Document:

Exhibit

Exhibit 10.1

FIFTH AMENDMENT TO CREDIT AGREEMENT 

THIS FIFTH AMENDMENT TO CREDIT AGREEMENT, dated as of December 19, 2017 (this “Amendment”), is entered into among Molina Healthcare, Inc., a Delaware corporation (the “Borrower”), the Guarantors party hereto, the Lenders party hereto, and SunTrust Bank, in its capacity as Administrative Agent (the “Administrative Agent”).  Capitalized terms used herein and not otherwise defined shall have the meanings ascribed thereto in the Credit Agreement (as defined below).

RECITALS

WHEREAS, the Borrower, the Guarantors, the Lenders and the Administrative Agent are parties to that certain Credit Agreement, dated as of June 12, 2015 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”); and

WHEREAS, the Borrower has requested, and the Required Lenders have agreed, to amend the Credit Agreement as set forth herein.
NOW, THEREFORE, in consideration of the agreements contained herein and in the Credit Agreement, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

AGREEMENT

1.    Amendments to the Credit Agreement. 

1.1    The new defined term “364 Day Bridge Senior Unsecured Indebtedness” is added to Section 1.1 in the proper alphabetical order to read as follows:

“364 Day Bridge Senior Unsecured Indebtedness” means any unsecured bridge facility incurred by the Borrower no later than February 28, 2018 in an aggregate amount not to exceed $550,000,000 with a maturity of 364 days and any extension, renewal or refinancing thereof, which may be used to (i) fund any required repurchases of the 2020 Convertible Notes, (ii) repay any Indebtedness used to fund any required repurchases of the 2020 Convertibles Notes, (iii) repay the Obligations and (iv) pay any fees, expenses and other transaction costs incurred in connection therewith. 

1.2    Section 7.1 is amended by (i) deleting the “and” at the end of clause (j), (ii) replacing the “.” at the end of clause (k) with “; and” and (iii) adding a new clause (l) to the end of Section 7.1 to read as follows:
    
(l)    the 364 Day Bridge Senior Unsecured Indebtedness.

1.3    Section 7.13(b) is amended and restated to read as follows:

(b)    The Borrower will not, and will not permit any of its Restricted Subsidiaries to, make any payment (including any payment at maturity), exchange or redemption of the 2020 Convertible Notes or the 2044 Convertible Notes, unless before and after giving effect to any such repayment or redemption, no Default or Event of Default shall have occurred and be continuing; provided, that the Borrower may use the proceeds of the 364 Day Bridge Senior Unsecured Indebtedness to repurchase the 2020 Convertible Notes whether or not a Default or Event of Default has occurred or is continuing. 

2.    Effectiveness; Conditions Precedent.  This Amendment shall be effective as of the date on which the Administrative Agent has received a copy of this Amendment, duly executed by the Borrower, the Guarantors, the Required Lenders and the Administrative Agent. 

Exhibit 10.1

3.    Amendment is a “Loan Document”.  This Amendment shall be deemed to be, and is, a Loan Document and all references to a “Loan Document” in the Credit Agreement and the other Loan Documents (including, without limitation, all such references in the representations and warranties in the Credit Agreement and the other Loan Documents) shall be deemed to include this Amendment.

4.    Representations and Warranties; No Default.  Each Loan Party hereby represents and warrants to the Administrative Agent, each Lender, the Swingline Lender and the Issuing Bank that, (a) the representations and warranties of each Loan Party contained in the Credit Agreement, any other Loan Document, or any document furnished at any time under or in connection with the Credit Agreement or any other Loan Document, are true and correct in all material respects (other than any representation and warranty that is expressly qualified by materiality, in which case such representation and warranty is 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 material respects (other than any representation and warranty that is expressly qualified by materiality, in which case such representation and warranty is true and correct in all respects) as of such earlier date and (b) no Default or Event of Default exists.

5.    Reaffirmation of Obligations.  Each Loan Party (a) acknowledges and consents to all of the terms and conditions of this Amendment, (b) affirms all of its obligations under the Loan Documents (as amended by this Amendment) and (c) agrees that this Amendment and all documents, agreements and instruments executed in connection with this Amendment do not operate to reduce or discharge such Loan Party’s obligations under the Loan Documents (except to the extent such obligations are modified pursuant to this Amendment).

6.    No Other Changes.  Except as modified hereby, all of the terms and provisions of the Loan Documents shall remain in full force and effect and nothing herein shall limit or waive any right, power or remedy of the Administrative Agent or the Lenders under the Loan Documents. 

