Document:

EX-10.1

 Exhibit 10.1 

FIRST AMENDMENT TO CREDIT AGREEMENT 

THIS FIRST AMENDMENT TO CREDIT AGREEMENT dated as of March 29, 2018 (this “Agreement”) is entered into among OWENS &
MINOR DISTRIBUTION, INC., a Virginia corporation (“Distribution”), OWENS & MINOR MEDICAL, INC., a Virginia corporation (“Medical”), BARISTA ACQUISITION I, LLC, a Virginia limited liability company
(“Barista I”), BARISTA ACQUISITION II, LLC, a Virginia limited liability company (“Barista II”; Barista II, together with Distribution, Medical and Barista I, each a “Borrower” and collectively the
“Borrowers”), OWENS & MINOR, INC., a Virginia corporation (the “Parent”), the other Guarantors party hereto, the Banks party hereto and WELLS FARGO BANK, N.A., as administrative agent for the Banks (in such
capacity, the “Administrative Agent”). All capitalized terms used herein and not otherwise defined herein shall have the meanings given to such terms in the Credit Agreement (as defined below). 

RECITALS 
 WHEREAS, the
Borrowers, the Guarantors, the Banks and the Administrative Agent have entered into that certain Credit Agreement dated as of July 27, 2017 (as amended, modified, extended, restated, replaced, or supplemented from time to time, the
“Credit Agreement”); and 
 WHEREAS, the Borrowers have requested that the Banks amend the Credit Agreement as set forth
below. 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants contained herein, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

1.    Amendments. 

(a)    The definition of “Consolidated EBITDA” in Section 1.1 of the Credit Agreement is
hereby amended to read as follows: 
 “Consolidated EBITDA” means, for any period, in each case for the
members of the Consolidated Group on a consolidated basis, an amount equal to Consolidated Net Income for such period plus (a) the following, without duplication, to the extent deducted in calculating such Consolidated Net Income (other
than amounts specifically excluded from Consolidated Net Income under clauses (a) through (c) of the definition of Consolidated Net Income): (i) Consolidated Interest Expense for such period; (ii) taxes paid for such period;
(iii) depreciation and amortization for such period; (iv) all extraordinary or other non-recurring expenses and charges for such period which do not represent a cash item in such period (including
but not limited to items defined under GAAP such as losses on asset disposals, impairment losses on long-lived assets, exit and restructuring costs and goodwill impairment losses); provided, that, any expenses or charges incurred in
such period, during the fiscal years of the Parent ending December 31, 2017 and December 31, 2018, in connection with the Rapid Business Transformation and Client Engagement Centers reorganization and transformation shall not be added back
to Consolidated EBITDA pursuant to this clause (a)(iv) (it being understood and agreed that such expenses and charges may be added back pursuant to clause (a)(viii) below to the extent permitted pursuant to clause (a)(viii)
below); (v) expenses incurred in such period in connection with the issuance of stock options as compensation to employees and/or management of any member of the Consolidated Group; (vi) any costs and expenses incurred in such period in
connection with any Investment permitted 

