Document:

bvtk_ex101.htm

EXHIBIT 10.1
  
 September 20, 2017
  
 PRIVATE AND CONFIDENTIAL
  
 HelpComm, Inc.
 8760 Virginia Meadows Drive
 Manassas, VA 20109
  
 Re:    Non-Binding Letter of Intent
  
 Dear Johnny: 
  
 This non-binding preliminary letter of intent is intended to summarize the principal terms of a proposed acquisition (the “Acquisition”) by Bravatek Solutions, Inc. or a nominee thereof (“Buyer”) of all of the issued and outstanding capital stock of Helpcomm, Inc. (“Target,” and together with Buyer and the Stockholders (as defined below), the “Parties”).
  
 1. Basic Terms. Subject to completion of due diligence with respect to Target, we anticipate that the basic terms of the Acquisition will be as set forth in the attached non-binding term sheet (the “Term Sheet”).
  
 2. Definitive Agreement. The terms of the Acquisition shall be set forth in a definitive purchase agreement which in addition to the terms described in the Term Sheet shall also contain such representations, warranties, covenants (including an appropriate non-compete provision), post-closing indemnities and other terms and conditions as are customary in transactions of this type and size or as are otherwise negotiated by the Parties, including receipt of required regulatory filings and approvals (the “Definitive Agreement”). Prior to signing the Definitive Agreement, Buyer shall have completed its due diligence review of Target to its satisfaction and the satisfaction of its counsel and accountants.
  
 3. Timing. Subject to the Parties’ right to abandon the proposed Acquisition pursuant to paragraph 8 and to Buyer’s conduct of due diligence with respect to Target, the Parties agree to use commercially reasonable efforts to work toward an expedient consummation of the Acquisition. Buyer will commence its due diligence investigation of Target and begin drafting the Definitive Agreement during the week of September 28, 2017. Each Party will use commercially reasonable efforts to execute the Definitive Agreement and close by October 31, 2017. 
  
 4. Access. Target and Stockholders shall provide Buyer, through Target’s employees, advisors and other representatives, access to the properties, personnel (including internal and external counsel), books, records and documents (including all records and correspondence concerning ongoing maintenance, warranty or service obligations and any actual or potential litigation) of Target for the purpose of Buyer’s investigation of Target and its properties, business and affairs to the extent reasonably related to Buyer’s interests in the proposed Acquisition. All such information provided by Target and Stockholders to Buyer, pursuant to this section and Buyer’s due diligence, shall be kept strictly confidential and shall not be shared or otherwise disclosed to any third-parties unless agreed to in writing by the parties, required by law, or requested by a regulatory body. The confidentiality provisions contained in this Section 4 shall be separate and distinct from the provisions contained in Paragraphs 5 and 7 below. 
   	 
	1
	 
 
	 

  
 5. Confidentiality. The Parties agree that this Letter of Intent will be kept strictly confidential and neither they, nor their affiliates shall disclose the existence of this Letter of Intent, any of the terms and conditions hereof or discussions concerning the subject matter hereof to parties outside of their respective organizations except in accordance with Paragraph 7 below.
  
 6. Exclusive Dealing. Until the later of (i) 60 days after the date this letter is signed by the Parties or (ii) the date the Acquisition is abandoned in accordance with paragraph 8 herein:
  
 (a) Neither Target nor any of its stockholders (the “Stockholders”) will directly or indirectly, through any representative, minority stockholder, employee, subsidiary or otherwise, solicit or entertain offers from, negotiate with or in any manner encourage, discuss, accept, or consider any proposal of any other person relating to the acquisition of its assets or business related to Target or any of its subsidiaries, in whole or in part, whether directly or indirectly, through purchase, merger, consolidation, or otherwise (other than sales of inventory in the ordinary course); and
  
 (b) Target will immediately notify Buyer regarding any direct or indirect contact between Target, the Stockholders, or any of its or their representatives and any other person regarding any such offer or proposal or any related inquiry.
  
 7. Public Announcements. The proposed Acquisition may be disclosed by Buyer and Target to their respective Boards of Directors, management personnel, legal, accounting and financial advisors, employees and other representatives on a “need-to-know” basis, but neither Party nor its representatives shall make any public disclosure of the proposed Acquisition without the prior written consent of the other Party; provided, that a Party may make such disclosure to others without the consent of the other Party if the disclosing Party reasonably believes, in the opinion of its legal counsel, that such disclosure is required by applicable law and the disclosing Party promptly notifies the other Party of such disclosure and the reason therefor. The Parties will use their reasonable efforts to cooperate with each other in making any disclosures pursuant to the proviso contained in the preceding sentence as to the proposed Acquisition and as to the form and substance of any press releases, announcements and other disclosures. 
  
