Document:

Exhibit 10.2

GUARANTEE AND SECURITY AGREEMENT

 

GUARANTEE AND SECURITY
AGREEMENT dated as of October [ ], 2017 (this “Agreement”), among STELLUS CAPITAL INVESTMENT CORPORATION,
a corporation duly organized and validly existing under the laws of the State of Maryland (the “Borrower”);
SCIC – ERC Blocker 1, Inc., a Delaware corporation (“ERC”), SCIC – SKP Blocker 1, Inc., a
Delaware corporation (“SKP”), SCIC – APE Blocker 1, Inc., a Delaware corporation (“APE”),
SCIC – HUF Blocker 1, Inc., a Delaware corporation (“HUF”), SCIC – Hollander Blocker 1, Inc.,
a Delaware corporation (“Hollander”), SCIC – CC Blocker 1, Inc., a Delaware corporation (“CC”),
SCIC – Consolidated Blocker, Inc., a Delaware corporation (“Consolidated”), and SCIC – ASC
Blocker 1, Inc., a Delaware corporation (“ASC”), and each entity that becomes a “SUBSIDIARY GUARANTOR”
after the date hereof pursuant to Section 7.04 hereof (collectively, together with ERC, SKP, APE, HUF, Hollander,
CC, Consolidated, and ASC, the “Subsidiary Guarantors” and, together with the Borrower, the “Obligors”);
ZB, N.A. dba AMEGY BANK, as administrative agent for the parties defined as “Lenders” under the Credit Agreement referred
to below (in such capacity, together with its successors in such capacity, the “Administrative Agent”);
and ZB, N.A. dba AMEGY BANK, as collateral agent for the Secured Parties hereinafter referred to (in such capacity, together with
its successors in such capacity, the “Collateral Agent”).

 

WITNESSETH:

 

WHEREAS, concurrently
with the execution and delivery of this Agreement, the Borrower, certain lenders and the Administrative Agent are entering into
a Senior Secured Revolving Credit Agreement dated as of the date hereof (the “Credit Agreement”), pursuant
to which such lenders have agreed to extend credit (by means of loans and letters of credit) to the Borrower from time to time;

 

WHEREAS, to induce
such lenders to extend credit to the Borrower under the Credit Agreement, the Borrower wishes to provide (a) for certain of its
Subsidiaries from time to time to become parties hereto and to guarantee the payment of the Guaranteed Obligations (as hereinafter
defined), and (b) for the Borrower and the Subsidiary Guarantors to provide collateral security for the Secured Obligations (as
hereinafter defined);

 

WHEREAS, the Administrative
Agent (on behalf of itself and such lenders) is or will be entering into this Agreement for the purpose of setting forth its respective
rights to the Collateral (as hereinafter defined); and

 

WHEREAS, the Obligors
and the Secured Parties agree that the Collateral Agent shall administer the Collateral, and the Collateral Agent is willing to
so administer the Collateral pursuant to the terms and conditions set forth herein;

 

NOW THEREFORE, the
parties hereto agree as follows:

 

Section 1. Definitions,
Etc.

 

1.01. Certain Uniform
Commercial Code Terms. As used herein, the terms “Account”, “Chattel Paper”, “Commodity Account”,
“Commodity Contract”, “Deposit Account”, “Document”, “Electronic Chattel Paper”,
“General Intangible”, “Instrument”, “Investment Property”, “Letter-of-Credit Right”,
“Proceeds”, “Promissory Note” and “Tangible Chattel Paper” have the respective meanings set
forth in Article 9 of the NYUCC, and the terms “Certificated Security”, “Clearing Corporation”, “Entitlement
Holder”, “Financial Asset”, “Indorsement”, “Securities Account”, “Security”,
“Security Entitlement” and “Uncertificated Security” have the respective meanings set forth in Article
8 of the NYUCC.

 

      

     

    

  

1.02. Additional
Definitions. In addition, as used herein:

 

“Acceleration”
means the Secured Obligations of any Secured Party having been declared (or become) due and payable following a default by the
Borrower and expiration of any applicable grace period with respect thereto.

 

“Acceleration
Notice” has the meaning specified in Section 8.01.

 

“Administrative
Agent” has the meaning given to such term in the preamble.

 

“Agent
Members” means members of, or participants in, a depositary, including the Depositary, Euroclear or Clearstream.

 

“Agreement”
has the meaning given to such term in the preamble.

 

“Appointed
Party” has the meaning specified in Section 5.04.

 

“Borrower”
has the meaning given to such term in the preamble.

 

“Cash Management
Obligations” means the indebtedness, obligations and liabilities of any Obligor to any Lender or any Affiliate of
Lender which provides any Cash Management Products and Services to such Obligor (including all obligations and liabilities owing
in respect of any returned items deposited with such Lender or Affiliate of Lender).

 

“Cash Management
Products and Services” means the following products or services: (a) credit cards, (b) credit card processing
services, (c) debit cards and stored value cards, (d) commercial cards, (e) ACH transactions, and (f) cash
management and treasury management services and products, including controlled disbursement accounts or services, lockboxes, automated
clearinghouse transactions, return items, overdrafts, and interstate depository network services.

 

“CFTC”
means the Commodity Futures Trading Commission.

 

“Clearing
Corporation Security” means a security that is registered in the name of, or Indorsed to, a Clearing Corporation
or its nominee or is in the possession of the Clearing Corporation in bearer form or Indorsed in blank by an appropriate Person.

 

“Clearstream”
means Clearstream Banking, société anonyme, a corporation organized under the laws of the Grand Duchy of Luxembourg.

 

“Clearstream
Security” means a Security that (a) is a debt or equity security and (b) is capable of being transferred to an Agent
Member’s account at Clearstream pursuant to the definition of “Delivery”, whether or not such transfer has occurred.

 

“Collateral”
has the meaning assigned to such term in Section 4.

 

“Collateral
Agent” has the meaning given to such term in the preamble.

 

“Commodity
Exchange Act” means the Commodity Exchange Act (7 U.S.C. § 1 et seq.), as amended, and all related rules,
regulations and published interpretations.

 

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“Control”
means “control” as defined in Section 9-104, 9-105, 9-106 or 9-107 of the NYUCC.

 

“Credit
Agreement” has the meaning given to such term in the recitals.

 

“Credit
Agreement Obligations” means, collectively, all obligations of the Borrower to the Lenders and the Administrative
Agent under the Credit Agreement and the other Loan Documents (as defined in the Credit Agreement), including in each case in respect
of the principal of and interest on the loans made, or letters of credit issued, thereunder, and all fees, indemnification payments
and other amounts whatsoever, whether direct or indirect, absolute or contingent, now or hereafter from time to time owing to the
Administrative Agent or the Lenders or any of them under or in respect of the Credit Agreement and the other Loan Documents (as
defined in the Credit Agreement), and including all interest and expenses accrued or incurred subsequent to the commencement of
any bankruptcy or insolvency proceeding with respect to the Borrower, whether or not such interest or expenses are allowed as a
claim in such proceeding.

 

“Custodian”
means State Street Bank and Trust Company, as custodian holding Investments on behalf of the Obligors, or any successor in such
capacity. The term “Custodian” includes any agent or sub-custodian acting on behalf of the Custodian.

 

“Debt Documents”
means, collectively, the Credit Agreement, any Hedging Agreement evidencing or relating to any Hedging Agreement Obligations and
the Security Documents.

 

“Default”
means any event that with notice or lapse of time or both would become an Event of Default.

 

“Deliver”,
“Delivered” or “Delivery” (whether to the Collateral Agent or otherwise) means,
with respect to any Investment or other Collateral, that such Investment or other Collateral is held, registered or covered by
a recorded UCC-1 financing statement as described below, in each case in a manner satisfactory to the Collateral Agent (it being
understood that, until the Collateral Agent advises the Borrower that it is not satisfied, the conditions set forth below shall
be deemed to have been met):

 

(a)       subject
to clause (m) below, in the case of each Certificated Security (other than a Special Equity Interest, U.S. Government
Security, Clearing Corporation Security, Euroclear Security or Clearstream Security), that such Certificated Security is either
(i) in the possession of the Collateral Agent and registered in the name of the Collateral Agent (or its nominee) or Indorsed to
the Collateral Agent or in blank, or (ii) in the possession of the Custodian and registered in the name of the Custodian (or its
nominee) or Indorsed in blank and the Custodian has credited the same to a Securities Account for which the Custodian is a Securities
Intermediary and has agreed that such Certificated Security constitutes a Financial Asset and that the Collateral Agent has Control
over such Securities Account;

 

(b)       subject
to clause (m) below, in the case of each Instrument, that such Instrument is either (i) in the possession of
the Collateral Agent, or (ii) in the possession of the Custodian where the Custodian has agreed in documentation reasonably satisfactory
to the Collateral Agent to hold such Instrument as bailee on behalf of the Collateral Agent;

 

(c)       subject
to clause (m) below, in the case of each Uncertificated Security (other than a Special Equity Interest, U.S.
Government Security, Clearing Corporation Security, Euroclear Security or Clearstream Security), that such Uncertificated Security
is either (i) registered on the books of the issuer thereof to the Collateral Agent (or its nominee), or (ii) registered on the
books of the issuer thereof to the Custodian (or its nominee) under an arrangement where the Custodian has credited the same to
a Securities Account for which the Custodian is a Securities Intermediary and has agreed that such Uncertificated Security constitutes
a Financial Asset and that the Collateral Agent has Control over such Securities Account;

 

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(d)       subject
to clause (m) below, in the case of each Clearing Corporation Security, that such Clearing Corporation Security
is either (i) credited to a Securities Account of the Collateral Agent at such Clearing Corporation (and, if such Clearing Corporation
Security is a Certificated Security, that the same is in the possession of such Clearing Corporation), or (ii) credited to a Securities
Account of the Custodian at such Clearing Corporation (and, if a Certificated Security, so held in the possession of such Clearing
Corporation, or of an agent or custodian on its behalf) and the Security Entitlement of the Custodian in such Clearing Corporation
Securities Account has been credited by the Custodian to a Securities Account for which the Custodian is a Securities Intermediary
under an arrangement where the Custodian has agreed that such Security constitutes a Financial Asset and that the Collateral Agent
has Control over such Securities Account;

 

(e)       in
the case of each Euroclear Security and Clearstream Security, that the actions described in clause (d) above
have been taken with respect to such Security as if such Security were a Clearing Corporation Security and Euroclear and Clearstream
were Clearing Corporations; provided that such additional actions shall have been taken as shall be necessary under the
law of Belgium (in the case of Euroclear) and Luxembourg (in the case of Clearstream) to accord the Collateral Agent rights substantially
equivalent to Control over such Security under the NYUCC;

 

(f)       in
the case of each U.S. Government Security, that such U.S. Government Security is either (i) credited to a securities account of
the Collateral Agent at a Federal Reserve Bank, or (ii) credited to a Securities Account of the Custodian at a Federal Reserve
Bank and the Security Entitlement of the Custodian in such Federal Reserve Bank Securities Account has been credited by the Custodian
to a Securities Account for which the Custodian is a Securities Intermediary under an arrangement where the Custodian has agreed
that such U.S. Government Security constitutes a Financial Asset and that the Collateral Agent has Control over such Securities
Account;

 

(g)       subject
to clause (m) below, in the case of a Special Equity Interest constituting a Certificated Security, that the
holder of the first Lien on such Certificated Security has possession of such Certificated Security in the United States (which
has been registered in the name of such holder (or its nominee) or Indorsed to such holder or in blank) and has agreed to deliver
the certificates evidencing such Certificated Security directly to the Collateral Agent upon the discharge of such Lien and has
acknowledged that it holds such certificates for the Collateral Agent subject to such Lien (it being understood that, upon receipt
of any such Certificated Security, if so requested by the Borrower, the Collateral Agent shall deliver the same to the Custodian
to be held in accordance with the provisions of clause (a) above) and, in the case of a Special Equity Interest
constituting an Uncertificated Security, that the holder of the first Lien on such Uncertificated Security has been registered
as the holder thereof on the books of the issuer thereof and acknowledged that it holds such Uncertificated Security for the Collateral
Agent subject to such Lien;

 

(h)       in
the case of any Tangible Chattel Paper, that the original of such Tangible Chattel Paper is either (i) in the possession of the
Collateral Agent in the United States or (ii) in the possession of the Custodian in the United States under an arrangement where
the Custodian has agreed to hold such Tangible Chattel Paper as bailee on behalf of the Collateral Agent, and in each case any
agreements that constitute or evidence such Tangible Chattel Paper is free of any marks or notations indicating that it is then
pledged, assigned or otherwise conveyed to any Person other than the Collateral Agent;

 

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(i)       in
the case of each General Intangible (including any participation in a debt obligation, any Commodity Contract and any Commodity
Account) of an Obligor organized in the United States, that such General Intangible falls within the collateral description of
a UCC-1 financing statement, naming the relevant Obligor as debtor and the Collateral Agent as secured party and filed in the jurisdiction
of organization of such relevant Obligor; provided that in the case of a participation in a debt obligation where such participation
obligation is evidenced by an Instrument, either (i) such Instrument is in the possession of the applicable participating institution
in the United States, and such participating institution has agreed that it holds possession of such Instrument for the benefit
of the Collateral Agent (or for the benefit of the Custodian, and the Custodian has agreed that it holds the interest in such Instrument
as bailee on behalf of the Collateral Agent) or (ii) such Instrument is in the possession of the applicable participating institution
outside of the United States and such participating institution (and, if applicable, the obligor that issued such Instrument) has
taken such actions as shall be necessary under the law of the jurisdiction where such Instrument is physically located to accord
the Collateral Agent rights equivalent to Control over such Instrument under the NYUCC;

 

(j)       in
the case of each General Intangible (including any participation in a debt obligation) of an Obligor not organized in the United
States, that such Obligor shall have taken such action as shall be necessary to accord the Collateral Agent rights substantially
equivalent to a perfected first-priority security interest in such General Intangible under the NYUCC;

 

(k)       in
the case of any Deposit Account or Securities Account, that the Collateral Agent has Control over such Deposit Account or Securities
Account, or that such Deposit Account or Securities Account is in the name of the Custodian and the Custodian has credited its
rights in respect of such Deposit Account or Securities Account (the “Underlying Accounts”) to a Securities
Account for which the Custodian is a Securities Intermediary under an arrangement where the Custodian has agreed that the rights
of the Custodian in such Underlying Accounts constitute a Financial Asset and where the Collateral Agent has Control over such
Securities Account;

 

(l)       in
the case of any money (regardless of currency), that such money has been credited to a Deposit Account over which the Collateral
Agent has Control as described in clause (k) above;

 

(m)       in
the case of any Certificated Security, Uncertificated Security, Instrument or Special Equity Interest issued by a Person organized
outside of the United States, that such additional actions shall have been taken as shall be necessary under applicable law to
accord the Collateral Agent rights substantially equivalent to those accorded to a secured party under the NYUCC that has possession
or control of such Certificated Security, Uncertificated Security, Instrument or Special Equity Interest; and

 

(n)       in
the case of each Investment not of a type covered by the foregoing clauses (a) through (m) that such
Investment has been transferred to the Collateral Agent in accordance with applicable law and regulation.

 

“Depositary”
means The Depositary Trust Company, its nominees and their respective successors.

 

“Eligibility
Date” means, with respect to each Hedging Agreement, the date on which this Agreement or any other Loan Document
becomes effective with respect to such Hedging Agreement (for the avoidance of doubt, the Eligibility Date shall be the date of
execution of such Hedging Agreement if this Agreement or any other Loan Document is then in effect and otherwise it shall be the
Effective Date of this Agreement and/or such other Loan Documents). For purposes of this defined term, “Effective Date”
means the date indicated in a document or agreement to be the date on which such document or agreement becomes effective, or, if
there is no such indication, the date of execution of such document or agreement.

 

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“Eligible
Contract Participant” means an “eligible contract participant” as defined in the Commodity Exchange Act
and regulations thereunder.

 

“Euroclear”
means Euroclear Bank, S.A., as operator of the Euroclear system.

 

“Euroclear
Security” means a Security that (a) is a debt or equity Security and (b) is capable of being transferred to an Agent
Member’s account at Euroclear, whether or not such transfer has occurred.

