Document:

Exhibit
10.71

 

THIS
NOTE AND THE SECURITIES ISSUABLE UPON THE CONVERSION HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE “ACT”), OR UNDER THE SECURITIES LAWS OF ANY STATES IN THE UNITED STATES. THESE SECURITIES ARE SUBJECT
TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER THE ACT AND THE APPLICABLE
STATE SECURITIES LAWS, PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM. THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION
OF COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER TO THE EFFECT THAT ANY PROPOSED TRANSFER OR RESALE IS IN COMPLIANCE
WITH THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS.

 

CONVERTIBLE
PROMISSORY NOTE

 

CPN
#: 2018-A27 

 

	Note
    Series:	 	2018A
	 	 	 
	Date
    of Note:	 	November
    7, 2018
	 	 	 
	Principal
    Amount of Note:	 	$184,000.00

  

For
value received Cannawake Corporation, a Delaware corporation (the “Company”),
promises to pay to the undersigned holder or such party’s assigns (the “Holder”) the principal
amount set forth above with simple interest on the outstanding principal amount at the rate of 6% per annum. Interest shall commence
with the date hereof and shall continue on the outstanding principal amount until paid in full or converted. Interest shall be
computed on the basis of a year of 365 days for the actual number of days elapsed. All unpaid interest and principal shall be
due and payable the upon request of the Holder on or after the date which is 3 years from the Date of Note, as listed above (the
“Maturity Date”).

 

1.
Basic Terms.

 

(a)
Series of Notes. This convertible promissory note (the “Note”) is issued as part of a series of
notes designated by the Note Series above (collectively, the “Notes”), and having an aggregate principal
amount not to exceed $500,000 and issued on or before December 31, 2018 in a series of multiple closings to certain persons and
entities (collectively, the “Holders”). The Company shall maintain a ledger of all Holders.

 

(b)
Payments. All payments of interest and principal shall be in lawful money of the United States of America and shall be made
pro rata among all Holders. All payments shall be applied first to accrued interest, and thereafter to principal.

 

(c)
Prepayment. The Company may prepay this Note, without premium or penalty, at any time prior to the Maturity Date without the
consent of the Holder.

 

2.
Conversion and Repayment.

 

(a)
Procedure for Conversion. In connection with any conversion of this Note into capital stock, the Holder shall surrender this
Note to the Company and deliver to the Company a written Notice of Conversion. The Company shall not be required to issue or deliver
the capital stock into which this Note may convert until the Holder has surrendered this Note to the Company and delivered to
the Company a written Notice of Conversion. Upon the conversion of this Note into capital stock pursuant to the terms hereof,
in lieu of any fractional shares to which the Holder would otherwise be entitled, the Company shall round each such fraction up
to the nearest whole share

 

     

     

    

  

(b)
Conversion Price. Subject to a written Notice of Conversion, and the limitations specified in subsection (d) below, the Holder
shall be entitled, at its option, and sole discretion, to convert, at any time after 180 days following the issue date of this
note, and from time to time thereafter, until payment in full of this Note, all or any part of the principal amount of
the Note, plus accrued interest, into shares (the “Conversion Shares”) of the Company’s common stock, par value $0.0001
per share (“Common Stock”), at the price per share (the “Conversion Price”). The Conversion Price shall be
the number that is equal to Two US Cents (US $0.02) per share.

 

(c)
Limitation on Conversion.

 

(i)
Notwithstanding the above, in no event, shall a Holder of be allowed to convert any portion of this Note into Common Stock
which, upon giving effect to such conversion, would cause the aggregate number of shares of Common Stock beneficially owned by
the Holder, and/or its affiliates, to exceed four and nine tenths percent (4.9%) of the currently issued and outstanding shares
of the Corporation.

 

(ii)
In reference to any Notice of Conversion under this Note, the Holder shall affirm in its written Notice of Conversion, under
penalty of perjury, the exact number of shares held by the Holder on the date of the notice, and the Company shall have the right
to reduce any demand for conversion by a number such that the total number of shares of Common Stock held by the Holder after
conversion will not exceed four and nine tenths percent (4.9%) of the currently issued and outstanding shares of Common Stock
of the Corporation.

 

(d)
Change of Control. If the Company consummates a Change of Control (as defined below) while this Note remains outstanding,
the Company shall repay the Holder in cash in an amount equal to the outstanding principal amount of this Note plus any unpaid
accrued interest on the original principal. For purposes of this Note, a “Change of Control” means (i)
a consolidation or merger of the Company with or into any other corporation or other entity or person, or any other corporate
reorganization, other than any such consolidation, merger or reorganization in which the shares of capital stock of the Company
immediately prior to such consolidation, merger or reorganization continue to represent a majority of the voting power of the
surviving entity immediately after such consolidation, merger or reorganization; (ii) any transaction or series of related transactions
to which the Company is a party in which in excess of 50% of the Company’s voting power is transferred; or (iii) the sale
or transfer of all or substantially all of the Company’s assets, or the exclusive license of all or substantially all of
the Company’s material intellectual property; provided that a Change of Control shall not include any transaction or series
of transactions principally for bona fide equity financing purposes in which cash is received by the Company or any successor,
indebtedness of the Company is cancelled or converted or a combination thereof. The Company shall give the Holder notice of a
Change of Control not less than 10 days prior to the anticipated date of consummation of the Change of Control. Any repayment
pursuant to this paragraph in connection with a Change of Control shall be subject to any required tax withholdings and may be
made by the Company (or any party to such Change of Control, or its agent) following the Change of Control in connection with
payment procedures established in connection with such Change of Control. Notwithstanding the above, any transaction between the
Company and American Green, Inc. shall not be a Change of Control for the purposes of this Note.

 

    Page 2 of 9

     

    

 

3.
Protection Against Dilution and Other Adjustments.

 

(a)
Capital Adjustments. If the Company shall at any time prior to the expiration of this Note subdivide the Common Stock,
by split-up or stock split, or otherwise, or combine its Common Stock, or issue additional shares of its Common Stock as a dividend,
the number of Conversion Shares issuable upon the exercise of this Note shall forthwith be automatically increased proportionately
in the case of a subdivision, split or stock dividend, or proportionately decreased in the case of a combination. Appropriate
adjustments shall also be made to the Conversion Price and other applicable amounts, but the aggregate purchase price payable
for the total number of Conversion Shares purchasable under this Note (as adjusted) shall remain the same. Any adjustment under
this Section 3(a) shall become effective automatically at the close of business on the date the subdivision or combination becomes
effective, or as of the record date of such dividend, or in the event that no record date is fixed, upon the making of such dividend.