 8. Abandonment; Expenses. Unless and until the Definitive Agreement shall have been executed and delivered by the Parties, the proposed Acquisition may be abandoned by either Target or Buyer, upon written notice to the other, provided no such abandonment shall effect the Parties’ obligations under paragraphs 5 through 8 which shall survive any such abandonment. Each Party shall bear its own expenses incurred in connection herewith (including the fees and expenses of its attorneys, accountants and advisors), and each Party shall indemnify the other from and against any brokers’ or finders’ fees or commissions or similar obligations incurred or alleged to have been incurred by the indemnifying Party in connection with the proposed Acquisition and, in the case of Target, a breach of its obligations hereunder.
  
 9. Binding Effect. Paragraphs 1 through 3 of this letter and the provisions of the Term Sheet do not create, and are not intended to create, any binding legal or contractual obligations on the part of Buyer or Target, but are intended merely to reflect the intention of the Parties to enter into discussions concerning the potential Acquisition on substantially the terms described in the Term Sheet. Upon your acceptance hereof, paragraphs 4 through 10 of this letter are intended to create binding legal and contractual obligations of the Parties with respect to the matters undertaken pursuant thereto. 
  
 10. Governing Law. This letter shall be governed by, and construed in accordance with the laws of the State of Colorado, without regard to its conflicts of laws provisions.
  
 * * * * * 
     
  	 
	2
	 
 
	 

  
 If you are in agreement with the foregoing, please sign and return to the undersigned one copy of this letter, which thereupon will constitute our agreement with respect to its subject matter. 
  
  	 	Buyer:	
	  
	  
	  

	  
	 BRAVATEK SOLUTIONS, INC.
	  

	 	 	 	 
		By:	/s/ Thomas A. Cellucci 	
	  
	 Name: 
	Thomas A. Cellucci 	 
	 	Title:	CEO	 

  
  	Acknowledged and agreed to:	
	  
	  

	 Target: 
	  

	  
	  

	 HELPCOMM, INC.
	  

	 	 	 
	By:	/s/ Johnny Bolton	
	 Name:
	Johnny Bolton 	 
	Title:	President	 
	  
	  
	  

	 Stockholders:
	  

	  
	  
	  

	  
	 /s/ Johnny Bolton
	  

	  
	 Johnny Bolton
	  

  
  	 
	3
	 
 
	 

  
 NON-BINDING TERM SHEET
  
 1. Parties to Definitive Agreement. Bravatek Solutions, Inc., a Colorado corporation, or a direct or indirect wholly-owned subsidiary thereof or any assignee (“Buyer”), Helpcomm, Inc., a Virginia corporation (“Target”), and Target’s stockholders (the “Stockholders”). 
  
 2. Stock Purchase. In the Acquisition the Stockholders would sell, and Buyer would acquire, all of the issued and outstanding capital stock of Target (the “Shares”). The Shares would be transferred to Buyer free and clear of all liens and encumbrances. 
  
 3. Consideration. The aggregate purchase price for the Shares (the “Purchase Price”) shall be 100,000 shares of Series D Preferred Stock of Buyer (the “Equity Consideration”) payable at closing. Such shares of preferred stock shall be non-voting prior to conversion into common stock, and shall be convertible into 600,000,000 shares of common stock at the holder’s election so long as unissued, unreserved, and authorized common stock is available for issuance and such conversion will not result in holder owning more than 4.99% of the issued and outstanding common stock at such time. 
  
 4. Employees. Buyer will make offers of employment to the following employees of Target with the following compensation terms:
  
  	 Employee
	 Base Salary
	 Quarterly Performance Bonuses

	 Johnny Bolton
	 $170,000.00
	 Per quarter, a performance bonus of 10% of quarterly Base Salary shall be paid if (i) sales targets mutually agreed by the parties are met, (ii) realized expenses are at budget or below, and (iii) the budgeted margin percentage is maintained during that quarter. For each incremental 5% increase over sales targets (maintaining expenses and margin), an additional 1% bonus shall be paid. 

