Document:

Exhibit
10.1

 

FORM
OF SECURITIES PURCHASE AGREEMENT

 

This
SECURITIES PURCHASE AGREEMENT (the “Agreement”), dated as of September 6, 2019, by and between C-BOND SYSTEMS,
INC., a Colorado corporation, with headquarters located at 6035 South Loop East, Houston, TX 77033 (the “Company”),
and [                                      ], a Delaware limited liability company, with its address at [                ] (the “Buyer”).

 

WHEREAS:

 

A. The
Company and the Buyer are executing and delivering this Agreement in reliance upon the exemption from securities registration
afforded by the rules and regulations as promulgated by the United States Securities and Exchange Commission (the “SEC”)
under the Securities Act of 1933, as amended (the “1933 Act”);

 

B. Buyer
desires to purchase and the Company desires to issue and sell, upon the terms and conditions set forth in this Agreement the 12%
convertible note of the Company, in the form attached hereto as Exhibit A, in the aggregate principal amount of US$300,000.00
(together with any note(s) issued in replacement thereof or as a dividend thereon or otherwise with respect thereto in accordance
with the terms thereof, the “Note”), convertible into shares of common stock, $0.001 par value per share, of the Company
(the “Common Stock”), upon the terms and subject to the limitations and conditions set forth in such Note.

 

C. The
Buyer wishes to purchase, upon the terms and conditions stated in this Agreement, such principal amount of Note as is set forth
immediately below its name on the signature pages hereto; and

 

NOW
THEREFORE, the Company and the Buyer severally (and not jointly) hereby agree as follows:

 

1. PURCHASE
AND SALE OF NOTE.

 

a. Purchase
of Note. On the Closing Date (as defined below), the Company shall issue and sell to the Buyer and the Buyer agrees to purchase
from the Company such principal amount of Note as is set forth immediately below the Buyer’s name on the signature pages
hereto. In connection with the issuance of the Note, the Company shall issue a common stock purchase warrant to Buyer to purchase
750,000 shares of the Company’s common stock (the “Warrant”) as a commitment fee upon the terms and subject
to the limitations and conditions set forth in such Warrant.

 

    

     

    

 

b. Form
of Payment. On the Closing Date (as defined below), (i) the Buyer shall pay the purchase price for the Note to be issued and
sold to it at the Closing (as defined below) (the “Purchase Price”) by wire transfer of immediately available funds
to the Company, in accordance with the Company’s written wiring instructions, against delivery of the Note in the principal
amount equal to the Purchase Price as is set forth immediately below the Buyer’s name on the signature pages hereto, and
(ii) the Company shall deliver such duly executed Note and Warrant on behalf of the Company, to the Buyer, against delivery
of such Purchase Price.

 

c. Closing
Date. Subject to the satisfaction (or written waiver) of the conditions thereto set forth in Section 7 and Section 8 below,
the date and time of the issuance and sale of the Note pursuant to this Agreement (the “Closing Date”) shall be 12:00
noon, Eastern Standard Time on or about September 6, 2019, or such other mutually agreed upon time. The closing of the transactions
contemplated by this Agreement (the “Closing”) shall occur on the Closing Date at such location as may be agreed to
by the parties.

 

2. REPRESENTATIONS
AND WARRANTIES OF THE BUYER. The Buyer represents and warrants to the Company that:

 

a. Investment
Purpose. As of the date hereof, the Buyer is purchasing the Note and the shares of Common Stock issuable upon conversion of
or otherwise pursuant to the Note (including, without limitation, such additional shares of Common Stock, if any, as are issuable
(i) on account of interest on the Note (ii) as a result of the events described in Sections 1.3 and 1.4(g) of the Note
or (iii) in payment of the Standard Liquidated Damages Amount (as defined in Section 2(f) below) pursuant to this Agreement,
such shares of Common Stock being collectively referred to herein as the “Conversion Shares” and, collectively with
the Note, the “Securities”) for its own account and not with a present view towards the public sale or distribution
thereof, except pursuant to sales registered or exempted from registration under the 1933 Act; provided, however,
that by making the representations herein, the Buyer does not agree to hold any of the Securities for any minimum or other specific
term and reserves the right to dispose of the Securities at any time in accordance with or pursuant to a registration statement
or an exemption under the 1933 Act.

 

b. Accredited
Investor Status. The Buyer is an “accredited investor” as that term is defined in Rule 501(a) of Regulation D
(an “Accredited Investor”).

 

c. Reliance
on Exemptions. The Buyer understands that the Securities are being offered and sold to it in reliance upon specific exemptions
from the registration requirements of United States federal and state securities laws and that the Company is relying upon the
truth and accuracy of, and the Buyer’s compliance with, the representations, warranties, agreements, acknowledgments and
understandings of the Buyer set forth herein in order to determine the availability of such exemptions and the eligibility of
the Buyer to acquire the Securities.

 

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d. Information.
The Buyer and its advisors, if any, have been, and for so long as the Note remains outstanding will continue to be, furnished
with all materials relating to the business, finances and operations of the Company and materials relating to the offer and sale
of the Securities which have been requested by the Buyer or its advisors. The Buyer and its advisors, if any, have been, and for
so long as the Note remains outstanding will continue to be, afforded the opportunity to ask questions of the Company. Notwithstanding
the foregoing, the Company has not disclosed to the Buyer any material nonpublic information and will not disclose such information
unless such information is disclosed to the public prior to or promptly following such disclosure to the Buyer. Neither such inquiries
nor any other due diligence investigation conducted by Buyer or any of its advisors or representatives shall modify, amend or
affect Buyer’s right to rely on the Company’s representations and warranties contained in Section 3 below. The Buyer
understands that its investment in the Securities involves a significant degree of risk. The Buyer is not aware of any facts that
may constitute a breach of any of the Company's representations and warranties made herein.

 

e. Governmental
Review. The Buyer understands that no United States federal or state agency or any other government or governmental agency
has passed upon or made any recommendation or endorsement of the Securities.

 

f. Transfer
or Re-sale. The Buyer understands that (i) the sale or re-sale of the Securities has not been and is not being registered
under the 1933 Act or any applicable state securities laws, and the Securities may not be transferred unless (a) the Securities
are sold pursuant to an effective registration statement under the 1933 Act, (b) the Buyer shall have delivered to the Company,
an opinion of counsel that shall be in form, substance and scope customary for opinions of counsel in comparable transactions
to the effect that the Securities to be sold or transferred may be sold or transferred pursuant to an exemption from such registration,
which opinion shall be accepted by the Company, (c) the Securities are sold or transferred to an “affiliate”
(as defined in Rule 144 promulgated under the 1933 Act (or a successor rule) (“Rule 144”)) of the Buyer who agrees
to sell or otherwise transfer the Securities only in accordance with this Section 2(f) and who is an Accredited Investor, (d) the
Securities are sold pursuant to Rule 144, or (e) the Securities are sold pursuant to Regulation S under the 1933 Act (or
a successor rule) (“Regulation S”), and the Buyer shall have delivered to the Company an opinion of counsel that shall
be in form, substance and scope customary for opinions of counsel in corporate transactions, which opinion shall be accepted by
the Company; (ii) any sale of such Securities made in reliance on Rule 144 may be made only in accordance with the terms of said
Rule and further, if said Rule is not applicable, any re-sale of such Securities under circumstances in which the seller (or the
person through whom the sale is made) may be deemed to be an underwriter (as that term is defined in the 1933 Act) may require
compliance with some other exemption under the 1933 Act or the rules and regulations of the SEC thereunder; and (iii) neither
the Company nor any other person is under any obligation to register such Securities under the 1933 Act or any state securities
laws or to comply with the terms and conditions of any exemption thereunder (in each case). Notwithstanding the foregoing or anything
else contained herein to the contrary, the Securities may be pledged as collateral in connection with a bona fide margin
account or other lending arrangement. In the event that the Company does not accept the opinion of counsel provided by the Buyer
with respect to the transfer of Securities pursuant to an exemption from registration, such as Rule 144 or Regulation S, within
three (3) business days of delivery of the opinion to the Company, the Company shall pay to the Buyer liquidated damages of five
percent (5%) of the outstanding amount of the Note per day plus accrued and unpaid interest on the Note, prorated for partial
months, in cash or shares at the option of the Buyer (“Standard Liquidated Damages Amount”). If the Buyer elects to
be pay the Standard Liquidated Damages Amount in shares of Common Stock, such shares shall be issued at the Conversion Price (as
defined in the Note) at the time of payment.

 

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g. Legends.
The Buyer understands that the Note and, until such time as the Conversion Shares have been registered under the 1933 Act may
be sold pursuant to Rule 144 or Regulation S without any restriction as to the number of securities as of a particular date that
can then be immediately sold, the Conversion Shares may bear a restrictive legend in substantially the following form (and a stop-transfer
order may be placed against transfer of the certificates for such Securities):

 

“NEITHER
THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE EXERCISABLE
HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT
BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN
A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE
144A UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT
OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.”

 

The
legend set forth above shall be removed and the Company shall issue a certificate without such legend to the holder of any Security
upon which it is stamped, if, unless otherwise required by applicable state securities laws, (a) such Security is registered for
sale under an effective registration statement filed under the 1933 Act or otherwise may be sold pursuant to Rule 144 or Regulation
S without any restriction as to the number of securities as of a particular date that can then be immediately sold, or (b) such
holder provides the Company with an opinion of counsel, in form, substance and scope customary for opinions of counsel in comparable
transactions, to the effect that a public sale or transfer of such Security may be made without registration under the 1933 Act,
which opinion shall be accepted by the Company so that the sale or transfer is effected. The Buyer agrees to sell all Securities,
including those represented by a certificate(s) from which the legend has been removed, in compliance with applicable prospectus
delivery requirements, if any. In the event that the Company does not accept the opinion of counsel provided by the Buyer with
respect to the transfer of Securities pursuant to an exemption from registration, such as Rule 144 or Regulation S, at the Deadline,
it will be considered an Event of Default pursuant to Section 3.2 of the Note.

 

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h. Authorization;
Enforcement. This Agreement has been duly and validly authorized. This Agreement has been duly executed and delivered on behalf
of the Buyer, and this Agreement constitutes a valid and binding agreement of the Buyer enforceable in accordance with its terms.

 

i. Residency.
The Buyer is a resident of the jurisdiction set forth in the preamble.

 

3. REPRESENTATIONS
AND WARRANTIES OF THE COMPANY. The Company represents and warrants to the Buyer that:

 

a. Organization
and Qualification. The Company and each of its Subsidiaries (as defined below), if any, is a corporation duly organized, validly
existing and in good standing under the laws of the jurisdiction in which it is incorporated, with full power and authority (corporate
and other) to own, lease, use and operate its properties and to carry on its business as and where now owned, leased, used, operated
and conducted. The Company and each of its Subsidiaries is duly qualified as a foreign corporation to do business and is in good
standing in every jurisdiction in which its ownership or use of property or the nature of the business conducted by it makes such
qualification necessary except where the failure to be so qualified or in good standing would not have a Material Adverse Effect.
“Material Adverse Effect” means any material adverse effect on the business, operations, assets, financial condition
or prospects of the Company or its Subsidiaries, if any, taken as a whole, or on the transactions contemplated hereby or by the
agreements or instruments to be entered into in connection herewith. “Subsidiaries” means any corporation or other
organization, whether incorporated or unincorporated, in which the Company owns, directly or indirectly, any equity or other ownership
interest.

 

b. Authorization;
Enforcement. (i) The Company has all requisite corporate power and authority to enter into and perform this Agreement, the
Note and to consummate the transactions contemplated hereby and thereby and to issue the Securities, in accordance with the terms
hereof and thereof, (ii) the execution and delivery of this Agreement, the Note by the Company and the consummation by it of the
transactions contemplated hereby and thereby (including without limitation, the issuance of the Note and the issuance and reservation
for issuance of the Conversion Shares issuable upon conversion or exercise thereof) have been duly authorized by the Company’s
Board of Directors and no further consent or authorization of the Company, its Board of Directors, or its shareholders is required,
(iii) this Agreement has been duly executed and delivered by the Company by its authorized representative, and such authorized
representative is the true and official representative with authority to sign this Agreement and the other documents executed
in connection herewith and bind the Company accordingly, and (iv) this Agreement constitutes, and upon execution and delivery
by the Company of the Note, each of such instruments will constitute, a legal, valid and binding obligation of the Company enforceable
against the Company in accordance with its terms.

 

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c. Capitalization.
As of the date hereof, the authorized capital stock of the Company consists of: (i) 500,000,000 shares of Common Stock, of which
approximately 108,589,633 shares are issued and outstanding; and (ii) 1,000,000 shares of preferred stock, of which 0 are issued
and outstanding. Except as disclosed in the SEC Documents, no shares are reserved for issuance pursuant to the Company’s
stock option plans, no shares are reserved for issuance pursuant to securities exclusive of the shares reserved for the Buyer
and for securities issued by the Company prior to the date of this Agreement (other than the Note and any other convertible promissory
note issued to the Buyer) exercisable for, or convertible into or exchangeable for shares of Common Stock and 72,413,792 shares
are reserved for issuance upon conversion of the Note. All of such outstanding shares of capital stock are, or upon issuance will
be, duly authorized, validly issued, fully paid and non-assessable. No shares of capital stock of the Company are subject to preemptive
rights or any other similar rights of the shareholders of the Company or any liens or encumbrances imposed through the actions
or failure to act of the Company. Except as disclosed in the SEC Documents, as of the effective date of this Agreement, (i) there
are no outstanding options, warrants, scrip, rights to subscribe for, puts, calls, rights of first refusal, agreements, understandings,
claims or other commitments or rights of any character whatsoever relating to, or securities or rights convertible into or exchangeable
for any shares of capital stock of the Company or any of its Subsidiaries, or arrangements by which the Company or any of its
Subsidiaries is or may become bound to issue additional shares of capital stock of the Company or any of its Subsidiaries, (ii)
there are no agreements or arrangements under which the Company or any of its Subsidiaries is obligated to register the sale of
any of its or their securities under the 1933 Act and (iii) there are no anti-dilution or price adjustment provisions contained
in any security issued by the Company (or in any agreement providing rights to security holders) that will be triggered by the
issuance of the Note or the Conversion Shares. The Company has filed in its SEC Documents true and correct copies of the Company’s
Certificate of Incorporation as in effect on the date hereof (“Certificate of Incorporation”), the Company’s
By-laws, as in effect on the date hereof (the “By-laws”), and the terms of all securities convertible into or exercisable
for Common Stock of the Company and the material rights of the holders thereof in respect thereto. The Company shall provide the
Buyer with a written update of this representation signed by the Company’s Chief Executive on behalf of the Company as of
the Closing Date.

 

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d. Issuance
of Shares. The issuance of the Note is duly authorized and, upon issuance in accordance with the terms of this Agreement,
will be validly issued, fully paid and non-assessable and free from all preemptive or similar rights, taxes, liens, charges and
other encumbrances with respect to the issue thereof. The Conversion Shares are duly authorized and reserved for issuance and,
upon conversion of the Note in accordance with its respective terms, will be validly issued, fully paid and non-assessable, and
free from all taxes, liens, claims and encumbrances with respect to the issue thereof and shall not be subject to preemptive rights
or other similar rights of shareholders of the Company and will not impose personal liability upon the holder thereof.

