

 

		(a)	In relation to an Obligor incorporated or established in Germany an up-to-date commercial register
extract (Handelsregisterausdruck), its articles of association (Satzung) or partnership agreement (Gesellschaftsvertrag),
copies of any by-laws as well as a list of shareholders (Gesellschafterliste) (in each case, if applicable).

 

		(b)	A copy of a good standing certificate (including verification of tax status) with respect to each
U.S. Obligor, issued as of a recent date by the Secretary of State or other appropriate official of each U.S. Obligor's jurisdiction
of incorporation or organisation.

 

		(c)	In relation to an Obligor incorporated or established in a jurisdiction other than Germany a copy
of its constitutional documents.

 

		(d)	In relation to an Obligor incorporated or established in Germany a copy of a resolution signed
by all the holders of the issued shares of such Obligor and/or if applicable and required under the respective Obligor’s
constitutional documents, a copy of a resolution of the supervisory board (Aufsichtsrat) and/or advisory board (Beirat)
of such Obligor approving the terms of, and the transactions contemplated by the Agreement.

 

		(e)	In relation to an Obligor incorporated in a jurisdiction other than Germany, or England and Wales
or a jurisdiction of the U.S., a copy of a resolution signed by all the holders of the issued shares in each such Obligor, approving
the terms of, and the transactions contemplated by the Agreement.

 

		(f)	A copy of a resolution of the board of directors, or equivalent governing body, of each Obligor
incorporated or established in a jurisdiction other than Germany:

 

		(i)	approving the terms of, and the transactions contemplated by, the Agreement and resolving that
it execute the Agreement;

 

		(ii)	authorising a specified person or persons to execute the Agreement on its behalf; and

 

		(iii)	authorising a specified person or persons, on its behalf, to sign and/or despatch all documents
and notices (including, if relevant, any Utilisation Request) to be signed and/or despatched by it under or in connection with
the Agreement.

 

		(g)	A specimen of the signature of each person authorised to execute the Agreement and other documents
and notices (including, if relevant, any Utilisation Request) to be signed and/or despatched by it under or in connection with
the Agreement.

 

		(h)	A certificate of an authorised signatory of the relevant Obligor incorporated or established in
a jurisdiction in the United Kingdom, confirming that borrowing or guaranteeing, as appropriate, the Total Commitments would not
cause any borrowing, guarantee or similar limit binding on it to be exceeded.

 

		(i)	A certificate of an authorised signatory of the relevant Obligor certifying that each copy document
relating to it specified in this Schedule 2 (Conditions Precedent) is correct, complete and in full force and effect as
at a date no earlier than the date of this Agreement.

 

    9

     

    

 

		2.	Finance Documents

 

		(a)	This Agreement executed by each member of the Group party to this Agreement.

 

		3.	Legal opinions

 

		(a)	A legal opinion of Latham & Watkins LLP, legal advisers to the Arranger and the Agent in Germany
as to German law, substantially in the form distributed to the Lenders prior to signing this Agreement;

 

		(b)	A legal opinion of Latham & Watkins LLP, legal advisers to the Arranger and the Agent in Germany
as to English law, substantially in the form distributed to the Lenders prior to signing this Agreement;

 

		(c)	A legal opinion of Latham & Watkins LLP, legal advisers to the Arranger and the Agent in New
York as to certain U.S. law matters, substantially in the form distributed to the Lenders prior to signing this Agreement;

 

		(d)	A legal opinion of Niederer Kraft Frey Ltd, legal advisers to the Arranger and Agent in Switzerland
as to Swiss law, substantially in the form distributed to the Lenders prior to signing this Agreement;

 

		(e)	A legal opinion of Skadden, Arps, Slate, Meagher & Flom LLP, legal advisers to the Company
in Germany as to German law, substantially in the form distributed to the Lenders prior to signing this Agreement;

 

		(f)	A legal opinion of Skadden, Arps, Slate, Meagher & Flom (UK) LLP, legal advisers to the Company
in England as to English law, substantially in the form distributed to the Lenders prior to signing this Agreement;

 

