Document:

Exhibit 10.1

PRIVATE AND CONFIDENTIAL

Ms Andrea Saia

5 Merchant Square

London

United Kingdom

W2 1AY

27 July 2016

Dear Ms Saia,

Letter of appointment

The board of directors (the "Board") of LivaNova PLC (the "Company") has appointed you as a non-executive director of the Company.

This letter sets out the main terms of your appointment. If you need any more information, please let me know.

By accepting this appointment, you agree that this letter is a contract for services and is not a contract of employment and you confirm that you are not subject to any restrictions which prevent you from holding office as a director.

	
1.

	
APPOINTMENT

	
1.1

	
Subject to the remaining provisions of this letter, your appointment shall commence on 27 July 2016 until the Annual General Meeting ("AGM") following the second full financial year of the Company, subject to the earlier termination in accordance with the Company's articles of association, as amended from time to time (the "Articles"). Either party may terminate your appointment at any time on giving to the other party one month's prior written notice.

	
1.2

	
Your appointment is subject to the Company's Articles. Nothing in this letter shall be taken to exclude or vary the terms of the Articles as they apply to you as a director of the Company.

	
1.3

	
Continuation of your appointment is contingent on your continued satisfactory performance and re-election by the shareholders and any relevant statutory provisions relating to removal of a director. If the shareholders do not re-elect you as a director, or you are removed from office under the Articles, your appointment shall terminate automatically, with immediate effect and without compensation.

	
1.4

	
If the Board, with you abstaining, requests your resignation at any time, you will be deemed to have given notice of your resignation and your resignation will take effect on the date specified

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by the Board.  If that date is before the end of the notice period that would otherwise be given pursuant to clause 1.1 (and you have not been asked to resign as a result of a breach by you of the terms of this Letter), then the Company will make a payment to you of the fees you would have received during the outstanding notice period.

	
1.5

	
Any term renewal is subject to Board review and AGM re-election. Notwithstanding any mutual expectation, there is no right to re-nomination by the Board (or any other committee of the Board).

	
1.6

	
You may be required to serve on one or more Board committees. You will be provided with the relevant terms of reference on your appointment to such committee. You also may be asked to serve as a non-executive director on the board of any of the Company's subsidiaries or joint ventures, or as senior independent director. Any such appointment will be covered in a separate communication.

	
1.7

	
Notwithstanding paragraphs 1.1 to 1.6 above, the Company may terminate your appointment with immediate effect if you have:

	
(a)

	
committed a material breach of your obligations under this letter;

	
(b)

	
committed any serious or repeated breach or non-observance of your obligations to the Company (which includes an obligation not to breach your statutory, fiduciary or common-law duties);

	
(c)

	
been guilty of any fraud or dishonesty or acted in any manner which, in the Company's opinion, brings or is likely to bring you or the Company into disrepute or is materially adverse to the Company's interests;

	
(d)

	
been convicted of an arrestable criminal offence other than a road traffic offence for which a fine or non-custodial penalty is imposed;

	
(e)

	
been declared bankrupt or have made an arrangement with or for the benefit of your creditors, or if you have a county court administration order made against you under the County Court Act 1984;

	
(f)

	
been disqualified from acting as a director; or

	
(g)

	
not complied with the Company's anti-corruption and bribery policy and procedures or the UK Bribery Act 2010 or the US Foreign Corrupt Practices Act 1977.

	
1.8

	
On termination of your appointment, you shall, at the Company's request, resign from your office as director of the Company and any offices you hold in any of the Company's group companies.

	
1.9

	
If matters arise which cause you concern about your role, you should discuss these matters with the chairman or senior independent director. If you have any concerns which cannot be resolved,

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and you choose to resign for that, or any other, reason, you should provide an appropriate written statement to the chairman or the senior independent director for circulation to the Board.

	
2.

	
TIME COMMITMENT

	
2.1

	
You will be expected to devote such time as is necessary for the proper performance of your duties. You will be required to attend quarterly Board meetings, the AGM, at least one site visit a year, Board dinners, meetings with the non-executive directors, meetings with shareholders, meetings forming part of the Board evaluation process and updating and training meetings. Some of these meetings may involve overseas travel. In addition, you will be required to consider all relevant papers before each meeting. Unless urgent and unavoidable circumstances prevent you from doing so, it is expected that you will attend the meetings outlined in this paragraph.

	
2.2

	
You will also be required to serve as a member of the Company's Audit & Compliance Committee and will be expected to devote such time as is necessary for the proper performance of your duties. Any specific responsibilities or terms of reference of the Audit & Compliance Committee will be covered in a separate communication.