 

e. Acknowledgment
of Dilution. The Company understands and acknowledges the potentially dilutive effect to the Common Stock upon the issuance
of the Conversion Shares upon conversion of the Note. The Company further acknowledges that its obligation to issue Conversion
Shares upon conversion of the Note in accordance with this Agreement, the Note is absolute and unconditional regardless of the
dilutive effect that such issuance may have on the ownership interests of other shareholders of the Company.

 

f. No
Conflicts. The execution, delivery and performance of this Agreement and the Note by the Company and the consummation by the
Company of the transactions contemplated hereby and thereby (including, without limitation, the issuance and reservation for issuance
of the Conversion Shares) will not (i) conflict with or result in a violation of any provision of the Certificate of Incorporation
or By-laws, or (ii) violate or conflict with, or result in a breach of any provision of, or constitute a default (or an event
which with notice or lapse of time or both could become a default) under, or give to others any rights of termination, amendment,
acceleration or cancellation of, any agreement, indenture, patent, patent license or instrument to which the Company or any of
its Subsidiaries is a party, or (iii) result in a violation of any law, rule, regulation, order, judgment or decree (including
federal and state securities laws and regulations and regulations of any self-regulatory organizations to which the Company or
its securities are subject) applicable to the Company or any of its Subsidiaries or by which any property or asset of the Company
or any of its Subsidiaries is bound or affected (except for such conflicts, defaults, terminations, amendments, accelerations,
cancellations and violations as would not, individually or in the aggregate, have a Material Adverse Effect). Neither the Company
nor any of its Subsidiaries is in violation of its Certificate of Incorporation, By-laws or other organizational documents and
neither the Company nor any of its Subsidiaries is in default (and no event has occurred which with notice or lapse of time or
both could put the Company or any of its Subsidiaries in default) under, and neither the Company nor any of its Subsidiaries has
taken any action or failed to take any action that would give to others any rights of termination, amendment, acceleration or
cancellation of, any agreement, indenture or instrument to which the Company or any of its Subsidiaries is a party or by which
any property or assets of the Company or any of its Subsidiaries is bound or affected, except for possible defaults as would not,
individually or in the aggregate, have a Material Adverse Effect. The businesses of the Company and its Subsidiaries, if any,
are not being conducted, and shall not be conducted so long as the Buyer owns any of the Securities, in violation of any law,
ordinance or regulation of any governmental entity. Except as specifically contemplated by this Agreement and as required under
the 1933 Act and any applicable state securities laws, the Company is not required to obtain any consent, authorization or order
of, or make any filing or registration with, any court, governmental agency, regulatory agency, self-regulatory organization or
stock market or any third party in order for it to execute, deliver or perform any of its obligations under this Agreement, the
Note in accordance with the terms hereof or thereof or to issue and sell the Note in accordance with the terms hereof and to issue
the Conversion Shares upon conversion of the Note. All consents, authorizations, orders, filings and registrations which the Company
is required to obtain pursuant to the preceding sentence have been obtained or effected on or prior to the date hereof. The Company
is not in violation of the listing requirements of the OTC Pink (the “OTC Pink”), the OTCQB or any similar quotation
system, and does not reasonably anticipate that the Common Stock will be delisted by the OTC Pink, the OTCQB or any similar quotation
system, in the foreseeable future nor are the Company's securities “chilled” by DTC. The Company and its Subsidiaries
are unaware of any facts or circumstances which might give rise to any of the foregoing.

 

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g. SEC
Documents; Financial Statements. The Company has timely filed all reports, schedules, forms, statements and other documents
required to be filed by it with the SEC pursuant to the reporting requirements of the Securities Exchange Act of 1934, as amended
(the “1934 Act”) (all of the foregoing filed prior to the date hereof and all exhibits included therein and financial
statements and schedules thereto and documents (other than exhibits to such documents) incorporated by reference therein, being
hereinafter referred to herein as the “SEC Documents”). The Company has delivered to the Buyer true and complete copies
of the SEC Documents, except for such exhibits and incorporated documents. As of their respective dates, the SEC Documents complied
in all material respects with the requirements of the 1934 Act and the rules and regulations of the SEC promulgated thereunder
applicable to the SEC Documents, and none of the SEC Documents, at the time they were filed with the SEC, contained any untrue
statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the
statements therein, in light of the circumstances under which they were made, not misleading. None of the statements made in any
such SEC Documents is, or has been, required to be amended or updated under applicable law (except for such statements as have
been amended or updated in subsequent filings prior the date hereof). As of their respective dates, the financial statements of
the Company included in the SEC Documents complied as to form in all material respects with applicable accounting requirements
and the published rules and regulations of the SEC with respect thereto. Such financial statements have been prepared in accordance
with United States generally accepted accounting principles, consistently applied, during the periods involved and fairly present
in all material respects the consolidated financial position of the Company and its consolidated Subsidiaries as of the dates
thereof and the consolidated results of their operations and cash flows for the periods then ended (subject, in the case of unaudited
statements, to normal year-end audit adjustments). Except as set forth in the financial statements of the Company included in
the SEC Documents, the Company has no liabilities, contingent or otherwise, other than (i) liabilities incurred in the ordinary
course of business subsequent to June 30, 2019, and (ii) obligations under contracts and commitments incurred in the ordinary
course of business and not required under generally accepted accounting principles to be reflected in such financial statements,
which, individually or in the aggregate, are not material to the financial condition or operating results of the Company. The
Company is subject to the reporting requirements of the 1934 Act. For the avoidance of doubt, filing of the documents required
in this Section 3(g) via the SEC’s Electronic Data Gathering, Analysis, and Retrieval system (“EDGAR”) shall
satisfy all delivery requirements of this Section 3(g).

 

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h. Absence
of Certain Changes. Since June 30, 2019, there has been no material adverse change and no material adverse development in
the assets, liabilities, business, properties, operations, financial condition, results of operations, prospects or 1934 Act reporting
status of the Company or any of its Subsidiaries.

 

i. Absence
of Litigation. There is no action, suit, claim, proceeding, inquiry or investigation before or by any court, public board,
government agency, self-regulatory organization or body pending or, to the knowledge of the Company or any of its Subsidiaries,
threatened against or affecting the Company or any of its Subsidiaries, or their officers or directors in their capacity as such,
that could have a Material Adverse Effect. Schedule 3(i) contains a complete list and summary description of any pending or, to
the knowledge of the Company, threatened proceeding against or affecting the Company or any of its Subsidiaries, without regard
to whether it would have a Material Adverse Effect. The Company and its Subsidiaries are unaware of any facts or circumstances
which might give rise to any of the foregoing.

 

j. Patents,
Copyrights, etc. The Company and each of its Subsidiaries owns or possesses the requisite licenses or rights to use all patents,
patent applications, patent rights, inventions, know-how, trade secrets, trademarks, trademark applications, service marks, service
names, trade names and copyrights (“Intellectual Property”) necessary to enable it to conduct its business as now
operated (and, as presently contemplated to be operated in the future). Except as disclosed in the SEC Documents, there is no
claim or action by any person pertaining to, or proceeding pending, or to the Company’s knowledge threatened, which challenges
the right of the Company or of a Subsidiary with respect to any Intellectual Property necessary to enable it to conduct its business
as now operated (and, as presently contemplated to be operated in the future); to the best of the Company’s knowledge, the
Company’s or its Subsidiaries’ current and intended products, services and processes do not infringe on any Intellectual
Property or other rights held by any person; and the Company is unaware of any facts or circumstances which might give rise to
any of the foregoing. The Company and each of its Subsidiaries have taken reasonable security measures to protect the secrecy,
confidentiality and value of their Intellectual Property.

 

k. No
Materially Adverse Contracts, Etc. Neither the Company nor any of its Subsidiaries is subject to any charter, corporate or
other legal restriction, or any judgment, decree, order, rule or regulation which in the judgment of the Company’s officers
has or is expected in the future to have a Material Adverse Effect. Neither the Company nor any of its Subsidiaries is a party
to any contract or agreement which in the judgment of the Company’s officers has or is expected to have a Material Adverse
Effect.

 

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l. Tax
Status. The Company and each of its Subsidiaries has made or filed all federal, state and foreign income and all other tax
returns, reports and declarations required by any jurisdiction to which it is subject (unless and only to the extent that the
Company and each of its Subsidiaries has set aside on its books provisions reasonably adequate for the payment of all unpaid and
unreported taxes) and has paid all taxes and other governmental assessments and charges that are material in amount, shown or
determined to be due on such returns, reports and declarations, except those being contested in good faith and has set aside on
its books provisions reasonably adequate for the payment of all taxes for periods subsequent to the periods to which such returns,
reports or declarations apply. There are no unpaid taxes in any material amount claimed to be due by the taxing authority of any
jurisdiction, and the officers of the Company know of no basis for any such claim. The Company has not executed a waiver with
respect to the statute of limitations relating to the assessment or collection of any foreign, federal, state or local tax. None
of the Company’s tax returns is presently being audited by any taxing authority.

 

m. Certain
Transactions. Except for arm’s length transactions pursuant to which the Company or any of its Subsidiaries makes payments
in the ordinary course of business upon terms no less favorable than the Company or any of its Subsidiaries could obtain from
third parties and other than the grant of stock options disclosed on Schedule 3(c), none of the officers, directors, or employees
of the Company is presently a party to any transaction with the Company or any of its Subsidiaries (other than for services as
employees, officers and directors), including any contract, agreement or other arrangement providing for the furnishing of services
to or by, providing for rental of real or personal property to or from, or otherwise requiring payments to or from any officer,
director or such employee or, to the knowledge of the Company, any corporation, partnership, trust or other entity in which any
officer, director, or any such employee has a substantial interest or is an officer, director, trustee or partner.

 

n. Disclosure.
All information relating to or concerning the Company or any of its Subsidiaries set forth in this Agreement and provided to the
Buyer pursuant to Section 2(d) hereof and otherwise in connection with the transactions contemplated hereby is true and correct
in all material respects and the Company has not omitted to state any material fact necessary in order to make the statements
made herein or therein, in light of the circumstances under which they were made, not misleading. No event or circumstance has
occurred or exists with respect to the Company or any of its Subsidiaries or its or their business, properties, prospects, operations
or financial conditions, which, under applicable law, rule or regulation, requires public disclosure or announcement by the Company
but which has not been so publicly announced or disclosed (assuming for this purpose that the Company’s reports filed under
the 1934 Act are being incorporated into an effective registration statement filed by the Company under the 1933 Act).

 

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o. Acknowledgment
Regarding Buyer’ Purchase of Securities. The Company acknowledges and agrees that the Buyer is acting solely in the
capacity of arm’s length purchasers with respect to this Agreement and the transactions contemplated hereby. The Company
further acknowledges that the Buyer is not acting as a financial advisor or fiduciary of the Company (or in any similar capacity)
with respect to this Agreement and the transactions contemplated hereby and any statement made by the Buyer or any of its respective
representatives or agents in connection with this Agreement and the transactions contemplated hereby is not advice or a recommendation
and is merely incidental to the Buyer’ purchase of the Securities. The Company further represents to the Buyer that the
Company’s decision to enter into this Agreement has been based solely on the independent evaluation of the Company and its
representatives.

 

p. No
Integrated Offering. Neither the Company, nor any of its affiliates, nor any person acting on its or their behalf, has directly
or indirectly made any offers or sales in any security or solicited any offers to buy any security under circumstances that would
require registration under the 1933 Act of the issuance of the Securities to the Buyer. The issuance of the Securities to the
Buyer will not be integrated with any other issuance of the Company’s securities (past, current or future) for purposes
of any shareholder approval provisions applicable to the Company or its securities.

 

q. No
Brokers. The Company has taken no action which would give rise to any claim by any person for brokerage commissions, transaction
fees or similar payments relating to this Agreement or the transactions contemplated hereby.

 

r. Permits;
Compliance. The Company and each of its Subsidiaries is in possession of all franchises, grants, authorizations, licenses,
permits, easements, variances, exemptions, consents, certificates, approvals and orders necessary to own, lease and operate its
properties and to carry on its business as it is now being conducted (collectively, the “Company Permits”), and there
is no action pending or, to the knowledge of the Company, threatened regarding suspension or cancellation of any of the Company
Permits. Neither the Company nor any of its Subsidiaries is in conflict with, or in default or violation of, any of the Company
Permits, except for any such conflicts, defaults or violations which, individually or in the aggregate, would not reasonably be
expected to have a Material Adverse Effect. Since June 30, 2019, neither the Company nor any of its Subsidiaries has received
any notification with respect to possible conflicts, defaults or violations of applicable laws, except for notices relating to
possible conflicts, defaults or violations, which conflicts, defaults or violations would not have a Material Adverse Effect.

 

    11

     

    

 

s. Environmental
Matters.

 

(i) There
are, to the Company’s knowledge, with respect to the Company or any of its Subsidiaries or any predecessor of the Company,
no past or present violations of Environmental Laws (as defined below), releases of any material into the environment, actions,
activities, circumstances, conditions, events, incidents, or contractual obligations which may give rise to any common law environmental
liability or any liability under the Comprehensive Environmental Response, Compensation and Liability Act of 1980 or similar federal,
state, local or foreign laws and neither the Company nor any of its Subsidiaries has received any notice with respect to any of
the foregoing, nor is any action pending or, to the Company’s knowledge, threatened in connection with any of the foregoing.
The term “Environmental Laws” means all federal, state, local or foreign laws relating to pollution or protection
of human health or the environment (including, without limitation, ambient air, surface water, groundwater, land surface or subsurface
strata), including, without limitation, laws relating to emissions, discharges, releases or threatened releases of chemicals,
pollutants contaminants, or toxic or hazardous substances or wastes (collectively, “Hazardous Materials”) into the
environment, or otherwise relating to the manufacture, processing, distribution, use, treatment, storage, disposal, transport
or handling of Hazardous Materials, as well as all authorizations, codes, decrees, demands or demand letters, injunctions, judgments,
licenses, notices or notice letters, orders, permits, plans or regulations issued, entered, promulgated or approved thereunder.

 

(ii) Other
than those that are or were stored, used or disposed of in compliance with applicable law, no Hazardous Materials are contained
on or about any real property currently owned, leased or used by the Company or any of its Subsidiaries, and no Hazardous Materials
were released on or about any real property previously owned, leased or used by the Company or any of its Subsidiaries during
the period the property was owned, leased or used by the Company or any of its Subsidiaries, except in the normal course of the
Company’s or any of its Subsidiaries’ business.

 

(iii) There
are no underground storage tanks on or under any real property owned, leased or used by the Company or any of its Subsidiaries
that are not in compliance with applicable law.

 

t. Title
to Property. Except as disclosed in the SEC Documents the Company and its Subsidiaries have good and marketable title in fee
simple to all real property and good and marketable title to all personal property owned by them which is material to the business
of the Company and its Subsidiaries, in each case free and clear of all liens, encumbrances and defects or such as would not have
a Material Adverse Effect. Any real property and facilities held under lease by the Company and its Subsidiaries are held by them
under valid, subsisting and enforceable leases with such exceptions as would not have a Material Adverse Effect.

