Document:

arlp_Ex_10_1

		
			EXHIBIT 10.1
		

		
			EXECUTION COPY
		

		
			AMENDMENT NO. 1 TO THE
CREDIT AGREEMENT
		

		
			Dated as of April 3, 2017
		

		
			AMENDMENT NO. 1 TO THE CREDIT AGREEMENT (this “Amendment”) among ALLIANCE RESOURCE OPERATING PARTNERS, L.P., a Delaware limited partnership (the “Borrower”), the banks, financial institutions and other institutional lenders parties to the Credit Agreement referred to below (collectively, the “Lenders”) and JPMORGAN CHASE BANK, N.A., as agent (the “Agent”) for the Lenders.
		

		
			PRELIMINARY STATEMENTS:
		

		
			(1)The Borrower, the Lenders and the Agent have entered into a Fourth Amended and Restated Credit Agreement dated as of January 27, 2017 (the “Credit Agreement”).  Capitalized terms not otherwise defined in this Amendment have the same meanings as specified in the Credit Agreement.
		

		
			(2)The Borrower has requested certain amendments to the Credit Agreement and has requested that the Extending Lenders further extend their respective Revolving Credit Commitments, Letter of Credit Commitments and Swing Line Commitments, as applicable, for an additional two years, to May 23, 2021.
		

		
			(3)The Required Lenders have agreed to amend the Credit Agreement as hereinafter set forth, and each of the Extending Lenders so indicating on its signature page hereto has agreed to extend its Revolving Credit Commitment, Letter of Credit Commitment and Swing Line Commitment, as applicable, for an additional two years, to May 23, 2021.
		

		
			SECTION 1.Amendments to Credit Agreement.  The Credit Agreement is, effective as of the date hereof and subject to the satisfaction of the conditions precedent set forth in Section 4, hereby amended as follows:
		

			
	
			
				 (a)
			The following definitions are added to Section 1.01 in appropriate alphabetical order:

		
			“Amendment No. 1”  means Amendment No. 1 to this Agreement, dated as of April 3, 2017.
		

		
			“Extending Lender (2019)”  means each Extending Lender that does not agree to extend its Revolving Credit Commitment, Letter of Credit Commitment and the Swing Line Commitment (to the extent applicable) in accordance with Section 2 of Amendment No. 1.
		

		
			

		 

 

		

			2

		

		

		
			“Extending Lender (2021)” means each Extending Lender that agrees to extend its Revolving Credit Commitment, Letter of Credit Commitment and the Swing Line Commitment (to the extent applicable) in accordance with Section 2 of Amendment No. 1.
		

		
			“Non-Consenting Lender” means any Lender that does not approve any (i) consent, waiver or amendment that (x) requires the approval of all or all affected Lenders in accordance with the terms of Section 8.01 and (y) has been approved by the Required Lenders or (ii) request by the Borrower for an extension of the Termination Date.
		

			
	
			
				 (b)
			The definitions of “Related Documents” and “Termination Date” in Section 1.01 is amended in full to read as follows:

		
			“Related Documents” means the Partnership Agreement and the MLP Agreement.
		

		
			“Termination Date” means:
		

		
			(a) with respect to the Term Advances and the Term Facility, the earlier of (i) May 23, 2017 and (ii) the acceleration of the Term Advances pursuant to Section 6.01; and
		

		
			(b) with respect to the Revolving Credit Commitments, the Letter of Credit Commitment, the Swing Line Commitment and the Revolving Credit Facility, the earlier of (i) (x) for each Non-Extending Lender, May 23, 2017, (y) for each Extending Lender (2019), May 23, 2019 and (z) for each Extending Lender (2021), May 23, 2021 and (ii) the date of termination in whole of the Revolving Credit Commitments, the Letter of Credit Commitment and the Swing Line Commitment pursuant to Section 2.05 or 6.01.
		

			
	
			
				 (c)
			Section 2.04(b)(ii) is amended in full to read as follows:

		
			(ii)The Borrower shall repay to the Administrative Agent for the ratable account of the Revolving Credit Lenders that are Extending Lenders on the Termination Date for the Revolving Credit Facility applicable to such Extending Lenders the aggregate principal amount of the Revolving Credit Advances owing to such Extending Lenders then outstanding.
		

			
	
			
				 (d)
			There is added to the end of Section 2.13 the following sentence:

		
			Each of the Extending Lenders hereby acknowledges and agrees that principal repayments made to the Extending Lenders (2019) on the Termination Date applicable to the Extending Lenders (2019) (and not also applicable to the Extending Lenders (2021)) shall not be subject to the share provisions of this Section.
		

			
	
			
				 (e)
			Section 2.17(b) is amended (i) by deleting the phrase “or if any Lender becomes a Defaulting Lender” and substituting therefor the phrase “or if any Lender becomes a Defaulting Lender, or if any Lender is a Non-Consenting Lender” and (ii) by adding thereto a new clause (iv) at the end of the first sentence to read as follows:

		
			

		 

 

		

			3

		

		

		
			and (iv) in the case of any assignment resulting from a Lender becoming a Non-Consenting Lender, the applicable assignee shall have consented to the applicable amendment, waiver or consent or the applicable request for extension
		

			
	
			
				 (f)
			Section 5.01(n) is deleted in full and replaced with “Intentionally omitted”.

			
	
			
				 (g)
			Section 5.02(b)(i)(B) is amended by deleting the phrase “incurred in the ordinary course of business”.

			
	
			
				 (h)
			Section 5.02(b)(i)(C) is amended by deleting the phrase “incurred in the ordinary course of business”.

			
	
			
				 (i)
			Section 5.02(b)(i)(D) is amended in full to read as follows:

		
			(D)(i) the Senior Notes and Permitted Junior Refinancing Debt in respect thereof in an aggregate principal amount not to exceed $145,000,000 and (ii) junior secured Debt in an aggregate principal amount at any time outstanding not to exceed $300,000,000; provided that, in the case of this clause (ii), (a) such Debt is (i) if secured, secured by Liens on (x) the Collateral that are junior to the Liens on the Collateral securing the Obligations and/or (y) property of Persons other than the Borrower or its Subsidiaries, (ii) not secured by any property or assets of any Loan Party other than the Collateral and (iii) not guaranteed by Subsidiaries of the Borrower other than the Subsidiary Guarantors, (b) such Debt does not mature or have scheduled amortization or scheduled payments of principal and is not subject to mandatory redemption, repurchase, prepayment or sinking fund obligation (other than customary offers to repurchase upon a change of control, asset sale or casualty event and customary acceleration rights after an event of default), prior to the date that is 90 days after the latest Termination Date applicable to the Facilities at the time such Debt is incurred, (c) the security agreements (if such debt is secured by the Collateral) and guarantees (if such Debt is guaranteed by one or more Subsidiary Guarantors) of the Borrower and its Subsidiaries relating to such Debt have terms not more favorable to the respective creditors than the terms of the Collateral Documents and the Subsidiary Guaranty (with such differences as are appropriate to reflect the nature of such junior lien Debt and any other differences reasonably satisfactory to the Administrative Agent or the Collateral Agent) and (d) if such Debt is secured by the Collateral, a Representative acting on behalf of the holders of such Debt shall have become party to, or otherwise be subject to the provisions of, the Second Lien Intercreditor Agreement;
		

			
	
			
				 (j)
			Section 5.02(b)(iii)(F) is amended by deleting the phrase “and incurred in the ordinary course of business”.

			
	
			
				 (k)
			Section 5.02(b)(iii)(G) is amended by deleting the phrase “and other unsecured Debt”.

			
	
			
				 (l)
			Section 5.02(b)(iii) is further amended by adding to the end thereof a new clause (I) to read as follows:

		
			

		 

 

		

			4

		

		

		
			(I)Debt of a newly formed, Wholly Owned Subsidiary of the Borrower, solely to the extent such Debt is issued as a co-obligor (with the Borrower) of Debt issued in the capital markets having a maturity not earlier than November 23, 2021.
		

			
	
			
				 (m)
			Section 5.02(g) is amended by deleting the ratio “1.25:1.0” and substituting therefor the ratio “1.15:1.0”.

			
	
			
				 (n)
			Section 5.02(l) is deleted in full and replaced with “Intentionally omitted”.

