Document:

EXHIBIT 10.18a

 

AMENDMENT NO. 1 TO FACILITY AGREEMENT

 

AMENDMENT dated as of February 17, 2005 to the
€450,000,000 Facility Agreement dated as of November 29, 2004 (the “Facility Agreement”) among Praxair
Euroholding, S.L., Praxair, Inc., the Lenders party thereto, Citigroup Global
Markets, Inc., as Syndication Agent and ABN AMRO Bank N.V., as Administrative Agent and Documentation Agent.

 

W I T N E S S E T H
:

 

WHEREAS, the parties hereto desire to amend the
Facility Agreement to conform certain of its terms with the corresponding terms
of the $1,000,000,000 Credit Agreement dated December 23, 2004 among
Praxair, Inc., the eligible subsidiaries referred to therein, the lenders
listed therein, and the agents listed therein, and

 

WHEREAS, the parties hereto, for the avoidance of
doubt, desire to confirm the amendments to the Facility Agreement that have
been effected through the operation of Section 10.05(c),

 

NOW, THEREFORE, the parties hereto agree as follows:

 

SECTION 1. 
Defined Terms; References.  Unless otherwise specifically defined
herein, each term used herein that is defined in the Facility Agreement has the
meaning assigned to such term in the Facility Agreement.  Each reference to “hereof”, “hereunder”, “herein”,
“hereby” and each other similar reference and each reference to “this Agreement”
and each other similar reference contained in the Facility Agreement shall,
after this Amendment becomes effective, refer to the Facility Agreement as
amended hereby.

 

SECTION 2. 
Amendments.  (a) The definition of “Continuing Director”
is hereby amended by replacing “two-thirds” with “a majority”.

 

(b)                                  The following definition is hereby added
to Section 1.01 in its appropriate alphabetical position:

 

“Material Adverse Effect” means a
material adverse effect on (i) the business, financial position or results of
operations of the Guarantor and its Consolidated Subsidiaries, considered as a
whole, which could reasonably be expected to materially and adversely affect
the ability of the Guarantor to perform its obligations under this Agreement or
(ii) the rights and remedies of the Lender Parties under this Agreement.

 

(c)                                  The definition of “Wholly-Owned
Consolidated Subsidiary” is hereby amended by (i) deleting “with respect to any
Person”, (ii) replacing “directors’ qualifying shares” with “for qualifying
shares held by directors or foreign nationals in accordance with applicable law”
and (iii) replacing “directly or indirectly owned by such Person” with “owned
by the Guarantor or one or more other Wholly-Owned Consolidated Subsidiaries”.

 

(d)                                  Section 2.15(a) is hereby amended by
deleting the last two sentences thereof.

 

(e)                                  Section 2.15(b) is hereby amended by
replacing “If any Lender party to this Agreement shall not elect to increase
its Revolving Credit Commitment pursuant to subsection (a) of this
Section,

 

 

the Borrower may, within 21 days of the Revolving
Credit Lenders’ response,” with “To effect such an increase, the Borrower may”.

 

(f)                                    Section 2.15(c)(i) is hereby amended
by inserting “reasonably” after “substance”.

 

(g)                                 Section 4.01(a) is hereby amended by
(i) inserting “(i)” after “The Borrower”, (ii) inserting “under the laws of
Spain” after “validly existing”, (iii) inserting “(ii) is” before “in good
standing”, (iv) inserting “(iii)” before “has all powers” and (v) inserting “,
except in the case of clause (ii) and (iii) to the extent the failure to do so
could not reasonably be expected to have a Material Adverse Effect” after “conducted”.

 

(h)                                 Section 4.01(b) is hereby amended by
(i) inserting “(i)” after “The Guarantor”, (ii) inserting “(ii) is” before “in
good standing”, (iii) inserting “(iii)” before “has all corporate powers” and (iv)
inserting “, except in the case of clause (ii) and (iii) to the extent the
failure to do so could not reasonably be expected to have a Material Adverse
Effect” after “conducted”.

 

(i)                                    Section 4.02 is amended by inserting
“except, in each case, as could not reasonably be expected to have a Material
Adverse Effect” after “Restricted Subsidiaries” at the end of such Section.

 

(j)                                    Section 4.03 is hereby amended by
inserting “, except as the same may be limited by bankruptcy, insolvency or
similar laws affecting creditors’ rights generally and by general principles of
equity” after “Obligor”.

 

(k)                                Sections 4.04(a) and (b) are hereby
amended by (i) inserting “in all material respects” before each instance of “in
conformity” and (ii) inserting “U.S.” before each instance of “generally”.

