Document:

EX-10.1

  EXECUTION VERSION

  Exhibit 10.1

  Execution Version

   

  SECOND AMENDMENT TO THE 

  RECEIVABLES FINANCING AGREEMENT 

   

  This SECOND AMENDMENT TO THE RECEIVABLES FINANCING AGREEMENT (this “Amendment”), dated as of August 8, 2022, is entered into by and among the following parties:

  (i)AVEANNA SPV I, LLC, as Borrower;

  (ii)AVEANNA HEALTHCARE LLC, as initial Servicer; 

  (iii)PNC BANK, NATIONAL ASSOCIATION (“PNC”), as Administrative Agent and a Lender; and

  (iv)PNC CAPITAL MARKETS LLC, as Structuring Agent.

  Capitalized terms used but not otherwise defined herein (including such terms used above) have the respective meanings assigned thereto in the Receivables Financing Agreement described below.

  BACKGROUND

  A.The parties hereto are parties to the Receivables Financing Agreement, dated as of November 12, 2021 (as amended, restated, supplemented or otherwise modified through the date hereof, the “Receivables Financing Agreement”).

  B.Concurrently herewith, Aveanna Healthcare LLC, as buyer and servicer, PNC, as administrative agent, and the new Originators are entering into a Joinder to the First Tier Sale Agreement (the “Joinder Agreement”).

  C.Concurrently herewith , the parties hereto are entering into that certain amended and restated administrative agent fee letter (the “Restated Agent Fee Letter”)

  D.The parties hereto desire to amend the Receivables Financing Agreement as set forth herein.

  NOW, THEREFORE, with the intention of being legally bound hereby, and in consideration of the mutual undertakings expressed herein, each party to this Amendment hereby agrees as follows:

  SECTION 1.Amendments to the Receivables Financing Agreement.  The Receivables Financing Agreement is hereby amended as shown on the marked pages of the Receivables Financing Agreement attached hereto as Exhibit A. 

   

  			
	 
	 
	 

   

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  SECTION 2.Representations and Warranties of the Borrower and Servicer.  The Borrower and the Servicer hereby represent and warrant to each of the parties hereto as of the date hereof as follows:

  (a)Representations and Warranties.  The representations and warranties made by it in the Receivables Financing Agreement and each of the other Transaction Documents it which it is a party are true and correct as of the date hereof and after giving effect to this Amendment.

  (b)Enforceability.  The execution and delivery by it of this Amendment, and the performance of its obligations under this Amendment, the Receivables Financing Agreement (as amended hereby) and the other Transaction Documents to which it is a party are within its organizational powers and have been duly authorized by all necessary action on its part, and this Amendment, the Receivables Financing Agreement (as amended hereby) and the other Transaction Documents to which it is a party are (assuming due authorization and execution by the other parties thereto) its valid and legally binding obligations, enforceable in accordance with its terms, except (x) the enforceability thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws from time to time in effect relating to creditors’ rights, and (y) the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding therefor may be brought.

  (c)No Event of Default.  No Event of Default or Unmatured Event of Default has occurred and is continuing, or would occur as a result of this Amendment or the transactions contemplated hereby. 

  SECTION 3.Effect of Amendment; Ratification.  All provisions of the Receivables Financing Agreement and the other Transaction Documents, as expressly amended and modified by this Amendment, shall remain in full force and effect.  After this Amendment becomes effective, all references in the Receivables Financing Agreement (or in any other Transaction Document) to “this Receivables Financing Agreement”, “this Agreement”, “hereof”, “herein” or words of similar effect referring to the Receivables Financing Agreement shall be deemed to be references to the Receivables Financing Agreement as amended by this Amendment. This Amendment shall not be deemed, either expressly or impliedly, to waive, amend or supplement any provision of the Receivables Financing Agreement other than as set forth herein.  The Receivables Financing Agreement, as amended by this Amendment, is hereby ratified and confirmed in all respects.

  SECTION 4.Effectiveness.  This Amendment shall become effective as of the first date on which (i) each of the parties hereto executes and delivers a counterpart hereof to the Administrative Agent, (ii) the Administrative Agent shall have received each of the documents, agreements (in fully executed form), opinions of counsel, lien search results, security interest filings, certificates and other deliverables listed on the closing memorandum attached as Exhibit B hereto, in each case, in form and substance acceptable to the Administrative Agent and (iii) all fees and expenses payable by the Borrower on the date hereof to the Credit Parties have been paid in full in accordance with the terms of the Transaction Documents.

   

  			
	 
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  SECTION 5.Severability.  Any provisions of this Amendment which are prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

  SECTION 6.Transaction Document.  This Amendment shall be a Transaction Document for purposes of the Receivables Financing Agreement.