7.    Counterparts; Delivery.  This Amendment may be executed in counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument.  Delivery of an executed counterpart of a signature page of this Amendment by facsimile transmission or by any other electronic imaging means (including .pdf), shall be effective as delivery of a manually executed counterpart of this Amendment.

8.    Fees and Expenses.  The Borrower agrees to pay all reasonable out-of-pocket fees and expenses of the Administrative Agent in connection with the preparation, execution and delivery of this Amendment, including without limitation the reasonable fees and expenses of Moore & Van Allen, PLLC, counsel to the Administrative Agent.

9.    Governing Law.  THIS AMENDMENT AND ANY CLAIMS, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER IN CONTRACT OR TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS AMENDMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAW (WITHOUT GIVING EFFECT TO THE CONFLICT OF LAW PRINCIPLES THEREOF EXCEPT FOR SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW) OF THE STATE OF NEW YORK. 

[SIGNATURE PAGES FOLLOW]

2

Exhibit 10.1

IN WITNESS WHEREOF, the parties hereto have caused this Fifth Amendment to Credit Agreement to be duly executed as of the date first above written.
		
	BORROWER:
	MOLINA HEALTHCARE, INC.,

a Delaware corporation
By:                                                                        
Name:  
Title:   
		
	GUARANTORS:
	MOLINA INFORMATION SYSTEMS, LLC, 

a California limited liability company

By:                                                                            
Name:  
Title:   
MOLINA PATHWAYS LLC, 
a Delaware limited liability company

By:                                                                           
Name:  
Title:   
PATHWAYS HEALTH AND COMMUNITY SUPPORT LLC, 
a Delaware limited liability company

By:                                                                           
Name:  
Title:    

Exhibit 10.1

		
	ADMINISTRATIVE
	SUNTRUST BANK,

		
	AGENT:
	as Administrative Agent

By:                                                                           
Name:
Title:

LENDERS:                    SUNTRUST BANK, 
as Issuing Bank, as Swingline Lender and as a Lender

By:                                                                                            
Name:
Title:

BANK OF AMERICA, N.A.

By:                                                                                        
Name:
Title:

WELLS FARGO BANK, NATIONAL ASSOCIATION.

By:                                                                                       
Name:
Title:

BOKF, N.A. dba BANK OF ALBUQUERQUE

By:                                                                                        
Name:
Title:

EAST WEST BANK

By:                                                                                        
Name:
Title:

MUFG UNION BANK, N.A. 

By:                                                                                         
Name:
Title:

UBS AG, STAMFORD BRANCH 

By:                                                                                        
Name:
Title:

Exhibit 10.1

[Signature pages continue]

U.S. BANK NATIONAL ASSOCIATION

By:                                                                                        
Name:
Title:

BARCLAYS BANK PLC

By:                                                                                         
Name:
Title:

JPMORGAN CHASE BANK, N.A.

By:                                                                                        
Name:
Title:
 
MORGAN STANLEY SENIOR FUNDING, INC.

By:                                                                                       
Name:
Title:Blueprint

 

Exhibit
10.62

 

August
1, 2017

 

 

Mr.
Craig Brewer

Chief
Executive Officer

Kure
Corp

Westinghouse
Blvd

Charlotte,
NC

 

 

Re:
Advisory Agreement

 

 

Dear
Mr. Brewer:

 

Pursuant
to this advisory agreement (“Agreement”) Kure Corp a
Florida corporation (the “Client”) has agreed to engage
Level Brands Inc, a North Carolina company (“LEVEL”),
on a non-exclusive basis, to perform services related to business
advisory matters pursuant to the terms and conditions set forth
herein.

 

1. 

Services. LEVEL shall act as
advisor to the Client and perform, as requested by the Client, the
following services (the “Services”):

a. 

for the conversion
of approximately $2 million in franchise store operations into
company stores;

b. 

for the conversion
of approximately $1.3 million of debt into common
stock;

c. 

for the conversion
of approximately $1.7 million preferred shares into common
stock;

d. 

helping the company
prepare its audited financial statements;

e. 

the implementation
of a strategic plan for the Client, with a view towards enabling
the Client to achieve its financial goals, marketing, business
development with respect to Reg A+ offering in the amount of $10
million.

 

2. 

Performance of Services. LEVEL
shall be obligated to provide the Services as and when requested by
the Client and shall not be authorized or obligated to perform any
services on LEVEL’s own initiative. The services shall be
performed reasonably promptly after Client’s request,
consistent with LEVEL’s availability. It is understood that
the Services to be provided hereunder are not exclusive to the
Client and LEVEL has other business obligations, including acting
as consultant for other companies, provided, however, that LEVEL
shall not provide services to any potential or actual competitor of
the Client during the Term (as hereinafter defined) of this
Agreement.