	 Johnathan Bolton (son of Johnny Bolton)
	 $150,000.00
	 Per quarter, a performance bonus of 10% of quarterly Base Salary shall be paid if (i) sales targets mutually agreed by the parties are met, (ii) realized expenses are at budget or below, and (iii) the budgeted margin percentage is maintained during that quarter. For each incremental 5% increase over sales targets (maintaining expenses and margin), an additional 1% bonus shall be paid. 

  
  	 
	4
	 
 
	 

  
 5. Indemnification and Escrow. Target and its stockholders shall indemnify Buyer against any losses (a) arising from or related to the operation of Target prior to the closing and (b) arising from any breaches of representations, warranties, covenants and agreements contained in the Definitive Agreement (all of which will survive the closing). Target’s indemnification obligation period will be two years after the closing. 
  
 6. Closing Conditions. Buyer’s obligation to consummate the Acquisition will be subject to (i) satisfactory full-time employment terms with Target employees Buyer desires to employ, and (ii) other customary closing conditions.
  
 7. Corporate Approvals. The execution of the Definitive Agreement will be subject to Buyer’s obtaining necessary corporate approvals.
  
 8. Transition. Target and the Stockholders would agree to assist Buyer following the closing to ensure a successful transition of the business. 
  
    
  	5EX-4.1

 Exhibit 4.1 

FIRST SUPPLEMENTAL INDENTURE 

First Supplemental Indenture (this “Supplemental Indenture”), dated as of September 21, 2017 among LPL Holdings, Inc., a
Massachusetts corporation (the “Issuer”), certain subsidiaries of the Issuer, as guarantors (collectively, the “Guarantors” and, collectively with the Issuer, the “LPL Parties”) and U.S. Bank
National Association, a national banking association, as trustee (the “Trustee”). 
 W I T N E S S E T H 

WHEREAS, the Issuer, each of the Guarantors and the Trustee are party to that certain Indenture (as amended, modified or supplemented from
time to time, the “Indenture”), dated as of March 10, 2017, providing for the issuance of an unlimited aggregate principal amount of 5.750% senior notes due 2025 (the “Notes”); 

WHEREAS, on March 10, 2017, the Issuer issued $500,000,000 aggregate principal amount of Notes; 

WHEREAS, the LPL Parties desire to establish and provide for the issuance by the Issuer of an additional $400,000,000 aggregate principal
amount of Notes (the “New Notes”); 
 WHEREAS, the Issuer, in respect of the issuance of the New Notes, is in compliance
with Section 4.09 of the Indenture; 
 WHEREAS, Section 2.01(d) and Section 9.01(7) of the Indenture provide
for the issuance of Additional Notes and the execution and delivery of this Supplemental Indenture to evidence the creation of the New Notes without the consent of the Holders; 

WHEREAS, the New Notes shall constitute Additional Notes pursuant to the Indenture; 

WHEREAS, pursuant to Section 9.01(1) of the Indenture, the Issuer, the Guarantors and the Trustee may, without the consent of the
Holders, amend or supplement the Indenture to cure any ambiguity, omission, mistake, defect or inconsistency therein; 
 WHEREAS, the Issuer
and the Guarantors propose to amend the Indenture as contemplated by this Supplemental Indenture pursuant to Sections 9.01(1) and (7) of the Indenture; 

WHEREAS, each party hereto has duly authorized the execution and delivery of this Supplemental Indenture and has done all things necessary to
make this Supplemental Indenture a valid agreement in accordance with its terms; and 
 WHEREAS, pursuant to Sections 9.01 and 9.06 of the
Indenture, the Trustee is authorized to execute and deliver this Supplemental Indenture. 
 NOW THEREFORE, in consideration of the foregoing
and for other good and valuable consideration, the receipt of which is hereby acknowledged, the parties mutually covenant and agree for the equal and ratable benefit of the Holders, including the holders of New Notes, as follows: 

ARTICLE 1 
 Defined Terms 

Section 1.01. Capitalized Terms. Capitalized terms used herein without definition shall have the meanings assigned to them in the
Indenture. 

 ARTICLE 2 

Amendment of the Indenture 

Section 2.01. Effective Date. Following the execution and delivery by the Issuer, the Guarantors and the Trustee of this
Supplemental Indenture, the terms hereof shall become operative on the date of this Supplemental Indenture (the “Effective Date”). 