			
	
			
				 (o)
			Section 5.04(a) is amended by deleting the ratio “2.25:1.0” and substituting therefor the ratio “2.50:1.0”.

		
			SECTION 2.Consent to Extension Request.  Upon the satisfaction of the conditions precedent set forth in Section 4, and subject to the further condition that Extending Lenders holding at least 75% of the Revolving Credit Commitments of the Extending Lenders as of the date of this Amendment so agree, each Extending Lender so indicating on its signature page to this Amendment hereby agrees to extend the Termination Date with respect to its Revolving Credit Commitment, Letter of Credit Commitment and the Swing Line Commitment (to the extent applicable) for a period of two years, expiring May 23, 2021.  
		

		
			SECTION 3.Waiver.  Upon the satisfaction of the conditions precedent set forth in Section 4, Section 5.02(k) of the Credit Agreement is hereby waived to permit the Borrower to apply the proceeds of the Debt Issuance (as defined below) to the prepayment in full of the Notes Obligations (as defined in the Intercreditor Agreement).
		

		
			SECTION 4.Conditions of Effectiveness.  (a) Section 1(l) of this Amendment shall become effective as of the date first above written when, and only when, on or before June 30, 2017 the Agent shall have received counterparts of this Amendment executed by the Borrower and the Required Lenders and the consent attached hereto executed by each Guarantor.  
		

		
			(b)This Amendment (other than Section 1(l)) shall become effective as of the date first above written when, and only when, on or before June 30, 2017 the following conditions have been satisfied:
		

		
			(i)The Borrower shall have received not less than $350,000,000 in gross proceeds from unsecured Debt issued in the capital markets having a maturity not earlier than November 23, 2021 (the “Debt Issuance”) and all Notes Obligations held by the holders of the Senior Notes shall have been paid in full (other than contingent indemnification obligations not yet due and payable).
		

		
			(ii)The Borrower shall have paid to the Agent for the account of each Extending Lender (2021) such fees as have been separately agreed in writing.
		

		
			(iii)The Borrower shall have paid fees and expenses of Shearman & Sterling LLP, counsel to the Administrative Agent, to the extent that such fees and expenses have been invoiced at least 24 hours prior to the date thereof.
		

		
			

		 

 

		

			5

		

		

		
			This Amendment is subject to the provisions of Section 8.01 of the Credit Agreement.
		

		
			SECTION 5.Representations and Warranties of the Borrower.  The Borrower represents and warrants that the representations and warranties contained in Section 4.01 of the Credit Agreement are correct in all material respects (other than any representation or warranty qualified by materiality or Material Adverse Effect, which shall be true and correct in all respects) on and as of the date hereof after giving effect to the extension of Commitments as contemplated hereby (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date), before and after giving effect to this Amendment, and no Default has occurred and is continuing.
		

		
			SECTION  6.Reference to and Effect on the Loan Documents.    (a)  On and after the effectiveness of this Amendment, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof” or words of like import referring to the Credit Agreement, and each reference in the Notes and each of the other Loan Documents to “the Credit Agreement”, “thereunder”, “thereof” or words of like import referring to the Credit Agreement, shall mean and be a reference to the Credit Agreement, as amended by this Amendment.  
		

		
			(b)The Credit Agreement, the Notes and each of the other Loan Documents, as specifically amended by this Amendment, are and shall continue to be in full force and effect and are hereby in all respects ratified and confirmed.  Without limiting the generality of the foregoing, the Collateral Documents and all of the Collateral described therein do and shall continue to secure the payment of all Obligations of the Loan Parties under the Loan Documents, in each case as amended by this Amendment.
		

		
			(c)The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of any Lender or the Agent under any of the Loan Documents, nor constitute a waiver of any provision of any of the Loan Documents.
		

		
			SECTION 7.Costs and Expenses.  The Borrower agrees to pay on demand all costs and expenses of the Agent in connection with the preparation, execution, delivery and administration, modification and amendment of this Amendment and the other instruments and documents to be delivered hereunder (including, without limitation, the reasonable fees and expenses of counsel for the Agent) in accordance with the terms of Section 8.04 of the Credit Agreement.  
		

		
			SECTION 8.Execution in Counterparts.  This Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute but one and the same agreement.  Delivery of an executed counterpart of a signature page to this Amendment by telecopier shall be effective as delivery of a manually executed counterpart of this Amendment.
		

		
			

		 

 

		

			6

		

		

		
			SECTION 9.Governing Law.  This Amendment shall be governed by, and construed in accordance with, the laws of the State of New York.
		

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

			
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						ALLIANCE RESOURCE OPERATING PARTNERS, L.P.

				
	
					
						 

					
					
						 

					
					
						By:

					
					
						ALLIANCE RESOURCE MANAGEMENT GP, 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						LLC, its Managing General Partner

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						By:

					
					
						/s/ Cary P. Marshall

				
	
					
						 

					
					
						 

					
					
						 

					
					
						Name:

					
					
						Cary P. Marshall

				
	
					
						 

					
					
						 

					
					
						 

					
					
						Title:

					
					
						Vice President-Corporate Finance and 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						Treasurer

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						JPMORGAN CHASE BANK, N.A.,

				
	
					
						 

					
					
						 

					
					
						as Administrative Agent

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						By:

					
					
						/s/ James Shender

				
	
					
						 

					
					
						 

					
					
						 

					
					
						Name:

					
					
						James Shender

				
	
					
						 

					
					
						 

					
					
						 

					
					
						Title:

					
					
						Vice President

				

		
			 
		

		
			 
		

		
			 
		

		
			

		 

 

		

		
			SIGNATURE PAGE
		

		
			 
		

		
			CONSENT TO AMENDMENT NO. 1 to the FOURTH AMENDED AND RESTATED CREDIT AGREEMENT dated as of jANUARY 27, 2017 of ALLIANCE RESOURCE OPERATING PARTNERS, L.P.
		

		
			 
		

		
			 
		

		
			Name of Lender: JPMORGAN CHASE BANK, N.A.,
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						by

					
					
						/s/ James Shender

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						James Shender

					
					
						 

				
	
					
						 

					
					
						Title: 

					
					
						Vice President

					
					
						 

				

		
			 
		

		
			 
		

		
			CONSENT TO EXTENSION OF TERMINATION DATE:
		

		
			 
		

		
			 
		

		
			Name of Lender: JPMORGAN CHASE BANK, N.A.,
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						by

					
					
						/s/ James Shender

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						James Shender

					
					
						 

				
	
					
						 

					
					
						Title: 

					
					
						Vice President

					
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		
			

		 

 

		

		
			SIGNATURE PAGE
		

		
			 
		

		
			CONSENT TO AMENDMENT NO. 1 to the FOURTH AMENDED AND RESTATED CREDIT AGREEMENT dated as of jANUARY 27, 2017 of ALLIANCE RESOURCE OPERATING PARTNERS, L.P.
		

		
			 
		

		
			 
		

		
			Name of Lender: Wells Fargo Bank, National Association
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						by

					
					
						/s/ Jeffrey cobb

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						Jeffrey Cobb

					
					
						 

				
	
					
						 

					
					
						Title: 

					
					
						Director

					
					
						 

				
	
					
						 

					
					
						Date:

					
					
						04/03/2017

					
					
						 

				

		
			 
		

		
			 
		

		
			CONSENT TO EXTENSION OF TERMINATION DATE:
		

		
			 
		

		
			 
		

		
			Name of Lender: Wells Fargo Bank, National Association
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						by

					
					
						/s/ Jeffrey cobb

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						Jeffrey Cobb

					
					
						 

				
	
					
						 

					
					
						Title: 

					
					
						Director

					
					
						 

				
	
					
						 

					
					
						Date:

					
					
						04/05/2017

					
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			

		 

 

		

		
			SIGNATURE PAGE
		

		
			 
		

		
			CONSENT TO AMENDMENT NO. 1 to the FOURTH AMENDED AND RESTATED CREDIT AGREEMENT dated as of jANUARY 27, 2017 of ALLIANCE RESOURCE OPERATING PARTNERS, L.P.
		