 

(b)
Reclassification, Reorganization and Consolidation. In case of any reclassification, capital reorganization, or change
in the capital stock of Company (other than as a result of a subdivision, combination, or stock dividend provided for in Section
3(a) above), then Company shall make appropriate provision so that Holder shall have the right at any time prior to the expiration
of this Note to purchase, at a total price equal to that payable upon the exercise of this Note, the kind and amount of shares
of stock and other securities and property receivable in connection with such reclassification, reorganization, or change by a
holder of the same number of shares of Common Stock as were purchasable by Holder immediately prior to such reclassification,
reorganization, or change. In any such case appropriate provisions shall be made with respect to the rights and interest of Holder
so that the provisions hereof shall thereafter be applicable with respect to any shares of stock or other securities and property
deliverable upon exercise hereof, and appropriate adjustments shall be made to the Conversion Price, provided the Aggregate Conversion
Price payable shall remain the same.

 

(c)
Dilutive Issuances. If the Company at any time while this Note is outstanding shall issue any convertible debt (“Convertible
Debt”) entitling any person to acquire in excess of 100,000 shares of Common Stock, at an effective price per share less
than the then Conversion Price (such lower price, the “Base Share Price” and such issuances collectively, a “Dilutive
Issuance”) or if the holder of any Common Stock or Common Stock equivalents (‘Common Stock Equivalents”) issued
in connection therewith shall at any time, whether by operation of purchase price adjustments, reset provisions, floating conversion,
exercise or exchange prices or otherwise, or due to warrants, options or rights per share which are issued in connection with
such issuance, be entitled to receive shares of Common Stock at an effective price per share which is less than the Conversion
Price (such issuance shall be deemed to have occurred for less than the Conversion Price on such date of the Dilutive Issuance),
then the Conversion Price shall be reduced to equal the Base Share Price and the number of Conversion Shares issuable hereunder
shall be increased such that the Aggregate Conversion Price Payable hereunder, after taking into account the decrease in the Conversion
Price, shall be equal to the Aggregate Conversion Price Prior to such adjustment. Such adjustment shall be made whenever such
Convertible Debt, Common Stock or Common Stock Equivalents constituting a Dilutive Issuance are issued. Notwithstanding the foregoing,
no adjustments shall be made, paid or issued under this Section 3(c) in respect of an Exempt Issuance. Exempt Issuances shall
not include (1) shares of Common Stock and options, warrants or other rights to purchase Common Stock issued or issuable to employees,
officers or directors of, or consultants or advisors to, the Company or any subsidiary pursuant to stock grants, restricted stock
purchase agreements, option plans, purchase plans, incentive programs or similar arrangements; (2) shares of Common Stock issued
upon the exercise or conversion of Common Stock Equivalents outstanding at the issue date of this Note; (3) shares of Common Stock
issued or issuable pursuant to the acquisition of another corporation by the Company by merger, purchase of substantially all
of the assets or other reorganization or to a joint venture agreement, provided, that such issuances are unanimously approved
by the Company’s Board of Directors; and (4) shares of Common Stock issued or issuable in connection with sponsored research,
collaboration, technology license, development, OEM, marketing or other similar agreements or strategic partnerships unanimously
approved by the Company’s Board of Directors.

 

    Page 3 of 9

     

    

 

4.
Representations and Warranties.

 

(a)
Representations and Warranties of the Company. The Company hereby represents and warrants to the Holder as of the date the
first Note was issued as follows:

 

(i)
Organization, Good Standing and Qualification. The Company is a corporation duly organized, validly existing and in good standing
under the laws of the State of Delaware. The Company has the requisite corporate power to own and operate its properties and assets
and to carry on its business as now conducted and as proposed to be conducted. The Company is duly qualified and is authorized
to do business and is in good standing as a foreign corporation in all jurisdictions in which the nature of its activities and
of its properties (both owned and leased) makes such qualification necessary, except for those jurisdictions in which failure
to do so would not have a material adverse effect on the Company or its business (a “Material Adverse Effect”).

 

(ii)
Corporate Power. The Company has all requisite corporate power to issue this Note and to carry out and perform its obligations
under this Note. The Company’s Board of Directors (the “Board”) has approved the issuance of this
Note based upon a reasonable belief that the issuance of this Note is appropriate for the Company after reasonable inquiry concerning
the Company’s financing objectives and financial situation.

 

(iii)
Authorization. All corporate action on the part of the Company, the Board and the Company’s stockholders necessary for
the issuance and delivery of this Note has been taken. This Note constitutes a valid and binding obligation of the Company enforceable
in accordance with its terms, subject to laws of general application relating to bankruptcy, insolvency, the relief of debtors
and, with respect to rights to indemnity, subject to federal and state securities laws. Any securities issued upon conversion
of this Note (the “Conversion Securities”), when issued in compliance with the provisions of this Note,
will be validly issued, fully paid, nonassessable, free of any liens or encumbrances and issued in compliance with all applicable
federal and securities laws.

 

(iv)
Governmental Consents. All consents, approvals, orders or authorizations of, or registrations, qualifications, designations,
declarations or filings with, any governmental authority required on the part of the Company in connection with issuance of this
Note has been obtained.

 

(v)
Compliance with Laws. To its knowledge, the Company is not in violation of any applicable statute, rule, regulation, order
or restriction of any domestic or foreign government or any instrumentality or agency thereof in respect of the conduct of its
business or the ownership of its properties, which violation of which would have a Material Adverse Effect.

 

(vi)
Compliance with Other Instruments. The Company is not in violation or default of any term of its certificate of incorporation
or bylaws, or of any provision of any mortgage, indenture or contract to which it is a party and by which it is bound or of any
judgment, decree, order or writ, other than such violation(s) that would not have a Material Adverse Effect. The execution, delivery
and performance of this Note will not result in any such violation or be in conflict with, or constitute, with or without the
passage of time and giving of notice, either a default under any such provision, instrument, judgment, decree, order or writ or
an event that results in the creation of any lien, charge or encumbrance upon any assets of the Company or the suspension, revocation,
impairment, forfeiture, or nonrenewal of any material permit, license, authorization or approval applicable to the Company, its
business or operations or any of its assets or properties. Without limiting the foregoing, the Company has obtained all waivers
reasonably necessary with respect to any preemptive rights, rights of first refusal or similar rights, including any notice or
offering periods provided for as part of any such rights, in order for the Company to consummate the transactions contemplated
hereunder without any third party obtaining any rights to cause the Company to offer or issue any securities of the Company as
a result of the consummation of the transactions contemplated hereunder.

 

    Page 4 of 9

     

    

  

(vii)
Offering. Assuming the accuracy of the representations and warranties of the Holder contained in subsection (b) below, the
offer, issue, and sale of this Note and the Conversion Securities (collectively, the “Securities”) are
and will be exempt from the registration and prospectus delivery requirements of the Act, and have been registered or qualified
(or are exempt from registration and qualification) under the registration, permit or qualification requirements of all applicable
state securities laws.

 

(viii)
Use of Proceeds. The Company shall use the proceeds of this Note solely for the operations of its business, and not for any
personal, family or household purpose.

 

(b)
Representations and Warranties of the Holder. The Holder hereby represents and warrants to the Company as of the date hereof
as follows:

 

(i)
Purchase for Own Account. The Holder is acquiring the Securities solely for the Holder’s own account and beneficial
interest for investment and not for sale or with a view to distribution of the Securities or any part thereof, has no present
intention of selling (in connection with a distribution or otherwise), granting any participation in, or otherwise distributing
the same, and does not presently have reason to anticipate a change in such intention.

