Document:

Exhibit 10.4

 

 

REGISTRATION RIGHTS AGREEMENT 

 

REGISTRATION RIGHTS AGREEMENT (this “Agreement”),
dated as of June 30, 2022, by and among Acutus Medical, Inc., a Delaware corporation (the “Company”), Deerfield Partners,
L.P. (“Deerfield Partners”) and Deerfield Private Design Fund III, L.P. (“DPD III” and, together with Deerfield
Partners, the “Lenders” and each a “Lender”).

 

WHEREAS: 

 

A. In connection with the Amended and Restated
Credit Agreement, dated as of the date hereof, by and among the Company, the lenders from time to time party thereto, including the Lenders,
and Wilmington Trust, National Association, as the Administrative Agent (as the same may be amended, supplemented, restated or otherwise
modified from time to time in accordance with its terms, the “Credit Agreement”), the Company is on the date hereof issuing
warrants to purchase Common Stock (as defined below) to each Lender (such warrants, together with any warrants issued in exchange or substitution
therefor or replacement thereof, as the same may be amended, supplemented, restated or otherwise modified and in effect from time to time,
the “2022 Warrants”).

 

B. In addition to the 2022 Warrants, Deerfield
Partners and DPD III hold (i) an aggregate of 2,648,386 shares of Common Stock (as defined in the Credit Agreement), (ii) 2,764.8410 shares
of Series A Common Stock Equivalent Convertible Preferred Stock (the “Pre-Financing Preferred Shares”), which are convertible
into an aggregate of 2,764,841 shares of Common Stock, and (iii) warrants to purchase 434,114 shares of Common Stock (the “Pre-Financing
Warrants”).

 

C. To induce the Lenders to execute and deliver
the Credit Agreement, the Company has agreed to provide certain registration rights under the Securities Act of 1933, as amended, and
the rules and regulations thereunder, or any similar successor statute (collectively, the “Securities Act”), and applicable
state securities laws.

 

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

 

1.
DEFINITIONS.

 

a. As used in this Agreement,
the following terms shall have the following meanings (all capitalized terms used and not otherwise defined herein having the respective
meanings set forth in the Credit Agreement):

 

(i) “Additional Filing
Deadline” means, with respect to any Registration Statements that may be required pursuant to Section 2(a)(ii), (A) the tenth (10th)
Business Day following the first date on which such Registrable Securities may then be included in a Registration Statement if such Registration
Statement is required to be filed because the SEC shall have notified the Company in writing that certain Registrable Securities were
not eligible for inclusion in a previously filed Registration Statement, or (B) if such additional Registration Statement is required
for a reason other than as described in (A) above, the thirtieth (30th) day following the date on which the Company first knows
that such additional Registration Statement is required.

 

    1 

     

    

(ii) “Additional Registration
Deadline” means, with respect to any additional Registration Statement(s) required to be filed pursuant to Section 2(a)(ii), the
forty-fifth (45th) day following the applicable Additional Filing Deadline.

 

(iii) “Business Day”
means any day, except a Saturday, Sunday or legal holiday, on which banking institutions in the city of New York, New York are authorized
or obligated by law or executive order to close; provided, however, for clarification, bank institutions shall not be deemed to be authorized
or obligated by law or executive order to remain closed due to “stay at home,” “shelter-in-place,” “non-essential
employee” or any other similar orders or restrictions or the closure of any physical branch locations at the direction of any governmental
authority so long as the electronic funds transfer systems (including for wire transfers) of commercial banks in the City of New York
generally are open for use by customers on such day.

 

(iv) “Convertible Securities”
means, collectively, any Warrants, preferred stock (including the Pre-Financing Preferred Shares), rights, evidence of indebtedness and
other securities that, by the terms thereof, are directly or indirectly convertible into or exchangeable or exercisable for Common Stock,
either immediately or upon the arrival of a specified date or the happening of a specified event.

 

(v) “Exchange Act”
means the Securities Exchange Act of 1934, as amended, together with the rules and regulations promulgated thereunder, and any successor
statute.

 

(vi) “FINRA” means
the Financial Industry Regulatory Authority, Inc. (or successor thereto).

 

(vii) “Filing Deadline”
for the Registration Statement required pursuant to Section 2(a)(i), shall mean August 14, 2022, and for each Registration Statement required
pursuant to Section 2(a)(ii), shall mean the Additional Filing Deadline.

 

(viii) “Investor”
means any Lender and any transferee or assignee who agrees in writing to become bound by the provisions of this Agreement in accordance
with Section 10 hereof.

 

(ix) “Person” means
and includes any natural person, partnership, joint venture, corporation, trust, limited liability company, limited company, joint stock
company, unincorporated organization, government entity or any political subdivision or agency thereof, or any other entity.

 

(x) “Prospectus”
means (A) any prospectus (preliminary or final) included in any Registration Statement, as may be amended or supplemented by any prospectus
supplement with respect to the terms of the offering of any portion of the Registrable Securities covered by such Registration Statement
and by all other amendments and supplements to such prospectus, including post-effective amendments, and all material incorporated by
reference in such prospectus, and (B) any “free writing prospectus” as defined in Rule 405 under the Securities Act relating
to any offering of Registrable Securities pursuant to a Registration Statement.

 

(xi) “Register,”
“Registered,” and “Registration” refer to a registration effected by preparing and filing a Registration Statement
or Statements in compliance with the Securities Act and pursuant to Rule 415, and such Registration Statement becoming effective under
the Securities Act (whether automatic or declared effective by the United States Securities and Exchange Commission (the “SEC”)).

 

    2 

     

    

(xii) “Registrable Securities”
for a given Registration, means (a) any shares of Common Stock held as of the date of this Agreement by the Investors; (b) any shares
of Common Stock issuable upon exercise, conversion or exchange, or otherwise in respect, of any Convertible Securities held as of the
date of this Agreement by the Investors (without giving effect to any limitations on exercise, conversion or exchange thereof set forth
in the Convertible Securities and, in the case of Warrants, assuming the exercise thereof for cash), (c) any shares of capital stock issued
or issuable as a dividend on or in exchange for or otherwise with respect to any securities referred to in clauses (a) and (b), (d) any
additional shares of Common Stock issuable in connection with any anti-dilution provisions in the Convertible Securities, and (e) any
securities issued or issuable upon any stock split, dividend or other distribution, recapitalization or similar event with respect to
any of the foregoing; provided that, in the case of (c) through (e), such securities are held by the Investors; and provided
further, “Registrable Securities” shall not include any securities that (x) have been sold pursuant to a Registration
Statement or pursuant to Rule 144, (y) are eligible to be immediately sold to the public without registration or restriction (including
without limitation as to volume by each holder thereof), and without compliance with any “current public information” requirement,
pursuant to Rule 144 under the Securities Act assuming, in the case of any Warrants, the exercise thereof for cash.

 

(xiii) “Registration Deadline”
shall mean, for purposes of any Registration Statement required pursuant to Section 2(a)(i), the date that is seventy-five (75) days after
the applicable Filing Deadline, and with respect to any Registration Statement required pursuant to Section 2(a)(ii), the Additional Registration
Deadline. Any Registration Deadline (or any extension thereof) shall be automatically extended if the Company has, and continues to use,
its commercially reasonable efforts to respond and resolve any comments to the Registration Statement received from the SEC.

 

(xiv) “Registration Failure”
means that (A) the Company fails to file with the SEC on or before the Filing Deadline any Registration Statement required to be filed
pursuant to Section 2 hereof, (B) the Company fails to file any additional Registration Statement required to be filed pursuant to Section
2(a)(ii) hereof on or before the Additional Filing Deadline, or (C) the Registration Statement required to be filed hereunder, after its
initial effectiveness and during the applicable Registration Period, lapses in effect or, other than on a day during an Allowable Grace
Period, sales of all of the Registrable Securities cannot otherwise be made thereunder by reason of the Company’s failure to amend
or supplement the Prospectus included therein in accordance herewith or the Company’s failure to file with the SEC an additional
Registration Statement or amended Registration Statement required pursuant to Section 2(a)(ii) or 3(b) hereof, as applicable.

 

(xv) “Registration Statement(s)”
means any registration statement(s) of the Company filed under the Securities Act that covers the resale of any of the Registrable Securities
pursuant to the provisions of this Agreement, all amendments and supplements to such Registration Statement, including post-effective
amendments, and all exhibits to, and all material incorporated by reference in, such Registration Statement.

 

    3 

     

    

(xvi) “Rule 415”
means Rule 415 under the Securities Act or any successor rule providing for the offering of securities on a continuous basis.

 

(xvii) “Series A Common
Equivalent Preferred Stock” means the Series A Common Stock Equivalent Convertible Preferred Stock of the Company.

 

(xviii) “Warrants”
means any warrants, options or similar securities, including the Pre-Financing Warrants and the 2022 Warrants.

 

2.
REGISTRATION.

 

a. MANDATORY REGISTRATION.
(i) Following the date of this Agreement, the Company shall prepare, and, on or prior to the applicable Filing Deadline, file with the
SEC a Registration Statement (the “Mandatory Registration Statement”) on Form S-3 (or, if Form S-3 is not then available,
on such form of Registration Statement as is then available to effect a Registration of the Registrable Securities, subject to the consent
of the Investors, which consent shall not be unreasonably withheld), covering the resale of all of the Registrable Securities, which Registration
Statement, to the extent allowable under the Securities Act and the rules and regulations promulgated thereunder (including Rule 416),
shall state that such Registration Statement also covers such indeterminate number of additional shares of Common Stock as may become
issuable upon exercise or conversion of or otherwise pursuant to the Convertible Securities to prevent dilution resulting from stock splits,
stock dividends, stock issuances or similar transactions. The number of shares of Common Stock initially included in such Registration
Statement shall be no less than 9,643,532, subject to adjustment for any Stock Event (as defined in the 2022 Warrants) occurring prior
to the effective date of such Registration Statement.

 

(ii) If for any reason, despite
the Company’s use of its commercially reasonable efforts to include all of the Registrable Securities requested or required to be
included in any Registration Statement filed pursuant to Section 2(a)(i) (and subject to Section 3(q) below), the SEC does not permit
all such Registrable Securities to be included in such Registration Statement, or for any other reason any such Registrable Securities
are not then included in a Registration Statement, then the Company shall prepare, and, as soon as practicable after notice from the SEC
of such exclusion but in no event later than the Additional Filing Deadline, file with the SEC an additional Registration Statement on
Form S-3 (or, if Form S-3 is not then available, on such form of Registration Statement as is then available to effect a Registration
of the Registrable Securities, subject to the consent of the Investors, which consent shall not be unreasonably withheld) covering the
resale of all Registrable Securities requested or required to be included in such Registration Statement filed pursuant to Section 2(a)(i)
and not already covered by an existing and effective Registration Statement for an offering to be made on a continuous basis pursuant
to Rule 415.

