Document:

<PAGE>   1
                                                                   Exhibit 10.20

                                SECOND AMENDMENT
                                       TO
                 REVOLVING CREDIT AND LINE OF CREDIT AGREEMENT

         This Second Amendment (the "Second Amendment") to Revolving Credit and
Line of Credit Agreement, dated as of December 21, 2000, is entered into by and
between Office Depot, Inc., a Delaware corporation ("Borrower") and the various
financial institutions party to the Credit Agreement (hereinafter defined) which
execute one or more counterparts of this Second Amendment and which collectively
constitute the Required Lenders (as defined in the Credit Agreement.)

                                  WITNESSETH:

         WHEREAS, the Borrower has heretofore entered into a Revolving Credit
and Line of Credit Agreement, dated as of February 20, 1998, with SunTrust Bank
(f/k/a SunTrust Bank, Central Florida, National Association), a national banking
association ("SunTrust"), Bank of America, N.A. (f/k/a Bank of America National
Trust and Savings Association), a national banking association ("Bank of
America"), Citibank, N.A., a national banking association ("Citibank"), Bank
One, NA (f/k/a The First National Bank of Chicago), a national banking
association ("Bank One"), Royal Bank of Canada, a Canadian chartered bank
("Royal Bank"), Hibernia National Bank, a national banking association, Fifth
Third Bank, a national banking association, Banca di Roma, a bank organized
under the laws of Italy operating through its New York branch, and First Union
National Bank (as successor in interest to Corestates Bank, N.A.), a national
banking association (collectively, the "Lenders" and, individually, a "Lender"),
SunTrust as Administrative Agent, Bank of America as Syndication Agent and as
Documentation Agent and Bank One, Citibank and Royal Bank as Co-Agents for the
Lenders (as heretofore amended, modified or supplemented, the "Credit
Agreement"; capitalized terms used herein and not otherwise defined herein
having the meanings assigned thereto in the Credit Agreement);

         WHEREAS, the Borrower has requested that the Lenders agree to certain
amendments to the Credit Agreement;

         WHEREAS, subject to the terms and conditions set forth herein, the
Lenders executing this Second Amendment are willing to undertake certain
amendments to the Credit Agreement.

         NOW, THEREFORE, in consideration of the premises, and intending to be
legally bound hereby, the Borrower and the undersigned Lenders hereby agree as
follows:

         SECTION 1. AMENDMENTS. Upon the satisfaction by the Borrower of the
conditions precedent set forth in Section 2 below, and in reliance on the
warranties of the Borrower set forth in Section 3 below, the Credit Agreement is
hereby amended as follows:

         1.1.     The term "Applicable Margin" contained in Section 1.1 is
amended in its entirety to read as follows:

<PAGE>   2

         "        "Applicable Margin" shall mean the number of basis points
         designated below based on the rating of the Borrower's senior unsecured
         long-term debt by either or both of Moody's and S&P in effect on the
         date of determination (the "Rating"):

<TABLE>
<CAPTION>
                                                                                Eurodollar
                                                                                 Margin/
                             Rating:                                            Letter of
          Level            S&P/Moody's                Facility Fee              Credit Fee
          -----            -----------                ------------              ----------
          <S>              <C>                        <C>                       <C>
            I              >A-/A3                      10.0 bp                   27.5 bp
                           -
           II               BBB+/Baal                  12.5 bp                   37.5 bp
          III               BBB/Baa2                   15.0 bp                   47.5 bp
           IV               BBB-/Baa3                  17.5 bp                   70.0 bp
            V              <BBB-/Baa3                  22.5 bp                   102.5 bp
</TABLE>

                  provided, however, that:

                  (a)      if the Ratings established by S&P and Moody's shall
         fall within different Levels, the Applicable Margin shall be based upon
         the higher Level (i.e., higher Rating), provided the Ratings are not
         more than one Level apart and, if they are more than one Level apart,
         the Applicable Margin shall be based on the Rating one Level below the
         higher of the two Levels;

                  (b)      if any Rating established by S&P or Moody's shall be
         changed, such change shall be effective as of the date on which such
         change is first announced publicly by the agency making such change;

                  (c)      if S&P or Moody's shall change the basis on which
         ratings are established, each reference to the Rating announced by S&P
         or Moody's, as the case may be, shall refer to the then equivalent
         Rating by S&P or Moody's, as the case may be;

                  (d)      if only one of S&P or Moody's shall have in effect a
         Rating, the Applicable Margin shall be determined by reference to the
         available Rating; and

                  (e)      if neither S&P nor Moody's shall have in effect a
         Rating, and no comparable rating shall be issued by a rating agency
         proposed by Borrower and approved by the Required Lenders, which
         approval shall not unreasonably be withheld, the Applicable Margin
         shall be determined by reference to the lowest Level (i.e. lowest
         Rating)."

