Document:

Exhibit

Exhibit 10.27

Executed Version

OMNIBUS AMENDMENT AND WAIVER

This Omnibus Amendment and Waiver (this “Amendment and Waiver”), dated as of October 14, 2016 amends and modifies (a) the Credit and Guaranty Agreement, dated as of February 25, 2016 (as amended, restated, supplemented or otherwise modified from time to time the “Credit Agreement”), by and among Cheniere Energy Partners, L.P. (“Borrower”), The Bank of Tokyo-Mitsubishi UFJ, Ltd., as Administrative Agent (in such capacity, the “Administrative Agent”), the Lenders party thereto from time to time (referred to herein as the “Lenders”) and each other Person party thereto from time to time and (b) the Depositary Agreement, dated as of February 25, 2016 (as amended, restated, supplemented or otherwise modified from time to time, the “Depositary Agreement”), by and among Borrower, MUFG Union Bank, N.A., as Collateral Agent (in such capacity, the “Collateral Agent”) and MUFG Union Bank, N.A., as Depositary Agent (in such capacity, the “Depositary Agent”) and each other Person party thereto from time to time. All capitalized terms used herein and not otherwise defined shall have the meanings ascribed to such terms in the Credit Agreement.

WHEREAS, the Borrower, the Administrative Agent, the Collateral Agent, and each other Person party thereto from time to time have entered into that certain Intercreditor Agreement, dated as of February 25, 2016 (as amended, restated, supplemented or otherwise modified from time to time, the “Intercreditor Agreement”);

WHEREAS, the Borrower has requested that the Administrative Agent, the Collateral Agent and the Requisite Lenders agree to amend and modify the Credit Agreement and the Depositary Agreement as set forth herein and grant a waiver under the Credit Agreement as set forth in Section 3.1 of this Amendment and Waiver;

WHEREAS, the Administrative Agent, the Collateral Agent and the Requisite Lenders are willing to amend and modify certain provisions in the Credit Agreement and Depositary Agreement as set forth herein and grant the waiver set forth in Section 3.1 of this Amendment and Waiver;

WHEREAS, the Borrower has requested that the each of the Lenders and DSR Issuing Banks grant a waiver under the Credit Agreement as set forth in Section 3.2 of this Amendment and Waiver; and

WHEREAS, each of the Lenders and DSR Issuing Banks is willing to grant the waiver set forth in Section 3.2 of this Amendment and Waiver.

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

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Section 1.    Amendments to Credit Agreement. Each of the Borrower, the Administrative Agent, the Collateral Agent and the Lenders party to this Amendment  and Waiver (constituting the Requisite Lenders) agrees that:

1.1    The reference to “Section 3.3(e)(i)” in the definition of “SPLNG Funding Date Mortgaged Property” is hereby updated to “Section 3.3(f)(i)”.

1.2    The reference to “Local Distribution Account” in Sections 1.1 and 2.2(b)(iv) of the Credit Agreement is hereby modified to refer to the “Local Distribution Accounts.”

1.3    The reference to “a Local Distribution Account” in Sections 6.18 of the Credit Agreement is hereby modified to refer to the “the Local Distribution Accounts.”

1.4    The reference to “Local Distribution Account” in Exhibit D-1 of  the Credit Agreement is hereby modified to refer to the “Local Distribution Account[s].”

1.5    Section 5.1(b) of the Credit Agreement shall be amended and restated as follows:

“Annual Financial Statements. As soon as available, and in any event within 120 days after the end of each Fiscal Year, commencing with the Fiscal Year ended December 31, 2015, (i) a consolidated balance sheet of the Borrower and its Subsidiaries and a consolidated balance sheet of SPLNG and its Subsidiaries, in each case, as at the end of such Fiscal Year and the related consolidated statements of income, stockholders’ equity and cash flows of the Borrower and its Subsidiaries and SPLNG and its Subsidiaries for such Fiscal Year, setting forth in each case in comparative form the corresponding figures for the previous Fiscal Year, all in reasonable detail, together with a Financial Officer Certification; and (ii) with respect to such consolidated financial statements a report thereon of an independent certified public accountants of recognized national standing (which report and/or the accompanying financial statements shall be unqualified as to going concern and scope of audit and shall state that such consolidated financial statements fairly present, in all material respects, the consolidated financial position of the Borrower and its Subsidiaries and SPLNG and its Subsidiaries, in each case, as at the dates indicated and the results of their operations and their cash flows for the periods indicated in conformity with GAAP applied on a basis consistent with prior years (except as otherwise disclosed in such financial statements) and that the examination by such accountants in connection with such consolidated financial statements has been made in accordance with generally accepted auditing standards)”.

1.6    Section 5.11 of the Credit Agreement shall be amended and restated as follows:

“Interest Rate Protection. No later than forty-five (45) days following the Closing Date, Borrower shall enter into and thereafter maintain in full force and effect, from time to time, one or more Permitted Hedging Agreements on terms reasonably satisfactory to the Borrower and the Requisite Lenders with respect to no less than 50% (calculated on a weighted average basis) of (A) from the period between the entry into such Permitted Hedging Agreements 

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and November 30, 2016, the projected aggregate outstanding balance of the CCTP Term Loans and (B) on and after December 1, 2016, the projected aggregate outstanding balance of the Term Loans, for a term of no less than four (4) years; provided that Permitted Hedging Agreements with respect to the SPLNG Tranche
shall be on a forward start basis starting no later than November 2016.”

