Document:

Exhibit 10.1

 

EXECUTION VERSION

 

AMENDMENT dated as of December 20, 2013 (this "Amendment"), relating to the Credit Agreement dated as of November 28, 2001, as amended and restated as of May 18, 2012 (as in effect prior to the effectiveness of this Amendment, the "Existing Credit Agreement"), among COMPASS MINERALS INTERNATIONAL, INC. (the "US Borrower"), SIFTO CANADA CORP. (the "Canadian Borrower"), SALT UNION LIMITED (the "UK Borrower" and, together with the US Borrower and the Canadian Borrower, the "Borrowers"), the LENDERS from time to time party thereto and JPMORGAN CHASE BANK, N.A., as Administrative Agent (the "Administrative Agent"), and to the US Collateral and Guaranty Agreement dated as of November 28, 2001, as amended and restated as of December 22, 2005 and as further amended by the First Amendment dated as of September 30, 2010 (the "CGA"), among the US Borrower, each other Subsidiary of the US Borrower party thereto and the Administrative Agent, on behalf of itself and the other Secured Parties.

WHEREAS, the Borrowers have requested that the Existing Credit Agreement be amended pursuant to Section 2.28 thereof to (a) refinance the full amount of the US Revolving Loan Commitments under the Existing Credit Agreement with Other US Revolving Loan Commitments in an aggregate principal amount of $75,000,000 having a maturity and commitment termination date of August 18, 2017 (the "New US Revolving Loan Commitments") and (b) refinance the full amount of the Global Revolving Loan Commitments under the Existing Credit Agreement with Other Global Revolving Loan Commitments in an aggregate principal amount of $50,000,000 having a maturity and commitment termination date of August 18, 2017 (the "New Global Revolving Loan Commitments" and, together with the New US Revolving Loan Commitments, the "New Revolving Loan Commitments") and, upon the effectiveness of the New Revolving Loan Commitments hereunder, repay all Revolving Loans and B/A Drawings outstanding immediately prior to such effectiveness, if any, with the proceeds of Revolving Loans, B/A Drawings under the New Revolving Loan Commitments or other funds available to the Borrowers;

WHEREAS, subject to the terms and conditions set forth herein, each Person party hereto whose name is set forth on Schedule I attached hereto under the heading "Revolving Lenders" (each such Person, a "New Revolving Lender") has agreed to provide a New US Revolving Loan Commitment and/or a New Global Revolving Loan Commitment in the amount or amounts set forth opposite its name on such Schedule;

 

WHEREAS, the Borrowers have further requested that certain other provisions of the Existing Credit Agreement and the CGA be amended as set forth herein;

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WHEREAS, in order to effect the foregoing refinancing (the "Refinancing Transactions") and implement such amendments, the Borrowers and the other parties hereto desire to amend the Existing Credit Agreement (the Existing Credit Agreement, as so amended, being referred to as the "Amended Credit Agreement") and the CGA as of the Amendment Effective Date (as defined below) and to enter into certain other agreements herein, in each case on the terms and subject to the conditions set forth herein;

NOW, THEREFORE, in consideration of the above premises and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Borrowers, the Administrative Agent and the Lenders party hereto hereby agree as follows:

SECTION 1.  Defined Terms. Capitalized terms used but not otherwise defined herein (including in the preliminary statements hereto) have the meanings assigned to them in the Existing Credit Agreement or the Amended Credit Agreement, as the context may require.

SECTION 2.  New Revolving Loan Commitments.  1)Subject to the terms and conditions set forth herein, effective as of the Amendment Effective Date, all US Revolving Loan Commitments and all Global Revolving Loan Commitments in effect immediately prior to the Amendment Effective Date (the "Existing Revolving Loan Commitments") will be terminated pursuant to Section 2.09(b) of the Existing Credit Agreement; provided, however, that the foregoing shall not affect (1) the obligations of any Letter of Credit Issuer or any Letters of Credit outstanding immediately prior to the Amendment Effective Date or (2) the obligation of the Swingline Lender to make Swingline Loans pursuant to Section 2.04 of the Existing Credit Agreement or any Swingline Loans outstanding immediately prior to the Amendment Effective Date.

(b)  Subject to the terms and conditions set forth herein, on the Amendment Effective Date, simultaneously with the termination of the Existing Revolving Loan Commitments pursuant to paragraph (a) above, (i) each New Revolving Lender shall become or continue to be, as applicable, a "US Revolving Lender" and/or a "Global Revolving Lender", a "Revolving Lender" and a "Lender" under the Amended Credit Agreement, and shall have all the rights and obligations of a Lender holding a US Revolving Loan Commitment and/or a Global Revolving Loan Commitment thereunder, as the case may be, and (ii) the US Revolving Loan Commitment and/or the Global Revolving Loan Commitment of each New Revolving Lender will be the amount of such commitment, if any, set forth with respect to such New Revolving Lender on Schedule I hereto.  The commitments of the New Revolving Lenders are several, and no New Revolving Lender shall be responsible for any other New Revolving Lender's failure to fund Revolving Loans.

(c)  Subject to the terms and conditions set forth herein, effective as of the Amendment Effective Date, for all purposes of the Credit Documents (i) each reference 

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to "US Revolving Loan Commitments", "Global Revolving Loan Commitments", "Loans" and "B/As", as the case may be, of the relevant Tranche under the Amended Credit Agreement shall be deemed to be references to the New US Revolving Loan Commitments and the New Global Revolving Loan Commitments of each New Revolving Lender, and the Loans made or B/As purchased or accepted pursuant to such New Revolving Loan Commitments, as the case may be, and (ii) all Letters of Credit and Swingline Loans outstanding immediately prior to the Amendment Effective Date shall continue to be Letters of Credit and Swingline Loans issued pursuant to the Amended Credit Agreement.

(d)  On the Amendment Effective Date, each New Revolving Lender with a New US Revolving Loan Commitment will automatically and without further action be deemed to have acquired a participation in each Letter of Credit issued under the Existing Credit Agreement that is outstanding on the Amendment Effective Date in accordance with Section 2.05(d) of the Amended Credit Agreement in an amount equal to such US Revolving Lender's US Revolving Percentage (as defined in the Amended Credit Agreement) of the amount of each such outstanding Letter of Credit (if any).  On the Amendment Effective Date, each New Revolving Lender with a New US Revolving Loan Commitment will automatically and without further action be obligated to acquire and fund participations in any Swingline Loans outstanding (if any) on the Amendment Effective Date in accordance with the provisions of Section 2.04(c) of the Amended Credit Agreement.  On the Amendment Effective Date, each US Revolving Lender with Existing Revolving Loan Commitments will cease, in such capacity, to have any obligation to acquire or fund participations in Letters of Credit or Swingline Loans, provided that any such US Revolving Lender that is a New Revolving Lender with a New US Revolving Loan Commitment will be obligated to acquire and fund participations in accordance with its US Revolving Percentage attributable to such New US Revolving Loan Commitment as contemplated above and pursuant to Sections 2.04(c) and 2.05(d) of the Amended Credit Agreement.  The Swingline Lender and each Letter of Credit Issuer consents to the foregoing.

