Document:

EX-10.1

 EXHIBIT 10.1 

Portions of this Exhibit have been redacted pursuant to a request for confidential treatment under Rule 24b-2 of the General Rules and Regulations under the
Securities Exchange Act of 1934. Omitted information, marked “[*]” in this Exhibit, has been filed separately with the Securities and Exchange Commission together with such request for confidential treatment. 

NANOPHASE TECHNOLOGIES CORPORATION 

and 
 ESTER SOLUTIONS COMPANY 

 
  

SUPPLY AGREEMENT 
  

 

 Portions of this Exhibit have been redacted pursuant to a request for confidential treatment under Rule
24b-2 of the General Rules and Regulations under the Securities Exchange Act of 1934. Omitted information, marked “[*]” in this Exhibit, has been filed separately with the Securities and Exchange Commission together with such request for
confidential treatment. 
  

 SUPPLY AGREEMENT 

This Supply Agreement (“Agreement”) is made as of March 31, 2016, by and between Nanophase Technologies Corporation, a corporation organized
and existing under the laws of the State of Delaware having its principal place of business at 1319 Marquette Drive, Romeoville, IL 60446 (“Supplier”) and Ester Solutions Company., a Delaware corporation having its principal place
of business at 120 South Riverside Plaza, Ste. 1620, Chicago, IL 60606 (“Company”). 
 RECITALS: 

Company wishes to obtain from Supplier, and Supplier is willing to supply to Company, from time to time, certain products subject to the terms and conditions
of this Agreement. 
 TERMS AGREED: 
  

	1.	DEFINITIONS AND INTERPRETATION 

  

	1.1	In this Agreement: 

  

			
	“Agreement”	  	means this Agreement, together with its Schedules.
		
	“Confidential Information”	  	means, in relation to either party, information belonging or relating to that party, its business, business plans, affairs or activities, which information is confidential and proprietary to that party;
		
	“Contract”	  	means a contract for the sale and purchase of Products between Supplier and Company, formed by Supplier’s acceptance of an Order, and subject to the terms of this Agreement;
		
	“Delivery”	  	means, in relation to any Contract, transfer of physical possession of the Product in accordance with the INCOTERM applicable to such Contract;
		
	“Documentation”	  	means documentation relating to the operation, support and maintenance of the Products;
		
	“Effective Date”	  	means the date of execution hereof;
		
	“Intellectual Property Right”	  	means any patent, registered design, copyright, design right, topography right, trade mark, business name, application to register any of the aforementioned rights, trade secret, unpatented know-how and right of confidence, and any
other intellectual property right of any nature whatsoever in any part of the world;

 Portions of this Exhibit have been redacted pursuant to a request for confidential treatment under Rule
24b-2 of the General Rules and Regulations under the Securities Exchange Act of 1934. Omitted information, marked “[*]” in this Exhibit, has been filed separately with the Securities and Exchange Commission together with such request for
confidential treatment. 
  

 
			
	“Market Competitive Terms”	  	“Market Competitive Terms” means the pricing, specification and other material terms related to the Products (or products that reasonably substitute for the Products) offered by any supplier that, taken in the aggregate,
are most favorable to Company.
		
	“Order”	  	means an order placed by Company for the supply of Products on the terms and conditions of this Agreement, stating Company’s order number, the Products ordered and the price(s) thereof, and the requested Delivery date(s) and
Delivery address(es);
		
	“Products”	  	means the products manufactured by Supplier and set out in Schedule 1, together with any other products agreed in writing between the parties from time to time, which Supplier has agreed to supply to Company under this
Agreement or any Contract;
		
	“Specifications”	  	means the Product specifications and any other specifications, and any amendments thereto, agreed in writing between Supplier and Company from time to time.

  

	1.2	Terms. Unless otherwise agreed in writing between the parties, all Contracts are entered into on the basis of the terms and conditions of this Agreement, to the exclusion of any other terms and
conditions set out or referred to in any document or other communication used by either party in concluding a Contract. In the event of any conflict between the terms and conditions of this Agreement and any other document or communication, the
former shall prevail. 

  

	1.3	Headings. Clause headings are for ease of reference and do not form part of nor shall they affect the interpretation of this Agreement. 

 

	1.4	Schedules. The Schedules referred to form part of this Agreement. 

  

	1.5	Interpretation. Where the context so admits or requires words denoting the singular include the plural and vice versa and words denoting any gender include all genders. 

 

	1.6	Successors. References to each party include its permitted assigns and successors by operation of law. 

  

	1.7	Precedence. In the event of any inconsistency between the provisions of any Schedule hereto and the provisions of the main body of this Agreement, the latter shall prevail to the extent of the
inconsistency. 

  

	2.	ORDERS AND DELIVERY 

  

	2.1	Contract. The placing by Company of an Order under and in accordance with this Agreement and acceptance thereof by Supplier shall create a Contract, subject to the terms of this Agreement.

 Portions of this Exhibit have been redacted pursuant to a request for confidential treatment under Rule
24b-2 of the General Rules and Regulations under the Securities Exchange Act of 1934. Omitted information, marked “[*]” in this Exhibit, has been filed separately with the Securities and Exchange Commission together with such request for
confidential treatment. 
  

	2.2	Acceptance. No Contract shall be deemed in effect unless and until Supplier has accepted Company’s Order by issuing a written order acceptance. Company agrees to place orders with a minimum
lead-time of [*] days to requested delivery date and with quantities in increments of [*] kg. Supplier shall maintain capacity sufficient to fulfill orders of up to [*] kg of HallBrite EZ-FLO TDX OR [*] kg of HallBrite EZ_FLO TDX+ within [*]
days of receiving such orders. 

  

	2.3	Shipment. Supplier will establish a shipment schedule for each order accepted from Company. Supplier will ship the Products from its facility in accordance with this schedule, subject to delays
beyond Supplier’s control. Supplier will select the method of shipment for Company’s account. 

  

	2.4	Cancelation. Company shall be entitled to cancel any Order, in whole or in part, by giving written notice to Supplier. On any such cancellation, Company shall within thirty (30) days of receipt
of Supplier’s invoice pay the following cancellation charges: 

  

					
	 Notice before specified Delivery date (days)
	  	Cancellation charge
(% of price of cancelled
Order, or part thereof)	 
		
	 Not less than 60
	  	 	[	*]% 
	 Less than 60, but not less than 30
	  	 	[	*]% 

 No Order may be cancelled less than [30] days prior to the scheduled delivery date. 

 

	2.5	Purchase Commitment. Provided that Supplier is able to supply the Company with Products on Market Competitive Terms, Supplier shall sell and Company agrees to purchase Company’s requirements
for the Products (or products that reasonably substitute for the Products) from Supplier. If Company obtains a quotation to supply Products (or products that reasonably substitute for the Products) from a third party on terms that are, in the
aggregate, more favorable to Company than those offered by Supplier, Company shall notify Supplier promptly in writing of the identity of the third party supplier and the proposed terms of supply. Supplier will have five (5) business days to agree
in writing to supply Company with Products on terms that are, in the aggregate, at least as favorable to Company as those offered by such third party supplier. If Supplier agrees to supply Company with Products on terms that are, in the aggregate,
at least as favorable to Company as those offered by such third party supplier, Company shall purchase the Products from Supplier. If Supplier fails to so notify Company within said five (5) business days, Company shall be free to purchase the
Products (or products that reasonably substitute for the Products) from such third party supplier. Company agrees not to disclose or attempt to transfer any of the Supplier’s IP to any party in order to enable the Company to purchase a similar
product from another company. 

  

	2.6	Forecast. Within ten (10) days after the end of each quarter of this Agreement, Company will provide Supplier with a rolling (180) day forecast (“Forecast”) of its anticipated requirements
for the Products. 

  

	2.7	Delivery. Supplier shall deliver the Products, EX WORKS Supplier’s premises (INCOTERMS 2010) unless otherwise agreed in a Contract. Risk of loss will pass to Company when Products leave
Supplier’s dock. 