	
2.3

	
The nature of the role makes it impossible to be specific about the maximum time commitment. You may be required to devote additional time to the Company in respect of preparation time and ad hoc matters which may arise and particularly when the Company is undergoing a period of increased activity. At certain times it may be necessary to convene additional Board, committee or shareholder meetings.

	
2.4

	
By accepting this appointment, you confirm that, taking into account all of your other commitments, you are able to allocate sufficient time to the Company to discharge your responsibilities effectively. You should obtain the agreement of the chairman before accepting additional commitments that might affect the time you are able to devote to your role as a non-executive director of the Company.

	
2.5

	
You confirm that you that you have disclosed to the Board (and will continue to disclose) all of your other directorships and significant appointments and the amount of time you expect that these appointments will take up.

	
3.

	
ROLE AND DUTIES

	
3.1

	
The Board as a whole is collectively responsible for the success of the Company. The Board's role is to:

	
(a)

	
provide entrepreneurial leadership of the Company within the framework of prudent and effective controls which enable risk to be assessed and managed;set the Company's strategic aims, ensure that the necessary financial and human resources are in place for the Company to meet its objectives and review management performance;

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(b)

	
review management performance; and

	
(c)

	
develop, set and promote the Company's values and standards and ensure that its obligations to its shareholders and others are understood and met.

	
3.2

	
As a non-executive director you shall have the same general legal responsibilities to the Company as any other director. You are expected to perform your duties (whether statutory, fiduciary or common law) faithfully, diligently and to a standard commensurate with the functions of your role and your knowledge, skills and experience.

	
3.3

	
You shall exercise your powers in your role as a non-executive director having regard to relevant obligations under prevailing law and regulation, including the UK Companies Act 2006, the UK Financial Conduct Authority's (the "FCA") Listing, Prospectus, Disclosure and Transparency Rules, the applicable requirements of the United States federal securities laws and rules and the regulations of the United States Securities and Exchange Commission (the "SEC Rules") and the applicable requirements of the NASDAQ Stock Market Rules (the "NASDAQ Rules").

	
3.4

	
You shall have particular regard to the general duties of directors in Part 10 of the UK Companies Act 2006, including the duty to promote the success of the Company under which all directors must act in the way they consider, in good faith, would be most likely to promote the success of the Company for the benefit of its members as a whole. In doing so, as a director, you must have regard (among other matters) to:

	
(a)

	
the likely consequences of any decision in the long term;

	
(b)

	
the interests of the Company's employees;

	
(c)

	
the need to foster the Company's business relationships with suppliers, customers and others;

	
(d)

	
the impact of the Company's operations on the community and the environment;

	
(e)

	
the desirability of the Company maintaining a reputation for high standards of business conduct; and

	
(f)

	
the need to act fairly as between the members of the Company.

	
3.5

	
In your role as a non-executive director of the Company, you shall also be required to:

	
(a)

	
constructively challenge and help develop proposals on strategy;

	
(b)

	
scrutinise the performance of management in meeting agreed goals and objectives and monitor the reporting of performance;

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(c)

	
satisfy yourself on the integrity of financial information and that financial controls and systems of risk management are robust and defensible;

	
(d)

	
be responsible for determining appropriate levels of remuneration of executive directors and have a prime role in appointing and, where necessary, removing senior management and in succession planning;

	
(e)

	
scrutinise standards of conduct, compliance and control in relation to the Board and the Company generally;

	
(f)

	
devote time to developing and refreshing your knowledge and skills;

	
(g)

	
uphold high standards of integrity and probity and support the chairman and executive directors in instilling the appropriate culture, values and behaviours in the boardroom and beyond;

	
(h)

	
insist on receiving high-quality information sufficiently in advance of Board meetings;

	
(i)

	
take into account the views of shareholders and other stakeholders where appropriate;

	
(j)

	
make sufficient time available to discharge your responsibilities effectively;

	
(k)

	
exercise relevant powers under, and abide by, the Articles;

	
(l)

	
disclose the nature and extent of any direct or indirect interest you may have in any matter being considered at a Board or committee meeting and, except as permitted under the Articles, you will not vote on any resolution of the Board, or of one of its committees, on any matter where you have any direct or indirect interest;

	
(m)

	
immediately report your own wrongdoing or the wrongdoing or proposed wrongdoing of any employee or other director of the Company of which you become aware to the Board;

	
(n)

	
exercise your powers as a director in accordance with the Company's policies and procedures and the UK Bribery Act 2010 and the US Foreign Corrupt Practices Act 1977; and

	
(o)

	
not do anything that would cause you to be disqualified from acting as a director.