 

(iii) Subject to any SEC comments,
any Registration Statement pursuant to this Section 2(a) shall include a “plan of distribution” approved by the holders of
a majority-in-interest of the Registrable Securities to be included in such Registration Statement. No Investor shall be named as an “underwriter”
in the Registration Statement without the Investor’s prior written consent; provided that, notwithstanding any other provision
in this Agreement, if despite the Company’s compliance with Section ‎3(p),
the SEC or the Securities Act requires such Investor(s) to be named as an “underwriter” in the Registration Statement and
such Investor(s) withhold written consent to be so

 

    4 

     

    

named, the Company’s failure
to fulfill its obligations under this Section ‎2(a)
as a result thereof shall not constitute a violation of this Agreement. Each Registration Statement (and each amendment or supplement
thereto, and each request for acceleration of effectiveness thereof) shall be provided to, and shall be subject to the approval, which
shall not be unreasonably withheld or delayed, of the Investors and Legal Counsel (as defined below) prior to its filing or other submission.

 

b. PIGGY-BACK REGISTRATIONS.
If at any time prior to the earlier of (i) five (5) years after the date of this Agreement and (ii) the expiration of the Registration
Period (as defined below) the Company shall determine (A) to file with the SEC a registration statement under the Securities Act relating
(in whole or in part) to an offering of shares of Common Stock for its own account or for the account of any other holder of its equity
securities (other than securities being registered on Form S-4 or Form S-8 or their then equivalents relating to equity securities to
be issued solely in connection with any acquisition of any entity or business or equity securities issuable in connection with stock option
or other employee benefit plans), and/or (B) otherwise to effect an underwritten offering of any securities of the Company of a type included
in a then effective Registration Statement such that the registration of such securities would include substantially the same information
as would be required to be included in a registration statement covering the sale of Registerable Securities (other than “at the
market” or “registered direct” offerings on behalf of the Company), the Company shall send to each Investor written
notice of such determination at least ten (10) days prior to the anticipated filing date of the registration statement and, if within
five (5) days after the receipt of such notice, the Investor shall so request in writing, the Company shall include in such Registration
Statement and/or include in such underwritten offering, as applicable, all or any part of such Investor’s Registrable Securities
that the Investor requests to be registered and/or included in the underwritten offering, as applicable, except that if, in connection
with any underwritten offering for the account of the Company, the managing underwriter(s) thereof shall impose a limitation on the number
of Registrable Securities which may be included in such offering because, in such underwriter(s)’ sole judgment and discretion,
marketing or other factors dictate such limitation is necessary to facilitate a successful offering, then the Company shall be obligated
to include in such underwritten offering only such limited portion of the Registrable Securities with respect to which the Investor has
requested inclusion hereunder as the underwriter(s) shall permit in their sole judgment and discretion;

 

provided, however, that the Company
shall not exclude any Registrable Securities unless the Company has first excluded all outstanding securities to be sold for the accounts
of any holders of the Company’s equity securities which are not entitled by contract to inclusion of such securities in an underwritten
offering or are not entitled to pro rata inclusion with the Registrable Securities; and

 

provided, further, however, that,
after giving effect to the immediately preceding proviso, any exclusion of Registrable Securities shall be made pro rata with holders
of other securities having the contractual right to include such securities in such underwritten offering (except to the extent that the
inclusion of such securities would reduce the amount of the Registrable Securities (as defined in the IRA) of the Holders (as defined
in the IRA) that are included in such Registration Statement). No right to registration of Registrable Securities under this Section 2(b)
shall be construed to limit any Registration required under Section 2(a) hereof. If an Investor’s Registrable Securities are included
in an underwritten offering pursuant to this Section 2(b), then such Investor

 

    5 

     

    

shall, unless otherwise agreed by the Company,
offer and sell such Registrable Securities in such underwritten offering using the same underwriter or underwriters and, subject to the
provisions of this Agreement, on the same terms and conditions as other shares of Common Stock included in such underwritten offering.
Notwithstanding the foregoing, if, prior to the effectiveness of the Registration Statement described in Section 2(b) above, the Company
determines for any reason not to proceed with the offering, the Company shall give notice to the Investors and shall be relieved of its
obligation to Register any Registrable Securities in connection with such Registration Statement (but, for the avoidance of doubt, the
Company shall not be relieved of its obligations pursuant to Section 6).

 

c. NOTICES. Each Investor
acknowledges and agrees that, in the event the Company would be required by the terms of this Section 2 to provide notice to such Investor
of the filing of any Registration Statement (including for purposes of an underwritten offering pursuant to Section 2(b) hereof) in which
any Registrable Securities of any Investor are eligible to be included, the Company shall provide such notice only to counsel to such
Investor (which shall be Katten Muchin Rosenman LLP (Attn: Mark D. Wood and Jonathan D. Weiner) or such other counsel as shall have been
designated by such Investor), unless such Investor has given prior written instructions to the contrary to the Company.

 

3.
OBLIGATIONS OF THE COMPANY. In connection with any Registration of the Registrable Securities
hereunder, the Company shall have the following obligations: 

 

a. The Company shall prepare
promptly, and file with the SEC as soon as practicable after such registration obligation arises hereunder (but in no event later than
the applicable Filing Deadline), such Registration Statements with respect to the Registrable Securities as provided in Section 2(a),
and thereafter use its commercially reasonable efforts to cause each such Registration Statement relating to Registrable Securities to
become effective as soon as possible after such filing, but in any event shall use its commercially reasonable efforts to cause each such
Registration Statement relating to Registrable Securities to become effective no later than the applicable Registration Deadline, and
shall use its commercially reasonable efforts to keep the Registration Statement current and effective pursuant to Rule 415 at all times
after its effective date until such date as is the earlier of (i) the date on which all of the Registrable Securities included in such
Registration Statement have been sold pursuant to such Registration Statement or pursuant to Rule 144 and (ii) the date on which all of
the Registrable Securities included in such Registration Statement (in the opinion of counsel to the Investors) may be immediately sold
to the public without registration or restriction (including without limitation as to volume by each holder thereof), and without compliance
with any “current public information” requirement, pursuant to Rule 144 under the Securities Act, assuming, in the case of
Warrants, the exercise thereof for cash (the “Registration Period”), or (iii) the date on which the securities no longer constitute
Registrable Securities, which Registration Statement (including any amendments or supplements thereto and Prospectuses contained therein
or related thereto), except for information provided in writing by an Investor pursuant to Section 4(a), shall not contain any untrue
statement of a material fact or omit to state a material fact required to be stated therein, or necessary to make the statements therein
not misleading. In the event that Form S-3 is not available for the registration of the resale of any Registrable Securities hereunder
(but, for the avoidance of doubt, without in any way affecting the Company’s obligation to Register the resale of the Registrable
Securities on such other form as is available, as provided in Section 2(a)), (i) the Company shall undertake to file, within thirty (30)

 

    6 

     

    

days of such time as such form
is available for such Registration, a post-effective amendment to any Registration Statement covering the Registrable Securities then
in effect, or otherwise file a Registration Statement on Form S-3, registering such Registrable Securities on Form S-3; provided that
the Company shall use its commercially reasonable efforts to maintain the effectiveness of any Registration Statement then in effect covering
the Registrable Securities until such time as a Registration Statement (or post-effective amendment) on Form S-3 covering such Registrable
Securities has been declared effective by the SEC, and (ii) the Company shall provide that any Registration Statement on Form S-1 filed
hereunder shall incorporate documents by reference (including by way of forward incorporation by reference) to the maximum extent possible.

 

b. The Company shall prepare
and file with the SEC such amendments (including post-effective amendments) and supplements to each Registration Statement and the Prospectus
used in connection with each Registration Statement as may be necessary to keep each Registration Statement (or, as applicable, another
Registration Statement covering the Registrable Securities) current and effective at all times during the Registration Period, and, during
the Registration Period, shall comply with the provisions of the Securities Act with respect to the disposition of all Registrable Securities
of the Company covered by each Registration Statement until such time as all of such Registrable Securities have been disposed of in accordance
with the intended methods of disposition by the seller or sellers thereof as set forth in such Registration Statement. In the event that
on any Trading Day (as defined below) (the “Registration Trigger Date”) the number of shares available under the Registration
Statements filed pursuant to this Agreement is insufficient to cover all of the Registrable Securities issued or issuable upon exercise
or conversion of the Convertible Securities, without giving effect to any limitations on the Investors’ ability to exercise or convert
the Convertible Securities (and, in the case of Warrants, assuming the exercise thereof for cash), the Company shall amend the Registration
Statements, or file a new Registration Statement (on the short form available therefor, if applicable), or both, so as to cover the total
number of Registrable Securities so issued or issuable (without giving effect to any limitations on exercise or conversion contained in
the Convertible Securities and, in the case of any Warrants, assuming the exercise thereof for cash) as of the Registration Trigger Date
as soon as practicable, but in any event within thirty (30) days after the Registration Trigger Date. The Company shall use its commercially
reasonable efforts to cause such amendment and/or new Registration Statement to become effective as soon as practicable following the
filing thereof, but in any event within sixty (60) days of the Registration Trigger Date or as promptly as practicable in the event the
Company is required to increase its authorized shares. “Trading Day” shall mean any day on which the Common Stock is traded
for any period on the NASDAQ Global Market or, if not the NASDAQ Global Market, the principal securities exchange or other securities
market on which the Common Stock is then being traded.

 

c. The Company shall furnish
to each Investor and Legal Counsel (i) promptly after the same is prepared and publicly distributed, filed with the SEC or received by
the Company, one copy of each Registration Statement and any amendment thereto, each preliminary Prospectus and Prospectus and each amendment
or supplement thereto, and, each letter written by or on behalf of the Company to the SEC or the staff of the SEC, and each item of correspondence
from the SEC or the staff of the SEC, in each case relating to such Registration Statement (other than any portion thereof which contains
information for which the Company has sought or intends to seek confidential treatment, which contains or reflects any material non-public
information with respect to the Company or its securities), and (ii) such number of copies of a Prospectus, including a

 

    7 

     

    

preliminary Prospectus, and
all amendments and supplements thereto and such other documents as an Investor may reasonably request in order to facilitate the disposition
of the Registrable Securities owned by such Investor; provided that the Company may provide any such copies in electronic form only. The
Company will promptly notify each of the Investors by electronic mail of the effectiveness of each Registration Statement or any post-effective
amendment thereto. To the extent applicable, the Company will use commercially reasonable efforts to promptly respond to any and all comments
received from the SEC with respect to any Registration Statement filed pursuant to this Agreement, with a view towards causing each Registration
Statement or any amendment thereto to become effective (to the extent required, by declaration or ordering of effectiveness, of such Registration
Statement or amendment by the SEC) as soon as practicable, and, as soon as practicable, but in no event later than four (4) Business Days,
following the resolution or clearance of all SEC comments or, if applicable, following notification by the SEC that any such Registration
Statement or any amendment thereto will not be subject to review, shall file a request for acceleration of effectiveness of such Registration
Statement (to the extent required for such Registration Statement or amendment to become effective, by declaration or ordering of effectiveness,
of such Registration Statement or amendment by the SEC) to a time and date not later than two (2) Business Days after the submission of
such request. No later than two (2) Business Days after the Registration Statement becomes effective, the Company shall file with the
SEC the final Prospectus included in the Registration Statement pursuant to Rule 424 (or successor thereto) under the Securities Act.