  

	2.8	 Inspection. Company will inspect the Products upon arrival and immediately notify Supplier of any
damage, tampering, shortage or other discrepancy between the Products and shipping 

 Portions of this Exhibit have been redacted pursuant to a request for confidential treatment under Rule
24b-2 of the General Rules and Regulations under the Securities Exchange Act of 1934. Omitted information, marked “[*]” in this Exhibit, has been filed separately with the Securities and Exchange Commission together with such request for
confidential treatment. 
  

	 	
documents. Company will retain any damaged or tampered Product in its original packaging for inspection by Supplier or the insurer. Any claim not reported to Supplier within fifteen (15)
days after arrival may be denied. 

  

	3.	PRICES AND PAYMENT 

  

	3.1	Pricing. Company will pay Supplier for its documented costs of production and delivery of the Products to Company (“COGS”). In addition, Company will pay Supplier [*] percent ([*]%)
of Company’s Net Profit from sales of the Products to customers. For purposes of this section, “Net Profit” shall mean the amounts actually received from a customer for the sale of the Product, less (i) all taxes, duties and similar
charges, (ii) shipping costs from Supplier to Company’s US warehouse, and (iii) all COGS amounts previously paid to Supplier for such Product. 

  

	3.2	Payment. Absent the written agreement of Supplier and Company stating otherwise, all amounts due for (i) COGS shall be payable within [*] days from the date of Supplier’s invoice, and (ii)
Company Net Profits shall be payable within [*] days from the date Company actually receives payment from the customer. All amounts due under this Agreement or a Contract shall be paid in U.S. Dollars by direct bank transfer to Supplier’s
nominated bank account, or such other means as may be agreed between the parties in writing from time to time. Company shall bear all bank charges associated with any such payment. On a quarterly basis, Company shall provide to Supplier a
schedule of business activity, to include price per unit of sale, and the units of sale for each invoice issued by Company for the sale of the Products. 

  

	3.3	Taxes. Any taxes, excises and/or other governmental charges upon the production, sale or shipment of the Product sold hereunder, now imposed or hereafter becoming effective during the term of this
agreement, shall be added to the pricing herein provided, and shall be part of the COGS, in the case of such charges levied on Supplier and shall reduce the Company Net Profit amount, in the case of charges levied on Company. 

 

	4.	LIMITED WARRANTY 

  

	4.1	No Conflict. Supplier represents and warrants that its execution and performance of this Agreement will not conflict with any other obligation to which Supplier may be bound. 

 

	4.2	Limited Warranty. Supplier warrants to Company that the Products will conform to their applicable Specifications as listed on their respective Certificates of Analysis (CofAs) for the duration of
the period of time defined by the retest dates provided on said CofAs (Warranty Period”). 

  

	4.3	Remedy. In case of breach of warranty during the Warranty Period, Supplier will, at its option, correct or replace the defective Product. If Supplier determines that a defective Product cannot
be corrected or replaced within a reasonable period of time or on reasonable terms, Company may return the defective Product to Supplier in exchange for a refund of the price that Company actually paid to Supplier for such defective Product. The
foregoing states Company’s exclusive remedy and Supplier’s sole liability, with respect to breach of warranty or any other duty related to the quality of the Product in accordance with applicable law. 

 

	4.4	 Disclaimer. SUPPLIER MAKES NO OTHER WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, STATUTORY OR OTHERWISE, CONCERNING THE 

 Portions of this Exhibit have been redacted pursuant to a request for confidential treatment under Rule
24b-2 of the General Rules and Regulations under the Securities Exchange Act of 1934. Omitted information, marked “[*]” in this Exhibit, has been filed separately with the Securities and Exchange Commission together with such request for
confidential treatment. 
  

	 	
PRODUCTS, INCLUDING, WITHOUT LIMITATION, THE IMPLIED WARRANTIES OF FITNESS FOR A PARTICULAR PURPOSE OR MERCHANTABILITY. COMPANY ASSUMES ALL RISKS AND LIABILITY FOR (i) RESULTS OBTAINED BY THE USE
OF THE PRODUCT PURCHASED HEREUNDER, WHETHER USED AS DELIVERED IN COMBINATION WITH OTHER PRODUCTS, (ii) DETERMINING FITNESS FOR USE IN, OR IN CONJUNCTION WITH, OTHER PRODUCTS, (iii) OBTAINING GOVERNMENTAL HEALTH, SAFETY, ENVIRONMENTAL OR OTHER
APPROVALS FOR UTILIZATION, AND (iv) FOR ANY LOSS OR DAMAGE RESULTING FROM THE HANDLING, USE OR MISUSE BY COMPANY OF PRODUCTS PURCHASED HEREUNDER. 

  

	5.	MARKS 

  

	5.1	Ownership. All trademarks, service marks, trade names, logos or other words or symbols identifying the Products (the “Marks”) are and will remain the exclusive property of Supplier,
whether or not specifically recognized or perfected under applicable law. Company will not acquire any right in the Marks, except the limited use rights specified in Section 5.2. Company will not register, directly or indirectly, any trademark,
service mark, trade name, company name or other proprietary or commercial right that is identical or confusingly similar to the Marks or that constitute translations thereof. 

 

	5.2	Use. Company will use the Marks exclusively to advertise and promote the Products. All advertisements and promotional materials will (i) clearly identify Supplier as the owner of the Marks, (ii)
conform to Supplier’s then-current trademark and logo guidelines, and (iii) otherwise comply with any notice or marking requirement under applicable law. Before publishing or disseminating any advertisement or promotional materials bearing a
Mark, Company will deliver a sample of the advertisement or promotional materials to Supplier for prior approval. If Supplier notifies Company that the use of the Mark is inappropriate, Company will not publish or otherwise disseminate the
advertisement or promotional materials until they have been modified to Supplier’s satisfaction. 

  

	6.	INDEMNITY 

 Without limiting Supplier’s rights under this Agreement, and in addition thereto,
Company shall indemnify and hold harmless, and at Supplier’s request, defend Supplier and its related persons from and against all damages, losses, liabilities and expenses suffered or incurred by Supplier or its related persons in connection
with any claim arising from (1) Supplier’s breach of its representation and warranty in Section 4.1, (2) any warranty, condition, representation, indemnity or guarantee granted by Company with respect to its Products in addition to or in lieu
of the warranty set forth in Section 4.2, (3) any omission or inaccuracy in Company’s advertisements and promotional materials that relate to the Products, (4) any modification of or addition to the Products performed or authorized by Company.
This Section will not be construed to limit or exclude any other claims or remedies which a party may assert under this Agreement or by law. 
  

	7.	CONFIDENTIALITY 

  

	7.1	 Information. Each of the parties acknowledges that, whether in the course of execution and performance of this Agreement or
otherwise, it has and will receive or become aware of Confidential Information of the other party. Each party will keep all Confidential Information of the other party confidential, secure and protected against theft, damage, loss or
unauthorized access, and will not at any time without the prior written consent of the 

 Portions of this Exhibit have been redacted pursuant to a request for confidential treatment under Rule
24b-2 of the General Rules and Regulations under the Securities Exchange Act of 1934. Omitted information, marked “[*]” in this Exhibit, has been filed separately with the Securities and Exchange Commission together with such request for
confidential treatment. 
  

	 	
other party use or disclose any of the other party’s Confidential Information other than for the sole purpose of the performance of its obligations and the exercise of its rights under this
Agreement. Each party will ensure that its respective employees, agents and contractors to whom Confidential Information of the other party is disclosed are made aware of its confidentiality obligations and agree to be bound by them.

  

	7.2	Nondisclosure. Neither party may, without the other party’s prior written consent, disclose any information or issue any press release or public announcement regarding the existence, subject
matter or terms of this Agreement. Nothing in this Agreement shall prevent either party from meeting its disclosure obligations with the SEC or other regulatory authority. 

 

	7.3	Limitations. The obligations imposed by this Section 7 shall survive the expiry or termination of this Agreement but shall not apply to any Confidential Information to the extent to which it:

  

	 	(a)	at the time it is received is in the public domain, or subsequently comes into the public domain through no fault of the recipient, its employees, agents or contractors; 

 

	 	(b)	is lawfully received by the recipient from a third party on an unrestricted basis; 

  

	 	(c)	is already know to the recipient before receipt from the discloser; 

  

	 	(d)	is independently developed by the recipient or its employees, agents or contractors without reliance on the discloser’s confidential information; or 

 

	 	(e)	is required to be disclosed by law, regulation or pursuant to an order of a competent authority, provided the recipient provides the discloser with reasonable written notice prior to any such disclosure.

