DAKOTA GROWERS PASTA CO
EX-10.2
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>4
<FILENAME>j3202_ex10d2.htm
<DESCRIPTION>EX-10.2
<TEXT>
<html>



<head>



<title>Exhibit 10</title>



</head>



<body>



<div style="font-family:'Times New Roman';">



<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit

10.2</font></b></p>



<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">MLA

No. E539B</font></p>



<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">AMENDMENT</font></b></p>



<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <b><font style="font-weight:bold;">THIS

AMENDMENT</font></b> is entered into as of January 24, 2002, between <b><font style="font-weight:bold;">CoBANK, ACB</font></b>

(&#147;CoBank&#148;) and <b><font style="font-weight:bold;">DAKOTA GROWERS PASTA COMPANY</font></b>, Carrington, North Dakota (the

&#147;Company&#148;).</font></p>



<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">BACKGROUND</font></b></p>



<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; CoBank

and the Company are parties to a Master Loan Agreement dated June 20, 2001

(such agreement, as previously amended, is hereinafter referred to as the

&#147;MLA&#148;).&#160; CoBank and the Company now

desire to amend the MLA.&#160; For that

reason, and for valuable consideration (the receipt and sufficiency of which

are hereby acknowledged), CoBank and the Company agree as follows:</font></p>



<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p style="margin:0in .25in .0001pt 0in;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section

10 (C) of the MLA is hereby amended and restated to read as follows:</font></p>



<p style="margin:0in .25in .0001pt 0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p style="margin:0in .25in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SECTION 10.&#160;&#160;&#160;&#160;&#160;&#160; Financial Covenants.&#160; </font></b><font size="2" style="font-size:10.0pt;">Unless

otherwise agreed to in writing, while this agreement is in effect:</font></p>



<p style="margin:0in .25in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p style="margin:0in .25in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; <b><font style="font-weight:bold;">(C)&#160;&#160;&#160;&#160;&#160; Debt

Service Coverage Ratio. </font></b>&#160;The

Company and its consolidated Subsidiary, on a combined basis, will have at the

end of each fiscal year of the Company, a &#147;Debt Service Coverage Ratio&#148; (as

defined below) for that year of not less than 1.25 to 1.&#160; For purposes hereof, the term &#147;Debt Service

Coverage Ratio&#148; shall mean the following (all as calculated for the applicable

year in accordance with GAAP consistently applied):&#160; (i) net income (after taxes), minus cash patronage refunds and

dividends payable in subsequent fiscal year based on the current fiscal year&#146;s

net income, minus non-cash patronage income, minus retains revolved, plus

equity retains, plus depreciation and amortization, plus lease payments, plus

(or minus) extraordinary losses (or gains); to (ii) all principal payments due

within the year on all long-term debt, plus lease payments.</font></p>



<p style="margin:0in .25in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Except as set forth in this

amendment, the MLA, including all amendments thereto, shall continue in full

force and effect as written.</font></p>



<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; IN

WITNESS WHEREOF</font></b><font size="2" style="font-size:10.0pt;">, the parties have caused this amendment to be

executed by their duly authorized officers as of the date shown above.</font></p>



<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">

 <tr>

  <td width="50%" colspan="4" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">

  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CoBANK, ACB</font></b></p>

  </td>

  <td width="50%" colspan="3" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">

  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">DAKOTA GROWERS PASTA COMPANY</font></b></p>

  </td>

 </tr>

 <tr>

  <td width="19%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:19.92%;">

  <p style="font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="30%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:30.08%;">

  <p style="font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.4%;">

  <p style="font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="43%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:43.6%;">

  <p style="font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

 </tr>

 <tr>

  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.32%;">

  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>

  </td>

  <td width="25%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext .5pt;padding:0in .7pt 0in .7pt;width:25.38%;">

  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Rebecca Kennedy</font></p>

  </td>

  <td width="19%" valign="top" style="padding:0in .7pt 0in .7pt;width:19.3%;">

  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.4%;">

  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>

  </td>

  <td width="25%" valign="top" style="border:none;border-bottom:solid windowtext .5pt;padding:0in .7pt 0in .7pt;width:25.02%;">

  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Thomas Friezen</font></p>

  </td>

  <td width="18%" valign="top" style="padding:0in .7pt 0in .7pt;width:18.58%;">

  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

 </tr>

 <tr>

  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.32%;">

  <p style="font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="44%" colspan="3" valign="top" style="padding:0in .7pt 0in .7pt;width:44.68%;">

  <p style="font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.4%;">

  <p style="font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="43%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:43.6%;">

  <p style="font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

 </tr>

 <tr>

  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.32%;">

  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>

  </td>

  <td width="25%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext .5pt;padding:0in .7pt 0in .7pt;width:25.38%;">

  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Assistant Corporate

  Secretary</font></p>

  </td>

  <td width="19%" valign="top" style="padding:0in .7pt 0in .7pt;width:19.3%;">

  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.4%;">

  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>

  </td>

  <td width="25%" valign="top" style="border:none;border-bottom:solid windowtext .5pt;padding:0in .7pt 0in .7pt;width:25.02%;">

  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">CFO</font></p>

  </td>

  <td width="18%" valign="top" style="padding:0in .7pt 0in .7pt;width:18.58%;">

  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

 </tr>

 <tr height="0">

  <td width="38" style="border:none;"></td>

  <td width="105" style="border:none;"></td>

  <td width="78" style="border:none;"></td>

  <td width="139" style="border:none;"></td>

  <td width="46" style="border:none;"></td>

  <td width="181" style="border:none;"></td>

  <td width="134" style="border:none;"></td>

 </tr>

</table>



<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>





<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">



<hr size="2" width="100%" noshade color="gray" align="left">



</font></div>



</div>




<!-- SEQ.=1,FOLIO='',FILE='C:\C2\jgarceau\3202_1\t_449655\j3202_ex10d2.htm',USER='jgarcea',CD='Mar 13 19:54 2002' -->
</body>



</html>


</TEXT>
</DOCUMENT>