 

u. Internal
Accounting Controls. Except as disclosed in the SEC Documents the Company and each of its Subsidiaries maintain a system of
internal accounting controls sufficient, in the judgment of the Company’s board of directors, to provide reasonable assurance
that (i) transactions are executed in accordance with management’s general or specific authorizations, (ii) transactions
are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles
and to maintain asset accountability, (iii) access to assets is permitted only in accordance with management’s general or
specific authorization and (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals
and appropriate action is taken with respect to any differences.

 

    12

     

    

 

v. Foreign
Corrupt Practices. Neither the Company, nor any of its Subsidiaries, nor any director, officer, agent, employee or other person
acting on behalf of the Company or any Subsidiary has, in the course of his actions for, or on behalf of, the Company, used any
corporate funds for any unlawful contribution, gift, entertainment or other unlawful expenses relating to political activity;
made any direct or indirect unlawful payment to any foreign or domestic government official or employee from corporate funds;
violated or is in violation of any provision of the U.S. Foreign Corrupt Practices Act of 1977, as amended, or made any bribe,
rebate, payoff, influence payment, kickback or other unlawful payment to any foreign or domestic government official or employee.

 

w. Solvency.
The Company (after giving effect to the transactions contemplated by this Agreement) is solvent (i.e., its assets have
a fair market value in excess of the amount required to pay its probable liabilities on its existing debts as they become absolute
and matured) and currently the Company has no information that would lead it to reasonably conclude that the Company would not,
after giving effect to the transaction contemplated by this Agreement, have the ability to, nor does it intend to take any action
that would impair its ability to, pay its debts from time to time incurred in connection therewith as such debts mature. The Company
did not receive a qualified opinion from its auditors with respect to its most recent fiscal year end and, after giving effect
to the transactions contemplated by this Agreement, does not anticipate or know of any basis upon which its auditors might issue
a qualified opinion in respect of its current fiscal year. For the avoidance of doubt any disclosure of the Borrower’s ability
to continue as a “going concern” shall not, by itself, be a violation of this Section 3(w).

 

x. No
Investment Company. The Company is not, and upon the issuance and sale of the Securities as contemplated by this Agreement
will not be an “investment company” required to be registered under the Investment Company Act of 1940 (an “Investment
Company”). The Company is not controlled by an Investment Company.

 

y.
Insurance. The Company and each of its Subsidiaries are insured by insurers of recognized financial responsibility against
such losses and risks and in such amounts as management of the Company believes to be prudent and customary in the businesses
in which the Company and its Subsidiaries are engaged. Neither the Company nor any such Subsidiary has any reason to believe that
it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from
similar insurers as may be necessary to continue its business at a cost that would not have a Material Adverse Effect. Upon written
request the Company will provide to the Buyer true and correct copies of all policies relating to directors’ and officers’
liability coverage, errors and omissions coverage, and commercial general liability coverage.

 

    13

     

    

 

z. Bad
Actor.  No officer or director of the Company would be disqualified under Rule 506(d) of the Securities Act as amended
on the basis of being a “bad actor” as that term is established in the September 19, 2013 Small Entity Compliance
Guide published by the SEC.

 

aa.Shell
Status. The Company represents that it is not a “shell” issuer and has never been a “shell” issuer,
or that if it previously has been a “shell” issuer, that at least twelve (12) months have passed since the Company
has reported Form 10 type information indicating that it is no longer a “shell” issuer. Further, the Company will
instruct its counsel to either (i) write a 144- 3(a)(9) opinion to allow for salability of the Conversion Shares or (ii) accept
such opinion from Holder’s counsel.

 

bb.
No-Off Balance Sheet Arrangements. There is no transaction, arrangement, or other relationship between the Company or any
of its Subsidiaries and an unconsolidated or other off balance sheet entity that is required to be disclosed by the Company in
its 1934 Act filings and is not so disclosed or that otherwise could be reasonably likely to have a Material Adverse Effect.

 

cc.Manipulation
of Price. The Company has not, and to its knowledge no one acting on its behalf has: (i) taken, directly or indirectly, any
action designed to cause or to result, or that could reasonably be expected to cause or result, in the stabilization or manipulation
of the price of any security of the Company to facilitate the sale or resale of any of the Securities, (ii) sold, bid for, purchased,
or paid any compensation for soliciting purchases of, any of the Securities, or (iii) paid or agreed to pay to any person any
compensation for soliciting another to purchase any other securities of the Company.

 

dd.Sarbanes-Oxley
Act. The Company and each Subsidiary is in material compliance with all applicable requirements of the Sarbanes-Oxley Act
of 2002 that are effective as of the date hereof, and all applicable rules and regulations promulgated by the SEC thereunder that
are effective as of the date hereof.

 

ee.Employee
Relations. Neither the Company nor any of its Subsidiaries is a party to any collective bargaining agreement or employs any
member of a union. The Company believes that its and its Subsidiaries’ relations with their respective employees are good.
No executive officer (as defined in Rule 501(f) promulgated under the 1933 Act) or other key employee of the Company or any of
its Subsidiaries has notified the Company or any such Subsidiary that such officer intends to leave the Company or any such Subsidiary
or otherwise terminate such officer’s employment with the Company or any such Subsidiary. To the knowledge of the Company,
no executive officer or other key employee of the Company or any of its Subsidiaries is, or is now expected to be, in violation
of any material term of any employment contract, confidentiality, disclosure or proprietary information agreement, non-competition
agreement, or any other contract or agreement or any restrictive covenant, and the continued employment of each such executive
officer or other key employee (as the case may be) does not subject the Company or any of its Subsidiaries to any liability with
respect to any of the foregoing matters. The Company and its Subsidiaries are in compliance with all federal, state, local and
foreign laws and regulations respecting labor, employment and employment practices and benefits, terms and conditions of employment
and wages and hours, except where failure to be in compliance would not, either individually or in the aggregate, reasonably be
expected to result in a Material Adverse Effect.

 

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ff.Breach
of Representations and Warranties by the Company. The Company agrees that if the Company breaches any of the representations
or warranties set forth in this Section 3, and in addition to any other remedies available to the Buyer pursuant to this Agreement
and it being considered an Event of Default under Section 3.5 of the Note, the Company shall pay to the Buyer the Standard Liquidated
Damages Amount in cash or in shares of Common Stock at the option of the Company, until such breach is cured. If the Company elects
to pay the Standard Liquidated Damages Amounts in shares of Common Stock, such shares shall be issued at the Conversion Price
at the time of payment.

 

4. COVENANTS.

 

a. Best
Efforts. The parties shall use their commercially reasonable best efforts to satisfy timely each of the conditions described
in Section 7 and 8 of this Agreement.

 

b. Form
D; Blue Sky Laws. The Company agrees to file a Form D with respect to the Securities as required under Regulation D and to
provide a copy thereof to the Buyer promptly after such filing. The Company shall, on or before the Closing Date, take such action
as the Company shall reasonably determine is necessary to qualify the Securities for sale to the Buyer at the applicable closing
pursuant to this Agreement under applicable securities or “blue sky” laws of the states of the United States (or to
obtain an exemption from such qualification), and shall provide evidence of any such action so taken to the Buyer on or prior
to the Closing Date.

 

c. Use
of Proceeds. The Company shall use the proceeds from the sale of the Note for working capital and other general corporate
purposes and shall not, directly or indirectly, use such proceeds for any loan to or investment in any other corporation, partnership,
enterprise or other person (except in connection with its currently existing direct or indirect Subsidiaries).

 

    15

     

    

 

d. Right
of First Refusal. Unless it shall have first delivered to the Buyer, at least seventy two (72) hours prior to the closing
of such Future Offering (as defined herein), written notice describing the proposed Future Offering, including the terms and conditions
thereof, and providing the Buyer an option during the seventy two (72) hour period following delivery of such notice to purchase
the securities being offered in the Future Offering on the same terms as contemplated by such Future Offering (the limitations
referred to in this sentence and the preceding sentence are collectively referred to as the “Right of First Refusal”)
(and subject to the exceptions described below), the Company will not conduct any equity financing (including debt with an equity
component) (“Future Offerings”) during the period beginning on the Closing Date and ending twelve (12) months following
the Closing Date. In the event the terms and conditions of a proposed Future Offering are amended in any respect after delivery
of the notice to the Buyer concerning the proposed Future Offering, the Company shall deliver a new notice to the Buyer describing
the amended terms and conditions of the proposed Future Offering and the Buyer thereafter shall have an option during the seventy
two (72) hour period following delivery of such new notice to purchase its pro rata share of the securities being offered on the
same terms as contemplated by such proposed Future Offering, as amended. The foregoing sentence shall apply to successive amendments
to the terms and conditions of any proposed Future Offering. The Right of First Refusal shall not apply to any transaction involving
(i) issuances of securities in a firm commitment underwritten public offering (excluding a continuous offering pursuant to Rule
415 under the 1933 Act), (ii) issuances to employees, officers, directors, contractors, consultants or other advisors approved
by the Board, (iii) issuances to strategic partners or other parties in connection with a commercial relationship, or providing
the Company with equipment leases, real property leases or similar transactions approved by the Board (iv) issuances of securities
as consideration for a merger, consolidation or purchase of assets, or in connection with any strategic partnership or joint venture
(the primary purpose of which is not to raise equity capital), or in connection with the disposition or acquisition of a business,
product or license by the Company. The Right of First Refusal also shall not apply to the issuance of securities upon exercise
or conversion of the Company’s options, warrants or other convertible securities outstanding as of the date hereof or to
the grant of additional options or warrants, or the issuance of additional securities, under any Company stock option or restricted
stock plan approved by the shareholders of the Company.

 

e. Expenses.
The Company shall reimburse Buyer for any and all expenses incurred by them in connection with the negotiation, preparation, execution,
delivery and performance of this Agreement and the other agreements to be executed in connection herewith (“Documents”),
including, without limitation, reasonable attorneys’ and consultants’ fees and expenses, transfer agent fees, fees
for stock quotation services, fees relating to any amendments or modifications of the Documents or any consents or waivers of
provisions in the Documents, fees for the preparation of opinions of counsel, escrow fees, and costs of restructuring the transactions
contemplated by the Documents. When possible, the Company must pay these fees directly, including, but not limited to, any and
all wire fees, otherwise the Company must make immediate payment for reimbursement to the Buyer for all fees and expenses immediately
upon written notice by the Buyer or the submission of an invoice by the Buyer. At Closing, the Company’s initial obligation
with respect to this transaction is to reimburse Buyer’s legal expenses shall be $2,750.00 plus the cost of wire fees.

 

    16

     

    

 

f. Financial
Information. The Company agrees to send or make available the following reports to the Buyer until the Buyer transfers, assigns,
or sells all of the Securities: (i) within ten (10) days after the filing with the SEC, a copy of its Annual Report on Form
10-K its Quarterly Reports on Form 10-Q and any Current Reports on Form 8-K; (ii) within one (1) day after release, copies
of all press releases issued by the Company or any of its Subsidiaries; and (iii) contemporaneously with the making available
or giving to the shareholders of the Company, copies of any notices or other information the Company makes available or gives
to such shareholders. For the avoidance of doubt, filing the documents required in (i) above via EDGAR or releasing any documents
set forth in (ii) above via a recognized wire service shall satisfy the delivery requirements of this Section 4(f).

 

g. Listing.
The Company shall promptly secure the listing of the Conversion Shares upon each national securities exchange or automated quotation
system, if any, upon which shares of Common Stock are then listed (subject to official notice of issuance) and, so long as the
Buyer owns any of the Securities, shall maintain, so long as any other shares of Common Stock shall be so listed, such listing
of all Conversion Shares from time to time issuable upon conversion of the Note. The Company will obtain and, so long as the Buyer
owns any of the Securities, maintain the listing and trading of its Common Stock on the OTC Pink, OTCQB or any equivalent replacement
exchange, the Nasdaq National Market (“Nasdaq”), the Nasdaq SmallCap Market (“Nasdaq SmallCap”), the New
York Stock Exchange (“NYSE”), or the NYSE American and will comply in all respects with the Company’s reporting,
filing and other obligations under the bylaws or rules of the Financial Industry Regulatory Authority (“FINRA”) and
such exchanges, as applicable. The Company shall promptly provide to the Buyer copies of any material notices it receives from
the OTC Pink, OTCQB and any other exchanges or quotation systems on which the Common Stock is then listed regarding the continued
eligibility of the Common Stock for listing on such exchanges and quotation systems. The Company shall pay any and all fees and
expenses in connection with satisfying its obligation under this Section 4(g).

 

h. Corporate
Existence. So long as the Buyer beneficially owns any Note, the Company shall maintain its corporate existence and shall not
sell all or substantially all of the Company’s assets, except in the event of a merger or consolidation or sale of all or
substantially all of the Company’s assets, where the surviving or successor entity in such transaction (i) assumes the Company’s
obligations hereunder and under the agreements and instruments entered into in connection herewith and (ii) is a publicly traded
corporation whose Common Stock is listed for trading on the OTC Pink, OTCQB, Nasdaq, NasdaqSmallCap, NYSE or AMEX.

 

i. No
Integration. The Company shall not make any offers or sales of any security (other than the Securities) under circumstances
that would require registration of the Securities being offered or sold hereunder under the 1933 Act or cause the offering of
the Securities to be integrated with any other offering of securities by the Company for the purpose of any stockholder approval
provision applicable to the Company or its securities.

 

    17

     

    

 

j. Failure
to Comply with the 1934 Act. So long as the Buyer beneficially owns the Note, the Company shall comply with the reporting
requirements of the 1934 Act; and the Company shall continue to be subject to the reporting requirements of the 1934 Act.

 

k. [Intentionally
Omitted].

l. Restriction
on Activities. Commencing as of the date first above written, and until the sooner of the six month anniversary of the date
first written above or payment of the Note in full, or full conversion of the Note, the Company shall not, directly or indirectly,
without the Buyer’s prior written consent, which consent shall not be unreasonably withheld: (a) change the nature of its
business; (b) sell, divest, acquire, change the structure of any material assets other than in the ordinary course of business;
or (c) solicit any offers for, respond to any unsolicited offers for, or conduct any negotiations with any other person or entity
in respect of any variable rate debt transactions (i.e., transactions were the conversion or exercise price of the security issued
by the Company varies based on the market price of the Common Stock) above $300,000, whether a transaction similar to the one
contemplated hereby or any other investment; or (d) file any registration statements with the SEC.

 

m. [Intentionally
Omitted].

 

n.
Par Value.  If the closing bid price at any time the Note is outstanding falls below $0.001, the Company shall cause
the par value of its Common Stock to be reduced to $0.00001 or less.

 

o. Breach
of Covenants. The Company agrees that if the Company breaches any of the covenants set forth in this Section 4, and in addition
to any other remedies available to the Buyer pursuant to this Agreement, it will be considered an Event of Default under Section
3.4 of the Note, the Company shall pay to the Buyer the Standard Liquidated Damages Amount in cash or in shares of Common Stock
at the option of the Buyer, until such breach is cured, or with respect to Section 4(d) above, the Company shall pay to the Buyer
the Standard Liquidated Damages Amount in cash or shares of Common Stock, at the option of the Buyer, upon each violation of such
provision. If the Company elects to pay the Standard Liquidated Damages Amounts in shares of Common Stock, such shares shall be
issued at the Conversion Price at the time of payment.