 
pursuant to this Credit Agreement, any Acquisition permitted pursuant to this Credit Agreement, any Asset Disposition permitted pursuant to this Credit Agreement, any equity issuance permitted
pursuant to this Credit Agreement or any incurrence, payment, prepayment, refinancing or redemption of Indebtedness permitted pursuant to this Credit Agreement (including fees and expenses related to the Loans and LOC Obligations, and any
amendments, supplements and modifications thereof), including the amortization of deferred financing fees, debt issuance costs, commissions, fees and expenses, in each case, whether or not consummated; (vii) implementation costs incurred in
such period that are associated with Software as a Service (SaaS) as part of the adoption of ASU 2015-05; and (viii) all expenses and charges incurred in such period, during the fiscal years of the Parent
ending December 31, 2017 and December 31, 2018, in connection with the Rapid Business Transformation and Client Engagement Centers reorganization and transformation; provided, that, the aggregate amount of such expenses and
charges added back to Consolidated EBITDA pursuant to this clause (a)(viii) shall not exceed $35,200,000 during the term of this Credit Agreement; minus (b) the following, without duplication, to the extent included in calculating
such Consolidated Net Income: (i) all extraordinary or other non-recurring, non-cash items increasing such Consolidated Net Income for such period; and
(ii) any cash payments made during such period in respect of items described in clause (a)(iv) above subsequent to the fiscal quarter in which the relevant non-cash expenses or losses were
incurred. Notwithstanding the above, the adjustments in clauses (a)(iv) and (b) shall be limited to those amounts that are separately disclosed by the Parent in its Forms 10-K or 10-Q filed with the Securities and Exchange Commission. 
 (b)    The
definition of “Permitted Liens” in Section 1.1 of the Credit Agreement is hereby amended by (a) deleting the word “and” at the end of clause (q) thereof, (b) deleting the “.” at the end of clause
(r) thereof and replacing it with “; and” and (c) adding the following new clause (s) immediately after clause (r) thereof: 

(s)    Liens on the cash proceeds (and the related escrow account, and any money market funds or securities
in which such cash proceeds are temporarily invested during the applicable escrow period) of any issuance of Indebtedness permitted pursuant to Section 8.1 in connection with the cash proceeds of such Indebtedness being
placed into (and pending the release from) escrow. 
 (c)    Section 8.1(h) of the Credit Agreement is
hereby amended to read as follows: 
 (h)    (i) unsecured Funded Debt under the Senior Notes, and
(ii) other Funded Debt of the members of the Consolidated Group that is unsecured (other than by Liens permitted pursuant to clause (s) of the definition of “Permitted Liens”); provided that the Borrowers shall be
in compliance with the financial covenants in Section 7.10 on a Pro Forma Basis after giving effect to the incurrence of such other unsecured Funded Debt; 

(d)    Section 8.11 of the Credit Agreement is hereby amended to read as follows: 

8.11    Subsidiary Dividends. 

The Credit Parties will not permit any member of the Consolidated Group to enter into, assume or otherwise become subject to,
or permit any of their respective Subsidiaries (other than a Securitization Subsidiary pursuant to a Qualified Securitization Transaction permitted hereunder) to enter into, assume or otherwise become subject to,

  
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any agreement prohibiting or otherwise restricting the payment of dividends by any of the Parent’s Subsidiaries (other than a Securitization Subsidiary pursuant to a Qualified Securitization
Transaction permitted hereunder) to the Parent or any other member of the Consolidated Group. 
 2.    Condition
Precedent. This Agreement shall become effective upon receipt by the Administrative Agent of counterparts of this Agreement duly executed by the Borrowers, the Guarantors, the Required Banks and the Administrative Agent. 

3.    Expenses. The Credit Parties agree to reimburse the Administrative Agent for all reasonable documented out-of-pocket costs and expenses of the Administrative Agent in connection with the preparation, execution and delivery of this Agreement, including without limitation the
reasonable documented fees and expenses of Moore & Van Allen PLLC. 
 4.    Miscellaneous. 

(a)    The Credit Agreement and the obligations of the Credit Parties thereunder and under the other Credit
Documents, are hereby ratified and confirmed and shall remain in full force and effect according to their terms. This Agreement shall constitute a Credit Document. 

(b)    Each Guarantor (i) acknowledges and consents to all of the terms and conditions of this
Agreement, (ii) affirms all of its obligations under the Credit Documents and (iii) agrees that this Agreement and all documents executed in connection herewith do not operate to reduce or discharge its obligations under the Credit
Agreement or the other Credit Documents. 
 (c)    Each Credit Party hereby represents and warrants as
follows: (i) such Credit Party has taken all necessary corporate or other organizational action to authorize the execution, delivery and performance of this Agreement; (ii) this Agreement has been duly executed and delivered by such Credit
Party and constitutes the legal, valid and binding obligation of such Credit Party, enforceable against such Credit Party in accordance with its terms, except as may be limited by bankruptcy or insolvency laws or similar laws affecting
creditors’ rights generally or by general equitable principles; and (iii) no consent, approval, authorization or order of, or filing, registration or qualification with, any Governmental Authority or any other Person is necessary or
required in connection with the execution, delivery or performance by such Credit Party of this Agreement (or, if required, such consent, approval and authorization has been obtained). 