		
			 
		

		
			 
		

		
			Name of Lender: Citibank, N.A. 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						by

					
					
						/s/ Sumeet Singal

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						Sumeet Singal

					
					
						 

				
	
					
						 

					
					
						Title: 

					
					
						Vice President

					
					
						 

				

		
			 
		

		
			 
		

		
			CONSENT TO EXTENSION OF TERMINATION DATE:
		

		
			 
		

		
			 
		

		
			Name of Lender: Citibank, N.A. 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						by

					
					
						/s/ Sumeet Singal

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						Sumeet Singal

					
					
						 

				
	
					
						 

					
					
						Title: 

					
					
						Vice President

					
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		
			

		 

 

		

		
			SIGNATURE PAGE
		

		
			 
		

		
			CONSENT TO AMENDMENT NO. 1 to the FOURTH AMENDED AND RESTATED CREDIT AGREEMENT dated as of jANUARY 27, 2017 of ALLIANCE RESOURCE OPERATING PARTNERS, L.P.
		

		
			 
		

		
			 
		

		
			BOKF, N.A.
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						by

					
					
						/s/ Stevens E. Warrick

					
					
						 

				
	
					
						 

					
					
						Stevens E. Warrick, SVP

					
					
						 

				

		
			 
		

		
			 
		

		
			CONSENT TO EXTENSION OF TERMINATION DATE:
		

		
			 
		

		
			 
		

		
			BOKF, N.A.
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						by

					
					
						/s/ Stevens E. Warrick

					
					
						 

				
	
					
						 

					
					
						Stevens E. Warrick, SVP

					
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		
			

		 

 

		

		
			SIGNATURE PAGE
		

		
			 
		

		
			CONSENT TO AMENDMENT NO. 1 to the FOURTH AMENDED AND RESTATED CREDIT AGREEMENT dated as of jANUARY 27, 2017 of ALLIANCE RESOURCE OPERATING PARTNERS, L.P.
		

		
			 
		

		
			Name of Lender:  Branch Banking and Trust Company
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						by

					
					
						/s/ Max N. Greer III

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						Max N. Greer III

					
					
						 

				
	
					
						 

					
					
						Title: 

					
					
						Senior Vice President

					
					
						 

				

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						by1

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Title: 

					
					
						 

					
					
						 

				

		
			 
		

		
			 
		

		
			CONSENT TO EXTENSION OF TERMINATION DATE:
		

		
			 
		

		
			 
		

		
			Name of Lender:  Branch Banking and Trust Company
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						by

					
					
						/s/ Max N. Greer III

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						Max N. Greer III

					
					
						 

				
	
					
						 

					
					
						Title: 

					
					
						Senior Vice President

					
					
						 

				

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						by2

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Title: 

					
					
						 

					
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		

		
			1 For any Lender requiring a second signature line.
		

		
			2 For any Lender requiring a second signature line.
		

		
			 
		

		
			 
		

		
			

		 

 

		

		
			SIGNATURE PAGE
		

		
			 
		

		
			CONSENT TO AMENDMENT NO. 1 to the FOURTH AMENDED AND RESTATED CREDIT AGREEMENT dated as of jANUARY 27, 2017 of ALLIANCE RESOURCE OPERATING PARTNERS, L.P.
		

		
			 
		

		
			 
		

		
			Name of Lender:  Mabrey Bank
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						by

					
					
						/s/ John D. Pixley

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						John D. Pixley

					
					
						 

				
	
					
						 

					
					
						Title: 

					
					
						EVP

					
					
						 

				

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						by1

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Title: 

					
					
						 

					
					
						 

				

		
			 
		

		
			 
		

		
			CONSENT TO EXTENSION OF TERMINATION DATE:
		

		
			 
		

		
			 
		

		
			Name of Lender:  Mabrey Bank
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						by

					
					
						/s/ John D. Pixley

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						John D. Pixley

					
					
						 

				
	
					
						 

					
					
						Title: 

					
					
						EVP

					
					
						 

				

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						by2

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Title: 

					
					
						 

					
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		

		
			1 For any Lender requiring a second signature line.
		

		
			2 For any Lender requiring a second signature line.
		

		
			 
		

		
			 
		

		
			

		 

 

		

		
			SIGNATURE PAGE
		

		
			 
		

		
			CONSENT TO AMENDMENT NO. 1 to the FOURTH AMENDED AND RESTATED CREDIT AGREEMENT dated as of jANUARY 27, 2017 of ALLIANCE RESOURCE OPERATING PARTNERS, L.P.
		

		
			 
		

		
			 
		

		
			Name of Lender: Fifth Third Bank 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						by

					
					
						/s/ Christopher Mosley

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						Christopher Mosley

					
					
						 

				
	
					
						 

					
					
						Title: 

					
					
						Vice President

					
					
						 

				

		
			 
		

		
			 
		

		
			CONSENT TO EXTENSION OF TERMINATION DATE:
		

		
			 
		

		
			 
		

		
			Name of Lender: Fifth Third Bank 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						by

					
					
						/s/ Christopher Mosley

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						Christopher Mosley

					
					
						 

				
	
					
						 

					
					
						Title: 

					
					
						Vice President

					
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		
			

		 

 

		

		
			SIGNATURE PAGE
		

		
			 
		

		
			CONSENT TO AMENDMENT NO. 1 to the FOURTH AMENDED AND RESTATED CREDIT AGREEMENT dated as of jANUARY 27, 2017 of ALLIANCE RESOURCE OPERATING PARTNERS, L.P.
		

		
			 
		

		
			 
		

		
			Name of Lender:  Planters Bank, Inc.
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						by

					
					
						/s/ Leigh Durden

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						Leigh Durden

					
					
						 

				
	
					
						 

					
					
						Title: 

					
					
						Senior Vice President

					
					
						 

				

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						by1

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Title: 

					
					
						 

					
					
						 

				

		
			 
		

		
			 
		

		
			CONSENT TO EXTENSION OF TERMINATION DATE:
		

		
			 
		

		
			 
		

		
			Name of Lender:  Planters Bank, Inc.
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						by

					
					
						/s/ Leigh Durden

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						Leigh Durden

					
					
						 

				
	
					
						 

					
					
						Title: 

					
					
						Senior Vice President

					
					
						 

				

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						by2

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Title: 

					
					
						 

					
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		

		
			1 For any Lender requiring a second signature line.
		

		
			2 For any Lender requiring a second signature line.
		

		
			 
		

		
			 
		

		
			

		 

 

		

		
			SIGNATURE PAGE
		

		
			 
		

		
			CONSENT TO AMENDMENT NO. 1 to the FOURTH AMENDED AND RESTATED CREDIT AGREEMENT dated as of jANUARY 27, 2017 of ALLIANCE RESOURCE OPERATING PARTNERS, L.P.
		

		
			
		

		
			 
		

		
			Name of Lender: PNC BANK, NATIONAL ASSOCIATION 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						by

					
					
						/s/ Mahir Desai

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						Mahir Desai

					
					
						 

				
	
					
						 

					
					
						Title: 

					
					
						Vice President

					
					
						 

				

		
			 
		

		
			 
		

		
			CONSENT TO EXTENSION OF TERMINATION DATE:
		

		
			 
		

		
			 
		

		
			Name of Lender: PNC BANK, NATIONAL ASSOCIATION 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						by

					
					
						/s/ Mahir Desai

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						Mahir Desai

					
					
						 

				
	
					
						 

					
					
						Title: 

					
					
						Vice President

					
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		
			

		 

 

		

		
			SIGNATURE PAGE
		

		
			 
		

		
			CONSENT TO AMENDMENT NO. 1 to the FOURTH AMENDED AND RESTATED CREDIT AGREEMENT dated as of jANUARY 27, 2017 of ALLIANCE RESOURCE OPERATING PARTNERS, L.P.
		

		
			
		

		
			 
		

		
			Name of Lender:  Central Bank & Trust Co.
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						by

					
					
						/s/ Mark B. Kaufmann

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						Mark B. Kaufmann

					
					
						 

				
	
					
						 

					
					
						Title: 

					
					
						Senior Vice President

					
					
						 

				

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						by1

					
					
						 

					
					
						 

				
	
					
						 

					
					
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						Title: 

					
					
						 

					
					
						 

				

		
			 
		

		
			 
		

		
			CONSENT TO EXTENSION OF TERMINATION DATE:
		

		
			 
		

		
			 
		

		
			Name of Lender:  Central Bank & Trust Co.
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						by

					
					
						/s/ Mark B. Kaufmann

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						Mark B. Kaufmann

					
					
						 

				
	
					
						 

					
					
						Title: 

					
					
						Senior Vice President

					
					
						 

				

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						by2

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Title: 

					
					
						 

					
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		

		
			1 For any Lender requiring a second signature line.
		

		
			2 For any Lender requiring a second signature line.
		

		
			 
		

		
			 
		

		
			

		 

 

		

		
			SIGNATURE PAGE
		

		
			 
		

		
			CONSENT TO AMENDMENT NO. 1 to the FOURTH AMENDED AND RESTATED CREDIT AGREEMENT dated as of jANUARY 27, 2017 of ALLIANCE RESOURCE OPERATING PARTNERS, L.P.
		

