Document:

Exhibit 10.2

 

THIRD AMENDMENT TO CREDIT AGREEMENT

 

THIS THIRD AMENDMENT TO CREDIT AGREEMENT (this “Agreement”) is entered into as of August 1, 2018 among BOINGO WIRELESS, INC., a Delaware corporation (the “Company”), New York Telecom Partners, LLC, a Delaware limited liability company (“NY Telecom” and together with the Company, each a “Borrower” and collectively, the “Borrowers”), the Guarantors, the Lenders party hereto, the L/C Issuers party hereto, and BANK OF AMERICA, N.A., as Administrative Agent.  All capitalized terms used herein and not otherwise defined herein shall have the meanings given to such terms in the Credit Agreement (as defined below).

 

RECITALS

 

WHEREAS, the parties have entered into that certain Credit Agreement dated as of November 21, 2014 among the Borrowers, the Guarantors from time to time party thereto, the Lenders from time to time party thereto and Bank of America, N.A., as Administrative Agent, Swing Line Lender and an L/C Issuer (as amended or modified from time to time, the “Credit Agreement”); and

 

WHEREAS, the Borrowers have requested that the Lenders amend the Credit Agreement as set forth below.

 

NOW, THEREFORE, in consideration of the premises and the mutual covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

1.             Amendments.

 

(a)           The following definitions are hereby added to Section 1.01 of the Credit Agreement in the appropriate alphabetical order to read as follows:

 

“Beneficial Ownership Certification” means a certification regarding beneficial ownership required by the Beneficial Ownership Regulation.

 

“Beneficial Ownership Regulation” means 31 C.F.R. § 1010.230.

 

“Elauwit Acquisition” means the Acquisition by the Company or a Subsidiary of certain specified assets of Elauwit Networks, LLC, pursuant to, and as more particularly described in, the Elauwit Acquisition Agreement, in exchange for the “Purchase Price” defined in the Elauwit Acquisition Agreement.

 

“Elauwit Acquisition Agreement” means that certain Asset Purchase Agreement dated as of August 1, 2018, among the Company, Boingo MDU, LLC, a Delaware limited liability company, Elauwit Networks, LLC and certain affiliates of Elauwit Networks, LLC, together with all exhibits and schedules thereto.

 

“Elauwit Acquisition Documents” means the Elauwit Acquisition Agreement and all other agreements, instruments and documents executed and delivered in connection with the Elauwit Acquisition Agreement.

 

“Elauwit Earn Out Obligations” means all obligations of the Company or any Subsidiary to make the “Earnout Payments” (as defined in the Elauwit Acquisition Agreement).

 

 

“Elauwit Holdback” means the remaining payment obligations of the Company or any Subsidiary owed to “Seller” (as defined in the Elauwit Acquisition Agreement) pursuant to the Elauwit Acquisition Agreement in respect of the “Indemnification Holdback Amount” and “Consent Pro-Rata Amounts” (each as defined in the Elauwit Acquisition Agreement).

 

“Third Amendment Effective Date” means August 1, 2018.

 

(b)           Clause (e) of the definition of “Funded Indebtedness” in Section 1.01 of the Credit Agreement is hereby amended to read as follows:

 

(e)           all obligations in respect of the deferred purchase price of property or services (other than trade accounts payable in the ordinary course of business and, in each case, not past due for more than 90 days after the date on which such trade account payable was created (unless subject to a bona fide dispute)), including, without limitation, any Earn Out Obligations (including, for the avoidance of doubt, the Elauwit Earn Out Obligations);

 

(c)           The definition of “Letter of Credit Expiration Date” in Section 1.01 of the Credit Agreement is hereby amended to read as follows:

 

“Letter of Credit Expiration Date” means the day that is seven (7) days prior to the Maturity Date then in effect (or, if such day is not a Business Day, the next preceding Business Day).