 

“Event
of Default” means any Event of Default as defined in the Credit Agreement.

 

“Excess
Funding Guarantor” has the meaning specified in Section 3.08.

 

“Excess
Payment” has the meaning specified in Section 3.08.

 

“Excluded
Accounts” means (i) any deposit account, securities account or commodities account of any Obligor used solely to
hold Cash or U.S. Government Securities subject to a Lien under any Treasury Credit Facility and (ii) any fiduciary account or
any account for which any Obligor is the servicer or agent for another Person.

 

“Excluded
Hedge Obligations” means with respect to any Obligor, each of its Hedging Agreement Obligations if, and only to the
extent that, all or any portion of this Agreement or any other Loan Document that relates to such Hedging Agreement Obligations
is or becomes illegal under the Commodity Exchange Act, or any rule, regulation or order of the CFTC, solely by virtue of such
Obligor’s failure to qualify as an Eligible Contract Participant on the Eligibility Date for such Hedging Agreement. Notwithstanding
anything to the contrary contained in the foregoing or in any other provision of this Agreement or any other Loan Document, the
foregoing is subject to the following provisos: (a) if any Hedging Agreement Obligations arise under a master agreement governing
more than one Hedging Agreement, this definition shall apply only to the portion of such Hedging Agreement Obligations that is
attributable to Hedging Agreements for which such guaranty or security interest is or becomes illegal under the Commodity Exchange
Act, or any rule, regulations or order of the CFTC, solely as a result of the failure by such Obligor for any reason to qualify
as an Eligible Contract Participant on the Eligibility Date for such Hedging Agreement; (b) if a guarantee of any Hedging Agreement
Obligations would cause such obligation to be an Excluded Hedge Obligation but the grant of a security interest would not cause
such obligation to be an Excluded Hedge Obligation, such Hedging Agreement Obligation shall constitute an Excluded Hedge Obligation
for purposes of the guaranty but not for purposes of the grant of the security interest; and (c) if there is more than one Obligor
executing this Agreement or the other Loan Documents and any Hedging Agreement Obligations would be Excluded Hedge Obligations
with respect to one or more of such Persons, but not all of them, the definition of Excluded Hedge Obligation with respect to each
such Person shall only be deemed applicable to (i) the particular Hedging Agreement Obligations that constitute Excluded Hedge
Obligation with respect to such Person, and (ii) the particular Person with respect to which such Hedging Agreement Obligations
constitute Excluded Hedge Obligation.

 

“Excluded
SBIC Investments” means any Investments in any SBIC Subsidiary; provided, that if any such SBIC Subsidiary shall
at any time cease to be an SBIC Subsidiary pursuant to the definition thereof in the Credit Agreement, the Investments in such
Person shall no longer constitute Excluded SBIC Investments and shall become part of the Collateral hereunder.

 

“Guarantee
Assumption Agreement” means a Guarantee Assumption Agreement substantially in the form of Exhibit A,
between the Collateral Agent and an entity that, pursuant to Section 7.04, is required to become a “Subsidiary
Guarantor” hereunder (with such changes as the Collateral Agent shall reasonably request, consistent with the requirements
of Section 7.04).

 

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“Guaranteed
Obligations” means, collectively, the Credit Agreement Obligations, the Cash Management Obligations, and the Hedging
Agreement Obligations (other than Excluded Hedge Obligations).

 

“Hedge
Provider” means any Person that, at the time it enters into a Hedging Agreement permitted under the Credit Agreement,
is a Lender, an Affiliate of a Lender, Administrative Agent, an Affiliate of Administrative Agent, Collateral Agent, or an Affiliate
of Collateral Agent, in its capacity as a party to such Hedging Agreement.

 

“Hedging
Agreement” means a “Hedging Agreement” as defined in the Credit Agreement.

 

“Hedging
Agreement Obligations” means, collectively, all obligations of any Obligor to any Lender (or any Affiliate thereof)
under any Hedging Agreement, including in each case all fees, indemnification payments and other amounts whatsoever, whether direct
or indirect, absolute or contingent, now or hereafter from time to time owing to such Lender (or any Affiliate thereof) under such
Hedging Agreement, and including all interest and expenses accrued or incurred subsequent to the commencement of any bankruptcy
or insolvency proceeding with respect to such Obligor, whether or not such interest or expenses are allowed as a claim in such
proceeding.

 

“Indemnitee”
has the meaning specified in Section 9.05.

 

“Indorsed”
means, with respect to any Certificated Security, that such Certificated Security has been assigned or transferred to the applicable
transferee pursuant to an effective Indorsement.

 

“Lenders”
means any Lender, or any Issuing Bank or Swingline Lender (in each case as defined in the Credit Agreement), that are from time
to time party to the Credit Agreement.

 

“Non-Qualifying
Party” means any Obligor that on the Eligibility Date fails for any reason to qualify as an Eligible Contract Participant.

 

“NYUCC”
means the Uniform Commercial Code as in effect from time to time in the State of New York.

 

“Obligors”
has the meaning given to such term in the preamble.

 

“Person”
means any natural person, corporation, limited liability company, trust, joint venture, association, company, partnership, Governmental
Authority or other entity.

 

“Pro Rata
Share” has the meaning specified in Section 3.08.

 

“Qualified
ECP Loan Party” means any Obligor if on the Eligibility Date it is (a) a corporation, partnership, proprietorship,
organization, trust or other entity other than a “commodity pool” as defined in Section 1a(10) of the Commodity Exchange
Act and CFTC regulations thereunder that has total assets exceeding $10,000,000, or (b) an Eligible Contract Participant that can
cause another Person to qualify as an Eligible Contract Participant on the Eligibility Date under Section 1a(18)(A)(v)(II) of the
Commodity Exchange Act by entering into or otherwise providing a “letter of credit or keepwell, support, or other agreement”
for purposes of Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.

 

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“Required
Secured Parties” means (a) so long as no Trigger Event has occurred and is continuing, the Required Lenders or (b)
if a Trigger Event shall have occurred and be continuing, Secured Parties holding more than 50% of the aggregate amount of the
Credit Agreement Obligations and the Hedging Agreement Obligations.

 

“Secured
Obligations” means, collectively, (a) in the case of the Borrower, the Credit Agreement Obligations, the Cash Management
Obligations, and the Hedging Agreement Obligations (other than Excluded Hedge Obligations), (b) in the case of the Subsidiary Guarantors,
the obligations of the Subsidiary Guarantors in respect of the Guaranteed Obligations pursuant to Section 3.01
and (c) in the case of all Obligors, all present and future obligations of the Obligors to the Secured Parties, or any of them,
hereunder or under any other Security Document. For the avoidance of doubt, the Secured Obligations shall exclude any Excluded
Hedge Obligations.

 

“Secured
Party” means, collectively, the Lenders, any Hedge Provider, the Administrative Agent and the Collateral Agent.

 

“Security
Documents” means, collectively, this Agreement, all Uniform Commercial Code financing statements filed with respect
to the security interests in the Collateral created pursuant hereto and all other assignments, pledge agreements, security agreements,
control agreements, custodial agreements and other instruments executed and delivered on or after the date hereof by any of the
Obligors pursuant hereto or otherwise providing or relating to any collateral security for any of the Secured Obligations.

 

“Shares”
means shares of capital stock of a corporation, limited liability company interests, partnership interests and other ownership
or equity interests of any class in any Person.

 

“Specified
Actions” has the meaning specified in Section 5.04.

 

“Subsidiary
Guarantors” has the meaning given to such term in the preamble.

 

“Trigger
Event” means any of the following events or conditions:

 

(a)       Acceleration
of Secured Obligations representing 66-2/3% or more of the aggregate Secured Obligations at the time outstanding;

 

(b)       an
involuntary proceeding shall be commenced or an involuntary petition shall be filed seeking (i) liquidation, reorganization or
other relief in respect of any Obligor or its debts, or of a substantial part of its assets, under any Federal or state bankruptcy,
insolvency, receivership or similar law now or hereafter in effect or (ii) the appointment of a receiver, trustee, custodian, sequestrator,
conservator or similar official for any Obligor or for a substantial part of its assets, and, in any such case, such proceeding
or petition shall continue undismissed for a period of 60 or more days or an order or decree approving or ordering any of the foregoing
shall be entered; or

 

(c)       any
Obligor shall (i) voluntarily commence any proceeding or file any petition seeking liquidation, reorganization or other relief
under any Federal or state bankruptcy, insolvency, receivership or similar law now or hereafter in effect, (ii) consent to the
institution of, or fail to contest in a timely and appropriate manner, any proceeding or petition described in clause (b)
above, (iii) apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official
for any Obligor or for a substantial part of its assets, (iv) file an answer admitting the material allegations of a petition filed
against it in any such proceeding, (v) make a general assignment for the benefit of creditors or (vi) take any corporate or other
action for the purpose of effecting any of the foregoing.

 

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1.03. Credit Agreement
Definitions. Unless otherwise defined herein or the context otherwise requires, terms used in this Agreement, including its
preamble and recitals, have the meanings provided in the Credit Agreement.

 

1.04. Terms Generally.
The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context
may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include”,
“includes” and “including” shall be deemed to be followed by the phrase “without limitation”.
The word “will” shall be construed to have the same meaning and effect as the word “shall”. Unless the
context requires otherwise (a) any definition of or reference to any agreement, instrument or other document herein shall be construed
as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject
to any restrictions on such amendments, supplements or modifications set forth herein or therein), (b) any reference herein to
any Person shall be construed to include such Person’s successors and assigns, (c) the words “herein”, “hereof’
and “hereunder”, and words of similar import, shall be construed to refer to this Agreement in its entirety and not
to any particular provision hereof, (d) all references herein to Sections, Exhibits and Annexes shall be construed to refer to
Sections of, and Exhibits and Annexes to, this Agreement and (e) the words “asset” and “property” shall
be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including
cash, securities, accounts and contract rights.

 

Section 2. Representations
and Warranties. Each Obligor represents and warrants to the Secured Parties that:

 

2.01. Organization.
Such Obligor is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization.

 

2.02. Authorization;
Enforceability. The execution, delivery and performance of this Agreement, and the granting of the Liens contemplated hereunder,
are within such Obligor’s corporate or other powers and have been duly authorized by all necessary corporate or other action,
including by all necessary shareholder action. This Agreement has been duly executed and delivered by such Obligor and constitutes
a legal, valid and binding obligation of such Obligor, enforceable in accordance with its terms, except as such enforceability
may be limited by (a) bankruptcy, insolvency, reorganization, moratorium or similar laws of general applicability affecting the
enforcement of creditors’ rights and (b) the application of general principles of equity (regardless of whether such enforceability
is considered in a proceeding in equity or at law).

 

2.03. Governmental
Approvals; No Conflicts. The execution, delivery and performance of this Agreement, and the granting of the Liens contemplated
hereunder, (a) do not require any consent or approval of, registration or filing with, or any other action by, any Governmental
Authority, except for (i) such as have been or will be obtained or made and are in full force and effect and (ii) filings and recordings
in respect of the Liens created pursuant hereto, (b) will not violate any applicable law or regulation or the charter, by-laws
or other organizational documents of any Obligor or any order of any Governmental Authority, (c) will not violate or result in
a default in any material respect under any indenture, agreement or other instrument binding upon any Obligor or any of its assets,
or give rise to a right thereunder to require any payment to be made by any such Person, and (d) except for the Liens created pursuant
hereto, will not result in the creation or imposition of any Lien on any asset of any Obligor.

 

2.04. Title.
Such Obligor is the sole beneficial owner of the Collateral in which a security interest is granted by such Obligor hereunder and
no Lien exists upon such Collateral other than (a) the security interest created or provided for herein, which security interest
constitutes a valid first and prior perfected Lien on the Collateral (except that any such security interest in a Special Equity
Interest may be subject to a Lien in favor of a creditor of the issuer of such Special Equity Interest as contemplated by the definition
of such term in the Credit Agreement) and (b) other Liens not prohibited by the provisions of any Debt Document.

 

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2.05. Names, Etc.
The full and correct legal name, type of organization, jurisdiction of organization, organizational ID number (if applicable) and
mailing address of each Obligor as of the date hereof are correctly set forth in Annex 1 (and of each additional
Obligor as of the date of the Guarantee Assumption Agreement referred to below are set forth in the supplement to Annex 1
in Appendix A to the Guarantee Assumption Agreement executed and delivered by such Obligor pursuant to Section 7.04).

 

2.06. Changes in
Circumstances. No Obligor has (a) within the period of four months prior to the date hereof (or, in the case of any Subsidiary
Guarantor, within the period of four months prior to the date it becomes a party hereto pursuant to a Guarantee Assumption Agreement),
changed its location (as defined in Section 9-307 of the NYUCC), (b) as of the date hereof (or, with respect to any Subsidiary
Guarantor, as of the date it becomes a party hereto pursuant to a Guarantee Assumption Agreement), changed its name or (c) as of
the date hereof (or, with respect to any Subsidiary Guarantor, as of the date it becomes a party hereto pursuant to a Guarantee
Assumption Agreement), become a “new debtor” (as defined in Section 9-102(a)(56) of the NYUCC) with respect to
a currently effective security agreement previously entered into by any other Person and binding upon such Obligor, in each case
except as notified in writing to the Collateral Agent prior to the date hereof (or, in the case of any Subsidiary Guarantor, prior
to the date it becomes a party hereto pursuant to a Guarantee Assumption Agreement).

 

2.07. Promissory
Notes. Annex 2 sets forth a complete and correct list of all Promissory Notes (other than any previously
delivered to the Custodian or held in a Securities Account referred to in Annex 3) held by the Borrower on the
date hereof (or held by a Subsidiary Guarantor on the date it becomes a party hereto pursuant to a Guarantee Assumption Agreement)
and having an aggregate unpaid principal amount in excess of $1,000,000.

 

2.08. Deposit Accounts
and Securities Accounts. Annex 3 sets forth a complete and correct list of all Deposit Accounts, Securities
Accounts and Commodity Accounts of the Borrower on the date hereof (and of any Subsidiary Guarantor on the date it becomes a party
hereto pursuant to a Guarantee Assumption Agreement), except for any Deposit Account specially and exclusively used for payroll,
payroll taxes and other employee wage and benefit payments.

 

Section 3. Guarantee.

 

3.01. The Guarantee.
The Subsidiary Guarantors hereby jointly and severally guarantee to each of the Secured Parties and their respective successors
and assigns the prompt payment in full when due (whether at stated maturity, by acceleration or otherwise) of the Guaranteed Obligations.
The Subsidiary Guarantors hereby further jointly and severally agree that if the Borrower shall fail to pay in full when due (whether
at stated or extended maturity, by acceleration or otherwise) any of the Guaranteed Obligations, the Subsidiary Guarantors will
jointly and severally pay the same without any demand or notice whatsoever, and that in the case of any extension of time of payment
or renewal of any of the Guaranteed Obligations, the same will be promptly paid in full when due (whether at extended maturity,
by acceleration or otherwise) in accordance with the terms of such extension or renewal.

 

3.02. Obligations
Unconditional. The obligations of the Subsidiary Guarantors under Section 3.01 are irrevocable, absolute
and unconditional, joint and several, irrespective of the value, genuineness, validity, regularity or enforceability of the obligations
of the Borrower under this Agreement, the other Debt Documents or any other agreement or instrument referred to herein or therein,
or any substitution, release or exchange of any other guarantee of or security for any of the Guaranteed Obligations, and, to the
fullest extent permitted by applicable law, irrespective of any other circumstance whatsoever that might otherwise constitute a
legal or equitable discharge or defense of a surety or guarantor, it being the intent of this Section 3 that
the obligations of the Subsidiary Guarantors hereunder shall be absolute and unconditional under any and all circumstances. Without
limiting the generality of the foregoing, it is agreed that the occurrence of any one or more of the following shall not alter
or impair the liability of the Subsidiary Guarantors hereunder, which shall remain absolute and unconditional as described above:

 

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(a)       at
any time or from time to time, without notice to the Subsidiary Guarantors, the time for any performance of or compliance with
any of the Guaranteed Obligations shall be extended, or such performance or compliance shall be waived;

 

(b)       any
of the acts mentioned in any of the provisions of this Agreement, the other Debt Documents or any other agreement or instrument
referred to herein or therein shall be done or omitted;

 

(c)       the
maturity of any of the Guaranteed Obligations shall be accelerated, or any of the Guaranteed Obligations shall be modified, supplemented
or amended in any respect, or any right under this Agreement, the other Debt Documents or any other agreement or instrument referred
to herein or therein shall be waived or any other guarantee of any of the Guaranteed Obligations or any security therefor shall
be released or exchanged in whole or in part or otherwise dealt with; or

 

(d)       any
lien or security interest granted to, or in favor of, any Secured Party as security for any of the Guaranteed Obligations shall
fail to be perfected.