(d)    The Credit Parties represent and warrant to the Banks that, after giving effect to this Agreement,
(i) the representations and warranties made by the Credit Parties in the Credit Agreement and in the other Credit Documents and which are contained in any certificate furnished at any time under or in connection therewith are true and correct
in all material respects on and as of the date hereof as if made on and as of such date (except (A) for those which expressly relate to an earlier date, in which case they were true and correct as of such earlier date, and (B) to the
extent any such representation and warranty is qualified by materiality or reference to Material Adverse Effect, in which case, such representation and warranty is true and correct in all respects), and (ii) no Default or Event of Default has
occurred and is continuing. 
 (e)    This Agreement may be executed in any number of counterparts, each
of which when so executed and delivered shall be an original, but all of which shall constitute one and the same instrument. It shall not be necessary in making proof of this Agreement to produce or account for more than one such counterpart for
each of the parties hereto. Delivery by facsimile by any of the parties hereto of an executed counterpart of this Agreement shall be as effective as an original executed counterpart hereof and shall be deemed a representation that an original
executed counterpart hereof will be delivered. 

  
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 (f)    THIS AGREEMENT AND ANY CLAIMS, CONTROVERSY, DISPUTE OR
CAUSE OF ACTION (WHETHER IN CONTRACT OR TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

 [Signature Pages to Follow] 

  
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 Each of the parties hereto has caused a counterpart of this Agreement to be duly executed and
delivered as of the date first above written. 
  

							
	BORROWERS:	 		 	OWENS & MINOR DISTRIBUTION, INC.,
		 		 	a Virginia corporation
				
		 		 	By:	 	 /s/ Nicholas J. Pace

		 		 	Name:	 	Nicholas J. Pace
		 		 	Title:	 	SVP, General Counsel & Corporate Secretary, Director
			
		 		 	OWENS & MINOR MEDICAL, INC.,
		 		 	a Virginia corporation
				
		 		 	By:	 	 /s/ Nicholas J. Pace

		 		 	Name:	 	Nicholas J. Pace
		 		 	Title:	 	SVP, General Counsel & Corporate Secretary, Director
			
		 		 	BARISTA ACQUISITION I, LLC,
		 		 	a Virginia limited liability company
				
		 		 	By:	 	 /s/ Nicholas J. Pace

		 		 	Name:	 	Nicholas J. Pace
		 		 	Title:	 	SVP, General Counsel & Corporate Secretary
			
		 		 	BARISTA ACQUISITION II, LLC,
		 		 	a Virginia limited liability company
				
		 		 	By:	 	 /s/ Nicholas J. Pace

		 		 	Name:	 	Nicholas J. Pace
		 		 	Title:	 	SVP, General Counsel & Corporate Secretary
			
	GUARANTORS:	 		 	OWENS & MINOR, INC.,
		 		 	a Virginia corporation
				
		 		 	By:	 	 /s/ Nicholas J. Pace

		 		 	Name:	 	Nicholas J. Pace
		 		 	Title:	 	EVP, General Counsel, Corporate Secretary & Communications
			
		 		 	O&M HALYARD, INC.,
		 		 	a Virginia corporation
				
		 		 	By:	 	 /s/ Nicholas J. Pace

		 		 	Name:	 	Nicholas J. Pace
		 		 	Title:	 	SVP, General Counsel & Corporate Secretary, Director

  
 FIRST AMENDMENT TO CREDIT
AGREEMENT 
 OWENS & MINOR, INC. 