  

	8.	INTELLECTUAL PROPERTY RIGHTS 

  

	8.1	Ownership. All Intellectual Property Rights in and in relation to the Products that a party developed prior to the Effective Date shall be and remain the sole and exclusive property of such party
(“Pre-Existing IP”). All Intellectual Property Rights in and in relation to the Products developed on or after the Effective Date shall be and remain the sole and exclusive property of Supplier. Notwithstanding the foregoing, as between
Suppler and Company, all Intellectual Property Rights in and in relation to modifications or customizations to the Products (New Product Concept) requested by a customer of Company shall be under the sole ownership of the Company, and the Company
shall have the exclusive right to sell the New Product Concept. Supplier shall not be obligated to make or develop the New Product Concept. Each party hereby grants the other party a limited, non-exclusive and
non-transferable license to use its Pre-Existing IP and its Intellectual Property solely as necessary for the other party to perform its obligations under this Agreement. 

 

	8.2	lndemnity. Subject to the remainder of this Section 8, if an action is brought against a Company or its customer claiming that a Product infringes a patent or a copyright, or misappropriates a trade
secret, Supplier will defend Company at Supplier’s expense and pay the damages and costs finally awarded against Company in the infringement or misappropriation action. Company agrees to (i) notify Supplier promptly upon learning that the
claim might be asserted, (ii) afford Supplier has sole control over the defense of the claim and any negotiation for its settlement or compromise and (iii) fully cooperate with Supplier in the defense or settlement of the claim. 

 Portions of this Exhibit have been redacted pursuant to a request for confidential treatment under Rule
24b-2 of the General Rules and Regulations under the Securities Exchange Act of 1934. Omitted information, marked “[*]” in this Exhibit, has been filed separately with the Securities and Exchange Commission together with such request for
confidential treatment. 
  

 8.3 Alternative Remedy. In addition to the foregoing, if a claim described in Section 8.2
may be or has been asserted, Company will permit Supplier, at Supplier’s option and expense, to (i) procure the right to continue using the Product, (ii) replace or modify the Product to eliminate the infringement while providing functionally
equivalent performance or (iii) accept the return of the Product in exchange for a refund of the price that Company actually paid to Supplier for such Product. 
  

	8.4	Exclusions. Supplier will have no indemnity obligation to Company, and Company shall indemnify Supplier, if the infringement or misappropriation claim results from (i) a modification of the Product
not provided by Supplier, (ii) the failure to promptly use a functionally equivalent substitute that would have eliminated the actual or alleged infringement, or (iii) the combination of the Product with other items or products not provided by
Supplier, but only if the infringement claim would not have arisen from use of the Product alone. 

  

	8.5	Exclusive Remedy. Sections 8.2 through 8.4 state Company’s exclusive remedy and Supplier’s sole liability, in the event of any infringement or misappropriation claim related to the
Products 

  

	9.	LIABILITY 

 UNDER NO CIRCUMSTANCES WILL EITHER PARTY, ITS LICENSORS OR
RELATED PERSONS BE LIABLE FOR ANY CONSEQUENTIAL, INDIRECT, SPECIAL, PUNITIVE OR INCIDENTAL DAMAGES OR LOST PROFITS, WHETHER FORESEEABLE OR UNFORESEEABLE, BASED ON CLAIMS OF THE OTHER PARTY (INCLUDING, BUT NOT LIMITED TO, CLAIMS FOR LOSS OF
GOODWILL, USE OF MONEY, STOPPAGE OF OTHER WORK OR IMPAIRMENT OF OTHER ASSETS), ARISING OUT OF BREACH OR FAILURE OF EXPRESS OR IMPLIED WARRANTY, BREACH OF CONTRACT, MISREPRESENTATION, NEGLIGENCE, STRICT LIABILITY IN TORT OR OTHERWISE. EXCEPT FOR
SECTIONS 6 AND 8, IN NO EVENT WILL THE AGGREGATE LIABILITY WHICH EITHER PARTY, ITS LICENSORS AND RELATED PERSONS MAY INCUR IN ANY ACTION OR PROCEEDING EXCEED THE TOTAL AMOUNT ACTUALLY PAID TO SUPPLIER BY COMPANY UNDER THIS AGREEMENT. THIS
SECTION WILL NOT APPLY ONLY WHEN AND TO THE EXTENT THAT APPLICABLE LAW SPECIFICALLY REQUIRES LIABILITY, DESPITE THE FOREGOING EXCLUSION AND LIMITATION. 
  

	10.	TERM AND TERMINATION 

  

	10.1	Term. This Agreement shall enter into force on the Effective Date and, subject to earlier termination in accordance with the terms of this Agreement, shall continue in force for an initial period of
three (3) years (“Initial Term”) and shall thereafter automatically renew for successive terms of one (1) year each (each a “Renewal Term” and with the Initial Term, the “Term”), unless other Party provides the other
party not less than ninety (90) days written notice prior to the expiration of the then-current Term of its intention not to renew; provided that all obligations of the parties under Orders accepted prior to the effective date of expiration or
termination shall continue until satisfaction of the parties’ respective obligations in accordance with the terms of this Agreement. 

 Portions of this Exhibit have been redacted pursuant to a request for confidential treatment under Rule
24b-2 of the General Rules and Regulations under the Securities Exchange Act of 1934. Omitted information, marked “[*]” in this Exhibit, has been filed separately with the Securities and Exchange Commission together with such request for
confidential treatment. 
  

	10.2	Termination. Either party may terminate this Agreement or any Contract (as the case may be) immediately at any time by written notice to the other party if: 

 

	 	i.	the other party commits a material breach of this Agreement or the Contract (as the case may be) which is incapable of remedy or which it fails to remedy within thirty (30) days of receiving written notice requiring it
to do so; or 

  

	 	ii.	the other party becomes insolvent, has a receiver, administrative receiver, administrator or manager appointed of the whole or any part of its assets or business, makes any composition or arrangement with its creditors,
takes or suffers any similar action in consequence of debt or an order or resolution is made for its dissolution or liquidation (other than for the purpose of solvent amalgamation or reconstruction). 

 

	11.	COMMITMENT TO SUPPLY 

 Supplier acknowledges and agrees that an uninterrupted supply of Products
is critical to the operation of the Company’s business. Therefore, Supplier shall use its best efforts to supply Products in accordance with this Agreement. Should Supplier be unable to deliver Products for a period of sixty (60) days,
Supplier shall then use its best efforts to manufacture Products at a third party, under the Supplier’s supervision and management. 
 Should supplier
undergo a Change in Control, for the purpose of clarity, Supplier, in whatever form or control, shall remain obligated to the same commitments to perform under this Agreement. 

 

	12.	CONSEQUENCES OF TERMINATION 

  

	12.1	Return. Upon termination of this Agreement for any reason, each party shall, except to the extent permitted or required to exercise or perform its continuing rights, licences or obligations
hereunder, return to the other party all property of the other party (including any specifications, drawings and information provided by either party to the other or any item bearing a Mark) then in its possession, custody or control and shall not
retain any copies of the same. 

  

	12.2	Survival. Termination of this Agreement or any Contract in accordance with the terms hereof shall not affect the accrued rights or liabilities of the parties at the date of termination.

  

	13.	INSPECTION 

 During the term of this Agreement, each party or its representatives may, upon prior
notice to the other party, inspect the equipment and facilities of the other party during normal working hours to verify its compliance with this Agreement, including, in the case of Company, Supplier’s substantiation and records of
Supplier’s raw materials and costs of production, and in the case of Supplier, Company’s substantiation of its calculations of Net Profit, including but not limited to pricing and discounts offered by Company to customers and the costs
associated with the materials supplied by Company to Supplier.. While conducting these inspections, the inspecting party and its representatives will be entitled to copy any item that the other party may possess in violation of this Agreement. 

 Portions of this Exhibit have been redacted pursuant to a request for confidential treatment under Rule
24b-2 of the General Rules and Regulations under the Securities Exchange Act of 1934. Omitted information, marked “[*]” in this Exhibit, has been filed separately with the Securities and Exchange Commission together with such request for
confidential treatment. 
  

