Document:

ex10_23.htm

Exhibit 10.23

 

INDEPENDENT CONTRACTOR CONSULTING AGREEMENT

This Independent Contractor Consulting Agreement is made effective as of June 1, 2016 (the “Effective Date”) by and between ELIO MOTORS, INC., an Arizona corporation, 2942 North 24th Street, Suite 114-700, Phoenix, Arizona 85016 (“Company”); and HARI IYER, 4261 Ruthelma Ave, Palo Alto, CA 94306 (“Contractor”).

RECITALS

A.           Company engages in designing, developing and manufacturing of highly fuel-efficient, low cost vehicles known as the Elio (the “Business”).

B.           Contractor served as Company’s Chief Operating Officer immediately prior to this Agreement and continues to serve as a member of Company’s board of directors.

C.           While serving as Company’s Chief Operating Officer, Contractor had primary responsibility for the submission of a loan application under the Advanced Technology Vehicles Manufacturing (“ATVM”) Loan Program.

D.           Company’s ATVM loan application is still under consideration by the Loan Programs Office of the U.S. Department of Energy (“DOE”).

E.           Company desires to engage Contractor to continue pursuing its ATVM loan application, and Contractor desires to accept the engagement, as specified below.

AGREEMENT

1.             Services.

(a)           Company engages Contractor, and Contractor accepts the engagement for a period of up to one (1) year, in accordance with the provisions in this Agreement, as the Company’s ATVM loan consultant.  In this capacity, Contractor will, to the best of his ability, respond on a timely basis to all inquiries for additional information from the DOE related to Company’s ATVM loan application and do everything possible to enable Company to obtain the ATVM loan (the “Services”).

(b)           Contractor shall copy Company’s Chief Executive Officer (“CEO”) and Chief Financial Officer (“CFO”) on all correspondence with the DOE related to the ATVM loan application and shall brief Company’s CEO and CFO on all conversations about the ATVM loan application with DOE personnel by providing a memo regarding such conversations.  All of the Services will be performed by Contractor in accordance with guidelines, specifications, procedures, rules, and/or requirements provided by Company to Contractor from time to time.

 

	
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2.              Independent Contractor Status.

(a)           Under the terms of this Agreement, Contractor is an independent contractor and not an employee, servant, partner, associate, or joint venturer of Company.  Although (i) Company determines the services to be provided by Contractor, (ii) Company may specify the desired results, and (iii) a representative of Company may review all work completed by Contractor, Company will not supervise Contractor in his day-to-day conduct nor otherwise exercise control over the means and manner by which he provides the Services.  Contractor is not required or expected to perform work exclusively for Company.

(b)           Company is not responsible for withholding or deducting from Contractor’s fees FICA or taxes of any kind, unless such withholding becomes legally required.  Company will not provide to Contractor, and Contractor is not entitled to receive from Company, unemployment compensation, medical insurance, or any other insurance or employee benefits from Company.  Contractor is not entitled to workers’ compensation benefits.  Contractor is obligated to pay federal and state income tax on any monies earned pursuant to this independent contractor relationship.

3.             Work Assignments.  Company will specify the particular services to be performed by Contractor in each work assignment.  Company agrees to supply Contractor with any necessary information and materials needed by Contractor to satisfactorily complete the assignment.  Company may specify reasonable constraints on, or requirements related to, the project.

4.             Fees and Expenses.

(a)           As payment for Contractor’s Services, Company will pay to Contractor a monthly fee of Ten Thousand Dollars ($10,000) per month (the “Services Fee”) for all work performed by Contractor, which is payable by Company to Contractor on or before the 15th day of the month for the prior month.  A back-end retainer for Fifty Thousand Dollars ($50,000) covering the last five (5) months of the term of this Agreement shall be paid upon execution of this Agreement.

(b)           The Services Fee covers all expenses of Contractor, except if the DOE should wish to meet in person with Company and Contractor.  In that event, Company will pay for or reimburse Contractor for his reasonable travel and lodging expenses.

5.             Compliance with Laws, Regulations and Rules.  Contractor agrees that in performing the Services for Company, he will comply with the applicable laws, regulations and rules pertaining to the ATVM loan application.