 

d. The Company shall use its
commercially reasonable efforts to (i) register and qualify, in any jurisdiction in the United States where registration and/or qualification
is required, the Registrable Securities covered by the Registration Statements under such other securities or “blue sky” laws
of such jurisdictions in the United States as the Investors shall reasonably request, (ii) prepare and file in those jurisdictions such
amendments (including post-effective amendments) and supplements to such registrations and qualifications as may be reasonably necessary
to maintain the effectiveness thereof during the Registration Period, (iii) take such other actions as may be reasonably necessary to
maintain such registrations and qualifications in effect at all times during the Registration Period, and (iv) take all other actions
reasonably necessary or advisable to qualify the Registrable Securities for sale in such jurisdictions; except that in no event shall
the Company be required to qualify to do business as a foreign corporation in any jurisdiction where it would not, but for the requirements
of this paragraph (d), be required to be so qualified, to subject itself to taxation in any such jurisdiction or to consent to general
service of process in any such jurisdiction, except where the Company is then already required to be so qualified, already subject to
taxation or required to consent to general service of process.

 

e. As promptly as practicable
after becoming aware of such event, the Company shall notify each Investor that holds Registrable Securities of the happening of any event,
of which the Company has knowledge, as a result of which the Prospectus included in any Registration Statement, as then in effect, includes
an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements
therein not misleading, and, subject to Section 3(r), shall use its commercially reasonable efforts to promptly prepare a supplement or
amendment to any Registration Statement to correct such untrue statement or omission, and deliver such number of copies of such supplement
or amendment to each Investor as such Investor may reasonably request.

 

    8 

     

    

f. The Company shall use its
commercially reasonable efforts to prevent the issuance of any stop order or other suspension of effectiveness of any Registration Statement
and, if such an order is issued, to obtain the withdrawal of such order as promptly as reasonably practicable and to notify each Investor
that holds Registrable Securities covered by such Registration Statement of the issuance of such order and the resolution thereof, in
each case as promptly as reasonably practicable.

 

g. The Company shall permit
one outside legal counsel designated by the Investors (which shall be Katten Muchin Rosenman LLP (Attn: Mark D. Wood) or such other counsel
as shall have been designated by the Investors) (“Legal Counsel”) to review such Registration Statement and all amendments
and supplements thereto (as well as all requests for acceleration or effectiveness thereof but excluding the Company’s filings under
the Exchange Act and excluding any amendment or supplement to a Registration Statement that is substantially similar to the Company’s
filings under the Exchange Act), a reasonable period of time prior to their filing with the SEC (not less than five (5) but not more than
ten (10) Business Days prior to such filing) and not file any documents in a form to which Legal Counsel reasonably objects and will not
request acceleration of such Registration Statement without prior notice to Legal Counsel; provided that, notwithstanding the foregoing,
in no event shall the Company be (i) required to file any document with the SEC which in the view of the Company or its counsel contains
any untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make any statement
therein not misleading or (ii) prohibited from filing any document with the SEC which the Company or its counsel reasonably believes to
be required by law to be so filed.

 

h. The Company shall hold in
confidence and not make any disclosure of information concerning an Investor provided to the Company unless (i) disclosure of such information
is necessary to comply with federal or state securities laws or otherwise required in the context of any Registration Statement or offering
of securities in which any Investor participates, (ii) the disclosure of such information is necessary to avoid or correct a misstatement
or omission in any Registration Statement, (iii) the release of such information is ordered pursuant to a subpoena or other order from
a court or governmental body of competent jurisdiction, or (iv) such information has been made generally available to the public other
than by disclosure in violation of this Agreement or any other agreement. The Company agrees that it shall, upon learning that disclosure
of such information concerning any Investor is sought in or by a court or governmental body of competent jurisdiction or through other
means, give prompt notice to such Investor prior to making such disclosure, and allow such Investor, at such Investor’s expense,
to undertake appropriate action to prevent disclosure of, or to obtain a protective order for, such information.

 

i. The Company shall use its
commercially reasonable efforts to cause all the Registrable Securities covered by each Registration Statement to be listed on the principal
U.S. securities exchange on which securities of the same class or series issued by the Company are then listed, and to arrange for at
least two market makers to register with FINRA as such with respect to such Registrable Securities.

 

j. The Company shall provide
a transfer agent and registrar, which may be a single entity, for the Registrable Securities not later than the effective date of the
initial Registration Statement.

 

    9 

     

    

k. The Company shall cooperate
with each Investor that holds Registrable Securities being offered and the managing underwriter or underwriters with respect to an applicable
Registration Statement, if any, to facilitate the timely (i) preparation and delivery of certificates (not bearing any restrictive legends)
representing Registrable Securities to be offered pursuant to such Registration Statement, and enable such certificates to be registered
in such names and in such denominations or amounts, as the case may be, or (ii) crediting of the Registrable Securities to be offered
pursuant to a Registration Statement to the applicable account (or accounts) with DTC through its Deposit/Withdrawal At Custodian (DWAC)
system, in any such case as such Investor or the managing underwriter or underwriters, if any, may reasonably request. Within two (2)
Business Days after a Registration Statement which includes Registrable Securities becomes effective, the Company shall deliver, and,
if required by the transfer agent, shall cause legal counsel selected by the Company to deliver, to the transfer agent for the Registrable
Securities (with copies to each Investor) an appropriate instruction and an opinion of such counsel in the form required by the transfer
agent in order to issue or transfer (as applicable) the Registrable Securities free of restrictive legends.

 

l. At the reasonable request
of an Investor, the Company shall prepare and file with the SEC such amendments (including post-effective amendments) and supplements
to a Registration Statement and any Prospectus used in connection with the Registration Statement as may be necessary in order to change
the plan of distribution set forth in such Registration Statement, in each case as promptly as is reasonably practicable.

 

m. Except to the extent required
by the Amended and Restated Investors’ Rights Agreement, dated as of June 12, 2019, among the Company and the investors signatory
thereto (for the avoidance of doubt, without giving effect to any amendment, restatement, or other modification thereof) (the “IRA”),
the Company shall not, and shall not agree to, allow the holders of any Common Stock or other securities of the Company to include any
of their securities (other than Registrable Securities) in any Registration Statement filed pursuant to Section 2(a) or any amendment
or supplement thereto under Section 3(b) hereof without the consent of Investors holding a majority-in-interest of the then outstanding
Registrable Securities. In addition, the Company shall not include any securities for its own account or, unless required by the IRA,
the account of others in any Registration Statement filed pursuant to Section 2(a) or any amendment or supplement thereto filed pursuant
to Section 3(b) hereof without the consent of Investors holding a majority-in-interest of the then outstanding Registrable Securities.

 

n. The Company shall comply
in all material respects with all applicable laws related to a Registration Statement and offering and sale of securities and all applicable
rules and regulations of governmental authorities in connection therewith (including the Securities Act and the Exchange Act and the rules
and regulations promulgated by the SEC).

 

o. If required by the FINRA
Corporate Financing Department, the Company shall promptly effect a filing with FINRA pursuant to FINRA Rule 5110 (or successor thereto)
with respect to the public offering contemplated by resales of securities under the Registration Statement (an “Issuer Filing”),
and pay the filing fee required by such Issuer Filing. The Company shall use its commercially reasonable efforts to pursue the Issuer
Filing until FINRA issues a letter confirming that it does not object to the terms of the offering contemplated by the Registration Statement.

 

    10 

     

    

p. If at any time the SEC advises
the Company in writing that the offering of some or all of the Registrable Securities in a Registration Statement is not eligible to be
made on a delayed or continuous basis under the provisions of Rule 415 under the Securities Act, the Company shall use its commercially
reasonable efforts to persuade the SEC that the offering contemplated by a Registration Statement is a bona fide secondary offering and
not an offering “by or on behalf of the issuer” as defined in Rule 415 and that none of the Investors is an “underwriter.”
The Investors shall have the right to participate or have their respective legal counsel be advised of, and consulted with regarding any
meetings or discussions with the SEC regarding the SEC’s position and to comment or have their respective counsel comment on any
written submission made to the SEC with respect thereto. In the event that, despite the Company’s commercially reasonable efforts
and compliance with the terms of this Section 3(p), the SEC refuses to alter its position, the Company shall remove from the Registration
Statement such portion of the Registrable Securities as the SEC requires in writing be removed therefrom. Any such cut-back imposed by
the SEC as contemplated by this Section 3(p) shall be imposed on a pro rata basis (based upon the Registrable Securities held by each
of the Investors).

 

q. Subject to the limitations
contained herein, the Company shall use its commercially reasonable efforts to take all other reasonable actions arising out of its obligations
under this Agreement and necessary to facilitate the disposition by the Investors of the Registrable Securities pursuant to a Registration
Statement.

 

r. Notwithstanding anything
to the contrary in Section 3(e), the Company may postpone effecting a Registration other than a Registration contemplated by Section 2(a)(i)
or, at any time after the effective date of the applicable Registration Statement, the Company may suspend the use of any prospectus forming
a part of such Registration Statement, if (i) other than in connection with the Mandatory Registration Statement contemplated by Section
2(a)(i), the Board of Directors of the Company determines that any registration or offering of Registrable Securities should not be made
or continued because it would materially and adversely interfere with any existing or potential material financing, acquisition, corporate
reorganization, merger, share exchange or other transaction or event involving the Company or any of its subsidiaries or because the Company
does not have appropriate financial statements of any acquired or to-be-acquired entities available for filing, or (ii) the Board of Directors
of the Company determines that it would otherwise be required to disclose material non-public information concerning the Company, the
disclosure of which (A) is not otherwise required and which the Company has a bona fide business purpose for preserving in confidence
and (B) at the time is not, in the good faith opinion of the Board of Directors of the Company and its counsel, in the best interests
of the Company (the period of such postponement or suspension, a “Grace Period”); provided, that the Company shall (x) promptly
notify the Investors in writing of the existence of the Grace Period (provided that in each notice the Company shall not disclose the
content of any material non-public information to any Investor unless otherwise requested in writing by such Investor) and the date on
which the Grace Period will begin, and (y) as soon as such date may be determined, promptly notify the Investors in writing of the date
on which the Grace Period ends; and, provided, further, that (x) no Grace Period shall exceed sixty (60) consecutive days, (y) during
any three hundred sixty five (365) day period, such Grace Periods shall not exceed an aggregate of ninety (90) days, and (z) the first
day of any Grace Period must be at least ten (10) days after the last day of any prior Grace Period (each Grace Period that satisfies
all of the requirements of this Section 3(r) being referred to as an “Allowable Grace Period”). For purposes of determining
the length of a Grace Period above, the Grace Period shall

 

    11 

     

    

begin on and include the date
the Investors receive the notice referred to in clause (i) and shall end on and include the later of the date the Investors receive the
notice referred to in clause (ii) and the date referred to in such notice. The provisions of Section 3(e) hereof shall not be applicable
during the period of any Allowable Grace Period. Upon expiration of the Grace Period, the Company shall again be bound by the first sentence
of Section 3(e) with respect to the information giving rise thereto unless such material non-public information is no longer applicable.