 

(ii)
Information and Sophistication. Without lessening or obviating the representations and warranties of the Company set forth
in subsection (a) above, the Holder hereby: (A) acknowledges that the Holder has received all the information the Holder has requested
from the Company and the Holder considers necessary or appropriate for deciding whether to acquire the Securities, (B) represents
that the Holder has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions
of the offering of the Securities and to obtain any additional information necessary to verify the accuracy of the information
given the Holder and (C) further represents that the Holder has such knowledge and experience in financial and business matters
that the Holder is capable of evaluating the merits and risk of this investment.

 

(iii)
Ability to Bear Economic Risk. The Holder acknowledges that investment in the Securities involves a high degree of risk, and
represents that the Holder is able, without materially impairing the Holder’s financial condition, to hold the Securities
for an indefinite period of time and to suffer a complete loss of the Holder’s investment.

 

(iv)
Further Limitations on Disposition. Without in any way limiting the representations set forth above, the Holder further agrees
not to make any disposition of all or any portion of the Securities unless and until:

 

(1)
There is then in effect a registration statement under the Act covering such proposed disposition and such disposition is
made in accordance with such registration statement; or

 

(2)
The Holder shall have notified the Company of the proposed disposition and furnished the Company with a detailed statement
of the circumstances surrounding the proposed disposition, and if reasonably requested by the Company, the Holder shall have furnished
the Company with an opinion of counsel, reasonably satisfactory to the Company, that such disposition will not require registration
under the Act or any applicable state securities laws; provided that no such opinion shall be required for dispositions in compliance
with Rule 144 under the Act, except in unusual circumstances.

 

    Page 5 of 9

     

    

 

(3)
Notwithstanding the provisions of paragraphs (1) and (2) above, no such registration statement or opinion of counsel shall
be necessary for a transfer by the Holder to a partner (or retired partner) or member (or retired member) of the Holder in accordance
with partnership or limited liability company interests, or transfers by gift, will or intestate succession to any spouse or lineal
descendants or ancestors, if all transferees agree in writing to be subject to the terms hereof to the same extent as if they
were the Holders hereunder.

 

(v)
Accredited Investor Status. The Holder is an “accredited investor” as such term is defined in Rule 501 under the
Act.

 

(vi)
defined by Section 7701(a)(30) of the Internal Revenue Code of 1986, as amended (the “Code”)), the
Holder hereby represents that he, she or it has satisfied itself as to the full observance of the laws of the Holder’s jurisdiction
in connection with any invitation to subscribe for the Securities or any use of this Note, including (A) the legal requirements
within the Holder’s jurisdiction for the purchase of the Securities, (B) any foreign exchange restrictions applicable to
such purchase, (C) any governmental or other consents that may need to be obtained, and (D) the income tax and other tax consequences,
if any, that may be relevant to the purchase, holding, redemption, sale or transfer of the Securities. The Holder’s subscription,
payment for and continued beneficial ownership of the Securities will not violate any applicable securities or other laws of the
Holder’s jurisdiction.

 

(vii)
Forward-Looking Statements. With respect to any forecasts, projections of results and other forward-looking statements and
information provided to the Holder, the Holder acknowledges that such statements were prepared based upon assumptions deemed reasonable
by the Company at the time of preparation. There is no assurance that such statements will prove accurate, and the Company has
no obligation to update such statements.

 

5.
Events of Default.

 

(a)
If there shall be any Event of Default (as defined below) hereunder, at the option and upon the declaration of the Holder
and upon written notice to the Company (which election and notice shall not be required in the case of an Event of Default under
subsection (ii) or (iii) below), this Note shall accelerate and all principal and unpaid accrued interest shall become due and
payable. The occurrence of any one or more of the following shall constitute an “Event of Default”:

 

(i)
The Company fails to pay timely any of the principal amount due under this Note on the date the same becomes due and payable
or any unpaid accrued interest or other amounts due under this Note on the date the same becomes due and payable;

 

(ii)
The Company files any petition or action for relief under any bankruptcy, reorganization, insolvency or moratorium law or
any other law for the relief of, or relating to, debtors, now or hereafter in effect, or makes any assignment for the benefit
of creditors or takes any corporate action in furtherance of any of the foregoing; or

 

(iii)
An involuntary petition is filed against the Company (unless such petition is dismissed or discharged within 60 days under
any bankruptcy statute now or hereafter in effect, or a custodian, receiver, trustee or assignee for the benefit of creditors
(or other similar official) is appointed to take possession, custody or control of any property of the Company).

 

(b)
In the event of any Event of Default hereunder, the Company shall pay all reasonable attorneys’ fees and court costs
incurred by the Holder in enforcing and collecting this Note.

 

    Page 6 of 9

     

    

 

6.
Miscellaneous Provisions.

 

(a)
Waivers. The Company hereby waives demand, notice, presentment, protest and notice of dishonor.

 

(b)
Further Assurances. The Holder agrees and covenants that at any time and from time to time the Holder will promptly execute
and deliver to the Company such further instruments and documents and take such further action as the Company may reasonably require
in order to carry out the full intent and purpose of this Note and to comply with state or federal securities laws or other regulatory
approvals.

 

(c)
Transfers of Notes. This Note may be transferred only upon its surrender to the Company for registration of transfer, duly
endorsed, or accompanied by a duly executed written instrument of transfer in a form satisfactory to the Company. Thereupon, this
Note shall be reissued to, and registered in the name of, the transferee, or a new Note for like principal amount and interest
shall be issued to, and registered in the name of, the transferee. Interest and principal shall be paid solely to the registered
holder of this Note. Such payment shall constitute full discharge of the Company’s obligation to pay such interest and principal.

 

(d)
Amendment and Waiver. Any term of this Note may be amended or waived with the written consent of the Company and the Holder.

 

(e)
Governing Law. This Note shall be governed by and construed under the laws of the State of Delaware, as applied to agreements
among Delaware residents, made and to be performed entirely within the State of Delaware, without giving effect to conflicts of
laws principles.

 

(f)
Binding Agreement. The terms and conditions of this Note shall inure to the benefit of and be binding upon the respective
successors and assigns of the parties. Nothing in this Note, expressed or implied, is intended to confer upon any third party
any rights, remedies, obligations or liabilities under or by reason of this Note, except as expressly provided in this Note.

 

(g)
Counterparts; Manner of Delivery. This Note 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. Counterparts may be delivered via facsimile,
electronic mail (including pdf or any electronic signature complying with the U.S. Federal ESIGN Act of 2000, Uniform Electronic
Transactions Act or other applicable law) or other transmission method and any counterpart so delivered shall be deemed to have
been duly and validly delivered and be valid and effective for all purposes.

 

(h)
Titles and Subtitles. The titles and subtitles used in this Note are used for convenience only and are not to be considered
in construing or interpreting this Note.