		
			 
		

		
			 
		

		
			Name of Lender: GOLDMAN SACHS BANK USA
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						by

					
					
						/s/ Rebecca Kratz

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						Rebecca Kratz

					
					
						 

				
	
					
						 

					
					
						Title: 

					
					
						Authorized Signatory

					
					
						 

				

		
			 
		

		
			 
		

		
			CONSENT TO EXTENSION OF TERMINATION DATE:
		

		
			 
		

		
			 
		

		
			Name of Lender: GOLDMAN SACHS BANK USA
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						by

					
					
						/s/ Rebecca Kratz

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						Rebecca Kratz

					
					
						 

				
	
					
						 

					
					
						Title: 

					
					
						Authorized Signatory

					
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		
			

		 

 

		

		
			SIGNATURE PAGE
		

		
			 
		

		
			CONSENT TO AMENDMENT NO. 1 to the FOURTH AMENDED AND RESTATED CREDIT AGREEMENT dated as of jANUARY 27, 2017 of ALLIANCE RESOURCE OPERATING PARTNERS, L.P.
		

		
			
		

		
			 
		

		
			Name of Lender:  STIFEL BANK & TRUST
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						by

					
					
						/s/ Timothy Hill

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						Timothy Hill

					
					
						 

				
	
					
						 

					
					
						Title: 

					
					
						Vice President

					
					
						 

				

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						by1

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Title: 

					
					
						 

					
					
						 

				

		
			 
		

		
			 
		

		
			CONSENT TO EXTENSION OF TERMINATION DATE:
		

		
			 
		

		
			 
		

		
			Name of Lender:  STIFEL BANK & TRUST
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						by

					
					
						/s/ Timothy Hill

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						Timothy Hill

					
					
						 

				
	
					
						 

					
					
						Title: 

					
					
						Vice President

					
					
						 

				

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						by2

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Title: 

					
					
						 

					
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		

		
			1 For any Lender requiring a second signature line.
		

		
			2 For any Lender requiring a second signature line.
		

		
			 
		

		
			 
		

		
			

		 

 

		

		
			SIGNATURE PAGE
		

		
			 
		

		
			CONSENT TO AMENDMENT NO. 1 to the FOURTH AMENDED AND RESTATED CREDIT AGREEMENT dated as of jANUARY 27, 2017 of ALLIANCE RESOURCE OPERATING PARTNERS, L.P.
		

		
			
		

		
			 
		

		
			Name of Lender:  Sumitomo Mitsui Banking Corporation
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						by

					
					
						/s/ James D. Weinstein

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						James D. Weinstein

					
					
						 

				
	
					
						 

					
					
						Title: 

					
					
						Managing Director

					
					
						 

				

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						by1

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Title: 

					
					
						 

					
					
						 

				

		
			 
		

		
			 
		

		
			CONSENT TO EXTENSION OF TERMINATION DATE:
		

		
			 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						by

					
					
						/s/ James D. Weinstein

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						James D. Weinstein

					
					
						 

				
	
					
						 

					
					
						Title: 

					
					
						Managing Director

					
					
						 

				

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						by2

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Title: 

					
					
						 

					
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		

		
			1 For any Lender requiring a second signature line.
		

		
			2 For any Lender requiring a second signature line.
		

		
			 
		

		
			 
		

		
			

		 

 

		

		
			SIGNATURE PAGE
		

		
			 
		

		
			CONSENT TO AMENDMENT NO. 1 to the FOURTH AMENDED AND RESTATED CREDIT AGREEMENT dated as of jANUARY 27, 2017 of ALLIANCE RESOURCE OPERATING PARTNERS, L.P.
		

		
			 
		

		
			 
		

		
			Name of Lender:  Chang Hwa Commercial Bank, Ltd., Los Angeles Branch
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						by

					
					
						/s/ Jeng-Ping Tang

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						Jeng-Ping Tang

					
					
						 

				
	
					
						 

					
					
						Title: 

					
					
						AVP & AGM

					
					
						 

				

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						by1

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Title: 

					
					
						 

					
					
						 

				

		
			 
		

		
			 
		

		
			CONSENT TO EXTENSION OF TERMINATION DATE:
		

		
			 
		

		
			 
		

		
			Name of Lender:  Chang Hwa Commercial Bank, Ltd., Los Angeles Branch
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						by

					
					
						/s/ Jeng-Ping Tang

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						Jeng-Ping Tang

					
					
						 

				
	
					
						 

					
					
						Title: 

					
					
						AVP & AGM

					
					
						 

				

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						by2

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Title: 

					
					
						 

					
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		

		
			1 For any Lender requiring a second signature line.
		

		
			2 For any Lender requiring a second signature line.
		

		
			 
		

		
			 
		

		
			

		 

 

		

			 

		

		

		
			CONSENT
		

		
			Dated as of April 3, 2017
		

		
			Each of the undersigned, as Guarantors under the Subsidiary Guaranty dated as of January 27, 2017 (the “Guaranty”) in favor of the Agent, for its benefit and the benefit of the Lenders parties to the Credit Agreement referred to in the foregoing Amendment, hereby consents to such Amendment and hereby confirms and agrees that (a) notwithstanding the effectiveness of such Amendment, the Guaranty is, and shall continue to be, in full force and effect and is hereby ratified and confirmed in all respects, except that, on and after the effectiveness of such Amendment, each reference in the Guaranty to the “Credit Agreement”, “thereunder”, “thereof” or words of like import shall mean and be a reference to the Credit Agreement, as amended by such Amendment, and (b) the Collateral Documents to which such Guarantor is a party and all of the Collateral described therein do, and shall continue to, secure the payment of all of the Secured Obligations (in each case, as defined therein).
		

			
					
						 

					
					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

				
	
					
						 

					
					
						ALLIANCE COAL, LLC

				
	
					
						 

					
					
						ALLIANCE DESIGN GROUP, LLC

				
	
					
						 

					
					
						ALLIANCE LAND, LLC

				
	
					
						 

					
					
						ALLIANCE MINERALS, LLC

				
	
					
						 

					
					
						ALLIANCE PROPERTIES, LLC

				
	
					
						 

					
					
						ALLIANCE RESOURCE PROPERTIES, LLC

				
	
					
						 

					
					
						ALLIANCE SERVICE, INC.

				
	
					
						 

					
					
						ALLIANCE WOR PROPERTIES, LLC

				
	
					
						 

					
					
						ARP SEBREE, LLC

				
	
					
						 

					
					
						ARP SEBREE SOUTH, LLC

				
	
					
						 

					
					
						BACKBONE MOUNTAIN, LLC

				
	
					
						 

					
					
						CR MACHINE SHOP, LLC

				
	
					
						 

					
					
						CR SERVICES, LLC

				
	
					
						 

					
					
						EXCEL MINING, LLC

				
	
					
						 

					
					
						GIBSON COUNTY COAL, LLC

				
	
					
						 

					
					
						HAMILTON COUNTY COAL, LLC

				
	
					
						 

					
					
						HOPKINS COUNTY COAL, LLC

				
	
					
						 

					
					
						MATRIX DESIGN GROUP, LLC

				
	
					
						 

					
					
						MC MINING, LLC

				
	
					
						 

					
					
						METTIKI COAL, LLC

				
	
					
						 

					
					
						METTIKI COAL (WV), LLC

				
	
					
						 

					
					
						MID-AMERICA CARBONATES, LLC

				
	
					
						 

					
					
						MT. VERNON TRANSFER TERMINAL, LLC

				
	
					
						 

					
					
						PENN RIDGE COAL, LLC

				
	
					
						 

					
					
						PONTIKI COAL, LLC

				
	
					
						 

					
					