 

s. The Company shall not after
the date of this Agreement grant any Person any registration rights with respect to shares of Common Stock or any other securities of
the Company other than registration rights that will not adversely affect the rights of the Investors hereunder (including by limiting
in any way the number of Registrable Securities that could be included in any Registration Statement pursuant to Rule 415) and shall not
otherwise enter into any agreement that is inconsistent with the rights granted to the Investors hereunder; provided that the grant
of registration rights to other current or future securityholders shall not in and of itself be deemed to adversely affect the rights
of the Investors hereunder.

 

t. At all times during the Registration
Period, (a) the Company shall use reasonably best efforts to cause the Common Stock to be eligible for clearing through DTC, through its
Deposit/Withdrawal At Custodian (DWAC) system; (b) the Company shall be eligible and participating in the Direct Registration System (DRS)
of DTC with respect to the Common Stock; (c) the transfer agent for the Common Stock shall be a participant in, and the Common Stock shall
be eligible for transfer pursuant to, DTC’s Fast Automated Securities Transfer Program (or successor thereto); and (d) the Company
shall use its reasonable best efforts to cause the Common Stock to not at any time be subject to any DTC “chill,” “freeze”
or similar restriction with respect to any DTC services, including the clearing of shares of Common Stock through DTC, and, in the event
the Common Stock becomes subject to any DTC “chill,” “freeze” or similar restriction with respect to any DTC services,
the Company shall use its reasonable best efforts to cause any such “chill,” “freeze” or similar restriction to
be removed at the earliest possible time.

 

u. The Company acknowledges
and agrees that the undertaking set forth in Section 4(e) of this Agreement constitutes the “Undertaking” (as defined in the
2022 Warrants) of each Investor that holds a 2022 Warrant and that no additional Undertaking by or on behalf of any such Investor shall
be required to satisfy clause (A) of the definition of “Unrestricted Conditions” under the 2022 Warrants.

 

4.
OBLIGATIONS OF THE INVESTOR. In connection with the Registration of the Registrable Securities,
each Investor shall have the following obligations:

 

a. It shall be a condition precedent
to the obligations of the Company to complete the Registration pursuant to this Agreement with respect to the Registrable Securities of
an Investor that such Investor shall furnish to the Company such information regarding itself, the Registrable Securities held by it and
the intended method of disposition of the Registrable Securities held by it as shall be reasonably required to effect the Registration
of such Registrable Securities and shall execute such documents in connection with such registration as the Company may reasonably request.
At least five (5) Business Days prior to the first anticipated filing date of a Registration Statement, the Company shall notify each
Investor of the information the Company requires from such Investor. Any such information shall not contain any untrue statement of a
material fact or omit to state a material fact required to be stated therein, or necessary to make the statements therein not misleading.

 

    12 

     

    

b. Each Investor, by such Investor’s
acceptance of the Registrable Securities, agrees to cooperate with the Company as reasonably requested by the Company in connection with
the preparation and filing of a Registration Statement hereunder, unless such Investor has notified the Company in writing of such Investor’s
election to exclude all of the Investor’s Registrable Securities from such Registration Statement.

 

c. In the event of an underwritten
offering pursuant to Section 2(b) in which any Registrable Securities of any Investor are to be included, such Investor agrees to enter
into and perform the Investor’s obligations under an underwriting agreement, in usual and customary form, including customary indemnification
and contribution obligations (as applicable to selling security holders generally), with the managing underwriter of such offering; provided,
that no Investor including Registrable Securities in any underwritten offering shall be required to make any representations or warranties
to the Company or the underwriters other than representations and warranties regarding such Investor, such Investor’s ownership
of its Registrable Securities to be sold in the offering and such Investor’s intended method of distribution or to undertake any
indemnification obligations to the Company or the underwriters with respect thereto except to the extent expressly set forth in Section
7 hereof.

 

d. Each Investor agrees that,
upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3(e) or 3(f), such Investor
will immediately discontinue disposition of Registrable Securities pursuant to the Registration Statement covering such Registrable Securities
until such Investor’s receipt of the copies of the supplemented or amended Prospectus contemplated by Section 3(e) or 3(f); provided,
however, that the foregoing shall not prohibit or require the Investor to discontinue the settlement of any sale of Registrable Securities
with respect to which an Investor has entered into a contract for sale prior to the Investor’s receipt of a notice from the Company
of the happening of any event of the kind described in Section 3(e) or 3(f).

 

e. Each Investor that holds
a 2022 Warrant undertakes that it will only sell Warrant Shares issued without a restrictive legend and without being subject to stop
transfer or similar instructions (or with respect to which a restrictive legend or such instruction has been removed) pursuant to clause
(A) of the definition of “Unrestricted Conditions” (as such term is defined in the 2022 Warrants) pursuant to an effective
Registration Statement or Rule 144 under the Securities Act and, if the Warrant Shares (as defined in the 2022 Warrants) are sold pursuant
to a Registration Statement, they will be sold in compliance with the plan of distribution set forth therein. The Company and its counsel
and transfer agent shall be entitled to rely on the foregoing undertakings in issuing instructions letters and opinions.

 

5.
Registration Failure. If a Registration Failure
occurs, then, in addition to all other available remedies that the Investors may pursue hereunder or under any other document or agreement
to which it is a party, including the Transaction Documents (as defined below), the Company shall pay additional damages (the “Failure
Payment”) to each Investor for each 30-day period (prorated for any partial period) after the date of such Registration Failure
in an amount in cash equal to one percent (1.00%) of an amount equal to the product of (y) the number of 

 

    13 

     

    

Registrable
Securities held by such Investor, multiplied by (z) the Market Price (as defined in the 2022 Warrants), in each case, as of the date such
Registration Failure occurs. Such payments shall accrue until the earlier of (i) such time as the Registration Failure has been cured
and (ii) the date on which all of the Registrable Securities may be disposed of for the Holder’s own account without restriction
under Rule 144 (including, without limitation, volume restrictions and without need for the availability of “current public information”
under Rule 144). Each Investor shall be entitled to its pro rata portion of any such payments based upon the number of Registrable Securities
held by such Investor included, or to be included, as applicable, relative to the total number of Registrable Securities included, or
to be included, as applicable, in the Registration Statement giving rise to such payment. Notwithstanding anything express or implied
to the contrary in the foregoing provisions of this Section 5, (1) no Failure Payment shall accrue or be payable with respect to any period
after the expiration of the applicable Registration Period and (2) no Failure Payment shall accrue or be payable with respect to any period
that a Registration Statement is unavailable for resales of Registrable Securities solely due to a breach by an Investor that holds any
such Registrable Securities of its obligations under Section 4 hereof.

 

6.
EXPENSES OF REGISTRATION. All reasonable expenses, other than underwriting discounts and commissions
or other charges of any broker dealer acting on behalf of the Investors, incurred in connection with Registrations, filings or qualifications
pursuant to Sections 2 and 3, including all registration, listing and qualification fees, printers and accounting fees, and the fees and
disbursements of counsel for the Company shall be borne by the Company. The Company shall also reimburse the Investors for the reasonable
fees and disbursements of Legal Counsel in the aggregate amount up to $25,000 per Registration in connection with Registrations pursuant
to Section 2 or 3 of this Agreement.

 

7.
INDEMNIFICATION. In the event any Registrable Securities are included in a Registration Statement
under this Agreement:

 

a. The Company will indemnify,
hold harmless and defend (i) each Investor, (ii) the directors, officers, partners, managers, members, employees and agents of each Investor,
and each Person who controls any Investor within the meaning of the Securities Act or the Exchange Act, if any, and (iii) the directors,
officers, partners and employees of, and each Person who controls, any such underwriter within the meaning of the Securities Act or the
Exchange Act, if any (each, an “Indemnified Person”), against any joint or several losses, claims, damages, liabilities or
expenses (collectively, together with actions, proceedings or inquiries by any regulatory or self-regulatory organization, whether commenced
or threatened, in respect thereof, “Claims”) to which any of them may become subject insofar as such Claims arise out of or
are based upon: (i) any untrue statement or alleged untrue statement of a material fact in any Registration Statement, or any amendment
or supplement thereto, or any filing made under state securities laws as required hereby, or the omission or alleged omission to state
therein a material fact required to be stated or necessary to make the statements therein not misleading; (ii) any untrue statement or
alleged untrue statement of a material fact contained in any Prospectus, or any amendment or supplement thereto, or the omission or alleged
omission to state therein any material fact necessary to make the statements made therein, in the light of the circumstances under which
the statements therein were made, not misleading; or (iii) any violation or alleged violation by the Company of the Securities Act, the
Exchange Act, any other law, including any state securities law, or any rule or regulation thereunder relating to the offer or sale of
the Registrable Securities (the matters in the foregoing

 

    14 

     

    

clauses (i) through (iii) being,
collectively, “Violations”). The Company shall reimburse the Indemnified Person, promptly as such expenses are incurred and
are due and payable, for any reasonable legal fees and other reasonable expenses incurred by them in connection with investigating or
defending any such Claim. Notwithstanding anything to the contrary contained herein, the indemnification agreement contained in this Section
7(a) shall not apply to a Claim arising out of or based upon a Violation to the extent that such Violation occurs in reliance upon and
in conformity with information furnished in writing to the Company by or on behalf of any Indemnified Person expressly for use in connection
with the preparation of such Registration Statement or related Prospectus or any such amendment thereof or supplement thereto, or to any
amounts paid in settlement of any Claim effected without the prior written consent of the Company, which consent shall not be unreasonably
withheld or delayed. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of the
Indemnified Person and shall survive the transfer of the Registrable Securities by any of the Investors pursuant to Section 10.

