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EXHIBIT 10.1

FIRST AMENDMENT TO REVOLVING CREDIT AGREEMENT

THIS FIRST AMENDMENT TO REVOLVING CREDIT AGREEMENT (this “Amendment”), is made and entered into as of December 11, 2020, by and among HEICO CORPORATION, a Florida corporation (the “Borrower”), the several banks and other financial institutions from time to time party hereto (collectively, the “Lenders”) and TRUIST BANK (as successor by merger to SUNTRUST BANK), in its capacity as Administrative Agent for the Lenders (the “Administrative Agent”), as issuing bank (the “Issuing Bank”) and as swingline lender (the “Swingline Lender”).

W I T N E S S E T H:

WHEREAS, the Borrower, the Lenders and the Administrative Agent are parties to a certain Revolving Credit Agreement, dated as of November 6, 2017 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”; capitalized terms used herein and not otherwise defined shall have the meanings assigned to such terms in the Credit Agreement), pursuant to which the Lenders have made certain financial accommodations available to the Borrower; 
WHEREAS, the Borrower has requested that the Lenders and the Administrative Agent (i) extend the maturity date until November 6, 2023 pursuant to Section 2.16 of the Credit Agreement, (ii) increase the Aggregate Revolving Commitment Amount from $1,300,000,000 to $1,500,000,000 pursuant to Section 2.15 of the Credit Agreement (the “2020 Commitment Increase”) and (iii) amend certain other provisions of the Credit Agreement, and subject to the terms and conditions hereof, the Administrative Agent and the Lenders party hereto are willing to do so as hereinafter set forth; 
NOW, THEREFORE, for good and valuable consideration, the sufficiency and receipt of all of which are acknowledged, the Borrower, the Lenders party hereto and the Administrative Agent agree as follows:
1.Amendment.    
    (a)    The following definitions contained in Section 1.01 of the Credit Agreement are hereby replaced in their entirety with the following definition:
“Bail-In Legislation” means (a) with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law, regulation or requirement for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule and (b) with respect to the United Kingdom, Part I of the United Kingdom Banking Act 2009 (as amended from time to time) and any other law, regulation or rule applicable in the United Kingdom relating to the resolution of unsound or failing banks, investment firms or other financial institutions or their affiliates (other than through liquidation, administration or other insolvency proceedings).
“Maturity Date” means (a) (i) November 6, 2023, with respect to each Extending Lender or (ii) November 6, 2022, with respect to any Declining Lender, (b) such earlier date upon which the Commitments are terminated in accordance with the terms hereof or (c) solely with respect to any Commitment extended pursuant to Section 2.16, such later date as such Commitment is so extended.

“Write-Down and Conversion Powers” means (a) with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule and (b) with respect to the United Kingdom, any powers of the applicable Resolution Authority under the Bail-In Legislation to cancel, reduce, modify or change the form of a liability of any UK Financial Institution or any contract or instrument under which that liability arises, to convert all or part of that liability into shares, securities or obligations of that person or any other person, to provide that any such contract or instrument is to have effect as if a right had been exercised under it or to suspend any obligation in respect of that liability or any of the powers under that Bail-In Legislation that are related to or ancillary to any of those powers.
(b)    Section 1.01 of the Credit Agreement is updated by adding the following definition in the appropriate alphabetical order:
“Benchmark Replacement” means the sum of: (a) the alternate benchmark rate (which may include Term SOFR) that has been selected by the Administrative Agent and the Borrower giving due consideration to (i) any selection or recommendation of a replacement rate or the mechanism for determining such a rate by the Relevant Governmental Body or (ii) any evolving or then-prevailing market convention for determining a rate of interest as a replacement to the Eurocurrency Rate for U.S. dollar-denominated syndicated credit facilities and (b) the Benchmark Replacement Adjustment; provided that, if the Benchmark Replacement as so determined would be less than zero, the Benchmark Replacement will be deemed to be zero for the purposes of this Agreement.
“Benchmark Replacement Adjustment” means, with respect to any replacement of the Eurocurrency Rate with an Unadjusted Benchmark Replacement for each applicable Interest Period, the spread adjustment, or method for calculating or determining such spread adjustment, (which may be a positive or negative value or zero) that has been selected by the Administrative Agent and the Borrower giving due consideration to (i) any selection or recommendation of a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of the Eurocurrency Rate with the applicable Unadjusted Benchmark Replacement by the Relevant Governmental Body or (ii) any evolving or then-prevailing market convention for determining a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of the Eurocurrency Rate with the applicable Unadjusted Benchmark Replacement for U.S. dollar-denominated syndicated credit facilities at such time.
“Benchmark Replacement Conforming Changes” means, with respect to any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition of “Base Rate,” the definition of “Interest Period,” timing and frequency of determining rates and making payments of interest and other administrative matters) that the Administrative Agent decides may be appropriate to reflect the adoption and implementation of such Benchmark Replacement and to permit the administration thereof by the Administrative Agent in a manner substantially consistent with market practice (or, if the Administrative Agent decides that adoption of any portion of such market practice is not administratively feasible or if the Administrative Agent determines that no market practice for the administration of the Benchmark Replacement exists, in such other manner of administration as the 

Administrative Agent decides is reasonably necessary in connection with the administration of this Agreement).
“Benchmark Replacement Date” means the earlier to occur of the following events with respect to the Eurocurrency Rate: 
(1)in the case of clause (1) or (2) of the definition of “Benchmark Transition Event,” the later of (a) the date of the public statement or publication of information referenced therein and (b) the date on which the administrator of the Eurocurrency Rate permanently or indefinitely ceases to provide the Eurocurrency Rate; or 
(2)in the case of clause (3) of the definition of “Benchmark Transition Event,” the date of the public statement or publication of information referenced therein.
“Benchmark Transition Event” means the occurrence of one or more of the following events with respect to the Eurocurrency Rate: 
(1)a public statement or publication of information by or on behalf of the administrator of the Eurocurrency Rate announcing that such administrator has ceased or will cease to provide the Eurocurrency Rate, permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide the Eurocurrency Rate;  
(2)a public statement or publication of information by the regulatory supervisor for the administrator of the Eurocurrency Rate, the U.S. Federal Reserve System, an insolvency official with jurisdiction over the administrator for the Eurocurrency Rate, a resolution authority with jurisdiction over the administrator for the Eurocurrency Rate, or a court or an entity with similar insolvency or resolution authority over the administrator for the Eurocurrency Rate, which states that the administrator of the Eurocurrency Rate has ceased or will cease to provide the Eurocurrency Rate permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide the Eurocurrency Rate; or
(3)a public statement or publication of information by the regulatory supervisor for the administrator of the Eurocurrency Rate announcing that the Eurocurrency Rate is no longer representative.
“Benchmark Transition Start Date” means (a) in the case of a Benchmark Transition Event, the earlier of (i) the applicable Benchmark Replacement Date and (ii) if such Benchmark Transition Event is a public statement or publication of information of a prospective event, the 90th day prior to the expected date of such event as of such public statement or publication of information (or if the expected date of such prospective event is fewer than 90 days after such statement or publication, the date of such statement or publication) and (b) in the case of an Early Opt-in Election, the date specified by the Administrative Agent or the Required Lenders, as applicable, by notice to the Borrower, 