 

The Subsidiary Guarantors hereby expressly
waive diligence, presentment, demand of payment, protest and all notices whatsoever, and any requirement that any Secured Party
exhaust any right, power or remedy or proceed against the Borrower under this Agreement, the other Debt Documents or any other
agreement or instrument referred to herein or therein, or against any other Person under any other guarantee of, or security for,
any of the Guaranteed Obligations.

 

3.03. Reinstatement.
The obligations of the Subsidiary Guarantors under this Section 3 shall be automatically reinstated if and to
the extent that for any reason any payment by or on behalf of the Borrower in respect of the Guaranteed Obligations is rescinded
or must be otherwise restored by any holder of any of the Guaranteed Obligations, whether as a result of any proceedings in bankruptcy
or reorganization or otherwise, and the Subsidiary Guarantors jointly and severally agree that they will indemnify the Secured
Parties on demand for all reasonable costs and expenses (including reasonable fees and other charges of counsel) incurred by the
Secured Parties in connection with such rescission or restoration, including any such costs and expenses incurred in defending
against any claim alleging that such payment constituted a preference, fraudulent transfer or similar payment under any bankruptcy,
insolvency or similar law.

 

3.04. Subrogation.
The Subsidiary Guarantors hereby jointly and severally agree that until the payment and satisfaction in full of all Guaranteed
Obligations, and the expiration and termination of all letters of credit or commitments to extend credit under all Debt Documents,
they shall not exercise any right or remedy arising by reason of any performance by them of their guarantee in Section 3.01,
whether by subrogation or otherwise, against the Borrower or any other guarantor of any of the Guaranteed Obligations or any security
for any of the Guaranteed Obligations.

 

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3.05. Remedies.
The Subsidiary Guarantors jointly and severally agree that, as between the Subsidiary Guarantors and the Secured Parties, a Guaranteed
Obligation may be declared to be forthwith due and payable as provided in the respective Debt Document therefor including, in the
case of the Credit Agreement, Article VII thereof (and shall be deemed to have become automatically due and payable in the circumstances
provided therein including, in the case of the Credit Agreement, such Article VII) for purposes of Section 3.01
notwithstanding any stay, injunction or other prohibition preventing such declaration (or such obligations from becoming automatically
due and payable) as against the Borrower or any Subsidiary Guarantors and that, in the event of such declaration (or such obligations
being deemed to have become automatically due and payable), such obligations (whether or not due and payable by the Borrower) shall
forthwith become due and payable by the Subsidiary Guarantors for purposes of Section 3.01.

 

3.06. Continuing
Guarantee. The guarantee in this Section 3 is a continuing guarantee of payment (and not of collection),
and shall apply to all Guaranteed Obligations whenever arising.

 

3.07. Instrument
for the Payment of Money. Each Subsidiary Guarantor hereby acknowledges that the guarantee in this Section 3
constitutes an instrument for the payment of money, and consents and agrees that any Secured Party, at its sole option, in the
event of a dispute by such Subsidiary Guarantor in the payment of any moneys due hereunder, shall have the right to bring motion
action under New York CPLR Section 3213.

 

3.08. Rights of
Contribution. The Obligors hereby agree, as between themselves, that if any Subsidiary Guarantor shall become an Excess Funding
Guarantor (as defined below) by reason of the payment by such Subsidiary Guarantor of any Guaranteed Obligations, then each other
Subsidiary Guarantor shall, on demand of such Excess Funding Guarantor (but subject to the next sentence), pay to such Excess Funding
Guarantor an amount equal to such Subsidiary Guarantor’s Pro Rata Share (as defined below and determined, for this purpose,
without reference to the properties, debts and liabilities of such Excess Funding Guarantor) of the Excess Payment (as defined
below) in respect of such Guaranteed Obligations. The payment obligation of a Subsidiary Guarantor to any Excess Funding Guarantor
under this Section 3.08 shall be subordinate and subject in right of payment to the prior payment in full of
the obligations of such Subsidiary Guarantor under the other provisions of this Section 3 and such Excess Funding
Guarantor shall not exercise any right or remedy with respect to such excess until payment and satisfaction in full of all of such
obligations.

 

For purposes of this
Section 3.08, (i) “Excess Funding Guarantor” means, in respect of any Guaranteed Obligations,
a Subsidiary Guarantor that has paid an amount in excess of its Pro Rata Share of such Guaranteed Obligations, (ii) “Excess
Payment” means, in respect of any Guaranteed Obligations, the amount paid by an Excess Funding Guarantor in excess
of its Pro Rata Share of such Guaranteed Obligations and (iii) “Pro Rata Share” means, for any Subsidiary
Guarantor, the ratio (expressed as a percentage) of (x) the amount by which the aggregate fair saleable value of all properties
of such Subsidiary Guarantor (excluding any shares of stock or other equity interest of any other Subsidiary Guarantor) exceeds
the amount of all the debts and liabilities of such Subsidiary Guarantor (including contingent, subordinated, unmatured and unliquidated
liabilities, but excluding the obligations of such Subsidiary Guarantor hereunder and any obligations of any other Subsidiary Guarantor
that have been Guaranteed by such Subsidiary Guarantor) to (y) the amount by which the aggregate fair saleable value of all properties
of the Borrower and all of the Subsidiary Guarantors exceeds the amount of all the debts and liabilities (including contingent,
subordinated, unmatured and unliquidated liabilities, but excluding the obligations of the Obligors hereunder) of the Borrower
and all of the Subsidiary Guarantors, determined (A) with respect to any Subsidiary Guarantor that is a party hereto on the date
hereof, as of the date hereof, and (B) with respect to any other Subsidiary Guarantor, as of the date such Subsidiary Guarantor
becomes a Subsidiary Guarantor hereunder.

 

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3.09. General Limitation
on Guarantee Obligations. In any action or proceeding involving any state corporate or other law, or any Federal or state bankruptcy,
insolvency, reorganization or other law affecting the rights of creditors generally, if the obligations of any Subsidiary Guarantor
under Section 3.01 would otherwise, taking into account the provisions of Section 3.08, be
held or determined to be void, invalid or unenforceable, or subordinated to the claims of any other creditors, on account of the
amount of its liability under Section 3.01, then, notwithstanding any other provision hereof to the contrary,
the amount of such liability shall, without any further action by such Subsidiary Guarantor, any Secured Party or any other Person,
be automatically limited and reduced to the highest amount that is valid and enforceable and not subordinated to the claims of
other creditors as determined in such action or proceeding.

 

3.10. Indemnity
by Borrower. In addition to all such rights of indemnity and subrogation as the Subsidiary Guarantors may have under applicable
law (but subject to Section 3.04), the Borrower agrees that (a) in the event a payment shall be made by any
Subsidiary Guarantor under this Agreement, the Borrower shall indemnify such Subsidiary Guarantor for the full amount of such payment
and such Subsidiary Guarantor shall be subrogated to the rights of the Person to whom such payment shall have been made to the
extent of such payment and (b) in the event any assets of any Subsidiary Guarantor shall be sold pursuant to this Agreement or
any other Security Document to satisfy in whole or in part the Guaranteed Obligations, the Borrower shall indemnify such Subsidiary
Guarantor in an amount equal to the greater of the book value or the fair market value of the assets so sold.

 

Section 4. Collateral.
As collateral security for the payment in full when due (whether at stated maturity, by acceleration or otherwise) of its Secured
Obligations, each Obligor hereby pledges and grants to the Collateral Agent for the benefit of the Secured Parties as hereinafter
provided a security interest in all of such Obligor’s right, title and interest in, to and under the following property,
in each case whether tangible or intangible, wherever located, and whether now owned by such Obligor or hereafter acquired and
whether now existing or hereafter coming into existence (all of the property described in this Section 4 being
collectively referred to herein as “Collateral”):

 

(a)       all
Accounts, all Chattel Paper, all Commodity Accounts, all Commodity Contracts, all Documents, all General Intangibles, all Instruments
(including all Promissory Notes), all Investment Property and all Securities not otherwise credited to a Securities Account, in
each case to the extent constituting Investments or the Proceeds thereof, but excluding any such asset released pursuant to Section 10.03(e);

 

(b)       all
Letter-of-Credit Rights where the underlying letter of credit supports any Collateral described in clause (a)
of this Section;

 

(c)       all
Deposit Accounts and Securities Accounts (including Securities Entitlements with respect thereto and Financial Assets carried therein);

 

(d)       to
the extent related to any Collateral, all books, correspondence, credit files, records, invoices and other papers (including all
tapes, cards, computer runs and other papers and documents in the possession or under the control of such Obligor or any computer
bureau or service company from time to time acting for such Obligor); and

 

(e)       all
Proceeds of any of the foregoing Collateral.

 

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PROVIDED, HOWEVER, that (A) in no event
shall the security interest granted under this Section 4 attach to (i) any contract, property rights, obligation,
instrument or agreement to which an Obligor is a party (or to any of its rights or interests thereunder) if the grant of such security
interest would constitute or result in either (x) the abandonment, invalidation or unenforceability of any right, title or interest
of such Obligor therein or (y) in a breach or termination pursuant to the terms of, or a default under, any such contract, property
rights, obligation, instrument or agreement (other than to the extent that any such term would be rendered ineffective by Section 9-406,
9-407, 9-408 or 9-409 of the Uniform Commercial Code as in effect in the relevant jurisdiction); (ii) Equity Interests in directly-held
Foreign Subsidiaries in excess of 65% of the total outstanding voting Equity Interests of each such Foreign Subsidiary or any Equity
Interests in indirectly-held Foreign Subsidiaries, in each case, except to the extent that, in the reasonable determination of
the Borrower, such a security interest would not reasonably be expected to result in a materially adverse tax consequence to such
Obligor; (iii) any Excluded Account; or (iv) any Excluded SBIC Investments; and (B) the Obligors, may by notice to the Collateral
Agent, exclude from the grant of a security interest provided above in this Section 4, any Special Equity Interests
designated by the Borrower in reasonable detail to the Collateral Agent in such notice (it being understood that the Borrower may
at any later time rescind any such designation by similar notice to the Collateral Agent).

 

Section 5. Certain
Agreements Among Secured Parties.

 

5.01. Priorities;
Additional Collateral.

 

(a)       Pari
Passu Status of Obligations. Each Secured Party by acceptance of the benefits of this Agreement and the other Security Documents
agrees that their respective interests in the Security Documents and the Collateral shall rank pari passu and that the Secured
Obligations shall be equally and ratably secured by the Security Documents subject to the terms hereof and the priority of payment
established in Section 8.06.

 

(b)       Sharing
of Guaranties and Liens. Each Secured Party by acceptance of the benefits of this Agreement and the other Security Documents
agrees that (i) such Secured Party will not accept from any Subsidiary of the Borrower any guarantee of any of the Guaranteed Obligations
unless such guarantor simultaneously guarantees the payment of all of the Guaranteed Obligations owed to all Secured Parties and
(ii) such Secured Party will not hold, take, accept or obtain any Lien upon any assets of any Obligor or any Subsidiary of the
Borrower to secure the payment and performance of the Secured Obligations except and to the extent that such Lien is in favor of
the Collateral Agent pursuant to this Agreement or another Security Document to which the Collateral Agent is a party for the benefit
of all of the Secured Parties as provided herein.

 

Anything in this Section,
or any other provision of this Agreement, to the contrary notwithstanding, this Agreement shall be inapplicable to any debtor-in-possession
financing that may be provided by any Secured Party to the Borrower or any of its Subsidiaries in any Federal or state bankruptcy
or insolvency proceeding, and no consent or approval of any other Secured Party shall be required as a condition to the provision
by any Secured Party of any such financing, and no other Secured Party shall be entitled to share in any Lien upon any Collateral
granted to any Secured Party to secure repayment of such debtor-in-possession financing; provided that no Secured Party
shall be barred from objecting to any such financing on the basis of adequate protection or any other grounds.

 

5.02. Turnover of
Collateral. If a Secured Party acquires custody, control or possession of any Collateral or the Proceeds therefrom, other than
pursuant to the terms of this Agreement, such Secured Party shall promptly (but in any event within five Business Days) cause such
Collateral or Proceeds to be Delivered in accordance with the provisions of this Agreement. Until such time as such Secured Party
shall have complied with the provisions of the immediately preceding sentence, such Secured Party shall be deemed to hold such
Collateral and Proceeds in trust for the benefit of the Collateral Agent.

 

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5.03. Cooperation
of Secured Parties. Each Secured Party will cooperate with the Collateral Agent and with each other Secured Party in the enforcement
of the Liens upon the Collateral and otherwise in order to accomplish the purposes of this Agreement and the Security Documents.

 

5.04. Limitation
upon Certain Independent Actions by Secured Parties. No Secured Party shall have any right to institute any action or proceeding
to enforce any term or provision of the Security Documents or to enforce any of its rights in respect of the Collateral or to exercise
any other remedy pursuant to the Security Documents or at law or in equity, for the purpose of realizing on the Collateral, or
by reason of jeopardy of any Collateral, or for the execution of any trust or power hereunder (collectively, the “Specified
Actions”), unless the Required Secured Parties have delivered written instructions to the Collateral Agent and the
Collateral Agent shall have failed to act in accordance with such instructions within 30 days thereafter. In such case but not
otherwise, the Required Secured Parties may appoint one Person to act on behalf of the Secured Parties solely to take any of the
Specified Actions (the “Appointed Party”), and, upon the acceptance of its appointment as Appointed Party,
the Appointed Party shall be entitled to commence proceedings in any court of competent jurisdiction or to take any other Specified
Actions as the Collateral Agent might have taken pursuant to this Agreement or the Security Documents (in accordance with the directions
of the Required Secured Parties). The Obligors acknowledge and agree that should the Appointed Party act in accordance with this
provision, such Appointed Party will have all the rights, remedies, benefits and powers as are granted to the Collateral Agent
pursuant hereto or pursuant to any Security Documents.

 

5.05. No Challenges.
In no event shall any Secured Party take any action to challenge, contest or dispute the validity, extent, enforceability, or priority
of the Collateral Agent’s Liens hereunder or under any other Security Document with respect to any of the Collateral, or
that would have the effect of invalidating any such Lien or support any Person who takes any such action. Each of the Secured Parties
agrees that it will not take any action to challenge, contest or dispute the validity, enforceability or secured status of any
other Secured Party’s claims against any Obligor (other than any such claim resulting from a breach of this Agreement by
a Secured Party, or any challenge, contest or dispute alleging arithmetical error in the determination of a claim), or that would
have the effect of invalidating any such claim, or support any Person who takes any such action.

 

5.06. Rights of
Secured Parties as to Secured Obligations. Notwithstanding any other provision of this Agreement, the right of each Secured
Party to receive payment of the Secured Obligations held by such Secured Party when due (whether at the stated maturity thereof,
by acceleration or otherwise) as expressed in any instrument evidencing or agreement governing such Secured Obligations, or to
institute suit for the enforcement of such payment on or after such due date, and the obligation of the Obligors to pay their respective
Secured Obligations when due, shall not be impaired or affected without the consent of such Secured Party; provided that,
notwithstanding the foregoing, each Secured Party agrees that it will not attempt to exercise remedies with respect to any Collateral
except as provided in this Agreement.

 

Section 6. Recordkeeping.
The Collateral Agent will maintain books and records necessary to enable it to determine at any time all transactions under this
Agreement which have occurred on or prior to such time. Each Obligor agrees that such books and records maintained in good faith
by the Collateral Agent shall be conclusive as to the matters contained therein absent manifest error. Each Obligor shall have
the right to inspect such books and records at any time upon reasonable prior notice.