							
	ADMINISTRATIVE AGENT:	 		 	WELLS FARGO BANK, N.A.,
		 		 	in its capacity as Administrative Agent
				
		 		 	By:	 	 /s/ Andrea S Chen

		 		 	Name:	 	Andrea S Chen
		 		 	Title:	 	Managing Director

  
 FIRST AMENDMENT TO CREDIT
AGREEMENT 
 OWENS & MINOR, INC. 

							
	BANKS:	 		 	WELLS FARGO BANK, N.A.,
		 		 	in its capacity as a Bank, Issuing Bank and the Swingline Bank
				
		 		 	By:	 	 /s/ Andrea S Chen

	 	 	 	 	Name:	 	Andrea S Chen
	 	 	 	 	Title:	 	Managing Director

  
 FIRST AMENDMENT TO CREDIT
AGREEMENT 
 OWENS & MINOR, INC. 

 
			
	 BANK OF AMERICA, N.A.,
 in its
capacity as a Bank and an Issuing Bank

		
	By:	 	 /s/ Darren Merten

	Name:	 	Darren Merten
	Title:	 	Vice President

  
 FIRST AMENDMENT TO CREDIT
AGREEMENT 
 OWENS & MINOR, INC. 

			
	 JPMORGAN CHASE BANK, N.A.,
 in its
capacity as a Bank and an Issuing Bank

		
	By:	 	 /s/ Joon Hur

	Name:	 	Joon Hur
	Title:	 	Executive Director

  
 FIRST AMENDMENT TO CREDIT
AGREEMENT 
 OWENS & MINOR, INC. 

 
			
	 SUNTRUST BANK,
 in its capacity
as a Bank

		
	By:	 	 /s/ Philip VanFossan

	Name:	 	Philip VanFossan
	Title:	 	Vice President

  
 FIRST AMENDMENT TO CREDIT
AGREEMENT 
 OWENS & MINOR, INC. 

 
			
	 PNC BANK, NATIONAL ASSOCIATION,
 in
its capacity as a Bank

		
	By:	 	 /s/ Carolyn L. West

	Name:	 	Carolyn L. West
	Title:	 	Senior Vice President

  
 FIRST AMENDMENT TO CREDIT
AGREEMENT 
 OWENS & MINOR, INC. 

 
			
	 US BANK NATIONAL ASSOCIATION,
 in
its capacity as a Bank

		
	By:	 	 /s/ Joseph M.
Schnorr                                

	Name:	 	Joseph M. Schnorr
	Title:	 	Senior Vice Present

  
 FIRST AMENDMENT TO CREDIT
AGREEMENT 
 OWENS & MINOR, INC. 

 
			
	 THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.,

in its capacity as a Bank

		
	By:	 	 /s/ Kevin
Wood                                        

	Name:	 	Kevin Wood
	Title:	 	Director

  
 FIRST AMENDMENT TO CREDIT
AGREEMENT 
 OWENS & MINOR, INC. 

 
			
	 BRANCH BANKING & TRUST COMPANY,

in its capacity as a Bank

		
	By:	 	 /s/ J. Carlos Navarrete

	Name:	 	J. Carlos Navarrete
	Title:	 	Vice President

  
 FIRST AMENDMENT TO CREDIT
AGREEMENT 
 OWENS & MINOR, INC. 

 
			
	 CITIBANK, N.A.,
 in its capacity as
a Bank

		
	By:	 	 /s/ Eugene Yermash

	Name:	 	Eugene Yermash
	Title:	 	Vice President

  
 FIRST AMENDMENT TO CREDIT
AGREEMENT 
 OWENS & MINOR, INC. 