 

b. Promptly after receipt by
an Indemnified Person under this Section 7 of notice of the commencement of any action (including any governmental action), such Indemnified
Person shall, if a Claim in respect thereof is to be made against the Company under this Section 7, deliver to the Company a written notice
of the commencement thereof, and the Company shall have the right to participate in, and, to the extent the Company so desires, to assume
control of the defense thereof with counsel mutually satisfactory to the Company and the Indemnified Person, as the case may be;

 

provided, however, that an Indemnified
Person shall have the right to retain its own counsel with the reasonable fees and expenses to be paid by the Company, if, in the reasonable
opinion of counsel for such Indemnified Person, the representation by such counsel of the Indemnified Person and the Company would be
inappropriate due to actual or potential differing interests between such Indemnified Person and any other party represented by such counsel
in such proceeding. The Company shall pay for only one separate legal counsel (plus local counsel) for the Indemnified Persons, and such
legal counsel shall be selected by the Investors. The failure to deliver written notice to the Company within a reasonable time of the
commencement of any such action shall not relieve the Company of any liability to the Indemnified Person under this Section 7, except
to the extent that the Company is actually prejudiced by such failure in its ability to defend such action, and shall not relieve the
Company of any liability to the Indemnified Person otherwise than pursuant to this Section 7. The Company shall not, without the prior
written consent of the Indemnified Persons, consent to entry of any judgment or enter into any settlement or other compromise with respect
to any Claim in respect of which indemnification or contribution may be or has been sought hereunder (whether or not any such Indemnified
Person is an actual or potential party to such action or claim) which does not include as an unconditional term thereof the giving by
the claimant or plaintiff to the Indemnified Persons of a full release from all liability with respect to such Claim or which includes
any admission as to fault, culpability or failure to act on the part of any Indemnified Person. The indemnification required by this Section
7 shall be made by periodic payments of the amount thereof during the course of the investigation or defense, as any expense, loss, damage
or liability is incurred.

 

    15 

     

    

c. Each Investor will indemnify,
hold harmless and defend (i) the Company, and (ii) the directors, officers, partners, managers, members, employees and agents
of the Company, if any (each, a “Company Indemnified Person”), against any Claims to which any of them may become subject
insofar as such Claims arise out of or are based upon any violation or alleged violation by the Company of the Securities Act, the Exchange
Act, any other law, including any state securities law, or any rule or regulation thereunder relating to the offer or sale of the Registrable
Securities, which occurs due to the inclusion by the Company in a Registration Statement or Prospectus, or any amendment or supplement
thereto, of false or misleading information about an Investor, where such information was furnished in writing to the Company by or on
behalf of such Investor expressly for the purpose of inclusion in such Registration Statement or Prospectus. Notwithstanding anything
herein to the contrary, the indemnity agreement contained in this Section 7(c) shall not apply to amounts paid in settlement of any
Claim if such settlement is effected without the prior written consent of the Investors, which consent shall not be unreasonably withheld,
conditioned or delayed; and provided, further, however, that an Investor shall be liable under this Section 7(c) for only that
amount of a Claim as does not exceed the net amount of proceeds received by such Investor as a result of the sale of Registrable Securities
pursuant to such Registration Statement.

 

d. Promptly after receipt by
a Company Indemnified Person under this Section 7 of notice of the commencement of any action (including any governmental action),
such Company Indemnified Person shall, if a Claim in respect thereof is to be made against any Investor under this Section 7, deliver
to such Investor a written notice of the commencement thereof, and such Investor shall have the right to participate in, and, to the extent
such Investor so desires, to assume control of the defense thereof with counsel mutually satisfactory to such Investor and such Company
Indemnified Person. No Investor shall, without the prior written consent of the Company, consent to entry of any judgment or enter into
any settlement or other compromise with respect to any Claim in respect of which indemnification or contribution may be or has been sought
by any Company Indemnified Person hereunder (whether or not any such Company Indemnified Person is an actual or potential party to such
action or claim) which does not include as an unconditional term thereof the giving by the claimant or plaintiff to the Company Indemnified
Persons of a full release from all liability with respect to such Claim or which includes any admission as to fault or culpability on
the part of any Company Indemnified Person.

 

8.
CONTRIBUTION. If for any reason the indemnification provided for in Section 7(a) or 7(c) (as
applicable) is unavailable to an Indemnified Person or Company Indemnified Person (as applicable) or insufficient to hold it harmless,
other than as expressly specified therein, then the indemnifying party shall contribute to the amount paid or payable by the Indemnified
Person or Company Indemnified Person (as applicable) as a result of the Claim in such proportion as is appropriate to reflect the relative
fault of the Indemnified Person or Company Indemnified Person (as applicable) and the indemnifying party (provided that the relative fault
of any Company Indemnified Person shall be deemed to include the fault of all other Company Indemnified Persons), as well as any other
relevant equitable considerations. No Person guilty of fraudulent misrepresentation within the meaning of Section 11(f) of the Securities
Act shall be entitled to contribution from any Person not guilty of such fraudulent misrepresentation. In no event shall the contribution
obligation of an Investor be greater in amount than the net amount of proceeds received by such Investor as a result of the sale of Registrable
Securities giving rise to such contribution obligation pursuant to the applicable Registration Statement (net of the aggregate amount
of any damages or other amounts such Investor has otherwise been required to pay (pursuant to Section 7(c) or otherwise) by reason of
such Investor’s untrue or alleged untrue statement or omission or alleged omission).

 

    16 

     

    

9.
REPORTS UNDER THE 1934 ACT. With a view to making available to the Investors the benefits of
Rule 144 promulgated under the Securities Act or any other similar rule or regulation of the SEC that may at any time permit the
Investors to sell securities of the Company to the public without registration, the Company agrees to, during the Registration Period:

 

a. make and keep public information
available, as those terms are understood and defined in Rule 144;

 

b. file with the SEC in a timely
manner (without giving effect to any extensions pursuant to Rule 12b-25 under the Exchange Act) all reports and other documents required
of the Company under the Exchange Act so long as the Company remains subject to such requirements and the filing of such reports and other
documents is required for the applicable provisions of Rule 144; and

 

c. so long as any of the Investors
owns Registrable Securities, promptly upon request, furnish to such Investor (i) a written statement by the Company that it has complied
with the reporting requirements of the Exchange Act as required for applicable provisions of Rule 144, (ii) a copy of the most recent
annual or quarterly report of the Company and such other reports and documents so filed by the Company and (iii) such other information
as may be reasonably requested to permit such Investor to sell such Registrable Securities pursuant to Rule 144 without registration.

 

10.
ASSIGNMENT OF REGISTRATION RIGHTS. The rights under this Agreement shall be automatically assignable
by each Investor to any transferee of all or any portion of the Registrable Securities if: (i) such Investor agrees in writing with
the transferee or assignee to assign such rights, and a copy of such agreement is furnished to the Company within a reasonable time after
such assignment, (ii) the Company is, within a reasonable time after such transfer or assignment, furnished with written notice of
(a) the name and address of such transferee or assignee, and (b) the securities with respect to which such registration rights
are being transferred or assigned, and (iii) at or before the time the Company receives the written notice contemplated in clause (ii)
of this sentence, the transferee or assignee agrees in writing with the Company to be bound by all of the provisions contained herein
as applicable to an Investor. In the event that the Company receives written notice from an Investor that it has transferred all or any
portion of its Registrable Securities pursuant to this Section 10, the Company, within ten (10) days, shall file any amendments or supplements
necessary to keep a Registration Statement current, effective and available for the resale of all of the Registrable Securities pursuant
to Rule 415. The Company shall not assign this Agreement or any rights or obligations hereunder without the prior written consent of the
holders of a majority-in-interest of the then-outstanding Registrable Securities. 

 

11.
AMENDMENT OF REGISTRATION RIGHTS. Provisions of this Agreement may be amended and the observance
thereof may be waived (either generally or in a particular instance and either retroactively or prospectively), only with written consent
of the Company and the holders of a majority in interest of then-outstanding Registrable Securities. Any amendment or waiver effected
in accordance with this Section 11 shall be binding upon each of the Investors and the Company.

 

    17 

     

    

 

12.
MISCELLANEOUS.

 

a. A Person is deemed to hold,
and be a holder of, shares of Common Stock or other Registrable Securities whenever such Person owns of record or beneficially through
a “street name” holder such shares of Common Stock or other Registrable Securities (or the Convertible Securities or other
securities upon exercise, conversion or exchange of which such Registrable Securities are directly or indirectly issuable, without giving
effect to any limitations on exercise or conversion of the Convertible Securities or other securities, and, in the case of any Warrants,
assuming the exercise thereof for cash), and solely for purposes hereof, Registrable Securities shall be deemed outstanding to the extent
they are directly or indirectly issuable upon exercise or conversion of the Convertible Securities or other outstanding securities, Registrable
Securities, without giving effect to any limits on exercise, conversion or exchange of the Convertible Securities or other securities
and, in the case of any Warrants, assuming the exercise thereof for cash. If the Company receives conflicting instructions, notices or
elections from two or more Persons with respect to the same Registrable Securities, the Company shall act upon the basis of instructions,
notice or election received from the registered owner of such Registrable Securities (or the Convertible Securities or other securities
upon exercise, conversion or exchange of which such Registrable Securities are directly or indirectly issuable).

 

b. Any notices required or permitted
to be given under the terms hereof shall be delivered personally or by courier (including a recognized overnight delivery service) or
by electronic mail and shall be effective upon receipt, in each case addressed to a party. The addresses for such communications shall
be:

 

If to the Company:

 

Acutus Medical, Inc.

2210 Faraday Ave Suite 100

Carlsbad, CA 92008

E-mail: [
]

Attn: David Roman

 

With copy to:

 

Davis Polk & Wardwell LLP

1600 El Camino Real

Menlo Park, CA 94025

E-mail: [
]

Attn: Alan Denenberg

 

If to an Investor:

 

c/o Deerfield Management Company, L.P.

345 Park Avenue South, 12th Floor

New York, NY 10010

Attn: Legal Department

E-mail: [ ]

 

    18 

     

    

With a copy to:

 

Katten Muchin Rosenman LLP

525 West Monroe Street

Chicago, Il 60661

Email: [ ]
 Attn: Mark D. Wood and Jonathan D. Weiner

 

Each party shall provide notice to the other party
of any change in address, and any additional Investor shall provide its address for purposes hereof to the Company.

 

c. Failure of any party to exercise
any right or remedy under this Agreement or otherwise, or delay by a party in exercising such right or remedy, shall not operate as a
waiver thereof.