 

Section 7. Covenants
of the Obligors. In furtherance of the grant of the security interest pursuant to Section 4, each Obligor
hereby agrees with the Collateral Agent for the benefit of the Secured Parties as follows:

 

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7.01. Delivery and
Other Perfection. (a) Within sixty days after the acquisition by an Obligor of any Investment constituting part of the
Collateral as to which physical possession by the Collateral Agent or the Custodian is required in order for such Investment to
have been “Delivered”, such Obligor shall take such actions as shall be necessary to effect Delivery of such Investment.
As to all other Investments constituting part of the Collateral, such Obligor shall cause the same to be Delivered (to the extent
not already Delivered) within five Business Days of the acquisition thereof. In addition, and without limiting the generality of
the foregoing, each Obligor shall promptly from time to time give, execute, deliver, file, record, authorize or obtain all such
financing statements, continuation statements, notices, instruments, documents, account control agreements or any other agreements
or consents or other papers as may be necessary in the judgment of the Collateral Agent to create, preserve, perfect, maintain
the perfection of or validate the security interest granted pursuant hereto or to enable the Collateral Agent to exercise and enforce
its rights hereunder with respect to such security interest, and without limiting the foregoing, shall:

 

(i)       keep
full and accurate books and records relating to the Collateral in all material respects, and stamp or otherwise mark such books
and records in such manner as the Collateral Agent may reasonably require in order to reflect the security interests granted by
this Agreement; and

 

(ii)       permit
representatives of the Collateral Agent, upon reasonable notice, at any time during normal business hours to inspect and make abstracts
from its books and records pertaining to the Collateral, and permit representatives of the Collateral Agent to be present at such
Obligor’s place of business to receive copies of communications and remittances relating to the Collateral, and forward copies
of any notices or communications received by such Obligor with respect to the Collateral, all in such manner as the Collateral
Agent may reasonably require; provided that each such Obligor shall be entitled to have its representatives and advisors
present during any inspection of its books and records at such Obligor’s place of business.

 

(b)       Unless
released from the Collateral pursuant to Section 10.03(e), once any Investment has been Delivered, the Obligors
shall not take or permit any action that would result in such Investment no longer being Delivered hereunder and shall promptly
from time to time give, execute, deliver, file, record, authorize or obtain all such financing statements, continuation statements,
notices, instruments, documents, account control agreements or any other agreements or consents or other papers as may be necessary
or desirable in the judgment of the Collateral Agent to continue the Delivered status of any Collateral. Without limiting the generality
of the foregoing, the Obligors shall not terminate any arrangement with the Custodian unless and until a successor Custodian reasonably
satisfactory to the Collateral Agent has been appointed and has executed all documentation necessary to continue the Delivered
status of the Collateral, which documentation shall be in form and substance reasonably satisfactory to the Collateral Agent.

 

7.02. Name; Jurisdiction
of Organization, Etc. Each Obligor agrees that (a) without providing prior written notice to the Collateral Agent, such Obligor
will not change its name, its place of business or, if more than one, chief executive office, or its mailing address or organizational
identification number if it has one, (b) if such Obligor does not have an organizational identification number and later obtains
one, such Obligor will forthwith notify the Collateral Agent of such organizational identification number, and (c) such Obligor
will not change its type of organization, jurisdiction of organization or other legal structure.

 

7.03. Other Financing
Statements or Control. Except as otherwise permitted under Section 6.02 of the Credit Agreement and the
applicable provisions of each other Debt Document, the Obligors shall not (a) file or suffer to be on file, or authorize or permit
to be filed or to be on file, in any jurisdiction, any financing statement or like instrument with respect to any of the Collateral
in which the Collateral Agent is not named as the sole Collateral Agent for the benefit of the Secured Parties other than any financing
statement or like instrument in respect of a Lien not prohibited by the provisions of any Debt Document, or (b) cause or permit
any Person other than the Collateral Agent to have Control of any Deposit Account, Electronic Chattel Paper, Investment Property
or Letter-of-Credit Right constituting part of the Collateral.

 

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7.04. Additional
Subsidiary Guarantors. As contemplated by Section 5.08 of the Credit Agreement, any new Subsidiary (other
than a Financing Subsidiary, Foreign Subsidiary, Immaterial Subsidiary or Subsidiary of a Foreign Subsidiary) of the Borrower formed
or acquired by the Borrower after the date hereof, is required to become a “Subsidiary Guarantor” under this Agreement,
by executing and delivering to the Collateral Agent a Guarantee Assumption Agreement in the form of Exhibit A.
Accordingly, upon the execution and delivery of any such Guarantee Assumption Agreement by any such Subsidiary, such new Subsidiary
shall automatically and immediately, and without any further action on the part of any Person, become a “Subsidiary Guarantor”
and an “Obligor” for all purposes of this Agreement, and Annexes 1 through 3, inclusive,
hereto shall be deemed to be supplemented in the manner specified in such Guarantee Assumption Agreement. In addition, upon execution
and delivery of any such Guarantee Assumption Agreement, the new Subsidiary Guarantor makes the representations and warranties
set forth in Section 2 as of the date of such Guarantee Assumption Agreement.

 

7.05. Control Agreements.
No Obligor shall open any account with any bank, securities intermediary or commodities intermediary (other than (i) any payroll
account so long as such payroll account is a zero balance account, (ii) withholding tax and fiduciary accounts, (iii) any Excluded
Accounts and (iv) any account in which the aggregate value of deposits therein, together with all other such accounts under this
clause (iv), does not at any time exceed $100,000) unless such Obligor has notified the Collateral Agent of
such new account and the Collateral Agent has Control over such account pursuant to a control agreement in form and substance satisfactory
to the Collateral Agent.

 

7.06. Credit Agreement.
Each Subsidiary Guarantor agrees to perform, comply with and be bound by the covenants contained in Articles V and VI of the Credit
Agreement (which provisions are incorporated herein by reference) applicable to such Subsidiary Guarantor as if each Subsidiary
Guarantor were a signatory to the Credit Agreement.

 

Section 8. Acceleration
Notice; Remedies; Distribution of Collateral.

 

8.01. Notice of
Acceleration. Upon receipt by the Collateral Agent of a written notice from any Secured Party or the Borrower which (i) expressly
refers to this Agreement, (ii) describes an event or condition which has occurred and is continuing and (iii) expressly states
that such event or condition constitutes an Acceleration as defined herein, the Collateral Agent shall promptly notify each other
party hereto of the receipt and contents thereof (any such notice is referred to herein as a “Acceleration Notice”).

 

8.02. Preservation
of Rights. The Collateral Agent shall not be required to take steps necessary to preserve any rights against prior parties
to any of the Collateral.

 

8.03. Events of
Default, Etc. During the period during which an Event of Default or Trigger Event shall have occurred and be continuing:

 

(a)       each
Obligor shall, at the request of the Collateral Agent, assemble the Collateral owned by it at such place or places, reasonably
convenient to both the Collateral Agent and such Obligor, designated in the Collateral Agent’s request;

 

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(b)       the
Collateral Agent may make any reasonable compromise or settlement deemed desirable with respect to any of the Collateral and may
extend the time of payment, arrange for payment in installments, or otherwise modify the terms of, any of the Collateral;

 

(c)       the
Collateral Agent shall have all of the rights and remedies with respect to the Collateral of a secured party under the Uniform
Commercial Code (whether or not the Uniform Commercial Code is in effect in the jurisdiction where the rights and remedies are
asserted) and such additional rights and remedies to which a secured party is entitled under the laws in effect in any jurisdiction
where any rights and remedies hereunder may be asserted, including the right, to the fullest extent permitted by applicable law,
to exercise all voting, consensual and other powers of ownership pertaining to the Collateral as if the Collateral Agent were the
sole and absolute owner thereof (and each Obligor agrees to take all such action as may be appropriate to give effect to such right);

 

(d)       the
Collateral Agent in its discretion may, in its name or in the name of any Obligor or otherwise, demand, sue for, collect or receive
any money or property at any time payable or receivable on account of or in exchange for any of the Collateral, but shall be under
no obligation to do so; and

 

(e)       the
Collateral Agent may, upon ten Business Days’ prior written notice to the Obligors of the time and place (or, if such sale
is to take place on the NYSE or any other established exchange or market, prior to the time of such sale or other disposition),
with respect to the Collateral or any part thereof which shall then be or shall thereafter come into the possession, custody or
control of the Collateral Agent, the other Secured Parties or any of their respective agents, sell, assign or otherwise dispose
of all or any part of such Collateral, at such place or places as the Collateral Agent deems best, and for cash or for credit or
for future delivery (without thereby assuming any credit risk), at public or private sale, without demand of performance or notice
of intention to effect any such disposition or of the time or place thereof (except such notice as is required above or by applicable
statute and cannot be waived), and the Collateral Agent or any other Secured Party or anyone else may be the purchaser, assignee
or recipient of any or all of the Collateral so disposed of at any public sale (or, to the extent permitted by law, at any private
sale) and thereafter, to the fullest extent permitted by law, hold the same absolutely, free from any claim or right of whatsoever
kind, including any right or equity of redemption (statutory or otherwise), of the Obligors, any such demand, notice and right
or equity being hereby expressly waived and released, to the fullest extent permitted by law.

 

The Collateral Agent
may, without notice or publication, adjourn any public or private sale or cause the same to be adjourned from time to time by announcement
at the time and place fixed for the sale, and such sale may be made at any time or place to which the sale may be so adjourned.

 

The proceeds of each collection, sale or
other disposition under this Section shall be applied in accordance with Section 8.06.

 

The Obligors recognize
that, by reason of certain prohibitions contained in the Securities Act of 1933, as amended, and applicable state securities laws,
the Collateral Agent may be compelled, with respect to any sale of all or any part of the Collateral, to limit purchasers to those
who will agree, among other things, to acquire the Collateral for their own account, for investment and not with a view to the
distribution or resale thereof. The Obligors acknowledge that any such private sales may be at prices and on terms less favorable
to the Collateral Agent than those obtainable through a public sale without such restrictions, and, notwithstanding such circumstances,
agree that to the extent any such private sale is conducted by the Collateral Agent in a commercially reasonable manner, the Collateral
Agent shall have no obligation to engage in public sales and no obligation to delay the sale of any Collateral for the period of
time necessary to permit the Obligors, or the issuer thereof, to register it for public sale.

 

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8.04. Deficiency.
If the proceeds of sale, collection or other realization of or upon the Collateral pursuant to Section 8.03
are insufficient to cover the costs and expenses of such realization and the payment in full of the Secured Obligations, the Obligors
shall remain liable for any deficiency.

 

8.05. Private Sale.
The Collateral Agent and the Secured Parties shall incur no liability as a result of the sale of the Collateral, or any part thereof,
at any private sale pursuant to Section 8.03 conducted in a commercially reasonable manner. Each Obligor hereby
waives any claims against the Collateral Agent or any other Secured Party arising by reason of the fact that the price at which
the Collateral may have been sold at such a private sale was less than the price which might have been obtained at a public sale
or was less than the aggregate amount of the Secured Obligations, even if the Collateral Agent accepts the first offer received
and does not offer the Collateral to more than one offeree, so long as such private sale was conducted in a commercially reasonable
manner.

 

8.06. Application
of Proceeds. Except as otherwise herein expressly provided, the proceeds of any collection, sale or other realization of all
or any part of the Collateral of any Obligor pursuant hereto, and any other cash of any Obligor at the time held by the Collateral
Agent under this Agreement, shall be applied by the Collateral Agent as follows:

 

First,
to the payment of the costs and expenses of such collection, sale or other realization, including reasonable out-of-pocket costs
and expenses of the Collateral Agent and the reasonable fees and expenses of its agents and counsel, and all expenses incurred
and advances made by the Collateral Agent in connection therewith;

 

Second,
to the payment of any fees and other amounts then owing by such Obligor to the Collateral Agent in its capacity as such;

 

Third,
to the payment of any reasonable fees, costs and expenses then owing by such Obligor to the Secured Parties under the applicable
Debt Documents, in each case to each Secured Party ratably;

 

Fourth,
to the payment of the Secured Obligations of such Obligor then due and payable, in each case to each Secured Party ratably in accordance
with the amount of Secured Obligations then due and payable to such Secured Party (it being understood that, for the purposes hereof
(i) the outstanding principal amount of the loans under the Credit Agreement shall be deemed then due and payable whether or not
any Acceleration of such loans has occurred, and (ii) to the extent any cover in respect of a letter of credit shall be due and
payable under a Debt Document, that such cover shall be deemed to be a Secured Obligation that is due and payable for purposes
hereof); and

 

Fifth,
after application as provided in clauses “First” “Second”, “Third”
and “Fourth” above, to the payment to the respective Obligor, or their respective successors or assigns,
or as a court of competent jurisdiction may direct, of any surplus then remaining.

 

In making the allocations required
by this Section, the Collateral Agent may rely upon its records and information supplied to it pursuant to Section 9.02,
and the Collateral Agent shall have no liability to any of the other Secured Parties for actions taken in reliance on such information,
except to the extent of its gross negligence or willful misconduct. The Collateral Agent may, in its sole discretion, at the time
of any application under this Section, withhold all or any portion of the proceeds otherwise to be applied to the Secured Obligations
as provided above and maintain the same in a segregated cash collateral account in the name and under the exclusive Control of
the Collateral Agent, to the extent that it in good faith believes that the information provided to it pursuant to Section 9.02
is either incomplete or inaccurate and that application of the full amount of such proceeds to the Secured Obligations would be
disadvantageous to any Secured Party. All distributions made by the Collateral Agent pursuant to this Section shall be final (subject
to any decree of any court of competent jurisdiction), and the Collateral Agent shall have no duty to inquire as to the application
by the other Secured Parties of any amounts distributed to them.

 

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8.07. Attorney-in-Fact.
Without limiting any rights or powers granted by this Agreement to the Collateral Agent while no Event of Default or Trigger Event
has occurred and is continuing, upon the occurrence and during the continuance of any Event of Default or Trigger Event, the Collateral
Agent is hereby appointed the attorney-in-fact of each Obligor for the purpose of carrying out the provisions of this Section 8
and taking any action and executing any instruments which the Collateral Agent may reasonably deem necessary or advisable to accomplish
the purposes hereof, which appointment as attorney-in-fact is irrevocable and coupled with an interest. Without limiting the generality
of the foregoing, so long as the Collateral Agent shall be entitled under this Section 8 to make collections
in respect of the Collateral, the Collateral Agent shall have the right and power to receive, endorse and collect all checks made
payable to the order of any Obligor representing any dividend, payment or other distribution in respect of the Collateral or any
part thereof and to give full discharge for the same.

 

Section 9. The Collateral
Agent.

 

9.01. Appointment;
Powers and Immunities. Each Lender and the Administrative Agent hereby irrevocably appoints and authorizes Amegy Bank to act
as its agent hereunder with such powers as are specifically delegated to the Collateral Agent by the terms of this Agreement, together
with such other powers as are reasonably incidental thereto. The Collateral Agent (which term as used in this sentence and in Section 9.06
and the first sentence of Section 9.07 shall include reference to its affiliates and its own and its affiliates’
officers, directors, employees and agents):

 

(a)       shall
have no duties or responsibilities except those expressly set forth in this Agreement and shall not by reason of this Agreement
be a trustee for, or a fiduciary with respect to, any Lender;

 

(b)       shall
not be responsible to the Lenders or the Administrative Agent for any recitals, statements, representations or warranties contained
in this Agreement or in any notice delivered hereunder, or in any other certificate or other document referred to or provided for
in, or received by it under, this Agreement, or for the value, validity, effectiveness, genuineness, enforceability or sufficiency
of this Agreement or any other document referred to or provided for herein or therein or for any failure by the Obligors or any
other Person to perform any of its obligations hereunder;

 

(c)       shall
not be required to initiate or conduct any litigation or collection proceedings hereunder except, subject to Section 9.07,
for any such litigation or proceedings relating to the enforcement of the guarantee set forth in Section 3,
or the Liens created pursuant to Section 4; and

 

(d)       shall
not be responsible for any action taken or omitted to be taken by it hereunder or under any other document or instrument referred
to or provided for herein or therein or in connection herewith or therewith, except for its own gross negligence or willful misconduct.