Section 2.    Amendments to Depositary Agreement. Each of the Borrower, the Administrative Agent, the Collateral Agent and the Lenders party to this Amendment  and Waiver (constituting the Requisite Lenders) agrees that:

2.1    Section 1.1 of the Depositary Agreement shall be amended by amending and restating the definition of “Local Distribution Account” as follows:

“Local Distribution Accounts” shall mean up to two accounts of the Borrower identified in writing by Borrower to the Collateral Agent (and including any successor accounts). Such accounts shall be subject to a perfected Lien of the Collateral Agent pursuant to a Control Agreement, as and to the extent required by Section 3.10(b).”

2.2    The references in (a) paragraphs “Eighth” and “Ninth” of Section 3.1, (b) the lead in to Section 3.10(a) and (c) Section 3.10(a)(iii), in each case, to “the Local Distribution Account” shall be amended to refer to “a Local Distribution Account (as directed by the Borrower)”.

2.3    The reference in Section 3.10(c) to “the Local Distribution Account” shall be amended to refer to “any Local Distribution Account”.

2.4    The heading to Section 3.10 shall be amended and restated as “Local Distribution Accounts”.

2.5    Section 3.10(b) shall be amended and restated as follows:

“With respect to each Local Distribution Account of the Borrower, the Borrower shall deliver to the Collateral Agent a fully executed Control Agreement within 30 days of establishing such account.”

Section 3.    Waiver to the Credit Agreement and Depositary Agreement.  Each of the Administrative Agent, the Collateral Agent and the Lenders party to this Amendment and Waiver (constituting the Requisite Lenders) hereby waives:

3.1    any non-compliance with Section 5.1(b) of the Credit Agreement by the Borrower insofar as such non-compliance relates to the amendments contemplated in Section 1 of this Amendment and Waiver.

3.2    delivery of a Landlord Consent and Estoppel pursuant to Section 3.3(f)(ii)(B) of the Credit Agreement solely with respect to the Leasehold estate created by that certain Lease Agreement dated effective January 15, 2005 (the “Davis Lease”), by and between George A. Davis, et al, as Lessors, and Sabine Pass LNG, L.P., as Lessee, recorded on February 25, 2005, in 

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Conveyance Book 999 under Entry No. 291103 of the records of Cameron Parish, Louisiana, as amended by that certain Amendment to Lease dated effective February 24, 2005, by and between George A. Davis, et al, as Lessors, and Sabine Pass LNG, L.P., as Lessee, recorded January 5, 2006, under File No. 295504, of the records of Cameron Parish, Louisiana; provided that the Borrower shall agree to use commercially reasonable efforts to obtain such Landlord Consent and Estoppel between the date hereof and the SPLNG Funding Date.

Section 4.    Representations and Warranties.  The Borrower hereby represents and warrants to the Lenders that:

4.1    no Default or Event of Default has occurred and is continuing as of the date hereof (after giving effect to the waiver in Section 3 of this Amendment and Waiver) or will result from the consummation of the transactions contemplated by the Amendment; and

4.2    each of the representations and warranties of the Borrower in the Credit Agreement and the other Financing Documents is true and correct in all material respects except for those representations and warranties that are qualified by materiality, which shall be true and correct in all respects, on and as of the date hereof (or, if stated to have been made solely as of an earlier date, as of such earlier date).

4.3    The parcel of land subject to the Davis Lease (“Parcel C”) is not material to the operations of the Borrower or any of its Subsidiary Guarantors.

4.4    No portion of the SPLNG Terminal is situated on Parcel C.

Section 5.    Effectiveness.  This  Amendment  and  Waiver  shall   become effective as of the date hereof upon the Administrative Agent receiving executed counterparts of this Amendment and Waiver by each of the Borrower, the Collateral Agent, the Administrative Agent and the Requisite Lenders.

Section 6.    Financing Document. This Amendment and Waiver constitutes a Financing Document as such term is defined in, and for purposes of, the Credit Agreement.

Section 7.    Governing Law.  THIS AMENDMENT AND WAIVER SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, UNITED STATES OF AMERICA, WITHOUT ANY REFERENCE TO THE CONFLICT OF LAW PRINCIPLES THEREOF (OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW).

Section 8.    Headings. All headings in this  Amendment  and  Waiver  are included only for convenience and ease of reference and shall not be considered in the construction and interpretation of any provision hereof.

Section 9.    Binding Nature and Benefit.   This Amendment and Waiver shall be binding upon and inure to the benefit of each party hereto and their respective successors and permitted assigns.

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Section 10.    Counterparts. This Amendment and Waiver may be executed in multiple counterparts, each of which shall be deemed an original for all purposes, but all of which together shall constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this Amendment and Waiver by facsimile or portable document format (“pdf’) shall be effective as delivery of a manually executed counterpart of this Amendment and Waiver.

Section 11.    No Modifications; No Other Matters. Except  as  expressly provided for herein, the terms and conditions of the Credit Agreement, Depositary Agreement and the other Financing Documents shall continue unchanged and shall remain in full force and effect. Each amendment and waiver granted herein shall apply solely to the matters set forth herein and such amendment shall not be deemed or construed as an amendment of any other matters, nor shall such amendment apply to any other matters.