(e)  If there are any Revolving Loans outstanding immediately prior to the Amendment Effective Date (the "Existing Revolving Loans") or any B/As outstanding immediately prior to the Amendment Effective Date (the "Existing B/As"), such Existing Revolving Loans and Existing B/As shall be prepaid in full by the applicable Borrower on the Amendment Effective Date.  Such prepayment may be financed (subject to satisfaction of applicable borrowing conditions under Article IV of the Amended Credit Agreement (with all references in such Article to a Credit Event being deemed to be references to this Amendment)) with the proceeds of Revolving Loans or of purchases and acceptances of B/As of the applicable Tranche made on such date by the New Revolving Lenders in accordance with each such Lender's US Revolving Percentage (as defined in the Amended Credit Agreement) or Global Revolving Percentage (as defined in the Amended Credit Agreement), as applicable.  The New Revolving Lenders, constituting a majority in interest of the US Revolving Lenders and of the Global Revolving Lenders with Existing Revolving Loan Commitments (the "Existing Revolving Lenders"), hereby waive the requirement that the applicable Borrower provide 

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advance notice of such prepayment pursuant to Section 2.11(c) of the Existing Credit Agreement.  On the Amendment Effective Date, the Borrowers will pay to the Administrative Agent, for the accounts of the relevant Existing Revolving Lenders, (A) accrued and unpaid interest on the principal amounts of their Existing Revolving Loans being prepaid, (B) all breakage costs and other amounts owing to each such Existing Revolving Lender pursuant to Section 2.17 of the Existing Credit Agreement and (C) all accrued and unpaid Commitment Fees and Letter of Credit participation fees payable pursuant to Section 2.13(a) and (b) of the Existing Credit Agreement.  In addition, the Borrowers will on the Amendment Effective Date prepay all Existing B/As by making the required deposit, for the accounts of the applicable Existing Revolving Lenders, in the Prepayment Account contemplated by Section 2.11(e) of the Amended Credit Agreement, and notwithstanding anything to the contrary contained therein, such deposits and any earnings thereon (to the extent not distributed to the Canadian Borrower in accordance with such Section) will be held and applied solely for the benefit of the Existing Revolving Lenders and payment of such B/As on the last day of their Contract Periods.

(f)  Each New Revolving Lender, by delivering its signature page to this Amendment on the Amendment Effective Date, shall be deemed to have agreed and consented to the amendment of the Existing Credit Agreement as contemplated hereby and to have acknowledged receipt of, and consented to and approved, each Credit Document and each other document required to be delivered to, approved by or satisfactory to, the Administrative Agent or any Lenders on the Amendment Effective Date.

(g)  The Administrative Agent hereby consents to this Amendment and confirms that each New Revolving Lender not already a Lender under the Existing Credit Agreement immediately prior to the effectiveness of this Amendment is acceptable to it.

(h)  Effective as of the Amendment Effective Date, Schedule I to the Existing Credit Agreement is hereby amended and restated to be in the form of Schedule I attached hereto.  Except as expressly set forth in the immediately preceding sentence, all schedules and exhibits referred to in the Amended Credit Agreement shall be deemed to refer to the corresponding schedules and exhibits to the Existing Credit Agreement.

SECTION 3.  Amendment of the Existing Credit Agreement.  Effective as of the Amendment Effective Date, the Existing Credit Agreement is amended as follows:

(a)   Schedule I of the Existing Credit Agreement is replaced by Schedule I attached hereto.  Except as expressly set forth in the immediately preceding sentence, all schedules and exhibits referred to in the Amended Credit Agreement shall be the same as the corresponding schedules and exhibits to the Existing Credit Agreement

(b)  Section 1.01 is amended by replacing the table in the definition of "Applicable Rate" with the following table:

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Total Leverage Ratio

	 	
Eurodollar Revolving 

Loans and B/A 

Drawings

	 	 	
Base Rate Revolving 

Loans, Canadian Base 

Rate Loans and 

Canadian Prime Rate 

Loans

	 	 	
Commitment

Fee

	 
	
Greater than 3.50:1.00

	 	 	
2.50

	
%

	 	 	
1.50

	
%

	 	 	
0.50

	
%

	
Less than or equal to 3.50:1.00 but greater than 2.50:1.00

	 	 	
2.25

	
%

	 	 	
1.25

	
%

	 	 	
0.40

	
%

	
Less than or equal to 2.50:1.00 but greater than 1.75:1.00

	 	 	
2.00

	
%

	 	 	
1.00

	
%

	 	 	
0.30

	
%

	
Less than or equal to 1.75:1.00 but greater than 1.00:1.00

	 	 	
1.75

	
%

	 	 	
0.75

	
%

	 	 	
0.30

	
%

	
Less than or equal to 1.00:1.00

	 	 	
1.50

	
%

	 	 	
0.50

	
%

	 	 	
0.30

	
%

 

(c)  Section 1.01 is amended by adding the following definitions in the appropriate alpha numeric order:

(i) "2013 Amendment" shall mean the Amendment dated as of December 20, 2013 among the Borrowers, the Lenders party thereto and the Administrative Agent.

(ii) "2013 Amendment Effective Date" shall mean the date on which the 2013 Amendment becomes effective in accordance with its terms.

(d)  Section 1.01 is amended by revising the last two sentences of the definition of "Global Revolving Loan Commitment" to read as follows:  "The amount of each Global Revolving Lender's Global Revolving Loan Commitment on the 2013 Amendment Effective Date is set forth opposite such Lender's name in Schedule I directly below the column entitled "Global Revolving Loan Commitment" or in the Assignment and Assumption Agreement pursuant to which such Lender shall have assumed its Global Revolving Loan Commitment, as applicable.  The aggregate amount of the Global Revolving Lenders' Global Revolving Loan Commitments on the 2013 Amendment Effective Date is $50,000,000.

(e)  Section 1.01 is amended by revising the definition of "Intercompany Notes" to read as follows:

"Intercompany Notes" shall mean promissory notes, in the form of Exhibit I (or in such other form not adverse to the interest of the Lenders and reasonably satisfactory to the Administrative Agent), evidencing Intercompany Loans.

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(f)  Section 1.01 is amended by revising the definition of "Revolving Availability Period" to read as follows:

"Revolving Availability Period" shall mean the period from and including the 2013 Amendment Effective Date to but excluding the earlier of (a) the Revolving Loan Maturity Date and (b) the date of termination of both the US Revolving Loan Commitments as provided for herein and the Global Revolving Loan Commitments as provided for herein.

(g)  Section 1.01 is amended by revising the definition of "Revolving Loan Maturity Date" to read as follows:

"Revolving Loan Maturity Date" shall mean August 18, 2017.

(h)  Section 1.01 is amended by revising the last two sentences of the definition of "US Revolving Loan Commitment" to read as follows:  "The amount of each US Revolving Lender's US Revolving Loan Commitment on the 2013 Amendment Effective Date is set forth opposite such Lender's name in Schedule I directly below the column entitled "US Revolving Loan Commitment" or in the Assignment and Assumption Agreement pursuant to which such Lender shall have assumed its US Revolving Loan Commitment, as applicable.  The aggregate amount of the US Revolving Lenders' US Revolving Loan Commitments on the 2013 Amendment Effective Date is $75,000,000.

(i)  Section 6.11(a) is amended by replacing the parenthetical immediately prior to the penultimate proviso in such Section with the following:

(although (x) no Wholly-Owned Foreign Subsidiary shall be required to enter into any Guaranty or Security Document pursuant to this Section 6.11 and (y) Equity Interests of any Wholly-Owned Foreign Subsidiary shall not be required to be pledged to secure US Obligations (as defined in the US Collateral and Guaranty Agreement), in each case, to the extent that the US Collateral Agent and the US  Borrower determines that the detriment (including as a result of the cost or tax consequences) to any Borrower of any such action, as applicable, would be excessive in view of the related benefits to be received by the Secured Parties)

(j)  Section 7.14 is amended by adding the phrase "(other than a Guarantor)" after the first reference to "Subsidiary" in clause (b) thereto.