 

3. 

Relationship of the Parties.
LEVEL shall be, and at all times during the Term of the Agreement,
remain an independent contractor. As such, LEVEL shall determine
the means and methods of performing the Services hereunder and
shall render the Services as such places it determines. The Client
shall pay all reasonable costs and expenses incurred by LEVEL in
the performance of its duties hereunder, provided, however, such
costs and expenses shall not exceed $2500.00 without the
Client’s prior written approval.

 

4. 

Assurances. Client acknowledges
that all options and advices (written or oral) given by LEVEL to
the Client in connection with this Agreement are intended solely
for the benefit and use of Client, and Client agrees that no person
or entity other than the Client shall be entitled to make use of or
rely upon the advice of LEVEL to be given hereunder. Furthermore,
no such opinion or advice given by LEVEL

 

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shall
be used at any time, in any manner or for any purpose, and shall
not be reproduced, disseminated, quoted or referred to at any time,
in any manner or for any purpose, except as may be contemplated
herein. Client shall not make any public references to LEVEL
without LEVEL’s prior written consent or as required by
applicable law.

 

5. 

Compensation. LEVEL shall
receive fee of $200,000, for the services with respect to Sections
1a, 1b and 1c above which shall be completed by September 30, 2017.
This fee shall be paid in the form of 400,000 shares of Kure Corp.
common stock, valued at the same price as the terms of conversion
of franchises, debt and preferred shares, which is hereby
established at $.50 per share. LEVEL shall receive fee of $200,000,
for the services with respect to Sections 1d, and 1e above which
shall be completed by June 30, 2018. This fee shall be due in cash
and shall be payable as services are rendered and agreed to by both
parties.

 

6. 

Additional Services. Should
Client desire LEVEL to perform additional services not outlined
herein, Client may make such request to LEVEL in writing. LEVEL may
agree to perform those services at its sole discretion. However,
any additional services performed by LEVEL may require an
additional compensation schedule to be mutually agreed upon prior
to rendering such services.

 

7. 

Term. This Agreement shall be
binding upon all parties when executed by the Client and remain in
effect until June 30, 2018, unless otherwise mutually agreed upon
in writing by Client and LEVEL (the
“Term”).

 

8. 

Due Diligence /
Disclosure.

a. 

Client recognizes
and confirms that, in advising Client and in fulfilling its
retention hereunder, LEVEL will use and rely upon data, material
and other information furnished to it by Client. Client
acknowledges and agrees that in performing its Services under this
agreement, LEVEL may rely upon the data, material and other
information supplied by Client without independently verifying the
accuracy, completeness or veracity of it.

b. 

Except as
contemplated by the terms hereof or as required by applicable law,
LEVEL shall keep confidential, indefinitely, all non-public
information provided to it by Client, and shall not disclose such
information to any third party without Client’s prior written
consent, other than such of its employees and advisors as LEVEL
reasonably determines to have a need to know.

 

9. 

Indemnification.

a. 

Client shall
indemnify and hold LEVEL, its officers, directors, employees,
agents, and affiliates, harmless against any and all liabilities,
claims, lawsuits, including any and all awards and/or judgments to
which it may become subject under the Act or the Securities
Exchange Act of 1934, as amended (the “Exchange Act”)
or any other federal or state statute, at common law or otherwise,
insofar as said liabilities, claims and lawsuits, (including awards
and /or judgments) arise out of or are in connection with the
Services rendered by LEVEL in connection with this Agreement,
except for any liabilities, claims, and lawsuits (including awards,
judgments and related costs and expenses), arising out of acts or
omissions of LEVEL. In addition, the Client shall indemnify and
hold LEVEL harmless against any and all reasonable costs and
expenses, including reasonable attorney fees, incurred or relating
to the foregoing. If it is judicially determined that Client will
not be responsible for any liabilities, claims and lawsuits or
expenses related thereto, the indemnified party, by his or its
acceptance of such amounts, agrees to repay Client all amounts
previously paid by client to the indemnified person and will pay
all costs of collection thereof, including but not limited to
reasonable attorney’s fees related thereto. LEVEL shall give
Client prompt notice of any such liability, claim or lawsuit, which
LEVEL contends is the subject matter
of Client’s indemnification and LEVEL thereupon shall be
granted the right to

 

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take
any and all necessary proper action, at its sole cost and expense,
with respect to such liability, claim and lawsuit, including the
right to settle, compromise and dispose of such liability, claim or
lawsuit, excepting there from any and all proceedings or hearings
before any regulatory bodies and / or authorities.

b. 

