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Execution Version AMENDMENT NO. 1 TO CREDIT AGREEMENT AMENDMENT NO. 1 TO CREDIT
AGREEMENT, dated as of June 27, 2019 (this “Agreement”), by and among Coty Inc.,
a Delaware corporation (the “Parent Borrower”), Coty B.V., a private company
with limited liability (besloten vennootschap met beperkte aansprakelijkheid)
incorporated under the laws of the Netherlands (the “Dutch Borrower”), the
Lenders party hereto (which such Lenders constitute the Required TLA Lenders and
the Required Revolving Lenders) and JPMorgan Chase Bank, N.A., as administrative
agent (in such capacity, the “Administrative Agent”). RECITALS: WHEREAS,
reference is hereby made to the Amended and Restated Credit Agreement, dated as
of April 5, 2018 (as amended, restated, amended and restated, supplemented or
otherwise modified from time to time, the “Existing Credit Agreement” and, as
amended by this Agreement, the “Credit Agreement”), by and among the Parent
Borrower, the lenders from time to time party thereto and the Administrative
Agent and Collateral Agent (capitalized terms used but not otherwise defined
herein having the meanings provided in the Credit Agreement); WHEREAS, the
Parent Borrower has requested that the Required TLA Lenders and the Required
Revolving Lenders amend the Credit Agreement pursuant to Section 10.02(b) of the
Credit Agreement as set forth herein; and NOW, THEREFORE, in consideration of
the premises and agreements, provisions and covenants herein contained and for
other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto agree as follows: SECTION 1. Amendments
to Credit Agreement. Each of the parties hereto agrees that, effective on the
First Amendment Effective Date, (a) the Existing Credit Agreement shall be
amended to delete the stricken text (indicated textually in the same manner as
the following example: stricken text) and to add the double-underlined text
(indicated textually in the same manner as the following example:
double-underlined text) as set forth in the pages of the Existing Credit
Agreement attached as Annex I hereto and (b) Exhibit B to the Credit Agreement
shall be replaced in its entirety with the form of Compliance Certificate
attached as Annex II hereto. SECTION 2. First Amendment Effective Date
Conditions. This Agreement will become effective as of June 27, 2019 (the “First
Amendment Effective Date”); provided that each of the following conditions shall
have been satisfied (or waived) in accordance with the terms therein on or prior
to such date: (a) Executed Agreement. The Administrative Agent shall have
received a counterpart of this Agreement signed on behalf of (i) the Parent
Borrower and the Dutch Borrower, (ii) the Administrative Agent, (iii) the
Required TLA Lenders and (iv) the Required Revolving Lenders. (b) Closing
Certificate. The Administrative Agent shall have received a certificate from a
Responsible Officer of the Parent Borrower certifying (i) the representations
and warranties set forth herein and in the Loan Documents are true and correct
in all material respects with the same force and effect as if such
representations and warranties had been made on and as of the First Amendment
Effective Date except to the extent that such representations and warranties
relate specifically to another date; provided that any representation and
warranty that is qualified as to materiality shall be true and correct in all
respects (after giving effect to such

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qualification therein) and (ii) at the time of and immediately after giving
effect to this Agreement, no Default or Event of Default shall exist or result
therefrom. (c) No Default. At the time of and immediately after giving effect to
this Agreement, no Default or Event of Default shall exist or result therefrom.
(d) Fees and Expenses. The Administrative Agent shall have received (i) for the
account of each Term A Lender and Revolving Lender who has delivered a
counterpart to this Agreement, an amendment fee in an amount equal to 0.10% of
the aggregate principal amount of the Revolving Commitments and outstanding Term
A Loans of such Lender after giving effect to the Commitment Reduction (as
defined below) paid by or on behalf of the Parent Borrower and (ii) all other
expenses due and payable on or prior to the First Amendment Effective Date, to
the extent invoiced at least three (3) Business Days prior to the First
Amendment Effective Date (or such shorter period reasonably agreed by the Parent
Borrower). (e) Commitment Reduction. The Revolving Commitments shall have been
reduced from $3,250,000,000 to $2,750,000,000 in accordance with Section 2.08 of
the Credit Agreement (the “Commitment Reduction”). SECTION 3. Representations
and Warranties. By its execution of this Agreement, each Loan Party party hereto
hereby represents and warrants that: (a) Organization; Powers. The Parent
Borrower and each of its Restricted Subsidiaries (a) is validly existing under
the laws of the jurisdiction of its organization or formation, except, in the
case of a Restricted Subsidiary, where the failure to be so could not reasonably
be expected to result in a Material Adverse Effect, (b) has all requisite power
and authority to carry on its business as now conducted, except, in the case of
a Restricted Subsidiary, where the failure to have such could not reasonably be
expected to result in a Material Adverse Effect and (c) except where the failure
to do so, individually or in the aggregate, could not reasonably be expected to
result in a Material Adverse Effect, is qualified to do business in, and is in
good standing (where relevant) in, its jurisdiction of organization or formation
and every other jurisdiction where such qualification is required. (b)
Authorization; Enforceability. The Parent Borrower and each Loan Party has the
corporate or other organizational power and authority to execute, deliver and
carry out the terms and provisions of the Loan Documents to which it is a party
and has taken all necessary corporate or other organizational action to
authorize the execution, delivery and performance of the Loan Documents to which
it is a party. This Agreement has been duly executed and delivered by the Parent
Borrower and constitutes, and each other Loan Document to which any Loan Party
is to be a party, when executed and delivered by such Loan Party, will
constitute, a legal, valid and binding obligation of the Parent Borrower or such
other Loan Party (as the case may be), enforceable in accordance with its terms,
subject to applicable bankruptcy, insolvency, reorganization, moratorium,
capital impairment, recognition of judgments, recognition of choice of law,
enforcement of judgments or other similar laws or other laws affecting
creditors’ rights generally and subject to general principles of equity,
regardless of whether considered in a proceeding in equity or at law and other
matters which are set out as qualifications or reservations as to matters of law
of general application in any legal opinion delivered to the Administrative
Agent in connection with the Loan Documents.

