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EXHIBIT 10(h)  

  
 

    MINNTECH CORPORATION
  NON-QUALIFIED STOCK OPTION AGREEMENT    
  

    THIS OPTION AGREEMENT is made as of the 29th day of November, 2000, between MINNTECH CORPORATION, a Minnesota corporation (the "Company"), and R. JAMES
DANEHY, an employee of the Company (the "Optionee"). 

    The
Company desires to afford the Optionee an opportunity to purchase shares of its Common Stock, of the par value of Five Cents ($.05) per share (the "Common Stock"), as hereinafter
provided. 

    THEREFORE,
the parties hereby agree as follows: 

    1.  Grant of Option.  The Company hereby grants to the Optionee the right and option (hereinafter called
the "Option") to purchase from the Company 333,964 shares of the Common Stock of the Company on the terms and conditions herein set forth. 

    2.  Purchase Price.  The purchase price of the shares of the Common Stock covered by the Option shall be
$6.3125 per share. 

    3.  Term of Option.  The term of the Option shall be for a period of ten (10) years from the date
on which the Board of Directors of the Company (the "Board") takes action to approve the Option (the "Option Date"), subject to earlier termination as hereinafter provided. 

    4.  Exercise of Option.  During the first year the Option is outstanding it may not be exercised with
respect to any of the shares covered thereby. Thereafter, subject to the terms and conditions hereof, the Option may be exercised as follows: 

	(a)
	From
and after 12 months from the Option Date, the option may be exercised as to 111,321 shares.

	(b)
	From
and after 24 months from the Option Date, the option may be exercised as to 111,321 shares.

	(c)
	From
and after 36 months from the Option Date, the Option may be exercised as to 111,322 shares. 

    5.  Non-Transferability.  The Option shall not be transferable by the Optionee otherwise than by will or
by the laws of descent and distribution, and the Option shall be exercisable during the Optionee's lifetime, only by the Optionee. 

    6.  Death or Disability of Optionee.  If the Optionee's employment with the Company shall terminate by
reason of death or by Disability (as such term is defined in the Employment Agreement between the Company and the Optionee dated November 29, 2000 (the "Employment Agreement")), the Option may
be exercised (to the extent that the Optionee shall have been entitled to do so at the date of his termination of employment by reason of death or Disability) by the Optionee, his or her legal
representative, or, in the case of death, by the person to whom the Option is transferred by will or the applicable laws of descent and distribution at any time within six (6) months after the
Optionee's termination of employment, but in no event later than the expiration of the term specified in Section 3 hereof. 

    7.  Termination of Employment.  In the event the employment of the Optionee shall voluntarily terminate
for any reason other than death or Disability, any unexercised Option may be exercised by the Optionee at any time within ten (10) days of such termination but only to the extent the Option was
exercisable by the Optionee on the date of termination. In the event the employment of the Optionee shall be involuntarily terminated by the Company for any reason other than Termination by the
Company For Cause (as that term is defined in the Employment Agreement), death or Disability, any unexercised Option may be exercised by the Optionee at any time within one (1) year of such
termination but only to the extent the Option was exercisable by the Optionee on the date of termination. In the event the 

 

employment of the Optionee shall be terminated involuntarily by the Company by reason of Termination by the Company For Cause (as that term is defined in the Employment Agreement), any unexercised
Option shall immediately be forfeited. In no event shall any option be exercisable after the expiration of the term specified in Section 3 hereof. So long as the Optionee shall continue to be
an employee of the Company or one or more of its subsidiaries, the Option shall not be affected by any change of duties or position. Nothing in this Option Agreement shall confer upon the Optionee any
right to continue in the employ of the Company or of any of its subsidiaries or interfere in any way with the right of the Company or any such subsidiary to terminate the employment of the Optionee at
any time. Nothing stated in this Section 7 shall limit the immediate vesting and exercisability of the
Option upon the occurrence of a Change in Control of the nature referred to in Section 3(c) of the Employment Agreement (other than a Change in Control of the nature described in
Section 13 hereof) unless it shall have expired prior to the Change in Control. 