 

(d)           The definition of “Permitted Acquisition” in Section 1.01 of the Credit Agreement is hereby amended to read as follows:

 

“Permitted Acquisitions” means Investments consisting of an Acquisition by any Loan Party; provided, that: (a) no Default shall have occurred and be continuing or would result from such Acquisition, (b) the property acquired (or the property of the Person acquired) in such Acquisition is used or useful in the same or a related line of business as the Company and its Subsidiaries were engaged in on the Closing Date (or any reasonable extensions or expansions thereof), (c) the Administrative Agent shall have received all items in respect of the Equity Interests or property acquired in such Acquisition required to be delivered by the terms of Section 7.12 and/or Section 7.14, (d) in the case of an Acquisition of the Equity Interests of another Person, the board of directors (or other comparable governing body) of such other Person shall have duly approved such Acquisition, (e) for any Acquisition other than the Elauwit Acquisition, the Company shall have delivered to the Administrative Agent a Pro Forma Compliance Certificate demonstrating that, upon giving Pro Forma Effect to such Acquisition, (i) the Loan Parties would be in compliance with the financial covenants set forth in Section 8.11(a) and (b) as of the most recent fiscal quarter end for which the Company was required to deliver financial statements pursuant to Section 7.01(a) or (b) and (ii) the Consolidated Leverage Ratio is at least 0.50 less than the ratio required to be maintained at such time by Section 8.11(a), (f) for any Acquisition other than the Elauwit Acquisition, the Company shall have delivered to the Administrative Agent pro forma financial statements for the Company and its Subsidiaries after giving effect to such Acquisition for the twelve month period ending as of the most recent fiscal quarter in a form satisfactory to the Administrative Agent, (g) the representations and warranties made by the Loan Parties in each Loan Document shall be true and correct in all respects 

 

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at and as if made as of the date of such Acquisition (after giving effect thereto) except to the extent such representations and warranties expressly relate to an earlier date in which case they shall be true and correct in all respects as of such earlier date and except that for purposes of this clause (g), the representations and warranties contained in subsections (a) and (b) of Section 6.05 shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 7.01, (h) if such transaction involves the purchase of an interest in a partnership between the Company (or a Subsidiary) as a general partner and entities unaffiliated with a Company or such Subsidiary as the other partners, such transaction shall be effected by having such equity interest acquired by a corporate holding company directly or indirectly wholly-owned by the Company newly formed for the sole purpose of effecting such transaction, (i) for any Acquisition other than the Elauwit Acquisition, immediately after giving effect to such Acquisition, the Loan Parties shall have at least $25,000,000 of Liquidity, (j) the aggregate cash and non-cash consideration (including any assumption of Indebtedness, deferred purchase price, any Earn Out Obligations and any equity consideration) paid by the Loan Parties for all such Acquisitions (other than the Elauwit Acquisition) occurring during any fiscal year shall not exceed $10,000,000 and (k) the aggregate cash and non-cash consideration (including any assumption of Indebtedness, deferred purchase price, any Earn Out Obligations and any equity consideration) paid by the Loan Parties for all such Acquisitions (other than the Elauwit Acquisition) occurring during the term of this Agreement shall not exceed $25,000,000.

 

(e)           Section 2.03(a)(ii)(B) of the Credit Agreement is hereby amended to read as follows:

 

(B)          the expiry date of such requested Letter of Credit would occur after the date that is 365 days after the Letter of Credit Expiration Date, unless all the Lenders have approved such expiry date.  For the avoidance of doubt, the parties hereto agree that the obligation of the Lenders to reimburse the applicable L/C Issuer for any Unreimbursed Amount with respect to any Letter of Credit shall terminate on the Maturity Date with respect to any drawings occurring after that date.

 

(f)            Section 2.03(b)(iii) of the Credit Agreement is hereby amended to read as follows:

 

(iii)          If the Company so requests in any applicable Letter of Credit Application, the applicable L/C Issuer may, in its sole discretion, agree to issue a Letter of Credit that has automatic extension provisions (each, an “Auto-Extension Letter of Credit”); provided that any such Auto-Extension Letter of Credit must permit such L/C Issuer to prevent any such extension at least once in each twelve-month period (commencing with the date of issuance of such Letter of Credit) by giving prior notice to the beneficiary thereof not later than a day (the “Non-Extension Notice Date”) in each such twelve-month period to be agreed upon at the time such Letter of Credit is issued.  Unless otherwise directed by the applicable L/C Issuer, the Company shall not be required to make a specific request to such L/C Issuer for any such extension.  Once an Auto-Extension Letter of Credit has been issued, the Lenders shall be deemed to have authorized (but may not require) the applicable L/C Issuer to permit the extension of such Letter of Credit at any time to an expiry date not later than the date that is 365 days after the Letter of Credit Expiration Date; provided, however, that such L/C Issuer shall not permit any such extension if (A) such L/C Issuer has determined that it would not be permitted, or would have no obligation, at such time to issue such Letter of Credit in its 

 

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revised form (as extended) under the terms hereof (by reason of the provisions of clause (ii) or (iii) of Section 2.03(a) or otherwise), or (B) it has received notice (which may be by telephone or in writing) on or before the day that is five (5) Business Days before the Non-Extension Notice Date (1) from the Administrative Agent that the Required Lenders have elected not to permit such extension or (2) from the Administrative Agent, any Lender or the Company  that one or more of the applicable conditions specified in Section 5.02 is not then satisfied, and in each case directing such L/C Issuer not to permit such extension.

