Document:

Exhibit

	
					
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	AMENDED AND RESTATED
	 
	 

	 
	 
	ENERGY TRANSFER PARTNERS, L.L.C.
	 
	 

	 
	 
	ANNUAL BONUS PLAN
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

AMENDED AND RESTATED
ENERGY TRANSFER PARTNERS, L.L.C.
ANNUAL BONUS PLAN
		
	1.
	Purpose. The purpose of this Plan is to motivate management and the employees who perform services for the Partnership and/or its affiliates and subsidiaries to earn annual cash awards through the achievement of performance and target goals.

		
	2.
	Definitions. As used in this Plan, the following terms shall have the meanings herein specified:

		
	2.1
	Actual Results means the dollar amount of Adjusted EBITDA, Distributable Cash Flow, Departmental Budget or other applicable financial measure specified for the Budget Target(s) for a Plan Year actually achieved for such Plan Year as determined by the Partnership following the end of such Plan Year.

		
	2.2
	Adjusted EBITDA means earnings before interest, taxes, depreciation and amortization adjusted for non-cash compensation and extraordinary costs, including but not limited to transactional costs.

		
	2.3
	Annual Bonus means the cash bonus paid to an Eligible Employee for the Plan Year.

		
	2.4
	Annual Target Bonus means, for an Eligible Employee, a percentage of such Eligible Employee’s Eligible Earnings, and shall be dependent on a number of factors which may include but are not limited to an employee’s position title, job responsibilities, and reporting level within the Company. The Company may, but is not required to, specify a specific range for an Eligible Employee at any time prior to or during a Plan Year; provided that any such range may be adjusted from time to time or at any time in the Company’s sole discretion, including for the applicable Plan Year.

		
	2.5
	Annual Target Bonus Pool means, for a Plan Year, the Target Bonus of the Eligible Employees of the Company for that Plan Year.

		
	2.6
	Board means the Board of Directors of the Company.

		
	2.7
	Bonus Pool Payout Factor means the multiplier factor applied to the Annual Target Bonus Pool to determine the Funded Bonus Pool for the applicable Plan Year. The payout is determined by the comparison of the Budget Target(s) for the Plan Year to Actual Results.  General guidelines for the Budget Target and the Bonus Pool Payout Factor associated with such Budget Target for a Plan Year are set forth below, but each are subject to the sole discretion of the Compensation Committee.  The Bonus Pool Payout Factor for purposes of the Plan shall be adjusted each Plan Year based on the specific allocation of Annual Target Bonus Pools to each of the specified Budget Target(s). Such allocations of each Budget Target to the total Annual Bonus Pool shall be determined on an annual basis by the Compensation Committee.  For 2018, the Adjusted EBITDA Budget Target shall comprise 60% of the total Annual Target Bonus Pool, the Distributable Cash Flow Budget Target shall comprise 20% of the total Annual Target Bonus Pool and the Departmental Budget Target shall comprise the remaining 20% of the total Annual Target Bonus Pool.   While the Funded Bonus Pool will reflect an aggregation of performance under each Bonus Pool Payout Factor the performance of Adjusted EBITDA Budget Target shall drive calculation of the Bonus Pool, as no other targets shall be considered unless the Adjusted EBITDA Target results is at least 80% of its Budget Target.

Adjusted EBITDA Performance Target Payout Factor Guidelines
	
		
	% of Budget Target
	Bonus Pool Payout Factor

	>=110.0
	1.20x

	109.9 – 105.0
	1.10x

	104.9 – 95.0
	1.00x

	94.9 – 90.0
	.90x

	89.9 – 80.0
	.75x

	< 80.0
	.0x

       
Distributable Cash Flow Performance Target Payout Factor Guidelines
	
		
	% of Budget Target
	Bonus Pool Payout Factor

	>=110.0
	1.20x

	109.9 – 105.0
	1.10x

	104.9 – 95.0
	1.00x

	94.9 – 90.0
	.90x

	89.9 – 80.0
	.75x

	< 80.0
	.0x

  Departmental Budget Target Payout Factor Guidelines
	
		
	% of Budget Target
	Bonus Pool Payout Factor

	0.0-100.9
	1.00x

	101.0-105.9
	.90x

	106.0 – 110.9
	.70x

	111.0-114.9
	.50x

	>115
	.0x

		
	2.8
	Budget Target means the specific dollar amount of Adjusted EBITDA, Distributable Cash Flow, total Departmental Budget and/or other financial measure(s) established by the Compensation Committee for the Company for a Plan Year.

		
	2.9
	Company means Energy Transfer Partners, L.L.C., a Delaware limited liability company. The term “Company” shall include any successor to Energy Transfer 

Partners, L.L.C., any subsidiary or affiliate thereof that has adopted the Plan, or any entity succeeding to the business of Energy Transfer Partners, L.L.C., or any subsidiary or affiliate, by merger, consolidation, liquidation, or purchase of assets or equity, or similar transaction.
		
	2.10
	Compensation Committee means the Compensation Committee of the Company’s Board.

		
	2.11
	Departmental Budget means the specific dollar amount of general and administrative expenses (i.e. operating budget) or operating and maintenance expenses set for each department of Partnership and its subsidiaries.  In the case where a department head oversees multiple departments the Departmental Budget shall be the total aggregate budget for all of his/her departments.

		
	2.12
	Distributable Cash Flow means net income, adjusted for certain non-cash items, less maintenance capital expenditures.

		
	2.13
	Eligible Earnings means the aggregate regular earnings plus overtime earnings, if any, received by an Eligible Employee during the Plan Year.  For the avoidance of doubt, neither distribution payments or distribution equivalent payments on any Partnership restricted or common units nor any other bonus or sign-on payments received by an Eligible Employee during  the Plan Year shall be included in the calculation of Eligible Earnings for an Eligible Employee.

		
	2.14
	Eligible Employee has the meaning set forth in Section 4 below.

		
	2.15
	Funded Bonus Pool means the Annual Target Bonus Pool for a Plan Year multiplied by the applicable Bonus Pool Payout Factor for such Plan Year. The establishment and amount of a Funded Bonus Pool is 100% discretionary and subject to the final approval of and/or adjustment by the Compensation Committee.

		
	2.16
	Operational Safety Standards means the safety standards, training and requirements set forth on Exhibit A hereto, which operations based Eligible Employees are required to comply.