 

(i)
Notices. All notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (i) upon personal
delivery to the party to be notified, (ii) when sent by confirmed electronic mail or facsimile if sent during normal business
hours of the recipient, if not, then on the next business day, (iii) five days after having been sent by registered or certified
mail, return receipt requested, postage prepaid, or (iv) one day after deposit with a nationally recognized overnight courier,
specifying next day delivery, with written verification of receipt. All communications to a party shall be sent to the party’s
address set forth on the signature page hereto or at such other address(es) as such party may designate by 10 days’ advance
written notice to the other party hereto.

 

(j)
Expenses. The Company and the Holder shall each bear its respective expenses and legal fees incurred with respect to the negotiation,
execution and delivery of this Note and the transactions contemplated herein.

 

    Page 7 of 9

     

    

 

(k)
Delays or Omissions. It is agreed that no delay or omission to exercise any right, power or remedy accruing to the Holder,
upon any breach or default of the Company under this Note shall impair any such right, power or remedy, nor shall it be construed
to be a waiver of any such breach or default, or any acquiescence therein, or of or in any similar breach or default thereafter
occurring; nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore
or thereafter occurring. It is further agreed that any waiver, permit, consent or approval of any kind or character by the Holder
of any breach or default under this Note, or any waiver by the Holder of any provisions or conditions of this Note, must be in
writing and shall be effective only to the extent specifically set forth in writing and that all remedies, either under this Note,
or by law or otherwise afforded to the Holder, shall be cumulative and not alternative. This Note shall be void and of no force
or effect in the event that the Holder fails to remit the full principal amount to the Company within five calendar days of the
date of this Note.

 

(l)
Entire Agreement. This Note constitutes the full and entire understanding and agreement between the parties with regard to
the subjects hereof, and no party shall be liable or bound to any other party in any manner by any representations, warranties,
covenants and agreements except as specifically set forth herein.

 

(m)
Exculpation among Holders. The Holder acknowledges that the Holder is not relying on any person, firm or corporation, other
than the Company and its officers and Board members, in making its investment or decision to invest in the Company.

 

(n)
Senior Indebtedness. The indebtedness evidenced by this Note is subordinated in right of payment to the prior payment in full
of any Senior Indebtedness in existence on the date of this Note or hereafter incurred. “Senior Indebtedness”
shall mean, unless expressly subordinated to or made on a parity with the amounts due under this Note, all amounts due in connection
with (i) indebtedness of the Company to banks or other lending institutions regularly engaged in the business of lending money
(excluding venture capital, investment banking or similar institutions and their affiliates, which sometimes engage in lending
activities but which are primarily engaged in investments in equity securities), and (ii) any such indebtedness or any debentures,
notes or other evidence of indebtedness issued in exchange for such Senior Indebtedness, or any indebtedness arising from the
satisfaction of such Senior Indebtedness by a guarantor.

 

(o)
Broker’s Fees. Each party hereto represents and warrants that no agent, broker, investment banker, person or firm acting
on behalf of or under the authority of such party hereto is or will be entitled to any broker’s or finder’s fee or
any other commission directly or indirectly in connection with the transactions contemplated herein. Each party hereto further
agrees to indemnify each other party for any claims, losses or expenses incurred by such other party as a result of the representation
in this subsection being untrue.

 

[Signature
pages follow]

 

    Page 8 of 9

     

    

 

The
parties have executed this Convertible Promissory Note as of the date first
noted above.

 

	 	COMPANY:
	 	 
	 	CANNAWAKE
    CORPORATION
	 	 	 
	 	By:	/s/
    Scott Stoegbauer
	 	 	Name:	Scott
    Stoegbauer
	 	 	Title:	Chief
    Executive Officer
	 	 	 	 
	 	E-mail:	 	scott@cannawakecorporation.com
	 	 	 	 
	 	Address:	 	16427
    North Scottsdale Road
	 	 	 	Suite
    410
	 	 	 	Scottsdale,
    Arizona 85254
	 	 	 	 
	 	HOLDER
    (if an entity): 
	 	 	 
	 	Holder:	SUNRISE
    COMMUNICATIONS, LLC
	 	 	 
	 	Signature:	/s/
    Jillian Sanburg-Jacobs
	 	 	 
	 	 	Name:
    	Jillian
    Sanburg-Jacobs
	 	 	Title:	Manager
	 	 	 	 
	 	E-mail:		jillian@sunrisecommunications.us
	 	 	 	 
	 	Address:		820
    N RIVER ST STE 206
	 	 	 	PORTLAND
    OR 97227-1787
	 	 	 	 
	 	 	 	 
	 	HOLDER
    (if an individual): 
	 	 
	 	Holder:	 
	 	 	 
	 	Signature:
    	 
	 	 	 
	 	E-mail:	 	 
	 	 	 	 
	 	Address:	 	 
	 	 	 	 
	 	 	 	 

 

SIGNATURE
PAGE TO

CANNAWAKE CORPORATION

CONVERTIBLE PROMISSORY NOTE 

 

    Page 9 of 9Exhibit

                           Exhibit 10.1
[EXECUTION COPY]
        
AMENDMENT NO. 3 dated as of December 5, 2018 (this “Amendment”), to the CREDIT AGREEMENT dated as of April 20, 2016 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among COMPASS MINERALS INTERNATIONAL, INC., a Delaware corporation (the “US Borrower”), COMPASS MINERALS CANADA CORP., a corporation continued and amalgamated under the laws of the province of Nova Scotia, Canada (the “Canadian Borrower”), COMPASS MINERALS UK LIMITED, a company incorporated under the laws of England and Wales (the “UK Borrower” and, together with the US Borrower and the Canadian Borrower, the “Borrowers”), the several banks and other financial institutions or entities from time to time party thereto (the “Lenders”) and JPMORGAN CHASE BANK, N.A., as administrative agent for the Lenders and as collateral agent for the Secured Parties.  Capitalized terms used in this Amendment but not otherwise defined shall have the meanings assigned to such terms in the Credit Agreement.
WHEREAS pursuant to the Credit Agreement, the Lenders have agreed to extend credit to the Borrowers on the terms and subject to the conditions set forth therein;
WHEREAS the Borrowers have requested that the Lenders amend certain provisions of the Credit Agreement; and
WHEREAS the Required Lenders are willing to make such amendments to the Credit Agreement, on the terms and subject to the conditions set forth herein.
NOW, THEREFORE, in consideration of the mutual agreements herein contained and other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, and subject to the conditions set forth herein, the parties hereto hereby agree as follows:
SECTION 1.  Amendments to the Credit Agreement.