 

(l)                                    Section 4.04(b) is hereby amended by
inserting “and the absence of footnotes” after “adjustments”.

 

(m)                              Section 4.04(c) is hereby amended by
inserting “reasonably be expected to” after “could”.

 

(n)                                 Section 4.04(d) is hereby amended by
inserting “, in all material respects,” after “fairly present”.

 

(o)                                  Section 4.05 is hereby amended by
deleting “or affecting”.

 

(p)                                  Section 4.06 is hereby amended by
inserting “except as could not reasonably be expected to have a Material
Adverse Effect,” after each instance of “After it has become a member of the
ERISA Group,” and Section 4.06(iii) is hereby amended by deleting “and
aggregate withdrawal liabilities not in excess of $5,000,000 at any one time
outstanding”.

 

(q)                                  Section 4.07 is hereby amended by (i)
replacing “conducts reviews of” with “considers” and (ii) replacing “On the
basis of this review” with “Based on the foregoing”.

 

(r)                                  Section 4.08 is hereby amended by
inserting “, except to the extent the failure to do so could not reasonably be
expected to have a Material Adverse Effect” after “conducted”.

 

(s)                                  Section 4.10 is hereby amended by (i)
replacing “None of the material” with “As of the Closing Date, the written
material theretofore”, (ii) replacing “contains, or contained at the time so
furnished,” with “, taken as a whole, did not contain”, (iii) replacing “omits,
or omitted at the time so furnished” with “omit” and (iv) inserting “; provided that to the extent any such written material was
based on or constitutes a forecast or projection, each Obligor represents only
that such material was

 

 

prepared in good faith based on assumptions it believed
to be reasonable at the time such material was prepared” after “misleading”.

 

(t)                                    Section 5.01 is hereby amended by
replacing “(and, in the case of a certificate delivered pursuant to clause (f)
below, to each Lender)” with “(which shall promptly forward to the Lenders)”.

 

(u)                                 Sections 5.01(a) and (b) are hereby
amended by deleting each instance of “as promptly as practicable and in any
event”.

 

(v)                                   Section 5.01(a) is hereby amended by
replacing “accounting principles” with “auditing standards”.

 

(w)                                Section 5.01(b) is hereby amended by
inserting “in all material respects” after “fairness of presentation”.

 

(x)                                  (i) Section 5.01(c)(i) is hereby
amended by inserting “and” after “5.06;”; (ii) Section 5.01(c)(ii) is
hereby deleted; and (iii) Section 5.01(c)(iii) is hereby renumbered Section 5.01(c)(ii).

 

(y)                                  Section 5.01(i) is hereby amended by
inserting “within five days after any officer of any Obligor obtains knowledge
thereof,” before “if and when”.

 

(z)                                  The last paragraph of Section 5.01
is hereby amended by replacing “notice to the Lenders” with “notice to the
Administrative Agent”.

 

(aa)                            Subsections 5.01(c) through 5.01(k) are
hereby renumbered as subsections 5.01(d) through 5.01(l), and all
cross-references to such subsections are hereby amended accordingly.

 

(bb)                            Section 5.01 is hereby amended by
inserting as the new Section 5.01(c) “promptly upon the incurrence of Debt
in connection with an acquisition that caused the Leverage Ratio to exceed 65%,
a certificate of the principal financial officer, principal accounting officer,
treasurer or comptroller of the Guarantor, or a person designated in writing by
either of the foregoing persons, setting forth in reasonable detail the
calculations required to establish whether the Guarantor was in compliance with
Section 5.05;”.

 

(cc)                            Section 5.02(a) is hereby amended by
inserting “, and except as could not reasonably be expected to have a Material
Adverse Effect” after “excepted”.

 

(dd)                            Section 5.02(b) is hereby amended by
replacing “at coverage levels that are at least as high as the coverage levels
that” with “covering such risks as”.

 

(ee)                            Section 6.01(d) is hereby amended by
replacing “20” with “30”.

 

(ff)                                Section 6.01(e) is hereby amended by
(i) replacing “incorrect” with “false or misleading” and (ii) replacing “materially
adverse” with “material”.

 

(gg)                          Notwithstanding Section 10.05(c) of
the Facility Agreement, Section 10.06 shall remain in its original form.

