Document:

EX-10.9

 Exhibit 10.9 

DIRECTOR NOMINATION AGREEMENT 

THIS DIRECTOR NOMINATION AGREEMENT (this “Agreement”) is made and entered into as of [•], 2021, by and among The Better
Being Co., a Delaware corporation (the “Company”), Norway Holdings, LP (together with its affiliated investment entities, “HGGC”) and Maze Consulting LLC and Snapdragon Capital Partners LLC (together with their
respective affiliated investment entities, “M&S”, and collectively with HGGC, the “Lead Sponsors”). This Agreement shall be effective from the date hereof (the “Effective Date”). 

WHEREAS, as of the date hereof, the Lead Sponsors and/or their respective affiliates collectively own a majority of the outstanding
partnership interests in Norway Topco, LP, a Delaware limited partnership (“Norway Topco”), which, as of the date hereof, owns all of the outstanding equity interests in the Company; 

WHEREAS, the Lead Sponsors are contemplating causing the Company to effect an initial public offering (the “IPO”) of shares
of its common stock, par value $0.001 per share (the “Common Stock”); 
 WHEREAS, the Lead Sponsors currently have the
authority to appoint all directors of the Company; and 
 WHEREAS, in consideration of the Lead Sponsors agreeing to undertake the IPO, the
Company has agreed to permit the Lead Sponsors to designate persons for nomination for election to the board of directors of the Company (the “Board”) following the Effective Date on the terms and conditions set forth herein. 

NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, each of the parties to this Agreement agrees as follows: 
 1. Board Nomination Rights.

 (a) From the Effective Date, HGGC shall have the right, but not the obligation, to nominate to the Board a number of designees equal to
at least: (i) 60% of the Total Number of Directors (as defined below), so long as HGGC Beneficially Owns shares of Common Stock representing at least 45% of the total voting power of the then outstanding Common Stock, (ii) 50% of the Total Number of
Directors, so long as HGGC Beneficially Owns shares of Common Stock representing less than 45% but at least 35% of the total voting power of the then outstanding Common Stock, (iii) 40% of the Total Number of Directors, so long HGGC Beneficially
Owns shares of Common Stock representing less than 35% but at least 25% of the total voting power of the then outstanding Common Stock, (iv) 30% of the Total Number of Directors, in the event that HGGC Beneficially Owns shares of Common Stock
representing less than 25% but at least 15% of the total voting power of the then outstanding Common Stock, and (v) 20% of the Total Number 

 
of Directors, in the event that HGGC Beneficially Owns shares of Common Stock representing less than 15% but at least 5% of the total voting power of the then outstanding Common Stock (such
persons, the “HGGC Nominees”). For purposes of calculating the number of directors that HGGC is entitled to designate pursuant to the immediately preceding sentence, any fractional amounts shall automatically be rounded up to the
nearest whole number (e.g., 11⁄4 Directors shall equate to 2 Directors) and any such calculations shall be made after taking into account any increase in the Total
Number of Directors. 
 (b) From the Effective Date, M&S shall have the right, but not the obligation, to nominate to the Board a number
of designees equal to at least: (i) 40% of the Total Number of Directors (as defined below), so long as M&S Beneficially Owns shares of Common Stock representing at least 25% of the total voting power of the then outstanding Common Stock, (ii)
30% of the Total Number of Directors, in the event that M&S Beneficially Owns shares of Common Stock representing less than 25% but at least 15% of the total voting power of the then outstanding Common Stock, and (iii) 20% of the Total Number of
Directors, in the event that M&S Beneficially Owns shares of Common Stock representing less than 15% but at least 5% of the total voting power of the then outstanding Common Stock (such persons, the “M&S Nominees,” and
together with the HGGC Nominees, the “Nominees”). For purposes of calculating the number of directors that M&S is entitled to designate pursuant to the immediately preceding sentence, any fractional amounts shall automatically
be rounded down to the nearest whole number (e.g., 11⁄4 Directors shall equate to 1 Director) and any such calculations shall be made after taking into account any
increase in the Total Number of Directors. 
 (c) The Directors shall be divided into three classes of directors, each of whose members
shall serve for staggered three-year terms in accordance with the Company’s certificate of incorporation. One HGGC nominee will initially be allocated to each of the three classes. 

(d) In the event that any Lead Sponsor has nominated less than the total number of designees that such Lead Sponsor shall be entitled to
nominate pursuant to Section 1(a) or Section 1(b), such Lead Sponsor shall have the right, at any time, to nominate such additional designees to which it is entitled, in which case, the Company and
the Directors shall take all necessary corporation action, to the fullest extent permitted by applicable law (including with respect to fiduciary duties under Delaware law), to (x) enable such Lead Sponsor to nominate and effect the election or
appointment of such additional individuals, whether by increasing the size of the Board or otherwise, and (y) designate such additional individuals nominated by such Lead Sponsor to fill such newly created vacancies or to fill any other
existing vacancies. 
 (e) The Company shall pay all reasonable
out-of-pocket expenses incurred by any Nominee in connection with the performance of his or her duties as a director and in connection with his or her attendance at any
meeting of the Board. 
 (f) “Affiliate” of any person shall mean any other person controlled by, controlling or under
common control with such person; where “control” (including, with its correlative meanings, “controlling,” “controlled by” and “under common control with”) means possession,
directly or indirectly, of power to direct or cause the direction of management or policies (whether through ownership of securities, by contract or otherwise); provided that, for the avoidance of doubt, neither the Company nor any of its
subsidiaries shall be deemed to be an Affiliate of any Lead Sponsor. 

  
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 (g) “Beneficially Own” shall mean that a specified person has or shares the
right, directly or indirectly, through any contract, arrangement, understanding, relationship or otherwise, to vote and/or dispose of (or to direct the voting and/or disposition of) any shares of capital stock of the Company. 

(h) “Director” means any member of the Board. 

(i) “Total Number of Directors” means the total number of Directors comprising the Board. 

(j) No reduction in the number of shares of Common Stock that each Lead Sponsor Beneficially Owns shall shorten the term of any incumbent
director. 
 (k) In the event that any Nominee shall cease to serve for any reason, the Lead Sponsor that nominated such Nominee shall be
entitled to designate such person’s successor in accordance with this Agreement (regardless of each Lead Sponsor’s Beneficial Ownership of Common Stock at the time of such vacancy) and the Board shall promptly fill the vacancy with such
successor nominee; it being understood that any such designee shall serve the remainder of the term of the director whom such designee replaces. 

(l) If a Nominee is not appointed or elected to the Board because of such person’s death, disability, disqualification, withdrawal as a
nominee or for any other reason is unavailable or unable to serve on the Board, the applicable Lead Sponsor shall be entitled to designate promptly another nominee and the director position for which the original Nominee was nominated shall not be
filled pending such designation. 
 (m) So long as a Lead Sponsor has the right to nominate at least one Nominee under
Section 1(a) or Section 1(b) or any such Nominee is serving on the Board, the Company shall maintain in effect at all times directors and officers indemnity insurance coverage reasonably
satisfactory to the Lead Sponsors, and the Company’s Certificate of Incorporation and Bylaws (each as may be further amended, supplemented or waived in accordance with its terms) shall at all times provide for indemnification, exculpation and
advancement of expenses to the fullest extent permitted under applicable law. 
 (n) At any time that a Lead Sponsor shall have any
nomination rights under Section 1(a) or Section 1(b), the Company shall not increase or decrease the number of Directors serving on the Board without the prior written consent of the Lead Sponsors
having such rights. 
 (o) At such time as the Company ceases to be a “controlled company” and is required by applicable law or
the New York Stock Exchange (the “Exchange”) listing standards to have a majority of the Board comprised of “independent directors” (subject in each case to any applicable phase-in
periods), the Nominees shall include a number of persons that qualify as “independent directors” under applicable law and the Exchange listing standards such that, together with any 

  
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other “independent directors” then serving on the Board that are not Nominees, the Board is comprised of a majority of “independent directors”; provided that at any time that
a Lead Sponsor shall have any nomination rights under Section 1(a) or Section 1(b), (i) each such Lead Sponsor shall be entitled to nominate at least one (1) Nominee who does not qualify
as an “independent director” and (ii) the number of “independent directors” required to be nominated by any Lead Sponsor pursuant to this provision shall not be greater than the number of Nominees required to be
“independent directors” pursuant to this provision to be nominated by any other Lead Sponsor with the right to nominate the same number of, or more, Nominees as such Lead Sponsor. 