						RIVER VIEW COAL, LLC

				
	
					
						 

					
					
						ROUGH CREEK MINING, LLC

				
	
					
						 

					
					
						SEBREE MINING, LLC

				
	
					
						 

					
					
						STEAMPORT, LLC

				
	
					
						 

					
					
						TUNNEL RIDGE, LLC

				
	
					
						 

					
					
						UC COAL, LLC

				

		 

		

			 

		

 

		

			 

		

	
					
						

					
						 

					
					
						UC MINING, LLC

				
	
					
						 

					
					
						UC PROCESSING, LLC

				
	
					
						 

					
					
						WARRIOR COAL, LLC

				
	
					
						 

					
					
						WEBSTER COUNTY COAL, LLC

				
	
					
						 

					
					
						WHITE COUNTY COAL, LLC

				
	
					
						 

					
					
						WHITE OAK RESOURCES LLC

				
	
					
						 

					
					
						WOR LAND 6, LLC

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						/s/ Cary P. Marshall

				
	
					
						 

					
					
						 

					
					
						Name:

					
					
						Cary P. Marshall

				
	
					
						 

					
					
						 

					
					
						Title:

					
					
						Vice President-Corporate Finance and Treasurer

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						MATRIX DESIGN INTERNATIONAL, LLC

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						/s/ Cary P. Marshall

				
	
					
						 

					
					
						 

					
					
						Name:

					
					
						Cary P. Marshall

				
	
					
						 

					
					
						 

					
					
						Title:

					
					
						Authorized AgentOffer Letter Agreement

 Exhibit 10.6 
  

 
 August 18, 2015 (As Revised) 

VIA Email 
 Dear Tom, 

I am very pleased to extend an offer to join Audentes Therapeutics. We believe your experience, talent, and passion will make you a wonderful addition to our
team. The following outlines the terms of our offer. 
  

					
	Position	 	•	  	Senior Vice President, Chief Financial Officer. This position is considered an exempt position for purposes of federal wage-hour law, which means that you will not be eligible for overtime pay.
			
	Responsibilities	 	•	  	In your role you will be responsible for the Finance function of the Company, as well as Investor Relations. You will serve as a member of the Senior Leadership Team. Working in partnership with the CEO, other senior management and
the Board of Directors, you will be responsible for the Company’s long-range financial planning and policies, accounting practices and procedures, as well as the Company’s relationship with the financial and shareholder communities. You
will manage all aspects of financial planning and reporting including the controller function, accounting, treasury, and tax to ensure compliance with financial reporting standards, shareholder requirements and regulatory requirements. You will be
responsible for the placement of in-house staff to fully operate both Finance and Investor Relations. You will play a key role in the Company’s transition from a private company to one that is publicly
traded. Once the Company is public, you will be responsible for the implementation and compliance with the SEC regulations that implement the Sarbanes-Oxley Act. Other responsibilities may be assigned from time to time as the needs of the Company
evolve. As a senior executive of the company, you will be expected to represent the company in a professional manner at all times.
			
	Reporting Relationship	 	•	  	You will report to Matthew Patterson, President and Chief Executive Officer of the Company.

  
 101 Montgomery
Street • Suite 2650 • San Francisco • CA • 94104 • USA 
 www.audentestx.com 

 

 
  

					
	Location	 	•	  	You will work from the corporate headquarters located at 101 Montgomery Street, Suite 2650, SF, CA 94104. As the Company evolves, the exact location may change.
			
	Compensation	 	•	  	You will receive a base salary of $350,000 paid semi-monthly (24 payments) less applicable payroll deductions and required withholdings.
			
		 	•	  	You also will be eligible for an annual bonus of up to 25% of your base salary, prorated to your start date for 2015 only, based on achievement of corporate performance (including financial) objectives and personal performance
objectives, payable at the sole discretion of the CEO and the Board of Directors. Annual corporate performance objectives will be those established by the Board of Directors and your annual personal performance objectives will be mutually agreed
upon in writing between you and the CEO. Your annual bonus will only be paid if you are an employee in good standing as of the date established for the payment of annual employee bonuses, and is also subject to applicable payroll deductions and
required withholdings.
			
		 	•	  	You will receive a one-time sign-on bonus of $60,000 that is also subject to applicable payroll deductions and required withholdings. This sign-on bonus will be paid coincidental with your second regular payroll payment after joining the Company. By accepting this sign-on bonus, you agree that should you
voluntarily resign from the Company within one (1) year of your start date, this bonus will be fully repayable to the Company immediately upon your resignation.
			
	Equity	 	•	  	Subject to the approval of the Board of Directors of the Company, you will be granted an option to purchase 1% (one percent) of the Company’s Fully Diluted Capitalization. For purposes of this agreement, “Fully Diluted
Capitalization” includes all outstanding shares of capital stock plus all shares subject to issuance under outstanding options or warrants plus all shares of capital stock reserved for future issuance under the Company’s equity incentive
plans that are not subject to outstanding options or other equity awards. Fully Diluted Capitalization for this calculation will be determined immediately following the closing of the pending Mezzanine Round (also referred to as Series C) of
financing, and will include any increase of the Company’s equity incentive plans as negotiated with the Series C investors. Should this financing not be completed by the date of the next regular meeting of the Company’s Board following
your start date, then it will be recommended to the Board that you be granted an option to purchase 1.25% of the Company’s Fully Diluted

  
 101 Montgomery
Street • Suite 2650 • San Francisco • CA • 94104 • USA 
 www.audentestx.com 

 

 
  

					
		 		  	Capitalization as of your start date with the Company. This option shall vest, subject to your continued employment with the Company, as to one fourth (1/4) of the shares on the one year anniversary of your start date, and as to an
additional one-sixteenth (1/16th) of the total number of shares subject to the option at the end of each calendar quarter thereafter. For clarity, the options granted will be fully vested after four years of
continuous employment with the Company. Details of the price of these options will be provided in your stock option grant as determined by the Board of Directors.
			
	Change of Control	 	•	  	In the event of a “change of control” of the Company, you will be provided accelerated vesting of stock options, and other severance benefits, in line with other Company executives at your level. Definitions of a
“change of control” will be documented in an employment agreement that we will endeavor to provide to you within 60 days of your hire date. See Exhibit C attached to this offer letter that reflects the severance provisions currently
being used with Company executives at your level.
			
	Severance Benefits	 	•	  	While your employment is as an at-will employee, within that meaning under state and federal laws, severance benefits will be provided under specific circumstances. Those severance benefits
will be entirely specified in your employment agreement and will be contained as part of the “change of control” provisions. See Exhibit C attached to this offer letter that reflects the severance provisions currently being used with
Company executives at your level.
			
	Performance Review	 	•	  	Your performance against goals will be verbally reviewed quarterly and annually on a written basis.

  
 101 Montgomery
Street • Suite 2650 • San Francisco • CA • 94104 • USA 
 www.audentestx.com 

 

 
  

					
	Benefits	 	•	  	You will be eligible to participate in the company’s group health and dental plan, as well as the company-sponsored 401k Plan. The details of these plans can be made available to you immediately if you desire and, in any event,
will be provided to you coincidental with your joining the Company.
			
		 	•	  	You will be eligible for 15 days of vacation per year.
			
		 	•	  	In addition to any company paid holidays and your vacation days, you will be encouraged to celebrate your birthday each year by not coming to work that day. This is in keeping with the Company’s desire to celebrate both your
private and professional lives.
			
	Reimbursed Expenses	 	•	  	You will be reimbursed for approved mobile phone, travel and entertainment expenses.

 Please note, your position, duties, goals, reporting relationship, work location and compensation may be modified based on
your performance and evolving needs of the Company. Additionally, the Company reserves the right to modify benefits, contribution and reimbursement levels from time to time, as it deems necessary. 

Audentes Therapeutics is an “at will” employer. That means the employee or the Company have the right to terminate employment, with or without
advance notice, and with or without cause. Employees may be demoted and/or disciplined and the terms of their employment may be altered at any time, with or without cause, at the discretion of the Company. No one other than the President and CEO of
the Company has the authority to alter this arrangement, to enter into an agreement for employment for a specified period of time, or to make any agreement contrary to this policy, and any such agreement must be in writing and signed by an officer
of the Company and by the affected employee. 
 Audentes Therapeutics is committed to the highest ethical standards. In your work for the Company, you will
be expected not to use or disclose any confidential information, including trade secrets, of any former employer or other person to whom you have an obligation of confidentiality. Rather, you will be expected to use only that information which is
generally known and used by persons with training and experience comparable to your own, which is common knowledge in the industry or otherwise legally in the public domain, or which is otherwise provided or developed by Audentes. In addition, you
agree that you will not bring onto Audentes’ premises any unpublished documents or property belonging to any former employer or other person to whom you have an obligation of confidentiality. 

