RESTATED FIRST AMENDMENT TO CREDIT AGREEMENT
THIS AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) is entered into as of January 23,
2010, by and between SNOLINE S.p.A., successor in interest to LINDSAY ITALIA, S.r.l., an Italian Limited
Liability Company (“Borrower”), and WELLS FARGO BANK, NATIONAL ASSOCIATION (“Bank”).
WHEREAS, Borrower is currently indebted to Bank pursuant to the terms and conditions of that certain
Credit Agreement between Borrower and Bank dated as of December 27, 2006, as amended from time to time
WHEREAS, Borrower Lindsay Italia, S.r.l. was merged into Snoline S.p.A. on May 24, 2007 as permitted
under the terms of the Credit Agreement, and Snoline S.p.A. is now the successor in interest to Lindsay Italia,
S.r.l. and Borrower hereunder.
WHEREAS, Bank and Borrower have agreed to certain changes in the terms and conditions set forth in the
Credit Agreement and have agreed to amend the Credit Agreement to reflect said changes.
NOW, THEREFORE, for valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree that the Credit Agreement shall be amended as follows:
1. Section 4.8 is hereby deleted in its entirety, and the following substituted therefor:
“SECTION 4.8. FINANCIAL CONDITION. Maintain its financial condition as follows, on a
consolidated basis with Guarantor and its consolidated subsidiaries, using generally accepted accounting
principles consistently applied and used consistently with prior practices (except to the extent specified as follows
or modified by the definitions herein):
(a) Current Ratio not less than 1.50 to 1.0 as of each fiscal quarter end, with “Current Ratio” defined as total
current assets divided by total current liabilities.
(b) Tangible Net Worth not less than $115,000,000.00 (the “ TNW Requirement ”) as of each fiscal quarter
end, beginning with the quarter ended February 28, 2010; the TNW Require