	
3.6

	
It goes without saying that at all times you must carry out your duties diligently, with due skill, care and attention and use your best endeavours to promote and protect the interests of the Company and any company in the Company's group.

	
3.7

	
Unless the Board specifically authorises you to do so, you shall not enter into any legal or other commitment or contract on behalf of the Company.

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3.8

	
You shall be entitled to request all relevant information about the Company's affairs as is reasonably necessary to enable you to discharge your responsibilities as a non-executive director.

	
4.

	
FEES AND EXPENSES

	
4.1

	
As more fully explained in the Non-Employee Director Compensation Policy appended to this letter of appointment, you shall be paid a gross annual fee of $60,000 (current at the date of this letter) (the "Annual Appointment Fee"). In addition to the Annual Appointment Fee, you shall receive a gross annual fee of $15,000 in respect of your appointment as a member of the Audit & Compliance Committee (together with the Annual Appointment Fee the "Fees"). The Fees shall be paid in equal instalments quarterly in advance each calendar quarter. The first instalment will be paid to you on a pro-rated basis on or as soon as practicable following 27 July 2016 to cover the period to the end of the current calendar quarter.

	
4.2

	
The Fees cover all duties and will be payable after deduction of any taxes and other amounts that are required by law, which shall be subject to a periodic review by the Board.

	
4.3

	
The Company shall reimburse you for all reasonable and properly documented expenses that you incur in performing the duties of your office. The procedure and other guidance in respect of expense claims is available from the Board.

	
4.4

	
On termination of your appointment, you shall only be entitled to such fees as may have accrued to the date of termination, together with reimbursement in the normal way of any expenses properly incurred before that date.

	
5.

	
INDEPENDENT PROFESSIONAL ADVICE

In some circumstances you may consider that you need professional advice in the furtherance of your duties as a director and it may be appropriate for you to seek advice from independent advisers at the Company's expense.  The Company shall reimburse the reasonable cost of obtaining that advice incurred by you provided that you obtain the prior authorisation of the Board.

	
6.

	
OUTSIDE INTERESTS

	
6.1

	
All directors must take decisions objectively in the best interests of the Company.  You will be expected to bring an independent judgement to bear on issues of strategy, performance, resources and standards of conduct.  You understand and accept the obligation of a director not to put himself in a position where his own interests are in conflict with those of the Company.

	
6.2

	
You have already disclosed to the Board the significant commitments you have outside your role in the Company. You must inform the chairman in advance of any changes to these commitments. In certain circumstances, you may have to seek the Board's agreement before accepting further commitments which either might give rise to a conflict of interest or a conflict with any of your

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duties to the Company, or which might impact on the time that you are able to devote to your role at the Company.

	
6.3

	
It is accepted and acknowledged that you have business interests other than those of the Company and have declared any conflicts that are apparent at present. If you become aware of any further potential or actual conflicts of interest, these should be disclosed to the chairman and company secretary as soon as you become aware of them and again you may have to seek the agreement of the Board.

	
6.4

	
The Board has determined that you are independent according to the independence criteria set out in the SEC Rules and the NASDAQ Rules.

	
7.

	
CONFIDENTIALITY

	
7.1

	
During your appointment, you will have access to confidential information regarding the business and financial affairs of the Company and the Company's clients.  You must not (except in the proper performance of your duties) while a director of the Company or at any time (without limit) after ceasing to be a director of the Company:

	
(a)

	
Divulge or communicate to any Person;

	
(b)

	
Use for your own purposes or for any purposes other than those of the Company or any company in the Company's group or, as appropriate, any of its or their clients; or

	
(c)

	
Through any failure to exercise due care and diligence, cause any unauthorised disclosure of;

any trade secrets or confidential information relating to the Company or any company in the Company's group or any of its or their clients.  You must at all times use your best endeavours to prevent publication or disclosure of any trade secrets or confidential information.  These restrictions shall cease to apply to any information which shall become available to the public generally otherwise than through the default by you.

	
7.2

	
All documentation relating to the business of the Company and any company in the Company's group or any of its or their clients (and any copies of the same) shall be and remain the property of the Company or the relevant company within the Company's group or client.  This will include notes, memoranda, records, lists of customers, suppliers and employees, correspondence, computer and other discs and tapes and other material (whether made or created by you and in whatever medium or format).  Please ensure that you return all property of the Company and any company in the Company's group or clients on demand and in any event on the termination of your appointment.