 

SECTION 3. 
Confirmation Of Automatic Amendments. 
For the
avoidance of doubt, the parties hereby confirm that the following amendments to
the Facility Agreement have been effected through the operation of Section 10.05(c):

 

 

(a)                                  The definition of “Consolidated Book Net
Worth” was amended by (i) adding “determined as of such date” after “Consolidated
Subsidiaries”, (ii)  deleting “(i)”, (iii)
replacing “March 31, 2000” with “September 30, 2004” and (iv)  deleting clauses (ii) and (iii).

 

(b)                                  The definition of “Debt” was amended by
deleting from clause (v) thereof the text “contingent or non-contingent” and “paid
or to be”.

 

(c)                                  The definition of “Leverage Ratio” was
amended by (i) inserting “, at any time,” after “means”, (ii) inserting “the
sum of Consolidated Total Debt plus” after “(y)” and (iii) inserting “at such
time” after “Worth”.

 

(d)                                  The following definitions were added to Section 1.01
in their appropriate alphabetical positions:

 

“Material Debt” means Debt (other than
the Loans) of the Guarantor and/or one or more Material Subsidiaries, arising
in one or more related or unrelated transactions, in an aggregate principal
amount exceeding $150,000,000.

 

“Material Subsidiary” means (i) any one
or more Restricted Subsidiaries (but, solely for purposes of paragraphs (h) and
(i) of Section 6.01, only if such Subsidiaries have combined Net Tangible
Assets of at least $150,000,000) and (ii) any one or more other Subsidiaries
having combined Net Tangible Assets of more than $500,000,000.

 

“Net Tangible Assets” means, as to any
Person, its gross assets, net of depreciation and other proper reserves, less
its goodwill and other intangible assets.

 

(e)                                  The definition of “Material Plan” was
amended by replacing “$25,000,000” with “$50,000,000”.

 

(f)                                    Section 5.03(b) was amended by
replacing each instance of “corporation” with “Person”.

 

(g)                                 Sections 5.03(c) and (d) were amended by
replacing each instance of “90” with “180”.

 

(h)                                 Section 5.03(g) was amended by
inserting “other than improvements thereon” after “assets”.

 

(i)                                    Section 5.03(h) was amended by
replacing “$400,000,000” with “$600,000,000”.

 

(j)                                    Sections 5.03(g) and (h) were renumbered
as Sections 5.03(i) and (j), respectively, and all cross-references to such
subsections were amended accordingly.

 

(k)                                Section 5.03 was amended by
inserting as the new Section 5.03(g) “Liens resulting from judgments, provided that the execution or other enforcement of such
Liens is effectively stayed and that the claims secured thereby are being
actively contested in good faith and by appropriate proceedings, and for which
adequate reserves to the extent required by and in conformity with U.S.
generally accepted accounting principles are maintained on the books of the
Guarantor or a Restricted Subsidiary, as the case may be;”.

 

(l)                                    Section 5.03 was amended by
inserting as the new Section 5.03(h) “Liens on property of any Restricted
Subsidiary in favor of one or more of the Guarantor or any Restricted
Subsidiary;”.

 

(m)                              Section 5.06 was amended by
replacing “The Leverage Ratio will not exceed at any time

 

 

1.9:1.” with:

 

(a)  The Leverage Ratio will not exceed 65% (the “Maximum Leverage Ratio”) as of any Compliance Date; provided
that if the Leverage Ratio shall exceed 65% solely by reason of the incurrence
of Debt in connection with an acquisition, and at the time and after giving
effect thereto no other Default existed, then the Maximum Leverage Ratio shall
be 70% for a period of 180 days following the date of such incurrence of Debt
(the “Increase Date”).

 

(b)  For purposes of the foregoing, “Compliance Date” means (i) the last day of each fiscal
quarter of the Guarantor, measured when financial statements are or are
required to be delivered pursuant to Section 5.01(a) or (b), and (ii) if
an Increase Date occurs, (x) such Increase Date; provided
that for the purpose of this clause (x) the Leverage Ratio shall be calculated
using the Consolidated Book Net Worth as of the end of the latest fiscal month
for which internal financial statements are available, and (y) the last day of
each fiscal month of the Guarantor falling within the period of 180 days
following such Increase Date, measured, in the case of this clause (y), when
internal financial statements are available for such fiscal month.

 

(n)                                 Section 5.05 was deleted and
Sections 5.06 and 5.07 were renumbered as Sections 5.05 and 5.06, respectively.

 

(o)                                  Cross-references to Section 5.05
were not amended, cross-references to Section 5.06 were amended to refer
to Section 5.05 and cross-references to Section 5.07 were amended to
refer to Section 5.06.