Section 2.02. Amendment. As of the Effective Date, Section 4.09(b)(17) is hereby amended to add the word “or” after
clause (b) and to add the new following clause (c). 
 “(c) any guarantee incurred by the Issuer or any Restricted Subsidiary in
respect of Investments made as guarantees of the obligations of financial advisors to any Person making loans, mortgages, advances and extensions of credit to such financial advisors, to the extent permitted under clause (34) of the definition
of “Permitted Investments”.” 
 Section 2.03. Reference to and Effect on the Indenture. On and after the
Effective Date, each reference in the Indenture to “this Indenture”, “hereunder”, “hereof”, “hereto” or “herein” (or any like reference) shall mean and be a reference to the Indenture as amended and
supplemented by this Supplemental Indenture, unless the context otherwise requires. 
 ARTICLE 3 

Issuance of New Notes 

Section 3.01. New Notes. In accordance with Section 2.01 of the Indenture, the New Notes are hereby created under the
Indenture and shall form a single class with the outstanding Notes under the Indenture. The New Notes shall constitute Additional Notes and be governed under the Indenture and executed and delivered in the manner contemplated therein, and each
Guarantor shall Guarantee such New Notes as set forth in Article 10 of the Indenture. 
 Section 3.02. Form of New Notes. The
New Notes shall initially be evidenced by one or more Global Notes (each, a “Global Note”), substantially in the form of Exhibit A hereto. 

ARTICLE 4 
 Miscellaneous 

Section 4.01. Governing Law. THIS SUPPLEMENTAL INDENTURE WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF NEW YORK. 
 Section 4.02. Counterparts. The parties may sign any number of copies of this Supplemental Indenture. Each
signed copy shall be an original, but all of them together represent the same agreement. This Supplemental Indenture may be executed in multiple counterparts which, when taken together, shall constitute one instrument. The exchange of copies of this
Supplemental Indenture and of signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of this Supplemental Indenture as to the parties hereto and may be used in lieu of the original Supplemental Indenture
for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes. 

Section 4.03. Effect of Headings. The Section headings herein are for convenience only and shall not affect the construction
hereof. 
 Section 4.04. The Trustee. The Trustee shall not be responsible in any manner whatsoever for or in respect of the
validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by the Issuer and the Guarantors. 

 Section 4.05. Successors. All agreements of the Issuer and each Guarantor in this
Supplemental Indenture shall bind its successors, except as otherwise provided in this Supplemental Indenture. All agreements of the Trustee in this Supplemental Indenture shall bind its successors. 

Section 4.07. Parties. Nothing expressed or mentioned herein is intended or shall be construed to give any Person, other than the
Holders and the Trustee, any legal or equitable right, remedy or claim under or in respect of this Supplemental Indenture of the Indenture or any provision herein or therein contained. 

Section 4.08. Ratification of Indenture; Supplemental Indenture; Part of Indenture. Except as expressly amended hereby, the
Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. This Supplemental Indenture shall form a part of the Indenture for all purposes, and every Holder of
Notes heretofore or hereafter authenticated and delivered shall be bound hereby. 
 [Signature pages follow] 

 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed, all as of the date first above written. 
  

			
	LPL HOLDINGS, INC.
		
	By:	 	/s/ Matthew J. Audette
	Name:	 	Matthew J. Audette
	Title:	 	Chief Financial Officer

 [Signature page to First Supplemental Indenture] 

 
			
	GUARANTORS:
	
	INDEPENDENT ADVISERS GROUP CORPORATION
		
	By:	 	/s/ Gregory M. Woods
	Name:	 	Gregory M. Woods
	Title:	 	Secretary

  

			
	LPL INDEPENDENT ADVISOR SERVICES GROUP LLC
		
	By:	 	/s/ Gregory M. Woods
	Name:	 	Gregory M. Woods
	Title:	 	Secretary

  

			
	LPL INSURANCE ASSOCIATES, INC.
		
	By:	 	/s/ Gregory M. Woods
	Name:	 	Gregory M. Woods
	Title:	 	Secretary

 [Signature page to First Supplemental Indenture] 

 
			
	 U.S. BANK NATIONAL ASSOCIATION,
 as
Trustee

		
	By:	 	/s/ Paula Oswald
	Name:	 	Paula Oswald
	Title:	 	Vice President

 [Signature page to First Supplemental Indenture] 

 EXHIBIT A 

[THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL
OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.06(h) OF THE INDENTURE, (II) THIS GLOBAL NOTE MAY BE EXCHANGED IN
WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, (III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.11 OF THE INDENTURE AND (IV) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR
DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A
NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”) TO THE COMPANY OR THEIR AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF
CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE
OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.] 