the Administrative Agent (in the case of such notice by the Required Lenders) and the Lenders.
“Benchmark Unavailability Period” means, if a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to the Eurocurrency Rate and solely to the extent that the Eurocurrency Rate has not been replaced with a Benchmark Replacement, the period (x) beginning at the time that such Benchmark Replacement Date has occurred if, at such time, no Benchmark Replacement has replaced the Eurocurrency Rate for all purposes hereunder in accordance with Section 3.03(a)-(d) and (y) ending at the time that a Benchmark Replacement has replaced the Eurocurrency Rate for all purposes hereunder pursuant to Section 3.03(a)-(d).
“Benefit Plan” means any of (a) an “employee benefit plan” (as defined in ERISA) that is subject to Title I of ERISA, (b) a “plan” as defined in and subject to Section 4975 of the Code or (c) any person whose assets include (for purposes of ERISA Section 3(42) or otherwise for purposes of Title I of ERISA or Section 4975 of the Code) the assets of any such “employee benefit plan” or “plan”.
“BHC Act Affiliate” has the meaning set forth in Section 10.29(b). 
“Covered Entity” has the meaning set forth in Section 10.29(b). 
“Default Right” has the meaning set forth in Section 10.29(b). 
“Early Opt-in Election” means the occurrence of: 
(1)(i) a determination by the Administrative Agent or (ii) a notification by the Required Lenders to the Administrative Agent (with a copy to the Borrower) that the Required Lenders have determined that U.S. dollar-denominated syndicated credit facilities being executed at such time, or that include language similar to that contained in Section 3.03(a)-(d) are being executed or amended, as applicable, to incorporate or adopt a new benchmark interest rate to replace the Eurocurrency Rate, and
(2)(i) the election by the Administrative Agent or (ii) the election by the Required Lenders to declare that an Early Opt-in Election has occurred and the provision, as applicable, by the Administrative Agent of written notice of such election to the Borrower and the Lenders or by the Required Lenders of written notice of such election to the Administrative Agent.
“First Amendment Effective Date” means December 11, 2020.
“PTE” means a prohibited transaction class exemption issued by the U.S. Department of Labor, as any such exemption may be amended from time to time.
“Relevant Governmental Body” means the Federal Reserve Board and/or the Federal Reserve Bank of New York, or a committee officially endorsed or convened by the Federal Reserve Board and/or the Federal Reserve Bank of New York or any successor thereto.

“SOFR” with respect to any day means the secured overnight financing rate published for such day by the Federal Reserve Bank of New York, as the administrator of the benchmark, (or a successor administrator) on the Federal Reserve Bank of New York’s Website.
“Term SOFR” means the forward-looking term rate based on SOFR that has been selected or recommended by the Relevant Governmental Body.
“Unadjusted Benchmark Replacement” means the Benchmark Replacement excluding the Benchmark Replacement Adjustment.
(c)    Section 2.15(a) of the Credit Agreement is hereby amended by changing “$350,000,000” to “$550,000,000” and by changing “$1,650,000,000” to “$1,850,000,000”. 
(d)    Section 3.03 of the Credit Agreement is hereby amended by adding new clauses (a) through (d) to the end of such Section to read as follows:
(a)Notwithstanding anything to the contrary herein or in any other Loan  Document, upon the occurrence of a Benchmark Transition Event or an Early Opt-in Election, as applicable, the Administrative Agent and the Borrower may amend this Agreement to replace the Eurocurrency Rate with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all Lenders and the Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Lenders comprising the Required Lenders. Any such amendment with respect to an Early Opt-in Election will become effective on the date that Lenders comprising the Required Lenders have delivered to the Administrative Agent written notice that such Required Lenders accept such amendment. No replacement of the Eurocurrency Rate with a Benchmark Replacement pursuant to these provisions will occur prior to the applicable Benchmark Transition Start Date.
(b)In connection with the implementation of a Benchmark Replacement, the Administrative Agent will have the right to make Benchmark Replacement Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Benchmark Replacement Conforming Changes will become effective without any further action or consent of any other party to this Agreement.
(c)The Administrative Agent will promptly notify the Borrower and the Lenders of (i) any occurrence of a Benchmark Transition Event or an Early Opt-in Election, as applicable, and its related Benchmark Replacement Date and Benchmark Transition Start Date, (ii) the implementation of any Benchmark Replacement, (iii) the effectiveness of any Benchmark Replacement Conforming Changes and (iv) the commencement or conclusion of any Benchmark Unavailability Period. Any determination, decision or election that may be made by the Administrative Agent or Lenders pursuant to this Section 3.03(a)-(d), including any determination with respect to a tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action, will be conclusive and binding absent manifest error and may be made in its or their sole discretion and without consent from any other party hereto, except, in each case, as expressly required pursuant to this Section 3.03(a)-(d).

(d)Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any request for a Eurocurrency Borrowing of, conversion to or continuation of Eurocurrency Rate Loans to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Borrowing of or conversion to Base Rate Loans. During any Benchmark Unavailability Period, the component of Base Rate based upon the Eurocurrency Rate will not be used in any determination of Base Rate. 
(e)    Section 10.27 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:
10.27    Acknowledgement and Consent to Bail-In of EEA Financial Institutions.  Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any EEA Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the write-down and conversion powers of the applicable Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by:
(a)    the application of any Write-Down and Conversion Powers by the applicable Resolution Authority to any such liabilities arising hereunder which may be payable to it by any party hereto that is an EEA Financial Institution; and
(b)    the effects of any Bail-in Action on any such liability, including, if applicable (i) a reduction in full or in part or cancellation of any such liability, (ii) a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEA Financial Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under this Agreement or any other Loan Document or (iii) the variation of the terms of such liability in connection with the exercise of the write-down and conversion powers of the applicable Resolution Authority. 
(f)     A new section 10.28 is hereby added to the Credit Agreement to read as follows:  
10.28    Certain ERISA Matters.  
(a)  Each Lender (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent and not, for the avoidance of doubt, to or for the benefit of the Borrower or any other Subsidiary, that at least one of the following is and will be true:
(i)such Lender is not using “plan assets” (within the meaning of Section 3(42) of ERISA or otherwise) of one or more Benefit Plans with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments or this Agreement,
(ii)the transaction exemption set forth in one or more PTEs, such as PTE 84-14 (a class exemption for certain transactions determined by independent qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions involving insurance company general accounts), PTE 90-1 (a class 

exemption for certain transactions involving insurance company pooled separate accounts), PTE 91-38 (a class exemption for certain transactions involving bank collective investment funds) or PTE 96-23 (a class exemption for certain transactions determined by in-house asset managers), is applicable with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement,
(iii)(A) such Lender is an investment fund managed by a “Qualified Professional Asset Manager” (within the meaning of Part VI of PTE 84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to enter into, participate in, administer and perform the Loans, the Letters of Credit, the Commitments and this Agreement, (C) the entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement satisfies the requirements of sub-sections (b) through (g) of Part I of PTE 84-14 and (D) to the best knowledge of such Lender, the requirements of subsection (a) of Part I of PTE 84-14 are satisfied with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement, or
(iv)such other representation, warranty and covenant as may be agreed in writing between the Administrative Agent, in its sole discretion, and such Lender.
(b)  In addition, unless either (1) sub-clause (i) in the immediately preceding clause (a) is true with respect to a Lender or (2) a Lender has provided another representation, warranty and covenant in accordance with sub-clause (iv) in the immediately preceding clause (a), such Lender further (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent and not, for the avoidance of doubt, to or for the benefit of the Borrower or any other Subsidiary, that the Administrative Agent is not a fiduciary with respect to the assets of such Lender involved in such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement (including in connection with the reservation or exercise of any rights by the Administrative Agent under this Agreement, any Loan Document or any documents related hereto or thereto).
(g)    A new section 10.29 is hereby added to the Credit Agreement to read as follows:  
10.29 Acknowledgement Regarding Any Supported QFCs. To the extent that the Loan Documents provide support, through a guarantee or otherwise, for any Hedging Arrangements or any other agreement or instrument that is a QFC (such support, “QFC Credit Support”, and each such QFC, a “Supported QFC”), the parties acknowledge and agree as follows with respect to the resolution power of the Federal Deposit Insurance Corporation under the Federal Deposit Insurance Act and Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act (together with the regulations promulgated thereunder, the “U.S. Special Resolution Regimes”) in respect of such Supported QFC and QFC Credit Support (with the provisions below applicable notwithstanding that the Loan Documents and any Supported QFC may in fact be stated to be governed by the laws of the State of New York and/or of the United States or any other state of the United States): 

