Document:

Exhibit 10.18

 

August
14, 2006

 

George
W. Buckley

President
and Chief Executive Officer

 

Re:          Amendment to Employment Agreement

 

Dear
Mr. Buckley:

 

This
letter will serve as an amendment to the Employment Agreement (hereinafter “Agreement”)
between 3M and you dated December 6, 2005.

 

Section
6.8 of the Agreement is revised to read as follows, effective immediately:

 

6.8           Relocation Expenses.  The Company shall pay Executive’s reasonable
expenses related to the relocation of his primary residence to the Minneapolis-St.
Paul, Minnesota area, in accordance with Company’s relocation policy applicable
to senior executives, including expenses of periodic travel between Executive’s
current primary residence and Minneapolis-St. Paul and reasonable temporary
living expenses for the Executive and his family for a period beginning on the
Commencement Date and ending on June 30, 2007; provided, however, that such
policy’s requirement that the move be completed within 12 months shall be
replaced with a requirement that the move be completed no later than June 30,
2007.  The relocation payments shall also
include provision for the Company to purchase one of Executive’s residences in
Illinois and Minnesota as provided below. 
If any payment of relocation expenses (other than payments with respect
to the purchase of one of Executive’s residences) is subject to Taxes, the
Company shall pay Executive a Tax Gross-Up Payment with respect to such
taxes.  During the Employment Period,
Executive shall have the one-time right to elect to have the Company purchase
one of his residences in Illinois and Minnesota as described below.  In order to exercise this right, Executive
shall give the Company 120 days’ advance written notice of his election to have
the Company purchase such residence and shall immediately take such steps as
are practicable to sell such residence at then-prevailing value.  In the event Executive does not sell such
residence within 120 days after giving such written notice the Company shall
purchase, or cause such residence to be purchased, at the then-prevailing value
as determined by an appraiser mutually agreed upon by the Company and the
Executive for this purpose.  The purchase
shall be on such terms and conditions as are generally contained in
transactions of such nature.

 

All
other terms and conditions of the Agreement shall remain unchanged and in full
force and effect.

 

If
this Amendment is satisfactory to you, please indicate your agreement by
signing in the space provided below.

 

Sincerely,

 

3M COMPANY

 

 

	
  By

  	
  /s/

  	
  Vance D. Coffman

  	
   

  
	
   

  	
   

  	
  Vance D. Coffman

  	
   

  
	
   

  	
   

  	
  Director and Chairman, Compensation Committee

  
	
   

  	
   

  	
   

  	
   

  
	
  AGREED TO AND ACCEPTED THIS 14TH DAY OF AUGUST, 2006

  
	
   

  
	
   

  	
  /s/

  	
  George
  W. Buckley

  	
   

  
	
   

  	
   

  	
  George
  W. BuckleyExhibit
4.01

[FACE OF NOTE]

Unless this certificate is presented by an authorized
representative of The Depository Trust Company (55 Water Street, New York, New
York) to the issuer or its agent for registration of transfer, exchange or
payment, and any certificate issued is registered in the name of Cede & Co.
or such other name as requested by an authorized representative of The
Depository Trust Company and any payment is made to Cede & Co., ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL since the registered owner hereof, Cede & Co., has an interest
herein.

 

	
  REGISTERED

  	
  CUSIP: 22541FEF9

  
	
   

  	
   

  
	
   

  	
   

  
	
  NO. 1

  	
  PRINCIPAL AMOUNT: $967,000

  

CREDIT SUISSE
(USA), INC.

Currency-Linked Securities Linked to the
Value of a Global Currency Basket

due October 26, 2007

CREDIT SUISSE (USA), INC., a Delaware corporation (the
“Company”, which term includes any successor corporation under the Indenture
hereinafter referred to), for value received, hereby promises to pay to Cede
& Co., or registered assigns, at the office or agency of the Company in New
York, New York, the Redemption Amount (as defined on the reverse hereof) on the
Maturity Date (as defined on the reverse hereof).

Reference is hereby made to the further provisions of
this Note set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

This Note shall not be valid or become obligatory for
any purpose until the certificate of authentication hereon shall have been
manually signed by the Trustee under the Indenture referred to on the reverse
hereof.