 

(p)                                  Section 6.01(f) was amended by (i)
inserting “Material” before “Subsidiary”, (ii) inserting “principal” before “payment”,
(iii) inserting “Material” before “Debt” and (iv) replacing “having an
aggregate principal amount outstanding at such time equal to or exceeding
$100,000,000 (other than the Loans) when due or within” with “when due after
giving effect to”.

 

(q)                                  Section 6.01(g) was amended by (i)
inserting “Material” before the first instance of “Debt” and (ii) deleting “having
an aggregate principal amount outstanding at such time equal to or exceeding
$100,000,000 of the Guarantor or any Subsidiary of the Guarantor or enables
(or, with the giving of notice or lapse of time or both, would enable) the
holder of such Debt or any Person acting on such holder’s behalf to accelerate
the maturity thereof or terminate its commitment in respect thereof”.

 

(r)                                  Section 6.01(h) was amended by (i)
inserting “Material” before “Subsidiary” and (ii) deleting the proviso.

 

(s)                                  Section 6.01(i) was amended by (i)
inserting “Material” before each instance of “Subsidiary” and (ii) deleting the
proviso.

 

(t)                                    Section 6.01(j)(i) was amended by (i)
replacing “aggregating in excess of $25,000,000 which” with “that” and (ii)
inserting “and such failure could be reasonably expected to have a Material
Adverse Effect” after “Title IV of ERISA”.

 

(u)                                 Section 6.01(j)(v) was amended by
replacing “in excess of $25,000,000” with “, which withdrawal or default could
reasonably be expected to have a Material Adverse Effect”.

 

(v)                                   Section 6.01(k) was amended by (i)
inserting “final” before “judgment”, (ii) replacing “$50,000,000” with “$150,000,000
(net of amounts covered by insurance)”, (iii) inserting “Material” before “Subsidiary”,
(iv) replacing “and shall remain unsatisfied,” with “and such judgment or order
is

 

 

not bonded, stayed, discharged or otherwise paid or
satisfied” and (v) replacing each instance of “ten” with “30”.

 

(w)                                Section 10.05(c) was deleted.

 

SECTION 4.  Representations of Obligors.  The
Obligors represent and warrant that (a) the representations and warranties of
the Obligors set forth in Article 4 of the Facility Agreement will be true
on and as of the Amendment Effective Date, and (b) no Event of Default will
have occurred and be continuing on such date.

 

SECTION 5.  Effect of Amendments. 
Except as expressly set forth herein, the amendments contained herein
shall not constitute a waiver or amendment of any term or condition of the
Facility Agreement, and all such terms and conditions shall remain in full
force and effect and are hereby ratified and confirmed in all respects.

 

SECTION 6. 
Governing Law.  This Amendment shall be governed by and
construed in accordance with the laws of the State of New York.

 

SECTION 7. 
Counterparts.  This Amendment may be signed in any
number of counterparts, each of which shall be an original, with the same
effect as if the signatures thereto and hereto were upon the same instrument.

 

SECTION 8. 
Effectiveness.  This Amendment shall become effective as
of the date hereof (the “Amendment Effective Date”),
subject to the condition that the Administrative Agent shall have received from
each of the Borrower, the Guarantor and Lenders comprising the Required Lenders
a counterpart hereof signed by such party or facsimile or other written
confirmation (in form satisfactory to the Administrative Agent) that such party
has signed a counterpart hereof.

 

[signature pages follow]

 

 

IN WITNESS WHEREOF, the parties hereto have caused
this Amendment to be duly executed as of the date first above written.

 

	
   

  	
  PRAXAIR EUROHOLDING, S.L.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
  PRAXAIR, INC.

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

 

	
   

  	
  ABN AMRO BANK N.V., as Administrative Agent

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

 

LENDERS:

 

	
   

  	
  ABN AMRO BANK N.V.

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

 

	
   

  	
  CITIBANK INTERNATIONAL PLC

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

 

	
   

  	
  BANCO SANTANDER CENTRAL
  HISPANO S.A.

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

 

	
   

  	
  BANK OF AMERICA, N.A. SUCURSAL EN ESPAÑA

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

 

	
   

  	
  BANK OF TOKYO-MITSUBISHI, LTD.

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

 

	
   

  	
  DEUTSCHE BANK AG LONDON

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

 

	
   

  	
  HSBC BANK PLC

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

 

	
   

  	
  JPMORGAN CHASE BANK, N.A.

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

 

	
   

  	
  SCOTIABANK EUROPE PLC.

