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EXECUTION VERSION SECOND AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT
AGREEMENT This SECOND AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT
(this “Amendment”) is dated as of March 15, 2019, by and among UBIQUITI
NETWORKS, INC., a Delaware corporation (the “Parent Borrower”), and UBIQUITI
INTERNATIONAL HOLDING COMPANY LIMITED, an exempted company incorporated under
the laws of the Cayman Islands (the “Cayman Borrower” and, together with the
Parent Borrower, the “Borrowers”), certain Subsidiaries of the Borrowers party
hereto (the “Guarantors”), each of the Lenders party hereto, and WELLS FARGO
BANK, NATIONAL ASSOCIATION, as administrative agent for the Lenders (in such
capacity, the “Administrative Agent”). Statement of Purpose The Borrowers, the
Lenders party thereto and the Administrative Agent are parties to that certain
Second Amended and Restated Credit Agreement dated as of January 17, 2018 (as
amended, restated, supplemented or otherwise modified from time to time prior to
the date hereof, the “Existing Credit Agreement”, and as amended by this
Amendment, the “Credit Agreement”), pursuant to which the Lenders have extended
a term loan to the Parent Borrower and a revolving credit facility to the
Borrowers. The Borrowers have requested, and subject to the terms and conditions
set forth herein, the Administrative Agent and the Lenders have agreed, to amend
the Existing Credit Agreement as specifically set forth herein. NOW, THEREFORE,
for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto hereby agree as follows: 1. Capitalized
Terms. All capitalized undefined terms used in this Amendment (including,
without limitation, in the introductory paragraph and the Statement of Purpose
hereto) shall have the meanings assigned thereto in the Credit Agreement. 2.
Amendments to Existing Credit Agreement. Subject to and in accordance with the
terms and conditions set forth herein, the parties hereto agree that the
Existing Credit Agreement is amended as follows: (a) the definition of
“Permitted Acquisition” in Section 1.1 of the Existing Credit Agreement is
hereby amended by amending and restating clause (h) thereof in its entirety as
follows: “(h) the Administrative Agent and the Required Lenders shall have
provided their written consent prior to the consummation of such acquisition if
the aggregate amount of the purchase price, including, but not limited to, any
assumed debt, earn-outs (valued at the maximum amount payable thereunder),
deferred payments, or Equity Interests of a Borrower, to be paid in cash on a
singular basis in connection with such acquisition (or series of related
acquisitions), together with all other acquisitions consummated during the term
of this Agreement (excluding any portion of the acquisitions paid from any
Equity Issuance) exceeds in the aggregate (x) $100,000,000 minus (y) the
aggregate amount of Investments made pursuant to Section 8.3(m) during the term
of this Agreement.” (b) The proviso in Section 1.3(b) of the Existing Credit
Agreement is hereby amended by (1) replacing the “and” after clause (i) with “,”
and (2) adding a new clause (iii) immediately after clause (ii) as follows:
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“and (iii) any lease that was classified or accounted for as an operating lease
as of (and any similar lease entered into after) the Closing Date in accordance
with GAAP shall be classified or accounted for as an operating lease and not a
capital lease, even though, as a result of a change in GAAP or the Parent
Borrower’s implementation of Financial Accounting Board Accounting Standards
Codification 842, such lease would be classified and accounted for as a capital
lease under GAAP.” (c) Section 8.1 of the Existing Credit Agreement is hereby
amended by amending and restating clause (d) thereof in its entirety as follows:
“(d) Attributable Indebtedness with respect to Capital Lease Obligations and
purchase money Indebtedness in an aggregate amount not to exceed $75,000,000 at
any time outstanding;” (d) Section 8.3 of the Existing Credit Agreement is
hereby amended by (i) deleting “and” from the end of clause (k) thereof, (ii)
replacing the period at the end of clause (l) thereof with “; and” and (iii)
adding a new clause (m) immediately following clause (l) as follows: “(m)
Investments consisting of purchases of minority Equity Interests in Persons that
are not and will not become Affiliates of the Parent Borrower or any of its
Subsidiaries (and any Investments made by Credit Parties in Non-Credit Parties
the proceeds of which are used to fund such purchases of minority Equity
Interests) in an aggregate amount during the term of this Agreement not to
exceed (x) $100,000,000 minus (y) the aggregate amount of Permitted Acquisitions
made during the term of this Agreement (based on the aggregate amount of the
purchase price, including, but not limited to, any assumed debt, earn-outs
(valued at the maximum amount payable thereunder), deferred payments, or Equity
Interests of a Borrower, to be paid in cash in connection with such Permitted
Acquisitions, but excluding any portion of such Permitted Acquisitions paid from
any Equity Issuance); provided that (i) no Default or Event of Default shall
have occurred and be continuing both before and after giving effect to such
Investment, (ii) the Person or business in which such Investment is made shall
be in a line of business permitted pursuant to Section 8.11, and (iii) the
Parent Borrower is in compliance on a Pro Forma Basis (for the most recent
fiscal quarter end preceding such Investment for which financial statements are
available and after giving effect thereto and any Indebtedness incurred in
connection therewith) with (A) Section 8.13(b) and (B) a Consolidated Total
Leverage Ratio no greater than 3.00 to 1.00.” (e) The last sentence of Section
8.3 of the Existing Credit Agreement is hereby amended by adding “(other than
under clause (m))” after “this Section 8.3”. 3. Conditions to Effectiveness. The
effectiveness of this Amendment shall be subject to the Administrative Agent’s
receipt of this Amendment, duly executed by each of the Credit Parties, the
Administrative Agent and the Required Lenders. 4. Limited Effect. Except as
expressly provided herein, the Credit Agreement and the other Loan Documents
shall remain unmodified and in full force and effect. This Amendment shall not
be deemed (a) to be a waiver of, or consent to, or a modification or amendment
of, any other term or condition of the Credit Agreement or any other Loan
Document other than as expressly set forth herein, (b) to prejudice any right or
rights which the Administrative Agent or the Lenders may now have or may have in
the future under or in connection with the Credit Agreement or the other Loan
Documents or any of the instruments or agreements referred to therein, as the
same may be amended, restated, supplemented or 113985525_6