This Note will not pay
interest.

 

 F-1
 

 

 

IN WITNESS WHEREOF, the
Company has caused this Note to be duly executed under its corporate seal.

	
  

  	
  CREDIT SUISSE (USA), INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  [SEAL]

  	
  By:

  	
  /s/ Peter Feeney

  	
   

  
	
   

  	
   

  	
  Name: Peter Feeney

  
	
   

  	
   

  	
  Title: Authorized Signatory

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  CREDIT SUISSE (USA), INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Grace Koo

  	
   

  
	
   

  	
   

  	
  Name: Grace Koo

  
	
   

  	
   

  	
  Title: Authorized Signatory

  

CERTIFICATE OF
AUTHENTICATION

This is one of the Securities of the series designated
therein referred to in the within-mentioned Indenture.

Dated:  October
27, 2006

	
  

  	
  THE BANK OF NEW YORK,

  
	
   

  	
  as successor Trustee to

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  JPMORGAN CHASE, N.A.,

  
	
   

  	
  as Trustee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Ignazio Tamburello

  	
   

  
	
   

  	
   

  	
  Name: Ignazio Tamburello

  
	
   

  	
   

  	
  Title: Authorized Signatory

  

 

 F-2

 

[REVERSE OF NOTE]

CREDIT SUISSE
(USA), INC.

Currency-Linked Securities Linked to the Value of a Global Currency Basket

due October 26, 2007

This Note is one
of a duly authorized issue of debentures, notes, bonds or other evidences of
indebtedness of the Company (the “Securities”) of the series hereinafter
specified, all issued or to be issued under and pursuant to a senior indenture,
dated as of June 1, 2001 (the “Indenture”), between the Company and the Bank of
New York (the “Trustee”), as successor Trustee to JPMorgan Chase Bank, to which
Indenture and all indentures supplemental thereto reference is hereby made for
a description of the rights, limitations of rights, obligations, duties and
immunities thereunder of the Trustee, the Company, and the Holders of the
Securities.  The Securities may be issued
in one or more series, which different series may be issued in various
aggregate principal amounts, may mature at different times, may bear interest
(if any) at different rates, may be subject to different redemption provisions
(if any), may be subject to different sinking, purchase or analogous funds (if
any) and may otherwise vary as provided in the Indenture.  This Note is one of a series designated as
the Currency-Linked Securities Linked to
the Value of a Global Currency Basket due October 26, 2007 (the “Note”).

This Note will not pay interest.

This Note is payable in the manner, with the effect
and subject to the conditions provided in the Indenture.

If a payment date is not a Business Day as defined in
the Indenture at a place of payment, payment may be made at that place on the
next succeeding day that is a Business Day, and no interest shall accrue for
the intervening period.

The Indenture provides that, without prior notice to
any Holders, the Company and the Trustee may amend the Indenture and the
Securities of any series with the written consent of the Holders of a majority
in principal amount of the outstanding Securities of all series affected by
such amendment (all such series voting as one class), and the Holders of a
majority in principal amount of the outstanding Securities of all series
affected thereby (all such series voting as one class) may waive future
compliance by the Company with any provision of the Indenture or the Securities
of such series by written notice to the Trustee; provided that, without the
consent of each Holder of the Securities of each series affected thereby, an
amendment or waiver, including a waiver of past defaults, may not: (i) extend
the stated maturity of the Principal of, or any sinking fund obligation or any
installment of interest on, such Holder’s Security, or reduce the principal
amount thereof or the rate of interest thereon (including any amount in respect
of original issue discount), or any premium payable with respect thereto, or
adversely affect the rights of such Holder under any mandatory redemption or
repurchase provision or any right of redemption or repurchase at the option of
such Holder, or reduce the amount of the Principal of an Original Issue Discount
Security that would be due and payable upon an acceleration of the maturity
thereof or the amount thereof provable in bankruptcy, or change any place of
payment where, or the currency in which, any Security of such series or any
premium or the interest thereon is payable, or impair the right to institute
suit for the

