0000052466-03-000029 Sample Contracts

THIRD AMENDMENT AND WAIVER TO THIRD AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT
Revolving Credit Agreement • May 15th, 2003 • Ionics Inc • Special industry machinery, nec • Massachusetts

Third Amendment and Waiver, dated as of April 14, 2003, to Third Amended and Restated Revolving Credit Agreement (“this Amendment”), by and among IONICS, INCORPORATED, a Massachusetts corporation (the “Borrower”), FLEET NATIONAL BANK and the other lending institutions listed on Schedule 1 to the Credit Agreement (as hereinafter defined) (the “Banks”), amending certain provisions of the Third Amended and Restated Revolving Credit Agreement, dated as of June 29, 2001 (as amended by the First Amendment and Waiver, dated as of December 21, 2001, and the Second Amendment and Waiver, dated as of March 28, 2002, and as further amended and in effect from time to time, the “Credit Agreement”) by and among the Borrower, the Banks and FLEET NATIONAL BANK as agent for the Banks (in such capacity, the “Agent”). Terms not otherwise defined herein which are defined in the Credit Agreement shall have the same respective meanings herein as therein.

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IONICS, INCORPORATED Stock Option Agreement
Stock Option Agreement • May 15th, 2003 • Ionics Inc • Special industry machinery, nec • Massachusetts

This Stock Option Agreement (the “Agreement”) made as of this 7th day of May, 2003, by and between IONICS, INCORPORATED, a Massachusetts corporation, (the “Company”) and __________________ (the “Director”).

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