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(c) Governmental Approvals; No Conflicts. Governmental Approvals; No Conflicts.
The execution, delivery and performance of the Loan Documents: (a) do not
require any consent or approval of, registration or filing with, or any other
action by, any Governmental Authority, except (i) such as have been obtained or
made and are in full force and effect, (ii) filings necessary to perfect Liens
created under the Loan Documents and (iii) for consents, approvals,
registrations, filing or other actions, the failure of which to obtain or make
would not reasonably be expected to have, individually or in the aggregate, a
Material Adverse Effect, (b) will not violate (i) any applicable Law or
regulation or (ii) in any material respect, the charter, by-laws or other
organizational documents of the Parent Borrower or any of its Restricted
Subsidiaries or any order of any Governmental Authority binding on such Person,
(c) will not violate or result in a default under any material indenture,
agreement or other instrument binding upon the Parent Borrower or any of its
Restricted Subsidiaries or its assets, or give rise to a right thereunder to
require any payment to be made by the Parent Borrower or any of its Restricted
Subsidiaries, and (d) will not result in the creation or imposition of any
material Lien on any asset of the Parent Borrower or any of its Restricted
Subsidiaries, except Liens created under and Liens permitted by the Loan
Documents, and except to the extent such violation or default referred to in
clause (b)(i) or (c) above could not reasonably be expected to result in a
Material Adverse Effect. SECTION 4. Reaffirmation of the Loan Parties. Each Loan
Party party hereto hereby consents to the amendment of the Credit Agreement
effected hereby and confirms and agrees that, notwithstanding the effectiveness
of this Agreement, each Loan Document to which such Loan Party is a party is,
and the obligations of such Loan Party contained in the Credit Agreement, this
Agreement or in any other Loan Document to which it is a party are, and shall
continue to be, in full force and effect and are hereby ratified and confirmed
in all respects, in each case as amended by this Agreement. For greater
certainty and without limiting the foregoing, each Loan Party party hereto
hereby confirms that the existing guarantees and/or security interests granted
by such Loan Party in favor of the Administrative Agent for the benefit of the
Secured Parties pursuant to the Loan Documents in the Collateral described
therein shall continue to secure the obligations of the Loan Parties under the
Credit Agreement and the other Loan Documents as and to the extent provided in
the Loan Documents. SECTION 5. Amendment, Modification and Waiver. This
Agreement may not be amended, modified or waived except as permitted by Section
10.02 of the Credit Agreement. The execution, delivery and effectiveness of this
Agreement shall not, except as expressly provided herein, operate as a waiver of
any right, power or remedy of any Lender or the Administrative Agent under any
of the Loan Documents, nor, except as expressly provided herein, constitute a
waiver or amendment of any provision of any of the Loan Documents. SECTION 6.
Entire Agreement. This Agreement, the Credit Agreement, the other Loan Documents
and any separate letter agreements with respect to fees payable to the
Administrative Agent, the Collateral Agent or the Lenders, embody the final,
entire agreement among the parties relating to the subject matter hereof and
supersede any and all previous commitments, agreements, representations and
understandings, whether oral or written, relating to the subject matter hereof
and may not be contradicted or varied by evidence of prior, contemporaneous or
subsequent oral agreements or discussions of the parties hereto. There are no
unwritten oral agreements among the parties hereto. SECTION 7. GOVERNING LAW.
THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF
THE STATE OF NEW YORK. SECTION 8. Severability. Any provision of this Agreement
held to be invalid, illegal or unenforceable in any jurisdiction shall, as to
such jurisdiction, be ineffective to the extent of such

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invalidity, illegality or unenforceability without affecting the validity,
legality and enforceability of the remaining provisions hereof; and the
invalidity of a particular provision in a particular jurisdiction shall not
invalidate such provision in any other jurisdiction. SECTION 9. Counterparts;
Effectiveness. This Agreement may be executed in counterparts (and by different
parties hereto on different counterparts), each of which shall constitute an
original, but all of which when taken together shall constitute a single
contract. This Agreement shall become effective when it shall have been executed
by the Administrative Agent and when the Administrative Agent shall have
received counterparts hereof which, when taken together, bear the signatures of
each of the other parties hereto, and thereafter shall be binding upon and inure
to the benefit of the parties hereto and their respective successors and
permitted assigns. Delivery of an executed counterpart of a signature page of
this Agreement by email or other electronic means (including a “.pdf” or “.tif”
file) shall be effective as delivery of a manually executed counterpart of this
Agreement. SECTION 10. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO
THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL
BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR
RELATING TO THIS AGREEMENT, ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH
PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY
OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD
NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B)
ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER
INTO THE LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND
CERTIFICATIONS IN THIS SECTION 10. SECTION 11. Loan Document; Effect of
Amendment. On and after the First Amendment Effective Date, this Agreement shall
constitute a “Loan Document” for all purposes of the Credit Agreement and the
other Loan Documents (it being understood that for the avoidance of doubt this
Agreement may be amended or waived solely by the parties hereto as set forth in
Section 5 above). Upon and after the execution of this Agreement by each of the
parties hereto, each reference in the Credit Agreement to “this Agreement”,
“hereunder”, “hereof” or words of like import referring to the Credit Agreement,
and each reference in the other Loan Documents to “the Credit Agreement”,
“thereunder”, “thereof” or words of like import referring to the Credit
Agreement, shall mean and be a reference to the Credit Agreement as modified
hereby. [SIGNATURE PAGES FOLLOW]

