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<SEC-DOCUMENT>0000950123-10-005341.txt : 20100126
<SEC-HEADER>0000950123-10-005341.hdr.sgml : 20100126
<ACCEPTANCE-DATETIME>20100126171724
ACCESSION NUMBER:		0000950123-10-005341
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20100121
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20100126
DATE AS OF CHANGE:		20100126

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LINDSAY CORP
		CENTRAL INDEX KEY:			0000836157
		STANDARD INDUSTRIAL CLASSIFICATION:	FARM MACHINERY & EQUIPMENT [3523]
		IRS NUMBER:				470554096
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0831

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13419
		FILM NUMBER:		10548415

	BUSINESS ADDRESS:	
		STREET 1:		2707 NORTH 108TH STREET STE 102
		CITY:			OMAHA
		STATE:			NE
		ZIP:			68164
		BUSINESS PHONE:		4024282131

	MAIL ADDRESS:	
		STREET 1:		2707 NORTH 108TH STREET STE 102
		CITY:			OMAHA
		STATE:			NE
		ZIP:			68164

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LINDSAY MANUFACTURING CO
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>c55845e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>e8vk</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section&nbsp;13 OR 15(d) of The Securities Exchange Act of 1934</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Date of Report (Date of earliest event reported):<BR>
January&nbsp;21, 2010</B></DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt">
<font style="border-bottom: 1px solid #000000"><B>LINDSAY
CORPORATION</B></font>
</DIV>

<DIV align="center" style="font-size: 10pt">
(Exact name of registrant as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">Delaware
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">1-13419
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">47-0554096</TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State of Incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Commission File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(IRS Employer Identification<BR>
Number)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">2222 North 111<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> Street <BR>
Omaha, Nebraska
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">68164</TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(Address of principal executive offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Zip Code)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">(402)&nbsp;829-6800<BR>
<font style="border-top: 1px solid #000000">(Registrant&#146;s
telephone number, including area code)</font></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">Not applicable<BR>
<font style="border-top: 1px solid #000000">(Former name or former address, if changed since last report)</font></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
</DIV>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">








<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Item&nbsp;1.01</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Entry Into a Material Definitive Agreement</B></TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The description of the Amendment (as defined below) set forth in Item&nbsp;2.03 of this Report is
incorporated herein by reference.
</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Item&nbsp;2.03</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Creation of a Direct Financial Obligation or an Obligation
Under an Off-Balance Sheet Arrangement of a Registrant</B></TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reference is made to the Revolving Credit Agreement, dated January&nbsp;24, 2008 by and between
Lindsay Corporation (the &#147;Company&#148;) and Wells Fargo Bank, N.A., filed as Exhibit&nbsp;10.2 to the
Company&#146;s Current Report on Form 8-K filed January&nbsp;29, 2008 and incorporated herein by reference
(the &#147;Revolving Credit Agreement&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company entered into the First Amendment to Revolving Credit
Agreement, effective January&nbsp;23,
2010, by and between the Company and Wells Fargo Bank, N.A (the &#147;Amendment&#148;) in order to extend the
Revolving Credit Agreement&#146;s termination date from January&nbsp;23, 2010 to January&nbsp;23, 2012.
Borrowings under the Revolving Credit Agreement will bear interest at LIBOR plus 120 basis points,
subject to adjustment as set forth in the Amendment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A copy of the Amendment is filed as Exhibit&nbsp;10.1 hereto and is incorporated herein by
reference.
</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Item&nbsp;9.01</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Financial Statements and Exhibits</B></TD>
</TR>
</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="6%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="92%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">First Amendment to Revolving Credit Agreement, dated January&nbsp;23, 2010, by and between the
Company and Wells Fargo Bank, N.A.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the
registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">Dated:  January 26, 2010&nbsp;</TD>
    <TD colspan="3" align="left">LINDSAY CORPORATION<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ David B. Downing
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">David B. Downing, Chief Financial Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>c55845exv10w1.htm
<DESCRIPTION>EX-10.1
<TEXT>
<HTML>
<HEAD>
<TITLE>exv10w1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="font-family: Helvetica,Arial,sans-serif">