 

9.02. Information
Regarding Secured Parties. The Borrower will at such times and from time to time as shall be reasonably requested by the Collateral
Agent, supply a list in form and detail reasonably satisfactory to the Collateral Agent setting forth the amount of the Secured
Obligations held by each Secured Party (excluding, so long as Amegy Bank is both the Collateral Agent and the Administrative Agent,
the Credit Agreement Obligations) as of a date specified in such request. The Collateral Agent shall provide any such list to any
Secured Party upon request. The Collateral Agent shall be entitled to rely upon such information, and such information shall be
conclusive and binding for all purposes of this Agreement, except to the extent the Collateral Agent shall have been notified by
a Secured Party that such information as set forth on any such list is inaccurate or in dispute between such Secured Party and
the Borrower.

 

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9.03. Reliance by
Collateral Agent. The Collateral Agent shall be entitled to rely upon any certification, notice or other communication (including
any thereof by telephone, telecopy, telex, telegram, cable or electronic mail) believed by it in good faith to be genuine and correct
and to have been signed or sent by or on behalf of the proper Person or Persons, and upon advice and statements of legal counsel,
independent accountants and other experts selected by the Collateral Agent. As to any matters not expressly provided for by this
Agreement, the Collateral Agent shall in all cases be fully protected in acting, or in refraining from acting, hereunder or thereunder
in accordance with instructions given by the Required Secured Parties, and such instructions of the Required Secured Parties, and
any action taken or failure to act pursuant thereto shall be binding on all of the Secured Parties. If in one or more instances
the Collateral Agent takes any action or assumes any responsibility not specifically delegated to it pursuant to this Agreement,
neither the taking of such action nor the assumption of such responsibility shall be deemed to be an express or implied undertaking
on the part of the Collateral Agent that it will take the same or similar action or assume the same or similar responsibility in
any other instance.

 

9.04. Rights as
a Secured Party. With respect to its obligation to extend credit under the Credit Agreement, Amegy Bank (and any successor
acting as Collateral Agent) in its capacity as a Lender under the Credit Agreement shall have the same rights and powers hereunder
as any other Secured Party and may exercise the same as though it were not acting as Collateral Agent, and the term “Secured
Party” or “Secured Parties” shall, unless the context otherwise indicates, include the Collateral Agent in its
individual capacity. Amegy Bank (and any successor acting as Collateral Agent) and its affiliates may (without having to account
therefor to any other Secured Party) accept deposits from, lend money to, make investments in and generally engage in any kind
of banking, trust or other business with any of the Obligors (and any of their Subsidiaries or affiliates) as if it were not acting
as Collateral Agent, and Amegy Bank and its affiliates may accept fees and other consideration from any of the Obligors for services
in connection with this Agreement or otherwise without having to account for the same to the other Secured Parties.

 

9.05. Indemnification.
Each Lender by acceptance of the benefits of this Agreement and the other Security Documents agrees to indemnify the Collateral
Agent and each Related Party of the Collateral Agent (each such Person being called an “Indemnitee”)
(to the extent not reimbursed under Section 10.04, but without limiting the obligations of the Obligors under
Section 10.04) ratably in accordance with the aggregate Secured Obligations held by the Lenders, for any and
all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind
and nature whatsoever that may be imposed on, incurred by or asserted against any Indemnitee (including by any other Secured Party)
arising out of or by reason of any investigation in connection with or in any way relating to or arising out of this Agreement,
any other Debt Documents, or any other documents contemplated by or referred to herein or therein or the transactions contemplated
hereby or thereby (including the costs and expenses that the Obligors are obligated to pay under Section 10.04,
but excluding, unless an Event of Default or a Trigger Event has occurred and is continuing, normal administrative costs and expenses
incident to the performance of its agency duties hereunder) or the enforcement of any of the terms hereof or thereof or of any
such other documents; provided that no Lender shall be liable for any of the foregoing to the extent they arise from the
gross negligence or willful misconduct of the party to be indemnified.

 

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9.06. Non-Reliance
on Collateral Agent and Other Secured Parties. The Administrative Agent (and each Lender by acceptance of the benefits of this
Agreement and the other Security Documents) agrees that it has, independently and without reliance on the Collateral Agent or any
other Secured Party, and based on such documents and information as it has deemed appropriate, made its own credit analysis of
the Borrower, the Subsidiary Guarantors and their Subsidiaries and decision to extend credit to the Borrower in reliance on this
Agreement and that it will, independently and without reliance upon the Collateral Agent or any other Secured Party, and based
on such documents and information as it shall deem appropriate at the time, continue to make its own analysis and decisions in
taking or not taking action under this Agreement and any Debt Document to which it is a party. Except as otherwise expressly provided
herein, the Collateral Agent shall not be required to keep itself informed as to the performance or observance by any Obligor of
this Agreement, any other Debt Document or any other document referred to or provided for herein or therein or to inspect the properties
or books of any Obligor. The Collateral Agent shall not have any duty or responsibility to provide any other Secured Party with
any credit or other information concerning the affairs, financial condition or business of any Obligor or any of its Subsidiaries
(or any of their affiliates) that may come into the possession of the Collateral Agent or any of its affiliates, except for notices,
reports and other documents and information expressly required to be furnished to the other Secured Parties by the Collateral Agent
hereunder.

 

9.07. Failure to
Act. Except for action expressly required of the Collateral Agent hereunder, the Collateral Agent shall in all cases be fully
justified in failing or refusing to act hereunder unless it shall receive further assurances to its satisfaction from the other
Secured Parties of their indemnification obligations under Section 9.05 against any and all liability and expense
that may be incurred by it by reason of taking or continuing to take any such action. The Collateral Agent shall not be required
to take any action that in the judgment of the Collateral Agent would violate any applicable law.

 

9.08. Resignation
of Collateral Agent. Subject to the appointment and acceptance of a successor Collateral Agent as provided below, the Collateral
Agent may resign at any time by giving notice thereof to the other Secured Parties and the Obligors. Upon any such resignation,
the Required Secured Parties shall have the right, with the consent of the Borrower not to be unreasonably withheld (or if an Event
of Default or Trigger Event has occurred and is continuing in consultation with the Borrower) to appoint a successor Collateral
Agent. If no successor Collateral Agent shall have been so appointed by the Required Secured Parties and shall have accepted such
appointment within 30 days after the retiring Collateral Agent’s giving of written notice of resignation of the retiring
Collateral Agent, then the retiring Collateral Agent may, on behalf of the other Secured Parties, appoint a successor Collateral
Agent, that shall be a bank that has an office in New York, New York and has a combined capital and surplus and undivided profits
of at least $1,000,000,000. Upon the acceptance of any appointment as Collateral Agent hereunder by a successor Collateral Agent,
such successor Collateral Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties
of the retiring Collateral Agent, and the retiring Collateral Agent shall be discharged from its duties and obligations hereunder.
After any retiring Collateral Agent’s resignation hereunder as Collateral Agent, the provisions of this Section 9
shall continue in effect for its benefit in respect of any actions taken or omitted to be taken by it while it was acting as the
Collateral Agent. The Borrower shall pay to any successor Collateral Agent the fees and charges necessary to induce such successor
Collateral Agent to accept its appointment hereunder.

 

9.09. Agents and
Attorneys-in-Fact. The Collateral Agent may employ agents and attorneys-in-fact in connection herewith and shall not be responsible
for the negligence or misconduct of any such agents or attorneys-in-fact selected by it in good faith.

 

Section 10. Miscellaneous.

 

10.01. Notices.
All notices, requests, consents and other demands hereunder and other communications provided for herein shall be given or made
in writing, (a) to any party hereto, delivered by hand or overnight courier service, mailed by certified or registered mail or
sent by telecopy or electronic mail to the intended recipient at the “Address for Notices” specified below its name
on the signature pages hereof (provided that notices to any Subsidiary Guarantor shall be given to such Subsidiary Guarantor
care of the Borrower at the address for the Borrower specified herein) or (b) as to any party, at such other address as shall be
designated by such party in a written notice to each other party. All notices to any Lender that is not a party hereto shall be
given to the Administrative Agent. All notices and other communications given to any party hereto in accordance with the provisions
of this Agreement shall be deemed to have been given on the date of receipt.

 

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10.02. No Deemed
Waivers; Remedies Cumulative. No failure or delay by the Collateral Agent or any other Secured Party in exercising any right
or power hereunder shall operate as a waiver thereof nor shall any single or partial exercise of any such right or power, or any
abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or the
exercise of any other right or power. The rights and remedies of the Collateral Agent and the Secured Parties hereunder are cumulative
and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of this Agreement or
consent to any departure by the Obligors therefrom shall in any event be effective unless the same shall be permitted by Section 10.03,
and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given.

 

10.03. Amendments;
Waivers; Releases. Except as otherwise provided in any Security Document, the terms of this Agreement and the other Security
Documents may be waived, altered or amended only by an instrument in writing duly executed by each Obligor and the Collateral Agent,
with the consent of the Required Secured Parties; provided that

 

(a)       no
such amendment shall adversely affect the relative rights of any Secured Party as against any other Secured Party without the prior
written consent of such first Secured Party,

 

(b)       without
the prior written consent of each of the Lenders under the Credit Agreement, the Collateral Agent shall not release all or substantially
all of the collateral under the Security Documents or release all or substantially all of the Subsidiary Guarantors from their
guarantee obligations under Section 3 hereof, except that if any amounts have become due and payable in respect
of any periodic or termination payment in respect of any Hedging Agreement Obligation, and shall have remained unpaid for 30 or
more days, then the prior written consent (voting as a single group) of the holders of a majority in interest of such Hedging Agreement
Obligations, whichever of such obligations are then due and payable, will also be required to release all or substantially all
of such collateral;

 

(c)       without
the consent of each of the Secured Parties, no modification, supplement or waiver shall modify the definition of the term “Required
Secured Parties” or modify in any other manner the number of percentage of the Secured Parties required to make any determinations
or waive any rights under any Security Document;

 

(d)       without
the consent of the Collateral Agent, no modification, supplement or waiver shall modify the terms of Section 9
or this Section 10.03;

 

(e)       the
Collateral Agent is authorized to release (and shall release) any Collateral that is either the subject of a disposition not prohibited
under the Credit Agreement or to which the Required Secured Parties shall have consented; notwithstanding the foregoing, Portfolio
Investments constituting the Collateral shall be automatically released from the lien of this Agreement, without any action of
the Collateral Agent, in connection with any disposition of Portfolio Investments that (i) occurs in the ordinary course of the
Borrower’s business and (ii) is not prohibited under the Credit Agreement; and

 

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(f)       the
Collateral Agent is authorized to release (and shall release) any Subsidiary Guarantor from any of its guarantee obligations under
Section 3 hereof to the extent such Subsidiary Guarantor is an Immaterial Subsidiary or the Subsidiary Guarantor
ceases to be a Subsidiary as a result of a transaction not prohibited under the Debt Documents, or to which the Required Secured
Parties shall have consented, and, upon such release, the Collateral Agent is authorized to release (and shall release) any collateral
security granted by such Subsidiary Guarantor hereunder and under the other Security Documents.

 

Any such amendment or waiver shall be binding
upon the Collateral Agent, each Secured Party and each Obligor.

 

10.04. Expenses;
Indemnity; Damage Waiver.

 

(a)       Costs
and Expenses. The Obligors hereby jointly and severally agree to reimburse the Collateral Agent and each of the other Secured
Parties and their respective Affiliates for all reasonable out-of-pocket costs and expenses incurred by them (including the reasonable
fees, charges and disbursements of legal counsel) in connection with (i) any Default or Trigger Event and any enforcement or collection
proceeding resulting therefrom, including all manner of participation in or other involvement with (w) performance by the Collateral
Agent of any obligations of the Obligors in respect of the Collateral that the Obligors have failed or refused to perform in the
time period required under this Agreement, (x) bankruptcy, insolvency, receivership, foreclosure, winding up or liquidation proceedings
of any Obligor, or any actual or attempted sale, or any exchange, enforcement, collection, compromise or settlement in respect
of any of the Collateral, and for the care of the Collateral and defending or asserting rights and claims of the Collateral Agent
in respect thereof, by litigation or otherwise, including expenses of insurance, (y) judicial or regulatory proceedings arising
from or related to this Agreement and (z) workout, restructuring or other negotiations or proceedings (whether or not the workout,
restructuring or transaction contemplated thereby is consummated) and (ii) the enforcement of this Section, and all such costs
and expenses shall be Secured Obligations entitled to the benefits of the collateral security provided pursuant to Section 4.

 

(b)       Indemnification
by the Obligors. The Obligors shall indemnify each Indemnitee against, and hold each Indemnitee harmless from, any and all
losses, claims, damages, liabilities and related expenses including the reasonable out-of-pocket fees, charges and disbursements
of any counsel for any Indemnitee, incurred by or asserted against any Indemnitee arising out of, in connection with, or as a result
of (i) the execution or delivery of this Agreement or any agreement or instrument contemplated hereby, the performance by the parties
hereto of their respective obligations hereunder or (ii) any actual or prospective claim, litigation, investigation or proceeding
relating to any of the foregoing, whether based on contract, tort or any other theory and regardless of whether any Indemnitee
is a party thereto; provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses,
claims, damages, liabilities or related expenses are determined by a court of competent jurisdiction by final and nonappealable
judgment to have resulted from the fraud, willful misconduct or gross negligence of such Indemnitee.

 

Neither the Borrower
nor any Obligor shall be liable to any Indemnitee for any special, indirect, consequential or punitive damages arising out of,
in connection with, this Agreement asserted by an Indemnitee against the Borrower or any other Obligor; provided that the
foregoing limitation shall not be deemed to impair or affect the Obligations of the Borrower or any other Obligor under the preceding
provisions of this subsection.

 

10.05. Successors
and Assigns. This Agreement shall be binding upon and inure to the benefit of the respective successors and assigns of the
Obligors and the Secured Parties (provided that none of the Obligors shall assign or transfer its rights or obligations
hereunder without the prior written consent of the Collateral Agent).

 

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10.06. Counterparts;
Integration; Effectiveness; Electronic Execution.

 

(a)       Counterparts;
Integration; Effectiveness. This 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. This Agreement
and any separate letter agreements with respect to fees payable to the Collateral Agent constitute the entire contract between
and among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral
or written, relating to the subject matter hereof. This Agreement shall become effective when it shall have been executed by the
Collateral Agent and when the Collateral Agent shall have received counterparts hereof which, when taken together, bear the signatures
of each of the other parties hereto, and thereafter shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns. Delivery of an executed counterpart of a signature page to this Agreement by telecopy or electronic
mail shall be effective as delivery of a manually executed counterpart of this Agreement.

 

(b)       Electronic
Execution of Assignments. The words “execution”, “signed”, “signature” shall be deemed
to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect,
validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be,
to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce
Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic
Transactions Act.

 

10.07. Severability.
Any provision of this Agreement held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability
of the remaining provisions hereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate
such provision in any other jurisdiction.

 

10.08. Governing
Law; Jurisdiction.

 

(a)       Governing
Law. This Agreement shall be construed in accordance with and governed by the law of the State of New York.

 

(b)       Submission
to Jurisdiction. Each Obligor hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive
jurisdiction of the Supreme Court of the State of New York sitting in New York County and of the United States District Court of
the Southern District of New York, and any appellate court from any thereof, in any action or proceeding arising out of or relating
to this Agreement, or for recognition or enforcement of any judgment, and each of the 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 court or,
to the extent permitted by law, in such Federal court. Each of the 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. Nothing in this Agreement shall affect any right that any Secured Party may otherwise have to bring any action or proceeding
relating to this Agreement against any Obligor or its properties in the courts of any jurisdiction.

 

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(c)       Waiver
of Venue. Each Obligor hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively
do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of
or relating to this Agreement in any court referred to in paragraph (b) of this Section. Each of the parties hereto
hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such
action or proceeding in any such court.

 

(d)       Service
of Process. Each party to this Agreement (i) irrevocably consents to service of process in the manner provided for notices
in Section 10.01 and (ii) agrees that service as provided in the manner provided for notices in Section 10.01
is sufficient to confer personal jurisdiction over such party in any proceeding in any court and otherwise constitutes effective
and binding service in every respect. Nothing in this Agreement will affect the right of any party to this Agreement to serve process
in any other manner permitted by law.