SECTION 4.   Amendment of the CGA.  On the Amendment Effective Date, Section 4.03(i) of the CGA is amended by (a) replacing the reference to "$250,000" therein with "$750,000" and (b) replacing the reference to "March 31, 2006" therein with "December 20, 2013".

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SECTION 5.   Representations and Warranties.  To induce each other party hereto to enter into this Amendment, each Borrower hereby represents and warrants to each other party hereto that:

(a)  this Amendment has been duly authorized, executed and delivered by each Borrower and constitutes a legal, valid and binding obligation of each Borrower, enforceable in accordance with its terms, except to the extent that the enforceability hereof may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws generally affecting creditors' rights and by equitable principles (regardless of whether enforcement is sought in equity or at law);

(b)  the representations and warranties of each Borrower set forth in the Amended Credit Agreement and each other Credit Document are true and correct in all material respects with the same effect as though such representations and warranties had been made on the Amendment Effective Date (it being understood and agreed that any representation or warranty that by its terms is made as of a specified date shall be true and correct in all material respects only as of such specified date); and

(c)  on the Amendment Effective Date and immediately after giving effect to this Amendment and the transactions contemplated hereby, no Default or Event of Default under the Amended Credit Agreement has occurred and is continuing.

SECTION 6.  Effectiveness of Amendment.  This Amendment will become effective on the first date (the "Amendment Effective Date") on which each of the following conditions shall be satisfied:

(a)  the Administrative Agent (or its counsel) shall have received from (i) each Borrower, (ii) each New Revolving Lender, (iii) existing Lenders (including New Revolving Lenders that are existing Lenders) constituting the Required Lenders and (iv) each Subsidiary of the US Borrower party to the CGA either (A) counterparts of this Amendment signed on behalf of such parties or (B) written evidence satisfactory to the Administrative Agent (which may include facsimile or other electronic transmissions of signed signature pages) that such parties have signed counterparts of this Amendment;

(b)  each Credit Party (other than the Foreign Credit Parties organized under the Laws of (i) Chile, (ii) Cayman Islands and (iii) England and Wales in the United Kingdom, except for the UK Borrower and Compass Minerals (Europe) Limited) shall have executed and delivered to the Administrative Agent a reaffirmation agreement ratifying all the Security Documents to which it is a party, each in form and substance reasonably satisfactory to the Administrative Agent;

(c)  the representations and warranties set forth in Section 5 above shall be true and correct on and as of the Amendment Effective Date and the Administrative Agent shall have received a certificate from each Borrower dated the Amendment Effective Date signed by an Authorized Officer of such Borrower certifying (i) that the representations and warranties set forth in Section 5 above are true and correct as of the 

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Amendment Effective Date and (ii) that the requirements set forth in this Section 6 have been satisfied as of the Amendment Effective Date;

(d)  the Administrative Agent shall have received opinions, addressed to the Administrative Agent, the Collateral Agent and each of the Lenders and dated the Amendment Effective Date, in each case in form and substance reasonably satisfactory to the Administrative Agent, from (i) Latham & Watkins LLP, special counsel to the Credit Parties, (ii) Fasken Martineau DuMoulin LLP, special Canada counsel to the Credit Parties, (iii) DLA Piper UK LLP, special English counsel to the Credit Parties, (iv) Allen & Overy Luxembourg, special Luxembourg counsel to the Credit Parties, (v) McInnes Cooper, special Canada counsel to the Credit Parties, (vi) Clifford Chance Luxembourg, special Luxembourg counsel to the Administrative Agent, (vii) Blake, Cassels & Graydon LLP, special Canada counsel to the Administrative Agent, (viii) Allen & Overy (UK), special English counsel to the Administrative Agent and (ix) local counsel to the Credit Parties in Illinois, Kansas, Louisiana, Utah and Wisconsin in the United States;1

(e)  (i) the Administrative Agent shall have received from each Credit Party (other than the Foreign Credit Parties organized under the Laws of (i) Chile, (ii) Cayman Islands and (iii) England and Wales in the United Kingdom, except for the UK Borrower and Compass Minerals (Europe) Limited) a certificate, dated the Amendment Effective Date, signed by an Authorized Officer of such Credit Party (or, in the case of any Foreign Credit Party, an authorized signatory thereof as permitted under applicable law and the relevant charter documents of such Foreign Credit Party), and attested to by the secretary or any assistant secretary of such Credit Party (or, in the case of any Foreign Credit Party, another authorized signatory thereof as permitted under applicable law and the relevant charter documents of such Foreign Credit Party), in substantially the form of Exhibit C of the Existing Credit Agreement with the appropriate insertions, together with copies of the certificate or articles of incorporation, certificate of formation, operating agreements and by-laws (or equivalent organizational documents) of such Credit Party (the "Organizational Documents") and the resolutions of such Credit Party referred to in such certificate and each of the foregoing shall be in form and substance reasonably satisfactory to the Administrative Agent; provided that, in lieu of delivering the Organizational Documents required above, the Borrowers may deliver a certificate of an authorized signatory thereof certifying that the Organizational Documents that were previously delivered to the Administrative Agent in connection with the 2012 Amendment and Restatement Agreement (A) are the true and correct copies of such Organizational Documents, (B) there have been no amendments to such Organizational Documents since such delivery and (C) are in full force and effect on the Amendment Effective Date and (ii) all Company and legal proceedings and all instruments and agreements in connection with the Refinancing Transactions shall be reasonably satisfactory in form and substance to the Administrative Agent, and the Administrative Agent shall have received all information and copies of all certificates, documents and papers, including good standing certificates, bring-down certificates and any other 

  

1 To be updated, as necessary.

9

records of Company proceedings and governmental approvals, if any, that the Administrative Agent reasonably may have requested in connection therewith, such documents and papers, where appropriate, to be certified by proper Company or governmental authorities;

(f)  the requirements set forth in Sections 3.09, 3.10, 3.11, 3.12 and 3.13 of the Amended Credit Agreement shall have been satisfied (with all references in such Sections to the "2012 Restatement Effective Date" being deemed to be references to the "Amendment Effective Date") by the prior execution and delivery of the relevant Security Document or supplement thereof, except to the extent that such execution and delivery is not required to have been effected on or prior to the Amendment Effective Date pursuant to the applicable provisions of Section 6.11 of the Amended Credit Agreement;

(g)  the Administrative Agent shall have received from the Borrowers, with respect to each Mortgaged Property, (i) such duly executed amendment and other modification to the Mortgage thereon as shall have been reasonably requested by the Administrative Agent, (ii) a date-down or similar endorsement to its Mortgage Policy insuring that the Mortgage remains a first priority lien on the Mortgaged Property, subject only to Permitted Liens and (iii) a favorable opinion of local counsel to the Credit Party in the state in which such Mortgaged Property is located, in form and substance reasonably satisfactory to the Administrative Agent, confirming that the Mortgage on the Mortgaged Property, as amended, located in such state continues to secure the Obligations;

(h)  the repayment of all Existing Revolving Loans and the prepayment of all Existing B/As outstanding under the Existing Credit Agreement and the payment of accrued and unpaid interest, fees, breakage costs and other amounts owing to the Existing Revolving Lenders, as contemplated by Section 2(e) hereof;

(i)  if any Revolving Loans are to be made or any B/As are to be purchased on the Amendment Effective Date under the Amended Credit Agreement, the Administrative Agent shall have received a request therefor complying with the requirements of Section 2.03 or 2.07(c) of the Amended Credit Agreement;