    8.  Method of Exercising Option.  Subject to the terms and conditions of this Option Agreement, the
Option may be exercised by written notice to the Secretary of the Company at the principal office of the Company. Such notice shall state the election to exercise the Option and the number of shares
in respect of which it is being exercised, and shall be signed by the person so exercising the Option. Such notice shall be accompanied by payment of the full purchase price of such shares, payable to
the Company, or, provided such form of payment does not result in a charge to earnings of the Company for financial accounting purposes, by delivery of shares of Common Stock of the Company with a
Fair Market Value equal to the purchase price or by a combination of cash and such shares, whose Fair Market Value shall equal the purchase price. For purposes of this Section 8, the "Fair
Market Value" of the Common Stock of the Company shall mean the closing sale price of a share of the Common Stock ("Shares," and each individually, a "Share") on the date immediately preceding such
date or, if no sale of Shares shall have occurred on that date, on the next preceding day on which a sale of Shares occurred, on the Composite Tape for New York Stock Exchange listed shares or, if
Shares are not quoted on the Composite Tape for New York Stock Exchange listed shares, on the Nasdaq National Market or any similar system then in use or, if Shares are not included in the Nasdaq
National Market or any similar system then in use, the mean between the closing "bid" and the closing "asked" quotation of a Share on the date immediately preceding the date as of which such Fair
Market Value is being determined, or, if no closing bid or asked quotation is made on that date, on the next preceding day on which a quotation is made, on the Nasdaq SmallCap Market or any similar
system then in use, provided that if the Shares in question are not quoted on any such system, Fair Market Value shall be what the Board determines in good faith to be one-hundred (100) percent of the
Fair Market Value of a Share as of the date in question. Notwithstanding anything stated in this Section 8, if the applicable securities exchange or system has closed for the day by the time the
determination is being made, all references in this section to the date immediately preceding the date in question shall be deemed to be references to the date in question. In the event the Option
shall be exercised by any person other than the Optionee, such notice shall be accompanied by appropriate proof of such right of such person to exercise the Option. 

    9.  Withholding Taxes.  The Optionee shall, no later than the date as of which the value of the Option
first becomes includible in the gross income of Optionee for Federal income tax purposes, pay to the Company, or make arrangements satisfactory to the of the Board regarding payment of, any payroll
taxes required by law to be withheld with respect to the Option. The obligations of the Company shall be conditional on such payment or arrangements and the Company and its subsidiaries shall, to the
extent permitted by law, have the right to deduct any such taxes from any payment of any kind otherwise due to the Optionee. The Optionee may elect by written notice to the Company to satisfy part or
all of such withholding tax requirements by (i) authorizing the Company to retain from the number of shares of Common Stock issuable upon exercise of all or part of the Option shares, or
(ii) delivering to the Company shares of Common Stock already owned by Optionee, having an aggregate Fair Market Value equal to part or all of the withholding tax payable by the Optionee. For
purposes of this paragraph, the "Fair Market Value" of the Common Stock of the Company shall be established as specified in Section 8 hereof. Any 

2

 

such election shall be in accordance with, and subject to, applicable tax and securities laws, regulations, and rulings, as determined by counsel to the Company. 

    10.  Cash Payment.  If a Change in Control of the Company as defined in the Management Agreement between
the Company and the Optionee dated November   , 2000 (the "Management Agreement") shall occur, then, so long as a majority of the members of the Board continue as Directors, the
Board, in its sole discretion, and without the consent of the Optionee, may determine that all or a portion of the Option shall be cancelled as of the effective date of any such Change in Control and
that the Optionee shall receive, with respect to the amount of the Common Stock subject to the Option that shall be cancelled, as of the date of such cancellation, cash in an amount, for each such
Share subject to the Option that shall be cancelled, equal to the excess of the Fair Market Value of such Shares (as defined in Section 8 hereof) immediately prior to such Change in Control of
the Company over the exercise price per Share of the Option. 

