Increase Supplement to Credit Agreement among Tiffany & Co. and Lenders, dated September 28, 2004

Summary

This agreement is an amendment to a prior credit agreement between Tiffany & Co. (and its affiliates) and a group of lenders, including The Bank of New York as Administrative Agent. The supplement increases the total core currency loan commitments from $144 million to $194 million, specifying each lender’s new commitment. The agreement becomes effective once all parties sign and required fees are paid. Tiffany & Co. confirms that no default exists and all prior representations remain true. The agreement also addresses compensation for lenders’ expenses related to the increase.

EX-10.130.C 2 y07158exv10w130wc.txt INCREASE SUPPLEMENT TO CREDIT AGREEMENT Exhibit 10.130c Tiffany & Co. Report on Form 10-K INCREASE SUPPLEMENT INCREASE SUPPLEMENT, dated as of September 28, 2004, to the Credit Agreement, dated as of November 5, 2001, among Tiffany & Co., Tiffany and Company, Tiffany & Co. International, the other Borrowers party thereto, the Lenders party thereto, and The Bank of New York, as Administrative Agent (as amended and in effect on the date hereof, the "Credit Agreement"). Capitalized terms used herein which are not otherwise defined herein shall have the meanings assigned to such terms in the Credit Agreement. 1. Pursuant to Section 2.7(c) of the Credit Agreement, the Parent hereby requests each Lender to increase its Core Currency Commitment as more specifically set forth below such that, immediately after giving effect to this Increase Supplement, the Aggregate Core Currency Commitments shall be $194,000,000 and the Aggregate Individual Currency Commitments shall remain at $56,000,000. 2. Upon the effectiveness of this Increase Supplement, each of the Lenders shall be deemed to have increased its Core Currency Commitment as follows:

