EXHIBIT 4.7
AMENDMENT TO NON-QUALIFIED STOCK OPTION AGREEMENT
WHEREAS, CTB International Corp. (hereafter "CTB") and
______________________________ (hereafter "Optionee"), hereby agree to amend
the Non-Qualified Stock Option Agreement dated January 4, 1996, as follows:
1. Annex I of the Agreement entitled "Performance Targets" is
hereby deleted in its entirety and replaced with the attached Annex I.
IN WITNESS WHEREOF the parties have executed this Amendment to the
Non-Qualified Stock Option Agreement on _________________________, 1999.
CTB INTERNATIONAL CORP. OPTIONEE
By:__________________________ _______________________________
Title:_______________________
ANNEX I
Performance Targets
(in millions of $)
For Fiscal Cumulative
Year Ending EBITDA EBITDA
December 31 Target Target
1996 $21.6 $21.6
1997 $28.7 $50.3
1998 $33.3 $83.6
1999 $41.9 $125.5
2000 $47.9 $173.4