(a)          In the event a Covered Entity that is party to a Supported QFC (each, a “Covered Party”) becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer of such Supported QFC and the benefit of such QFC Credit Support (and any interest and obligation in or under such Supported QFC and such QFC Credit Support, and any rights in property securing such Supported QFC or such QFC Credit Support) from such Covered Party will be effective to the same extent as the transfer would be effective under the U.S. Special Resolution Regime if the Supported QFC and such QFC Credit Support (and any such interest, obligation and rights in property) were governed by the laws of the United States or a state of the United States. In the event a Covered Party or a BHC Act Affiliate of a Covered Party becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under the Loan Documents that might otherwise apply to such Supported QFC or any QFC Credit Support that may be exercised against such Covered Party are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if the Supported QFC and the Loan Documents were governed by the laws of the United States or a state of the United States. Without limitation of the foregoing, it is understood and agreed that rights and remedies of the parties with respect to a Defaulting Lender shall in no event affect the rights of any Covered Party with respect to a Supported QFC or any QFC Credit Support.“
(b)          As used in this Section 10.29, the following terms have the following meanings:
“BHC Act Affiliate” of a party means an “affiliate” (as such term is defined under, and interpreted in accordance with, 12 U.S.C. 1841(k)) of such party.
“Covered Entity” means any of the following:  (i) a “covered entity” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 252.82(b); (ii) a “covered bank” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 47.3(b); or (iii) a “covered FSI” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 382.2(b).
“Default Right” has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.
(h)    Schedule 2.01 of the Credit Agreement is updated by replacing such Schedule in its entirety with Schedule 2.01 attached hereto.  
2.Commitment Increase.
    (a)    Each of the undersigned Lenders with a positive amount in the “Commitment Increase” column on Schedule 2.01 (the “Increasing Lenders”) hereby agrees to increase the amount of its Commitment by the amount shown in such column.  
    (b)    Each of the undersigned Lenders further acknowledges and agrees that in the “Commitment, Post Amendment” column on Schedule 2.01 sets forth its Commitment under the Credit Agreement immediately after giving effect to this Amendment.
    (c)    On the First Amendment Effective Date, (i) all applicable Obligations shall be amended and modified as provided herein, (ii) the Commitments of each of the Lenders shall be reallocated among the Lenders in accordance with their respective Commitments, as set forth opposite such Lender’s name on Schedule 2.01 attached hereto under the heading “Commitment, Post Amendment”, and in order to effect such reallocations, all requisite assignments shall be deemed to be made in amounts from each Lender to each Lender, with the same force and effect as if such assignments were evidenced by an 

Assignment and Acceptance but without the payment of any related assignment fee, and no other documents or instruments shall be, or shall be required to be, executed in connection with such assignments (all of which such requirements are hereby waived), and (iii) each assignee Lender shall make full cash settlement with each corresponding assignor Lender, through the Administrative Agent, as the Administrative Agent may direct (after giving effect to any netting effected by the Administrative Agent) with respect to all such assignments and reallocations.   
3.Certain Other Agreements. 
(a)The increase in the Commitments of any Lender under this Amendment is made pursuant to Section 2.15 or 2.16 of the Credit Agreement, as applicable, and this Amendment constitutes the supplement to the Credit Agreement contemplated pursuant to Section 2.15(c) or 2.16(b) of the Credit Agreement, as applicable, in connection with such increase.  Each of the undersigned Lenders waives any notices and time periods that may be required under Section 2.15 or 2.16 of the Credit Agreement, as applicable, in connection with the increase of the Commitments contemplated hereby.     
4.Conditions to Effectiveness of this Amendment. Notwithstanding any other provision of this Amendment and without affecting in any manner the rights of the Lenders hereunder, it is understood and agreed that this Amendment shall not become effective, and the Borrower shall have no rights under this Amendment, until the Administrative Agent shall have received (i) such fees as the Borrower has previously agreed to pay the Administrative Agent or any of its affiliates or to the Administrative Agent for the benefit of the Increasing Lenders in connection with this Amendment, (ii) reimbursement or payment of the costs and expenses of the Administrative Agent incurred in connection with this Amendment or the Credit Agreement (including reasonable fees, charges and disbursements of King & Spalding LLP, counsel to the Administrative Agent), and (iii) each of the following documents:
    (a)     executed counterparts to this Amendment from the Borrower, each Subsidiary party hereto and the Lenders providing the 2020 Commitment Increase;
(b)    a certificate of the Secretary or Assistant Secretary of the Borrower and each Subsidiary party hereto, attaching and certifying copies of resolutions of its board of directors, authorizing the execution, delivery and performance of this Amendment, certifying the name, title and true signature of each officer of the Borrower or Subsidiaries, as applicable, executing this Amendment and confirming that the articles of incorporation and bylaws have not changed since the Closing Date; 
    (c)    a favorable written opinion of counsel to the Borrower, addressed to the Administrative Agent, the Issuing Bank and each of the Lenders, and covering such matters relating to the Loan Parties, this Amendment and the transactions contemplated herein as the Administrative Agent shall reasonably request; 
    (d)    certificates of good standing or existence, as may be available from the Secretary of State of the jurisdiction of organization of the Borrower and each Subsidiary party hereto; and
    (e)    certified copies of all consents, approvals, authorizations, registrations and filings and orders, if any, required to be made or obtained under any Requirement of Law, or by any material Contractual Obligation of the Borrower and each Subsidiary party hereto, in connection with the execution, delivery, performance, validity and enforceability of this Amendment or any of the transactions contemplated hereby, and such consents, approvals, authorizations, registrations, filings and orders shall be in full force and effect and all applicable waiting periods 

shall have expired, and no investigation or inquiry by any Governmental Authority related thereto shall be ongoing.
5.Representations and Warranties.  To induce the Lenders and the Administrative Agent to enter into this Amendment, the Borrower and each Subsidiary party hereto hereby represents and warrants to the Lenders and the Administrative Agent: 
(a)    The Borrower and each of its Subsidiaries party hereto (i) is duly organized, validly existing and in good standing as a corporation, partnership or limited liability company under the laws of the jurisdiction of its organization, (ii) has all requisite power and authority to carry on its business as now conducted except where a failure to be so qualified could not reasonably be expected to result in a Material Adverse Effect, (iii) has all licenses and permits necessary to carry on and conduct its business in all states and localities wherein it now operates and (iv) is duly qualified to do business, and is in good standing, in each jurisdiction where such qualification is required, except where a failure to be so qualified could not reasonably be expected to result in a Material Adverse Effect;
(b)    The execution, delivery and performance by the Borrower and each Subsidiary party hereto of the Loan Documents to which it is a party are within such Borrower’s or Subsidiary’s, as applicable, organizational powers and have been duly authorized by all necessary organizational, and if required, shareholder, partner or member, action; 
(c)    The execution, delivery and performance by the Borrower and each Subsidiary party hereto of this Amendment and the other Loan Documents to which it is a party (i) do not require any consent or approval of, registration or filing with, or any action by, any Governmental Authority, except those as have been obtained or made and are in full force and effect, (ii) will not violate any Requirements of Law applicable to the Borrower or any of its Subsidiaries or any judgment, order or ruling of any Governmental Authority, (iii) will not violate or result in a default under any indenture, agreement or other instrument binding on the Borrower or any of its Subsidiaries or any of its assets or give rise to a right thereunder to require any payment to be made by the Borrower or any of its Subsidiaries and (iv) will not result in the creation or imposition of any Lien on any asset of the Borrower or any of its Subsidiaries, except Liens (if any) created under the Loan Documents;
(d)    This Amendment has been duly executed and delivered for the benefit of or on behalf of the Borrower and each Subsidiary party hereto and constitutes a valid and binding obligation of the Borrower and each Subsidiary party hereto enforceable against the Borrower and such Subsidiaries party hereto in accordance with its terms except as the enforceability hereof may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally and by general principles of equity; and
    (e)    Before and immediately after giving effect to this Amendment, all representations and warranties of the Borrower and each Subsidiary party hereto set forth in the Loan Documents (but excluding the representation set forth in Section 5.05(b)) are true and correct in all material respects.  No Default or Event of Default has occurred and is continuing as of the date hereof or would occur as after giving effect to this Amendment.  Since the date of the financial statements of the Borrower described in Section 5.05(a) of the Credit Agreement, there shall have been no change which has had or could reasonably be expected to have a Material Adverse Effect.
6.Reaffirmation.  Each Subsidiary party hereto consents to the execution and delivery by the Borrower of this Amendment and jointly and severally ratify and confirm the terms of the Subsidiary Guaranty Agreement with respect to the indebtedness now or hereafter outstanding under the Credit Agreement as amended hereby and all promissory notes issued thereunder. Each Subsidiary party hereto 