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IN WITNESS WHEREOF, each of the undersigned has caused its duly authorized
officer to execute and deliver this Agreement as of the date first set forth
above. COTY INC. By: Name: Pierre dre T erisse Title: Chief inancial Officer
::TYB.V.tl u Name: Christian Bruechle Title: Director [Signature Page to
Amendment No. I to Credit Agreement]

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JPMORGAN CHASE BANK, N.A., as Administrative Agent, Term A Lender and Revolving
Lender ~Title: Executive Director

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Bank of America, N.A., as a Revolving Lender I Term A Lender Name: J. as
Cosgrove Title: Director [Signature Page to Amendment No. I]

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Bayerische Landesbank, New York Branch, as a Revolving Lender/Term A Lender ,/-
By: ------ -------­ Name: Rolf Siebert Title: Executive Director By ~1~ Name:
Gina Sandella Title: Vice President [Signature Page to Amendment No. 1]

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BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH, as a Revolving
Lender/Term A Lender Younger T tle: Executive irector By: ~~::::::::::=====N e:
Miriam Trautmann==--- Title: Senior Vice President [Signature Page to Amendment
No. l]

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The Bank of Nova Scotia, as both a Revolving Lender and a Term A Lender /; By:
-------=Name: /413Winston----=..a::~'------- Lua~- -- Title: Director [Signature
Page to Amendment No. I]

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Bank of Montreal, as a Revolving Lender I Term A Lender By:
_______::::=::::::::=':::="---1..t. Name: Chad Beltz Title: Vice President
[Signature Page to Amendment No. l]

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BNP Paribas, as a Revolving Lender/Term A Lender By:-----------­~ Name: ~t)
\'{~~ Title: ~~G- "b,.NCh~ By:-----------­ Name: RICHARD PACE Title: ana ing
Director [Signature Page to Amendment No. I]

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Citibank, N.A., as a Revolving Lender and Term A By:NrunUK-Lender Title:
Managing Director [Signature Page to Amendment No. 1]

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CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK, as a Revolving Lender and a Term
A Lender By: . a.&r. 1:/1 Name: Andr Sidford Title: Managing Director By: ~S~ ~
Myr~a rtinez Title: Vice President [Signature Page to Amendment No. l]

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Credit Industriel et Commercial, New York Branch, as a Revolving Lender/ Term A
Lender By: ----==:...._-..,.....-7"<----<----------- Name· Weiss Titl . Managing
Director By: ~~~ Name:~ Title: Managing Director [Signature Page to Amendment
No. 1]

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DEUTSCHE BANK AG NEW YORK BRANCH, as a Revolving Lender and Term A Lender 2- By:
-?'L c::/, - ·· · "KJafue: Ming K. hu title: Director By: -------------­ Name:
Virginia Cosenza Title: Vice President [Signature Page to Amendment No. I]

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Fifth Third Bank, as a Revolving Lender/Term A Lender By:~'~ Name~ ·stopher Gri~
Title: Vice President By:------------- Name: Title: [Signature Page to Amendment
No. I]

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Greywolf CLO IV, Ltd. as a Term A Lender By: Greywolf Loan Management LP, as
Portfolio Manager . ;...•~::;~.,. '· ~~,..,,., By: Name: William Troy Title:
Authorized Signatory By: Name: Title: [Signature Page to Amendment No. 1]

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HSBC Bank USA, National Association as a Revolving Lenderrferm A lender .,,{/
By:~~ --~~~_:::::"_ /)_ Name: Emily Barker #22403 Title: Vice President
[Signature Page to A mendment No. I J

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[LENDER], HSBC BANK.AUSTRALIA LIMITED as a [Term A Len erJ By:
---l----,IIC-:------,f---,----_._.,_... ( (l?j Name: Title: RESTRICTED
[Signature Page to Amendment No. 1]

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., ING BANK, A BRANCH OF ING­ DIBA AG, as a Term A Lender [Signature Page to
Amendment No. 1]

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ING Bank N.V., Dublin Branch, as a Revolving Lender ~~ ~ By: /' ~ Name: Bafi'.'y
Fehily Title: Managing D= Name: Sean Hassett Title: Director [Signature Page to
Amendment No. 1]

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INTESA SANPAOLO S.p.A., New York Branch . as a Revolving Lender and Term A
Lender 8 ~am0~~f~ o Title: Regional Business Manager ·L [Signature Page to
Amendment No. 1]

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LANDESBANK BADEN-WURTTEMBERG, ACTING THROUGH ITS NEW YORK BRANCH as a Revolving
Lender I Term A Lender By: Name: Dr. Martin Breckheimer Title: Executive
Director By: Name: Raf Enders Title: Executive Director (Signature Page to
Amendment No. 1]

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[LENDER], as a [Revolving Lende,}l[Term A Lender] By: -~------',4:;...__----~
Name: Matthias Metzger Title: SVP /, By: tO.b, ~ Name/ Title/ [Signature Page to
Amendment No. I]

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LIBERTY BANK, as a Term A Lender By: C&AJS~ Name: Title: Carla Balesano Senior
Vice President By:--------------­ Name: Title: [Signature Page to Amendment No.
1]

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M&G Conservative European Loan Fund Limited, as a Term A Lender By: ~ 51ae Name:
Title: Aditi Rao Authorised Signatory [Signature Page to Amendment No. 1]