Section 12.    Direction to Administrative Agent and Collateral Agent.

12.1    By their signature below, each of the Lenders party hereto, constituting the Requisite Lenders, hereby directs the Administrative Agent to (a) execute this Amendment and Waiver and (b) direct the Collateral Agent to execute this Amendment and Waiver, in each case with respect to the amendments set forth in Sections 1 and 2 and the waiver set forth in Section
3.1 of this Amendment and Waiver. By its signature below, the Administrative Agent, as Controlling Agent (as defined in the Intercreditor Agreement) directs the Collateral Agent to execute this Amendment and Waiver with respect to the amendments set forth in Sections 1 and 2 and the waiver set forth in Section 3.1 of this Amendment and Waiver.

12.2    By their signature below, each of the Term Lenders, Revolving Lenders, and DSR Issuing Banks hereby directs the Administrative Agent to (a) execute this Amendment and Waiver and (b) direct the Collateral Agent to execute this Amendment and Waiver, in each case with respect to waiver set forth in Section 3.2 of this Amendment and Waiver. By its signature below, the Administrative Agent, as Controlling Agent (as defined in the Intercreditor Agreement) directs the Collateral Agent to execute this Amendment and Waiver with respect to the waiver set forth in Section 3.2 of this Amendment and Waiver.

[Remainder of the page left intentionally blank.]

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IN WITNESS WHEREOF, the Parties have caused this Amendment and Waiver to be duly executed by their officers thereunto duly authorized as of the day and year first above written.

	
		
	CHENIERE ENERGY PARTNERS,

	L.P.,

	as Borrower

	 
	 

	 
	 

	By:
	Cheniere Energy Partners GP, LLC, its

	general partner

	 

	 

	By:
	/s/ Lisa C. Cohen

	Name: Lisa C. Cohen

	Title: Vice President and Treasurer

SIGNATURE PAGE TO OMNIBUS AMENDMENT AND WAIVER 

IN WITNESS WHEREOF, the Parties have caused this Amendment and Waiver to be duly executed by their officers thereunto duly authorized as of the day and year first above written.

	
		
	CHENIERE ENERGY

	INVESTMENTS, LLC,

	as Subsidiary Guarantor

	 
	 

	 

	By:
	/s/ Lisa C. Cohen

	Name: Lisa C. Cohen

	Title: Treasurer

	 
	 

	 
	 

	CHENIERE PIPELINE GP INTERESTS, LLC,

	as Subsidiary Guarantor

	 
	 

	 
	 

	By:
	/s/ Lisa C. Cohen

	Name: Lisa C. Cohen

	Title: Treasurer

	 
	 

	 
	 

	CHENIERE CREOLE TRAIL PIPELINE, L.P.,

	as Subsidiary Guarantor

	 
	 

	 
	 

	By:
	By: CHENIERE PIPELINE GP INTERESTS, LLC,

	 
	its general partner

	 

	 

	By:
	/s/ Lisa C. Cohen

	Name: Lisa C. Cohen

	Title: Treasurer

SIGNATURE PAGE TO OMNIBUS AMENDMENT AND WAIVER 

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

	
		
	THE BANK OF TOKYO-MITSUBISHI 

	UFJ, LTD,

	as Administrative Agent

	 
	 

	 

	By:
	/s/ Lawrence Blat

	Name: Lawrence Blat

	Title: Authorized Signatory

	 
	 

	 
	 

	MUFG UNION BANK, N.A.,

	as the Collateral Agent

	 
	 

	 

	By:
	/s/ Fernando Moreyra

	Name: Fernando Moreyra

	Title: Vice President

SIGNATURE PAGE TO OMNIBUS AMENDMENT AND WAIVER 

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

	
		
	THE BANK OF TOKYO-MITSUBISHI 

	UFJ, LTD,

	as Lender

	 
	 

	 

	By:
	/s/ Billy Tracy

	Name: Billy Tracy

	Title: Managing Director

SIGNATURE PAGE TO OMNIBUS AMENDMENT AND WAIVER 

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

	
		
	THE BANK OF TOKYO-MITSUBISHI 

	UFJ, LTD,

	as DSR Issuing Bank and WC Issuing Bank

	 
	 

	 

	By:
	/s/ Billy Tracy

	Name: Billy Tracy

	Title: Managing Director

SIGNATURE PAGE TO OMNIBUS AMENDMENT AND WAIVER 

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

	
		
	SOCIÉTÉ GÉNÉRALE,

	as Lender

	 
	 

	 

	By:
	/s/ Ellen Turkel

	Name: Ellen Turkel

	Title: Director

SIGNATURE PAGE TO OMNIBUS AMENDMENT AND WAIVER 

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

	
		
	ABN AMRO CAPITAL USA LLC,

	as Lender

	 
	 

	 

	By:
	/s/ J.D. Kalverkamp

	Name: J.D. Kalverkamp

	Title: Country Executive

	 
	 

	 
	 

	 
	 

	By:
	/s/ Casey Lowary

	Name: Casey Lowary

	Title: Executive Director

SIGNATURE PAGE TO OMNIBUS AMENDMENT AND WAIVER 

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

	
		
