Document:

CONFIDENTIAL
PRIVATE PLACEMENT MEMORANDUM

 

Target
Offering: 10,000,000 Shares

of
COMMON STOCK

at
$0.50 per Share

 

Trxade
Group, Inc., a Delaware corporation (“Trxade” or the “Company”), is offering (the “Offering”)
for sale shares of common stock of the Company (the “Offered Shares”) to persons who qualify as “accredited
investors”, as such term is defined in Rule 501(a) of Regulation D of the Securities Act of 1933, as amended (the “Securities
Act”). We are offering the Shares on a “best efforts” basis with no prescribed minimum. See “Summary
of the Offering. There is no minimum number of shares that must be sold for the offering to close.

 

The
common stock of the Company (the “Common Stock) is listed on the OTCQB and the Over the Counter Bulletin Board under
the symbol “TRXD”. The price for the Common Stock on the OTCQB on September 16, 2019 was $1.20 per share.
The price of the Offered Shares will be Fifty Cents ($0.50) per share.

 

THE
SECURITIES OFFERED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OR UNDER THE SECURITIES LAWS OF ANY STATE OR OTHER
JURISDICTION AND ARE BEING OFFERED AND SOLD SOLELY WITHIN THE UNITED STATES EXCLUSIVELY TO ACCREDITED INVESTORS (AS DEFINED IN
RULE 501(a) OF REGULATION D UNDER THE SECURITIES ACT) IN RELIANCE UPON EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES
ACT AND SUCH LAWS.

 

Further,
we were previously a shell company, AND therefore the exemption offered pursuant to Rule 144 is not IMMEDIATELY available. Notwithstanding
the foregoing, HOWEVER, BECAUSE WE have filed current “Form 10 information” with the SEC reflecting our status as
an entity that is no longer a shell company, if (i) we REMAIN subject to the reporting requirements of section 13 or 15(d) of
the Exchange Act; AND (ii) have filed all reports and other materials required to be filed by section 13 or 15(d) of the Exchange
Act, as applicable, during the preceding 12 months; then the securities issued in connection with this Offering may be sold subject
to Rule 144 and other applicable securities laws after one year has elapsed from the date that we fileD “Form 10 information”
with the SEC.

 

    	Trxade Group, Inc.
Offering Memorandum and Subscription Booklet
	Page i

    	 

    

 

THIS
MEMORANDUM SHALL NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THE SECURITIES IN ANY JURISDICTION IN WHICH
SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL. THE SECURITIES OFFERED HEREBY HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE U.S.
SECURITIES AND EXCHANGE COMMISSION, ANY STATE SECURITIES COMMISSION OR ANY OTHER REGULATORY AUTHORITY. ANY REPRESENTATION TO THE
CONTRARY IS UNLAWFUL.

 

The
securities offered hereby are speculative and involve a high degree of risk, and should not be purchased by anyone who cannot
afford the loss of the entire amount of his or her investment. See “Risk Factors,”
from our Registration Statement on Form S-1, as amended (the “Form S-1”), declared effective with the Securities and
Exchange Commission (the “SEC”) on July 1, 2019, our Annual Report on Form 10-K for the period ended December 31,
2018 (the “Form 10-K”) and all subsequent Quarterly Reports on Form 10-Q (collectively, the Form S-1 and the Form
10-K, Form 10-Q, and all other public filings with the SEC are referred to hereinafter as the “Public Filings”). The
RISK FACTORS from our Public Filings and other information therein are incorporated herein by reference. This offering is not
complete without reviewing the information presented in these documents. You can review these documents free of charge at the
SEC website, www.SEC.gov.

 

The
date of this Memorandum September 16, 2019

 

This
Private Placement Memorandum (the “Memorandum”) is confidential and is intended solely for the prospective investor
to whom it is delivered and does not constitute an offer to any other person or to the public generally to subscribe for or purchase
any of the Offered Shares. The S-1 is only correct as of dates specified therein, unless amended. Our Annual Report on Form 10-K
for the year ended December 31, 2018 was filed with the SEC in March 2019. Our Form 10-Q for the Quarter Ended June 30, 2019 was
filed in July 26, 2019. Trxade is under no obligation to update these documents other than required in our public reports filed
with the SEC. Certain information contained in this Memorandum is proprietary to Trxade and is being submitted to prospective
investors solely for their confidential use in evaluating a potential investment in the Offered Shares. Any duplication or redistribution
of this document or dissemination of the confidential or proprietary information contained herein without the express consent
of Trxade is strictly prohibited. Delivery of this Memorandum does not under any circumstances constitute a representation or
imply that information set forth or incorporated by reference herein is correct as of any time subsequent to the date hereof.

 

Certain
statements contained in this Memorandum and the Public Filings, including the exhibits thereto, constitute forward-looking statements.
The use of any of the words “anticipate”, “intend”, “continue”, “estimate”, “expect”,
“may”, “will”, “project”, “should”, “believe” and similar expressions
are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other
factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements.
The Company believes that the expectations reflected in those forward-looking statements are reasonable but no assurance can be
given that these expectations will prove to be correct and such forward-looking statements included in this Memorandum and the
Public Filings, including the exhibits thereto, should not be unduly relied upon. These statements speak only as of the date of
this Memorandum, the Public Filings, or as of the date made, as applicable.

 

    	Trxade Group, Inc.
Offering Memorandum and Subscription Booklet
	Page ii

    	 

    

 

These
statements, as well as information otherwise provided to prospective investors, are not guarantees of future performance and are
subject to risks, uncertainties and assumptions that are difficult to predict and may be beyond the Company’s control. Therefore,
actual results could differ materially from those expressed or anticipated. These risks and uncertainties include the following,
and are further detailed under “Risk Factors” in our Form S-1, the Form 10-K, and the Form 10-Q. Major risks include,
but are not limited to:

 

	 	●	If
    we do not obtain additional financing, our business, prospects, financial condition and results of operations will be adversely
    affected;
	 	●	We
    are subject to the “penny stock” rules which will adversely affect the liquidity of our common stock;
	 	●	The
    market price for our common stock is particularly volatile, given our status as a relatively unknown company with a small
    and thinly quoted public float, limited operating history and lack of significant net revenues, which could lead to wide fluctuations
    in our share price;
	 	●	A
    significant number of our shares are eligible for sale and their sale or potential sale may depress the market price of our
    common stock;
	 	●	We
    have a limited operating history and may incur losses for an indeterminate period of time;
	 	●	There
    is a limited market for our shares and our common stock is thinly quoted, so you may be unable to sell at or near bid prices
    or at all if you need to sell your shares to raise money or otherwise desire to liquidate your shares;
	 	●	Our
    Chief Executive Officer and President are also our two largest stockholders, and as a result they can exert control over us
    and have actual or potential interests that may diverge from yours;
	 	●	Problems
    that the Company may face in raising additional capital;
	 	●	Uncertainty
    of market acceptance of the Company’s products and services;
	 	●	Uncertainty
    as to the completion of announced products and services;
	 	●	Dependence
    on key personnel; and
	 	●	Infringement
    upon proprietary technology by competitors.

 

    	Trxade Group, Inc.
Offering Memorandum and Subscription Booklet
	Page iii

    	 

    

 

TERMS
OF THE OFFERING

 

The
Company does not undertake any obligation to update or revise any forward-looking statements contained herein for any reason,
even if new information becomes available or other events occur in the future.

 

Each
prospective investor may make inquiries of Trxade with respect to its business or any other matters relating to Trxade and an
investment in the Offered Shares, and may obtain any additional information which such person deems relevant to an investment
decision in order to obtain, clarify or verify information regarding Trxade, whether or not contained in this Memorandum or the
Public Filings (to the extent that Trxade possesses such information or can acquire it without unreasonable effort or expense).
In connection with such inquiry, documents which a prospective investor reasonably wishes to review will be made available for
inspection or copying upon request, subject to execution of appropriate confidentiality agreements to maintain such information
in confidence and to return the same to the Company if the recipient does not purchase any of the securities offered hereby. Any
such inquiries or requests for additional information or documents should be made in writing to Trxade, addressed as follows:
Trxade Group, Inc., at 3480 Land O Lakes Blvd, Land O Lakes, FL -34639, Attention: Suren Ajjarapu, CEO. Any authorized response
by Trxade will be in writing.

 

No
dealer, salesperson or any other person, other than as provided for herein, has been authorized by the Company to give any information
or to make any representations other than those contained in this Memorandum and the Public Filings in connection with the Offering
made hereby, and if given or made, such information or representation must not be relied upon as having been authorized by Trxade.
This Memorandum does not contain any financial projections relating to the future financial performance of Trxade, and management
of Trxade has not prepared any such projections for use by investors in connection with this Offering. No person is authorized
to provide any financial projections or to make any representations regarding such projections in connection with the Offering
made hereby, and if given or made, such projections or representations must not be relied upon. Trxade disclaims any and all responsibility
for representations or warranties, express or implied, not set forth in this Memorandum or the Public Filings or made by an executive
officer of Trxade in writing.

 

This
Offering is subject to withdrawal, cancellation or modification by Trxade without notice. Trxade reserves the right, in its sole
discretion, to reject any subscription or offer to purchase the Offered Shares, in whole or in part, for any reason, or to elect
to sell less than the number of the Offered Shares offered hereby.

 

Prospective
investors are not to construe the contents of this Memorandum or the Public Filings as legal, investment or tax advice. Prospective
investors should be aware that the purchase of the securities offered hereby might have tax consequences in the United States.
Such consequences for investors who are resident in, or citizens of, the United States are not described in this Memorandum or
the Public Filings. Prospective investors should consult their advisors as to legal, investment, tax and related matters concerning
any proposed purchase of the Offered Shares and to assist such investor in making an investment decision. In making an investment
decision, investors must rely on their own examination of Trxade and the terms of the Offering, including the merits and risks
involved. Investors should be aware that they may be required to bear the financial risks of this investment for an indefinite
period of time.

 

    	Trxade Group, Inc.
Offering Memorandum and Subscription Booklet
	Page iv

    	 

    

 

This
Memorandum contains summaries of certain provisions of documents relating to the purchase of the Offered Shares, as well as summaries
of various provisions of relevant statutes and regulations. Such summaries do not purport to be complete and are qualified in
their entirety to reference to the texts of the original documents, statutes and regulations that are available upon request.

 

This
Memorandum, including the Public Filings and all exhibits hereto and thereto, should be read in its entirety by each prospective
investor prior to a decision to subscribe for the Offered Shares or the completion of subscription documents.

 

The
shares of Common stock constituting the Offered Shares have not been registered under the Securities Act and are being offered
in reliance upon the exemptions from registration set forth in Regulation D promulgated thereunder. Offered Shares are being offered
and will be sold only to “accredited investors” as defined in Rule 501(a) of Regulation D promulgated under the Securities
Act and any applicable state securities law. Each subscriber will be required to complete and execute a Certificate of Accredited
Investor Status and a Subscription Agreement in the forms of Exhibit
A, a and EXHIBIT B, respectively, attached hereto, to represent and to establish to the satisfaction of
Trxade that such subscriber meets one or more of the criteria for accredited investors. In addition, each subscriber will be required
to represent that the Offered Shares will be purchased solely for his or her own account, for investment purposes only, and not
with a view to, or for resale in connection with, any distribution. Transfer of the Offered Shares may be limited. Trxade reserves
the right to refuse a subscription for Offered Shares in its sole discretion for any reason including a concern that the prospective
investor may not meet the requirements for accredited investors or that the Offered Shares are otherwise an unsuitable investment
for the prospective investor.

 

    	Trxade Group, Inc.
Offering Memorandum and Subscription Booklet
	Page v

    	 

    

 

INDEX

 

General:

 

This
Subscription Booklet contains documents that must be READ, EXECUTED and RETURNED to Trxade Group, Inc. (the “Company”)
if you wish to invest in the Company. You should consult with an attorney, accountant, investment advisor or other advisor regarding
an investment in the Company and its suitability for you.