6.             Confidentiality and Covenant against Competition.

(a)           Contractor acknowledges that much of the information imparted to Contractor by Company or obtained by Contractor during his employment with Company is confidential, constitutes trade secrets and remains the sole exclusive property of Company.  Contractor further acknowledges that Company’s confidential information and trade secrets are unique and novel.  Accordingly, Contractor will not disclose any such information, except as authorized by Company.  Contractor shall promptly return all materials containing proprietary information of Company in his possession or control, (i) upon the expiration or termination, for any cause, of this Agreement or (ii) as otherwise requested to do so by Company.

 

	
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(b)           Before disclosing confidential information or trade secrets of Company to others, Contractor shall require those persons to sign confidentiality agreements in a form supplied or approved by Company, binding those persons not to disclose the information except as may be authorized in the agreement.  Contractor agrees he will take all steps necessary, at Contractor’s own expense, to protect the confidential information and trade secrets mentioned in this Agreement.  Contractor agrees that he will not divulge this information to anyone without Company’s prior written consent.

(c)           During the term of this Agreement, and for a period of two (2) years after its expiration or termination for any cause, Contractor will not engage in any business In Competition (as defined below) with Company.  The provisions of this Agreement bind Contractor in any capacity, including as a sole proprietor, officer, director, partner, limited liability company manager or member, shareholder or employee.  Notwithstanding the prior sentences, Contractor will not be prohibited from owning securities in a similar business if the securities are listed on a stock exchange or publicly-traded on the over-the-counter market and represent not more than two percent (2%) of the total securities of that entity issued and outstanding.  For purposes of this provision, “In Competition” means the design, development or manufacture of highly fuel-efficient vehicles for sale in North America.

(d)           During the term of this Agreement, and for a period of two (2) years after its expiration or termination for any reason, Contractor will not divert or attempt to divert any business, partners or potential partners, or customers or potential customers of the Business to any business In Competition with Company by direct or indirect inducement or otherwise.  In addition, Contractor will not at any time do or perform any act, directly or indirectly, that harms the goodwill or reputation of the Business.

(e)           If a court of competent jurisdiction determines that the restrictions of Section 6(c) or Section 6(d) above are excessive in time, geographic scope, or otherwise, the court or arbitrator may reduce the restriction to the level that provides the maximum restriction allowed by law.

7.             Enhancements Developed by Contractor.

(a)           If Contractor develops, enhances, or otherwise improves any aspect of, or related to, the Business engaged in by Company, any and all plans, methods, ideas, and/or systems related to the development, enhancement, or other improvement (collectively, the “Enhancement”) will be solely owned by Company and will inure to the benefit of Company, and may become part of the Business.  Company may, in Company’s sole determination, use the Enhancement in its business and/or make it available to others as it deems appropriate.

 

	
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(b)          Contractor sells, assigns, and transfers to the Company and its successors and assigns all of Contractor’s right, title, and interest in any Enhancement that is an idea, invention, technique, modification, process, or improvement (whether patentable or not), or a trademark or service mark (whether registerable or not).

(c)           Without limiting the generality of the foregoing, Contractor agrees to do all of the following:

(i)           Disclose to Company in writing any Enhancement.

(ii)          Assign to Company or to a party designated by Company, at Company’s request and without additional compensation, all of Contractor’s rights (including all copyrights, patents, and other intellectual property rights) to the Enhancement for the United States and all foreign jurisdictions.

(iii)         Execute and deliver to Company such applications, assignments, and other documents as Company may request in order to apply for and obtain in the United States and any foreign jurisdictions patents, copyright registrations, trademark registrations, or other registrations with respect to any Enhancement.

(iv)         Sign all other papers necessary to carry out the obligations above.

(v)          Give testimony and render any other assistance, but without expense to Contractor, in support of Company’s rights to any Enhancement.

(d)           The provisions of this Section 7 are binding on Contractor if for any reason an Enhancement created by Contractor is not a “work made for hire”.

8.             Term/Termination.

(a)           The term of this Agreement will commence as of its Effective Date, and will expire one (1) year thereafter, unless terminated by either party as specified below.

(b)           Company may terminate this Agreement if Contractor breaches any provision of this Agreement and Contractor fails to cure the breach within thirty (30) days after written notice is given by Company to Contractor.

(c)           Contractor may terminate this Agreement if Company breaches any provision of this Agreement and Company fails to cure the breach within thirty (30) days after written notice is given by Contractor to Company.