[THIS NOTE (OR ITS PREDECESSOR) HAS NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY,
THIS NOTE MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS, EXCEPT AS SET FORTH IN THE NEXT SENTENCE. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST
HEREIN, THE HOLDER: (1) REPRESENTS THAT IT IS NOT AN “AFFILIATE” (AS DEFINED IN RULE 144 UNDER THE SECURITIES ACT) OF LPL HOLDINGS, INC. AND (A) IT IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE
SECURITIES ACT) (A “QIB”), OR (B) IT IS NOT A U.S. PERSON AND HAS ACQUIRED THIS NOTE IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH REGULATION S UNDER THE SECURITIES ACT; (2) AGREES THAT IT WILL NOT RESELL OR OTHERWISE TRANSFER
THIS NOTE OR ANY BENEFICIAL INTEREST HEREIN EXCEPT (A) TO LPL HOLDINGS, INC. OR ANY OF ITS SUBSIDIARIES, (B) TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A QIB PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QIB IN A
TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (C) TO NON-U.S. PERSONS IN AN OFFSHORE TRANSACTION MEETING THE REQUIREMENTS OF RULE 903 OR 904 OF 

  
 A-1 

 
REGULATION S OF THE SECURITIES ACT, (D) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144 UNDER THE SECURITIES ACT, (E) IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL REASONABLY ACCEPTABLE TO LPL HOLDINGS, INC. AND THE TRUSTEE) OR (F) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT AND, IN EACH CASE, IN ACCORDANCE WITH THE APPLICABLE
SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION; (3) AGREES THAT IT WILL DELIVER TO EACH PERSON TO WHOM THIS NOTE OR AN INTEREST HEREIN IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND;
AND (4) AGREES THAT ANY SECURITY THAT IS OWNED BY AN AFFILIATE (AS DEFINED IN RULE 144 UNDER THE SECURITIES ACT) OF LPL HOLDINGS, INC. MAY NOT BE RESOLD OR TRANSFERRED BY SUCH AFFILIATE OTHER THAN LPL HOLDINGS, INC. OR A SUBSIDIARY THEREOF OR
PURSUANT TO (A) A REGISTRATION STATEMENT UNDER THE SECURITIES ACT, (B) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144 UNDER THE SECURITIES ACT OR (C) ANOTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT
(IF AVAILABLE) IN A TRANSACTION THAT RESULTS IN SUCH SECURITY NO LONGER BEING A RESTRICTED SECURITY (AS DEFINED UNDER RULE 144). IN THE EVENT ANY SUCH PERSONS BENEFICIALLY OWN AN INTEREST IN THE SECURITY PRIOR TO THE TIME LPL HOLDINGS, INC. REMOVES
THE RESTRICTIVE LEGEND ON THE SECURITY, LPL HOLDINGS, INC. MAY REQUIRE THAT SUCH PERSONS HOLD THEIR INTERESTS IN THE SECURITY IN CERTIFICATED FORM BEARING AN APPROPRIATE RESTRICTIVE LEGEND AND A RESTRICTED CUSIP NUMBER. AS USED HEREIN, THE TERMS
“OFFSHORE TRANSACTIONS” AND “UNITED STATES” HAVE THE MEANINGS GIVEN TO THEM BY RULE 902 OF REGULATION S UNDER THE SECURITIES ACT. THE INDENTURE CONTAINS A PROVISION REQUIRING THE TRUSTEE TO REFUSE TO REGISTER ANY TRANSFER OF THIS
NOTE IN VIOLATION OF THE FOREGOING.] 
 [THE RIGHTS ATTACHING TO THIS REGULATION S TEMPORARY GLOBAL NOTE, AND THE CONDITIONS AND PROCEDURES GOVERNING ITS
EXCHANGE FOR CERTIFICATED NOTES, ARE AS SPECIFIED IN THE INDENTURE (AS DEFINED HEREIN).] 
 [BY ACQUIRING THIS NOTE OR ANY INTEREST THEREIN, EACH HOLDER AND
EACH TRANSFEREE IS DEEMED TO REPRESENT, WARRANT AND AGREE THAT AT THE TIME OF ITS ACQUISITION AND THROUGHOUT THE PERIOD THAT IT HOLDS THIS NOTE OR ANY INTEREST THEREIN (1) THAT EITHER (A) NO PORTION OF THE ASSETS USED BY SUCH HOLDER OR
TRANSFEREE TO ACQUIRE OR HOLD THE NOTES CONSTITUTES ASSETS OF AN EMPLOYEE BENEFIT PLAN THAT IS SUBJECT TO TITLE I OF THE U.S. EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OF A PLAN, INDIVIDUAL RETIREMENT ACCOUNT
OR OTHER ARRANGEMENT THAT IS SUBJECT TO SECTION 4975 OF THE U.S. INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR PROVISIONS UNDER ANY OTHER FEDERAL, STATE, LOCAL, NON-U.S. OR OTHER LAWS OR REGULATIONS THAT ARE SIMILAR TO TITLE I
OF ERISA OR SECTION 4975 OF THE 