 

10.09. Waiver of
Jury Trial. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A
TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED
HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR
ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION,
SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO
THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

 

10.10. Keepwell.
To the extent that it is a Qualified ECP Loan Party at the time this Agreement (or any other Guarantee or Security Document) or
grant of a security interest under any of the other Loan Documents, becomes effective with respect to any Hedging Agreement Obligations,
each Obligor hereby jointly and severally, together with each other Qualified ECP Loan Party, absolutely, unconditionally and irrevocably
(a) guarantees the prompt payment and performance of all Hedging Agreement Obligations owing by each Non-Qualifying Party (it being
understood and agreed that this guarantee is a guaranty of payment and not of collection), and (b) undertakes to provide such funds
or other support as may be needed from time to time by any Non-Qualifying Party to honor all of such Non-Qualifying Party’s
obligations under this Agreement or any other Loan Document in respect of Hedging Agreement Obligations (provided that,
each Obligor shall only be liable under this Section 10.10 for the maximum amount of such liability that can be hereby
incurred without rendering its obligations under this Section 10.10, or otherwise under this Agreement or any
other Loan Document, voidable under applicable law, including fraudulent conveyance or fraudulent transfer laws, and not for any
greater amount). The obligations and undertakings of each applicable Obligor under this Section 10.10 shall remain
in full force and effect until the Secured Obligations have been indefeasibly paid and performed in full and all Commitments shall
have irrevocably terminated. Each such Obligor intends this Section 10.10 to constitute, and this Section 10.10
shall be deemed to constitute, a guarantee of the obligations of, and a “keepwell, support, or other agreement” for
the benefit of, each Obligor for all purposes of the Commodity Exchange Act.

 

    26 

     

    

  

10.11. Judgment
Currency. This is an international loan transaction in which the specification of Dollars or any Foreign Currency, as the
case may be (the “Specified Currency”), and payment in New York City or the country of the
Specified Currency, as the case may be (the “Specified Place”), is of the essence, and the
Specified Currency shall be the currency of account in all events relating to Loans denominated in the Specified Currency.
The payment obligations of the Obligors under this Agreement shall not be discharged or satisfied by an amount paid in
another currency or in another place, whether pursuant to a judgment or otherwise, to the extent that the amount so paid on
conversion to the Specified Currency and transfer to the Specified Place under normal banking procedures does not yield the
amount of the Specified Currency at the Specified Place due hereunder. If for the purpose of obtaining judgment in any court
it is necessary to convert a sum due hereunder in the Specified Currency into another currency (the “Second
Currency”), the rate of exchange that shall be applied shall be the rate at which in accordance with normal
banking procedures the Administrative Agent could purchase the Specified Currency with the Second Currency on the Business
Day next preceding the day on which such judgment is rendered. The obligation of any Obligor in respect of any such sum due
from it to the Administrative Agent or any Lender hereunder or under any other Loan Document (in this Section called an
“Entitled Person”) shall, notwithstanding the rate of exchange actually applied in rendering such
judgment be discharged only to the extent that on the Business Day following receipt by such Entitled Person of any sum
adjudged to be due hereunder in the Second Currency such Entitled Person may in accordance with normal banking
procedures purchase and transfer to the Specified Place the Specified Currency with the amount of the Second Currency so
adjudged to be due; and the Borrower hereby, as a separate obligation and notwithstanding any such judgment, agrees to
indemnify such Entitled Person against, and to pay such Entitled Person on demand, in the Specified Currency. The amount (if
any) by which the sum originally due to such Entitled Person in the Specified Currency hereunder exceeds the amount of the
Specified Currency so purchased and transferred.

 

10.12. Headings. Section headings and
the Table of Contents used herein are for convenience of reference only, are not part of this Agreement and shall not affect
the construction of, or be taken into consideration in interpreting, this Agreement.

 

[Signatures appear
on following pages.]

 

    27 

     

    

 

IN WITNESS WHEREOF,
the parties hereto have caused this Guarantee and Security Agreement to be duly executed and delivered as of the day and year first
above written.

 

OBLIGORS:

 

STELLUS CAPITAL INVESTMENT CORPORATION,

a Maryland corporation

By:________________________________________

Name:________________________________________

Title:_________________________________________

SCIC – ERC BLOCKER 1, INC.,

a Delaware corporation

By:________________________________________

Name:________________________________________

Title:_________________________________________

 

 

SCIC – SKP BLOCKER 1, INC.,

a Delaware corporation

By:________________________________________

Name:________________________________________

Title:_________________________________________

 

 

SCIC – APE BLOCKER 1, INC.,

a Delaware corporation

By:________________________________________

Name:________________________________________

Title:_________________________________________

 

 

SCIC – HUF BLOCKER 1, INC.,

a Delaware corporation

By:________________________________________

Name:________________________________________

Title:_________________________________________

 

    Signature Page – Guarantee and Security Agreement

     

    

 

SCIC – HOLLANDER BLOCKER 1, INC.,

a Delaware corporation

By:________________________________________

Name:________________________________________

Title:_________________________________________

 

 

SCIC – CC BLOCKER 1, INC.,

a Delaware corporation

By:________________________________________

Name:________________________________________

Title:_________________________________________

 

 

SCIC – CONSOLIDATED BLOCKER, INC.,

a Delaware corporation

By:________________________________________

Name:________________________________________

Title:_________________________________________

 

 

SCIC – ASC BLOCKER 1, INC.,

a Delaware corporation

By:________________________________________

Name:________________________________________

Title:_________________________________________

 

 

Address for Notices

Stellus Capital Investment Corporation

4400 Post Oak Parkway, Suite 2200

Houston, Texas 77027

Attention: W. Todd Huskinson

Email: Thuskinson@stelluscapital.com; Dblank@stelluscapital.com;
Vgarcia@stelluscapital.com

Telecopy Number: (713) 292-5414

Telephone: (713) 292-5454

 

 

    Signature Page – Guarantee and Security Agreement

     

    

 

ZB, N.A. dba AMEGY BANK,

as Administrative Agent and Collateral Agent

By:________________________________________

Name:________________________________________

Title:_________________________________________

Address for Notices

ZB, N.A. dba Amegy Bank

1717 West Loop South, 23rd Floor

Houston, Texas 77027

Attention: Natalie Garza

E-mail: Natalie.Garza@amegybank.com

Telephone Number: (713) 232-2197

Telecopy Number: (713) 571-5389

 

with a copy to:

Porter Hedges LLP

1000 Main Street, Floor 36

Houston, Texas 77002

Attention: Janine Lundin

E-mail: jlundin@porterhedges.com

Telephone Number: (713) 226-6651

Telecopy Number: (713) 226-6251

 

 

    Signature Page – Guarantee and Security AgreementExhibit

EXHIBIT 10.1
AMENDED AND RESTATED EMPLOYMENT AND 
NON-COMPETITION AGREEMENT
This Amended and Restated Employment and Non‐competition Agreement (this “Amended Agreement”) is made and entered into by and between Anthony M. Stollings (“Employee") and First Financial Bank (the "Company"), effective as of the Closing date of the Merger of MainSource Financial Group, Inc. (“MSFG”) with and into First Financial Bancorp., the parent organization of the Company (“FFBC”), pursuant to the Agreement and Plan of Merger between MSFG and FFBC dated July 25, 2017 (the "Effective Date")..
WHEREAS, the Company and Employee (each, the “Party,” and together, the “Parties” with respect to this Amended Agreement) were parties to an employment offer letter dated on or about December 13, 2006 regarding eligibility under the Key Management Severance Plan and any amendments thereto (the “Offer Letter”); and
WHEREAS, the Parties terminated the Offer Letter and entered into a Employment and Non-Competition Agreement dated November 13, 2013 (the “Prior Agreement”); and
WHEREAS, should the merger of MSFG with and into FFBC (the “Merger”) as described in the Agreement and Plan of Merger between the parties dated July 25, 2017 be successfully completed, the Company and Employee desire to continue Employee’s employment following such successful Merger pursuant to the terms and conditions provided herein as an amendment to and restatement of the Prior Agreement.
NOW, THEREFORE, the Parties hereby agree as follows:
		
	§ 1.
	Employment.  The Company hereby agrees to continue to employ Employee, and Employee hereby agrees to continue his employment with the Company, upon the terms and subject to the conditions described in this Amended Agreement.  

		
	§ 2.  
	Term.  This Amended Agreement is expressly conditioned upon the successful completion of the Merger.  Provided such condition is satisfied, the Initial Term of this Amended Agreement will begin on the day immediately following consummation of the Merger and shall continue until April 30, 2019 (the “Initial Term”), unless sooner terminated pursuant to § 6 of this Amended Agreement.  The term of this Amended Agreement shall renew automatically for successive one-year periods after the Initial Term (the “Renewal Terms”), unless and until terminated by either the Company or Employee at the end of the Initial Term or any Renewal Term, as applicable, upon not less than ninety (90) days’ prior written notice given by either Party prior to the end of the Initial Term or any Renewal Term, as applicable (it being understood that non-renewal of this Amended Agreement shall not result in a termination of employment unless the Party providing such notice of non-renewal also specifies in such notice that Employee’s employment shall terminate at the expiration of the then-current term).  The Initial Term and all Renewal Terms, if any, shall constitute the “Term,” unless sooner terminated pursuant to § 6 of this Amended Agreement.  Notwithstanding the foregoing, in the event of the consummation of a “Change in Control” of the Company (as defined below), the Term shall be the two-year period following the consummation of such Change in Control.

		
	§ 1.  
	Services.  During the Term, Employee shall be employed as the Chief Banking Officer of the Company or in a position that is comparable to such position in responsibility for which Employee is suited by education and background.  During the Term, Employee shall report directly to the Chief Executive Officer of the Company or to such other person as may be designated by the Chief Executive Officer from time to time (the “Reporting Person”) and 

    

shall perform such services and be responsible for such activities consistent with Employee’s then-current position with the Company as may be reasonably assigned to him from time to time by the Reporting Person or the Board of Directors of the Company (the “Board”) or a duly authorized Board committee, subject to the business policies and operating programs, budgets, procedures, and directions established from time to time by the Company (the “Services”).  Employee shall devote his best efforts and full business and professional time, attention, energy, loyalty, and skill to rendering the Services, seeing to the business affairs of the Company, and advancing the Company’s interests.  
		
	§ 2.  
	Compensation.

(A)    Base Compensation.  As compensation for his Services during the Term, the Company shall pay Employee a base salary at the annual rate of $415,000 (the “Base Salary”), payable in accordance with the Company’s general policies and procedures for payment of salaries to its executive officers as in effect from time to time.  Employee’s performance shall be reviewed by the Reporting Person not less often than annually for the purpose of evaluating potential increases in the Base Salary for recommendation to and approval by the Board or the Compensation Committee of the Board (the “Compensation Committee”), but the Company shall not be obligated to make any such increases.  
(B)    Short‐Term Bonus.  With respect to each fiscal year of the Company ending during the Term (including with respect to the fiscal year that includes the Effective Date), Employee shall be eligible to participate in the Company’s Annual Short-Term Bonus Plan or such other short‐term bonus compensation plan established by the Board or a Board committee as in effect from time to time (the “Bonus Plan”).  For purposes of the Bonus Plan, Employee’s target annual bonus opportunity shall be equal to fifty percent (50%) of the Employee’s annual rate of Base Salary as in effect at the start of the fiscal year of the Company to which the short-term bonus award relates (the “Target Bonus Amount”), with the actual amount and terms and conditions of any such short‐term bonus award to be determined by the Compensation Committee consistent with and subject to the terms of the Bonus Plan; provided, however, that, other than with respect to the Target Bonus Amount, the terms of the Bonus Plan applicable to Employee shall be comparable in all material respects to the terms applicable to the Company’s executive officers generally.  The bonus, if any, for each fiscal year shall be paid to Employee by no later than the fifteenth (15th) day of the third (3rd) month following the end of such fiscal year, unless the Company or Employee, as applicable, shall elect to defer the receipt of such bonus pursuant to an arrangement that meets the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”). 
(C)    Long‐Term Incentive Award Opportunity.  With respect to each fiscal year of the Company during the Term, Employee shall be eligible to be awarded a long‐term incentive award (“LTI Award”), with a target award opportunity having a value (based on the grant date value of any such LTI Award, as determined in accordance with the Company’s standard valuation methodology and procedures for equity and equity‐based awards as applied consistently with respect to other executive officers of the Company) equal to fifty percent (50%) of the Base Salary.  The actual amount and terms and conditions of any such LTI Award shall be determined by the Compensation Committee consistent with and subject to the terms of the applicable long‐term incentive plan of the Company as in effect from time to time.  
(D)    Employee Benefits.  During the Term, Employee shall be eligible to participate in the Company’s retirement plans, including any supplemental pension plan, as in effect from time to time, and welfare benefits and other group employee benefits, such as paid-time-off (or similar benefit), group disability and health, life, and accident insurance and similar indirect compensation programs, which may from time to time be offered generally to the Company’s executive officers, subject in each case to the terms and conditions of the applicable retirement 

2

plan, welfare plan,  or other benefit program and subject to the Company’s right to terminate, amend or modify such plans or programs in its sole discretion in accordance with their terms.
		
	§ 3.  
	Confidentiality; Non‐competition; Non‐solicitation; Non-disparagement.

(A)    Non-disclosure of Confidential Information..  
(1)    During Employee's employment with the Company or any Affiliated Company and after the termination of such employment for any reason, Employee shall not, without the prior written consent of the General Counsel of the Company (or such person's designee) or as may be otherwise required by law or legal process, communicate or divulge any Confidential Information to any person or entity other than the Company or an Affiliated Company, their employees, and those designated by the Company or an Affiliated Company, or use any Confidential Information except for the benefit of the Company or an Affiliated Company.  Upon service to Employee of any subpoena, court order or other legal process requiring Employee to disclose Confidential Information, Employee shall immediately provide written notice to Company of such service and the content of any Confidential Information to be disclosed.
(2)    Immediately upon the termination of Employee's employment with the Company or an Affiliated Company for any reason, Employee shall return to the Company or the applicable Affiliated Company all Confidential Information in Employee's possession, including but not limited to any and all copies, reproductions, notes, or extracts of Confidential Information in paper or electronic form.
(B)    Non‐competition.  During the Term and during the first six (6) months of the Restricted Period (as defined below), other than following a termination by the Company for Cause (as defined below) in which case this § 5(B) shall be inapplicable, Employee shall not, directly or indirectly, whether individually or as a shareholder or other owner, partner, member, director, officer, employee, independent contractor, creditor or agent of any person (other than for the Company), enter into, engage in, or promote or assist (financially or otherwise), directly or indirectly, any business which provides any commercial banking, savings banking, mortgage lending, or any similar lending or banking services (the “Restricted Services”) anywhere in the geographic area consisting of any county in which any of the Affiliated Companies operate banking offices at any time during the Term (the “Restricted Territory”).  Notwithstanding the foregoing, ownership, for personal investment purposes only, of 1% or less of the outstanding capital stock of a publicly traded corporation shall not constitute a violation hereof.
(C)    Non‐solicitation of Clients.  During the Term and during the Restricted Period, Employee shall not, directly or indirectly, whether individually or as a shareholder or other owner, partner, member, director, officer, employee, independent contractor, creditor or agent of any person (other than for the Company or any Affiliated Companies):
(1)    Solicit or attempt in any manner to persuade any Client of any Affiliated Company to cease to do business, to refrain from doing business or to reduce the amount of business which any Client has customarily done or contemplates doing with any of the Affiliated Companies; or
(2)    Interfere with or damage (or attempt to interfere with or damage) any relationship between an Affiliated Company and any Client.
(D)    Non‐solicitation of Employees; No Hire.  During the Term and during the Restricted Period, Employee shall not, directly or indirectly, whether individually or as a 