	INDUSTRIAL AND COMMERCIAL

	BANK OF CHINA LIMITED NEW

	YORK BRANCH,

	as Lender

	 
	 

	 

	By:
	/s/ Yuqiang Xiao

	Name: Yuqiang Xiao

	Title: General Manager

SIGNATURE PAGE TO OMNIBUS AMENDMENT AND WAIVER 

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

	
		
	INDUSTRIAL AND COMMERCIAL

	BANK OF CHINA LIMITED, SEOUL

	BRANCH,

	as Lender

	 
	 

	 

	By:
	/s/ Shuxian Cui

	Name: Shuxian Cui

	Title: Deputy General Manager

SIGNATURE PAGE TO OMNIBUS AMENDMENT AND WAIVER 

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

	
		
	INTESA SANPAOLO S.P.A., NEW

	YORK, BRANCH,

	as Lender

	 
	 

	 

	By:
	/s/ Francesco DiMario

	Name: Francesco DiMario

	Title: First Vice President

	 
	 

	 
	 

	 
	 

	By:
	/s/ Nicholas A. Matacchieri

	Name: Nicholas A. Matacchieri

	Title: Vice President

SIGNATURE PAGE TO OMNIBUS AMENDMENT AND WAIVER 

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

	
		
	JPMORGAN CHASE BANK, N.A.,

	as Lender

	 
	 

	 

	By:
	/s/ Jeffrey C. Miller

	Name: Jeffrey C. Miller

	Title: Vice President

SIGNATURE PAGE TO OMNIBUS AMENDMENT AND WAIVER 

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

	
		
	MIZUHO BANK, LTD.,

	as Lender

	 
	 

	 

	By:
	/s/ Brian Caldwell

	Name: Brian Caldwell

	Title: Managing Director

SIGNATURE PAGE TO OMNIBUS AMENDMENT AND WAIVER 

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

	
		
	SUMITOMO MITSUI BANKING

	CORPORATION,

	as Lender

	 
	 

	 

	By:
	/s/ Juan Kreutz

	Name: Juan Kreutz

	Title: Managing Director

SIGNATURE PAGE TO OMNIBUS AMENDMENT AND WAIVER 

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

	
		
	MORGAN STANLEY SENIOR

	FUNDING, INC.,

	as Lender

	 
	 

	 

	By:
	/s/ Patrick Layton

	Name: Patrick Layton

	Title: Vice President

SIGNATURE PAGE TO OMNIBUS AMENDMENT AND WAIVER 

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

	
		
	BANK OF AMERICA, N.A.,

	as Lender

	 
	 

	 

	By:
	/s/ Ronald E. McKaig

	Name: Ronald E. McKaig

	Title: Managing Director

SIGNATURE PAGE TO OMNIBUS AMENDMENT AND WAIVER 

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

	
		
	CREDIT SUISSE AG, CAYMAN

	ISLANDS BRANCH,

	as Lender

	 
	 

	 

	By:
	/s/ Nupur Kumar

	Name: Nupur Kumar

	Title: Authorized Signatory

	 
	 

	 
	 

	 
	 

	By:
	/s/ Lorenz Meier

	Name: Lorenz Meier

	Title: Authorized Signatory

SIGNATURE PAGE TO OMNIBUS AMENDMENT AND WAIVER 

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

	
		
	HSBC BANK USA, NATIONAL

	ASSOCIATION,

	as Lender

	 
	 

	 

	By:
	/s/ James Kaiser

	Name: James Kaiser

	Title: Managing Director

SIGNATURE PAGE TO OMNIBUS AMENDMENT AND WAIVER 

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

	
		
	COMMONWEALTH BANK OF

	AUSTRALIA

	ACN 123 123 124,

	as Lender

	 
	 

	By its attorney under Power of Attorney

	dated 24 June 2013:

	 
	 

	 
	 

	 
	 

	By:
	 

	Signature of Attorney: /s/ Axelle Anterion

	Name of Attorney: Axelle Anterion

	Title of Attorney: Senior Associate

	 
	 

	 
	 

	 
	 

	By:
	 

	Signature of Witness: /s/ Jarred Rudman

	Name of Witness: Jarred Rudman

SIGNATURE PAGE TO OMNIBUS AMENDMENT AND WAIVER 

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

	
		
	CANADIAN IMPERIAL BANK OF

	COMMERCE, NEW YORK BRANCH,

	as Lender

	 
	 

	 

	By:
	/s/ Darrel Ho

	Name: Darrel Ho

	Title: Authorized Signatory

	 
	 

	 
	 

	 
	 

	By:
	/s/ Joshua Hogarth

	Name: Joshua Hogarth

	Title: Authorized Signatory

SIGNATURE PAGE TO OMNIBUS AMENDMENT AND WAIVER 

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

	
		
	lNG CAPITAL LLC,

	as Lender

	 
	 

	 

	By:
	/s/ Subha Pasumarti

	Name: Subha Pasumarti

	Title: Managing Director

	 
	 

	 
	 

	 
	 

	By:
	/s/ Cheryl LaBelle

	Name: Cheryl LaBelle

	Title: Managing Director

SIGNATURE PAGE TO OMNIBUS AMENDMENT AND WAIVER 

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

	
		
