Letter Amendment to Revolving Credit Agreement between Technitrol and Bank of America

Summary

Technitrol has requested a $50 million reduction in the total commitment under its Revolving Credit Agreement with Bank of America, N.A., effective as of March 6, 2003. The reduction applies only to the US Facility, lowering the total commitment from $175 million to $125 million, while the Offshore Facility remains unchanged at $75 million. Each lender's commitment percentage will be adjusted proportionally. No other terms of the agreement are affected by this amendment.

EX-10.14 3 d55418_ex10-14.txt LETTER AMENDMENT TO REVOLVING CREDIT AGREEMENT Exhibit 10.14 Letter modification to Revolving Credit Agreement March 6, 2003 Mr. John W. Pocalyko Managing Director Bank of America 335 Madison Avenue, 5th Floor New York, NY 10017 Dear John: This letter requests the following action pertaining to the Credit Facility dated June 20, 2001 between Technitrol and Bank of America, N.A. as Agent. As permitted by Section 2.07, the US Facility Borrowers are hereby providing notice of a reduction of $50.0 million in the Total Commitment. The $50 million reduction should be made in the US Facility and thus each Lender's Applicable Commitment Percentage should be adjusted on a prorata basis. No change in the Offshore Facility is requested and thus the result of this action is to reduce the Total Commitment from $175.0 Million to $125.0 Million; leaving the Offshore Facility at $75.0 Million. Please advise me of the effective date of the reduction. Respectfully, /s/ Thomas Considine, Jr. - ------------------------- Thomas Considine, Jr. Vice President and Treasurer CC: Dennis Amato Ann Marie Janus Sam Mason