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modified from time to time, or (c) to be a commitment or any other undertaking
or expression of any willingness to engage in any further discussion with the
Borrowers, any of their Subsidiaries or any other Person with respect to any
other waiver, amendment, modification or any other change to the Credit
Agreement or the Loan Documents or any rights or remedies arising in favor of
the Lenders or the Administrative Agent, or any of them, under or with respect
to any such documents. References in the Credit Agreement to “this Agreement”
(and indirect references such as “hereunder”, “hereby”, “herein”, “hereof” or
other words of like import) and in any Loan Document to the “Credit Agreement”
shall be deemed to be references to the Credit Agreement as modified hereby. 5.
Representations and Warranties. Each Borrower and each Guarantor represents and
warrants that (a) it has the corporate or other equivalent power and authority
to make, deliver and perform this Amendment, (b) it has taken all necessary
corporate or other equivalent action to authorize the execution, delivery and
performance of this Amendment, (c) this Amendment has been duly executed and
delivered on behalf of such Person, (d) this Amendment constitutes a legal,
valid and binding obligation of such Person, enforceable against it in
accordance with its terms, except as enforceability may be limited by applicable
bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the
enforcement of creditors’ rights generally and by general equitable principles
(whether enforcement is sought by proceedings in equity or at law), (e) each of
the representations and warranties made by such Credit Party in or pursuant to
the Loan Documents is true and correct in all material respects (except to the
extent that such representation and warranty is subject to a materiality or
Material Adverse Effect qualifier, in which case it shall be true and correct in
all respects), in each case on and as of the date hereof as if made on and as of
the date hereof, except to the extent that such representations and warranties
relate to an earlier date, in which case such representations and warranties are
true and correct in all material respects as of such earlier date and (f) after
giving effect to this Amendment, no Default or Event of Default has occurred and
is continuing as of the date hereof or would result after giving effect to this
Amendment and the transactions contemplated hereby. 6. Acknowledgement and
Reaffirmation. By their execution hereof, each Borrower and each Guarantor
hereby expressly (a) consents to this Amendment, (b) acknowledges that the
covenants, representations, warranties and other obligations set forth in the
Credit Agreement, the Notes and the other Loan Documents to which such Borrower
or such Guarantor is a party remain in full force and effect (it being
understood and agreed that to the extent any such covenants, representations,
warranties or other obligations are expressly modified herein, such covenants,
representations, warranties or obligations shall continue in full force and
effect as expressly modified herein) and (c) ratifies and reaffirms any
guarantee and grant of security interests and Liens on any of their respective
Collateral pursuant to any Loan Document as security for or otherwise
guaranteeing the Obligations under or with respect to the Loan Documents and
confirm and agree that such security interests and Liens are in all respects
continuing and in full force and effect and shall continue to secure all of the
Obligations under the Loan Documents (after giving effect to this Amendment). 7.
Costs, Expenses and Taxes. The Borrowers agree to pay all reasonable and
documented out-of-pocket costs and expenses of the Administrative Agent in
connection with the preparation, execution, delivery and administration of this
Amendment and the other instruments and documents to be delivered hereunder,
including, without limitation, the reasonable and documented fees and
out-of-pocket expenses of counsel for the Administrative Agent. 8. Execution in
Counterparts. This Amendment may be executed by one or more of the parties
hereto in any number of separate counterparts and all of said counterparts taken
together shall be deemed to constitute one and the same instrument. Delivery of
an executed signature page of this Amendment by facsimile, telecopy, pdf or
other electronic transmission shall be effective as delivery of a manually
executed counterpart hereof. 113985525_6