 

(g)           Section 6.15 of the Credit Agreement is hereby amended by adding the following text at the end thereof:

 

As of the Third Amendment Effective Date, the information included in any Beneficial Ownership Certification is true and correct in all respects.

 

(h)           Section 7.02 of the Credit Agreement is hereby amended by removing the word “and” at the end of subsection (k), replacing the “.” at the end of subsection (l) with the words “; and” and adding the following subsection (m):

 

(m)          promptly following any request therefor, information and documentation reasonably requested by the Administrative Agent or any Lender for purposes of compliance with applicable “know your customer” requirements under the PATRIOT Act, the Beneficial Ownership Regulation or other applicable anti-money laundering laws.

 

(i)            Section 8.03(j) of the Credit Agreement is hereby amended to read as follows:

 

(j)            (i) Earn Out Obligations incurred in connection with the consummation of any Permitted Acquisition (other than the Elauwit Acquisition); provided, that, (A) such Earn Out Obligations are not secured by any Lien on any Collateral, (B) the aggregate amount that could be required to be paid in connection with all such Earn Out Obligations in existence at any one time (assuming satisfaction of all payment criteria in connection therewith to the maximum extent) shall not exceed $5,000,000 and (C) for the avoidance of doubt, each such Earn Out Obligation must comply with clauses (j) and (k) of the definition of “Permitted Acquisitions” in Section 1.01 hereof, (ii) Elauwit Earn Out Obligations; provided, that, (A) such Earn Out Obligations are not secured by any Lien on any Collateral and (B) the aggregate amount that could be required to be paid in connection with all such Earn Out Obligations shall not exceed $15,000,000, and (iii) the Elauwit Holdback.

 

(j)            A new clause (d) is hereby added to Section 8.13 of the Credit Agreement to read as follows:

 

(d)           Amend or modify any of the terms of the Elauwit Acquisition Documents in any manner that is adverse to any Loan Party or Subsidiary or the Lenders, without the prior written consent of the Administrative Agent.

 

2.             Conditions Precedent.  This Agreement shall be effective upon:

 

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(a)           receipt by the Administrative Agent of counterparts of this Agreement duly executed by (i) a Responsible Officer of each Loan Party, (ii) each Lender, (iii) each L/C Issuer and (iv) the Administrative Agent;

 

(b)           (i) upon the reasonable request of any Lender made at least five days prior to the date hereof, receipt by such Lender of the documentation and other information so requested in connection with applicable “know your customer” and anti-money-laundering rules and regulations, including the PATRIOT Act, in each case at least five days prior to the date hereof; and (ii) upon the request of any Lender made at least five days prior to the date hereof, if any Borrower qualifies as a “legal entity customer” under the Beneficial Ownership Regulation, receipt by the Administrative Agent of a Beneficial Ownership Certification in relation to such Borrower; and

 

(c)           receipt by the Administrative Agent of all reasonable out-of-pocket costs and expenses of the Administrative Agent (including reasonable fees and expenses of its legal counsel) in connection with this Agreement to the extent invoiced as of the date hereof (paid directly to such counsel if requested by the Administrative Agent), without prejudice to a final settling of accounts between the Administrative Agent and the Loan Parties.

 

3.             Miscellaneous.

 

(a)           The Credit Agreement (as amended hereby) and the obligations of the Loan Parties thereunder and under the other Loan Documents are hereby ratified and confirmed and shall remain in full force and effect according to their terms.  This Agreement shall not be deemed or construed to be a satisfaction, reinstatement, novation or release of any Loan Document or a waiver by the Administrative Agent or any Lender of any rights and remedies under the Loan Documents, at law or in equity.

 

(b)           Each Guarantor (i) acknowledges and consents to all of the terms and conditions of this Agreement, (ii) affirms all of its obligations under the Loan Documents and (iii) agrees that this Agreement and all documents executed in connection herewith do not operate to reduce or discharge its obligations under the Credit Agreement or the other Loan Documents.