(p) At any time that a Lead Sponsor shall have any nomination rights under Section 1(a) or
Section 1(b), the Company shall not take any action, including making or recommending any amendment to Company’s Certificate of Incorporation or Bylaws (each as may be further amended, supplemented or waived in
accordance with its terms) that could reasonably be expected to adversely affect a Lead Sponsor’s rights under this Agreement, in each case without the prior written consent of the adversely affected Lead Sponsor. 

(q) The Company recognizes that each Nominee (i) will from time to time
receive non-public information concerning the Company, and (ii) may share such information with other individuals associated with the Lead Sponsor that designated such Nominee. The Company
hereby irrevocably consents to such sharing. Each Lead Sponsor agrees that it will keep confidential and not disclose or divulge to any third party any confidential information regarding the Company it receives from the Company or a Nominee, unless
such information (x) is available or becomes available to the public in general, (y) is or has been independently developed or conceived by such Lead Sponsor without use of the Company’s confidential information or (z) is or has
been made known or disclosed to such Lead Sponsor by a third party without a breach of any obligation of confidentiality such third party may have to the Company; provided, however, that a Lead Sponsor may disclose confidential information
(I) to its Affiliates (other than portfolio companies), (II) to each of its and its Affiliate’s (other than portfolio companies) attorneys, accountants, consultants, advisors and other professionals to the extent necessary to obtain their
services in connection with evaluating the information, or (III) as may be required by law or legal, judicial or regulatory process or requested by any regulatory or self-regulatory authority or examiner, provided that such Lead Sponsor takes
reasonable steps to minimize the extent of any required disclosure described in this clause (III). 
 2. Company Obligations. The
Company agrees that prior to the date that each Lead Sponsor ceases to Beneficially Own shares of Common Stock representing at least 5% of the total voting power of the then outstanding Common Stock, (i) each Nominee is included in the
Board’s slate of nominees to the stockholders (the “Board’s Slate”) for each election of members of the Board; and (ii) each Nominee is included in the proxy statement prepared by management of the Company in
connection with soliciting proxies for every meeting of the stockholders of the Company called with respect to the election of members of the Board (each, a “Director Election Proxy Statement”), and at every adjournment or
postponement thereof, and on every action or approval by written consent of the stockholders of the Company or the Board with respect to the election of members of the Board. Each Lead Sponsor will promptly report to the Company after such Lead
Sponsor ceases to Beneficially Own shares of Common Stock representing at least 5% of the total voting power of the then outstanding Common Stock, such that the Company is 

  
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informed of when this obligation terminates. The calculation of the number of Nominees that each Lead Sponsor is entitled to be nominate to the Board’s Slate for any election of directors
shall be based on the percentage of the total voting power of the then outstanding Common Stock then Beneficially Owned by such Lead Sponsor (“Voting Control”) immediately prior to the mailing to stockholders of the Director
Election Proxy Statement relating to such election (or, if earlier, the filing of the definitive Director Election Proxy Statement with the U.S. Securities and Exchange Commission). Unless a Lead Sponsor notifies the Company otherwise prior to the
mailing to stockholders of the Director Election Proxy Statement relating to an election of directors (or, if earlier, the filing of the definitive Director Election Proxy Statement with the U.S. Securities and Exchange Commission), the Nominees for
such election shall be presumed to be the same Nominees currently serving on the Board, and no further action shall be required of any Lead Sponsor for the Board to include such Nominees on the Board’s Slate; provided, that, in the event a Lead
Sponsor is no longer entitled to nominate the full number of Nominees then serving on the Board, such Lead Sponsor shall provide advance written notice to the Company of which currently servicing Nominee(s) shall be excluded from the Board Slate,
and of any other changes to the list of Nominees. If a Lead Sponsor fails to provide such notice prior to the mailing to stockholders of the Director Election Proxy Statement relating to such election (or, if earlier, the filing of the definitive
Director Election Proxy Statement with the U.S. Securities and Exchange Commission), a majority of the “independent directors” then serving on the Board shall determine which of the Nominees of such Lead Sponsor then serving on the Board
will be included in the Board’s Slate. Furthermore, the Company agrees for so long as the Company qualifies as a “controlled company” under the rules of the Exchange the Company will elect to be a “controlled company” for
purposes of the Exchange and will disclose in its annual meeting proxy statement that it is a “controlled company” and the basis for that determination. The Company and the Lead Sponsors acknowledge and agree that, as of the Effective
Date, the Company is a “controlled company.” The Company agrees to provide written notice of the preparation of a Director Election Proxy Statement to the Lead Sponsors at least 20 business days, but no more than 40 business days, prior to
the earlier of the mailing and the filing date of any Director Election Proxy Statement. 
 3. Committees. From and after the
Effective Date hereof until such time as HGGC ceases to Beneficially Own Common Stock representing at least 5% of the total voting power of the then outstanding Common Stock, HGGC shall have the right to designate one member of each committee of the
Board, provided that any such designee shall be a Director and shall be eligible to serve on the applicable committee under applicable law or listing standards of the Exchange, including any applicable independence requirements (subject in each case
to any applicable exceptions, including those for newly public companies and for “controlled companies,” and any applicable phase-in periods). Any additional members of such committee shall be
determined by the Board. Nominees designated to serve on a Board committee shall have the right to remain on such committee until the next election of directors, regardless of the level of Voting Control by HGGC following such designation. Unless
HGGC notifies the Company otherwise prior to the time the Board takes action to change the composition of a Board committee, and to the extent HGGC has the requisite Voting Control by HGGC to nominate a Board committee member at the time the Board
takes action to change the composition of such Board committee, any Nominee currently designated by HGGC to serve on such committee shall be presumed to be re-designated for such committee. 

  
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 4. Amendment and Waiver. Any provision of this Agreement may be amended or waived if,
but only if, such amendment or waiver is in writing and is signed, in the case of an amendment, by the Company and each Lead Sponsor having Beneficially Ownership of Common Stock representing at least 5% of the total voting power of the then
outstanding Common Stock, or in the case of a waiver, by the party against whom the waiver is to be effective. No failure or delay by any party in exercising any right, power or privilege hereunder shall operate as a waiver thereof nor shall any
single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies herein provided shall be cumulative and not exclusive of any rights or remedies
provided by law. No Lead Sponsor shall be obligated to nominate all (or any) of the Nominees it is entitled to nominate pursuant to this Agreement for any election of directors but the failure to do so shall not constitute a waiver of its rights
hereunder with respect to future elections; provided, however, that in the event a Lead Sponsor fails t to nominate all (or any) of the Nominees it is entitled to nominate pursuant to this Agreement prior to the mailing to stockholders
of the Director Election Proxy Statement relating to such election (or, if earlier, the filing of the definitive Director Election Proxy Statement with the U.S. Securities and Exchange Commission), the Compensation and Nominating Committee of the
Board shall be entitled to nominate individuals in lieu of such Nominees for inclusion in the Board’s Slate and the applicable Director Election Proxy Statement with respect to the election for which such failure occurred and such Lead Sponsor
shall be deemed to have waived its rights under Section 1 and Section 2 with respect to such election (but solely with respect to such election and not any subsequent election); provided, further,
however, that any such waiver shall only be effective if the Company has provided written notice to such Lead Sponsor of such Director Election Proxy Statement no less than 20 business days, and no more than 40 business days, prior to the earlier of
the mailing or filing date of such Director Election Proxy Statement. The rights and remedies herein provided shall be cumulative and not exclusive of any rights or remedies provided by law. 