	FIRSTBANK PUERTO RICO D/B/A

	FIRSTBANK FLORIDA,

	as Lender

	 
	 

	 

	By:
	/s/ Jose M. Lacasa

	Name: Jose M. Lacasa

	Title: Corporate Banking, SVP

SIGNATURE PAGE TO OMNIBUS AMENDMENT AND WAIVER 

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

	
		
	MACQUARIE BANK LIMITED,

	as Lender

	 
	 

	 

	By:
	/s/ D. Prince / G. Scarpa

	Name: D. Prince / G. Scarpa

	Title: Authorized Signatories

SIGNATURE PAGE TO OMNIBUS AMENDMENT AND WAIVER 

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

	
		
	MACQUARIE CAF LLC,

	as Lender

	 
	 

	 

	By:
	/s/ D. Prince / G. Scarpa

	Name: D. Prince / G. Scarpa

	Title: Authorized Signatories

SIGNATURE PAGE TO OMNIBUS AMENDMENT AND WAIVEREX-10.1

 Exhibit 10.1 

February 21, 2017 
 Mr. Jerome Shaw

 7245 Rue de Roark 
 La Jolla, California 92037 

Dear Mr. Shaw: 
 We are pleased to amend and restate your
employment agreement with Volt Information Sciences, Inc. (the “Company”) on the terms and conditions set forth below (this “Agreement”). This Agreement is made between Jerome Shaw (hereinafter referred to as “Employee”
or “you”) and the Company and shall take effect on February 27, 2017 (the “Effective Date”). This Agreement terminates and supersedes that certain Employment Agreement by and between you and the Company dated as of
May 1, 1987, and amended as of January 3, 1989, in its entirety. For purposes hereof, “Company Group” means the Company and its subsidiaries and affiliates. 

 

	1.	Position. 

 You will hold the honorary title of Founder and Executive Vice President
Emeritus of the Company, and will cease to be an executive officer of the Company for SEC purposes or otherwise. 
  

	2.	Duties and Responsibilities 

 You will devote a reasonable amount of time to the
position, as long as you are willing. You agree that you will comply with all of the Company’s policies, procedures and rules, as now existing or as subsequently adopted, modified or supplemented by the Company from time to time. You further
agree that you will comply with all applicable laws, rules and regulations governing your conduct. 
  

	3.	Compensation 

 Your salary will be fixed at rate of $200,000 per year (your
“Salary”). In addition, you shall be paid a pre-retirement benefit in the aggregate amount of $1,500,000, in consideration of cancellation of your current contractual death benefit (together with your Salary, your
“Compensation”). Your Compensation shall be paid over the Term of this Agreement and according to the Company’s normal payroll practices, less all required withholdings and deductions. 

 

	4.	Benefits 

 You are eligible to continue to participate in the Company’s employee
benefit plans and programs in which you or your dependents are currently enrolled, subject to the eligibility requirements, terms and conditions of such plans and programs. Such plans and programs are subject to change or termination by the Company
in the Company’s sole discretion; provided however, the Company agrees that no such change or termination shall result in medical benefit plan options less than those available to you and your dependent at the time of this Agreement. You will
be provided with an office, the support of an executive assistant, and use of a car and driver. 
  

	4.1	No Paid Vacation and Sick Leave 

 You shall not accrue paid time off for vacation time or
sick leave. 
  

	4.2	Business Expenses 

 If necessary and pre-approved by the CEO in writing, the Company will
reimburse you for reasonable and necessary business expenses incurred in connection with the Company’s business, which may include travel expenses, food and lodging while traveling for business purposes, subject to such expense reimbursement
policies as the Company may from time to time establish for its employees, provided that all such reimbursements shall comply with Section 409A of the Code. 

	5.	Employment Term; Compensation on Death or at End of Term 

 Your employment with the
Company and the term of this Agreement shall continue until the two (2) year anniversary of the Effective Date (the “Term”), at which time your employment will automatically terminate (the “Termination Date”). 

 

	5.1	Upon Death 

 In the event of your death during the term of this Agreement, and in
consideration of the General Release (as defined below), the Company agrees to pay the remainder of your Compensation to your trust, The Jerome and Joyce Shaw Family Trust, dated August 6, 1969, as amended and restated dated August 5, 2016
(or such other trust, person or estate as you may designate in writing to the Company) in accordance with Paragraph 3 and conditioned upon (i) the execution and delivery of the Release of Claims attached hereto as Exhibit A (the “General
Release”) and (ii) such General Release becoming effective and irrevocable under all applicable law and its terms following termination of employment due to death. All benefits set forth in Paragraph 4 hereof shall thereafter cease in
accordance with the terms of such plans. Your dependent will be eligible to elect COBRA continuation coverage for up to thirty-six (36) months, subject to her payment of the applicable COBRA premiums. No further rights or payments shall be
conferred upon your estate other than as set forth in this Paragraph 5.1. 
  

	5.2	Payment of Accrued Compensation at end of Term 

 Following the Termination Date and in
consideration of the General Release, you will be paid all accrued but unpaid Compensation through the Termination Date, conditioned upon (i) the execution and delivery of the General Release and (ii) such General Release becoming
effective and irrevocable under all applicable law and its terms. For the avoidance of doubt and following the Termination Date, you will be eligible to elect COBRA continuation coverage for yourself and your dependents for a period of up to
eighteen (18) months subject to your payment of the applicable COBRA premiums. 
  