  
 101 Montgomery
Street • Suite 2650 • San Francisco • CA • 94104 • USA 
 www.audentestx.com 

 

 
  
 This offer of employment is subject to establishing
your identity and authorization to work as required by the Immigration Reform and Control Act of 1986 (IRA,) completion of an Employment Verification Form (I-9) and the Employee
Non-Disclosure, Inventions, Non-Competition And Non-Solicitation Agreement (Exhibit A) form. Please bring the appropriate
documentation as outlined in the I-9 Form on your first day of work. Please note failure to provide appropriate documentation within 3 days of hire will result in immediate termination of employment in
accordance with the terms of the Immigration Reform and Control Act. 
 We hope you find this offer of employment agreeable and will indicate your
acceptance by signing, dating and returning a copy of this letter and the Exhibit A. Once received, we will mutually agree upon a reasonable start date, considering both the interests of the Company as well as your current employer. Please
consider that if we have not heard a response from you by August 28, 2015, we will assume you are no longer interested in joining Audentes and the offer will therefore no longer be valid. 

Audentes Therapeutics has set a bold mission for itself to change the quality of life of the patients we serve as we pursue high standards and meaningful
opportunities for both our employees and stockholders. We look forward to hearing that you will join us in this mission. 
  

			
	Sincerely,
	
	/s/ Matthew Patterson
	
	Matthew Patterson
	President and Chief Executive Officer
		
	Accepted By:	 	 /s/ Tom Soloway

			
		
	Date:	 	 August 25, 2015

  
 101 Montgomery
Street • Suite 2650 • San Francisco • CA • 94104 • USA 
 www.audentestx.com 

 

 
  
 Exhibit A 

EMPLOYEE INVENTION ASSIGNMENT AND 

CONFIDENTIALITY AGREEMENT 

In consideration of, and as a condition of my employment with Audentes Therapeutics, Inc., a Delaware corporation with its principal offices
in the State of California (the “Company”), I, as the “Employee” signing this Employee Invention Assignment and Confidentiality Agreement (this “Agreement”), hereby represent to
the Company, and the Company and I hereby agree as follows: 
 1. Purpose of
Agreement. I understand that the Company is engaged in a continuous program of research, development, production and/or marketing in connection with its current and projected business and that it is critical for the Company
to preserve and protect its proprietary information, its rights in certain inventions and works and in related intellectual property rights. Accordingly, I am entering into this Agreement, whether or not I am expected to create inventions or other
works of value for the Company. As used in this Agreement, “Inventions” means inventions, improvements, designs, original works of authorship, formulas, processes, compositions of matter, computer software programs,
databases, mask works, confidential information and trade secrets. 
 2. Disclosure of
Inventions. I will promptly disclose in confidence to the Company, or to any person designated by it, all Inventions that I make, create, conceive or first reduce to practice, either alone or jointly with others, during the
period of my employment, whether or not in the course of my employment, and whether or not patentable, copyrightable or protectable as trade secrets. 

3. Work for Hire; Assigned
Inventions. I acknowledge and agree that any copyrightable works prepared by me within the scope of my employment will be “works made for hire” under the Copyright Act and that the Company will be considered the
author and owner of such copyrightable works. I agree that all Inventions that I make, create, conceive or first reduce to practice during the period of my employment, whether or not in the course of my employment, and whether or not patentable,
copyrightable or protectable as trade secrets, and that (i) are developed using equipment, supplies, facilities or trade secrets of the Company; (ii) result from work performed by me for the Company; or (iii) relate to the
Company’s business or actual or demonstrably anticipated research or development (the “Assigned Inventions”), will be the sole and exclusive property of the Company. 

4. Excluded Inventions and Other
Inventions. Attached hereto as Attachment A is a list describing all existing Inventions, if any, that may relate to the Company’s business or actual or

  
 101 Montgomery
Street • Suite 2650 • San Francisco • CA • 94104 • USA 
 www.audentestx.com 

 

 
  
 demonstrably anticipated research or development and
that were made by me or acquired by me prior to the Effective Date (as defined in Section 25, below), and which are not to be assigned to the Company (“Excluded Inventions”). If no such list is attached, I
represent and agree that it is because I have no rights in any existing Inventions that may relate to the Company’s business or actual or demonstrably anticipated research or development. For purposes of this Agreement,
“Other Inventions” means Inventions in which I have or may have an interest, as of the Effective Date or thereafter, other than Assigned Inventions and Excluded Inventions. I acknowledge and agree that if, in
the scope of my employment, I use any Excluded Inventions or any Other Inventions, or if I include any Excluded Inventions or Other Inventions in any product or service of the Company or if my rights in any Excluded Inventions or Other Inventions
may block or interfere with, or may otherwise be required for, the exercise by the Company of any rights assigned to the Company under this Agreement, I will immediately so notify the Company in writing. Unless the Company and I agree otherwise in
writing as to particular Excluded Inventions or Other Inventions, I hereby grant to the Company, in such circumstances (whether or not I give the Company notice as required above), a perpetual, irrevocable, nonexclusive, transferable, world-wide,
royalty-free license to use, disclose, make, sell, offer for sale, import, copy, distribute, modify and create works based on, perform, and display such Excluded Inventions and Other Inventions, and to sublicense third parties in one or more tiers
of sublicensees with the same rights. 
 5. Exception to Assignment. I
understand that the Assigned Inventions will not include, and the provisions of this Agreement requiring assignment of inventions to the Company do not apply to, any invention that qualifies fully for exclusion under the provisions of
Section 2870 of the California Labor Code, which are attached hereto as Attachment B. 
 6.
Assignment of Rights. I agree to assign, and do hereby irrevocably transfer and assign, to the Company: (i) all of my rights, title and interests in and with respect to any Assigned
Inventions; (ii) all patents, patent applications, copyrights, mask works, rights in databases, trade secrets, and other intellectual property rights, worldwide, in any Assigned Inventions, along with any registrations of or applications to
register such rights; and (iii) to the extent assignable, any and all Moral Rights (as defined below) that I may have in or with respect to any Assigned Inventions. I also hereby forever waive and agree never to assert any Moral Rights I may
have in or with respect to any Assigned Inventions and any Excluded Inventions or Other Inventions licensed to the Company under Section 4, even after termination of my employment with the Company. “Moral
Rights” means any rights to claim authorship of a work, to object to or prevent the modification or destruction of a work, to withdraw from circulation or control the publication or distribution of a work, and any similar right,
regardless of whether or not such right is denominated or generally referred to as a “moral right.” 
 7.
Assistance. I will assist the Company in every proper way to obtain and enforce for the Company all patents, copyrights, mask work rights, trade secret rights and other legal 

  
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 protections for the Assigned Inventions, worldwide. I
will execute and deliver any documents that the Company may reasonably request from me in connection with providing such assistance. My obligations under this section will continue beyond the termination of my employment with the Company;
provided that the Company agrees to compensate me at a reasonable rate after such termination for time and expenses actually spent by me at the Company’s request in providing such assistance. I hereby appoint the Secretary of the Company
as my attorney-in-fact to execute documents on my behalf for this purpose. I agree that this appointment is coupled with an interest and will not be revocable. 

8. Proprietary Information. I understand that my employment by the Company creates a
relationship of confidence and trust with respect to any information or materials of a confidential or secret nature that may be made, created or discovered by me or that may be disclosed to me by the Company or a third party in relation to the
business of the Company or to the business of any parent, subsidiary, affiliate, customer or supplier of the Company, or any other party with whom the Company agrees to hold such information or materials in confidence (the
“Proprietary Information”). Without limitation as to the forms that Proprietary Information may take, I acknowledge that Proprietary Information may be contained in tangible material such as writings, drawings,
samples, electronic media, or computer programs, or may be in the nature of unwritten knowledge or know-how. Proprietary Information includes, but is not limited to, Assigned Inventions, marketing plans,
product plans, designs, data, prototypes, specimens, test protocols, laboratory notebooks, business strategies, financial information, forecasts, personnel information, contract information, customer and supplier lists, and the non-public names and addresses of the Company’s customers and suppliers, their buying and selling habits and special needs. 