 

5. Transaction
Expense Amount.  Upon Closing, the Company shall pay Thirty Thousand and 00/100 United States Dollars (US$30,000.00)
to [                   ] to cover the Holder's due diligence, monitoring, and other transaction
costs incurred for services rendered in connection herewith (the “Transaction Expense Amount”).  The Transaction
Expense Amount shall be offset against the proceeds of the Note and shall be paid to [           ] upon the execution hereof.

 

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6. Transfer
Agent Instructions. The Company shall issue irrevocable instructions to its transfer agent to issue certificates, registered
in the name of the Buyer or its nominee, for the Conversion Shares in such amounts as specified from time to time by the Buyer
to the Company upon conversion of the Note in accordance with the terms thereof (the “Irrevocable Transfer Agent Instructions”). 
In the event that the Borrower proposes to replace its transfer agent, the Borrower shall provide, prior to the effective date
of such replacement, a fully executed Irrevocable Transfer Agent Instructions in a form as initially delivered pursuant to the
Purchase Agreement (including but not limited to the provision to irrevocably reserve shares of Common Stock in the Reserved Amount)
signed by the successor transfer agent to Borrower and the Borrower. Prior to registration of the Conversion Shares under the
1933 Act or the date on which the Conversion Shares may be sold pursuant to Rule 144 without any restriction as to the number
of Securities as of a particular date that can then be immediately sold, all such certificates shall bear the restrictive legend
specified in Section 2(g) of this Agreement.  The Company warrants that: (i) no instruction other than the Irrevocable Transfer
Agent Instructions referred to in this Section, and stop transfer instructions to give effect to Section 2(f) hereof (in the case
of the Conversion Shares, prior to registration of the Conversion Shares under the 1933 Act or the date on which the Conversion
Shares may be sold pursuant to Rule 144 without any restriction as to the number of Securities as of a particular date that can
then be immediately sold), will be given by the Company to its transfer agent and that the Securities shall otherwise be freely
transferable on the books and records of the Company as and to the extent provided in this Agreement and the Note; (ii) it will
not direct its transfer agent not to transfer or delay, impair, and/or hinder its transfer agent in transferring (or issuing)(electronically
or in certificated form) any certificate for Conversion Shares to be issued to the Buyer upon conversion of or otherwise pursuant
to the Note as and when required by the Note and this Agreement; and (iii) it will not fail to remove (or directs its transfer
agent not to remove or impairs, delays, and/or hinders its transfer agent from removing) any restrictive legend (or to withdraw
any stop transfer instructions in respect thereof) on any certificate for any Conversion Shares issued to the Buyer upon conversion
of or otherwise pursuant to the Note as and when required by the Note and this Agreement.  Nothing in this Section shall
affect in any way the Buyer’s obligations and agreement set forth in Section 2(g) hereof to comply with all applicable prospectus
delivery requirements, if any, upon re-sale of the Securities.  If the Buyer provides the Company with (i) an opinion of
counsel in form, substance and scope customary for opinions in comparable transactions, to the effect that a public sale or transfer
of such Securities may be made without registration under the 1933 Act and such sale or transfer is effected or (ii) the Buyer
provides reasonable assurances that the Securities can be sold pursuant to Rule 144, the Company shall permit the transfer, and,
in the case of the Conversion Shares, promptly instruct its transfer agent to issue one or more certificates, free from restrictive
legend, in such name and in such denominations as specified by the Buyer.  The Company acknowledges that a breach by it of
its obligations hereunder will cause irreparable harm to the Buyer, by vitiating the intent and purpose of the transactions contemplated
hereby.  Accordingly, the Company acknowledges that the remedy at law for a breach of its obligations under this Section
may be inadequate and agrees, in the event of a breach or threatened breach by the Company of the provisions of this Section,
that the Buyer shall be entitled, in addition to all other available remedies, to an injunction restraining any breach and requiring
immediate transfer, without the necessity of showing economic loss and without any bond or other security being required.

 

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7. CONDITIONS
PRECEDENT TO THE COMPANY’S OBLIGATIONS TO SELL. The obligation of the Company hereunder to issue and sell the Note to
the Buyer at the Closing is subject to the satisfaction, at or before the Closing Date of each of the following conditions thereto,
provided that these conditions are for the Company’s sole benefit and may be waived by the Company at any time in its sole
discretion:

 

a. The
Buyer shall have executed this Agreement and delivered the same to the Company.

 

b. The
Buyer shall have delivered the Purchase Price in accordance with Section 1(b) above.

 

c. The
representations and warranties of the Buyer shall be true and correct in all material respects as of the date when made and as
of the Closing Date as though made at that time (except for representations and warranties that speak as of a specific date),
and the Buyer shall have performed, satisfied and complied in all material respects with the covenants, agreements and conditions
required by this Agreement to be performed, satisfied or complied with by the Buyer at or prior to the Closing Date.

 

d. No
litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated
or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having
authority over the matters contemplated hereby which prohibits the consummation of any of the transactions contemplated by this
Agreement.

 

8. CONDITIONS
PRECEDENT TO THE BUYER’S OBLIGATION TO PURCHASE. The obligation of the Buyer hereunder to purchase the Note at the Closing
is subject to the satisfaction, at or before the Closing Date of each of the following conditions, provided that these conditions
are for the Buyer’s sole benefit and may be waived by the Buyer at any time in its sole discretion:

 

a. The
Company shall have executed this Agreement and delivered the same to the Buyer.

 

b. The
Company shall have delivered to the Buyer the duly executed Note (in such denominations as the Buyer shall request) and in accordance
with Section 1(b) above.

 

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c. The
Irrevocable Transfer Agent Instructions, in form and substance satisfactory to a majority-in-interest of the Buyer, shall have
been delivered to and acknowledged in writing by the Company’s Transfer Agent.

 

d. The
representations and warranties of the Company shall be true and correct in all material respects as of the date when made and
as of the Closing Date as though made at such time (except for representations and warranties that speak as of a specific date)
and the Company shall have performed, satisfied and complied in all material respects with the covenants, agreements and conditions
required by this Agreement to be performed, satisfied or complied with by the Company at or prior to the Closing Date. The Buyer
shall have received a certificate or certificates, executed by the chief executive officer of the Company, dated as of the Closing
Date, to the foregoing effect and as to such other matters as may be reasonably requested by the Buyer including, but not limited
to certificates with respect to the Company’s Certificate of Incorporation, By-laws and Board of Directors’ resolutions
relating to the transactions contemplated hereby.

 

e. No
litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated
or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having
authority over the matters contemplated hereby which prohibits the consummation of any of the transactions contemplated by this
Agreement.

 

f. No
event shall have occurred which could reasonably be expected to have a Material Adverse Effect on the Company including but not
limited to a change in the 1934 Act reporting status of the Company or the failure of the Company to be timely in its 1934 Act
reporting obligations.

 

g. The
Conversion Shares shall have been authorized for quotation on the OTC Pink, OTCQB or any similar quotation system and trading
in the Common Stock on the OTC Pink, OTCQB or any similar quotation system shall not have been suspended by the SEC or the OTC
Pink, OTCQB or any similar quotation system.

 

h. The
Buyer shall have received an officer’s certificate described in Section 3(c) above, dated as of the Closing Date.

 

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9. GOVERNING
LAW; MISCELLANEOUS.

 

a. Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware without regard
to principles of conflicts of laws. Any action brought by either party against the other concerning the transactions contemplated
by this Agreement, the Note or any other agreement, certificate, instrument or document contemplated hereby shall be brought only
in the state courts located in the Commonwealth of Massachusetts or in the federal courts located in the Commonwealth of Massachusetts.
The parties to this Agreement hereby irrevocably waive any objection to jurisdiction and venue of any action instituted hereunder
and shall not assert any defense based on lack of jurisdiction or venue or based upon forum non conveniens. EACH PARTY
HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE
HEREUNDER OR UNDER ANY OTHER TRANSACTION DOCUMENT OR IN CONNECTION WITH OR ARISING OUT OF THIS AGREEMENT, ANY OTHER TRANSACTION
DOCUMENT OR ANY TRANSACTION CONTEMPLATED HEREBY OR THEREBY. The prevailing party shall be entitled to recover from the other
party its reasonable attorney's fees and costs. In the event that any provision of this Agreement or any other agreement delivered
in connection herewith is invalid or unenforceable under any applicable statute or rule of law, then such provision shall be deemed
inoperative to the extent that it may conflict therewith and shall be deemed modified to conform with such statute or rule of
law. Any such provision which may prove invalid or unenforceable under any law shall not affect the validity or enforceability
of any other provision of any agreement. Each party hereby irrevocably waives personal service of process and consents to process
being served in any suit, action or proceeding in connection with this Agreement or any other Transaction Document by mailing
a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address
in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of
process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other
manner permitted by law.

 

b. Counterparts;
Signatures by Facsimile. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original
but all of which shall constitute one and the same agreement and shall become effective when counterparts have been signed by
each party and delivered to the other party. This Agreement, once executed by a party, may be delivered to the other party hereto
by facsimile transmission of a copy of this Agreement bearing the signature of the party so delivering this Agreement.

 

c. Construction;
Headings.  This Agreement shall be deemed to be jointly drafted by the Company and the Buyer and shall not be construed
against any person as the drafter hereof. The headings of this Agreement are for convenience of reference only and shall not form
part of, or affect the interpretation of, this Agreement.

 

d. Severability.
In the event that any provision of this Agreement is invalid or unenforceable under any applicable statute or rule of law, then
such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform
with such statute or rule of law. Any provision hereof which may prove invalid or unenforceable under any law shall not affect
the validity or enforceability of any other provision hereof.

 

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e. Entire
Agreement; Amendments. This Agreement, the Note and the instruments referenced herein contain the entire understanding of
the parties with respect to the matters covered herein and therein and, except as specifically set forth herein or therein, neither
the Company nor the Buyer makes any representation, warranty, covenant or undertaking with respect to such matters. No provision
of this Agreement may be waived or amended other than by an instrument in writing signed by the majority in interest of the Buyer.

 

f. Notices.
All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder shall be in writing
and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered or certified, return
receipt requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid, or (iv) transmitted
by hand delivery, telegram, email, or facsimile, addressed as set forth below or to such other address as such party shall have
specified most recently by written notice. Any notice or other communication required or permitted to be given hereunder shall
be deemed effective (a) upon hand delivery or delivery by email or facsimile, with accurate confirmation generated by the transmitting
facsimile machine, at the address or number designated below (if delivered on a business day during normal business hours where
such notice is to be received), or the first business day following such delivery (if delivered other than on a business day during
normal business hours where such notice is to be received) or (b) on the second business day following the date of mailing by
express courier service, fully prepaid, addressed to such address, or upon actual receipt of such mailing, whichever shall first
occur. The addresses for such communications shall be:

 

If
to the Company, to:

 

C-Bond
Systems, Inc.

6035
South Loop East

Houston,
TX 77033

Attn:
Scott Silverman

E-mail:
atomek@cbondsystems.com

 

If
to the Buyer:

 

NAME

ADDRESS

Attn:

Facsimile:

 

    23

     

    

 

With
a copy to (which copy shall not constitute notice):

 

NAME

ADDRESS

Attn:

Facsimile:

 

Each
party shall provide notice to the other party of any change in address.

 

g. Successors
and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and assigns.
Neither the Company nor the Buyer shall assign this Agreement or any rights or obligations hereunder without the prior written
consent of the other. Notwithstanding the foregoing, subject to Section 2(f), the Buyer may assign its rights hereunder to
any person that purchases Securities in a private transaction from the Buyer or to any of its “affiliates,” as that
term is defined under the 1934 Act, without the consent of the Company.

 

h. Third
Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective permitted successors
and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other person.

 

i. Survival.
The representations and warranties of the Company and the agreements and covenants set forth in this Agreement shall survive the
closing hereunder not withstanding any due diligence investigation conducted by or on behalf of the Buyer. The Company agrees
to indemnify and hold harmless the Buyer and all their officers, directors, employees and agents for loss or damage arising as
a result of or related to any breach or alleged breach by the Company of any of its representations, warranties and covenants
set forth in this Agreement or any of its covenants and obligations under this Agreement, including advancement of expenses as
they are incurred.

 

j. Further
Assurances. Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall
execute and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably request
in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated
hereby.

 

k. No
Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to express
their mutual intent, and no rules of strict construction will be applied against any party.

 

    24

     

    

 

l. Remedies.
The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Buyer by vitiating
the intent and purpose of the transaction contemplated hereby. Accordingly, the Company acknowledges that the remedy at law for
a breach of its obligations under this Agreement will be inadequate and agrees, in the event of a breach or threatened breach
by the Company of the provisions of this Agreement, that the Buyer shall be entitled, in addition to all other available remedies
at law or in equity, and in addition to the penalties assessable herein, to an injunction or injunctions restraining, preventing
or curing any breach of this Agreement and to enforce specifically the terms and provisions hereof, without the necessity of showing
economic loss and without any bond or other security being required.

 

m. Publicity.
The Company, and the Buyer shall have the right to review a reasonable period of time before issuance of any press releases, SEC,
OTCQB or FINRA filings, or any other public statements with respect to the transactions contemplated hereby; provided,
however, that the Company shall be entitled, without the prior approval of the Buyer, to make any press release or SEC,
OTCQB (or other applicable trading market) or FINRA filings with respect to such transactions as is required by applicable law
and regulations (although the Buyer shall be consulted by the Company in connection with any such press release prior to its release
and shall be provided with a copy thereof and be given an opportunity to comment thereon).

 

n. Indemnification.
In consideration of the Buyer’s execution and delivery of this Agreement and acquiring the Securities hereunder, and in
addition to all of the Company’s other obligations under this Agreement or the Note, the Company shall defend, protect,
indemnify and hold harmless the Buyer and its stockholders, partners, members, officers, directors, employees and direct or indirect
investors and any of the foregoing persons’ agents or other representatives (including, without limitation, those retained
in connection with the transactions contemplated by this Agreement) (collectively, the “Indemnitees”) from and against
any and all actions, causes of action, suits, claims, losses, costs, penalties, fees, liabilities and damages, and expenses in
connection therewith (irrespective of whether any such Indemnitee is a party to the action for which indemnification hereunder
is sought), and including reasonable attorneys’ fees and disbursements (the “Indemnified Liabilities”), incurred
by any Indemnitee as a result of, or arising out of, or relating to (a) any misrepresentation or breach of any representation
or warranty made by the Company in this Agreement or the Note or any other agreement, certificate, instrument or document contemplated
hereby or thereby, (b) any breach of any covenant, agreement or obligation of the Company contained in this Agreement or the Note
or any other agreement, certificate, instrument or document contemplated hereby or thereby or (c) any cause of action, suit or
claim brought or made against such Indemnitee by a third party (including for these purposes a derivative action brought on behalf
of the Company) and arising out of or resulting from (i) the execution, delivery, performance or enforcement of this Agreement
or the Note or any other agreement, certificate, instrument or document contemplated hereby or thereby, (ii) any transaction financed
or to be financed in whole or in part, directly or indirectly, with the proceeds of the issuance of the Securities, or (iii) the
status of the Buyer or holder of the Securities as an investor in the Company pursuant to the transactions contemplated by this
Agreement. To the extent that the foregoing undertaking by the Company may be unenforceable for any reason, the Company shall
make the maximum contribution to the payment and satisfaction of each of the Indemnified Liabilities that is permissible under
applicable law

 

[signature
page follows]

 

    25

     

    

 

IN
WITNESS WHEREOF, the undersigned Buyer and the Company have caused this Agreement to be duly executed as of the date first above
written.