 

(c)           The Borrowers and the Guarantors hereby represent and warrant to the Administrative Agent and the Lenders as follows:

 

(i)            Each of the Borrowers and the Guarantors has taken all necessary corporate or other organizational action to authorize the execution, delivery and performance of this Agreement.  This Agreement and the execution, delivery and performance hereof by the Borrowers and the Guarantors do not contravene the terms of any such Person’s Organization Documents or conflict with or result in any breach or contravention of any law, agreement or obligation by which the Borrowers or any Guarantor is bound.

 

(ii)           This Agreement has been duly executed and delivered by each of the Borrowers and the Guarantors and constitutes a legal, valid and binding obligation of each of the Borrowers and the Guarantors, enforceable against each such Person in accordance with its terms, subject to the effect of any applicable bankruptcy, insolvency or other similar laws affecting creditors’ rights generally or by principles of equity pertaining to the availability of equitable remedies.

 

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(iii)          No approval, consent, exemption, authorization or other action by, or notice to, or filing with, any Governmental Authority or any other Person is necessary or required in connection with the execution, delivery or performance by any Loan Party of this Agreement, other than those that have already been obtained and are in full force and effect.

 

(d)           The Borrowers and the Guarantors represent and warrant to the Administrative Agent and the Lenders that (i) after giving effect to this Agreement, the representations and warranties of the Borrowers and each other Loan Party contained in Article VI of the Credit Agreement or any other Loan Document, or which are contained in any document furnished at any time under or in connection therewith, are true and correct in all respects on and as of the date hereof, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct in all respects as of such earlier date, and except that for purposes of this Section 3(d)(i), the representations and warranties contained in clauses (a) and (b) of Section 6.05 of the Credit Agreement shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 7.01 of the Credit Agreement, and (ii) after giving effect to this Agreement, no Default has occurred and is continuing.

 

(e)           This Agreement shall constitute a Loan Document for all purposes. This Agreement may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract.  Delivery of an executed counterpart of a signature page of this Agreement by facsimile or other electronic imaging means (e.g. “pdf” or “tif”) shall be effective as delivery of a manually executed counterpart of this Agreement.  This Agreement constitutes the entire contract among the parties relating to the subject matter hereof and supersedes any and all previous agreements and understandings, oral or written, relating to the subject matter hereof.  This Agreement will inure to the benefit of and bind the respective successors and permitted assigns of the parties hereto.

 

(f)            THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.  THE TERMS OF SECTIONS 11.14 AND 11.15 OF THE CREDIT AGREEMENT ARE INCORPORATED HEREIN BY REFERENCE, MUTATIS MUTANDIS.

 

(g)           This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.

 

(h)           If any provision of this Agreement is held to be illegal, invalid or unenforceable, (i) the legality, validity and enforceability of the remaining provisions of this Agreement shall not be affected or impaired thereby and (ii) the parties shall endeavor in good faith negotiations to replace the illegal, invalid or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the illegal, invalid or unenforceable provisions.  The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

 

[SIGNATURE PAGES FOLLOW]

 

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

 

	
BORROWERS:
    	
BOINGO   WIRELESS, INC.,
    
	
 
    	
a   Delaware corporation
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Peter Hovenier
    
	
 
    	
Name:   Peter Hovenier
    
	
 
    	
Title:   Chief Financial Officer, Secretary
    
	
 
    	
 
    
	
 
    	
NEW   YORK TELECOM PARTNERS, LLC,
    
	
 
    	
a   Delaware limited liability company
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Peter Hovenier
    
	
 
    	
Name:   Peter Hovenier
    
	
 
    	
Title:   Chief Financial Officer
    
	
 
    	
 
    
	
 
    	
 
    
	
GUARANTORS:
    	
ADVANCED WIRELESS GROUP,   LLC,
    
	
 
    	
a Florida limited   liability company
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Peter Hovenier
    
	
 
    	
Name:   Peter Hovenier
    
	
 
    	
Title:   Manager
    
	
 
    	
 
    
	
 
    	
BOINGO BROADBAND LLC,
    
	
 
    	
a Delaware limited   liability company
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Peter Hovenier
    
	
 
    	
Name:   Peter Hovenier
    
	
 
    	
Title:   Chief Financial Officer, Treasurer, and Secretary
    
	
 
    	
 
    
	
 
    	
CHICAGO CONCOURSE   DEVELOPMENT GROUP, LLC,
    
	
 
    	
a Delaware limited   liability company
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Peter Hovenier
    
	
 
    	
Name:   Peter Hovenier
    
	
 
    	
Title:   Manager
    

 

BOINGO WIRELESS, INC.

