AMENDMENT NO. 3 TO EXPORT CREDIT AND
Amendment No. 3 ("Amendment") dated as of February 28, 2003 to Export Credit and Security Agreement
dated as of November 30, 2000 between AMERICAN SCIENCE AND ENGINEERING, INC., a
Massachusetts corporation ("Borrower") and HSBC BANK USA, a bank organized under the laws of the State
of New York ("Bank").
W I T N E S S E T H:
WHEREAS, Borrower has heretofore entered into financing arrangements with Bank pursuant to the terms and
conditions of an Export Credit and Security Agreement dated as of November 30, 2000 between Bank and
Borrower as amended by an Amendment No. 1 to Export Credit and Security Agreement dated as of February
14, 2002 between Bank and Borrower and an Amendment No. 2 to Export Credit and Security Agreement
dated November 27, 2002 between Bank and Borrower (collectively, the "Credit Agreement") and the Financing
Agreements (as defined in the Credit Agreement);
WHEREAS, Borrower has requested and Bank is willing, subject to the terms and conditions hereof, to amend
the Credit Agreement to extend the termination date therein.
NOW, THEREFORE, in consideration of the foregoing premises, the mutual covenants and agreements
contained herein and other good and valuable consideration, the receipt and sufficiency of which is
acknowledged, Borrower and Bank mutually covenant, warrant and agree as follows:
SECTION 1. DEFINITIONS.
SECTION 1.1. INTERPRETATION. For purposes of this Amendment, unless otherwise defined herein, all
capitalized terms used herein including, but not limited to, those capitalized terms used and/or defined in the
recitals hereto, shall have the respective meanings assigned to such terms in the Credit Agreement.
SECTION 2. AMENDMENT.
SECTION 2.1. AMENDMENTS TO SECTION 1.1
(a) AMENDMENT TO DEFINITION OF EBIT. The definition of "EBIT" contained in the Credit Agreement is
amended by deleting it in its entirety and replacing it with the following "`EBIT' means total income before