 

If
you decide to invest, please fill out, sign and return the documents pertinent to you, as listed under each of the headings below.

 

For
individuals, the documents to be returned are:

 

	 	●	Exhibit
    A: Signature Page of Securities Purchase Agreement; and
	 	 	 
	 	●	Exhibit
    B: Purchaser Questionnaire and Suitability Statement.

 

If
the Securities are to be jointly owned by individuals, the following documents must also be returned:

 

	 	●	Exhibit
    A: Signature Page of Securities Purchase Agreement signed by both owners; and
	 	 	 
	 	●	Exhibit
    B: A Purchaser Questionnaire and Suitability Statement completed by each owner; and

 

For
entities, the documents to be returned are:

 

	 	●	Exhibit
    A: Signature Page of Securities Purchase Agreement;
	 	 	 
	 	●	Exhibit
    B: Purchaser Questionnaire and Suitability Statement; and

 

    	Trxade Group, Inc.
Offering Memorandum and Subscription Booklet
	Page vi

    	 

    

 

Securities
Purchase Procedures

 

The
Company is anticipating offering up to $5,000,000 of Common Stock securities (collectively, the “Securities”)
to accredited investors only. Unless waived by the Company in its sole discretion, the minimum investment in the Company by any
one investor is $100,000. The maximum individual subscription amount shall be determined by the Company on a case-by-case basis
at the Company’s sole discretion. There is no minimum aggregate sale of Securities required for the Company to begin accepting
and closing sales of Securities.

 

The
offering will commence on the date of this Subscription Booklet and will expire on the earlier of the date on which the offering
is fully subscribed or November 1, 2019, unless extended at the discretion of the Company, at the Company’s discretion.
No broker-dealer will act on behalf of the Company in offering or selling the Securities offered hereby. Offers and sales of the
Securities will be made only by Suren Ajjarapu, CEO, who will not receive any commissions or other compensation for such services.

 

It
is contemplated that one or more closings will be held in the offering and that closings may occur on a “rolling”
basis with the Company accepting sales of Securities on an on-going basis during the term of the offering.

 

Prospective
investors wishing to subscribe for Securities will be required to complete, execute and deliver to the Company the investor’s
Securities Purchase Agreement and the other subscription documents outlined above. Each prospective investor will also be required
to deliver (simultaneously with the Securities Purchase Agreement) a certified, cashier’s or other check acceptable to the
Company or wire of readily available funds for such prospective investor’s entire capital contribution. The check should
be payable to “Trade Group, Inc.” Wire instructions will be available upon request.

 

Securities
issued hereunder will be returned as soon as practicable accompanied by the investor’s countersigned Securities Purchase
Agreement. The Company reserves the right to decline any investment in whole or in part or to allot to any prospective investor
less than the amount of Securities subscribed for by such prospective investor.

 

The
Securities will be offered and sold only to “accredited investors” (as defined below) who: (a) represent, among other
things, that they are acquiring the Securities for their own account, for investment only and not with a view toward the resale
or distribution thereof, that they are aware that the Securities have not been registered under the Securities Act of 1933, as
amended (the “Securities Act”), that their transfer rights are restricted by the Securities Act and applicable
state securities laws, and that they are aware of the absence of a market for the Securities; (b) are investors meeting the suitability
standards hereinafter set forth, including status as an “accredited investor”; and (c) have such knowledge and experience
in financial and business matters that they are capable of evaluating the merits and risks of this investment. In this regard,
the Company will require as a general investor suitability standard that each prospective investor represent that such prospective
investor meets these and other standards by executing the Purchase Agreement and completing the Purchaser Questionnaire and Suitability
Statement.

 

An
“accredited investor” is defined under Rule 501 of Regulation D promulgated by the SEC under the Securities Act to
include, among other categories of investors, the following: (a) charitable, educational, literary or similar organizations described
in Section 501(c)(3) of the Internal Revenue Code, corporations, Massachusetts or similar business trusts, or partnerships, not
formed for the specific purpose of acquiring the securities offered, with total assets in excess of $5,000,000; (b) an executive
officer or director of the Company; (c) a natural person whose individual net worth, or joint net worth with such person’s
spouse, at the time of purchase exceeds $1,000,000 (excluding the value of such person’s primary residence and including
certain liabilities relating to such person’s primary residence as set forth in Rule 501 of Regulation D); (d) a natural
person who had an individual income in excess of $200,000 in each of the two most recent years or joint income with such person’s
spouse in excess of $300,000 in each of such years and who has a reasonable expectation of reaching the same income level in the
current year; (e) a trust, not formed for the specific purpose of acquiring the securities offered, with total assets in excess
of $5,000,000 whose purchase is directed by a sophisticated person as defined in Rule 506(b)(2)(ii) of Regulation D; or (f) an
entity (including an IRA) in which all of the equity owners are “accredited investors”. Prospective investors must
also represent that their investment in the Securities is suitable for them upon the basis of all of the facts and circumstances
of their financial situation and needs and their other security holdings.

 

    	Trxade Group, Inc.
Offering Memorandum and Subscription Booklet
	Page vii

    	 

    

 

The
requirements described above represent minimum suitability requirements for prospective investors and the satisfaction of such
standards by a prospective investor does not necessarily mean that the Securities are a suitable investment for such prospective
investor. Each prospective investor should make an independent determination as to whether an investment in the Securities is
appropriate for such prospective investor. The Company may make or cause to be made such further inquiry and obtain such additional
information as it deems appropriate with regard to the suitability of a prospective investor. The Company may reject subscriptions
in whole or in part, in its sole judgment.

 

If
any representation made by a prospective investor or others acting on his, her or its behalf misleads the Company as to the financial
or other circumstances of a particular prospective investor, or if, because of any error or misunderstanding as to such circumstances,
a copy of this Subscription Booklet is delivered to a prospective investor who does not meet the investor suitability standards
set forth above, the delivery of this Subscription Booklet to such prospective investor shall not be deemed to be an offer, and
this Subscription Booklet must be returned to the Company immediately.

 

All
subscription documents (including all signature pages for the Securities Purchase Agreement and completed Purchaser Questionnaire
and Suitability Statement) are to be executed and returned to Suren Ajjarapu, on behalf of Trxade Group, Inc., at the following
address:

 

Trxade
Group, Inc.

3480
Land O Lakes

Blvd, Land O Lakes, FL 34639

Attention:
Suren Ajjarapu, CEO.

 

    	Trxade Group, Inc.
Offering Memorandum and Subscription Booklet
	Page viii

    	 

    

 

Exhibit
A

 

Securities
Purchase Agreement

 

See
attached.

 

    	Trxade Group, Inc.
Offering Memorandum and Subscription Booklet
	

    	 

    

 

TRXADE
GROUP, INC.

 

SECURITIES
PURCHASE AGREEMENT

 

This
Securities Purchase Agreement, dated as of the date below (this “Agreement”), is entered into by and among
Trxade Group, Inc. (the “Company”), a corporation incorporated in the state of Delaware, and the persons and
entities listed on the signature page attached hereto (the “Investors”).

 

The
parties hereby agree as follows:

 

1.
The Securities.

 

(a)
Issuance of Securities. Subject to all of the terms and conditions hereof, the Company agrees to issue and sell to each
of the Investors, and each of the Investors severally agrees to purchase, shares of Common Stock (each, a “Security”
and, collectively, the “Securities”) for the investment amount set forth opposite the respective Investor’s
name on signature page hereto (the “Investment Amount”). The obligations of the Investors to purchase
Notes are several and not joint. The aggregate Investment Amounts for the purchase of Securities hereunder are indeterminant at
this time shall be determined by the Company’s Board of Directors. The amount may exceed $5,000,000.

 

(b)
Delivery; Use of Proceeds. The sale and purchase of the Securities shall take place at a closing (the “Closing")
to be held at such place and time as the Company and the Investors may determine (the “Closing Date"). At the
Closing, the Company will deliver to each of the Investors the Securities to be purchased by such Investor, against receipt by
the Company of such Investor’s Investment Amount. The Company may conduct one or more additional closings within two years
of the Closing (each, an “Additional Closing”) to be held at such place and time as the Company and the Investors
participating in such Additional Closing may determine (each, an “Additional Closing Date”). Proceeds of the
Securities shall be used for general corporate purposes, including the payment of a salary to the officers of the Company.

 

2.
Representations and Warranties of the Company. The Company represents and warrants to each Investor that:

 

(a) Due
Incorporation, Qualification. The Company (i) is a corporation duly organized, validly existing and in good
standing under the laws of its jurisdiction of organization; (ii) has the power and authority to own, lease and operate its
properties and carry on its business as now conducted; and (iii) is duly qualified, licensed to do business and in good
standing as a foreign corporation in each jurisdiction where such qualification or license is required.

 

    	 	1	 

    	 

    

 

(b)
Authority; Enforceability. The execution, delivery and performance by the Company of this Agreement and Securities issued
hereunder (and collectively with the other documents referenced herein, the “Transaction Documents”) and the
consummation of the transactions contemplated hereby and thereby (i) are within the power of the Company and (ii) have been duly
authorized by all necessary actions on the part of the Company. Each Transaction Document executed by the Company has been duly
executed and delivered by the Company and constitutes a legal, valid and binding obligation of the Company, enforceable against
the Company in accordance with its terms, except as limited by bankruptcy, insolvency or other laws of general application relating
to or affecting the enforcement of creditors’ rights generally and general principles of equity.

 

(c)
Non-Contravention. The execution and delivery by the Company of the Transaction Documents executed by the Company and the
performance and consummation of the transactions contemplated thereby do not and will not (i) violate the Company’s Certificate
of Incorporation, Bylaws or other formation or charter documents, as applicable (as amended, the “Charter Documents”),
or any material judgment, order, writ, decree, statute, rule or regulation applicable to the Company; (ii) violate any provision
of, or result in the breach or the acceleration of, or entitle any other person to accelerate (whether after the giving of notice
or lapse of time or both), any material mortgage, indenture, agreement, instrument or contract to which the Company is a party
or by which it is bound; or (iii) result in the creation or imposition of any lien or encumbrance upon any property, asset or
revenue of the Company.

 

(d)
No Violation or Default. The Company is not in violation of or in default with respect to (i) its Charter Documents or
any material judgment, order, writ, decree, statute, rule or regulation applicable to the Company; or (ii) any material mortgage,
indenture, agreement, instrument or contract to which the Company is a party or by which it is bound.

 

(e)
Capitalization. As of the date of this Agreement, the authorized and outstanding capital stock of the Company is as set
herein and in the Public Filings (whichever is later) and also sets forth all outstanding options, warrants and convertible securities
of the Company outstanding as of the date hereof, including any shares reserved for issuance under any equity incentive or similar
plan of the Company. All outstanding shares of the Company have been duly authorized and validly issued in compliance with applicable
laws, and are fully paid and nonassessable.

 

3.
Representations and Warranties of Investors. Each Investor, for that Investor alone, represents and warrants to
the Company upon the acquisition of a Security as follows:

 

(a)
Binding Obligation. Such Investor has full legal capacity, power and authority to execute and deliver this Agreement and
to perform its obligations hereunder. This Agreement and the Transaction Documents constitute valid and binding obligations of
such Investor, enforceable in accordance with their terms, except as limited by bankruptcy, insolvency or other laws of general
application relating to or affecting the enforcement of creditors’ rights generally and general principles of equity.

 

    	 	2	 

    	 

    

 

(b)
Securities Law Compliance. Such Investor has been advised that the Securities and the underlying securities have not been
registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws
and, therefore, cannot be resold unless they are registered under the Securities Act and applicable state securities laws or unless
an exemption from such registration requirements is available. Such Investor has not been formed solely for the purpose of making
this investment and is purchasing the Securities to be acquired by such Investor hereunder for its own account for investment,
not as a nominee or agent, and not with a view to, or for resale in connection with, the distribution thereof, and Investor has
no present intention of selling, granting any participation in, or otherwise distributing the same. Such Investor has such knowledge
and experience in financial and business matters that such Investor is capable of evaluating the merits and risks of such investment,
is able to incur a complete loss of such investment without impairing such Investor’s financial condition and is able to
bear the economic risk of such investment for an indefinite period of time.

