EXHIBIT 4.2
AMENDMENT NO. 1
This Amendment No. 1 dated effective as of September 29, 2002
("Amendment") is among Pride Offshore, Inc., a Delaware corporation
("Borrower"), the Guarantors, the Term Lenders (each as defined below) and
Credit Lyonnais New York Branch, as Administrative Agent for the Term Lenders
("Administrative Agent").
INTRODUCTION
A. The Borrower, the Guarantors, the Term Lenders and the Administrative
Agent are parties to the Term Loan Agreement dated as of June 20, 2002 (the
"Credit Agreement").
B. The Borrower has requested that the Term Lenders amend the financial
covenants set forth in Sections 6.16, 6.17 and 6.18. The Term Lenders are
willing to amend such provisions subject to the terms of this Amendment.
THEREFORE, the Borrower, the Term Lenders and the Administrative Agent
hereby agree as follows:
Section 1. Definitions; References. Unless otherwise defined in this
Amendment, each term used in this Amendment which is defined in the Credit
Agreement has the meaning assigned to such term in the Credit Agreement.
Section 2. Amendments. The Credit Agreement shall, subject to the terms of
this Amendment, be amended as follows:
(a) Section 1.1. The definition of "Applicable Margin" is amended in its
entirety as follows:
"Applicable Margin" means, at any time with respect to each Type of Term
Loan, the percentage rate per annum as set forth below for the Level in effect
at such time:
Level Level
Level I II III Level IV Level V Level VI
------- -- --- -------- ------- --------
Eurodollar
Loans 2.50% 2.75% 3.00% 3.25% 3.75% 4.25%
Base Rate
Loans 1.00% 1.25% 1.50% 1.75% 2.25% 2.75%
; provided, however, that until the earlier of (a) January 1, 2004 or (b) the
date financial statements are delivered pursuant to Section 5.5(b) or Section
5.5(c), together with a Compliance Certificate for the fiscal quarter or fiscal
year then ended certifying that (i) the Leverage Ratio was equal to or less than
4.00 to 1.00, (ii) the Interest Coverage Ratio was equal to or greater than 3.25
to 1.00 and (iii) the Maximum Debt to Capitalization Ratio was equal to less
than 50%, each as of the end of such fiscal quarter or fiscal year,
as the case may be (the "Financial Covenant Certification"), then the Applicable
Margin shall be increased by an additional 0.50%.
(b) Section 6.16. Section 6.16 is amended in its entirety as follows:
Section 6.16 Leverage Ratio. The Parent Company shall not permit its
Leverage Ratio at the end of any fiscal quarter to be greater than the following
ratios for the following fiscal quarters:
Fiscal Quarters Ending Maximum Ratio
---------------------- -------------
June 30, 2002 4.75 to 1.00
September 30, 2002 and December 31, 2002 4.95 to 1.00
March 31, 2003 4.75 to 1.00
June 30, 2003 and September 30, 2003 4.50 to 1.00
December 31, 2003 4.00 to 1.00
March 31, 2004, June 30, 2004,
September 30, 2004 and December 31, 2004 3.50 to 1.00
March 31, 2005 and thereafter 3.00 to 1.00
; provided, however, after a Responsible Officer delivers the Financial Covenant
Certification, then the Parent Company shall not permit its Leverage Ratio at
the end of any fiscal quarter to be greater than the following ratios for the
following fiscal quarters:
Fiscal Quarters Ending Maximum Ratio
---------------------- -------------
Beginning with the fiscal quarter with
respect to which a Responsible Officer
delivers the Financial Covenant
Certification until December 31, 2003 4.00 to 1.00
March 31, 2004, June 30, 2004,
September 30, 2004 and December 31, 2004 3.50 to 1.00
March 31, 2005 and thereafter 3.00 to 1.00
2
(c) Section 6.17. Section 6.17 is amended in its entirety as follows:
Section 6.17 Interest Coverage Ratio. The Parent Company shall not permit
the Interest Coverage Ratio as of the end of any fiscal quarter to be less than
the following ratios for the following fiscal quarters:
Fiscal Quarters Ending Maximum Ratio
---------------------- -------------
June 30, 2002, September 30, 2002,
December 31, 2002, March 31, 2003
and June 30, 2003 3.00 to 1.00
September 30, 2003 and December 31, 2003 3.25 to 1.00
March 31, 2004, June 30, 2004,
September 30, 2004 and December 31, 2004 4.00 to 1.00
March 31, 2005 and thereafter 4.50 to 1.00
; provided, however, after a Responsible Officer delivers the Financial Covenant
