Document:

Exhibit

SUBSCRIPTION AGREEMENT
 
This Subscription Agreement (this “Agreement”), dated August 23, 2017, is being delivered to Mark D. Burish (the “Subscriber”) in connection with his investment in the securities of Sonic Foundry, Inc. a Maryland corporation (“Sonic Foundry”).  Sonic Foundry is selling $1,000,000 of shares (individually, a “Share” and collectively, the “Shares”) of Series A Preferred Stock, $.01 par value, at a purchase price of $762.85 per Share (the “Per Share Purchase Price”). The terms of the Series A Preferred Stock are set forth in the corporate charter of Sonic Foundry, as filed with the Maryland Department of Assessments and Taxation.
     
This Subscription Agreement is on the terms and conditions set forth below.

WHEREAS, Sonic Foundry had previously formed a special committee of disinterested directors to discuss and negotiate the terms of an investment in preferred stock by Mark Burish; and

WHEREAS, the committee had met several times to discuss and negotiate such terms; and

WHEREAS, on or about May 25, 2017, such terms were finalized and the committee of disinterested directors unanimously approved such terms; and

WHEREAS, the terms of the Series A Preferred Stock issuance were also agreed to by Mark Burish; and

WHEREAS, pursuant to the terms of a Subscription Agreement entered into on May 30, 2017 (the “May Subscription Agreement”), which set forth the terms of the preferred stock investment, Sonic Foundry and Mark Burish agreed that Burish shall commit $ 750,000 for the Shares consisting of a first tranche of $500,000, and, at Sonic Foundry’s election, a second tranches of $250,000; and

WHEREAS, pursuant thereto: (i) on May 30, 2017, Mark Burish purchased $500,000 of Shares; (ii) on June 7, 2017, Andrew Burish, an assignee of Mark Burish pursuant to the May Subscription Agreement, purchased $200,000 of Shares, and (iii) on June 8, 2017, Mark Burish purchased $50,000 of Shares; and

WHEREAS, Mark Burish has agreed to purchase, and the Company has agreed to sell, an additional $1,000,000 of Shares on the terms and conditions set forth below.

NOW, THEREFORE, the undersigned agrees with Sonic Foundry as follows:

1.           SUBSCRIPTION AND PURCHASE PRICE
 
(a)           Subscription.  Subject to the conditions set forth in Section 2 hereof, the Subscriber hereby subscribes for and agrees to purchase that number of Shares determined by dividing $1,000,000 (the “Aggregate Purchase Price”) by the Per Share Purchase Price set forth on the first page of this Agreement, on the terms and conditions described herein.
 
(b)           Purchase of First Tranche of Shares.  The Subscriber understands and acknowledges that the purchase price to be remitted to Sonic Foundry in exchange for the issuance of the first tranche of Shares shall be $500,000 (the “Aggregate First Tranche Purchase Price”) for the number of Shares determined by dividing $500,000 by the Per Share Purchase Price. The Subscriber’s delivery of this Agreement to Sonic Foundry shall be accompanied by payment of $500,000, payable in United States Dollars, by wire transfer of immediately available funds delivered to Sonic Foundry.  The Subscriber understands and agrees that, subject to Section 2 and applicable laws, by executing this Agreement, it is entering into a binding agreement to purchase a total of $1,000,000 of Shares.

(c)           Purchase of Second Tranche of Shares.  The Subscriber understands and acknowledges that, upon notice given to Subscriber by Sonic Foundry at any time prior to August 23, 2018, the Subscriber shall, within three business days of such notice, remit to Sonic Foundry the amount of $500,000 (the “Second Tranche Purchase Price”) in exchange for the issuance of the second tranche of Shares. The number of Shares to be issued in exchange for Second Tranche Purchase Price shall be determined by dividing $500,000 by the Per Share Purchase Price.