 

(c)
Access to Information. Such Investor has received, read carefully and understands this Agreement and the Securities and
all exhibits hereto and thereto and has consulted its own attorney, accountant and/or investment advisor with respect to the transactions
contemplated hereby and thereby and its suitability for such Investor. The Company has made available to such Investor, prior
to the purchase of the Securities, all Public Filings filed under the SEC, and Investor has had the opportunity to ask questions
of and receive answers from management of the Company concerning the terms and conditions of this Agreement and the Securities
and to obtain any additional information necessary to verify information contained in the Agreement, the Securities or otherwise
related to the financial data and business of the Company, to the extent that such parties possess such information or can acquire
it without unreasonable effort or expense, and all such questions, if asked, have been answered satisfactorily and all such documents,
if requested, have been found to be satisfactory. The foregoing shall not limit the Company’s representations and warranties
or such Investor’s right to rely thereon.

 

(d)
Acknowledgement of Risks. Such Investor is aware and acknowledges that (a) the Company has no operating history, and
there is a high degree of risk that the Company will be unable to execute its business strategy successfully; (b) the Securities
involve a substantial degree of risk of loss of its entire investment; (c) such Investor, in purchasing the Securities, is relying
solely upon the advice of such Investor’s tax advisor with respect to the tax aspects of purchasing the Securities; and
(d) because there are substantial restrictions on the transferability of the Securities it may not be possible for such Investor
to liquidate its investment readily. Investor has reviewed the Risk Factors and other information referenced in the 10-K,
the 10-Q and the Public Filings.

 

(e)
Accredited Investor. Such Investor (a) is an “accredited investor” within the meaning of Rule 501(a) of Regulation
D promulgated under the Securities Act, and (b) maintains its domicile, and is not merely a transient or temporary resident, at
the address shown on the signature page hereof.

 

(f)
No Public Advertising. Investor acknowledges that Investor has not seen, received, been presented with, or been solicited
by any leaflet, public promotional meeting, newspaper or magazine article or advertisement, radio or television advertisement,
or any other form of advertising or general solicitation with respect to the Securities.

 

    	 	3	 

    	 

    

 

(g)
Transfer Restrictions. Further, Investor is aware that the Company was previously a shell company, and therefore the exemption
offered pursuant to Rule 144 is not currently available. Notwithstanding the foregoing, however, Investor is aware that because
the Company has filed current “Form 10 information” with the Securities and Exchange Commission reflecting its status
as an entity that is no longer a shell company, if (i) the Company remains subject to the reporting requirements of section 13
or 15(d) of the Exchange Act; and (ii) if the Company has filed all reports and other materials required to be filed by section
13 or 15(d) of the Exchange Act, as applicable, during the preceding 12 months; then the Shares issued in connection with this
Offering may be sold subject to Rule 144 (and applicable holding periods) and other applicable securities laws after one year
has elapsed from the date that the Company file D “Form 10 information” with the Securities and Exchange Commission.

 

(h)
Indemnification. Investor hereby agrees to indemnify and hold harmless the Company, its principals, the Company’s
officers, directors attorneys, and agents, from any and all damages, costs and expenses (including actual attorneys’ fees)
which they may incur: (i) by reason of P Investor’s failure to fulfill any of the terms and conditions of this Subscription;
(ii) by reason of Investor’s breach of any of representations, warranties or agreements contained herein (including the
Purchaser Questionnaire and Suitability Statement); or (iii) with respect to any and all claims made by or involving any person,
other than Investor personally, claiming any interest, right, title, power, or authority in respect to the Securities. Investor
further agrees and acknowledges that these indemnifications shall survive any sale or transfer, or attempted sale or transfer,
of any portion of the Securities.

 

4.
Conditions to Closing of the Investors. Each Investor’s obligations at the Closing and each Additional Closing
are subject to the fulfillment, on or prior to the Closing Date or applicable Additional Closing Date, of all of the following
conditions:

 

(a)
Representations and Warranties. The representations and warranties made by the Company in Section 2 hereof shall
have been true and correct when made, and shall be true and correct on the Closing Date or applicable Additional Closing Date.

 

(b)
Governmental Approvals and Filings. Except for any notices required or permitted to be filed after the Closing Date or
applicable Additional Closing Date with certain federal and state securities commissions, the Company shall have obtained all
governmental approvals required in connection with the lawful sale and issuance of the Securities.

 

(c)
Transaction Documents. The Company shall have duly executed and delivered to the Investors the following documents: (i)
this Agreement and (ii) Securities issued hereunder.

 

    	 	4	 

    	 

    

 

5.
Conditions to Obligations of the Company. The Company’s obligation to issue and sell the Securities at the
Closing and at each Additional Closing is subject to the fulfillment, on or prior to the Closing Date or the applicable Additional
Closing Date, of the following conditions:

 

(a)
Representations and Warranties. The representations and warranties made by the applicable Investors in Section 3 hereof
shall be true and correct when made, and shall be true and correct on the Closing Date and the applicable Additional Closing Date.

 

(b)
Legal Requirements. At the Closing and at each Additional Closing, the sale and issuance by the Company, and the purchase
by the applicable Investors, of the Securities shall be legally permitted by all laws and regulations to which such Investors
or the Company are subject.

 

6.
Miscellaneous.

 

(a)
Waivers; Amendments. Any provision of this Agreement and the Securities may be amended, waived or modified only upon the
written consent of the Company and Investor.

 

(b)
Nature of Investment. For the avoidance of doubt, the parties hereto acknowledge and agree that the payment of the Investment
Amount to the Company by an Investor will be deemed to be an equity investment in the Company and will not be a loan to or indebtedness
of the Company.

 

(c)
Governing Law; Arbitration, Consent to Jurisdiction, Waiver of Jury Trial. Any action to enforce or interpret this Offering,
or to resolve disputes over this Agreement between the Company and the Investor, will be settled by arbitration in accordance
with the rules of the American Arbitration Association. Arbitration will be the exclusive dispute resolution process, and
arbitration will be a held in Tampa, Florida. Any Party may commence arbitration by sending a written demand for arbitration
to the other Parties. The demand will set forth the nature of the matter to be resolved by arbitration. The Company will select
the place of arbitration. The substantive law of the state of Florida will be applied by the arbitrator to the resolution of the
dispute. The Parties will share equally all initial costs of arbitration. The prevailing Party will be entitled to reimbursement
of attorney fees, costs, and expenses incurred in connection with the arbitration. All decisions of the arbitrator will be final,
binding, and conclusive on all Parties. Judgment may be entered on any such decision in accordance with applicable law in any
court having jurisdiction of it. The arbitrator (if permitted under applicable law) or the court may issue a writ of execution
to enforce the arbitrator’s decision. TO THE EXTENT EACH MAY LEGALLY DO SO, EACH PARTY HERETO HEREBY EXPRESSLY WAIVES ANY
RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION, CAUSE OF ACTION, OR PROCEEDING ARISING UNDER OR WITH RESPECT TO THIS SUBSCRIPTION,
OR IN ANY WAY CONNECTED WITH, OR RELATED TO, OR INCIDENTAL TO, THE DEALING OF THE PARTIES HERETO WITH RESPECT TO THIS AGREEMENT,
OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND IRRESPECTIVE OF WHETHER SOUNDING
IN CONTRACT, TORT, OR OTHERWISE. TO THE EXTENT EACH MAY LEGALLY DO SO, EACH PARTY HERETO HEREBY AGREES THAT ANY SUCH CLAIM, DEMAND,
ACTION, OR PROCEEDING SHALL BE DECIDED BY A COURT TRIAL WITHOUT A JURY AND THAT EITHER PARTY HERETO MAY FILE AN ORIGINAL COUNTERPART
OR A COPY OF THIS AGREEMENT WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF ANY OTHER PARTY HERETO TO THE WAIVER OF ITS RIGHT
TO TRIAL BY JURY.

 

    	 	5	 

    	 

    

 

(d)
Survival. The representations, warranties, covenants and agreements made herein shall survive the execution and delivery
of this Agreement.

 

(e)
Transferability. The Securities shall not be transferred directly or indirectly, by any Investor to any person (other than
to persons who are and remain affiliates of such Investor) without compliance with all applicable securities laws.

 

(f)
Successors and Assigns. Subject to the restrictions on transfer described herein, the rights and obligations of the Company
and the Investors shall be binding upon and benefit the successors, assigns, heirs, administrators and transferees of the parties.

 

(g)
Transaction Expenses. Each party agrees to pay its own costs and expenses (including attorneys’ fees) in connection
with the preparation and closing of the transactions contemplated by this Agreement and the Securities

 

(h)
Entire Agreement. This Agreement together with the other Exhibits referenced heretin constitute and contain the entire
agreement among the Company and Investors and supersede any and all prior agreements, negotiations, correspondence, understandings
and communications among the parties, whether written or oral, respecting the subject matter hereof.

 

(i)
Notices. All notices, demands, consents, or other communications hereunder shall in writing and faxed, mailed, emailed
or delivered to each party as follows: (i) if to a Investor, at such Investor’s address, email address, or facsimile number
set forth in the signature page attached hereto, or at such other address as such Investor shall have furnished the Company in
writing, or (ii) if to the Company, at such address, or fax number set forth on the signature pages hereto, or at such other address,
or facsimile number as the Company shall have furnished to the Investors in writing. All such communications will be deemed effectively
given the earlier of (i) when received, (ii) when delivered personally, (iii) one business day after being delivered by facsimile
(with receipt of appropriate confirmation), (iv) one business day after being deposited with an overnight courier service of recognized
standing or (v) four days after being deposited in the U.S. mail, first class with postage prepaid.

 

(j)
Severability. If any provision of this Agreement shall be judicially determined to be invalid, illegal or unenforceable,
the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

 

    	 	6	 

    	 

    

 

(k)
Counterparts. This Agreement may be executed in one or more counterparts, each of which will be deemed an original, but
all of which together will constitute one and the same agreement. Facsimile copies of signed signature pages will be deemed binding
originals.

 

(l)
Confidentiality and No-Trading. Except
as required by law, the Investor agrees that it shall keep confidential and shall not disclose or divulge any confidential, proprietary
or secret non-public information that such Investor may obtain from the Company pursuant to financial statements, reports and
other materials submitted by the Company to such Investor pursuant to this Agreement or otherwise, or pursuant to visitation or
inspection rights granted under this Agreement, unless such information is known, or until such information becomes known, to
the public; provided, that such Investor may disclose such information (a) to its attorneys, accountants, consultants and other
professionals to the extent necessary to obtain their services in connection with its investment in the Company; (b) to any prospective
transferee of any Securities from such Investor as long as such prospective transferee agrees in writing to be bound by the provisions
of this section; or (c) to any affiliate of such Investor or to a partner, stockholder or stockholder of such Investor. Investor
understands that To the extent disclosed, the Company’s confidential information as well as the existence of the discussions
concerning the Offering and the terms of the Offering being contemplated by the parties may be deemed material non-public information
and Investor shall not trade in the stock of the Company while Investor is in possession of any material non-public information
conveyed hereunder.

 

[SIGNATURE
PAGE FOLLOWS]

 

    	 	 	 

    	 

    

 

You
hereby certify that (a) all the information contained in this Agreement is complete and accurate and contains no material omissions
and may be relied upon by the Company, and (b) you will notify the Company in writing immediately of any change in any of such
information.