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enforcement of any such
payment on or after the due date therefor; (ii) reduce the percentage in
principal amount of outstanding Securities of the relevant series the consent
of whose Holders is required for any such supplemental indenture, for any
waiver of compliance with certain provisions of the Indenture or certain
Defaults and their consequences provided for in the Indenture; (iii) waive a
Default in the payment of Principal of or interest on any Security of such
Holder; or (iv) modify any of the provisions of the Indenture governing
supplemental indentures with the consent of Securityholders except to increase
any such percentage or to provide that certain other provisions of the Indenture
cannot be modified or waived without the consent of the Holder of each
outstanding Security affected thereby.

The Indenture provides that, subject to certain
conditions, the Holders of at least a majority in principal amount (or, if any
Securities are Original Issue Discount Securities, such portion of the
Principal as is then accelerable) of the outstanding Securities of all series
affected (voting as a single class), by notice to the Trustee, may waive an
existing Default or Event of Default with respect to the Securities of such
series and its consequences, except a Default in the payment of Principal of or
interest on any Security or in respect of a covenant or provision of the
Indenture which cannot be modified or amended without the consent of the Holder
of each outstanding Security affected. 
Upon any such waiver, such Default shall cease to exist, and any Event
of Default with respect to the Securities of such series arising therefrom
shall be deemed to have been cured, for every purpose of the Indenture; but no
such waiver shall extend to any subsequent or other Default or Event of Default
or impair any right consequent thereto.

The Indenture provides that a series of Securities may
include one or more tranches (each a “tranche”) of Securities, including
Securities issued in a Periodic Offering. 
The Securities of different tranches may have one or more different
terms, including authentication dates and public offering prices, but all the
Securities within each such tranche shall have identical terms, including
authentication date and public offering price. 
Notwithstanding any other provision of the Indenture, subject to certain
exceptions, with respect to sections of the Indenture concerning the execution,
authentication and terms of the Securities, redemption of the Securities,
Events of Default of the Securities, defeasance of the Securities and amendment
of the Indenture, if any series of Securities includes more than one tranche,
all provisions of such sections applicable to any series of Securities shall be
deemed equally applicable to each tranche of any series of Securities in the
same manner as though originally designated a series unless otherwise provided
with respect to such series or tranche pursuant to a board resolution or a supplemental
indenture establishing such series or tranche.

No reference herein to the Indenture and no provision
of this Note or of the Indenture shall alter or impair the obligation of the
Company, which is absolute and unconditional, to pay the Redemption Amount of
this Note in the manner, at the place, at the time and in the coin or currency
herein prescribed.

The Securities are issuable initially only in
registered form without coupons in denominations of $10,000 and any integral
multiples of $1,000 in excess of that amount at the office or agency of the
Company in the Borough of Manhattan, The City of New York, and in the manner
and subject to the limitations provided in the Indenture.

 R-2
 

 

The Securities will not be redeemable at the option of
the Company prior to maturity.

The Company will not be required to pay any Additional
Amounts on the Securities.

Maturity
Date

The Maturity Date of the Securities is October 26, 2007 (the “Maturity Date”);
however, if a market disruption event exists in respect of any of the exchange
rates on the valuation date, as determined by the Calculation Agent, the
Maturity Date will be the later of October
26, 2007, and the fifth business day following the day as of which the
final level of each of the basket components has been calculated.

Redemption
Amount

The Company will redeem the Securities at maturity for
a redemption amount based on the difference between the initial basket level
and the final basket level (the “redemption amount”).  How the redemption amount will be calculated
depends on whether the final basket level is greater than or equal to or less
than the initial basket level and, if less, by how much:

If the final basket level is less than or equal to
1.00 and greater than or equal to 0.9125, the redemption amount will equal
1.0875 times the principal amount of the Securities.  If the final basket level is less than
0.9125, the redemption amount will equal the product of (i) the principal
amount of the Securities and (ii) 2.0 minus the final basket level.  If the final basket level is greater than
1.00, the redemption amount will equal the principal amount of the Securities.