(d)     Assignment of Subscription. The subscriber may assign his agreement to purchase all or a portion of the $1,000,000 Shares hereunder to one or more third parties, subject to the consent of Sonic Foundry, which shall not be unreasonably withheld.  Subscriber shall not be relieved from his obligations hereunder until such third part(ies) close on any such purchase of Shares

  2.           ACCEPTANCE AND CLOSING PROCEDURES
 
(a)           Acceptance. Subject to full, faithful and punctual performance and discharge by Sonic Foundry of all of its duties, obligations and responsibilities as set forth in this Agreement, the Subscriber shall be legally bound to purchase the Shares pursuant to the terms and conditions set forth in this Agreement.  
 
(b)           Closing.  The closing of the purchase and sale of the First Tranche of Shares hereunder (the “Initial Closing”) shall take place upon execution of this Agreement. The closing of the purchase and sale of the second tranche of Shares hereunder (the “Subsequent Closing”) shall take place as soon as practicable after Sonic Foundry’s receipt of the Second Tranche Purchase Price. The Shares purchased by the Subscriber in each closing will be delivered promptly at the Initial Closing and at the Subsequent Closing.

(c)           Extraordinary Events Regarding Common Stock.  In the event that, after the date of this Agreement, Sonic Foundry shall (a) issue additional shares of Common Stock as a dividend or other distribution on outstanding Common Stock, (b) subdivide its outstanding shares of Common Stock, or (c) combine its outstanding shares of the Common Stock into a smaller number of shares of Common Stock, then, in each such event, the Per Purchase Price shall, simultaneously with the happening of such event, be adjusted by multiplying the then Purchase Price by a fraction, the numerator of which shall be the number of shares of Common Stock outstanding immediately prior to such event and the denominator of which shall be the number of shares of Common Stock outstanding immediately after such event, and the product so obtained shall thereafter be the Per Share Purchase Price then in effect. The Per Share Purchase Price, as so adjusted, shall be readjusted in the same manner upon the happening of any successive event or events described herein. The number of Shares that the Subscriber shall thereafter be entitled to receive shall be adjusted to a number determined by multiplying the number of shares of Common Stock that would otherwise (but for the provisions of this Section) be issuable on such exercise by a fraction of which (a) the numerator is the Per Share Purchase Price that would otherwise (but for the provisions of this Section) be in effect, and (b) the denominator is the Per Share Purchase Price then in effect.
 

3.           THE SUBSCRIBER’S REPRESENTATIONS, WARRANTIES AND COVENANTS
 
The Subscriber, hereby acknowledges, agrees with and represents, warrants and covenants to Sonic Foundry, as follows:
 
(a)           The Subscriber has full power and authority to enter into this Agreement, the execution and delivery of which has been duly authorized, if applicable, and this Agreement constitutes a valid and legally binding obligation of the Subscriber, except as may be limited by bankruptcy, reorganization, insolvency, moratorium and similar laws of general application relating to or affecting the enforcement of rights of creditors, and except as enforceability of the obligations hereunder are subject to general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or law).
 
(b)          The Subscriber represents and warrants to Sonic Foundry and its affiliates as follow            
(i)           The Subscriber is acquiring the Shares solely for the Subscriber’s own     beneficial account, for investment purposes, and not with a view towards, or resale in     connection with, any distribution of the Shares.
(ii)           The Subscriber (together with his Advisors, if any) has received all documents     requested by the Subscriber, if any, and has carefully reviewed them and understands the information contained therein, prior to the execution of this Agreement.

(c)     The Subscriber understands that the Shares have not been registered under the Securities Act of 1933 (the “Securities Act”), the securities laws of any state or the securities laws of any other jurisdiction, nor is such registration contemplated.
    
(d)     The Subscriber (i) will not transfer, deliver or assign the Shares, or any interest therein, except   in accordance with state and federal securities laws and (ii) is acquiring the Shares to be acquired hereunder for the Subscriber’s own account for investment purposes only and not with a view to assignment, resale or distribution.  The Subscriber will not transfer the Shares unless such Shares are registered under the Securities Act and applicable state securities laws or the transfer is exempt therefrom. The Subscriber understands that Sonic Foundry is making no representation as to the availability of Rule 144 under the Securities Act or any other exemption from registration.