    11.  Limitation on Change in Control Payments.  Notwithstanding anything in this Option Agreement to the
contrary, if, with respect to the Optionee, the acceleration of the exercisability of the Option or the payment of cash in exchange for all or part of the Option as provided in this Option Agreement
(which acceleration or payment could be deemed a "payment" within the meaning of Section 280G(b)(2) of the Code), together with any other payments which the Optionee has the right to
receive from the Company or any corporation which is a member of an "affiliated group" (as defined in Section 1504(a) of the Code without regard to Section 1504(b) of the
Code) of which the Company is a member, would constitute a "parachute payment" (as defined in Section 280G(b)(2) of the Code), then such acceleration of exercisability and payments shall
be reduced to the largest amount as, in the sole judgment of the Board, shall result in no portion of such payments being subject to the excise tax imposed by Section 4999 of the Code. 

    12.  Dissolution, Liquidation, Merger.  In the event of (a) the proposed dissolution or
liquidation of the Company, (b) a proposed sale of substantially all of the assets of the Company, or (c) a proposed merger, consolidation of the Company with or into any other entity,
regardless of whether the Company is the surviving corporation, or a proposed statutory share exchange with any other entity (the actual effective date of the dissolution, liquidation, sale, merger,
consolidation, or exchange being herein called an "Event"), the Board may, but shall not be obligated to, either (i) if the Event is a merger, consolidation, or statutory share exchange, make
appropriate provision for the protection of the Option granted by the Company by the substitution, in lieu of such Option, of options to purchase appropriate voting common stock (the "Survivor's
Stock") of the corporation surviving any such merger or consolidation or, if appropriate, the parent corporation of the Company or such surviving corporation, or, alternatively, by the delivery of a
number of shares of the Survivor's Stock which has a Fair Market Value (as defined in Section 8 hereof) as of the effective date of such merger, consolidation, or statutory share exchange equal
to the product of (x) the excess of (A) the Event Proceeds per Share (as hereinafter defined) covered by the Option as of such effective date over (B) the
exercise price per Share of the Shares subject to the Option, times (y) the number of Shares covered by the Option, or (ii) declare, at least 20 days prior to the Event, and provide written
notice to the Optionee of the declaration, that the Option, whether or not then exercisable, shall be canceled at the time of, or immediately prior to the occurrence of, the Event (unless it shall
have been exercised prior to the occurrence of the Event). In connection with any declaration pursuant to clause (ii) of the preceding sentence, the Board may, but shall not be obligated to,
cause payment to be made, within twenty (20) days after the Event, in exchange for the cancelled Option to the Optionee, of cash equal to the amount (if any), for each Share covered by the canceled
Option, by which the Event Proceeds per Share (as hereinafter defined) exceeds the exercise price per Share covered by such Option. At the time of any declaration pursuant to clause (ii) of the
first sentence of this Section 12, to the extent that the Option has not previously expired or been cancelled pursuant to Section 10 hereof, it shall immediately become exercisable in full and
the Optionee shall have the right, during the period preceding the time of cancellation of the Option, to exercise the Option as to all or any part of the Shares 

3

 

covered thereby. In the event of a declaration pursuant to clause (ii) of the first sentence of this Section 12, to the extent that the Option shall not have been exercised prior to the Event it shall
be canceled at the time of, or immediately prior to, the Event, as provided in the declaration, and this Option Agreement shall terminate at the time of such cancellation, subject to the payment
obligations of the Company provided in this Section 12. Notwithstanding the foregoing, the Optionee shall not be entitled to the payment provided in this Section 12 if the Option shall
have expired or been cancelled pursuant to Section 10 hereof. For purposes of this Section 12, "Event Proceeds per Share" shall mean the cash plus the fair market value, as determined in
good faith by the Board, of the non-cash consideration to be received per Share by the shareholders of the Company upon the occurrence of the Event. 

    13.  Special Transaction.  Notwithstanding any other provisions of this Option Agreement, if a Change in
Control (as defined in the Management Agreement) occurs on or before the first anniversary of the commencement of Executive's employment with the Company, then the Option as provided in this Option
Agreement shall immediately be null and void and this Option Agreement shall have no force or effect. 

    14.  Disputes.  As a condition of the granting of the Option herein granted, the Optionee agrees, for the
Optionee and the Optionee's personal representatives, that any dispute or disagreement which may arise under or as a result of or pursuant to this Option Agreement shall be determined by the Board, in
its sole discretion, and that any interpretation by the Board of the terms of this Option Agreement shall be final, binding, and conclusive. 