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

 

	
   

  	
  SOCIÉTÉ GÉNÉRALE

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:Exhibit 10.1

 

Annual
Incentive Arrangements for 2004 and 2005

 

On
February 23, 2005, the Compensation Committee of the Board of Directors (the “Committee”)
of UNOVA, Inc. (the “Company”) approved the payment of bonuses to Named
Executive Officers and other employees for performance in 2004.  The performance goals for those awards were
established in the first quarter of 2004 and the Named Executive Officers were
assigned targets for incentive pay ranging from 50 percent to
100 percent of their annual salaries. 
At the meeting of February 23, 2005, the Committee reviewed the extent
to which the Company and its operating entities had met the previously
established performance goals.

 

The
2004 performance goals for the Chief Executive Officer and other corporate
officers who were not heads of operating divisions were based 70 percent
on the Company achieving the Earnings Before Tax goal and 30 percent on
achieving the Net Capital Utilized as a Percent of Sales goal.  The actual Earnings Before Tax were 106.00 percent
of the goal.  The actual Net Capital
Utilized as a Percent of Sales was 107.10 percent of the goal.  Applying the weighting of 70 percent and 30
percent, respectively, to those factors resulted in awards of 106.33 percent of
the individual targets for the Chief Executive Officer and the other corporate
Named Executive Officers.  Mr. Brady and
Mr. Keane each received a bonus equal to 106.33 percent of his 2004 salary and
Mr. Cohen received a bonus equal to 53.16 percent of his 2004 salary.

 

Goals
for executives and other participants associated with the Automatic Data
Systems segment (“ADS”) were based 70 percent on achieving the Business
Operating Profit goal and 30 percent on achieving the Net Working Assets as a
Percent of Sales goal.  In addition, the
Committee adopted a bonus modifier for ADS for 2004.  The modifier enabled the Committee, in its
discretion, to increase or decrease the earned payout by up to ten percent,
based on the successful implementation of four specifically identified
strategic product and market development programs in 2004.  The actual Business Operating Profit was
122.70 percent of the goal.  The actual
Net Working Assets as a Percent of Sales was 97.50 percent of the goal.  Therefore, the weighted result before
application of the modifier was 115.14 percent of the individual targets.  After considering the outstanding performance
of ADS in the four identified programs, and the long-term benefits that are
expected to result, the Committee increased the payout for ADS participants by
ten percent, to 126.65 percent of their targets.  Mr. Miller received a bonus equal to 101.32
percent of his 2004 salary.

 

For
the executives responsible for the Industrial Automation Systems segment (“IAS”)
as a whole, the goals were based 50 percent on Business Operating Profit and 50
percent on Net Working Assets as a Percent of Sales.  The actual Business Operating Profit achieved
was 59.9 percent of the goal and the actual Net Working Assets as a Percent of
Sales achieved was 115.3 percent of the goal, producing weighted awards of 87.6
percent of the individual targets.  Mr.
Smith received a bonus equal to 78.84 percent of his 2004 salary.

 

The
following table sets out the bonus awards for performance in 2004 to the Named
Executive Officers whose compensation will be reported in the proxy statement
for the 2005 annual meeting of shareholders:

 

 

	
  Name and Title

  	
   

  	
  Bonus
  Amount

  	
   

  
	
  Larry D. Brady

  Chairman, President and Chief Executive Officer

  	
   

  	
  $

  	
  736,213

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Kenneth L. Cohen

  Vice President and Treasurer

  	
   

  	
  104,645

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Michael E. Keane

  Senior Vice President and Chief Financial Officer

  	
   

  	
  385,619

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Thomas O. Miller

  Senior Vice President

  	
   

  	
  335,303

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Robert T. Smith

  Senior Vice President

  	
   

  	
  250,257

  	
   

  
					

 

At
its meeting on February 23, 2005, the Committee also established the
performance goals and individual targets for incentive awards for performance
in 2005.  The performance goals and
weight factors applicable to the Named Executive Officers are as follows:

 

	
  Corporate:

  	
   

  	
  Achievement of Earnings
  Before Tax from Continuing Operations goal, 70 percent

  Achievement of Net Capital Utilized as a Percent of Sales goal, 30 percent

  
	
   

  	
   

  	
   

  
	
  ADS:

  	
   

  	
  Achievement of Business
  Operating Profit goal, 70 percent

  Achievement of Net Working Assets as a Percent of Sales goal, 30 percent

  
	
   

  	
   

  	
   

  
	
  IAS:

  	
   

  	
  Achievement of Business
  Operating Profit goal, 50 percent

  Achievement of Net Working Assets as a Percent of Sales goal, 50 percent

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