5. Benefit of Parties. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective
permitted successors and assigns. Notwithstanding the foregoing, the Company may not assign any of its rights or obligations hereunder without the prior written consent of each Lead Sponsor that Beneficially Owns shares of Common Stock representing
at least 5% of the total voting power of the then outstanding Common Stock. Except as otherwise expressly provided in Section 6 and the last sentence of Section 7(b), nothing herein contained shall
confer or is intended to confer on any third party or entity that is not a party to this Agreement any rights under this Agreement. 
 6.
Assignment. Upon written notice to the Company, each Lead Sponsor may assign to any of its Affiliates (other than a portfolio company) all of its rights hereunder and, following such assignment, such assignee shall be deemed to be a
“Lead Sponsor” for all purposes hereunder but no such assignment shall relieve the assignor of any of its obligations hereunder. 

7. Indemnification. 
 (a)
The Company shall defend, indemnify and hold harmless each Lead Sponsor, their respective Affiliates, partners, employees, agents, directors, managers, officers and controlling persons (collectively, the “Indemnified Parties”) from
and against any and all actions, causes of 

  
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action, suits, claims, liabilities, losses, damages, costs, expenses, or other obligations of any kind or nature (whether accrued or fixed, absolute or contingent) in connection therewith
(including reasonable attorneys’ fees and expenses) incurred by the Indemnified Parties before or after the date of this Agreement (each, an “Action”) arising directly or indirectly out of, or in any way relating to, (i) a
Lead Sponsor or its Affiliates’ Beneficial Ownership of Common Stock or other equity securities of the Company or control or ability to influence the Company or any of its subsidiaries (other than, in the case of any Indemnified Party, any such
Actions (x) to the extent such Actions arise out of any breach of this Agreement by such Indemnified Party or its Affiliates or the breach of any fiduciary or other duty or obligation of such Indemnified Party to its direct or indirect equity
holders, creditors or Affiliates or (y) to the extent such Actions are directly caused by such Indemnified Party’s willful misconduct), (ii) the business, operations, properties, assets or other rights or liabilities of the Company or any
of its subsidiaries or (iii) any services provided prior, on or after the date of this Agreement by a Lead Sponsor or its Affiliates to the Company or any of its subsidiaries. The Company shall defend at its own cost and expense in respect of
any Action which may be brought against the Company and/or its Affiliates and the Indemnified Parties. The Company shall defend at its own cost and expense any and all Actions which may be brought in which the Indemnified Parties may be impleaded
with others upon any Action by the Indemnified Parties, except that if such Actions shall be proven to be the direct result of gross negligence, bad faith or willful misconduct by any of the Indemnified Parties, then such Indemnified Party shall
reimburse the Company for the costs of defense and other costs incurred by the Company in proportion to such Indemnified Party’s culpability as proven. In the event of the assertion against any Indemnified Party of any Action or the
commencement of any Action, the Company shall be entitled to participate in such Action and in the investigation of such Action and, after written notice from the Company to such Indemnified Party, to assume the investigation or defense of such
Action with counsel of the Company’s choice at the Company’s expense; provided, however, that such counsel shall be reasonably satisfactory to the Indemnified Party. Notwithstanding anything to the contrary contained herein, the Company
may retain one firm of counsel to represent all Indemnified Parties in such Action; provided, however, that the Indemnified Party shall have the right to employ a single firm of separate counsel (and any necessary local counsel) and to participate
in the defense or investigation of such Action and the Company shall bear the expense of such separate counsel (and local counsel, if applicable), if (x) in the opinion of counsel to the Indemnified Party use of counsel of the Company’s
choice could reasonably be expected to give rise to a conflict of interest, (y) the Company shall not have employed counsel satisfactory to the Indemnified Party to represent the Indemnified Party within a reasonable time after notice of the
assertion of any such Action or (z) the Company shall authorize the Indemnified Party to employ separate counsel at the Company’s expense. The Company further agrees that with respect to any Indemnified Party who is employed, retained or
otherwise associated with, or appointed or nominated by, a Lead Sponsor or any of its Affiliates and who acts or serves as a director, officer, manager, fiduciary, employee, consultant, advisor or agent of, for or to the Company or any of its
subsidiaries, that the Company or such subsidiaries, as applicable, shall be primarily liable for all indemnification, reimbursements, advancements or similar payments (the “Indemnity Obligations”) afforded to such Indemnified Party
acting in such capacity or capacities on behalf or at the request of the Company, whether the Indemnity Obligations are created by law, organizational or constituent documents, contract (including this Agreement) or otherwise. The Company hereby
agrees that in no event shall the Company or any of its subsidiaries have any right or claim against a Lead Sponsor or any of its Affiliates for 

  
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contribution or have rights of subrogation against a Lead Sponsor or any of its Affiliates through an Indemnified Party for any payment made by the Company or any of its subsidiaries with respect
to any Indemnity Obligation. In addition, the Company hereby agrees that in the event that a Lead Sponsor or any of its Affiliates pays or advances an Indemnified Party any expenses with respect to an Indemnity Obligation, the Company will, or will
cause its subsidiaries to, as applicable, promptly reimburse such Lead Sponsor or its Affiliate, for such payment or advance upon request; subject to the receipt by the Company of a written undertaking executed by the Indemnified Party and such Lead
Sponsor or Affiliate to repay any such amounts if it shall ultimately be determined by a court of competent jurisdiction that such Indemnified Party was not entitled to be indemnified by the Company. The foregoing right to indemnity shall be in
addition to any rights that any Indemnified Party may have at common law or otherwise and shall remain in full force and effect following the termination of this Agreement and the completion or any termination of the engagement or other service
relationship of such Indemnified Party acting in such capacity or capacities on behalf or at the request of the Company. If for any reason the foregoing indemnification is unavailable to any Indemnified Party or insufficient to hold it harmless as
and to the extent contemplated by this Section 7, then the Company shall contribute to the amount paid or payable by the Indemnified Party as a result of such Action in such proportion as is appropriate to reflect the
relative benefits received by the Company, on the one hand, and the Indemnified Party, as the case may be, on the other hand, as well as any other relevant equitable considerations. This Section 7(a) shall not apply with
respect to any taxes, other than taxes that represent causes of action, suits, claims, liabilities, losses, damages, costs, expenses, or obligations arising from a non-tax claim. 

(b) The Company hereby acknowledges that certain of the Indemnified Parties have certain rights to indemnification, advancement of expenses
and/or insurance provided by investment funds managed by a Lead Sponsor and certain of their respective Affiliates (collectively, the “Fund Indemnitors”). The Company hereby agrees with respect to any indemnification, hold harmless
obligation, expense advancement or reimbursement provision or any other similar obligation whether pursuant to or with respect to this Agreement, the organizational documents of the Company or any of its subsidiaries or any other agreement, as
applicable, (i) that the Company and its subsidiaries are the indemnitor of first resort (i.e., their obligations to the Indemnified Parties are primary and any obligation of the Fund Indemnitors to advance expenses or to provide
indemnification for claims, expenses or obligations arising out of the same or similar facts and circumstances suffered by any Indemnified Party are secondary), (ii) that the Company shall be required to advance the full amount of expenses incurred
by any Indemnified Party and shall be liable for the full amount of all expenses, liabilities, obligations, judgments, penalties, fines, and amounts paid in settlement to the extent legally permitted and as required by the terms of this Agreement,
the organizational documents of the Company or any of its subsidiaries or any other agreement, as applicable, without regard to any rights any Indemnified Party may have against the Fund Indemnitors, and (iii) that the Company, on behalf of
itself and each of its subsidiaries, irrevocably waives, relinquishes and releases the Fund Indemnitors from any and all Actions against the Fund Indemnitors for contribution, subrogation or any other recovery of any kind in respect thereof. The
Company further agrees that no advancement or payment by the Fund Indemnitors on behalf of any Indemnified Party with respect to any Action for which any Indemnified Party has sought indemnification from the Company shall affect the foregoing and
the Fund Indemnitors shall have a right of contribution and/or be subrogated to the extent of such advancement or payment to all of the rights of recovery of any Indemnified Party against the Company. The Company agrees that the Fund Indemnitors are
express third-party beneficiaries of the terms of this Section 7(b). 