 
			
	 HSBC BANK USA, NATIONAL ASSOCIATION,

in its capacity as a Bank

		
	By:	 	 /s/ Matthew Brannon

	Name:	 	Matthew Brannon
	Title:	 	Vice President

  
 FIRST AMENDMENT TO CREDIT
AGREEMENT 
 OWENS & MINOR, INC.Exhibit

SUBSCRIPTION AGREEMENT
 
    
This Subscription Agreement (this “Agreement”), dated April 16, 2018, is being delivered to Andrew Burish (the “Subscriber”) in connection with his investment in the securities of Sonic Foundry, Inc. a Maryland corporation (“Sonic Foundry”).  Sonic Foundry is issuing up to 232,558  units (the “Units”) at a purchase price of $ 2.15 per Unit (the “Purchase Price”) with each Unit consisting of (i) one share (the “Shares”) of Sonic Foundry’s common stock, par value $0.001 per share, (the “Common Stock”), and (ii) a warrant which expires on April 16, 2025, in the form attached hereto as Exhibit A (the “Warrant”) to purchase one (1) share of Common Stock (the “Warrant Shares”) at an exercise price of $2.50 per share.  For purposes of this Agreement, the term “Securities” shall refer to the Common Stock, the Warrants, and the Warrant Shares.

     
This Subscription Agreement is on the terms and conditions set forth below.

1.           SUBSCRIPTION AND PURCHASE PRICE
 
(a)           Subscription.  Subject to the conditions set forth in Section 2 hereof, the Subscriber hereby subscribes for and agrees to purchase 232,558 Units on the terms and conditions described herein.
 
(b)         Purchase of Units.  The Subscriber understands and acknowledges that the purchase price to be remitted to Sonic Foundry in exchange for the Units shall be set at $2.15 per Unit, for an aggregate purchase price of $500,000.00 (the “Aggregate Purchase Price”) for 232,558 Units. The Subscriber’s delivery of this Agreement to Sonic Foundry shall be accompanied by payment for the Units subscribed for hereunder, payable in United States Dollars, by wire transfer of immediately available funds delivered to Sonic Foundry.  The Subscriber understands and agrees that, subject to Section 2 and applicable laws, by executing this Agreement, it is entering into a binding agreement.

  2.           ACCEPTANCE AND CLOSING PROCEDURES
 
(a)           Acceptance. Subject to full, faithful and punctual performance and discharge by Sonic Foundry of all of its duties, obligations and responsibilities as set forth in this Agreement, the Subscriber shall be legally bound to purchase the Units described herein pursuant to the terms and conditions set forth in this Agreement.  
  
(b)           Closing.  The closing of the purchase and sale of the Units hereunder (the “Closing”) shall take place at such time and place as determined by Sonic Foundry.  The Closing shall take place as soon as practicable following the execution of this Agreement. The Shares and the Warrants purchased by the Subscriber will be delivery promptly following the Closing Date of the Offering. 

3.           THE SUBSCRIBER’S REPRESENTATIONS, WARRANTIES AND COVENANTS
 
The Subscriber, hereby acknowledges, agrees with and represents, warrants and covenants to Sonic Foundry, as follows:
 
(a)           The Subscriber has full power and authority to enter into this Agreement, the execution and delivery of which has been duly authorized, and this Agreement constitutes a valid and legally binding obligation of the Subscriber, except as may be limited by bankruptcy, reorganization, insolvency, moratorium and similar laws of general application relating to or affecting the enforcement of rights of creditors, and except as enforceability of the obligations hereunder are subject to general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or law).
 
(b)          The Subscriber represents and warrants to Sonic Foundry and its affiliates as follows            

(i)           The Subscriber is acquiring the Units solely for the Subscriber’s own  beneficial account, for investment    purposes, and not with a view towards, or resale in connection with, any distribution of the Units.
 
(ii)           The Subscriber (together with his Advisors, if any) has received all documents requested by the Subscriber, if any, and has carefully reviewed them and understands the information contained therein, prior to the execution of this Agreement.

(c)     The Subscriber understands that none of the Securities have been registered under the Securities Act of 1933 (the “Securities Act”), the securities laws of any state or the securities laws of any other jurisdiction, nor is such registration contemplated.
    