 

C-BOND
SYSTEMS, INC.

 

	By:	 	 
	Name: 	Scott Silverman	 
	Title:	Chief Executive Officer	 

 

[                                                             ]

 

	By:	 	 
	Name: 	 	 
	Title:	 	 

 

AGGREGATE
SUBSCRIPTION AMOUNT:

 

	Aggregate Principal Amount of Note:	 	 	US$300,000.00	 
	 	 	 	 	 
	Aggregate Purchase Price:	 	 	US$300,000.00	 

  

 

26EX-10.66

 Exhibit 10.66 

Execution Version 

INCREMENTAL FACILITY AMENDMENT NO. 4, dated as of September 6, 2019 (this “Amendment”), to the Credit Agreement
dated as of October 27, 2014, among 1011778 B.C. UNLIMITED LIABILITY COMPANY, an unlimited liability company organized under the laws of British Columbia (the “Parent Borrower”), NEW RED FINANCE, INC., a Delaware corporation
(the “Subsidiary Borrower” and together with the Parent Borrower, the “Borrowers”), 1013421 B.C. UNLIMITED LIABILITY COMPANY, an unlimited liability company organized under the laws of British Columbia
(“Holdings”), the other Guarantors party hereto, JPMORGAN CHASE BANK, N.A. (“JPMCB”), as Administrative Agent, Collateral Agent and Swing Line Lender and each L/C Issuer and lender from time to time party thereto
(collectively, the “Lenders” and individually, a “Lender”) (as amended by Amendment No. 1, dated as of May 22, 2015, Amendment No. 2, dated as of February 17, 2017, Incremental Facility
Amendment, dated as of March 27, 2017, Incremental Facility Amendment No. 2, dated as of May 17, 2017, Incremental Facility Amendment No. 3 dated as of October 13, 2017, Amendment No. 3, dated October 2, 2018, and
as further amended, restated, modified and supplemented from time to time, the “Credit Agreement”); capitalized terms used and not otherwise defined herein shall have the meanings assigned to such terms in the Credit Agreement. 

WHEREAS, subject to the terms and conditions of the Credit Agreement, the Borrowers may obtain Incremental Revolving Credit Commitments and/or
Incremental Term Loans by entering into one or more Incremental Facility Amendments with Additional Lenders; 
 WHEREAS, pursuant to
Section 2.14(d) of the Credit Agreement, an Incremental Facility Amendment may, without the consent of any other Lenders, effect such amendments to any Loan Documents as may be necessary or appropriate, in the opinion of the Administrative
Agent, to effect the provisions of Section 2.14 of the Credit Agreement; 
 WHEREAS, JPMCB, Morgan Stanley Senior Funding, Inc.
(“MSSF”), Wells Fargo Securities, LLC (“WF Securities”), Barclays Bank PLC (“Barclays”) and Royal Bank of Canada (“RBC”) are acting as joint lead arrangers and joint bookrunners (in such
capacity, the “Incremental Amendment No. 4 Lead Arrangers”), MSSF, WF Securities, RBC and Barclays are acting as Co-Syndication Agents, and BofA Securities, Inc., Bank of
Montreal, Coöperatieve Rabobank U.A., New York Branch, HSBC Bank USA, National Association, MUFG Bank, Ltd, BNP Paribas, acting through its Canada Branch, Capital One, National Association, Citibank, N.A., Fifth Third Bank, Goldman Sachs Bank
USA, SunTrust Bank and The Bank of Nova Scotia are acting as Co-Documentation Agents in connection with the Incremental Revolving Credit Commitments provided pursuant to this Amendment (such Incremental
Revolving Credit Commitments, the “2019 Revolving Credit Commitments” and the 2019 Revolving Credit Commitments together with the extensions of credit thereunder, the “2019 Revolving Facility”) and the Incremental
Term Loans made pursuant to this Amendment (such Incremental Term Loans, the “Term A Loans”); 

 NOW, THEREFORE, in consideration of the premises contained herein and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows: 

Section 1.    2019 Revolving Credit Commitment, Term A Loans and Amendments to Credit Agreement. 

(a)    Each Lender listed on Exhibit A (each a “2019 Revolving Lender”) hereby commits to provide a
2019 Revolving Credit Commitment in the principal amount set forth opposite such 2019 Revolving Lender’s name on Exhibit A. The terms and conditions of the 2019 Revolving Credit Commitments (including with respect to participations in
Letters of Credit and Swing Line Loans) shall be identical to the terms and conditions applicable to the Revolving Credit Commitments in effect under the Credit Agreement in effect immediately prior to the Incremental Amendment No. 4 Closing
Date (as defined below) except as specifically set forth herein. All Letters of Credit outstanding under the Credit Agreement immediately prior to the Incremental Amendment No. 4 Closing Date shall be deemed to have been issued under the 2019
Revolving Facility on the Incremental Amendment No. 4 Closing Date. 
 (b)    Each Lender listed on Exhibit
B (each a “Term A Lender”) hereby commits to fund in Dollars a Term A Loan in the principal amount set forth opposite such Term A Lender’s name on Exhibit B in a single drawing on the Incremental Amendment No. 4
Closing Date on the terms and subject to the conditions set forth herein (such Term A Lender’s Commitment, a “Term A Commitment”). The Term A Loans shall be funded as an additional Class of term loans under the Credit
Agreement on the Incremental Amendment No. 4 Closing Date. 
 (c)    Notwithstanding the foregoing, for purposes of
the 2019 Revolving Credit Facility, the provisions set forth below shall apply to the 2019 Revolving Facility in lieu of the corresponding provisions set forth in the Credit Agreement immediately prior to the Incremental Amendment No. 4 Closing
Date, and the Credit Agreement is hereby deemed amended as of the Incremental Amendment No. 4 Closing Date as follows: 

(i)    Section 1.01 of the Credit Agreement is hereby amended by adding in the appropriate
alphabetic order the following new definitions: 
 “2019 Revolving Credit Commitment” has the meaning specified in the
definition of “Revolving Credit Commitment”. 
 “2019 Revolving Facility” means the 2019 Revolving Credit
Commitments and the extensions of credit made thereunder. 
 “Compliance Date” means the last day of any fiscal quarter of
the Parent Borrower (commencing with the last day of the first full fiscal quarter of the Parent Borrower commencing after the Incremental Amendment No. 4 Closing Date) if on such date (i) any Term A Loans or Term A Commitments are
outstanding and/or (ii) the sum of (x) Letters of Credit with an aggregate Outstanding Amount in excess of $50,000,000 (other than those Cash Collateralized in an amount equal to the Outstanding Amount thereof), (y) the Outstanding
Amount of Revolving Credit Loans and (z) the Outstanding Amount of Swing Line Loans exceeds 30.0% of the Revolving Credit Commitments as of such date. 

 “Incremental Amendment No. 4” means Incremental Facility
Amendment No. 4 to this Agreement, dated as of September 6, 2019, by and among the Borrowers, the other Loan Parties, the Administrative Agent, the Lenders party thereto and the other parties thereto.” 

“Incremental Amendment No. 4 Closing Date” has the meaning set forth in Incremental Amendment No. 4.

 “Required Pro Rata Lenders” means, as of any date of determination, Lenders having more than 50.0% of the sum of the
(a) aggregate of the Outstanding Amount of all Term A Loans, (b) unused Term A Commitments and (c) Revolving Credit Commitments (plus, after the termination of the Revolving Credit Commitments, the Revolving Credit Exposure);
provided that (i) the unused Term A Commitment of, the portion of the Outstanding Amount of Term A Loans held by, the Revolving Credit Commitment of and the Revolving Credit Exposure of any Defaulting Lender shall be excluded for all
purposes of making a determination of Required Pro Rata Lenders, (ii) the unused Term A Commitment of, the portion of the Outstanding Amount of Term A Loans held by, the Revolving Credit Commitment of and the Revolving Credit Exposure of any
Lenders that are Sponsor Affiliated Lenders (other than Affiliated Debt Funds) shall be excluded for all purposes of making a determination of Required Pro Rata Lenders and (iii) Affiliated Debt Funds may not, in the aggregate, account for more
than 49.9% of the amount necessary to establish that the Required Pro Rata Lenders have consented to an action, and the unused Term A Commitment of, the portion of the Outstanding Amount of Term A Loans held by, the Revolving Credit Commitment of
and the Revolving Credit Exposure of any Affiliated Debt Funds in excess of such amount shall be excluded for all purposes of making a determination of Required Pro Rata Lenders. 

“Springing Maturity Date” has the meaning specified in the definition of “Maturity Date”. 

“Term A Commitment” means with respect to each Term A Lender, its commitment to make a Term A Loan on the Incremental
Amendment No. 4 Closing Date in an amount set forth on Exhibit B to Incremental Amendment No. 4. The aggregate amount of Term A Commitments on the Incremental Amendment No. 4 Closing Date is $750,000,000. 

“Term A Lender” means the Persons identified as such on Exhibit B to Incremental Amendment No. 4 and their successors and
assigns. 
 “Term A Loans” shall have the meaning set forth in Section 2.01(c). 

 (ii)    Section 1.01 of the Credit Agreement is
hereby further amended by amending and restating clause (c) of the definition of “Applicable Rate” as follows: 

“(c) following the Incremental Amendment No. 4 Closing Date, (i) until delivery of financial statements and a related Compliance
Certificate for the first full fiscal quarter commencing on or after the Incremental Amendment No. 4 Closing Date pursuant to Section 6.01, (A) for Eurocurrency Rate Loans that are Revolving Credit Loans or Term A
Loans, 1.25 %, (B) for Base Rate Loans that are Revolving Credit Loans or Term A Loans, 0.25%, (C) for letter of credit fees, 1.25% per annum and (D) for Commitment Fees 0.15% and (ii) thereafter, in connection with Revolving Credit
Loans and Term A Loans, the percentages per annum set forth in the table below, based upon the First Lien Senior Secured Leverage Ratio as set forth in the most recent Compliance Certificate received by the Administrative Agent pursuant to
Section 6.02(a): 
 Applicable Rate 

 

											
	 Pricing

Level
	  	 First Lien Senior

Secured Leverage

Ratio
	  	 Letter
of Credit
Fees
	  	 Base Rate for
Revolving
Loans and

Term A Loans
	  	 Eurocurrency

Rate for Revolving
Loans and Term A
Loans
	  	 Commitment
Fees

	 I
	  	> 3.50x	  	1.50%	  	0.50%	  	1.50%	  	0.15%
	 II
	  	 £ 3.50x

but > 3.00x
	  	1.25%	  	0.25%	  	1.25%	  	0.15%
	 III
	  	 £ 3.00x

but > 2.00x
	  	1.00%	  	0.00%	  	1.00%	  	0.15%
	 IV
	  	£2.00x	  	0.75%	  	0.00%	  	0.75%	  	0.15%

 (iii)    Section 1.01 of the Credit Agreement is hereby further
amended by amending the definition of “Availability Period” to add the text “and with respect to the 2019 Revolving Facility, the period from the Incremental Amendment No. 4 Closing Date to the Maturity Date for the 2019
Revolving Facility” at the end thereof. 
 (iv)    Section 1.01 of the Credit Agreement is
hereby further amended by amending the definition of “Base Rate” to add the following clause (e): 

“(e)    in respect of Term A Loans and Revolving Loans, 1.00% per annum.” 

(v)    Section 1.01 of the Credit Agreement is hereby further amended by amending the definition of
“Class” to add the text “Term A Commitments,” immediately after “Revolving Credit Commitments” in clause (b) thereof and to add the text “Term A Loans,” immediately after “Revolving Credit
Loans” in clause (c) thereof. 
 (vi)    Section 1.01 of the Credit Agreement is hereby
further amended by amending and restating the definitions of “L/C Issuer” and “L/C Issuer Sublimit” as follows: 

“L/C Issuer” means (i) JPMCB or any of its Affiliates selected by JPMCB, (ii) Wells Fargo Bank, National Association
or any of its Affiliates selected by Wells Fargo Bank, National Association, (iii) solely for purposes of standby letters of 

 
credit, Morgan Stanley Bank, N.A. or any of its Affiliates selected by Morgan Stanley Bank, N.A., (iv) solely for purposes of standby letters of credit, Barclays Bank PLC or any of its Affiliates
selected by Barclays Bank PLC, (v) solely for purposes of standby letters of credit, Royal Bank of Canada or any of its Affiliates selected by Royal Bank of Canada and (vi) The Bank of Nova Scotia or any of its Affiliates selected by The Bank
of Nova Scotia and (vi) any other Lender (or any of its Affiliates) that becomes an L/C Issuer in accordance with Section 2.03(j) or Section 10.07(j); in the case of each of clause
(i) through (v) above, in its capacity as an issuer of Letters of Credit hereunder, or any successor issuer of Letters of Credit hereunder and, as the context requires, any Person that was an “L/C Issuer” prior to the
Incremental Amendment No. 4 Closing Date. 
 “L/C Issuer Sublimit” means (i) with respect to JPMCB,
$28,395,061.73, (ii) with respect to Morgan Stanley Bank, N.A., $28,395,061.73, (iii) with respect to Wells Fargo Bank, N.A., $21,296,296.30, (iv) with respect to Barclays Bank PLC, $18,456,790.12, (v) with respect to Royal Bank of Canada,
$18,456,790.12 and (vi) with respect to The Bank of Nova Scotia, $10,000,000 and (v) with respect to any other L/C Issuer, such amount as may be mutually agreed between the Parent Borrower and such L/C Issuer and notified in writing to the
Administrative Agent by such parties. 
 (vii)    Section 1.01 of the Credit Agreement is hereby
further amended by amending and restating clause (a) of the definition of “Maturity Date” as follows: 
 “(a) with
respect to (i) the 2019 Revolving Credit Commitments and the 2019 Revolving Credit Facility and (ii) the Term A Loans, the fifth anniversary of the Incremental Amendment No. 4 Closing Date; provided that if on any date (any
such date, the “Springing Maturity Date”) on or after November 17, 2023, more than an aggregate principal amount of $250 million of the Term B-3 Loans or the Borrowers’ 4.250%
First Lien Senior Secured Notes due 2024 (or any Permitted Refinancing of any of the foregoing) would mature within 91 days of such date, then the maturity of the 2019 Revolving Credit Commitments, 2019 Revolving Credit Facility and the Term A
Loans shall be the Springing Maturity Date,” 
 (viii)    Section 1.01 of the Credit
Agreement is hereby further amended by adding the following sentence at the end of the definition of “Revolving Credit Commitment”: 

“The initial aggregate amount of the Lenders’ Revolving Credit Commitments on the Incremental Amendment No. 4 Closing Date is
$1,000,000,000 (the “2019 Revolving Credit Commitment”).” 
 (ix)    Section
1.01 of the Credit Agreement is hereby further amended by amending the definition of “Revolving Credit Loan” to replace the reference to “Section 2.01(c)” with
“Section 2.01(d)”. 