  
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 8. Headings. Headings are for ease of reference only and shall not form a part of
this Agreement. 
 9. Governing Law. This Agreement shall be construed in accordance with and governed by the law of the State of
Delaware without giving effect to the principles of conflicts of laws thereof. 
 10. Jurisdiction. Any suit, action or proceeding
seeking to enforce any provision of, or based on any matter arising out of or in connection with, this Agreement may be brought against any of the parties in any federal court located in the State of Delaware or any Delaware state court, and each of
the parties hereby consents to the exclusive jurisdiction of such court (and of the appropriate appellate courts) in any such suit, action or proceeding and waives any objection to venue laid therein. Process in any such suit, action or proceeding
may be served on any party anywhere in the world, whether within or without the jurisdiction of any such court. Without limiting the foregoing, each of the parties agrees that service of process upon such party at the address referred to in
Section 17, together with written notice of such service to such party, shall be deemed effective service of process upon such party. 

11. WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL
PROCEEDING ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT. 
 12. Entire Agreement. This Agreement constitutes the entire
agreement among the parties with respect to the subject matter hereof and supersedes all prior agreements, understandings and negotiations, both written and oral, among the parties with respect to the subject matter hereof. 

13. Counterparts; Effectiveness. This Agreement may be signed in any number of counterparts, each of which shall be deemed an original.
This Agreement shall become effective when each party shall have received a counterpart hereof signed by each of the other parties. An executed copy or counterpart hereof delivered by facsimile shall be deemed an original instrument. 

14. Severability. If any provision of this Agreement or the application thereof to any person or circumstance shall be invalid or
unenforceable to any extent, the remainder of this Agreement and the application of such provisions to other persons or circumstances shall not be affected thereby and shall be enforced to the greatest extent permitted by law. 

15. Further Assurances. Each of the parties hereto shall execute and deliver such further instruments and do such further acts and
things as may be required to carry out the intent and purpose of this Agreement. 

  
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 16. Specific Performance. Each of the parties hereto agree that irreparable damage
would occur if any provision of this Agreement were not performed in accordance with the terms hereof and that the parties shall be entitled to an injunction or injunctions to prevent breaches of this Agreement or to enforce specifically the
performance of the terms and provisions hereof in any federal or state court located in the State of Delaware, in addition to any other remedy to which they are entitled at law or in equity. 

17. Notices. All notices, requests and other communications to any party or to the Company shall be in writing (including email,
telecopy or similar writing) and shall be given, 
 If to the Company: 

The Better Being Co. 
 222 Main
Street, Suite 1600 
 Salt Lake City, Utah 84101 

Attention: General Counsel 

Email: JBurchfield@nutracorp.com 

With a copy to (which shall not constitute notice): 

Kirkland & Ellis LLP 

300 N. LaSalle 
 Chicago, IL 60654

 Attention: Robert M. Hayward, P.C. 

                 Robert E. Goedert, P.C. 

                 Alexander M. Schwartz 

Facsimile: (312) 862-2200 

Email: rhayward@kirkland.com; rgoedert@kirkland.com; 

            alexander.schwartz@kirkland.com 

If to any member of HGGC or any of its Nominees: 

c/o HGGC, LLC 
 1950 University
Avenue, Suite 350 
 Palo Alto, CA 94303 

Attention: Kurt A. Krieger 

Facsimile: (650) 618-4930 
 Email:
kak@hggc.com 

  
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 With a copy to (which shall not constitute notice): 

Kirkland & Ellis LLP 

300 N. LaSalle 
 Chicago, IL 60654

 Attention: Robert M. Hayward, P.C. 

                 Robert E. Goedert, P.C. 

                 Alexander M. Schwartz 

Facsimile: (312) 862-2200 

Email: rhayward@kirkland.com; rgoedert@kirkland.com; 

            alexander.schwartz@kirkland.com 

If to any member of M&S or any of their respective Nominees: 

Snapdragon Capital Partners 
 17
Palmer Lane 
 Riverside, CT 06878 

Attention: Mark Grabowski 
 Email:
markg@snapdragoncap.com 
 and 

Maze Consulting, LLC 
 40 Wooster
Street, 2nd Floor 
 New York, NY 10013 

Attention: Zachary Werner and Julia Laine Sublett 

Email: zack@themazegroup.com and julia@themazegroup.com 

With a copy to (which shall not constitute notice): 

Morrison Cohen LLP 
 909 Third
Avenue 
 New York, NY 10022 

Attention:         Steven M. Cooperman 

                        
 Eric Moskowitz 
 Email:              scooperman@morrisoncohen.com

                        
 emoskowitz@morrisoncohen.com 
 or to such other address or telecopier number as such party or the Company may hereafter specify for the purpose by
notice to the other parties and the Company. Each such notice, request or other communication shall be effective when delivered at the address specified in this Section 17 during regular business hours. 

18. Enforcement. Each of the parties hereto covenants and agrees that the disinterested members of the Board have the right to enforce,
waive or take any other action with respect to this Agreement on behalf of the Company. 

*                *       
         *                *                *

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the date first above
written. 
  

			
	THE BETTER BEING CO.

 
			
		
	By:	 	 

 
			
	Name:	 	
	Title:	 	

  

			
	NORWAY HOLDINGS, LP

 
			
		
	By:	 	 

 
			
	Name:	 	
	Title:	 	

  

			
	MAZE CONSULTING LLC

 
			
		
	By:	 	 

 
			
	Name:	 	
	Title:	 	

  

			
	SNAPDRAGON CAPITAL PARTNERS LLC

 
			
		
	By:	 	 

 
			
	Name:	 	
	Title:ck1723866-ex101_93.htm

Exhibit 10.1

FOURTH AMENDMENT TO AMENDED AND RESTATED LOAN, SECURITY AND GUARANTY AGREEMENT AND LIMITED CONSENT

THIS FOURTH AMENDMENT TO AMENDED AND RESTATED LOAN, SECURITY AND GUARANTY AGREEMENT AND LIMITED CONSENT, dated as of June 30, 2021 (this “Agreement”) is entered into by and among SELECT INTERIOR CONCEPTS, INC., a Delaware corporation (“Topco”), ARCHITECTURAL GRANITE & MARBLE, LLC, a Delaware limited liability company, formerly known as G&M OPCO LLC (“AG&M”), and PENTAL GRANITE AND MARBLE, LLC, a Washington limited liability company (“Pental”, and together with Topco, AG&M, and each Person joined thereto as a borrower from time to time, individually and collectively, jointly and severally, “Borrower”), ARCHITECTURAL SURFACES GROUP, LLC, a Delaware limited liability company, formerly known as TCFI G&M LLC (“AG&M Parent”), RESIDENTIAL DESIGN SERVICES, LLC, a Delaware limited liability company, formerly known as TCFI LARK LLC (“L.A.R.K. Parent”), AG HOLDCO (SPV) LLC, a Delaware limited liability company (“AG SPV”) and SIC INTERMEDIATE, INC., a Delaware corporation (“SIC”, and together with Borrower, AG&M Parent, AG SPV and L.A.R.K. Parent, each individually, an “Obligor” and collectively, the “Obligors”) and BANK OF AMERICA, N.A., a national banking association (together with its successors and assigns, “Lender”).

WHEREAS, Borrower, the other Obligors, L.A.R.K. INDUSTRIES, INC., a California corporation (“L.A.R.K.”), GREENCRAFT HOLDINGS, LLC, an Arizona limited liability company (“Greencraft Holdings”), GREENCRAFT INTERIORS, LLC, an Arizona limited liability company (“Greencraft Interiors”), CASA VERDE SERVICES, LLC, a Delaware limited liability company (“Casa Verde”), GREENCRAFT STONE AND TILE, LLC, an Arizona limited liability company (“Greencraft Stone”), T.A.C. CERAMIC TILE CO. a Virginia corporation (“T.A.C.”) and Lender are the current parties to that certain Amended and Restated Loan, Security and Guaranty Agreement, dated June 28, 2018 (as amended, restated, supplemented or otherwise modified from time to time, the “Loan Agreement”), pursuant to which the Lender has agreed to make certain loans (each a “Loan” and collectively the “Loans”); and

WHEREAS, Obligors have requested that Lender make certain amendments to the Loan Agreement, in connection with the consummation by Topco and L.A.R.K. Parent of the L.A.R.K. Transactions (as defined herein), and subject to the terms and conditions herein, Lender has agreed to amend the Loan Agreement.