		
	2.17
	Partnership means Energy Transfer Partners L.P., a Delaware master limited partnership.

		
	2.18
	Person means an individual, corporation, limited liability company, partnership, joint venture, trust, unincorporated organization, association, government agency or political subdivision thereof or other entity.

		
	2.19
	Plan means the Company’s Annual Bonus Plan as set forth herein, as the same may be amended from time to time.

		
	2.20
	Plan Year means the performance (calendar) year for the measurement and determination of the Budget Target and the calculation of Actual Results.  Unless otherwise determined by the Compensation Committee, each Plan Year shall be the one year period commencing on January 1 and ending on December 31 of the calendar year. 

		
	3.
	Plan Guidelines and Administration. The administration of the Plan and any potential Annual Bonus awarded pursuant to the Plan are subject to the sole determination and discretion of the Compensation Committee. The Compensation Committee will review the Partnership’s performance results for the designated Plan Year, the Budget Target and Bonus Pool Payout 

Factor for each Plan Year and thereafter will determine, in consultation with the Company’s Chief Executive Officer and the Company’s Chief Human Resources Officer, whether or not and to what extent to approve the Funded Bonus Pool under the Plan.
The Compensation Committee may delegate the responsibility for the administration and operation of the Plan to the Chief Executive Officer of the Company or his/her designee(s). The Compensation Committee or the person(s) to which administrative authority has been delegated (the Committee or such person referred to as the “Plan Administrator”) shall have the authority to interpret and construe any and all provisions of the Plan, including the establishment for any designated Plan Year or from time to time any Budget Targets, Budget Target guidelines, Bonus Pool Payout Factors and/or such other economic or performance factors as the Plan Administrator shall determine and whether and to what extent any such targets, guidelines or factors has been achieved. Any determination made by the Plan Administrator shall be final and conclusive and binding on all persons. 
		
	4.
	Eligible Employees. Subject to the discretion of the Compensation Committee and such other criteria as may be established by the Compensation Committee in general or for a particular Plan Year, all regular full-time employees providing services to the Partnership and its subsidiaries are eligible to participate in the Annual Target Bonus Pool for a Plan Year. No Eligible Employee shall be entitled to receive an Annual Bonus for a Plan Year unless he or she is actively employed by the Company (or one of its Affiliates) on the date the Annual Bonus for such Plan Year is paid by the Company even if such payment date is after the Plan Year.  

Notwithstanding the foregoing if an Eligible Employee becomes fully disabled, in the sole discretion of the Partnership, or dies after the completion of a Plan Year but prior to the payment of the Annual Bonus, such Eligible Employee or his/her estate, as applicable shall be eligible to receive such Eligible Employee’s Annual Bonus. Additionally, in a situation where an Eligible Employee is displaced as a result of a transaction and such transaction closes on or after December 31 of the Plan Year but prior to payment of the Annual Bonus, such Eligible Employee will be able to receive a bonus award even though he/she is not employed on the date of payment of the Annual Bonus. 
Employees of Sunoco LP and its subsidiaries and USA Compression Partners, LP and its subsidiaries shall participate in the Sunoco GP LLC Annual Bonus Plan and the USA Compression Partners, LP Annual Cash Incentive Plan, respectively and shall not be eligible to participate under this Plan.  
		
	5.
	Annual Bonus Payments for Eligible Employees.  As soon as reasonably practicable following the end of the Plan Year, management of the Company will determine the Annual Target Bonus for each Eligible Employee. The Funded Bonus Pool from which Annual Bonuses are paid to Eligible Employees shall equal (a) the aggregate of the Annual Target Bonuses of all Eligible Employees multiplied by (b) the Bonus Pool Payout Factor for such Plan Year, as determined by the Compensation Committee after review of the performance results for the Plan year.  The amount of the Annual Bonus for an Eligible Employee from the Funded Bonus Pool shall be determined in management’s sole discretion and shall be based on a number of factors including an employee’s performance, length of employment and such other factors as may be determined by management in its sole discretion, which factors may not be the same fall all Eligible Employees. Notwithstanding the foregoing, the Compensation Committee shall make determination of the Annual Bonus of all of the Company’s named executive officers and such other executive officers as may be determined from time to time. 

In addition, operations based Eligible Employees shall be evaluated against the Operational Safety Standards set forth on Exhibit A and any deviation or failure to meet such Operational 

Safety Standards may result in a reduction of such Eligible Employee’s Annual Bonus Pool of up to 25%.
In no event, shall the aggregate amount of the Annual Bonus payments for the Plan Year exceed, in total, the Funded Bonus Pool for such Plan Year Notwithstanding any provision herein, funds allocated under this Plan for distribution to Eligible Employees is 100% discretionary. 
		
	6.
	Amendment and Termination. The Compensation Committee, at its sole discretion, may, without prior notice to or consent of any Eligible Employees, amend the Plan or terminate the Plan at any time and at all times.

		
	7.
	Indemnification. Neither the Company, any participating Affiliate, nor the Board, or the Compensation Committee, of the Company or any participating affiliate, nor any officer or employee of the Company or any participating affiliate shall be liable for any act, omission, interpretation, construction or determination made in connection with the Plan in good faith; and the members of the Company’s Board, the Compensation Committee and/or management of the Company shall be entitled to indemnification and reimbursement by the Company to the maximum extent permitted by law in respect of any claim, loss, damage or expense (including counsel’s fees) arising from their acts, omission and conduct in their official capacity with respect to the Plan.

		
	8.
	General provisions.

		
	8.1
	Non-Guarantee of Employment or Participation in the Plan. Nothing contained in this Plan shall be construed as a contract of employment between the Company, the Partnership and/or any of its affiliates and any employee of the Company or any of its affiliates, and nothing in this Plan shall confer upon any employee, including an Eligible Employee, any right to continued employment with the Company and/or its affiliate, or interfere with the right of the Company, the Partnership  and/or its affiliate to terminate the employment, with or without cause, of an employee, including an Eligible Employee.  Nothing in this Plan shall give any employee any right to participate in the Plan and/or to receive an Annual Bonus with respect to any Plan Year.

		
	8.2
	Interests Not Transferable. No right, interest or benefit under the Plan shall be subject in any manner to alienation, sale, transfer, assignment, pledge, attachment or other legal process, or encumbrance of any kind, and any attempt to do so shall be void.

		
	8.3
	Controlling Law. To the extent not superseded by federal law, the law of the State of Texas, without regard to the conflicts of laws provisions thereunder, shall be controlling in all matters relating to the Plan.

