Document:

EX-10.3

 Exhibit 10.3 

EXECUTION VERSION 
 THIRD
AMENDED AND RESTATED GUARANTY AGREEMENT 
 This THIRD AMENDED AND RESTATED GUARANTY AGREEMENT, dated as of September 18, 2020 (this
“Guaranty Agreement”), is made by and among the Parent Borrower (as defined below), each of the undersigned Subsidiary Loan Parties, any Subsidiary Loan Party hereafter added as a Guarantor (as defined below) and the Agent (as
defined below). 
 WHEREAS, DARLING INGREDIENTS INC., a Delaware corporation (the “Parent Borrower”), has entered into that
certain Second Amended and Restated Credit Agreement dated January 6, 2014, among the Parent Borrower, the other Borrowers party thereto, the lenders from time to time party thereto, JPMORGAN CHASE BANK, N.A., as the administrative agent and
the other agents party thereto (as amended, restated, amended and restated, supplemented or otherwise modified prior to the date hereof, the “Existing Credit Agreement”) and in connection therewith certain of its Subsidiaries, from
time to time prior to the date hereof, entered into that certain Second Amended and Restated Guaranty Agreement dated January 6, 2014, by the Subsidiary Loan Parties (as defined immediately prior to the effectiveness of the Sixth Amendment (as
defined below) and this Guaranty Agreement, the “Existing Guarantors”) party thereto (as amended, restated, amended and restated, supplemented or otherwise modified prior to the date hereof, the “Existing Guaranty
Agreement”); 
 WHEREAS, the Parent Borrower and the other applicable parties thereto have agreed to amend the Existing Credit
Agreement, and in connection therewith enter into that certain Sixth Amendment to the Second Amended and Restated Credit Agreement dated the date hereof (the “Sixth Amendment”), among the Parent Borrower, the other Borrowers party
thereto, the lenders from time to time party thereto (the “Lenders”), JPMORGAN CHASE BANK, N.A., as the administrative agent (the “Agent”) and the other agents party thereto (as amended by the Sixth Amendment, and
as may be further amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”; capitalized terms used herein but not otherwise defined herein shall have the same meaning
assigned to such terms in the Credit Agreement); 
 WHEREAS, in connection with the Sixth Amendment, the Parent Borrower, the Agent and the
Subsidiary Loan Parties party hereto have agreed to amend and restate the Existing Guaranty Agreement as set forth herein (it being understood that any Existing Guarantor that is not party to this Guaranty Agreement shall be released from its
guarantee hereunder upon effectiveness of this Guaranty Agreement in accordance with Section 27 hereof); 
 NOW,
THEREFORE, for valuable consideration, the receipt and adequacy of which are hereby acknowledged, each of the undersigned Parent Borrower and the Subsidiary Loan Parties and any Subsidiary Loan Party hereafter added as a “Guarantor” hereto
pursuant to (a) in the case of Domestic Subsidiaries, a Subsidiary Joinder Agreement substantially in the form attached as Exhibit B to the Security Agreement and (b) in the case of Specified Foreign Subsidiaries or Specified Canadian
Subsidiaries, a Subsidiary Joinder Agreement substantially in the form attached as Exhibit A hereto (each such agreement referred to under clause (a) or (b), a “Subsidiary Joinder Agreement” and each such Parent
Borrower or Subsidiary Loan Party party to a Subsidiary Joinder Agreement, individually a “Guarantor” and collectively the “Guarantors”), hereby irrevocably and unconditionally guarantees to the Secured Parties (the
“Guaranteed Secured Parties”), the full and prompt payment and performance of the Guaranteed Indebtedness (hereinafter defined), this Guaranty Agreement hereby amending and restating the Existing Guaranty Agreement upon the terms
set forth herein: 
 1. The term “Guaranteed Indebtedness”, as used herein, means all of the Obligations, as defined in the
Credit Agreement and the other Loan Documents. The “Guaranteed Indebtedness” shall include (a) any increases, extensions and rearrangements of the Obligations under any amendments, 

 
restatements, amendment and restatements, supplements or other modifications of the documents and agreements creating the Obligations and (b) any and all
post-petition interest and expenses (including attorneys’ fees in accordance with the terms and conditions of the Credit Agreement) arising in connection with any proceeding under any bankruptcy,
insolvency, or other similar law whether or not allowed in such proceeding; provided that the Guaranteed Indebtedness shall be limited, with respect to each Guarantor, to an aggregate amount equal to the largest amount that would not render
such Guarantor’s obligations hereunder subject to avoidance under Section 544 or 548 of the United States Bankruptcy Code or under any applicable state or local law relating to fraudulent transfers or conveyances or under other local law
limitations set forth in any applicable Subsidiary Joinder Agreement; provided further that notwithstanding anything herein to the contrary, with respect to any Foreign Subsidiary Loan Party (i) “Guaranteed Indebtedness”
shall only mean the Foreign Obligations and with respect to clauses (a) and (b) above, shall only include such amounts as they relate to the Foreign Obligations and (ii) notwithstanding any other provision of this Guaranty
Agreement to the contrary, the Guaranteed Indebtedness and any guarantee of Obligations or Foreign Obligations shall be subject to the limitations set out in Section 9 of this Guaranty Agreement or any other limitations as
reasonably agreed by the Agent and such Foreign Subsidiary Loan Party in accordance with the Agreed Security Principles and set forth in any applicable Subsidiary Joinder Agreement; provided, further, that for purposes of determining
any guarantee obligations of any Guarantor under this Guaranty Agreement, the definition of “Obligations” (and for the avoidance of doubt “Foreign Obligations”) shall not create any guarantee by any Guarantor of any Excluded Swap
Obligations (as defined below) of such Guarantor. As used herein, the following terms have the following meanings: 
 “Commodity
Exchange Act” means the Commodity Exchange Act (7 U.S.C. § 1 et seq.), as amended from time to time, and any successor statute. 

“Excluded Swap Obligation” means, with respect to any Guarantor, (a) any Swap Obligation if, and to the extent that, and
only for so long as, all or a portion of the guarantee by such Guarantor of, or the grant by such Guarantor of a security interest to secure, as applicable, such Swap Obligation (or any guarantee thereof) is or becomes illegal under the Commodity
Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of such Guarantor’s failure to constitute an “eligible contract
participant,” as defined in the Commodity Exchange Act and the regulations thereunder, at the time the guarantee of (or grant of such security interest by, as applicable) such Guarantor becomes or would become effective with respect to such
Swap Obligation or (b) any other Swap Obligation designated as an “Excluded Swap Obligation” of such Guarantor as specified in any agreement between the relevant Loan Parties and counterparty applicable to such Swap Obligations, and
agreed by the Agent. If a Swap Obligation arises under a master agreement governing more than one Swap, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to Swaps for which such guarantee or security
interest is or becomes illegal. 
 “Qualified Keepwell Provider” means, in respect of any Swap Obligation, each Loan Party
that, at the time the relevant guarantee (or grant of the relevant security interest, as applicable) becomes effective with respect to such Swap Obligation, has total assets exceeding $10,000,000 or otherwise constitutes an “eligible contract
participant” under the Commodity Exchange Act or any regulations promulgated thereunder and can cause another person to qualify as an “eligible contract participant” with respect to such Swap Obligation at such time by entering into a
keepwell or guarantee pursuant to Section 1a(18)(A)(v)(II) of the Commodity Exchange Act. 
 “Swap” means any
agreement, contract, or transaction that constitutes a “swap” within the meaning of section 1a(47) of the Commodity Exchange Act. 

  
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2 

 “Swap Obligation” means, with respect to any Person, any obligation to pay
or perform under any Swap. 
 2. The Guarantors together desire to allocate among themselves (collectively, the “Contributing
Guarantors”), in a fair and equitable manner, their obligations arising under this Guaranty Agreement. Accordingly, in the event any payment or distribution is made by a Guarantor under this Guaranty Agreement (a “Funding
Guarantor”) that exceeds its Fair Share (as defined below), that Funding Guarantor shall be entitled to a contribution from each of the other Contributing Guarantors in the amount of such other Contributing Guarantor’s Fair Share
Shortfall (as defined below), with the result that all such contributions will cause each Contributing Guarantor’s Aggregate Payments (as defined below) to equal its Fair Share. “Fair Share” means, with respect to a
Contributing Guarantor as of any date of determination, an amount equal to (a) the ratio of (i) the Adjusted Maximum Amount (as defined below) with respect to such Contributing Guarantor to (ii) the aggregate of the Adjusted Maximum
Amounts with respect to all Contributing Guarantors, multiplied by (b) the aggregate amount paid or distributed on or before such date by all Funding Guarantors under this Guaranty Agreement in respect of the obligations
guarantied, as applicable. “Fair Share Shortfall” means, with respect to a Contributing Guarantor as of any date of determination, the excess, if any, of the Fair Share of such Contributing Guarantor over the Aggregate Payments of
such Contributing Guarantor. “Adjusted Maximum Amount” means, with respect to a Contributing Guarantor as of any date of determination, the maximum aggregate amount of the obligations of such Contributing Guarantor under this
Guaranty Agreement determined in accordance with the provisions hereof; provided that, solely for purposes of calculating the “Adjusted Maximum Amount” with respect to any Contributing Guarantor for purposes of this
paragraph 2, the assets or liabilities arising by virtue of any rights to or obligations of contribution hereunder shall not be considered as assets or liabilities of such Contributing Guarantor. “Aggregate
Payments” means, with respect to a Contributing Guarantor as of any date of determination, the aggregate amount of all payments and distributions made on or before such date by such Contributing Guarantor in respect of this Guaranty
Agreement (including, without limitation, in respect of this paragraph 2). The amounts payable as contributions hereunder shall be determined as of the date on which the related payment or distribution is made by the
applicable Funding Guarantor. The allocation among Contributing Guarantors of their obligations as set forth in this paragraph 2 shall not be construed in any way to limit the liability of any Contributing Guarantor
hereunder. 
 3. This instrument shall be an absolute, continuing, irrevocable and unconditional guaranty of payment and performance, and
not a guaranty of collection, and each Guarantor shall remain liable on its obligations hereunder until the Date of Full Satisfaction in accordance with the terms and conditions of the Credit Agreement. No
set-off, counterclaim, recoupment, reduction, or diminution of any obligation, or any defense of any kind or nature which any Borrower may have against any Guaranteed Secured Party or any other party, or which
any Guarantor may have against any Borrower, any Guaranteed Secured Party or any other party, shall be available to, or shall be asserted by, any Guarantor against any Guaranteed Secured Party or any subsequent holder of the Guaranteed Indebtedness
or any part thereof or against payment of the Guaranteed Indebtedness or any part thereof until the Date of Full Satisfaction in accordance with the terms and conditions of the Credit Agreement. 