	14.	FORCE MAJEURE 

 Neither party will be liable for any failure or delay in performing an obligation
under this Agreement that is due to causes beyond its reasonable control, such as natural catastrophes, governmental acts or omissions, laws or regulations, labor strikes or difficulties, transportation stoppages or slowdowns or the inability to
procure parts or materials. If any of these causes continue to prevent or delay performance for more than ninety (90) days, either party may terminate this Agreement, effective immediately upon notice to the other party. 

 

	15.	ASSIGNMENT 

 Except as may be expressly provided elsewhere in this Agreement, neither party may
assign, sub-license or sub-contract this Agreement or any Contract or any of its rights or obligations under this Agreement or under any Contract without the prior written consent of the other party, and any attempt to do so shall be void; provided
that either party may assign any of its rights and/or obligations under this Agreement or any Contract, upon notice to the other party, (i) to a related company or (ii) to an unrelated company pursuant to a sale, merger or other consolidation of
such party or any of its operating divisions. Company and Supplier further agree that the requirements of Section 14 herein are to be communicated to any known potential third party prior to consummation of a sale, merger or other consolidation.
This Agreement shall be binding upon and inure to the benefit of, the successors and permitted assigns of the parties. An assigning party shall give prompt notice of assignment to the other party. 

 

	16.	EFFECT TERMINATION - LAST TIME BUY ORDER 

 Upon the expiration or termination of this Agreement
for any reason, Company shall have the right to, within [*] days from the date of expiration or termination, place a Last Time Buy Order with Supplier for Products in quantities not more than [*] times the last nonbinding [*] month forecast Customer
provided to Supplier pursuant to Section 2.6 with a delivery schedule generally consistent with the previously agreed upon lead times, delivery dates and other delivery obligations. 

 

	17.	NOTICES 

 All notices and other communications required or permitted to be served or given shall
be in writing and sent by first class post, courier or facsimile to the intended recipient’s address as specified above or such other address as either party may notify to the other from time to time. 

 

	18.	GOVERNING LAW 

 This Agreement shall be governed by and interpreted in accordance with the laws of
the State of Illinois, U.S.A. excluding its conflict of law principles. Supplier and Company exclude application of the United Nations Convention on Contracts for the International Sale of Goods from this Agreement and any transaction between them
that may be implemented in connection with this Agreement. 
  

	19.	VENUE 

 The state and federal courts located in Cook County, Illinois, U.S.A. shall have exclusive
jurisdiction to adjudicate any dispute arising out of this Agreement. Company hereby irrevocably submits itself to the exclusive jurisdiction of the state and federal courts located in Cook County, Illinois, U.S.A., waiving any other jurisdiction
that it may be entitled to because of its current or future addresses, or for any other reason. Notwithstanding the foregoing, either party may apply for interim or permanent injunctive relief in any court of competent jurisdiction. 

 Portions of this Exhibit have been redacted pursuant to a request for confidential treatment under Rule
24b-2 of the General Rules and Regulations under the Securities Exchange Act of 1934. Omitted information, marked “[*]” in this Exhibit, has been filed separately with the Securities and Exchange Commission together with such request for
confidential treatment. 
  

	20.	GENERAL 

  

	20.1	Independent Parties. The relationship of the parties is that of independent contractors dealing at arm’s length. Except as otherwise expressly stated in this Agreement, nothing in this
Agreement or any Contract shall constitute the parties as partners, joint venturers or co-owners, constitute either party as the agent, employee or representative of the other, or empower either party to act for, bind or otherwise create or assume
any obligation on behalf of the other party. 

  

	20.2	Further Assurances. The parties shall do and execute all such further acts and things as are reasonably required to give full effect to the rights given and the transactions contemplated by this
Agreement or any Contract. 

  

	20.3	Survival. Provisions of this Agreement which either are expressed to survive expiry or termination of this Agreement or from their nature or context it is contemplated that they are to survive such
expiry or termination, shall remain in full force and effect notwithstanding such expiry or termination. 

  

	20.4	Costs. Except as otherwise expressly provided in this Agreement or any Contract or otherwise agreed in writing between the parties, each party shall be responsible for its own costs incurred in
performing its obligations under this Agreement or any Contract. 

  

	20.5	Entire Agreement. This Agreement and its Schedules constitute the complete and entire statement of all terms, conditions and representations of the agreement between Supplier and Company with
respect to its subject matter and supersedes all prior writings or understandings. 

 IN WITNESS WHEREOF, Supplier and Company cause
this Agreement to be executed by their duly authorized representatives identified below. 
  

									
	 Nanophase Technologies Corporation

(“Supplier”)
	 		 	 Ester Solutions Company

(“Company”)

					
	By:	 	 /s/ Jess Jankowski
	 		 	By:	 	 /s/ Jeffrey T. Beckman

	Name:	 	Jess Jankowski	 		 	Name:	 	Jeffrey T. Beckman
	Title:	 	President & Chief Executive Officer	 		 	Title:	 	Assistant Secretary

 Portions of this Exhibit have been redacted pursuant to a request for confidential treatment under Rule
24b-2 of the General Rules and Regulations under the Securities Exchange Act of 1934. Omitted information, marked “[*]” in this Exhibit, has been filed separately with the Securities and Exchange Commission together with such request for
confidential treatment. 
  

 SCHEDULE 1 

Products 
 HallBrite EZ-FLO TDX 

INCI: Butyloctyl Salicylate (and) Titanium Dioxide (and) Triceteareth-4 Phosphate (and) Dimethiconol/Caprylylsilsesquioxane/Silicate Crosspolymer 

HallBrite EZ-FLO TDX PLUS 
 INCI: Butyloctyl Salicylate
(and) Titanium Dioxide (and) C12-15 Alkyl Benzoate (and) Ethylhexyl Methoxycrylene (and) Triceteareth-4 Phosphate (and) Dimethiconol/Caprylylsilsesquioxane/Silicate CrosspolymerEX-10.1

 Exhibit 10.1 
  

 
 SALE AGREEMENT 

dated as of March 31, 2016 

and effective as of the initial Lease Closing Date 

among 
 THE SELLERS
IDENTIFIED ON THE SIGNATURE PAGES HERETO AS SELLERS, 
 as Sellers 

and 

[                    ], 

as Buyer 
  

 

 Table of Contents 

 

									
	 	  	Page	 
		
	 ARTICLE I DEFINITIONS AND RELATED MATTERS
	  	 	1	  
				
		 	SECTION 1.1	  	 Defined Terms
	  	 	1	  
		 	SECTION 1.2	  	 Other Interpretive Matters
	  	 	3	  
		
	 ARTICLE II AGREEMENT TO PURCHASE AND SELL
	  	 	3	  
				
		 	SECTION 2.1	  	 Purchase and Sale
	  	 	3	  
		 	SECTION 2.2	  	 Purchase Price
	  	 	3	  
		 	SECTION 2.3	  	 No Recourse
	  	 	3	  
		 	SECTION 2.4	  	 Intention of the Parties
	  	 	3	  
		
	ARTICLE III REPRESENTATIONS AND WARRANTIES	  	 	4	  
				
		 	SECTION 3.1	  	 Mutual Representations and Warranties
	  	 	4	  
		 	SECTION 3.2	  	 Additional Representations and Warranties of the Sellers
	  	 	5	  
		 	SECTION 3.3	  	 Additional Representations and Warranties of the Buyer
	  	 	7	  
		
	ARTICLE IV GENERAL COVENANTS	  	 	7	  
				
		 	SECTION 4.1	  	 Mutual Covenants
	  	 	7	  
		 	SECTION 4.2	  	 Additional Covenants of the Sellers
	  	 	8	  
		