        1.2      The term "Fixed Charge Coverage Ratio" contained in Section 1.1
is amended in its entirety to read as follows:

                                      -2-
<PAGE>   3

         "        "Fixed Charge Coverage Ratio" shall mean, as at the end of
         any fiscal period of Borrower, the ratio of (A) Consolidated EBITR for
         such fiscal period to (B) the sum of (i) Consolidated Interest Expense
         plus (ii) Consolidated Rental Expense plus (iii) any interest and other
         continuing program fees (excluding initial closing fees) related to an
         accounts receivable securitization program (including any such interest
         or fees for which the Borrower or any Subsidiary is liable arising in
         connection with any private label credit card program), each for such
         fiscal period; provided that for purposes of any relevant period there
         shall be added to Consolidated EBITR for purposes of the determination
         of the Fixed Charge Coverage Ratio an amount, not to exceed
         $350,000,000, equal to the Borrower's restructuring charges announced
         on January 3, 2001 (the "Restructuring Charges")."

         1.3      The following term is hereby added to Section 1.1 in its
appropriate alphabetical order:

         "        "Utilization Fee" shall mean the quarterly fee payable by the
         Borrower to the Administrative Agent for the account of and
         distribution to the Lenders pursuant to Section 4.5(g)."

         1.4      Section 4.5 is amended to add the following subsection in its
appropriate alphabetical order:

         "        (g) Utilization Fee. To the extent and for so long as the
         average daily aggregate outstanding principal amount of the Loans at
         any time is equal to or exceeds one-half of the aggregate Commitments
         at such time, the Borrower shall pay to the Administrative Agent, for
         the account of and distribution to the Lenders which made such Loans, a
         Utilization Fee equal to 0.125% times such aggregate outstanding
         principal amount, such fee being payable quarterly in arrears on the
         last calendar day of each fiscal quarter of Borrower and on the
         Termination Date."

         1.5      Section 4.14 is amended by inserting the phrase ", utilization
fees" after the phrase "facility fees" in the first sentence thereof.

         1.6      Section 9.13 is amended by inserting the phrase "and
Utilization Fee" after the phrase "Facility Fee" in subsection (i) thereof.

         SECTION 2. CONDITIONS. As conditions precedent to the effectiveness of
this Second Amendment, (i) the Borrower shall have delivered to the
Administrative Agent this Second Amendment, duly executed and delivered, and
such other documents as the Required Lenders or the Administrative Agent may
reasonably request, (ii) the Borrower shall have paid to Bank of America such
fees with respect hereto as separately agreed to between such parties, (iii) the
Borrower shall have paid to the Administrative Agent for the account of each
Lender executing this Second Amendment on or prior to the date hereof a consent
fee equal to. 10% of such Lender's Commitment and (iv) the Administrative Agent
shall have received executed counterparts of this Second Amendment from the
Required Lenders.

                                      -3-
<PAGE>   4

         SECTION 3. REPRESENTATIONS AND WARRANTIES. To induce the Lenders to
enter into this Second Amendment, the Borrower hereby represents and warrants to
the Lenders as of the date hereof that:

         3.1      The representations and warranties contained in the Credit
                  Agreement and the other Credit Documents are true and correct
                  in all material respects on and as of the date hereof except
                  for representations and warranties that speak as of a
                  particular date, in which case such representations and
                  warranties are true as of such date.

         3.2      After giving effect to this Second Amendment, no Default or
                  Event of Default has occurred and is continuing.

         SECTION 4. GENERAL.

         4.1      Waiver of Certain Defaults. The Required Lenders hereby waive,
                  subject to the effectiveness of this Second Amendment, any
                  Event of Default which may exist under Section 9.6 of the
                  Credit Agreement solely as a result of the Restructuring
                  Charges causing a breach of the "Fixed Charge Coverage Ratio"
                  covenant set forth in any agreement of one or more of the
                  Consolidated Companies regarding Indebtedness, including
                  without limitation the guaranties under the Existing Japanese
                  Loan Agreements; provided that the foregoing waiver shall be
                  immediately effective but shall be subject to the conditions
                  subsequent that (i) effective waivers and/or amendments
                  similar to those contained herein are in place and effective
                  under such agreements by no later than the close of business
                  on January 31, 2001 and (ii) no such other Indebtedness shall
                  be accelerated (and this waiver shall terminate if condition
                  (i) is not satisfied in a timely manner or if such other
                  Indebtedness shall be accelerated). The foregoing waiver is
                  given in this instance only, shall not be construed as a
                  consent to, or waiver or approval of, any violation of, or
                  deviation from, any other term or condition of the Credit
                  Agreement or any other Credit Document and shall not be
                  construed to evidence the willingness of the Required Lenders
                  to give any other or additional consent, waiver or approval,
                  whether in similar or different circumstances.