(d)           Upon expiration or termination of this Agreement for any reason, Company’s obligation to pay further Services Fees will cease.  The Services Fee for the month of expiration or termination will be prorated, if expiration or termination occurs on a day other than the last day of the month.

 

	
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(e)           If termination is by Contractor, Contractor will use reasonable efforts to ensure that any work assignments accepted by Contractor are complete, or that Company has time to find another person to complete the work assignment (b) before it/they need to be completed.

9.            Notices.  All notices required or permitted by this Agreement or by law may be (i) personally delivered to the intended recipient; or (ii) sent by courier or by certified mail with return receipt requested, with delivery charges or postage prepaid, and addressed to the intended recipient as set forth above.  Notices may also be given by e-mail or facsimile if the recipient has previously notified the sender of its e-mail address and/or facsimile number and has not previously advised the sender in writing not to send notices by e-mail and/or facsimile.  Notices will deemed delivered when received, if given by personal delivery, courier, or if applicable, by e-mail or facsimile; or three (3) days after deposit with the U.S. Postal Service with proper address and postage paid.  If delivery of any notice properly given under this provision is refused or delivery cannot otherwise be completed, the notice will be deemed delivered on the first attempted delivery.  Payments by Company may be sent to Contractor by regular, uncertified mail or any other method of delivery.

10.           Contractor Indemnification.  Contractor shall indemnify and hold Company and its affiliates and their respective directors, officers, employees, agents, other representatives, successors and assigns (collectively, the “Company Group Members”) harmless from and against any and all claims, demands, losses, and expenses incurred by Company and/or any of the Company Group Members in connection with or arising from (i) the Services or (ii) any breach by Contractor of this Agreement, except if and to the extent caused by the acts, or omissions where it had a duty to act, of Company or Company Group Members.

11.           Company Indemnification.  Company shall indemnify and hold Contractor and his successors and assigns (collectively, the “Contractor Group Members”) harmless from and against any and all claims, demands, losses, and expenses incurred by Contractor or a Contractor Group Member in connection with or arising from (i) any breach by Company of this Agreement or (ii) any claim related to Company’s ATVM loan application, except if and to the extent caused by the acts, or omissions where he had a duty to act, of Contractor or a Contractor Group Member.

12.           Modifications; Waiver.  Any modification of this Agreement must be in writing and signed by the parties to this Agreement.  Failure of any of the parties to insist upon the strict performance of any of the provisions of this Agreement will not constitute or be construed as a waiver or relinquishment of the right to thereafter enforce that provision, and it will continue in full force and effect.

13.           Governing Law; Venue; Waiver of Jury Trials.  This Agreement will be governed by and construed in accordance with the laws of the State of Arizona.  The parties agree that any appropriate state or federal court in Arizona has exclusive jurisdiction and venue over any case or controversy arising under or related to this Agreement, and is the proper forum in which to adjudicate the case or controversy.  The parties expressly consent to personal jurisdiction in the State of Arizona.  EACH PARTY WAIVES ITS RIGHTS TO A TRIAL BY JURY, EXCEPT IF PROHIBITED BY APPLICABLE LAW.

 

	
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14.           Litigation Expense.  The prevailing party in any legal action arising out of or related to this Agreement will be entitled to recover from the other party its costs and expenses incurred in the action, including its reasonable attorneys’ and experts’ fees.  If more than one party is awarded a judgment in any dollar amount, the court will determine the prevailing party taking into consideration the merits of the claims asserted by each party, the amount of the judgment received by each party, and the relative equities between the parties.

15.           Partial Invalidity.  If a court of competent jurisdiction makes a final determination that any provision of this Agreement is invalid or unenforceable, that provision will be modified by the court so as to best continue to carry out the intent of the parties, or severed from this Agreement if it cannot be so modified; and the remaining provisions remain unimpaired.

16.           Entire Agreement.  This Agreement constitutes the entire agreement of the parties related to its subject matter (into which all prior negotiations, commitments, representations, and undertakings with respect to its subject matter are merged).  No oral or other written understandings or agreements exist between the parties relating to the subject matter of this Agreement.

	
“Company”

	  	
“Contractor”

	
ELIO MOTORS, INC.