(e)           The Subscriber has carefully considered the potential risks relating to Sonic Foundry and a purchase of the Shares, and fully understands that the Shares are a speculative investment that involve a high degree of risk of loss of the Subscriber’s entire investment.

(f)           No oral or written representations or warranties have been made, or information furnished, to the Subscriber or his Advisors, if any, by Sonic Foundry or any of its officers, employees, agents, sub-agents, affiliates, advisors or subsidiaries in connection with the purchase of the Shares hereby, other than any representations of Sonic Foundry contained herein, and in subscribing for the Shares the Subscriber is not relying upon any representations other than those contained herein.
 
(g)           The Subscriber has taken no action that would give rise to any claim by any person for brokerage commissions, finders’ fees or the like relating to this Agreement or the transactions contemplated hereby.
 
 
 4.           SONIC FOUNDRY’S REPRESENTATIONS, WARRANTIES AND COVENANTS
 
Sonic Foundry hereby acknowledges, agrees with and represents, warrants and covenants to the Subscriber, as follows:
 
(a) Organization and Qualification.  Sonic Foundry is a corporation duly organized, validly existing and in good standing under the laws of its state of incorporation.  All actions on the part of Sonic Foundry and its officers and directors necessary for the authorization, execution, delivery and performance of this Agreement, the consummation of the transactions contemplated hereby, and the performance of all of Sonic Foundry's obligations under this Agreement, have been taken or will be taken prior to the Closing.  This Agreement has been duly executed and delivered by Sonic Foundry, and this Agreement is a legal, valid and binding obligation of Sonic Foundry, enforceable against Sonic Foundry in accordance with its terms, except as may be limited by bankruptcy, reorganization, insolvency, moratorium and similar laws of general application relating to or affecting the enforcement of rights of creditors, and except as enforceability of the obligations hereunder are subject to general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or law).
 
(b)           Issuance of Shares.  The Shares to be issued to the Subscriber pursuant to this Agreement, when issued and delivered in accordance with the terms of this Agreement, will be duly and validly issued and will be fully paid and non-assessable.

        
 5.           MISCELLANEOUS PROVISIONS
 
(a)           All parties hereto have been represented by counsel, and no inference shall be drawn in favor of or against any party by virtue of the fact that such party’s counsel was or was not the principal draftsman of this Agreement.
 
(b)           Each of the parties hereto shall be responsible to pay the costs and expenses of its own legal counsel in connection with the preparation and review of this Agreement and related documentation.
 
(c)           Neither this Agreement, nor any provisions hereof, shall be waived, modified, discharged or terminated except by an instrument in writing signed by the party against whom any waiver, modification, discharge or termination is sought.
 
(d)           The representations, warranties and agreement of the Subscriber and Sonic Foundry made in this Agreement shall survive the execution and delivery of this Agreement and the delivery of the Securities.
 
(e)           Any party may send any notice, request, demand, claim or other communication hereunder to the Subscriber at the address set forth on the signature page of this Agreement or to Sonic Foundry at its primary office (including personal delivery, expedited courier, messenger service, fax, ordinary mail or electronic mail), but no such notice, request, demand, claim or other communication will be deemed to have been duly given unless and until it actually is received by the intended recipient. Any party may change the address to which notices, requests, demands, claims and other communications hereunder are to be delivered by giving the other parties written notice in the manner herein set forth.
 
(f)           Except as otherwise provided herein, this Agreement shall be binding upon, and inure to the benefit of, the parties to this Agreement and their heirs, executors, administrators, successors, legal representatives and assigns.  This Agreement sets forth the entire agreement and understanding between the parties as to the subject matter hereof and merges and supersedes all prior discussions, agreements and understandings of any and every nature among them.
 