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7.3

	
Nothing in this paragraph 7 shall prevent you from disclosing information which you are entitled to disclose under the UK Public Interest Disclosure Act 1998, provided that the disclosure is made in accordance with the provisions of that Act.

	
8.

	
INSIDE INFORMATION AND DEALING IN THE COMPANY'S SHARES

	
8.1

	
Your attention is drawn to the requirements under both law and regulation as to the disclosure of inside information, in particular to the Disclosure and Transparency Rules of the FCA and section 52 of the UK Criminal Justice Act 1993 on insider dealing and the applicable United States laws relating to insider dealing. You should avoid making any statements that might risk a breach of these requirements. If in doubt, please contact the chairman or company secretary.

	
8.2

	
During your period of appointment you are required to comply with the provisions of the Model Code (as annexed to the Listing Rules of the FCA) in relation to dealing in the Company's publicly traded or quoted securities, and any such other code as the Company may adopt from time to time which sets out the terms for dealings by directors in the Company's publicly traded or quoted securities. A copy of the current insider trading policy adopted by the Company will be provided to you separately.

	
9.

	
INDUCTION

In connection with your appointment, the Company will provide a comprehensive, formal and tailored induction which may involve overseas travel. We will arrange for site visits and meetings with senior and middle management and the Company's auditors. We will also give the major shareholders the opportunity to meet you.

	
10.

	
TRAINING

On an ongoing basis, and further to the annual evaluation process, the Company will arrange for you to develop and refresh your skills and knowledge in areas which are mutually identified as being likely to be required, or of benefit to you, in carrying out your duties effectively. You should try to make yourself available for any relevant training sessions which may be organised for the Board.

	
11.

	
REVIEW PROCESS

The performance of individual directors and the whole Board and its committees is evaluated annually. If, in the interim, there are any matters which cause you concern about your role you should discuss them with the chairman as soon as you can.

	
12.

	
INSURANCE AND INDEMNITY

	
12.1

	
The Company has directors' and officers' liability insurance and it intends to maintain such cover for the full term of your appointment.

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12.2

	
The Company shall grant you a deed of indemnity against certain liabilities that may be incurred as a result of your office to the extent permitted by section 234 of the UK Companies Act 2006.

	
13.

	
CHANGES TO PERSONAL DETAILS

You shall advise the company secretary promptly of any change in your address or other personal contact details.

	
14.

	
RETURN OF PROPERTY

On termination of your appointment with the Company however arising, or at any time at the Board's request, you shall immediately return to the Company all documents, records, papers or other property belonging to the Company or any company in the Company's group which may be in your possession or under your control, and which relate in any way to the Company's or a group company's business affairs and you shall not retain any copies thereof.

	
15.

	
MORAL RIGHTS

You hereby irrevocably waive any moral rights in all works prepared by you, in the provision of your services to the Company, to which you are now or may at any future time be entitled under Chapter IV of the UK Copyright Designs and Patents Act 1988 or any similar provisions of law in any jurisdiction, including (but without limitation) the right to be identified, the right of integrity and the right against false attribution, and agree not to institute, support, maintain or permit any action or claim to the effect that any treatment, exploitation or use of such works or other materials, infringes your moral rights.

	
16.

	
DATA PROTECTION

	
16.1

	
By signing this letter you consent to the Company holding and processing data about you for legal, personnel, administrative and management purposes and in particular to the processing of any sensitive personal data (as defined in the UK Data Protection Act 1998) relating to you including, as appropriate:

	
(a)

	
information about your physical or mental health or condition in order to monitor sick leave and take decisions as to your fitness to perform your duties; or

	
(b)

	
your racial or ethnic origin or religious or similar beliefs in order to monitor compliance with equal opportunities legislation; or

	
(c)

	
information relating to any criminal proceedings in which you have been involved for insurance purposes and in order to comply with legal requirements and obligations to third parties.

	
16.2

	
You consent to the Company making such information available to any of its group companies, those who provide products or services to the Company or any company in the Company's group

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(such as advisers and payroll administrators), regulatory authorities, potential or future employers, governmental or quasi-governmental organisations and potential purchasers of the Company or the business in which you work.

	
16.3

	
You also consent to the transfer of such information to the Company's or any group company's business contacts outside the European Economic Area in order to further their business interests even where the country or territory in question does not maintain adequate data protection standards.

	
16.4

	
You shall comply with the Company's data protection policy, a copy of which is available from the Board.  The Company may change its data protection policy at any time and will notify you in writing of any changes.

	
17.

