SEC Contract Filing

Filing Date: 2018-06-29

Document Content:
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<TYPE>EX-10.34
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<FILENAME>d564680dex1034.htm
<DESCRIPTION>EX-10.34
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<TITLE>EX-10.34</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.34 </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AMENDMENT NO. 1 TO CREDIT AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">This AMENDMENT NO. 1 TO CREDIT AGREEMENT, dated as of May&nbsp;31, 2018 (this &#147;<U>Amendment</U>&#148;), is entered into among GENERAL
MILLS, INC., a Delaware corporation (the &#147;<U>Company</U>&#148;), the Banks (as defined below) signatory hereto and BANK OF AMERICA, N.A., as administrative agent (in such capacity, the &#147;<U>Administrative Agent</U>&#148;). </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RECITALS </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A. The Company,
the several financial institutions from time to time party thereto (the &#147;<U>Banks</U>&#148;) and the Administrative Agent entered into that certain Five-Year Credit Agreement dated as of May&nbsp;18, 2016 (as the same may have been amended,
supplemented or otherwise modified prior to the date hereof, the &#147;<U>Credit Agreement</U>&#148;), pursuant to which the Banks agreed to make available to the Company a revolving credit facility upon the terms and conditions set forth therein.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">B. The Company has requested that the Administrative Agent and the Banks agree to amend the Credit Agreement as set forth herein. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">C. Subject to the conditions set forth in <U>Section</U><U></U><U>&nbsp;3</U> hereof, the Banks party hereto are willing to agree to the
amendments set forth in <U>Section</U><U></U><U>&nbsp;2</U> hereof relating to the Credit Agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">NOW THEREFORE, for and in
consideration of the mutual covenants and agreements herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company, the Administrative Agent and the Banks hereby agree as
follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">1. <U>Defined Terms</U>. Capitalized terms which are defined in the Credit Agreement and not otherwise defined herein have the
meanings given in the Credit Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">2. <U>Amendment</U>. Effective on the Amendment Effective Date (as defined below), the Credit
Agreement shall be amended as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Section 1.01 of the Credit Agreement is hereby amended by adding the following definition in
the appropriate alphabetical order: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">&#147;<B>Benefit Plan</B>&#148; means any of (a)&nbsp;an &#147;employee benefit plan&#148; (as defined
in ERISA) that is subject to Title I of ERISA, (b)&nbsp;a &#147;plan&#148; as defined in Section&nbsp;4975 of the Code or (c)&nbsp;any Person whose assets include (for purposes of ERISA Section&nbsp;3(42) or otherwise for purposes of Title I of
ERISA or Section&nbsp;4975 of the Code) the assets of any such &#147;employee benefit plan&#148; or &#147;plan&#148;. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">&#147;<B>PTE</B>&#148; means a prohibited transaction class exemption issued by the U.S. Department of Labor, as any such exemption may be
amended from time to time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Section 8.01(h)(v) of the Credit Agreement is hereby replaced in its entirety with &#147;[reserved]&#148;.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) Article 9 of the Credit Agreement is hereby amended by adding a new Section&nbsp;9.11 to read as follows: </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 9.11. <I>Certain ERISA Matters</I>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Each Bank (x)&nbsp;represents and warrants, as of the date such Person became a Bank party hereto, to, and
(y)&nbsp;covenants, from the date such Person became a Bank party hereto to the date such Person ceases being a Bank party hereto, for the benefit of, the Administrative Agent and each Lead Arranger and their respective Affiliates, and not, for the
avoidance of doubt, to or for the benefit of the Company, that at least one of the following is and will be true: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i)
such Bank is not using &#147;plan assets&#148; (within the meaning of 29 CFR &#167; <FONT STYLE="white-space:nowrap">2510.3-101,</FONT> as modified by Section&nbsp;3(42) of