		
	8.4
	Severability. If any Plan provision or any Annual Bonus award hereunder is or becomes or is deemed to be invalid, illegal, or unenforceable in any jurisdiction or as to any person or award, or would disqualify the Plan or any award under the law deemed applicable by the Compensation Committee, such provision shall be construed or deemed amended to conform to the applicable laws, or if it cannot be construed or deemed amended without, in the determination of the Compensation Committee, materially altering the intent of the Plan or the award, such provision shall be stricken as to such jurisdiction, person or award and the remainder of the Plan and any such award shall remain in full force and effect.

		
	8.5
	No Trust or Fund Created. Neither the Plan nor any award shall create or be construed to create a trust or separate fund of any kind or a fiduciary relationship between the Company and its Affiliates and an employee, including an Eligible Employee or any other person. The Plan shall constitute an unfunded mechanism for the Company to pay bonus compensation to participants from its general assets.  No participant shall have any security or other interest in the assets of the Company.

		
	8.6
	Headings. Headings are given to the sections of the Plan solely as a convenience to facilitate reference. Such headings shall not be deemed in any way material or relevant to the construction or interpretation of the Plan or any provision of it.

		
	8.7
	Tax Withholding. The Company and/or any participating Affiliate may deduct from any payment otherwise due under this Plan to a Participant (or beneficiary) amounts required by law to be withheld for purposes of federal, state or local taxes.  

		
	8.8
	Off-set.  The Company reserves the right to withhold any or all portions of an award or to reduce an award to a participant up to an amount equal to any amount the participant owes to the Company or any of its Affiliates.

		
	8.9
	Effective Date.  This Plan was effective for the Plan Year commencing on January 1, 2014 and was amended and restated effective for the Plan year commencing on January 1, 2018.

EXHIBIT A
OPERATIONAL SAFETY STANDARDS
		
	1.
	Satisfactory completion of all required safety training and instruction

		
	2.
	Attendance at all required safety meetings

		
	3.
	Avoidance of preventable vehicle incidents

		
	4.
	Management discretion of overall compliance and understanding of safety standards and requirements for operationExhibit 10.1

 

MODIFICATION
AGREEMENT

 

THIS
MODIFICATION AGREEMENT, (this “Agreement”), made as of June 22, 2018 (the “Effective Date”),
by and among IPIC-GOLD CLASS ENTERTAINMENT LLC, a Delaware limited liability company (the “Borrower”),
IPIC GOLD CLASS HOLDINGS LLC, a Delaware limited liability company (“Holdings”), IPIC TEXAS, LLC,
a Texas limited liability company (“IPIC Texas”), IPIC MEDIA, LLC, a Florida limited liability company
(“IPIC Media”), DELRAY BEACH HOLDINGS, LLC, a Florida limited liability company (“DB Holdings”),
BAY COLONY REALTY, LLC, a Florida limited liability company (“Bay Colony”, together with Borrower, Holdings,
IPIC Texas, IPIC Media and DB Holdings, collectively, the “Borrower Parties”) and THE TEACHERS’ RETIREMENT
SYSTEM OF ALABAMA, a body corporate of the State of Alabama created under Section 16-25-1 et. seq., Code of Alabama
(1975), as amended (the “TRS”), and THE EMPLOYEES’ RETIREMENT SYSTEM OF ALABAMA, a body corporate of the
State of Alabama created under Section 36-27-1 et. seq., Code of Alabama (1975), as amended (the “ERS”)
(the TRS and the ERS are sometimes herein referred to individually as a “Lender” and collectively as the “Lenders”).

 

RECITALS:

 

A. Borrower
Parties and Lenders are party to that certain Second Amended and Restated Master Loan and Security Agreement dated February 1,
2018 (as previously or hereafter amended, the “Loan Agreement”), pursuant to which, Lenders have agreed to
extend to Borrower a non-revolving credit facility in an aggregate principal amount not to exceed $225,828,169.12 (the “Loan”)
for the purpose of financing the costs of leasing, constructing, furnishing, equipping, establishing and operating upscale cinema
projects to be located at sites in the United States of America in accordance with the terms of the Loan Agreement. Capitalized
terms not otherwise defined herein shall have the meanings given in the Loan Agreement.

 

B. The
Borrower Parties have requested that proceeds of the Loan be made available for the renovation of certain existing, operating
Projects located in Pasadena, California, Redmond, Washington, Scottsdale, Arizona, Fairview, Texas and Austin, Texas (each a
“Renovation Project” and collectively, the “Renovation Projects”), and, as a condition precedent
to consenting to allowing Advances for the Renovation Projects, Lenders require that the Loan Agreement be modified on the terms
and conditions hereafter set forth.

 

AGREEMENT

 

NOW,
THEREFORE, in consideration of the foregoing Recitals and other good and valuable consideration, the parties hereto agree as follows:

 

1. Recitals.
The Recitals herein are true and correct.

 

2. Amendments
to Loan Agreement.

 

(a) Definitions.

 

		(i)	The
                                         definitions set forth in Section 1.1 of the Loan Agreement for “Approved Project,”
                                         “Available Committed Amount,” “Future Projects,” “Pasadena
                                         Note,” “Pasadena Project”, “Project Development Budget,”
                                         “Project Tranche,” “Projects,” “Scheduled Completion Date,”
                                         and “Title Policies,” are hereby deleted in their entirety and the following
                                         inserted in lieu thereof:

 

“Approved
Project” shall mean each Existing Project, each Planned Project, each Renovation Project, together with any other Future
Project which meets the definition of “Approved Project” as defined in Section 3.2(b) hereof.

 

    -1-

     

    

 

“Available
Committed Amount” shall mean the Tranche 3 Committed Amount less the sum of (a) the Village Note Payoff Advance,
(b) the Operating Expense Advance, (c) the stated amount of all Project Tranches for all Existing Projects, Planned Projects,
Renovation Projects and Future Projects previously incurred under the Tranche 3 Committed Amount and (d) any sums not identified
in any Project Development Budget for any Existing Project, Planned Project, Renovation Project or Future Project but which are
reasonably identified by Agent Lender as amounts required to complete the development of any Existing Project, Planned Project
or Future Project (i.e. any “overrun” amounts), as such amount may be adjusted from time to time by Agent Lender to
account for changes to Project Development Budgets for Existing Projects, Planned Projects, Renovation Projects and Future Projects,
cost-savings or cost-overruns in any Project Development Budges for any Existing Project, Planned Project, Renovation Project
or Future Project, or the availability of Lessor Contributions for Project development or operating costs, all as more particularly
provided herein.