	6.	Representation, Warranties and Acknowledgements 

 You represent that (i) you have
consulted with independent counsel of your own choosing concerning this Agreement and have been advised to do so by the Company, (ii) you have read and understood this Agreement, are fully aware of its legal effect, and have entered into it
freely based on your own sound judgment and (iii) you have legal capacity to execute and deliver this Agreement. This Agreement shall not be construed against any party by reason of the drafting or preparation hereof by one party and each party
represents and warrants the Agreement is a valid and legal agreement binding on such party and enforceable in accordance with its terms. 
  

	7.	 Confidential Information. You agree that for the period of your employment with the Company and
thereafter, you will not disclose or use, or enable any third party to disclose or use, any Confidential Information (as defined below) of the Company Group. You may not take or replicate Confidential Information for your personal benefit or for the
benefit of a third party unrelated to the Company, including, but not limited to, saving a copy of Confidential Information on a non-Company computer, data storage device, zip drive, or otherwise, without the Company’s prior written approval.
“Confidential Information” means all trade secrets, data and other information relating to the operations of the Company Group, whether in hard copy, electronic format or communicated orally, that you acquire through your employment with
the Company Group, or that the Company Group treats as confidential through its policies, procedures and/or practices. Examples of Confidential Information include, but are not limited to: information concerning the operations, methods, technology,
software, developments, inventions, accounting and legal and regulatory affairs of the Company Group; information concerning the sales, marketing, servicing, bidding, product development and investment activities and strategies of any member of the
Company Group; information concerning the identity, addresses, telephone numbers, email addresses, needs, business plans and creditworthiness of the past, present and prospective customers and clients of the Company Group; information concerning the
terms on which the Company Group provides products and services to such past, present and prospective customers and clients; information concerning the pricing strategies for products and services of the Company Group; information concerning the
finances, financing methods, credit and acquisition or disposition plans and strategies of any member of the Company Group; to the extent permitted by law, information concerning the employment and

 
compensation of the employees of the Company Group; and disclosure of Confidential Information to another employee of the Company Group other than as required for you and such other Company Group
employee to perform your duties for the Company. Confidential Information does not include any document, information, technical data or know-how which (i) before or after it has been disclosed to you, is part of the public knowledge or
literature, but not as a result of any action or inaction by you or (ii) is approved for release by written authorization of Company. This provision does not restrict you from providing information as required by a court or governmental agency
with appropriate jurisdiction; however, in the event you are so required, you agree that you will give the Company immediate written notice of such disclosure requirement in order to allow the Company the opportunity to respond to such request. 

 

	8.	Enforcement 

 Employee and the Company each acknowledges that either party shall be
entitled to seek applicable injunctive relief as appropriate under the law. It is acknowledged and agreed that in the event that Employee fails or refuses to perform Employee’s obligations under this Agreement, irreparable damage will
result to the Company Group, its business and properties and/or the clients of the Company Group, for which damage remedies available at law will be inadequate (none of which remedies or damages are hereby waived) and may be in addition to any
injunctive relief. 
  

	9.	Return of Company Property 

 You agree that on the Termination Date, or at such earlier
time as the Company may request, you will immediately return to the Company all of the Company’s property in your possession or under your control, including, but not limited to, all data and information relating to the business of the Company,
and that you will not retain any copies thereof. 
  

	10.	Notices 

 Any notice required in connection with this Agreement will be deemed adequately
given only if in writing and personally delivered, or sent by first-class, registered or certified mail, or overnight courier. Notice shall be deemed to have been given on the third day after deposit into the mail. Notice shall be deemed to have
been given on the second day after deposit with an overnight courier. Notices to the Company shall be addressed to 2401 North Glassell Street, Orange, CA 92865, Attn: General Counsel. Notices to you shall be addressed to your last known address
on file with the Company. 
  

	11.	Entire Agreement and Choice of Law 

 This Agreement constitutes the entire understanding
between you and the Company and supersedes all prior agreements concerning the terms and conditions of your employment. Unless otherwise expressly stated herein, the terms of this Agreement may not be modified, altered, changed or amended except by
an instrument in writing signed by a duly authorized representative of the Company and you. No waiver by the Company or you of any breach by the other party of any condition or provision of this Agreement shall be deemed a waiver with respect to any
similar or dissimilar condition or provision at any prior or subsequent time. If any provision of this Agreement is held to be invalid or unenforceable, then the remaining provisions of this Agreement shall be deemed severable and remain in full
force and effect. The terms of this Agreement shall be governed and construed in accordance with the laws of the State of California. 
  

	12.	Agreement to Arbitrate Disputes 

 Any dispute, controversy or claim arising out of,
involving, affecting or related to this Agreement, or breach of this Agreement, or arising out of, involving, affecting or related in any way to your employment, shall be resolved by final and binding arbitration, pursuant to the Federal Arbitration
Act, in accordance with the employment rules of the American Arbitration Association (“AAA”), which can be found at www.adr.org or a copy of the AAA rules can be provided to you upon your request to the Company. The arbitration
shall be conducted before a single neutral and impartial arbitrator chosen by mutual agreement between us in the County of Orange, California. The Arbitrator shall award reasonable legal expenses and disbursements to the prevailing party in any
arbitration. Judgment upon the arbitrator’s award may be entered in any court having jurisdiction. Finally, nothing in this Paragraph shall prevent the parties from obtaining injunctive or other equitable relief in court or in arbitration in
connection with breach of this Agreement. 