	
THIRD PARTY RIGHTS

	
17.1

	
The Contracts (Rights of Third Parties) Act 1999 shall not apply to this letter.  No person other than you and the Company shall have any rights under this letter and the terms of this letter shall not be enforceable by any person other than you and the Company.

	
18.

	
ENTIRE AGREEMENT

	
18.1

	
This letter and any document referred to in it constitutes the entire terms and conditions of your appointment to the Board and supersedes and extinguishes all previous discussions, correspondence, negotiations, arrangements, agreements, promises, assurances, warranties, representations and understandings between you and the Company, whether written or oral, relating to its subject matter.

	
18.2

	
You agree that you shall have no remedies in respect of any representation, assurance or warranty (whether made innocently or negligently) that is not set out in this letter and you shall not have any claim for innocent or negligent misrepresentation or negligent misstatement based on any statement in this letter.

	
19.

	
VARIATION

No variation of this letter shall be effective unless it is in writing and signed by you and the Company (or respective authorised representatives).

	
20.

	
GOVERNING LAW AND JURISDICTION

Your appointment with the Company and any dispute or claim arising out of or in connection with it or its subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with the law of England and Wales and you and the Company irrevocably agree that the courts of England and Wales shall have exclusive jurisdiction to settle any dispute or claim that arises out of or in connection with this appointment or its subject matter or formation (including non-contractual disputes or claims).

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Please indicate your acceptance of these terms by signing and returning the attached copy of this letter to the Board.

Yours sincerely

/s/ Brian Sheridan                                                 

For and on behalf of LIVANOVA PLC

Name (printed): Brian Sheridan                          

Title: General Counsel & Company Secretary

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I confirm and agree to the terms of my appointment as a non-executive director of LivaNova PLC as set out in this letter.

/s/ Andrea Saia                                             

Name (printed): ANDREA SAIA

Date:  27 July 2016                                       

12Exhibit 10.1

 

AMENDMENT NO. 3 TO CREDIT AGREEMENT

This AMENDMENT NO. 3 TO CREDIT AGREEMENT (this "Amendment") dated as of July 26, 2016 is entered into by and among MUELLER INDUSTRIES, INC., a Delaware corporation (the "Borrower"), BANK OF AMERICA, N.A., in its capacity as administrative agent for the Lenders (as defined in the Credit Agreement described below) (in such capacity, the "Administrative Agent") and in its capacity as L/C Issuer and Swing Line Lender (each as defined in the Credit Agreement described below), each of the Lenders signatory hereto, and each of the Subsidiary Guarantors (as defined in the Credit Agreement described below) signatory hereto.  Each capitalized term used and not otherwise defined in this Amendment has the definition specified in the Credit Agreement described below.

WITNESSETH:

WHEREAS, the Borrower, the Administrative Agent, the L/C Issuer, the Swing Line Lender and the Lenders party thereto have entered into that certain Credit Agreement dated as of March 7, 2011 (as amended by that certain Amendment No. 1 to Credit Agreement dated as of August 12, 2011 and Amendment No. 2 to Credit Agreement dated as of December 11, 2012, the "Credit Agreement"), pursuant to which the Lenders have made available to the Borrower a revolving credit facility with a swing line sublimit and a letter of credit sublimit;

WHEREAS, each of the Subsidiary Guarantors has entered into the Subsidiary Guaranty pursuant to which it has guaranteed the payment and performance of the obligations of the Borrower under the Credit Agreement and the other Loan Documents;

WHEREAS, the Borrower has advised the Administrative Agent, the L/C Issuer, the Swing Line Lender and the Lenders that it desires to amend the Credit Agreement as set forth below; and

WHEREAS, the Administrative Agent, the L/C Issuer and the Lenders are willing to so amend the Credit Agreement on the terms and conditions contained in this Amendment;

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the parties hereto, the parties hereto hereby agree as follows:

1. Amendments to Credit Agreement.  Subject to the terms and conditions set forth herein and in reliance upon the representations and warranties set forth herein, the Credit Agreement is amended as follows:

	
(a)

	
Section 1.01 of the Credit Agreement is amended to add the following new definitions in the appropriate alphabetical location therein:

"LIBOR" has the meaning specified in the definition of Eurocurrency Rate.

 

"LIBOR Quoted Currency" means each of the following currencies: Dollars; Euro; Sterling; Yen; and Swiss Franc; in each case as long as there is a published LIBOR rate with respect thereto.

"Non-LIBOR Quoted Currency" means any currency other than a LIBOR Quoted Currency.

"Notice of Loan Prepayment" means a notice of prepayment with respect to a Loan, which shall be in a form approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent), appropriately completed and signed by a Responsible Officer of the Borrower.