NOW THEREFORE, in consideration of the premises and other good and valuable consideration, the receipt of which is hereby acknowledged, the parties hereto hereby agree as follows:

SECTION 1.Definitions

.  Reference is hereby made to the Loan Agreement for a statement of the terms thereof.  All terms used in this Agreement which are defined therein and not otherwise defined herein shall have the same meanings herein as set forth therein.

SECTION 2.Amendments to Loan Agreement

. Effective as of the Fourth Amendment Effective Date (as defined below), Obligors and Lender amend the Loan Agreement as follows:

 

 

	
 
	
(a)
	
Section 1.1 of the Loan Agreement is hereby amended by adding the following new definitions thereto in proper alphabetical order:

“Affected Financial Institution”: (a) any EEA Financial Institution or (b) any UK Financial Institution.

“Available Tenor”: as of any date of determination and with respect to the then-current Benchmark, as applicable, (a) if such Benchmark is a term rate, any tenor for the Benchmark that is or may be used for determining the length of any Interest Period; or (b) otherwise, any payment period for interest calculated with reference to such Benchmark, as applicable, pursuant to this Agreement as of such date.

“Benchmark”: initially, LIBOR; provided, that if a replacement of the Benchmark has occurred pursuant to Section 3.6.2, then “Benchmark” means the applicable Benchmark Replacement to the extent that such Benchmark Replacement has replaced such prior benchmark rate. Any reference to “Benchmark” shall include, as applicable, the published component used in the calculation thereof.

“Benchmark Replacement”: (a) for purposes of Section 3.6.2(a), the first alternative set forth below that can be determined by Lender:

(i)The sum of (A) Term SOFR plus (B) 0.11448% (11.448 basis points) for an Available Tenor of one month, 0.26161% (26.161 basis points) for an Available Tenor of three months and 0.42826% (42.826 basis points) for an Available Tenor of six months; or

(ii)The sum of (A) Daily Simple SOFR plus (B) 0.11448% (11.448 basis points);

provided, that if initially LIBOR is replaced with the rate contained in clause (ii) above (Daily Simple SOFR plus the applicable spread adjustment) and subsequent to such replacement, Lender determines that Term SOFR has become available and is administratively feasible for Lender in its discretion, and Lender notifies Borrower Agent of such availability, then from and after the beginning of the Interest Period, relevant interest payment date or payment period for interest calculated, in each case, commencing no less than 30 days after the date of such notice, the Benchmark Replacement shall be as set forth in clause (i) above; and (b) for purposes of Section 3.6.2(b), the sum of (i) the alternate benchmark rate and (ii) an adjustment (which may be a positive or negative value or zero), in each case that has been selected by Lender and Borrower Agent as the replacement Benchmark giving due consideration to any evolving or then-prevailing market convention, including any applicable recommendations made by a Relevant Governmental Body, for Dollar-denominated syndicated credit facilities at such time.  In no event shall the Benchmark Replacement as determined above be less than zero at any time for purposes of this Agreement and the other Loan Documents.  Any Benchmark Replacement shall be applied in a manner consistent with market practice; provided, that to the extent such market practice is not administratively feasible for Lender, it shall be applied in a manner as otherwise reasonably determined by Lender.

“Benchmark Replacement Conforming Changes”: with respect to any Benchmark Replacement, any technical, administrative or operational changes (including changes to the 

 

 

definition of Base Rate, Business Day or Interest Period, timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, applicability and length of lookback periods, applicability of breakage provisions, and other technical, administrative or operational matters) that Lender decides may be appropriate to reflect the adoption and implementation of such Benchmark Replacement and to permit the administration thereof by Lender in a manner substantially consistent with market practice (or, if Lender decides that adoption of any portion of such market practice is not administratively feasible or if Lender determines that no market practice for the administration of such Benchmark Replacement exists, in such other manner of administration as Lender decides is reasonably necessary in connection with administration of this Agreement and the other Loan Documents).

“Benchmark Transition Event”: with respect to any then-current Benchmark (other than LIBOR), the occurrence of a public statement or publication of information by or on behalf of the administrator of such Benchmark or a Governmental Authority with jurisdiction over such administrator announcing or stating that all Available Tenors are or will no longer be representative, or made available, or used for determining the interest rate of loans, or shall or will otherwise cease, provided, that, at the time of such statement or publication, there is no successor administrator satisfactory to Agent that will continue to provide any representative tenors of such Benchmark after such specific date.

“Benefit Plan”: any (a) employee benefit plan (as defined in ERISA) subject to Title I of ERISA, (b) plan (as defined in and subject to Section 4975 of the Code), or (c) 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.

“Daily Simple SOFR”: with respect to any applicable determination date, the secured overnight financing rate published on such date by FRBNY, as administrator of the benchmark (or a successor administrator), on FRBNY’s website (or any successor source).

“Division Transaction”: (a) the division of a limited liability company into two or more limited liability companies pursuant to a “plan of division” or similar method or (b) the creation, or reorganization into, or allocation of its assets to, one or more series, in each case, within the meaning of the Delaware Limited Liability Company Act or similar statute in any other state.

“Early Opt-in Election”: the occurrence of (a) a determination by Lender, or a notification by Borrower Agent to Lender that Borrower has made a determination, that Dollar-denominated syndicated credit facilities currently being executed, or that include language similar to that contained in Section 3.6.2, are being executed or amended (as applicable) to incorporate or adopt a new benchmark interest rate to replace LIBOR; and (b) the joint election by Lender and Borrower Agent to replace LIBOR with a Benchmark Replacement.

“Fourth Amendment”:  that certain Fourth Amendment to Amended and Restated Loan, Security and Guaranty Agreement and Limited Consent, dated as of the Fourth Amendment Effective Date (as such term is defined in the Fourth Amendment), by Lender and Obligors. 

“FRBNY”: the Federal Reserve Bank of New York.

 

 

“L.A.R.K. Disposition”: the sale by L.A.R.K. Parent of 100% of its equity interests in L.A.R.K. pursuant to and in accordance with the L.A.R.K. Disposition Documents.

“L.A.R.K. Disposition Documents”: that certain Equity Purchase Agreement, dated as of May 9, 2021, by and among Topco, L.A.R.K Parent, L.A.R.K. and Signal Holdco, L.P., a Delaware limited partnership, as amended, restated, amended and restated, supplemented or otherwise modified from time to time.

“L.A.R.K. Disposition Transactions”: each of (a) the L.A.R.K. Disposition, (b) the prepayment in full of all Term Debt, along with termination of all Term Debt Documents and termination of all Liens securing the Term Debt, and (c) the release of the L.A.R.K. Disposition Entities (as such term is defined in the Fourth Amendment) and the termination of all Liens on any property or assets of the L.A.R.K. Disposition Entities (as such term is defined in the Fourth Amendment) securing the Obligations under the Loan Agreement and the Loan Documents.

“Other Rate Early Opt-in”: Lender and Borrower Agent have elected to replace LIBOR with a Benchmark Replacement other than a SOFR-based rate pursuant to (a) an Early Opt-in Election and (b) Section 3.6.2(b) and clause (b) of the definition of Benchmark Replacement.

“PTE”: a prohibited transaction class exemption issued by the U.S. Department of Labor, as amended from time to time.

“Relevant Governmental Body”: the Board of Governors of the Federal Reserve System or FRBNY, or a committee officially endorsed or convened by the Board of Governors of the Federal Reserve System or FRBNY, or any successor thereto.

“SOFR”: the secured overnight financing rate published on such date by FRBNY.