         4.2      Reservation of Rights. The Borrower acknowledges and agrees
                  that the execution and delivery of this Second Amendment shall
                  not be deemed (i) to create a course of dealing or otherwise
                  obligate the Lenders to forbear or execute similar amendments
                  under the same or similar circumstances in the future, or (ii)
                  as a waiver by the Lenders of any covenant, condition, term or
                  provision of the Credit Agreement or any of the other Credit
                  Documents except as expressly provided herein, and the failure
                  of the Lenders to require strict performance by the Borrower
                  or any other Credit Party of any provision thereof shall not
                  waive, affect or diminish any right of the Lenders to
                  thereafter demand strict compliance therewith. The Lenders
                  hereby reserve all rights granted under the Credit Agreement,
                  the other Credit Documents and this Second Amendment.

                                      -4-
<PAGE>   5

         4.3      Full Force and Effect. As hereby modified, the Credit
                  Agreement and each of the other Credit Documents shall remain
                  in full force and effect and each is hereby ratified, approved
                  and confirmed in all respects.

         4.4      Affirmation. The Borrower hereby agrees to pay on demand all
                  reasonable costs and expenses of the Lenders in connection
                  with the preparation, execution and delivery of this Second
                  Amendment and all instruments and documents delivered in
                  connection herewith.

         4.5      Successors and Assigns. This Second Amendment shall be binding
                  upon and shall inure to the benefit of the Borrower, the
                  Lenders and the respective successors and assigns of the
                  Borrower and the Lenders.

         4.6      Counterparts. This Second Amendment may be executed in any
                  number of counterparts and by the different parties on
                  separate counterparts, and each such counterpart shall be
                  deemed to be an original, but all such counterparts shall
                  together constitute but one and the same Second Amendment.

         4.7      Governing Law. THIS SECOND AMENDMENT AND THE RIGHTS AND
                  OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN
                  ACCORDANCE WITH AND BE GOVERNED BY THE LAW (WITHOUT GIVING
                  EFFECT TO THE CONFLICT OF LAW PRINCIPLES THEREOF) OF THE STATE
                  OF FLORIDA.

                                    * * * * *

                                      -5-
<PAGE>   6

         IN WITNESS WHEREOF, the Borrower and the Lenders have executed this
Second Amendment as of the 21st day of December, 2000.

                                    BORROWER:

                                    OFFICE DEPOT, INC.

                                    By:  /s/ Jeffrey H. Aiken
                                       ---------------------------------------
                                    Name: Jeffrey H. Aiken
                                         -------------------------------------
                                    Title: Senior Vice President
                                          ------------------------------------

                                      S-1
       SECOND AMENDMENT TO REVOLVING CREDIT AND LINE OF CREDIT AGREEMENT

<PAGE>   7

                                    LENDERS:

                                    SUNTRUST BANK, individually and as
                                    Administrative Agent

                                    By:   /s/ Gregory L. Cannon
                                       ----------------------------------------
                                    Name: Gregory L. Cannon
                                         --------------------------------------
                                    Title: Director
                                          -------------------------------------

                                       S-2
       SECOND AMENDMENT TO REVOLVING CREDIT AND LINE OF CREDIT AGREEMENT

<PAGE>   8

                                    BANK OF AMERICA, N.A.

                                    By:   /s/ Timothy H. Spanos
                                       ----------------------------------------
                                    Name:  TIMOTHY H. SPANOS
                                         --------------------------------------
                                    Title: MANAGING DIRECTOR
                                          -------------------------------------

                                       S-3
        SECOND AMENDMENT TO REVOLVING CREDIT AND LINE OF CREDIT AGREEMENT

<PAGE>   9

                                    CITIBANK, N.A

                                    By:   /s/ John F. Heuss
                                       ----------------------------------------
                                    Name:    JOHN F. HEUSS
                                         --------------------------------------
                                    Title: Vice President
                                          -------------------------------------