	ARTICLE V INDEMNIFICATION	  	 	9	  
				
		 	SECTION 5.1	  	 Indemnities by the Sellers
	  	 	9	  
		
	ARTICLE VI MISCELLANEOUS	  	 	10	  
				
		 	SECTION 6.1	  	 Amendments, etc.
	  	 	10	  
		 	SECTION 6.2	  	 No Waiver; Remedies
	  	 	11	  
		 	SECTION 6.3	  	 Notices, Etc.
	  	 	11	  
		 	SECTION 6.4	  	 Binding Effect; Assignment
	  	 	11	  
		 	SECTION 6.5	  	 Third Party Rights
	  	 	11	  
		 	SECTION 6.6	  	 Survival
	  	 	11	  
		 	SECTION 6.7	  	 Costs and Expenses
	  	 	12	  
		 	SECTION 6.8	  	 Execution in Counterparts; Integration
	  	 	12	  
		 	SECTION 6.9	  	 Governing Law
	  	 	12	  
		 	SECTION 6.10	  	 Waiver of Jury Trial
	  	 	12	  
		 	SECTION 6.11	  	 Consent to Jurisdiction; Waiver of Immunities
	  	 	12	  
		 	SECTION 6.12	  	 No Proceedings
	  	 	13	  
		 	SECTION 6.13	  	 Severability
	  	 	13	  
			
	SCHEDULE I	  	 Equipment
	  			
	SCHEDULE II	  	 Purchase Price
	  			
	SCHEDULE III	  	 UCC Information
	  			
	ANNEX I	  	 Form of Unsecured Note
	  			

 SALE AGREEMENT 

This SALE AGREEMENT, dated as of March 31, 2016 and effective as of the initial Lease Closing Date (this “Agreement”), is among
THE PERSONS IDENTIFIED ON THE SIGNATURE PAGES HERETO AS SELLERS, as sellers (collectively, the “Sellers” and, each, a “Seller”), and
[                    ], as buyer (the “Buyer”). 

W I T N E S S E T H: 

WHEREAS, each Seller wishes to sell and the Buyer wishes to purchase the equipment identified on Schedule I hereto related to such
Seller, together with any replacement parts and repairs for any such equipment that continues to be serialized on the same serial record that is maintained and continued as exists as of the date hereof (collectively with respect to all of the
Sellers, the “Equipment”), pursuant to and in accordance with the terms hereof; 
 WHEREAS, the Buyer has agreed to pay to each
Seller the related Purchase Price in accordance with the terms hereof; 
 WHEREAS, pursuant to that certain Master Lease Agreement, dated as
of the date hereof (as amended, supplemented or otherwise modified from time to time, the “Master Lease Agreement”), by and among the Sellers, the other lessees party thereto, the Buyer and the other lessors party thereto, as supplemented
by each Equipment Lease Schedule (the Master Lease Agreement together with each Equipment Lease Schedule, collectively, the “Equipment Leases” and, each, an “Equipment Lease”), Buyer will on the initial Lease Closing Date
commence leasing the applicable Equipment to the relevant Seller; 
 NOW, THEREFORE, in consideration of the premises set forth above, the
terms and conditions contained herein and other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 

ARTICLE I 
 DEFINITIONS
AND RELATED MATTERS 
 SECTION 1.1 Defined Terms. In this Agreement, capitalized terms not otherwise defined herein have the
meaning provided for such terms in Appendix A to the Master Lease Agreement. In addition, the following terms used herein have the meanings indicated below: 

“Affiliate” means, with respect to a specified Person, another Person that directly, or indirectly through one or more
intermediaries, Controls or is Controlled by or is under common Control with the Person specified. 
 “Agreement” shall have the
meaning provided in the preamble of this Agreement. 
 “Applicable Parties” means each of (i) the Senior Administrative
Agent, if the Senior Loan is outstanding, (ii) the Tranche A Administrative Agent, if the Tranche A Loan is outstanding, (iii) the Tranche B Administrative Agent, if the Tranche B Loan is outstanding and (iv) the Tranche C
Administrative Agent, if the Tranche C Loan is outstanding. 

  
 1 

 “Buyer” shall have the meaning provided in the preamble of this Agreement. 

“Collections” means all cash collections and other proceeds in respect of the Equipment, including, without limitation or
duplication, any (i) Rental Payments (including interest payments and principal payments as part of rental payments), guaranty payments, prepayments, amendment fees, prepayment fees and waiver fees payable with respect to the Master Lease
Agreement, (ii) any payments made in respect of the Guaranty, (iii) sale proceeds and (iv) other amounts received in respect thereof. 

“Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies
of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative thereto. 

“Eligible Equipment” shall have the meaning provided in the Senior Credit Agreement. 

“Equipment” shall have the meaning provided in the preamble of this Agreement. 

“Equipment Lease” shall have the meaning provided in the preamble of this Agreement. 

“Indemnified Amount” shall have the meaning provided in Section 5.1(a) of this Agreement. 

“Indemnified Party” shall have the meaning provided in Section 5.1(a) of this Agreement. 

“Investment Company Act” means the Investment Company Act of 1940, as amended. 

“Master Lease Agreement” shall have the meaning provided in the preamble of this Agreement. 

“Patriot Act” shall mean the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)). 

“Purchase Price” means, with respect to each Seller, the amount set forth on Schedule II hereto. 

“Seller” shall have the meaning provided in the preamble of this Agreement. 

“Servicer” means Portfolio Financial Servicing Company. 

“Servicing Agreement” means the servicing agreement, dated as of the date hereof, among the clients party thereto and the Servicer.

 “Servicing Report” shall have the meaning provided in the Servicing Agreement. 

“Tax Matters Agreement” shall mean that certain Tax Matters Agreement, dated as of March 31, 2016 and effective as of the
initial Lease Closing Date, among 48 Wall St. Holdco Services, Inc., Sprint Corporation, the lenders party thereto and the borrowers party thereto. 

  
 2 

 “Termination Date” means the date on which the Master Lease Agreement is terminated.

 “Transaction Documents” means, collectively, the Loan Documents, this Agreement, the Purchase Agreement, the Master Lease
Agreement, those certain unsecured promissory notes dated as of March 31, 2016 and effective as of the initial Lease Closing Date, made by a Lessor in favor of a Lessee and any amendment, waiver, supplement or other modification to any of the
foregoing. 
 “Unsecured Note” shall have the meaning provided in Section 2.2(b) of this Agreement. 

SECTION 1.2 Other Interpretive Matters. The interpretation of this Agreement, unless otherwise specified, is subject to
Section 1.2 of the Master Lease Agreement. 
 ARTICLE II 

AGREEMENT TO PURCHASE AND SELL 

SECTION 2.1 Purchase and Sale. Upon the terms and subject to the conditions set forth in this Agreement, on the initial Lease
Closing Date, each Seller, severally and for itself, hereby sells to the Buyer, and, in consideration of the payment of the related Purchase Price, the Buyer hereby purchases from such Seller, all of such Seller’s right, title and interest in,
to and under the Equipment related to such Seller as set forth on Schedule I hereto. 
 SECTION 2.2 Purchase Price. With
respect to each Seller, the Purchase Price for the Equipment sold by such Seller to the Buyer on the initial Lease Closing Date shall be paid by the Buyer to such Seller as follows: 

(a) on the initial Lease Closing Date, the Buyer shall pay to such Seller a portion of the related Purchase Price in cash as set forth on
Schedule II hereto; and 
 (b) the remaining portion of the related Purchase Price shall be paid by the Buyer by the issuance of an
unsecured subordinated promissory note in the form of Annex I to this Agreement (each, an “Unsecured Note”). The Buyer hereby agrees that if it intends to issue an Unsecured Note that has any changes from the form attached hereto as
Annex I to this Agreement other than the insertions of the applicable date, the principal amount and the identity and address of the related holder, the Buyer shall obtain prior written consent of the Applicable Parties to such change prior
to issuing such Unsecured Note. 
 SECTION 2.3 No Recourse. Except as specifically provided in this Agreement, the sale,
transfer and assignment of the Equipment pursuant to this Agreement is irrevocable and without recourse to any Seller, except as expressly stated herein. 

SECTION 2.4 Intention of the Parties. 

(a) All parties hereto intend for the transaction contemplated by this Agreement to be an absolute sale. 