4. If a Guarantor becomes liable for any Indebtedness owing by any Borrower to any Guaranteed Secured Party by endorsement or otherwise, other
than under this Guaranty Agreement, such liability shall not be in any manner impaired or affected hereby, and the rights of the Guaranteed Secured Parties hereunder shall be cumulative of any and all other rights that any Guaranteed Secured Party
may ever have against such Guarantor. The exercise by any Guaranteed Secured Party of any right or remedy hereunder or under any other instrument, or at law or in equity, shall not preclude the concurrent or subsequent exercise of any other right or
remedy. 

  
 GUARANTY AGREEMENT, Page
3 

 5. Upon the occurrence and continuance of an Event of Default arising from any
Borrower’s default in payment of its Obligations, or any part thereof, when such Obligations become due, whether by its terms, by acceleration, or otherwise, the Guarantors of such defaulted Obligations to the extent constituting Guaranteed
Indebtedness shall, jointly and severally, promptly pay the amount due thereon to Agent, without notice or demand, in the currency required by the Credit Agreement, and it shall not be necessary for the Agent or any other Guaranteed Secured Party,
in order to enforce such payment by any Guarantor, first to institute suit or exhaust its remedies against any Borrower or others liable on such Guaranteed Indebtedness, or to enforce any rights against any Collateral which shall have been given to
secure such Guaranteed Indebtedness. In the event such payment is made by a Guarantor, then such Guarantor shall be subrogated to the rights then held by the Agent and any other Guaranteed Secured Party with respect to the Guaranteed Indebtedness to
the extent the Guaranteed Indebtedness was discharged by such Guarantor and, in addition, upon payment by such Guarantor of any sums to the Agent or any other Guaranteed Secured Party hereunder, all rights of such Guarantor against the applicable
Borrower, any other Guarantor or any collateral arising as a result therefrom by way of right of subrogation, reimbursement, or otherwise shall in all respects be subordinate and junior in right of payment until the Date of Full Satisfaction in
accordance with the terms and conditions of the Credit Agreement. All payments received by the Agent hereunder shall be applied by the Agent to payment of the applicable Guaranteed Indebtedness in the order provided for in Section 2.18(f) of
the Credit Agreement. 
 6. If acceleration of the time for payment of any amount payable by any Borrower under its Obligations is stayed
upon the insolvency, bankruptcy, reorganization or any similar proceeding of such Borrower, all such amounts otherwise subject to acceleration under the terms of the Guaranteed Indebtedness relating to such Obligations shall nonetheless be payable
by the applicable Guarantors hereunder forthwith on demand by the Agent or the Required Lenders. 
 7. Each Guarantor hereby agrees that its
obligations under this Guaranty Agreement shall not be released, discharged, diminished, impaired, reduced, or affected for any reason or by the occurrence of any event which affects the Guaranteed Indebtedness, including, without limitation, one or
more of the following events, whether or not with notice to or the consent of any Guarantor: (a) the taking or accepting of Collateral as security for any or all of the Guaranteed Indebtedness or the release, surrender, exchange, or
subordination of any Collateral now or hereafter securing any or all of the Guaranteed Indebtedness; (b) any partial release of the liability of any Guarantor hereunder, or the full or partial release of any other guarantor from liability for
any or all of the Guaranteed Indebtedness; (c) any disability of any Borrower, or the dissolution, insolvency, bankruptcy, or any similar proceeding of any Borrower, any Guarantor, or any other party at any time liable for the payment of any or
all of the Guaranteed Indebtedness; (d) any renewal, extension, modification, waiver, amendment, restatement, amendment and restatement or rearrangement of any or all of the Guaranteed Indebtedness or any instrument, document, or agreement
evidencing, securing, or otherwise relating to any or all of the Guaranteed Indebtedness; (e) any adjustment, indulgence, forbearance, waiver, or compromise that may be granted or given by the Agent or any other Guaranteed Secured Party to any
Borrower, any Guarantor, or any other party ever liable for any or all of the Guaranteed Indebtedness; (f) any neglect, delay, omission, failure, or refusal of the Agent or any other Guaranteed Secured Party to take or prosecute any action for
the collection of any of the Guaranteed Indebtedness or to foreclose or take or prosecute any action in connection with any instrument, document, or agreement evidencing, securing, or otherwise relating to any or all of the Guaranteed Indebtedness;
(g) the unenforceability or invalidity of any or all of the Guaranteed Indebtedness or of any instrument, document, or agreement evidencing, securing, or otherwise relating to any or all of the Guaranteed Indebtedness; (h) any payment by
any Borrower or any other party to the Agent or any other Guaranteed Secured Party is held to constitute a preference under applicable bankruptcy or insolvency law or if for any other reason the Agent or any other Guaranteed Secured Party is
required to refund any payment or pay the amount thereof to someone else; (i) the settlement or compromise of any of the Guaranteed Indebtedness; (j) the non-perfection of any security interest or
lien securing any or all of the Guaranteed Indebtedness; 

  
 GUARANTY AGREEMENT, Page
4 

 
(k) any impairment of any Collateral securing any or all of the Guaranteed Indebtedness; (l) the failure of the Agent or any other Guaranteed Secured Party to sell any Collateral
securing any or all of the Guaranteed Indebtedness in a commercially reasonable manner or as otherwise required by law; (m) any change in the corporate existence, structure, or ownership of any Borrower or any Guarantor; or (n) any other
circumstance which might otherwise constitute a defense available to, or discharge of, any Borrower or any other Guarantor (in any case other than upon the Date of Full Satisfaction). 

8. Each Guarantor represents and warrants to the Agent and the Lenders that the representations and warranties in Sections 3.01, 3.02 and 3.03
of the Credit Agreement to the extent relating to it are true and correct in all material respects as of the date hereof and on each date the representations and warranties hereunder are restated pursuant to any of the Loan Documents with the same
force and effect as if such representations and warranties had been made on and as of such date except to the extent that such representations and warranties relate specifically to another date. 

9. The following limitations shall apply to any Guarantor which is incorporated under the laws of the Federal Republic of Germany as a limited
liability company (Gesellschaft mit beschränkter Haftung) (only for the purposes of this Section 9, the “German Guarantor”): 

(a) The enforcement of the guarantee granted by the German Guarantor hereunder (the “GmbH Collateral”) shall be limited as
follows: 
 (1) The enforcement of the GmbH Collateral shall be limited if and to the extent that such GmbH Collateral secures obligations
of a shareholder of the German Guarantor or an affiliated company (verbundes Unternehmen) of such shareholder within the meaning of section 15 of the German Stock Corporation Act (Aktiengesetz) (other than any of the German
Guarantor’s direct or indirect subsidiaries) and that, in such case, the enforcement of the GmbH Collateral (i) would cause the German Guarantor’s assets less the German Guarantor’s liabilities (the “Net Assets”)
to be less than its registered share capital (Stammkapital) (Begründung einer Unterbilanz) or (ii) (if the German Guarantor’s Net Assets are already less than its registered share capital) would cause such deficit to be
further increased (Vertiefung der Unterbilanz). 
 (2) For the purposes of such calculation the Net Assets shall be determined in
accordance with the German Commercial Code (Handelsgesetzbuch) save that the following balance sheet items shall be adjusted as follows: 

(i) if the registered share capital of the German Guarantor is not fully paid up (nicht voll eingezahlt), the relevant amount which is
not paid up shall be deducted from the registered share capital; 
 (ii) the amount of any increase after the date of this Guaranty
Agreement of the German Guarantor’s registered share capital out of capital reserves of such German Guarantor (Kapitalerhöhung aus Kapitalrücklagen) which has been effected without the prior written consent of the Agent shall
be deducted from the registered share capital; 
 (iii) any loan provided to such German Guarantor, insofar as such loan qualifies as
equity or subordinated shareholder loan, shall be disregarded; and 
 (iv) liabilities in relation to loans granted to, and other
contractual liabilities incurred by, the German Guarantor in breach of any term of the Credit Agreement shall be disregarded. 