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MIZUHO BANK, LTD., as a Revolving Lender/Term A Lender By: ~ ~ Name.Tracy Rahn
Title: Authorized Signatory Signature Page to Amendment No. 1

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MORGAN STANLEY SENIOR FUNDING, INC. as a Revolving Lender I Term A Lender
By~@~.--A~~/-· _·-­ Name~SRINIVASAN Title: VICE PRESIDENT [Signature Page to
Amendment No. 1]

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MORGAN STANLEY BANK, N.A. as a Revolving Lender I Term A Lender ~ ~. By:~- Name:
GA ~IVASAN Title: AUTHORIZED SIGNATORY [Signature Page to Amendment No. 1]

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MUFG BANK LTD., as a Revolving Lender and Term A Lender By: ~~ Name: Liwei Liu
Title: Vice President [Signature Page to Amendment No. l]

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PT. Bank Negara Indonesia (Persero ), Tbk New York Agency as a Term A Lender By:
__......,. ____________ Name: Aidil Azhar Title: General Manager [Signature Page
to Amendment No. l]

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ROYAL BANK OF CANADA, --------·--·-···--···-·······---·-··
------------s-a-Re-WJfvfng-L-ender-and--'Ferm-A---·- -·---·-·····---· Lender
[Signature Page to Amendment No. l]

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SANTANDER BANK, N.A., as a Revolving Lender/Term A Lender By: A]Atr; ~ Name:
Andres Barbosa Title: Executive Director By: ~ ; Name: aniel Kostman Title:
Executive Director [Signature Page to Amendment No. lJ

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Scotiabank (Ireland) DAC as a Term A Lender ry Theresa Mulvany Title: Associate
Director By: E _&e,11 l1 Ll-j Name: Edel Herlihy Title: Ch ief Risk Officer
[Signature Page to Amendment No. l]

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Virtus Seix Floating Rate High Income Fund, as a Term A Lender By: Seix
Investment Advisors LLC, as Subadviser By: Name: Deirdre A. Dillon, Esq. Title:
Chief Compliance Officer [Signature Page to Amendment No. 1]

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Sumitomo Mitsui Banking Corporation as a [Revolving Lender]/[Term A Lender]
[Signature Page to Amendment No. I]

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TD Bank, N.A., as a Revolving Lender/Term A Lender ame: Michele Dragone Title:
Senior Vice Presi [Signature Page to Amendment No. 1]

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TriState Capital Bank, as a Term A Lender By: Jwc,er Name:'1:llen Frank Title:
Senior Vice President [Signature Page to Amendment No. 1]

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s; ____; _&_l_4--=-=-t~~~~=~~{!~l~'---- Name: Tommaso Maiocchi Title: Associate
Director [Signature Page to Amendment No. I]

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Wells Fargo Bank, National Association, as a Revolving Lender/Term A Lender By:
((Y-J, '~"\ __ / ·~ Name: Ekta Patel Title: Managing Director By: -------------­
Name: Title: [Signature Page to Amendment No. I]

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/ ' == ~~ //-I+ /" By: _ _ J}------"<-l ·_l-1,e..::......::lc.....;...ot:
---=l.<..:.....:;..h _,.____ Name: Tommaso Maiocchi Title: Associate Director
[Signature Page to Amendment No. 1]

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ANNEX I AMENDMENTS TO CREDIT AGREEMENT [Changed pages to Credit Agreement
follow]

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AMENDED AND RESTATED CREDIT AGREEMENT, dated as of April 5, 2018 (this
“Agreement”) among COTY INC., a Delaware corporation (the “Parent Borrower”),
COTY B.V., a private company with limited liability (besloten vennootschap met
beperkte aansprakelijkheid) incorporated under the laws of the Netherlands,
having its corporate seat in Amsterdam, the Netherlands and registered with the
trade register of the Chamber of Commerce under number 37069236 (the “Dutch
Borrower”), the LENDERS party hereto from time to time and JPMORGAN CHASE BANK,
N.A., as Administrative Agent and as Collateral Agent, which amends and restates
that certain Credit Agreement, dated as of October 27, 2015 (as amended
restated, amended and restated, supplemented or otherwise modified from time to
time prior to effectiveness of this Agreement, the “Existing Coty Credit
Agreement”), by and among the Parent Borrower, the financial institutions party
thereto from time to time as lenders and JPMorgan Chase Bank, N.A., as
Administrative Agent and as Collateral Agent. WHEREAS reference is made to the
Credit Agreement, dated as of January 26, 2016 (as amended restated, amended and
restated, supplemented or otherwise modified from time to time prior to
effectiveness of this Agreement, the “Existing Galleria Credit Agreement” and,
together with the Existing Coty Credit Agreement, the “Existing Credit
Agreements”), by and among Galleria Co., a Delaware corporation (the “Galleria
Borrower”), the financial institutions party thereto from time to time as
lenders and JPMorgan Chase Bank, N.A., as Administrative Agent and as Collateral
Agent; WHEREAS, the Parent Borrower has requested that (A) for the purpose of,
among other things, refinancing the term loans outstanding under each Existing
Credit Agreement prior to effectiveness of this Agreement (1) the Term A Lenders
extend credit in the form of (i) Term A USD Loans on the Restatement Effective
Date in an aggregate principal amount of $1,000,000,000 and (ii) Term A EUR
Loans on the Restatement Effective Date in an aggregate principal amount of
€2,035,000,000 and (2) the Term B Lenders extend credit in the form of (i) Term
B USD Loans on the Restatement Effective Date in an aggregate principal amount
of $1,400,000,000 and (ii) Term B EUR Loans on the Restatement Effective Date in
an aggregate principal amount of €850,000,000, (B) for the purpose of, among
other things, refinancing the revolving loans outstanding under each Existing
Credit Agreement prior to effectiveness of this Agreement and for general
corporate purposes or any purpose not prohibited under the Loan Documents, the
Revolving Lenders extend credit in the form of Revolving Loans, the Swingline
Lenders extend credit in the form of Swingline Loans and the Issuing Banks issue
Letters of Credit in an aggregate amount at any time outstanding of up to
$3,250,000,0002,750,000,000 and (C) the Existing L/C Issuer maintain the
Existing Letters of Credit as Letters of Credit hereunder; and WHEREAS, the
Lenders and Issuing Banks party hereto, as applicable, have agreed to provide
such Loans and Letters of Credit and the Parent Borrower, the other Loan Parties
hereto, the Administrative Agent, the Collateral Agent and the Lenders and
Issuing Banks party hereto have agreed to amend and restate the Existing Coty
Credit Agreement as provided herein. NOW, THEREFORE, in consideration of the
premises and the covenants and agreements contained herein, the parties hereto
hereby agree as follows: 1

