Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. On January 31, 2014 , WSI Industries, Inc. (the "Company") amended its Term Loan Agreement, Revolving Loan Agreement and its Amended and Restated Revolving Credit Promissory Note with its bank. The amendment to the Term Loan Agreement amended the Loan Agreement dated May 8, 2013 for a change in the method that the Quarterly Fixed Charge Coverage Ratio restrictive covenant was calculated. The amendments to the Revolving Loan Agreement and the Amended and Restated Revolving Credit Promissory Note extend the term of the Agreements to February 1, 2015 . The interest rate in the Revolving Loan Agreement is at a fluctuating annual interest rate equal to the LIBOR Rate, plus Two Hundred (200) basis points per year. The summary of these Agreements does not purport to be complete and is subject to and qualified in its entirety by reference to such documents, which are included as Exhibits 10.1 through 10.3 of Item 9.01 to this Form 8-K and are incorporated by reference into these Items 1.01 and 2.03. Item 9.01 Financial Statements And Exhibits. Exhibit No. Description 10.1 First Amendment to Term Loan Agreement dated January 31, 2014 between WSI Industries, Inc. and BMO Harris Bank N.A. 10.2 Third Amendment to Revolving Loan Agreement and First Amendment to Amended and Restated Revolving Credit Promissory Note dated January 31, 2014 between WSI Industries, Inc. and BMO Harris Bank N.A. 10.3 Acknowledgement of Guarantors dated January 31, 2014 between WSI Rochester, Inc. , WSI Industries, Co. and BMO Harris Bank N.A.
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