                                       S-4
       SECOND AMENDMENT TO REVOLVING CREDIT AND LINE OF CREDIT AGREEMENT

<PAGE>   10

                                    BANK ONE, NA

                                    By:   /s/ Vincent R. Henchek
                                       ----------------------------------------
                                    Name: VINCENT R. HENCHEK
                                         --------------------------------------
                                    Title: VICE PRESIDENT
                                          -------------------------------------

                                      S-5
       SECOND AMENDMENT TO REVOLVING CREDIT AND LINE OF CREDIT AGREEMENT

<PAGE>   11

                                    ROYAL BANK OF CANADA

                                    By: /s/ Lori A. Ross
                                       ----------------------------------------
                                    Name:   Lori Ross
                                         --------------------------------------
                                    Title: Manager
                                          -------------------------------------

                                      S-6
       SECOND AMENDMENT TO REVOLVING CREDIT AND LINE OF CREDIT AGREEMENT

<PAGE>   12

                                    HIBERNIA NATIONAL BANK By:

                                    By:   /s/ Connie Disbrow
                                       ----------------------------------------
                                    Name:  Connie Disbrow
                                         --------------------------------------
                                    Title:  Relationship Manager
                                          -------------------------------------

                                      S-7
       SECOND AMENDMENT TO REVOLVING CREDIT AND LINE OF CREDIT AGREEMENT

<PAGE>   13

                                    FIRST UNION NATIONAL BANK

                                    By:   /s/ Joan Anderson
                                       ----------------------------------------
                                    Name: Joan Anderson
                                         --------------------------------------
                                    Title:  Vice President
                                          -------------------------------------

                                      S-10
        SECOND AMENDMENT TO REVOLVING CREDIT AND LINE OF CREDIT AGREEMENT<PAGE>   1
                                                                    Exhibit 10.9

                            COMPENSATION ARRANGEMENTS
                                  JOHN M. COOK
                                      2001

JOHN M. COOK
CHAIRMAN OF THE BOARD, CHIEF EXECUTIVE OFFICER

    The Company has entered into an employment agreement, as amended, with John
M. Cook that currently expires December 31, 2005. The employment agreement
provides for automatic one-year renewals upon the expiration of each year of
employment (such that it always has a five-year term), subject to prior notice
of non-renewal by the Board of Directors. Pursuant to Mr. Cook's employment
agreement, for 2000 through 2005, Mr. Cook receives an annual base salary of
$500,000, effective March 1, 2000, and an annual target bonus of up to 200
percent of his base salary based upon the Company's performance for the
respective year. For the year 2001, the Compensation Committee determined that
Mr. Cook is eligible to receive up to a maximum of 150,000 options if earnings
per share for 2001 are greater than 150 percent of 2000 adjusted earnings per
share. Mr. Cook will be entitled to receive a pro-rata share of options if 2001
earnings per share are between 130 percent and 149 percent of 2000 earnings per
share. Any options granted to Mr. Cook would be granted at fair market value as
of the end of 2001 and would vest over a four-year period at 25 percent per
year. If Mr. Cook is terminated other than for cause or if Mr. Cook resigns for
"Good Reason," he is eligible to receive a severance payment for the remainder
of the five-year term, comprised of base salary and bonus, up to a maximum
amount not to be deemed an "excess parachute payment" under the Code, and all
outstanding options immediately become vested. "Good Reason" means any of the
following occurring without Mr. Cook's consent: (i) the assignment of duties
or a position or title inconsistent with or lower than the duties, position or
title provided in Mr. Cook's Employment Agreement; (ii) a requirement that
Mr. Cook perform a substantial portion of his duties outside Atlanta, Georgia;
(iii) a reduction of Mr. Cook's compensation unless the Board or an appropriate
committee of the Board has authorized a general compensation decrease for all
executive officers of the Company; (iv) the acquisition by any person, entity
or group of 50 percent or more of the combined voting power of the then
outstanding securities of the Company; (v) certain events of merger,
consolidation, or transfer of assets of the Company ("Change in Control")
resulting in a minority ownership by Company stockholders in the successor
company following the Change in Control; (vi) the existing directors of the
Company prior to a Change in Control constitute less than a majority of the
directors of the successor company following the Change in Control; or (vii)
there shall have occurred any other transaction or event that the Board of
Directors of the Company in its discretion identifies as a Change in Control for
this purpose. Mr. Cook also is entitled to receive
certain supplemental insurance coverage and other personal benefits under his
employment agreement. Mr. Cook has agreed not to compete with the Company or to
solicit any of the Company's clients or employees for a period of 18 months
following termination of employment.

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