“SOFR Early Opt-in”: Lender and Borrower Agent have elected to replace LIBOR pursuant to (a) an Early Opt-in Election and (b) Section 3.6.2(a) and clause (a) of the definition of Benchmark Replacement.

“Term SOFR”: for the applicable corresponding tenor (or if any Available Tenor of a Benchmark does not correspond to an Available Tenor for the applicable Benchmark Replacement, the closest corresponding Available Tenor and if such Available Tenor corresponds equally to two Available Tenors of such Benchmark Replacement, the corresponding tenor of the shorter duration shall be applied), the forward-looking term rate based on SOFR that has been selected or recommended by the Relevant Governmental Body.

“UK Financial Institution”: any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended form time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person subject to IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms.

“UK Resolution Authority”: the Bank of England or any other public administrative authority having responsibility for the resolution of any UK Financial Institution.

 

 

	
 
	
(b)
	
Section 1.1 of the Loan Agreement is hereby amended by amending and restating the definitions of “Bail-In Action”, “Bail-In Registration”, “Change of Control”, “LIBOR”, “Revolver Termination Date”, and “Write-Down and Conversion Powers” to read in their entirety as follows:

“Bail-In Action”: the exercise of any Write-Down and Conversion Powers by the applicable Resolution Authority in respect of any liability of an Affected Financial Institution.

“Bail-In Legislation”: (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, rule, 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).

“Change of Control”: (a) Topco ceases to own and control, beneficially and of record, directly or indirectly, all Equity Interests of SIC, (b) SIC ceases to own and control, beneficially and of record, directly or indirectly all Equity Interests of AG&M Parent, (c) SIC ceases to own and control, beneficially and of record, directly or indirectly, all Equity Interests of L.A.R.K. Parent (other than a dissolution of L.A.R.K. Parent); (d) AG&M Parent ceases to own and control, beneficially and of record, directly or indirectly, all Equity Interests in AG&M; (e) AG&M ceases to own and control, beneficially and of record, directly or indirectly, all Equity Interests in Pental (other than a merger of Pental with and into AG&M in accordance with Section 9.2.9); (f) AG&M ceases to own and control, beneficially and of record, directly or indirectly, all Equity Interests in AG SPV; (g) any Person or group (within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Securities Exchange Act of 1934 (as amended), or any successor provision) including any group acting for the purpose of acquiring, holding or disposing of securities (within the meaning of Rule 13d-5(b)(1) under the Securities Exchange Act of 1934 (as amended), or any successor provision), acquires directly or indirectly, in a single transaction or in a related series of transactions, by way of merger, consolidation or other business combination or purchase of beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act, or any successor provision), more than 35% of the total voting power of the voting Equity Interests of Topco or any direct or indirect parent of Topco; or (h) the sale or transfer of all or substantially all assets of an Obligor.

“LIBOR”: the per annum rate of interest (rounded up to the nearest 1/100th of 1%) determined by Agent at or about 11:00 a.m. (London time) two Business Days prior to an Interest Period, for a term equivalent to such period, equal to the London interbank offered rate, or comparable or successor rate approved by Agent, as published on the applicable Reuters screen page (or other commercially available source designated by Lender from time to time); provided, that any comparable or successor rate shall be applied by Lender, if administratively feasible, in a manner consistent with market practice; and provided further, that in no event shall LIBOR be less than zero.

“Revolver Termination Date”: June 28, 2024.

 

 

“Write-Down and Conversion Powers”: (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.

	
 
	
(c)
	
Section 1.1 of the Loan Agreement is hereby amended by deleting the definitions of “Cerberus Term Agent”, “Cerberus Term Loan Refinancing Debt”, Cerberus Term Loan Refinancing Debt Documents”, “Cerberus Term Loan Agreement”, “Cerberus Term Loan Refinancing Conditions”, “Intercreditor Agreement”, “LIBOR Successor Rate”, “LIBOR Successor Rate Conforming Changes”, “Term Debt”, “Term Debt Documents”, and “Term Agent”.

	
 
	
(d)
	
Section 2.12 of the Loan Agreement is hereby amended by amending and restating Section 2.12 to read in its entirety as follows:

“Use of Proceeds. The proceeds of Revolver Loans shall be used by Borrower solely (a) to pay fees and transaction expenses associated with the closing of this Agreement; (b) to pay Obligations in accordance with this Agreement; and ( c) for lawful corporate purposes of Borrower, including working capital. Borrower shall not, directly or indirectly, use any Letter of Credit or Loan proceeds, nor use, lend, contribute or otherwise make available any Letter of Credit or Loan proceeds to any Subsidiary, joint venture partner or other Person, (i) to fund any activities of or business with any Person, or in any Designated Jurisdiction, that, at the time of issuance of the Letter of Credit or funding of the Loan, is the target of any Sanction; (ii) in any manner that would result in a violation of a Sanction by any Person (including any Secured Party or other individual or entity participating in any transaction); or (iii) for any purpose that would breach the U.S. Foreign Corrupt Practices Act of 1977, UK Bribery Act 2010 or similar law in any jurisdiction. ”

	
 
	
(e)
	
Section 3.1.2(b) of the Loan Agreement is hereby amended by deleting the present last sentence in Section 3.1.2(b) and replacing it with the following:

“Lender does not warrant or accept responsibility for, nor shall it have any liability with respect to, administration, submission or any other matter related to any rate used in determining LIBOR or with respect to any alternate or replacement for or successor to any such rate, any Benchmark Replacement Conforming Changes, or the effect of any of the foregoing. ”

	
 
	
(f)
	
Section 3.6 of the Loan Agreement is hereby amended and restated to read in its entirety as follows:

 

 

“3.6. Inability to Determine Rates.

3.6.1.  Subject to Section 3.6.2 through Section 3.6.5 below, Lender will promptly notify Borrower Agent if, in connection with any Loan or request with respect to a Loan, (a) Lender determines that (i) Dollar deposits are not being offered to banks in the London interbank Eurodollar market for the applicable Loan amount or Interest Period, or (ii) adequate and reasonable means do not exist for determining LIBOR for the Loan or Interest Period (including with respect to calculation of the Base Rate) or (b) Lender determines for any reason that LIBOR for the Interest Period does not adequately and fairly reflect the cost to Lender of funding or maintaining the Loan.  Thereafter, Lender’s obligation to make or maintain affected LIBOR Loans and utilization of the LIBOR component (if affected) in determining Base Rate shall be suspended until Lender determines to withdraw the notice.  Upon receipt of such notice, Borrower Agent may revoke any pending request for funding, conversion or continuation of a LIBOR Loan or, failing that, will be deemed to have requested a Base Rate Loan, and Lender may immediately convert any affected LIBOR Loan to a Base Rate Loan.

	
 
	
3.6.2.
	
Replacement of LIBOR.  Notwithstanding anything to the contrary herein or in any other Loan Document,

	
 
	
(a)
	
on March 5, 2021 the Financial Conduct Authority (“FCA”), the regulatory supervisor of LIBOR’s administrator (“IBA”), announced in a public statement the future cessation or loss of representativeness of overnight/Spot Next, 1-week, 1-month, 2-month, 3-month, 6-month and 12- month U.S. Dollar LIBOR tenor settings.  On the earliest of (i) the date that all Available Tenors of U.S. Dollar LIBOR have permanently or indefinitely ceased to be provided by IBA or have been announced by the FCA pursuant to public statement or publication of information to be no longer representative, (ii) June 30, 2023, and (iii) the effective date of a SOFR Early Opt-in, if the then-current Benchmark is LIBOR, the Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Loan Document in respect of any setting of such Benchmark on such day and all subsequent settings without any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document. If the Benchmark Replacement is Daily Simple SOFR, all interest will be payable on a monthly basis;

	
 
	
(b)
	
(i) upon (A) the occurrence of a Benchmark Transition Event or (B) a determination by Lender that neither of the alternatives under clause (a) of the definition of Benchmark Replacement are available, the Benchmark Replacement will replace the then-current Benchmark for all purposes hereunder and under any Loan Document in respect of any Benchmark setting at or after 5:00 p.m. on the fifth Business Day after the date Lender notifies Borrower Agent of the Benchmark Replacement without any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document; provided, that solely in the event that the then-current Benchmark at the time of a transition due to a Benchmark Transition Event is not a SOFR-based rate, the Benchmark 

 

 

	
 
		
Replacement therefor shall be determined in accordance with clause (a) of the definition of Benchmark Replacement unless Lender determines that neither of such alternative rates is available; and

	
 
	
(c)
	
at any time that the administrator of the then-current Benchmark has permanently or indefinitely ceased to provide such Benchmark or such Benchmark has been announced by the regulatory supervisor for the administrator of such Benchmark pursuant to public statement or publication of information to be no longer representative of the underlying market and economic reality that such Benchmark is intended to measure and that representativeness will not be restored, Borrower may revoke any request for a borrowing of, conversion to or continuation of Loans to be made, converted or continued that would bear interest by reference to such Benchmark until Borrower’s receipt of notice from Lender that a Benchmark Replacement has replaced such Benchmark, and, failing that, Borrower will be deemed to have converted any such request into a request for a borrowing of or conversion to Base Rate Loans. During the period referenced in the foregoing sentence, the component of Base Rate based on the Benchmark will not be used in any determination of Base Rate.