For purposes of calculating the redemption amount, the
final basket level on the valuation date will be equal to the sum of:

(i) the product of:

(x) .25, the weighting of
the USD/BRL (Brazilian real) spot rate component in the basket, multiplied by

(y) (A) the final level
for such exchange rate, which equals the level of the USD/BRL spot rate,
expressed as the number of Brazilian reals per one U.S. dollar, calculated by
referencing the U.S. dollar/Brazlian real exchange rate as published on Reuters
page “PTAX” at approximately 6:00 p.m. New York time divided by (B) the initial
level;

plus

(ii) the product of:

 R-3
 

 

(x) .25, the weighting of
the USD/MXN (Mexican peso) spot rate component in the basket, multiplied by

(y) (A) the final level
for such exchange rate, which equals the level of the USD/MXN spot rate,
expressed as the number of Mexican pesos per one U.S. dollar, calculated by
referencing the U.S. dollar/Mexican peso exchange rate as published on Reuters
page “WMRSPOT10” at approximately 4:00 p.m. London time divided by (B) the
initial level;

plus

(iii) the product of:

(x) .25, the weighting of
the USD/RUB (Russian ruble) spot rate component in the basket, multiplied by

(y) (A) the final level
for such exchange rate, which equals the level of the USD/RUB spot rate,
expressed as the number of Russian rubles per one U.S. dollar, calculated by
referencing the U.S. dollar/Russian ruble exchange rate as published on Reuters
page “EMTA” at approximately 12:30 p.m. Moscow time divided by (B) the initial
level;

plus

(iv) the product of:

(x) .25, the weighting of
the USD/TRY (Turkish lira) spot rate component in the basket, multiplied by

(y) (A) the final level
for such exchange rate, which equals the level of the USD/TRY spot rate,
expressed as the number of Turkish lira per one U.S. dollar, calculated by
referencing the U.S. dollar/Turkish lira exchange rate as published on Reuters
page “WMR” at approximately 4:00 p.m. London time divided by (B) the initial
level.

The “initial basket level” equals 1.0.

The “initial level” for each currency will equal the
U.S. dollar exchange spot rate of such currency on October 20, 2006 at 12:00
p.m. New York time, expressed as the number of units per one U.S. dollar.

The “valuation date” will be October 24, 2007;
however, if the calculation agent determines that on the valuation date a
market disruption event exists in respect of a basket component, then the
valuation date will be postponed to the first succeeding business day on which
the calculation agent determines that no market disruption event exists, unless
the calculation agent determines that a market disruption event exists on each
of the five business days immediately following the valuation date.  In that case, the fifth business day
following the scheduled final valuation date will be deemed to be the valuation
date of such basket component

 R-4
 

 

notwithstanding the
existence of a market disruption event, and the calculation agent will
determine the level for such final valuation date on that fifth succeeding
business day.

A “business day” is any day other than a day on which
banking institutions (including for dealings in foreign exchange in accordance
with the market practice of the foreign exchange market) in the City of New
York, New York are generally not authorized or obligated by law or executive
order to close.

Market
Disruption Events

A “market disruption event” is, in respect of any
exchange rate, the occurrence on any business day or any number of consecutive
business days of any one or more of the following circumstances: (a) the
termination or suspension of, or material limitation or disruption for at least
two hours in the trading of a currency or a futures contract thereon included
in the basket that prevents the relevant exchange on which such currency is
traded from establishing an official settlement price for such currency or
contract as of a regularly scheduled settlement time; (b) the settlement price for
any currency or a futures contract thereon included in the basket is a “limit
price,” which means that such settlement price for a day has increased or
decreased from the previous day’s settlement price by the maximum amount
permitted under applicable exchange rules; or (c) failure by the applicable
exchange or other price source to announce or publish the settlement price for
any currency or a futures contract thereon included in the basket.