(j)  in accordance with Section 2.09(c) of the Existing Credit Agreement, the Administrative Agent shall have received, not later than 12:00 noon (New York City time) at least two Business Days prior to the Amendment Effective Date, written notice from the Borrowers of their intent to terminate in full the Revolving Credit Commitments under the Existing Credit Agreement and otherwise effect the Refinancing Transactions on the Amendment Effective Date;

(k)  the Administrative Agent shall have received all documentation and other information required by bank regulatory authorities under the applicable "know your customer" and anti-money laundering rules and regulations, including, without limitation, the Patriot Act and requested at least five Business Days prior to the Amendment Effective Date by the Administrative Agent or any New Revolving Lender;

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(l)  the Administrative Agent shall have received payment from the US Borrower, in immediately available funds, for the accounts of the New Revolving Lenders, of the Upfront Fees referred to in Section 7 hereof; and

(m)  the Administrative Agent and its affiliates shall have received payment or reimbursement from the Borrowers, in immediately available funds, of all costs, fees, out‐of‐pocket expenses, compensation and other amounts then due and payable in connection with this Amendment or pursuant to the Amended Credit Agreement, including, to the extent invoiced, reasonable fees, disbursements and other charges of counsel to the Administrative Agent.

The Administrative Agent shall notify the Borrowers and the Lenders of the Amendment Effective Date, and such notice shall be conclusive and binding.  Notwithstanding the foregoing, the amendment of the Existing Credit Agreement and the CGA pursuant to this Amendment and the obligations of the New Revolving Lenders to extend the New Revolving Loan Commitments shall not become effective unless each of the foregoing conditions is satisfied at or prior to 5:00 p.m., New York City time, December 20, 2013 (and, in the event such conditions are not so satisfied or waived, the New Revolving Loan Commitments shall terminate at such time).

Notwithstanding the foregoing, if after the use by the Credit Parties of commercially reasonable efforts to cause the conditions relating to the collateral and guarantee matters set forth in clauses (d)(ix) and (e) hereof to be satisfied as of the Amendment Effective Date such conditions are not satisfied as of the Amendment Effective Date, such conditions shall not be conditions precedent to the effectiveness of this Amendment on the Amendment Effective Date, but shall be accomplished as promptly as practical after the Amendment Effective Date and in any event no later than 45 days following the Amendment Effective Date or such later date as the Administrative Agent may agree to in its reasonable discretion.

SECTION 7.  Fees.  Each Borrower agrees to pay to the Administrative Agent, for the account of each New Revolving Lender that delivers to the Administrative Agent (or its counsel) an executed counterpart hereof (or a facsimile transmission of a signed signature page of this Amendment) on or prior to 5:00 p.m., New York City time, on December [20], 2013, an upfront fee (collectively, the "Upfront Fees") in an amount equal to 0.15% of the aggregate New Revolving Loan Commitments of each such Lender under the New Revolving Facility.  The Upfront Fees shall be payable on, and subject to the occurrence of, the Amendment Effective Date.

SECTION 8.  Effect of Amendment; Certain Authorizations.  Except as expressly set forth herein, this Amendment shall not by implication or otherwise limit, impair, constitute a waiver of, or otherwise affect the rights and remedies of the Lenders, the Administrative Agent, or the Lenders under the Existing Credit Agreement, the CGA or any other Credit Document, and shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Existing Credit Agreement, the CGA or any other Credit Document, all of which, as 

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amended, supplemented or otherwise modified hereby, are ratified and affirmed in all respects and shall continue in full force and effect.  Nothing herein shall be deemed to entitle any Credit Party to a consent to, or a waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or agreements contained in the Amended Credit Agreement, the CGA as amended hereby or any other Credit Document in similar or different circumstances.  This Amendment shall constitute a Credit Document for all purposes of the Amended Credit Agreement and the other Credit Documents.  On and after the Amendment Effective Date, (a) any reference to the Existing Credit Agreement in any Credit Document shall be deemed to refer to the Amended Credit Agreement and (b) any reference to the CGA in any Credit Document shall be deemed to refer to the CGA as amended hereby. The Lenders party hereto hereby authorize the Administrative Agent to enter into such amendment or amendments to the Amended Credit Agreement or any other Credit Document as shall be appropriate, in the judgment of the Administrative Agent, to cure any ambiguity, omission, defect or inconsistency relating to the effectuation of the Refinancing Transactions.

SECTION 9.  Expenses. The Borrowers agree to reimburse the Administrative Agent for its reasonable out-of-pocket expenses in connection with this Amendment, including the reasonable fees, charges and disbursements of Cravath, Swaine & Moore LLP.

SECTION 10.  Counterparts.  This Amendment 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.  Delivery of an executed counterpart of a signature page of this Amendment by facsimile or other electronic transmission shall be effective as delivery of a manually executed counterpart of this Amendment.

SECTION 11.  Incorporation by Reference.  Notwithstanding anything to the contrary contained herein, the provisions of Sections 1.03, 10.1, 10.07 and 10.15 of the Amended Credit Agreement are incorporated by reference herein, mutatis mutandis.

SECTION 12.  Headings. Section headings used herein are for convenience of reference only, are not part of this Amendment and shall not affect the construction of, or be taken into consideration in interpreting, this Amendment.

[Remainder of page intentionally left blank]

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their authorized officers as of the date first above written.

 

	
 

	
COMPASS MINERALS  INTERNATIONAL, 

INC.,as US Borrower,

	
 

	
 

	
 

	
by

	
 

	
 

	
/s/ James D. Standen

	
 

	
 

	
Name: James D. Standen

	
 

	
 

	
Title: Treasurer

 

[Signature Page to Amendment Agreement]

	
 

	
SIFTO CANADA CORP., as Canadian 

Borrower,

	
 

	
 

	
 

	
by

	
 

	
 

	
/s/ James D. Standen

	
 

	
 

	
Name: James D. Standen

	
 

	
 

	
Title: Treasurer

 

[Signature Page to Amendment Agreement]

	
 

	
SALT UNION LIMITED, as UK Borrower,

	 	
	
 

	
by

	
 

	
 

	
/s/ I.P. Gordon

	
 

	
 

	
Name: I.P. Gordon

	
 

	
 

	
Title: Director and Secretary

 

[Signature Page to Amendment Agreement]

	
 

	
CAREY SALT COMPANY,

	 	
	
 

	
by

	
 

	
 

	
/s/ James D. Standen

	
 

	
 

	
Name: James D. Standen

	
 

	
 

	
Title: Treasurer

 

[Signature Page to Amendment Agreement]

		
SOLAR RESOURCES, INC.,

	 	
		
by

			
/s/ James D. Standen

			
Name: James D. Standen

			
Title: Treasurer

[Signature Page to Amendment Agreement]

		
DOVE CREEK GRAZING, LLC,

	 	
		
by

			/s/ Keith Espelien
			
Name: Keith Espelien

			
Title: Manager

[Signature Page to Amendment Agreement]

		
CLYMAN BAY RESOURCES, INC.,

	 	
		
by

			
/s/ James D. Standen

			
Name: James D. Standen

			
Title: Treasurer

 

[Signature Page to Amendment Agreement]

	
 

	
GREAT SALT LAKE HOLDINGS, LLC,

	 	
	
 

	
by

	
 

	
 

	
/s/ James D. Standen

	
 

	
 

	
Name: James D. Standen

	
 

	
 

	
Title: Treasurer

 