    15.  Binding Effect.  This Option Agreement shall be binding upon the heirs, executors, administrators,
and successors of the parties hereto. 

    IN
WITNESS WHEREOF, the Company and the Optionee have executed this Option Agreement as of the date and year first above written. 

	R. JAMES DANEHY	 	MINNTECH CORPORATION
	

Optionee	

 	
 	

By:	

 
	 	
	 	 	
 William Hope
 Chairman

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MINNTECH CORPORATION NON-QUALIFIED STOCK OPTION AGREEMENT<PAGE>

                   WAIVER AND MODIFICATION OF CREDIT AGREEMENT

         THIS AGREEMENT is made as of the 29th day of September, 2000, by and
between SOUTHTRUST BANK, an Alabama corporation formerly known as SouthTrust
Bank, National Association acting as a Lender and as Administrative Agent and
Funding Agent (collectively "Agent") pursuant to the Credit Agreement FIRST
UNION NATIONAL BANK, a national banking association acting as a Lender, NATIONAL
CITY BANK OF KENTUCKY, NATIONAL ASSOCIATION, a national banking association
acting as a Lender, SUNTRUST BANK, a Georgia corporation, formerly known as
SUNTRUST BANK, SOUTH FLORIDA, N.A., a national banking association, acting as a
Lender, and BARCLAYS BANK, P.L.C., acting as a Lender (collectively the
"Lenders"), and TODHUNTER INTERNATIONAL, INC., a Delaware corporation (the
"Borrower").

                                   WITNESSETH:

         WHEREAS, Lenders, Agent and Borrower entered into a Credit Agreement
dated as of November 17, 1999 (the "Credit Agreement") in connection with which
Lenders made available to Borrower a revolving line of credit in the maximum
principal amount of FIFTEEN MILLION and no/100s Dollars ($15,000,000.00) (the
"Revolving Line of Credit") evidenced by certain Revolving Credit Notes (the
"Revolving Notes") and Term Loans in the maximum principal amount of FIFTY SIX
MILLION and no/100 Dollars ($56,000,000.00) evidenced by certain Term Notes
(collectively with the Revolving Notes the "Notes"), secured and evidenced by
the Loan Documents, as defined in the Credit Agreement; and

         WHEREAS, Lenders, Agent and Borrower have agreed to revise certain
provisions of the Credit Agreement.

         NOW, THEREFORE, in consideration of the mutual promises and covenants
of this agreement and for other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, Lenders, Agent and Borrower agree
as follows:

1. RECITALS/TERMS. All of the recitals set forth above are true and correct and
by this reference are made a material part of this Agreement. All capitalized
terms used herein which are defined in the Credit Agreement shall have the
meaning provided therein when used herein unless the context shall require
otherwise.

2. REAFFIRMATION OF NOTE. Borrower hereby acknowledges that the Notes continue
to evidence the Revolving Loans and the Term Loans.

3. MODIFICATION OF DEFINITIONS.

                  Each of the definitions of "Control", "Funded Debt" and
"Senior Management" is hereby amended and restated in its entirety as follows:

<PAGE>

                  "CONTROL" means that any one Person or group of related
Persons (other than Angostura Limited and/or its Affiliates) which own or
acquire more than fifty percent (50%) of the outstanding shares of voting stock
of the Borrower or any Subsidiary thereof. In the event a form 13(d) is filed
with the SEC by Borrower, Angostura or its Affiliates relating to the
acquisition of additional stock of Borrower by Angostura or its Affiliates a
copy of the form 13(d) will be provided to the Agent simultaneously with the
filing with the SEC.