  
 GUARANTY AGREEMENT, Page
5 

 (3) In addition, the German Guarantor shall, to the extent legally permissible, realize in a
situation where, after enforcement of the GmbH Collateral, the German Guarantor would not have Net Assets in excess of its registered share capital, any and all of its assets that are shown in the balance sheet with a book value (Buchwert)
that is lower than the market value of the asset unless the relevant asset is necessary for the business of the German Guarantor (Sicherungsabtretung) its respective claim for the purchase price or other proceeds from the realization to the
Agent or any nominee appointed by the Agent. 
 (4) The enforcement of the GmbH Collateral shall initially be excluded pursuant to
paragraph (a) (1) above if no later than ten (10) Business Days following a demand by the Agent to enforce the GmbH Collateral, the managing directors on behalf of the German Guarantor have confirmed in writing to the Agent (the
“Management Determination”): 
 (i) to what extent the GmbH Collateral granted by the German Guarantor is an up-stream or cross-stream security as described in paragraph (a) (1) above; and 
 (ii) which
amount of such cross-stream and/or up-stream security cannot be enforced as it would cause the Net Assets of the German Guarantor to be less than (or fall further below) its registered share capital (taking
into account the adjustments set out in paragraph (a) (2) above and the realization duties set out in paragraph (a) (3) above), 

and such confirmation is supported by a calculation which is satisfactory to the Agent, acting reasonably. 

Notwithstanding the above, the Agent shall in any event be entitled to enforce the GmbH Collateral for any amounts where such enforcement would, in accordance
with the Management Determination, not cause the German Guarantor’s Net Assets to be less than (or to fall further below) the amount if its registered share capital (in each case as calculated and adjusted in accordance with
paragraph (a) (2) above. 
 (5) Following the Agent’s receipt of a Management Determination, any further enforcement of
the GmbH Collateral shall be excluded pursuant to paragraph (a) (1) above for a period of no more than twenty (20) Business Days only. 

If the Agent receives within such twenty (20) Business Days period (i) an up-to-date balance sheet together with (ii) a determination in each case prepared by auditors of international standard and reputation appointed by the German Guarantor either confirming the Management
Determination (the “Auditors Determination”), the further enforcement of the GmbH Collateral shall be limited, if and to the extent such enforcement would, in accordance with the Auditor’s Determination cause the German
Guarantor’s Net Assets to be less than (or to fall further below) the amount of its registered share capital in each case as calculated and adjusted in accordance with paragraph (a) (2) above. If the German Guarantor fails to deliver
an Auditor’s Determination within twenty (20) Business Days after receipt of the Management Determination, the Agent shall be entitled to enforce the GmbH Collateral without any limitation or restriction. 

(6) The limitations set out in this paragraph (a) shall not apply (or, as the case may be, shall cease to apply): 

(i) if and to the extent the relevant GmbH Collateral secures any amounts borrowed under the Credit Agreement which are lent, on-lent or otherwise passed on to such German Guarantor or any of its subsidiaries from time to time; or 

  
 GUARANTY AGREEMENT, Page
6 

 (ii) if and to the extent the enforcement of the GmbH Collateral will result in a fully
valuable recourse claim (vollwertiger Rückgriffanspruch) of the German Guarantor within the meaning of section 30 paragraph 1 sentence 2 of the German Limited Liability Companies Act (GmbH); or 

(iii) if and to the extent a domination and/or profit and loss pooling agreement (Beherrschungs- und/oder Gewinnabführungsvertrag)
is or becomes effective with the German Guarantor as dominated entity, unless the German Guarantor evidences by deliver to the Agent, within two (2) weeks following a payment demand of a Secured Party in relation to the GmbH Collateral, a legal
opinion prepared by a reputable law firm acceptable to the Agent (acting reasonably) that the payment of the relevant German Guarantor would result in a violation of section 30 or 31 of the German Limited Liability Companies Act
(“GmbHG”) irrespective of whether the German Guarantor is a dominated company under a domination and/or profit and loss pooling agreement (Beherrschungs- und/oder Gewinnabführunugsvertrag); or 

(iv) if and to the extent for any other reason (including, without limitation, as a result of a change in the relevant rules of law) the
deficit (Unterbilanz) referred to in paragraph (a) (1) above does not constitute a breach of the German Guarantor’s obligations to maintain its registered share capital pursuant to sections 30 et seq. GmbHG, each as amended,
supplemented and/or replaced from time to time. 
 (b) If, prior to the date of enforcement of the GmbH Collateral of the German Guarantor,
a final (rechtskräftig) judgement of the Federal High Court of Justice (Bundesgerichtshof) or a Higher Regional Court (Oberlandesgericht) has been passed in relation to section 30 GmbHG which states that the mere
existence of a domination agreement (Beherrschungsvertrag) and/or a profit absorption agreement (Gewinnabführungsvertrag) without a fully recoverable recourse claim (vollwertiger Gegenleistungs- oder
Rückgriffsanspruch) is not sufficient in order to avoid a violation of section 30 GmbHG, the limitation set out in paragraph (a) (6) (iii) above shall no longer apply. 

(c) The provisions of this Section 9 shall apply mutatis mutandis in relation to the general partner of a
German Guarantor which is established under the laws of the Federal Republic of Germany as a limited liability partnership (Kommanditgesellschaft) with a German limited liability company (Gesellschaft mit beschränkter Haftung) as
its sole general partner (Komplementär) (GmbH & Co. KG). 
 10.Each Guarantor acknowledges the
following: 
 (a) It has, independently and without reliance upon the Agent or any Lender and based upon such documents and
information as it has deemed appropriate, made its own analysis and decision to enter into the Loan Documents to which it is a party. 

(b) It is not relying upon the Agent or any Lender to provide (and neither the Agent nor any Lender shall have any duty to
provide) any information concerning the financial condition and assets of any Borrower to it either now or in the future. 
 11. Each
Guarantor covenants and agrees that, until the Date of Full Satisfaction, it will comply with all covenants set forth in the Credit Agreement that are applicable to it. 

12. When an Event of Default exists and is continuing and subject to the terms and conditions of the Credit Agreement, the Agent and each
other Guaranteed Secured Party shall, to the fullest extent permitted by law, have the right to set-off and apply against each applicable Guarantor’s Guaranteed Indebtedness constituting Loan Obligations,
at any time and without notice to any Guarantor, any and all deposits (general or special, time or demand, provisional or final) or other sums at any time credited by or owing from the Agent and each other Guaranteed Secured Party to any Guarantor
whether or not the 

  
 GUARANTY AGREEMENT, Page
7 

 
Guaranteed Indebtedness is then due and irrespective of whether or not the Agent or any other Guaranteed Secured Party shall have made any demand under this Guaranty Agreement. Each Guaranteed
Secured Party agrees promptly to notify the Borrowers in writing (with a copy to the Agent) after any such setoff and application; provided that the failure to give such notice shall not affect the validity of such setoff and application. The
rights and remedies of the Agent and other Guaranteed Secured Parties hereunder are in addition to other rights and remedies (including, without limitation, other rights of set-off) which the Agent or any
other Secured Party may have. 
 13. (a) Each Guarantor agrees that any and all Liens (including any judgment liens), upon any such
Guarantor’s assets securing payment of any Subordinated Indebtedness shall be and remain inferior and subordinate to any and all Liens upon any such Guarantor’s assets securing payment of the Guaranteed Indebtedness or any part
thereof, regardless of whether such Liens that are in favor of a Guarantor, the Agent or any other Guaranteed Secured Party presently exist or are hereafter created or attached. Without the prior written consent of the Agent (which consent shall not
be unreasonably withheld), no Guarantor shall (i) file suit against any other Guarantor or exercise or enforce any other creditor’s right it may have against any other Guarantor, or (ii) foreclose, repossess, sequester, or otherwise
take steps or institute any action or proceedings (judicial or otherwise, including without limitation the commencement of, or joinder in, any liquidation, receivership, bankruptcy, reorganization, rearrangement, debtor’s relief or other
insolvency proceeding) to enforce any obligations of any other Guarantor to such Guarantor or any Liens held by such Guarantor on assets of any other Guarantor. 