[Signature Page to Amendment Agreement]

	
 

	
GREAT SALT LAKE MINERALS 

CORPORATION,

	 	
	
 

	
by

	
 

	
 

	
/s/ James D. Standen

	
 

	
 

	
Name: James D. Standen

	
 

	
 

	
Title: Treasurer

 

[Signature Page to Amendment Agreement]

	
 

	
GSL CORPORATION,

	 	
	
 

	
by

	
 

	
 

	
/s/ James D. Standen

	
 

	
 

	
Name: James D. Standen

	
 

	
 

	
Title: Treasurer

 

[Signature Page to Amendment Agreement]

	
 

	
NAMSCO INC.,

	 	
	
 

	
by

	
 

	
 

	
/s/ James D. Standen

	
 

	
 

	
Name: James D. Standen

	
 

	
 

	
Title: Treasurer

 

[Signature Page to Amendment Agreement]

	
 

	
NORTH AMERICAN SALT COMPANY,

	 	
	
 

	
by

	
 

	
 

	
/s/ James D. Standen

	
 

	
 

	
Name: James D. Standen

	
 

	
 

	
Title: Treasurer

 

[Signature Page to Amendment Agreement]

	
 

	
PRISTIVA INC.,

	 	
	
 

	
by

	
 

	
 

	
/s/ James D. Standen

	
 

	
 

	
Name: James D. Standen

	
 

	
 

	
Title: Treasurer

 

[Signature Page to Amendment Agreement]

	
 

	
NASC NOVA SCOTIA COMPANY,

	 	
	
 

	
by

	
 

	
 

	
/s/ Cecile Petro

	
 

	
 

	
Name: Cecile Petro

	
 

	
 

	
Title: President

 

[Signature Page to Amendment Agreement]

	
 

	
CMI CANADA HOLDINGS COMPANY.

	 	
	
 

	
by

	
 

	
 

	
/s/ James D. Standen

	
 

	
 

	
Name: James D. Standen

	
 

	
 

	
Title: Treasurer

 

[Signature Page to Amendment Agreement]

	
 

	
GSL HOLDINGS EUROPE S.á r.l.,

	 	
	
 

	
by

	
 

	
 

	
/s/ Rodney L. Underdown

	
 

	
 

	
Name: Rodney L. Underdown

	
 

	
 

	
Title: B Manager

 

[Signature Page to Amendment Agreement]

	
 

	
JPMORGAN CHASE BANK, N.A., 

individually as a Lender and the Administrative 

Agent,

	 	
	
 

	
by

	
 

	
 

	
/s/ Gitanjali Pundir

	
 

	
 

	
Name: Gitanjali Pundir

	
 

	
 

	
Title: Vice President

 

[Signature Page to Amendment Agreement]

SIGNATURE PAGE TO

THE COMPASS MINERALS INTERNATIONAL, INC.

AMENDMENT

 

 

	
 

	Compass Bank, as Term Lender,
	 	
	
 

	
By

	
 

	
 

	
/s/ Brandon Kelley

	
 

	
 

	
Name: Brandon Kelley

	
 

	
 

	
Title: Senior Vice President

SIGNATURE PAGE TO

THE COMPASS MINERALS INTERNATIONAL, INC.

AMENDMENT

 

 

	
 

	Lender: First Hawaiian Bank, as Term Lender,
	 	
	
 

	
By

	
 

	
 

	
/s/ Susan Takeda

	
 

	
 

	
Name: Susan Takeda

	
 

	
 

	
Title: Vice President

 

	
 

	For any Lender requiring a secong signature line:
	 	
	
 

	
By

	
 

	
 

	 
	
 

	
 

	
Name: 

	
 

	
 

	
Title: 

SIGNATURE PAGE TO

THE COMPASS MINERALS INTERNATIONAL, INC.

AMENDMENT

 

 

	
 

	
Goldman Sachs Lending Partners LLC

as New Revolving Lender,

	 	
	
 

	
By

	
 

	
 

	
/s/ Mark Walton

	
 

	
 

	
Name: Mark Walton

	
 

	
 

	
Title: Authorized Signatory

 

	
 

	For any Lender requiring a secong signature line:
	 	
	
 

	
By

	
 

	
 

	  
	
 

	
 

	
Name: 

	
 

	
 

	
Title: 

SIGNATURE PAGE TO

THE COMPASS MINERALS INTERNATIONAL, INC.

AMENDMENT

 

 

	
 

	
THE HUNTINGTON NATIONAL BANK,

as Term Lender,

	 	
	
 

	
By

	
 

	
 

	
/s/ Lori Cummins-Meyer

	
 

	
 

	
Name: Lori Cummins-Meyer

	
 

	
 

	
Title: Vice President

SIGNATURE PAGE TO

THE COMPASS MINERALS INTERNATIONAL, INC.

AMENDMENT

 

 

	
 

	
Name of New Revolving Lender:

Lloyds Bank plc, as New Revolving Lender,

	 	
	
 

	
By

	
 

	
 

	
/s/ Stephen Giacolone

	
 

	
 

	
Name: Stephen Giacolone

	
 

	
 

	
Title: Assistant Vice President G011

 

	
 

	For any Lender requiring a secong signature line:
	 	
	
 

	
By

	
 

	
 

	/s/ Dennis McClellan
	
 

	
 

	
Name: Dennis McClellan

	
 

	
 

	
Title: Assistant Vice President M040

SIGNATURE PAGE TO

THE COMPASS MINERALS INTERNATIONAL, INC.

AMENDMENT

 

 

	
 

	Mizuho Bank, Ltd. as Term Lender,
	 	
	
 

	
By

	
 

	
 

	
/s/ Tenya Mitsuboshi

	
 

	
 

	
Name: Tenya Mitsuboshi

	
 

	
 

	
Title: Authorized Signatory

SIGNATURE PAGE TO

THE COMPASS MINERALS INTERNATIONAL, INC.

AMENDMENT

	
 

	
Name of New Revolving/ Term Lender:

PNC Bank, National Association,

as New Revolving and Term Lender.

	 	
	
 

	
By

	
 

	
 

	
/s/ David Bentzinger

	
 

	
 

	
Name: David Bentzinger

	
 

	
 

	
Title: Senior Vice President

SIGNATURE PAGE TO

THE COMPASS MINERALS INTERNATIONAL, INC.

AMENDMENT

 

	
 

	

Cooperatieve Centrale Raiffeisen Boerenleenbank B.A.,

"Rabobank Nederland",  New York Branch, as New Revolving and Term Lender,

	 	
	
 

	
By

	
 

	
 

	
/s/ ROBERT M. MANDULA

	
 

	
 

	
Name: ROBERT M. MANDULA

	
 

	
 

	
Title: Managing Director

 

	
 

	
By

	
 

	
 

	/s/ BERT CORUM
	
 

	
 

	
Name: BERT CORUM

	
 

	
 

	
Title: Executive Director

SIGNATURE PAGE TO

THE COMPASS MINERALS INTERNATIONAL, INC.

AMENDMENT

 

	
 

	
Name of Term Lender:

	 	
Sumitomo Mitsui Banking Corporation,

	 	
as Term Lender,

	 	
	
 

	
By

	
 

	
 

	
/s/ James D. Weinstein

	
 

	
 

	
Name: James D. Weinstein

	
 

	
 

	
Title: Managing Director

SIGNATURE PAGE TO

THE COMPASS MINERALS INTERNATIONAL, INC.