 

“Future
Projects” shall mean each Approved Project (other than the Existing Projects, Planned Projects and Renovation Projects)
approved after the Existing Loan Agreement Effective Date in accordance with the terms and conditions of Section 3.2 hereof.

 

“Pasadena
Note” means collectively, (i) that certain Project Promissory Note dated September 30, 2010 from Borrower in favor of
TRS in the stated amount of $3,176,482.06, as amended by Note Modification and Amendment to Loan Documents dated May 29, 2014,
reducing the stated principal amount thereof to $3,042,869.72 (as previously or hereafter amended, the “TRS Pasadena Note”),
(ii) that certain Project Promissory Note dated September 30, 2010 from Borrower in favor of ERS in the stated principal amount
of $1,564,535.94, as amended by Note Modification and Amendment to Loan Documents dated May 29, 2014, reducing the stated principal
amount thereof to $1,498,726.88 (as previously or hereafter amended, the “ERS Pasadena Note”) in the collective
amount of the Project Tranche for the Existing Pasadena Project, evidencing the Borrower’s obligation to pay the aggregate
outstanding principal balance of the Project Tranche for the Existing Pasadena Project to the Lenders, together with interest
thereon, as the same may be amended from time to time; together with, (iii) that certain Project Promissory Note dated of even
date herewith from Borrower in favor of TRS in the stated principal amount of $741,307.30 (the “TRS Pasadena Renovation
Note”), and (iv) that certain Project Promissory Note dated of even date herewith from Borrower in favor of ERS in the
stated principal amount of $365,121.50 (the “ERS Pasadena Renovation Note”) in the collective amount of the
Renovation Project Tranche for the Pasadena Renovation Project, evidencing the Borrower’s obligation to pay the aggregate
outstanding principal balance of the Project Tranche for the Pasadena Renovation Project to the Lenders, together with interest
thereon, as the same may be amended from time to time The Amount of the Pasadena Note may be modified, as determined by Lender
in Lender’s sole discretion, to reflect changes to the Existing Pasadena Project Tranche and Pasadena Renovation Project Tranche,
as applicable.

 

    -2-

     

    

 

“Pasadena
Project” means collectively, the Existing Pasadena Project and the Pasadena Renovation Project.

 

“Project
Development Budget” means, as applicable, a detailed estimation of the cost to reconfigure, renovate, acquire, construct,
furnish, improve, equip, stock and otherwise complete and establish a Project, which estimation may include soft costs approved
by Agent Lender in accordance with the terms and conditions of Section 3.3 of this Agreement.

 

“Project
Tranche” means the maximum amount available for Advances as proceeds from the Loan with respect to each Project,
said Project Tranche being the lesser of (i) eighty percent (80%) of the total remaining cost to develop such Project as set forth
in the Project Development Budget approved by the Agent Lender for such Project, or (ii) the Available Committed Amount calculated
at the time such Project and Project Development Budget are approved by the Agent Lender for such Project; provided, however,
that the Project Tranche may be adjusted by Agent Lender from time to time for changes in the Project Development Budget, overruns,
cost-savings, or for verified availability of Lessor Contributions, as provided herein. Without limiting the foregoing, the Project
Tranche for any Renovation Project shall only include the costs to renovate and reconfigure such Renovation Project, and the Project
Tranche for any Existing Project shall not include previously incurred costs to acquire, construct or equip such Existing Project,
and such Project Tranche shall only include the remaining costs to reconfigure such Existing Project. 

 

    -3-

     

    

 

“Projects”
means, collectively, the Existing Projects, the Planned Projects, the Milwaukee Project, the Renovation Projects, and
Future Projects, being upscale “IPIC” cinema projects to be constructed (as to Future Projects and Planned Projects)
and/or reconfigured or renovated (as to any Projects approved for renovation by Agent Lender in its sole and absolute discretion)
and maintained (as to all Projects) on each of the Properties, together with food preparation and dining areas, theatre seating,
concession areas, indoor common areas, outdoor common areas, and related parking, landscaping and site improvements, all to be
constructed and/or renovated and maintained, as applicable, in accordance with the Plans and Specifications, together with all
Collateral used or useful in connection therewith. Each Project shall be a cinema committed to a first class quality experience
to include film, food, wine and liquor, and service for customers with core features including 40 to 52 seat auditoriums, (full
recline) seating, and food and beverage offering available before, during and/or after film screenings, a bowling alley containing
10 to 24 lanes, and up to a 200 seat restaurant.

 

“Scheduled
Completion Date” means, as to each Project, the date by which such Project is to be completed and open for business,
and shall be no later than (i) as to all Existing Projects, May 1, 2011; (ii) as to each Renovation Project, twelve (12) months
after the initial Advance for such Renovation Project; (iii) as to all other Projects that are not Renovation Projects or Existing
Projects, fifteen (15) months after the initial Advance for such Project, subject to reasonable extensions for Permitted Force
Majeure Delays, with such date to be certified by Borrower and Agent Lender upon the initial advance for each Project other than
the first Project by execution of the form attached hereto as Exhibit E.

 

“Title
Policies” means, collectively, each of the mortgagee title insurance policies issued by a Title Company for a
Project in standard ALTA form insuring (i) the Borrower or any Borrower Subsidiary’s leasehold interest in an amount equal
to the total amount of the Project Development Budget for such Project, and (ii) the Lien on the leasehold interest of the Borrower
or any Borrower Subsidiary created by the Mortgage, in form reasonably satisfactory to Agent Lender and in an amount equal to
the principal amount of the Project Tranche for such Project; provided, however, the Title Policy for each Existing Project shall
not be less than the amount of the Project Tranche identified in the Original Loan Agreement.

 

    -4-

     

    

 

		(ii)	The
                                         following definitions are hereby added to Section 1.1 of the Loan Agreement:

 

“Existing
Austin Project” means the existing, operating Project located at 3225 Amy Donovan Plaza, Austin, Texas.

 

“Existing
Fairview Project” means the existing, operating Project located at 321 Town Place, Fairview, Texas.

 

“Existing
Pasadena Project” means the existing, operating Project located at the One Colorado Shopping Center in Pasadena,
California.