"Swiss Franc" means the lawful currency of Switzerland.

"Yen" and "¥" means the lawful currency of Japan.

	
(b)

	
The definition of "Change of Control" in Section 1.01 of the Credit Agreement is amended by deleting the parenthetical at the end of clause (b) therein.

	
(c)

	
The definitions of "Eurocurrency Rate", "Loan Notice", "Responsible Officer" and "Swing Line Loan Notice" in Section 1.01 of the Credit Agreement are amended and restated in their entirety as follows:

"Eurocurrency Rate" means:

(a) for any Interest Period with respect to a Eurocurrency Rate Loan,

(i) in the case of a Eurocurrency Rate Loan denominated in a LIBOR Quoted Currency, the rate per annum equal to the London Interbank Offered Rate ("LIBOR") or a comparable or successor rate approved by the Administrative Agent, as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time) at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period, for deposits in the relevant currency (for delivery on the first day of such Interest Period) with a term equivalent to such Interest Period; and

(ii) in the case of any other Eurocurrency Rate Loan denominated in a Non-LIBOR Quoted Currency, the rate per annum as designated with respect to such currency at the time such currency was approved by the Administrative Agent and the Lenders pursuant to Section 1.06(a) or, if such rate is unavailable on any date of determination for any reason, a comparable or successor rate approved by the Administrative Agent; and

(b) for any interest calculation with respect to a Base Rate Loan on any date, the rate per annum equal to LIBOR or a comparable or successor rate approved by the Administrative Agent, as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time) at approximately 11:00 a.m., London time determined two Business Days prior to such date for Dollar deposits being delivered in the London interbank market for a term of one month commencing that day;

 

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provided that (i) to the extent a comparable or successor rate is approved by the Administrative Agent in connection with any rate set forth in this definition, the approved rate shall be applied in a manner consistent with market practice (however, to the extent such market practice is not administratively feasible for the Administrative Agent, such approved rate shall be applied in a manner as otherwise reasonably determined by the Administrative Agent) and (ii) if the Eurocurrency Rate shall be less than zero, such rate shall be deemed zero for purposes of this Agreement.  The Administrative Agent does not warrant, nor accept responsibility, nor shall the Administrative Agent have any liability with respect to the administration, submission or any other matter related to LIBOR or any comparable or successor rate referenced in this definition above.

"Loan Notice" means a notice of (a) a Term Loan Borrowing, (b) a Committed Borrowing, (c) a conversion of Loans from one Type to the other, or (d) a continuation of Eurocurrency Rate Loans, pursuant to Section 2.02(a), which, if in writing, shall be substantially in the form of Exhibit A or such other form as may be approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent), appropriately completed and signed by a Responsible Officer of the Borrower.

"Responsible Officer" means the chief executive officer, president, chief financial officer, treasurer, vice president, assistant treasurer or controller of a Loan Party, solely for purposes of the delivery of incumbency certificates pursuant to Section 4.01, the secretary or any assistant secretary of a Loan Party and, solely for purposes of notices given pursuant to Article II, any other officer of the applicable Loan Party so designated by any of the foregoing officers in a notice to the Administrative Agent or any other officer or employee of the applicable Loan Party designated in or pursuant to an agreement between the applicable Loan Party and the Administrative Agent.  Any document delivered hereunder that is signed by a Responsible Officer of a Loan Party shall be conclusively presumed to have been authorized by all necessary corporate, partnership and/or other action on the part of such Loan Party and such Responsible Officer shall be conclusively presumed to have acted on behalf of such Loan Party.

"Swing Line Loan Notice" means a notice of a Swing Line Borrowing pursuant to Section 2.04(b), which, if in writing, shall be substantially in the form of Exhibit B or such other form as approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent pursuant), appropriately completed and signed by a Responsible Officer of the Borrower.

	
(d)

	
The definition of "Federal Funds Rate" in Section 1.01 of the Credit Agreement is amended by deleting the reference therein to "arranged by Federal funds brokers on such day".

 

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(e)

	
The first sentence of Section 2.02(a) of the Credit Agreement is amended and restated in its entirety as follows:

Each Committed Borrowing, the Term Loan Borrowing, each conversion of Loans from one Type to the other, and each continuation of Eurocurrency Rate Loans shall be made upon the Borrower's irrevocable notice to the Administrative Agent, which may be given by: (A) telephone or (B) a Loan Notice.

