Item 1.01. Entry into a Material Definitive Agreement.
On May 4, 2020, Trimble Inc. (the "Company") entered into an Extension and
Amendment Agreement, among the Company, the lenders party thereto and JPMorgan
Chase Bank, N.A., as administrative agent (the "Amendment"), which amended that
certain Credit Agreement dated May 15, 2018 by and among the Company, the
borrowing subsidiaries from time to time party thereto, the lenders from time to
time party thereto and JPMorgan Chase Bank, N.A., as administrative agent (the
"Credit Agreement"). The Credit Agreement provided for an unsecured revolving
loan facility in the aggregate principal amount of $1.25 billion and a delayed
draw term loan facility in the aggregate principal amount of $500.0 million. As
of May 4, 2020, $225 million aggregate principal amount of term loans were
outstanding under the Credit Agreement.
The Amendment amended the Credit Agreement to, among other things, extend the
maturity date of the term loans from July 2, 2021 to July 2, 2022. In addition,
the Amendment amended the applicable margin for the term loans. The term loans
bear interest, at the Company's option, at either the alternate base rate
(determined in accordance with the Credit Agreement), plus a margin of between
0.750% and 1.625%; (b) an adjusted LIBOR rate (based on one, two, three or
six-month interest periods), plus a margin of between 1.750% and 2.625%, with a
1.0% LIBOR rate floor; or (c) an adjusted EURIBOR rate (based on one, two, three
or six-month interest periods), plus a margin of between 1.750% and 2.625%, with
a 1.0% EURIBOR rate floor. The applicable margin in each case is determined
based on either the Company's credit rating at such time or the Company's
leverage ratio as of its most recently ended fiscal quarter, whichever results
in more favorable pricing to the Company.
The foregoing description of the Amendment and the Credit Agreement does not
purport to be complete and is qualified in its entirety by reference to the
Amendment filed herewith and incorporated by reference herein and the Credit
Agreement, which was described in and filed as Exhibit 10.1 to the Company's
Current Report on Form 8-K filed with the United States Securities and Exchange
Commission on May 16, 2018 and is incorporated by reference herein.
Item 9.01  Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No.                                   Description
   10.1            Extension and Amendment Agreement, dated May 4, 2020, amending
                 Credit Agreement dated May 15, 2018, by and among Trimble Inc., the
                 lenders party thereto and JPMorgan Chase Bank, N.A., as administrative
                 agent.

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