acknowledges that, notwithstanding anything to the contrary contained herein or in any other document evidencing any indebtedness of the Borrower to the Lenders or any other obligation of the Borrower, or any actions now or hereafter taken by the Lenders with respect to any obligation of the Borrower, the Subsidiary Guaranty Agreement (i) is and shall continue to be a primary obligation of the Subsidiary Loan Parties, (ii) is and shall continue to be an absolute, unconditional, joint and several, continuing and irrevocable guaranty of payment, and (iii) is and shall continue to be in full force and effect in accordance with its terms.  Nothing contained herein to the contrary shall release, discharge, modify, change or affect the original liability of the Subsidiary Loan Parties under the Subsidiary Guaranty Agreement.  Furthermore, the Borrower hereby ratifies the Credit Agreement and the other Loan Documents and acknowledges and reaffirms (a) that it is bound by all the terms of the Credit Agreement and the Loans Documents applicable to it and (b) that it is responsible for the observance and full performance of its respective Obligations. 
7.Effect of Amendment.  Except as set forth expressly herein, all terms of the Credit Agreement, as amended hereby, and the other Loan Documents shall be and remain in full force and effect and shall constitute the legal, valid, binding and enforceable obligations of the Borrower to the Lenders and the Administrative Agent.  The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of the Lenders under the Credit Agreement, nor constitute a waiver of any provision of the Credit Agreement.  This Amendment shall constitute a Loan Document for all purposes of the Credit Agreement.
8.Governing Law.   This Amendment shall be governed by, and construed in accordance with, the internal laws of the State of Florida and all applicable federal laws of the United States of America.
9.No Novation.  This Amendment is not intended by the parties to be, and shall not be construed to be, a novation of the Credit Agreement or an accord and satisfaction in regard thereto.
10.Costs and Expenses.  The Borrower agrees to pay on demand all reasonable, documented, out-of-pocket expenses of the Administrative Agent in connection with the preparation, execution and delivery of this Amendment, including, without limitation, the reasonable fees and out-of-pocket expenses of outside counsel for the Administrative Agent with respect thereto.
11.Counterparts.  This Amendment may be executed by one or more of the parties hereto in any number of separate counterparts, each of which shall be deemed an original and all of which, taken together, shall be deemed to constitute one and the same instrument.  Delivery of an executed counterpart of this Amendment by facsimile transmission or by electronic mail in pdf form shall be as effective as delivery of a manually executed counterpart hereof.
12.Binding Nature.  This Amendment shall be binding upon and inure to the benefit of the parties hereto, their respective successors, successors-in-titles, and assigns.
13.Entire Understanding.  This Amendment sets forth the entire understanding of the parties with respect to the matters set forth herein, and shall supersede any prior negotiations or agreements, whether written or oral, with respect thereto.

[Signature Pages To Follow]

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed, under seal in the case of the Borrower and the Subsidiary Loan Parties, by their respective authorized officers as of the day and year first above written.

                            BORROWER:

                            HEICO CORPORATION
                            
                            By: /s/ CARLOS L. MACAU, JR.
                                  Name:    Carlos L. Macau, Jr.
                                  Title:    Executive Vice President -
CFO and Treasurer
                            
SUBSIDIARY GUARANTORS:

    16-1741 Property, Inc.
3 McCrea Property Company, LLC
3D PLUS U.S.A., INC.
60 SEQUIN LLC
ACTION RESEARCH CORPORATION
AERODESIGN, INC.
AEROELT, LLC
AEROSPACE & COMMERCIAL TECHNOLOGIES, LLC
AIR COST CONTROL US, LLC
AIRCRAFT TECHNOLOGY, INC.
ANALOG MODULES, INC.
APEX HOLDING CORP.
APEX MICROTECHNOLOGY, INC.
ASTRO PROPERTY, LLC
ASTROSEAL PRODUCTS MFG. CORPORATION
BAY EQUIPMENT CORP.
BLUE AEROSPACE LLC
CARBON BY DESIGN LLC
CARBON BY DESIGN CORPORATION
CONNECTRONICS CORP.
CONXALL CORPORATION
CSI AEROSPACE, INC.
DB CONTROL CORP.
DECAVO LLC
DIELECTRIC SCIENCES, INC.
DUKANE SEACOM, INC.
ENGINEERING DESIGN TEAM, INC.
FUTURE AVIATION, INC.
HARTER AEROSPACE, LLC
HEICO AEROSPACE CORPORATION
HEICO AEROSPACE PARTS CORP.
[Signature Page to First Amendment to Revolving Credit Agreement]

HEICO EAST CORPORATION 
HEICO ELECTRONIC TECHNOLOGIES CORP.
HEICO Flight Support Corp.
HEICO PARTS GROUP, INC.
HEICO REPAIR GROUP AEROSTRUCTURES, LLC
HEICO REPAIR, LLC
HETC I, LLC
HETC II CORP.
HETC III, LLC
HETC IV, LLC
HFSC III CORP.
HFSC IV CORP.
HFSC V, LLC
HFSC VI, LLC
HNW BUILDING CORP.
HNW 2 BUILDING CORP.
HVT GROUP, INC.
INERTIAL AIRLINE SERVICES, INC.
INTERFACE DISPLAYS & CONROLS, INC.
IRCAMERAS LLC
JET AVION CORPORATION
JETSEAL, INC.
LEADER TECH, INC.
LLP ENTERPRISES, LLC
LPI INDUSTRIES CORPORATION 
LUCIX CORPORATION
LUMINA POWER, INC.
MCCLAIN INTERNATIONAL, INC.
MCCLAIN PROPERTY CORP.
MIDWEST MICROWAVE SOLUTIONS, INC.
NIACC-AVITECH TECHNOLOGIES INC.
NORTHWINGS ACCESSORIES CORPORATION
OPTICAL DISPLAY ENGINEERING, LLC
PRIME AIR, LLC 
QUELL CORPORATION
RADIANT POWER CORP.
RADIANT POWER IDC, LLC
RADIANT-SEACOM REPAIRS CORP.
RAMONA RESEARCH, INC.
REINHOLD HOLDINGS, INC.
REINHOLD INDUSTRIES, INC.
RESEARCH ELECTRONICS INTERNATIONAL, L.L.C.
ROBERTSON FUEL SYSTEMS, LLC
SANTA BARBARA INFRARED, INC.
SEAL DYNAMICS LLC 

[Signature Page to First Amendment to Revolving Credit Agreement]

SEAL Q CORP.
SENSOR TECHNOLOGY ENGINEERING, LLC
SIERRA MICROWAVE TECHNOLOGY, LLC
SOLID SEALING TECHNOLOGY, INC.
SPECIALITY SILICONE PRODUCTS, INC.
SUNSHINE AVIONICS LLC 
SWITCHCRAFT HOLDCO, INC.
SWITCHCRAFT, INC.
THERMAL ENERGY PRODUCTS, INC.
THERMAL STRUCTURES, INC.
TTT CUBED, INC.
TURBINE KINETICS, INC.

