ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On June 12, 2020 (the "Effective Date"), Briggs & Stratton Corporation (the
"Company"), Briggs & Stratton AG ("B&S AG") and certain other subsidiaries of
the Company entered into Amendment No. 5 to Revolving Credit Agreement (the
"Amendment") among the Company, B&S AG, the other loan parties party thereto,
the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent
(the "Agent"). The Amendment amends the Revolving Credit Agreement, dated as of
September 27, 2019, among the Company, B&S AG, the other subsidiary borrowers
from time to time party thereto, the lenders and issuing banks from time to time
party thereto and the Agent (such agreement, as amended by Amendment No. 1 to
Revolving Credit Agreement dated as of November 15, 2019, Amendment No. 2 to
Revolving Credit Agreement dated as of January 29, 2020, Amendment No. 3 to
Revolving Credit Agreement dated as of April 21, 2020, and Amendment No. 4 to
Revolving Credit Agreement dated as of April 27, 2020, the "Existing Credit
Agreement", and the Existing Credit Agreement as amended by the Amendment, the
"Credit Agreement"). The Amendment amends certain provisions of the Existing
Credit Agreement to, among other things:

•revise the event of default respecting approval of a permitted junior debt
financing, equity issuance and/or real property sale-leaseback transaction to
require such a transaction to have its proposed terms and conditions approved by
the required lenders and the Agent, and to be closed, effective and fully funded
on such approved terms, in each case on or before July 15, 2020;
•during the period beginning on the Effective Date and ending on July 26, 2020,
increase the required borrowing availability that the Company and its
subsidiaries must maintain under the revolving credit facility to at least $22.5
million;
•reduce the maximum aggregate amount available for borrowing or letters of
credit under the revolving credit facility that the Existing Credit Agreement
contemplated by (i) $50 million to $550 million as of the Effective Date and
(ii) an additional $50 million to $500 million as of July 15, 2020; and
•increase the applicable margins paid to lenders as part of the variable
interest rates for (i) LIBOR borrowings to 550 basis points and (ii) base rate
borrowings to 450 basis points, in each case effective on and after July 15,
2020.

On June 12, 2020, after the effectiveness of the Amendment, the Company and its
subsidiaries had $305.1 million of borrowings and $53.0 million of letters of
credit outstanding under the Credit Agreement. As a result, availability under
the Credit Agreement was $61.9 million as of June 12, 2020.

The description of the Amendment set forth above is qualified in its entirety by reference to the Amendment filed herewith as Exhibit 10.1 and incorporated herein by reference.

ITEM 2.03. CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT.

The information under Item 1.01 is incorporated herein by reference.

ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.



On June 11, 2020, the Compensation Committee of the Company's Board of Directors
approved restoring the respective base salaries of the Company's named executive
officers from the previously disclosed reduced levels that have been in effect
since April 1, 2020. Effective as of July 1, 2020, the named executive officers'
base salaries will be restored as follows: Todd J. Teske, Chairman, President
and Chief
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Executive Officer ($963,000); Mark A. Schwertfeger, Senior Vice President and
Chief Financial Officer ($450,000); David J. Rodgers, Senior Vice President &
President - Engines & Power ($487,000); William H. Reitman, Senior Vice
President & President - Support ($410,000); and Harold L. Redman, Senior Vice
President & President - Turf & Consumer Products ($400,000). The salary
reductions for all other salaried employees of the Company will also be restored
effective July 1, 2020.

On June 11, 2020, the Board of Directors approved cash retention awards (each, a
"Retention Award") for certain of the Company's executive officers and other key
employees (each, a "Participant"). The aggregate amount of Retention Awards
approved was $5.125 million. Retention Awards to be paid to named executive
officers are as follows: Todd J. Teske, Chairman, President and Chief Executive
Officer ($1,200,000); Mark A. Schwertfeger, Senior Vice President and Chief
Financial Officer ($600,000); David J. Rodgers, Senior Vice President &
President - Engines & Power ($425,000); and Harold L. Redman, Senior Vice
President & President - Turf & Consumer Products ($425,000). The Retention
Awards will be paid promptly following execution by the Participants of a
Retention Award agreement, which is anticipated to occur in the near future.

Under the Retention Award program, a Participant will be required to repay the
Retention Award net of any tax withholding in the event the Participant
voluntarily resigns or is terminated by the Company for cause before the earlier
of June 11, 2021 or consummation by the Company of certain significant
transactions specified in the Retention Award agreement. The Retention Awards
are in lieu of annual bonus and long-term incentive compensation awards for
fiscal 2021.

All other elements of the named executive officers' compensation remain unchanged.




ITEM 8.01. OTHER EVENTS.

With the approval of the Board of Directors of the Company, the Company has
chosen not to make an interest payment of $6.7 million (the "Interest Payment")
due on June 15, 2020 with respect to the Company's outstanding 6.875% Senior
Notes due 2020 (the "Notes"). Under the indenture governing the Notes (the
"Indenture"), the Company has a 30-day grace period to make the Interest Payment
before such non-payment constitutes an event of default with respect to the
Notes. During the grace period, non-payment of the Interest Payment does not
constitute a default or event of default under the Credit Agreement. Failure to
pay the Interest Payment by July 15, 2020 will result in an event of default
under the Indenture and an event of default under the Credit Agreement.




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ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS



(d) Exhibits. The exhibits listed in the Exhibit Index below are filed as part
of this report.

        Exhibit No.               Description
           10.1                     Amendment No. 5 to Revolving Credit Agreement, dated as of June
                                  12, 2020, among Briggs & Stratton

Corporation, Briggs & Stratton AG,


                                  the other loan parties party thereto, the lenders party thereto and
                                  JPMorgan Chase Bank, N.A., as administrative agent.
           104.1                  The cover page from this Current Report on Form 8-K, formatted as
                                  Inline XBRL



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