AMENDMENT

	 	
Lender: Union Bank, N.A.

	 	
as New Revolving and Term Lender,

	 	
	
 

	
By

	
 

	
 

	
/s/ Thomas Lass

	
 

	
 

	
Name: Thomas Lass

	
 

	
 

	
Title: Vice President

SIGNATURE PAGE TO

THE COMPASS MINERALS INTERNATIONAL, INC.

AMENDMENT

	 	
BMO Harris Bank N.A., as Term Lender,

	 	
	
 

	
By

	
 

	
 

	
/s/ Philip Langheim

	
 

	
 

	
Name: Philip Langheim

	
 

	
 

	
Title: Managing Director

SIGNATURE PAGE TO

THE COMPASS MINERALS INTERNATIONAL, INC.

AMENDMENT

	 	
Name of New Revolving/ Term

	 	
Lender: U.S. BANK NATIONAL ASSOCIATION, as New

	 	
Revolving and Term Lender,

	 	
	
 

	
By

	
 

	
 

	
/s/ Magnus McDowell

	
 

	
 

	
Name: Magnus McDowell

	
 

	
 

	
Title: Vice President

SIGNATURE PAGE TO

THE COMPASS MINERALS INTERNATIONAL, INC.

AMENDMENT

 

	 	
Name of Lender: Wells Fargo Bank, NA,

	 	
as New Revolving and Term Lender,

	 	
	
 

	
By

	
 

	
 

	
/s/ Jeff Farrell

	
 

	
 

	
Name: Jeff Farrell

	
 

	
 

	
Title: Sr. Vice President

SIGNATURE PAGE TO

THE COMPASS MINERALS INTERNATIONAL, INC.

AMENDMENT

 

	
 

	

THE BANK OF NOVA SCOTIA,

as New Revolving and Term Lender,

	 	
	
 

	
By

	
 

	
 

	
/s/ Laura Gimena

	
 

	
 

	
Name: Laura Gimena

	
 

	
 

	
Title: Director

 

	
 

	
By

	
 

	
 

	/s/ Juan Pablo Jimenez
	
 

	
 

	
Name: Juan Pablo Jimenez

	
 

	
 

	
Title: Associate Director

SIGNATURE PAGE TO

THE COMPASS MINERALS INTERNATIONAL, INC.

AMENDMENT

 

	
 

	

Name of Term Lender: Bank of the West,

as Term Lender,

	 	
	
 

	
By

	
 

	
 

	
/s/ Brad Conley

	
 

	
 

	
Name: Brad Conley

	
 

	
 

	
Title: Vice President

 

	 	
	
 

	
By

	
 

	
 

	 
	
 

	
 

	
Name: 

	
 

	
 

	
Title: 

SIGNATURE PAGE TO

THE COMPASS MINERALS INTERNATIONAL, INC.

AMENDMENT

 

	
 

	

Name of Term Lender: 

BOKF, N.A., d/b/a Bank of Kansas City as Term Lender,

	 	
	
 

	
By

	
 

	
 

	
/s/ Ryan W. Humphrey

	
 

	
 

	
Name: Ryan W. Humphrey

	
 

	
 

	
Title: Assistant Vice President

 

	 	
For any Lender requiring a second signature line:

	 	
	
 

	
By

	
 

	
 

	 
	
 

	
 

	
Name: 

	
 

	
 

	
Title: 

SIGNATURE PAGE TO

THE COMPASS MINERALS INTERNATIONAL, INC.

AMENDMENT

 

	
 

	

Name of Term Lender: 

Branch Banking and Trust Corporation,

as Term Lender,

	 	
	
 

	
By

	
 

	
 

	
/s/ Max Greer

	
 

	
 

	
Name: Max Greer

	
 

	
 

	
Title: Vice President

 

	 	
For any Lender requiring a second signature line:

	 	
	
 

	
By

	
 

	
 

	 
	
 

	
 

	
Name: 

	
 

	
 

	
Title: 

SIGNATURE PAGE TO

THE COMPASS MINERALS INTERNATIONAL, INC.

AMENDMENT

 

	
 

	
Name of New Revolving/ Term

	 	
Lender: Bank of America

	 	
as New Revolving and Term Lender,

	 	
	
 

	
By

	
 

	
 

	
/s/ Michael Bruening

	
 

	
 

	
Name: Michael Bruening

	
 

	
 

	
Title: Assistant Vice President

 

	 	
For any Lender requiring a second signature line:

	 	
	
 

	
By

	
 

	
 

	 
	
 

	
 

	
Name: 

	
 

	
 

	
Title: 

SCHEDULE I

 

LIST OF LENDERS AND COMMITMENTS

 

Revolving Commitments as of the 2013 Amendment Effective Date

 

	
 

	 	
Revolving Credit Facilities

	 
	
Revolving Lenders

	 	
US Revolving Loan Commitments

	 	 	
Global Revolving Loan Commitments

	 
	
JPMORGAN CHASE BANK, N.A.

	 	
$

	
1,000,000.00

	 	 	
$

	
14,000,000.00

	 
	
US BANK NATIONAL ASSOCIATION

	 	
$

	
14,000,000.00

	 	 	
$

	
0.00

	 
	
GOLDMAN SACHS LENDING PARTNERS LLC

	 	
$

	
0.00

	 	 	
$

	
14,000,000.00

	 
	
BANK OF AMERICA, N.A.

	 	
$

	
3,000,000.00

	 	 	
$

	
11,000,000.00

	 
	
BANK OF NOVA SCOTIA

	 	
$

	
3,000,000.00

	 	 	
$

	
11,000,000.00

	 
	
WELLS FARGO BANK, NATIONAL ASSOCIATION

	 	
$

	
13,000,000.00

	 	 	
$

	
0.00

	 
	
LLOYDS BANK PLC

	 	
$

	
12,000,000.00

	 	 	
$

	
0.00

	 
	
PNC BANK NATIONAL ASSOCIATION

	 	
$

	
10,000,000.00

	 	 	
$

	
0.00

	 
	
RABOBANK NEDERLAND

	 	
$

	
10,000,000.00

	 	 	
$

	
0.00

	 
	
UNION BANK, N.A.

	 	
$

	
9,000,000.00

	 	 	
$

	
0.00

	 
	
TOTAL

	 	
$

	
75,000,000.00

	 	 	
$

	
50,000,000

	 

Term Loan Commitments as of the 2013 Amendment Effective Date

 

	
Tranche D Term Lenders

	 	
Tranche D Term

Commitment

	 
	
BANK OF AMERICA, N.A.

	 	
$

	
19,700,000.00

	 
	
UNION BANK, N.A.

	 	
$

	
18,715,000.00

	 
	
WELLS FARGO BANK, NA

	 	
$

	
18,715,000.00

	 
	
THE BANK OF NOVA SCOTIA

	 	
$

	
18,715,000.00

	 
	
PNC BANK, NATIONAL ASSOCIATION

	 	
$

	
18,715,000.00

	 
	
U.S. BANK NATIONAL ASSOCIATION

	 	
$

	
17,730,000.00

	 
	
FIRSTMERIT BANK, N.A.

	 	
$

	
17,730,000.00

	 
	
FIFTH THIRD BANK

	 	
$

	
16,745,000.00

	 
	
COMPASS BANK

	 	
$

	
16,745,000.00

	 
	
BRANCH BANKING AND TRUST COMPANY

	 	
$

	
16,745,000.00

	 
	
BOKF, NA D/B/A BANK OF KANSAS CITY

	 	
$

	
14,837,341.77

	 
	
BMO HARRIS BANK, N.A.