Certification, then the Parent Company shall not permit the Interest Coverage
Ratio as of the end of any fiscal quarter to be less than the following ratios
for the following fiscal quarters:
Fiscal Quarters Ending Maximum Ratio
---------------------- -------------
Beginning with the fiscal quarter with
respect to which a Responsible Officer
delivers the Financial Covenant
Certification until December 31, 2003 3.25 to 1.00
March 31, 2004, June 30, 2004,
September 30, 2004 and December 31, 2004 4.00 to 1.00
March 31, 2005 and thereafter 4.50 to 1.00
(d) Section 6.18. Section 6.18 is amended in its entirety as follows:
Section 6.18 Maximum Debt to Capitalization Ratio. The Parent Company
shall not permit the ratio of (a) Consolidated Net Debt to (b) Total
Capitalization ("Maximum Debt to Capitalization Ratio") as of the end of any
fiscal quarter to be greater than the following ratios for the following fiscal
quarters:
3
Fiscal Quarters Ending Maximum Ratio
---------------------- -------------
June 30, 2002, September 30, 2002,
December 31, 2002, March 31, 2003,
June 30, 2003 and September 30, 2003 55%
December 31, 2003 50%
March 31, 2004, June 30, 2004,
September 30, 2004 and December 31, 2004 45%
March 31, 2005 and thereafter 35%
; provided, however, after a Responsible Officer delivers the Financial Covenant
Certification, then the Parent Company shall not permit the Maximum Debt to
Capitalization Ratio as of the end of any fiscal quarter to be greater than the
following ratios for the following fiscal quarters:
Fiscal Quarters Ending Maximum Ratio
---------------------- -------------
Beginning with the fiscal quarter with
respect to which a Responsible Officer
delivers the Financial Covenant
Certification until December 31, 2003 50%
March 31, 2004, June 30, 2004,
September 30, 2004 and December 31, 2004 45%
March 31, 2005 and thereafter 35%
Section 3. Representations and Warranties. Each of the Credit Parties
represents and warrants that (a) the execution, delivery and performance of this
Amendment are within the corporate power and authority of such Credit Party and
have been duly authorized by appropriate proceedings, (b) the Liens under the
Security Documents are valid and subsisting and secure the Obligations under the
Credit Agreement as amended hereby, (c) this Amendment constitutes the legal,
valid, and binding obligation of the Credit Parties enforceable in accordance
with its terms, except as limited by applicable bankruptcy, insolvency,
reorganization, moratorium or similar laws affecting the rights of creditors
generally and general principles of equity, (d) the representations and
warranties of each of the Credit Parties contained in the Credit Documents are
true and correct as of the date hereof, except to the extent such
representations and warranties relate solely to an earlier date and (e) no
Default has occurred and is continuing as of the date hereof.
Section 4. Effectiveness. The Credit Agreement shall be amended as
provided in this Amendment effective on the date first set forth above when:
4
(a) the Administrative Agent shall have received this Amendment duly
executed by the Borrower, the Guarantors, the Required Term Lenders and the
Required Revolving Lenders; and
(b) the Borrower shall have paid to the Administrative Agent for the
account of each Term Lender approving this Amendment a non-refundable amendment
fee equal to 0.125% of the aggregate unpaid principal amount of such Term
Lender's Term Loans.
Section 5. Reaffirmation of Guaranty. Each of the Guarantors hereby
reaffirms its obligations under Article VIII of the Credit Agreement and agrees
to remain liable for the repayment of the Obligations, as such Obligations have
been amended hereby.
Section 6. Choice of Law. This Amendment shall be governed by, and
construed and enforced in accordance with, the laws of the State of New York.
Section 7. Counterparts. This Amendment may be signed in any number of
separate counterparts (including facsimile transmission), all of which when
taken together shall be deemed to be an original.
Section 8. Amendment to Revolving Credit Agreement. Each of the Term
Lenders hereby consents to Amendment No. 1 dated effective as of September 29,
2002 among the Borrower, the Guarantors, the Revolving Lenders and
Administrative Agent (as defined in the Revolving Credit Agreement).