  
 3 

 (b) In the event, however, that notwithstanding the intent expressed in Section 2.4(a)
above, any sale, transfer and assignment contemplated by this Agreement is determined not to be a sale of the related Equipment by any Seller to Buyer, each Seller does hereby grant to the related Buyer a first priority perfected security interest
in all of such Seller’s now or hereafter existing right, title and interest in, to and under the related Equipment and all income and proceeds thereof, and agrees that this Agreement shall constitute a security agreement under applicable Law.
Each Seller hereby authorizes the Buyer, or its respective designees to file one or more (i) UCC financing statements naming the applicable Seller as “debtor” and the Buyer as “secured party” in each
jurisdiction that the Buyer deems necessary in order to protect its security interests in such Equipment, (ii) continuation statements, and (iii) amendments thereto and assignments thereof, relative to all or any of the Equipment now
existing or hereafter arising in the name of such Seller. For U.S. federal, state and local income tax purposes the Sellers and Buyer shall treat this Agreement and the transactions described herein in the manner provided in the Tax Matters
Agreement. 
 ARTICLE III 

REPRESENTATIONS AND WARRANTIES 

SECTION 3.1 Mutual Representations and Warranties. Each Seller represents and warrants to the Buyer, and the Buyer represents and
warrants to the Sellers, as of the date hereof and the initial Lease Closing Date, as follows: 
 (a) Organization and Good Standing.
It has been duly organized or incorporated in, and is validly existing as a corporation, exempted company, partnership or limited liability company, as applicable in good standing under the Laws of its jurisdiction of organization or incorporation,
with power and authority to own its properties and to conduct its business as such properties are presently owned and such business is presently conducted and will be conducted, except to the extent that such failure could not, individually or in
the aggregate, reasonably be expected to have a Material Adverse Effect. 
 (b) Due Qualification. It is duly qualified to do
business as a foreign organization in good standing, if applicable, and has obtained all necessary qualifications, licenses and approvals, in all jurisdictions in which its ownership or lease of property or the conduct of its business (including its
obligations under this Agreement) requires such qualifications, licenses or approvals, except where the failure to be in good standing or to hold any such qualifications, licenses and approvals could not, individually or in the aggregate, reasonably
be expected to have a Material Adverse Effect. 
 (c) Power and Authority; Due Authorization. It (i) has all necessary power and
authority to (A) execute and deliver this Agreement and (B) carry out the terms of and perform its obligations under this Agreement, (ii) has duly authorized by all necessary corporate, partnership or limited liability company action,
as applicable, the execution, delivery and performance of this Agreement, and (iii) has duly authorized, executed and delivered this Agreement. 

  
 4 

 (d) Binding Obligations. This Agreement constitutes a legal, valid and binding obligation
of such party, enforceable against such party in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of
equity, regardless of whether considered in a proceeding in equity or at law. 
 (e) No Violation. The consummation of the
transactions contemplated by this Agreement and the due execution, delivery and performance by it of the terms hereof will not (i) violate or result in a default under, (A) its articles or certificate of incorporation, memorandum and
articles of association, by-laws, certificate of formation, limited liability company agreement, partnership agreement or other organizational documents, as applicable or (B) any material indenture, agreement or instrument binding on it,
(ii) result in the creation or imposition of any Lien upon any of its properties pursuant to the terms of any such indenture, agreement or instrument, except for any Lien that arises under the Transaction Documents, or (iii) violate in any
material respect any Law applicable to it or any of its properties. 
 (f) Bulk Sales Act. No transaction contemplated hereby
requires compliance by it with any bulk sales act or similar Law. 
 (g) No Proceedings. There are no actions, suits or proceedings
by or before any arbitrator or Governmental Authority pending against or, to its Knowledge, threatened in writing against it as to which there is a reasonable possibility of an adverse determination and that, if adversely determined, could
reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect or seeking to prevent the consummation of the purposes of this Agreement or the transactions contemplated hereby. 

(h) Licenses and Approvals. No license, authorization or approval or other action by, and no notice to or filing with, any Governmental
Authority is required for its due execution, delivery and performance of this Agreement or the transactions contemplated hereby, in each case, that has not been made or obtained other than registrations and notifications that are permitted to be
obtained after the date hereof, which it shall obtain or cause to be obtained within the statutorily prescribed timeframe. 

SECTION 3.2 Additional Representations and Warranties of the Sellers. Each Seller represents and warrants to the Buyer as of the
date hereof and the initial Lease Closing Date, as follows: 
 (a) Valid Sale. This Agreement constitutes an absolute and irrevocable
sale of the related Equipment to the Buyer. 
 (b) Use of Proceeds. The use of all funds obtained by it under this Agreement will not
conflict with or contravene any of Regulations T, U and X promulgated by the Board of Governors of the Federal Reserve System. 
 (c)
Quality of Title. Prior to its sale to the Buyer hereunder, the related Equipment is owned by it free and clear of any Liens (other than Permitted Equipment Liens); when the Buyer purchases such Equipment, the Buyer shall have acquired it for
fair consideration and reasonably equivalent value, free and clear of any Liens (other than Permitted 

  
 5 

 
Equipment Liens) and no valid effective financing statement or other instrument similar in effect covering any such Equipment is on file in any recording office, except such as may be filed in
connection with any Permitted Equipment Liens created under the Loan Documents. 
 (d) UCC Details. Its true legal name as registered
in the sole jurisdiction in which it is organized and the jurisdiction of such organization are specified in Schedule III and its chief executive office is at the address specified in Schedule III (or at such other location, notified
to the Buyer, the Senior Security Agent, the Tranche A Security Agent, the Tranche B Security Agent and the Tranche C Security Agent). It has never had any, trade names, fictitious names, assumed names or “doing business as” names and is
“located” in the jurisdiction specified in Schedule III for purposes of Section 9-307 of the UCC. It is organized in only a single jurisdiction. 

(e) Investment Company Act. It is not an “investment company” as defined in, or subject to regulation under, the Investment
Company Act. 
 (f) Tax Returns and Payments. It has filed all federal income tax returns and all other material tax returns that are
required to be filed by it and has paid all taxes due pursuant to such returns or pursuant to any assessment received by it, except (i) for any such taxes or assessments, if any, that are being appropriately contested in good faith by
appropriate proceedings and with respect to which adequate reserves in conformity with GAAP have been provided or (ii) to the extent that the failure to do so could not reasonably be expected to result in a Material Adverse Effect. No tax lien
has been filed, and, to its Knowledge, no claim is being asserted, with respect to any such tax or assessment that could reasonably be expected to result in a Material Adverse Effect. 

(g) Software Licenses. The execution, delivery and performance of this Agreement do not infringe any licenses or other agreements for
the use of the software connected to the Equipment. 
 (h) [Reserved]. 

(i) [Reserved]. 
 (j)
Disclosure. None of the reports or other information contained in the Data Room taken together with any information contained in the public filings made by Sprint with the Securities and Exchange Commission pursuant to the Securities Exchange
Act of 1934, as amended, contains any material misstatement of fact or omits to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not materially misleading. 

(k) No Sanctions. None of it nor any of its directors or officers: (i) is a Restricted Party; (ii) has received written
notice of any claim, action, suit, proceeding or investigation against it with respect to Sanctions by any Sanctions Authority, (iii) directly or indirectly, is conducting any trade, business or other activities with or for the benefit of any
Sanctioned Person, or (iv) is or ever has been in breach of or subject to any claim, action, suit, proceeding or investigation with respect to Sanctions. 

  
 6 

 (l) Perfection. The security interests in the related Equipment granted by such Seller to
the Buyer hereunder in the event any sale, transfer and assignment contemplated by this Agreement is determined not to be a sale of the related Equipment by any Seller to Buyer constitute valid security interests in such Equipment, securing the
prompt and full payment and performance as and when due of any and all obligations of such Seller to Buyer under this Agreement, now existing or hereafter created. 

Upon the filing of the UCC financing statement, naming such Seller as “debtor”, naming the Buyer as “secured party” and
describing the related Equipment, in the filing office of the state of formation of such Seller, the security interests in such Equipment granted by such Seller to the Buyer will constitute a perfected security interest therein, prior to all other
Liens; and 
 Other than the security interest granted to the Buyer hereunder, it has not, other than the Permitted Equipment Liens,
pledged, assigned, sold, granted a security interest in or otherwise conveyed any of the related Equipment. Except in connection with Permitted Equipment Liens pursuant to the Loan Documents, it has not authorized the filing of or is aware of any
financing statements against it that include a description of collateral covering such Equipment other than any financing statement that has been terminated and/or fully and validly assigned to it on or prior to the date hereof. 