 

Amount
of Security

for
Which the undersigned Investor Subscribes: $ ________________

(You
May Subscribe for Not Less than $100,000 unless approved by the Company)

 

IN
WITNESS WHEREOF, the undersigned has caused this Agreement to be duly signed as of the date first above written.

 

	 	INVESTOR (if
    individual):	 	INVESTOR
    (if entity):
	 	 	 	 	 	 
	 	_________________________________	 	_________________________________	 	 
	 	Signature	 	Name of Entity	 	 
	 	 	 	 	 	 
	 	_________________________________	 	By:_________________________________	 	 
	 	Name (type of print)	 	Name:___________________________	Its:	__________

 

	 	Address:	 	 	 	 
	 	________________________________	 	 	 	 
	 	Street	 	 	 	 

 

	 	________________________________	 
	 	City	 	State	Zip	 
	 	 	 	 	 	 
	 	Email:__________________________	 

 

NOTE:
If the Securities are to be jointly owned, please check the applicable box below. The co-owner must complete and sign the Co-Owner
Signature Page and the Co-Owner Suitability Statements on the next page.

 

	 	[  ]	Joint
    Tenants with Right of 
	 	 	 
	 	[  ]	Survivorship Tenants-in-Common
	 	 	 
	 	[  ]	Other: _________________________________
	 	 	 
	 	 	[Signature page
    for Securities Purchase Agreement]

 

    	 	 	 

    	 

    

 

CO-OWNER
SIGNATURE PAGE

 

You
hereby certify that (a) all the information contained in this Agreement is complete and accurate and contains no material omissions
and may be relied upon by the Company, and (b) you will notify the Company in writing immediately of any change in any of such
information.

 

IN
WITNESS WHEREOF, the undersigned has executed this Agreement on the date set forth below.

 

CO-OWNER:

 

________________________________

(Signature)

 

________________________________

(Print
Name)

 

________________________________

(Date)

 

Address:

 

________________________________

Street

 

________________________________

	 	City	State	Zip 	 

 

Email:
________________________________

 

    	 	-2-	 

    	 

    

 

IN
WITNESS WHEREOF, the undersigned has caused this Securities Purchase Agreement to be duly signed as of the date first above
written.

 

	 	COMPANY:
	 	 
	 	TRXADE
    GROUP, INC.
	 	a Delaware
    corporation
	 	 	 
	 	By:	 
	 	Name:	Suren
    Ajjarapu, CEO
	 	 	 
	 	Trxade
    Group, Inc.
	 	3480
    Land O Lakes Blvd
	 	Land
    O Lakes, FL 34639
	 	 	 
	 	DATE:	 	 

 

    	 	-3-	 

    	 

    

 

Exhibit
B

 

Purchaser
Questionnaire and Suitability Statements

 

See
attached.

 

Trxade
Group, Inc.

Offering
Memorandum and Subscription Booklet

Purchaser
Questionnaire and Suitability Statement

 

    	 	 	 

    	 

    

 

CONFIDENTIAL
PURCHASER QUESTIONNAIRE AND SUITABILTY STATEMENT

 

TRXADE
GROUP, INC.,

a
Delaware corporation

 

Private
Placement of Securities

 

Ladies
and Gentlemen:

 

The
information contained herein is furnished to you in order that you may determine whether the undersigned’s agreement to purchase
Securities (the “Securities”) issued by Trxade Group, Inc., a Delaware corporation (the “Company”),
may be accepted by you in light of the requirements of Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities
Act”), and Rule 506 of Regulation D under the Act, and an exemption contained in the securities laws of certain states.
The undersigned prospective investor (the “Investor”) understands that the information is needed in order to
satisfy various suitability requirements, including the requirement that you must have reasonable grounds to believe that the
Investor is an “Accredited Investor”, as defined in Rule 501 of Regulation D (which in the case of a partnership investor
formed for the purpose of investing in the Securities requires each partner to be an Accredited Investor), and that the Investor
has knowledge and experience in financial and business affairs such that the Investor is capable of evaluating the merits and
risks of the proposed investment. The Investor understands that (a) you will rely on the information contained herein for purposes
of such determination, (b) the Securities distributed in connection therewith will not be registered under the Securities Act
in reliance upon the exemption from registration afforded by Section 4(a)(2) of the Securities Act and Rule 506 of Regulation
D promulgated thereunder, (c) the Securities will not be registered under the securities laws of any state in reliance upon a
similar exemption, and (d) this Questionnaire is not an offer of the Securities or any other securities.

 

The
Investor understands that, although this Questionnaire and the responses provided herein will be kept confidential, you may need
to present it to such parties as you deem advisable in order to establish the applicability under any federal or state securities
laws of an exemption from registration.

 

In
accordance with the foregoing, the following representations and information are hereby made and furnished:

 

(Please
answer all questions. If the answer to any question is “None” or “Not Applicable”, please so state. Each
partner of an investing partnership formed for the purpose of investing in the Securities must submit a completed Questionnaire.)

 

B - 1

 

Trxade
Group, Inc.

Offering
Memorandum and Subscription Booklet

Purchaser
Questionnaire and Suitability Statement

 

    	 

    	 

    

 

	1.	General
    Information.

 

Name
of Prospective Investor: _____________________________

 

State
of Domicile:  _____________________________

 

Type
of Prospective Investor. The undersigned is:

 

	 	[  ]	An
    individual
	 	 	 
	 	[  ]	A
    corporation
	 	 	 
	 	[  ]	A
    partnership or limited liability company
	 	 	 
	 	[  ]	A
    trust
	 	 	 
	 	[  ]	Other

 

Address.
The address of the undersigned is:  _____________________________

 

 ________________________________________________________________

 

 

Contact
Information. The contact information of the undersigned is:

 

Address:  __________________________________

 

__________________________________________ 

 

Telephone:   __________________________________

  

Email:   __________________________________

 

Facsimile:   __________________________________

 

Contact
Person (if the undersigned is an entity):   _______________

 

Tax
I.D. Number. If an entity, the federal tax identification number

(Employer
Identification Number) of the undersigned is:  __________________

 

B - 2

 

Trxade
Group, Inc.

Offering
Memorandum and Subscription Booklet

Purchaser
Questionnaire and Suitability Statement

 

    	 

    	 

    

 

Entities.
If the undersigned is an entity: 

 

Nature
of business:    ____________________________

 

Date
of inception of business:     ____________________

 

Was
the undersigned formed for the specific purpose of acquiring the Securities?

 

	 	[  ]	Yes	[  ]	No	 

 

2.      Representations
as to Accredited Investor Status. The undersigned has read the definition of “Accredited Investor” from Rule 501
of Regulation D as set forth in Exhibit A, and certifies that either (check one):

 

A.      [  ]      The
undersigned is an “Accredited Investor” for one or more of the following

reasons:

 

[  ]      (a)
The undersigned is an individual (not a partnership, corporation, etc.) whose individual net worth (excess of total assets at
fair market value, including homes (but excluding the value of the primary residence of such individual), automobiles and personal
property, over total liabilities (but excluding the amount of indebtedness secured by the individual’s primary residence up to
its fair market value, and including the amount of any such indebtedness in excess of such fair market value)), or joint net worth
with his or her spouse, presently exceeds $1,000,000;

 

[  ]      (b)
The undersigned is an individual (not a partnership, corporation, etc.) who had an income in excess of $200,000 in each of the
two most recent years, or joint income with his or her spouse in excess of $300,000 in each of those years (in each case including
foreign income, tax exempt income and full amount of capital gains and losses but excluding any income of other family members
and any unrealized capital appreciation) and has a reasonable expectation of reaching the same income level in the current year;

 

[  ]      (c)
The undersigned is a manager, director or executive officer (e.g., President or any vice president in charge of a principal business
unit, division or function such as sales, administration or finance) of the Company;

 

[  ]      (d)
The undersigned is a corporation, partnership, Massachusetts business trust, or non-profit organization within the meaning of
Section 501(c)(3) of the Internal Revenue Code, in each case not formed for the specific purpose of acquiring the Securities and
with total assets in excess of $5,000,000;

 

_________________________________

_________________________________

(describe
entity)

 

B - 3

 

Trxade
Group, Inc.

Offering
Memorandum and Subscription Booklet

Purchaser
Questionnaire and Suitability Statement

 

    	 

    	 

    

 

[  ]      (e)
The undersigned is a trust with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the Securities,
whose purchase would be directed by a “sophisticated person” as described in Rule 506(b)(2)(ii);

 

[  ]      (f)
The undersigned is a revocable trust which may be amended or revoked by the grantors, and all of the grantors satisfy the conditions
of clauses (a), (b) or (c) above and have completed copies of this Questionnaire, which copies are delivered to the Company herewith;

 

[  ]      (g)
The undersigned is an entity all the equity owners of which are “accredited investors” within one or more of the above
categories. If relying upon this category alone, each equity owner must complete a separate copy of this Questionnaire;
All equity owners are listed below:

 

_________________________________ 

 

_________________________________ 

 

_________________________________

 

_________________________________

(list
all equity owners)

 

B.      [  ]      The
undersigned is not an “Accredited Investor”.

 

3.      Representations
as to Sophistication. The information requested in this Section 3 must be provided by each prospective investor that is an
individual, each individual shareholder of a prospective investor that is a corporation, each individual partner or member of
a prospective investor that is a partnership or limited liability company, each individual grantor of a prospective investor that
is a revocable trust and each sophisticated person as described in Rule 506(b)(2)(ii) under the Securities Act that will direct
the investment by a prospective investor that is an irrevocable trust:

 

A.      General

 

Do
you have such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of
an investment in the Securities?

 

	 	[  ]	Yes	[  ]	No	 

 

B - 4

 

Trxade
Group, Inc.

Offering
Memorandum and Subscription Booklet

Purchaser
Questionnaire and Suitability Statement

 

    	 

    	 

    

 

Do
you, either alone by reason of your business or financial experience or together with your professional advisor(s), have the capacity
to protect your own interests in connection with a purchase of the Securities?

 

	 	[  ]	Yes	[  ]	No	 

 

Are
you (or the beneficiary of the trust for which you are the fiduciary) able to bear the economic risk of the investment, including
a complete loss of the investment?

 

	 	[  ]	Yes	[  ]	No	 

 

Would
your purchase of the Securities be for investment?

 

	 	[  ]	Yes	[  ]	No	 

 

If
not, please state the reason for which you would purchase the Securities:

 

_______________________________________________________

 

By
signing below, the undersigned hereby acknowledges that the representations set forth in this Questionnaire are accurate and complete
in all respects, and undertakes to immediately notify the Company in writing regarding any material change in the information
set forth herein prior to the date and time that the undersigned purchases any Securities. The undersigned understands that the
Company and its legal counsel will rely on the accuracy and completeness of these representations for the purpose of determining
my suitability as a prospective investor under applicable securities laws, and that a false representation may constitute a violation
of law and that any person who suffers damage as a result of a false representation may have a claim against me for damages.

 

Dated: _____________________

	 	 

        ________________________

         

        Authorized
        Signature

	 	

         

        ________________________

         

        Print
        Name

	 	 

        ________________________

         

        Print
        Title (if applicable)

         

 

B - 5

 

Trxade
Group, Inc.

Offering
Memorandum and Subscription Booklet

Purchaser
Questionnaire and Suitability StatementExhibit

Execution Version

===================================================================
SECOND AMENDMENT
TO
AMENDED AND RESTATED SYNDICATED FACILITY AGREEMENT
dated as of
September 30, 2019
among
CIVEO CORPORATION, 
 
CIVEO CANADA LIMITED PARTNERSHIP,
CIVEO PTY LIMITED
and
CIVEO MANAGEMENT LLC, 
 
as Borrowers
THE LENDERS NAMED HEREIN,
ROYAL BANK OF CANADA, 
as Administrative Agent, U.S. Collateral Agent, 
Canadian Administrative Agent, Canadian Collateral Agent 
and an Issuing Bank,
and
RBC EUROPE LIMITED, 
as Australian Administrative Agent, Australian Collateral Agent 
and an Issuing Bank	
					
	 
	 
	 
	 
	 

RBC CAPITAL MARKETS, 1
as Lead Arranger and Sole Bookrunner

__________________  
1  RBC Capital Markets is the global brand name of the corporate and investment banking business of Royal Bank of Canada and its affiliates.