SECOND AMENDMENT TO CREDIT AGREEMENT

 

 

	
 
    	
CONCOURSE   COMMUNICATIONS BALTIMORE, LLC,
    
	
 
    	
a Delaware limited   liability company
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Peter Hovenier
    
	
 
    	
Name:   Peter Hovenier
    
	
 
    	
Title:   Chief Financial Officer, Treasurer, and Secretary
    
	
 
    	
 
    
	
 
    	
CONCOURSE   COMMUNICATIONS CANADA, INC.,
    
	
 
    	
a Delaware corporation
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Peter Hovenier
    
	
 
    	
Name:   Peter Hovenier
    
	
 
    	
Title:   Treasurer and Secretary
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
CONCOURSE   COMMUNICATIONS GROUP, LLC,
    
	
 
    	
a Delaware limited   liability company
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Peter Hovenier
    
	
 
    	
Name:   Peter Hovenier
    
	
 
    	
Title:   Manager
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
CONCOURSE   COMMUNICATIONS ILLINOIS, LLC,
    
	
 
    	
an Illinois limited   liability company
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Peter Hovenier
    
	
 
    	
Name:   Peter Hovenier
    
	
 
    	
Title:   Chief Financial Officer, Treasurer, and Secretary
    
	
 
    	
 
    
	
 
    	
CONCOURSE   COMMUNICATIONS MINNESOTA, LLC,
    
	
 
    	
a Delaware limited   liability company
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Peter Hovenier
    
	
 
    	
Name:   Peter Hovenier
    
	
 
    	
Title:   Chief Financial Officer, Treasurer, and Secretary
    
	
 
    	
 
    
	
 
    	
CONCOURSE   COMMUNICATIONS NASHVILLE, LLC,
    
	
 
    	
an Illinois limited   liability company
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Peter Hovenier
    
	
 
    	
Name:   Peter Hovenier
    
	
 
    	
Title:   Chief Financial Officer, Treasurer, and Secretary
    

 

BOINGO WIRELESS, INC.

SECOND AMENDMENT TO CREDIT AGREEMENT

 

 

	
 
    	
CONCOURSE   COMMUNICATIONS OTTAWA, LLC,
    
	
 
    	
an Illinois limited   liability company
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Peter Hovenier
    
	
 
    	
Name:   Peter Hovenier
    
	
 
    	
Title:   Chief Financial Officer, Treasurer, and Secretary
    
	
 
    	
 
    
	
 
    	
CONCOURSE   COMMUNICATIONS SSP, LLC,
    
	
 
    	
a Delaware limited   liability company
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Peter Hovenier
    
	
 
    	
Name:   Peter Hovenier
    
	
 
    	
Title:   Chief Financial Officer, Treasurer, and Secretary
    
	
 
    	
 
    
	
 
    	
CONCOURSE   COMMUNICATIONS ST. LOUIS, LLC,
    
	
 
    	
a Delaware limited   liability company
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Peter Hovenier
    
	
 
    	
Name:   Peter Hovenier
    
	
 
    	
Title:   Chief Financial Officer, Treasurer, and Secretary
    
	
 
    	
 
    
	
 
    	
CONCOURSE HOLDING CO.,   LLC,
    
	
 
    	
a Delaware limited   liability company
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Peter Hovenier
    
	
 
    	
Name:   Peter Hovenier
    
	
 
    	
Title:   Manager
    
	
 
    	
 
    
	
 
    	
ELECTRONIC MEDIA   SYSTEMS, INC.,
    
	
 
    	
a Florida corporation
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Peter Hovenier
    
	
 
    	
Name:   Peter Hovenier
    
	
 
    	
Title:   Treasurer and Secretary
    
	
 
    	
 
    
	
 
    	
ENDEKA GROUP, INC.,
    
	
 
    	
a California   corporation
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Peter Hovenier
    
	
 
    	
Name:   Peter Hovenier
    
	
 
    	
Title:   Chief Financial Officer, Treasurer, and Secretary
    

 

BOINGO WIRELESS, INC.