(m) Eligible Equipment. All Equipment transferred by such Seller hereunder is Eligible Equipment. 

SECTION 3.3 Additional Representations and Warranties of the Buyer. Buyer represents and warrants to the Sellers as of the date
hereof and the initial Lease Closing Date that it is not an “investment company” under (and as defined in) the Investment Company Act. 

ARTICLE IV 
 GENERAL
COVENANTS 
 SECTION 4.1 Mutual Covenants. At all times from the date hereof to the Termination Date, each Seller and the
Buyer shall: 
 (a) [Reserved]. 

(b) Preservation of Existence. Except as expressly permitted by Sections 4.2(f) or 4.2(g) with respect to the Sellers,
preserve and maintain its existence, rights, franchises and privileges in the jurisdiction of its organization, and qualify and remain qualified in good standing in each jurisdiction except where the failure to qualify or preserve and maintain such
existence, rights, franchises, privileges and qualification could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

(c) [Reserved]. 
 (d)
Books and Records. Maintain proper books of record and account in which full, true and correct entries are made of all dealings and transactions in relation to its business and activities will be made. 

  
 7 

 (e) Servicing Information. With respect to the Buyer, provide to the Servicer all data and
other information necessary to permit the Servicer to prepare and deliver each Servicing Report in accordance with and at the times required under the Servicing Agreement and to otherwise perform its obligations under the Servicing Agreement. 

(f) Notices. With respect to the Buyer, promptly (and, in any case, within five (5) business days after obtaining Knowledge
thereof) notify Sellers of the existence of any Default or Event of Default, in each case, as defined in each of the Senior Credit Agreement, the Tranche A Second Lien Loan Agreement, the Tranche B Third Lien Loan Agreement and the Tranche C Fourth
Lien Loan Agreement. 
 SECTION 4.2 Additional Covenants of the Sellers. At all times from the date hereof to the Termination
Date, each Seller shall: 
 (a) Evidence of Purchase. Maintain its accounting records to evidence that the related Equipment have
been irrevocably transferred to the Buyer in accordance with this Agreement. 
 (b) Location of Records. Keep its chief executive
office and principal place of business at the address of such Seller referred to in Schedule III or, upon thirty (30) days’ prior written notice to the Buyer, the Senior Security Agent, the Tranche A Security Agent, the Tranche B
Security Agent and the Tranche C Security Agent, at such other locations in jurisdictions where all action required under the Master Lease Agreement shall have been taken and completed. 

(c) Continuation Statements. Authorize and deliver and file or cause to be filed appropriate continuation statements not earlier than
six months and not later than one month prior to the fifth anniversary of the date of filing of the financing statements filed in connection with the initial Lease Closing Date or any other financing statement filed pursuant to this Agreement, in
each case naming such Seller as debtor, if the Termination Date shall not have occurred. 
 (d) Further Assurances. From time to
time, at its expense, promptly execute and deliver all further instruments and documents, and take all further action that the Buyer or any of its assignees or pledgees under the Transaction Documents may reasonably request in order to perfect,
protect or more fully evidence the purchases, sales and assignments and security interests hereunder, or to enable the Buyer or any such assignee or pledgees to exercise or enforce any of its respective rights with respect to the Equipment. Without
limiting the generality of the foregoing, each Seller will upon the request of the Buyer or any of its assignees under the Transaction Documents authorize and file such financing or continuation statements, or amendments thereto or assignments
thereof, and such other instruments or notices, as may be necessary or appropriate. 
 (e) Tax Matters. Pay and discharge, or cause
the payment and discharge of, all taxes of such Seller when due and payable, except (x) such as may be paid thereafter without penalty, (y) such as may be contested in good faith by appropriate proceeding and for which an adequate reserve
has been established and is maintained in accordance with GAAP or (iii) where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. 

  
 8 

 (f) Mergers, Sales, Etc. Not consolidate or merge with or into any other Person or sell,
lease or transfer all or substantially any portion of its property and assets, or agree to do any of the foregoing, except that (i) any Seller can merge with or consolidate into, or sell all or substantially all of its assets to another Seller,
(ii) any Seller can merge with or consolidate into, or sell all or substantially all of its assets to any Person that is a Subsidiary of Sprint, so long as such Person assumes all of the Seller’s obligations under this Agreement and the
Master Lease Agreement, (iii) any Person can merge into or consolidate with, or sell all or substantially all of its assets to any Seller, and (iv) any Seller can merge with or consolidate into, or sell all or substantially all of its
assets to any Person other than a Seller so long as (A) the Buyer and the Applicable Parties shall have received 30 days’ prior written notice thereof, (B) no Lease Event of Default or Lease Default has occurred and is continuing or
would result immediately after giving effect thereto, (C) the Buyer and the Applicable Parties shall have consented in writing thereto, if the resulting entity following such merger, consolidation or other restructuring is any Person other than
such Seller and (D) the Buyer and the Applicable Parties receive such additional certifications as the Buyer or the Applicable Parties, respectively, shall reasonably request. Within ten (10) Business Days thereof, the Seller shall provide
written notice to each of the Buyer, the Senior Security Agent, the Tranche A Security Agent, the Tranche B Security Agent and the Tranche C Security Agent of any such merger or consolidation. 

(g) Change in Organization, Etc. Not change its jurisdiction of organization or incorporation or its name, identity or corporate
organization structure or make any other change such that any financing statement filed or other action taken to perfect the Buyer’s interests hereunder would become seriously misleading or would otherwise be rendered ineffective unless such
Seller shall have given the Buyer and the Applicable Parties not less than 30 days’ prior written notice of such change and such Seller shall have taken all action necessary or desirable to continue to perfect the Buyer’s (or its
assignees’ or pledgees’) interests hereunder. 
 (h) Compliance with Laws and Agreements. Comply with all applicable Laws,
regulations, policies and orders of any Governmental Authority applicable to it, its property or its performance under this Agreement (including, without limitation, all applicable telecommunication, national security and FCC regulations, the U.S.
Foreign Corrupt Practices Act and international anti-money laundering laws applicable to it) except where the failure to do so could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

ARTICLE V 

INDEMNIFICATION 

SECTION 5.1 Indemnities by the Sellers. 

(a) General Indemnity. Without limiting any other rights which any such Person may have hereunder or under applicable Law, each Seller
agrees to indemnify and hold harmless the Buyer, and any of Buyer’s respective successors, assigns, creditors (including any 

  
 9 

 
agent for a group of creditors; provided that the obligation to indemnify the expenses of any such agent under this Section 5.1(a) shall be limited to the expenses of two agents for each
class of creditors) and pledgees and their respective employees, officers, directors and equityholders (each an “Indemnified Party”), forthwith on demand, from and against any and all damages, losses, claims, liabilities and related
costs and expenses, including reasonable and documented attorneys’ fees and disbursements (all of the foregoing being collectively referred to as “Indemnified Amounts”) awarded against or incurred by any of them arising out of,
relating to or in connection with this Agreement, any of the transactions contemplated thereby, or otherwise arising out of or relating to or resulting from the actions or inactions of such Seller, provided, however, notwithstanding anything to the
contrary in this Article V, excluding Indemnified Amounts solely to the extent (x) resulting from the gross negligence or willful misconduct on the part of such Indemnified Party as determined by a final non-appealable judgment by a
court of competent jurisdiction or (y) resulting from a claim brought by such Seller against an Indemnified Party for breach of such Indemnified Party’s obligations under any Loan Document as determined by a final non-appealable judgment
by a court of competent jurisdiction. Without limiting the foregoing, such Seller shall indemnify, subject to the express limitations set forth in this Section 5.1, and hold harmless each Indemnified Party for any and all Indemnified
Amounts arising out of, relating to or resulting from: 
 (i) the transfer by such Seller of any interest in the related Equipment; 

(ii) any representation or warranty made by such Seller under or in connection with this Agreement or any other information or report
delivered by or on behalf of such Seller pursuant hereto, which shall have been untrue, false or incorrect when made or deemed made; 

(iii) the lack of an enforceable ownership interest, or a first priority perfected security interest, in the related Equipment against all
Persons (including any bankruptcy trustee or similar Person); 
 (iv) any suit or claim related to the related Equipment (including any
products liability or Environmental Liability claim); 
 (v) failure by such Seller to comply with the “bulk sales” or analogous
laws of any jurisdiction; or 
 (vi) any loss arising, directly or indirectly, as a result of the imposition of sales or as a result of the
imposition of sales, use, transfer, goods and services, registration, stamp, recording, documentary, and similar taxes or the failure by such Seller to timely collect and remit to the appropriate authority any such taxes. 