  
 A-2 

 
CODE (“SIMILAR LAWS”), OR OF AN ENTITY WHOSE UNDERLYING ASSETS ARE CONSIDERED TO INCLUDE “PLAN ASSETS” OF ANY SUCH PLAN, ACCOUNT OR ARRANGEMENT, OR (B) (I) THE
ACQUISITION AND HOLDING OF THE NOTES BY SUCH HOLDER OR TRANSFEREE WILL NOT CONSTITUTE A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE OR A SIMILAR VIOLATION UNDER ANY APPLICABLE SIMILAR LAWS; (II) NONE OF
THE ISSUER, THE INITIAL PURCHASERS OR ANY OF THEIR AFFILIATES IS A FIDUCIARY (WITHIN THE MEANING OF SECTION 3(21) OF ERISA OR SECTION 4975 OF THE CODE OR, WITH RESPECT TO A GOVERNMENTAL, CHURCH OR NON-U.S. PLAN, ANY DEFINITION OF
“FIDUCIARY” UNDER SIMILAR LAWS) WITH RESPECT TO THE HOLDER OR TRANSFEREE IN CONNECTION WITH ANY PURCHASE OR HOLDING OF THE NOTES, OR AS A RESULT OF ANY EXERCISE BY THE ISSUER OR ANY OF ITS AFFILIATES OF ANY RIGHTS IN CONNECTION WITH THE
NOTES, AND NO ADVICE PROVIDED BY THE ISSUER, ANY INITIAL PURCHASER OR ANY OF THEIR RESPECTIVE AFFILIATES HAS FORMED A PRIMARY BASIS FOR ANY INVESTMENT DECISION BY OR ON BEHALF OF THE HOLDER OR TRANSFEREE IN CONNECTION WITH THE NOTES AND THE
TRANSACTIONS CONTEMPLATED WITH RESPECT TO THE NOTES; AND (III) IF IT IS OR IS ACTING ON BEHALF OF A BENEFIT PLAN INVESTOR, THE DECISION TO PURCHASE THE NOTES HAS BEEN MADE BY A DULY AUTHORIZED FIDUCIARY (EACH, A “PLAN FIDUCIARY”) WHO IS
INDEPENDENT OF THE ISSUER, THE INITIAL PURCHASERS AND THEIR AFFILIATES, WHICH PLAN FIDUCIARY (A) IS A FIDUCIARY UNDER ERISA OR THE CODE, OR BOTH, WITH RESPECT TO THE DECISION TO PURCHASE THE NOTES, (B) IS NOT THE INDIVIDUAL RETIREMENT
ACCOUNT (“IRA”) OWNER (IN THE CASE OF A HOLDER OR TRANSFEREE WHICH IS AN IRA), (C) IS CAPABLE OF EVALUATING INVESTMENT RISKS INDEPENDENTLY, BOTH IN GENERAL AND WITH REGARD TO THE PROSPECTIVE INVESTMENT IN THE NOTES, (D) HAS
EXERCISED INDEPENDENT JUDGMENT IN EVALUATING WHETHER TO INVEST THE ASSETS OF SUCH BENEFIT PLAN INVESTOR IN THE NOTES, AND (E) IS EITHER A BANK, AN INSURANCE CARRIER, A REGISTERED INVESTMENT ADVISER, A REGISTERED BROKER-DEALER OR AN INDEPENDENT
FIDUCIARY WITH AT LEAST $50 MILLION OF ASSETS UNDER MANAGEMENT OR CONTROL; PROVIDED, HOWEVER, THAT HOLDERS AND TRANSFEREES WILL NOT BE DEEMED TO MAKE THE REPRESENTATIONS IN THIS CLAUSE (III) TO THE EXTENT THAT, AND FOLLOWING THE DATE ON WHICH, THE
REGULATIONS UNDER SECTION 3(21) OF ERISA ISSUED BY THE U.S. DEPARTMENT OF LABOR ON APRIL 8, 2016 ARE RESCINDED.] 