  SECTION 7.Counterparts.  This Amendment may be executed in any number of counterparts and by different parties on separate counterparts, each of which when so executed shall be deemed to be an original and all of which when taken together shall constitute but one and the same instrument.  Delivery of an executed counterpart of a signature page to this Amendment by facsimile or e-mail transmission shall be effective as delivery of a manually executed counterpart hereof.

  SECTION 8.GOVERNING LAW AND JURISDICTION.  

  (a)THIS AMENDMENT, INCLUDING THE RIGHTS AND DUTIES OF THE PARTIES HERETO, SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK, BUT WITHOUT REGARD TO ANY OTHER CONFLICTS OF LAW PROVISIONS THEREOF, EXCEPT TO THE EXTENT THAT THE PERFECTION, THE EFFECT OF PERFECTION OR PRIORITY OF THE INTERESTS OF ADMINISTRATIVE AGENT OR ANY LENDER IN THE COLLATERAL IS GOVERNED BY THE LAWS OF A JURISDICTION OTHER THAN THE STATE OF NEW YORK).

  (b)EACH PARTY HERETO HEREBY IRREVOCABLY SUBMITS TO (I) WITH RESPECT TO THE BORROWER AND THE SERVICER, THE EXCLUSIVE JURISDICTION, AND (II) WITH RESPECT TO EACH OF THE OTHER PARTIES HERETO, THE NON-EXCLUSIVE JURISDICTION, IN EACH CASE, OF ANY NEW YORK STATE OR FEDERAL COURT SITTING IN NEW YORK CITY, NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AMENDMENT OR ANY OTHER TRANSACTION DOCUMENT, AND EACH PARTY HERETO HEREBY IRREVOCABLY AGREES THAT ALL CLAIMS IN RESPECT OF SUCH ACTION OR PROCEEDING (I) IF BROUGHT BY THE BORROWER, THE SERVICER OR ANY AFFILIATE THEREOF, SHALL BE HEARD AND DETERMINED, AND (II) IF BROUGHT BY ANY OTHER PARTY TO THIS AMENDMENT OR ANY OTHER TRANSACTION DOCUMENT, MAY BE HEARD AND DETERMINED, IN EACH CASE, IN SUCH NEW YORK STATE COURT OR, TO THE EXTENT PERMITTED BY LAW, IN SUCH FEDERAL COURT.  NOTHING IN THIS SECTION 9 SHALL AFFECT THE RIGHT OF THE ADMINISTRATIVE AGENT OR ANY OTHER CREDIT PARTY TO BRING ANY ACTION OR PROCEEDING AGAINST THE BORROWER OR THE SERVICER OR ANY OF THEIR RESPECTIVE PROPERTY IN THE COURTS OF OTHER JURISDICTIONS.  EACH OF THE BORROWER AND THE SERVICER HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT IT MAY EFFECTIVELY DO SO, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF 

   

  			
	 
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  SUCH ACTION OR PROCEEDING IN ANY NEW YORK STATE OR FEDERAL COURT SITTING IN NEW YORK CITY, NEW YORK.  THE PARTIES HERETO AGREE THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW.

  SECTION 9.Section Headings.  The various headings of this Amendment are included for convenience only and shall not affect the meaning or interpretation of this Amendment, the Receivables Financing Agreement or any provision hereof or thereof.

  SECTION 10.Reaffirmation of Performance Guaranty.  After giving effect to this Amendment and each of the other transactions contemplated hereby, all of the provisions of the Performance Guaranty shall remain in full force and effect and each Performance Guarantor hereby ratifies and affirms the Performance Guaranty and acknowledges that the Performance Guaranty has continued and shall continue in full force and effect in accordance with its terms.

   

  [Signature Pages Follow]

   

   

  			
	 
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  IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first written above.

  		
	 
	AVEANNA SPV I, LLC

By:     /s/ Shannon Drake                                  
Name: Shannon Drake
Title:  Secretary

	 
	 

	 
	 

	 
	 
 

	 
	AVEANNA HEALTHCARE LLC,
as the Servicer and, solely with respect to Section 10, as a Performance Guarantor

By:     /s/ Shannon Drake                                  
Name: Shannon Drake
Title:  Secretary

	 
	 

	 
	 

	 
	 

   

  S-1

  Second Amendment to

  		Receivables Financing Agreement 

  (PNC/Aveanna)

   DOCVARIABLE #DNDocID \* MERGEFORMAT 748407359 21689858

  

   

  			
	 
	PNC BANK, NATIONAL ASSOCIATION,
as Administrative Agent 

By:     /s/ Eric Bruno 
Name:  Eric Bruno
Title:  Managing Director
 
	 

	 
	 
	 

	 
	PNC BANK, NATIONAL ASSOCIATION,
as a Lender
 

By:     /s/ Eric Bruno 
Name:  Eric Bruno
Title:  Managing Director
	 

   