(b) In the event of any liquidation, receivership, bankruptcy, reorganization, rearrangement, debtor’s relief or other
insolvency proceeding involving any Guarantor as debtor, the Agent shall have the right to prove and, to the extent permitted by applicable law, vote any claim under the Subordinated Indebtedness and to receive directly from the receiver, trustee or
other court custodian all dividends, distributions, and payments made in respect of the Subordinated Indebtedness until the Date of Full Satisfaction. The Agent may apply any such dividends, distributions, and payments against such Guaranteed
Indebtedness in accordance with the Credit Agreement. 
 14. Except for modifications made pursuant to the execution and delivery of a
Subsidiary Joinder Agreement or as otherwise provided in the Credit Agreement, no amendment or waiver of any provision of this Guaranty Agreement or consent to any departure by any Guarantor therefrom shall in any event be effective unless the same
shall be in writing and signed by the Guarantors and the Agent (with the consent of the Required Lenders). No failure on the part of the Agent or any other Guaranteed Secured Party to exercise, and no delay in exercising, any right, power, or
privilege hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any right, power, or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, power, or privilege. The
remedies herein provided are cumulative and not exclusive of any remedies provided by law. 
 15. This Guaranty Agreement is for the benefit
of the Guaranteed Secured Parties and their successors and permitted assigns, and in the event of an assignment of the Guaranteed Indebtedness, or any part thereof, the rights and benefits hereunder, to the extent applicable to the Guaranteed
Indebtedness so assigned, may be transferred with such Guaranteed Indebtedness. This Guaranty Agreement is binding not only on each Guarantor, but on each Guarantor’s successors and assigns. 

16. Each Guarantor recognizes that the Agent and the Lenders are relying upon this Guaranty Agreement and the undertakings of each Guarantor
hereunder and under the other Loan Documents to which each is a party in making extensions of credit to the Borrowers under the Credit Agreement and further recognizes that the execution and delivery of this Guaranty Agreement and the other Loan
Documents to which each Guarantor is a party is a material inducement to the Agent and the Lenders in 

  
 GUARANTY AGREEMENT, Page
8 

 
entering into the Credit Agreement and continuing to extend credit thereunder. Each Guarantor hereby acknowledges that there are no conditions to the full effectiveness of this Guaranty Agreement
or any other Loan Document to which it is a party other than as may be set forth herein or in the other Loan Documents. 
 17. Any notice or
demand to any Guarantor under or in connection with this Guaranty Agreement or any other Loan Document to which it is a party shall be deemed effective if given to the Guarantor (care of the Parent Borrower) in accordance with the notice provisions
in the Credit Agreement. 
 18. Except as otherwise specifically provided in the Credit Agreement, each Guarantor hereby waives promptness,
diligence, notice of any default under the Guaranteed Indebtedness, demand of payment, notice of acceptance of this Guaranty Agreement, presentment, notice of protest, notice of dishonor, notice of the incurring by any Borrower of additional
indebtedness, and all other notices and demands with respect to the Guaranteed Indebtedness and this Guaranty Agreement. 
 19. THIS
GUARANTY AGREEMENT, TOGETHER WITH ANY SUBSIDIARY JOINDER AGREEMENT, EMBODIES THE FINAL, ENTIRE AGREEMENT OF EACH GUARANTOR, THE AGENT AND THE OTHER GUARANTEED SECURED PARTIES WITH RESPECT TO EACH GUARANTOR’S GUARANTY OF THE GUARANTEED
INDEBTEDNESS AND SUPERSEDES ANY AND ALL PRIOR COMMITMENTS, AGREEMENTS, REPRESENTATIONS, AND UNDERSTANDINGS, WHETHER WRITTEN OR ORAL, RELATING TO THE SUBJECT MATTER HEREOF. THIS GUARANTY AGREEMENT, TOGETHER WITH ANY SUBSIDIARY JOINDER AGREEMENT, IS
INTENDED BY EACH GUARANTOR, THE AGENT AND THE OTHER GUARANTEED SECURED PARTIES AS A FINAL AND COMPLETE EXPRESSION OF THE TERMS OF THE GUARANTY AGREEMENT, AND NO COURSE OF DEALING AMONG ANY GUARANTOR, AGENT AND ANY OTHER GUARANTEED SECURED PARTY, NO
COURSE OF PERFORMANCE, NO TRADE PRACTICES, AND NO EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OR DISCUSSIONS OR OTHER EXTRINSIC EVIDENCE OF ANY NATURE SHALL BE USED TO CONTRADICT, VARY, SUPPLEMENT OR MODIFY ANY TERM OF THIS
GUARANTY AGREEMENT. THERE ARE NO ORAL AGREEMENTS AMONG ANY GUARANTOR, THE AGENT AND ANY OTHER SECURED PARTY. 
 20. This Guaranty
Agreement may be executed in counterparts (and by different parties hereto on 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 (x) this Guaranty Agreement, (y) any other Loan Document and/or (z) any document, amendment, approval, consent, information, notice, certificate, request, statement, disclosure or authorization
related to this Guaranty Agreement, any other Loan Document and/or the transactions contemplated hereby and/or thereby (each an “Ancillary Document”) that is an electronic symbol, or process attached to, or associated with, a
contract or other record and adopted by a Person with the intent to sign, authenticate or accept such contract or record (each an “Electronic Signature”) transmitted by telecopy, emailed pdf. or any other electronic means that
reproduces an image of an actual executed signature page shall be effective as delivery of a manually executed counterpart of this Guaranty Agreement, such other Loan Document or such Ancillary Document, as applicable. The words
“execution,” “signed,” “signature,” “delivery,” and words of like import in or relating to this Guaranty Agreement, any other Loan Document and/or any Ancillary Document shall be deemed to include Electronic
Signatures, deliveries or the keeping of records in any electronic form (including deliveries by telecopy, emailed pdf. or any other electronic means that reproduces an image of an actual executed signature page), each of which shall be of the same
legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be; provided that nothing herein shall require the Administrative Agent to
accept Electronic Signatures in any form or format without its prior written consent 

  
 GUARANTY AGREEMENT, Page
9 

 
and pursuant to procedures approved by it; provided, further, without limiting the foregoing, (i) to the extent the Administrative Agent has agreed to accept any Electronic
Signature, (A) the Administrative Agent and each of the Lenders shall be entitled to rely on such Electronic Signature purportedly given by or on behalf of any Borrower or any other Loan Party without further verification thereof and without
any obligation to review the appearance or form of any such Electronic Signature and (B) the Loan Parties shall be entitled to rely on such Electronic Signature purportedly given on behalf of the Administrative Agent, any Lender, any Swingline
Lender or any Issuing Bank without further verification thereof and without any obligation to review the appearance or form of any such Electronic Signature and (ii) upon the request of any Loan Party, the Administrative Agent or any Lender,
any Electronic Signature shall be promptly followed by a manually executed counterpart. Without limiting the generality of the foregoing, (i) the Guarantors, the Administrative Agent, the Lenders and any holder of the Obligations, by their
acceptance of the benefits of this Guaranty Agreement, hereby agree that, for all purposes, including without limitation, in connection with any workout, restructuring, enforcement of remedies, bankruptcy proceedings or litigation among the
Administrative Agent, the Lenders, the Borrowers and the Loan Parties, Electronic Signatures transmitted by telecopy, emailed pdf. or any other electronic means that reproduces an image of an actual executed signature page and/or any electronic
images of this Guaranty Agreement, any other Loan Document and/or any Ancillary Document shall have the same legal effect, validity and enforceability as any paper original and (ii) each other party hereto or to any Loan Document and/or
Ancillary Document may, at its option, create one or more copies of this Guaranty Agreement, any other Loan Document and/or any Ancillary Document in the form of an imaged electronic record in any format, which shall be deemed created in the
ordinary course of such Person’s business, and destroy the original paper document (and all such electronic records shall be considered an original for all purposes and shall have the same legal effect, validity and enforceability as a paper
record). 
 21. This Guaranty Agreement shall be governed by, and construed in accordance with, the laws of the State of New York. 

22. EACH PARTY HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE EXCLUSIVE JURISDICTION OF ANY
FEDERAL OR STATE COURT LOCATED IN THE BOROUGH OF MANHATTAN IN THE CITY OF NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO ANY LOAN DOCUMENT (EXCLUDING THE ENFORCEMENT OF THE SECURITY
DOCUMENTS TO THE EXTENT SUCH SECURITY DOCUMENTS EXPRESSLY PROVIDE OTHERWISE), OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND EACH OF SUCH PARTIES HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH
ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE OR, TO THE EXTENT PERMITTED BY LAW, IN SUCH FEDERAL COURT. EACH OF SUCH PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY
BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. 
 23. Keepwell. Each Qualified
Keepwell Provider hereby jointly and severally absolutely, unconditionally, and irrevocably undertakes to provide such funds or other support as may be needed from time to time by each other Loan Party to honor all of its obligations under this
guarantee in respect of any Swap Obligation (provided, however, that each Qualified Keepwell Provider shall only be liable under this Section 23 for the maximum amount of such liability that can be hereby
incurred without rendering its obligations under this Section 23, or otherwise under this guarantee, voidable under applicable law relating to fraudulent conveyance or fraudulent transfer or under any other local law
limitation set forth in any applicable Subsidiary Joinder Agreement, and not for any greater amount). The obligations of each Qualified Keepwell Provider under this Section 23 shall remain in full force and effect until the
Date of 

  
 GUARANTY AGREEMENT, Page
10 

 
Full Satisfaction. Each Qualified Keepwell Provider intends that this Section 23 constitute, and this Section 23 shall be deemed to constitute,
a “keepwell, support, or other agreement” for the benefit of each other Loan Party for all purposes of section 1a(18)(A)(v)(II) of the Commodity Exchange Act. 