	 	
$

	
12,805,000.00

	 
	
SUMITOMO MITSUI BANKING CORPORATION

	 	
$

	
12,805,000.00

	 
	
THE HUNTINGTON NATIONAL BANK

	 	
$

	
12,805,000.00

	 
	
MIZUHO CORPORATE BANK, LTD.

	 	
$

	
12,805,000.00

	 
	
UMB BANK, N.A.

	 	
$

	
12,805,000.00

	 
	
MEGA INTERNATIONAL COMMERCIAL BANK CO., LTD. NEW YORK BRANCH

	 	
$

	
12,805,000.00

	 
	
BANK OF THE WEST

	 	
$

	
12,374,841.77

	 
	
MERCANTIL COMMERCEBANK, N.A.

	 	
$

	
11,695,316.46

	 
	
COÖPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A., “RABOBANK NEDERLAND”, NEW YORK BRANCH

	 	
$

	
9,850,000.00

	 
	
HUA NAN COMMERCIAL BANK

	 	
$

	
9,850,000.00

	 
	
E. SUN COMMERCIAL BANK LTD., LOS ANGELES BRANCH

	 	
$

	
9,850,000.00

	 
	
CHANG HWA COMMERCIAL BANK LOS ANGELES BRANCH

	 	
$

	
9,850,000.00

	 
	
SABADELL UNITED BANK, N.A.

	 	
$

	
9,850,000.00

	 
	
ARMED FORCES BANK, N.A.

	 	
$

	
9,850,000.00

	 
	
BANK OF TAIWAN

	 	
$

	
9,850,000.00

	 
	
SUMITOMO MITSUI TRUST BANK, LIMITED

	 	
$

	
6,912,280.70

	 
	
FIRST HAWAIIAN BANK

	 	
$

	
5,417,500.00

	 
	
JPMORGAN CHASE BANK, N.A.

	 	
$

	
3,922,719.30

	 
	
TOTAL

	 	
$

	
381,195,000.00SUPPLEMENTAL AGREEMENT

 

This Supplemental Agreement
(this “Agreement”) is made as of this 18th day of December, 2013, by and among CIG Wireless Corp.,
a Nevada corporation (the “Company”) and the investors set forth on Schedule I hereto (each an “Investor”
and collectively, the “Investors”). Capitalized terms used but not defined herein have the meaning ascribed
to them in the Purchase Agreement (defined below).

 

WITNESSETH

 

WHEREAS, the
Company and the Investors are party to that certain Securities Purchase Agreement, made as of the 1st day of August,
2013, by and among the Company and the Investors set forth on Schedule I thereto (the “Purchase Agreement”);

 

WHEREAS, pursuant
to Section 2.4 of the Purchase Agreement, the Company may deliver a Conditional Put Notice to the Investors requesting that the
Investors purchase up to $25,000,000 additional shares of Series A-1 Preferred Stock, provided, that, the purchase
price is in whole increments of $1,000,000 and the proceeds from the sale and issuance of such shares shall only be used to fund
the consideration and related transaction expenses reasonably incurred by the Company for an Approved Acquisition;

 

WHEREAS, the
Company has delivered to the Investors a Conditional Put Notice requesting that the Investors purchase an additional 60,000 shares
of Series A-1 Preferred Stock (the “Additional Series A-1 Shares”) for an aggregate purchase price of Six Million
Dollars ($6,000,000) (the “Draw Amount”), the proceeds of which shall be used solely to fund the purchase of
fourteen (14) towers from Southern Tower Antenna Rental, LLC (the “Star II Purchase”) and related transaction
expenses reasonably incurred by the Company for the Star II Purchase;

 

WHEREAS, the
Investors have accepted the Conditional Put Notice and the Company has agreed to waive the receipt of the Investor Response Notice
and sell and issue the Additional Series A-1 Shares to the Investors pursuant to the terms and subject to the conditions set forth
herein and in the Purchase Agreement;

 

WHEREAS, pursuant
to Section 2.4 of the Purchase Agreement, in connection with the purchase of the Additional Series A-1 Shares, the Company shall
issue to the Investors 5,139,192 shares of Series A-2 Preferred Stock (the “Additional Series A-2 Shares” and,
together with the Additional Series A-1 Shares, the “Additional Shares”); and

 

WHEREAS, the
Additional Closing shall take place pursuant to the terms of the Purchase Agreement upon the satisfaction of all of the condition
set forth in Section 5.3 and Section 5.4 of the Purchase Agreement.

 

NOW, THEREFORE,
in consideration of the mutual promises made herein and for good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, the parties agree as follows:

 

    	1

    	 

    

 

1. Purchase
and Sale of Securities. Subject to the terms and conditions of this Agreement and the Purchase Agreement, at the Additional
Closing, the Company shall issue and sell, and each Investor listed on Schedule I hereto, shall severally, and not jointly,
purchase, the number and type of shares of Preferred Stock, in the respective amounts set forth opposite their names on Schedule
I hereto, in exchange for the cash consideration set forth as the “Additional Purchase Price” opposite their respective
names on Schedule I hereto, in immediately available funds, by wire transfer to an account designated by the Company for
such purpose. At the Additional Closing, the Purchase Price shall be delivered by the Investors net of the Facility Fees and Investor
Fees (in such allocation among them as they may determine in their sole discretion).

 

2. Time and Place
of Additional Closing. Subject to the terms and conditions contained in this Agreement and the Purchase Agreement, the Additional
Closing with respect to the Additional Shares shall take place at the offices of Investor Counsel, 1251 Avenue of the Americas,
17th Floor, New York, New York 10020, at 10:00 am (New York Time), on the date hereof (the “Additional Closing
Date”), provided that all of the conditions set forth in Section 5.3 and Section 5.4 of the Purchase Agreement have been
satisfied or waived in accordance with the terms thereof, or at such other location on such other date as the Company and the Investors
shall mutually agree.

 

3.Use of Proceeds.
The Company will use the proceeds from the sale of the Additional Shares at the Additional Closing solely to fund the Star II Purchase
and nothing herein shall be deemed a waiver or approval of, or consent to, any expenditure by the Company or any Subsidiary which
would otherwise require approval of the Requisite Investors (as defined in the Series A Certificate of Designation) pursuant to
the Series A Certificate of Designation.

 

4.Closing Deliverables.
At or prior to the Additional Closing, the Company shall execute and/or deliver to the Investors the following documents:

 

(a)A Certificate
duly executed on behalf of the Company by its Chief Executive Officer or its Chief Financial Officer, dated as of the Additional
Closing Date, certifying as to the matters set forth in Section 5.3(d) of the Purchase Agreement;

 

(b)A Certificate
duly executed on behalf of the Company by its Chief Executive Officer, dated as of the Additional Closing Date, certifying as to
the matters set forth in Section 5.3(e) of the Purchase Agreement; and

 

(c)The WG Opinion
and the Nevada Opinion, each dated as of the Additional Closing Date, in a form acceptable to the Requisite Investors.

 

(d) Each of the transaction
documents entered into in connection with the Star II Purchase, in form and substance acceptable to the Requisite Investors (the
“Star II Transaction Documents”).

 

(e)Macquarie Bank
Limited shall have approved the Advance (as defined in the Credit Agreement) with respect to the Start II Purchase pursuant to
the Credit Agreement.

 

    	2

    	 

    

 

5.Delivery of Stock Certificates.
No later than two (2) Business Day following the Additional Closing Date, the Company shall deliver to the Investors stock certificates
of Company evidencing the Additional Shares registered in the names of the Investors.