	  	  
	
 

 

By:           /s/ Paul Elio

	  	
 

 

/s/ Hari Iyer

	
Paul Elio

	  	
Hari Iyer

	
President and CEO

	  	  

 

	
Independent Contractor Consulting Agreement –page 6 of 68K-EX10.1_2016_7_22

		
			Exhibit 10.1
		

		
			EXECUTIVE VERSION
		

		
			REPRICING AMENDMENT
TO AMENDED AND RESTATED CREDIT AGREEMENT
		

		
			REPRICING AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT,  dated as of July 22, 2016 (this “Amendment”), is entered into by and among Zayo Group, LLC, a Delaware limited liability company (“Zayo Group”), Zayo Capital, Inc., a Delaware corporation (“Zayo Capital”; and together with Zayo Group, the “Borrowers”), Morgan Stanley Senior Funding, Inc., as term facility administrative agent (the “Term Facility Administrative Agent”), SunTrust Bank, as revolving facility administrative agent (the “Revolving Facility Administrative Agent” and, together with the Term Facility Administrative Agent, the “Administrative Agents”) and the undersigned 2016 Incremental Term Facility Lenders (the “Lenders”).
		

		
			PRELIMINARY STATEMENTS:
		

		
			WHEREAS, the Borrowers, certain subsidiaries thereof, the Administrative Agents and the Lenders entered into that certain Amendment and Restatement Agreement, dated as of May 6, 2015, whereby that certain Credit Agreement, dated as of July 2, 2012 (as amended by that certain Amendment No. 1 to Credit Agreement, dated as of July 17, 2012, that certain Amendment No. 2 to Credit Agreement, dated as of October 5, 2012, that certain Amendment No. 3 to Credit Agreement, dated as of February 1, 2013, that certain Amendment No. 4 to Credit Agreement, dated as of February 27, 2013, that certain Amendment No. 5 to Credit Agreement, dated as of November 26, 2013, that certain Amendment No. 6 to Credit Agreement, dated as of May 16, 2014, and that certain Amendment No. 7 to Credit Agreement, dated as of April 17, 2015) was amended and restated in its entirety in the form of that certain Amended and Restated Credit Agreement, dated as of May 6, 2015 (as amended by that certain Incremental Amendment to Amended and Restated Credit Agreement, dated as of January 15, 2016, the “Credit Agreement”; capitalized terms not otherwise defined in this Amendment have the same meanings as specified in the Credit Agreement);
		

		
			 
		

		
			WHEREAS, the Borrowers, the undersigned Lenders and the Administrative Agents have agreed to amend the Credit Agreement as hereinafter set forth;
		

		
			 
		

		
			WHEREAS, (x) Barclays Bank PLC, Goldman Sachs Lending Partners LLC, Morgan Stanley Senior Funding, Inc. and RBC Capital Markets, LLC. are acting as joint lead arrangers for this Amendment and (y) Barclays Bank PLC, Goldman Sachs Lending Partners LLC, Morgan Stanley Senior Funding, Inc., RBC Capital Markets, LLC, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and SunTrust Robinson Humphrey, Inc. are acting as joint bookrunners for this Amendment;
		

		
			 
		

		
			NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration (the receipt and sufficiency of which are hereby acknowledged), the parties hereto hereby agree as follows:
		

		
			 
		

		
			SECTION 1.Amendments to Credit Agreement.  The Credit Agreement is, effective as of the date hereof and subject to the satisfaction of the conditions precedent set forth in Section 3, hereby amended as follows:
		

		
			
		

		 

 

		
			(a)Schedule 1.01(a) of the Credit Agreement is hereby amended by restating the table below the heading “2021 Term Loan Facility” in its entirety as set forth on Annex A hereto.
		

		
			(b)Section 1.1 of the Credit Agreement shall be amended by adding the following new definitions thereto in proper alphabetical order:
		

		
			“2016 Repricing Amendment” means that certain Repricing Amendment to Amended and Restated Credit Agreement, dated as of July 22, 2016, among the Borrowers, the Administrative Agents and certain Lenders.
		

		
			“2016 Repricing Amendment Effective Date” means the date on which all of the conditions contained in Section 3 of the 2016 Repricing Amendment have been satisfied or waived by the Administrative Agents.
		