SECOND AMENDMENT TO CREDIT AGREEMENT

 

 

	
 
    	
INGATE HOLDING, LLC,
    
	
 
    	
an Illinois limited   liability company
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Peter Hovenier
    
	
 
    	
Name:   Peter Hovenier
    
	
 
    	
Title:   Chief Financial Officer, Treasurer, and Secretary
    
	
 
    	
 
    
	
 
    	
INGATE TECHNOLOGIES,   LLC,
    
	
 
    	
a Delaware limited   liability company
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Peter Hovenier
    
	
 
    	
Name:   Peter Hovenier
    
	
 
    	
Title:   Chief Financial Officer, Treasurer, and Secretary
    
	
 
    	
 
    
	
 
    	
OPTI-FI NETWORKS, LLC,
    
	
 
    	
a Delaware limited   liability company
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Peter Hovenier
    
	
 
    	
Name:   Peter Hovenier
    
	
 
    	
Title:   Chief Financial Officer, Treasurer, and Secretary
    
	
 
    	
 
    
	
 
    	
TEGO   COMMUNICATIONS, INC.,
    
	
 
    	
a Delaware corporation
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Peter Hovenier
    
	
 
    	
Name:   Peter Hovenier
    
	
 
    	
Title:   Treasurer and Secretary
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
BOINGO LLC,
    
	
 
    	
a Delaware limited   liability company
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Peter Hovenier
    
	
 
    	
Name:   Peter Hovenier
    
	
 
    	
Title:   Manager
    

 

BOINGO WIRELESS, INC.

SECOND AMENDMENT TO CREDIT AGREEMENT

 

 

	
ADMINISTRATIVE
    	
 
    
	
AGENT:
    	
BANK   OF AMERICA, N.A.,
    
	
 
    	
as   Administrative Agent
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Melissa Mullis
    
	
 
    	
Name:   Melissa Mullis
    
	
 
    	
Title:   Assistant Vice President
    

 

BOINGO WIRELESS, INC.

SECOND AMENDMENT TO CREDIT AGREEMENT

 

 

	
LENDERS:
    	
BANK   OF AMERICA, N.A.,
    
	
 
    	
as   a Lender, Swing Line Lender and an L/C Issuer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Sophia Chen
    
	
 
    	
Name:   Sophia Chen
    
	
 
    	
Title:   Vice President
    

 

BOINGO WIRELESS, INC.

SECOND AMENDMENT TO CREDIT AGREEMENT

 

 

	
 
    	
SILICON   VALLEY BANK,
    
	
 
    	
as   a Lender and an L/C Issuer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Ashley Fairon
    
	
 
    	
Name:   Ashley Fairon
    
	
 
    	
Title:   Vice President
    

 

BOINGO WIRELESS, INC.

SECOND AMENDMENT TO CREDIT AGREEMENT

 

 

	
 
    	
CITIZENS   BANK, N.A.,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Andrew J. Meara
    
	
 
    	
Name:   Andrew J. Meara
    
	
 
    	
Title:   Senior Vice President
    

 

BOINGO WIRELESS, INC.

SECOND AMENDMENT TO CREDIT AGREEMENTExhibit 10.1

 

As adopted by the Board on

May 1, 2018

 

 

NON-AFFILIATED DIRECTOR COMPENSATION PROGRAM

AND

STOCK OWNERSHIP GUIDELINES

 

	
 

Non-Affiliated Director
    	
 
    	
 

For purposes of this program, a “Non-Affiliated Director” is any   director of the Company that is not also an employee of the Company or any of   its subsidiaries.

 
    
	
 

Cash Compensation
    	
 
    	
 

Annual Retainers

·            Board   Member

$90,000

·            Chair   of the Board

$150,000

·            Lead   Independent Director

$50,000

·            Chair   of the Audit Committee

$40,000

·            Chair   of the Compensation Committee

$40,000

·            Chair   of the Nominating and Corporate Governance Committee

$30,000

·            Audit   Committee Member (other than the Chair)

$11,000

·            Compensation   Committee Member (other than the Chair)

$5,500

·            Nominating   and Corporate Governance Committee Member (other than the Chair)

$5,500

 

Special   Assignment Fees

·                 Per day for special assignments   required in connection with board duties (including, without limitation, litigation-related   matters, but excluding days on which a director is required to travel to   attend meetings)

$5,500

 

Payment   Terms

·            All   cash retainers will generally be paid in arrears in equal quarterly   installments no later than the 60th day following   the last date of the applicable quarter; provided, however, that in no event shall fees be paid later than   the date that is 21⁄2 months following the last date of the Company’s fiscal   year for which the retainer relates.