 (x)    Section 1.01 of the Credit Agreement is
hereby further amended by amending the definition of “Term Commitments” to add in the text “Term A Commitment,” immediately prior to “Term B-1 Commitment”. 

(xi)    Section 1.01 of the Credit Agreement is hereby further amended by amending the definition of
“Term Lenders” to add in the text “Term A Lenders,” immediately prior to “the Term B-1 Lenders,”. 

(xii)    Section 1.01 of the Credit Agreement is hereby further amended by amending the definition
of “Term Loans” to add in the text “Term A Loans,” immediately prior to “the Term B-1 Loans,” 

(xiii)    Section 2.01 of the Credit Agreement is hereby amended by amending and restating clause
(c) thereof and adding a new clause (d) thereto as follows: 
 “(c)    The Term A Borrowing. Each
Term A Lender severally agrees to make to the Borrowers a single loan denominated in Dollars in a principal amount equal to such Term A Lender’s Term A Commitment on the Incremental Amendment No. 4 Closing Date (each a “Term A
Loan”). Amounts borrowed under this Section 2.01(c) and repaid or prepaid may not be reborrowed. Term A Loans may be Base Rate Loans or Eurocurrency Rate Loans, as further provided herein. 

(d)    The Revolving Credit Borrowings. Subject to the terms and conditions set forth herein, each Revolving Credit
Lender severally agrees to make (or cause its Applicable Lending Office to make) Revolving Credit Loans from time to time during the Availability Period in Dollars or in any Revolving Alternative Currency in an aggregate principal amount that will
not result in such Lender’s Revolving Credit Exposure exceeding such Lender’s Revolving Credit Commitment. Within the limits of each Lender’s Revolving Credit Commitment, and subject to the other terms and conditions hereof, the
Borrowers may borrow under this Section 2.01(d), prepay under Section 2.05, and reborrow under this Section 2.01(d). Revolving Credit Loans denominated in Dollars or
Canadian Dollars may be Base Rate Loans or Eurocurrency Rate Loans, and Revolving Credit Loans denominated in Euro shall be Eurocurrency Rate Loans, as further provided herein.” 

(xiv)    Section 2.05 of the Credit Agreement is hereby amended by inserting the text “the Term
A Loans and” between the text “shall be applied on a pro rata basis to” and “the Term B-3 Loans” in clause (b)(iv) thereof. 

(xv)    Section 2.06 of the Credit Agreement is hereby amended by amending and restating clause
(b) thereof as follows: 
 “(b)    Mandatory. The Term B-1
Commitment of each Term Lender shall be automatically and permanently reduced to $0 upon the making of such Term B-1 Lender’s Term Loans pursuant to Section 2.01(a). The
Additional Term B-3 

 
Commitment of each Term Lender shall be automatically and permanently reduced to $0 upon the earlier of (i) the making of such Term Lender’s Term
B-3 Loans pursuant to Section 2.01(b) and (ii) 5:00 p.m. on the Amendment No. 2 Effective Date. The Additional Incremental Term B-3
Commitment of each Term Lender shall be automatically and permanently reduced to $0 upon the making of such Term Lender’s Term B-3 Loans pursuant to Section 2.01(b). The Second
Additional Term B-3 Commitment of each Term Lender shall be automatically and permanently reduced to $0 upon the making of such Term Lender’s Term B-3 Loans
pursuant to Section 2.01(b).    The Term A Commitment of each Term A Lender shall be automatically and permanently reduced to $0 upon the making of such Term A Lender’s Term A Loans pursuant to
Section 2.01(c). The Revolving Credit Commitments shall terminate on the Maturity Date therefor. The Extended Revolving Credit Commitments and any Additional Revolving Credit Commitments shall terminate on the respective
maturity dates applicable thereto. Notwithstanding the foregoing, if (i) the Closing Date has not occurred at or prior to 11:59 p.m., New York City time, on May 26, 2015 or (ii) the Escrow Property is distributed to the Administrative
Agent pursuant to Section 3 of the Escrow Agreement, then all Commitments shall terminate at such time.” 

(xvi)    Section 2.07 of the Credit Agreement is hereby amended by amending and restating clause
(a) thereof as follows: 
 “Term Loans. The Borrowers shall repay to the Administrative Agent for (i) the ratable
account of the Term Lenders holding each Class of Term B-3 Loans in Dollars (A) on the last Business Day of each March, June, September and December, commencing with the second such date to occur
after the Amendment No. 2 Effective Date, an aggregate principal amount equal to 0.25% of the aggregate principal amount of the Term B-3 Loans funded or converted on the Amendment No. 2 Effective
Date; provided, that, such amount shall be increased on the Incremental Amendment No. 1 Effective Date in the same proportion as (x) the aggregate principal amount of the Term B-3 Loans (including
Initial Term B-3 Loans and Additional Term B-3 Loans) outstanding immediately following the funding of the Additional Incremental Term
B-3 Loans on the Incremental Amendment No. 1 Effective Date bears to (y) the amount of the Term B-3 Loans outstanding immediately prior to the funding of the
Additional Incremental Term B-3 Loans on the Incremental Amendment No. 1 Effective Date; provided, further that such amount shall be increased on the Incremental Amendment No. 2 Effective Date in the
same proportion as (I) the aggregate principal amount of the Term B-3 Loans (including the Initial Term B-3 Loans, the Additional Term B-3 Loans, the Additional Incremental Term B-3 Loans and the Second Additional Term B -3 Loans) outstanding immediately following the
funding of the Second Additional Term B-3 Loans on the Incremental Amendment No. 2 Effective Date bears to (II) the amount of the Term B-3 Loans outstanding
immediately prior to the funding of the Second Additional Term B-3 Loans on the Incremental Amendment No. 2 Effective Date and (B) on the Maturity Date for the Term
B-3 Loans, the aggregate principal amount of all Term B-3 Loans outstanding on such 

 
date and (ii) for the ratable account of the Term Lenders holding each class of Term A Loans in Dollars (i) on the last Business Date of each March, June, September and December,
(A) commencing with the last Business Day of March 2020 until the third anniversary of the Incremental Amendment No. 4 Closing Date, an aggregate principal amount equal to 0.625% of the aggregate principal of Term A Loans funded on the
Incremental Amendment No. 4 Closing Date and (B) thereafter, an aggregate principal amount equal to 1.25% of the aggregate principal of Term A Loans funded on the Incremental Amendment No. 4 Closing Date and (ii) on the Maturity
Date for the Term A Loans, the aggregate principal amount of all Term A Loans outstanding on such date; provided that payments required by Sections 2.07(a)(i)(A) and 2.07(a)(ii)(A) above shall be reduced as a result of the
application of prepayments in accordance with Section 2.05. In the event any Incremental Term Loans or Extended Term Loans are made, such Incremental Term Loans or Extended Term Loans, as applicable, shall be repaid by the
Borrowers in the amounts and on the dates set forth in the definitive documentation with respect thereto and on the applicable Maturity Date thereof.” 

(xvii)    Section 2.09 of the Credit Agreement is hereby amended by adding the following sentence at
the end of the clause (a) thereof: 
 “Notwithstanding anything herein to the contrary, the Commitment Fee for the 2019 Revolving
Facility shall accrue from the Incremental Amendment No. 4 Closing Date until the Maturity Date for the 2019 Revolving Facility.” 

(xviii)    Section 2.14(b)(iii) and Section 2.14(b)(iv) of the Credit
Agreement are each hereby amended and restated as follows: 
 “(iii) any Incremental Term Loan (other than a Refinancing Term Loan)
shall not have a final maturity date earlier than the Maturity Date applicable to the Term B-3 Loans, the Revolving Credit Commitments or the Term A Loans, unless (A) such Incremental Term Loans are an
increase in the amount of the Term B-3 Loans or (B) the amount of such Incremental Term Loans does not, at the time of incurrence, exceed the then remaining Earlier Maturing Basket Amount, (iv) any
Incremental Term Loan (other than a Refinancing Term Loan) shall not have a Weighted Average Life to Maturity that is shorter than the Weighted Average Life to Maturity of the Term B-3 Loans unless
(A) such Incremental Term Loans are an increase in the amount of the Term B-3 Loans or (B) the amount of such Incremental Term Loans does not, at the time of incurrence, exceed the then remaining
Earlier Maturing Basket Amount”. 
 (xix)    Section 2.15(a)(iii) of the Credit Agreement is
hereby amended by adding the text “, Term A Loans” immediately following the words “Term B-3 Loans” appearing in such clause. 

(xx)    Section 2.16(b) of the Credit Agreement is hereby amended by adding the text “, the
Required Pro Rata Lenders” prior to “the Required Revolving Credit Lenders”; 

 (xxi)    Section 5.17 of the Credit Agreement is
hereby amended by adding the following new sentence at the end of such Section: 
 “The proceeds of the Term A Loans will be used solely
to (i) fund a portion of the redemption of the New Senior Secured Notes, (ii) refinance the Term B-3 Loans and/or (iii) to pay fees and expenses in connection with the transactions contemplated
by Incremental Amendment No. 4.” 
 (xxii)    Section 7.03(r) of the Credit Agreement is
hereby amended by amending and restating clauses (1) and (2) thereof as follows: 
 “(1) unless (A) such Indebtedness is an
increase in the amount of the New Senior Secured Notes or (B) the amount of such Indebtedness at the time of incurrence thereof does not exceed the Earlier Maturing Basket Amount at such time, such Indebtedness shall not mature prior to the
date that is 91 days after the Maturity Date of the Term B-3 Loans, the Term A Loans or the Revolving Credit Commitments or have a Weighted Average Life to Maturity less than the Weighted Average Life to
Maturity of the Term B-3 Loans, the Term A Loans or the Revolving Credit Commitments plus 91 days, (2) such Indebtedness shall not have mandatory prepayment, redemption or offer to purchase events more
onerous than those applicable to the Term B-3 Loans, the Term A Loans or the Revolving Credit Commitments,” 

(xxiii)    Section 7.03(t) of the Credit Agreement is hereby amended by amending and restating
clauses (A) and (B) thereof as follows: 
 “(A) unless (1) such Indebtedness is an increase in the amount of the New Senior
Secured Notes or (2) the amount of such Indebtedness at the time of incurrence thereof does not exceed the Earlier Maturing Basket Amount at such time, such Indebtedness shall not mature earlier than the Maturity Date applicable to the Term B-3 Loans, the Term A Loans or the Revolving Credit Commitments, (B) unless (1) such Indebtedness is an increase in the amount of the New Senior Secured Notes or (2) the amount of such Indebtedness at the
time of incurrence thereof does not exceed the Earlier Maturing Basket Amount at such time, as of the date of the incurrence of such Indebtedness, the Weighted Average Life to Maturity of such Indebtedness shall not be shorter than that of the Term B-3 Loans, the Term A Loans or the Revolving Credit Commitments,” 

(xxiv)    Section 7.09 of the Credit Agreement is hereby amended and restated as follows: 

“Except with the written consent of the Required Pro Rata Lenders, permit the First Lien Senior Secured Leverage Ratio as of any
Compliance Date to be greater than 6.50:1.00. 

 (xxv)    Section 8.01(b)(ii) of the Credit
Agreement is hereby amended by amending and restating the second proviso thereto as follows: 
 “provided further that an
Event of Default under Section 7.09 shall not constitute an Event of Default for purposes of any Term Loans (other than Term A Loans) unless and until the Required Pro Rata Lenders have actually terminated the Revolving
Credit Commitments and any Term A Commitments and/or declared all outstanding obligations under the Revolving Credit Facility and all Term A Loans to be immediately due and payable in accordance with this Agreement. 

(xxvi)    Section 8.02 of the Credit Agreement is hereby amended by amending and restating clause
(b) thereof as follows: 
 “(b)    Subject to the first proviso in
Section 8.01(b)(ii), if any Event of Default under Section 8.01(b)(ii) occurs and is continuing, the Administrative Agent may and, at the request of the Required Pro Rata Lenders, shall take any or
all of the following actions: 
 (i) declare the commitment of each Lender to make Revolving Credit Loans, Swing Line Loans and Term A
Loans, and any obligation of the L/C Issuers to make L/C Credit Extensions, to be terminated, whereupon such commitments and obligation shall be terminated; 

(ii) declare the unpaid principal amount of all outstanding Revolving Credit Loans, Swing Line Loans and Term A Loans, all interest accrued
and unpaid thereon, and all other amounts owing or payable hereunder or under any other Loan Document under or in respect of the Revolving Credit Facility and the Term A Loans to be immediately due and payable, without presentment, demand, protest
or other notice of any kind, all of which are hereby expressly waived by the Borrowers; 
 (iii) require that the Borrowers Cash
Collateralize the L/C Obligations (in an amount equal to the then Outstanding Amount thereof); and 
 (iv) exercise on behalf of itself, the
Revolving Credit Lenders and the Term A Lenders all rights and remedies available to it, the Revolving Credit Lenders and the Term A Lenders under the Loan Documents or applicable Laws, in each case under or in respect of the Revolving Credit
Facility and the Term A Loans.” 
 (xxvii)    Section 10.01(d) of the Credit Agreement is
hereby amended by inserting “Required Pro Rata Lenders” immediately following the reference to “Required Revolving Credit Lenders” appearing therein. 

(xxviii)    Section 10.01 of the Credit Agreement is hereby amended by replacing each reference to
“Required Revolving Credit Lenders” in the final proviso in the first paragraph thereof with “Required Pro Rata Lenders”. 