 

“Existing
Redmond Project” means the existing, operating Project located at 16451 NE 74th Street, Redmond, Washington.

 

“Existing
Scottsdale Project” means the existing, operating Project located at 15257 N. Scottsdale Rd., Scottsdale, Arizona.

 

“Pasadena
Renovation Project” means the Renovation Project to the Existing Pasadena Project. 

 

“Renovation
Projects” means the renovations and reconfigurations to be completed in 2018 to the Existing Pasadena Project,
the Existing Redmond Project, the Existing Scottsdale Project, the Existing Fairview Project and the Existing Austin Project,
in accordance with the Plans and Specifications submitted to and approved by Agent Lender in conjunction therewith.

 

(b) Repayment
of Loan. Section 2.4(b)(3)(i) – (ii) of the Loan Agreement is hereby deleted in its entirety and the following inserted
in lieu thereof:

 

(i) With
respect to the Tranche 3 Committed Amount Advanced to Borrower in connection with the Existing Projects and Planned Projects (for
clarification such Advances do not include any amounts Advanced or to be Advanced in conjunction with the Renovation Projects)
commencing on January 1, 2012, and on each Scheduled Interest Payment Date thereafter through and including the Scheduled Interest
Payment Date immediately preceding the Maturity Date, all accrued but unpaid interest on the outstanding principal balance of
all Advances of the Tranche 3 Committed Amount Advanced in connection with such Existing Projects and Planned Projects shall be
due and payable. 

 

    -5-

     

    

 

(ii) With
respect to the Tranche 3 Committed Amount, being that portion of the outstanding principal balance of the Loan to be Advanced
to Borrower in connection with a Future Project or Renovation Project, interest shall be payable on Advances of such Tranche 3
Committed Amount on a Project Tranche by Project Tranche basis as follows: on the first Scheduled Interest Payment Date following
the earlier to occur of (1) the date which is six (6) months following the opening of a Future Project or re-opening of a Renovation
Project funded by any proceeds of the Project Tranche designated for such Future Project or Renovation Project, as applicable,
or (2) the date which is twenty-one (21) months following the initial Advance of the Project Tranche designated for such Future
Project or Renovation Project, as applicable, and on each Scheduled Interest Payment Date thereafter through and including the
Scheduled Interest Payment Date immediately preceding the Maturity Date, all accrued but unpaid interest on the outstanding
principal balance of all Advances of the Project Tranche designated for such Future Project or Renovation Project shall be due
and payable. 

 

(c) Reallocation
of Committed Amount. Section 3.3(c) of the Loan Agreement is hereby deleted in its entirety and the following inserted
in lieu thereof:

 

(c) Once
a Project Development Budget for an Approved Project is approved by Agent Lender, an amount equal to eighty percent (80%) of the
total remaining costs to develop the Project as shown on such Project Development Budget shall constitute the “Project Tranche”
applicable thereto. The parties anticipate that changes to Project Development Budgets may be desired by Borrower in the course
of developing a Project through reallocations among line items, cost-savings or cost overruns. Such changes to Project Development
Budgets may be made by Borrower with prior notice to Agent Lender, but without Agent Lender approval or consent as provided in
Section 4.1(f) hereof. Notwithstanding the foregoing, any changes to the amount of a Project Tranche (either increases or decreases)
shall be subject to Agent Lender’s prior written consent, which consent shall not be unreasonably withheld as long as such
changes will not result in a negative Available Committed Amount and Agent Lender reasonably believes the new proposed Project
Tranche for the Project remains sufficient to permit the completion of the Project. In the event the Agent Lender consents to
any modification to a Project Tranche amount, the Available Committed Amount will be adjusted upward or downward accordingly.
To the extent that Project Development Budget changes by Borrower result in increased Project costs for which there is no Available
Committed Amount sufficient to permit such an increase in the Project Tranche, Borrower shall be responsible for paying the full
amount of such Deficiency, as hereinafter provided. To the extent an approved modification to an existing Project Tranche amount
results in (i) an increase to the Available Committed Amount with respect to Advances for an Existing Project or Planned Project,
the amount of such increase shall then be available for other Existing Projects or Planned Projects, subject, however, to appropriate
and acceptable adjustments to the Project Development Budgets for such other Existing Projects or Planned Projects, (ii) an increase
to the Available Committed Amount with respect to Advances for a Future Project, the amount of such increase shall then be available
for other Future Projects, subject, however, to appropriate and acceptable adjustments to the Project Development Budgets for
such other Future Projects, or (iii) an increase to the Available Committed Amount with respect to Advances for a Renovation Project,
the amount of such increase shall then be available for other Renovation Projects, subject, however, to appropriate and acceptable
adjustments to the Project Development Budgets for such other Renovation Projects.

 

    -6-

     

    

 

(d) Disbursement
Procedure. Section 4.1(b)(2) of the Loan Agreement is hereby deleted in its entirety and the following inserted in lieu
thereof:

 

(2) as
to all Projects in the aggregate, the lesser of (i) the Tranche 3 Committed Amounts less any Tranche 3 Committed
Amount previously advanced for any Existing Project, Planned Project, Future Project, Renovation Project, the Village Note Payoff
Advance and Operating Expense Advance and (ii) the aggregate principal amount of all established Project Tranches for Existing
Projects, Planned Projects, Future Projects and Renovation Projects, as the same may be adjusted from time to time pursuant to
Section 3.3(c) above, less any sums not identified in any Project Development Budget (as the same may be amended as permitted
herein) but which are reasonably identified by the Agent Lender as amounts required to complete the development of any Existing
Projects, Planned Projects or Renovation Projects (i.e., any “overrun” amounts), however, an Advance for any overrun
amount is subject to the Agent Lender’s approval, in its sole discretion. 

 

(e) Construction
of Improvements. The first paragraph of Section 6.23 of the Loan Agreement is hereby deleted in its entirety and the following
inserted in lieu thereof:

 

Construct
Improvements and Complete the Projects. Commence construction, reconfiguration and/or renovation, as applicable, of each of
the Existing Projects, Planned Projects, Renovation Projects and Future Projects within sixty (60) days following the initial
Advance of the corresponding Project Tranche, but in any event to commence construction of each of the Projects no later than
the expiration of the Commitment Period; cause each set of Improvements to be constructed substantially in accordance with the
Plans and Specifications therefor, and in compliance with all applicable restrictive covenants, zoning ordinances, setback requirements,
building codes and governmental regulations, and so as not to encroach upon or overhang into any easement or right-of-way; cause
such construction to proceed continuously and permit no cessation of work; and complete each of the Projects and obtain all required
Permits and a certificate of occupancy or other final governmental approval of such Improvements for their intended use on or
before the Scheduled Completion Date therefor, time being of the essence.