(a)The definition of “Available Amount” in Section 1.01 of the Credit Agreement is hereby amended by replacing the text in each of clauses (f) and (h) of such definition with the following text:  “[reserved];”

(b)The definition of “Consolidated Adjusted EBITDA” in Section 1.01 of the Credit Agreement is hereby amended by (i) adding the text “(except in the case of subclause (a)(x) below)” immediately after the text “for such period” in the lead-in to clause (a) of such definition; (ii) deleting the text “and” at the end of subclause (a)(viii) of such definition; and (iii) inserting a new subclause (a)(x) immediately after subclause (a)(ix) of such definition to read in its entirety as follows:

2

“(x) any reduction in Consolidated Net Income (as determined in good faith by the US Borrower) resulting from the labor strike of unionized employees at the Goderich Mine that commenced on April 27, 2018, and ended on July 16, 2018; provided that the aggregate increase to Consolidated Adjusted EBITDA pursuant to this subclause (a)(x) shall not exceed (A) $15,000,000 for the fiscal quarter of the US Borrower ended September 30, 2018, (B) $15,000,000 for the fiscal quarter of the US Borrower ending December 31, 2018, and (C) $20,000,000 for the fiscal quarter of the US Borrower ending March 31, 2019 (it being understood and agreed that Consolidated Adjusted EBITDA shall not be increased pursuant to this subclause (a)(x) for any other fiscal quarter of the US Borrower); and”

(c)The definition of “Secured Hedge Agreement” in Section 1.01 of the Credit Agreement is hereby amended by deleting the text “interest rate” in such definition.

(d)Section 1.01 of the Credit Agreement is hereby amended by adding the following definitions in the appropriate alphabetical order:

“Beneficial Ownership Certification” means a certification regarding beneficial ownership or control as required by the Beneficial Ownership Regulation.

“Beneficial Ownership Regulation” means 31 C.F.R. § 1010.230.

(e)Clause (g) of Section 5.02 of the Credit Agreement is hereby amended and restated to read in its entirety as follows (new text is in bold/underline, and deleted text is in strikethrough):

(g) promptly, (i) such additional information regarding the business, financial, legal or corporate affairs of the US Borrower or any of its Restricted Subsidiaries, or compliance with the terms of the Loan Documents, as the Administrative Agent or any Lender may from time to time reasonably request or (ii) such information and documentation reasonably requested by the Administrative Agent or any Lender for purposes of compliance with applicable “know your customer” requirements under the PATRIOT Act or other applicable anti-money laundering laws as the Administrative Agent or any Lender may from time to time reasonably request.

(f)Clause (b) of Section 5.03 of the Credit Agreement is hereby amended to add “and” at the end thereof and Section 5.03 of the Credit Agreement is hereby amended by adding the following new clause (c) in the appropriate alphabetical order:

(c) any change in the Persons identified in the Beneficial Ownership Certification most recently provided, if any, that would result in a change to the list of beneficial owners identified therein (and notwithstanding the following paragraph, no statement of a Responsible Officer referred to in the following paragraph shall be required to be delivered in connection therewith); provided that 

3

no written notice shall be required pursuant to this clause (c) in the case such change in Persons is publicly available on the SEC’s EDGAR website at http://www.sec.gov;

(g)Clause (f) of Section 6.04 of the Credit Agreement is hereby amended and restated to read in its entirety as follows (new text is in bold/underline, and deleted text is in strikethrough):

(f) any Disposition of other assets (other than (x) Equity Interests in any Domestic Restricted Subsidiary or any Canadian Restricted Subsidiary unless, in each case, all Equity Interests in such Restricted Subsidiary (other than directors’ qualifying shares) are sold; provided that no Disposition of the Equity Interests in the Canadian Borrower or, except as expressly permitted under clause (iv) of the proviso to this clause (f), the UK Borrower shall be permitted under this clause (f), (y) Equity Interests in any Foreign Subsidiary in excess of 49% of the Equity Interests in such Foreign Subsidiary, unless all Equity Interests in such Restricted Subsidiary (other than directors’ qualifying shares) are sold and (yz) the Goderich Mine) for fair market value; provided that (i) no Event of Default exists or would result therefrom, (ii) with respect to any Disposition pursuant to this Section 6.04(f), at least 75% of the total consideration for any such Disposition (or, solely in the case of any Disposition of any Non-Core Assets, at least 50% of the total consideration for any such Disposition) shall be received by the US Borrower and its Restricted Subsidiaries in the form of cash and Cash Equivalents (in each case, free and clear of all Liens at the time received, other than Liens permitted by Section 6.02); provided, however, that for the purposes of this clause (ii), the following shall be deemed to be cash: (A) any liabilities (as shown on the most recent balance sheet of the US Borrower and its Restricted Subsidiaries provided hereunder or in the footnotes thereto) of the US Borrower or any Restricted Subsidiary, other than liabilities that are by their terms subordinated to the payment in cash of the Obligations, that are assumed by the transferee with respect to the applicable Disposition and for which the US Borrower and all of its Restricted Subsidiaries shall have been validly released by all applicable creditors in writing, (B) any securities received by the US Borrower or the applicable Restricted Subsidiary from such transferee that are converted by the US Borrower or such Restricted Subsidiary into cash or Cash Equivalents (to the extent of the cash or Cash Equivalents received) within 30 days following the closing of the applicable Disposition and (C) any Designated Non-Cash Consideration received by the US Borrower or the applicable Restricted Subsidiary in respect of such Disposition having an aggregate fair market value taken together with all other Designated Non-Cash Consideration received pursuant to this clause (C) that is at that time outstanding, not in excess of $25,000,000 at the time of the receipt of such Designated Non-Cash Consideration, with the fair market value of each item of Designated Non-Cash Consideration being measured at the time received and without giving effect to subsequent changes in value, shall be deemed to be cash consideration, (iii) the requirements of Section 2.11(a), to the extent applicable, are complied with in connection therewith; provided, however, that this clause (iii) shall not apply to any Disposition of assets of the UK Business if, after giving 

4

pro forma effect to such Disposition, the Consolidated Total Leverage Ratio determined on a pro forma basis as of the last day of the most recently ended Test Period would be less than or equal to 3.00:1.00, and (iv) in the case of the Disposition of the Equity Interests in the UK Borrower (the “UK Borrower Disposition”), (A) the US Borrower shall deliver to the Administrative Agent a certificate of a Responsible Officer certifying (and the Administrative Agent shall be satisfied) that no Loans made to the UK Borrower are outstanding as of the date of the UK Borrower Disposition and all interest, fees and any other amounts payable by the UK Borrower under this Agreement and the other Loan Documents and accrued as of the date of the UK Borrower Disposition have been paid in full in cash and (B) immediately after the consummation of the UK Borrower Disposition, the UK Borrower shall cease to be a Borrower under this Agreement and the other Loan Documents and shall cease to have any right to have any Loans or other Credit Extensions made to it hereunder or under any other Loan Document and (v) in connection with the sale of less than all the Equity Interests of any Foreign Subsidiary permitted under this clause (f), the Net Cash Proceeds thereof shall be applied to prepay the Term Loans in accordance with Section 2.11(a) (without giving effect to the reinvestment rights set forth in such Section 2.11(a)) and, to the extent of any such Net Cash Proceeds remaining, to make a voluntary prepayment of the Revolving Loans in accordance with Section 2.10(a);