US-DOCS\110695394.8

SECOND AMENDMENT TO  
AMENDED AND RESTATED SYNDICATED FACILITY AGREEMENT
THIS SECOND AMENDMENT TO AMENDED AND RESTATED SYNDICATED FACILITY AGREEMENT (this “Second Amendment”), dated as of September 30, 2019, is among CIVEO CORPORATION, a corporation incorporated under the laws of the Province of British Columbia (the “Parent Borrower”), CIVEO MANAGEMENT LLC, a Delaware limited liability company (the “U.S. Borrower”), CIVEO CANADA LIMITED PARTNERSHIP, a limited partnership organized under the laws of the Province of Alberta (the “New Canadian Borrower”), CIVEO PTY LIMITED ACN 003 657 510, an Australian proprietary limited company (the “Australian Borrower” and, together with the Parent Borrower, U.S. Borrower and the New Canadian Borrower, the “Borrowers”), certain subsidiary guarantors of the Borrowers party hereto, the Lenders party hereto (the “Lenders”), the Issuing Banks, the Swing Line Lenders, ROYAL BANK OF CANADA, as administrative agent for the U.S. Lenders, as U.S. collateral agent for the Lenders, as administrative agent for the Canadian Lenders and as Canadian collateral agent for the Lenders, and RBC EUROPE LIMITED, as administrative agent for the Australian Lenders and as Australian collateral agent for the Lenders.

R E C I T A L S
A.    The Borrowers, the Agents and the Lenders are parties to that certain Amended and Restated Syndicated Facility Agreement, dated as of April 2, 2018, as amended by the First Amendment to Amended and Restated Syndicated Facility Agreement dated as of October 26, 2018 (the “Credit Agreement” and, as amended by this Second Amendment, the “Amended Credit Agreement”), pursuant to which the Lenders have made certain loans to and other extensions of credit on behalf of the Borrowers.
B.    The Borrowers, the Agents, the Issuing Banks, the Swing Line Lenders and certain of the Lenders party hereto have agreed to (a) amend certain provisions of the Credit Agreement, (b) increase the aggregate Canadian Revolving Commitments to $183,500,000 and (c) extend the Maturity Date of their respective Commitments, in each case, as more particularly set forth herein.
NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
Section 1.Defined Terms.  Each capitalized term used herein but not otherwise defined herein has the meaning given such term in the Amended Credit Agreement.  Unless otherwise indicated, all article and section references in this Second Amendment refer to articles and sections of the Amended Credit Agreement.
Section 2.Amendments to Credit Agreement.  Effective as of the Second Amendment Effective Date, the Credit Agreement is hereby amended as follows: 
(a)    Section 1.01 of the Credit Agreement is amended by adding the following definitions where alphabetically appropriate: 

“Benefit Plan” means any of (a) an “employee benefit plan” (as defined in Section 3(3) of ERISA) that is subject to Title I of ERISA, (b) a “plan” as defined in Section 4975 of the Code to which Section 4975 of the Code applies, and (c) any Person whose assets include (for purposes of the Plan Asset 

US-DOCS\110695394.8

Regulations or otherwise for purposes of Title I of ERISA or Section 4975 of the Code) the assets of any such “employee benefit plan” or “plan”.
“BHC Act Affiliate” of a party shall mean an “affiliate’ (as such term is defined under, and interpreted in accordance with, 12 U.S.C. 1841(k)) of such party.
“CDOR Scheduled Successor Rate” shall have the meaning provided in Section 2.08(c).
“CDOR Scheduled Unavailability Date” shall have the meaning provided in Section 2.08(c).
“Covered Entity” shall mean any of the following:
		
	(a)
	a “covered entity” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 252.82(b);

		
	(b)
	a “covered bank” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 47.3(b); or

		
	(c)
	a “covered FSI” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 382.2(b).

“Covered Party” shall have the meaning provided in Section 9.26.

“Default Right” shall have the meeting provided in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.

“Extending Lenders” has the meaning set forth in Section 3 of the Second Amendment. 

“Non-Extending Lenders” has the meaning set forth in Section 3 of the Second Amendment.  

“Plan Asset Regulations” shall mean 29 CFR § 2510.3-101 et seq., as modified by Section 3(42) of ERISA, as amended from time to time.

“PTE” means a prohibited transaction class exemption issued by the U.S. Department of Labor, as any such exemption may be amended from time to time.

“QFC” shall have the meaning assigned to the term “qualified financial contract” in, and shall be interpreted in accordance with, 12 U.S.C. 5390(c)(8)(D).
    
“QFC Credit Support” shall have the meaning provided in Section 9.26.

“Second Amendment” shall mean that certain Second Amendment to Amended and Restated Syndicated Facility Agreement, dated as of September 30, 2019, among the Borrowers, the Administrative Agents and the Lenders party thereto.

“Supported QFC” shall have the meaning provided in Section 9.26.

“U.S. Special Resolution Regime” shall have the meaning provided in Section 9.26.

2

US-DOCS\110695394.8

(b)    Section 1.01 of the Credit Agreement is amended by amending the following definitions in their entirety: 

“CDOR Rate” shall mean, for each day in any period, the annual rate of interest that is the rate based on an average rate applicable to Canadian dollar bankers’ acceptances for a term equal to the term of the relevant Contract Period (or for a term of one month for purposes of determining the Canadian Prime Rate) appearing on the Reuters Screen CDOR Page at approximately 10:00 a.m. (Standard Time), on such date, or if such date is not a Business Day, on the immediately preceding Business Day.

“Contract Period” shall mean the term of a B/A Loan selected by the Parent Borrower in accordance with Section 2.22, commencing on the date of such B/A Loan and expiring on a Business Day which shall be either 1, 2, 3 or 6 months thereafter, subject to market availability, provided that (a) subject to clause (b) below, each such period shall be subject to such extensions or reductions as may be agreed by the Lenders to ensure that each Contract Period shall expire on a Business Day, and (b) no Contract Period shall extend beyond the Maturity Date.
    
“Maturity Date” shall mean (a) with respect to the Non-Extending Lenders, November 30, 2020 and (b) with respect to the Extending Lenders, November 30, 2021.  

“Swing Line Payment Date” shall mean (a) if an AutoBorrow Agreement is in effect, the earliest to occur of (i) the date required by such AutoBorrow Agreement, (ii) demand is made by the Applicable Swing Line Lender and (iii) the Maturity Date, or (b) if an AutoBorrow Agreement is not in effect, the earlier to occur of (i) five (5) Business Days after the date of the applicable Swing Line Borrowing if no Default or Event of Default exists, and otherwise upon demand by the Applicable Swing Line Lender and (ii) the Maturity Date.

(c)    Section 1.02 of the Credit Agreement is amended to add the below language:
For all purposes under the Loan Documents, in connection with any division or plan of division under Delaware law (or any comparable event under a different jurisdiction’s laws): (a) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized and acquired on the first date of its existence by the holders of its Equity Interests at such time.
(d)    Section 2.08(b) of the Credit Agreement is amended in its entirety as follows:
Notwithstanding the foregoing, if the Applicable Administrative Agent (i) determines that the circumstances described in clause (a)(i) of this Section 2.08 have arisen and such circumstances are unlikely to be temporary, (ii) determines that the circumstances described in clause (a)(i) of this Section 2.08 have not arisen but the supervisor for the administrator of the LIBO Rate or a Governmental Authority having jurisdiction over the Applicable Administrative Agent has made a public statement identifying a specific date after which the LIBO Rate shall no longer be used for determining interest rates for loans, (iii) is advised by the Applicable Required Lenders of their determination in accordance with clause (a)(ii) of this Section 2.08, or (iv) new syndicated loans have started to adopt a new benchmark interest rate, then the Applicable Administrative Agent and the Applicable Borrower shall endeavor to establish an alternate rate of interest to the LIBO Rate that gives due consideration to the then prevailing market convention for determining a rate of interest for syndicated loans in the United States at such time, and shall enter into an amendment to 

3

US-DOCS\110695394.8

this Agreement to reflect such alternate rate of interest and such other related changes to this Agreement as may be applicable, provided that to the extent that the Applicable Administrative Agent determines that adoption of any portion of such market convention is not administratively feasible or that no market convention for the administration of such alternate rate of interest exists, the Applicable Administrative Agent shall administer such alternate rate of interest in a manner acceptable by the Applicable Administrative Agent and the Borrower.  Notwithstanding anything to the contrary in Section 9.08, such amendment shall become effective without any further action or consent of any other party to this Agreement so long as the Applicable Administrative Agent shall not have received, within five (5) Business Days of the date notice of such alternate rate of interest is provided to the Applicable Lenders, a written notice from the Applicable Required Lenders stating that such Applicable Required Lenders object to such amendment.  If a notice of an alternate rate of interest has been given and no such alternate rate of interest has been determined, and (x) the circumstances under clause (i) or (iii) above exist or (y) the specific date referred to in clause (ii) has occurred (as applicable), Alternate Base Rate shall apply without regard to clause (c) of the definition thereof.  Provided that, if such alternate rate of interest shall be less than zero, such rate shall be deemed to be zero for the purposes of this Agreement
(e)    A new Section 2.08(c) is hereby added to read in its entirety as follows:
(c) CDOR Discontinuation.
(i) If the Applicable Administrative Agent determines (which determination shall be conclusive absent manifest error), or the Applicable Borrower or the Required Lenders notify the Applicable Administrative Agent that the Applicable Borrower or Required Lenders (as applicable) have determined that:

(A) adequate and reasonable means do not exist for ascertaining CDOR, including because the Reuters Screen CDOR page is not available or published on a current basis for the applicable period and such circumstances are unlikely to be temporary, (2) there no longer exists an active market for Bankers’ Acceptances or (3) the B/A Discount Rate will not or does not accurately reflect the costs of funds of the Required Lenders;

(B) the administrator of the CDOR or a Governmental Authority having jurisdiction has made a public statement identifying a specific date after which CDOR will permanently or indefinitely cease to be made available or permitted to be used for determining the interest rate of loans;
 
(C) a Governmental Authority having jurisdiction over the Applicable Administrative Agent has made a public statement identifying a specific date after which CDOR shall no longer be permitted to be used for determining the interest rate of loans (each such specific date in clause (B) above and in this clause (C) a “CDOR Scheduled Unavailability Date”); or

(D) syndicated loans currently being executed, or that include language similar to that contained in this Section 2.08(c), are being executed or amended (as applicable) to incorporate or adopt a new benchmark interest rate to replace CDOR,

then reasonably promptly after such determination by the Applicable Administrative Agent or receipt by the Applicable Administrative Agent of such notice, as applicable, the Applicable Administrative Agent and the Applicable Borrower may mutually agree upon a successor rate to CDOR, and the Applicable Administrative Agent and the Applicable Borrower may amend this Agreement to replace CDOR with an alternate benchmark rate (including any mathematical or other adjustments to the benchmark (if any) incorporated therein), giving 

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due consideration to any evolving or then existing convention for similar Canadian Dollars denominated syndicated credit facilities for such alternative benchmarks (any such proposed rate, a “CDOR Successor Rate”), together with any proposed CDOR Successor Rate conforming changes and any such amendment shall become effective at 5:00 p.m. (Toronto time) on the fifth Business Day after the Applicable Administrative Agent shall have posted such proposed amendment to all Lenders and the Applicable Borrower unless, prior to such time, Lenders comprising the Required Lenders have delivered to the Applicable Administrative Agent written notice that such Required Lenders do not accept such amendment.