 

d. Governing Law. All questions
concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by and construed and enforced
in accordance with the internal laws of the State of New York, without regard to the principles of conflicts of law thereof that would
result in the application of the substantive law of any other jurisdiction. Each party agrees that all legal proceedings concerning the
interpretations, enforcement and defense of the transactions contemplated by this Agreement (whether brought against a party hereto or
its respective affiliates, directors, officers, shareholders, employees or agents) shall be commenced exclusively in the state and federal
courts sitting in the City of New York, borough of Manhattan (and, in each case, the applicable state and federal appeals courts sitting
in the City of New York or, if not available or applicable, the State of New York). Each party hereby irrevocably submits to the exclusive
jurisdiction of the state and federal courts sitting in the City of New York, Borough of Manhattan for the adjudication of any dispute
hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and
agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court,
that such suit, action or proceeding is improper or is an inconvenient venue for such proceeding. Each party hereby irrevocably waives
personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof via
registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it
under this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing
contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted by law. The parties hereby
waive all rights to a trial by jury. If either party shall commence an action or proceeding to enforce any provision of this Agreement,
then the prevailing party in such action or proceeding shall be reimbursed by the other party for its reasonable attorneys’ fees
and other costs and expenses incurred with the investigation, preparation and prosecution of such action or proceeding.

 

e. This Agreement, the Credit
Agreement, the Warrants and the instruments referenced herein and therein, including the Loan Documents (as defined in the Credit Agreement)
(collectively, the “Transaction Documents”), constitute the entire agreement among the parties hereto with respect to the
subject matter hereof and thereof. This Agreement and the other Transaction Documents (including all schedules and exhibits hereto and
thereto) supersede all prior agreements and understandings among the parties hereto with respect to the subject matter hereof and thereof.

 

    19 

     

    

f. Subject to the requirements
of Section 10 hereof, this Agreement shall inure to the benefit of and be binding upon the successors and permitted assigns of each
of the parties hereto, and the provisions of Sections 7 and 8 hereof shall inure to the benefit of, and be enforceable by, each Indemnified
Person and Company Indemnified Person (as applicable).

 

g. The headings in this Agreement
are for convenience of reference only and shall not limit or otherwise affect the meaning hereof.

 

h. This Agreement and any amendments
hereto may be executed and delivered in two or more counterparts, and by the different parties hereto in separate counterparts, each of
which when executed shall be deemed to be an original, but all of which taken together shall constitute one and the same agreement, and
shall become effective when counterparts have been signed by each party hereto and delivered to the other parties hereto, it being understood
that all parties need not sign the same counterpart. In the event that any signature to this Agreement or any amendment hereto is delivered
by facsimile transmission, by e-mail delivery of a “.pdf” format data file or by other electronic means, such signature shall
create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect
as if such facsimile, “.pdf” or other electronic signature page were an original thereof. No party hereto shall raise the
use of a facsimile machine, e-mail delivery of a “.pdf” format data file or other electronic means to deliver a signature
to this Agreement or any amendment hereto or the fact that such signature was transmitted or communicated through the use of a facsimile
machine, e-mail delivery of a “.pdf” format data file or other electronic means as a defense to the formation or enforceability
of a contract, and each party hereto forever waives any such defense.

 

i. The Company shall do and
perform, or cause to be done and performed, all such further acts and things, and shall execute and deliver all such other agreements,
certificates, instruments and documents, as the Investors may reasonably request in order to carry out the intent and accomplish the purposes
of this Agreement and the consummation of the transactions contemplated hereby.

 

j. The Company acknowledges
that a breach by it of its obligations hereunder will cause irreparable harm to the Investors by vitiating the intent and purpose of the
transactions contemplated hereby. Accordingly, the Company acknowledges that the remedy at law for breach of its obligations hereunder
will be inadequate and agrees, in the event of a breach or threatened breach by the Company of any of the provisions hereunder, that the
Investors shall be entitled, in addition to all other available remedies in law or in equity, to an injunction or injunctions to prevent
or cure breaches of the provisions of this Agreement and to enforce specifically the terms and provisions hereof, without the necessity
of showing economic loss and without any bond or other security being required. Notwithstanding the foregoing, no Investor shall have
any right to obtain or seek an injunction restraining or otherwise delaying any Registration to which Section 2(b) may be applicable as
the result of any controversy that might arise with respect to the interpretation or implementation of this Agreement.

 

    20 

     

    

k. The language used in this
Agreement will be deemed to be the language chosen by the parties to express their mutual intent, and no rule of strict construction will
be applied against any party.

 

l. In the event that any provision
of this Agreement is invalid or unenforceable under any applicable statute or rule of law, then such provision shall be deemed inoperative
to the extent that it may conflict therewith and shall be deemed modified to conform with such statute or rule of law. Any provision hereof
which may prove invalid or unenforceable under any law shall not affect the validity or enforceability of any other provision hereof.

 

m. In the event an Investor
shall sell or otherwise transfer any of such holder’s Registrable Securities, each transferee shall be allocated a pro rata portion
of the number of Registrable Securities included in a Registration Statement for such transferor.

 

n. There shall be no oral modifications
or amendments to this Agreement. This Agreement may be modified or amended only in writing.

 

o. The obligations of each Investor
hereunder are several and not joint with the obligations of any other Investor, and no provision of this Agreement (or any other Transaction
Document) is intended to confer any obligations on any Investor vis-à-vis any other Investor. Nothing contained herein (or in any
Transaction Document), and no action taken by any Investor pursuant hereto (or thereto), shall be deemed to constitute the Investors as
a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Investors are in any way
acting in concert or as a group with respect to such obligations or the transactions contemplated herein (or therein).

 

p. Unless the context otherwise
requires, (i) all references to Sections, Schedules or Exhibits are to Sections, Schedules or Exhibits contained in or attached to this
Agreement, (ii) words in the singular or plural include the singular and plural, and pronouns stated in either the masculine, the feminine
or neuter gender shall include the masculine, feminine and neuter, and (iii) the use of the word “including” in this Agreement
shall be by way of example rather than limitation.

 

[Remainder of page left intentionally blank]

 

[Signature page follows]

 

    21 

     

    

IN WITNESS WHEREOF, the undersigned
Investors and the Company have caused this Registration Rights Agreement to be duly executed as of the date first written above.

 

 

	 	
    COMPANY:

     

    ACUTUS MEDICAL, INC.

     

    By:      /s/ David Roman                     

    

    Name: David Roman

    

    Title:   Chief Financial Officer

     

	 	 

 

[SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

 

 

    

     

    

IN WITNESS WHEREOF, the undersigned
Investors and the Company have caused this Registration Rights Agreement to be duly executed as of the date first written above.

 

	 	
    INVESTORS:

     

    DEERFIELD PARTNERS, L.P.

     

    By: Deerfield Mgmt, L.P.,

    

    its General Partner

     

    By:J.E. Flynn Capital, LLC,

    

    its General Partner

     

    By:      /s/ David J. Clark                      

    

    Name: David J. Clark

    

    Title:   Authorized Signatory

    

    

 

 

	 	
    DEERFIELD PRIVATE DESIGN FUND III, L.P.

     

    By: Deerfield Mgmt III, L.P.,

    

    its General Partner

     

    By:J.E. Flynn Capital III, LLC,

    

    its General Partner

     

    By:      /s/ David J. Clark                      

    

    Name: David J. Clark

    

    Title:  Authorized Signatory

    

 

 

 

[SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]US$3,750,000,000

    364-DAY CREDIT AGREEMENT

     

    dated as of

     

    July 1, 2022,

    

    among

    

    AUTOMATIC DATA PROCESSING, INC.

     

    The BORROWING SUBSIDIARIES

    referred to herein

     

    The LENDERS Party Hereto

     

    JPMORGAN CHASE BANK, N.A.,

    as Administrative Agent

     

    _________________________

     

    BANK OF AMERICA, N.A.

    BNP PARIBAS

     

    WELLS FARGO BANK, N.A. and

    DEUTSCHE BANK SECURITIES INC.,

    as Syndication Agents

    

    

     

    BARCLAYS BANK PLC and

    MUFG BANK, LTD.,

     

    as Documentation Agents

     

    JPMORGAN CHASE BANK, N.A.

    BOFA SECURITIES, INC.

     

    BNP PARIBAS SECURITIES CORP.

     

    WELLS FARGO SECURITIES, LLC and

    DEUTSCHE BANK SECURITIES INC.,

    as Joint Lead Arrangers and Joint Bookrunners

     

[CS&M Ref. No. 6701-136]

 

    	 

    	 

    

TABLE OF CONTENTS

 

	ARTICLE I Definitions
	SECTION 1.01. Defined Terms.	1
	SECTION 1.02. Classification of Loans and Borrowings.	22
	SECTION 1.03. Terms Generally.	22
	SECTION 1.04. Accounting Terms; GAAP.	22
	SECTION 1.05. Divisions.	22
	SECTION 1.06. Interest Rates; Benchmark Notification.	23
	ARTICLE II The Credits
	SECTION 2.01. Commitments.	23
	SECTION 2.02. Loans and Borrowings.	23
	SECTION 2.03. Requests for Revolving Borrowings.	25
	SECTION 2.04. Competitive Bid Procedure.	25
	SECTION 2.05. Funding of Borrowings.	27
	SECTION 2.06. Repayment of Borrowings; Evidence of Debt; Extension of Maturity Date.	28
	SECTION 2.07. Interest Elections.	29
	SECTION 2.08. Termination and Reduction of Commitments.	31
	SECTION 2.09. Prepayment of Loans.	31
	SECTION 2.10. Fees.	32
	SECTION 2.11. Interest.	33
	SECTION 2.12. Alternate Rate of Interest.	33
	SECTION 2.13. Increased Costs.	36
	SECTION 2.14. Break Funding Payments.	38
	SECTION 2.15. Taxes.	38
	SECTION 2.16. Payments Generally; Pro Rata Treatment; Sharing of Setoffs.	40
	SECTION 2.17. Mitigation Obligations; Replacement of Lenders.	41
	SECTION 2.18. Designation of Borrowing Subsidiaries.	42
	SECTION 2.19. Defaulting Lenders.	43
	ARTICLE III

                                                                                 

                                                                                Representations and Warranties

	SECTION 3.01. Organization; Powers.	43
	SECTION 3.02. Authorization; Enforceability.	44
	SECTION 3.03. Governmental Approvals; No Conflicts.	44
	SECTION 3.04. Financial Position; No Material Adverse Change.	44

     

     

    

 

	SECTION 3.05. Properties.	45
	SECTION 3.06. Litigation and Environmental Matters.	45
	SECTION 3.07. Compliance with Laws and Agreements.	45
	SECTION 3.08. Federal Reserve Regulations..	45
	SECTION 3.09. Investment Company Status.	46
	SECTION 3.10. Taxes.	46
	SECTION 3.11. ERISA.	46
	SECTION 3.12. Disclosure..	46
	SECTION 3.13. Anti-Corruption Laws and Sanctions.	46
	SECTION 3.14. Affected Financial Institution.	46
	ARTICLE IV