                  "FUNDED DEBT" means without duplication, the principal balance
of all indebtedness, for money borrowed, purchase money mortgages, capitalized
leases, conditional sales contracts and similar title retention debt instruments
under which Borrower or any of its Subsidiaries is an obligor, including any
current maturities of such indebtedness, plus all debt of other entities or
Persons, other than Subsidiaries, which has been guaranteed by the Borrower or
any Subsidiary (other than the current balance of the indebtedness of Premier
Wines & Spirts, Ltd. as of the Effective Date guaranteed by Borrower), or which
is supported by a letter of credit issued for the account of the Borrower or any
Subsidiary which by its terms matures more than one year from the date of any
calculation thereof and/or which is renewable or extendible at the option of the
obligor to a date beyond one year from such date; PROVIDED THAT, for the
purposes of this Agreement, "Funded Debt" shall not include the Tank Loan or
amounts transferred quarterly to Borrower's Bahamian Subsidiary and the
bi-weekly excise tax payments made by Borrower in connection therewith, provided
that such transfers and excise payments shall not in the aggregate exceed Five
Million and no/100s Dollars ($5,000,000.00).

                  "SENIOR MANAGEMENT" includes, but is not limited to, Messrs.
Pincourt, Maltby, Valdes, Mitchell and Edwards and specifically requires that
Messrs. Pincourt, Maltby and Valdes in the aggregate have and exercise the same
extent of management control and responsibilities as they had on the date of
execution of the Credit Agreement.

4. Subject to the terms of this Modification, the Lenders hereby agree to waive
any Default or Event of Default which may have occurred (i) as of March 31,
2000, as a result of the non-compliance by the Borrower as of March 31, 2000
with the provisions of Section 10.4 (Funded Debt Ratio) of the Credit Agreement;
and (ii) as a result of the non-compliance by the Borrower with the provisions
of Section 9.13 (Change of Senior Management or Control) of the Credit Agreement
solely as a result of the acquisition by Angostura Limited and/or its Affiliates
of more than fifty percent (50%) of the voting stock of the Borrower.

         The foregoing waivers are expressly limited to the matters stated
herein and shall apply solely to the specific provisions of the Credit Agreement
set forth above and, in the case of Section 10.4 of the Credit Agreement, solely
for the date set forth above. The foregoing waivers shall not be deemed or
construed as a waiver of or consent to (i) the non-compliance by the Borrower
with any other covenant, term or condition of the Credit Agreement or any of the
Loan Documents, or (ii)(a) any further non-compliance by the Borrower subsequent
to March 31, 2000 with the provisions of Section 10.4 of the Credit Agreement,
or (b) any further non-compliance by the Borrower with the provisions of Section
9.13 of the Credit Agreement, as amended herein.

<PAGE>

5. Borrower hereby warrants and represents to Lenders that, since the date of
the Credit Agreement other than violations of the financial covenant contained
in Sections 9.13 and 10.4 of the Credit Agreement caused by quarterly transfers
to Borrower's Bahamian subsidiary and the payment of excise taxes, Borrower has
been and is in compliance with all provisions of the Credit Agreement and all
other Loan Documents and that no Default or Event of Default has occurred
thereunder nor has any event occurred or failed to occur which with the passage
of time or the giving of notice or both would comprise such a Default or Event
of Default.

6. Borrower hereby ratifies and confirms each of its obligations and
indebtedness under the Credit Agreement and each of the other Loan Documents, as
amended hereby, and hereby represents and warrants to the Lenders and the Agent
that Borrower neither has nor claims any defenses, counterclaims or offsets to
any such obligations or indebtedness.

7. The effectiveness of this Modification and the amendments contemplated herein
are expressly conditioned upon the payment by the Borrower to the Agent for the
prorata benefit of the Lenders an amendment fee equal to $32,500.00 and
reimbursement by the Borrower of the Agent and each of the Lenders for all
reasonable attorneys' fees and expenses incurred by each of them in connection
with this Modification.

8.       MISCELLANEOUS.

(a) This agreement shall be governed by and construed in accordance with the law
of the State of Florida. Paragraph headings used herein are for convenience only
and shall not be used to interpret any term hereof. The Credit Agreement shall
continue in full force and effect as modified by this Modification. In the event
the terms of this Modification conflict with the terms of the Credit Agreement,
the terms of this Modification shall control.