	
(f)

	
The first sentence of Section 2.04(b) of the Credit Agreement is amended and restated in its entirety as follows:

Each Swing Line Borrowing shall be made upon the Borrower's irrevocable notice to the Swing Line Lender and the Administrative Agent, which may be given by: (A) telephone or (B) a Swing Line Loan Notice.

	
(g)

	
Section 2.05(a) of the Credit Agreement is amended by replacing the reference therein to ", upon notice to the Administrative Agent," with ", upon notice to the Administrative Agent pursuant to delivery to the Administrative Agent of a Notice of Loan Prepayment,".

	
(h)

	
Section 2.05(b) of the Credit Agreement is amended by replacing the reference therein to ",upon notice to the Swing Line Lender (with a copy to the Administrative Agent)," with ", upon notice to the Swing Line Lender pursuant to delivery to the Swing Line Lender of a Notice of Loan Prepayment (with a copy to the Administrative Agent),".

	
(i)

	
Each of Section 6.12 and Section 7.04 of the Credit Agreement is amended by (i) replacing each reference therein to "30%" with "50%" and (ii) replacing each reference therein to "40%" with "50%".

	
(j)

	
Section 10.17 of the Credit Agreement is amended and restated in its entirety as follows:

10.17 Electronic Execution of Assignments and Certain Other Documents.  The words "delivery," "execute," "execution," "signed," "signature," and words of like import in any Loan Document or any other document executed in connection herewith shall be deemed to include electronic signatures, the electronic matching of assignment terms and contract formations on electronic platforms approved by the Administrative Agent, or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable Law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act; provided that notwithstanding anything contained herein to the contrary neither the Administrative Agent, the L/C Issuer nor any Lender is under any obligation to agree to accept electronic signatures in any form or in any format unless expressly agreed to by the Administrative Agent, the L/C Issuer or such Lender pursuant to procedures approved by it and provided further without limiting the foregoing, upon the request of any party, any electronic signature shall be promptly followed by such manually executed counterpart.

 

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2. Effectiveness; Condition Precedent.  The parties hereto agree that this Amendment and the amendments provided in Section 1 shall become effective upon the Administrative Agent's receipt of a counterpart of this Amendment, duly executed and delivered by each of the Borrower, the Subsidiary Guarantors, the Administrative Agent and Lenders constituting Required Lenders.

3. Representations and Warranties.  In order to induce the Administrative Agent, the Lenders, the Swing Line Lender and the L/C Issuer to enter into this Amendment, the Borrower represents and warrants to the Administrative Agent, the Swing Line Lender, such Lenders and the L/C Issuer as follows:

(a) The representations and warranties made by it in Article V of the Credit Agreement, and by each Loan Party in each of the Loan Documents to which such Loan Party is a party, are true and correct in all material respects on and as of the date hereof, except that (i) if a qualifier relating to materiality or Material Adverse Effect applies, such representation or warranty is true and correct in all respects and (ii) to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct in all material respects as of such earlier date (except that if a qualifier relating to materiality or Material Adverse Effect applies, such representation or warranty is true and correct in all respects as of such earlier date).

(b) Since the date of the most recent financial reports of the Borrower delivered pursuant to Section 6.01 of the Credit Agreement, no act, event, condition or circumstance has occurred or arisen which, singly or in the aggregate with one or more other acts, events, occurrences or conditions (whenever occurring or arising), has had or could reasonably be expected to have a Material Adverse Effect;

(c) This Amendment has been duly authorized, executed and delivered by the Borrower and the Subsidiary Guarantors party hereto and constitutes a legal, valid and binding obligation of each such Person, except as may be limited by general principles of equity or by the effect of any applicable bankruptcy, insolvency, reorganization, moratorium or similar law affecting creditors' rights generally; and

(d) No Default or Event of Default has occurred and is continuing or will exist after giving effect to this Amendment.

4. Fees and Expenses.  The Borrower shall pay on demand all reasonable costs and expenses of the Administrative Agent in connection with the preparation, negotiation, execution, and delivery of this Amendment and any other documents prepared in connection herewith, including, without limitation, the reasonable fees, charges and disbursements of one counsel for the Administrative Agent.

5. Entire Agreement.  This Amendment, together with the Loan Documents (collectively, the "Relevant Documents"), sets forth the entire understanding and agreement of the parties hereto in relation to the subject matter hereof and supersedes any prior negotiations and agreements among the parties relating to such subject matter.  No promise, condition, representation or warranty, express or implied, not set forth in the Relevant Documents shall bind any party hereto, and no such party has relied on any such promise, condition, representation or warranty.  Each of the parties hereto acknowledges that, except as otherwise expressly stated in the Relevant Documents, no representations, warranties or commitments, express or implied, have been made by any party to the other in relation to the subject matter hereof or thereof.  None of the terms or conditions of this Amendment may be changed, modified, waived or canceled orally or otherwise, except in writing and in accordance with Section 10.01 of the Credit Agreement.