5
Executed effective as of the 29th day of September, 2002.
BORROWER:
PRIDE OFFSHORE, INC.
By: /s/ EARL W. MCNIEL
---------------------------------------
Earl W. McNiel
Treasurer
GUARANTORS:
PRIDE INTERNATIONAL, INC.
By: /s/ EARL W. MCNIEL
---------------------------------------
Earl W. McNiel
Chief Financial Officer
MEXICO DRILLING LIMITED LLC
PRIDE CENTRAL AMERICA, LLC
PRIDE DRILLING, LLC
PRIDE NORTH AMERICA LLC
PRIDE OFFSHORE INTERNATIONAL LLC
PRIDE SOUTH PACIFIC LLC
By: /s/ EARL W. MCNIEL
---------------------------------------
Earl W. McNiel
Treasurer
ADMINISTRATIVE AGENT:
CREDIT LYONNAIS NEW YORK BRANCH,
as Administrative Agent
By: /s/ O. Audemard
---------------------------------------
Name: O. Audemard
-------------------------------------
Title: Senior Vice President
------------------------------------
TERM LENDERS:
ADDISON CDO, LIMITED
By: Pacific Investment Management Company
LLC, as its Investment Advisor
By: /s/ MOHAN V. PHANSALKAR
---------------------------------------
Name: Mohan V. Phansalkar
-------------------------------------
Title: Executive Vice President
------------------------------------
AIG SUNAMERICA LIFE ASSURANCE COMPANY (dba
Anchor National Life Insurance Company)
By: /s/ JULIE BOTHAMLEY
---------------------------------------
Name: Julie Bothamley
-------------------------------------
Title: Vice President
------------------------------------
AMMC CDO I, LIMITED
By: American Money Management Corp.,
as Collateral Manager
By: /s/ DAVID P. MEYER
---------------------------------------
Name: David P. Meyer
-------------------------------------
Title: Vice President
------------------------------------
AMMC CDO II, LIMITED
By: American Money Management Corp.,
as Collateral Manager
By: /s/ DAVID P. MEYER
---------------------------------------
Name: David P. Meyer
-------------------------------------
Title: Vice President
------------------------------------
APEX (IDM) CDO I, LTD.
By: David L. Babson & Company Inc.,
as Collateral Manager
By: /s/ WILLIAM A. HAYES
---------------------------------------
Name: William A. Hayes
-------------------------------------
Title: Managing Director
------------------------------------
AURUM CLO 2002-1 LTD.
By: Stein Roe & Farnham Incorporated,
as Investment Manager
By: /s/ JAMES R. FELLOWS
---------------------------------------
Name: James R. Fellows
-------------------------------------
Title: Sr. Vice President &
------------------------------------
Portfolio Manager
------------------------------------
BALLYROCK CDO I LIMITED
By: BALLYROCK Investment Advisors LLC,
as Collateral Manager
By: /s/ LISA RYMUT
---------------------------------------
Name: Lisa Rymut
-------------------------------------
Title: Assistant Treasurer
------------------------------------
BEDFORD CDO, LIMITED (#1276)
By: Pacific Investment Management Company
LLC, as its Investment Advisor
By: /s/ MOHAN V. PHANSALKAR
---------------------------------------
Name: Mohan V. Phansalkar
-------------------------------------
Title: Executive Vice President
------------------------------------
BLACK DIAMOND INTERNATIONAL
FUNDING, LTD.
By: /s/ ALAN GORKISH
---------------------------------------
Name: Alan Gorkish
-------------------------------------
Title: Director
------------------------------------
BLUE SQUARE FUNDING LIMITED SERIES 3
By: Deutsche Bank Trust Co. Americas,
FKA Bankers Trust Co.
By: /s/ SUSAN N. ANDERSON
---------------------------------------
Name: Susan N. Anderson
-------------------------------------
Title: Assistant Vice President
------------------------------------
DEBT STRATEGIES FUND, INC.
