Document:

EX-10.1

 Exhibit 10.1 

AGREEMENT 
 This Agreement
(this “Agreement”) is made and entered into as of March 22, 2020 by and among Box, Inc. (the “Company”) and the entities and natural persons set forth in the signature pages hereto (collectively,
“Starboard”) (each of the Company and Starboard, a “Party” to this Agreement, and collectively, the “Parties”). 

RECITALS 
 WHEREAS, the
Company and Starboard have engaged in various discussions and communications concerning the Company’s business, financial performance and strategic plans; 

WHEREAS, as of the date hereof, Starboard has a beneficial ownership (as determined under Rule 13d-3
promulgated under the Securities Exchange Act of 1934, as amended, or the rules or regulations promulgated thereunder (the “Exchange Act”)) interest in the Class A Common Stock, $0.0001 par value per share, of the Company (the
Common Stock”) totaling, in the aggregate, 11,774,546 shares, or approximately 7.7% of the Common Stock issued and outstanding on the date hereof; and 

WHEREAS, as of the date hereof, the Company and Starboard have determined to come to an agreement with respect to the composition of the Board
of Directors of the Company (the “Board”) and certain other matters, as provided in this Agreement. 
 NOW, THEREFORE, in
consideration of the foregoing premises and the mutual covenants and agreements contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereto, intending to be
legally bound hereby, agree as follows: 
  

	1.	 Board Appointments and Related Agreements. 

 

	 	(a)	 Board Appointments 

(i)    The Company agrees that immediately following the execution of this Agreement, the Board and all applicable
committees of the Board shall take all necessary actions to (A) increase the size of the Board from nine (9) to twelve (12) directors (provided that the size of the Board shall automatically decrease to nine (9) directors at the
conclusion of the Company’s 2020 Annual Meeting of Stockholders (the “2020 Annual Meeting”)) and, in connection therewith, expand the number of directors comprising each of the Class II and Class III directors of the
Board by one (1) and two (2), respectively, (B) appoint Jack Lazar to the Board as a Class III director with a term expiring at the 2020 Annual Meeting, who will fill an existing vacancy among the Class III directors created by
the expanded classes (the “First Independent Designee”), (C) appoint one (1) independent director to the Board prior to the 2020 Annual Meeting as a Class II director with a term expiring at the Company’s 2022 Annual
Meeting of Stockholders (the “Second Independent Designee”, together with the First Independent Designee, the “Independent Designees”), with such Second Independent Designee to either be selected from the Candidate
List (as defined below) or mutually agreed upon between the Company and Starboard in accordance with the procedures set forth in Section 1(a)(iii) of this Agreement, and who will fill the existing vacancy among the Class II directors

 
created by the expanded classes, (D) identify and appoint one (1) additional independent director (the “Additional Independent Director”) to the Board prior to the 2020
Annual Meeting as a Class III director with a term expiring at the 2020 Annual Meeting, who will fill an existing vacancy among the Class III directors created by the expanded classes, (E) cause Dylan Smith and Rory O’Driscoll
not to stand for re-election at the 2020 Annual Meeting such that the Board shall nominate the following individuals, and only the following individuals, as Class III directors for election to the Board
at the 2020 Annual Meeting for terms expiring at the Company’s 2023 Annual Meeting of Stockholders (the “2023 Annual Meeting”): the First Independent Designee, Sue Barsamian and the Additional Independent Director, and
(F) accept the resignation tendered by Josh Stein as a director of the Company, who the Company hereby represents has submitted, or shall no later than the date hereof submit, an irrevocable letter of resignation to the Board that will become
effective no later than upon the conclusion of the 2020 Annual Meeting. 
 (ii)    The Company agrees that it will
nominate the First Independent Designee for election at the 2020 Annual Meeting as a Class III director with a term expiring at the 2023 Annual Meeting and will recommend, support and solicit proxies for the election of the First Independent
Designee, in the same manner as for the Company’s other Class III director nominees. The Company shall use its reasonable best efforts to hold the 2020 Annual Meeting no later than July 19, 2020. 

(iii)    The Company agrees that, no later than forty-five (45) days following the date of this Agreement, the Board
and all applicable committees of the Board shall take all necessary actions to approve (such approval not to be unreasonably withheld) the Second Independent Designee for appointment to the Board, who shall be recommended by Starboard from the list
of independent director candidates agreed to between the Company and Starboard as of the date hereof (the “Candidate List”). If for any reason the Company and Starboard are unable to mutually agree on the identity of the Second
Independent Designee from the Candidate List, each of Starboard and the Company shall be permitted to submit additional candidates until the Company and Starboard mutually agree on the identity of the Second Independent Designee, provided,
however, that if the Second Independent Designee is not identified and approved by the Board within forty-five (45) days following the date of this Agreement, the Board shall immediately, but no later than five (5) business days
thereafter, select and approve one (1) of the director candidates from the Candidate List as the Second Independent Designee. Promptly following the Board’s approval of the Second Independent Designee in accordance with the terms of this
Agreement, but no later than five (5) business days thereafter, the Board and all applicable committees of the Board shall take all necessary actions to appoint the Second Independent Designee to the Board as a Class II director. 

(iv)    If any Independent Designee (or any Replacement Director (as defined below)) is unable or unwilling to serve as a
director and ceases to be a director, resigns as a director, is removed as a director, or for any other reason fails to serve or is not serving as a director at any time prior to the expiration of the Standstill Period (as defined below), and at
such time Starboard beneficially owns (as determined under Rule 13d-3 promulgated under the Exchange Act) in the aggregate at least the lesser of 3% of the Company’s then-outstanding Common Stock and
4,560,420 shares of Common Stock (subject to adjustment for stock splits, reclassifications, combinations and similar adjustments) (the “Minimum Ownership Threshold”), 

  
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Starboard shall have the ability to recommend a person to be a Replacement Director in accordance with this Section 1(a)(iv) (any such replacement nominee, when
appointed to the Board, shall be referred to as a “Replacement Director”). Any Replacement Director must (A) be reasonably acceptable to the Board (such acceptance not to be unreasonably withheld), (B) qualify as
“independent” pursuant to New York Stock Exchange (“NYSE”) listing standards, (C) have the relevant financial and business experience to be a director of the Company, and (D) not be an affiliate, employee or
director of Starboard. The Nominating and Corporate Governance Committee shall make its determination and recommendation regarding whether such Replacement Director meets the foregoing criteria within ten (10) business days after (1) such
nominee has submitted to the Company the documentation required by Section 1(c)(iv), including such nominee’s consent to the Company’s customary background check and (2) representatives of the Board have
conducted customary interview(s) of such nominee, if such interviews are requested by the Board or the Nominating and Corporate Governance Committee. The Company shall use its reasonable best efforts to conduct the background check and any
interview(s) contemplated by this Section 1(a)(iv) as promptly as practicable, but in any case with respect to the interview(s), assuming reasonable availability of the nominee, within ten (10) business days after
Starboard’s submission of such nominee. In the event that the Nominating and Corporate Governance Committee does not accept a person recommended by Starboard as the Replacement Director, Starboard shall have the right to recommend additional
substitute person(s) whose appointment shall be subject to the Nominating and Corporate Governance Committee recommending such person in accordance with the procedures described above. Upon the recommendation of a Replacement Director nominee by the
Nominating and Corporate Governance Committee, the Board shall vote on the appointment of such Replacement Director to the Board no later than five (5) business days after the Nominating and Corporate Governance Committee recommendation of such
Replacement Director; provided, however, that if the Board does not appoint such Replacement Director to the Board pursuant to this Section 1(a)(iv), the Parties shall continue to follow the procedures of this
Section 1(a)(iv) until a Replacement Director is elected to the Board. Subject to NYSE rules and applicable law, upon a Replacement Director’s appointment to the Board, the Board and all applicable committees of the
Board shall take all necessary actions to appoint such Replacement Director to any applicable committee of the Board of which the replaced director was a member immediately prior to such director’s resignation or removal. Subject to NYSE rules
and applicable law, until such time as any Replacement Director is appointed to any applicable committee of the Board, the other Independent Designee will be provided the opportunity to serve as an interim member of such applicable committee. Any
Replacement Director designated pursuant to this Section 1(a)(iv) replacing an Independent Designee that is a Class III director prior to the mailing of the Company’s definitive proxy statement for the 2020 Annual
Meeting shall stand for election at the 2020 Annual Meeting together with the other Class III director nominees. 

(v)    During the period commencing with the date of this Agreement through the 2020 Annual Meeting, the Board and all
applicable committees of the Board shall not (A) increase the size of the Board to more than twelve (12) directors or (B) seek to change the classes on which the Board members serve, in each case without the prior written consent of
Starboard. Effective upon conclusion of the 2020 Annual Meeting through the expiration of the Standstill Period, the Board and all applicable committees of the Board shall not (A) increase the size of the Board to more than nine
(9) directors or (B) seek to change the classes on which the Board members serve, in each case without the prior written consent of Starboard. 

  
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 (vi)    During the Standstill Period, the Company will have in effect a
provision in its Corporate Governance Guidelines providing that any “employee director must submit his or her offer of resignation from the Board in writing upon termination of employment with the Company” and the Company hereby agrees to
accept, and to cause the Board to accept, any such resignation tendered during the Standstill Period unless a majority of the independent directors on the Board determine otherwise. 

 

	 	(b)	 Board Committees. 

 

	 	(i)	 Operating Committee 

Immediately following the execution of this Agreement, the Board and all applicable committees of the Board shall take all necessary actions
to (A) form an Operating Committee of the Board (the “Operating Committee”) to work with the Company’s Chief Executive Officer and management to identify and recommend opportunities for further improvement in growth and
margin performance, (B) appoint, immediately upon their respective appointment to the Board, the Independent Designees to the Operating Committee, plus Sue Barsamian, and Kim Hammonds, with Ms. Barsamian serving as its Chairperson. During
the Standstill Period, the Operating Committee shall be comprised of four (4) directors (unless otherwise agreed by the Operating Committee), comprised of (A) unless otherwise agreed by the Operating Committee, the Independent Designees
(or Replacement Directors), (B) two other directors, who, unless otherwise determined by the Board, shall be Ms. Barsamian, and Ms. Hammonds, and (C) Ms. Barsamian serving as its Chairperson; provided that the Board shall be
entitled to select an alternative Chairperson in the event Ms. Barsamian is no longer serving on the Committee. 
  

	 	(ii)	 Other Board Committees. 

The Board and all applicable committees of the Board shall take all necessary actions to (A) provide each of the Independent Designees,
immediately upon their respective appointment to the Board, the opportunity to be appointed to at least one (1) standing committee of the Board other than the Operating Committee (which shall be subject to the provisions of Section 1(b)(i)
above) and upon such Independent Designee’s consent to serve, immediately appoint such Independent Designee to such standing committee(s) of the Board and (B) provide the opportunity for at least one (1) of the Independent Designees
to be appointed to each committee of the Board other than the Operating Committee (which shall be subject to the provisions of Section 1(b)(i) above) and upon any such Independent Designee’s consent to serve, immediately appoint any such
Independent Designee to any such standing committee(s) of the Board. 
 (iii)    During the Standstill Period, at least
one (1) Independent Designee shall be provided the opportunity to be appointed to each standing committee of the Board other than the Operating Committee (which shall be subject to the provisions of Section 1(b)(i) above), and any
subcommittee thereof, including any new committee(s) and subcommittee(s) that may be established, provided that at least one (1) Independent Designee satisfies any NYSE listing standards and legal requirements for service on any such committee
with respect to financial expertise and independence. 