(g)           This Agreement is not transferable or assignable by the Subscriber. 

(i)           Except as otherwise provided herein, this Agreement shall not be changed, modified or amended except in writing signed by both Sonic Foundry and the Subscriber.
 
(j)           This Agreement shall be governed by and construed in accordance with the laws of the State of Wisconsin, without giving effect to conflicts of law principles.
 
(k)           Sonic Foundry and the Subscriber hereby agree that any dispute that may arise between them arising out of or in connection with this Agreement shall be adjudicated before a court located in the City of Madison, Wisconsin and they hereby submit to the exclusive jurisdiction of the federal and state courts of the State of Wisconsin located in the City of Madison,  with respect to any action or legal proceeding commenced by any party, and irrevocably waive any objection they now or hereafter may have respecting the venue of any such action or proceeding brought in such a court or respecting the fact that such court is an inconvenient forum, relating to or arising out of this Agreement or any acts or omissions relating to the sale of the securities hereunder, and consent to the service of process in any such action or legal proceeding by means of registered or certified mail, return receipt requested, postage prepaid, in care of the address set forth herein or such other address as either party shall furnish in writing to the other.
 
(l)           WAIVER OF JURY TRIAL.  IN ANY ACTION, SUIT, OR PROCEEDING IN ANY JURISDICTION BROUGHT BY ANY PARTY AGAINST ANY OTHER PARTY, THE PARTIES EACH KNOWINGLY AND INTENTIONALLY, TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY ABSOLUTELY, UNCONDITIONALLY, IRREVOCABLY AND EXPRESSLY WAIVES FOREVER TRIAL BY JURY.
 
(m)           This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
 
[Signature Page Follows]

IN WITNESS WHEREOF, the Subscriber has executed this Agreement on the 23rd day of August, 2017.
 

/s/ Mark D. Burish_________________________
Mark D. Burish

ACCEPTED this 23rd day of August, 2017, on behalf of Sonic Foundry, Inc.

By: /s/ Gary Weis______________________________
Name: Gary Weis
Title: CEO

 
 
 

 

 

 

 

 

 

 

 

 

 

 

 

 [SIGNATURE PAGE FOR SUBSCRIPTION AGREEMENT]Exhibit 4.1

 

HD SUPPLY, INC.

as Issuer

 

and

 

the Subsidiary Guarantors from time to time party to the Indenture

 

and

 

WELLS FARGO BANK, NATIONAL ASSOCIATION

as Trustee

 

 

SECOND SUPPLEMENTAL INDENTURE

 

DATED AS OF AUGUST 25, 2017

 

 

 

SECOND SUPPLEMENTAL INDENTURE, dated as of August 25, 2017 (this “Supplemental Indenture”), among HD Supply, Inc. (the “Company”), as issuer, the Subsidiary Guarantors signatory hereto (the “Subsidiary Guarantors”), and Wells Fargo Bank, National Association, as Trustee under the Indenture referred to below.

 

W I T N E S S E T H:

 

WHEREAS, the Company, the Subsidiary Guarantors and the Trustee are party to an Indenture, dated as of April 11, 2016 (the Base Indenture”), as amended and supplemented by the First Supplemental Indenture, dated as of April 11, 2016 (the “First Supplemental Indenture” and, together with the Base Indenture, the “Indenture”), relating to the issuance from time to time by the Company of Notes in series;

 

WHEREAS, the Company and the Trustee have duly executed and delivered the First Supplemental Indenture, pursuant to which $1,000,000,000 aggregate principal amount of 5.75% Senior Notes due 2024 (the “Notes”) were issued and are outstanding on the date hereof;

 

WHEREAS, Section 902 of the Base Indenture provides, among other things, that the Indenture may be amended or supplemented by a supplemental indenture with the written consent of the Holders of not less than a majority in principal amount of the outstanding Notes to make certain amendments thereto;

 