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in connection with the Original Transactions, the Transactions and any Permitted
Acquisition; plus (f) (i) solely for purposes of actual compliance with Section
7.01 (and not, for the avoidance of doubt, compliance on a Pro Forma Basis
therewith), pro forma cost savings, operating expense reductions and synergies
related to, and net of the amount of actual benefits realized during such
Subject Period from, Specified Transactions, restructurings and cost savings
initiatives or other similar initiatives that are reasonably identifiable,
factually supportable and projected by the Parent Borrower in good faith to
result from actions that have been taken or with respect to which substantial
steps have been taken, committed to be taken or are expected to be taken (in the
good faith determination of the Parent Borrower), in each case within thirty six
(36) months after such Specified Transaction, restructuring, cost savings
initiative or other initiative, and (ii) in each other calculation of Adjusted
EBITDA, pro forma cost savings, operating expense reductions and synergies
related to, and net of the amount of actual benefits realized during such
Subject Period from, Specified Transactions, restructurings and cost savings
initiatives or other similar initiatives that are reasonably identifiable,
factually supportable and projected by the Parent Borrower in good faith to
result from actions that have been taken or with respect to which substantial
steps have been taken, committed to be taken or are expected to be taken (in the
good faith determination of the Parent Borrower), in each case within twenty
four (24) months after such Specified Transaction, restructuring, cost savings
initiative or other initiative; plus (g) (i) pro forma cost savings, operating
expense reductions and synergies related to, and net of the amount of actual
benefits realized during such Subject Period from, the Original Transactions
that are reasonably identifiable, factually supportable and projected by the
Parent Borrower in good faith to be realized, and to result from actions that
have been taken, committed to be taken or with respect to which substantial
steps have been taken or are expected to be taken (in the good faith
determination of the Parent Borrower) provided that such pro forma cost savings,
operating expense reductions and synergies shall not exceed, for (x) the Subject
Periods ending on or prior to June 30, 2019, $375,000,000 (y) the Subject
Periods ending, September 30, 2019, December 31, 2019, March 31, 2020 and June
30, 2020, $150,000,000; and (z) for each Subject Period thereafter, zero. (h)
[reserved]; (i) the amount of any charge, cost or expense in connection with a
single or one-time event, including, without limitation, in connection with (x)
any acquisition or other investment consummated before or after the Restatement
Effective Date and (y) the consolidation, closing or reconfiguration of any
facility during such Subject Period; minus (j) the EBITDA of each Prior Company
and, as applicable but without duplication, the EBITDA of the Parent Borrower
and each Restricted Subsidiary attributable to all Prior 3

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necessary, to the next 1/100 of 1%) of the quotations for such day for such
transactions received by the Administrative Agent from three federal funds
brokers of recognized standing selected by it. “Fee Letters” means any Fee
Letter in connection with the Transactions dated on or prior to the Restatement
Effective Date among the Parent Borrower and the Arrangers. “Financial Covenant”
means the covenant set forth in Section 7.01. “Financial Covenant Event of
Default” has the meaning set forth in clause (d) of Section 8.01. “Financial
Officer” means the chief financial officer, executive vice president of finance
and administration, principal accounting officer, treasurer or controller of,
unless otherwise noted, the Parent Borrower (or any other officer acting in
substantially the same capacity of the foregoing). “First Amendment Effective
Date” means June 27, 2019. “First Lien Net Leverage Ratio” means, as of any date
of determination, the ratio of (a)Total Indebtedness secured by a Lien on any
asset or property of the Borrowers or any other Loan Party that is not
subordinated to the Liens securing the Obligations minus unrestricted cash and
Cash Equivalents of the Parent Borrower and its Restricted Subsidiaries as
determined in accordance with GAAP to (b) Adjusted EBITDA for the most recently
ended Test Period. “Fixed Amounts” has the meaning set forth in Section 1.03.
“Fixed Incremental Amount” has the meaning set forth in the definition of
“Incremental Amount.” “Foreign Benefit Plan” means each employee benefit plan
(within the meaning of Section 3(3) of ERISA, whether or not subject to ERISA)
that is not subject to United States law and is sponsored, maintained or
contributed to by any Loan Party or any ERISA Affiliate. “Foreign Currency
Letter of Credit” means any Letter of Credit denominated in an Alternative
Currency. “Foreign Lender” means any Lender that is organized under the laws of
a jurisdiction other than the United States of America, any state thereof or the
District of Columbia. “Foreign Subsidiary” means any Subsidiary that is not a
Domestic Subsidiary. “GAAP” means generally accepted accounting principles in
the United States of America. “Global Intercompany Note” means the Intercompany
Note, dated as of October 27, 2015, executed by the Borrowers and each
Restricted Subsidiary, as amended, restated, supplemented or otherwise modified
from time to time. 31