  
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 (iv)    The Board and all applicable committees of the Board shall give
each of the Independent Designees and the Additional Independent Director the same due consideration for membership to each other committee of the Board as any other independent director. 

 

	 	(c)	 Additional Agreements. 

(i)    Starboard shall comply, and shall cause each of its controlled Affiliates and Associates to comply, with the terms
of this Agreement and shall be responsible for any breach of this Agreement by any such controlled Affiliate or Associate. As used in this Agreement, the terms “Affiliate” and “Associate” shall have the respective
meanings set forth in Rule 12b-2 promulgated by the Securities and Exchange Commission under the Exchange Act and shall include all persons or entities that at any time during the term of this Agreement become
Affiliates or Associates of any person or entity referred to in this Agreement. 
 (ii)    During the Standstill Period,
except as otherwise provided herein, Starboard shall not, and shall cause each of its controlled Affiliates and Associates not to, directly or indirectly, (A) nominate or recommend for nomination any person for election at any annual or special
meeting of the Company’s stockholders, (B) submit any proposal for consideration at, or bring any other business before, any annual or special meeting of the Company’s stockholders, or (C) initiate, encourage or participate in
any “vote no,” “withhold” or similar campaign with respect to any annual or special meeting of the Company’s stockholders. Starboard shall not publicly or privately encourage or support any other stockholder, person or
entity to take any of the actions described in this Section 1(c)(ii). 
 (iii)    Starboard
shall appear in person or by proxy at the 2020 Annual Meeting and vote all shares of Common Stock beneficially owned by Starboard at the 2020 Annual Meeting (A) in favor of all directors nominated by the Board for election, (B) in favor of
the ratification of the Company’s registered public accounting firm for the fiscal year ended January 31, 2021, (C) in accordance with the Board’s recommendation with respect to the Company’s “say-on-pay” proposal and (D) in accordance with the Board’s recommendation with respect to any other Company proposal or stockholder proposal or nomination presented at the 2020 Annual
Meeting; provided, however, that in the event that Institutional Shareholder Services Inc. (“ISS”) or Glass Lewis & Co., LLC (“Glass Lewis”) recommends otherwise with respect to (A) the
Company’s “say-on-pay” proposal, (B) any other Company proposal or stockholder proposal presented at the 2020 Annual Meeting, or (C) the
election of any director, then, in each case, Starboard shall be permitted to vote in accordance with the ISS or Glass Lewis recommendation. 

(iv)    Starboard acknowledges that, prior to the date of this Agreement, each Independent Designee and prior to any
appointment, each Replacement Director, is required to submit to the Company a fully completed copy of the Company’s standard director & officer questionnaire and other reasonable and customary director onboarding documentation
applicable to directors of the Company, including consent to the Company’s customary background check. 

(v)    The Company agrees that the Board and all applicable committees of the Board shall take all necessary actions,
effective no later than immediately following the execution of this Agreement, to determine, in connection with their initial appointment as a director and nomination by the Company at the 2020 Annual Meeting, as applicable, that each of

  
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the Independent Designees and the Additional Independent Director is deemed to be (A) a member of the “Incumbent Board” or “Continuing Director” (as such term may be
defined in the definition of “Change in Control,” “Change of Control” (or any similar term) under the Company’s incentive plans, options plans, equity plans, deferred compensation plans, employment agreements, severance
plans, retention plans, loan agreements, or indentures, including, without limitation, the Company’s Change in Control and Severance Agreements, or any other related plans or agreements that refer to any such plan, policy or agreement’s
definition of “Change in Control” or any similar term) and (B) a member of the Board as of the beginning of any applicable measurement period for the purposes of the definition of “Change in Control” or any similar term
under the Company’s incentive plans, options plans, equity plans, deferred compensation plans, employment agreements, severance plans, retention plans, loan agreements, or indentures, including, without limitation, the Company’s Change in
Control and Severance Agreements and any other retention plan, severance plan, or change-in-control severance plan. 

 

	2.	 Standstill Provisions. 

(a)    Starboard agrees that, from the date of this Agreement until the earlier of (x) the date that is fifteen
(15) business days prior to the deadline for the submission of stockholder nominations for the 2021 Annual Meeting pursuant to the Bylaws or (y) the date that is one hundred (100) days prior to the first anniversary of the 2020 Annual
Meeting (the “Standstill Period”), Starboard shall not, and shall cause each of its controlled Affiliates and Associates not to, in each case directly or indirectly, in any manner: 

(i)    engage in any solicitation of proxies or become a “participant” in a “solicitation” (as such
terms are defined in Regulation 14A under the Exchange Act) of proxies (including, without limitation, any solicitation of consents that seeks to call a special meeting of stockholders), in each case, with respect to securities of the Company; 

(ii)    form, join, or in any way knowingly participate in any “group” (within the meaning of
Section 13(d)(3) of the Exchange Act) with respect to the shares of the Common Stock (other than a “group” that includes all or some of the members of Starboard, but does not include any other entities or persons that are not members
of Starboard as of the date hereof); provided, however, that nothing herein shall limit the ability of an Affiliate of Starboard to join the “group” following the execution of this Agreement so long as any such Affiliate
agrees to be bound by the terms and conditions of this Agreement; 
 (iii)    deposit any shares of Common Stock in any
voting trust or subject any shares of Common Stock to any arrangement or agreement with respect to the voting of any shares of Common Stock, other than any such voting trust, arrangement or agreement solely among the members of Starboard and
otherwise in accordance with this Agreement; 
 (iv)    seek or submit, or knowingly encourage any person or entity to
seek or submit, nomination(s) in furtherance of a “contested solicitation” for the appointment, election or removal of directors with respect to the Company or seek, or knowingly encourage or take any other action with respect to the
appointment, election or removal of any directors, in each case in opposition to the recommendation of the Board; provided, however, that nothing in this Agreement shall prevent Starboard or its Affiliates or Associates from taking
actions in 

  
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furtherance of identifying director candidates in connection with the 2021 Annual Meeting so long as such actions do not create a public disclosure obligation for Starboard or the Company and are
undertaken on a basis reasonably designed to be confidential and in accordance in all material respects with Starboard’s normal practices in the circumstances; 

(v)    (A) make any proposal for consideration by stockholders at any annual or special meeting of stockholders of the
Company or through any referendum of stockholders, (B) make any offer or proposal (with or without conditions) with respect to any merger, tender (or exchange) offer, acquisition, recapitalization, restructuring, disposition or other business
combination involving Starboard and the Company, (C) affirmatively solicit a third party to make an offer or proposal (with or without conditions) with respect to any merger, tender (or exchange) offer, acquisition, recapitalization,
restructuring, disposition or other business combination involving the Company, or publicly encourage, initiate or support any third party in making such an offer or proposal, (D) publicly comment on any third party proposal regarding any
merger, tender (or exchange) offer, acquisition, recapitalization, restructuring, disposition, or other business combination with respect to the Company by such third party prior to such proposal becoming public, or (E) call or seek to call a
special meeting of stockholders; 
 (vi)    seek, alone or in concert with others, representation on the Board, except
as specifically permitted in Section 1; 
 (vii)    advise, knowingly encourage, knowingly
support or knowingly influence any person or entity with respect to the voting or disposition of any securities of the Company at any annual or special meeting of stockholders, except in accordance with Section 1; or 

(viii)    make any request or submit any proposal to amend the terms of this Agreement other than through non-public communications with the Company or the Board that would not be reasonably determined to trigger public disclosure obligations for any Party. 

(b)    Except as expressly provided in Section 1 or Section 2(a),
Starboard shall be entitled to (i) vote any shares of Common Stock that it beneficially owns as Starboard determines in its sole discretion and (ii) disclose, publicly or otherwise, how it intends to vote or act with respect to any
securities of the Company, any stockholder proposal or other matter to be voted on by the stockholders of the Company and the reasons therefor, subject to Section 1(c)(iii). 

(c)    Nothing in Section 2(a) shall be deemed to limit the exercise in good faith by any
Independent Designee (or a Replacement Director, as applicable) of such person’s fiduciary duties solely in such person’s capacity as a director of the Company. 
  

	3.	 Representations and Warranties of the Company. 

The Company represents and warrants to Starboard that (a) the Company has the corporate power and authority to execute this Agreement and
to bind it thereto, (b) this Agreement has been duly and validly authorized, executed and delivered by the Company, and assuming due execution by each counterparty hereto, constitutes a valid and binding obligation and agreement of the Company,
and is enforceable against the Company in accordance with its terms, except as enforcement thereof may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance or similar laws generally affecting the rights

  
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of creditors and subject to general equity principles, (c) prior to the Board appointing any Independent Designees as directors pursuant to this Agreement, the Board is composed of nine
(9) directors and there are no vacancies on the Board and (d) the execution, delivery and performance of this Agreement by the Company does not and will not (i) violate or conflict with any law, rule, regulation, order, judgment or
decree applicable to the Company, or (ii) result in any breach or violation of or constitute a default (or an event which with notice or lapse of time or both would constitute such a breach, violation or default) under or pursuant to, or result
in the loss of a material benefit under, or give any right of termination, amendment, acceleration or cancellation of, any organizational document or material agreement to which the Company is a party or by which it is bound. 

 

	4.	 Representations and Warranties of Starboard. 

Starboard represents and warrants to the Company that (a) the authorized signatory of Starboard set forth on the signature page hereto has
the power and authority to execute this Agreement and any other documents or agreements to be entered into in connection with this Agreement and to bind Starboard thereto, (b) this Agreement has been duly authorized, executed and delivered by
Starboard, and assuming due execution by each counterparty hereto, is a valid and binding obligation of Starboard, enforceable against Starboard in accordance with its terms except as enforcement thereof may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium, fraudulent conveyance or similar laws generally affecting the rights of creditors and subject to general equity principles, (c) the execution of this Agreement, the consummation of any of the transactions
contemplated hereby, and the fulfillment of the terms hereof, in each case in accordance with the terms hereof, will not conflict with, or result in a breach or violation of the organizational documents of Starboard as currently in effect,
(d) the execution, delivery and performance of this Agreement by Starboard does not and will not (i) violate or conflict with any law, rule, regulation, order, judgment or decree applicable to Starboard, or (ii) result in any breach
or violation of or constitute a default (or an event which with notice or lapse of time or both would constitute such a breach, violation or default) under or pursuant to, or result in the loss of a material benefit under, or give any right of
termination, amendment, acceleration or cancellation of, any organizational document, agreement, contract, commitment, understanding or arrangement to which such member is a party or by which it is bound, (e) as of the date of this Agreement,
Starboard is deemed to beneficially own 11,774,546 shares of Common Stock, and (f) as of the date hereof, and except as set forth in clause (e) above, Starboard does not currently have, and does not currently have any right to acquire, any
interest in any securities or assets of the Company or its Affiliates (or any rights, options or other securities convertible into or exercisable or exchangeable (whether or not convertible, exercisable or exchangeable immediately or only after the
passage of time or the occurrence of a specified event) for such securities or assets or any obligations measured by the price or value of any securities of the Company or any of its controlled Affiliates, including any swaps or other derivative
arrangements designed to produce economic benefits and risks that correspond to the ownership of shares of Common Stock or any other securities of the Company, whether or not any of the foregoing would give rise to beneficial ownership (as
determined under Rule 13d-3 promulgated under the Exchange Act), and whether or not to be settled by delivery of shares of Common Stock or any other class or series of the Company’s stock, payment of cash
or by other consideration, and without regard to any short position under any such contract or arrangement, or (g) Starboard has not agreed to, directly or indirectly, compensate or agree to compensate, and

  
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will not, directly or indirectly, compensate or agree to compensate, any Independent Designee for his or her respective service as a nominee or director of the Company with any cash, securities
(including any rights or options convertible into or exercisable for or exchangeable into securities or any profit sharing agreement or arrangement), or other form of compensation directly or indirectly related to the Company or its securities. For
the avoidance of doubt, nothing herein shall prohibit Starboard from compensating or agreeing to compensate any person for his or her respective service as a nominee or director of any other company. 