(h)Section 6.05 of the Credit Agreement is hereby amended by replacing clause (h) of such Section in its entirety with the following text:

“(h)    so long as no Event of Default shall have occurred and be continuing or would result therefrom, the US Borrower may make Restricted Payments in an aggregate amount not to exceed (x) in the fiscal quarter of the US Borrower ending December 31, 2018, $25,000,000 (less the amount of prepayments of Indebtedness made in reliance on subclause (x) of clause (iii) of Section 6.07(a) during such fiscal quarter) and (y) in any fiscal year of the US Borrower (commencing with the fiscal year of the US Borrower ending December 31, 2019), $100,000,000 (less the amount of prepayments of Indebtedness made in reliance on subclause (y) of clause (iii) of Section 6.07(a) during such fiscal year); provided that, in the case of subclauses (x) and (y), the US Borrower is in pro forma compliance with the financial covenants set forth in Section 6.13, recomputed as of the last day of the most recently ended Test Period (it being understood that if no Test Period cited in Section 6.13 has passed, the covenants in Section 6.13 for the first Test Period cited in Section 6.13 shall be satisfied as of the last day of the most recently ended four-fiscal-quarter period ended on or prior to the making of such Restricted Payment), both before and after giving effect to such Restricted Payments;”

(i)Section 6.07 of the Credit Agreement is hereby amended by replacing clause (a)(iii) of such Section in its entirety with the following text:

5

“(iii)    so long as no Event of Default shall have occurred and be continuing or would result therefrom, the US Borrower or any Restricted Subsidiary may prepay any Junior Indebtedness in an aggregate amount not to exceed (x) in the fiscal quarter of the US Borrower ending December 31, 2018, $25,000,000 (less the amount of Restricted Payments made in reliance on subclause (x) of Section 6.05(h) during such fiscal quarter) and (y) in any fiscal year of the US Borrower (commencing with the fiscal year of the US Borrower ending December 31, 2019), the greater of $100,000,000 and 6% of Consolidated Total Assets (less the amount of Restricted Payments made in reliance on subclause (y) of Section 6.05(h) during such fiscal year); provided that, in the case of subclauses (x) and (y), the US Borrower is in pro forma compliance with the financial covenants set forth in Section 6.13, recomputed as of the last day of the most recently ended Test Period (it being understood that if no Test Period cited in Section 6.13 has passed, the covenants in Section 6.13 for the first Test Period cited in Section 6.13 shall be satisfied as of the last day of the most recently ended four-fiscal-quarter period ended on or prior to the making of such Restricted Payment), both before and after giving effect to such prepayment;”
SECTION 2.  Representations and Warranties.  Each Borrower represents and warrants to the Administrative Agent and to each of the Lenders that (a) this Amendment has been duly authorized, executed and delivered by an authorized officer of such Borrower and constitutes a legal, valid and binding obligation of such Borrower, enforceable against such Borrower in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors’ rights generally, regardless of whether considered in a proceeding in equity or at law and (b) to the best knowledge of the Borrowers, the information included (or to be included) in the Beneficial Ownership Certification provided to the Administrative Agent and the Lenders (as required by Section 4 below) is (or will be) true and correct in all respects.

SECTION 3.  Effectiveness.  This Amendment shall become effective as of the date (the “Amendment Effective Date”):

(a)the Administrative Agent shall have received counterparts of this Amendment that, when taken together, bear the signatures of each Borrower, the Administrative Agent and the Required Lenders;

(b)as of the Amendment Effective Date, no Default or Event of Default shall have occurred and be continuing;

(c)each representation and warranty set forth in Section 2 hereof and each other representation and warranty made by any Loan Party in or pursuant to the Loan Documents is true and correct in all material respects on and as of the Amendment Effective Date, except to the extent such representation and warranty expressly relates to an earlier date (in which case such representation and warranty is true and correct in all material respects as of such earlier date); provided that any representation and warranty that is qualified as to “materiality”, “Material Adverse Effect” or similar language is true and 

6

correct (after giving effect to any qualification therein) in all respects on such respective dates; and

(d)the fees and expenses required to be paid pursuant to Section 8 hereof shall have been paid on or substantially simultaneously with (but in no event later than) the Amendment Effective Date.

SECTION 4.  Beneficial Ownership Certification.  To the extent that any Borrower qualifies as a “legal entity customer” under the Beneficial Ownership Regulation (as referenced in Section 1(c) above), the US Borrower hereby agrees to deliver to the Administrative Agent and any Lender that has requested, in a written notice to the US Borrower, a Beneficial Ownership Certification (as referenced in Section 1(c) above) in relation to the Borrowers, a Beneficial Ownership Certification not later than ten Business Days after the Amendment Effective Date, in the case of the Administrative Agent, or not later than ten Business Days after the date such written notice is received by the US Borrower, in the case of any Lender (or, in each case, such later date as the Administrative Agent may agree to in its sole discretion).

SECTION 5.  Credit Agreement.  Except as expressly set forth herein, this Amendment (a) shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the rights and remedies of the Lenders, the Administrative Agent, the US Borrower or any other Loan Party under the Credit Agreement or any other Loan Document and (b) shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Loan Document, all of which are ratified and affirmed in all respects and shall continue in full force and effect.  Nothing herein shall be deemed to entitle the US Borrower or any other Loan Party to any future consent to, or waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Loan Document in similar or different circumstances.  After the date hereof, any reference in the Loan Documents to the Credit Agreement shall mean the Credit Agreement as modified hereby.  This Amendment shall constitute a “Loan Document” for all purposes of the Credit Agreement and the other Loan Documents.

SECTION 6.  Applicable Law; Submission to Jurisdiction and Waivers; Waiver of Jury Trial.  (a)  THIS AMENDMENT AND ANY DISPUTE, CLAIM OR CONTROVERSY ARISING OUT OF OR RELATING TO THIS AMENDMENT (WHETHER ARISING IN CONTRACT, TORT OR OTHERWISE) SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICTS OF LAW RULES THAT WOULD RESULT IN THE APPLICATION OF A DIFFERENT GOVERNING LAW.

(b)EACH PARTY HERETO HEREBY AGREES AS SET FORTH IN SECTIONS 9.13 AND 9.16 OF THE CREDIT AGREEMENT AS IF SUCH SECTIONS WERE SET FORTH IN FULL HEREIN.

SECTION 7.  Counterparts; Amendment.  This Amendment may be executed by one or more of the parties to this Amendment on any number of separate counterparts (including 

7

by facsimile or other electronic means), and all of said counterparts taken together shall be deemed to constitute one and the same instrument.  Delivery of an executed signature page of this Amendment by facsimile or other electronic transmission (e.g. “pdf” or “tif” format) shall be effective as delivery of a manually executed counterpart hereof.  This Amendment may not be amended nor may any provision hereof be waived except pursuant to a writing signed by each Borrower, the Administrative Agent and the Required Lenders.