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“Market Intercreditor Agreement” means an intercreditor agreement the terms of
which are consistent with market terms governing security arrangements for the
sharing of liens or arrangements relating to the distribution of payments, as
applicable, at the time the intercreditor agreement is proposed to be
established in light of the type of Indebtedness subject thereto. “Material
Acquisition” means any acquisition (including pursuant to a merger,
consolidation, amalgamation or otherwise) (a) of at least a majority of the
Equity Interests of a Person, all or substantially all of the assets of any
other Person or all or substantially all of the assets of a division, line of
business or branch of such Person (in each case, in one transaction or a series
of transactions) and (b) involves the payment of consideration or assumption of
Indebtedness by the Parent Borrower and its Restricted Subsidiaries in excess of
$350,000,000. “Material Adverse Effect” means a material and adverse effect on
(a) the business, assets, financial condition or results of operations of the
Parent Borrower and its Restricted Subsidiaries, taken as a whole, (b) the
rights of or remedies available to the Administrative Agent, the Collateral
Agent or any of the Lenders, taken as a whole, under any Loan Document or (c)
the ability of the Loan Parties (taken as a whole) to perform their payment
obligations under the Loan Documents. “Material Indebtedness” means Indebtedness
(other than the Loans and Letters of Credit but including, without limitation,
obligations calculated on a mark to market basis in respect of one or more Swap
Agreements) of any one or more of the Parent Borrower and the Restricted
Subsidiaries in an aggregate principal amount exceeding the Threshold Amount.
“Material Subsidiary” means a Restricted Subsidiary that is not an Immaterial
Subsidiary. “Moody’s” means Moody’s Investors Service, Inc., or any successor to
the rating agency business thereof. “Multicurrency LC Exposure” means, at any
time, the sum of (a) the Dollar Equivalent of the aggregate undrawn amount of
all outstanding Letters of Credit denominated in Alternative Currencies at such
time plus (b) the Dollar Equivalent of the aggregate amount of all LC
Disbursements in respect of such Letters of Credit that have not yet been
reimbursed by or on behalf of any of the Borrowers at such time. The
Multicurrency LC Exposure of any Revolving Lender at any time shall be its
USD/Multicurrency Applicable Percentage of the total Multicurrency LC Exposure
at such time. “Multicurrency Revolving Exposure” means, at any time, the sum of
(a) the Dollar Equivalent of the principal amount of the Multicurrency Revolving
Loans outstanding at such time and (b) the Multicurrency LC Exposure outstanding
at such time. “Multicurrency Revolving Loans” means the revolving loans made by
Lenders holding USD/Multicurrency Revolving Commitments under Section 2.01.
“Multicurrency Revolving Sublimit” means $3,250,000,0002,750,000,000. 40

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acquisition, cancellation or termination of any Equity Interests in the Parent
Borrower or any Restricted Subsidiary. “Restricted Subsidiaries” means the
Subsidiary Loan Parties and each other Subsidiary of any Borrower that is not an
Unrestricted Subsidiary. “Return” means, with respect to any Investment, any
dividend, distribution, interest, fee, premium, return of capital, repayment of
principal, income, profit and any other amount received or realized in respect
thereof. “Revaluation Date” has the meaning set forth in Section 1.06(e).
“Revolver Extension Request” has the meaning set forth in Section 2.24(b).
“Revolver Extension Series” has the meaning set forth in Section 2.24(b).
“Revolving Availability Period” means the period from and including the
Restatement Effective Date to but excluding the earlier of the Revolving
Maturity Date and the date of termination of the Revolving Commitments.
“Revolving Commitment” means the USD/Multicurrency Revolving Commitment. The
aggregate amount of the Lenders’ Revolving Commitment as of the RestatementFirst
Amendment Effective Date is $3,250,000,0002,750,000,000. “Revolving Exposure”
means, with respect to any Lender at any time, the sum of (a) the outstanding
principal amount of such Lender’s Revolving Loans at such time that are
denominated in Dollars, plus (b) the Dollar Equivalent at such time of the
aggregate outstanding principal amount of such Lender’s Revolving Loans at such
time that are denominated in Alternative Currencies, plus (c) such Lender’s LC
Exposure at such time, plus (d) such Lender’s Swingline Exposure at such time.
“Revolving Facility” means the Revolving Commitments and the extensions of
credit made thereunder. “Revolving Lender” means, as of any date of
determination, each Lender with a Revolving Commitment or, if the Revolving
Commitments have terminated or expired, a Lender with Revolving Exposure.
“Revolving Loan” means a Loan made pursuant to clause (e) of Section 2.01, an
Incremental Revolving Loan made under the Revolving Facility or any Loan made
pursuant to any Extended Revolving Commitments, as the context may require.
“Revolving Maturity Date” means the date that is five (5) years from the
Restatement Effective Date or, with respect to any Extended Revolving
Commitments, the final maturity date applicable thereto as specified in the
applicable Extension Request accepted by the respective Lender or Lenders. 51