24. EACH GUARANTOR SHALL INDEMNIFY THE ADMINISTRATIVE AGENT, THE ISSUING BANK AND EACH LENDER, AND EACH RELATED PARTY OF ANY OF THE FOREGOING
PERSONS (EACH SUCH PERSON BEING CALLED AN “INDEMNITEE”) AGAINST, AND HOLD EACH INDEMNITEE HARMLESS FROM, ANY AND ALL LOSSES, CLAIMS, DAMAGES, LIABILITIES AND RELATED EXPENSES, INCLUDING THE FEES, CHARGES AND DISBURSEMENTS OF ANY
COUNSEL FOR ANY INDEMNITEE (LIMITED TO ONE COUNSEL TO THE INDEMNITEES, TAKEN AS A WHOLE, AND ONE ADDITIONAL COUNSEL IN EACH JURISDICTION IN WHICH ANY COLLATERAL IS LOCATED OR ANY PROCEEDINGS ARE HELD AND, IN THE CASE OF AN ACTUAL OR PERCEIVED
CONFLICT OF INTEREST, ONE ADDITIONAL COUNSEL TO THE INDEMNITEES, TAKEN AS A WHOLE), INCURRED BY OR ASSERTED AGAINST ANY INDEMNITEE ARISING OUT OF, IN CONNECTION WITH, OR AS A RESULT OF (I) THE SYNDICATION OF THE COMMITMENTS OR THE LOANS, THE
EXECUTION OR DELIVERY OF ANY LOAN DOCUMENT OR ANY OTHER AGREEMENT OR INSTRUMENT CONTEMPLATED HEREBY, THE PERFORMANCE BY THE PARTIES TO THE LOAN DOCUMENTS OF THEIR RESPECTIVE OBLIGATIONS THEREUNDER OR THE CONSUMMATION OF THE TRANSACTIONS, ANY OTHER
ACQUISITION PERMITTED UNDER THE CREDIT AGREEMENT OR ANY OTHER TRANSACTIONS CONTEMPLATED THEREBY, (II) ANY LOAN OR LETTER OF CREDIT OR THE USE OF THE PROCEEDS THEREFROM (INCLUDING ANY REFUSAL BY THE ISSUING BANK TO HONOR A DEMAND FOR PAYMENT
UNDER A LETTER OF CREDIT IF THE DOCUMENTS PRESENTED IN CONNECTION WITH SUCH DEMAND DO NOT STRICTLY COMPLY WITH THE TERMS OF SUCH LETTER OF CREDIT), (III) ANY ACTUAL OR ALLEGED PRESENCE OR RELEASE OF HAZARDOUS MATERIALS ON OR FROM ANY PROPERTY
CURRENTLY OR FORMERLY OWNED OR OPERATED BY THE PARENT BORROWER OR ANY OF ITS SUBSIDIARIES, OR ANY ENVIRONMENTAL LIABILITY RELATED IN ANY WAY TO THE PARENT BORROWER OR ANY OF ITS SUBSIDIARIES, OR (IV) ANY ACTUAL OR PROSPECTIVE CLAIM, LITIGATION,
INVESTIGATION, ACTION, SUIT, ARBITRATION OR ADMINISTRATIVE, JUDICIAL OR REGULATORY ACTION OR PROCEEDING IN ANY JURISDICTION RELATING TO ANY OF THE FOREGOING (EACH, A “PROCEEDING”), WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY
AND REGARDLESS OF WHETHER OR NOT SUCH PROCEEDING IS BROUGHT BY A GUARANTOR OR ITS RESPECTIVE AFFILIATES, CREDITORS OR ANY OTHER PERSON; PROVIDED THAT SUCH INDEMNITY SHALL NOT, AS TO ANY INDEMNITEE, BE AVAILABLE TO THE EXTENT THAT SUCH LOSSES,
CLAIMS, DAMAGES, LIABILITIES OR RELATED EXPENSES RESULTED FROM THE GROSS NEGLIGENCE, BAD FAITH OR WILLFUL MISCONDUCT OF, OR A MATERIAL BREACH OF ANY OBLIGATION UNDER THE LOAN DOCUMENTS BY, SUCH INDEMNITEE AS DETERMINED BY A FINAL, NON-APPEALABLE JUDGMENT OF A COURT OF COMPETENT JURISDICTION OR ANY DISPUTE SOLELY AMONG THE INDEMNITEES (OTHER THAN A COMMITMENT PARTY, AN ARRANGER OR THE ADMINISTRATIVE AGENT ACTING IN THEIR RESPECTIVE CAPACITY AS
SUCH) AND NOT ARISING OUT OF ANY ACT OR OMISSION OF THE PARENT BORROWER OR ANY OF ITS AFFILIATES OR RELATED TO THE PRESENCE OR RELEASE OF HAZARDOUS MATERIALS OR VIOLATIONS OF ENVIRONMENTAL LAWS THAT FIRST OCCUR AT A PROPERTY OWNED OR LEASED BY
PARENT BORROWER OR ITS SUBSIDIARIES AFTER SUCH PROPERTY IS TRANSFERRED TO AN INDEMNITEE OR ITS SUCCESSORS OR ASSIGNS BY WAY OF A FORECLOSURE, DEED–IN–LIEU OF FORECLOSURE OR SIMILAR TRANSFER. NOTWITHSTANDING THE FOREGOING, EACH INDEMNITEE
SHALL BE OBLIGATED TO REFUND AND RETURN ANY AND ALL AMOUNTS PAID BY THE GUARANTORS OR ANY OTHER LOAN PARTY UNDER THIS PARAGRAPH TO SUCH INDEMNITEE FOR ANY SUCH FEES, EXPENSES OR DAMAGES TO THE EXTENT SUCH INDEMNITEE IS NOT ENTITLED TO PAYMENT OF
SUCH AMOUNT IN ACCORDANCE WITH THE TERMS HEREOF. 

  
 GUARANTY AGREEMENT, Page
11 

 25. Notwithstanding any other provision contained herein or in any other Loan Document, if a
“secured creditor” (as that term is defined under the Bankruptcy and Insolvency Act (Canada) (the “BIA”) is determined by a court of competent jurisdiction not to include a Person to whom obligations are owed on a joint or
joint and several basis, then each Canadian Loan Party’s Obligations, to the extent such Obligations are secured, shall be several obligations and not joint or joint and several obligations. 

26. Each Guarantor hereby irrevocably and unconditionally undertakes to pay to the Administrative Agent as creditor in its own right and not
as representative of the other Secured Parties, its Parallel Debt (as defined in the Credit Agreement). Section 10.19 (Parallel Debt (Covenant to pay the Administrative Agent)) of the Credit Agreement is incorporated herein by reference and
shall be deemed to be part of the Guaranty Agreement and the terms thereof shall constitute valid and binding agreements of the Guarantor, enforceable against the Guarantor. For the avoidance of doubt, this is the section referred to as section 24
in the definition of “Secured Obligations” in the Security Documents governed by the law of the Netherlands. 
 27. Effective as
of the Sixth Amendment Date, each Existing Guarantor that is not a party to this Guaranty Agreement on the Sixth Amendment Effective Date (each, a “Released Guarantor”) is irrevocably and forever discharged from all obligations of
such Released Guarantor under the Existing Guaranty Agreement and as a Loan Party under each Loan Document to which such Released Guarantor was a party prior to the Sixth Amendment Date, and any Lien of the Agent on the assets of such Released
Guarantor, solely to the extent such Lien was granted pursuant to the Loan Documents prior to the Sixth Amendment Date, shall be immediately released, in each case, without any further act of the Agent, the Lenders or any other Person and such
Released Guarantor shall be hereby released from liability therefor and no future liability shall arise with respect to such released guarantee and Liens of such Released Guarantor hereunder. The Agent agrees to make any applicable release filing
and/or execute and deliver any additional release documentation, to the extent reasonably requested by the Borrowers or Released Guarantors, as may be necessary to effect the release and discharge granted under this
Section 27. 
 28. Except as expressly set forth in Section 27 of this Guaranty
Agreement, (a) all obligations created by the Existing Guaranty Agreement are continued in full force and effect under this Guaranty Agreement, (b) the Existing Guaranty Agreement remains in full force and effect as amended by this
Guaranty Agreement, (c) this Guaranty Agreement shall not extinguish the obligations for the payment of money outstanding under the Existing Guaranty Agreement, (d) nothing herein contained shall be construed as a substitution or novation
of the obligations outstanding under the Existing Guaranty Agreement or a novation of the Existing Guaranty Agreement, (e) the obligations outstanding under the Existing Guaranty Agreement shall remain in full force and effect, except to any
extent expressly modified hereby and (f) nothing implied in this Guaranty Agreement or in any other document contemplated hereby shall be construed as a release or other discharge of any Guarantor from any of its obligations and liabilities as
a guarantor under this Guaranty. With respect to the Security Documents governed by the law of the Netherlands and with respect to the Security Documents governed by German law, each Guarantor affirms and confirms that (i) it was its intention
at the time of entering into such Security Documents (and it is still its intention and agreement with the Administrative Agent) that the security rights created pursuant to such Security Document secure the Obligations as amended, restated, amended
and restated and/or supplemented from time to time including by way of the Sixth Amendment and (ii) that any amount owed by the Loan Parties under the Credit Agreement as amended by and in accordance with the Sixth Amendment are part of the
definition of “Secured Obligations” (as defined in such Security Documents). 
 [signature pages to follow] 

  
 GUARANTY AGREEMENT, Page
12 

 EXECUTED as of the first date written above. 