SECTION 8.  Fee; Expenses.  (a)  The US Borrower hereby agrees to pay to the Administrative Agent, for the account of each Lender that returns a copy of this Amendment duly executed by such Lender prior to 5:00 p.m., New York City time, on December 4, 2018, an amendment fee (the “Amendment Fee”) equal to 0.125% of the sum of (i) the aggregate principal amount of the Term Loans of such Lender and (ii) the aggregate amount of the Revolving Commitments of such Lender, in each case immediately prior to the Amendment Effective Date.  The Amendment Fee will be paid in immediately available funds on, and subject to the occurrence of, the Amendment Effective Date and shall not be refundable.

(b)The US Borrower hereby agrees to reimburse the Administrative Agent for its reasonable out-of-pocket expenses in connection with this Amendment to the extent required under Section 9.05 of the Credit Agreement.

SECTION 9.  Headings.  The Section headings used in this Amendment are for convenience of reference only and are not to affect the construction hereof or be taken into consideration in the interpretation hereof.

[Signature Pages Follow]

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their respective authorized officers as of the day and year first written above.

	
		
	COMPASS MINERALS INTERNATIONAL, INC.

	By

	 
	/s/ James D. Standen

	 
	Name: James D. Standen

	 
	Title: Chief Financial Officer

	
		
	COMPASS MINERALS CANADA CORP.

	By

	 
	/s/ James D. Standen

	 
	Name: James D. Standen

	 
	Title:  Chief Financial Officer and Treasurer 

	
		
	COMPASS MINERALS UK LIMITED

	By

	 
	/s/ Richard Thomson

	 
	Name: Richard Thomson

	 
	Title: Director and Secretary

[Compass - Amendment No. 3 Signature Page]

	
		
	JPMORGAN CHASE BANK, N.A., in its respective capacities as Administrative Agent, a Revolving Lender and a Term Lender

	By

	 
	/s/ Kathrine L. Hurley

	 
	Name: Kathrine L. Hurley

	 
	Title: Vice President

	 
	 

	 
	 

[Compass - Amendment No. 3 Signature Page]

LENDER SIGNATURE PAGE TO THE AMENDMENT NO. 3 TO THE CREDIT AGREEMENT DATED AS OF APRIL 20, 2016 (AS AMENDED), AMONG COMPASS MINERALS INTERNATIONAL, INC., COMPASS MINERALS CANADA CORP., COMPASS MINERALS UK LIMITED, THE SEVERAL BANKS AND OTHER FINANCIAL INSTITUTIONS OR ENTITIES FROM TIME TO TIME PARTY THERETO AND JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT

	
	
	ING Capital LLC

	
		
	 

	By:
	/s/ Remko Van de Water

	 
	Name:  Remko Van de Water

	 
	Title:  Managing Director

	
		
	 

	By:
	/s/ Remco Meeuwis

	 
	Name:  Remco Meeuwis

	 
	Title:  Director

[Compass - Amendment No. 3 Signature Page]

LENDER SIGNATURE PAGE TO THE AMENDMENT NO. 3 TO THE CREDIT AGREEMENT DATED AS OF APRIL 20, 2016 (AS AMENDED), AMONG COMPASS MINERALS INTERNATIONAL, INC., COMPASS MINERALS CANADA CORP., COMPASS MINERALS UK LIMITED, THE SEVERAL BANKS AND OTHER FINANCIAL INSTITUTIONS OR ENTITIES FROM TIME TO TIME PARTY THERETO AND JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT

	
	
	BRANCH BANKING AND TRUST COMPANY

	Lender Name

	
		
	 

	By:
	/s/ John P. Malloy

	 
	Name:  John P. Malloy

	 
	Title:  Senior Vice President

[Compass - Amendment No. 3 Signature Page]

LENDER SIGNATURE PAGE TO THE AMENDMENT NO. 3 TO THE CREDIT AGREEMENT DATED AS OF APRIL 20, 2016 (AS AMENDED), AMONG COMPASS MINERALS INTERNATIONAL, INC., COMPASS MINERALS CANADA CORP., COMPASS MINERALS UK LIMITED, THE SEVERAL BANKS AND OTHER FINANCIAL INSTITUTIONS OR ENTITIES FROM TIME TO TIME PARTY THERETO AND JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT

	
	
	PNC Bank, National Association

	
		
	 

	By:
	/s/ Matt Corcoran

	 
	Name:  Matt Corcoran

	 
	Title:  Senior Vice President

	
	
	For Lenders that require an additional signature:

	
		
	 

	By:
	 

	 
	Name:  

	 
	Title:  

[Compass - Amendment No. 3 Signature Page]

LENDER SIGNATURE PAGE TO THE AMENDMENT NO. 3 TO THE CREDIT AGREEMENT DATED AS OF APRIL 20, 2016 (AS AMENDED), AMONG COMPASS MINERALS INTERNATIONAL, INC., COMPASS MINERALS CANADA CORP., COMPASS MINERALS UK LIMITED, THE SEVERAL BANKS AND OTHER FINANCIAL INSTITUTIONS OR ENTITIES FROM TIME TO TIME PARTY THERETO AND JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT

	
	
	Bank of America, N.A.

	Lender Name

	
		
	 

	By:
	/s/ Alok Jain

	 
	Name:  Alok Jain

	 
	Title:  Senior Vice President

	
	
	For Lenders that require an additional signature:

	
		
	 

	By:
	 

	 
	Name:  

	 
	Title:  

[Compass - Amendment No. 3 Signature Page]

LENDER SIGNATURE PAGE TO THE AMENDMENT NO. 3 TO THE CREDIT AGREEMENT DATED AS OF APRIL 20, 2016 (AS AMENDED), AMONG COMPASS MINERALS INTERNATIONAL, INC., COMPASS MINERALS CANADA CORP., COMPASS MINERALS UK LIMITED, THE SEVERAL BANKS AND OTHER FINANCIAL INSTITUTIONS OR ENTITIES FROM TIME TO TIME PARTY THERETO AND JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT

	
	
	U.S. Bank National Association

	Lender Name

	
		
	 

	By:
	/s/ Tim Landro

	 
	Name:  Tim Landro

	 
	Title:   Vice President

[Compass - Amendment No. 3 Signature Page]

LENDER SIGNATURE PAGE TO THE AMENDMENT NO. 3 TO THE CREDIT AGREEMENT DATED AS OF APRIL 20, 2016 (AS AMENDED), AMONG COMPASS MINERALS INTERNATIONAL, INC., COMPASS MINERALS CANADA CORP., COMPASS MINERALS UK LIMITED, THE SEVERAL BANKS AND OTHER FINANCIAL INSTITUTIONS OR ENTITIES FROM TIME TO TIME PARTY THERETO AND JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT

	
	
	COÖPERATIVE RABOBANK U.A.,
NEW YORK BRANCH

	Lender Name

	
		
	 

	By:
	/s/ Timothy Devane

	 
	Name:  Timothy Devane

	 
	Title:  Executive Director

	
	
	For Lenders that require an additional signature:

	
		