9. Confidentiality. At all times, both during my employment and after its termination, I will keep and hold all
Proprietary Information in strict confidence and trust. I will not use or disclose any Proprietary Information without the prior written consent of the Company in each instance, except as may be necessary to perform my duties as an employee of the
Company for the benefit of the Company. Upon termination of my employment with the Company, I will promptly deliver to the Company all documents and materials of any nature pertaining to my work with the Company, and I will not take with me or
retain in any form any documents or materials or copies containing any Proprietary Information. 
 10. Physical
Property. All documents, supplies, equipment and other physical property furnished to me by the Company or produced by me or others in connection with my employment will be and remain the sole property of the Company. I will
return to the Company all such items when requested by the Company, excepting only my personal copies of records relating to my employment or compensation and any personal property I bring with me to the Company and designate as such. Even if the
Company does not so request, I will upon termination of my employment return to the Company all Company property, and I will not take with me or retain any such items. 

  
 101 Montgomery
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 11. No
Breach of Prior Agreements. I represent that my performance of all the terms of this Agreement and my duties as an employee of the Company will not breach any
invention assignment, proprietary information, confidentiality, non-competition, or other agreement with any former employer or other party. I represent that I will not bring with me to the Company or use in
the performance of my duties for the Company any documents or materials or intangibles of my own or of a former employer or third party that are not generally available for use by the public or have not been legally transferred to the Company. 

12. “At Will” Employment. I understand that this Agreement
does not constitute a contract of employment or obligate the Company to employ me for any stated period of time. I understand that I am an “at will” employee of the Company and that my employment can be terminated at any time, with or
without notice and with or without cause, for any reason or for no reason, by either the Company or by me. I acknowledge that any statements or representations to the contrary are ineffective, unless put into a writing signed by the Company. I
further acknowledge that my participation in any stock option or benefit program is not to be construed as any assurance of continuing employment for any particular period of time. 

13. Company Opportunities; Duty Not
to Compete. During the period of my employment, I will at all times devote my best efforts to the interests of the Company, and I will not, without the prior written consent of the Company, engage in, or
encourage or assist others to engage in, any other employment or activity that: (i) would divert from the Company any business opportunity in which the Company can reasonably be expected to have an interest; (ii) would directly compete
with, or involve preparation to compete with, the current or future business of the Company; or (iii) would otherwise conflict with the Company’s interests or could cause a disruption of its operations or prospects. 

14. Non-Solicitation of
Employees/Consultants. During my employment with the Company and for a one (1) year period thereafter, I will not directly or indirectly solicit away employees or consultants of the Company for my own benefit or for the
benefit of any other person or entity, nor will I encourage or assist others to do so. 
 15. Use
of Name & Likeness. I hereby authorize the Company to use, reuse, and to grant others the right to use and reuse, my name, photograph, likeness
(including caricature), voice, and biographical information, and any reproduction or simulation thereof, in any form of media or technology now known or hereafter developed, both during and after my employment, for any purposes related to the
Company’s business, such as marketing, advertising, credits, and presentations. 

  
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 16.
Notification. I hereby authorize the Company, during and after the termination of my employment with the Company, to notify third parties, including, but not limited to, actual or potential customers or employers, of the terms
of this Agreement and my responsibilities hereunder. 
 17. Injunctive Relief. I understand
that a breach or threatened breach of this Agreement by me may cause the Company to suffer irreparable harm and that the Company will therefore be entitled to injunctive relief to enforce this Agreement. 

18. Governing Law; Severability. This Agreement is intended to
supplement, and not to supersede, any rights the Company may have in law or equity with respect to the duties of its employees and the protection of its trade secrets. This Agreement will be governed by and construed in accordance with the laws of
the State of California without giving effect to any principles of conflict of laws that would lead to the application of the laws of another jurisdiction. If any provision of this Agreement is invalid, illegal or unenforceable in any respect, such
provision will be enforced to the maximum extent possible, given the fundamental intentions of the parties when entering into this Agreement. To the extent such provision cannot be so enforced, it will be stricken from this Agreement and the
remainder of this Agreement will be enforced as if such invalid, illegal or unenforceable provision had never been contained in this Agreement. 

19. Counterparts. This Agreement may be executed in any number of counterparts, each of which when so executed and
delivered will be deemed an original, and all of which together will constitute one and the same agreement. 
 20.
Entire Agreement. This Agreement and the documents referred to herein constitute the entire agreement and understanding of the parties with respect to the subject matter of this Agreement, and supersede all
prior understandings and agreements, whether oral or written, between the parties hereto with respect to such subject matter. 
 21.
Amendment and Waiver. This Agreement may be amended only by a written agreement executed by each of the parties to this Agreement. No amendment or waiver of, or modification of any
obligation under, this Agreement will be enforceable unless specifically set forth in a writing signed by the party against which enforcement is sought. A waiver by either party of any of the terms and conditions of this Agreement in any instance
will not be deemed or construed to be a waiver of such term or condition with respect to any other instance, whether prior, concurrent or subsequent. 

22. Successors and Assigns; Assignment. Except as
otherwise provided in this Agreement, this Agreement, and the rights and obligations of the parties hereunder, will bind and benefit the parties and their respective successors, assigns, heirs, executors, administrators, and legal representatives.
The Company may assign any of its rights and obligations under this 

  
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 Agreement. I understand that I will not be entitled
to assign or delegate this Agreement or any of my rights or obligations hereunder, whether voluntarily or by operation of law, except with the prior written consent of the Company. 

23. Further Assurances. The parties will execute such further documents and instruments and
take such further actions as may be reasonably necessary to carry out the purposes and intent of this Agreement. Upon termination of my employment with the Company, I will execute and deliver a document or documents in a form reasonably requested by
the Company confirming my agreement to comply with the post-employment obligations contained in this Agreement. 
 24.
Acknowledgement. I certify and acknowledge that I have carefully read all of the provisions of this Agreement and that I understand and will fully and faithfully comply with this Agreement. 

25. Effective Date of Agreement. This Agreement is
and will be effective on and after the first day of my employment by the Company, which is October 1, 2015 (the “Effective Date”). 
  

							
	AUDENTES THERAPEUTICS, INC.:	 		 	Employee:
				
	By:	 	 /s/ David Nagler
	 		 	 Thomas Soloway

				
	Name:	 	 David Nagler
	 		 	 /s/ Thomas Soloway

				
		 		 		 	Name (Please Print)
				
	Title:	 	 SVP HR & CORP AFFAIRS 
	 		 	

  
 101 Montgomery
Street • Suite 2650 • San Francisco • CA • 94104 • USA 
 www.audentestx.com 

 

 
  
 ATTACHMENT A 

LIST OF EXCLUDED INVENTIONS UNDER SECTION 4 
  

					
	 Title
	  	 Date
	  	 Identifying Number

or Brief Description

		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	

     X     No inventions, improvements, or original works of authorship 

            Additional sheets attached 

 

			
	Signature of Employee:	 	/s/ Thomas Soloway

			
		
	Print Name of Employee:	 	Thomas P. Soloway

			
		
	Date:	 	9/28/15

  
 101 Montgomery
Street • Suite 2650 • San Francisco • CA • 94104 • USA 
 www.audentestx.com 

 

 
  
 Exhibit B 

CALIFORNIA LABOR CODE 2870 NOTICE: 

California Labor Code Section 2870 provides as follows: 

Any provision in an employment agreement which provides that an employee shall assign, or offer to assign, any of his or her
rights in an invention to his or her employer shall not apply to an invention that the employee developed entirely on his or her own time without using the employer’s equipment, supplies, facilities, or trade secret information except for those
inventions that either: (1) relate at the time of conception or reduction to practice of the invention to the employer’s business, or actual or demonstrably anticipated research or development of the employer; or (2) result from any work
performed by the employee for the employer. To the extent a provision in an employment agreement purports to require an employee to assign an invention otherwise excluded from being required to be assigned under California Labor Code Section
2870(a), the provision is against the public policy of this state and is unenforceable. 