By: /s/ J. MATTEO
---------------------------------------
Name: J. Matteo
-------------------------------------
Title:
------------------------------------
DELANO COMPANY (#274)
By: Pacific Investment Management Company
LLC, as its Investment Advisor
By: /s/ MOHAN V. PHANSALKAR
---------------------------------------
Name: Mohan V. Phansalkar
-------------------------------------
Title: Executive Vice President
------------------------------------
ELC (CAYMAN) LTD. 1999-III
By: David L. Babson & Company Inc.,
as Collateral Manager
By: /s/ WILLIAM A. HAYES
---------------------------------------
Name: William A. Hayes
-------------------------------------
Title: Managing Director
------------------------------------
ELC (CAYMAN) LTD. 2000-I
By: David L. Babson & Company Inc.,
as Collateral Manager
By: /s/ WILLIAM A. HAYES
---------------------------------------
Name: William A. Hayes
-------------------------------------
Title: Managing Director
------------------------------------
ELC (CAYMAN) LTD. CDO SERIES 1999-I
By: David L. Babson & Company Inc.,
as Collateral Manager
By: /s/ WILLIAM A. HAYES
---------------------------------------
Name: William A. Hayes
-------------------------------------
Title: Managing Director
------------------------------------
EMERALD ORCHARD LIMITED
By: /s/ SUSAN K. STRONG
---------------------------------------
Name: Susan K. Strong
-------------------------------------
Title: Attorney-in-fact
------------------------------------
FIDELITY ADVISOR SERIES II
By: Fidelity Advisor Floating Rate High
Income Fund (161)
By: /s/ JOHN H. COSTELLO
---------------------------------------
Name: John H. Costello
-------------------------------------
Title: Assistant Treasurer
------------------------------------
GALAXY CLO 1999-1, LTD.
By: SAI Investment Advisor, Inc.,
its Collateral Manager
By: /s/ THOMAS G. BRANDT
---------------------------------------
Name: Thomas G. Brandt
-------------------------------------
Title: Authorized Agent
------------------------------------
HAMILTON CDO, LTD.
By: Stanfield Capital Partners LLC,
as its Collateral Manager
By: /s/ CHRISTOPHER A. BONDY
---------------------------------------
Name: Christopher A. Bondy
-------------------------------------
Title: Partner
------------------------------------
HARCH CLO I, LTD.
By: /s/ MICHAEL E. LEWITT
---------------------------------------
Name: Michael E. Lewitt
-------------------------------------
Title: Authorized Signatory
------------------------------------
HIGHLAND LOAN FUNDING VII LTD.
By: Highland Capital Management, L.P.,
as Collateral Manager
By: /s/ MARK OKADA
---------------------------------------
Name: Mark Okada
-------------------------------------
Title: Chief Investment Officer
------------------------------------
IKB CAPITAL CORPORATION
By: /s/ DAVID SNYDER
---------------------------------------
Name: David Snyder
-------------------------------------
Title: President
------------------------------------
INDOSUEZ CAPITAL FUNDING VI, LIMITED
By: Indosuez Capital,
as Collateral Manager
By: /s/ CHARLES KOBAYASHI
---------------------------------------
Name: Charles Kobayashi
-------------------------------------
Title: Principal and Portfolio Manager
------------------------------------
JISSEKIKUN FUNDING, LTD. (#1288)
By: Pacific Investment Management Company
LLC, as its Investment Advisor
By: /s/ MOHAN V. PHANSALKAR
---------------------------------------
Name: Mohan V. Phansalkar
-------------------------------------
Title: Executive Vice President
------------------------------------
KZH SOLEIL LLC
By: /s/ ROWENA SMITH
---------------------------------------
Name: Rowena Smith
-------------------------------------
Title: Authorized Agent
------------------------------------
KZH SOLEIL-2 LLC
By: /s/ ROWENA SMITH
---------------------------------------
Name: Rowena Smith
-------------------------------------
Title: Authorized Agent
------------------------------------
LCM I LIMITED PARTNERSHIP
By: Lyon Capital Management LLC,
as Attorney in Fact
By: /s/ MARK A. CAMPELLONE
---------------------------------------
Name: Mark A. Campellone
-------------------------------------
Title: Senior Portfolio Manager
------------------------------------
LONGHORN CDO (Cayman) LTD
By: Merrill Lynch Investment Managers,
L.P., as Investment Advisor
By: /s/ J. MATTEO
---------------------------------------
Name: J. Matteo
-------------------------------------
Title:
------------------------------------
LONGHORN CDO II, LTD
By: Merrill Lynch Investment Managers,
L.P., as Investment Advisor
By: /s/ J. MATTEO
---------------------------------------
Name: J. Matteo
-------------------------------------
Title:
------------------------------------
MADISON AVENUE CDO IV LTD