		
			 
		

		
			(c)Section 1.1 of the Credit Agreement is hereby amended by restating clause (c) of the definition of “Applicable Margin” as follows:
		

		
			(c) in respect of the 2016 Incremental Term Loan Facility (i) 1.75% per annum for Base Rate Loans and (ii) 2.75% per annum for Eurodollar Loans.
		

		
			(d)Section 2.1(a) of the Credit Agreement is hereby amended by adding the following new paragraph at the immediate end thereof:
		

		
			On and after the 2016 Repricing Amendment Effective Date, the 2021 Term Loans and the 2016 Incremental Term Loans shall be one class of Term Loans for all purposes under the Credit Agreement and the other Loan Documents.
		

		
			SECTION 2.Reference to and Effect on the Loan Documents. (a)On and after the Effective Date, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof” or words of like import referring to the Credit Agreement, and each reference in the other Loan Documents to “the Credit Agreement”, “thereunder”, “thereof” or words of like import referring to the “Credit Agreement”, shall mean and be a reference to the Credit Agreement, as amended by this Amendment.
		

		
			(b)The Credit Agreement, as specifically amended by this Amendment, and the other Loan Documents are, and shall continue to be, in full force and effect, and are hereby in all respects ratified and confirmed. 
		

		
			(c)Except as expressly provided herein, the execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of any Lender or the Administrative Agents under the Credit Agreement or any other Loan Document, nor shall it constitute a waiver of any provision of the Credit Agreement or any Loan Document.
		

		
			(d)This Amendment shall be deemed a Loan Document for all purposes under the Credit Agreement.
		

		
			
		

		
			

		 

		

			Signature Page to Repricing Amendment to Amended and Restated Credit Agreement

		

		

			 

		

 

SECTION 3.Conditions of Effectiveness.  This Amendment shall become effective on the date on which the following conditions shall have been satisfied (or waived) (the “Effective Date”):
		

		
			(a)The Administrative Agents shall have received counterparts of this Amendment executed by the Borrowers, the Lenders and any Increasing Lenders on, or prior to, 5:00 p.m., New York City time on July 20, 2016 (the “Consent Deadline”);
		

		
			(b)After giving effect to this Amendment and the transactions contemplated hereby, the representations and warranties set forth in Article 5 of the Credit Agreement (as amended by this Amendment) are true and correct in all material respects as of the Effective Date, with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date (in which case such representations and warranties shall be true and correct in all material respects as of such earlier date) and immediately prior to and after giving effect to the Effective Date, no Default or Event of Default shall have occurred and be continuing;
		

		
			(c)The Administrative Agents shall have received a certificate of the secretary or an assistant secretary of the Administrative Borrower confirming compliance with the conditions precedent set forth in clause (b) of this Section 3; and
		

		
			(d)The Borrowers shall have paid all reasonable and documented costs and expenses of the Administrative Agents in connection with this Amendment (including the reasonable and documented fees, disbursements and other charges of Shearman & Sterling LLP as counsel to the Administrative Agents).
		

		
			SECTION 4.Representations and Warranties.  Each of the Borrowers hereby represents and warrants to the Administrative Agents that:
		

		
			 
		

		
			(a)on and as of the date hereof (i) it has all requisite corporate or other power and authority to enter into and perform its obligations under this Amendment, the Credit Agreement as amended hereby and the other Loan Documents to which it is a party, and (ii) this Amendment has been duly authorized, executed and delivered by it; and
		

		
			(b)this Amendment, and the Credit Agreement as amended hereby, constitute legal, valid and binding obligations of such party, enforceable against it in accordance with their respective terms, subject only to any limitation under Laws relating to (i) bankruptcy, insolvency, reorganization, moratorium or creditors’ rights generally; and (ii) general equitable principles including the discretion that a court may exercise in the granting of equitable remedies.
		

		
			SECTION 5.Increasing Lenders.  If any Lender declines or fails to consent to this Amendment by returning an executed counterpart of this Amendment to the Term Facility Administrative Agent prior to the Consent Deadline, then pursuant to and in compliance with the terms of Section 11.16 of the Credit Agreement, such Lender may be replaced and its commitments and/or obligations purchased and assumed by either a new lender (a “New Lender”) or an existing Lender which is willing to consent to this Amendment (an “Existing Lender” and, together with any New Lender, the “Increasing Lenders”) upon execution of this Amendment (which will also 
		

		
			 
		

		
			
		

		
			

		 

		

			Signature Page to Repricing Amendment to Amended and Restated Credit Agreement

		

		

			 

		

 

be deemed to be the execution of an Assignment and Assumption Agreement substantially in the form of Exhibit A hereto). 
		