  
 101 Montgomery
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 www.audentestx.com 

 

 
  
 Exhibit C 

Change Of Control Language for Employment Agreement 

1. Definitions. 

1.1 Cause. For purposes of this Agreement, “Cause” means (i) Employee’s failure
to satisfactorily perform Employee’s duties after there has been delivered to Employee a written demand for performance which describes the specific deficiencies in Employee’s performance and the specific manner in which Employee’s
performance must be improved, and which provides thirty (30) business days from the date of notice to remedy such performance deficiencies; (ii) Employee’s conviction of or plea of nolo contendere to a felony or a crime involving moral
turpitude which the Board believes has had or will have a detrimental effect on the Company’s reputation or business, (iii) Employee engaging in an act of gross negligence or willful misconduct in the performance of his employment obligations
and duties, (iv) Employee’s committing an act of fraud against, material misconduct or willful misappropriation of property belonging to the Company; (v) Employee engaging in any other misconduct that has had or will have a material adverse
effect on the Company’s reputation or business; or (vi) Employee’s breach of the Employee Invention Assignment and Confidentiality Agreement or other unauthorized misuse of the Company’s trade secrets or proprietary information. 

1.2 Change in Control. For purposes of this Agreement
“Change in Control” means (i) a sale, conveyance, exchange or transfer (excluding any venture-backed or similar investments in the Company) in which any person or entity, other than persons or
entities who as of immediately prior to such sale, conveyance, exchange or transfer own securities in the Company, either directly or indirectly, becomes the beneficial owner, directly or indirectly, of securities of the Company representing more
than fifty (50%) percent of the total voting power of all its then outstanding voting securities; (ii) a merger or consolidation of the Company in which its voting securities immediately prior to the merger or consolidation do not represent, or are
not converted into securities that represent, a majority of the voting power of all voting securities of the surviving entity immediately after the merger or consolidation; or (iii) a sale of substantially all of the assets of the Company or a
liquidation or dissolution of the Company. 
 1.3 Disability shall have that meaning set forth in Section 22(e)(3)
of the Internal Revenue Code of 1986, as amended (the “Code”). 
 1.4 Good
Reason. For purposes of this Agreement, “Good Reason” means any of the following taken without the Employee’s written consent and provided (a) the Company receives, within thirty
(30) days following the occurrence of any of the events set forth in clauses (i) 

  
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 through (iv) below, written notice from the Employee
specifying the specific basis for Employee’s belief that Employee is entitled to terminate employment for Good Reason, (b) the Company fails to cure the event constituting Good Reason within thirty (30) days after receipt of such written notice
thereof, and (c) the Employee terminates employment within the earlier of ten days (10) days following expiration of such cure period or receipt from the Company that such deficiencies will not be cured: (i) a material change, adverse to Employee,
in Employee’s position, titles, offices or duties; (ii) an assignment of any significant duties to Employee that are inconsistent with Employee’s positions or offices held under this Agreement; (iii) a decrease in Employee’s Base
Salary by more than 10% (other than in connection with a general decrease in the base salary of all other executive officers); or (iv) the relocation of the Employee to a facility or a location more than fifty (50) miles from Employee’s then
current location. 
 2. Effect of Separation from
Service. For purposes of this Agreement, no payment will be made to Employee upon termination of Employee’s employment unless such termination constitutes a “separation from service” within the meaning of
Section 409A of the Code, and Section 1.409A-1(h) of the regulations promulgated thereunder. 

2.1 Separation for Cause, Death,
Disability or Voluntary Separation from Service. In the event of any separation from service of Employee’s
employment by the Company for Cause or in the event of the Employee’s death, Disability or voluntary separation from service at any time and for any reason, the Employee will be paid only (i) any earned but unpaid Base Salary, and (ii) other
unpaid vested amounts or benefits under the compensation, incentive and benefit plans of the Company in which Employee participates, and (iii) reimbursement for all reasonable and necessary expenses incurred by Employee in connection with his
performance of services on behalf of the Company in accordance with applicable Company policies and guidelines, in each case as of the effective date of such separation from service (the “Accrued Compensation”).
Employee will be allowed to exercise his vested stock options to purchase Company common stock, if any, during the time period set forth in, and in accordance with, the Plan and governing stock option agreement(s). 

2.2 Separation from Service without
Cause or for Good Reason Prior to a Change
in Control. In the event of the Employee’s separation from service from the Company without Cause or for Good Reason, and provided that Employee delivers to the Company a signed settlement agreement
and general release of claims in favor of the Company in a form reasonably specified by the Company (the “Release”), and satisfies all conditions to make the Release effective, within sixty (60) days following Employee’s
separation from service, then, in addition to the Accrued Compensation, Employee shall be entitled to the following: 
 (a) A lump
sum cash payment in an amount equal to Six (6) months of Employee’s Base Salary, payable on the Ninetieth (90th) day following the date of Employee’s separation from service; and 

  
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 (b) Provided Employee timely
elects to continue health coverage under COBRA, for Employee and/or Employee’s eligible dependents, the Company shall reimburse Employee for any monthly COBRA premium payments made by Employee to continue such coverage for the Twelve
(12) month period measured from the first month following the month in which Employee’s separation from service occurs. 

2.3 Separation from Service Following
a Change in Control. In the event of the Employee’s separation from service from the Company without Cause or for Good Reason, in each case during the
period of time commencing ninety (90) days prior to the execution of a definitive agreement providing for the consummation of a Change in Control and ending on the first anniversary of the consummation of such Change in Control, and provided
that Employee delivers to the Company the signed Release, and satisfies all conditions to make the Release effective, within sixty (60) days following Employee’s separation from service, then, in addition to the Accrued Compensation,
Employee shall be entitled to the benefits as set forth below: 
 (a) The payments set forth above in Sections 9.2(a) and (b);

 (b) Acceleration as to 100% of the unvested shares subject to the Option; 

(c) Acceleration as to 100% of the unvested shares issued to Employee pursuant to the Purchase Agreement; and 

(d) Acceleration as to 100% of the unvested portion of any other equity award granted to the Employee following the Effective Date.

 For the avoidance of doubt, the severance payments and benefits payable pursuant to Section 9.2 or Section 9.3 above are not
cumulative. 
 2.4 Parachute Payments. In the event that the severance and other benefits
provided for in this Agreement or otherwise payable to the Employee (i) constitute “parachute payments” within the meaning of Section 280G of the Code and (ii) but for this Section, would be subject to the excise tax imposed by
Section 4999 of the Code, then, Employee’s severance and other benefits under this Agreement shall be payable either (i) in full, or (ii) as to such lesser amount which would result in no portion of such severance and other
benefits being subject to the excise tax under Section 4999 of the Code, whichever of the foregoing amounts, taking into account the applicable federal, state and local income taxes and the excise tax imposed by Section 4999, results in
the receipt by Employee on an after-tax basis, of the greatest amount of severance benefits under this Agreement, notwithstanding that all or some portion of such severance benefits may be taxable under
Section 4999 of the Code. Any reduction shall be made in the following manner: first a pro rata reduction of (i) cash payments subject to Section 409A of the Code as deferred compensation 

  
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 and (ii) cash payments not subject to Section 409A of
the Code, and second a pro rata cancellation of (i) equity-based compensation subject to Section 409A of the Code as deferred compensation and (ii) equity-based compensation not subject to Section 409A of the Code. Reduction in either cash payments
or equity compensation benefits shall be made prorata between and among benefits which are subject to Section 409A of the Code and benefits which are exempt from Section 409A of the Code. Unless the Company and Employee otherwise agree in writing,
any determination required under this Section shall be made in writing by the Company’s independent public accountants (the “Accountants”), whose determination shall be conclusive and binding upon Employee and the
Company for all purposes. For purposes of making the calculations required by this Section, the Accountants may make reasonable assumptions and approximations concerning applicable taxes and may rely on reasonable, good faith interpretations
concerning the application of Sections 280G and 4999 of the Code. The Company and Employee shall furnish to the Accountants such information and documents as the Accountants may reasonably request in order to make a determination under this Section.
The Company shall bear all costs the Accountants may reasonably incur in connection with any calculations contemplated by this Section. 

  
 101 Montgomery
Street • Suite 2650 • San Francisco • CA • 94104 • USA 
 www.audentestx.com

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