 

The
completion of each of the Projects and the payment of all costs and expenses incidental thereto shall be evidenced by the Borrower’s
delivery, within ninety (90) days of the Scheduled Completion Date for each applicable Project, to the Agent Lender of a certificate
signed by the Borrower stating that:

 

(1) the
acquisition, construction, installation and equipping of such Project has been completed in all material respects substantially
in accordance with the Plans and Specifications;

 

    -7-

     

    

 

(2) the
Borrower shall have received and made all Permits, approvals, consents, licenses (including environmental permits) and authorizations
of, and registrations, filings and recordings with, and declarations to, and other actions by governmental authorities, the lack
of which if not issued, granted or otherwise in existence, would materially impair commencement of operation of the Project;

 

(3) all
amounts due for labor, materials, supplies and other costs incurred in connection with the acquisition, construction, installation
and equipping of the Project have been paid except for amounts which the Borrower is entitled to retain pursuant to its respective
purchase orders or for amounts being disputed by the Borrower in good faith as being due and payable, which amounts shall be set
forth in the certificate and held in the disbursement account established for such Project until payment is due.

 

(f) Borrower
Parties’ Information. The following is hereby added as Section 9.21 of the Loan Agreement:

 

9.21 Business
Updates. In addition to any requirements set forth in this Agreement, Borrower shall provide to Lender, on a monthly basis
during the term of the Loan written updates of (i) any planned, proposed or anticipated changes to its existing business plans
or operations, or (ii) any changed or expected changes to its financial condition that has not been otherwise disclosed in any
required public filings. Notwithstanding the foregoing, Lender acknowledges and agrees that it cannot buy or sell the securities
of Parent on the basis of material, non-public information about Borrower, Parent or any other Affiliate of Borrower.

 

(g) Advance
Date Certification Form. Exhibit
E of the Loan Agreement is hereby deleted in its entirety and the Advance Date Certification Form attached as Exhibit A
to this Agreement is hereby inserted in lieu thereof.

 

3. Release
of Lenders.  For and in consideration of Lenders’ agreement to enter into and execute this Agreement, and without
any contingency, precondition, or condition subsequent, each of the Borrower Parties, for himself/herself/itself and his/her/its
heirs, executors, trustees, successors and assigns, does hereby fully and forever release, relinquish, discharge, settle and compromise
any and all claims, cross-claims, counterclaims, causes, damages and actions of every kind and character, and all suits, costs,
damages, expenses, compensation and liabilities of every kind, character and description, whether direct or indirect, known or
unknown, disclosed or hidden, in law or in equity, which he/she/it had or will have against Lenders, and/or any of Lenders’
affiliates, agents, representatives, officers, employees or contractors on account of, arising, or resulting from, or in any manner
incidental to, any and every thing or event occurring or failing to occur at any time in the past up to and including the date
hereof, including, without limitation, any claims relating to the Note, the Loan Agreement, the Mortgages or any other Loan Documents,
any act or event relating to Lenders’ (or its designees’) possession or use of any collateral securing the Note at any time,
the indebtedness evidenced by the Note, any act or event relating to the Lenders’ administration of the Loan Agreement,
the Note or any other Loan Documents.

 

    -8-

     

    

 

4. Authorization.
Borrower Parties represent and warrant to Lenders that each of them has full power and authority to enter into this Agreement;
that the execution and delivery of this Agreement have been authorized by all requisite action; and that this Agreement constitutes
the valid and legally binding obligation of Borrower Parties enforceable in accordance with its terms. This Agreement is not intended
to be, nor shall it be construed to create, a novation or accord and satisfaction, and the Loan Agreement and the indebtedness
represented thereby and by the Note shall continue in full force and effect.

 

5. Ratification.
Except as herein amended, the Loan Agreement is hereby ratified and affirmed. Execution of this Agreement shall not alter
or diminish any rights of Lenders or obligations of Borrower Parties under any other note, instrument, or obligation secured by
or entitled to the benefits of the Loan Agreement or the Note, including, without limitation, any of the other Loan Documents.

 

6. No
Offsets or Defenses. Borrower Parties confirm that they have no offsets or defenses with respect to their obligations
pursuant to the Loan Agreement and Note or any of the other Loan Documents.

 

7. Events
of Default. Borrower Parties represent and warrant that, as of the Effective Date, there are no Events of Default under
the Loan Agreement, Note or any of the other Loan Documents.

 

8. No
Novation or Modification of Loan Documents, etc. Borrower Parties acknowledge and agree that (a) this Agreement is not
intended to be, and shall not be deemed or construed to be, a novation; (b) except as expressly provided in this Agreement or
any other written agreements with respect to the Loan Documents, no other modifications, amendments, or waivers of other Loan
Documents are implied or intended; and (c) Lender reserves all available rights and remedies, at law, in equity and under any
the Loan Documents.

 

9. Expenses.
Borrower Parties agree to pay to Lenders all expenses, including Lenders’ attorney’s fees, incurred by Lenders in
connection with the negotiation and preparation of this Agreement.

 

10. Counterparts.
This Agreement may be executed in two or more counterparts, each of which when executed and delivered shall constitute
an original, but all such counterparts together shall be deemed to be one and the same instrument.

 

11. Severability;
Complete Agreement. If any provisions of this Agreement or the application thereof to any person or circumstance shall
be invalid or unenforceable to any extent, the remainder of this Agreement and the application of such provisions to other persons
or circumstances shall not be affected thereby and shall be enforced to the greatest extent permitted by law. The Loan Agreement
and the Note, together with the other Loan Documents, as amended, constitute the full and complete agreement of the Borrower Partiers
and Lenders with respect to the indebtedness evidenced by the Note and Loan Agreement.

 

    -9-

     

    

 

12. Successors
and Assigns. This Agreement shall inure to the benefit of and be binding upon the parties hereto, and their respective
successors and assigns.