		(g)	A legal opinion of Baker & McKenzie Zurich, legal advisers to the Company in Switzerland as
to Swiss law, substantially in the form distributed to the Lenders prior to signing this Agreement;

 

		(h)	A legal opinion of Skadden, Arps, Slate, Meagher & Flom LLP, legal advisers to the Company
in Delaware as to Delaware law, substantially in the form distributed to the Lenders prior to signing this Agreement;

 

		(i)	A legal opinion of Drinker Biddle & Reath LLP, legal advisers to the Company in New Jersey
as to New Jersey law, substantially in the form distributed to the Lenders prior to signing this Agreement;

 

	 	(j)	A legal opinion of Ice Miller LLP, legal advisers to the Company in Indiana as to Indiana law, substantially in the form
distributed to the Lenders prior to signing this Agreement;

 

provided that no legal opinion
shall be granted in relation to Red Valve Company, Inc.

 

		4.	Other documents and evidence

 

		(a)	A copy of any other authorisation or other document, opinion or assurance reasonably requested
by the Agent (if it has notified the Company accordingly) in connection with the entry into and performance of the transactions
contemplated by this Agreement or for the validity and enforceability of this Agreement.

 

    10

     

    

 

		(b)	A certificate of the Company certifying that:

 

		(i)	all of the representations and warranties of the Company set forth in the Agreement are true and
correct in all material respects (provided that any representation or warranty qualified by materiality or Material Adverse
Effect is true and correct in all respects), except that to the extent that such representation or warranty expressly relates to
an earlier date, such representation or warranty is true and correct as of such earlier date; and

 

		(ii)	after giving effect to the Agreement on the Effective
Date, no Default or Event of Default has occurred and is continuing.

 

		(c)	Confirmation by the Company that amendment no. 3 to the
Existing US Facilitiy Agreement, dated on or about the date of this Agreement, has become effective.

 

    11

     

    

 

  

SIGNATURES

 

 

THE COMPANY

 

Hillenbrand, Inc.

 

	By:	/s/ Theodore S. Haddad, Jr.	 	 
	 	 	 	 
	Address:	One Batesville Boulevard	 	 
	 	Batesville, Indiana 47006	 	 

 

 

THE BORROWERS

 

Hillenbrand, Inc.

 

	By:	/s/ Theodore S. Haddad, Jr.	 	 
	 	 	 	 
	Address:	One Batesville Boulevard 	 	 
	 	Batesville, Indiana 47006	 	 

 

 

Coperion GmbH

 

	By:	/s/ Kimberly Karen Ryan	 	/s/ Stefan Rottke
	 	 	 	 
	Address:	Theodorstraße 10,  	 	 
	 	70469 Stuttgart	 	 

 

 

Coperion K-Tron (Schweiz) GmbH

 

	By:	/s/ Theodore S. Haddad, Jr.	 	 
	 	 	 	 
	Address:	Lenzhardweg 43/45 	 	 
	 	CH-5702 Niederlenz, Switzerland  	 	 

 

 

[Hillenbrand -
Signature Page to Second Amendment Agreement]

 

     

     

    

 

Rotex Europe Ltd

 

	By:	/s/ Kristina A Cerniglia	 	 
	 	 	 	 
	Address:	Ashton Lane North	 	 
	 	Whitehouse Vale	 	 
	 	Runcorn, Cheshire WA7 3FA, England	 	 

 

 

Abel GmbH

 

	By:	/s/ Thorsten Adria	 	 
	 	 	 	 
	Address:	Abel-Twiete 1	 	 
	 	21514 Büchen	 	 

 

 

THE GUARANTORS 

 

Hillenbrand, Inc.

 

	By:	/s/ Theodore S. Haddad, Jr.	 	 
	 	 	 	 
	Address:	One Batesville Boulevard	 	 
	 	Batesville, Indiana 47006	 	 

 

 

Batesville Manufacturing, Inc.

 

	By:	/s/ Theodore S. Haddad, Jr.	 	 
	 	 	 	 
	Address:	One Batesville Boulevard	 	 
	 	Batesville, Indiana 47006	 	 

 

 

Batesville Casket Company, Inc.

 

	By:	/s/ Theodore S. Haddad, Jr.	 	 
	 	 	 	 