	 

	By:
	/s/ Pacella Lehane

	 
	Name: Pacella Lehane

	 
	Title:  Vice President 

[Compass - Amendment No. 3 Signature Page]

LENDER SIGNATURE PAGE TO THE AMENDMENT NO. 3 TO THE CREDIT AGREEMENT DATED AS OF APRIL 20, 2016 (AS AMENDED), AMONG COMPASS MINERALS INTERNATIONAL, INC., COMPASS MINERALS CANADA CORP., COMPASS MINERALS UK LIMITED, THE SEVERAL BANKS AND OTHER FINANCIAL INSTITUTIONS OR ENTITIES FROM TIME TO TIME PARTY THERETO AND JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT

	
	
	GOLDMAN SACHS LENDING PARTNERS LLC

	Lender Name

	
		
	 

	By:
	/s/ Jamie Minieri 

	 
	Name:  Jamie Minieri 

	 
	Title:  Authorized Signatory

[Compass - Amendment No. 3 Signature Page]

LENDER SIGNATURE PAGE TO THE AMENDMENT NO. 3 TO THE CREDIT AGREEMENT DATED AS OF APRIL 20, 2016 (AS AMENDED), AMONG COMPASS MINERALS INTERNATIONAL, INC., COMPASS MINERALS CANADA CORP., COMPASS MINERALS UK LIMITED, THE SEVERAL BANKS AND OTHER FINANCIAL INSTITUTIONS OR ENTITIES FROM TIME TO TIME PARTY THERETO AND JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT

	
	
	The Bank of Nova Scotia

	
		
	 

	By:
	/s/ Paula Czach

	 
	Name:  Paula Czach

	 
	Title:   Managing Director

[Compass - Amendment No. 3 Signature Page]

LENDER SIGNATURE PAGE TO THE AMENDMENT NO. 3 TO THE CREDIT AGREEMENT DATED AS OF APRIL 20, 2016 (AS AMENDED), AMONG COMPASS MINERALS INTERNATIONAL, INC., COMPASS MINERALS CANADA CORP., COMPASS MINERALS UK LIMITED, THE SEVERAL BANKS AND OTHER FINANCIAL INSTITUTIONS OR ENTITIES FROM TIME TO TIME PARTY THERETO AND JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT

	
	
	Bank of Montreal

	Lender Name

	
		
	 

	By:
	/s/ Joshua Hovermale

	 
	Name:  Joshua Hovermale

	 
	Title:    Director

[Compass - Amendment No. 3 Signature Page]

LENDER SIGNATURE PAGE TO THE AMENDMENT NO. 3 TO THE CREDIT AGREEMENT DATED AS OF APRIL 20, 2016 (AS AMENDED), AMONG COMPASS MINERALS INTERNATIONAL, INC., COMPASS MINERALS CANADA CORP., COMPASS MINERALS UK LIMITED, THE SEVERAL BANKS AND OTHER FINANCIAL INSTITUTIONS OR ENTITIES FROM TIME TO TIME PARTY THERETO AND JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT

	
	
	Wells Fargo Bank, N.A.

	Lender Name

	
		
	 

	By:
	/s/ Timothy Ross

	 
	Name:  Timothy Ross

	 
	Title:   Vice President

[Compass - Amendment No. 3 Signature Page]

LENDER SIGNATURE PAGE TO THE AMENDMENT NO. 3 TO THE CREDIT AGREEMENT DATED AS OF APRIL 20, 2016 (AS AMENDED), AMONG COMPASS MINERALS INTERNATIONAL, INC., COMPASS MINERALS CANADA CORP., COMPASS MINERALS UK LIMITED, THE SEVERAL BANKS AND OTHER FINANCIAL INSTITUTIONS OR ENTITIES FROM TIME TO TIME PARTY THERETO AND JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT

	
	
	BOKF N.A.

	Lender Name

	
		
	 

	By:
	/s/ Ryan W. Humphrey

	 
	Name:  Ryan W. Humphrey

	 
	Title:    Vice President 

	
	
	For Lenders that require an additional signature:

	
		
	 

	By:
	 

	 
	Name:  

	 
	Title:  

[Compass - Amendment No. 3 Signature Page]

LENDER SIGNATURE PAGE TO THE AMENDMENT NO. 3 TO THE CREDIT AGREEMENT DATED AS OF APRIL 20, 2016 (AS AMENDED), AMONG COMPASS MINERALS INTERNATIONAL, INC., COMPASS MINERALS CANADA CORP., COMPASS MINERALS UK LIMITED, THE SEVERAL BANKS AND OTHER FINANCIAL INSTITUTIONS OR ENTITIES FROM TIME TO TIME PARTY THERETO AND JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT

	
	
	Llyods Bank Corporate Markets plc

	Lender Name

	
		
	 

	By:
	/s/ Erin Walsh 

	 
	Name:  Erin Walsh

	 
	Title:    Assistant Vice President 

	 
	Transaction Execution

	 
	Category A

	 
	W004

	
		
	 

	By:
	/s/ Daven Popat

	 
	Name:  Daven Popat

	 
	Title:    Senior Vice President

	 
	Transaction Execution

	 
	Category A

	 
	P003

[Compass - Amendment No. 3 Signature Page]

LENDER SIGNATURE PAGE TO THE AMENDMENT NO. 3 TO THE CREDIT AGREEMENT DATED AS OF APRIL 20, 2016 (AS AMENDED), AMONG COMPASS MINERALS INTERNATIONAL, INC., COMPASS MINERALS CANADA CORP., COMPASS MINERALS UK LIMITED, THE SEVERAL BANKS AND OTHER FINANCIAL INSTITUTIONS OR ENTITIES FROM TIME TO TIME PARTY THERETO AND JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT

	
	
	Morgan Stanley Bank North America

	Lender Name

	
		
	 

	By:
	/s/ Jake Dowden

	 
	Name:  Jake Dowden 

	 
	Title:    Authorized Signatory 

	
	
	For Lenders that require an additional signature:

	
		
	 

	By:
	 

	 
	Name:  

	 
	Title:  

[Compass - Amendment No. 3 Signature Page]

LENDER SIGNATURE PAGE TO THE AMENDMENT NO. 3 TO THE CREDIT AGREEMENT DATED AS OF APRIL 20, 2016 (AS AMENDED), AMONG COMPASS MINERALS INTERNATIONAL, INC., COMPASS MINERALS CANADA CORP., COMPASS MINERALS UK LIMITED, THE SEVERAL BANKS AND OTHER FINANCIAL INSTITUTIONS OR ENTITIES FROM TIME TO TIME PARTY THERETO AND JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT

	
	
	Fifth Third Bank

	Lender Name

	
		
	 

	By:
	/s/ Lafayette J. Ford

	 
	Name:  Lafayette J. Ford 

	 
	Title:    Director 

	
	
	For Lenders that require an additional signature:

	
		
	 

	By:
	 

	 
	Name:  

	 
	Title:  

[Compass - Amendment No. 3 Signature Page]

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