By:
---------------------------------------
Name:
-------------------------------------
Title:
------------------------------------
MASTER SENIOR FLOATING RATE TRUST
By: /s/ J. MATTEO
---------------------------------------
Name: J. Matteo
-------------------------------------
Title:
------------------------------------
MERRILL LYNCH GLOBAL INVESTMENT SERIES: BANK
LOAN INCOME PORTFOLIO
By: Merrill Lynch Investment Managers,
L.P., as Investment Advisor
By: /s/ J. MATTEO
---------------------------------------
Name: J. Matteo
-------------------------------------
Title:
------------------------------------
MERRILL LYNCH GLOBAL INVESTMENT SERIES:
INCOME STRATEGIES PORTFOLIO
By: Merrill Lynch Investment Managers,
L.P., as Investment Advisor
By: /s/ J. MATTEO
---------------------------------------
Name: J. Matteo
-------------------------------------
Title:
------------------------------------
MERRILL LYNCH PRIME RATE PORTFOLIO
By: Merrill Lynch Investment Managers,
L.P., as Investment Advisor
By: /s/ J. MATTEO
---------------------------------------
Name: J. Matteo
-------------------------------------
Title:
------------------------------------
MERRILL LYNCH SENIOR FLOATING RATE
FUND, INC.
By: /s/ J. MATTEO
---------------------------------------
Name: J. Matteo
-------------------------------------
Title:
------------------------------------
METROPOLITAN LIFE INSURANCE COMPANY
By:
---------------------------------------
Name:
-------------------------------------
Title:
------------------------------------
MOUNTAIN CAPITAL CLO I LTD.
By: /s/ DARREN P. RILEY
---------------------------------------
Name: Darren P. Riley
-------------------------------------
Title: Director
------------------------------------
MOUNTAIN CAPITAL CLO II LTD.
By: /s/ DARREN P. RILEY
---------------------------------------
Name: Darren P. Riley
-------------------------------------
Title: Director
------------------------------------
NATEXIS BANQUES POPULAIRES
By: /s/ TIMOTHY L. POLVADO
---------------------------------------
Name: Timothy L. Polvado
-------------------------------------
Title: Vice President & Group Manager
------------------------------------
By: /s/ RENAUD J. D' HERBES
---------------------------------------
Name: Renaud J. d'Herbes
-------------------------------------
Title: Senior Vice President
and Regional Manager
------------------------------------
NORDEA BANK FINALND PLC, NEW YORK
By: /s/ HANS CHR. KJELSRUD
---------------------------------------
Name: Hans Chr. Kjelsrud
-------------------------------------
Title: Senior Vice President
------------------------------------
By: /s/ MARTIN LUNDER
---------------------------------------
Name: Martin Lunder
-------------------------------------
Title: Senior Vice President
------------------------------------
OCTAGON INVESTMENT PARTNERS II, LLC
By: Octagon Credit Investors, LLC, as
sub-investment manager
By: /s/ MICHAEL B. NECHAMKLN
---------------------------------------
Name: Michael B. Nechamkln
-------------------------------------
Title: Portfolio Manager
------------------------------------
OCTAGON INVESTMENT PARTNERS III, LTD.
By: Octagon Credit Investors, LLC, as
Portfolio Manager
By: /s/ MICHAEL B. NECHAMKLN
---------------------------------------
Name: Michael B. Nechamkln
-------------------------------------
Title: Portfolio Manager
------------------------------------
OCTAGON INVESTMENT PARTNERS IV, LTD.
By: Octagon Credit Investors, LLC, as
Collateral manager
By: /s/ MICHAEL B. NECHAMKLN
---------------------------------------
Name: Michael B. Nechamkln
-------------------------------------
Title: Portfolio Manager
------------------------------------
PPM SHADOW CREEK FUNDING LLC
By: /s/ DIANA L. MUSHILL
---------------------------------------
Name: Diana L. Mushill
-------------------------------------
Title: Asst. Vice President
------------------------------------
RIVIERA FUNDING LLC
By: /s/ DIANA L. MUSHILL
---------------------------------------
Name: Diana L. Mushill
-------------------------------------
Title: Asst. Vice President
------------------------------------
ROYALTON COMPANY (#280)
By: Pacific Investment Management Company
LLC, as its Investment Advisor
By: /s/ MOHAN V. PHANSALKAR
---------------------------------------
Name: Mohan V. Phansalkar
-------------------------------------
Title: Executive Vice President
------------------------------------
SAN JOAQUIN CDO I, LIMITED (#1282)
By: Pacific Investment Management Company
LLC, as its Investment Advisor
By: /s/ MOHAN V. PHANSALKAR
---------------------------------------
Name: Mohan V. Phansalkar
-------------------------------------
Title: Executive Vice President
------------------------------------
SENIOR HIGH INCOME PORTFOLIO, INC.