 

13. Waiver
of Jury Trial. THE BORROWER PARTIES AND LENDERS HEREBY WAIVE ANY RIGHT THAT ANY OF THEM MAY HAVE TO A TRIAL BY JURY ON ANY
CLAIM, COUNTERCLAIM, SETOFF, DEMAND, ACTION OR CAUSE OF ACTION (A) ARISING OUT OF OR IN ANY WAY RELATED TO THIS AGREEMENT, THE
OTHER LOAN DOCUMENTS, OR THE LOAN, OR (B) IN ANY WAY CONNECTED WITH OR PERTAINING OR RELATED TO OR INCIDENTAL TO ANY DEALINGS
OF THE LENDERS AND ANY BORROWER PARTY WITH RESPECT TO THE LOAN DOCUMENTS OR IN CONNECTION WITH THIS AGREEMENT OR THE EXERCISE
OF ANY PARTY’S RIGHTS AND REMEDIES UNDER THIS AGREEMENT, OR OTHERWISE, OR THE CONDUCT OR THE RELATIONSHIP OF THE PARTIES HERETO,
IN ALL OF THE FOREGOING CASES WHETHER NOW EXISTING OR HEREAFTER ARISING AND WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE. THE
BORROWER PARTIES AND LENDERS AGREE THAT ANY OF THEM MAY FILE A COPY OF THIS AGREEMENT WITH ANY COURT AS WRITTEN EVIDENCE OF THE
KNOWING, VOLUNTARY, AND BARGAINED AGREEMENT OF THE BORROWER PARTIES AND LENDERS IRREVOCABLY TO WAIVE THEIR RIGHTS TO TRIAL BY
JURY AS AN INDUCEMENT OF THE PARTIES TO ENTER INTO THIS AGREEMENT, AND THAT, TO THE EXTENT PERMITTED BY APPLICABLE LAW, ANY DISPUTE
OR CONTROVERSY WHATSOEVER (WHETHER OR NOT MODIFIED HEREIN) BETWEEN THE BORROWER PARTIES AND THE LENDERS SHALL INSTEAD BE TRIED
IN A COURT OF COMPETENT JURISDICTION BY A JUDGE SITTING WITHOUT A JURY.

 

[Remainder
of Page Intentionally Left Blank]

 

    -10-

     

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and delivered as of the year and date first
above written.

 

	 	BORROWER PARTIES:
	 	 	 
	 	IPIC-GOLD CLASS ENTERTAINMENT, LLC
	 	 	 
	 	By:	/s/ Hamid Hashemi
	 	Print Name: 	Hamid Hashemi
	 	Title: 	Managing Member

 

STATE
OF FLORIDA

COUNTY
OF PALM BEACH

 

I,
the undersigned, a Notary Public in and for said County, in said State, hereby certify that HAMID HASHEMI, whose name as Managing
Member of IPIC-GOLD CLASS ENTERTAINMENT, LLC, a Delaware limited liability company, is signed to the foregoing instrument, and
who is known to me, acknowledged before me on this day that, being informed of the contents of the instrument, he, as such officer
and with full authority, executed the same voluntarily for and as the act of said limited liability company, on the day the same
bears date.

 

Given
under my hand and seal this 20th day of June, 2018.

 

	 	/s/
Dawn Nelson
	 	Notary
Public
	 	My
commission expires: 12/5/2020

 

    -11-

     

    

 

	 	IPIC GOLD CLASS HOLDINGS LLC
	 	 	 
	 	By:	/s/ Hamid Hashemi
	 	Print Name:	Hamid Hashemi
	 	Title:	Managing Member

 

STATE
OF FLORIDA

COUNTY
OF PALM BEACH

 

I,
the undersigned, a Notary Public in and for said County, in said State, hereby certify that HAMID HASHEMI, whose name as Managing
Member of IPIC-GOLD CLASS HOLDINGS LLC, a Delaware limited liability company, is signed to the foregoing instrument, and who is
known to me, acknowledged before me on this day that, being informed of the contents of the instrument, he, as such officer and
with full authority, executed the same voluntarily for and as the act of said limited liability company, on the day the same bears
date.

 

Given
under my hand and seal this 20th day of June, 2018.

 

	 	/s/
Dawn Nelson
	 	Notary
Public
	 	My
commission expires: 12/5/2020

 

    -12-

     

    

 

	 	IPIC-GOLD CLASS TEXAS, LLC
	 	 	 
	 	By:	/s/ Hamid Hashemi
	 	Print Name:	Hamid Hashemi
	 	Title:	Managing Member

 

STATE
OF FLORIDA

COUNTY
OF PALM BEACH

 

I,
the undersigned, a Notary Public in and for said County, in said State, hereby certify that HAMID HASHEMI, whose name as Managing
Member of IPIC-GOLD CLASS TEXAS, LLC, a Delaware limited liability company, is signed to the foregoing instrument, and who is
known to me, acknowledged before me on this day that, being informed of the contents of the instrument, he, as such officer and
with full authority, executed the same voluntarily for and as the act of said limited liability company, on the day the same bears
date.

 

Given
under my hand and seal this 20th day of June, 2018.

 

	 	/s/ Dawn
    Nelson
	 	Notary Public
	 	My commission expires: 12/5/2020

 

    -13-

     

    

 

	 	IPIC MEDIA, LLC
	 	 	 
	 	By:	/s/ Hamid Hashemi
	 	Print Name:	Hamid Hashemi
	 	Title:	Managing Member

 

STATE
OF FLORIDA

COUNTY
OF PALM BEACH

 

I,
the undersigned, a Notary Public in and for said County, in said State, hereby certify that HAMID HASHEMI, whose name as Managing
Member of IPIC MEDIA, LLC, a Delaware limited liability company, is signed to the foregoing instrument, and who is known to me,
acknowledged before me on this day that, being informed of the contents of the instrument, he, as such officer and with full authority,
executed the same voluntarily for and as the act of said limited liability company, on the day the same bears date.

 

Given
under my hand and seal this 20th day of June, 2018.

 

	 	/s/ Dawn
    Nelson
	 	Notary Public
	 	My commission expires: 12/5/2020

 

    -14-

     

    

 

	 	DELRAY BEACH HOLDINGS, LLC
	 	 	 
	 	By:	/s/ Hamid Hashemi
	 	Print Name:	Hamid Hashemi
	 	Title:	Managing Member

 

STATE
OF FLORIDA

COUNTY
OF PALM BEACH

 

I,
the undersigned, a Notary Public in and for said County, in said State, hereby certify that HAMID HASHEMI, whose name as Managing
Member of DELRAY BEACH HOLDINGS, LLC, a Delaware limited liability company, is signed to the foregoing instrument, and who is
known to me, acknowledged before me on this day that, being informed of the contents of the instrument, he, as such officer and
with full authority, executed the same voluntarily for and as the act of said limited liability company, on the day the same bears
date.