 (xxix)    Section 10.07(b)(i)(A) of the Credit
Agreement is hereby amended and restated in its entirety as follows: 
 “(A)    the Parent Borrower, provided
that, no consent of the Parent Borrower shall be required for an assignment (1) of any Term B-3 Loan to any other Lender, any Affiliate of a Lender or any Approved Fund, (2) any Term A Loan to any
other Term A Lender or Revolving Credit Lender, or any Affiliate or Approved Fund of a Term A Lender or Revolving Credit Lender (provided, however, that any assignment of Term A Loans that would result in the Assignee (together with
its identifiable Affiliates or Approved Funds) holding greater than 15.0% of either (x) the Outstanding Amount of all Term A Loans or (y) the sum of (i) the Outstanding Amount of all Term A Loans, (ii) unused Term A Commitments
and (iii) Revolving Credit Commitments (plus, after the termination of the Revolving Credit Commitments, the Revolving Credit Exposure) shall require the consent of the Parent Borrower; provided, further, that any assignment of
Term A Loans to any other Term A Lender or Revolving Credit Lender, or any Affiliate or Approved Fund of a Term A Lender or Revolving Credit Lender, not purporting to require the consent of the Parent Borrower pursuant to the immediately preceding
proviso shall include in the Assignment and Assumption for such assignment a representation (which may be relied upon conclusively by, and without any further investigation by, the Administrative Agent) from the Assignee that such Assignee and its
Affiliates and Approved Funds do not hold, after giving effect to such assignment, greater than 15.0% of either (x) the Outstanding Amount of all Term A Loans or (y) the sum of (i) the Outstanding Amount of all Term A Loans and
(iii) Revolving Credit Commitments (or, after the termination of the Revolving Credit Commitments, the Revolving Credit Exposure)), and (3) of any Term Loan, Revolving Credit Loan or Revolving Credit Commitment, if an Event of Default
under Section 8.01(a), (f) or (g) (in the case of Section 8.01(f) or (g), with respect to the Parent Borrower) has occurred and is continuing, to any Assignee; provided,
further, that with respect to an assignment of Term Loans, such consent shall be deemed to have been given if the Parent Borrower has not responded within 10 Business Days after notice by the Administrative Agent;” 

Section 2.    Representations and Warranties. The Borrowers hereby represent and warrant that as of the
Incremental Amendment No. 4 Closing Date, after giving effect to this Amendment, (i) no Default or Event of Default has occurred and is continuing and (ii) the representations and warranties of the Borrowers and each other Loan Party
contained in the Credit Agreement or in the other Loan Documents are true and correct in all material respects with the same effect as though such representations and warranties had been made on and as of the date hereof; provided that, to
the extent that such representations and warranties specifically refer to an earlier date, such representations and warranties were true and correct in all material respects as of such earlier date; provided, further, that any
representation and warranty that is qualified as to “materiality,” “Material Adverse Effect” or similar language shall be true and correct (after giving effect to any qualification therein) in all respects on such respective
dates. 

 Section 3.    Effectiveness. This Amendment shall
become effective on the date the Administrative Agent shall have received executed signature pages hereto from each Loan Party, each Swing Line Lender, each L/C Issuer, each 2019 Revolving Lender listed on Exhibit A, and each Term A Lender
listed on Exhibit B; provided that the commitments of the 2019 Revolving Lenders and Term A Lenders hereunder shall terminate if the date (such date, the “Incremental Amendment No. 4 Closing Date”)
that the following conditions have been satisfied has not occurred on or prior to October 14, 2019: 

(i)    Fees. The Administrative Agent shall have received for the account of the 2019 Revolving
Lenders and the Term A Lenders, the upfront fees separately agreed among the Amendment No. 4 Lead Arrangers and the Parent Borrower, and all reasonable and documented
out-of-pocket expenses required to be paid or reimbursed under Section 10.04 of the Credit Agreement for which invoices have been presented a reasonable period of
time prior to the Incremental Amendment No. 4 Closing Date; 
 (ii)    Legal Opinions. The
Administrative Agent shall have received favorable legal opinions from each of (A) Kirkland & Ellis LLP, New York counsel to the Loan Parties and (B) Stikeman Elliott LLP, British Columbia counsel to the Loan Parties, covering
such matters as the Administrative Agent may reasonably request and otherwise reasonably satisfactory to the Administrative Agent; 

(iii)    “Know Your Customer” Information. The Administrative Agent and the 2019 Revolving
Lenders shall have received at least 2 Business Days prior to the Incremental Amendment No. 4 Closing Date all documentation and other information about the Borrowers and the Guarantors as has been reasonably requested in writing at least 10
Business Days prior to the Incremental Amendment No. 4 Closing Date by the Administrative Agent, the Term A Lenders or the 2019 Revolving Lenders that they reasonably determine is required by regulatory authorities under applicable “know
your customer” and anti-money laundering rules and regulations, including without limitation the PATRIOT Act and 31 C.F.R. § 1010.230; 

(iv)    Officer’s Certificate. The Administrative Agent shall have received a certificate of a
Responsible Officer of the Borrowers dated the Incremental Amendment No. 4 Closing Date certifying that, after giving effect to the Amendment, (a) the representations and warranties of the Borrowers and each other Loan Party contained in
the Credit Agreement or in the other Loan Documents are true and correct in all material respects with the same effect as though such representations and warranties had been made on and as of the Incremental Amendment No. 4 Closing Date;
provided that, to the extent that such representations and warranties specifically refer to an earlier date, such representations and warranties were true and correct in all material respects as of such earlier date; provided, further, that
any representation and warranty that is qualified as to “materiality,” “Material Adverse Effect” or similar language shall be true and correct (after giving effect to any qualification therein) in all respects on such respective
dates and (b) no Default or Event of Default shall have occurred and be continuing; 

(v)    Closing Certificates. The Administrative Agent shall have received (i) a copy of the
Organization Documents, as in effect as of the date hereof, of each Loan Party, certified, if applicable, as of a recent date by the Secretary of State or similar Governmental Authority of the state or jurisdiction of its organization, and a
certificate as 

 
to the good standing (where relevant) of each Loan Party as of a recent date, from such Secretary of State or similar Governmental Authority (or a certification from such Loan Party that there
have been no changes to the Organization Documents of such Loan Party since October 2, 2018); 

(vi)    Solvency Certificate. The Administrative Agent shall have received a certificate attesting
to the Solvency of the Parent Borrower and its Subsidiaries (on a consolidated basis) on the Incremental Amendment No. 4 Closing Date after giving effect to the establishment of the 2019 Revolving Facility, the incurrence of the Term A Loans
and the payment of all the fees and expenses in connection therewith, from the Parent Borrower’s chief financial officer or other officer with equivalent duties; 

(vii)    Committed Loan Notice. The Administrative Agent shall have received a Committed Loan Notice
in respect of the Term A Loans as required by Section 2.02 of the Credit Agreement; 

(viii)    Notice of Termination. At least three (3) Business Days prior to the Incremental
Amendment No. 4 Closing Date, the Administrative Agent shall have received an executed notice of termination in respect of the Revolving Credit Commitments in effect immediately prior to the Incremental Amendment No. 4 Closing Date and on
the Incremental Amendment No. 4 Closing Date, shall have received payment of all outstanding principal, interest and fees (other than L/C Issuer fees) in connection with the existing Revolving Credit Facility; and 

(ix)    Redemption of New Senior Secured Notes. The Administrative Agent shall be satisfied that
substantially concurrently with the funding of the Term A Loans, the Borrower shall be obligated to (a) redeem (or deposit with the applicable trustee funds for the redemption of) the New Senior Secured Notes in accordance with the terms of the
indenture governing the New Senior Secured Notes and/or (b) refinance the Term B-3 Loans, in an aggregate principal amount not less than $500,000,000. 

Section 4.    Counterparts. This Amendment may be executed in any number of counterparts and by
different parties hereto on separate counterparts, each of which when so executed and delivered shall be deemed to be an original, but all of which when taken together shall constitute a single instrument. Delivery of an executed counterpart of a
signature page of this Amendment by facsimile or any other electronic transmission shall be effective as delivery of an original executed counterpart hereof. 

Section 5.    Headings. The headings of this Amendment are for purposes of reference only and shall not
limit or otherwise affect the meaning hereof. 
 Section 6.    Effect of Amendment. This Amendment
shall constitute an “Incremental Facility Amendment” for all purposes of the Credit Agreement and the other Loan Documents, the 2019 Revolving Credit Commitments shall constitute “Additional Revolving Credit Commitments” and the
Term A Loans shall constitute “Incremental Term Loans” and “Term Loans” for all purposes of the Credit Agreement and the other Loan Documents. Except as expressly set forth herein, (i) 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 Collateral Agent, in each case under the Credit Agreement or any other
Loan Document, and (ii) shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Loan Document. Except as expressly set forth herein,
each and every term, condition, obligation, covenant and agreement contained in the Credit Agreement or any other Loan Document is hereby ratified and re-affirmed in all respects and shall continue in full
force and effect and each Loan Party reaffirms its obligations under the Loan Documents to which it is party and the grant of its Liens on the Collateral made by it pursuant to the Collateral Documents. Without limiting the generality of the
foregoing, the Collateral Documents and all of the Collateral described therein do and shall continue to secure the payment of all Obligations of the Loan Parties under the Credit Agreement and the other Loan Documents, in each case, as amended by
this Amendment. This Amendment shall constitute a Loan Document for purposes of the Credit Agreement, including without limitation for purposes of Sections 10.14, 10.15 and 10.17 thereof, and from and after the Incremental Amendment No. 4
Closing Date, all references to the Credit Agreement in any Loan Document and all references in the Credit Agreement to “this Agreement,” “hereunder,” “hereof” or words of like import referring to the Credit Agreement,
shall, unless expressly provided otherwise, refer to the Credit Agreement as amended by this Amendment. Each of the Loan Parties hereby consents to this Amendment and confirms that all obligations of such Loan Party under the Loan Documents to which
such Loan Party is a party shall continue to apply to the Credit Agreement as amended hereby. The Amendment No. 4 Lead Arrangers shall be entitled to all rights, privileges and immunities provided to the “Lead Arrangers” in the Credit
Agreement and the other Loan Documents. 
 Section 7.    No Novation. This Amendment shall not
constitute a novation of the Credit Agreement or any other Loan Document. 

 
			
	BLUE HOLDCO 1, LLC
	BLUE HOLDCO 2, LLC
	SBFD HOLDING CO.
	TIM HORTONS USA INC.
	TIM HORTONS (NEW ENGLAND), INC.
	 TIM DONUT U.S. LIMITED, INC.

1014369 B.C. UNLIMITED LIABILITY COMPANY
 1019334 B.C. UNLIMITED
LIABILITY COMPANY

	GRANGE CASTLE HOLDINGS LIMITED,
	GPAIR LIMITED
	THE TDL GROUP CORP./GROUPE TDL CORPORATION
	 BURGER KING CANADA HOLDINGS INC./PLACEMENTS BURGER KING CANADA INC.

1024670 B.C. UNLIMITED LIABILITY COMPANY
 1028539 B.C. UNLIMITED
LIABILITY COMPANY
 1029261 B.C. UNLIMITED LIABILITY COMPANY

1057837 B.C. UNLIMITED LIABILITY COMPANY
 1057772 B.C. UNLIMITED
LIABILITY COMPANY
 1057639 B.C. UNLIMITED LIABILITY COMPANY

	TDLDD HOLDINGS ULC
	TDLRR HOLDINGS ULC
	BK CANADA SERVICE ULC
	RESTAURANT BRANDS HOLDINGS CORPORATION
	TIM HORTONS CANADIAN IP HOLDINGS CORPORATION
	PLK ENTERPRISES OF CANADA, INC.
	 POPEYES LOUISIANA KITCHEN, INC.

1112097 B.C. UNLIMITED LIABILITY COMPANY,
 each as a
Guarantor

		
	By:	 	 /s/ Flavio Montini

	Name:	 	Flavio Montini
	Title:	 	Treasurer

  
 [Signature Page to
Incremental Facility Amendment No. 4] 

 
			
	 1112104 B.C. UNLIMITED LIABILITY COMPANY

1112106 B.C. UNLIMITED LIABILITY COMPANY
 1112090 B.C. UNLIMITED
LIABILITY COMPANY
 1112100 B.C. UNLIMITED LIABILITY COMPANY

	BC12SUB-ORANGE HOLDINGS ULC
	SBFD SUBCO ULC
	LAX HOLDINGS ULC
	ORANGE GROUP INTERNATIONAL, INC.
	BLUE HOLDCO AKA8, LLC
	BLUE HOLDCO AKA7, LLC
	RB TIMBIT HOLDINGS ULC
	RB OCS HOLDINGS ULC
	RB CRISPY CHICKEN HOLDINGS ULC
	PBB HOLDINGS ULC
	ZN1 HOLDINGS ULC
	ZN2 HOLDINGS ULC
	ZN3 HOLDINGS ULC
	ZN4 HOLDINGS ULC
	ZN5 HOLDINGS ULC
	ZN6 HOLDINGS ULC
	ZN7 HOLDINGS ULC
	ZN8 HOLDINGS ULC
	ZN9 HOLDINGS ULC
	 ZN19TDL HOLDINGS ULC
 12-2019 HOLDINGS ULC
 12ZZ HOLDINGS ULC

	 RBHZZ HOLDINGS ULC
 12KR HOLDINGS
ULC
 12KRR HOLDINGS ULC

	KR1 HOLDINGS ULC
	KR2 HOLDINGS ULC
	KR3 HOLDINGS ULC
	KR4 HOLDINGS ULC
	KR5 HOLDINGS ULC
	 KR6 HOLDINGS ULC,
 each as a
Guarantor

		
	By:	 	 /s/ Flavio Montini

	Name:	 	Flavio Montini
	Title:	 	Treasurer

  
 [Signature Page to
Incremental Facility Amendment No. 4] 

 
			
	KR7 HOLDINGS ULC
	KR8 HOLDINGS ULC
	KR9 HOLDINGS ULC
	KR19TDL HOLDINGS ULC,
	BK ACQUISITION, INC.
	BURGER KING CORPORATION
	ORANGE INTERMEDIATE, LLC
	ORANGE GROUP, INC.
	LLCXOX, LLC
	BLUE HOLDCO 3, LLC
	BLUE HOLDCO 440, LLC
	RESTAURANT BRANDS INTERNATIONAL US SERVICES LLC
	BCP-SUB, LLC
	SBFD, LLC
	SBFD BETA, LLC
	LLC-QZ, LLC
	LLC-K4, LLC
	LLC-QQ, LLC
	BK WHOPPER BAR, LLC
	BURGER KING CAPITAL FINANCE, INC.
	BURGER KING HOLDINGS, INC.
	BURGER KING INTERAMERICA, LLC
	 BURGER KING WORLDWIDE, INC.,
 each
as a Guarantor

		
	By:	 	 /s/ Flavio Montini

	Name:	 	Flavio Montini
	Title:	 	Treasurer
	
	SOCIÉTÉ EN COMMANDITE BC12/ BC12 LIMITED PARTNERSHIP, as a Guarantor
	By: 12-2019 Holdings ULC, its general partner
		
	By:	 	 /s/ Flavio Montini

	Name:	 	Flavio Montini
	Title:	 	Treasurer

  
 [Signature Page to
Incremental Facility Amendment No. 4] 

 
			
	SOCIÉTÉ EN COMMANDITE BC12P/ BC12P LIMITED PARTNERSHIP, as a Guarantor
	
	By: KR19TDL Holdings ULC, its general partner
		
	By:	 	 /s/ Flavio Montini

	Name:	 	Flavio Montini
	Title:	 	Treasurer
	
	SOCIÉTÉ EN COMMANDITE TARTE 3/ PIE 3 LIMITED PARTNERSHIP, as a Guarantor
	By: 1011778 B.C. Unlimited Liability Company, its general partner
		
	By:	 	 /s/ Flavio Montini

	Name:	 	Flavio Montini
	Title:	 	Treasurer
	
	SOCIÉTÉ EN COMMANDITE TARTE 4/ PIE 4 LIMITED PARTNERSHIP, as a Guarantor
	By: 1011778 B.C. Unlimited Liability Company, its general partner
		