		
			 
		

		
			SECTION 6.Costs and Expenses.  The Borrowers agree that all reasonable out-of-pocket expenses incurred by the Administrative Agents in connection with the preparation, execution, delivery and administration, modification and amendment of this Amendment and the other instruments and documents to be delivered hereunder or in connection herewith (including, without limitation, the reasonable fees, charges and disbursements of counsel for the Administrative Agents), are expenses that the Borrowers are required to pay or reimburse pursuant to Section 11.2 of the Credit Agreement.
		

		
			 
		

		
			SECTION 7.Execution in Counterparts.  This Amendment may be executed in one or more counterparts (and by different parties hereto in different counterparts), each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  Delivery by telecopier or other electronic transmission of an executed counterpart of a signature page to this Amendment, including by email with a pdf copy hereof attached, shall be effective as delivery of an original executed counterpart of this Amendment.
		

		
			 
		

		
			SECTION 8.GOVERNING LAW.  THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.
		

		
			 
		

		
			SECTION 9.WAIVER OF RIGHT OF TRIAL BY JURY
		

		
			.  EACH PARTY TO THIS AMENDMENT HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION ARISING UNDER this amendment, OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO the credit agreement as amended hereby, OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER FOUNDED IN CONTRACT OR TORT OR OTHERWISE; AND EACH PARTY HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY, AND THAT ANY PARTY TO THIS AGREEMENT MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION 9 WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE SIGNATORIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY.
		

		
			[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
		

		
			 
		

		
			

		 

		

			Signature Page to Repricing Amendment to Amended and Restated Credit Agreement

		

		

			 

		

 

IN WITNESS WHEREOF, the parties have caused this Repricing Amendment to Amended and Restated Credit Agreement to be executed by their respective authorized officers as of the date first above written.
		

			
					
						 

					
					
						 

				
	
					
						 

					
					
						ZAYO GROUP, LLC,

				
	
					
						 

					
					
						as a Borrower

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:      /s/ Ken desGarennes _______________

				
	
					
						 

					
					
						Name: Ken desGarennes

				
	
					
						 

					
					
						Title:   Chief Financial Officer

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						ZAYO CAPITAL, INC.,

				
	
					
						 

					
					
						as a Borrower

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:      /s/ Ken desGarennes _______________

				
	
					
						 

					
					
						Name: Ken desGarennes

				
	
					
						 

					
					
						Title:   Chief Financial Officer

				

		
			
		

		
			

		 

		

			Signature Page to Repricing Amendment to Amended and Restated Credit Agreement

		

		

			 

		

 

 
		

			
					
						 

					
					
						Morgan Stanley Senior Funding, Inc.,

				
	
					
						 

					
					
						as Term Facility Administrative Agent

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:      /s/ Reagan C. Philipp_______________

				
	
					
						 

					
					
						Name: Reagan Philipp

				
	
					
						 

					
					
						Title:   Authorized Signatory

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				

		
			
		

		

		 

		

			Signature Page to Repricing Amendment to Amended and Restated Credit Agreement

		

		

			 

		

 

	
					
						 

					
					
						SUNTRUST BANK,

				
	
					
						 

					
					
						as Revolving Facility Administrative Agent

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:      /s/ Hays Wood____________________

				
	
					
						 

					
					
						Name: Hays Wood

				
	
					
						 

					
					
						Title:   Vice President

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				

		
			 
		

		
			 
		

		
			

		 

		

			Signature Page to Repricing Amendment to Amended and Restated Credit Agreement

		

		

			 

		

 

Lender Signature Pages On File with the Term Facility Administrative Agent
		

		
			
		

		
			

		 

		

			 

		

 

 
		

		
			ANNEX A

2021 Term Loan Facility and 2016 Incremental Term Loan Facility
		

		
			On File with the Term Loan Administrative Agent
		

		
			 
		

		
			
		