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jurisdiction other than the State of New York, “UCC” means the Uniform
Commercial Code as in effect from time to time in such other jurisdiction for
purposes of the provisions hereof relating to such perfection, effect of
perfection or non-perfection or priority. “Undisclosed Administration” means in
relation to a Lender or a parent company of such Lender, the appointment of an
administrator, provisional liquidator, conservator, receiver, trustee, custodian
or other similar official by a supervisory authority or regulator under or based
on the law in the country where such Lender or parent company, as the case may
be, is subject to home jurisdiction supervision if applicable law requires that
such appointment is not to be publicly disclosed “Unrestricted Subsidiaries”
means each Subsidiary of the Parent Borrower (other than a Borrower) designated
by the Parent Borrower as an “Unrestricted Subsidiary” pursuant to Section 5.13.
“U.S. Person” means any Person that is a “United States person” as defined in
Section 7701(a)(30) of the Code. “USD/Multicurrency Applicable Percentage”
means, with respect to any USD/Multicurrency Revolving Lender, subject to
Section 2.21, the percentage of the total USD/Multicurrency Revolving
Commitments represented by such Lender’s USD/Multicurrency Revolving Commitment.
If the USD/Multicurrency Revolving Commitments have terminated or expired, the
USD/Multicurrency Applicable Percentages shall be determined based upon the
USD/Multicurrency Revolving Commitments most recently in effect, giving effect
to any assignments. “USD/Multicurrency Revolving Commitment” means, with respect
to each Lender, the commitment, if any, of such Lender to make USD/Multicurrency
Revolving Loans and to acquire participations in Letters of Credit denominated
in Alternative Currencies hereunder, as such commitment may be (a) reduced from
time to time pursuant to Section 2.08, (b) reduced or increased from time to
time pursuant to assignments by or to such Lender pursuant to Section 10.04, (c)
as established or increased from time to time pursuant to an Incremental
Assumption Agreement, (d) as established from time to time pursuant to a
Refinancing Amendment and (e) as established from time to time pursuant to an
Extension Amendment. The amount of each Lender’s USD/Multicurrency Revolving
Commitment as of the Restatement Effective Date is set forth on Schedule 2.01.
The aggregate amount of the Lenders’ USD/Multicurrency Revolving Commitments as
of the RestatementFirst Amendment Effective Date is $3,250,000,0002,750,000,000.
“USD/Multicurrency Revolving Exposure” means, with respect to any Lender at any
time, the sum of the outstanding principal amount of such Lender’s (or its
Affiliate’s) USD/Multicurrency Revolving Loans and its Multicurrency LC Exposure
at such time. “USD/Multicurrency Revolving Facility” means the USD/Multicurrency
Revolving Commitments and the extensions of credit made thereunder.
“USD/Multicurrency Revolving Lender” means, as of any date of determination,
each Lender with a USD/Multicurrency Revolving Commitment or, if the
USD/Multicurrency 60

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exchange rates after the last time such determinations were made and, in any
such cases, the applicable limits set forth in Articles II or VIII , as
applicable, will not be deemed to have exceeded solely as a result of such
fluctuations in currency exchange rates. For the avoidance of doubt, in no event
shall a prepayment be required under Section 2.11(b) if the Dollar Equivalent of
the relevant amounts set forth therein does not exceed 5% of such relevant
amounts solely as a result of fluctuations in currency exchange rates. (h) For
purposes of any determination under Article V, Article VI (other than the
calculation of compliance with any financial ratio for purposes of taking any
action hereunder) or Article VIII with respect to the amount of any
Indebtedness, Lien, Restricted Payment, debt prepayment, Investment,
Disposition, affiliate transaction or other transaction, event or circumstance,
or any determination under any other provision of this Agreement (any of the
foregoing, a “subject transaction”), in a currency other than Dollars, (i) the
Dollar Equivalent of a subject transaction in a currency other than Dollar shall
be calculated based on the rate of exchange quoted on the applicable Reuters
World Currency Page (or any successor page thereto, or in the event such rate
does not appear on any Reuters Page, by reference to such other publicly
available service for displaying exchange rates as may be agreed upon by the
Administrative Agent and the Parent Borrower) for such foreign currency, as in
effect at 12:00 noon (London time) on the date of such subject transaction
(which, in the case of any Restricted Payment, shall be deemed to be the date of
the declaration thereof and, in the case of the incurrence of Indebtedness,
shall be deemed to be on the date first committed); provided, that if any
Indebtedness is incurred (and, if applicable, associated Lien granted) to
refinance or replace other Indebtedness denominated in a currency other than
Dollar, and the relevant refinancing or replacement would cause the applicable
Dollar-denominated restriction to be exceeded if calculated at the relevant
currency exchange rate in effect on the date of such refinancing or replacement,
such Dollar- denominated restriction shall be deemed not to have been exceeded
so long as the principal amount of such refinancing or replacement Indebtedness
(and, if applicable, associated Lien granted) does not exceed an amount
sufficient to repay the principal amount of such Indebtedness being refinanced
or replaced, except by an amount equal to (x) unpaid accrued interest and
premiums (including tender premiums) thereon plus other reasonable and customary
fees and expenses (including upfront fees and original issue discount) incurred
in connection with such refinancing or replacement and (y) additional amounts
permitted to be incurred under Section 6.01 and (ii) for the avoidance of doubt,
no Default or Event of Default shall be deemed to have occurred solely as a
result of a change in the rate of currency exchange occurring after the time of
any subject transaction so long as such subject transaction was permitted at the
time incurred, made, acquired, committed, entered or declared as set forth in
clause (i). For purposes of Article VII and the calculation of compliance with
any financial ratio for purposes of taking any action hereunder, on any relevant
date of determination, amounts denominated in currencies other than Dollars
shall be translated into Dollars at the applicable currency exchange rate used
in preparing the financial statements delivered pursuant to Sections 5.01(a) or
(b) , as applicable, for the most recently ended Test Period and will, with
respect to any Indebtedness, reflect the currency translation effects,
determined in accordance with GAAP, of any Swap Agreement permitted hereunder in
respect of currency exchange risks with respect to the applicable currency in
effect on the date of determination for the Dollar Equivalent amount of such
Indebtedness. Notwithstanding the foregoing sentence, solely for purposes of the
calculation of the amount 66