(ii) If no CDOR Successor Rate has been determined and the circumstances under clause 2.08(c)(i)(A) above exist or a CDOR Scheduled Unavailability Date has occurred (as applicable), the Applicable Administrative Agent will promptly so notify the Applicable Borrower and each Lender. Thereafter, the obligation of the Lenders to make or maintain Bankers’ Acceptances and B/A Equivalent Loans, shall be suspended (to the extent of the affected Bankers’ Acceptances, B/A Equivalent Loans, or applicable periods). Upon receipt of such notice, the Applicable Borrower may revoke any pending request for an advance of, conversion to or rollover of Bankers’ Acceptances or B/A Equivalent Loans, (to the extent of the affected Bankers’ Acceptances, B/A Equivalent Loans, or applicable periods) or, failing that, will be deemed to have converted such request into a request for an advance of Prime Rate advances (subject to the foregoing clause (ii)) in the amount specified therein.

(iii) Notwithstanding anything else herein, any definition of the CDOR Successor Rate (exclusive of any margin) shall provide that in no event shall such CDOR Successor Rate be less than zero for the purposes of this Agreement. In addition, CDOR shall not be included or referenced in the definition of Prime Rate.

(f)    Section 2.09(d) of the Credit Agreement is amended to add “voluntary” before “reduction” in the first sentence of such subsection.
(g)    Section 6.11(a) of the Credit Agreement is amended in its entirety as follows: 
(a)    Maximum Total Leverage Ratio.  Commencing with the four fiscal quarter period ending March 31, 2018, permit the Total Leverage Ratio for any period of four consecutive fiscal quarters of the Parent Borrower, in each case taken as one accounting period, as of the last day of any fiscal quarter, to be greater than (A) if a Qualified Offering has not been consummated:
	
		
	Fiscal Quarter Ending
	Total Leverage Ratio

	March 31, 2018 and June 30, 2018
	4.50:1.00

	September 30, 2018
	4.25:1.00

	December 31, 2018
	4.50:1.00

	March 31, 2019
	4.75:1.00

	June 30, 2019
	4.50:1.00

	September 30, 2019
	4.25:1.00

	December 31, 2019
	4.00:1.00

	March 31, 2020, June 30, 2020 and September 30, 2020
	3.75:1.00

	December 31, 2020 and thereafter
	3.50:1.00

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    and (B) if a Qualified Offering has been consummated, 
	
		
	Fiscal Quarter Ending
	Total Leverage Ratio

	September 30, 2018
	4.25:1.00

	December 31, 2018
	4.50:1.00

	March 31, 2019
	4.75:1.00

	June 30, 2019
	4.50:1.00

	September 30, 2019 and thereafter
	4.00:1.00

(h)    A new Section 8.12 (Certain ERISA Matters) is hereby added to read in its entirety as follows:
SECTION 8.12 Certain ERISA Matters.
(a)    Each Lender (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Applicable Administrative Agent, the Lead Arranger and their respective Affiliates, and not, for the avoidance of doubt, to or for the benefit of the Applicable Borrower or any other Loan Party, that at least one of the following is and will be true:
(i)    such Lender is not using “plan assets” (within the meaning of the Plan Asset Regulations) of one or more Benefit Plans in connection with the Loans, the Letters of Credit or the Commitments,
(ii)    the transaction exemption set forth in one or more PTEs, such as PTE 84-14 (a class exemption for certain transactions determined by independent qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions involving insurance company general accounts), PTE 90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts), PTE 91-38 (a class exemption for certain transactions involving bank collective investment funds) or PTE 96-23 (a class exemption for certain transactions determined by in-house asset managers), is applicable with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement,
(iii)    (A) such Lender is an investment fund managed by a “Qualified Professional Asset Manager” (within the meaning of Part VI of PTE 84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to enter into, participate in, administer and perform the Loans, the Letters of Credit, the Commitments and this Agreement, (C) the entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement satisfies the requirements of sub-sections (b) through (g) of Part I of PTE 84-14 and (D) to the best knowledge of such Lender, the requirements of subsection (a) of Part I of PTE 84-14 are satisfied with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement, or
(iv)    such other representation, warranty and covenant as may be agreed in writing between the Applicable Administrative Agent, in its sole discretion, and such Lender.

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(b)    In addition, unless Section 8.12(a)(i) is true with respect to a Lender or such Lender has not provided another representation, warranty and covenant as provided in Section 8.12(a)(iv), such Lender further (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Applicable Administrative Agent, and each Arranger and their respective Affiliates, and not, for the avoidance of doubt, to or for the benefit of the Applicable Borrower or any other Loan Party, that:
(i)none of the Applicable Administrative Agent, or any Arranger or any of their respective Affiliates is a fiduciary with respect to the Collateral or the assets of such Lender (including in connection with the reservation or exercise of any rights by the Applicable Administrative Agent under this Agreement, any Loan Document or any documents related to hereto or thereto);
(ii)the Person making the investment decision on behalf of such Lender with respect to the entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement is independent (within the meaning of 29 CFR § 2510.3-21) and is a bank, an insurance carrier, an investment adviser, a broker-dealer or other person that holds, or has under management or control, total assets of at least $50 million, in each case as described in 29 CFR § 2510.3-21(c)(1)(i)(A)-(E);
(iii)the Person making the investment decision on behalf of such Lender with respect to the entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement is capable of evaluating investment risks independently, both in general and with regard to particular transactions and investment strategies (including in respect of the Obligations); 
(iv)the Person making the investment decision on behalf of such Lender with respect to the entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement is a fiduciary under ERISA or the Code, or both, with respect to the Loans, the Letters of Credit, the Commitments and this Agreement and is responsible for exercising independent judgment in evaluating the transactions hereunder; and 
(v)no fee or other compensation is being paid directly to the Applicable Administrative Agent or any its Affiliates for investment advice (as opposed to other services) in connection with the Loans, the Letters of Credit, the Commitments or this Agreement.
(c)     The Applicable Administrative Agent hereby informs the Lenders that each such Person is not undertaking to provide impartial investment advice, or to give advice in a fiduciary capacity, in connection with the transactions contemplated hereby, and that such Person has a financial interest in the transactions contemplated hereby in that such Person or an Affiliate thereof (i) may receive interest or other payments with respect to the Loans, the Letters of Credit, the Commitments and this Agreement, (ii) may recognize a gain if it extended the Loans, the Letters of Credit or the Commitments for an amount less than the amount being paid for an interest in the Loans, the Letters of Credit or the Commitments by such Lender or (iii) may receive fees or other payments in connection with the transactions contemplated hereby, the Loan Documents or otherwise, including structuring fees, commitment fees, arrangement fees, facility fees, upfront fees, underwriting fees, ticking fees, agency fees, administrative agent or collateral agent fees, utilization fees, minimum usage fees, letter of credit fees, fronting fees, deal-away or alternate transaction fees, amendment fees, processing fees, term out premiums, banker’s acceptance fees, breakage or other early termination fees or fees similar to the foregoing.

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(i)    A new Section 9.26 (Acknowledgment Regarding Any Supported QFCs) is hereby added to read in its entirety as follows:
SECTION 9.26 Acknowledgement Regarding Any Supported QFCs. To the extent that the Loan Documents provide support, through a guarantee or otherwise, for any agreement or instrument that is a QFC (such support “QFC Credit Support” and each such QFC a “Supported QFC”), the parties acknowledge and agree as follows with respect to the resolution power of the Federal Deposit Insurance Corporation under the Federal Deposit Insurance Act and Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act (together with the regulations promulgated thereunder, the “U.S. Special Resolution Regimes”) in respect of such Supported QFC and QFC Credit Support (with the provisions below applicable notwithstanding that the Loan Documents and any Supported QFC may in fact be stated to be governed by the laws of the State of New York and/or of the United States or any other state of the United States):
In the event a Covered Entity that is party to a Supported QFC (each, a “Covered Party”) becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer of such Supported QFC and the benefit of such QFC Credit Support (and any interest and obligation in or under such Supported QFC and such QFC Credit Support, and any rights in property securing such Supported QFC or such QFC Credit Support) from such Covered Party will be effective to the same extent as the transfer would be effective under the U.S. Special Resolution Regime if the Supported QFC and such QFC Credit Support (and any such interest, obligation and rights in property) were governed by the laws of the United States or a state of the United States. In the event a Covered Party or a BHC Act Affiliate of a Covered Party becomes subject to a proceeding under a U.S. Special Resolution Regime, default rights under the Loan Documents that might otherwise apply to such Supported QFC or any QFC Credit Support that may be exercised against such Covered Party are permitted to be exercised to no greater extent than such default rights could be exercised under the U.S. Special Resolution Regime if the Supported QFC and the Loan Documents were governed by the laws of the United States or a state of the United States. Without limitation of the foregoing, it is understood and agreed that rights and remedies of the parties with respect to a Defaulting Lender shall in no event affect the rights of any Covered Party with respect to a Supported QFC or any QFC Credit Support.
(j)    Schedule 2.01 to the Credit Agreement is amended and replaced in its entirety with Annex I attached hereto.
Section 3.Increase of Canadian Revolving Commitments; Limited Waiver of Certain Notice Requirements. Effective as of the Second Amendment Effective Date, the aggregate amount of the Canadian Revolving Commitments is hereby increased from $159,500,000 to $183,500,000 and the Canadian Revolving Commitment of each Canadian Revolving Lender after giving effect to such Incremental Revolving Credit Increase is as set forth on Annex I to this Second Amendment.  The increase of the Canadian Revolving Commitments on the Second Amendment Effective Date as set forth in this Section 3 shall be deemed to constitute an exercise of the Borrowers’ right to request an increase pursuant to Section 2.25 of the Credit Agreement and the Increase Amount Date of such Incremental Revolving Credit Increase shall be deemed to be the Second Amendment Effective Date. The requirements of Section 2.25 of the Credit Agreement with respect to notices, timing and minimum amounts are hereby waived by all parties hereto, including, for certainty, the Non-Extending Lenders, with respect to the increase described in this Section 3 and the Second Amendment constitutes a “Lender Joinder Agreement” as defined and described in the Amended Credit Agreement

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Section 4.Consent to Extension of the Maturity Date.  As of the Second Amendment Effective Date, the Maturity Date of the Commitments of the Lenders who have severally agreed to extend their respective Commitments and are identified on the signature pages hereof (each an “Extending Lender” and, collectively, the “Extending Lenders”; and any Lender other than an Extending Lender, a “Non-Extending Lender” and, collectively, the “Non-Extending Lenders”) is hereby extended to November 30, 2021. The Maturity Date with respect to the Commitments of each other Lender, if any, shall remain unchanged.
Section 5.Consent Fees. The Borrowers agree to pay to the Administrative Agent for the account of each Extending Lender that (a) notifies the Administrative Agent (or its counsel) that it has consented to this Second Amendment and (b) delivers evidence satisfactory to the Administrative Agent that it has obtained all credit and other internal approvals necessary to enter into this Second Amendment and be an Extending Lender, in each case at or prior to 5:00 p.m., New York City time, on September 20, 2019, a consent fee (the “Consent Fees”) in an amount equal to 0.25% of the aggregate principal amount of the outstanding Canadian Term Loans, the U.S. Revolving Commitment, the Canadian Revolving Commitment and the Australian Revolving Commitment of such Lender immediately prior to the Second Amendment Effective Date.  Consent Fees shall be payable (i) in U.S. dollars for the U.S. Revolving Commitment, (ii) in U.S. Dollar Equivalent for the Australian Revolving Commitment and the Canadian Revolving Commitment and (iii) in Canadian dollars for the Canadian Term Loans
Section 6.Conditions Precedent.  This Second Amendment shall not be deemed to be effective until the date on which each of the following conditions is satisfied (or waived in accordance with Section 9.08 of the Credit Agreement) (the “Second Amendment Effective Date”):
(a)    The Administrative Agent shall have received from the Required Lenders, each Extending Lender, each Canadian Revolving Lender, the Borrowers and the Guarantors, counterparts (in such number as may be requested by the Administrative Agent) of this Second Amendment signed on behalf of such Persons.
(b)    The Administrative Agents and the Lead Arranger shall have received all Fees and other amounts due and payable on or prior to the Second Amendment Effective Date, including, to the extent invoiced, reimbursement or payment of all out-of-pocket expenses (including, without limitation, the reasonable fees, charges and disbursements of counsel for the Agents) required to be reimbursed or paid by the Borrowers hereunder, under the Credit Agreement or under any other Loan Document.
(c)    The representations and warranties set forth in Article III of the Amended Credit Agreement and in each other Loan Document shall be true and correct in all material respects (provided that to the extent any representation and warranty is qualified as to “Material Adverse Effect” or otherwise as to “materiality”, such representation and warranty is true and correct in all respects) on and as of the Second Amendment Effective Date with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date, in which case such representation and warranty is true and correct in all material respects (provided that to the extent any such representation and warranty is qualified as to “Material Adverse Effect” or otherwise as to “materiality”, such representation and warranty is true and correct in all respects) as of such earlier date.
(d)    No Default or Event of Default shall have occurred and be continuing, after giving effect to the terms of this Second Amendment.