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>

<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;10.1</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>FIRST AMENDMENT TO REVOLVING CREDIT AGREEMENT</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This FIRST AMENDMENT TO REVOLVING CREDIT AGREEMENT (this &#147;<B>Amendment</B>&#148;), dated as of January&nbsp;23,
2010, is made between LINDSAY CORPORATION, a Delaware corporation (&#147;<B>Borrower</B>&#148;), and WELLS FARGO
BANK, NATIONAL ASSOCIATION, a national banking association (&#147;<B>Bank</B>&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, Borrower and Bank have entered into that Revolving Credit Agreement dated as of
January&nbsp;24, 2008 (the &#147;<B>Original Credit Agreement</B>&#148;). The Original Credit Agreement, as the same may
be amended from time to time, is sometimes referred to herein as the &#147;<B>Credit Agreement</B>.&#148;
Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to
them in the Credit Agreement. Borrower and Bank desire to amend the Credit Agreement as provided
herein.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW, THEREFORE, Borrower and Bank agree as follows:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1. <U>Amendments</U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) <U>Section&nbsp;1.01 (Definitions)</U>. The following definitions set forth in
<U>Section&nbsp;1.01</U> of the Credit Agreement, as previously amended, are hereby amended and
restated in their entirety as follows:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>Daily LIBOR Rate</I></B><I>&#148; means for any day, the rate of interest equal to the
LIBOR Rate then in effect for delivery for a one (1)&nbsp;month period.</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>Letter of Credit Margin</I></B><I>&#148; shall mean One Percent (1.00%).</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>LIBOR Rate</I></B><I>&#148; means the rate per annum determined pursuant to the
following formula:</I>
</DIV>
<DIV align="RIGHT">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="92%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="15%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="60%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><I>LIBOR Rate =</I>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" valign="top"><I>Base LIBOR<DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
100% &#151; LIBOR Reserve Percentage</I>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>where:</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>Base LIBOR</I></B><I>&#148; means the rate per annum for United States dollar
deposits quoted by Bank for the purpose of calculating effective
rates of interest for loans making reference to the LIBOR Rate, as
the Inter-Bank Market Offered Rate in effect from time to time for
delivery of funds for one (1)&nbsp;month in amounts approximately equal
to the principal amount of such loans. Borrower understands and
agrees that Bank may base its quotation of the Inter-Bank Market
Offered Rate upon such offers or other market indicators of the
Inter-Bank Market as Bank in its discretion deems appropriate
including, but not limited to, the rate offered for U.S. dollar
deposits on the London Inter-Bank Market.</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>LIBOR Reserve Percentage</I></B><I>&#148; means the reserve percentage
prescribed by the Board of Governors of the Federal Reserve System
(or any successor) for &#147;Eurocurrency Liabilities&#148; (as defined in
Regulation&nbsp;D of the Federal Reserve Board, as amended), adjusted by
Bank for expected changes in such reserve percentage during the term
of the Note.</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>LIBOR Rate Margin</I></B><I>&#148; shall mean One and Two-Tenths Percent (1.20%)</I>
<U><I>plus</I></U><I> the Increase in LIBOR Spread. From the date of this Amendment
through the end of the current fiscal quarter (the &#147;</I><B><I>Initial Adjustment
Date</I></B><I>&#148;), the &#147;</I><B><I>Increase in LIBOR Spread</I></B><I>&#148; shall be </I><U><I>0.00</I></U><I>%; on the
Initial Adjustment Date, and on the last day of each fiscal quarter
thereafter, the Increase in LIBOR Spread shall be adjusted quarterly based
on the Consolidated Funded Debt to EBITDA of the Borrower, as of the
then-most-recently completed fiscal quarter for which financial statements
are to be delivered pursuant to </I><U><I>Section&nbsp;5.01(C)</I></U><I> hereof, in
accordance with the following grid:</I>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><I>Consolidated Funded</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><I>Increase in</I></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><I>Debt to EBITDA*</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><I>LIBOR Spread</I></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><I>&#8804; 0.99x</I>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><I>0.00%</I></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><I>1.00x &#8804; 1.74x</I>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><I>0.40%</I></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><I>1.75x &#8804; 1.99x</I>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><I>0.70%</I></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><I>2.00x &#8804; 2.24x</I>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><I>0.95%</I></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><I>&#8805; 2.25x</I>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><I>1.20%</I></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left"><I>*</I></TD>
    <TD>&nbsp;</TD>
    <TD><I>Calculated on a four-quarter rolling basis
as provided in Section&nbsp;5.01(I)(iii).</I></TD>
</TR>