 

	5.	 Press Release. 

Promptly following the execution of this Agreement, the Company and Starboard shall jointly issue a mutually agreeable press release (the
“Press Release”) announcing certain terms of this Agreement in the form attached hereto as Exhibit A. Prior to the issuance of the Press Release and subject to the terms of this Agreement, neither the Company (including the
Board and any committee thereof) nor Starboard shall issue any press release or make public announcement regarding this Agreement or the matters contemplated hereby without the prior written consent of the other Party. During the Standstill Period,
neither the Company nor Starboard shall make any public announcement or statement that is inconsistent with or contrary to the terms of this Agreement. 
  

	6.	 Specific Performance. 

Each of Starboard, on the one hand, and the Company, on the other hand, acknowledges and agrees that irreparable injury to the other Party
hereto would occur in the event any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached and that such injury would not be adequately compensable by the remedies available at law
(including the payment of money damages). It is accordingly agreed that Starboard, on the one hand, and the Company, on the other hand (the “Moving Party”), shall each be entitled to specific enforcement of, and injunctive relief to
prevent any violation of, the terms hereof, and the other Party hereto will not take action, directly or indirectly, in opposition to the Moving Party seeking such relief on the grounds that any other remedy or relief is available at law or in
equity. This Section 6 is not the exclusive remedy for any violation of this Agreement. 
  

	7.	 Expenses. 

The Company shall reimburse Starboard for its reasonable, documented
out-of-pocket fees and expenses (including legal expenses) incurred in connection with Starboard’s involvement at the Company through the date of this Agreement,
including, but not limited to the negotiation and execution of this Agreement, provided that such reimbursement shall not exceed $200,000 in the aggregate. 
  

	8.	 Severability. 

If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, void or
unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Agreement shall remain in full force and effect and shall in no way be affected, impaired or invalidated. It is hereby stipulated and declared to be the

  
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intention of the Parties that the Parties would have executed the remaining terms, provisions, covenants and restrictions without including any of such which may be hereafter declared invalid,
void or unenforceable. In addition, the Parties agree to use their best efforts to agree upon and substitute a valid and enforceable term, provision, covenant or restriction for any of such that is held invalid, void or enforceable by a court of
competent jurisdiction. 
  

	9.	 Notices. 

Any notices, consents, determinations, waivers or other communications required or permitted to be given under the terms of this Agreement must
be in writing and will be deemed to have been delivered: (a) upon receipt, when delivered personally; (b) upon confirmation of receipt, when sent by email (provided such confirmation is not automatically generated); or (c) two
(2) business days after deposit with a nationally recognized overnight delivery service, in each case properly addressed to the Party to receive the same. The addresses for such communications shall be: 

If to the Company: 
 Box, Inc. 

900 Jefferson Ave. 
 Redwood City,
California 94063 
 Attention: David Leeb, Senior Vice President, General Counsel & Corporate Secretary 

E-mail:     dleeb@box.com 

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

			
	Wilson Sonsini Goodrich & Rosati
 Professional Corporation

650 Page Mill Road
 Palo Alto, CA 94304

	Attn:	 	 David J. Berger
 Martin W. Korman

Jose F. Macias
 Bradley L. Finkelstein

	Email:	 	 dberger@wsgr.com

mkorman@wsgr.com
 jmacias@wsgr.com

bfinkelstein@wsgr.com 

  
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 If to Starboard or any member thereof: 

 

			
	Starboard Value LP
 777 Third Avenue, 18th Floor

New York, NY 10017

	Attention:	 	Jeffrey C. Smith
	Email:	 	jsmith@starboardvalue.com

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

			
	Olshan Frome Wolosky LLP
 1325 Avenue of the Americas

New York, New York 10019

	Attention:	 	 Steve Wolosky, Esq.
 Andrew Freedman,
Esq.

	Email:	 	 swolosky@olshanlaw.com

afreedman@olshanlaw.com

  

	10.	 Applicable Law. 

This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Delaware without reference to the
conflict of laws principles thereof that would result in the application of the law of another jurisdiction. Each of the Parties hereto irrevocably agrees that any legal action or proceeding with respect to this Agreement and the rights and
obligations arising hereunder, or for recognition and enforcement of any judgment in respect of this Agreement and the rights and obligations arising hereunder brought by the other Party hereto or its successors or assigns, shall be brought and
determined exclusively in the Delaware Court of Chancery and any state appellate court therefrom within the State of Delaware (or, if the Delaware Court of Chancery declines to accept jurisdiction over a particular matter, any federal court within
the State of Delaware). Each of the Parties hereto hereby irrevocably submits with regard to any such action or proceeding for itself and in respect of its property, generally and unconditionally, to the personal jurisdiction of the aforesaid courts
and agrees that it will not bring any action relating to this Agreement in any court other than the aforesaid courts. Each of the Parties hereto hereby irrevocably waives, and agrees not to assert in any action or proceeding with respect to this
Agreement, (a) any claim that it is not personally subject to the jurisdiction of the above-named courts for any reason, (b) any claim that it or its property is exempt or immune from jurisdiction of any such court or from any legal
process commenced in such courts (whether through service of notice, attachment prior to judgment, attachment in aid of execution of judgment, execution of judgment or otherwise) and (c) to the fullest extent permitted by applicable legal
requirements, any claim that (i) the suit, action or proceeding in such court is brought in an inconvenient forum, (ii) the venue of such suit, action or proceeding is improper or (iii) this Agreement, or the subject matter hereof,
may not be enforced in or by such courts. 

  
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	11.	 Counterparts. 

This Agreement may be executed in two or more counterparts, each of which shall be considered one and the same agreement and shall become
effective when counterparts have been signed by each of the Parties and delivered to the other Party (including by means of electronic delivery or facsimile). 
  

	12.	 Mutual Non-Disparagement. 

Subject to applicable law, each of the Parties covenants and agrees that, during the Standstill Period, or if earlier, until such time as the
other Party or any of its agents, subsidiaries, affiliates, successors, assigns, officers, key employees or directors shall have breached this Section 12, neither it nor any of its respective agents, subsidiaries,
affiliates, successors, assigns, officers, key employees or directors shall in any way publicly criticize, disparage, call into disrepute or otherwise defame or slander the other Party or such other Party’s subsidiaries, affiliates, successors,
assigns, officers (including any current officer of a Party or a Party’s subsidiaries who no longer serves in such capacity following the execution of this Agreement), directors (including any current officer or director of a Party or a
Party’s subsidiaries who no longer serves in such capacity in connection with the execution of this Agreement), employees, stockholders, agents, attorneys or representatives, or any of their businesses, products or services, in any manner that
would reasonably be expected to damage the business or reputation of such other Party, their businesses, products or services or their subsidiaries, affiliates, successors, assigns, officers (or former officers), directors (or former directors),
employees, shareholders, agents, attorneys or representatives. 
  

	13.	 Securities Laws. 

Starboard acknowledges that it is aware, and will advise each of its representatives who are informed as to the matters that are the subject of
this Agreement, that the United States securities laws may prohibit any person who directly or indirectly has received from an issuer material, non-public information from purchasing or selling securities of
such issuer or from communicating such information to any other person under circumstances in which it is reasonably foreseeable that such person is likely to purchase or sell such securities. 

 

	14.	 Entire Agreement; Amendment and Waiver; Successors and Assigns; Third Party Beneficiaries; Term.

 This Agreement contains the entire understanding of the Parties with respect to its subject matter. There are no
restrictions, agreements, promises, representations, warranties, covenants or undertakings between the Parties other than those expressly set forth herein. No modifications of this Agreement can be made except in writing signed by an authorized
representative of each the Company and Starboard. No failure on the part of any Party to exercise, and no delay in exercising, any right, power or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of such
right, power or remedy by such Party preclude any other or further exercise thereof or the exercise of any other right, power or remedy. All remedies hereunder are cumulative and are not exclusive of any other remedies provided by law. The terms and
conditions of this Agreement shall be binding upon, inure to the benefit of, and be 

  
 12 

 
enforceable by the Parties hereto and their respective successors, heirs, executors, legal representatives, and permitted assigns. No Party shall assign this Agreement or any rights or
obligations hereunder without, with respect to Starboard, the prior written consent of the Company, and with respect to the Company, the prior written consent of Starboard. This Agreement is solely for the benefit of the Parties and is not
enforceable by any other persons or entities. This Agreement shall terminate at the end of the Standstill Period, except provisions of Sections 6 through 11 and Sections 13 through 14, which shall survive such termination. 

[The remainder of this page intentionally left blank] 

  
 13 

 IN WITNESS WHEREOF, this Agreement has been duly executed and delivered by the duly
authorized signatories of the Parties as of the date hereof. 
  

			
	BOX, INC.
		
	By:	 	 /s/ Aaron Levie

	Name:	 	Aaron Levie
	Title:	 	Chairman and Chief Executive Officer

 [Signature Page to Agreement] 

			
	STARBOARD VALUE AND OPPORTUNITY MASTER FUND LTD

			
	By:	 	Starboard Value LP,
		 	its investment manager

			
	
	STARBOARD VALUE AND OPPORTUNITY S LLC

			
	By:	 	Starboard Value LP,
		 	its manager
	
	STARBOARD VALUE AND OPPORTUNITY C LP

			
	By:	 	Starboard Value R LP,
		 	its general partner

			
	
	STARBOARD VALUE R LP

			
	By:	 	Starboard Value R GP LLC,
		 	its general partner

			
	
	STARBOARD VALUE AND OPPORTUNITY MASTER FUND LLP

			
	By:	 	Starboard Value L LP,
		 	its general partner
	
	STARBOARD VALUE L LP

			
	By:	 	Starboard Value R GP LLC,
		 	its general partner
	
	STARBOARD VALUE LP

			
	By:	 	Starboard Value GP LLC,
		 	its general partner
	
	STARBOARD VALUE GP LLC

			
	By:	 	Starboard Principal Co LP,
		 	its member
	
	STARBOARD PRINCIPAL CO LP

			
	By:	 	Starboard Principal Co GP LLC,
		 	its general partner

			
	
	STARBOARD PRINCIPAL CO GP LLC

			
	
	STARBOARD VALUE R GP LLC

  

					
	                                	 	By:	 	
/s/ Peter A. Feld               
                     

		 	Name:	 	Peter A. Feld
		 	Title:	 	Authorized Signatory

 [Signature Page to Agreement] 

 Exhibit A 

Press Release 

 Box Announces Agreement with Starboard 

Three New Independent Directors to Join Board 

Announces Formation of Operating Committee to Drive Growth and Margin Improvement 

REDWOOD CITY, Calif. — (March 23, 2020) — Box (NYSE: BOX), a leader in cloud content management, today announced that it has entered
into an agreement with Starboard Value LP (together with certain of its affiliates, “Starboard”), an investment firm which owns approximately 7.7% of the Company’s outstanding common stock. 

