SEC Contract Filing

Filing Date: 2016-11-01

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>a2016q3form10qex103.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
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<div><a name="s1E9572BACF12B4C5B3F90B81D8658DD1"></a></div><div><div style="line-height:120%;text-align:left;text-indent:624px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div></div><div><br></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Exhibit 10.3</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">October 28, 2016</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Franklin Electric Co., Inc.</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">9255 Coverdale Road</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Fort Wayne, Indiana 46809</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Re: Amendment No. 1 to Third Amended and Restated Note Purchase and Private Shelf Agreement </font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Ladies and Gentlemen:</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Reference is made to that certain Third Amended and Restated Note Purchase and Private Shelf Agreement dated as of May 28, 2015 (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Note Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;), by and among Franklin Electric Co., Inc., an Indiana corporation (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Company</font><font style="font-family:inherit;font-size:12pt;">&#8221;), and PGIM, Inc. (&#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Prudential</font><font style="font-family:inherit;font-size:12pt;">&#8221;) and the Prudential Affiliates party thereto. Capitalized terms used and not otherwise defined herein shall have the meanings assigned to such terms in the Note Agreement, as amended hereby.</font></div><div style="line-height:120%;text-align:justify;text-indent:42px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The Company has requested that certain of the terms and provisions contained in the Note Agreement be amended as set forth herein, and the Company and the holders (which constitute the Required Holders) have agreed to such amendments, all under the terms and conditions set forth in this Letter Amendment No. 1 to Third Amended and Restated Note Purchase and Private Shelf Agreement (this &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Amendment No. 1</font><font style="font-family:inherit;font-size:12pt;">&#8221;). </font></div><div style="line-height:120%;text-align:justify;text-indent:42px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Accordingly, and in accordance with the provisions of paragraph 11C of the Note Agreement, the parties hereto agree as follows:</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">SECTION 1. </font><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Amendments to Note Agreement</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">.</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">1.1 &#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Amendment to Paragraph 5(B)</font><font style="font-family:inherit;font-size:12pt;">. Paragraph 5(B) of the Note Agreement is amended by inserting the following sentence after the last sentence thereof:</font></div><div style="line-height:138%;padding-bottom:13px;padding-top:16px;text-align:justify;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#82