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(e)    The Administrative Agent shall have received, on behalf of itself, the other Agents, the Lenders and the Issuing Banks:
(i)    any Note requested by a Lender pursuant to Section 2.04 of the Credit Agreement payable to such requesting Lender;
(ii)    a favorable written opinion of each of (1) Simpson Thacher & Bartlett LLP, U.S. counsel for the Borrowers, (2) Dentons Canada LLP, Canadian counsel to the Canadian Borrowers and the Parent Borrower and the Canadian Subsidiary Guarantors and (3) Arnold Bloch Leibler, Australian counsel to the Australian Secured Parties, in each case (A) dated on or about the Second Amendment Effective Date, (B) addressed to the Agents, the Issuing Banks and the Lenders, and (C) covering such matters relating to the Loan Documents in respect of the jurisdiction of the relevant counsel as the Administrative Agent shall reasonably request, and the Borrowers hereby request such counsel to deliver such opinions;
(iii)    a certificate as to the good standing or tax status of each Borrower and each Guarantor (other than an Australian Loan Party) or a certified copy of the certificate incorporation of each Australian Loan Party as of a recent date, from the Secretary of State or other relevant Governmental Authority of the state, province or jurisdiction of its organization;
(iv)    a certificate of the Secretary, Assistant Secretary or, in respect of an Australian Loan Party, director or company secretary or, in respect of the Canadian Loan Parties, chief financial officer, vice president, finance officer or other acceptable officer (or such other corporate officer satisfactory to the Administrative Agent) of each Borrower and each Guarantor dated as of the Second Amendment Effective Date and certifying (1) that attached thereto is a true and complete copy of the organizational documents of such Borrower or Guarantor as in effect on the Second Amendment Effective Date and at all times since a date prior to the date of the resolutions described in clause (2) below (or, if previously delivered and, as applicable, a certification that there have been no changes, amendments or modifications thereto since previously delivered), (2) that (A) in the case of a Borrower or Guarantor other than an Australian Loan Party, attached thereto is a true and complete copy of, or (B) in the case of an Australian Loan Party, attached there is an extract of, resolutions duly adopted by the Board of Directors (or persons performing similar functions) of such Borrower or Guarantor authorizing the Transactions to be entered into by such Borrower or Guarantor pursuant hereto, and the execution, delivery and performance of the Loan Documents to which such person is a party and, in the case of the Borrowers, the borrowings under the Amended Credit Agreement, and that such resolutions have not been modified, rescinded or amended and are in full force and effect, and (3) as to the incumbency and specimen signature of each officer executing any Loan Document or any other document delivered in connection herewith on behalf of such Borrower or Guarantor; and
(v)    a certificate, dated the Second Amendment Effective Date and signed by a Financial Officer of the Parent Borrower, certifying (1) both immediately before and after giving effect to this Second Amendment, the increase of the Canadian Revolving Commitments and the extension of the Maturity Date, compliance with the conditions precedent set forth in Section 6(c) and (d) hereof and (2) that the Parent Borrower and its subsidiaries, taken as a whole, will be Solvent on the Second Amendment Effective Date.
Section 7.Representations and Warranties.  As of the date hereof, each Borrower hereby represents and warrants to the Administrative Agent and each of the Lenders as follows:

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(a)    The representations and warranties set forth in Article III of the Credit Agreement and in each other Loan Document are true and correct in all material respects (provided that to the extent any representation and warranty is qualified as to “Material Adverse Effect” or otherwise as to “materiality”, such representation and warranty is true and correct in all respects) on and as of the date hereof with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date, in which case such representation and warranty is true and correct in all material respects (provided that to the extent any such representation and warranty is qualified as to “Material Adverse Effect” or otherwise as to “materiality”, such representation and warranty is true and correct in all respects) as of such earlier date.
(b)    No Default or Event of Default exists or would exist immediately after giving effect to the transactions contemplated by the Second Amendment and the making of any Incremental Revolving Credit Increase.
Section 8.Miscellaneous:

(a)    Confirmation.  The provisions of the Credit Agreement, as amended by this Second Amendment, are hereby ratified and confirmed by the Borrowers and shall remain in full force and effect following the effectiveness of this Second Amendment.  The amendments contained herein shall not be construed as a waiver or amendment of any other provision of the Credit Agreement or the other Loan Documents or for any purpose except as expressly set forth herein or a consent to any further or future action on the part of the Borrowers or the other Loan Parties that would require the waiver or consent of the Administrative Agents or the Lenders.
(b)    Ratification and Affirmation.  Each of the Borrowers and Guarantors hereby (a) acknowledges the terms of this Second Amendment, including the increase in Canadian Revolving Commitments and the guarantee of each Guarantor of such increased amount, and (b) ratifies and affirms its obligations under, and acknowledges, renews and extends its continued liability under, each Loan Document to which it is a party and agrees that each Loan Document to which it is a party remains in full force and effect, except as expressly amended or modified hereby.
(c)    Loan Document.  This Second Amendment is a “Loan Document” as defined and described in the Credit Agreement and all of the terms and provisions of the Amended Credit Agreement relating to Loan Documents shall apply hereto.
(d)    Counterparts.  This Second Amendment may be executed by one or more of the parties hereto in any number of separate counterparts, and all of such counterparts taken together shall be deemed to constitute one and the same instrument.  Delivery of this Second Amendment by facsimile or electronic transmission shall be effective as delivery of a manually executed counterpart hereof.
(e)    NO ORAL AGREEMENT.  THIS SECOND AMENDMENT, THE CREDIT AGREEMENT AND THE OTHER LOAN DOCUMENTS EXECUTED IN CONNECTION HEREWITH AND THEREWITH REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR UNWRITTEN ORAL AGREEMENTS OF THE PARTIES.  THERE ARE NO SUBSEQUENT ORAL AGREEMENTS BETWEEN THE PARTIES.

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(f)    GOVERNING LAW.  THIS SECOND AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK.
Section 9.No Fiduciary Relationship.  The Loan Parties acknowledge that none of the Agents, the Issuing Banks, the Swing Line Lenders, the Lenders or their respective Affiliates is acting as a fiduciary for or advisor to the Loan Parties.

[SIGNATURES BEGIN NEXT PAGE]

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

BORROWERS:
CIVEO CORPORATION

By:  /s/ Frank C. Steininger____________
 
Name:     Frank C. Steininger
 Title:       Executive Vice President, Chief Financial     Officer and Treasurer

CIVEO CANADA OPERATIONS GP LTD., on behalf of and in its capacity as general partner of CIVEO CANADA LIMITED PARTNERSHIP

By:  /s/ Bradley J. Dodson________________________
Name: Bradley J. Dodson 
Title: President and Director

CIVEO MANAGEMENT LLC

By:  /s/ Frank C. Steininger_______________________ 
Name:     Frank C. Steininger 
Title:    Senior Vice President, Chief Financial     Officer and Treasurer 
 
 
CIVEO PTY LIMITED

/s/ Frank C. Steininger        ___________________ 
Signature of Director  

Frank C. Steininger                ______
 Name of Director

/s/ Bradley J. Dodson____________________________ 
Signature of Director/Company Secretary  

Bradley J. Dodson                
 Name of Director/Company Secretary

Signature Page to Second Amendment to Amended and Restated Syndicated Facility Agreement

GUARANTORS:
CIVEO OFFSHORE LLC

By:  /s/ Frank C. Steininger    
Name: Frank C. Steininger 
Title: Senior Vice President and Treasurer

CIVEO USA LLC

By:  /s/ Frank C. Steininger    
Name: Frank C. Steininger 
Title: Senior Vice President and Treasurer

CIVEO WATER AND WASTE WATER USA, LLC

By:  /s/ Frank C. Steininger    
Name: Frank C. Steininger 
Title: Senior Vice President and Treasurer

CIVEO GP HOLDINGS CORPORATION

By:  /s/ Frank C. Steininger    
Name: Frank C. Steininger 
Title: Vice President and Director

CIVEO CANADA OPERATIONS GP LTD.

By:  /s/ Bradley J. Dodson    
Name: Bradley J. Dodson 
Title: President and Director

CIVEO LODGE GP LTD.

By:  /s/ Bradley J. Dodson    
Name: Bradley J. Dodson 
Title: President and Director

CIVEO LODGE GP LTD., on behalf of and in its capacity as general partner of CIVEO LODGE EMPLOYEES LIMITED PARTNERSHIP

By: /s/ Bradley J. Dodson    
Name: Bradley J. Dodson
Title: President and Director

WATER CANADA GP LTD.

By:  /s/ Bradley J. Dodson    
Name: Bradley J. Dodson 
Title: President, Chief Executive Officer and Director

RED TABLE CATERING GP LTD.

By:  /s/ Bradley J. Dodson    
Name: Bradley J. Dodson 
Title: President, Chief Executive Officer and Director

CANADA GP LTD.

By:  /s/ Frank C. Steininger    
Name: Frank C. Steininger 
Title: Vice President and Director

CIVEO PREMIUM SERVICES GP LTD.

By:  /s/ Frank C. Steininger    
Name: Frank C. Steininger 
Title: Vice President and Director

NORTHERN CATERING GP LTD.

By:  /s/ Bradley J. Dodson    
Name: Bradley J. Dodson 
Title: President and Director

BUFFALO CATERING GP LTD.

By:  /s/ Bradley J. Dodson    
Name: Bradley J. Dodson 
Title: President and Director

INSTALLATIONS GP LTD.

By:  /s/ Frank C. Steininger    
Name: Frank C. Steininger 
Title: Vice President and Director

CROWN SERVICES GP LTD.

By:  /s/ Frank C. Steininger    
Name: Frank C. Steininger 
Title: Vice President and Director

FORT MCMURRAY LODGE SERVICES GP LTD.

By:  /s/ Bradley J. Dodson    
Name: Bradley J. Dodson 
Title: President and Director

1046567 B.C. LTD.

By:  /s/ Collin Gerry    
Name: Collin Gerry
Title: President and Director

CHRISTINA LAKE ENTERPRISES LTD.

By:  /s/ Bradley J. Dodson    
Name: Bradley J. Dodson 
Title: President, Chief Executive Officer and Director

CIVEO SERVICES GP LTD.

By:  /s/ Bradley J. Dodson    
Name: Bradley J. Dodson 
Title: Director

CIVEO PACIFIC NORTHWEST GP LTD.

By:  /s/ Bradley J. Dodson    
Name: Bradley J. Dodson
Title: President, Chief Executive Officer and Director

NORALTA LODGE LTD.