  S-2

  Second Amendment to

  		Receivables Financing Agreement 

  (PNC/Aveanna)

   DOCVARIABLE #DNDocID \* MERGEFORMAT 748407359 21689858

  

   

  			
	 
	 
 
PNC CAPITAL MARKETS LLC,
as Structuring Agent
 

By:     /s/ Eric Bruno 
Name:  Eric Bruno
Title:  Managing Director
 
 
 
	 

   

  S-1

  Second Amendment to

  		Receivables Financing Agreement 

  (PNC/Aveanna)

   DOCVARIABLE #DNDocID \* MERGEFORMAT 748407359 21689858

  

   

  	
	With respect to Section 10:
 

	AVEANNA HEALTHCARE HOLDINGS INC.,
as a Performance Guarantor

By:     /s/ Shannon Drake                                  
Name: Shannon Drake
Title:  Secretary

   

  S-1

  Second Amendment to

  		Receivables Financing Agreement 

  (PNC/Aveanna)

   DOCVARIABLE #DNDocID \* MERGEFORMAT 748407359 21689858

  

   

  Exhibit A

   

  Amendments to the Receivables Financing Agreement

   

   

  Exhibit A

  

   

  Exhibit B

   

  Closing Memorandum

   

   

  Exhibit BEX-10.2

   

  Exhibit 10.2

  Mind Medicine (MindMed) Inc.

  Non-Employee Director Compensation Policy

  Effective as of June 1, 2022
Amended August 11, 2022

  Each member of the Board of Directors (the “Board”) who is not also serving as an employee of or consultant to Mind Medicine (MindMed) Inc. (the “Company”) or any of its subsidiaries (each such member, an “Eligible Director”) will receive the compensation described in this Non-Employee Director Compensation Policy for his or her Board service upon and following the date first set forth above (the “Effective Date”). An Eligible Director may decline all or any portion of his or her compensation by giving notice to the Company prior to the date cash may be paid or equity awards are to be granted, as the case may be. This policy is effective as of the Effective Date and may be amended at any time in the sole discretion of the Board. Except as otherwise explicitly stated herein, all references in this Policy to currency refer to U.S. dollars.

  I.	Annual Cash Compensation

  The annual cash compensation amount set forth below will be payable to Eligible Directors in equal quarterly installments, payable in arrears on or promptly following the last day of each fiscal quarter in which the service occurred, commencing with respect to services provided on and after the Effective Date. If an Eligible Director joins the Board or a committee of the Board at a time other than effective as of the first day of a fiscal quarter, each annual retainer set forth below will be pro-rated based on days served in the applicable fiscal quarter, with the pro-rated amount paid on or promptly following the last day of the first fiscal quarter in which the Eligible Director provides the service and regular full quarterly payments thereafter. All annual cash fees are vested upon payment. 

  1.	Annual Board Service Retainer: 

  a.	All Eligible Directors: $40,000

  b.	Additional Retainer for Board Chair: $40,000

  c.	Additional Retainer for Board Vice Chair: $30,000

  2.	Annual Committee Chair Service Retainer:

  a.	Chair of the Audit Committee: $15,000

  b.	Chair of the Compensation Committee: $10,000

  c.	Chair of the Nominating and Corporate Governance Committee: $10,000

   

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  3.	Annual Committee Member Service Retainer (not applicable to Committee Chairs):

  a.	Member of the Audit Committee: $7,500

  b.	Member of the Compensation Committee: $5,000

  c.	Member of the Nominating and Corporate Governance Committee: $5,000

  II.	Expenses

  The Company will reimburse Eligible Directors for ordinary, necessary and reasonable out-of-pocket travel expenses to cover in-person attendance at and participation in Board and committee meetings; provided, that the Eligible Director timely submits to the Company appropriate documentation substantiating such expenses in accordance with the Company’s travel and expense processes.

  III.	Equity and Equity-Based Compensation

  1.	Structure and Form of Grants.  Each Eligible Director will be granted an Initial Grant and Annual Grant (as defined below).  The Initial Grant and the Annual Grant will be in the form of any of the following or a combination thereof, as determined by the Board in its sole discretion on or before the applicable grant date: (i) restricted share units with respect to common shares of the Company (“Common Shares” and such units, “RSUs”), (ii) stock options to purchase Common Shares (“Options”), and/or (iii) a right to receive a cash amount that is calculated based on the value of Common Shares in the form of deferred share units (“DDSUs”).  