</TABLE>




<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>&#147;</I><B><I>Termination Date</I></B><I>&#148; shall mean January&nbsp;23, 2012.</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>&#147;</I><B><I>Unused Commitment Fee</I></B><I>&#148; shall mean an amount equal to one-quarter of
one percent (0.25%) per annum of the difference between the then-effective
Maximum Amount and the average daily balance of Outstanding Credit during
the preceding calendar quarter.</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) <U>Section&nbsp;5.01 (Certain Affirmative Covenants)</U>. <U>Sections&nbsp;5.01(I)</U> (Funded
Debt to EBITDA), <U>(J)</U> (Fixed Charge Coverage Ratio) and <U>(K)</U> (Current Ratio) of the
Credit Agreement are deleted and replaced with the following new <U>Section&nbsp;5.01(I)</U>:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>(I) </I><U><I>Financial Condition</I></U><I>. Maintain its financial condition as follows, for
Borrower on a consolidated basis with its consolidated subsidiaries, using generally
accepted accounting principles consistently applied and used consistently with prior
practices (except to the extent specified as follows or modified by the definitions herein):</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>(i)&nbsp;Current Ratio not less than 1.50 to 1.0 as of each fiscal quarter end, with
&#147;</I><B><I>Current Ratio</I></B><I>&#148; defined as total current assets divided by total current
liabilities.</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>(ii)&nbsp;Tangible Net Worth not less than $115,000,000.00 (the &#147;</I><B><I>TNW Requiremen</I></B><I>t&#148;)
as of each fiscal quarter end, beginning with the quarter ended February&nbsp;28, 2010;
the TNW Requirement shall be increased at the end of each fiscal quarter, beginning
with the quarter ended May&nbsp;30, 2010, by an amount equal to 25% of net income after
taxes for such fiscal quarter (but shall not be reduced as a result of any losses
incurred during any such fiscal quarter); with &#147;</I><B><I>Tangible Net Worth</I></B><I>&#148; defined as the
aggregate of consolidated total stockholders&#146; equity plus subordinated debt less any
intangible assets.</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>(iii)&nbsp;Consolidated Funded Debt to EBITDA not greater than 2.5 to 1.0 as of each
fiscal quarter end, with &#147;</I><B><I>Funded Debt</I></B><I>&#148; defined as the sum of all obligations for
borrowed money (including subordinated debt) plus that portion of all capital lease
obligations reported on the balance sheet of Borrower and its consolidated
subsidiaries, as a liability as of such quarter end, and with &#147;</I><B><I>EBITDA</I></B><I>&#148; defined, for
the four fiscal quarters ending as of such quarter end, as net profit before tax
plus interest expense, depreciation expense and amortization expense for the
Borrower and its consolidated subsidiaries; provided however that, in the event that
an acquisition or disposition permitted by this Agreement shall have been
consummated during such four fiscal quarter period, in computing EBITDA, net profit
(and all other amounts specified in this definition of EBITDA ) shall be computed on
a pro forma basis giving effect to such acquisition or disposition, as the case may
be, as of the first day of such period.</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>(iv)&nbsp;Consolidated Fixed Charge Coverage Ratio not less than 2.25 to 1.0 as of
each fiscal quarter end, with &#147;</I><B><I>Fixed Charge Coverage Ratio</I></B><I>&#148; defined as the quotient
obtained by dividing (x)&nbsp;for the four fiscal quarters ending as of such quarter end,
the aggregate of net profit of the Borrower and its consolidated subsidiaries after
taxes plus depreciation expense, amortization expense, cash capital equity
contributions and increases in subordinated debt minus dividends, distributions and
decreases in subordinated debt, divided by (y)&nbsp;the aggregate of the current portion
of long term debt (excluding balloon
payments) and capitalized lease payments for the Borrower and its consolidated
subsidiaries as of such quarter end.</I>
</DIV>