                            By: /s/ CARLOS L. MACAU, JR.
                                  Name:    Carlos L. Macau, Jr.
                                  Title:    Treasurer

HEICO AEROSPACE HOLDINGS CORP.

                            By: /s/ CARLOS L. MACAU, JR.
                                  Name:    Carlos L. Macau, Jr.
                                  Title:    Executive Vice President -
CFO

AEROANTENNA TECHNOLOGY, INC.
    
                            By: /s/ CARLOS L. MACAU, JR.
                                  Name:    Carlos L. Macau, Jr.
                                  Title:    Assistant Treasurer

[Signature Page to First Amendment to Revolving Credit Agreement]

                            LENDERS:

TRUIST BANK, as Administrative Agent and as a Lender

By: /s/ JONATHAN HART
Name: Jonathan Hart
Title: Vice President

[Signature Page to First Amendment to Revolving Credit Agreement]

WELLS FARGO BANK, NATIONAL ASSOCIATION, as a Lender

By: /s/ HENRY DEL CAMPO
Name: Henry Del Campo
Title: Senior Vice President

[Signature Page to First Amendment to Revolving Credit Agreement]

BANK OF AMERICA, N.A., as a Lender

By: /s/ JUNDIE CADIENA
Name: Jundie Cadiena
Title: Senior Vice President

[Signature Page to First Amendment to Revolving Credit Agreement]

PNC BANK, NATIONAL ASSOCIATION,     as a Lender

By: /s/ JAMES CULLEN
Name: James Cullen
Title: Senior Vice President

[Signature Page to First Amendment to Revolving Credit Agreement]

CAPITAL ONE, NATIONAL ASSOCIATION, as a Lender

By: /s/ WILLIAM PANAGIS
Name: William Panagis
Title:Vice President

[Signature Page to First Amendment to Revolving Credit Agreement]

U.S. Bank, National Association,
as a Lender

By: /s/ PAUL F. JOHNSON
Name: Paul F. Johnson
Title: Vice President

[Signature Page to First Amendment to Revolving Credit Agreement]

Fifth Third Bank, National
Association, as a Lender

By: /s/ VIVIAN A. PREMOCK
Name: Vivian A. Premock
Title: Senior Vice President

[Signature Page to First Amendment to Revolving Credit Agreement]

JPMorgan Chase Bank, N.A., as a
Lender

By: /s/ JONATHAN BENNETT
Name: Jonathan Bennett
Title: Executive Director

[Signature Page to First Amendment to Revolving Credit Agreement]

T.D. BANK, N.A., as a Lender

By: /s/ BERNADETTE COLLINS
Name: Bernadette Collins
Title: Senior Vice President

[Signature Page to First Amendment to Revolving Credit Agreement]

Citibank, N.A., as a Lender

By: /s/ STEPHEN J. WHITE
Name: Stephen J. White
Title: Senior Vice President

[Signature Page to First Amendment to Revolving Credit Agreement]

BANKUNITED, N.A., as a Lender

By: /s/ ROSHY RAJAN
Name: Roshy Rajan
Title: Vice President Corporate Banking

[Signature Page to First Amendment to Revolving Credit Agreement]

Synovus Bank, as a Lender

By: /s/ MICHAEL SAWICKI
Name: Michael Sawicki
Title: Director of Corporate Banking

[Signature Page to First Amendment to Revolving Credit Agreement]

IBERIABANK, a division of FIRST HORIZON Bank, successor-by-merger to IBERIABANK, successor-by-merger to SABADELL UNITED BANK, as a Lender

By: /s/ MARK S. LONG
Name: Mark S. Long
Title: Vice President

[Signature Page to First Amendment to Revolving Credit Agreement]

Schedule 2.01

COMMITMENT AMOUNTS

									
	Lender
	Commitment Increase
	Commitment, Post Amendment
	Truist Bank	-$15,000,000.00	$235,000,000.00
	Wells Fargo Bank, National Association	$25,000,000.00	$185,000,000.00
	Bank of America, N.A.	$25,000,000.00	$185,000,000.00
	PNC Bank, National Association	$75,000,000.00	$165,000,000.00
	Capital One, National Association	$10,000,000.00	$100,000,000.00
	US Bank, National Association	$10,000,000.00	$100,000,000.00
	Fifth Third Bank, National Association, an Ohio Banking Corporation	$10,000,000.00	$100,000,000.00
	JPMorgan Chase Bank, N.A.	$10,000,000.00	$100,000,000.00
	T.D Bank, N.A.	$75,000,000.00	$165,000,000.00
	Citibank, N.A.	0	$70,000,000.00
	BankUnited, N.A.	-$25,000,000.00	$25,000,000.00
	Synovus Bank	0	$40,000,000.00
	First Horizon	0	$30,000,000.00
	Total:	$200,000,000.00	$1,500,000,000.00Exhibit 10.1

 

SOC TELEMED

 

1768 Business Center Drive, Suite 100, Reston,
Virginia 20190

 

December 7, 2020

 

Chris Knibb

 

		Re:	EMPLOYMENT AGREEMENT

 

Dear Chris:

 

This Employment Agreement
(the “Agreement”) between you (referred to hereinafter as the “Executive”)
and SOC Telemed, Inc., a Delaware corporation (the “Company”), sets forth the terms and conditions that
shall govern the period of Executive’s employment with the Company and its affiliates (referred to hereinafter as “Employment”)
effective as of January 4, 2021 (the “Effective Date”).

 

1. Duties
and Scope of Employment.

 

(a) Term.
Executive’s full-time Employment shall commence for an initial term effective as of the Effective Date and continuing for
a three (3)-year period (the “Initial Term”), unless sooner terminated in accordance with the provisions
of Section 6; with such employment to automatically continue following the Initial Term for additional one (1)-year periods in
accordance with the terms of this Agreement (subject to termination as aforesaid) unless either party notifies the other party
in writing of its intention not to renew this Agreement at least 60 days prior to the expiration of the Initial Term or any applicable
extension period of employment hereunder (the Initial Term, together with any such extension period of employment hereunder, shall
hereinafter be referred to as the “Employment Period”).

 

(b) Position
and Responsibilities. During the Employment Period, the Company agrees to employ Executive in the position of Chief Financial
Officer. Executive will report to the Company’s Chief Executive Officer (Executive’s “Supervisor”),
and Executive will work out of the Company’s office in Virginia or, as directed by the Company from time to time, remotely.
Due to the pandemic situation, Executive will be allowed to work remotely through October 31, 2022.  Executive will be extended
a relocation assistance stipend of $50,000 (net of tax withholding, it being understood by Executive that the gross amount thereof
will be considered taxable compensation to Executive) to assist with moving personal belongings and temporary housing, subject
to applicable Company policies (the “Relocation Stipend”).  The Relocation Stipend will be paid
to Executive on or around January 21, 2022 through the Company’s standard payroll processes.  If Executive elects to
not relocate by the required date, Executive will be deemed to have voluntarily resigned without any entitlement to severance. 
If Executive resigns or is terminated for Cause (as defined in Attachment A) within one year of receipt of the Relocation
Stipend, Executive agrees to refund the Company the full amount of the Relocation Stipend. Executive will perform the duties and
have the responsibilities and authority customarily performed and held by an employee in Executive’s position or as otherwise
may be assigned or delegated to Executive by Executive’s Supervisor.