 

			
	GUARANTORS:
	DARLING INGREDIENTS INC.
		
	By:	 	/s/ Martijn van Steenpaal
	Name:	 	Martijn van Steenpaal
	Title:	 	Vice President and Treasurer

  

			
	CRAIG PROTEIN DIVISION, INC.
		
	By:	 	/s/ Martijn van Steenpaal
	Name:	 	Martijn van Steenpaal
	Title:	 	Vice President and Treasurer

  

			
	DARLING GLOBAL HOLDINGS INC.
		
	By:	 	/s/ Martijn van Steenpaal
	Name:	 	Martijn van Steenpaal
	Title:	 	Vice President and Treasurer

  

			
	DARLING NATIONAL LLC
		
	By:	 	/s/ Martijn van Steenpaal
	Name:	 	Martijn van Steenpaal
	Title:	 	Vice President and Treasurer

  

			
	GRIFFIN INDUSTRIES LLC
		
	By:	 	/s/ Martijn van Steenpaal
	Name:	 	Martijn van Steenpaal
	Title:	 	Vice President and Treasurer

  
 [Signature Page to Third
Amended and Restated Guaranty Agreement] 

 
			
	ROUSSELOT INC.
		
	By:	 	/s/ Martijn van Steenpaal
	Name:	 	Martijn van Steenpaal
	Title:	 	Vice President and Treasurer

  

			
	ROUSSELOT DUBUQUE INC. 
		
	By:	 	/s/ Martijn van Steenpaal
	Name:	 	Martijn van Steenpaal
	Title:	 	Vice President and Treasurer

  

			
	ROUSSELOT PEABODY INC.
		
	By:	 	/s/ Martijn van Steenpaal
	Name:	 	Martijn van Steenpaal
	Title:	 	Vice President and Treasurer

  

			
	SONAC USA LLC
		
	By:	 	/s/ Martijn van Steenpaal
	Name:	 	Martijn van Steenpaal
	Title:	 	Vice President and Treasurer

  

			
	DARLING INTERNATIONAL CANADA INC.
		
	By:	 	/s/ Martijn van Steenpaal
	Name:	 	Martijn van Steenpaal
	Title:	 	Vice President and Treasurer

  
 [Signature Page to Third
Amended and Restated Guaranty Agreement] 

 
			
	DARLING INTERNATIONAL NL HOLDINGS B.V.
		
	By:	 	/s/ Martijn van Steenpaal
	Name:	 	Martijn van Steenpaal
	Title:	 	Authorized Signatory

  

			
	DARLING INGREDIENTS INTERNATIONAL HOLDING B.V.
		
	By:	 	/s/ Martijn van Steenpaal
	Name:	 	Martijn van Steenpaal
	Title:	 	Authorized Signatory

  

			
	DARLING INTERNATIONAL NETHERLANDS B.V.
		
	By:	 	/s/ Martijn van Steenpaal
	Name:	 	Martijn van Steenpaal
	Title:	 	Authorized Signatory

  

			
	DARLING INGREDIENTS NEDERLAND HOLDING B.V.
		
	By:	 	/s/ Martijn van Steenpaal
	Name:	 	Martijn van Steenpaal
	Title:	 	Authorized Signatory

  
 [Signature Page to Third
Amended and Restated Guaranty Agreement] 

 
			
	DARLING INGREDIENTS GERMANY HOLDING GMBH
		
	By:	 	/s/ Martijn van Steenpaal
	Name:	 	Martijn van Steenpaal
	Title:	 	Authorized Representative

  

			
	DARLING INGREDIENTS BELGIUM HOLDING B.V.
		
	By:	 	/s/ Martijn van Steenpaal
	Name:	 	Martijn van Steenpaal
	Title:	 	Special Proxyholder

  
 [Signature Page to Third
Amended and Restated Guaranty Agreement] 

 
			
	 AGENT:
 JPMORGAN CHASE BANK,
N.A.,
 as Agent for the Secured Parties

		
	By:	 	/s/ Alexander Vardaman
	Name:	 	Alexander Vardaman
	Title:	 	Authorized Signatory

  
 [Signature Page to Third
Amended and Restated Guaranty Agreement] 

 SUBSIDIARY JOINDER AGREEMENT 

This SUBSIDIARY JOINDER AGREEMENT (the “Agreement”) dated as of ____________________, ____ is executed by the undersigned
(the “Guarantor”) for the benefit of JPMORGAN CHASE BANK, N.A., in its capacity as agent for the Guaranteed Secured Parties (in such capacity herein, the “Agent”) and for the benefit of such Guaranteed Secured
Parties in connection with that certain Third Amended and Restated Guaranty Agreement dated as of September 18, 2020 among the Agent, DARLING INGREDIENTS INC. (the “Parent Borrower”) and the Subsidiary Loan Parties party
thereto (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Guaranty Agreement”, and capitalized terms not otherwise defined herein being used herein as defined in the Guaranty
Agreement). 
 The Guarantor is a newly formed, established or acquired Restricted Subsidiary and is required to execute this Agreement
pursuant to the terms of the Credit Agreement. 
 NOW THEREFORE, in consideration of the premises and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Guarantor hereby agrees as follows: 
 The Guarantor hereby assumes all
the obligations of a “Guarantor” under the Guaranty Agreement and agrees that from and after the date hereof it is a “Guarantor” and bound as a “Guarantor” under the terms of the Guaranty Agreement as if it had been an
original signatory thereto. In accordance with the forgoing and for valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Guarantor irrevocably and unconditionally guarantees to the Agent and the Guaranteed Secured
Parties the full and prompt payment and performance of the Guaranteed Indebtedness upon the terms and conditions set forth in the Guaranty Agreement. 

The Guarantor represents and warrants to the Agent and the Lenders that the representations and warranties in Section 3.01, 3.02 and 3.03
of the Credit Agreement to the extent relating to it are true and correct in all material respects as of the date hereof. 
 [INSERT
ADDITIONAL LOCAL LAW GUARANTEE LIMITATIONS TO THE EXTENT APPLICABLE]1 
 This Agreement
shall be deemed to be part of, and a modification to, the Guaranty Agreement and shall be governed by all the terms and provisions of the Guaranty Agreement, which terms are incorporated herein by reference, are ratified and confirmed and shall
continue in full force and effect as valid and binding agreements of the Guarantor, enforceable against the Guarantor. The Guarantor hereby waives notice of the Agent’s or any Lender’s acceptance of this Agreement. 

This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York. 

THE UNDERSIGNED HEREBY IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE EXCLUSIVE JURISDICTION OF ANY FEDERAL OR
STATE COURT LOCATED IN THE BOROUGH OF MANHATTAN IN THE CITY OF NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO ANY LOAN DOCUMENT (EXCLUDING THE ENFORCEMENT OF THE SECURITY DOCUMENTS TO
THE EXTENT SUCH SECURITY 
  

	1 	 To the extent the jurisdiction of formation of the Guarantor requires additional guarantee limitations, the
Guarantor and the Agent shall negotiate such provisions in good faith at the time of entry into such guaranty supplement. 

  
 Page 18 

 
DOCUMENTS EXPRESSLY PROVIDE OTHERWISE), OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND EACH OF SUCH PARTIES HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY AGREES THAT ALL CLAIMS IN RESPECT
OF ANY SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE OR, TO THE EXTENT PERMITTED BY LAW, IN SUCH FEDERAL COURT. THE UNDERSIGNED AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY
BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. 
 The Guarantor hereby irrevocably and
unconditionally undertakes to pay to the Administrative Agent as creditor in its own right and not as representative of the other Secured Parties, its Parallel Debt (as defined in the Credit Agreement). Section 10.19 (Parallel Debt (Covenant to
pay the Administrative Agent)) of the Credit Agreement is incorporated herein by reference and shall be deemed to be part of the Guaranty Agreement and the terms thereof shall constitute valid and binding agreements of the Guarantor, enforceable
against the Guarantor. 

  
 Page 19 

 IN WITNESS WHEREOF, the Guarantor has executed this Agreement as of the day and year first
written above. 
  

			
	[GUARANTOR]
		
	By:	 	 
		 	Name:
		 	Title:

  
 Page 20Exhibit 10.1 

 

VOTING AGREEMENT

 

This Voting Agreement
(this “Agreement”), dated as of September [__], 2020 is entered into by and between the undersigned stockholder
(“Stockholder”) of Torotel, Inc., a Missouri corporation (the “Company”), and TT Group Industries,
Inc., a Delaware corporation (“Parent”). Parent and Stockholder are each sometimes referred to herein individually
as a “Party” and collectively as the “Parties.”