		
			EXHIBIT A

FORM OF ASSIGNMENT AND ACCEPTANCE
		

		
			Reference is made to that certain Amendment and Restatement Agreement, dated as of May 6, 2015, by and among Zayo Group, LLC, a Delaware limited liability company (the “Administrative Borrower”), Zayo Capital, Inc., a Delaware corporation (“Zayo Capital”; and together with the Administrative Borrower, each, individually, a “Borrower” and, collectively, the “Borrowers”), the Persons party thereto from time to time as Guarantors, the financial institutions party thereto from time to time as lender (the “Lenders”), SUNTRUST BANK, as the Issuing Bank, SUNTRUST BANK, as the Collateral Agent, MORGAN STANLEY SENIOR FUNDING, INC., as administrative agent for the Term Loan Facility (in such capacity, the “Term Facility Administrative Agent”), and SUNTRUST BANK, as the administrative agent for the Revolving Loan Facility (in such capacity, the “Revolving Facility Administrative Agent” and, together with the Term Facility Administrative Agent, each, individually an “Administrative Agent” and, collectively, the “Administrative Agents”), whereby that certain Credit Agreement, dated as of July 2, 2012 (as amended by that certain Amendment No. 1 to Credit Agreement, dated as of July 17, 2012, that certain Amendment No. 2 to Credit Agreement, dated as of October 5, 2012, that certain Amendment No. 3 to Credit Agreement, dated as of February 1, 2013, that certain Amendment No. 4 to Credit Agreement, dated as of February 27, 2013, that certain Amendment No. 5 to Credit Agreement, dated as of November 26, 2013, that certain Amendment No. 6 to Credit Agreement, dated as of May 16, 2014 and that certain Amendment No. 7 to Credit Agreement, dated as of April 17, 2015) was amended and restated in its entirety in the form of that certain Amended and Restated Credit Agreement, dated as of May 6, 2015 (as amended by that certain Incremental Amendment to Amended and Restated Credit Agreement, dated as of January 15, 2016, the “Credit Agreement”; capitalized terms not defined herein have the meanings set forth therein), among the Borrowers, the Persons party thereto from time to time as Guarantors, the Lenders from time to time party thereto and the Administrative Agents.
		

		
			The “Assignor” and the “Assignee” referred to on Schedule 1 agree as follows:
		

		
			The Assignor hereby sells and assigns to the Assignee without recourse, and the Assignee hereby purchases and assumes from the Assignor, an interest in and to the Assignor’s rights and obligations under the Credit Agreement as of the date hereof equal to the percentage interest specified on Schedule 1 of all outstanding rights and obligations under the Credit Agreement.  After giving effect to such sale and assignment, the Assignee’s Commitment and the amount of the Loans owing to the Assignee will be as set forth on Schedule 1.
		

		
			The Assignor (a) represents and warrants that it is the legal and beneficial owner of the interest being assigned by it hereunder and that such interest is free and clear of any adverse claim, (b) makes no representation or warranty and assumes no responsibility with respect to any statements, warranties or representations made in or in connection with the Loan Documents or the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Loan Documents or any other instrument or document furnished pursuant thereto, and (c) makes no representation or warranty and assumes no responsibility with respect to the financial condition of the Borrowers or the performance or observance by the Borrowers of any of their obligations under the Loan Documents or any other instrument or document furnished pursuant thereto.
		

		
			The Assignee (a) confirms that it has received a copy of the Credit Agreement, 
		

		
			
		

		
			

		 

		

			2

		

		

			 

		

 

together with copies of the most recent financial statements delivered thereunder and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Assignment and Acceptance, (b) agrees that it will, independently and without reliance upon the applicable Administrative Agent, the Assignor or any other Lender and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit Agreement, (c) confirms that it is an Eligible Assignee, (d) appoints and authorizes the applicable Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under the Credit Agreement as are delegated to such Administrative Agent by the terms thereof, together with such powers and discretion as are reasonably incidental thereto, (e) agrees that it will perform in accordance with their terms all of the obligations that by the terms of the Credit Agreement are required to be performed by it as a Lender, and (f) attaches any U.S. Internal Revenue Service forms required under Section 2.8(b)(v) of the Credit Agreement.
		