LEVEL shall
indemnify and hold Client and its directors, officers, employees
and agents harmless against any and all liabilities, claims and
lawsuits, including and all award and/ or judgments to which it may
become subject under the Act, Exchange Act or any other federal or
state statute, at common law or otherwise, insofar as said
liabilities, claims and lawsuits (including awards and/ or
judgments) that may arise out of or are based upon LEVEL’s
gross negligence or willful misconduct, or any untrue statement or
alleged untrue statement of a material fact or omission of a
material fact required to be slated or necessary to make the
statement provided by LEVEL not misleading, which statement or
omission was made in reliance upon information furnished in writing
to Client by or on behalf of LEVEL for inclusion in any
registration statement or prospectus or any amendment or supplement
thereto in connection with any transaction to which the Agreement
applies. In addition, LEVEL shall also indemnify and hold Client
harmless against any and all costs and expenses, including
reasonable attorney fees, incurred or relating to the foregoing.
Client shall give LEVEL prompt notice of any such liability, claim
or lawsuit which Client contends is the subject matter of
LEVEL’s indemnification and LEVEL thereupon shall be granted
the right to take any and all necessary proper action, at its sole
cost and expense, with respect to such liability, claim and
lawsuit, including the right to settle, compromise or dispose of
such liability, claim or lawsuit, excepting therefrom any and all
proceedings or hearings before any regulatory bodies and/ or
authorities.

c. 

The indemnification
provisions contained in this Section are in addition to any other
rights or remedies which either party hereto may have with respect
to the other or hereunder

 

10. 

General
Provisions.

a. 

Entire Agreement.
This between Client and LEVEL constitutes the entire agreement
between and understandings of the parties hereto, and supersedes
any and all previous agreements and understandings, whether oral or
written, between the parties with respect to the matters set forth
herein.

b. 

Notice. Any notice
or communication permitted or required hereunder shall be in
writing and deemed sufficiently given if hand-delivered: (i) five
(5) calendar days after being sent postage prepaid by registered
mail, return receipt requested; or (ii) one (1) business day after
being sent via facsimile with confirmatory notice by U.S. mail, to
the respective parties as set forth above, or to such other address
as either party may notify the other in writing.

c. 

Binding Nature.
This Agreement shall be binding upon and inure the benefit of each
of the parties hereto and their respective successors, legal
representatives and assigns. All materials generated pursuant to
this Agreement or otherwise produce by LEVEL for and on behalf of
Client during the Term of this Agreement shall be the sole and
exclusive property of Client.

d. 

Counterparts. This
Agreement may be executed by any number of counterparts, each of
which together shall constitute the same original
document.

e. 

Amendments. No
provisions of the Agreement may be amended, modified or waived,
except in writing signed by all parties hereto.

f. 

Assignment. This
Agreement cannot be assigned or delegated, by either party, without
the prior written consent of the party to be charged with such
assignment or delegation, and any unauthorized assignments shall be
null and void without effect and shall immediately terminate the
Agreement.

g. 

Applicable Law.
This Agreement shall be construed in accordance with and governed
by the laws of the State of North Carolina, without giving effect
to its conflict of law principles. The parties hereby agree that
any dispute(s) or claim(s) with respect to this Agreement of the
performance of any obligations thereunder, shall be settled by
arbitration and commenced and adjudicated under

 

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the
rules of the American Arbitration Association. The arbitration
shall take place in Charlotte, North Carolina if commenced by
either party. The arbitration shall be conducted before a panel of
three (3) arbitrators, one appointed by each of the parties and the
third selected by the two (2) appointed arbitrators. The
arbitrators in any arbitration proceeding to enforce the Agreement
shall allocate reasonable attorney’s fees, among one or both
parties in such proportion as the arbitrators shall determine
represents each party’s liability hereunder. The decision of
the arbitrator shall be final and binding and may be entered into
any court having proper jurisdiction to obtain a judgment for the
prevailing party. In any proceeding to enforce an arbitration
award, the prevailing party in such proceeding shall have the right
to collect from the non-prevailing party, its reasonable fees and
expenses incurred in enforcing the arbitration award (including,
without limitation, reasonable attorney’s fees).

 

If you
are in agreement with the foregoing, please execute two (2) copies
of this Agreement in the space provided below and return them to
the undersigned.

 

Very
truly yours,

Level
Brands, Inc.

 

By:
_____________________________

Mark
Elliott

CFO

 

 

Kure
Corp

 

By:
_____________________________

Craig
Brewer

CEO

 

 

 

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