  
 A-3 

 CUSIP [            ] 

ISIN [            ]1 

[RULE 144A] [REGULATION S] GLOBAL NOTE 

5.750% Senior Notes due 2025 
  

			
	No.    	  	[$                 ]

 LPL Holdings, Inc. 

promises to pay to CEDE & CO. or registered assigns, the principal sum [set forth on the Schedule of Exchanges of Interests in the
Global Note attached hereto] [of              United States Dollars] on September 15, 2025. 

Interest Payment Dates: March 15 and September 15 

Record Dates: March 1 and September 1 

 

	1 	Rule 144A Note CUSIP: 50212Y AB0 

	 	Rule 144A Note ISIN: US50212YAB02 

	 	Regulation S Note CUSIP: U5462T AC7 

	 	Regulation S Note ISIN: USU5462TAC72 

  
 A-4 

 IN WITNESS HEREOF, the Company has caused this instrument to be duly executed. 

 

			
	LPL HOLDINGS, INC.
		
	By:	 	 
		 	Name:
		 	Title:

  
 A-5 

 This is one of the Notes referred to in the within-mentioned Indenture: 

 

							
		 		 	U.S. BANK NATIONAL ASSOCIATION,
		 		 	as Trustee
	Dated:	 		 	
				
		 		 	By:	 	 
		 		 		 	Authorized Signatory
		 		 		 	

  
 A-6 

 [Back of Note] 

5.750% Senior Notes due 2025 

Capitalized terms used herein shall have the meanings assigned to them in the Indenture referred to below unless otherwise indicated. 

1. INTEREST. The Company promises to pay interest on the principal amount of this Note at 5.750% per annum from September 15, 2017
until maturity. The Company will pay interest semi-annually in arrears on March 15 and September 15 of each year, or if any such day is not a Business Day, on the next succeeding Business Day (each, an “Interest Payment
Date”). Interest on the Notes will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that the first Interest Payment Date shall be March 15,
2018. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at the interest rate on the Notes; it shall pay interest
(including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest, if any (without regard to any applicable grace periods) from time to time on demand at the interest rate on the Notes. Interest will
be computed on the basis of a 360-day year comprised of twelve 30-day months. 
 2. METHOD OF PAYMENT. The Company will pay interest on the
Notes, if any, to the Persons who are registered Holders at the close of business on the March 1 or September 1 (whether or not a Business Day), as the case may be, next preceding the Interest Payment Date, even if such Notes are cancelled
after such record date and on or before such Interest Payment Date, except as provided in Section 2.12 of the Indenture with respect to defaulted interest. Payment of interest, if any, may be made by check mailed to the Holders at their
addresses set forth in the register of Holders; provided that payment by wire transfer of immediately available funds to the accounts specified by the Holder or Holders thereof will be required with respect to principal of and interest,
premium, if any, on all Global Notes and all other Notes the Holders of which shall have provided wire transfer instructions to the Company or the Paying Agent. Until otherwise designated by the Company, the Company’s office or agency will be
the office of the Trustee maintained for such purpose. Such payment shall be in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. 

3. PAYING AGENT AND REGISTRAR. Initially, U.S. Bank National Association, the Trustee under the Indenture, will act as Paying Agent and
Registrar. The Company may change any Paying Agent or Registrar without prior written notice to the Holders. The Company or any of the Company’s Subsidiaries may act in as paying agent or registrar. 

4. INDENTURE. The Company issued the Notes under an Indenture, dated as of March 10, 2017 (as supplemented by the First Supplemental
Indenture, dated as of September 21, 2017, the “Indenture”), among LPL Holdings, Inc., the Guarantors named therein and the Trustee. This Note is one of a duly authorized issue of notes of the Company designated as its 5.750%
senior notes due 2025. The Company may issue Additional Notes pursuant to 

  
 A-7 

 
Section 2.01 and 4.09 of the Indenture. The Notes are subject to all such terms, and Holders are referred to the Indenture for a statement of such terms. To the extent any provision of this
Note conflicts with the express provisions of the Indenture, the provisions of the Indenture shall govern and be controlling. 
 5.
REDEMPTION AND REPURCHASE. The Notes are subject to optional and mandatory redemption, and may be the subject of an Offer to Purchase, as further described in the Indenture. Except as provided in the Indenture, the Company shall not be required to
make any mandatory redemption or sinking fund payments with respect to the Notes. The Company and its Affiliates may at any time and from time to time purchase Notes in the open market or otherwise. 