Under the terms of the agreement, three new independent directors will join the Box Board of Directors prior to the company’s 2020 Annual Meeting of
Stockholders in June 2020 (“2020 Annual Meeting”), two incumbent directors will not stand for re-election to the board at the 2020 Annual Meeting and one incumbent director will retire from the board
effective as of the 2020 Annual Meeting. The board will be set at 9 directors following the 2020 Annual Meeting. 
 Jack Lazar, formerly chief financial
officer of GoPro and Atheros Communications, will join the Box Board of Directors immediately. In addition, a second new director will be selected from a list of candidates provided by Starboard or will otherwise be mutually agreed. A third new
director will be selected by the board prior to the 2020 Annual Meeting. 
 “We are pleased to welcome Jack to our board,” said Aaron Levie, Box Co-founder, CEO, and Chairman. “He brings valuable experience in both the enterprise and consumer technology markets, along with a strong track record of helping companies drive disciplined growth and
profitability as both a leader and board member. I look forward to working with Jack and our other new independent directors to continue to create value for stockholders. We are also pleased to continue our collaboration with Starboard and
appreciate the constructive approach they have taken.” 
 “I’m thrilled to join the Box Board of Directors. Aaron, Dylan, and the entire
leadership team at Box have pioneered cloud content management and the company has a massive opportunity to define the future of work around the world,” said Mr. Lazar. “I’m honored to be joining an experienced board and look
forward to helping Box drive sustainable and profitable growth.” 
 Rory O’Driscoll will not stand for
re-election and Josh Stein will retire from Box’s Board of Directors at the time of the 2020 Annual Meeting. Box co-founder Dylan Smith will continue in his role as
CFO but will not stand for re-election as a director at the 2020 Annual Meeting. 
 “We thank Rory and Josh for
their many contributions as directors and early investors in Box,” Mr. Levie added. “Rory has served on our board for 10 years, and Josh has served for nearly 14 years. During that time, they have played a critical role in the growth
of Box, and we have benefitted greatly from their valuable insight and support.” 

 In addition, Box today announced the formation of an Operating Committee of the board. This committee will
work with Box’s CEO, CFO, and management to identify and recommend opportunities for further improvement in growth and margin performance. Mr. Lazar and the new independent director chosen in collaboration with Starboard will join existing
directors Sue Barsamian and Kim Hammonds on the committee. Ms. Barsamian has served on the board since 2018 and brings several decades of enterprise software experience from HP and Mercury Interactive. Ms. Hammonds has served on the board
since 2018 and brings leadership experience from her previous roles as the Group COO of Deutsche Bank AG and the CIO of The Boeing Company. 
 Peter Feld,
Managing Member of Starboard, said, “We are pleased to have worked constructively with the Box board and management team to reach this agreement to strengthen the board with new independent directors and to create a new Operating Committee. We
see a number of opportunities for substantial shareholder value creation and look forward to seeing the Company execute on opportunities to drive profitable growth towards a
best-in-class financial profile. We are confident the addition of three new independent directors will add tremendous value to the board, and we also share the
board’s appreciation for Rory and Josh’s years of service.” 
 The agreement with Starboard includes other customary provisions. Additional
information about today’s announcement will be filed on a Form 8-K with the U.S. Securities and Exchange Commission. 

Morgan Stanley & Co. LLC is serving as financial advisor to Box and Wilson Sonsini Goodrich & Rosati, Professional Corporation is serving as
legal advisor. 
 About Jack Lazar 
 Mr. Lazar is
currently an independent business consultant and has served on the Board of Directors at Silicon Laboratories, Inc. (SLAB) since April 2013, Mellanox Technologies (MLNX) since June 2018, Resideo Technologies (REZI) since October 2018 and Casper
Sleep (CSPR) since April 2019. Mr. Lazar also served on the Board of Directors of TubeMogul, an enterprise software company for digital branding, from October 2013 to December 2016 when it was acquired by Adobe Systems and Quantenna
Communications, a wireless semiconductor company, from July 2016 to June 2019 when it was acquired by ON Semiconductor. 
 From January 2014 until March
2016, he served as Chief Financial Officer at GoPro, Inc., a provider of wearable and mountable capture devices, where he completed its 2014 IPO. From January 2013 to January 2014 he served as an independent business consultant. From May 2011 to
January 2013, Mr. Lazar was employed by Qualcomm, a developer of communications semiconductor solutions, and served as Senior Vice President, Corporate Development and General Manager of Qualcomm Atheros, a developer of communications
semiconductor solutions. 

 Mr. Lazar served in a variety of positions at Atheros Communications, Inc. from September 2003 until it
was acquired by Qualcomm in May 2011. Most recently, he served as Atheros’ Chief Financial Officer and Senior Vice President of Corporate Development. During his tenure at Atheros, the company completed its IPO. Mr. Lazar is a certified
public accountant (inactive) and holds a B.S. in commerce with an emphasis in accounting from Santa Clara University. 
 About Box 

Box (NYSE:BOX) is a leading Cloud Content Management platform that enables organizations to accelerate business processes, power workplace collaboration, and
protect their most valuable information, all while working with a best-of-breed enterprise IT stack. Founded in 2005, Box simplifies work for leading organizations
globally, including AstraZeneca, General Electric, JLL and Morgan Stanley. Box is headquartered in Redwood City, CA, with offices in the United States, Europe, and Asia. To learn more about Box, visit http://www.box.com. To learn more about how
Box powers nonprofits to fulfill their missions, visit Box.org. 
 About Starboard 

Starboard Value LP is a New York-based investment adviser with a focused and differentiated fundamental approach to investing primarily in publicly traded U.S.
companies. Starboard invests in deeply undervalued companies and actively engages with management teams and boards of directors to identify and execute on opportunities to unlock value for the benefit of all shareholders. 

Contacts 
 Media Inquiries: 

Denis Roy and Rachel Levine 
 +1 650-543-6926 
 press@box.com 

Investor Relations: 
 Alice Kousoum Lopatto and Elaine Gaudioso

 +1 650-209-3467 

ir@box.comExhibit

Exhibit 10.1
Execution Verison

AMENDMENT NO. 1 TO CREDIT AGREEMENT
This AMENDMENT NO. 1 (this “Amendment”) dated as of March 20, 2020 to the Credit Agreement dated as of June 26, 2019 (as amended, supplemented or otherwise modified prior to the Amendment No. 1 Effective Date (as defined below), the “Credit Agreement”), among R1 RCM Inc., a Delaware corporation (the “Borrower”), the other Credit Parties party thereto, and Bank of America, N.A. (in its individual capacity, “Bank of America”), as Agent for the Lenders party thereto, is entered into and among the Borrower, the other Credit Parties, the Agent, and the financial institutions party hereto as Lenders and as 2020 DDTL Lenders (as defined below). 
WHEREAS, pursuant to and in accordance with Section 1.1(e) of the Credit Agreement, the Borrower has requested Incremental Term Loans (as defined in the Credit Agreement) in the form of a delayed draw term loan facility in an aggregate principal amount of $191,100,000 (the “2020 DDTL Facility”, and the loans thereunder, the “2020 Delayed Draw Term Loans”), which the Borrower intends to treat once drawn as fully fungible with the Initial Term Loans that are outstanding under the Credit Agreement immediately prior to giving effect to this Amendment (the “Existing Term Loans”);
WHEREAS, the Lenders under the Credit Agreement have elected to provide the commitments with respect to the 2020 DDTL Facility and the 2020 Delayed Draw Term Loans on the terms and conditions set forth in this Amendment, which is being entered into pursuant to and in accordance with Section 1.1(e)(iv) of the Credit Agreement;
WHEREAS, each Person that agrees to provide such commitment and make such 2020 Delayed Draw Term Loans (collectively, the “2020 DDTL Lenders”) will, in each case in accordance with the terms and conditions hereunder, provide a 2020 DDTL Commitment (as defined below) on the Amendment No. 1 Effective Date (as defined below) and make 2020 Delayed Draw Term Loans to the Borrower on the DDTL Funding Date (as defined below) in an amount equal to its 2020 DDTL Commitment and will become, if not already, a Lender, for all purposes under the Amended Credit Agreement (as defined below);
WHEREAS, the Borrower intends to use the proceeds of the 2020 Delayed Draw Term Loans solely to finance a portion of the 2020 Amendment Transactions (as defined below);
WHEREAS, BofA Securities, Inc., JPMorgan Chase Bank, N.A., Wells Fargo Securities LLC and Capital One, National Association (the “Amendment No. 1 Lead Arrangers”) shall act as exclusive joint lead arrangers in connection with this Amendment and the 2020 Delayed Draw Term Loans, with BofA having “lead left” placement; and
WHEREAS, this Amendment will become effective on the Amendment No. 1 Effective Date on the terms and subject to the conditions set forth herein.
Accordingly, in consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:

US-DOCS\116393.17

ARTICLE I. 
DEFINITIONS
Section 1.01    Definitions. Capitalized terms used and not otherwise defined herein have the meanings assigned to them in the Credit Agreement as amended by this Amendment (the “Amended Credit Agreement”).
ARTICLE II.
DELAYED DRAW TERM LOANS
Section 2.01    2020 Delayed Draw Term Loans. Subject to the terms and conditions set forth herein, each 2020 DDTL Lender, severally but not jointly, agrees, on or prior to the DDTL Commitment Expiration Date (as defined hereinafter), to make a 2020 Delayed Draw Term Loan to the Borrower on the DDTL Funding Date in a principal amount set forth opposite such 2020 DDTL Lender’s name on Schedule I hereto (each such amount, a “2020 DDTL Commitment”). The 2020 DDTL Commitment of each 2020 DDTL Lender shall terminate immediately and without further action on the earliest of (i) the funding of the 2020 Delayed Draw Term Loans on the DDTL Funding Date, (ii) the date, if any, on which the Borrower voluntarily terminates all of the 2020 DDTL Commitments prior to the DDTL Funding Date  and/or (iii) 11:59 p.m. New York City time on May 9, 2020 (the "DDTL Commitment Expiration Date”). The entire amount of the 2020 DDTL Loans shall be available to the Borrower in a single borrowing on the DDTL Funding Date. Upon at least three (3) Business Days’ prior irrevocable written notice to the Agent, the Borrower may at any time in whole permanently terminate, or from time to time in part permanently reduce, the 2020 DDTL Commitments; provided that, each partial reduction shall be in an integral multiple of $1,000,000 and in a minimum amount of $1,000,000 (or, if less, the entire remaining amount of such commitments at such time). All such reductions of the 2020 DDTL Commitments shall be borne ratably by the 2020 DDTL Lenders. The Borrower shall pay to Agent a fee (the “Delayed Draw Unused Commitment Fee”) for the ratable account of each 2020 DDTL Lender, in an amount equal to: (i) the 2020 DDTL Commitment, multiplied by (ii) 0.50% per annum, provided that, if the Borrower permanently reduces the 2020 DDTL Commitments (the undrawn portion of the 2020 DDTL Commitments after giving effect to such reduction referred to as the “Reduced DDTL Commitments”), the fee payable by the Borrower to the Agent for the account of each 2020 DDTL Lender shall be in an amount equal to the sum of (A) up to (but excluding) the date of such reduction (i) the 2020 DDTL Commitment, multiplied by (ii) 0.50% per annum, and, (B) thereafter, until the DDTL Funding Date or the DDTL Expiration Date, as the case may be, (i) the Reduced DDTL Commitment, multiplied by (ii) 0.50% per annum. The Delayed Draw Unused Commitment Fee shall be payable on the earlier of (x) the DDTL Funding Date or (y) the DDTL Expiration Date, whether or not any funding of the 2020 Delayed Draw Term Loans shall occur. The Delayed Draw Unused Commitment Fee shall be computed on the basis of a 360-day year and actual days elapsed between the date hereof and the earlier of the (x) DDTL Funding Date or (y) DDTL Expiration Date.
Section 2.02    Terms of the 2020 Delayed Draw Term Loans. Notwithstanding anything to the contrary contained herein or in the Credit Agreement, from and after the DDTL Funding Date, the Existing Term Loans and the 2020 Delayed Draw Term Loans shall constitute a single Class 

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US-DOCS\113406393.17

and a single borrowing of Term Loans for all purposes under the Credit Agreement, as amended hereby (including, without limitation, with respect to the maturity date, mandatory prepayments and voluntary prepayments) and shall otherwise be subject to the provisions of the Amended Credit Agreement and the other Loan Documents. From and after the DDTL Funding Date, each reference to an “Initial Term Loan” or a “Term Loan” in the Amended Credit Agreement or the other Loan Documents shall be deemed to include the 2020 Delayed Draw Term Loans being made pursuant to this Amendment (including, without limitation, for purposes of the definitions of “Applicable Margin”, and “All-In Yield” in Section 11.1 of the Amended Credit Agreement, and “Permitted Repricing Amendment” in Section 9.1(e) of the Amended Credit Agreement) and all other related terms will have correlative meanings mutatis mutandis. From and after the DDTL Funding Date, each 2020 DDTL Lender shall be a “Lender” for purposes of the Amended Credit Agreement and the other Loan Documents, to the extent not already a Lender thereunder.
Section 2.03    Use of Proceeds. The proceeds of the 2020 Delayed Draw Term Loans shall be used on the DDTL Funding Date solely to finance the 2020 Amendment Transactions. Once repaid, no amount of 2020 Delayed Draw Term Loans may be reborrowed.
Section 2.04    Amortization. The Borrower hereby agrees that, effective as of the DDTL Funding Date, the Term Loans (including the Existing Term Loans and the 2020 Delayed Draw Term Loans) shall amortize as set forth on Schedule II hereto, and the amount of each payment of principal in respect of the Term Loans to be made by the Borrower under the Credit Agreement shall, in lieu of the applicable amount set forth therein, be in the applicable amount set forth on Schedule II hereto (as adjusted from time to time in accordance with the terms of Section 1.8(a) of the Credit Agreement (as amended hereby), provided, that, the Borrower agrees that Schedule II hereto may be modified, and the necessary modifications may be made to the Credit Agreement, in consultation with the Agent and the Lenders, to make appropriate adjustments to the amortization payments in the event that the 2020 DDTL Commitments are reduced pursuant to Section 1.7(b) of the Amended Credit Agreement. 
Section 2.05    Termination of obligations. The obligations of all parties hereunder shall terminate without any further action on the part of any party if the DDTL Funding Date does not occur prior to 11:59 p.m. (New York City time) on May 9, 2020.
ARTICLE III.
AMENDMENTS TO THE CREDIT AGREEMENT 
Section 3.01    Amendments to Credit Agreement. Each of the parties hereto agrees that, effective on the Amendment No. 1 Effective Date, the Credit Agreement is hereby amended as follows: 
(a)    Section 11.1 of the Credit Agreement is hereby amended by inserting the following definitions in the appropriate alphabetical order:
“2020 DDTL Commitment” means, with respect to each 2020 DDTL Lender, the commitment of such 2020 DDTL Lender to make the 2020 Delayed Draw Term Loans hereunder on the DDTL Funding Date, in an aggregate amount not to exceed the amount set forth opposite such 2020 DDTL 

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Lender’s name set forth in Schedule 1.1(a)(ii) hereunder, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement. 
“2020 DDTL Facility” means the amount of each 2020 DDTL Lender’s delayed draw term loan commitment on the Amendment No. 1 Effective Date in respect of the 2020 Delayed Draw  Term Loans to be funded to the Borrower as set forth on Schedule 1.1(a)(ii) hereunder. The amount of the 2020 DDTL Facility is $191,100,000 as of the Amendment No. 1 Effective Date. 
“2020 DDTL Lender” means each Person providing the 2020 DDTL Commitment and the 2020 Delayed Draw Term Loans pursuant to Amendment No. 1. 
“2020 Delayed Draw Term Loans” means the delayed draw term loans made pursuant to the 2020 DDTL Facility funded on the DDTL Funding Date, after giving effect to any reductions under Section 1.7(b) hereunder. From and after the DDTL Funding Date, the Initial Term Loans and the 2020 Delayed Draw Term Loans shall constitute a single Class and a single borrowing of Term Loans for all purposes under this Agreement and each reference to an “Initial Term Loan” or a “Term Loan” in this Agreement or the other Loan Documents shall be deemed to include the 2020 Delayed Draw Term Loans being made pursuant to Amendment No. 1.
“2020 Amendment Transactions” means the Amendment No. 1 Acquisition, together with each of the following transactions consummated or to be consummated in connection therewith: (a) the Borrower obtaining the 2020 Delayed Draw Term Loans and using the proceeds thereof as set forth in Amendment No. 1; (b) the Refinancing (as defined in Amendment No. 1), and (c) the payment of all fees, costs and expenses incurred in connection with the transactions described in the foregoing provisions of this definition.
“Agreement” means this Credit Agreement, as amended by Amendment No. 1 on the Amendment No. 1 Effective Date and as may be further amended, amended and restated, modified, supplemented, extended, renewed or otherwise modified from time to time.
“Amendment No. 1” shall mean that certain Amendment No. 1 to the Credit Agreement, dated as of March  20, 2020, among the Borrower, the other Credit Parties party thereto, the financial institutions party thereto as  2020 DDTL Lenders and as Lenders, and the Agent.
“Amendment No. 1 Acquisition” shall mean the acquisition by the Borrower, directly or indirectly, all of the outstanding equity interests of certain entities as set forth in the Amendment No. 1 Acquisition Agreement.
“Amendment No. 1 Acquisition Agreement” shall mean the Stock Purchase Agreement dated as of January 9, 2020, by and among the Borrower, Clearsight Intermediate Holdings, Inc., and Clearsight Group Holdings, LLC, as amended, restated, amended and restated, supplemented or otherwise modified in accordance with the terms of the Commitment Letter and Section 5.02(i) of Amendment No. 1. 

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“Amendment No. 1 Effective Date” means the date on which all the conditions precedent to effectiveness, listed in Section 5.01 of Amendment No. 1 to the Credit Agreement, shall have been satisfied or waived in accordance therewith.
“Amendment No. 1 Lead Arrangers” means BofA Securities, Inc., JPMorgan Chase Bank, N.A., Wells Fargo Securities LLC and Capital One, National Association, acting as exclusive joint lead arrangers in connection with Amendment No. 1 and the 2020 Delayed Draw Term Loans. 
“Commitment Letter” means that certain Commitment Letter dated as of January 9, 2020, by and among the Borrower, Bank of America, N.A., BofA Securities, Inc., JPMorgan Chase Bank, N.A., Wells Fargo Bank, National Association, and Wells Fargo Securities, LLC, as amended, restated, amended and restated, supplemented or otherwise modified. 
“DDTL Commitment Expiration Date” means the earliest of (i) the funding of the 2020 Delayed Draw Term Loans on the DDTL Funding Date, (ii) the date, if any, on which the Borrower voluntarily terminates all of the 2020 DDTL Commitments prior to the DDTL Funding Date and/or (iii) 11:59 p.m. New York City time on May 9, 2020. 
“DDTL Funding Date” means the date on which all the conditions precedent to the 2020 Delayed Draw Term Loans, listed in Section 5.02 of Amendment No. 1, shall have been satisfied or waived in accordance therewith and the funding of the 2020 Delayed Draw Term Loans shall have occurred in accordance with the terms of Amendment No. 1.
“Delayed Draw Unused Commitment Fee” has the meaning assigned to such term in Section 1.9(d) hereof.
“Reduced DDTL Commitments” has the meaning assigned to such term in Section 1.9(d) hereof.
“Specified Representations” means the representations and warranties of each of the Credit Parties (for the avoidance of doubt, on the DDTL Funding Date, including Clearsight Intermediate Holdings, Inc. and its Subsidiaries, if applicable) set forth in Sections 3.1 (with respect to clause (b)(ii) thereof, as it relates to entering into Amendment No. 1), 3.2 (as it relates to entering into Amendment No. 1 and the consummation of the 2020 Amendment Transactions), 3.3 (with respect to clause (a) thereof, as it relates to entering into Amendment No. 1 and the consummation of the 2020 Amendment Transactions, and for purposes of all clauses thereof, excluding Clearsight Intermediate Holdings, Inc. and its Subsidiaries), 3.4 (with respect to the due execution, delivery and enforceability of Amendment No. 1),  3.12, 3.15, 3.18, and 3.19 of this Agreement.
(b)    The following defined terms in Section 11.1 of the Credit Agreement are hereby amended and restated in their entirety to read as follows:
“Fee Letters” means (i) each of the ‘Fee Letters’ defined in the Engagement Letter and the Agency Fee Letter, and (ii) each of the ‘Fee Letters’ defined in the Commitment Letter. 
“Loan Documents” means this Agreement (including, for the avoidance of doubt, any Permitted Repricing Amendment, Extension, Extension Offer or any amendment entered into in connection 