                                                                                 

                                                                                Conditions

	SECTION 4.01. Effective Date.	47
	SECTION 4.02. Each Credit Event.	48
	SECTION 4.03. Initial Credit Event for each Borrowing Subsidiary.	48
	ARTICLE V

                                                                                 

                                                                                Affirmative Covenants

	SECTION 5.01. Financial Statements and Other Information.	48
	SECTION 5.02. Notices of Material Events.	50
	SECTION 5.03. Existence; Conduct of Business.	50
	SECTION 5.04. Payment of Taxes.	50
	SECTION 5.05. Maintenance of Properties.	50
	SECTION 5.06. Books and Records; Inspection Rights.	50
	SECTION 5.07. Compliance with Laws.	51
	SECTION 5.08. Use of Proceeds.	51
	ARTICLE VI Negative Covenants
	SECTION 6.01. Liens.	51
	SECTION 6.02. Sale and Leaseback Transactions.	52
	SECTION 6.03. Fundamental Changes.	53
	ARTICLE VII

                                                                                 

                                                                                Events of Default

	ARTICLE VIII

                                                                                 

                                                                                The Administrative Agent

     

     

    

 

 

	ARTICLE IX

                                                                                 

                                                                                Guarantee

	ARTICLE X

                                                                                 

                                                                                Miscellaneous

	SECTION 10.01. Notices.	62
	SECTION 10.02. Waivers; Amendments.	63
	SECTION 10.03. Limitation of Liability; Expenses; Indemnity.	64
	SECTION 10.04. Successors and Assigns.	65
	SECTION 10.05. Survival.	68
	SECTION 10.06. Counterparts; Integration; Effectiveness.	68
	SECTION 10.07. Severability.	70
	SECTION 10.08. Right of Setoff.	70
	SECTION 10.09. Governing Law; Jurisdiction; Consent to Service of Process.	70
	SECTION 10.10. WAIVER OF JURY TRIAL.	71
	SECTION 10.11. Headings.	71
	SECTION 10.12. Confidentiality.	71
	SECTION 10.13. Conversion of Currencies..	73
	SECTION 10.14. Interest Rate Limitation.	73
	SECTION 10.15. Certain Notices.	73
	SECTION 10.16. No Fiduciary Relationship.	74
	SECTION 10.17. Acknowledgement of and Consent to Bail-In of Affected Financial Institutions.	74

 

SCHEDULES:

Schedule 2.01— Lenders and Commitments

Schedule 2.16— Payment Instructions

Schedule 6.01— Liens

 

EXHIBITS:

Exhibit A— Form of Assignment and Assumption

Exhibit B-1— Form of Borrowing Subsidiary Agreement

Exhibit B-2— Form of Borrowing Subsidiary Termination

Exhibit C— Form of Promissory Note

Exhibit D— Form of Opinion of Chief Legal Officer of the Company

 

    	 

    	 

    

364-DAY CREDIT AGREEMENT
dated as of July 1, 2022 (this “Agreement”), among AUTOMATIC DATA PROCESSING, INC., a Delaware corporation
(the “Company”); the BORROWING SUBSIDIARIES from time to time party hereto (the Company and the Borrowing Subsidiaries
being collectively called the “Borrowers”); the LENDERS from time to time party hereto; and JPMORGAN CHASE BANK, N.A.,
as Administrative Agent.

 

The Company has requested that
the Lenders (such term and each other capitalized term used and not otherwise defined herein having the meaning assigned to it in Article
I) extend credit in the form of Commitments under which the Borrowers may obtain Loans in US Dollars in an aggregate principal amount
outstanding at any time of US$3,750,000,000. The Company has also requested that the Lenders provide (a) a procedure pursuant to
which the Borrowers may invite the Lenders to bid on an uncommitted basis on short-term Loans to the Borrowers and (b) a procedure
pursuant to which the Borrowers may obtain Loans on an uncommitted basis from individual Lenders on terms to be negotiated at the time
such Loans are requested. The proceeds of borrowings hereunder are to be used for general corporate purposes of the Borrowers and their
subsidiaries, including the refinancing of any indebtedness outstanding under the Company’s 364-Day Credit Agreement dated as of
June 9, 2021 (as amended, restated supplemented or otherwise modified, the “Existing Credit Agreement”).

 

The Lenders are willing to establish
the credit facilities referred to in the preceding paragraph upon the terms and subject to the conditions set forth herein. Accordingly,
the parties hereto agree as follows:

 

ARTICLE
I

Definitions

 

SECTION
1.01. Defined Terms. As used in this Agreement, the following terms have the meanings specified below:

 

“ABR”, when
used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, bear interest at a rate
determined by reference to the Alternate Base Rate.

 

“Adjusted Daily Simple
SOFR” means an interest rate per annum equal to (a) the Daily Simple SOFR, plus (b) 0.10%; provided that if the Adjusted
Daily Simple SOFR as so determined would be less than the Floor, such rate shall be deemed to be equal to the Floor for the purposes of
this Agreement.

 

“Adjusted Term SOFR
Rate” means, for any Interest Period, an interest rate per annum equal to (a) the Term SOFR Rate for such Interest Period, plus
(b) 0.10%; provided that if the Adjusted Term SOFR Rate as so determined would be less than the Floor, such rate shall be deemed
to be equal to the Floor for purposes of this Agreement.

 

[Signature Page to ADP 364-Day Credit Agreement]

 

    

     2

    

“Administrative Agent”
means JPMCB, in its capacity as administrative agent for the Lenders hereunder, or any successor in such capacity. Unless the context
requires otherwise, the term “Administrative Agent” shall include any Affiliate of JPMCB through which JPMCB shall perform
any of its obligations in such capacity hereunder.

 

“Administrative Questionnaire”
means an Administrative Questionnaire in a form supplied by the Administrative Agent.

 

“Affiliate”
means, with respect to a specified Person, another Person that directly, or indirectly through one or more intermediaries, Controls or
is Controlled by or is under common Control with the Person specified.

 

“Agreement Currency”
has the meaning assigned to such term in Section 10.13(b).

 

“Alternate Base Rate”
means, for any day, a rate per annum equal to the greatest of (a) the Prime Rate in effect on such day, (b) the NYFRB Rate in
effect on such day plus 1⁄2 of 1% and (c) the Adjusted Term SOFR Rate for a one month Interest Period as published two U.S. Government
Securities Business Days prior to such day (or if such day is not a Business Day, the immediately preceding Business Day) plus
1%; provided that for the purpose of this definition, the Adjusted Term SOFR Rate for any day shall be based on the Term SOFR Reference
Rate at approximately 5:00 a.m. Chicago time on such day (or any amended publication time for the Term SOFR Reference Rate, as specified
by the CME Term SOFR Administrator in the Term SOFR Reference Rate methodology). Any change in the Alternate Base Rate due to a change
in the Prime Rate, the NYFRB Rate or the Adjusted Term SOFR Rate shall be effective from and including the effective date of such change
in the Prime Rate, the NYFRB Rate or the Adjusted Term SOFR Rate, respectively. If the Alternate Base Rate is being used as an alternate
rate of interest pursuant to Section 2.12 (for the avoidance of doubt, only until the Benchmark Replacement has been determined pursuant
to Section 2.12(b)), then the Alternate Base Rate shall be the greater of clauses (a) and (b) above and shall be determined without reference
to clause (c) above. For the avoidance of doubt, if the Alternate Base Rate as determined pursuant to the foregoing would be less than
0.00%, such rate shall be deemed to be 0.00%.

 

“Ancillary Document”
has the meaning assigned to such term in Section 10.06(b).

 

“Anti-Corruption Laws”
means the FCPA and other laws, rules and regulations applicable to the Borrower or its Subsidiaries concerning or relating to bribery
or corruption.

 

“Applicable Rate”
means a rate per annum equal to, with respect to (a) any Term Benchmark Loan, 0.625% and (b) any ABR Loan, 0.00%.

 

“Arranger”
means each of JPMCB, BofA Securities, Inc., BNP Paribas Securities Corp., Wells Fargo Securities, LLC and Deutsche Bank Securities Inc.,
each in its capacity as joint lead arranger and joint bookrunner for the credit facility established hereunder.

 

    

     3

    

“Assignment and Assumption”
means an assignment and assumption entered into by a Lender and an assignee (with the consent of any party whose consent is required by
Section 10.04), and accepted by the Administrative Agent, in the form of Exhibit A or any other form approved by the Administrative
Agent.

 

“Attributable Debt”
means, with respect to any Sale and Leaseback Transaction, the present value (discounted at the rate set forth or implicit in the terms
of the lease included in such Sale and Leaseback Transaction) of the total obligations of the lessee for rental payments (other than amounts
required to be paid on account of taxes, maintenance, repairs, insurance, assessments, utilities, operating and labor costs and other
items which do not constitute payments for property rights) during the remaining term of the lease included in such Sale and Leaseback
Transaction (including any period for which such lease has been extended). In the case of any lease which is terminable by the lessee
upon payment of a penalty, the Attributable Debt shall be the lesser of the Attributable Debt determined assuming termination upon the
first date such lease may be terminated (in which case the Attributable Debt shall also include the amount of the penalty, but no rent
shall be considered as required to be paid under such lease subsequent to the first date upon which it may be so terminated) or the Attributable
Debt determined assuming no such termination.

 

“Availability Period”
means the period from and including the Effective Date to but excluding the earlier of the Termination Date and the date of termination
of the Commitments.

 

“Available Tenor”
means, as of any date of determination and with respect to the then-current Benchmark, as applicable, any tenor for such Benchmark (or
component thereof) or payment period for interest calculated with reference to such Benchmark (or component thereof), as applicable, that
is or may be used for determining the length of an Interest Period for any term rate or otherwise, for determining any frequency of making
payments of interest calculated pursuant to this Agreement as of such date and not including, for the avoidance of doubt, any tenor for
such Benchmark that is then-removed from the definition of “Interest Period” pursuant to clause (e) of Section 2.12.

 

“Bankruptcy Event”
means, with respect to any Person, that such Person becomes the subject of a bankruptcy or insolvency proceeding, or has had a receiver,
conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with the reorganization or liquidation
of its business or custodian appointed for it, or, in the good faith determination of the Administrative Agent, has taken any action in
furtherance of, or indicating its consent to, approval of or acquiescence in any such proceeding or appointment, provided that
a Bankruptcy Event shall not result solely by virtue of any ownership interest, or the acquisition of any ownership interest, in such
Person by a Governmental Authority or instrumentality thereof. If, however, such ownership interest results in or provides such Person
with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on
its assets or permits such Person (or such Governmental Authority or instrumentality) to reject, repudiate, disavow or disaffirm any contracts
or agreements made by such Person, such ownership interest will constitute a Bankruptcy Event. Nothing

 

    

     4

    

in this definition or elsewhere
in this Agreement shall require any Person to disclose any information that it would be prohibited from disclosing under applicable law
or regulation.