 

     

     

    

 

(c) Obligations
to the Company. During the Employment Period, Executive shall perform Executive’s duties faithfully and to the best
of Executive’s ability and will devote Executive’s full business efforts and time to the Company. During the Employment
Period, without the prior written approval of the Chief Executive Officer of the Company, Executive shall not render services in
any capacity to any other Person and shall not act as a sole proprietor or partner of any other Person or own more than five percent
(5%) of the stock of any other corporation. Notwithstanding the foregoing, Executive may serve on civic or charitable boards or
committees, deliver lectures, fulfill speaking engagements, teach at educational institutions, or manage personal investments without
advance written consent of the Chief Executive Officer of the Company; provided that such activities do not individually or in
the aggregate interfere with the performance of Executive’s duties under this Agreement or create a potential business or
fiduciary conflict. Executive shall comply with the Company’s policies and rules, as they may be in effect from time to time
during Executive’s Employment.

 

(d) Business
Opportunities. During Executive’s Employment, Executive shall promptly disclose to the Company each business opportunity
of a type, which based upon its prospects and relationship to the business of the Company or its affiliates, the Company might
reasonably consider pursuing. In the event that Executive’s Employment is terminated for any reason, the Company or its affiliates
shall have the exclusive right to participate in or undertake any such opportunity on their own behalf without any involvement
by or compensation to Executive under this Agreement.

 

(e) No
Conflicting Obligations. Executive represents and warrants to the Company that Executive is under no obligations or commitments,
whether contractual or otherwise, that are inconsistent with Executive’s obligations under this Agreement or that would otherwise
prohibit Executive from performing Executive’s duties with the Company. In connection with Executive’s Employment,
Executive shall not use or disclose any trade secrets or other proprietary information or intellectual property in which Executive
or any other Person has any right, title or interest and Executive’s Employment will not infringe or violate the rights of
any other Person. Executive represents and warrants to the Company that prior to the Effective Date Executive shall have returned
all property and confidential information belonging to any prior employer.

 

2. Cash
and Incentive Compensation.

 

(a) Base
Salary. The Company shall pay Executive, as compensation for Executive’s services, a base salary at a gross annual
rate of $350,000, less all required tax withholdings and other applicable deductions, in accordance with the Company’s
standard payroll procedures. The annual compensation specified in this subsection (a), together with any modifications in
such compensation that the Company may make from time to time, is referred to in this Agreement as the “Base Salary.”
Executive’s Base Salary will be subject to review and adjustments that will be made based upon the Company’s normal
performance review practices. Effective as of the date of any change to Executive’s Base Salary, the Base Salary as so changed
shall be considered the new Base Salary for all purposes of this Agreement.

 

    -2-

     

    

 

(b) Cash
Incentive Bonus. Executive will be eligible to be considered for an annual cash incentive bonus (the “Cash
Bonus”) each calendar year during the Employment Period based upon the achievement of certain objective and/or subjective
criteria (collectively, the “Performance Goals”). In compliance with all relevant legal requirements
and based on Executive’s level within the Company, the Performance Goals for Executive’s Cash Bonus for a particular
year will be established by, and in the sole discretion of, the Board of Directors of the Company (the “Board”)
or the Compensation Committee of the Board (the “Committee”). The initial target opportunity for any
such Cash Bonus will be up to 50% of Executive’s Base Salary (the “Target Bonus Percentage”),
less all required tax withholdings and other applicable deductions. The determinations of the Board or the Committee, as applicable,
with respect to such Cash Bonus or the Target Bonus Percentage shall be final and binding. Executive’s Target Bonus Percentage
for any subsequent year may be adjusted up or down, as determined in the sole discretion of the Board or Committee, as applicable.
Executive shall not earn a Cash Bonus unless Executive is employed by the Company on the date when such Cash Bonus is actually
paid by the Company.

 

(c) Restricted
Stock Units. Subject to the approval of the Board of Directors (or the appropriate committee thereof) of the Company, as
soon as practicable following January 4, 2021 (such date, the “Grant Date”), and subject to Executive’s
continued Employment in good standing through the Grant Date, Executive shall be granted a restricted stock unit award with respect
to that number of shares of Class A common stock of the Company equal to the quotient obtained by dividing, as determined by the
Company in good faith, (x) $1,500,000 by (y) the closing price of Class A common stock of the Company on the Grant Date (the “RSU
Award”). The RSU Award shall vest and become payable as set forth on Schedule A hereto, subject to Executive’s
continued Employment in good standing through each such vesting date. The RSU Award will be subject to the terms, definitions and
provisions of the Company’s 2020 Equity Incentive Plan and a restricted stock unit agreement, which Executive will be required
to sign.

 

(d) Sign-On
Bonus. The Company shall pay Executive a one-time sign-on bonus of $25,000 (the “Sign-On Bonus”)
within thirty (30) calendar days of the Effective Date, less all required tax withholdings and other applicable deductions. Executive
will earn and be permitted to retain the full amount of the Sign-On Bonus if Executive remains in Employment on the one (1) year
anniversary of the Effective Date. If Executive voluntarily resigns from the Company before such time, Executive will be required
to return immediately the gross pre-tax amount of the Sign-On Bonus to the Company. In such case, Executive’s signature below
authorizes the Company, to the fullest extent permitted by law, to make deductions from any payment Executive is owed (including
Executive’s final paycheck) to repay all or a portion of the Sign-On Bonus. Executive agrees that, if any such deductions
do not fully repay the Sign-On Bonus that is owed to the Company, Executive will pay the Company the remaining balance within thirty
(30) calendar days of the last day of Executive’s Employment.

 

3. Employee
Benefits. During the Employment Period, Executive shall be eligible to participate in the employee benefit plans maintained
by the Company and generally available to similarly situated employees of the Company, subject to the generally applicable terms
and conditions of the plan in question and to the determinations of any Person or committee administering such plan. The Company
reserves the right to cancel or change the employee benefit plans, policies and programs it offers to its employees at any time.

 

    -3-

     

    

 

4. Business
Expenses. The Company will reimburse Executive for necessary and reasonable business expenses incurred in connection with
Executive’s duties hereunder upon presentation of an itemized account and appropriate supporting documentation, all in accordance
with the Company’s generally applicable policies.

 

5. Rights
Upon Termination. Except as may be provided in the Severance and Change in Control Agreement entered (or to be entered)
into between the parties substantially in the form set forth as Attachment A hereto (the “Severance and Change
in Control Agreement”), upon the termination of Executive’s Employment, Executive shall only be entitled to
(a) any accrued but unpaid Base Salary, (b) all other benefits earned, and expenses to be reimbursed, as described in this Agreement
or under any Company-provided plans, policies, and arrangements for the Employment Period, each in accordance with the governing
documents and policies of any such benefits, reimbursements, plans and arrangements, and (c) such other compensation or benefits
as may be required by law (collectively, the “Accrued Benefits”).

 

6. Employment
at Will. Executive’s Employment shall be “at will,” meaning that either Executive or the Company shall
be entitled to terminate Executive’s Employment at any time and for any reason, with or without cause or notice. Any contrary
representations that may have been made to Executive shall be superseded by this Agreement. This Agreement shall constitute the
full and complete agreement between Executive and the Company on the “at-will” nature of Executive’s Employment,
which may only be changed in an express written agreement signed by Executive and a duly authorized officer of the Company.

 

7. Section
409A. To the extent that reimbursements or in-kind benefits under this Agreement constitute non-exempt “nonqualified
deferred compensation” for purposes of Section 409A, (a) all reimbursements hereunder shall be made on or prior to the last
day of the calendar year following the calendar year in which the expense was incurred by Executive, (b) any right to reimbursement
or in-kind benefits shall not be subject to liquidation or exchange for another benefit, and (c) the amount of expenses eligible
for reimbursement or in-kind benefits provided in any calendar year shall not in any way affect the expenses eligible for reimbursement
or in-kind benefits to be provided, in any other calendar year. The payments and benefits provided hereunder are intended to be
exempt from or comply with the requirements of Section 409A so that none of the payments and benefits to be provided hereunder
will be subject to the additional tax imposed under Section 409A, and any ambiguities or ambiguous terms herein will be interpreted
to be exempt or so comply. The Company and Executive agree to work together in good faith to consider amendments to this Agreement
and to take such reasonable actions that are necessary, appropriate or desirable to avoid imposition of any additional tax or income
recognition prior to actual payment to Executive under Section 409A.