  The equity and equity-based compensation set forth in this Section III will be granted under and subject to the terms of the Mind Medicine (MindMed) Inc. Performance and Restricted Share Unit Plan or successor plan thereto (the “RSU Plan”), the Mind Medicine (MindMed) Inc. Stock Option Plan or successor plan thereto (the “Option Plan,” and collectively with the RSU Plan, the “Equity Plans”), and/or the Mind Medicine (MindMed) Inc. Directors’ Deferred Share Unit Plan or successor plan thereto (the “DDSU Plan”), in each case, to the extent applicable and subject to the applicable award agreements thereunder. All Options granted under this policy will be nonstatutory stock options, with an exercise price per share equal to 100% of the Fair Market Value (as defined in the Option Plan) of the underlying Common Shares on the prior trading day before the grant date, and a term of ten years from the grant date (subject to earlier termination in connection with a termination of service, as provided in the Option Plan and applicable stock option grant notice and award agreement).  

  2.	Initial Grants. For each Eligible Director who is first elected or appointed to the Board following the Effective Date, on the date of such Eligible Director’s initial election or appointment to the Board (or, if such date is not a market trading day, the first market trading day thereafter), the Eligible Director will be granted an initial award, in such form(s) as determined by the Board as described in Section III.1. above, having an aggregate target grant value of $450,000 (the “Initial Grant”).  Each Initial Grant shall vest over a three-year period, subject to the Eligible Director’s continuous service as a member of the Board through each such vesting date.  Initial Grants in the form of RSUs will vest in three equal annual installments over such three-year period; provided, that in the event that an Eligible Director’s continuous service as a member of the Board terminates for any reason other than for cause after the first anniversary of the grant date, a portion of the Initial Grant RSUs that would have vested on the next annual vesting date following the date of departure will immediately vest in full as of the date of termination of service, prorated based on a fraction, the numerator of which is the number of days elapsed from the prior vesting date through the date of termination of service, and the denominator of which is 365 (or 366, as applicable).  Initial Grants in the form of Options or DDSUs will vest with respect to one-third (1/3) of the Initial Grant on the 

   

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  one-year anniversary of the grant date, with the remaining portion of the Initial Grant vesting in equal monthly installments thereafter. 

  The number of RSUs, Common Shares and DDSUs underlying Initial Grants and Annual Grants (as defined in Section 3), as applicable, will be determined as set forth in this paragraph, with currency conversion as necessary, unless otherwise determined by the Board.  To the extent an Initial Grant is provided in the form of RSUs, the number of RSUs shall be determined by dividing the target grant value by the closing price of a Common Share on the NEO Exchange Inc. on the prior trading day before the grant date. To the extent an Initial Grant is provided in the form of Options, the number of Common Shares underlying such Option shall be determined based on the applicable Black-Scholes value as of the grant date. To the extent an Initial Grant is provided in the form of DDSUs, the number of DDSUs will be determined by dividing the target grant value by the closing price of a Common Share on the NEO Exchange Inc. on the prior trading day before the grant date. 

  3.	Annual Grants. On the date of each annual stockholder meeting of the Company (each, an “Annual Meeting”) held after the Annual Meeting held in 2022, each Eligible Director who (a) has served as a director of the Company for at least six (6) months as of the date of the Annual Meeting, and (b) continues to serve as a non-employee member of the Board following such Annual Meeting (excluding any Eligible Director who is first appointed or elected by the Board at Annual Meeting) will be granted an annual award, in such form(s) as determined by the Board as described in Section III.1. above, having an aggregate target grant value of $180,000 (the “Annual Grant”). 

  The Annual Grant will vest over a one-year period measured from the grant date, or in any event no later than the date immediately prior to the next Annual Meeting, subject in any case to the Eligible Director’s continuous service as a member of the Board through such vesting date. Annual Grants in the form of RSUs will vest in four equal quarterly installments measured from the grant date; Annual Grants in the form of Options or DDSUs will vest in twelve equal monthly installments measured from the grant date.  

  The number of RSUs, Common Shares or DDSUs, as applicable, subject to each Annual Grant shall be determined in the same manner as for Initial Grants, as described in the last paragraph of Section III.2. above.

  4.	CIC Accelerated Vesting. Notwithstanding anything herein to the contrary, each Initial Grant and Annual Grant will vest as follows upon a Change in Control or Change of Control (as defined in each Equity Plan or the DDSU Plan, as applicable), subject, in each case, to the Eligible Director’s continuous service as a member of the Board through the date of such Change in Control or Change of Control (as applicable): (a) with respect to any Eligible Director who has less than one (1) year of continuous service as a member of the Board on the date of such Change in Control or Change of Control, the portion of each Initial Grant and/or Annual Grant held by such Eligible Director will vest as would have vested through the one (1) year anniversary of the applicable grant date, had the Eligible Director provided continuous service as a member of the Board through such date; and (b) with respect to any Eligible Director who has one (1) or more years of continuous service as a member of the Board on the date of such Change in Control or Change of Control, each Initial Grant and/or Annual Grant held by such Eligible Director will vest in full.

   

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