3. Upon the effectiveness of this Increase Supplement, Exhibit A-1 and Exhibit A-2 attached hereto shall replace Exhibit A-1 and Exhibit A-2 to the Credit Agreement. 4. This Increase Supplement shall become effective upon receipt by the Administrative Agent of: a) a copy of this Increase Supplement executed by the Administrative Agent, the Issuing Bank, the Swing Line Lender and each Lender; and b) a fee for the account of each Lender in an amount equal to five basis points (0.05%) of the amount of the increase in such Lender's Core Currency Commitment as shown in Paragraph 2 above. 5. Upon the effectiveness of this Increase Supplement each Lender shall (i) be deemed to have entered into a master assignment and acceptance agreement with respect to its Core Currency Commitment and outstanding Revolving Loans and (ii) make the necessary payment to the Administrative Lender to reflect the assignment to it of Revolving Loans, in each case as contemplated by Section 2.7(c)(C) of the Credit Agreement. 6. Each Borrower shall compensate each Lender in accordance with Section 3.5 of the Credit Agreement for all reasonable losses, expenses and liabilities incurred by such Lender as a result of the increases contemplated herein. 7. The Parent hereby represents and warrants to the Administrative Agent and each Lender that, at the time of and immediately after giving effect to this Increase Supplement, no Default or Event of Default shall have occurred and be continuing and each of the representations and warranties contained in the Credit Agreement are true and correct with the same effect as though such representations and warranties had been made both immediately before and after giving effect to this Increase Supplement except to the extent that any representation or warranty under Section 4.1 of the Credit Agreement expressly relates to an earlier date. [signature pages follow] 2 TIFFANY INCREASE SUPPLEMENT IN WITNESS WHEREOF, this Increase Supplement has been executed and delivered as of the day and year first above written. TIFFANY & CO., a Delaware corporation By: /s/ James N. Fernandez ------------------------------------------- Name: James N. Fernandez ----------------------------------------- Title: Executive Vice President and Chief ---------------------------------------- Financial Officer ---------------------------------------- TIFFANY AND COMPANY, a New York corporation By: /s/ Patrick B. Dorsey ------------------------------------------- Name: Patrick B. Dorsey ----------------------------------------- Title: Senior Vice President, General ---------------------------------------- Counsel and Secretary ---------------------------------------- TIFFANY & CO. INTERNATIONAL, a Delaware corporation By: /s/ Patrick B. Dorsey ------------------------------------------- Name: Patrick B. Dorsey ----------------------------------------- Title: Vice President and Secretary ---------------------------------------- 3 TIFFANY INCREASE SUPPLEMENT SOCIETE FRANCAISE POUR LE DEVELOPMENT DE LA PORCELAINE D'ART (S.A.R.L.), a French corporation By: /s/ James N. Fernandez ------------------------------------------- Name: James N. Fernandez ----------------------------------------- Title: Authorized Signatory ---------------------------------------- TIFFANY & CO. ITALIA S.P.A., an Italian corporation By: /s/ James N. Fernandez ------------------------------------------- Name: James N. Fernandez ----------------------------------------- Title: Attorney in Fact ---------------------------------------- TIFFANY & CO. JAPAN INC., a Delaware corporation By: /s/ Patrick B. Dorsey ------------------------------------------- Name: Patrick B. Dorsey ----------------------------------------- Title: Vice President and Secretary ---------------------------------------- TIFFANY & CO. PTE., LTD., a Singapore corporation By: /s/ James N. Fernandez ------------------------------------------- Name: James N. Fernandez ----------------------------------------- Title: Authorized Signatory ---------------------------------------- TIFFANY & CO., a United Kingdom corporation By: /s/ James N. Fernandez ------------------------------------------- Name: James N. Fernandez ----------------------------------------- Title: Chief Financial Officer ---------------------------------------- 4 TIFFANY INCREASE SUPPLEMENT TIFFANY & CO. WATCH CENTER AG, a Swiss corporation By: /s/ James N. Fernandez ------------------------------------------- Name: James N. Fernandez ----------------------------------------- Title: Authorized Signatory ---------------------------------------- TIFFANY KOREA LTD., a Korean corporation By: /s/ James N. Fernandez ------------------------------------------- Name: James N. Fernandez ----------------------------------------- Title: Chief Financial Officer ---------------------------------------- TIFFANY & CO. MEXICO, S.A. de C.V., a Mexican corporation By: /s/ James N. Fernandez ------------------------------------------- Name: James N. Fernandez ----------------------------------------- Title: Vice President ---------------------------------------- TIFFANY & CO. OF NEW YORK LIMITED, a Hong Kong corporation By: /s/ James N. Fernandez ------------------------------------------- Name: James N. Fernandez ----------------------------------------- Title: Attorney by a Power of Attorney ---------------------------------------- SINDAT LIMITED, a Hong Kong corporation By: /s/ James N. Fernandez ------------------------------------------- Name: James N. Fernandez ----------------------------------------- Title: Attorney by a Power of Attorney ---------------------------------------- 5 TIFFANY INCREASE SUPPLEMENT AGREED: THE BANK OF NEW YORK, as Administrative Agent, Issuing Bank, Swing Line Lender and as a Lender By: /s/ Johna M. Fidanza --------------------------------------- Name: Johna M. Fidanza ------------------------------------- Vice President - ------------------------------------------ ABN AMRO BANK N.V By: /s/ Ronald C. Spurga /s/ Frederick G. Jennings --------------------------------------- Name: Ronald C. Spurga Frederick G. Jennings ------------------------------------- Title: Vice President Vice President ------------------------------------ JPMORGAN CHASE BANK By: /s/ Wendy Segal --------------------------------------- Name: Wendy Segal ------------------------------------- Title: Vice President ------------------------------------ MIZUHO CORPORATE BANK, LTD. By: /s/ Bertram H. Tang --------------------------------------- Name: Bertram H. Tang ------------------------------------- Title: Senior Vice President & Team Leader -------------------------------------- U.S. BANK, NATIONAL ASSOCIATION By: /s/ John Franceschi --------------------------------------- Name: John Franceschi ------------------------------------- Title: Vice President ------------------------------------ FLEET NATIONAL BANK/ FLEET PRECIOUS METALS INC. By: /s/ Richard M. Seufert --------------------------------------- Name: Richard M. Seufert ------------------------------------- Title: Sr. Vice President ------------------------------------ 6 TIFFANY EXHIBIT A-1 LIST OF CORE CURRENCY COMMITMENTS

7 TIFFANY EXHIBIT A-2 LIST OF INDIVIDUAL CURRENCY COMMITMENTS AUSTRALIAN DOLLARS - ------------------ Lender Individual Currency Commitment ------ ------------------------------ Mizuho Corporate Bank, Ltd. $4,000,000 U.S. Bank, National Association $2,000,000 HONG KONG DOLLARS - ----------------- Lender Individual Currency Commitment ------ ------------------------------ The Bank of New York $0 EUROS (FRANCE) - -------------- Lender Individual Currency Commitment ------ ------------------------------ JPMorgan Chase Bank $5,000,000 ABN AMRO Bank N.V. $5,000,000 EUROS (ITALY) - ------------- Lender Individual Currency Commitment ------ ------------------------------ JPMorgan Chase Bank $15,000,000 KOREAN WON - ---------- Lender Individual Currency Commitment ------ ------------------------------ The Bank of New York $12,000,000 MEXICAN PESOS - ------------- Lender Individual Currency Commitment ------ ------------------------------ Fleet National Bank/Fleet Precious Metals Inc. $5,000,000 8 NEW TAIWAN DOLLARS - ------------------ Lender Individual Currency Commitment ------ ------------------------------ The Bank of New York $3,000,000 SINGAPORE DOLLARS - ----------------- Lender Individual Currency Commitment ------ ------------------------------ The Bank of New York $0 SWISS FRANCS - ------------ Lender Individual Currency Commitment ------ ------------------------------ JPMorgan Chase Bank $2,500,000 U.S. Bank, National Association $2,500,000 9