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</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 2. <U>Effectiveness</U>. This Amendment shall become effective when and only when
the Bank shall have received all of the following, in each case in form and substance acceptable to
the Bank: (a)&nbsp;counterparts of this Amendment duly executed by Borrower; and (b)&nbsp;such other
documents or actions as the Bank may reasonably request.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 3. <U>Representations and Warranties of Borrower</U>. Borrower represents and
warrants as follows:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Borrower is a corporation duly organized, validly existing and in good standing
under the laws of the jurisdiction of its incorporation shown above.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The execution, delivery and performance by Borrower of this Amendment, the Credit
Agreement, and the other Loan Documents, as amended hereby, are within Borrower&#146;s powers,
have been duly authorized by all necessary action on the part of Borrower and its
shareholders and/or directors, as applicable, and do not: (i)&nbsp;contravene Borrower&#146;s articles
of incorporation or bylaws, or (ii)&nbsp;contravene any law or any contractual restriction
binding on or affecting Borrower or its consolidated subsidiaries, or (iii)&nbsp;result in, or
require, the creation of any lien, security interest or other charge or encumbrance upon or
with respect to any of the properties of the Borrower or any of its consolidated
subsidiaries (other than liens, security interests, charges or encumbrances in favor of the
Bank under the Credit Agreement and other Loan Documents).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) No authorization, approval or other action by, and no notice to or filing with,
any governmental authority or regulatory body is required for the due execution, delivery
and performance by Borrower of this Amendment or the Original Credit Agreement, as amended
hereby, or other Loan Documents.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) This Amendment and the Original Credit Agreement, as amended hereby, and the other
Loan Documents, constitute, legal, valid and binding obligations of Borrower enforceable
against Borrower in accordance with their respective terms.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) There is no pending or threatened action or proceeding affecting Borrower before
any court, governmental agency or arbitrator, which may materially adversely affect the
financial condition or operations of Borrower or its ability to perform its obligations
under the Original Credit Agreement, as amended hereby, and the other Loan Documents.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Except to the extent otherwise provided in the Borrower&#146;s <U>Form&nbsp;10-K</U> for
the period ended August&nbsp;31, 2009, and <U>Form&nbsp;10-Q</U> for the period ended <U>November
30, 2009</U> (the &#147;Most Recent Filing&#148;), Borrower restates and affirms each and all of the
representations of Borrower set forth in Article&nbsp;IV of the Original Credit Agreement. The
information in the Most Recent Filing is, as of its date and as of the date of this
Agreement, true and correct in all material respects and does not omit to state a material
fact necessary in order to make the statements made, in light of the circumstances under
which they were made, not misleading.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) No event of default as described in <U>Section&nbsp;6.01</U> of the Original Credit
Agreement has occurred and is continuing (without regard to notice or any applicable grace
period, if any).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 4. <U>Reference to and Effect on the Credit Agreement</U>. Upon the effectiveness
of this Amendment pursuant to <U>Section&nbsp;2</U> hereof, each reference in the Original Credit
Agreement to &#147;this Agreement&#148;, &#147;hereunder&#148; &#147;hereof&#148;, &#147;herein&#148; or words of like import shall mean
and be a reference to the Credit Agreement, as amended hereby. Except as specifically amended
above, the Credit Agreement shall remain in full force and effect and is hereby ratified and
confirmed. The execution, delivery and effectiveness of this Amendment shall not, except as
expressly provided herein, operate as a waiver of any right, power or remedy of Bank under the
Credit Agreement, nor constitute a waiver of any provision of the Credit Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 5. <U>Execution in Counterparts</U>. This Agreement may be executed in several
counterparts, and all counterparts so executed shall constitute one agreement, binding on all of
the parties hereto, notwithstanding that all the parties are not signatory to the original or the same
counterpart.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 6. <U>Governing Law</U>. This Amendment shall be governed by, and construed in
accordance with, the laws of the State of Nebraska (without giving effect to conflicts of law
principles).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 7. <U>Final Agreement</U>. This Amendment and the Credit Agreement and other Loan
Documents represents the final agreement between Bank and Borrower as to the subject matter thereof
and may not be contradicted by evidence of prior, contemporaneous or subsequent oral agreements of
the parties. There are no unwritten oral agreements between the parties.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A CREDIT AGREEMENT MUST BE IN WRITING TO BE ENFORCEABLE UNDER NEBRASKA LAW. TO PROTECT
THE PARTIES FROM ANY MISUNDERSTANDINGS OR DISAPPOINTMENTS, ANY CONTRACT, PROMISE, UNDERTAKING OR
OFFER TO FOREBEAR REPAYMENT OF MONEY OR TO MAKE ANY OTHER FINANCIAL ACCOMMODATION IN CONNECTION
WITH THIS LOAN OF MONEY OR GRANT OR EXTENSION OF CREDIT, OR ANY AMENDMENT OF, CANCELLATION OF,
WAIVER OF, OR SUBSTITUTION FOR ANY OR ALL OF THE TERMS OR PROVISIONS OF ANY INSTRUMENT OR DOCUMENT
EXECUTED IN CONNECTION WITH THIS LOAN OF MONEY OR GRANT OR EXTENSION OF CREDIT, MUST BE IN WRITING
TO BE EFFECTIVE.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF, the parties have signed this Amendment as of the date and year first
above written.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>WELLS FARGO BANK, NATIONAL ASSOCIATION</B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Michael H. Wheeler
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Michael H. Wheeler, Vice President&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>LINDSAY CORPORATION</B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ David B. Downing
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">David B. Downing&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">Chief Financial Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



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