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with an Incremental Facility incurred under the Loan Documents, including, without limitation, Amendment No. 1), the Fee Letters, the Collateral Documents, the Guaranty, any intercreditor or subordination agreement entered into in connection with Indebtedness permitted pursuant to Section 5.3(t) and all documents delivered to Agent and/or any Lender in connection with any of the foregoing.
“Term Loan” means any term loan made hereunder pursuant to Section 1.1(a), any Incremental Term Loan, any Extended Term Loan, and any Term Loan subject to a Permitted Repricing Amendment, as the context requires, and includes, on and after the DDTL Funding Date, the 2020 Delayed Draw Term Loans incurred under Amendment No. 1.
“Term Loan Commitment” means, with respect to each Lender, such Lender’s Initial Term Loan Commitment, any Incremental Term Loan Commitment of such Lender as set forth in any amendment under Section 9.1(e) (including the 2020 DDTL Commitment), any commitment to extend Term Loans of such Lender under Section 9.1(f) and any commitment to extend Term Loans of such Lender as set forth in any Permitted Repricing Amendment, as applicable, in each case, as amended to reflect Assignments and as such amount may be reduced or increased pursuant to this Agreement. Unless the context shall otherwise require, the term “Term Loan Commitments” shall include the Incremental Term Loan Commitments, any Commitment in respect of Term Loans subject to a Permitted Repricing Amendment, and, on and after the Amendment No. 1 Amendment Effective Date, the 2020 DDTL Commitments.
“Transactions” means, (x) collectively, (a) the funding of the Initial Term Loans and any Revolving Loans on the Closing Date, (b) the consummation of the Refinancing, (c) the consummation of any other transactions in connection with the foregoing on or about the Closing Date and (d) the payment of the Transaction Expenses, and (y) for the purposes of Amendment No. 1, means the 2020 Amendment Transactions. 
(c)    The following defined terms in Section 11.1 of the Credit Agreement are hereby amended as follows: 
The defined term “Class” is hereby amended to add the following sentence after the last sentence thereof:
“For the avoidance of doubt, the 2020 Delayed Draw Term Loans incurred under Amendment No. 1 shall constitute a single Class with the “Initial Term Loans”, and the 2020 DDTL Commitments (as defined therein) under Amendment No. 1 shall constitute an “Initial Term Loan Commitment”.”
The defined term “Lender” is hereby amended to add the following sentence after the last sentence thereof:
“For the avoidance of doubt, each 2020 DDTL Lender shall constitute a “Lender” hereunder and, after the DDTL Funding Date, the Agent shall update and/or modify the Register to give effect to the DDTL Funding Date and the 2020 Delayed Draw Term Loans.”

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(d)    Section 1.1(a)(i) of the Credit Agreement is hereby amended and restated in its entirety to read as follows: 
Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Credit Parties contained herein, (x) each Lender with an Initial Term Loan Commitment severally and not jointly agrees to lend to the Borrower in a single loan on the Closing Date in Dollars, the amount set forth opposite such Lender’s name in Schedule 1.1(a) under the heading “Initial Term Loan Commitment” (such amount being referred to herein as such Lender’s “Initial Term Loan Commitment”) and (y) each Lender with a 2020 DDTL Commitment severally and not jointly agrees to lend to the Borrower in a single loan on the DDTL Funding Date in Dollars, the amount set forth opposite such Lender’s name in Schedule 1.1(a)(ii) under the heading “2020 DDTL Commitment”. Amounts borrowed under this Section 1.1(a)(i) (including, for the avoidance of doubt, the 2020 Delayed Draw Term Loans) are referred to as the “Initial Term Loan.”
(e)    Schedule 1.1(a) to the Credit Agreement is hereby renamed to Schedule 1.1(a)(i) to the Credit Agreement, and all references in the Credit Agreement to Schedule 1.1(a) to the Credit Agreement are hereby updated to refer to Schedule 1.1(a)(i) to the Credit Agreement. 
(f)    The following Schedule 1.1(a)(ii) is added to the Credit Agreement, after Schedule 1.1(a(i):
Schedule 1.1(a)(ii)
2020 DDTL Commitments
	
			
	Lender
	2020 DDTL Commitment
	Percentage

	BANK OF AMERICA, N.A.
	$52,000,000.00
	27%

	JPMORGAN CHASE BANK, N.A.
	$50,000,000.00
	26%

	WELLS FARGO BANK, NATIONAL ASSOCIATION
	$35,000,000.00
	18%

	CAPITAL ONE, NATIONAL ASSOCIATION
	$20,000,000.00
	10%

	U.S. BANK NATIONAL ASSOCIATION
	$14,100,000.00
	7%

	KEYBANK NATIONAL ASSOCIATION
	$10,000,000.00
	5%

	PNC BANK, NATIONAL ASSOCIATION
	$10,000,000.00
	5%

	TOTAL:
	$191,100,000.00
	100%

(g)    Section 2.2 of the Credit Agreement is hereby amended by adding the following sentence at the end thereof:

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“It is understood and agreed that, notwithstanding anything in the Loan Documents to the contrary, the funding of the 2020 Delayed Draw Term Loans on the DDTL Funding Date is subject solely to the satisfaction or waiver of the conditions set forth in Section 5.02 of Amendment No. 1.”
(h)    Section 4.11 of the Credit Agreement is hereby amended by adding the following sentence at the end thereof:
All proceeds of the 2020 Delayed Draw Term Loans incurred under the 2020 DDTL Facility will be used by the Borrower solely to finance the 2020 Amendment Transactions.
(i)    Section 1.7(b) of the Credit Agreement is hereby amended and restated in its entirety as follows: 
“(b) Reductions in Loan Commitments. The Borrower may at any time upon at least one (1) Business Day’s (or such shorter period as is acceptable to Agent) prior written notice by the Borrower to Agent permanently reduce the Aggregate Revolving Loan Commitment without premium or penalty; provided that such reductions shall be in an amount greater than or equal to $250,000 or any multiple in excess thereof. All reductions of the Aggregate Revolving Loan Commitment shall be allocated pro rata among all Lenders with a Revolving Loan Commitment. A permanent reduction of the Aggregate Revolving Loan Commitment shall not require a corresponding pro rata reduction in the L/C Sublimit or the Swingline Commitment; provided that the L/C Sublimit and/or the Swingline Commitment, as applicable, shall be permanently reduced by the amount thereof in excess of the Aggregate Revolving Loan Commitment. Unless previously terminated, the 2020 DDTL Commitments shall automatically terminate (i) in the event any 2020 Delayed Draw Term Loan is funded, upon the making of such 2020 Delayed Draw Term Loan (even if the amount funded is less than the full amount of the Delayed Draw Term Commitments) and (ii) in any event, on the DDTL Expiration Date. Additionally, the Borrower shall have the right, upon not less than three (3) Business Days’ irrevocable written notice by the Borrower to the Agent, to terminate the 2020 DDTL Commitments or, from time to time, to reduce the amount thereof, provided that, each partial reduction shall be in an integral multiple of $1,000,000 and in a minimum amount of $1,000,000 (or, if less, the entire remaining amount of such commitments at such time). All such reductions of the 2020 DDTL Commitments shall be borne ratably by the 2020 DDTL Lenders.
(j)    Section 1.8(a) of the Credit Agreement is hereby amended and restated in its entirety as follows: 
“(a) Scheduled Term Loan Payments. Subject to adjustment as a result of the application of prepayments or buybacks in accordance with Sections 1.7 or 1.8(f), in each case, solely to the extent of any such amounts applied to the prepayment of the Initial Term Loans, the Borrower shall repay to Agent for the ratable account of the appropriate Lenders on each date set forth below the principal amount of Initial Term Loans set forth below opposite such date, provided, that, the Borrower agrees the below schedule may be modified, and the necessary modifications may be made to the Credit Agreement, in consultation with the Agent and the Lenders hereto, to 

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make appropriate adjustments to the amortization payments in the event that the 2020 DDTL Commitments are reduced pursuant to Section 1.7(b) hereof.
	
		
	Date
	Initial Term Loan 
Repayment Amount

	March 31, 2020
	$4,062,500.00

	June 30, 2020
	$6,451,250.00

	September 30, 2020
	$6,451,250.00

	December 31, 2020
	$6,451,250.00

	March 31, 2021
	$6,451,250.00

	June 30, 2021
	$6,451,250.00

	September 30, 2021
	$9,676,875.00

	December 31, 2021
	$9,676,875.00

	March 31, 2022
	$9,676,875.00

	June 30, 2022
	$9,676,875.00

	September 30, 2022
	$9,676,875.00

	December 31, 2022
	$9,676,875.00

	March 31, 2023
	$9,676,875.00

	June 30, 2023
	$9,676,875.00

	September 30, 2023
	$12,902,500.00

	December 31, 2023
	$12,902,500.00

	March 31, 2024
	$12,902,500.00

	Maturity Date for the Initial Term Loans
	Remaining unpaid principal amount

The remaining unpaid principal amount of Initial Term Loans (including, for the avoidance of doubt, the 2020 DDTL Term Loans), shall be due and payable on the Maturity Date for the Initial Term Loans. The Borrower promises to repay to Agent for the ratable account of the appropriate Lenders (i) any Incremental Term Loans on each date set forth in the applicable amendment or related documentation such amount of such Incremental Term Loans as agreed in such amendment or related documentation and (ii) any Extended Term Loans on the applicable maturity date and other applicable repayment dates and in the amounts set forth in the applicable Extension and/or Extension Offer.”
(k)    Section 1.9 of the Credit Agreement is hereby amended by adding the following provision at the end thereof:
“(d)    The Borrower shall pay to Agent a fee (the “Delayed Draw Unused Commitment Fee”) for the ratable account of each 2020 DDTL Lender, in an amount equal to: (i) the 2020 DDTL 

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Commitment, multiplied by (ii) 0.50% per annum, provided that, if the Borrower permanently reduces the 2020 DDTL Commitments (the undrawn portion of the 2020 DDTL Commitments after giving effect to such reduction referred to as the “Reduced DDTL Commitments”), the fee payable by the Borrower to the Agent for the account of each 2020 DDTL Lender shall be in an amount equal to the sum of (A) up to (but excluding) the date of such reduction (i) the 2020 DDTL Commitment, multiplied by (ii) 0.50% per annum, and, (B) thereafter, until the DDTL Funding Date or the DDTL Expiration Date, as the case may be, (i) the Reduced DDTL Commitment, multiplied by (ii) 0.50% per annum. The Delayed Draw Unused Commitment Fee shall be payable on the earlier of (x) the DDTL Funding Date or (y) the DDTL Expiration Date, whether or not any funding of the 2020 Delayed Draw Term Loans shall occur. The Delayed Draw Unused Commitment Fee shall be computed on the basis of a 360-day year and actual days elapsed between the date hereof and the earlier of the (x) DDTL Funding Date or (y) DDTL Expiration Date.” 
ARTICLE IV.
REPRESENTATIONS AND WARRANTIES 
Section 4.01    The Credit Parties, jointly and severally, represent and warrant to Agent and each of the Lenders, including each of the 2020 DDTL Lenders, that the following are, and after giving effect to the 2020 Amendment Transactions will be, true, correct and complete on the Amendment No. 1 Effective Date: 
(a)    Representations and Warranties. The representations and warranties of each of the Credit Parties set forth in the Credit Agreement are true and correct in all material respects (or, in the case of any such representation or warranty already qualified by materiality, in all respects) on and as of the Amendment No. 1 Effective Date (or, in the case of any such representation or warranty expressly stated to have been made as of a specific date, as of such specific date).
(b)    Binding Effect. This Amendment has been, and each other Loan Document executed in connection with this Amendment, when delivered, will have been, duly executed and delivered by each Credit Party that is party thereto. This Amendment and the Amended Credit Agreement constitute, and each other Loan Document executed in connection with this Amendment when so delivered will constitute, a legal, valid and binding obligation of such Credit Party, enforceable against each Credit Party that is party thereto in accordance with its terms, subject (as to enforceability) to the effect of applicable bankruptcy, insolvency, reorganization, receivership, moratorium and other similar laws relating to or affecting creditors’ rights generally, and the effect of general principles of equity, whether applied by a court of law or equity.
ARTICLE V.
CONDITIONS
Section 5.01    Conditions to effectiveness. The effectiveness of this Amendment is subject to the satisfaction or waiver of the following conditions (the date that each of the conditions are satisfied or waived, the “Amendment No. 1 Effective Date”): 
(a)    Deliverables for Agent. Agent’s receipt of the following, each of which shall be originals, .pdf or facsimile copies or delivered by other electronic method (followed promptly 