		
			Following the execution hereof, the Assignor and the Assignee shall deliver this Assignment and Acceptance, along with (a) a processing and recordation fee of $3,500 payable by the Assignee to the applicable Administrative Agent and (b) if the Assignee is not a Lender, a completed Administrative Questionnaire, for acceptance and recording by the applicable Administrative Agent.  Unless otherwise indicated on Schedule 1, the effective date for this Assignment and Acceptance (the “Effective Date”) shall be the date of acceptance hereof by the applicable Administrative Agent.
		

		
			Upon such acceptance and recording by the applicable Administrative Agent, as of the Effective Date, (a) the Assignee shall be a party to the Credit Agreement and, to the extent provided in this Assignment and Acceptance and the Credit Agreement, shall have the rights and obligations of a Lender thereunder, and (b) the Assignor shall, to the extent provided in this Assignment and Acceptance and the Credit Agreement, relinquish its rights and be released from its obligations under the Credit Agreement.
		

		
			Upon such acceptance and recording by the applicable Administrative Agent, from and after the Effective Date, such Administrative Agent shall make all payments under the Credit Agreement in respect of the interest assigned hereby (including, without limitation, all payments of principal, interest and commitment fees with respect thereto) to the Assignee. The Assignor and Assignee shall make all appropriate adjustments in payments under the Credit Agreement for periods prior to the Effective Date directly between themselves.
		

		
			This Assignment and Acceptance shall be governed by, and construed in accordance with, the laws of the State of New York.
		

		
			This Assignment and Acceptance may be executed in any number of counterparts, each of which shall be deemed to be an original, but all such separate counterparts shall together constitute but one and the same agreement.  In proving this Assignment and Acceptance in any judicial proceedings, it shall not be necessary to produce or account for more than one such counterpart signed by the party against whom such enforcement is sought.  Any signatures delivered by a party by facsimile transmission or by other electronic transmission shall be deemed an original signature hereto.
		

		
			
		

		
			

		 

		

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			IN WITNESS WHEREOF, the Assignor and the Assignee have caused this Assignment and Acceptance to be executed by their authorized signatory as of the date specified thereon.
		

		
			 
		

			
					
						 

					
					
						[NAME OF ASSIGNOR], as the Assignor

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:                                       

				
	
					
						 

					
					
						Name:                                  

				
	
					
						 

					
					
						Title:                                    

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						Date:                    , 20          

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						[NAME OF ASSIGNEE], as the Assignee

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:                                       

				
	
					
						 

					
					
						Name:                                  

				
	
					
						 

					
					
						Title:                                    

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						Date:                    , 20          

				

		
			 
		

		
			ACCEPTED [AND APPROVED]1 THIS         DAY 
OF               , 20         :
		

		
			[SUNTRUST BANK, as the Administrative Agent for the Revolving Loan Facility
		

		
			By:                                                                  
Name:                                                             
Title:                                                               ]2
		

		
			[MORGAN STANLEY, as the Administrative Agent for the Term Loan Facility
		

		
			By:                                                                  
Name:                                                             
Title:                                                               ]3
		

		
			[ZAYO GROUP, LLC, as Administrative Borrower, on behalf of the Borrowers
		

		
			By:                                                                  
Name:                                                             
Title:                                                               ]4
		

		
			 
		

		
			1  If required under the definition of Eligible Assignee or Section 11.5(b) of the Credit Agreement
		

		
			2  If applicable.
		

		
			3  If applicable.
		

		
			4  If required under the definition of Eligible Assignee or Section 11.5(b) of the Credit Agreement
		

		
			
		

		
			

		 

		

			 

		

 

 
		

		
			SCHEDULE 1
		

		
			ASSIGNMENT AND ACCEPTANCE
		

			
					
						Type of Commitment/Loan Assigned: [Revolving Loan] [Term Loan]

					
						Commitment/Loans of Assignor prior to assignment:

					
					
						$                      

				
	
					
						Commitment/Loans assigned to Assignee:

					
					
						$                      

				
	
					
						Commitment/Loans of Assignor after assignment:

					
					
						$                      

				
	
					
						Commitment/Loans Ratio of Assignee after assignment:  

					
					
						                     %

				
	
					
						The Assignee’s Domestic Lending Office:

					
					
						                                                       
                                                       
                                                       

				
	
					
						The Assignee’s Eurodollar Lending Office:

					
					
						                                                       
                                                       
                                                       

				
	
					
						Effective Date (if other than date of acceptance by the applicable Administrative Agent):

					
					
						______________, 20___

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