3

shareholder or other owner, partner, member, director, officer, employee, independent contractor, creditor or agent of any person (other than for any Affiliated Company):
(1)    Solicit any employee, officer, director, agent or independent contractor of any Affiliated Company to terminate his or her relationship with, or otherwise refrain from rendering services to, any Affiliated Company, or otherwise interfere or attempt to interfere in any way with any Affiliated Company’s relationship with any of its employees, officers, directors, agents or independent contractors; or
(2)    Hire, attempt to hire, employ or engage any person who, at any time within the two‐year period immediately preceding such hire, or attempt to hire, employment or engagement, was an employee, officer or director of any Affiliated Company.
(E)    Non‐disparagement.  Employee shall not, directly or indirectly, at any time (whether during the Term or thereafter), make any public statement (oral or written), or take any other action, that is disparaging to any Affiliated Company.  The provisions of this § 5(E) shall not preclude Employee from making truthful statements to correct any false statements made by any Affiliated Company or any person acting on behalf thereof about Employee or prohibit Employee from reporting possible violations of federal law or regulations, including any possible securities laws violations, to any governmental agency or entity, including but not limited to the U.S. Department of Justice or the U.S. Securities and Exchange Commission, or from participating in any investigation by such governmental agency or entity. 
(F)    Defined Terms.  For purposes of this Amended Agreement, the following terms shall have the meaning set forth below:
(1)    “Affiliated Companies” shall mean the Company, all of its direct or indirect subsidiaries, and any other entities controlled by, controlling, or under common control with the Company, including any successors thereof, except that, following the consummation of a Change in Control, for purposes of §§ 5(B) and 5(C), Affiliated Companies shall be limited to the Company and it subsidiaries as of immediately prior to the consummation of such Change in Control.
(2)    “Change in Control” has the meaning given such term in the 2012 Amended and Restated Stock Plan (or a successor plan thereto) as in effect on the Effective Date..
(3)    “Client” shall mean the customers or clients of the Company or any Affiliated Company and shall include any and all individuals, organizations, or business entities that: (a) were actual customers or clients of the Company or any Affiliated Company during Employee’s employment by the Company or any Affiliated Company, or which were prospective customers of the Company or any Affiliated Company during Employee’s employment; and (b) with which or whom Employee had contact or about whom Employee obtained Confidential Information during the Term from the Company or any Affiliated Company.  For purposes of this definition, an individual, organization, or business entity is a “prospective” client or customer of the Company or any Affiliated Company if the Employee or any other the Company or any Affiliated Company employee, officer or manager took steps to obtain or secure the business of the individual, organization, or business entity.
(4)    “Confidential Information” shall mean all trade secrets, proprietary data, and other confidential information of or relating to any Affiliated Company, including without limitation financial information, information relating to business operations, 

4

services, promotional practices, and relationships with customers, suppliers, employees, independent contractors, or other parties, and any information which any Affiliated Company is obligated to treat as confidential pursuant to any course of dealing or any agreement to which it is a party or otherwise bound, provided that Confidential Information shall not include information that is or becomes available to the general public and did not become so available through any breach of this Amended Agreement by Employee or Employee’s breach of a duty owed to the Company.
(5)    “Restricted Period” shall mean the two (2) - year period following Employee’s termination of employment with the Company or any Affiliated Company (whether pursuant to this Amended Agreement or otherwise) for any reason.
(6)    “Solicit” shall mean any direct or indirect communication of any kind whatsoever, regardless of by whom initiated, inviting, advising, persuading, encouraging or requesting any person or entity, in any manner, to take or refrain from taking any action; provided, however, that the term “Solicit” shall not include general advertisements by an entity with which Employee is associated or other communications in any media not targeted specifically at any specific individual described in § 5(C) or 5(D).
(G)    Enforcement; Remedies; Blue Pencil.  Employee acknowledges that:  (1) the various covenants, restrictions, and obligations set forth in this § 5 are separate and independent obligations, and may be enforced separately or in any combination; (2) the provisions of this § 5 are fundamental and essential for the protection of the Company’s and the Affiliated Companies’ legitimate business and proprietary interests, and the Affiliated Companies (other than the Company) are intended third-party beneficiaries of such provisions; (3) such provisions are reasonable and appropriate in all respects and impose no undue hardship on Employee; and (4) in the event of any violation by Employee of any of such provisions, the Company and, if applicable, the Affiliated Companies, will suffer irreparable harm and their remedies at law may be inadequate.  In the event of any violation or attempted violation of any provision of this § 5 by Employee, the Company and the Affiliated Companies, or any of them, as the case may be, shall be entitled to a temporary restraining order, temporary and permanent injunctions, specific performance, and other equitable relief, without any showing of irreparable harm or damage or the posting of any bond, in addition to any other rights or remedies that may then be available to them, including, without limitation, money damages and the cessation of the payment or provision of the severance payments and benefits as contemplated under § 7(D).  If any of the covenants set forth in this § 5 is finally held to be invalid, illegal or unenforceable (whether in whole or in part), such covenant shall be deemed modified to the extent, but only to the extent, of such invalidity, illegality or unenforceability, and the remaining such covenants shall not be affected thereby.
		
	§ 4.  
	Termination.

(A)    Employee’s employment with the Company and the Term of this Amended Agreement:
(1)    shall terminate automatically upon the death of Employee;
(2)    may be terminated by Employee other than for Good Reason (as defined below) upon not less than ninety (90) days’ prior written notice given to the Company;
(3)    may be terminated by the Company without Cause upon written notice to Employee at any time, which termination shall be effective immediately or as of such later date as specified in such notice (not to exceed thirty (30) days without Employee’s consent);

5

(4)    may be terminated by Employee at any time for Good Reason  upon not less than thirty (30) days’ prior written notice to the Company; or
(5)    may be terminated by the Company immediately upon notice to Employee at any time (a) for Cause or (b) if Employee is then under a Long‐Term Disability (as defined below).
(B)    For purposes of this Amended Agreement:
(1)    “Cause” shall mean any one or more of the following:
(a)    (i) an indictment of Employee, or plea of guilty or plea of nolo contendere by Employee, to a charge of an act constituting a felony under the federal laws of the United States, the laws of any state, or any other applicable law, (ii) fraud, embezzlement, or misappropriation of assets, (iii) willful misfeasance or dishonesty, or (iv) other actions or criminal conduct which materially and adversely affects the business (including business reputation) or financial condition of the Company;
(b)    the continued failure of Employee to (i) perform substantially Employee’s duties with the Company (other than any such failures resulting from incapacity due to physical or mental illness), (ii) observe all material obligations and conditions to be performed and observed by Employee under this Amended Agreement, or (iii) perform his duties in accordance, in all material respects, with the policies and directions established from time to time by the Board or a duly authorized Board committee (any such failure described in this subparagraph (b), shall be a “Performance Failure”), and to correct such Performance Failure within not more than fifteen (15) days following written notice from the Board delivered to Employee, which notice specifically identifies the manner in which the Board believes that Employee has not substantially performed; or
(c)    having corrected (or the Company having waived the correction of) a Performance Failure, the occurrence of any subsequent Performance Failure (whether of the same or different type or nature).
(2)    “Covered Employee” shall have the meaning provided in Code Section 162(m)(3) and related guidance.
(3)    “Long‐Term Disability” as determined in the sole discretion of the Company, that Employee is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or which has lasted, or can be expected to last, for a continuous period of not less than one (1) year.
(4)     “Good Reason” means Employee's termination of employment within ninety (90) days following the expiration of any cure period (discussed below) following the occurrence, without Employee's consent, of one or more of the following:  
(a)    A material reduction in Employee's base compensation (except where there is a reduction applicable to all similarly situated executive officers generally); provided, that a reduction of less than ten percent (10%) will not be considered a material reduction in base compensation; or
(b)    A material breach by the Company of a material provision of this Amended Agreement.

6

Employee will not be considered to have resigned for Good Reason unless Employee provides the Company with written notice of the existence of the applicable good reason condition within sixty (60) days of the date the Employee believes the condition first arose, specifically identifying the acts or omissions constituting the grounds for Good Reason and a reasonable cure period of not less than thirty (30) days following the date of such notice during which such condition must not have been cured.
		
	§ 5.  
	Severance.

(A)    Termination by the Company Other than for Cause or due to  Employee’s Death or Long‐Term Disability or by Employee for Good Reason.  In the event that (i) during the Term (or during the one-year period following the expiration of the Term due to non-renewal of this Amended Agreement at the election of the Company), the Company terminates Employee’s employment without Cause pursuant to § 6(A)(3) (for the avoidance of doubt, other than due to Employee’s death or Long‐Term Disability, which shall be governed by § 7(B) below) or (ii) during the Term, Employee terminates his employment for Good Reason pursuant to § 6(A)(4), and, within fifty (50) days following Employee’s date of termination, Employee provides the Company with (and does not revoke such release prior to the date specified therein) a separate, written release in substantially the form provided by and acceptable to the Company (the “Release”), Employee shall receive the following payments and benefits at the times specified below (subject to § 12 of this Amended Agreement, including the Delay of Payment provision in § 12(B)):
(1)    Employee’s accrued and unpaid Base Salary through the date of termination, to the extent not theretofore paid (the “Accrued Obligations”), which payments shall not be subject to the Release and shall be paid within thirty (30) days of the date of termination;
(2)    “Termination Compensation” equal to two years of Employee’s Base Salary (not taking into account any reduction in Base Salary that serves as the basis for a termination for Good Reason), payable in equal installments (no less frequently than monthly) over a 24-month period (the “Severance Period”) (commencing with the first payroll period following the sixtieth (60th) day after Employee’s date of termination of employment) in accordance with the Company’s general policies and procedures for the payment of salaries to its executive officers; 
(3)    “Termination Short‐Term Bonus”
(a)    In the event Employee is a Covered Employee for the year of his or her termination of employment or, as determined in the sole discretion of the Company, would have been a Covered Employee for such year if he or she had continued employment until the end of the year, then to the extent necessary to ensure the deductibility of compensation otherwise payable to Employee under the Company’s Bonus Plan, a lump sum payment equal to the lesser of (x) two and one half (2.5) times the target bonus amount or (y) two (2) times the average of the three most recent actual annual bonus awards paid (or payable) to Executive by the Company (or, the average actual annual bonus payouts for such lesser number of completed performance years for which Employee was eligible to receive an annual bonus) under the Bonus Plan. 
(b)    In the event subparagraph 3(a) does not apply, then in lieu of the amount otherwise payable to Employee under subparagraph 3(a), a payment equal to two (2) times the Target Bonus Amount.  

7

The Termination Short Term Bonus will be payable in a lump sum on the sixtieth (60th) day following Employee’s date of termination (the Termination Compensation and Termination Short‐Term Bonus, collectively, the “Severance Benefits”).  
(4)    During the one‐year period following the date of termination, Employee shall be entitled to full executive outplacement assistance with an  agency selected by the Company with the fee paid by the Company in an amount not to exceed five percent (5%) of Employee’s Base Salary;
(5)    If the Company’s severance plan of general applicability as in effect on Employee’s date of termination provides for continued payment by the Company of all or a portion of the cost of the premiums for continuation coverage under the Company’s health care plan pursuant to Section 4980B of the Code (“COBRA Coverage”) and  if the Employee timely and properly elects such COBRA Coverage, the Company shall pay on the Employee’s behalf the difference between the monthly COBRA Coverage premium paid by the Employee for himself and his dependents and the monthly premium amount paid by similarly situated active executives for the same coverage.  Such reimbursement shall be paid directly to the COBRA Coverage administrator (if any) and shall be treated as a taxable benefit to the Employee. The Employee shall be eligible to receive such reimbursement until the earliest of: (i) the twelve-month anniversary of the Employee’s termination of employment; (ii) the date the Employee is no longer eligible to receive COBRA Coverage; and (iii) the date on which the Employee otherwise becomes eligible to receive substantially similar coverage from another employer.  The Company reserves the right to modify or terminate the COBRA Coverage benefit provided hereunder to the extent necessary to comply with applicable law.   
(6)    Any other benefits (other than benefits under any severance or termination pay plan of the Company or any Affiliated Entity) that are otherwise required to be provided to Employee or to which Employee is otherwise eligible to receive through the date of termination under the terms of the applicable Company plan shall be provided to Employee consistent with the terms of the applicable Company plan (the “Other Benefits”).  Such payments and benefits shall not be subject to the Release.
(B)    Due to Employee’s Death or Long‐Term Disability, by the Company for Cause or by Employee Other than for Good Reason.  If, during the Term, Employee’s employment is terminated by reason of his death or Long‐Term Disability, by the Company for Cause or voluntarily by Employee for any reason other than for Good Reason, the Company’s obligations to Employee shall be limited to the following (1) the payment of the Accrued Obligations and (2) the timely payment or provision of the Other Benefits.  The Accrued Obligations shall be paid to Employee or his estate or beneficiary in the event of his death, as applicable, in a lump sum in cash within thirty (30) days of the date of termination.    
(C)    Full Settlement.  Except as expressly provided in this § 7, Employee shall have no right to receive any compensation or other benefits under this Amended Agreement as a result of or in connection with the termination of his employment with the Company or for any period after such termination.
(D)    Cessation of Payments and Benefits.  Notwithstanding any other provision of this Amended Agreement to the contrary, the obligation of the Company to pay or provide the Severance Benefits and the benefits under §§ 7(A)(4) and (5) that are otherwise payable or to be provided following termination of Employee’s employment with the Company shall automatically and immediately terminate upon a breach by Employee of this Amended Agreement, including without limitation a breach of Employee’s obligations under § 5, other than an immaterial and 

8

inadvertent breach that is discontinued and/or remedied (to the extent subject to cure) by Employee promptly.
		
	§ 6.  
	Limitation on Payments Under Certain Circumstances.

(A)    Anything in this Amended Agreement to the contrary notwithstanding, in the event the Accounting Firm (as defined below) shall determine that receipt of all Payments (as defined below) would subject Employee to the excise tax under Section 4999 of the Code, the Accounting Firm shall determine whether to reduce any of the Payments paid or payable pursuant to this Amended Agreement (the “Agreement Payments”) so that the Parachute Value (as defined below) of all Payments, in the aggregate, equals the Safe Harbor Amount (as defined below).  The Agreement Payments shall be so reduced only if the Accounting Firm determines that Employee would have a greater Net After‐Tax Receipt (as defined below) of aggregate Payments if the Agreement Payments were so reduced.  If the Accounting Firm determines that Employee would not have a greater Net After‐Tax Receipt of aggregate Payments if the Agreement Payments were so reduced, Employee shall receive all Agreement Payments to which Employee is entitled hereunder.
(B)    If the Accounting Firm determines that the aggregate Agreement Payments should be reduced so that the Parachute Value of all Payments, in the aggregate, equals the Safe Harbor Amount, the Company shall promptly give Employee notice to that effect and a copy of the detailed calculation thereof.  All determinations made by the Accounting Firm under this § 8 shall be binding upon the Company and Employee and shall be made as soon as reasonably practicable and in no event later than thirty (30) days following the date of termination.  For purposes of reducing the Agreement Payments so that the Parachute Value of all Payments, in the aggregate, equals the Safe Harbor Amount, only amounts payable under this Amended Agreement (and no other Payments) shall be reduced.  The reduction of the amounts payable hereunder, if applicable, shall be made by reducing the payments and benefits under the following sections in the following order:  (1) first, any Payments under § 7(A)(4); (2) second, any Payments under § 7(A)(5); (3) third, any Payments under § 7(A)(2); and (4) fourth, any Payments under § 7(A)(3).  All fees and expenses of the Accounting Firm shall be borne solely by the Company.
(C)    As a result of the uncertainty in the application of Section 4999 of the Code at the time of the initial determination by the Accounting Firm hereunder, it is possible that amounts will have been paid or distributed by the Company to or for the benefit of Employee pursuant to this Amended Agreement that should not have been so paid or distributed (“Overpayment”) or that additional amounts which will have not been paid or distributed by the Company to or for the benefit of Employee pursuant to this Amended Agreement could have been so paid or distributed (“Underpayment”), in each case, consistent with the calculation of the Safe Harbor Amount hereunder. In the event that the Accounting Firm, based upon the assertion of a deficiency by the Internal Revenue Service against either the Company or Employee that the Accounting Firm believes has a high probability of success, determines that an Overpayment has been made, Employee shall promptly (and in no event later than sixty (60) days following the date on which the Overpayment is determined) pay any such Overpayment to the Company together with interest at the applicable federal rate provided for in Section 7872(f)(2) of the Code; provided, however, that no amount shall be payable by Employee to the Company if and to the extent such payment would not either reduce the amount on which Employee is subject to tax under Sections 1 and 4999 of the Code or generate a refund of such taxes.  If the Accounting Firm, based upon controlling precedent or substantial authority, determines that an Underpayment has occurred, any such Underpayment shall be paid promptly (and in no event later than sixty (60) days following the date on which the Underpayment is determined) by the Company to or for the benefit of Employee together with interest at the applicable federal rate provided for in Section 7872(f)(2) of the Code.