	By:	 	 /s/ Flavio Montini

	Name:	 	Flavio Montini
	Title:	 	Treasurer
	
	SOCIÉTÉ EN COMMANDITE P2019/ P2019 LIMITED PARTNERSHIP, as a Guarantor
	By: ZN19TDL HOLDINGS ULC, its general partner
	By: ZN1 HOLDINGS ULC, its general partner
		
	By:	 	 /s/ Flavio Montini

	Name:	 	Flavio Montini
	Title:	 	Treasurer

  
 [Signature Page to
Incremental Facility Amendment No. 4] 

 
			
	JPMORGAN CHASE BANK, N.A., as Administrative Agent, Swing Line Lender, L/C Issuer, Term A Lender and 2019 Revolving Lender
		
	By:	 	 /s/ Tony Yung

	Name:	 	Tony Yung
	Title:	 	Executive Director

  
 [RBI - Signature Page to
Incremental Facility Amendment No. 4] 

 
			
	MORGAN STANLEY BANK, N.A.,
as 2019 Revolving Lender
		
	By:	 	 /s/ Michael King

	Name:	 	Michael King
	Title:	 	Authorized Signatory

  
 [RBI - Signature Page to
Incremental Facility Amendment No. 4] 

 
			
	MORGAN STANLEY BANK, N.A.,
as Term A Lender
		
	By:	 	 /s/ Michael King

	Name:	 	Michael King
	Title:	 	Authorized Signatory

  
 [RBI - Signature Page to
Incremental Facility Amendment No. 4] 

 
			
	MORGAN STANLEY BANK, N.A.,
as L/C Issuer
		
	By:	 	 /s/ Michael King

	Name:	 	Michael King
	Title:	 	Authorized Signatory

  
 [RBI - Signature Page to
Incremental Facility Amendment No. 4] 

 
			
	Wells Fargo Bank, National Association,
as Term A Lender
		
	By:	 	 /s/ Darcy McLaren

	Name:	 	Darcy McLaren
	Title:	 	Director

  
 [RBI - Signature Page to
Incremental Facility Amendment No. 4] 

 
			
	Wells Fargo Bank, National Association,
as 2019 Revolving Lender
		
	By:	 	 /s/ Darcy McLaren

	Name:	 	Darcy McLaren
	Title:	 	Director

  
 [RBI - Signature Page to
Incremental Facility Amendment No. 4] 

 
			
	Wells Fargo Bank, National Association,
as L/C Issuer
		
	By:	 	 /s/ Darcy McLaren

	Name:	 	Darcy McLaren
	Title:	 	Director

  
 [RBI - Signature Page to
Incremental Facility Amendment No. 4] 

 
			
	Royal Bank of Canada,
as 2019 Revolving Lender
		
	By:	 	 /s/ John Flores

	Name:	 	John Flores 
	Title:	 	Authorized Signatory

  
 [RBI - Signature Page to
Incremental Facility Amendment No. 4] 

 
			
	Royal Bank of Canada,
as L/C Issuer
		
	By:	 	 /s/ John Flores

	Name:	 	John Flores
	Title:	 	Authorized Signatory

  
 [RBI - Signature Page to
Incremental Facility Amendment No. 4] 

 
			
	BARCLAYS BANK PLC,
as 2019 Revolving Lender
		
	By:	 	 /s/ Ritam Bhalla

	Name:	 	Ritam Bhalla
	Title:	 	Director

  
 [RBI - Signature Page to
Incremental Facility Amendment No. 4] 

 
			
	BARCLAYS BANK PLC,
as Term A Lender
		
	By:	 	 /s/ Ritam Bhalla

	Name:	 	Ritam Bhalla
	Title:	 	Director

  
 [RBI - Signature Page to
Incremental Facility Amendment No. 4] 

 
			
	BARCLAYS BANK PLC,
as L/C Issuer
		
	By:	 	 /s/ Ritam Bhalla

	Name:	 	Ritam Bhalla
	Title:	 	Director

  
 [RBI - Signature Page to
Incremental Facility Amendment No. 4] 

 
			
	Bank of America, N.A.,
as 2019 Revolving Lender
		
	By:	 	 /s/ Anthony Luppino

	Name:	 	Anthony Luppino
	Title:	 	Senior Vice President

  
 [RBI - Signature Page to
Incremental Facility Amendment No. 4] 

 
			
	Bank of America, N.A.,
as Term A Lender
		
	By:	 	 /s/ Anthony Luppino

	Name:	 	Anthony Luppino
	Title:	 	Senior Vice President

  
 [RBI - Signature Page to
Incremental Facility Amendment No. 4] 

 
			
	COÖPERATIEVE RABOBANK U.A., NEW YORK BRANCH,
as 2019 Revolving Lender
		
	By:	 	 /s/ Olivia Leong

	Name:	 	Olivia Leong
	Title:	 	Executive Director
		
	By:	 	 /s/ Floris Rooljmans

	Name:	 	Floris Rooljmans
	Title:	 	Vice President

  
 [RBI - Signature Page to
Incremental Facility Amendment No. 4] 

 
			
	COÖPERATIEVE RABOBANK U.A., NEW YORK BRANCH,
as Term A Lender
		
	By:	 	 /s/ Olivia Leong

	Name:	 	Olivia Leong
	Title:	 	Executive Director
		
	By:	 	 /s/ Floris Rooljmans

	Name:	 	Floris Rooljmans
	Title:	 	Vice President

  
 [RBI - Signature Page to
Incremental Facility Amendment No. 4] 

 
			
	HSBC Bank USA, National Association,
as 2019 Revolving Lender
		
	By:	 	 /s/ Rafael De Paoli

	Name:	 	Rafael De Paoli
	Title:	 	Managing Director

  
 [RBI - Signature Page to
Incremental Facility Amendment No. 4] 

 
			
	HSBC Bank USA, National Association,
as Term A Lender
		
	By:	 	 /s/ Rafael De Paoli

	Name:	 	Rafael De Paoli
	Title:	 	Managing Director

  
 [RBI - Signature Page to
Incremental Facility Amendment No. 4] 

 
			
	MUFG Bank, Ltd.,
as Term A Lender
		
	By:	 	 /s/ Christine Howatt

	Name:	 	Christine Howatt
	Title:	 	Authorized Signatory

  
 [RBI - Signature Page to
Incremental Facility Amendment No. 4] 

 
			
	MUFG Bank, Ltd.,
as 2019 Revolving Lender
		
	By:	 	 /s/ Christine Howatt

	Name:	 	Christine Howatt
	Title:	 	Authorized Signatory

  
 [RBI - Signature Page to
Incremental Facility Amendment No. 4] 

 
			
	Bank of Montreal,
as 2019 Revolving Lender
		
	By:	 	 /s/ Katie Robinson

	Name:	 	Katie Robinson
	Title:	 	Director
	
	Bank of Montreal,
as Term A Lender
		
	By:	 	 /s/ Katie Robinson

	Name:	 	Katie Robinson
	Title:	 	Director

  
 [RBI - Signature Page to
Incremental Facility Amendment No. 4] 

 
			
	Bank of Montreal,
as 2019 Revolving Lender
		
	By:	 	 /s/ Sean Gallaway

	Name:	 	Sean Gallaway
	Title:	 	Director
	
	Bank of Montreal,
as Term A Lender
		
	By:	 	 /s/ Sean Gallaway

	Name:	 	Sean Gallaway
	Title:	 	Director

  
 [RBI - Signature Page to
Incremental Facility Amendment No. 4] 

 
			
	Fifth Third Bank,
as Term A Lender
		
	By:	 	 /s/ Robert Klinko

	Name:	 	Robert Klinko
	Title:	 	SVP

  
 [RBI - Signature Page to
Incremental Facility Amendment No. 4] 

 
			
	Fifth Third Bank,
as 2019 Revolving Lender
		
	By:	 	 /s/ Robert Klinko

	Name:	 	Robert Klinko
	Title:	 	SVP

  
 [RBI - Signature Page to
Incremental Facility Amendment No. 4] 

 
			
	The Bank of Nova Scotia,
as 2019 Revolving Lender
		
	By:	 	 /s/ Steve Holyman

	Name:	 	Steve Holyman
	Title:	 	Managing Director
		
	By:	 	 /s/ Andrew Morales

	Name:	 	Andrew Morales
	Title:	 	Associate Director

  
 [RBI - Signature Page to
Incremental Facility Amendment No. 4] 

 
			
	The Bank of Nova Scotia,
as Term A Lender
		
	By:	 	 /s/ Steve Holyman

	Name:	 	Steve Holyman
	Title:	 	Managing Director
		
	By:	 	 /s/ Andrew Morales

	Name:	 	Andrew Morales
	Title:	 	Associate Director

  
 [RBI - Signature Page to
Incremental Facility Amendment No. 4] 

 
			
	The Bank of Nova Scotia,
as L/C Issuer
		
	By:	 	 /s/ Steve Holyman

	Name:	 	Steve Holyman
	Title:	 	Managing Director
		
	By:	 	 /s/ Andrew Morales

	Name:	 	Andrew Morales
	Title:	 	Associate Director

  
 [RBI - Signature Page to
Incremental Facility Amendment No. 4] 

 
			
	 GOLDMAN SACHS BANK USA,

as 2019 Revolving Lender

		
	By:	 	 /s/ Annie Carr

	 Name:
	 	 Annie Carr

	 Title:
	 	 Authorized Signatory

  
 [RBI - Signature Page to
Incremental Facility Amendment No. 4] 

 
			
	 GOLDMAN SACHS BANK USA,
 as Term A
Lender

		
	By:	 	 /s/ Annie Carr

	Name:	 	Annie Carr
	Title:	 	Authorized Signatory

  
 [RBI - Signature Page to
Incremental Facility Amendment No. 4] 

 
			
	 BNP Paribas, acting through its Canada branch,

as 2019 Revolving Lender

		
	By:	 	 /s/ Zainuddin Ahmed

	Name:	 	Zainuddin Ahmed
	Title:	 	Director
		
	By:	 	 /s/ Mary Lou

	Name:	 	Mary Lou
	Title:	 	Vice President

  
 [RBI - Signature Page to
Incremental Facility Amendment No. 4] 

 
			
	 BNP Paribas, acting through its Canada branch,

as Term A Lender

		
	By:	 	 /s/ Zainuddin Ahmed

	Name:	 	Zainuddin Ahmed
	Title:	 	Director
		
	By:	 	 /s/ Mary Lou

	Name:	 	Mary Lou
	Title:	 	Vice President

  
 [RBI - Signature Page to
Incremental Facility Amendment No. 4] 

 
			
	 SUNTRUST BANK,
 as 2019 Revolving
Lender

		
	By:	 	 /s/ Will Miller

	Name:	 	Will Miller
	Title:	 	Vice President

  
 [RBI - Signature Page to
Incremental Facility Amendment No. 4] 

 
			
	 SUNTRUST BANK,
 as Term A
Lender

		
	By:	 	 /s/ Will Miller

	Name:	 	Will Miller
	Title:	 	Vice President

  
 [RBI - Signature Page to
Incremental Facility Amendment No. 4] 

 
			
	 Citibank, N.A.,
 as 2019 Revolving
Lender

		
	By:	 	 /s/ Robert J. Kane

	Name:	 	Robert J. Kane
	Title:	 	Managing Director

  
 [RBI - Signature Page to
Incremental Facility Amendment No. 4] 

 
			
	 Citibank, N.A.,
 as Term A
Lender

		
	By:	 	 /s/ Robert J. Kane

	Name:	 	Robert J. Kane
	Title:	 	Managing Director

  
 [RBI - Signature Page to
Incremental Facility Amendment No. 4] 

 
			
	 Capital One, N.A.,
 as 2019
Revolving Lender

		
	By:	 	 /s/ Richard O’Neill

	Name:	 	Richard O’Neill
	Title:	 	Managing Director

  
 [RBI - Signature Page to
Incremental Facility Amendment No. 4] 

 
			
	 Capital One, N.A.,
 as Term A
Lender

		
	By:	 	 /s/ Richard O’Neill

	Name:	 	Richard O’Neill
	Title:	 	Managing Director

  
 [RBI - Signature Page to
Incremental Facility Amendment No. 4] 

 EXHIBIT A 

TO INCREMENTAL FACILITY AMENDMENT NO. 4 
  

					
	 2019 Revolving Lender
	  	2019 Revolving Credit Commitment	 
	 Royal Bank of Canada
	  	$	130,000,000.00	 
	 JPMorgan Chase Bank, N.A.
	  	$	97,899,159.66	 
	 Morgan Stanley Bank, N.A.
	  	$	97,899,159.66	 
	 Wells Fargo Bank, National Association
	  	$	73,424,369.75	 
	 Barclays Bank PLC
	  	$	63,634,453.78	 
	 Bank of America, N.A.
	  	$	51,428,571.43	 
	 Bank of Montreal
	  	$	51,428,571.43	 
	 Coöperatieve Rabobank U.A., New York Branch
	  	$	51,428,571.43	 
	 HSBC Bank USA, National Association
	  	$	51,428,571.43	 
	 MUFG Bank, Ltd
	  	$	51,428,571.43	 
	 BNP Paribas, acting through its Canada Branch
	  	$	40,000,000.00	 
	 Capital One, National Association
	  	$	40,000,000.00	 
	 Citibank, N.A.
	  	$	40,000,000.00	 
	 Fifth Third Bank
	  	$	40,000,000.00	 
	 Goldman Sachs Bank USA
	  	$	40,000,000.00	 
	 SunTrust Bank
	  	$	40,000,000.00	 
	 The Bank of Nova Scotia
	  	$	40,000,000.00	 
		  	  
	  
	 
	 Total:
	  	$	1,000,000,000.00	 
		  	  
	  
	 

 EXHIBIT B 

TO INCREMENTAL FACILITY AMENDMENT NO. 4 
  

					
	 Term A Lender
	  	Term A Commitment	 
	 JPMorgan Chase Bank, N.A.
	  	$	102,100,840.34	 
	 Morgan Stanley Bank, N.A.
	  	$	102,100,840.34	 
	 Wells Fargo Bank, National Association
	  	$	76,575,630.25	 
	 Barclays Bank PLC
	  	$	66,365,546.22	 
	 Bank of America, N.A.
	  	$	38,571,428.57	 
	 Bank of Montreal
	  	$	38,571,428.57	 
	 Coöperatieve Rabobank U.A., New York Branch
	  	$	38,571,428.57	 
	 HSBC Bank USA, National Association
	  	$	38,571,428.57	 
	 MUFG Bank, Ltd
	  	$	38,571,428.57	 
	 BNP Paribas, acting through its Canada Branch
	  	$	30,000,000.00	 
	 Capital One, National Association
	  	$	30,000,000.00	 
	 Citibank, N.A.
	  	$	30,000,000.00	 
	 Fifth Third Bank
	  	$	30,000,000.00	 
	 Goldman Sachs Bank USA
	  	$	30,000,000.00	 
	 SunTrust Bank
	  	$	30,000,000.00	 
	 The Bank of Nova Scotia
	  	$	30,000,000.00	 
		  	  
	  
	 
	 Total:
	  	$	750,000,000.00

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00299-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00299-of-00352.parquet"}]]