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9. Governing Law. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES
UNDER THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE
LAW OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO THE CONFLICTS OR CHOICE OF
LAW PRINCIPLES THEREOF. 10. Entire Agreement. This Amendment is the entire
agreement, and supersedes any prior agreements and contemporaneous oral
agreements, of the parties concerning its subject matter. This Amendment is a
Loan Document and is subject to the terms and conditions of the Credit
Agreement. 11. Successors and Assigns. This Amendment shall be binding on and
inure to the benefit of the parties and their heirs, beneficiaries, successors
and permitted assigns. [Remainder of page intentionally left blank; signature
pages follow] 113985525_6

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
under seal by their duly authorized officers, all as of the day and year first
written above. Borrowers: UBIQUITI NETWORKS, INC., as Parent Borrower By: /s/
Kevin Radigan Name: Kevin Radigan Title: Chief Accounting Officer UBIQUITI
INTERNATIONAL HOLDING COMPANY LIMITED, as Cayman Borrower By: /s/ Robert J. Pera
Name: Robert J. Pera Title: Director Guarantors: UBIQUITI CAYMAN LIMITED, as
Guarantor By: /s/ Robert J. Pera Name: Robert J. Pera Title: Director UBIQUITI
NETWORKS INTERNATIONAL LIMITED, as Guarantor By: /s/ Robert J. Pera Name: Robert
J. Pera Title: Director UBIQUITI ENERGY, LLC, as Guarantor By: Ubiquiti Networks
Inc., its manager By: /s/ Kevin Radigan Name: Kevin Radigan Title: Chief
Accounting Officer Ubiquiti Networks, Inc. Second Amendment to Second Amended
and Restated Credit Agreement Signature Page

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UBIQUITI LABS, LLC, as Guarantor By: Ubiquiti Networks Inc., its manager By: /s/
Kevin Radigan Name: Kevin Radigan Title: Chief Accounting Officer UBIQUITI
GLOBAL ENERGY LIMITED, as Guarantor By: /s/ Robert J. Pera Name: Robert J. Pera
Title: Director Ubiquiti Networks, Inc. Second Amendment to Second Amended and
Restated Credit Agreement Signature Page

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Administrative Agent and Lenders: WELLS FARGO BANK, NATIONAL ASSOCIATION, as
Administrative Agent and Lender By: /s/ Lacy Houston Name: Lacy Houston Title:
Managing Director Ubiquiti Networks, Inc. Second Amendment to Second Amended and
Restated Credit Agreement Signature Page

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HSBC BANK USA, NATIONAL ASSOCIATION, as Lender By: /s/ Radmila Stolle Name:
Radmila Stolle Title: Global Relationship Manager Ubiquiti Networks, Inc. Second
Amendment to Second Amended and Restated Credit Agreement Signature Page

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FIFTH THIRD BANK, as Lender By: /s/ Valerie Schanzer Name: Valerie Schanzer
Title: Managing Director Ubiquiti Networks, Inc. Second Amendment to Second
Amended and Restated Credit Agreement Signature Page

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U.S. BANK NATIONAL ASSOCIATION, as Lender By: /s/ Matt S. Scullin Name: Matt S.
Scullin Title: Senior Vice President Ubiquiti Networks, Inc. Second Amendment to
Second Amended and Restated Credit Agreement Signature Page

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PNC BANK, NATIONAL ASSOCIATION, as Lender By: /s/ Cheryl L. Sekelsky Name:
Cheryl L. Sekelsky Title: Vice President Ubiquiti Networks, Inc. Second
Amendment to Second Amended and Restated Credit Agreement Signature Page

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MUFG UNION BANK, N.A., as Lender By: /s/ Matthew Antioco Name: Matthew Antioco
Title: Director Ubiquiti Networks, Inc. Second Amendment to Second Amended and
Restated Credit Agreement Signature Page

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MUFG BANK, LTD. (f/k/a THE BANK OF TOKYO­ MITSUBISHI UFJ, LTD.), as Lender By:
/s/ Matthew Antioco Name: Matthew Antioco Title: Director Ubiquiti Networks,
Inc. Second Amendment to Second Amended and Restated Credit Agreement Signature
Page

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TD BANK, N.A., as Lender By: /s/ MB Collins Name: M. Bernadette Collins Title:
SVP Ubiquiti Networks, Inc. Confidential Second Amendment to Second Amended and
Restated Credit Agreement Signature Page

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BRANCH BANKING AND TRUST COMPANY, as Lender By: /s/ Sharona Yen Name: Sharona
Yen Title: Banking Officer Ubiquiti Networks, Inc. Second Amendment to Second
Amended and Restated Credit Agreement Signature Page

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MANUFACTURERS BANK, as Lender By: /s/ Charles Jou Name: Charles Jou Title: SVP
Ubiquiti Networks, Inc. Second Amendment to Second Amended and Restated Credit
Agreement Signature Page

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