(d)     The Subscriber (i) will not transfer, deliver or assign any of the Securities, or any interest therein, except in accordance with state and federal securities laws and (ii) is acquiring the Securities to be acquired hereunder for the Subscriber’s own account for investment purposes only and not with a view to assignment, resale or distribution.  The Subscriber will not transfer the Securities unless such Securities are registered under the Securities Act and applicable state securities laws or the transfer is exempt therefrom. The Subscriber understands that Sonic Foundry is making no representation as to the availability of Rule 144 under the Securities Act or any other exemption from registration.

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

(f)           No oral or written representations or warranties have been made, or information furnished, to the Subscriber or his Advisors, if any, by Sonic Foundry or any of its officers, employees, agents, sub-agents, affiliates, advisors or subsidiaries in connection with the purchase of the Units hereby, other than any representations of Sonic Foundry contained herein, and in subscribing for the Units the Subscriber is not relying upon any representations other than those contained herein.

(g)           The Subscriber is not relying on Sonic Foundry or any of its employees, agents, sub-agents or advisors with respect to the legal, tax, economic and related considerations involved in this investment. The Subscriber has relied on the advice of, or has consulted with, only his Advisors. 

(h)           In making the decision to invest in the Securities, the Subscriber has retained, or has had the opportunity to retain, at his own expense, and relied upon appropriate professional advice regarding the investment, tax and legal merits and consequences of this Agreement and the purchase of the Units hereunder.  The Subscriber disclaims reliance on any statements made or information provided by any officer, director, or employee of Sonic Foundry.

(i)           The Subscriber has taken no action that would give rise to any claim by any person for brokerage commissions, finders’ fees or the like relating to this Agreement or the transactions contemplated hereby.
 
 
 4.           SONIC FOUNDRY’S REPRESENTATIONS, WARRANTIES AND COVENANTS
 
Sonic Foundry hereby acknowledges, agrees with and represents, warrants and covenants to the Subscriber, as follows:
 
(a) Organization and Qualification.  Sonic Foundry is a corporation duly organized, validly existing and in good standing under the laws of its state of incorporation.  All actions on the part of Sonic Foundry and its officers and directors necessary for the authorization, execution, delivery and performance of this Agreement, the consummation of the transactions contemplated hereby, and the performance of all of Sonic Foundry's obligations under this Agreement, have been taken or will be taken prior to the Closing.  This Agreement has been duly executed and delivered by Sonic Foundry, and this Agreement is a legal, valid and binding obligation of Sonic Foundry, enforceable against Sonic Foundry in accordance with its terms, except as may be limited by bankruptcy, reorganization, insolvency, moratorium and similar laws of general application relating to or affecting the enforcement of rights of creditors, and except as enforceability of the obligations hereunder are subject to general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or law).
 
(b)           The Shares and the Issuance of the Warrant Shares.  The Shares are duly and validly issued and are fully paid and non-assessable, and the Warrant Shares to be issued to the Subscriber upon exercise of the Warrants, will be duly and validly issued and will be fully paid and non-assessable.

        
 5.           MISCELLANEOUS PROVISIONS
 
(a)           All parties hereto have been represented by counsel, and no inference shall be drawn in favor of or against any party by virtue of the fact that such party’s counsel was or was not the principal draftsman of this Agreement.
 
(b)           Each of the parties hereto shall be responsible to pay the costs and expenses of its own legal counsel in connection 

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

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

IN WITNESS WHEREOF, the Subscriber has executed this Agreement on the 16th day of April, 2018.
 
_________________________
Andrew Burish
Address:
_________________________
_________________________
_________________________

ACCEPTED this 16th day of April, 2018, on behalf of Sonic Foundry, Inc.

By: ______________________
Name: Gary Weis
Title: CEO

 
 
 

 

 

 

 

 

 

 

 

 

 

 

 

 [SIGNATURE PAGE FOR SUBSCRIPTION AGREEMENT]

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