Document:

Exhibit 10.3

 

REVOLVING
CREDIT NOTE

 

	$42,954,545.46	July
    17, 2017

 

FOR
VALUE RECEIVED, the undersigned, ZAGG INC, a Delaware corporation (the “Borrower”), promises to pay, on the last day
of the Commitment Period, as defined in the Credit Agreement (as hereinafter defined), to the order of ZB, N.A. DBA ZIONS FIRST
NATIONAL BANK (“Lender”) at the main office of KEYBANK NATIONAL ASSOCIATION, as the Administrative Agent, as hereinafter
defined, 127 Public Square, Cleveland, Ohio 44114-1306 the principal sum of

 

FORTY-TWO
MILLION NINE HUNDRED FIFTY-FOUR THOUSAND FIVE HUNDRED FORTY-FIVE AND 46/100 -----------------------------------------------------------------------DOLLARS

 

or
the aggregate unpaid principal amount of all Revolving Loans, as defined in the Credit Agreement, made by Lender to the Borrower
pursuant to Section 2.2(a) of the Credit Agreement, whichever is less, in lawful money of the United States of America.

 

As
used herein, “Credit Agreement” means the Credit and Security Agreement dated as of March 3, 2016, among the Borrower,
the Lenders, as defined therein, and KeyBank National Association, as the administrative agent for the Lenders (the “Administrative
Agent”), as amended and as the same may from time to time be further amended, restated or otherwise modified. Each capitalized
term used herein that is defined in the Credit Agreement and not otherwise defined herein shall have the meaning ascribed to it
in the Credit Agreement.

 

The
Borrower also promises to pay interest on the unpaid principal amount of each Revolving Loan from time to time outstanding, from
the date of such Revolving Loan until the payment in full thereof, at the rates per annum that shall be determined in accordance
with the provisions of Section 2.4(a) of the Credit Agreement. Such interest shall be payable on each date provided for in such
Section 2.4(a); provided that interest on any principal portion that is not paid when due shall be payable on demand.

 

The
portions of the principal sum hereof from time to time representing Base Rate Loans and Eurodollar Loans, interest owing thereon
and payments of principal and interest of any thereof, shall be shown on the records of Lender by such method as Lender may generally
employ; provided that failure to make any such entry shall in no way detract from the obligations of the Borrower under this Note
or the Credit Agreement.

 

If
this Note shall not be paid at maturity, whether such maturity occurs by reason of lapse of time or by operation of any provision
for acceleration of maturity contained in the Credit Agreement, the principal hereof and the unpaid interest thereon shall bear
interest, pursuant to the terms of the Credit Agreement, until paid, at a rate per annum equal to the Default Rate. All payments
of principal of and interest on this Note shall be made in immediately available funds.

 

This
Note is one of the Revolving Credit Notes referred to in the Credit Agreement and is entitled to the benefits thereof. Reference
is made to the Credit Agreement for a description of the right of the undersigned to anticipate payments hereof, the right of
the holder hereof to declare this Note due prior to its stated maturity, and other terms and conditions upon which this Note is
issued.

 

Except
as expressly provided in the Credit Agreement, the Borrower expressly waives presentment, demand, protest and notice of any kind.
This Note shall be governed by and construed in accordance with the laws of the State of New York.

 

JURY
TRIAL WAIVER. THE BORROWER, TO THE EXTENT PERMITTED BY LAW, HEREBY WAIVES ANY RIGHT TO HAVE A JURY PARTICIPATE IN RESOLVING
ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE, AMONG THE BORROWER, THE ADMINISTRATIVE AGENT AND THE LENDERS, OR
ANY THEREOF, ARISING OUT OF, IN CONNECTION WITH, RELATED TO, OR INCIDENTAL TO THE RELATIONSHIP ESTABLISHED AMONG THEM IN CONNECTION
WITH THIS NOTE OR ANY OTHER NOTE OR INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION HEREWITH OR THE TRANSACTIONS
RELATED THERETO.

 

	 	ZAGG
    INC
	 	 	 
	 	By:	/s/
                                         RANDALL L. HALES

        

        

	 	 	Randall
    L. Hales
	 	 	PresidentExhibit 10.4

 

REVOLVING
CREDIT NOTE

 

	$42,954,545.46	July 17, 2017

 

FOR
VALUE RECEIVED, the undersigned, ZAGG INC, a Delaware corporation (the “Borrower”), promises to pay, on the last day
of the Commitment Period, as defined in the Credit Agreement (as hereinafter defined), to the order of JPMORGAN CHASE BANK, N.A.
(“Lender”) at the main office of KEYBANK NATIONAL ASSOCIATION, as the Administrative Agent, as hereinafter defined,
127 Public Square, Cleveland, Ohio 44114-1306 the principal sum of

 

FORTY-TWO
MILLION NINE HUNDRED FIFTY-FOUR THOUSAND FIVE HUNDRED FORTY-FIVE AND 46/100 .......................................................DOLLARS

 

or
the aggregate unpaid principal amount of all Revolving Loans, as defined in the Credit Agreement, made by Lender to the Borrower
pursuant to Section 2.2(a) of the Credit Agreement, whichever is less, in lawful money of the United States of America.

 

As
used herein, “Credit Agreement” means the Credit and Security Agreement dated as of March 3, 2016, among the Borrower,
the Lenders, as defined therein, and KeyBank National Association, as the administrative agent for the Lenders (the “Administrative
Agent”), as amended and as the same may from time to time be further amended, restated or otherwise modified. Each capitalized
term used herein that is defined in the Credit Agreement and not otherwise defined herein shall have the meaning ascribed to it
in the Credit Agreement.