 

Given
under my hand and seal this 20th day of June, 2018.

 

	 	/s/ Dawn
    Nelson
	 	Notary Public
	 	My commission expires: 12/5/2020

 

    -15-

     

    

 

	 	BAY COLONY REALTY, LLC
	 	 	 
	 	By:	/s/ Hamid Hashemi
	 	Print Name:	Hamid Hashemi
	 	Title:	Managing Member

 

STATE
OF FLORIDA

COUNTY
OF PALM BEACH

 

I,
the undersigned, a Notary Public in and for said County, in said State, hereby certify that HAMID HASHEMI, whose name as Managing
Member of BAY COLONY REALTY, LLC, a Delaware limited liability company, is signed to the foregoing instrument, and who is known
to me, acknowledged before me on this day that, being informed of the contents of the instrument, he, as such officer and with
full authority, executed the same voluntarily for and as the act of said limited liability company, on the day the same bears
date.

 

Given
under my hand and seal this 20th day of June, 2018.

 

	 	/s/ Dawn
    Nelson
	 	Notary Public
	 	My commission expires: 12/5/2020

 

    -16-

     

    

 

	 	LENDERS:
	 	 	 
	 	THE
    TEACHERS’ RETIREMENT SYSTEM OF ALABAMA
	 	 	 
	 	By:	/s/ Dr. David
    G. Bronner
	 	Print Name:
    	Dr. David
    G. Bronner                  
	 	Title: 	CEO

 

STATE
OF ALABAMA

COUNTY
OF MONTGOMERY

 

I,
the undersigned, a Notary Public in and for said County, in said State, hereby certify that Dr. David G. Bronner, whose name as
CEO of the Teachers’ Retirement System of Alabama is signed to the foregoing Agreement, and who is known to me, acknowledged
before me on this day that, being informed of the contents of the Agreement, he, as such officer and with full authority, executed
the same voluntarily for and as the act of said body corporate of the State of Alabama acting in its capacity as aforesaid.

 

Given
under my hand and official seal this 22nd day of June, 2018.

 

	 	/s/ Debra
    Dahl
	 	Notary Public
	 	My commission expires: 1/23/19

 

    -17-

     

    

 

	 	THE
    EMPLOYEES’ RETIREMENT SYSTEM OF ALABAMA
	 	 	 
	 	By:	/s/ Dr. David
    G. Bronner
	 	Print Name:
    	Dr. David
    G. Bronner                        
	 	Title: 	CEO

 

STATE
OF ALABAMA

COUNTY
OF MONTGOMERY

 

I,
the undersigned, a Notary Public in and for said County, in said State, hereby certify that Dr. David G. Bronner, whose name as
CEO of the Employees’ Retirement System of Alabama is signed to the foregoing Agreement, and who is known to me, acknowledged
before me on this day that, being informed of the contents of the Agreement, he, as such officer and with full authority, executed
the same voluntarily for and as the act of said body corporate of the State of Alabama acting in its capacity as aforesaid.

 

Given
under my hand and official seal this 22nd day of June, 2018.

 

	 	/s/ Debra
    Dahl
	 	Notary Public
	 	My commission expires: 1/23/19

 

    -18-

     

    

 

EXHIBIT
A

 

Revised
Advance Date Certificate Form

 

Advance
Date Certification Form

(for
Planned Projects, Renovation Projects and Future Projects)

 

[Planned]
[Renovation] Project Location:______________________________

 

Pursuant
to that certain Second Amended and Restated Master Loan and Security Agreement dated February 1, 2018 (together with any amendments
thereto, the “Loan Agreement”) by and among IPIC-GOLD CLASS ENTERTAINMENT, LLC, a Delaware limited liability
company (the “Borrower”) IPIC GOLD CLASS HOLDING LLC, a Delaware limited liability company (“Holdings”),
the Borrower Subsidiaries party thereto, and THE TEACHERS’ RETIREMENT SYSTEM OF ALABAMA, a body corporate of
the State of Alabama created under Section 16-25-1 et. seq., Code of Alabama (1975), as amended (the “TRS”
or “Agent Lender”), and THE EMPLOYEES’ RETIREMENT SYSTEM OF ALABAMA, a body corporate of the
State of Alabama created under Section 36-27-1 et. seq., Code of Alabama (1975), as amended (the “ERS”) (the
TRS and the ERS are sometimes herein referred to individually as a “Lender” and collectively as the “Lenders”),
Borrower and Agent Lender desire to certify the following below as of the date hereof. Capitalized terms used herein and
not otherwise defined shall have the meanings given to such terms in the Loan Agreement.

 

Borrower
and Agent Lender hereby agree and certify as follows:

 

1. The
initial Advance of the Loan for the Project described above occurred on __________________, 20__ (the “Initial Advance
Date”).

 

2. Based
on such Initial Advance Date, the Scheduled Completion Date for this particular
Project will be_______________________ (the date which is fifteen (15) months from the Initial
Advance Date if a Future Project or the date which is twelve (12) months from Initial Advance Date for a Renovation Project).

 

3. [INSERT
FOR FUTURE PROJECTS AND RENOVATION PROJECTS ONLY AS THIS IS ONLY APPLICABLE TO TRANCHE 3 ADVANCES] Based on such Initial
Advance Date and pursuant to Section 2.4(b) of the Loan Agreement, payments of accrued interest with respect to this particular
Project shall commence on the first Scheduled Payment Date following the earlier of (1) the date which is six (6) months following
the opening or re-opening of the Project, as applicable, or (2) (the date which is twenty-one (21) months following the initial
Advance for this Project).

 

[Remainder
of Page Intentionally Left Blank]

 

    -19-

     

    

 

Certified
and agreed by Borrower and Agent Lender as of this _____ day of __________, 20___.

 

	 	BORROWER:
	 	 	 
	 	IPIC-GOLD CLASS ENTERTAINMENT, LLC
	 	 	 
	 	By:	          
	 	Print Name:	 
	 	Its:	 
	 	 	 
	 	AGENT LENDER:
	 	 	 
	 	THE TEACHERS’ RETIREMENT SYSTEM OF ALABAMA
	 	 	 
	 	By:	 
	 	Print Name:	 
	 	Its:	 

 

 

-20-

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