 

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6. Ratification and Confirmation of Loan Documents.  The Borrower and the Subsidiary Guarantors each hereby consents, acknowledges and agrees to the amendments set forth herein and hereby confirms and ratifies in all respects the Loan Documents to which such Person is a party (including without limitation, with respect to each Subsidiary Guarantor, the continuation of its payment and performance obligations under the Subsidiary Guaranty), in each case upon and after the effectiveness of the amendments contemplated hereby.

7. Counterparts.  This Amendment may be executed in any number of counterparts, each of which shall be deemed an original as against any party whose signature appears thereon, and all of which shall together constitute one and the same instrument.  Delivery of an executed counterpart of a signature page of this Amendment by telecopy, facsimile or other electronic transmission (including .pdf) shall be effective as delivery of a manually executed counterpart of this Amendment.

8. Governing Law.  This Amendment shall in all respects be governed by, and construed in accordance with, the laws of the State of New York.

9. Enforceability.  Should any one or more of the provisions of this Amendment be determined to be illegal or unenforceable as to one or more of the parties hereto, all other provisions nevertheless shall remain effective and binding on the parties hereto.

10. References.  All references in any of the Loan Documents to the "Credit Agreement" shall mean the Credit Agreement, as amended hereby and as from time to time hereafter further amended, modified, supplemented, restated or amended and restated.

11. Successors and Assigns.  This Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assignees to the extent such assignees are permitted assignees as provided in Section 10.06 of the Credit Agreement.

[Signature pages follow.]

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 3 to Credit Agreement to be executed as of the date first above written.

BORROWER:

MUELLER INDUSTRIES, INC.

By:              /s/ Jeffrey A. Martin

Name:         Jeffrey A. Martin

		Title:	Chief Financial Officer and Treasurer

SUBSIDIARY GUARANTORS:

B&K LLC

DENO INVESTMENT COMPANY II, INC.

EXTRUDED METALS, INC.

HOWELL METAL COMPANY

ITAWAMBA INDUSTRIAL GAS COMPANY, INC.

MUELLER BRASS CO.

MUELLER BRASS FORGING COMPANY, INC.

MUELLER COPPER TUBE COMPANY, INC.

MUELLER COPPER TUBE PRODUCTS, INC.

MUELLER EAST, INC.

MUELLER FITTINGS COMPANY, INC.

MUELLER FITTINGS, LLC

MUELLER IMPACTS COMPANY, INC.

MUELLER INDUSTRIAL REALTY CO.

MUELLER PLASTICS CORPORATION, INC.

MUELLER PRESS COMPANY, INC.

MUELLER REFRIGERATION, LLC

MUELLER STREAMLINE CO.

MUELLER SOUTHEAST, INC. (f/k/a Precision Tube Company, Inc.

SHERWOOD VALVE, LLC

WESTERMEYER INDUSTRIES, INC.

By:              /s/ Jeffrey A. Martin

Name:         Jeffrey A. Martin

		Title:	Treasurer

ADMINISTRATIVE AGENT:

BANK OF AMERICA, N.A., as

Administrative Agent

By:              /s/ Angela Larkin

Name:      Angela Larkin

Title:           Assistant Vice President

BANK OF AMERICA, N.A.,

as a Lender, Swing Line Lender and L/C Issuer

By:              /s/ Bruce Clark

Name:         Bruce Clark

Title:           Vice President

REGIONS BANK, as a Lender

By:              /s/ Jon-Paul Hickey

Name:         Jon-Paul Hickey

Title:           Director

SUNTRUST BANK, as a Lender

By:              /s/ Elizabeth Tallmadge

Name:         Elizabeth Tallmadge

Title:           Managing Director

WELLS FARGO BANK, NATIONAL ASSOCIATION, as a Lender

By:              /s/ George Linhart

Name:         George Linhart

Title:           Senior Vice President

U.S. BANK NATIONAL ASSOCIATION, as a Lender

By:              /s/ Kenneth Gorski

Name:         Kenneth Gorski

Title:           Vice President

FIRST TENNESSEE BANK NATIONAL ASSOCIATION, as a Lender

By:              /s/ Bob Nieman

Name:         Bob Nieman

Title:           Senior Vice President

HSBC BANK USA, NA, as a Lender

By:              /s/ Devin Moore

Name:         Devin Moore

Title:           Vice President

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