 

The
Borrower also promises to pay interest on the unpaid principal amount of each Revolving Loan from time to time outstanding, from
the date of such Revolving Loan until the payment in full thereof, at the rates per annum that shall be determined in accordance
with the provisions of Section 2.4(a) of the Credit Agreement. Such interest shall be payable on each date provided for in such
Section 2.4(a); provided that interest on any principal portion that is not paid when due shall be payable on demand.

 

The
portions of the principal sum hereof from time to time representing Base Rate Loans and Eurodollar Loans, interest owing thereon
and payments of principal and interest of any thereof, shall be shown on the records of Lender by such method as Lender may generally
employ; provided that failure to make any such entry shall in no way detract from the obligations of the Borrower under this Note
or the Credit Agreement.

 

If
this Note shall not be paid at maturity, whether such maturity occurs by reason of lapse of time or by operation of any provision
for acceleration of maturity contained in the Credit Agreement, the principal hereof and the unpaid interest thereon shall bear
interest, pursuant to the terms of the Credit Agreement, until paid, at a rate per annum equal to the Default Rate. All payments
of principal of and interest on this Note shall be made in immediately available funds.

 

This
Note is one of the Revolving Credit Notes referred to in the Credit Agreement and is entitled to the benefits thereof. Reference
is made to the Credit Agreement for a description of the right of the undersigned to anticipate payments hereof, the right of
the holder hereof to declare this Note due prior to its stated maturity, and other terms and conditions upon which this Note is
issued.

 

Except
as expressly provided in the Credit Agreement, the Borrower expressly waives presentment, demand, protest and notice of any kind.
This Note shall be governed by and construed in accordance with the laws of the State of New York.

 

JURY
TRIAL WAIVER. THE BORROWER, TO THE EXTENT PERMITTED BY LAW, HEREBY WAIVES ANY RIGHT TO HAVE A JURY PARTICIPATE IN RESOLVING
ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE, AMONG THE BORROWER, THE ADMINISTRATIVE AGENT AND THE LENDERS, OR
ANY THEREOF, ARISING OUT OF, IN CONNECTION WITH, RELATED TO, OR INCIDENTAL TO THE RELATIONSHIP ESTABLISHED AMONG THEM IN CONNECTION
WITH THIS NOTE OR ANY OTHER NOTE OR INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION HEREWITH OR THE TRANSACTIONS
RELATED THERETO.

 

	 	ZAGG
                    INC

	 	 	 
	 	By:	/s/
    RANDALL L. HALES
	 	 	Randall
    L. Hales
	 	 	PresidentExhibit 10.5

THIRD
AMENDMENT ADMINISTRATIVE AGENT FEE LETTER

 

July
17, 2017

 

ZAGG
Inc

910
W. Legacy Center Way

Suite
500

Midvale,
UT 84047

 

Ladies
and Gentlemen:

 

Reference
is made to the Credit and Security Agreement, dated as of the 3rd day of March, 2016, among ZAGG Inc, a Delaware corporation
(the “Borrower”), the lenders from time to time party thereto (together with their respective successors and assigns,
collectively, the “Lenders” and, individually, each a “Lender”) and KeyBank National Association, as the
administrative agent for the Lenders (the “Administrative Agent”) (as the same may from time to time be amended, restated
or otherwise modified, the “Credit Agreement”). Reference is also made to that certain Third Amendment Agreement,
dated as of July 17, 2017, among the Borrower, the Administrative Agent and the Lenders (the “Third Amendment”).

 

Terms
used in this Third Amendment Administrative Agent Fee Letter (this “Letter”) not otherwise defined herein shall be
defined as set forth in the Credit Agreement. This Letter confirms the various fee arrangements between the Borrower and the Administrative
Agent in connection with the Third Amendment.

 

The
Borrower agrees to pay to the Administrative Agent, for its exclusive benefit and not for the benefit of the Lenders, on the Third
Amendment Effective Date, an arrangement fee in the amount of Fifty Thousand Dollars ($50,000).

 

The
fees provided for herein are nonrefundable and are in addition to any other fees and expenses payable under the Credit Agreement,
the Administrative Agent Fee Letter, the Third Amendment or any other Loan Document.

 

This
Letter may be executed in any number of counterparts, by different parties hereto in separate counterparts and by facsimile or
other electronic signature, each of which when so executed and delivered shall be deemed to be an original and all of which taken
together shall constitute but one and the same agreement.

 

This
Letter shall be binding upon and inure to the benefit of the Borrower and the Administrative Agent, and their respective successors
and assigns. This Letter is a Loan Document as defined in the Credit Agreement. The rights and obligations of all parties hereto
shall be governed by the laws of the State of New York.

 

	 	Sincerely
    yours,
	 	 
	 	KEYBANK
                                         NATIONAL ASSOCIATION

     as
the Administrative Agent

	 	 	 
	 	By:	/s/
    MICHAEL GUTIA
	 	 	Michael
    Gutia
	 	 	Vice
    President

 

The
undersigned agrees to the terms hereof and agrees to be bound thereby.

 

	 	ZAGG
                    INC

	 	 	 
	 	By:	/s/
    RANDALL L. HALES
	 	 	Randall
    L. Hales
	 	 	President

 

 

 

 

Signature Page to

Third Amendment Administrative Agent Fee Letter

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