If the calculation agent determines that a market
disruption event exists in respect of an exchange rate on a valuation date (the
“basket components”), then that valuation date for such basket component will
be postponed to the first succeeding business day for that basket component on
which the calculation agent determines that no market disruption event exists
in respect of such basket component, unless in respect of the final valuation
date the calculation agent determines that a market disruption event exists in
respect of such basket component on each of the five business days immediately
following the scheduled valuation date. 
In that case, (a) the fifth succeeding business day following the
scheduled valuation date will be deemed to be the valuation date for such
basket component, notwithstanding the market disruption event in respect of
such basket component, and (b) the calculation agent will determine the closing
level for such basket component on that deemed final valuation date in a
commercially reasonable manner.  The
valuation date for each basket component not affected by a market disruption
event shall be the scheduled valuation date.

In the event that a market disruption event exists in
respect of a basket component on the final valuation date, the maturity date of
the Securities will be the later of October 26, 2007, and the fifth business
day following the day as of which the closing level on the final valuation date
for each basket component has been calculated. 
No interest or other payment will be payable because of any such
postponement of the maturity date.

All determinations made by the calculation agent will
be at the sole discretion of the calculation agent and will be conclusive for
all purposes and binding on us and the beneficial owners of the Securities,
absent manifest error.

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Events of Default and Acceleration

In case an Event of Default (as defined in the
Indenture) with respect to the Securities shall have occurred and be
continuing, the amount declared due and payable upon any acceleration of the
Securities (in accordance with the acceleration provisions set forth in the
prospectus) will be determined by the calculation agent and will equal, for
each security, the arithmetic average, as determined by the calculation agent,
of the fair market value of the Securities as determined by at least three but
not more than five broker-dealers (which may include Credit Suisse Securities
(USA) LLC or any of the Company’s other subsidiaries or affiliates) as will
make such fair market value determinations available to the calculation agent.

The Company, the Trustee and any agent of the Company
or the Trustee may deem and treat the registered Holder hereof as the absolute
owner of this Note (whether or not this Note shall be overdue and
notwithstanding any notation of ownership or other writing hereon) for the
purpose of receiving payment of, or on account of, the redemption amount
hereof, and for all other purposes, and neither the Company nor the Trustee nor
any agent of the Company or the Trustee shall be affected by any notice to the
contrary.

No recourse under or upon any obligation, covenant or
agreement contained in the Indenture or any indenture supplemental thereto or
in any Note, or because of any indebtedness evidenced thereby, shall be had
against any incorporator as such, or against any past, present or future
stockholder, officer, director or employee, as such, of the Company or of any
successor, either directly or through the Company or any successor, under any
rule of law, statute or constitutional provision or by the enforcement of any
assessment or by any legal or equitable proceeding or otherwise, all such
liability being expressly waived and released by the acceptance hereof and as
part of the consideration for the issue hereof.

The calculation agent for the Securities (the “Calculation
Agent”) is Credit Suisse International. 
The calculations and determinations of the Calculation Agent will be
final and binding upon all parties (except in the case of manifest error).  The Calculation Agent will have no
responsibility for good faith errors or omissions in its calculations and
determinations, whether caused by negligence or otherwise.

Terms used herein that are defined in the Indenture
and not otherwise defined herein shall have the respective meanings assigned
thereto in the Indenture.

The laws of the State of New York (without regard to
conflicts of laws principles thereof) shall govern this Note.

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FOR VALUE RECEIVED, the
undersigned hereby sell(s), assign(s) and transfer(s) unto

	
  [PLEASE INSERT SOCIAL SECURITY OR OTHER
  IDENTIFYING NUMBER OF ASSIGNEE]

  
	
   

  
	
   

  
	
  PLEASE PRINT OR TYPE NAME AND ADDRESS, INCLUDING ZIP
  CODE, OF ASSIGNEE]

  
	
   

  
	
  the within Note and all rights thereunder, hereby
  irrevocably constituting and appointing

  
	
   

  
	
   

  	
   

  	
    Attorney to 

  
	
  transfer such Note on the books of the Issuer, with
  full power of substitution in the premises.

  
	
   

  	
   

  
	
   

  	
  Signature:

  
	
   

  	
   

  
	
  Dated:

  	
   

  	
   

  	
  NOTICE: The signature to this assignment 

  
	
   

  	
   

  	
  must correspond with the name as written upon the
  face of the within Note in every particular without alteration or enlargement
  or any change whatsoever.

  
					

 

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