	
 
	
3.6.3.
	
Conforming Changes.  In connection with the implementation and administration of a Benchmark Replacement, Lender 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.

	
 
	
3.6.4.
	
Notice.  Lender will promptly notify Borrower Agent of the implementation of any Benchmark Replacement and the effectiveness of any Benchmark Replacement Conforming Changes. Any determination, decision or election that may be made by Lender pursuant to this Section, 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 discretion and without consent from any other party hereto, except, in each case, as expressly required pursuant to this Section.

	
 
	
3.6.5.
	
Term Tenors.  At any time (including in connection with the implementation of a Benchmark Replacement), (a) if the then-current Benchmark is a term rate (including Term SOFR or LIBOR), Lender may remove any tenor of such Benchmark that is unavailable or non-representative for Benchmark (including Benchmark Replacement) settings; and (b) Lender may reinstate any such previously removed tenor for Benchmark (including Benchmark Replacement) settings. ”

	
 
	
(g)
	
Section 8.1.17(b) of the Loan Agreement is hereby amended by adding thereto at the end of Section 8.1.17(b) a new sentence to read in its entirety as follows:

 

 

“No Borrower is or will be using plan assets within the meaning of ERISA Section 3(42) or otherwise of one or more Benefit Plans, with respect to its entrance into, participation in, administration of and performance of the Loans, Letter of Credits, Commitments or Loan Documents. ”

	
 
	
(h)
	
A new Section 8.1.31 is hereby added to the Loan Agreement to read in its entirety as follows:

“8.1.31 Affected Financial Institutions: Covered Entity.  No Obligor is an Affected Financial Institution or Covered Entity.”

	
 
	
(i)
	
Section 9.2.1(f) of the Loan Agreement is hereby amended and restated in its entirety as follows:

“[Reserved];”

	
 
	
(j)
	
Section 9.2.2(k) of the Loan Agreement is hereby amended and restated in its entirety as follows:

“[Reserved];”

	
 
	
(k)
	
Section 9.2.6 of the Loan Agreement is amended by (i) deleting the “and” at the end of clause (f) thereof (ii) replacing the “.” at the end of clause (g) with “; and” and (iii) adding a new clause (h) to read in its entirety as follows:

“(h)Obligors may consummate the L.A.R.K Disposition pursuant to the L.A.R.K. Disposition Documents, so long as (i) immediately prior to and after giving effect to such L.A.R.K. Disposition, no Default or Event of Default then exists, and (ii) the proceeds of the L.A.R.K. Disposition are applied to permanently repay in full the Term Debt and repay all existing Revolver Loans.”

	
 
	
(l)
	
Section 9.2.8 of the Loan Agreement is amended by adding at the end thereof the following new sentence:

“Notwithstanding the following, the Term Debt may be repaid in full with the proceeds of the L.A.R.K. Disposition”.

	
 
	
(m)
	
Section 11.15.4 of the Loan Agreement is hereby amended and restated to read in its entirety as follows:  

“Acknowledgement and Consent to Bail-In of Affected Financial Institutions.  Solely to the extent Lender that is an Affected Financial Institution and 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 Lender 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 Lender; 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 Affected 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.”

	
 
	
(n)
	
A new Section 11.22 is hereby added to the Loan Agreement to read in its entirety as follows:  

“11.22Divisions.  Any reference herein to a merger, transfer, consolidation, amalgamation, consolidation, assignment, sale, Asset Disposition or transfer, or similar term, shall be deemed to apply to a Division Transaction (or the unwinding of such a Division Transaction), as if it were a merger, transfer, consolidation, amalgamation, consolidation, assignment, sale, Asset Disposition or transfer, or similar term, as applicable, to, of or with a separate Person.  Notwithstanding anything to the contrary in this Agreement, (i) any division of a limited liability company shall constitute a separate Person hereunder, and each resulting division of any limited liability company that, prior to such division, is a Subsidiary, an Obligor, a joint venture or any other like term shall remain a Subsidiary, an Obligor, a joint venture, or other like term, respectively, after giving effect to such division, to the extent required under this Agreement, and any resulting divisions of such Persons shall remain subject to the same restrictions and corresponding exceptions applicable to the pre-division predecessor of such divisions, (ii) in no event shall Borrower be permitted to effectuate a Division Transaction and (iii) if any Subsidiary shall consummate a Division Transaction permitted under this Agreement in accordance with the foregoing, such Subsidiary shall be required, promptly after the effectiveness of such division, to comply with the requirements set forth in Section 9.1.11 to the extent applicable.”

SECTION 3.Limited Waiver and Consent.  Effective as of the Fourth Amendment Effective Date, Lender hereby consents to the consummation of the L.A.R.K. Disposition Transactions and waives any Event of Default that would otherwise occur under the Loan Agreement solely as a result of the L.A.R.K. Disposition Transactions.  Except as expressly set 

 

 

forth in this Agreement, nothing contained in this Agreement, or any other communication between Lender and any Obligor, shall be construed as a waiver by Lender of any covenant or provision of the Loan Agreement, the other Loan Documents, this Agreement or any other contract or instrument between or among any Obligor or Lender, or of any similar future transaction and the failure of Lender at any time or times hereafter to require strict performance by any Obligor of any provision thereof shall not waive, affect or diminish any right of Lender to thereafter demand strict compliance therewith.  Nothing contained in this Agreement shall directly or indirectly in any way whatsoever either:  (i) impair, prejudice or otherwise adversely affect Lender’s right at any time to exercise any right, privilege or remedy in connection with the Loan Agreement or any other Loan Document, each as amended hereby, (ii) except as expressly provided herein, amend or alter any provision of the Loan Agreement or any other Loan Document or any other contract or instrument, or (iii) constitute any course of dealings or other basis for altering any obligation of any Obligor under the Loan Agreement or any other Loan Document or any right, privilege or remedy of Lender under the Loan Agreement, any other Loan Document or any other contract or instrument.  Lender hereby reserves all rights granted under the Loan Agreement, the other Loan Documents, this Agreement and any other contract or instrument between or among any Obligor and Lender, each as amended hereby.   

SECTION 4.Release of Certain Obligors and Liens. The Lender hereby acknowledges and agrees that upon consummation of the L.A.R.K. Disposition, (i) L.A.R.K., Greencraft Holdings, Greencraft Interiors, Casa Verde, Greencraft Stone and T.A.C. (each individually, a “L.A.R.K. Disposition Entity” and collectively, the “L.A.R.K. Disposition Entities”) shall be released from all Obligations as Obligors under the Loan Agreement and the other Loan Documents, and (ii) any and all Liens granted to the Lender on any of the equity interests in the L.A.R.K. Disposition Entities and any and all Liens granted to the Lender on any and all assets of the L.A.R.K. Disposition Entities shall be automatically and unconditionally released, without representation or warranty. The Lender hereby authorizes the Borrower, its assigns and any party authorized by the Borrower, to file the UCC termination statements attached hereto as Schedule I.