	13.	Successors and Assigns 

 You may not assign this Agreement. For the avoidance of doubt,
payment in accordance with Section 5.1 above shall not be deemed an assignment. The Company may assign this Agreement to an affiliate or a person or entity which is a successor in interest to substantially all of the stock or assets of the
Company. 
  

	14.	Counterparts and Execution 

 This Agreement may be executed and delivered (a) in one
or more counterparts, each of which shall be deemed to be an original, but all of which together shall constitute one and the same instrument, and/or (b) by facsimile or PDF in which case the instruments so executed and delivered shall be
binding and effective for all purposes. 
 [Continued on next page] 

 Kindly indicate your acceptance of the terms of this Agreement by signing and returning it to the undersigned.

  

			
	Volt Information Sciences, Inc.
		
	By:	 	 /s/ Michael D. Dean

		 	 Michael D. Dean
 President and Chief
Executive Officer

 I have read, understand, accept and agree to the above terms and conditions: 

 

					
	 /s/ Jerome Shaw
	  	 February 21, 2017
	  	
	Jerome Shaw	  	Date	  	
			
	CONSENT OF SPOUSE:	  		  	
			
	 /s/ Joyce Cutler Shaw
	  	 February 21, 2017
	  	
	Joyce Cutler Shaw	  	Date	  	

 EXHIBIT A 

RELEASE OF CLAIMS 
  

	1.	Terms of Release. This Release of Claims (this “General Release”) is being executed by
                                (the “Estate”[or
“Employee”, as the case may be with appropriate replacements of “Employee” for “estate” throughout this form]) for the benefit of Volt Information Sciences, Inc. (the “Company”) and the other
Released Parties (as defined below), pursuant to the terms of the Agreement to which this General Release is attached, which provides the Employee’s estate with certain significant benefits, subject to the Estate’s executing this General
Release. 

  

	2.	General Release. In exchange for and in consideration of the Compensation described in the Agreement, the Estate, on behalf of himself, its agents, representatives, administrators, receivers, trustees, estates,
spouse, heirs, devisees, assignees, transferees, legal representatives and attorneys, past or present (collectively the “Releasors”), hereby irrevocably and unconditionally releases, discharges, and acquits all of the Released
Parties from any and all claims, promises, demands, liabilities, contracts, debts, losses, damages, attorneys’ fees and causes of action of every kind and nature, known and unknown, which the Estate may have against them at any time up to the
date the Estate signs this General Release, including but not limited to causes of action, claims or rights arising out of, or which might be considered to arise out of or to be connected in any way with: (a) the Employee’s employment with
the Company or any of its subsidiaries or the termination thereof; (b) any treatment of the Employee or Estate by any of the Released Parties, which includes, without limitation, any treatment or decisions with respect to hiring, placement,
promotion, work hours, discipline, transfer, termination, compensation, performance review or training; (c) any damages or injury that the Employee or Estate may have suffered, including without limitation, emotional or physical injury, or
compensatory damages (but excluding any claims for workers’ compensation benefits); (d) employment discrimination, which shall include, without limitation, any individual or class claims of discrimination on the basis of age, disability,
sex, race, religion, national origin, citizenship status, marital status, sexual orientation, or any other basis whatsoever; and (e) all such other claims that the Employee or Estate could assert against any, some, or all of the Released
Parties (collectively, with the release of claims set forth in Section 3, the “Released Claims”). 

  

	3.	Broad Construction. This General Release shall be construed as broadly as possible and shall also extend to release each and all of the Released Parties, without limitation, from any and all claims that the
Estate or any of the Releasors has alleged or could have alleged, whether known or unknown, based on acts, omissions, transactions or occurrences which occurred up to the date the Estate signs this General Release, including any violation(s) of any
of the following, in each case, as amended: the National Labor Relations Act; Title VII of the Civil Rights Act of 1964; the Age Discrimination in Employment Act (including the Older Workers Benefit Protection Act of 1990); the Civil Rights Act of
1991; Sections 1981-1988 of Title 42 of the United States Code; the Equal Pay Act; the Employee Retirement Income Security Act of 1974; the Immigration Reform and Control Act; the Americans with Disabilities Act of 1990; the Fair Labor Standards
Act; the Occupational Safety and Health Act; the Sarbanes-Oxley Act of 2002; any other federal, state, local or foreign law, ordinance and/or regulation; any public policy, whistleblower, contract, tort, or common law claim; and any demand for costs
or litigation expenses, including but not limited to attorneys’ fees. 

  

	4.	Released Parties. The term “Released Parties” or “Released Party” as used herein shall mean and include: (a) the Company; (b) the Company’s former and current
parents, subsidiaries and affiliates; (c) each predecessor, successor and affiliate of any entity listed in clauses (a) and (b); and (d) each former and current officer, director, agent, employee, employee benefit plan, employee
benefit plan administrator, and of any of the persons listed in clauses (a) through (c). 