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referenced in clause (a) of the definition of the term “Total Net Leverage
Ratio” for purposes of the Financial Covenant referenced in Section 7.01, the
currency exchange rate with respect to Euros in relation to Dollars on any
relevant date of determination shall be the arithmetic average of the average
monthly rate at which Euros may be exchanged into Dollars for the twelve (12)
months prior to such date (as reasonably determined by the Parent Borrower in
good faith). Section 1.07 Cashless Rollovers. Notwithstanding anything to the
contrary contained in this Agreement or in any other Loan Document, to the
extent that any Lender extends the maturity date of, or replaces, renews or
refinances, any of its then-existing Loans with Incremental Loans, Extended Term
Loans, or Loans in connection with any Specified Refinancing Debt or Loan
Modification or loans incurred under a new credit facility, in each case, to the
extent such extension, replacement, renewal or refinancing is effected by means
of a “cashless roll” by such Lender, such extension, replacement, renewal or
refinancing shall be deemed to comply with any requirement hereunder or any
other Loan Document that such payment be made “in Dollars”, “in immediately
available funds”, “in cash” or any other similar requirement. Section 1.08 Pro
Forma Calculations. (a) Notwithstanding anything to the contrary herein,
Adjusted EBITDA, EBITDA, Consolidated Net Income and any financial ratios or
tests, including the First Lien Net Leverage Ratio, the Secured Net Leverage
Ratio and the Total Net Leverage Ratio, shall be calculated in the manner
prescribed by this Section 1.08; provided that notwithstanding anything to the
contrary in clauses (b), (c) or (d) of this Section 1.08, when calculating the
Total Net Leverage Ratio for purposes of determining actual compliance (and not
Pro Forma Compliance, compliance on a Pro Forma Basis or determining compliance
giving Pro Forma Effect to a transaction) with Section 7.01, the events
described in this Section 1.08 that occurred subsequent to the end of the
applicable Test Period shall not be given Pro Forma Effect. (b) For purposes of
calculating Adjusted EBITDA, EBITDA, Consolidated Net Income and any financial
ratios or tests, including the First Lien Net Leverage Ratio, the Secured Net
Leverage Ratio and the Total Net Leverage Ratio, Specified Transactions (and the
incurrence or repayment of any Indebtedness in connection therewith, subject to
clause (d) of this Section 1.08) that have been made (i) during the applicable
Test Period or (ii) subsequent to such Test Period and prior to or
simultaneously with the event for which the calculation of Adjusted EBITDA,
EBITDA, Consolidated Net Income or any such ratio is made shall be calculated on
a Pro Forma Basis assuming that all such Specified Transactions (and any
increase or decrease in Adjusted EBITDA, EBITDA, Consolidated Net Income and the
component financial definitions used therein attributable to any Specified
Transaction) had occurred on the first day of the applicable Test Period. (c)
Whenever Pro Forma Effect is to be given to a Specified Transaction, the pro
forma calculations shall be made in good faith by a Responsible Officer of the
Parent 67

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ARTICLE VII FINANCIAL COVENANT Section 7.01 Leverage Ratio. Solely with respect
to the Revolving Facility and Term A Facility, until the Date of Full
Satisfaction (solely with respect to the Revolving Facility and the Term A
Facility), the Parent Borrower covenants and agrees with Lenders that as of the
last day of each fiscal quarter commencing with the first full fiscal quarter
following the Restatement Effective Date, the Parent Borrower shall not permit
the Total Net Leverage Ratio for any Test Period set forth below to exceed the
applicable level set forth below opposite such Test Period under the heading
“Total Net Leverage Ratio”: Test Periods Ending Total Net Leverage Ratio June
30, 2018 5.50 to 1.00 September 30, 2018 5.50 to 1.00 December 31, 2018 5.50 to
1.00 March 31, 2019 5.25 to 1.00 June 30, 2019 5.25 to 1.00 September 30, 2019
5.005.25 to 1.00 December 31, 2019 5.005.25 to 1.00 March 31, 2020 4.755.25 to
1.00 June 30, 2020 4.755.25 to 1.00 September 30, 2020 4.505.25 to 1.00 December
31, 2020 4.505.25 to 1.00 March 31, 2021 4.255.25 to 1.00 June 30, 2021 4.255.25
to 1.00 September 30, 2021 4.005.25 to 1.00 December 31, 2021 4.005.25 to 1.00
March 31, 2022 4.005.00 to 1.00 June 30, 2022 4.004.75 to 1.00 September 30,
2022 4.004.50 to 1.00 December 31, 2022 4.004.25 to 1.00 March 31, 2023 4.00 to
1.00 June 30, 2023 4.00 to 1.00 Notwithstanding the foregoing, for the four
fiscal quarters ended immediately following the closing of a Material
Acquisition (including the fiscal quarter in which such Material Acquisition
occurs), the applicable Total Net Leverage Ratio level for purposes of this
Section 7.01 shall be the lesser of (x) 1.00:1.00 higher than the otherwise
applicable level and (y) 5.95:1.00; provided, however, that, immediately after
any such four fiscal quarter period, there shall be at least two consecutive
fiscal quarters during which the Total Net Leverage Ratio shall be equal to or
less than the applicable level set forth above opposite the applicable Test
Period (irrespective of whether any other Material Acquisition has been
consummated during such period). 164

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