 

RECITALS

 

WHEREAS, concurrently
with or following the execution of this Agreement, the Company, Parent, and Thunder Merger Sub, Inc., a Missouri corporation and
wholly owned subsidiary of Parent (“Merger Sub”), have entered, or will enter, into an Agreement and Plan of
Merger (as the same may be amended from time to time, the “Merger Agreement”), providing for, among other things,
the merger (the “Merger”) of Merger Sub and the Company pursuant to the terms and conditions of the Merger Agreement;

 

WHEREAS, in order to
induce Parent to enter into the Merger Agreement, Stockholder is willing to make certain representations, warranties, covenants,
and agreements as set forth in this Agreement with respect to the shares of common stock, par value $0.01 per share, of the Company
(“Company Common Stock”) Beneficially Owned by Stockholder and set forth below Stockholder’s signature
on the signature page hereto (the “Original Shares” and, together with any additional shares of Company Common
Stock pursuant to Section 6 hereof, the “Shares”); and

 

WHEREAS, as a condition
to its willingness to enter into the Merger Agreement, Parent has required that Stockholder, and Stockholder has agreed to, execute
and deliver this Agreement.

 

NOW, THEREFORE, in
consideration of the foregoing and the respective representations, warranties, covenants, and agreements set forth below and for
other good and valuable consideration, the receipt, sufficiency, and adequacy of which are hereby acknowledged, the Parties hereto,
intending to be legally bound, do hereby agree as follows:

 

1. Definitions.
For purposes of this Agreement, capitalized terms used and not otherwise defined herein shall have the respective meanings ascribed
to such terms in the Merger Agreement. When used in this Agreement, the following terms in all of their tenses, cases, and correlative
forms shall have the meanings assigned to them in this Section 1.

 

“Beneficially
Own” or “Beneficial Ownership” has the meaning assigned to such term in Rule 13d-3 under the Exchange
Act, and a Person’s beneficial ownership of securities shall be calculated in accordance with the provisions of such rule
(in each case, irrespective of whether or not such rule is actually applicable in such circumstance). For the avoidance of doubt,
 “Beneficially Own” and “Beneficial Ownership” shall also include record ownership of securities.

 

“Beneficial
Owner” shall mean the Person who Beneficially Owns the referenced securities.

 

2. Representations
of Stockholder. Stockholder represents and warrants to Parent that:

 

(a) Ownership
of Shares. Stockholder: (i) is the Beneficial Owner of all of the Original Shares free and clear of any proxy, voting restriction,
adverse claim, or other Liens, other than those created by this Agreement or under applicable federal or state securities laws;
and (ii) has the sole voting power over all of the Original Shares. Except pursuant to this Agreement, there are no options, warrants,
or other rights, agreements, arrangements, or commitments of any character to which Stockholder is a party relating to the pledge,
disposition, or voting of any of the Original Shares and there are no voting trusts or voting agreements with respect to the Original
Shares.

 

    

     

    

 

(b) Disclosure
of All Shares Owned. Stockholder does not Beneficially Own any shares of Company Common Stock other than the Original Shares.

 

(c) Power and
Authority; Binding Agreement. Stockholder has full power and authority and legal capacity to enter into, execute, and deliver
this Agreement and to perform fully Stockholder’s obligations hereunder. This Agreement has been duly and validly executed
and delivered by Stockholder and constitutes the legal, valid, and binding obligation of Stockholder, enforceable against Stockholder
in accordance with its terms.

 

(d) No Conflict.
The execution and delivery of this Agreement by Stockholder does not, and the consummation of the transactions contemplated hereby
and the compliance with the provisions hereof will not, conflict with or violate any Law applicable to Stockholder or result in
any breach of or violation of, or constitute a default (or an event that with notice or lapse of time or both would become a default)
under, or give to others any rights of termination, amendment, acceleration, or cancellation of, or result in the creation of any
Lien on any of the Shares pursuant to, any agreement or other instrument or obligation binding upon Stockholder or any of the Shares.

 

(e) No Consents.
No consent, approval, Order, or authorization of, or registration, declaration, or filing with, any Governmental Entity or any
other Person on the part of Stockholder is required in connection with the valid execution and delivery of this Agreement. No consent
of Stockholder’s spouse is necessary under any “community property” or other laws in order for Stockholder to
enter into and perform its obligations under this Agreement.

 

(f) No Litigation.
There is no action, suit, investigation, or proceeding (whether judicial, arbitral, administrative, or other) (each an “Action”)
pending against, or, to the knowledge of Stockholder, threatened against or affecting, Stockholder that could reasonably be expected
to materially impair or materially adversely affect the ability of Stockholder to perform Stockholder’s obligations hereunder
or to consummate the transactions contemplated by this Agreement on a timely basis.

 

3. Agreement
to Vote and Approve. Stockholder irrevocably and unconditionally agrees during the term of this Agreement, at any annual or
special meeting of the Company called with respect to the following matters, and at every adjournment or postponement thereof,
and on every action or approval by written consent or consents of the Company stockholders with respect to any of the following
matters, to vote or cause the holder of record to vote the Shares: (i) in favor of (A) the Merger Agreement and the Merger and
the other transactions contemplated by the Merger Agreement, and (B) any proposal to adjourn or postpone such meeting of stockholders
of the Company to a later date if there are not sufficient votes to approve the Merger; and (ii) against (X) any Takeover Proposal,
Company Acquisition Agreement, or any of the transactions contemplated thereby, (Y) any action, proposal, transaction, or agreement
which could reasonably be expected to result in a breach of any covenant, representation or warranty, or any other obligation or
agreement of the Company under the Merger Agreement or of Stockholder under this Agreement, and (Z) any action, proposal, transaction,
or agreement that could reasonably be expected to impede, interfere with, delay, discourage, adversely affect, or inhibit the timely
consummation of the Merger or the fulfillment of Parent’s, the Company’s, or Merger Sub’s conditions under the
Merger Agreement or change in any manner the voting rights of any class of shares of the Company (including any amendments to the
Company Charter Documents).

 

    2

     

    

 

4. No Voting
Trusts or Other Arrangement. Stockholder agrees that during the term of this Agreement Stockholder will not, and will not permit
any entity under Stockholder’s control to, deposit any of the Shares in a voting trust, grant any proxies with respect to
the Shares (other than proxies solicited by the Company Board to approve the Merger or related matters consistent with Section
3 hereof), or subject any of the Shares to any arrangement with respect to the voting of the Shares other than agreements entered
into with Parent.

 

5. Transfer
and Encumbrance. Stockholder agrees that during the term of this Agreement, Stockholder will not, directly or indirectly, transfer,
sell, offer, exchange, assign, pledge, convey any legal or Beneficial Ownership interest in or otherwise dispose of (by merger
(including by conversion into securities or other consideration), by tendering into any tender or exchange offer, by operation
of law, or otherwise), or encumber (“Transfer”) any of the Shares or enter into any contract, option, or other
agreement with respect to, or consent to, a Transfer of, any of the Shares or Stockholder’s voting or economic interest therein.
Any attempted Transfer of Shares or any interest therein in violation of this Section 5 shall be null and void.

 

6. Additional
Shares. Stockholder agrees that all shares of Company Common Stock that Stockholder purchases, acquires the right to vote,
or otherwise acquires Beneficial Ownership of after the execution of this Agreement and prior to the Expiration Time shall be subject
to the terms and conditions of this Agreement and shall constitute Shares for all purposes of this Agreement. In the event of any
stock split, stock dividend, merger, reorganization, recapitalization, reclassification, combination, exchange of shares, or the
like of the capital stock of the Company affecting the Shares, the terms of this Agreement shall apply to the resulting securities
and such resulting securities shall be deemed to be “Shares” for all purposes of this Agreement.

 

7. Waiver of
Appraisal and Dissenters’ Rights. To the extent permitted by Law, Stockholder hereby irrevocably and unconditionally
waives, and agrees not to assert or perfect, any rights of appraisal or rights to dissent in connection with the Merger that Stockholder
may have by virtue of ownership of the Shares.

 

8. Termination.
This Agreement shall terminate upon the earliest to occur of (the “Expiration Time”): (a) the Effective Time;
(b) the date on which the Merger Agreement is terminated in accordance with its terms; and (c) the termination of this Agreement
by mutual written consent of the Parties. Nothing in this Section 8 shall relieve or otherwise limit the liability of any Party
for any intentional breach of this Agreement prior to such termination.

 

9. No Solicitation.
Subject to Section 10, Stockholder shall not, and shall use its reasonable best efforts to cause its Representatives not to: (a)
directly or indirectly solicit, seek, initiate, knowingly encourage, or knowingly facilitate any inquiries regarding, or the making
of, any submission or announcement of a proposal or offer that constitutes, or could reasonably be expected to lead to, any Takeover
Proposal; (b) directly or indirectly engage in, continue, or otherwise participate in any discussions or negotiations regarding,
or furnish or afford access to any other Person any information in connection with or for the purpose of encouraging or facilitating,
any proposal or offer that constitutes, or could reasonably be expected to lead to, any Takeover Proposal; (c) enter into any agreement,
agreement in principle, letter of intent, memorandum of understanding, or similar arrangement with respect to a Takeover Proposal;
(d) solicit proxies with respect to a Takeover Proposal (other than the Merger and the Merger Agreement) or otherwise encourage
or assist any Person in taking or planning any action that could reasonably be expected to compete with, restrain, or otherwise
serve to interfere with or inhibit the timely consummation of the Merger in accordance with the terms of the Merger Agreement;
or (e) initiate a stockholders’ vote or action by written consent of the Company’s stockholders with respect to a Takeover
Proposal.