 

6.Waiver.
The Investors hereby irrevocably waive the requirement to deliver the Updated Schedules in a form acceptable to the Requisite Investors
in accordance with Section 6.8 of the Purchase Agreement as a condition to the Additional Closing, and agree that this Section
6 shall constitute written notice of the foregoing waiver as required pursuant to the Series A Certificate of Designation and
the Purchase Agreement. This waiver shall not be construed as being a waiver of any other rights or remedies of the Investors under
the Series A Certificate of Designation or the Purchase Agreement and shall only be in effect with respect to the transactions
contemplated by this Agreement; and shall not be a future waiver or establish custom and practice or course of dealing.

 

7.Certification. The Company
hereby certifies to the Investors as of the date hereof that: (i) no event or events have occurred from and after the Initial Closing
Date that, individually or in the aggregate, is reasonably likely to result in a Material Adverse Effect; (ii) the Star II Purchase
is an Approved Acquisition; (iii) no Event of Default has occurred and is continuing since the Initial Closing Date and (iv) no
Default or Event of Default has occurred and is continuing under the Credit Agreement.

 

8.MBL
Facility. Notwithstanding anything in this Agreement or in any other Transaction Document to the contrary, until the earlier
of (x) the date on which clause (d) of the definition of Change of Control in the Credit Agreement (as such clause (d) is in effect
on the date hereof, a “Specified COC”) is no longer in effect, and (y) repayment in full of all Obligations
(as defined in the Credit Agreement, as in effect on the date hereof) under the Credit Agreement (such earlier date, the “Expiry
Date”), the Investors shall not have the power to, and shall not, vote any of the Series A-2 Preferred Stock in any manner
that, directly or indirectly, (i) prevents any amount of unilateral cash or equity contributions to CIG Comp Tower, LLC or CIG
Properties, LLC by an owner of Equity Interests (as defined in the Credit Agreement, as in effect on the date hereof) in CIG Comp
Tower, LLC or CIG Properties, LLC, as applicable, or (ii) results in a Specified COC. This Section 8 shall not be amended
or modified before the Expiry Date. The Company and the Investors shall take such further action, including without limitation,
amending the Series A Certificate of Designation, as may be necessary, advisable or convenient to further the intent of this Section
8.

 

9.Miscellaneous.

 

9.1Successors
and Assigns. This Agreement may not be assigned by a party hereto without the prior written consent of the Company and the
Investors. The provisions of this Agreement shall inure to the benefit of and be binding upon the respective permitted successors
and assigns of the parties. Except for provisions of this Agreement expressly to the contrary, nothing in this Agreement, express
or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights,
remedies, obligations, or liabilities under or by reason of this Agreement.

 

    	3

    	 

    

 

9.2Counterparts;
Faxes. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument. This Agreement may also be delivered via facsimile, which shall be deemed
an original.

 

9.3Titles
and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in
construing or interpreting this Agreement.

 

9.4Amendments
and Waivers. This Agreement shall not be amended and the observance of any term of this Agreement shall not be waived (either
generally or in a particular instance and either retroactively or prospectively) without the prior written consent of the Company
and the Requisite Investors.

 

9.5Publicity.
No public release or announcement concerning the transactions contemplated hereby shall be issued by the Company or the Investors
without the prior consent of the Company (in the case of a release or announcement by the Investors) or the Investors (in the case
of a release or announcement by the Company) (which consents shall not be unreasonably withheld), except as such release or announcement
may be required by law or the applicable rules or regulations of any securities exchange or securities market on which the Securities
are then listed and trading, in which case the Company or the Investors, as the case may be, shall allow the Investors or the Company,
as applicable, to the extent reasonably practicable in the circumstances, reasonable time to comment on such release or announcement
in advance of such issuance.

 

9.6Entire
Agreement. This Agreement together with the Purchase Agreement (including the Exhibits and Disclosure Schedules), and the other
Transaction Documents constitute the entire agreement among the parties hereof with respect to the subject matter hereof and thereof
and supersede all prior agreements and understandings, both oral and written, between the parties with respect to the subject matter
hereof and thereof. The parties acknowledge and agree that this Agreement shall constitute a Transaction Document for all purposes
of the Purchase Agreement.

 

9.7Further
Assurances. The parties shall execute and deliver all such further instruments and documents and take all such other actions
as may reasonably be required to carry out the transactions contemplated hereby and to evidence the fulfillment of the agreements
herein contained.

 

9.8Governing
Law; Consent to Jurisdiction. This Agreement shall be governed by, and construed in accordance with, the internal laws of the
State of New York without regard to the choice of law principles thereof. Each of the parties hereto irrevocably submits to the
exclusive jurisdiction of the courts of the State of New York located in New York County and the United States District Court for
the Southern District of New York for the purpose of any suit, action, proceeding or judgment relating to or arising out of this
Agreement and the transactions contemplated hereby. Service of process in connection with any such suit, action or proceeding may
be served on each party hereto anywhere in the world by the same methods as are specified for the giving of notices under this
Agreement. Each of the parties hereto irrevocably consents to the jurisdiction of any such court in any such suit, action or proceeding
and to the laying of venue in such court. Each party hereto irrevocably waives any objection to the laying of venue of any such
suit, action or proceeding brought in such courts and irrevocably waives any claim that any such suit, action or proceeding brought
in any such court has been brought in an inconvenient forum. THE COMPANY AND EACH OF THE INVESTORS HEREBY IRREVOCABLY WAIVES
ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING RELATING TO OR ARISING OUT OF THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED
HEREBY.

 

[SIGNATURE PAGES FOLLOW]

 

    	4

    	 

    

 

 

IN WITNESS WHEREOF,
the undersigned has executed this Supplemental Agreement or caused a duly authorized person to execute this Supplemental Agreement
as of the date first written above.

 

	 	COMPANY:
	 	 	 
	 	CIG WIRELESS CORP.
	 	 	 
	 	By: 	/s/ Paul McGinn
	 	Name:	Paul McGinn
	 	Title:	Chief Executive Officer
	 	 	 
	 	INVESTOR:
	 	 	 
	 	FIR TREE CAPITAL OPPORTUNITY (LN) MASTER FUND, LP
	 	 	 
	 	By:	/s/ Brian Meyer
	 	Name:	Brian Meyer
	 	Title:	Authorized Person
	 	 	 
	 	FIR TREE REF III TOWER LLC
	 	 	 
	 	By: 	/s/ Brian Meyer
	 	Name:	Brian Meyer
	 	Title:	Authorized Person

 

    	 

    	 

    

 

SCHEDULE I

 

 

  

INVESTORS

 

 

  

ADDITIONAL CLOSING

 

 

 

	
        Name

        of Investor
	Additional Closing 

Purchase Price	Number of Shares of Series A-1

 Preferred Stock	
        Number of Shares of Series A-2
        

        Preferred Stock

	
        Fir Tree Capital Opportunity (LN) Master Fund, L.P.

        c/o Fir Tree, Inc.

        505 Fifth Avenue, 23rd Floor

        New York, NY 10017

        (212) 599-0090

        (212) 659-4885 (fax)

        Attention: Brian Meyer

        General Counsel
	$3,000,000	30,000	2,569,596
	
        Fir Tree REF III Tower LLC

        c/o Fir Tree, Inc.

        505 Fifth Avenue, 23rd Floor

        New York, NY 10017

        (212) 599-0090

        (212) 659-4885 (fax)

        Attention: Brian Meyer

        General Counsel
	$3,000,000	30,000	2,569,596
	Total	$6,000,000.00	60,000	5,139,192

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