(b) This Modification constitutes the entire agreement among the parties hereto
and supersedes all prior agreements, understandings, negotiations and
discussions, both written and oral among the parties hereto with respect to the
subject matter hereof, all of which prior agreements, understanding,
negotiations and discussions, both written and oral, are merged into this
Modification. All provisions of the Credit Agreement and each of the other Loan
Documents shall remain in full force and effect as modified by this Agreement.
Without limiting the generality of any of the provisions of this Modification,
nothing herein or in any instrument or agreement shall be deemed or construed to
constitute a novation, satisfaction or refinancing of all or any portion of the
Loan or in any manner affect or impair the lien or priority of the Credit
Agreement or any of the Loan Documents as amended hereby.

(c) This Modification may be executed in any number of counterparts with each
executed counterpart constituting an original, but altogether constituting but
one and the same instrument.

(d) This Modification shall be binding upon and inure to the benefit of the
Borrower, the Agent and the Lenders and their respective heirs, legal
representatives, executors, successors and assigns.

<PAGE>

9. RELEASE. IN CONSIDERATION OF THE ACCOMMODATIONS PROVIDED HEREIN, THE BORROWER
HEREBY UNCONDITIONALLY, IRREVOCABLY AND FOREVER RELEASES, ACQUITS AND DISCHARGES
THE LENDERS AND EACH OF THE LENDERS' RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES,
AGENTS AND COUNSEL FROM ANY AND ALL CLAIMS, DEMANDS AND CAUSES OF ACTION THAT
ANY OF THEM HAD, NOW HAS OR MAY IN THE FUTURE HAVE AGAINST ANY ONE OR MORE OF
THE LENDERS OR ANY ONE OR MORE OF THE LENDERS' OFFICERS, DIRECTORS, EMPLOYEES,
AGENTS OR COUNSEL FOR THE ACTS OR OMISSIONS OF ANY OF THE FOREGOING PARTIES FROM
THE BEGINNING OF TIME THROUGH, TO AND INCLUDING THE DATE OF THE EFFECTIVENESS OF
THIS MODIFICATION, INCLUDING, WITHOUT LIMITATION, ANY CLAIMS ARISING OUT OF OR
CONNECTED IN ANY MANNER WITH THE TRANSACTIONS CONTEMPLATED HEREIN OR IN THE
CREDIT AGREEMENT, AS AMENDED HEREBY OR ANY OTHER LOAN DOCUMENTS, AS THE SAME MAY
BE AMENDED HEREBY, AS THE CASE MAY BE.

10. WAIVER OF JURY TRIAL. THE BORROWER, THE AGENT AND THE LENDERS HEREBY
KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE THE RIGHT ANY OF THEM MAY HAVE TO
A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON, OR ARISING OUT OF,
UNDER OR IN CONNECTION WITH THIS MODIFICATION OR ANY AGREEMENT EXECUTED IN
CONJUNCTION HEREWITH, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS,
(WHETHER VERBAL OR WRITTEN) OR ACTIONS BY ANY PARTY. THIS PROVISION IS A
MATERIAL INDUCEMENT TO THE LENDERS ENTERING INTO THIS MODIFICATION AND MAKING
ANY LOAN, ADVANCE OR OTHER EXTENSION OF CREDIT TO THE BORROWER. FURTHER, THE
BORROWER HEREBY CERTIFIES THAT NO REPRESENTATIVE OR AGENT OF THE LENDERS, NOR
THE AGENT OR ANY OF THE AGENT'S COUNSEL OR THE LENDERS' COUNSEL, HAS
REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE AGENT OR ANY OF THE AGENT'S
COUNSEL OR THE LENDERS WOULD NOT, IN THE EVENT OF SUCH LITIGATION, SEEK TO
ENFORCE THIS WAIVER OF RIGHT TO JURY TRIAL PROVISION. NO REPRESENTATIVE OR AGENT
OF THE LENDERS, NOR THE AGENT OR ANY OF THE AGENT'S COUNSEL OR THE LENDERS'

<PAGE>

COUNSEL HAS THE AUTHORITY TO WAIVE, CONDITION, OR MODIFY THIS PROVISION.

         IN WITNESS WHEREOF, the Borrower, the Agent and Lenders have caused
this agreement to be executed as of the day and year set forth above.