 

8. Definition
of Terms. The following terms referred to in this Agreement will have the following meanings:

 

(a) Code.
“Code” means the Internal Revenue Code of 1986, as amended.

 

(b) Governmental
Authority. “Governmental Authority” means any federal, state, municipal, foreign or other government, governmental
department, commission, board, bureau, agency or instrumentality, or any private or public court or tribunal.

 

    -4-

     

    

 

(c) Person.
“Person” shall be construed in the broadest sense and means and includes any natural person, a partnership, a corporation,
an association, a joint stock company, a limited liability company, a trust, a joint venture, an unincorporated organization and
other entity or Governmental Authority.

 

(d) Section
409A. “Section 409A” means Section 409A of the Code, and the final regulations and any guidance promulgated
thereunder or any state law equivalent.

 

9. Golden
Parachute.

 

(a) Anything
in this Agreement to the contrary notwithstanding, if any payment or benefit Executive would receive from the Company or otherwise
(“Payment”) would (i) constitute a “parachute payment” within the meaning of Section 280G
of the Code; and (ii) but for this sentence, be subject to the excise tax imposed by Section 4999 of the Code (the “Excise
Tax”), then such Payment shall be equal to the Reduced Amount. The “Reduced Amount”
shall be either (x) the largest portion of the Payment that would result in no portion of the Payment being subject to the
Excise Tax; or (y) the largest portion, up to and including the total, of the Payment, whichever amount, after taking into
account all applicable federal, state and local employment taxes, income taxes, and the Excise Tax (all computed at the highest
applicable marginal rate), results in Executive’s receipt, on an after-tax basis, of the greater amount of the Payment. Any
reduction made pursuant to this Section 9(a) shall be made in accordance with the following order of priority: (i) stock options
whose exercise price exceeds the fair market value of the optioned stock (“Underwater Options”) (ii)
Full Credit Payments (as defined below) that are payable in cash, (iii) non-cash Full Credit Payments that are taxable, (iv) non-cash
Full Credit Payments that are not taxable, (v) Partial Credit Payments (as defined below) and (vi) non-cash employee welfare benefits.
In each case, reductions shall be made in reverse chronological order such that the payment or benefit owed on the latest date
following the occurrence of the event triggering the excise tax will be the first payment or benefit to be reduced (with reductions
made pro-rata in the event payments or benefits are owed at the same time). “Full Credit Payment” means
a payment, distribution or benefit, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement
or otherwise, that if reduced in value by one dollar reduces the amount of the parachute payment (as defined in Section 280G of
the Code) by one dollar, determined as if such payment, distribution or benefit had been paid or distributed on the date of the
event triggering the excise tax. “Partial Credit Payment” means any payment, distribution or benefit
that is not a Full Credit Payment.

 

(b) A
nationally recognized certified public accounting firm selected by the Company (the “Accounting Firm”)
shall perform the foregoing calculations related to the Excise Tax. If a reduction is required pursuant to Section 9(a), the Accounting
Firm shall administer the ordering of the reduction as set forth in Section 9(a). The Company shall bear all expenses with respect
to the determinations by such accounting firm required to be made hereunder.

 

(c) The
Accounting Firm engaged to make the determinations hereunder shall provide its calculations, together with detailed supporting
documentation, to Executive and the Company within fifteen (15) calendar days after the date on which Executive’s right to
a Payment is triggered. Any good faith determinations of the Accounting Firm made hereunder shall be final, binding, and conclusive
upon Executive and the Company.

 

    -5-

     

    

 

(d) Notwithstanding
anything to the contrary in Section 9(a), if any Payment that would be otherwise reduced pursuant to Section 9(a) would not be
so reduced if the stockholder approval requirements of Section 280G(b)(5) of the Code are capable of being satisfied, the Company
will use its reasonable best efforts to cause such payments to be timely submitted for such approval in accordance with such requirements.

 

10. Pre-Employment
Conditions.

 

(a) Confidentiality
Agreement. Executive’s acceptance of this offer and Executive’s Employment is contingent upon the execution,
and delivery to an officer of the Company, of the Company’s Employee Nondisclosure, Non-Solicitation, Confidentiality and
Developments Agreement, a copy of which is attached hereto as Attachment B for Executive’s review and execution (the
“Confidentiality Agreement”), prior to or on the Effective Date.

 

(b) Right
to Work. For purposes of federal immigration law, Executive will be required, if Executive has not already, to provide
to the Company documentary evidence of Executive’s identity and eligibility for employment in the United States. Such documentation
must be provided to the Company within three (3) business days of the Effective Date, or our Employment relationship with Executive
may be terminated.

 

(c) Verification
of Information. This Agreement is also contingent upon the successful verification of the information Executive provided
to the Company during Executive’s application process, as well as a general background check performed by the Company to
confirm Executive’s suitability for Employment. By accepting this Agreement, Executive warrants that all information provided
by Executive is true and correct to the best of Executive’s knowledge, Executive agrees to execute any and all documentation
necessary for the Company to conduct a background check and Executive expressly releases the Company from any claim or cause of
action arising out of the Company’s verification of such information.

 

11. Arbitration.

 

(a) Arbitration.
In consideration of Executive’s Employment, the Company’s promise to arbitrate all employment-related disputes
(subject to Section 10 of the Confidentiality Agreement), and Executive’s receipt of the compensation, pay raises and other
benefits paid to Executive by the Company, at present and in the future, Executive agrees that any and all controversies, claims,
or disputes with anyone (including the Company and any employee, officer, director, shareholder or benefit plan of the Company
in their capacity as such or otherwise) arising out of, relating to, or resulting from Executive’s Employment or termination
thereof, including any breach of this Agreement, will be subject to binding arbitration pursuant to Virginia law. The Federal Arbitration
Act shall also apply with full force and effect.

 

(b) Dispute
Resolution. Disputes that Executive agrees to arbitrate, and thereby agrees to waive any right to a jury trial, include
any statutory claims under local, state, or federal law, including, but not limited to, claims under Title VII of the Civil Rights
Act of 1964, the Americans with Disabilities Act of 1990, the Age Discrimination in Employment Act of 1967, the Older Workers Benefit
Protection Act, the Sarbanes Oxley Act, the Worker Adjustment and Retraining Notification Act, the Virginia Human Rights Act, the
Virginia Values Act, the Virginia Labor Code, claims of harassment, discrimination, and wrongful termination, and any statutory
or common law claims. Executive further understands that this agreement to arbitrate also applies to any disputes that the Company
may have with Executive.

 

    -6-

     

    

 

(c) Procedure.
Executive agrees that any arbitration will be administered by Judicial Arbitration & Mediation Services, Inc. (“JAMS”),
pursuant to its Employment Arbitration Rules & Procedures (the “JAMS Rules”). The arbitrator shall
have the power to decide any motions brought by any party to the arbitration, including motions for summary judgment and/or adjudication,
motions to dismiss and demurrers, and motions for class certification, prior to any arbitration hearing. The arbitrator shall have
the power to award any remedies available under applicable law, and the arbitrator shall award attorneys’ fees and costs
to the prevailing party, except as prohibited by law. The Company will pay for any administrative or hearing fees charged by the
administrator or JAMS, and all arbitrator’s fees, except that Executive shall pay any filing fees associated with any arbitration
that Executive initiates, but only so much of the filing fee as Executive would have instead paid had Executive filed a complaint
in a court of law. Executive agrees that the arbitrator shall administer and conduct any arbitration in accordance with Virginia
law, and that the arbitrator shall apply substantive and procedural Virginia law to any dispute or claim, without reference to
the rules of conflict of law. To the extent that the JAMS Rules conflict with Virginia law, Virginia law shall take precedence.
The decision of the arbitrator shall be in writing. Any arbitration under this Agreement shall be conducted in Virginia.