6. DENOMINATIONS, TRANSFER, EXCHANGE. The Notes are in registered form without coupons in minimum denominations of $2,000 and integral
multiples of $1,000 in excess thereof. The transfer of Notes may be registered and Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements and
transfer documents and the Company may require a Holder to pay any taxes and fees required by law or permitted by the Indenture. The Company need not exchange or register the transfer of any Note or portion of a Note selected for redemption or
tendered (and not withdrawn) for repurchase in connection with a Change of Control Offer, an Asset Sale Offer or other tender offer, in whole or in part, except for the unredeemed portion of any Note being redeemed in part. Also, the Company need
not exchange or register the transfer of any Notes for a period of 15 days before the mailing or electronic delivery of a notice of redemption of Notes to be redeemed. The registered Holder of a Note will be treated as the owner of the Note for all
purposes. Only registered Holders will have rights under the Indenture. 
 7. PERSONS DEEMED OWNERS. The registered Holder of a Note may be
treated as its owner for all purposes. 
 8. AMENDMENT, SUPPLEMENT AND WAIVER. The Indenture, the Guarantees or the Notes may be amended or
supplemented as provided in the Indenture. 
 9. DEFAULTS AND REMEDIES. The Events of Default relating to the Notes are defined in
Section 6.01 of the Indenture. Upon the occurrence of an Event of Default, the rights and obligations of the Company, the Guarantors, the Trustee and the Holders shall be as set forth in the applicable provisions of the Indenture. 

10. AUTHENTICATION. This Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose until
authenticated by the manual signature of the Trustee. 
 11. GOVERNING LAW. THE INDENTURE, THE NOTES AND ANY GUARANTEE WILL BE GOVERNED BY
AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 

  
 A-8 

 12. CUSIP NUMBERS. Pursuant to a recommendation promulgated by the Committee on Uniform Security
Identification Procedures, the Company has caused CUSIP numbers to be printed on the Notes, and the Trustee may use CUSIP numbers in notices as a convenience to Holders. No representation is made as to the accuracy of such numbers either as printed
on the Notes or as contained in any notice, and reliance may be placed only on the other identification numbers placed thereon. 
 The
Company will furnish to any Holder upon written request and without charge a copy of the Indenture. Requests may be made to the Company at the following address: 

LPL Holdings, Inc. 
 75 State
Street 
 Boston, MA 02109 

Attention: Secretary 

  
 A-9 

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 
  

			
		
	(I) or (we) assign and transfer this Note to:	 	 
		
		 	(Insert assignee’s legal name)
	
	 
	
	(Insert assignee’s soc. sec. or tax I.D. no.)
	
	 
	
	 
	
	 
	
	 
	
	(Print or type assignee’s name, address and zip code)

			
		
	and irrevocably appoint	 	 

			
	
	to transfer this Note on the books of the Company. The agent may substitute another to act for him.

Date:                     

 

			
		
	Your Signature:	 	 
		 	(Sign exactly as your name appears on the face of this Note)

 Signature
Guarantee:*                                       
              
  

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  
 A-10 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Note purchased by the Company pursuant to Section 4.10 or 4.14 of the Indenture, check the appropriate
box below: 
  

			
	[    ] Section 4.10    	  	[    ] Section 4.14

 If you want to elect to have only part of this Note purchased by the Company pursuant to Section 4.10 or
Section 4.14 of the Indenture, state the amount you elect to have purchased: 
  

			
	Date:                 	  	$                                

  

			
		
	Your Signature:	 	 
		 	(Sign exactly as your name appears on the face of this Note)

  

			
	Signature Guarantee:*	 	 

  

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  
 A-11 

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE* 

The initial outstanding principal amount of this Global Note is
$            . The following exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a part of another Global or
Definitive Note for an interest in this Global Note, have been made: 
  

									
	 Date of

Exchange
	  	Amount of
decrease in
Principal
Amount	  	Amount of
increase in
Principal
Amount of this
Global Note	  	Principal
Amount of this
Global Note
following such
decrease or
increase	  	Signature of
authorized
signatory of
Trustee or Note
Custodian

 
  

	*	This schedule should be included only if the Note is issued in global form. 

  
 A-12

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