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(D)    To the extent requested by Employee, the Company shall cooperate with Employee in good faith in valuing, and the Accounting Firm shall take into account the value of, services provided or to be provided by Employee (including without limitation Employee’s agreeing to refrain from performing services pursuant to a covenant not to compete or similar covenant, including that set forth in § 5 of this Amended Agreement) before, on or after the date of a change in ownership or control of the Company (within the meaning of Q&A‐2(b) of the final regulations under Section 280G of the Code), such that payments in respect of such services may be considered reasonable compensation within the meaning of Q&A‐9 and Q&A‐40 to Q&A‐44 of the regulations under Section 280G of the Code and/or exempt from the definition of the term “parachute payment” within the meaning of Q&A‐2(a) of the regulations under Section 280G of the Code in accordance with Q&A‐5(a) of the regulations under Section 280G of the Code.
(E)    § 8 Definitions.  The following terms shall have the following meanings for purposes of this § 8:
“Accounting Firm” shall mean a nationally recognized certified public accounting firm that is selected by the Company for purposes of making the applicable determinations under § 8 and is reasonably acceptable to Employee, which firm shall not, without Employee’s consent, be a firm serving as accountant or auditor for the individual, entity or group effecting the change in control or ownership.
“Net After‐Tax Receipt” shall mean the present value (as determined in accordance with Sections 280G(b)(2)(A)(ii) and 280G(d)(4) of the Code) of a Payment net of all taxes imposed on Employee with respect thereto under Sections 1 and 4999 of the Code and under applicable state and local laws, determined by applying the highest marginal rate under Section 1 of the Code and under state and local laws which applied to Employee’s taxable income for the immediately preceding taxable year, or such other rate(s) as the Accounting Firm determined to be likely to apply to Employee in the relevant tax year(s).
“Parachute Value” of a Payment means the present value as of the date of the change of control for purposes of Section 280G of the Code of the portion of such Payment that constitutes a “parachute payment” under Section 280G(b)(2) of the Code, as determined by the Accounting Firm for purposes of determining whether and to what extent the excise tax under Section 4999 of the Code will apply to such Payment.
“Payment” means any payment or distribution in the nature of compensation (within the meaning of Section 280G(b)(2) of the Code) to or for the benefit of Employee, whether paid or payable pursuant to this Amended Agreement or otherwise.
“Safe Harbor Amount” means (A) 3.0 times Employee’s “base amount,” within the meaning of Section 280G(b)(3) of the Code, minus (B) $1.00.
		
	§ 7.  
	Company Policies.  Employee acknowledges that at all times he and the compensation he receives (or is eligible to receive) from the Company pursuant to this Amended Agreement or otherwise shall be subject to the policies of the Company, including the Company’s stock ownership guidelines and clawback or recoupment policies, as in effect from time to time.

		
	§ 8.  
	Capacity.  Employee represents and warrants to the Company that he has the capacity and right to enter into this Amended Agreement and perform all of his obligations under this Amended Agreement without any restriction.

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	§ 9.  
	Arbitration.  

(A)    Arbitration.  Subject to the right of the Company and the Affiliated Companies to exercise the remedies described in § 5 of this Amended Agreement or the right of Employee to challenge, defend or contest same in any court having jurisdiction, the Parties agree that any and all controversies, claims, or disputes between Employee and the Company or any employee, officer, director, shareholder or benefit plan of the Company in their capacity as such or otherwise arising out of, relating to, or resulting from Employee's employment with the Company or termination thereof, including any breach of this Amended Agreement, will be subject to binding arbitration under the then applicable Commercial Arbitration Rules of the American Arbitration Association. Claims subject to arbitration include but are not limited to claims under Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act of 1990, the Age Discrimination in Employment Act of 1967, the Older Workers Benefit Protection Act, the Sarbanes Oxley Act, the Worker Adjustment and Retraining Notification Act, the Family and Medical Leave Act, the Ohio Employment Practices Law, the Ohio Whistleblower Protection Law,  the Ohio Equal Pay Law, and  the Ohio State Wage Payment and Work Hour Laws, claims for breach of contract (express or implied), claims for violation of public policy or wrongful termination, and any other statutory or common law claim.
(B)    Procedure.  In any such arbitration, the arbitrators shall consist of a panel of three arbitrators, which shall act by majority vote and which shall consist of one arbitrator selected by each party subject to the arbitration and a third arbitrator selected by the two arbitrators so selected, who shall be either a certified public accountant or an attorney at law licensed to practice in the State of Ohio and who shall act as chairman of the arbitration panel; provided that, if one party selects its arbitrator for the panel and the other party fails to so select its arbitrator within ten (10) business days after being requested by the first party to do so, then the sole arbitrator shall be the arbitrator selected by the first party.  A decision in any such arbitration shall apply both to the particular question submitted and to all similar questions arising thereafter and shall be binding and conclusive upon both parties and shall be enforceable in any court having jurisdiction over the party to be charged.  Each party shall bear the cost of its own attorney’s fees.  However, if any party prevails on a claim, which, according to applicable law, affords the prevailing party attorney’s fees, the arbitrator may award reasonable attorney’s fees to the prevailing party.  All other costs and expenses of arbitration shall be borne by the Company.  All rights and remedies of each party under this Amended Agreement are cumulative and in addition to all other rights and remedies that may be available to that party from time to time, whether under any other agreement, at law or in equity.  Any arbitration under this Amended Agreement shall be conducted in Cincinnati, Ohio.
(C)    Remedy.  Except as otherwise provided by law or this Amended Agreement, arbitration shall be the sole, exclusive, and final remedy for any dispute between Employee and the Company.  Accordingly, except as otherwise provided by law or this Amended Agreement, Employee and the Company hereby waive the right to seek remedies for any such disputes in court, including the right to a jury trial.  Notwithstanding, the arbitrator will not have the authority to disregard or refuse to enforce any lawful Company policy, and the arbitrator will not order or require the Company to adopt a policy not otherwise required by law which the Company has not adopted.
(D)    Administrative Relief.  Employee is not prohibited from pursuing an administrative claim with a local, state, or federal administrative body or government agency that is authorized to enforce or administer laws related to employment, including, but not limited to, the Department of Fair Employment and Housing, the Equal Employment Opportunity Commission, the National Labor Relations Board, or the Workers' Compensation Board.  However, Employee may not pursue court action regarding any such claim, except as permitted by law.

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	§ 10.  
	Section 409A of the Code.

(A)    Although the Company does not guarantee the tax treatment of any payments under the Amended Agreement, the intent of the Parties is that the payments and benefits under this Amended Agreement be exempt from, or comply with Section 409A of the Code and the final regulations and any guidance promulgated thereunder or any state law equivalent (together referred to herein as “Code Section 409A”) and to the maximum extent permitted the Amended Agreement shall be limited, construed and interpreted in accordance with such intent.  In no event whatsoever shall the Company or its affiliates or their respective officers, directors, employees or agents be liable for any additional tax, interest or penalties that may be imposed on Employee by Code Section 409A or damages for failing to comply with Code Section 409A.
(B)    Notwithstanding any other provision of this Amended Agreement to the contrary, to the extent that any reimbursement of expenses constitutes “deferred compensation” under Code Section 409A, such reimbursement shall be provided no later than December 31 of the year following the year in which the expense was incurred.  The amount of expenses reimbursed in one year shall not affect the amount eligible for reimbursement in any subsequent year.  The amount of any in-kind benefits provided in one year shall not affect the amount of in-kind benefits provided in any other year.
(C)    For purposes of Code Section 409A (including, without limitation, for purposes of Treasury Regulation Section 1.409A-2(b)(2)(iii)), the right to receive payments in the form of installment payments shall be treated as a right to receive a series of separate payments and, accordingly, each installment payment shall at all times be considered a separate and distinct payment.  Whenever a payment under this Amended Agreement may be paid within a specified period, the actual date of payment within the specified period shall be within the sole discretion of the Company.
(D)    Notwithstanding any other provision of this Amended Agreement to the contrary, if at the time of Employee’s separation from service (as defined in Code Section 409A), Employee is a “Specified Employee”, then the Company will defer the payment or commencement of any nonqualified deferred compensation subject to Code Section 409A payable upon separation from service (without any reduction in such payments or benefits ultimately paid or provided to Employee) until the date that is the first business day of the seventh month following Employee’s separation from service or, if earlier, the earliest other date as is permitted under Code Section 409A (and any amounts that otherwise would have been paid during this deferral period will be paid in a lump sum on the first business day of the seventh month following Employee’s separation from service  or such shorter period, if applicable).  Employee will be a “Specified Employee” for purposes of this Amended Agreement if, on the date of Employee’s separation from service, Employee is an individual who is, under the method of determination adopted by the Company designated as, or within the category of employees deemed to be, a “Specified Employee” within the meaning and in accordance with Treasury Regulation Section 1.409A-1(i).  The Company shall determine in its sole discretion all matters relating to who is a “Specified Employee” and the application of and effects of the change in such determination.
(E)    Notwithstanding anything in this Amended Agreement or elsewhere to the contrary, a termination of employment shall not be deemed to have occurred for purposes of any provision of this Amended Agreement providing for the payment of any amounts or benefits that constitute “non-qualified deferred compensation” within the meaning of Code Section 409A upon or following a termination of the Employee’s employment unless such termination is also a “separation from service” within the meaning of Code Section 409A and, for purposes of any such provision of this Amended Agreement, references to a “termination,” “termination of employment” or like terms shall mean “separation from service” and the date of such separation from service shall be the date of termination for purposes of any such payment or benefits.

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	§ 11.  
	Withholding.  The Company may withhold from any amounts payable under this Amended Agreement such federal, state, local or foreign taxes as shall be required to be withheld pursuant to any applicable law or regulation.

		
	§ 12.  
	Survival.  Upon the expiration of the Term or other termination of this Amended Agreement, the respective rights and obligations of the Parties shall survive such expiration or other termination to the extent necessary to carry out the intentions of the Parties under this Amended Agreement.  The termination of Employee’s employment by the Company (for any reason) shall not relieve either Party of its obligations existing at, arising as a result of, or relating to acts or omissions occurring prior to, such termination.  Without limiting the generality of the preceding sentence, in no event shall the termination of such employment modify or affect any obligations of Employee or rights of the Company or the Affiliated Companies under § 5 of this Amended Agreement, all of which shall survive the termination of such employment.

§ 13.      Notices.  All notices and other communications under this Amended Agreement to either Party shall be in writing and shall be deemed given when (a) delivered personally to that Party, (b) telecopied (which is confirmed) to that Party, (c) mailed by certified mail (return receipt requested) to that Party at the address for that Party set forth in this Amended Agreement, or (d) delivered to Federal Express, UPS, or any similar express delivery service for delivery the next business day to that Party at that address.
If to the Company:  First Financial Bancorp.  
255 East Fifth Street  
Cincinnati, Ohio  45202  
Attention:  General Counsel
If to Employee:  At the most recent address on file at the Company.
Either Party may change its address for notices under this Amended Agreement by giving the other Party written notice of such change.
		
	§ 14.  
	Severability.  The intention of the Parties is to comply fully with all rules, laws, and public policies to the extent possible.  If and to the extent that any court of competent jurisdiction is unable to so construe any provision of this Amended Agreement and holds that provision to be invalid, such invalidity shall not affect the remaining provisions of this Amended Agreement, which shall remain in full force and effect.  With respect to any provision in this Amended Agreement finally determined by such a court to be invalid or unenforceable, such court shall have jurisdiction to reform this Amended Agreement to the extent necessary to make such provision valid and enforceable, and, as reformed, such provision shall be binding on the Parties.

		
	§ 15.  
	Non‐Waiver.  No failure by either Party to insist upon strict compliance with any term of this Amended Agreement, to exercise any option, to enforce any right, or to seek any remedy upon any default of the other Party shall affect, or constitute a waiver of, the other Party’s right to insist upon such strict compliance, exercise that option, enforce that right, or seek that remedy with respect to that default or any prior, contemporaneous, or subsequent default.  No custom or practice of the Parties at variance with any provision of this Amended Agreement shall affect or constitute a waiver of either Party’s right to demand strict compliance with all provisions of this Amended Agreement.

		
	§ 16.  
	Complete Agreement.  This Amended Agreement constitutes the entire agreement of the Parties and supersedes in their entirety all prior or contemporaneous representations, understandings, undertakings or agreements (whether oral or written and whether expressed or implied) of the parties with respect to the subject matter hereof, including, but not limited to, 

13

the Prior Agreement and the Offer Letter.  Employee acknowledges and agrees that this Amended Agreement encompasses all the rights of Employee to any severance payments and/or benefits based on the termination of Employee’s employment and Employee hereby agrees that he or she has no such rights except as stated herein.  No waiver, alteration, or modification of any of the provisions of this Amended Agreement will be binding unless in writing and signed by duly authorized representatives of the parties hereto and which specifically mention this Amended Agreement.   
		
	§ 17.  
	Governing Law.  This Amended Agreement shall be governed by and construed in accordance with the laws of the State of Ohio applicable to contracts to be executed and performed entirely in such state.

§ 18.      Captions.  The captions of the various sections of this Amended Agreement are not part of the context of this Amended Agreement, are only guides to assist in locating those sections, and shall be ignored in construing this Amended Agreement.
§ 19.      Genders and Numbers.  Where permitted by the context, each pronoun used in this Amended Agreement includes the same pronoun in other genders and numbers, and each noun used in this Amended Agreement includes the same noun in other numbers.
		
	§ 20.  
	Successors.  

(A)    Company Successors.  Any successor to the Company (whether direct or indirect and whether by purchase, merger, consolidation, liquidation or otherwise) to all or substantially all of the Company's business and/or assets will assume the obligations under this Amended Agreement and agree expressly to perform the obligations under this Amended Agreement in the same manner and to the same extent as the Company would be required to perform such obligations in the absence of a succession.  For all purposes under this Amended Agreement, the term “Company” will include any successor to the Company's business and/or assets which executes and delivers the assumption agreement described in this Section 22(A) or which becomes bound by the terms of this Amended Agreement by operation of law.
(B)    Employee's Successors.  The terms of this Amended Agreement and all rights of Employee hereunder will inure to the benefit of, and be enforceable by, Employee's personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees.
§ 21.      Counterparts.  This Amended Agreement may be executed in multiple counterparts, each of which shall be deemed to be an original, but all of which taken together shall constitute one and the same agreement.
§ 22.      Compliance with Applicable Law.   The benefits paid and provided under this Amended Agreement are subject to and conditioned upon compliance with applicable requirements of federal, state and local law and regulation, whether currently in effect or subsequently enacted, including without limitation, 12 U.S.C. Section 1828(k) and the regulations promulgated thereunder in 12 C.F.R. Part 359.  Consistent with the foregoing, the Company shall have the right to defer, cancel or recoup any payment or refuse to provide any benefit under this Amended Agreement in the event the Company determines in good faith, acting in its sole discretion, that making such payment or providing such benefit violates any applicable law or regulation.  Further, benefits paid and provided under this Amended Agreement may be subject to any claw back policy generally applicable to the executives of the Company as may be required by applicable law or as may be established by the Company in its sole discretion. To the extent determined necessary to comply with the Guidance on Sound Incentive Compensation Policies issued by the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation and the Office of Thrift Supervision on June 21, 2010, as it may 

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be implemented, modified and interpreted from time to time, the Employee and the Company mutually agree to amend the provisions of this Amended Agreement and to cooperate in good faith with respect thereto.

IN WITNESS THEREOF, Employee has hereunto set his hand, and the Company has caused these presents to be executed in its name and on its behalf, all as of the day and year first above written.

EMPLOYEE        FIRST FINANCIAL BANK
 
 
/s/ Anthony M. Stollings        By: /s/ Claude E. Davis
Anthony M. Stollings        Name:  Claude E. Davis
Title:  Chief Executive Officer 
 
 
10/13/2017        10/13/2017                 
Date        Date

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