                                            BORROWER:
Witnesses:                                  TODHUNTER INTERNATIONAL, INC.,
                                            a Delaware corporation

/s/ Erika V. White                          By: /s/ A. Kenneth Pincourt, Jr.
---------------------------------------     -----------------------------------
Print Name: Erika V. White                      A. Kenneth Pincourt, Jr.
            ---------------------------     Its:  Chairman of the Board of
                                                  Directors/CEO

/s/ Troy Edwards
---------------------------------------
Print Name: Troy Edwards
           ----------------------------

STATE OF
COUNTY OF

         The foregoing instrument was acknowledged before me this 7th day of
December, 2001 by A.Kenneth Pincourt, Jr., as Chairman/CEO of Todhunter
International, Inc. a Delaware corporation, on behalf of the corporation. He/she
is personally known to me or has produced ____________________ (type of
identification) as identification.

                                            /s/ Edward A. Kay
                                            -------------------------------
                                             NOTARY PUBLIC, STATE OF FLORIDA

                                            Edward A. Kay, #CC 934433, Expires
                                            June 20, 2004
                                            -----------------------------------
                                            (Print, Type or Stamp Commissioned
                                             Name of Notary Public)

<PAGE>

                                            THE AGENT:

                                            SOUTHTRUST BANK, FORMERLY KNOWN AS
                                            SOUTHTRUST BANK, NATIONAL
                                            ASSOCIATION
Witnesses:

/s/ Antonio Duboy                           By: /s/ D.Guy Guenthner
------------------------------------            --------------------------
Print Name: Antonio Duboy                   Print Name: D. Guy Guenthner
           -------------------------                   -------------------
                                            Title: Group Vice President
                                                  ------------------------

/s/ Michael Simm
-----------------------------------
Print Name: Michael Simm
           ------------------------

STATE OF FLORIDA
COUNTY OF PALM BEACH

         The foregoing instrument was acknowledged before me this 7th day of
December, 2001 by D. Guy Guenthner, as Group Vice President of SouthTrust Bank,
on behalf of the bank. He/she is personally known to me or has produced N/A
(type of identification) as identification.

                                             /s/ Linda L. Webb
                                             -------------------------------
                                             NOTARY PUBLIC, STATE OF FLORIDA

                                             Linda L. Webb, #CC 965574, Expires
                                             October 20, 2004
                                             ----------------------------------
                                             (Print, Type or Stamp Commissioned
                                             Name of Notary Public)

<PAGE>

                                            THE LENDERS:

                                            SOUTHTRUST BANK, FORMERLY KNOWN AS
                                            SOUTHTRUST BANK, NATIONAL
                                            ASSOCIATION
Witnesses:

/s/ Antonio Duboy                           By:/s/ D. Guy Guenthner
------------------------------------           ---------------------------
Print Name: Antonio Duboy                   Print Name: D. Guy Guenthner
           -------------------------                   -------------------
                                            Title: Group Vice President
                                                  ------------------------

/s/ Michael Simm
-----------------------------------
Print Name: Michael Simm
           ------------------------

STATE OF FLORIDA
COUNTY OF PALM BEACH

         The foregoing instrument was acknowledged before me this 17 day of
November, 20010 by D. Guy Guenthner as Group Vice President of SouthTrust Bank,
on behalf of the bank. He/she is personally known to me or has produced N/A
(type of identification) as identification.

                                             /s/ Linda L. Webb
                                             -------------------------------
                                             NOTARY PUBLIC, STATE OF FLORIDA

                                             Linda L. Webb, #CC 965574, expires
                                             October 20, 2004
                                             -----------------------------------
                                             (Print, Type or Stamp Commissioned
                                             Name of Notary Public)

<PAGE>

                                            FIRST UNION NATIONAL BANK

Witnesses:

/s/ Jaqueline Borbouse                      By: /s/ M. Walker Duvall
---------------------------------------        ---------------------------
Print Name: Jaqueline Borbouse              Print Name: M. Walker Duvall
           ----------------------------                -------------------
                                            Title: Senior Vice President
                                                  ------------------------

/s/ Lisa A. O'Brien
---------------------------------------
Print Name: Lisa A. O'Brien
           ----------------------------

STATE OF FLORIDA
COUNTY OF PALM BEACH

         The foregoing instrument was acknowledged before me this 7th day of
December, 2001 by Walker Duvall , as Senior Vice President of First Union
National Bank, on behalf of the bank. He/she is personally known to me or has
produced ____________________ (type of identification) as identification.