By: /s/ J. MATTEO
---------------------------------------
Name: J. Matteo
-------------------------------------
Title:
------------------------------------
SEQUILS-MAGNUM, LTD. (#1280)
By: Pacific Investment Management Company
LLC, as its Investment Advisor
By: /s/ MOHAN V. PHANSALKAR
---------------------------------------
Name: Mohan V. Phansalkar
-------------------------------------
Title: Executive Vice President
------------------------------------
SL LOANS I LIMITED
By: Highland Capital Management, L.P.,
as Attorney-in-Fact
By: /s/ MARK OKADA
---------------------------------------
Name: Mark Okada
-------------------------------------
Title: Chief Investment Officer
------------------------------------
STANFIELD ARBITRAGE CDO, LTD.
By: Stanfield Capital Partners LLC,
as its Collateral Manager
By: /s/ CHRISTOPHER A. BONDY
---------------------------------------
Name: Christopher A. Bondy
-------------------------------------
Title: Partner
------------------------------------
STANFIELD CLO, LTD.
By: Stanfield Capital Partners LLC,
as its Collateral Manager
By: /s/ CHRISTOPHER A. BONDY
---------------------------------------
Name: Christopher A. Bondy
-------------------------------------
Title: Partner
------------------------------------
STANFIELD QUATTRO CLO, LTD.
By: Stanfield Capital Partners LLC,
as its Collateral Manager
By: /s/ CHRISTOPHER A. BONDY
---------------------------------------
Name: Christopher A. Bondy
-------------------------------------
Title: Partner
------------------------------------
STEIN ROE & FARNHAM CLO I LTD.
By: Stein Roe & Farnham Incorporated,
as Portfolio Manager
By: /s/ JAMES R. BELLOWS
-------------------------------------------
Name: James R. Bellows
-----------------------------------------
Title: Sr. Vice President & Portfolio Manager
----------------------------------------
TORONTO DOMINION (New York), Inc.
By: /s/ SUSAN STRONG
---------------------------------------
Name: Susan Strong
-------------------------------------
Title: Vice President
------------------------------------
TRS1 LLC
By: /s/ JOHN PINEIRO
---------------------------------------
Name: John Pineiro
-------------------------------------
Title: Attorney-in-fact
------------------------------------
TRYON CLO LTD. 2000-I
By: First Union Institutional Debt
Management, as Collateral Manager
By:
---------------------------------------
Name:
-------------------------------------
Title:
------------------------------------
VENTURE CDO 2002, LIMITED
By: Barclays Capital Asset Management
Limited, its investment advisor,
By: Barclays Bank PLC, New York Branch,
its sub-advisor
By: /s/ Martin F. Davey
---------------------------------------
Name: Martin F. Davey
-------------------------------------
Title: Director
------------------------------------
VENTURE II CDO 2002, LIMITED
By: Barclays Capital Asset Management
Limited, its investment advisor
By: Barclays Bank PLC, New York Branch,
its sub-advisor
By: /s/ Martin F. Davey
---------------------------------------
Name: Martin F. Davey
-------------------------------------
Title: Director
------------------------------------
WINDSOR LOAN FUNDING, LIMITED
By: Stanfield Capital Partners LLC,
as its Collateral Manager
By: /s/ CHRISTOPHER A. BONDY
---------------------------------------
Name: Christopher A. Bondy
-------------------------------------
Title: Partner
------------------------------------
WRIGLEY CDO, LTD. (#1285)
By: Pacific Investment Management Company
LLC, as its Investment Advisor
By: /s/ MOHAN V. PHANSALKAR
---------------------------------------
Name: Mohan V. Phansalkar
-------------------------------------
Title: Executive Vice President
------------------------------------