 

(d) Remedy.
Arbitration shall be the sole, exclusive, and final remedy for any dispute between Executive and the Company. Accordingly, except
as provided by this Agreement, neither Executive nor the Company will be permitted to pursue court action regarding claims that
are subject to arbitration. Notwithstanding, the arbitrator will not have the authority to disregard or refuse to enforce any
lawful Company policy, and the arbitrator will not order or require the Company to adopt a policy not otherwise required by law
that the Company has not adopted.

 

(e) Administrative
Relief. Executive is not prohibited from pursuing an administrative claim with a local, state, or federal administrative
body or government agency that is authorized to enforce or administer laws related to employment, including, but not limited to,
the Department of Fair Employment and Housing, the Equal Employment Opportunity Commission, the National Labor Relations Board,
or the Workers’ Compensation Board. However, Executive may not pursue court action regarding any such claim, except as permitted
by law.

 

(f) Voluntary
Nature of Agreement. Executive acknowledges and agrees that Executive is executing this Agreement voluntarily and without
any duress or undue influence by the Company or anyone else. Executive further acknowledges and agrees that Executive has carefully
read this Agreement and that Executive has asked any questions needed for Executive to understand the terms, consequences and binding
effect of this Agreement and fully understands it, including that EXECUTIVE IS WAIVING EXECUTIVE’S RIGHT TO A JURY
TRIAL.

 

(g) Independent
Advice. Executive acknowledges that Executive has been advised to obtain independent advice and legal counsel to advise
Executive concerning this Agreement, and that Executive has either done so or has knowingly waived that opportunity of Executive’s
own free choice. Neither the Company nor any attorneys for the Company have advised Executive concerning this Agreement, and Executive
is relying solely upon the advice of Executive’s own independent counsel (if any); nor has the Company or any attorneys for
the Company coerced, used undue influence, or otherwise induced Executive to enter into this Agreement.

 

    -7-

     

    

 

12. Successors.

 

(a) Company’s
Successors. This Agreement shall be binding upon any successor (whether direct or indirect and whether by purchase, lease,
merger, consolidation, liquidation or otherwise) to all or substantially all of the Company’s business and/or assets. For
all purposes under this Agreement, the term “Company” shall include any successor to the Company’s
business or assets that become bound by this Agreement or any affiliate of any such successor that employs Executive.

 

(b) Executive’s
Successors. This Agreement and all of Executive’s rights hereunder shall inure to the benefit of, and be enforceable
by, Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and
legatees.

 

13. Miscellaneous
Provisions.

 

(a) Indemnification.
The Company shall indemnify Executive to the maximum extent permitted by applicable law and the Company’s Bylaws with respect
to Executive’s service and Executive shall also be covered under a directors and officers liability insurance policy paid
for by the Company to the extent that the Company maintains such a liability insurance policy now or in the future. Executive agrees
to indemnify and save the Company and its affiliates harmless from any damages, which the Company may sustain in any manner primarily
through Executive’s willful misconduct or gross negligence or a material breach of the provisions of this Agreement.

 

(b) Headings.
All captions and section headings used in this Agreement are for convenient reference only and do not form a part of this Agreement.

 

(c) Notice.

 

(i) General.
Notices and all other communications contemplated by this Agreement shall be in writing and shall be deemed to have been duly given
when personally delivered or when mailed by U.S. registered or certified mail, return receipt requested and postage prepaid. In
Executive’s case, mailed notices shall be addressed to Executive at the home address that Executive most recently communicated
to the Company in writing. In the case of the Company, mailed notices shall be addressed to its corporate headquarters, and all
notices shall be directed to the attention of its Secretary.

 

(ii) Notice
of Termination. Any termination by the Company or by Executive will be communicated by a notice of termination to the other
party hereto given in accordance with Section 13(c)(i) of this Agreement. Such notice will indicate the specific termination provision
in this Agreement relied upon, will set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination
under the provision so indicated, and will specify the termination date (which will be not more than thirty (30) days after the
giving of such notice), subject to any applicable cure period.

 

    -8-

     

    

 

(d) Modifications
and Waivers. No provision of this Agreement shall be modified, waived or discharged unless the modification, waiver or
discharge is agreed to in writing and signed by Executive and by an authorized officer of the Company (other than Executive). No
waiver by either party of any breach of, or of compliance with, any condition or provision of this Agreement by the other party
shall be considered a waiver of any other condition or provision or of the same condition or provision at another time.

 

(e) Whole
Agreement. No other agreements, representations or understandings (whether oral or written and whether express or implied)
that are not expressly set forth in this Agreement have been made or entered into by either party with respect to the subject matter
hereof. This Agreement, the Severance and Change in Control Agreement, and the Confidentiality Agreement contain the entire understanding
of the parties with respect to the subject matter hereof.

 

(f) Withholding
Taxes. All payments made under this Agreement shall be subject to reduction to reflect taxes or other deductions required
to be withheld by law.

 

(g) Choice
of Law and Severability. This Agreement shall be interpreted in accordance with the laws of the Commonwealth of Virginia,
without giving effect to provisions governing the choice of law. If any provision of this Agreement becomes or is deemed invalid,
illegal or unenforceable in any applicable jurisdiction by reason of the scope, extent or duration of its coverage, then such provision
shall be deemed amended to the minimum extent necessary to conform to applicable law so as to be valid and enforceable or, if such
provision cannot be so amended without materially altering the intention of the parties, then such provision shall be stricken
and the remainder of this Agreement shall continue in full force and effect. If any provision of this Agreement is rendered illegal
by any present or future statute, law, ordinance or regulation (collectively, the “Law”) then that provision
shall be curtailed or limited only to the minimum extent necessary to bring the provision into compliance with the Law. All the
other terms and provisions of this Agreement shall continue in full force and effect without impairment or limitation.

 

(h) No
Assignment. This Agreement and all of Executive’s rights and obligations hereunder are personal to Executive and
may not be transferred or assigned by Executive at any time. The Company may assign its rights under this Agreement to any entity
that assumes the Company’s obligations hereunder in connection with any sale or transfer to such entity of all or a substantial
portion of the Company’s assets.

 

(i) Acknowledgment.
Executive acknowledges that Executive has had the opportunity to discuss this matter with and obtain advice from Executive’s
personal attorney, has had sufficient time to, and has carefully read and fully understood all the provisions of this Agreement,
and is knowingly and voluntarily entering into this Agreement.

 

(j) Counterparts.
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. Execution of a facsimile or electronic copy will have the same force and effect as
execution of an original, and a facsimile or electronic signature will be deemed an original and valid signature.

 

(k) Electronic
Delivery. The Company may, in its sole discretion, decide to deliver any documents related to this Agreement by electronic
means. Executive hereby consents to receive such documents by electronic delivery.

 

[Signature Page Follows]

 

    -9-

     

    

 

After you have had an
opportunity to review this Agreement, please feel free to contact me if you have any questions or comments. To indicate your acceptance
of this Agreement, please sign and date this letter in the space provided below and return it to the Company.

 

	 	Very truly yours,
	 	 
	 	SOC TELEMED
	 	 	 
	 	By:	/s/ John Kalix
	 	 	(Signature)
	 	 	 
	 	Name:  	John Kalix
	 	 	 
	 	Title:	CEO

 

	ACCEPTED AND AGREED:	 
	 	 
	CHRIS KNIBB	 
	 	 
	/s/ Chris Knibb	 
	(Signature)	 
	 	 
	12/7/2020	 
	Date	 

 

	Attachment A:	Severance and Change in Control Agreement
	 	 
	Attachment B:	Employee Nondisclosure, Non-Solicitation, Confidentiality and Developments Agreement

 

 

[Signature Page to Employment Agreement]

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