WHEREAS, the Company has solicited, and has received, consents to amend various provisions of the Indenture as set forth herein, and upon the terms and subject to the conditions set forth in the Consent Solicitation Statement, dated August 17, 2017 (as amended by Supplement No. 1 to the Consent Solicitation Statement, dated August 22, 2017), from Holders representing at least a majority in aggregate principal amount of the outstanding Notes to the amendments set forth herein;

 

WHEREAS, the Company has duly authorized the execution and delivery to the Trustee of this Supplemental Indenture to amend the Indenture; and

 

WHEREAS, all conditions and requirements necessary to make this Supplemental Indenture a valid and binding instrument in accordance with its terms have been done and performed, and the execution and delivery hereof have been in all respects duly authorized.

 

NOW, THEREFORE, in consideration of the premises, the covenants and other agreements contained herein and other good and valuable consideration, the receipt of which is hereby acknowledged, the Company, the Subsidiary Guarantors and the Trustee mutually covenant and agree as follows:

 

ARTICLE ONE

AMENDMENTS TO THE INDENTURE

 

Section 101.  Definitions.  Section 101 of the Indenture is hereby amended by:

 

(a) modifying subsection (b) of the definition of “Consolidated EBITDA” by adding the bold and underlined text and removing the bold and striked through text set forth below:

 

“(b) the amount of net cost savings projected by the Company in good faith to be realized as a result of actions taken or to be taken in connection with a purchase of assets from, or a sale of assets to, a third party (excluding the Waterworks Sale) (calculated on a pro forma basis as though such cost savings had been realized on the first day of such period), net of the amount of actual benefits realized during such period from such actions; provided that (x) such cost savings are reasonably identifiable and factually supportable and (y) such net cost savings are reasonably expected to be realized within 18 months of the date of calculation of Consolidated EBITDA as evidenced by an Officer’s Certificate prepared as of the date for which Consolidated EBITDA is being calculated (which adjustments may be incremental to (but not duplicative of) pro forma adjustments made pursuant to the proviso to the definition of “Consolidated Coverage Ratio,” or “Consolidated Secured Leverage Ratio” or “Consolidated Leverage Ratio”), plus”;

 

(b) modifying subsection (a) of the definition of “Fixed GAAP Terms” by adding the bold and underlined text set forth below:

 

“(a) the definitions of the terms “Borrowing Base,” “Capitalized Lease Obligation,” “Consolidated Coverage Ratio,” “Consolidated EBITDA,” “Consolidated Interest Expense,” “Consolidated Net Income,” “Consolidated Secured Indebtedness,” “Consolidated Secured Leverage Ratio,” “Consolidated Leverage Ratio,” “Consolidated Tangible Assets,” “Consolidated Total Indebtedness,” “Consolidation,” “Inventory” or “Receivables,””;

 

 

(c) deleting the period at the end of the definition of “Net Available Cash” and replacing it with the following:

 

“; provided, however, that the Net Available Cash received by the Company in connection with the Waterworks Sale (other than the proceeds to be applied to redeem the Company’s 2021 Notes) shall be deemed to be zero.”; and

 

(d) adding the following definitions:

 

“‘2021 Notes’ means the Company’s 5.25% Senior Secured First Priority Notes due 2021.”

 

“‘Consolidated Leverage Ratio’ means, as of any date of determination, the ratio of (i) Consolidated Total Indebtedness as at such date (after giving effect to any Incurrence or Discharge of Indebtedness on such date) to (ii) the aggregate amount of Consolidated EBITDA for the period of the most recent four consecutive fiscal quarters ending prior to the date of such determination for which consolidated financial statements of the Company are available, provided that:

 

(1) if since the beginning of such period the Company or any Restricted Subsidiary shall have made a Sale, the Consolidated EBITDA for such period shall be reduced by an amount equal to the Consolidated EBITDA (if positive) attributable to the assets that are the subject of such Sale for such period or increased by an amount equal to the Consolidated EBITDA (if negative) attributable thereto for such period;