SECTION 5.Effectiveness

.  This Agreement shall become effective upon receipt by the Lender of the following, in each case in form and substance reasonably satisfactory to the Lender in its Permitted Discretion (the date of such effectiveness, the “Fourth Amendment Effective Date”):

	
 
	
(a)
	
original counterparts to this Agreement, duly executed by Borrower, the other Obligors party thereto and the Lender;

	
 
	
(b)
	
Lender shall have received evidence that the Term Debt has been paid off in full, that the Term Debt Documents and the Intercreditor Agreement have been terminated, and that the Cerberus Term Agent and, if relevant, all holders of Term Debt, have released all Liens held by them or for their benefit in the Collateral;

	
 
	
(c)
	
Lender shall have received substantially final drafts of the L.A.R.K. Disposition Documents; 

	
 
	
(d)
	
Lender shall have received proceeds from the L.A.R.K. Disposition in an amount of no less than $26,500,000 and shall have received payment by Borrower on the 

 

 

	
 
		
Revolver Loans in an amount no less than the amount necessary, when combined with the proceeds received by Lender from the L.A.R.K. Disposition, to pay off in full all Revolver Loans;

	
 
	
(e)
	
a certificate of a duly authorized officer of each Obligor, certifying (i) that attached certified copies of such Obligor’s Organic Documents are true and complete, and in full force and effect, without amendment except as shown; (ii) that an attached copy of resolutions authorizing execution and delivery of this Agreement, and the other Loan Documents, as applicable, are true and complete, and that such resolutions are in full force and effect, were duly adopted, have not been amended, modified or revoked, and constitute all resolutions adopted with respect to the credit facility; (iii) to the title, name and signature of each Person authorized to sign this Agreement and the other Loan Documents; and (iv) that the attached certified copies of the good standing certificates of each Obligor, issued by the Secretary of State or other appropriate official of such Obligor’s jurisdiction of organization are true and complete, and in full force and effect.  Lender may conclusively rely on this certificate until it is otherwise notified by the applicable Obligor in writing;

	
 
	
(f)
	
Borrower shall have paid to Lender, and hereby agrees to pay to Lender, an amendment fee in an amount equal to $10,000; and

	
 
	
(g)
	
Immediately prior to, and after giving effect to this Agreement, (i) no Event of Default shall have occurred or be occurring and (ii) the representations and warranties contained herein and in the Loan Agreement and the other Loan Documents, as each is amended hereby, are true and correct as of such date, as if made on such date, except for those representations and warranties specifically made as of an earlier date, which shall be true and correct as of such earlier date. 

The Obligors shall be deemed to represent and warrant to Lender that each of the foregoing conditions have been satisfied upon the release of their respective signatures to this Agreement.  All fees and other amounts payable in connection with this Agreement shall be non-refundable and fully earned upon the Lender’s receipt of such fees or amounts.

SECTION 6.Notices; Etc.

  All notices and other communications provided for hereunder shall comply with Section 11.4 of the Loan Agreement.

SECTION 7.General Provisions

.

	
 
	
(a)
	
Each Obligor confirms that all of its Obligations under the Loan Agreement and the Loan Documents (each as amended by this Agreement) are in full force and effect and are performable in accordance with their respective terms without setoff, defense, counter-claim or claims in recoupment.  Each Obligor hereby ratifies and confirms the Liens and security interests granted under the Loan Agreement and the Loan Documents and further ratifies and agrees that such Liens and security interests secure all obligations and indebtedness now, hereafter or from time to time made by, owing to or arising in favor of the Lender pursuant to the Loan Agreement and the Loan Documents (as now, hereafter or from time to time amended).

 

 

	
 
	
(b)
	
Each Obligor agrees that at any time and from time to time, upon the written request of Lender, such Obligor will execute and deliver such further documents and do such further acts and things as the Lender may reasonably request in its Permitted Discretion in order to effect the provisions of this Agreement.

	
 
	
(c)
	
Except as supplemented hereby, the Loan Agreement and each other Loan Document shall continue to be, and shall remain, in full force and effect.  This Agreement shall not be deemed (i) to be a waiver of, or consent to, or a modification or amendment of, any other term or condition of the Loan Agreement or any other Loan Document or (ii) to prejudice any right or rights which the Lender may now have or may have in the future under or in connection with the Loan Agreement or the other Loan Documents or any of the instruments or agreements referred to therein, as the same may be amended, restated, supplemented or otherwise modified from time to time, including any replacement instrument or agreement therefor.

	
 
	
(d)
	
Borrower agrees to pay on demand all reasonable and documented out-of-pocket costs and expenses incurred by or on behalf of the Lender in connection with the negotiation, preparation, execution, delivery and performance of this Agreement, including, without limitation, the reasonable fees, costs, client charges and expenses of counsel for the Lender.

	
 
	
(e)
	
This Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which shall be deemed to be an original, but all of which taken together shall constitute one and the same agreement.  Delivery of an executed counterpart of this Agreement by telecopier or electronic transmission shall be equally as effective as delivery of an original executed counterpart of this Agreement.  Any party delivering an executed counterpart of this Agreement by telecopier or electronic transmission also shall deliver an original executed counterpart of this Agreement but the failure to deliver an original executed counterpart shall not affect the validity, enforceability, and binding effect of this Agreement.

	
 
	
(f)
	
Section headings in this Agreement are included herein for the convenience of reference only and shall not constitute a part of this Agreement for any other purpose.

	
 
	
(g)
	
In addition to and without limitation of any of the foregoing, this Agreement shall be deemed to be a Loan Document and shall otherwise be subject to all of terms and conditions contained in Sections 11.14, 11.15 and 11.16 of the Loan Agreement, mutatis mutandi.

	
 
	
(h)
	
This Agreement, together with the Loan Agreement and the other Loan Documents, reflects the entire understanding of the, parties with respect to the transactions contemplated hereby and thereby and shall not be contradicted or qualified by any other agreement, oral or written, before the date hereof.

 

 

 

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their respective officers thereunto duly authorized, as of the date first above written.

BORROWERS:

SELECT INTERIOR CONCEPTS, INC.

By: /s/ Nadeem Moiz                                                  _

Name: Nadeem Moiz

Title: Chief Financial Officer

ARCHITECTURAL GRANITE & MARBLE, LLC

By: Architectural Surfaces Group, LLC its Sole Member

By: SIC Intermediate, Inc., its Sole Member

By: /s/ Nadeem Moiz                           _

Name: Nadeem Moiz

Title: Chief Financial Officer

PENTAL GRANITE AND MARBLE, LLC

By: Architectural Granite & Marble, LLC its Sole Member

	
 
	
By:
	
Architectural Surfaces Group, LLC its Sole Member

By: SIC Intermediate, Inc., its Sole Member

By: /s/ Nadeem Moiz                           _

Name: Nadeem Moiz

Title: Chief Financial Officer

 

 

OTHER OBLIGORS:

ARCHITECTURAL SURFACES GROUP, LLC

By: SIC Intermediate, Inc., its Sole Member

By: /s/ Nadeem Moiz                                     _

Name: Nadeem Moiz

Title: Chief Financial Officer

RESIDENTIAL DESIGN SERVICES, LLC

By: SIC Intermediate, Inc., its Sole Member

By: /s/ Nadeem Moiz                                     _

Name: Nadeem Moiz

Title: Chief Financial Officer

AG HOLDCO (SPV), LLC

By: Architectural Granite & Marble, LLC its Sole Member

	
 
	
By:
	
Architectural Surfaces Group, LLC its Sole Member

By: SIC Intermediate, Inc., its Sole Member

By: /s/ Nadeem Moiz                              _

Name: Nadeem Moiz

Title: Chief Financial Officer

SIC INTERMEDIATE, INC.

By: /s/ Nadeem Moiz                                                  _

Name: Nadeem Moiz

Title: Chief Financial Officer

 

 

LENDER:

BANK OF AMERICA, N.A.

By: /s/ Steve Siravo                                                      _

Name: Steve Siravo

Title: SVP

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