By:  /s/ Frank C. Steininger    
Name: Frank C. Steininger
Title: Vice President and Director

WATER CANADA GP LTD, on behalf of and in its capacity as general partner of CIVEO WATER CANADA EMPLOYEES LIMITED PARTNERSHIP

By:  /s/ Bradley J. Dodson    
Name: Bradley J. Dodson 
Title: President, Chief Executive Officer and Director

RED TABLE CATERING GP LTD, on behalf of and in its capacity as general partner of RED TABLE EMPLOYEES LIMITED PARTNERSHIP

By:  /s/ Bradley J. Dodson    
Name: Bradley J. Dodson 
Title: President, Chief Executive Officer and Director

CIVEO PREMIUM SERVICES GP LTD, on behalf of and in its capacity as general partner of CIVEO PREMIUM SERVICES EMPLOYEES LIMITED PARTNERSHIP

By:  /s/ Frank C. Steininger    
Name: Frank C. Steininger 
Title: Vice President and Director

INSTALLATIONS GP LTD, on behalf of and in its capacity as general partner of CIVEO INSTALLATIONS EMPLOYEES LIMITED PARTNERSHIP

By:  /s/ Frank C. Steininger    
Name: Frank C. Steininger 
Title: Vice President and Director

CROWN SERVICES GP LTD, on behalf of and in its capacity as general partner of CIVEO CROWN SERVICES EMPLOYEES LIMITED PARTNERSHIP

By:  /s/ Frank C. Steininger    
Name: Frank C. Steininger 
Title: Vice President and Director

CANADA GP LTD., on behalf of and in its capacity as general partner of CIVEO CANADA EMPLOYEES LIMITED PARTNERSHIP

By:  /s/ Frank C. Steininger    
Name: Frank C. Steininger 
Title: Vice President and Director

CIVEO SERVICES GP LTD., on behalf of and in its capacity as general partner of CIVEO SERVICES EMPLOYEES LIMITED PARTNERSHIP

By:  /s/ Bradley J. Dodson    
Name: Bradley J. Dodson
Title: Director

CIVEO PACIFIC NORTHWEST GP LTD., on behalf of and in its capacity as general partner of CIVEO PACIFIC NORTHWEST EMPLOYEES LIMITED PARTNERSHIP

By:  /s/ Bradley J. Dodson    
Name: Bradley J. Dodson
Title: President, Chief Executive Officer and Director

CIVEO CANADA OPERATIONS GP LTD., on behalf of and in its capacity as general partner of RED TABLE FOODS LIMITED PARTNERSHIP

By:  /s/ Bradley J. Dodson    
Name: Bradley J. Dodson
Title: President and Director

CIVEO PROPERTY PTY LTD.

By:  /s/ Frank C. Steininger    
Name: Frank C. Steininger 
Title: Director

By:  /s/ Bradley J. Dodson    
Name: Bradley J. Dodson 
Title: Director 

CIVEO HOLDING COMPANY 2 PTY LTD.

By:  /s/ Frank C. Steininger    
Name: Frank C. Steininger 
Title: Director

By:  /s/ Bradley J. Dodson    
Name: Bradley J. Dodson 
Title: Director 

ROYAL BANK OF CANADA,  
as Administrative Agent, U.S. Collateral Agent, Canadian Administrative Agent and Canadian Collateral Agent
    
By:          /s/ Ann Hurley________________________ 
Name:          Ann Hurley     
Title:           Manager, Agency

RBC EUROPE LIMITED,  
as Australian Administrative Agent, Australian Collateral Agent and an Issuing Lender
    
By:      /s/ Johnson Tse__________________________ 
Name:   Johnson Tse 
Title:     Authorized Signatory

Signature Page to Second Amendment to Amended and Restated Syndicated Facility Agreement

ROYAL BANK OF CANADA, as a U.S. Lender, the U.S. Swing Line Lender, an Issuing Bank, and an Extending Lender 
    
By:      /s/ Jay T. Sartain_________________________ 
Name:    Jay T. Sartain 
Title:     Authorized Signatory

Signature Page to Second Amendment to Amended and Restated Syndicated Facility Agreement

ROYAL BANK OF CANADA, as a Canadian Lender, the Canadian Swing Line Lender, an Issuing Bank, and an Extending Lender 

By:      /s/ Mike Gaudet__________________________ 
Name:    Mike Gaudet 
Title:     Authorized Signatory

Signature Page to Second Amendment to Amended and Restated Syndicated Facility Agreement

ROYAL BANK OF CANADA, as an Australian Lender, an Issuing Bank and an Extending Lender 

By:      /s/ Marcus Rayment_______________________ 
Name:    Marcus Rayment 
Title:     Director, Corporate Banking

Signature Page to First Amendment to Amended and Restated Syndicated Facility Agreement

THE BANK OF NOVA SCOTIA, as a Canadian Lender and an Issuing Bank

By:  /s/ Scott Nickel    
		
	Name: Scott Nickel
	 

Title:    Director

 

BNS ASIA LIMITED, as an Australian Lender 

By:  /s/ Mark Levia    
		
	Name:
	Mark Levia

		
	Title:
	Director, Head of Execution & Head of BNSAL BNS Asia Limited

BANK OF MONTREAL, as a Canadian Lender
    
By:  /s/ Adam Sisulak___________________________ 
Name: Adam Sisulak 
Title: Director, BMO Corporate Finance

By:  /s/ Nicholas Power__________________________ 
Name: Nicholas Power 
Title: Managing Director, BMO Corporate Finance

 

HSBC BANK CANADA, as a Canadian Lender

By:  /s/ Sean Cochrane    
Name: Sean Cochrane
Title:    Assistant Vice President, Corporate Banking

By:  /s/ Bruce Robinson    
Name: Bruce Robinson
Title:   Vice President, Energy Financing

For and on behalf of THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, SYDNEY BRANCH by its duly authorised attorney pursuant to a power of attorney in the presence of:

By:  /s/ Nadia Ladak    
Name: Nadia Ladak
Title:   Power of Attorney

By:  /s/ Christie Lei Weng Hang    
Name: Christie Lei Weng Hang
Title:   Witness

THE TORONTO-DOMINION BANK, as a Canadian Lender and an Issuing Bank 

By:  /s/ Neeraj Khanna    
Name: Neeraj Khanna
Title:   Senior Analyst, Commercial National Accounts

By:  /s/ Kyla Rackley    
Name:  Kyla Rackley
Title:    Associate V.P. Credit Management, Commercial National Accounts

Signature Page to Second Amendment to Amended and Restated Syndicated Facility Agreement

TORONTO-DOMINION (TEXAS) LLC, as a U.S. Lender

By:  /s/ Pradeep Mehra    
		
	Name:
	Pradeep Mehra

		
	Title:
	Authorized Signatory

Signature Page to Second Amendment to Amended and Restated Syndicated Facility Agreement

NATIONAL BANK OF CANADA, as a Canadian Lender and an Australian Lender 

By:  /s/ Jason Anderson    
		
	Name:
	Jason Anderson

		
	Title:
	Director, Energy Services

By:  /s/ Darrell Stelmack    
		
	Name:
	Darrell Stelmack

		
	Title:
	Director, Energy Services Group

ATB FINANCIAL, as Canadian Lender

By:  /s/ Paul Spiller    
		
	Name:
	Paul Spiller

		
	Title:
	Senior Director

By:  /s/ Matthew Oliphant    
		
	Name:
	Matthew Oliphant

		
	Title:
	Portfolio Manager

WELLS FARGO BANK N.A., CANADIAN BRANCH, as Canadian Lender

By:      
Name:    
Title:    

WELLS FARGO BANK, NATIONAL ASSOCIATION, as an Australian Lender

By:      
Name:    
Title:    

SUMITOMO MITSUI BANKING CORPORATION, as a U.S. Lender

By:      
Name:    
Title:    

SUMITOMO MITSUI BANKING CORPORATION, CANADA BRANCH, as a Canadian Lender 

By:      
Name:    
Title:    

CANADIAN WESTERN BANK, as a Canadian Lender

By:  /s/ Kuno Ryckborst    
		
	Name:
	Kuno Ryckborst

		
	Title:
	Senior Manager, Energy Lending

By:  /s/ Erin Depoe    
		
	Name:
	Erin Depoe

		
	Title:
	AVP, Business Development

ANNEX I

SCHEDULE 2.01
Lenders and Commitments/Loans

US-DOCS\110695394.8

SCHEDULE 2.01
Lenders and Commitments/Loans
(all amounts in U.S. dollars, except noted otherwise in parentheses)
	
																			
	Bank
	U.S. Revolving 
Commitment
	Canadian Revolving 
Commitment
	Australian Revolving 
Commitment
	Canadian Term Loans as of the Closing Date (C$)
	Canadian Term Loans as of the Second Amendment date (C$)
	Total 
Commitments / Loans

	Royal Bank of Canada
	

	$10,155,236.80
	

	

	$10,776,450.02
	

	

	$10,438,596.70
	

	

	$102,261,373.31
	

	$71,856,381.87
	

	$85,397,638.31
	

	The Bank of Nova Scotia
	–
	

	$16,733,658.24
	

	–
	

	$81,989,742.14
	

	$45,953,847.45
	

	$51,285,423.24
	

	BNS Asia Limited
	–
	–
	

	$10,438,596.70
	

	–
	–
	

	$10,438,596.70
	

	HSBC Bank Canada
	–
	

	$22,500,000.00
	

	–
	

	

	$64,500,000.00
	

	$53,212,500.00
	

	$62,509,398.50
	

	The Hong Kong and Shanghai Banking Corporation Limited, Sydney Branch
	–
	–
	

	$21,250,000.00
	

	–
	–
	

	$21,250,000.00
	

	The Toronto-Dominion Bank
	–
	

	$14,003,190.24
	

	–
	

	$51,568,594.35
	

	$42,544,090.34
	

	$45,991,228.09
	

	Toronto-Dominion (Texas) LLC
	

	$2,488,038.40
	

	–
	–
	–
	

–
	

	$2,488,038.40
	

	National Bank of Canada
	–
	

	$15,454,427.63
	

	

	$7,434,209.90
	

	

	$28,394,522.90
	

	$23,425,481.39
	

	$40,501,781.44
	

	ATB Financial
	–
	

	$16,942,712.43
	

	–
	

	$28,324,766.28
	

	

	$23,367,932.18
	

	

	$34,512,586.25
	

	Wells Fargo Bank National Association, Canadian Branch (2)
	–
	

	$15,689,665.44
	

	–
	

	$11,084,438.52
	

	

	$9,144,661.80
	

	

	$22,565,351.00
	

	
																			
	Bank
	U.S. Revolving 
Commitment
	Canadian Revolving 
Commitment
	Australian Revolving 
Commitment
	Canadian Term Loans as of the Closing Date (C$)
	Canadian Term Loans as of the Second Amendment date (C$)
	Total 
Commitments / Loans

	Wells Fargo Bank, National Association(3)
	–
	–
	

	$10,438,596.70
	

	–
	

–
	

	$10,438,596.70
	

	Sumitomo Mitsui Banking Corporation(4)
	

	$7,356,724.80
	

	–
	–
	–
	

–
	

	$7,356,724.80
	

	Sumitomo Mitsui Banking Corporation, Canada Branch(5)
	–
	

	$22,500,000.00
	

	–
	–
	

–
	

	$22,500,000.00
	

	Canadian Western Bank
	–
	

	$24,899,896.00
	

	–
	–
	

–
	

	$24,899,896.00
	

	Bank of Montreal
	–
	

	$24,000,000.00
	

	–
	–
	$34,196,940.95
	

	$49,711,985.68
	

	TOTAL
	

	$20,000,000.00
	

	

	$183,500,000.00
	

	

	$60,000,000.00
	

	

	$368,123,437.50
	

	

	$303,701,835.99
	

	

	$491,847,245.10
	

__________________  
(2)  Non-Extending Lender.
(3)  Non-Extending Lender.
(4)  Non-Extending Lender.
(5)  Non-Extending Lender.

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