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by originals) unless otherwise specified, each properly executed by a Responsible Officer of the signing Credit Party, each in form and substance reasonably satisfactory to Agent and its legal counsel:
		
	i.
	executed counterparts of this Amendment from each Credit Party, the Agent and each 2020 DDTL Lender;

		
	ii.
	customary certificates of resolutions or other action, incumbency certificates and/or other certificates of Responsible Officers of each Credit Party evidencing the identity, authority and capacity of each Responsible Officer thereof authorized to act as a Responsible Officer in connection with this Amendment and the other Loan Documents to which such Credit Party is a party on the DDTL Funding Date;

		
	iii.
	customary good standing certificates (or equivalent) for each Credit Party from the Secretary of State (or equivalent) of the state of organization of such Credit Party, including customary bring down good standings for each Credit Party; and 

		
	iv.
	 favorable written opinions addressed to the Lenders, including the 2020 DDTL Lenders, of (i) Kirkland & Ellis LLP, counsel to the Credit Parties, and (ii) McAfee & Taft, local Oklahoma counsel to the Credit Parties.

(b)    Fees and Expenses. All fees and expenses due to the Agent, the Amendment No. 1 Lead Arrangers and the 2020 DDTL Lenders on the Amendment No. 1 Effective Date shall have been paid, and all expenses to be paid or reimbursed to the Agent and the Amendment No. 1 Lead Arrangers that have been invoiced at least three (3) business days prior to the Amendment No. 1 Effective Date shall have been paid, including out-of-pocket expenses (including the legal fees and expenses of Latham & Watkins LLP, counsel to the Agent).
Section 5.02    Conditions to the 2020 Delayed Draw Term Loans. The obligations of the 2020 DDTL Lenders to make the 2020 Delayed Draw Term Loans hereunder and under the Amended Credit Agreement are subject to the satisfaction or waiver of the following conditions (the date that each of the conditions are satisfied or waived, the “DDTL Funding Date”): 
(a)    Deliverables for Agent. Agent’s receipt of the following, each of which shall be originals, .pdf or facsimile copies or delivered by other electronic method (followed promptly by originals) unless otherwise specified, each properly executed by a Responsible Officer of the signing Credit Party, each in form and substance reasonably satisfactory to Agent and its legal counsel:
		
	i.
	a Note executed by the Borrower in favor of each 2020 DDTL Lender that has requested a Note at least three (3) Business Days in advance of the DDTL Funding Date;

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US-DOCS\113406393.17

		
	ii.
	a certificate of a Responsible Officer of the Borrower in compliance with Section 1.1(e)(ii)(E) of the Amended Credit Agreement; and 

		
	iii.
	a Notice of Borrowing requesting the Borrowing of the 2020 Delayed Draw Term Loans in accordance with the requirements of Section 1.5 of the Amended Credit Agreement.

(b)    Representations and Warranties. (i) The Specified Acquisition Agreement Representations (as defined below) shall be true and correct in all material respects and (ii) the Specified Representations (as defined below) shall be true and correct in all material respects, in each case, except to the extent such Specified Acquisition Agreement Representation or Specified Representation (A) expressly relates to a given date or period, in which case such representation and warranty shall be true and correct in all material respects as of the respective date or for the respective period, as the case may be, or (B) is expressly required to be true and correct in all respects, in which case such Specified Representation or Specified Acquisition Agreement Representation shall be true and correct in all respects; provided that any “Material Adverse Effect” or “Material Adverse Change” qualification in any such Specified Acquisition Agreement Representation shall, for purposes of this condition, be deemed to refer to “Material Adverse Effect” (as defined in the Amendment No. 1 Acquisition Agreement).
“Specified Acquisition Agreement Representations” means such representations and warranties made by or with respect to Clearsight Intermediate Holdings, Inc. and its Subsidiaries in the Amendment No. 1 Acquisition Agreement as are material to the interests of the 2020 DDTL Lenders (in their capacities as such), but only to the extent that the Borrower (or its applicable Affiliates) have the right (taking into account any applicable cure provisions) to terminate its obligations under the Amendment No. 1 Agreement (or not consummate the Amendment No. 1 Acquisition pursuant to the Amendment No. 1 Acquisition Agreement) as a result of a breach of such representations and warranties in the Amendment No. 1 Acquisition Agreement or the breach of such representations results in a failure of a condition precedent to Borrower’s obligations to consummate the Amendment No. 1 Acquisition Agreement.
“Specified Representations” means the representations and warranties of each of the Credit Parties (for the avoidance of doubt, on the DDTL Funding Date, including Clearsight Intermediate Holdings, Inc. and its Subsidiaries, if applicable) set forth in Sections 3.1 (with respect to clause (b)(ii) thereof, as it relates to entering into Amendment No. 1), 3.2 (as it relates to entering into Amendment No. 1 and the consummation of the 2020 Amendment Transactions), 3.3 (with respect to clause (a) thereof, as it relates to entering into Amendment No. 1 and the consummation of the 2020 Amendment Transactions, and for purposes of all clauses thereof, excluding Clearsight Intermediate Holdings, Inc. and its Subsidiaries), 3.4 (with respect to the due execution, delivery and enforceability of Amendment No. 1),  3.12, 3.15, 3.18, and 3.19 of the Amended Credit Agreement.
(c)    Default. No Event of Default under Sections 7.1(a) 7.1(f) or 7.1(g) of the Amended Credit Agreement, shall exist immediately before or would exist immediately after giving effect to the 2020 Amendment Transactions. 

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(d)    Material Adverse Effect. Since the date of the Amendment No. 1 Acquisition Agreement, there shall not have been a Material Adverse Effect (as defined in the Amendment No. 1 Acquisition Agreement). 
(e)    KYC Information. With respect to the entities to be acquired pursuant to the Amendment No. 1 Acquisition, the Borrower and each of the Guarantors shall have provided, at least three (3) business days prior to the DDTL Funding Date, to the Agent, each of the Amendment No. 1 Lead Arrangers and the 2020 DDTL Lenders (i) all documentation and other information to the Agent that is required by regulatory authorities under applicable “know-your-customer” rules and regulations, including the Patriot Act, to the extent requested at least ten (10) business days prior to the DDTL Funding Date, and (ii) a certification regarding beneficial ownership as required by the Beneficial Ownership Regulation. 
(f)    Solvency Certificate. The Agent and each of the Amendment No. 1 Lead Arrangers shall have received a customary certificate attesting to the solvency of the Borrower and its subsidiaries (on a consolidated basis) after giving effect to the 2020 Amendment Transactions and the incurrence of indebtedness hereunder from the Borrower, signed by a chief financial officer or similar officer, in form substantially similar to that attached hereto as Exhibit A.
(g)    Fees and Expenses. All fees and expenses due to the Agent, the Amendment No. 1 Lead Arrangers and the 2020 DDTL Lenders on the DDTL Funding Date shall have been paid, and all expenses to be paid or reimbursed to the Agent and the Amendment No. 1 Lead Arrangers that have been invoiced at least three (3) business days prior to the DDTL Funding Date shall have been paid.
(h)    No outstanding indebtedness, Refinancing. After giving effect to the 2020 Amendment Transactions, Clearsight Intermediate Holdings, Inc. and its Subsidiaries shall have no outstanding indebtedness for borrowed money (in each case, excluding intercompany indebtedness, letters of credit, capital leases, purchase money indebtedness and equipment financings, customary contingent indemnification and reimbursement obligations, and unsecured or cash collateralized indebtedness owed in respect of corporate credit cards) or preferred stock other than (a) the loans and other extensions of credit under or permitted by the Amended Credit Agreement, including the 2020 Delayed Draw Term Loans, (b) preferred stock existing on the date hereof, (c) as permitted pursuant to the Amended Credit Agreement or the Amendment No. 1 Acquisition Agreement. The Agent shall have received reasonably satisfactory evidence of repayment of all indebtedness required to be repaid on the DDTL Funding Date and the discharge (or the making of arrangements for discharge) of all liens other than liens permitted to remain outstanding under this Amendment (the “Refinancing”), in each case, substantially concurrently with the Amendment No. 1 Acquisition. 
(i)    The Borrower shall have confirmed to the Agent that the Amendment No. 1 Acquisition shall have been, or shall concurrently with the funding of the 2020 DDTL Facility be, consummated in accordance in all material respects with the terms of the Amendment No. 1 Acquisition Agreement, but without giving effect to any amendment, waiver or other modification or consent that is materially adverse to the 2020 DDTL Lenders (in their capacities as such), unless consented to by the Amendment No. 1 Lead Arrangers (such consent not to be unreasonably 

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withheld, conditioned or delayed), it being understood that (w) any increase in the purchase price for the Amendment No. 1 Acquisition shall only be deemed to be materially adverse to the 2020 DDTL Lenders so long as such purchase price increase is funded with additional indebtedness for borrowed money or preferred stock or other “disqualified equity”, (x) any decrease in the purchase price for the Amendment No. 1 Acquisition (other than any post-closing adjustments to the DDTL Funding Date purchase price, in each case, pursuant to the express provisions of the draft Acquisition Agreement referred to above) shall be deemed to be materially adverse to the 2020 DDTL Lenders unless the 2020 DDTL Facility is reduced pro rata based on the percentage of the 2020 DDTL Facility comprising the purchase price for the Amendment No. 1 Acquisition; and (y) any modification, change, amendment, waiver or consent in respect of the definition of “Material Adverse Effect” shall be deemed to be materially adverse to the 2020 DDTL Lenders.
(j)    The Agent and the Amendment No. 1 Lead Arrangers shall have received: 
		
	i.
	If the DDTL Funding Date occurs after March 31, 2020, Clearsight Intermediate Holdings, Inc. and its Subsidiaries’ audited consolidated balance sheets and related statements of income, stockholders’ equity and cash flows as of and for the fiscal year ended December 31, 2019;

		
	ii.
	Clearsight Intermediate Holdings, Inc. and its Subsidiaries’ unaudited consolidated balance sheets and related statements of income, stockholders’ equity and cash flows as of and for each month ending after December 31, 2019, and at least 30 days prior to the DDTL Funding Date, which financials are prepared in accordance with GAAP (subject to the absence of footnotes and year-end adjustments); and 

		
	iii.
	If the DDTL Funding Date occurs after March 31, 2020, a pro forma consolidated balance sheet of the Borrower as of and for, December 31, 2019, prepared after giving effect to the 2020 Amendment Transactions as if the 2020 Amendment Transactions had occurred as of such date. 