 

(2) if since the beginning of such period the Company or any Restricted Subsidiary (by merger, consolidation or otherwise) shall have made a Purchase (including any Purchase occurring in connection with a transaction causing a calculation to be made hereunder), Consolidated EBITDA for such period shall be calculated after giving pro forma effect thereto as if such Purchase occurred on the first day of such period; and

 

(3) if since the beginning of such period any Person became a Restricted Subsidiary or was merged or consolidated with or into the Company or any Restricted Subsidiary, and since the beginning of such period such Person shall have made any Sale or Purchase that would have required an adjustment pursuant to clause (1) or (2) above if made by the Company or a Restricted Subsidiary since the beginning of such period, Consolidated EBITDA for such period shall be calculated after giving pro forma effect thereto as if such Sale or Purchase occurred on the first day of such period.

 

For purposes of this definition, whenever pro forma effect is to be given to any Sale, Purchase or other transaction, or the amount of income or earnings relating thereto, the pro forma calculations in respect thereof (including, without limitation, in respect of anticipated net cost savings or synergies relating to any such Sale, Purchase or other transaction) shall be as determined in good faith by the Chief Financial Officer or an authorized Officer of the Company; provided that such net cost savings or synergies are reasonably identifiable and factually supportable.”

 

“‘Waterworks Sale’ means the sale of the Company’s Waterworks business unit consummated on August 1, 2017.”

 

Section 102.  Limited Condition Acquisition.  Section 121 of the Indenture is hereby amended by adding the bold and underlined text and removing the bold and striked through text set forth below:

 

“(i) determining compliance with any provision of this Indenture which requires the calculation of the Consolidated Coverage Ratio,  or  the Consolidated Secured Leverage Ratio or the Consolidated Leverage Ratio;”

 

Section 103.  Limitation on Restricted Payments.  Section 409 of the Indenture is hereby amended by:

 

(a) deleting the “and” at the end of subsection (b)(xiv) and inserting an “and” at the end of subsection (b)(xv) immediately following the semicolon;

 

(b) adding the following to subsection (b):

 

“(xvi) Restricted Payments (including loans or advances) in an aggregate amount not to exceed (1) $500,000,000 and (2) thereafter, upon full use of such capacity set forth in clause (1), an additional amount, if any, such that, after giving pro forma effect to such Restricted Payment, the Company’s Consolidated Leverage Ratio does not exceed 3.00 to 1.00;”; and

 

(c) modifying subsection (b)(C) thereof by adding the bold and underlined text set forth below:

 

“(C) solely with respect to clauses (vii) and (xvi), no Default or Event of Default shall be continuing at the time of any such Permitted Payment after giving effect thereto.”

 

 

Section 104.  Interest and Interest Rates.  Section 4 of the First Supplemental Indenture is hereby amended by deleting the period at the end of the first sentence and replacing it with the following:

 

“; provided that, interest on the Outstanding principal amount of 2024 Notes will accrue at the rate of 7.00% per annum, commencing from and including April 15, 2019.”

 

Section 105.  Note.  The amendments to the Indenture set forth above shall be deemed reflected on the Notes, and the Notes shall be deemed so amended, as applicable and appropriate.

 

ARTICLE TWO

MISCELLANEOUS PROVISIONS

 

Section 201.  Governing Law.  THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. THE TRUSTEE, THE COMPANY, ANY OTHER OBLIGOR IN RESPECT OF THE NOTES AND (BY THEIR ACCEPTANCE OF THE NOTES) THE HOLDERS AGREE TO SUBMIT TO THE JURISDICTION OF ANY UNITED STATES FEDERAL OR STATE COURT LOCATED IN THE BOROUGH OF MANHATTAN, IN THE CITY OF NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS SUPPLEMENTAL INDENTURE.