                                             /s/ Pamela Ramkalawan
                                             -------------------------------
                                             NOTARY PUBLIC, STATE OF FLORIDA

                                             Pamela Ramkalawan, # CC 944979,
                                             Expires June 13, 2004
                                             --------------------------------
                                             (Print, Type or Stamp Commissioned
                                             Name of Notary Public)

<PAGE>

                                            SUNTRUST BANK, FORMERLY KNOWN AS
                                            SUNTRUST BANK, SOUTH FLORIDA, N.A.
Witnesses:

/s/ Michael Miller                          By: /s/ Jeffrey S. Wolfe
---------------------------------------        ---------------------------
Print Name: Michael Miller                  Print Name: Jeffrey S. Wolfe
           ----------------------------                 ------------------
                                            Title: Vice President
                                                  ------------------------

/s/ Jennifer L. Power
---------------------------------------
Print Name: Jennifer L. Power
           ----------------------------

STATE OF FLORIDA
COUNTY OF PALM BEACH

         The foregoing instrument was acknowledged before me this 28th day of
November, 2001 by Jeffrey S. Wolfe, as Vice President of SunTrust Bank, on
behalf of the bank. He/she is personally known to me or has produced
____________________ (type of identification) as identification.

                                             /s/ Doreen Fischer
                                             -------------------------------
                                             NOTARY PUBLIC, STATE OF FLORIDA

                                             Doreen Fischer, #CC 853578,
                                             Expires July 11, 2003
                                             ----------------------------------
                                             (Print, Type or Stamp Commissioned
                                             Name of Notary Public)

<PAGE>

                                            NATIONAL CITY BANK OF KENTUCKY,
                                            NATIONAL ASSOCIATION
Witnesses:

/s/ Glenn Nord                              By: /s/ Todd W. Ethington
---------------------------------------        ---------------------------
Print Name: Glenn Nord                      Print Name: Todd W. Ethington
           ----------------------------                -------------------
                                            Title: Vice President
                                                  ------------------------
/s/ Kevin Anderson
---------------------------------------
Print Name: Kevin Anderson
           ----------------------------

STATE OF
COUNTY OF

         The foregoing instrument was acknowledged before me this 13 day of
December, 2000 by Todd Ethington, as VP of National City Bank of Kentucky,
National Association, on behalf of the bank. He/she is personally known to me
or has produced ____________________ (type of identification) as
identification.

                                             /s/ Vickie L. Ross
                                             -------------------------------
                                             NOTARY PUBLIC, STATE OF FLORIDA

                                             Vickie L. Ross, Commission
                                             Expires October 14, 2003
                                             --------------------------------
                                             (Print, Type or Stamp Commissioned
                                             Name of Notary Public)

<PAGE>

                                      BARCLAYS BANK, P.L.C.
  Witnesses:

/s/ Miriana Ortega                    By:/s/ Roberto Pelaez   /s/ Gregory Roll
--------------------------------        ---------------------------------------
Print Name: Miriana Ortega            Print Name: Roberto Pelaez   Gregory Roll
          ----------------------                -------------------------------
                                      Title: Director        Associate Director
                                            -----------------------------------

/s/ Teresa Passani
-------------------------------
Print Name: Teresa Passani
           --------------------

STATE OF FLORIDA
COUNTY OF MIAMI-DADE

         The foregoing instrument was acknowledged before me this 4th day of
December, 2001 by Roberto Pelaez and Gregory Roll, as Director and Associate
Director of Barclays Bank, P.L.C., on behalf of the bank. He/she is personally
known to me or has produced _0___________________ (type of identification) as
identification.

                                             /s/ Idalia Vazquez
                                             ------------------
                                              NOTARY PUBLIC, STATE OF FLORIDA

                                             Idalia Vazquez, #CC 629322,
                                             Expires March 27, 2001
                                             ----------------------------------
                                             (Print, Type or Stamp Commissioned
                                             Name of Notary Public)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00020-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00020-of-00352.parquet"}]]