Section 5.03    Effects of this Amendment.
(a)    Except as expressly set forth herein, this Amendment shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the rights and remedies of the Lenders or the Agent under the existing Credit Agreement or any other Loan Document, and shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the existing Credit Agreement or any other provision of the existing Credit Agreement or of any other Loan Document, all of which are ratified and affirmed in all respects and shall continue in full force and effect. This Amendment shall not constitute a novation of the Credit Agreement as in effect immediately prior to giving effect hereto or any of the Loan Documents. Except as expressly set forth herein, nothing herein shall be deemed to be a waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants 

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or agreements contained in the Credit Agreement or any other Loan Document in similar or different circumstances. 
(b)    From and after the Amendment No. 1 Effective Date, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof”, “herein”, or words of like import, and each reference to the “Credit Agreement” in any other Loan Document shall in each case be deemed a reference to the Amended Credit Agreement as amended hereby. This Amendment shall constitute a “Loan Document” for all purposes of the Credit Agreement and the other Loan Documents.
ARTICLE VI. 
CONDITIONS SUBSEQUENT
Section 6.01    Joinder. Within sixty (60) days of the DDTL Funding Date (or such longer period of time as the Agent may agree in its reasonable discretion), the Borrower shall cause, at its expense, any Subsidiary acquired on the DDTL Funding Date to become a Subsidiary Guarantor and grant security over its assets unless such Subsidiary would be an Excluded Subsidiary or an Unrestricted Subsidiary pursuant to the definitions thereof, in accordance with Section 4.10 of the Amended Credit Agreement.
ARTICLE VII.
ACKNOWLEDGMENTS OF 2020 DDTL LENDER
Section 7.01    Acknowledgement of 2020 DDTL Lender. Each 2020 DDTL Lender expressly acknowledges that neither the Agent nor its Affiliates nor any of its respective officers, directors, employees, agents or attorneys in fact have made any representations or warranties to it and that no act by the Agent or such other Person hereafter taken, including any review of the affairs of a Credit Party or any affiliate of a Credit Party, shall be deemed to constitute any representation or warranty by the Agent or any such other Person to such 2020 DDTL Lender. Each 2020 DDTL Lender represents to the Agent that it has, independently and without reliance upon the Agent or any other Lender, and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, operations, property, financial and other condition and creditworthiness of the Credit Parties and their Affiliates and made its own decision to provide its 2020 DDTL Commitment and 2020 Delayed Draw Term Loans hereunder and enter into this Amendment, the Amended Credit Agreement and to any other Loan Document to which such 2020 DDTL Lender shall become a party. Each 2020 DDTL Lender also represents that it will, independently and without reliance upon the Agent or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under the Amended Credit Agreement and the other Loan Documents, and to make such investigation as it deems necessary to inform itself as to the business, operations, property, financial and other condition and creditworthiness of the Credit Parties and their affiliates. Each 2020 DDTL Lender hereby (a) confirms that it has received a copy of the Amended Credit Agreement and each other Loan Document and such other documents (including financial statements) and information as it deems appropriate to make its decision to enter into this Amendment and the other Loan Documents to which such 2020 DDTL Lender shall be a party, (b) agrees that it shall be bound by the terms of the Amended Credit 

15
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Agreement and the other Loan Documents as a Lender thereunder and that it will perform in accordance with their terms all of the obligations which by the terms of such Loan Documents are required to be performed by it as a Lender and (c) irrevocably designates and appoints the Agent as the agent of such 2020 DDTL Lender under the Amended Credit Agreement and the other Loan Documents, and such 2020 DDTL Lender irrevocably authorizes the Agent, in such capacity, to take such action on its behalf under the provisions of the Amended Credit Agreement and the other Loan Documents and to exercise such powers and perform such duties as are delegated to the Agent by the terms of the Amended Credit Agreement and the other Loan Documents, together with such other powers as are reasonably incidental thereto.
ARTICLE VIII. 
REAFFIRMATION
Reaffirmation. By signing this Amendment, each Credit Party hereby confirms that (a) notwithstanding the effectiveness of this Amendment and the transactions contemplated hereby, the obligations of such Credit Parties under the Amended Credit Agreement (including with respect to the 2020 Delayed Draw Term Loans contemplated by this Amendment) and the other Loan Documents (i) are entitled to the benefits of the guarantees and the security interests set forth or created in the Amended Credit Agreement, the Security Agreement, the other Collateral Documents and the other Loan Documents, (ii) constitute “Guarantee Obligations” and “Obligations” for purposes of the Amended Credit Agreement, the Security Agreement, the other Collateral Documents and all other Loan Documents, (iii) each Guarantor hereby confirms and ratifies its continuing unconditional obligations as Guarantor under the Credit Agreement as amended hereby with respect to all of the Guarantee Obligations and (iv) each Loan Document to which such Credit Party is a party is, and shall continue to be, in full force and effect and is hereby ratified and confirmed in all respects and shall remain in full force and effect according to its terms (in the case of the Credit Agreement, as amended hereby) and (b) each 2020 DDTL Lender shall be a “Secured Party” and a “Lender” (including without limitation for purposes of the definition of “Required Lenders” contained in Section 11.1 of the Amended Credit Agreement) for all purposes of the Amended Credit Agreement and the other Loan Documents. Each Credit Party ratifies and confirms that all Liens granted, conveyed, or assigned to any Agent by such Person pursuant to any Loan Document to which it is a party remain in full force and effect, are not released or reduced, and continue to secure full payment and performance of the Obligations as increased hereby.
ARTICLE IX.
MISCELLANEOUS
Section 9.01    Entire Agreement. This Amendment, the Credit Agreement and the other Loan Documents constitute the entire agreement among the parties hereto with respect to the subject matter hereof and thereof and supersede all other prior agreements and understandings, both written and verbal, among the parties hereto with respect to the subject matter hereof. Except as expressly set forth herein, this Amendment shall not by implication or otherwise limit, impair, constitute a waiver of, or otherwise affect the rights and remedies of any party under, the Credit Agreement, nor alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement, all of which are ratified and affirmed in all respects 

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and shall continue in full force and effect. It is understood and agreed that each reference in each Loan Document to the Credit Agreement, whether direct or indirect, shall hereafter be deemed to be a reference to the Credit Agreement as amended hereby and that this Amendment is a Loan Document.
Section 9.02    Miscellaneous Provisions. The provisions of Sections 9.18 (Governing Law and Jurisdiction), 9.19 (Waiver of Jury Trial) and 9.26 (Acknowledgment and Consent to Bail-In of EEA Financial Institutions) of the Amended Credit Agreement are hereby incorporated by reference and apply mutatis mutandis hereto.
Section 9.03    Severability. If any provision of this Amendment is held to be illegal, invalid or unenforceable, the legality, validity and enforceability of the remaining provisions of this Amendment shall not be affected or impaired thereby. The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.
Section 9.04    Counterparts. This Amendment may be executed in any number of counterparts and by the different parties hereto on separate counterparts, each of which when so executed and delivered shall constitute an original, but all of which, when taken together, shall constitute one and the same instrument. A set of counterparts executed by all the parties hereto shall be lodged with the Borrower and the Agent.
Section 9.05    Headings. The headings of this Amendment are for purposes of reference only and shall not limit or otherwise affect the meaning hereof.
Section 9.06    Certain Tax Matters. The parties hereto agree to treat the 2020 Delayed Draw Term Loans to be issued pursuant to this Amendment as fungible for U.S. federal income tax purposes with the Initial Term Loans outstanding under the Credit Agreement immediately prior to the effectiveness of this Amendment.
Section 9.07    Surviving provisions. Section 8 (Survival of Obligations) of the Commitment Letter shall remain in full force and effect regardless of whether the Amendment No. 1 Effective Date occurs.
Section 9.08    Acknowledgment. Agent and the Borrower acknowledge that the amendments to the Credit Agreement contained in this Amendment are necessary or appropriate to effect the terms of the 2020 Delayed Draw Term Loans.
[Signature Pages Follow]

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered by their respective officers thereunto duly authorized as of the date first written above.
R1 RCM INC., as Borrower
By:    /s/ Richard Bauer Evans Jr.
Name: Richard Bauer Evans Jr. 
Title: Senior Vice President

[Signature page to Amendment No. 1 to Credit Agreement]

ADVANCED DATA PROCESSING, INC.
INTERMEDIX ANALYTICS, LLC
INTERMEDIX ARM, LLC
INTERMEDIX CORPORATION
INTERMEDIX HOLDINGS INC.
INTERMEDIX MIDCO INC.
INTERMEDIX OFFICE BASED, LLC
INTERMEDIX PHYSICIAN SERVICES, LLC
INTERMEDIX STAFFING, INC.
MED MEDIA, INC.
MEDICAL CONSULTANTS, INC.
PRACTICE SUPPORT RESOURCES, LLC
PROJECT LINKS PARENT, INC.
ROVER16, INC.
THE DEZONIA GROUP, INC., 
each as a Credit Party

By:    /s/ Richard Bauer Evans Jr.
Name: Richard Bauer Evans Jr. 
Title: Chief Financial Officer

[Signature page to Amendment No. 1 to Credit Agreement]

BANK OF AMERICA, N.A., as Agent
By:    /s/ Antonikia L. Thomas
Name: Antonikia L. Thomas 
Title: Senior Vice President

[Signature page to Amendment No. 1 to Credit Agreement]

BANK OF AMERICA, N.A., 
as a 2020 DDTL Lender and as a Lender
By:    /s/ Heath B. Lipson
Name: Heath B. Lipson
Title: Senior Vice President

[Signature page to Amendment No. 1 to Credit Agreement]

WELLS FARGO BANK, NATIONAL ASSOCIATION, 
as a 2020 DDTL Lender and as a Lender
By:    /s/ Jordan Harris
Name: Jordan Harris
Title: Managing Director

[Signature page to Amendment No. 1 to Credit Agreement]

JPMORGAN CHASE BANK, N.A., 
as a 2020 DDTL Lender and as a Lender
By:    /s/ Krys Szremski
Name: Krys Szremski
Title: Executive Director

[Signature page to Amendment No. 1 to Credit Agreement]

CAPITAL ONE, NATIONAL ASSOCIATION,
as a 2020 DDTL Lender and as a Lender
By:    /s/ Karen M. Dahlquist
Name: Karen M. Dahlquist
Title: Duly Authorized Signatory

[Signature page to Amendment No. 1 to Credit Agreement]

U.S. BANK NATIONAL ASSOCIATION,
as a 2020 DDTL Lender and as a Lender
By:    /s/ Geoffrey L. Billingsley
Name: Geoffrey L. Billingsley
Title: Vice President

[Signature page to Amendment No. 1 to Credit Agreement]

PNC BANK, NATIONAL ASSOCIATION, 
as a 2020 DDTL Lender and as a Lender
By:    /s/ Stephanie Gianakos
Name: Stephanie Gianakos
Title: Senior Vice President

[Signature page to Amendment No. 1 to Credit Agreement]

KEYBANK NATIONAL ASSOCIATION, 
as a 2020 DDTL Lender and as a Lender
By:    /s/ Tanille Ingle
Name: Tanille Ingle
Title: Assistant Vice President

[Signature page to Amendment No. 1 to Credit Agreement]

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