 

Section 202.  Ratification of Indenture; Effect of Supplemental Indenture; Conflicts with Indenture.  This Supplemental Indenture is executed by the Company, the Subsidiary Guarantors and the Trustee upon the Company’s request, pursuant to the provisions of the Indenture, and the terms and conditions hereof shall be deemed to be part of the Indenture for all purposes. The Indenture, as supplemented and amended by this Supplemental Indenture, is in all respects hereby adopted, ratified and confirmed. Notwithstanding the foregoing, to the extent that any of the terms of this Supplemental Indenture are inconsistent with, or conflict with, the terms of the Indenture, the terms of this Supplemental Indenture shall govern.

 

Section 203.  Counterparts.  The parties hereto may sign one or more copies of this Supplemental Indenture in counterparts, all of which together shall constitute one and the same agreement.

 

Section 204.  Headings.  The section headings herein are for convenience of reference only and shall not be deemed to alter or affect the meaning or interpretation of any provisions hereof.

 

[Remainder of page intentionally left blank; signature page follows]

 

 

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

 

	
 
    	
HD SUPPLY, INC.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Evan J. Levitt
    
	
 
    	
 
    	
 
    
	
 
    	
Name:
    	
Evan J. Levitt
    
	
 
    	
 
    	
 
    
	
 
    	
Title:
    	
Senior Vice President,   Chief Financial Officer and Chief Administrative Officer
    

 

[Signature Page to Second Supplemental Indenture]

 

 

	
 
    	
SUBSIDIARY GUARANTORS:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
HD SUPPLY CONSTRUCTION   SUPPLY GROUP, INC.
    
	
 
    	
 
    
	
 
    	
HD SUPPLY FM SERVICES,   LLC
    
	
 
    	
 
    
	
 
    	
HD SUPPLY GP &   MANAGEMENT, INC.
    
	
 
    	
 
    
	
 
    	
HD SUPPLY   MANAGEMENT, INC.
    
	
 
    	
 
    
	
 
    	
HD SUPPLY SUPPORT   SERVICES, INC.
    
	
 
    	
 
    
	
 
    	
WHITE CAP CONSTRUCTION   SUPPLY, INC.
    
	
 
    	
 
    
	
 
    	
HD SUPPLY HOLDINGS, LLC
    
	
 
    	
 
    
	
 
    	
HDS IP HOLDING, LLC
    
	
 
    	
 
    
	
 
    	
HD SUPPLY   REPAIR & REMODEL, LLC
    

 

 

	
 
    	
By:
    	
/s/ Evan J. Levitt
    
	
 
    	
 
    	
 
    
	
 
    	
Name:
    	
Evan J. Levitt
    
	
 
    	
 
    	
 
    
	
 
    	
Title:
    	
Senior Vice President   and Chief Financial Officer
    

 

 

	
 
    	
HD SUPPLY CONSTRUCTION   SUPPLY, LTD.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
HD Supply GP &   Management, Inc., its general partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Evan J. Levitt
    
	
 
    	
 
    	
 
    
	
 
    	
Name:
    	
Evan J. Levitt
    
	
 
    	
 
    	
 
    
	
 
    	
Title:
    	
Senior Vice President   and Chief Financial Officer
    

 

[Signature Page to Second Supplemental Indenture]

 

 

	
 
    	
HD SUPPLY FACILITIES   MAINTENANCE, LTD.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
HD Supply GP &   Management, Inc., its general partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Evan J. Levitt
    
	
 
    	
 
    	
 
    
	
 
    	
Name:
    	
Evan J. Levitt
    
	
 
    	
 
    	
 
    
	
 
    	
Title:
    	
Senior Vice President   and Chief Financial Officer
    

 

[Signature Page to Second Supplemental Indenture]

 

 

	
 
    	
WELLS FARGO BANK,   NATIONAL ASSOCIATION, as Trustee
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Authorized   Signatory
    
	

    	
 
    	
 
    
	
 
    	
Authorized Signatory
    

 

[Signature Page to Second Supplemental Indenture]

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