  

	5.	 Rights Reserved. Nothing in this General Release shall prohibit or restrict the Estate from responding to
any inquiry, or otherwise communicating with, any federal, state or local administrative or regulatory 

	 	
agency or authority, including, but not limited to, the Securities and Exchange Commission (SEC), the Equal Employment Opportunity Commission (EEOC) or the National Labor Relations Board (NLRB)
about the Agreement or this General Release or its underlying facts and circumstances or filing a charge with or participating in an investigation conducted by any governmental agency or authority; however, the Agreement and this General Release
does prevent the Estate, to the maximum extent permitted by law, from obtaining any monetary or other personal relief for any of the claims it has released in this General Release. This General Release shall not affect the Estate’s or
Employee’s rights under the Older Workers Benefit Protection Act of 1990 (“OWBPA”) to have a judicial determination of the validity of this General Release and does not purport to limit any right the Employee or his Estate may
have to file a charge under the ADEA or other civil rights statute or to participate in an investigation or proceeding conducted by the EEOC or other investigative agency. This General Release does, however, waive and release any right to recover
damages under the ADEA or other civil rights statute. 

  

	6.	OWBPA and ADEA Release. Pursuant to the OWBPA, the Estate understands and acknowledges that by executing this General Release and releasing all claims against each and all of the Released Parties, it has waived
any and all rights or claims that it has or could have against any Released Party under the Age Discrimination in Employment Act (“ADEA”), which includes, but is not limited to, any claim that any Released Party discriminated
against the Employee on account of his age. 

  

	7.	Representations by the Estate. The Estate confirms that no claim, charge or complaint against any of the Released Parties has been brought by him before any federal, state, or local court or administrative
agency. The Estate represents and warrants that it has no knowledge of any (i) illegal actions or illegal omissions by the Company or any of its affiliates; or (ii) improper actions or improper omissions by the Company or any of its
affiliates that could reasonably be expected to be materially detrimental to the operations or financial condition of the Company, in each case other than such actions or omissions that: (x) have been previously disclosed to the Company’s
Chief Executive Officer or board of directors; or (y) have been previously disclosed by the Estate in the Company’s response letters to its outside auditors. This expressly includes, but is not limited to, such conduct that potentially
could give rise to claims under the Sarbanes-Oxley Act of 2002 (Public Law 107-204). 

  

	8.	No Admission of Liability. The Estate and the Released Parties agree that neither this General Release nor the furnishing of the consideration for this General Release as set forth in the Agreement shall be
deemed or construed at any time for any purpose as an admission by the Estate or by the Released Parties of any liability or unlawful conduct of any kind. 

  

	9.	Governing Law. This General Release shall be governed by and construed in accordance with the laws of the State of California without regard to any conflict of law provisions that would require application of the
laws of a different jurisdiction. If any provision of this General Release is declared legally or factually invalid or unenforceable by any arbitrator or court of competent jurisdiction and cannot be modified to be enforceable to any extent or in
any application that is acceptable to the Company, then, in the discretion of the Company, such provision immediately may be deemed become null and void, leaving the remainder of this General Release in full force and effect. 

 

	10.	Prior Agreements. This General Release, together with the Agreement to which it is attached (and including the surviving obligations of the Employment Agreement as set forth therein), sets forth the entire
agreement between the Estate and the Company and supersedes any and all prior agreements or understandings, whether written or oral, between the parties, except as otherwise specified in this General Release. The Estate acknowledges that it has not
relied on any representations, promises, or agreements of any kind made to him in connection with its decision to sign this General Release, except for those set forth in the Agreement and this General Release. 

 

	11.	Amendment. This General Release may not be amended except by a written agreement signed by both parties, which specifically refers to this General Release. 

	12.	Counterparts; Execution Signatures. This General Release may be executed in counterparts, each of which when so executed and delivered shall be deemed to be an original and both of which when taken together shall
constitute one and the same agreement. 

  

	13.	Consideration Period. By signing the Agreement and this General Release, the Estate is confirming its acceptance of the terms and conditions set forth herein and is acknowledging the following: 

 

	 	(a)	This General Release represents a complete waiver and release of all rights and claims that the Estate has against the Released Parties. Accordingly, the Estate understands its obligation to review this General Release
carefully before signing. 

  

	 	(b)	The Estate understands that it can take up to twenty-one (21) days from its receipt of the Agreement and this General Release (the “Consideration Period”) to consider its meaning and effect and to
determine whether or not it wishes to enter into it. In addition, in order to receive the Compensation, the Estate will be required to sign the Agreement and this General Release. Before signing, the Estate is advised to consult with an attorney. If
the Estate chooses to sign the Agreement and this General Release before the end of the Consideration Period, it is doing so voluntarily. 

  

	 	(c)	In addition, the Estate may revoke its signature within seven (7) days after signing this Agreement. Any revocation of this Agreement is requested to be in writing. 

 

	 	(d)	The Estate will forward the Agreement and this General Release once signed, as well as any notice of its desire to revoke its signature, to: 

Michael D. Dean, Chief Executive Officer 

Volt Information Sciences, Inc. 

2401 North Glassell Street 

Orange CA 92865 
 MDean@volt.com

 IN WITNESS WHEREOF,
                        has executed this General Release as of the date set forth below. 

 

			
	  

	Name:	 	
	Title:	 	
		
	Date:

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