	Address:	One Batesville Boulevard	 	 
	 	Batesville, Indiana 47006	 	 

 

 

[Hillenbrand - Signature Page to Second
Amendment Agreement]

 

     

     

    

 

Batesville Services, Inc.

 

	By:	/s/ Theodore S. Haddad, Jr.	 	 
	 	 	 	 
	Address:	One Batesville Boulevard 	 	 
	 	Batesville, Indiana 47006	 	 

 

 

Process Equipment Group, Inc.

 

	By:	/s/ Theodore S. Haddad, Jr.	 	 
	 	 	 	 
	Address:	28 West State Street	 	 
	 	Trenton, New Jersey 08608	 	 

 

 

K-Tron Investment Co.

 

	By:	/s/ Theodore S. Haddad, Jr.	 	 
	 	 	 	 
	Address:	103 Foulk Road, Suite 202	 	 
	 	Wilmington, Delaware 19803	 	 

 

 

Coperion K-Tron Pitman, Inc.

 

	By:	/s/ Theodore S. Haddad, Jr.	 	 
	 	 	 	 
	Address:	1209 Orange Street	 	 
	 	Wilmington, Delaware 19801	 	 

 

 

TerraSource Global Corporation

 

	By:	/s/ Theodore S. Haddad, Jr.	 	 
	 	 	 	 
	Address:	1209 Orange Street	 	 
	 	Wilmington, Delaware 19801	 	 

 

 

[Hillenbrand - Signature Page to Second
Amendment Agreement]

 

     

     

    

 

Rotex Global, LLC

 

	By:	/s/ Theodore S. Haddad, Jr.	 	 
	 	 	 	 
	Address:	1209 Orange Street	 	 
	 	Wilmington, Delaware 19801	 	 

 

 

Coperion Corporation

 

	By: 	/s/ Theodore S. Haddad, Jr.	 	 
	 	 	 	 
	Address:	2711 Centerville Road, Suite 400 	 	 
	 	Wilmington, Delaware 19808	 	 

 

 

Red Valve Company, Inc.

 

	By:	/s/ Theodore S. Haddad, Jr.	 	 
	 	 	 	 
	Address:	600 North Bell Avenue, Building II,	 	 
	 	Second Floor	 	 
	 	Carnegie,	 	 
	 	Pennsylvania 15106	 	 

 

 

[Hillenbrand - Signature Page to Second
Amendment Agreement]

 

     

     

    

 

THE AGENT

 

Commerzbank Finance & Covered Bond
S.A.

 

	By:	/s/ Frank Rommelfanger	 	/s/ Marcus Gögler
	 	  Frank Rommelfanger	 	 Marcus Gögler
	 	 Assistant Vice President 	 	 Assistant Vice President

 

THE ARRANGER

 

Commerzbank Aktiengesellschaft

 

	By:	/s/ Alexander Gillhausen 	 	/s/ Maximilian Buller 
	 	 Alexander Gillhausen	 	 Maximilian Buller

 

THE LENDERS AND INCREASE LENDERS

 

Commerzbank Aktiengesellschaft

 

	By:	/s/ Jens-H. Meyer	 	/s/ Andrea Dambacher
	 	 Jens-H. Meyer	 	 Andrea Dambacher
	 	 Director	 	 Assistant Vice President

  

HSBC Trinkaus & Burkhardt AG

 

	By:	/s/ Cristoph Pott	 	/s/ Farrah Sikandary
	 	 Cristoph Pott	 	 Farrah Sikandary

 

Skandinaviska Enskilda Banken AB (publ)
Frankfurt Branch

 

	By:	/s/ Sakari Järvelä	 	/s/ Philipp Jentzmik
	 	 Sakari Järvelä	 	 Philipp Jentzmik
	 	 Head of Investment Banking, Germany	 	 Head of Legal, LC&FI

 

Sumitomo Mitsui Banking Corporation

 

	By:	/s/ Alexander Kowald	 	/s/ Marco Frensel
	 	 Alexander Kowald	 	 Marco Frensel 
	 	 Director	 	 Executive Director 

 

 

[Hillenbrand - Signature Page to Second
Amendment Agreement]

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