 

·            Special   Assignment Fees will generally be paid in arrears in equal quarterly   installments no later than the 60th day following   the last date of the applicable quarter; provided, however, that in no event shall fees be paid later than   the date that is 21⁄2 months following the last date of the Company’s fiscal   year for which the retainer relates.

 
    

 

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·            Fees will be prorated for partial years   of service, with partial months of service credited for full months.

 
    
	
 

Restricted Stock Units
    	
 
    	
 

New   Appointment/Election RSU Grant

·                                         Each newly elected or appointed   Non-Affiliated Director will receive a grant of RSUs with a grant date value   of $250,000 (the exact number of RSUs to be determined by dividing $250,000   by the NASDAQ Official Closing Price of the Company’s stock on the date of   grant) upon initial election or appointment to the Board.  If a Non-Affiliated Director is newly   elected or appointed at any time other than at the Board meeting immediately   following the annual meeting of shareholders, then the $250,000 grant date   value will be pro-rated by reference to the expected amount of time from the   date of such appointment or election until the Company’s next annual meeting   of stockholders.

 

Annual   RSU Grant

·            Each   Non-Affiliated Director will receive an annual grant of RSUs with a grant   date value of $250,000 (the exact number of RSUs to be determined by dividing   $250,000 by the NASDAQ Official Closing Price of the Company’s stock on the   date of grant) upon re-election to the Board.

 

Grant   Date

·            RSU   grants will be approved by the Board promptly following election, appointment   or re-election to the Board and will be made three business days following   the date of the Board’s approval of such grant.

 

Vesting

·            All   RSUs will vest ratably on a quarterly basis over the one-year period from the   date of grant.

 

·            A   director must be in continuous active service on each applicable vesting   date.

 

·            Vesting   will accelerate on the date of a director’s cessation of service due to death   or Disability.

 

Change   of Control

·            In   the event that the director ceases to serve as a member of the Board of   Directors pursuant to the terms of any business combination or similar   transaction involving the Company, the RSUs will immediately vest as of the   date on which the business combination or similar transaction is consummated.

 

Dividend   Equivalents

·            The   RSUs will not be entitled to receive any payment, payment-in-kind or any   equivalent with regard to any cash or other dividends that are declared and   paid on the Company’s common stock.

 

Award   Agreement

·   RSUs will be granted pursuant to the   Company’s 2014 Incentive Plan and will be subject to the terms of the   applicable Non-Affiliated Director stock RSU agreement as in effect at the   time of grant.

 
    

 

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Expenses
    	
 
    	
 

Directors receive   reimbursement of business and travel expenses from time to time in accordance   with Company policy.

 
    
	
 

Other Benefits
    	
 
    	
 

As determined by the   Board from time-to-time.

 
    
	
 

Affiliated Directors
    	
 
    	
 

Directors who are   employees of the Company or any of its subsidiaries will not be entitled to   compensation as a director.

 
    
	
 

Plan Administration
    	
 
    	
 

The human resources and   the legal departments will administer the Non-Affiliated Directors’   compensation program.

 
    
	
 

Non-Affiliated Director Stock   Ownership Guidelines
    	
 
    	
 

·                                   Each Non-Affiliated Director is   required, within four years following his or her first election to the Board,   to beneficially own (within the meaning of Rule 13d-3 promulgated under   the Securities Exchange Act of 1934, as amended) shares of the Company’s   common stock (including any restricted shares of common stock or restricted   share units payable in shares of the Company’s common stock) having an   aggregate value at least equal to five times the amount of the annual cash   Board retainer that we then pay such director for regular service on the   Board.

 

·                                   For purposes of determining compliance   with the share ownership guidelines, the aggregate value of the shares owned   by the director is  calculated as of   January 2nd of each applicable year (or if such date is not a trading   date, the next trading date) based on the higher of:

 

o               the NASDAQ Official Closing Price of the Company’s   common stock on that day; and

 

o               the NASDAQ Official Closing Price of the Company’s   common stock on the date of grant (or if such date is not a trading date, the   next trading date), for any shares awarded to the director by the Company,   and the actual cost to the director, for any other shares (e.g., with respect   to shares acquired through the exercise of stock options, the exercise   price).

 

·                                   Non-Affiliated Directors are subject to   these guidelines for as long as they continue to serve on the Board.

 
    

 

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