 

    3

     

    

 

10. No Agreement
as Director or Officer. Stockholder makes no agreement or understanding in this Agreement in Stockholder’s capacity as
a director or officer of the Company or any of its subsidiaries (if Stockholder holds such office), and nothing in this Agreement:
(a) will limit or affect any actions or omissions taken by Stockholder in stockholder’s capacity as such a director or officer,
including in exercising rights under the Merger Agreement, and no such actions or omissions shall be deemed a breach of this Agreement;
or (b) will be construed to prohibit, limit, or restrict Stockholder from exercising Stockholder’s fiduciary duties as an
officer or director to the Company or its stockholders.

 

11. Further
Assurances. Stockholder agrees, from time to time, and without additional consideration, to execute and deliver such additional
proxies, documents, and other instruments and to take all such further action as Parent may reasonably request to consummate and
make effective the transactions contemplated by this Agreement.

 

12. Stop Transfer
Instructions. At all times commencing with the execution and delivery of this Agreement and continuing until the Expiration
Time, in furtherance of this Agreement, Stockholder hereby authorizes the Company or its counsel to notify the Company’s
transfer agent that there is a stop transfer order with respect to all of the Shares (and that this Agreement places limits on
the voting and transfer of the Shares), subject to the provisions hereof and provided that any such stop transfer order and notice
will immediately be withdrawn and terminated by the Company following the Expiration Time.

 

13. Specific
Performance. Each Party hereto acknowledges that it will be impossible to measure in money the damage to the other Party if
a Party hereto fails to comply with any of the obligations imposed by this Agreement, that every such obligation is material and
that, in the event of any such failure, the other Party will not have an adequate remedy at Law or damages. Accordingly, each Party
hereto agrees that injunctive relief or other equitable remedy, in addition to remedies at Law or damages, is the appropriate remedy
for any such failure and will not oppose the seeking of such relief on the basis that the other Party has an adequate remedy at
Law. Each Party hereto agrees that it will not seek, and agrees to waive any requirement for, the securing or posting of a bond
in connection with the other Party’s seeking or obtaining such equitable relief.

 

14. Entire
Agreement. This Agreement supersedes all prior agreements, written or oral, between the Parties hereto with respect to the
subject matter hereof and contains the entire agreement between the Parties with respect to the subject matter hereof. This Agreement
may not be amended or supplemented, and no provisions hereof may be modified or waived, except by an instrument in writing signed
by both of the Parties hereto. No waiver of any provisions hereof by either Party shall be deemed a waiver of any other provisions
hereof by such Party, nor shall any such waiver be deemed a continuing waiver of any provision hereof by such Party.

 

    4

     

    

 

15. Notices.
All notices, requests, consents, claims, demands, waivers and other communications hereunder shall be in writing and shall be deemed
to have been given: (a) when delivered by hand (with written confirmation of receipt); (b) when received by the addressee if sent
by a nationally recognized overnight courier (receipt requested); (c) on the date sent by facsimile or email of a PDF document
(with confirmation of transmission) if sent during normal business hours of the recipient, and on the next Business Day if sent
after normal business hours of the recipient; or (d) on the third day after the date mailed, by certified or registered mail, return
receipt requested, postage prepaid. Such communications must be sent to the respective Parties at the following addresses (or at
such other address for a Party as shall be specified in a notice given in accordance with this Section 15):

 

	If to Parent:  	   	TT Group Industries Inc.

 TT Electronics PLC
 Fourth Floor, St Andrews House
 West Street 

Woking, GU21 6EB, UK 

Attention: Group General Counsel
 Email: lynton.boardman@ttelectronics.com

Telephone: +44 (0) 193-282-5372    
	 	 	 
	with a copy (which will not 

constitute notice to Parent or

 Merger Sub) to:  	   	Crowell & Moring LLP 

1001 Pennsylvania Avenue, NW

 Washington, DC 20004-2595

Attention: Adelicia Cliffe

 Email: acliffe@crowell.com
 Telephone: (202) 262-6932  

  

If to Stockholder, to the address, email
address, or facsimile number set forth for Stockholder on the signature page hereof:

 

	with a copy (which will not

 constitute notice to the 

Company) to:  	   	Bryan Cave Leighton Paisner, LLP 

One Kansas City Place
 1200 Main Street, Suite 3800
 Kansas City, Missouri 64105

 Attention: Kelly Sullivan
 Email: kelly.sullivan@bclplaw.com 

Telephone: (816) 374-3228

 

16. Miscellaneous.

 

(a) Governing
Law. This Agreement, and all Legal Actions (whether based on contract, tort, or statute) arising out of or relating to this
Agreement or the actions of any of the Parties in the negotiation, administration, performance, or enforcement hereof, shall be
governed by and construed in accordance with the internal laws of the State of Missouri without giving effect to any choice or
conflict of law provision or rule (whether of the State of Missouri or any other jurisdiction) that would cause the application
of Laws of any jurisdiction other than those of the State of Missouri.

 

    5

     

    

 

(b) Submission
to Jurisdiction. Each of the Parties hereto irrevocably agrees that any Legal Action 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 State of Missouri, or in the event (but only in the event) that such court does not have subject matter jurisdiction
over such Legal Action, in any state or federal court located within the State of Missouri. Each of the Parties hereto agrees that
mailing of process or other papers in connection with any such Legal Action in the manner provided in Section 15 or in such other
manner as may be permitted by applicable Laws, will be valid and sufficient service thereof. Each of the Parties hereto hereby
irrevocably submits with regard to any such Legal Action 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 or
any of the transactions contemplated by this Agreement in any court or tribunal other than the aforesaid courts. Each of the Parties
hereto hereby irrevocably waives, and agrees not to assert, by way of motion, as a defense, counterclaim, or otherwise, in any
Legal Action 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: (i) any claim that it is not personally
subject to the jurisdiction of the above named courts for any reason other than the failure to serve process in accordance with
this Section 16(b); (ii) 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 (iii) to the fullest extent permitted by the applicable Law, any claim that
(x) the suit, action, or proceeding in such court is brought in an inconvenient forum, (y) the venue of such suit, action, or proceeding
is improper, or (z) this Agreement, or the subject matter hereof, may not be enforced in or by such courts.

 

(c) Waiver of
Jury Trial. EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE
COMPLICATED AND DIFFICULT ISSUES AND, THEREFORE, EACH SUCH PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO
A TRIAL BY JURY IN RESPECT OF ANY LEGAL ACTION ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY
THIS AGREEMENT. EACH PARTY TO THIS AGREEMENT CERTIFIES AND ACKNOWLEDGES THAT: (I) NO REPRESENTATIVE OF ANY OTHER PARTY HAS REPRESENTED,
EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT SEEK TO ENFORCE THE FOREGOING WAIVER IN THE EVENT OF A LEGAL ACTION; (II)
SUCH PARTY HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER; (III) SUCH PARTY MAKES THIS WAIVER VOLUNTARILY; AND (IV) SUCH PARTY
HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 16(C).

 

(d) Expenses.
All costs and expenses incurred in connection with this Agreement shall be paid by the Party incurring such cost or expense, whether
or not the Merger is consummated.

 

(e) Severability.
If any term or provision of this Agreement is invalid, illegal, or unenforceable in any jurisdiction, such invalidity, illegality,
or unenforceability shall not affect any other term or provision of this Agreement or invalidate or render unenforceable such term
or provision in any other jurisdiction. Upon such determination that any term or other provision is invalid, illegal, or unenforceable,
the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as
closely as possible in a mutually acceptable manner in order that the transactions contemplated hereby be consummated as originally
contemplated to the greatest extent possible.

 

(f) Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together
shall constitute one and the same instrument.

 

(g) Section Headings.
All section headings herein are for convenience of reference only and are not part of this Agreement, and no construction or reference
shall be derived therefrom.

 

    6

     

    

 

(h) Assignment.
Neither Party to this Agreement may assign any of its rights or obligations under this Agreement without the prior written consent
of the other Party hereto, except that Parent may assign, in its sole discretion, all or any of its rights, interests and obligations
hereunder to any of its Affiliates. Subject to the preceding sentence, this Agreement will be binding upon, inure to the benefit
of and be enforceable by the Parties and their respective permitted successors and assigns. Any assignment contrary to the provisions
of this Section 16(h) shall be null and void.

 

(i) No Third-Party
Beneficiaries. Nothing in this Agreement, express or implied, is intended to or shall confer upon any Person other than the
Parties and their respective successors and permitted assigns any legal or equitable right, benefit, or remedy of any nature under
or by reason of this Agreement

 

[SIGNATURE PAGE FOLLOWS]

 

    7

     

    

 

 

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

 

	 	PARENT
	 	 
	 	By:	 
	 	 
	 	Name:
	 	 
	 	Title:
	 	 
	 	STOCKHOLDER
	 	 
	 	By:	 
	 	 
	 	Name:
	 	 
	 	Number of Shares of Company Common Stock Beneficially Owned as of the date of this
	 	 
	 	Agreement:
	 	 
	 	Street Address:
	 	 
	 	City/State/Zip Code:
	 	 
	 	Fax:
	 	 
	 	Email:

  

[Signature Page to Voting Agreement]

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