ARTICLE VI 

MISCELLANEOUS 

SECTION 6.1 Amendments, etc. No amendment, modification, termination or waiver of any provision of this Agreement, and no consent
to any departure by the Buyer therefrom, shall in any event be effective unless the same shall be in writing and signed by each of the Buyer, the applicable Seller, and the Applicable Parties. 

  
 10 

 SECTION 6.2 No Waiver; Remedies. No failure on the part of any Party hereto to
exercise, and no delay in exercising, any right, power or remedy hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any right, power or remedy hereunder preclude any other or further exercise thereof or the
exercise of any other right, power or remedy. The rights and remedies herein provided are cumulative and not exclusive of any rights or remedies provided by Law. 

SECTION 6.3 Notices, Etc. The provisions of Section 11.3 of the Master Lease Agreement shall apply as if fully set forth
herein. 
 SECTION 6.4 Binding Effect; Assignment. The parties to this Agreement may not assign any rights under this Agreement,
except with the consent of the other parties to this Agreement; provided, that, the Buyer may pledge and collaterally assign its rights under this Agreement to the Senior Security Agent under the Senior Security Agreement, to the Tranche A Security
Agent under the Tranche A Security Agreement, to the Tranche B Security Agent under the Tranche B Security Agreement and to the Tranche C Security Agent under the Tranche C Security Agreement. Furthermore, the Buyer may assign all of its rights
under this Agreement to the purchaser identified in the Purchase Agreement or otherwise in accordance with this Agreement. 

SECTION 6.5 Third Party Rights. This Agreement shall, to the extent provided herein, inure to the benefit of the Buyer and
Buyer’s successors, assignees and pledgees. Each Party hereto acknowledges that Buyer’s rights under this Agreement may be assigned, and consents to such assignment and to the exercise of those rights directly by any such assignee. Each
Party hereto acknowledges that each of the Senior Administrative Agent (and any assignee thereof), the Tranche A Administrative Agent (and any assignee thereof), the Tranche B Administrative Agent (and any assignee thereof), the Tranche C
Administrative Agent (and any assignee thereof), the Senior Security Agent (and any assignee thereof) (for and on behalf of it and the other Credit Parties (as defined in the Senior Credit Agreement)), the Tranche A Security Agent (and any assignee
thereof) (for and on behalf of it and the other Credit Parties (as defined in the Tranche A Second Lien Loan Agreement)), the Tranche B Security Agent (and any assignee thereof) (for and on behalf of it and the other Credit Parties (as defined in
the Tranche B Third Lien Loan Agreement)) and the Tranche C Security Agent (for and on behalf of it and the other Credit Parties (as defined in the Tranche C Fourth Lien Loan Agreement)) shall be express third party beneficiaries of this Agreement,
with the right to enforce any provisions of this Agreement as if it were a direct party hereto. Each Seller hereby consents to the exercise of remedies by Buyer and Buyer’s successors, assignees, and pledgees upon the occurrence and during the
continuance of any Lease Event of Default. NO SELLER SHALL ASSIGN, DELEGATE, TRANSFER OR ENCUMBER ANY OF ITS RIGHTS OR OBLIGATIONS HEREUNDER. 

SECTION 6.6 Survival. The rights and remedies with respect to any breach of any representation and warranty made by any Seller or
the Buyer pursuant to Article III and the provisions of Sections 5.1, 6.4, 6.5, this Section 6.6, 6.8, 6.9, 6.10, 6.11, and 6.12 shall survive any termination of this
Agreement. 

  
 11 

 SECTION 6.7 Costs and Expenses. Each Party agrees to pay its own out-of-pocket costs
and expenses incurred in connection with the negotiation, preparation, execution and delivery of any amendment of or consent or waiver under this Agreement. 

SECTION 6.8 Execution in Counterparts; Integration. This Agreement may be executed in any number of counterparts and by the
different parties in separate counterparts, each of which when so executed shall be deemed to be an original and all of which when taken together shall constitute one and the same Agreement. Executed counterparts may be delivered electronically.
This Agreement, together with the other Transaction Documents, contains a final and complete integration of all prior expressions by the parties hereto with respect to the subject matter hereof and shall constitute the entire understanding among the
parties hereto with respect to the subject matter hereof, superseding all prior oral or written understandings. 
 SECTION 6.9
Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK (INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, BUT WITHOUT REGARD TO ANY OTHER CONFLICT OF LAWS PROVISIONS THEREOF. 

SECTION 6.10 Waiver of Jury Trial. EACH SELLER AND THE BUYER HEREBY EXPRESSLY WAIVES ANY RIGHT TO A TRIAL BY JURY IN ANY ACTION OR
PROCEEDING TO ENFORCE OR DEFEND ANY RIGHTS UNDER THIS AGREEMENT, ANY OTHER TRANSACTION DOCUMENT OR ANY AMENDMENT, INSTRUMENT OR DOCUMENT DELIVERED OR WHICH MAY IN THE FUTURE BE DELIVERED IN CONNECTION HEREWITH OR ARISING FROM ANY BANKING OR OTHER
RELATIONSHIP EXISTING IN CONNECTION WITH THIS AGREEMENT OR ANY OTHER TRANSACTION DOCUMENT AND AGREES THAT ANY SUCH ACTION OR PROCEEDING SHALL BE TRIED BEFORE A COURT AND NOT A JURY. 

SECTION 6.11 Consent to Jurisdiction; Waiver of Immunities. EACH SELLER AND THE BUYER HEREBY ACKNOWLEDGES AND AGREES THAT: 

(a) IT IRREVOCABLY (i) SUBMITS TO THE JURISDICTION, FIRST, OF ANY UNITED STATES FEDERAL COURT, AND SECOND, IF FEDERAL JURISDICTION IS NOT
AVAILABLE, OF ANY NEW YORK STATE COURT, IN EITHER CASE SITTING IN NEW YORK CITY, NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER TRANSACTION DOCUMENT, (ii) AGREES THAT ALL CLAIMS IN RESPECT OF SUCH
ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED ONLY IN SUCH NEW YORK STATE OR FEDERAL COURT AND NOT IN ANY OTHER COURT, AND (iii) WAIVES, TO THE FULLEST EXTENT IT MAY EFFECTIVELY DO SO, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE
OF SUCH ACTION OR PROCEEDING. 

  
 12 

 (b) TO THE EXTENT THAT IT HAS OR HEREAFTER MAY ACQUIRE ANY IMMUNITY FROM THE JURISDICTION OF ANY
COURT OR FROM ANY LEGAL PROCESS (WHETHER THROUGH SERVICE OR NOTICE, ATTACHMENT PRIOR TO JUDGMENT, ATTACHMENT IN AID TO EXECUTION, EXECUTION OR OTHERWISE) WITH RESPECT TO ITSELF OR ITS PROPERTY, IT HEREBY IRREVOCABLY WAIVES SUCH IMMUNITY IN RESPECT
OF ITS OBLIGATIONS UNDER OR IN CONNECTION WITH THIS AGREEMENT. 
 SECTION 6.12 No Proceedings. The provisions of
Section 11.10 of the Master Lease Agreement shall apply as if fully set forth herein. 
 SECTION 6.13 Severability. Any
provisions of this Agreement that are prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any
such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 

[SIGNATURE PAGES FOLLOW] 

  
 13 

 IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by their
respective duly authorized signatories, as of the date first above written. 
  

			
	SELLERS:
	
	[                    ]
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	[                    ]
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 14 

 
			
	[                    ]
	as Buyer
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 15

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00256-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00256-of-00352.parquet"}]]