 

“Benchmark”
means, initially, with respect to any Term Benchmark Loan, the Term SOFR Rate; provided that if a Benchmark Transition Event, and
the related Benchmark Replacement Date have occurred with respect to the Term SOFR Rate or the then-current Benchmark, then “Benchmark”
means the applicable Benchmark Replacement to the extent that such Benchmark Replacement has replaced such prior benchmark rate pursuant
to clause (b) of Section 2.12.

 

“Benchmark Replacement”
means, for any Available Tenor, the first alternative set forth in the order below that can be determined by the Administrative Agent
for the applicable Benchmark Replacement Date:

 

(1) the Adjusted
Daily Simple SOFR;

 

(2) the sum of: (a) the alternate
benchmark rate that has been selected by the Administrative Agent and the Company as the replacement for the then-current Benchmark for
the applicable Corresponding Tenor giving due consideration to (i) any selection or recommendation of a replacement benchmark rate or
the mechanism for determining such a rate by the Relevant Governmental Body or (ii) any evolving or then-prevailing market convention
for determining a benchmark rate as a replacement for the then-current Benchmark for US Dollar-denominated syndicated credit facilities
at such time in the United States and (b) the related Benchmark Replacement Adjustment;

 

If the Benchmark Replacement
as determined pursuant to clause (1) or (2) above would be less than the Floor, the Benchmark Replacement will be deemed to be the Floor
for the purposes of this Agreement and the other Loan Documents.

 

“Benchmark Replacement
Adjustment” means, with respect to any replacement of the then-current Benchmark with an Unadjusted Benchmark Replacement for
any applicable Interest Period and Available Tenor for any setting of such Unadjusted Benchmark Replacement, the spread adjustment, or
method for calculating or determining such spread adjustment (which may be a positive or negative value or zero), that has been selected
by the Administrative Agent and the Company for the applicable Corresponding Tenor giving due consideration to (i) any selection or recommendation
of a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of such Benchmark with the
applicable Unadjusted Benchmark Replacement by the Relevant Governmental Body on the applicable Benchmark Replacement Date and/or (ii)
any evolving or then-prevailing market convention for determining a spread adjustment, or method for calculating or determining such spread
adjustment, for the replacement of such Benchmark with the applicable Unadjusted Benchmark Replacement for US Dollar-denominated syndicated
credit facilities at such time.

 

“Benchmark Replacement
Conforming Changes” means, with respect to any Benchmark Replacement and/or any Term Benchmark Loan, any technical, administrative
or operational changes (including changes to the definition of “Alternate

 

    

     5

    

Base Rate,” the definition
of “Business Day,” the definition of “U.S. Government Securities Business Day,” the definition of “Interest
Period,” timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment,
conversion or continuation notices, length of lookback periods, the applicability of breakage provisions, and other technical, administrative
or operational matters) that the Administrative Agent, in consultation with the Company, reasonably determines may be appropriate to reflect
the adoption and implementation of such Benchmark and to permit the administration thereof by the Administrative Agent in a manner substantially
consistent with market practice (or, if the Administrative Agent reasonably determines that adoption of any portion of such market practice
is not administratively feasible or if the Administrative Agent reasonably determines that no market practice for the administration of
such Benchmark exists, in such other manner of administration as the Administrative Agent, in consultation with the Company, reasonably
determines is reasonably necessary in connection with the administration of this Agreement and the other Loan Documents).

 

“Benchmark Replacement
Date” means, with respect to any Benchmark, the earliest to occur of the following events with respect to such then-current
Benchmark:

 

(1) in the case of clause (1)
or (2) of the definition of “Benchmark Transition Event,” the later of (a) the date of the public statement or publication
of information referenced therein and (b) the date on which the administrator of such Benchmark (or the published component used in the
calculation thereof) permanently or indefinitely ceases to provide all Available Tenors of such Benchmark (or such component thereof);
or

 

(2) in the case of clause (3)
of the definition of “Benchmark Transition Event,” the first date on which such Benchmark (or the published component used
in the calculation thereof) has been determined and announced by the regulatory supervisor for the administrator of such Benchmark (or
such component thereof) to be no longer representative; provided, that such non-representativeness will be determined by reference to
the most recent statement or publication referenced in such clause (c) and even if any Available Tenor of such Benchmark (or such component
thereof) continues to be provided on such date.

 

For the avoidance of doubt,
(i) if the event giving rise to the Benchmark Replacement Date occurs on the same day as, but earlier than, the Reference Time in respect
of any determination, the Benchmark Replacement Date will be deemed to have occurred prior to the Reference Time for such determination
and (ii) the “Benchmark Replacement Date” will be deemed to have occurred in the case of clause (1) or (2) with respect to
any Benchmark upon the occurrence of the applicable event or events set forth therein with respect to all then-current Available Tenors
of such Benchmark (or the published component used in the calculation thereof).

 

“Benchmark Transition
Event” means, with respect to any Benchmark, the occurrence of one or more of the following events with respect to such then-current
Benchmark:

 

    

     6

    

(1) a public statement or publication
of information by or on behalf of the administrator of such Benchmark (or the published component used in the calculation thereof) announcing
that such administrator has ceased or will cease to provide all Available Tenors of such Benchmark (or such component thereof), permanently
or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to
provide any Available Tenor of such Benchmark (or such component thereof);

 

(2) a public statement or publication
of information by the regulatory supervisor for the administrator of such Benchmark (or the published component used in the calculation
thereof), the Federal Reserve Board, the NYFRB, the CME Term SOFR Administrator, an insolvency official with jurisdiction over the administrator
for such Benchmark (or such component), a resolution authority with jurisdiction over the administrator for such Benchmark (or such component)
or a court or an entity with similar insolvency or resolution authority over the administrator for such Benchmark (or such component),
in each case, which states that the administrator of such Benchmark (or such component) has ceased or will cease to provide all Available
Tenors of such Benchmark (or such component thereof) permanently or indefinitely; provided that, at the time of such statement or publication,
there is no successor administrator that will continue to provide any Available Tenor of such Benchmark (or such component thereof); or

 

(3) a public statement or publication
of information by the regulatory supervisor for the administrator of such Benchmark (or the published component used in the calculation
thereof) announcing that all Available Tenors of such Benchmark (or such component thereof) are no longer, or as of a specified future
date will no longer be, representative.

 

For the avoidance of doubt,
a “Benchmark Transition Event” will be deemed to have occurred with respect to any Benchmark if a public statement
or publication of information set forth above has occurred with respect to each then-current Available Tenor of such Benchmark (or the
published component used in the calculation thereof).

 

“Benchmark Unavailability
Period” means, with respect to any Benchmark, the period (if any) (x) beginning at the time that a Benchmark Replacement Date
pursuant to clauses (1) or (2) of that definition has occurred if, at such time, no Benchmark Replacement has replaced such then-current
Benchmark for all purposes hereunder and under any Loan Document in accordance with Section 2.12 and (y) ending at the time that a Benchmark
Replacement has replaced such then-current Benchmark for all purposes hereunder and under any Loan Document in accordance with Section
2.12.

 

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

 

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

 

    

     7

    

“Benefit Plan”
means any of (a) an “employee benefit plan” (as defined in ERISA) that is subject to Title I of ERISA, (b) a “plan”
as defined in Section 4975 of the Code or (c) any Person whose assets include (for purposes of ERISA Section 3(42) or otherwise for purposes
of Title I of ERISA or Section 4975 of the Code) the assets of any such “employee benefit plan” or “plan”.

 

“Board” means
the Board of Governors of the Federal Reserve System of the United States of America.

 

“Borrower”
means the Company or any Borrowing Subsidiary.

 

“Borrowing”
means Loans (including Competitive Loans and Contract Loans) of the same Class and Type, made, converted or continued on the same date
and, in the case of Term Benchmark Loans or Fixed Rate Loans, as to which a single Interest Period is in effect.

 

“Borrowing Minimum”
means US$5,000,000.

 

“Borrowing Multiple”
means US$1,000,000.

 

“Borrowing Request”
means a request by a Borrower for a Borrowing in accordance with Section 2.03.

 

“Borrowing Subsidiary”
means any Subsidiary that has been designated as such pursuant to Section 2.18 and that has not ceased to be a Borrowing Subsidiary as
provided in such Section.

 

“Borrowing Subsidiary
Agreement” means a Borrowing Subsidiary Agreement substantially in the form of Exhibit B-1.

 

“Borrowing Subsidiary
Termination” means a Borrowing Subsidiary Termination substantially in the form of Exhibit B-2.

 

“Business Day”
means any day (other than a Saturday or a Sunday) on which banks are open for business in New York City or Chicago; provided,
that in relation to Term Benchmark Loans and any interest rate settings, fundings, disbursements, settlements or payments of any such
Term Benchmark Loan, or any other dealings of such Term Benchmark Loan, any such day that is only an U.S. Government Securities Business
Day.

 

“Capital Lease Obligations”
of any Person means the obligations of such Person to pay rent or other amounts under any lease of (or other arrangement conveying the
right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as
capital leases on a balance sheet of such Person under GAAP, and the amount of such obligations shall be the capitalized amount thereof
determined in accordance with GAAP.

 

    

     8

    

“Change in Law”
means (a) the adoption of any law, rule, regulation or treaty after the date of this Agreement, (b) any change in any law, rule, regulation
or treaty or in the administration, interpretation, implementation or application thereof by any Governmental Authority after the date
of this Agreement or (c) compliance by any Lender or by any lending office of such Lender or by such Lender’s holding company
with any request, rule, guideline or directive (whether or not having the force of law) of any Governmental Authority made or issued after
the date of this Agreement; provided that notwithstanding anything herein to the contrary, no act, event or circumstance referred
to in clause (a), (b) or (c) of this definition shall be deemed to have occurred prior to the date of this Agreement as a result of the
applicable law, rule, regulation, treaty, interpretation, application, request, guideline or directive having been adopted, made or issued
under the general authority of the Dodd-Frank Wall Street Reform and Consumer Protection Act or Basel III as promulgated by the Basel
Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities.

 

“Class”,
when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are Revolving Loans,
Competitive Loans or Contract Loans.

 

“CME Term SOFR Administrator”
means CME Group Benchmark Administration Limited as administrator of the forward-looking term Secured Overnight Financing Rate (SOFR)
(or a successor administrator).

 

“Code” means
the Internal Revenue Code of 1986, as amended from time to time.

 

“Commitment”
means, with respect to each Lender, the commitment of such Lender to make Loans pursuant to Section 2.01, expressed as an amount
representing the maximum aggregate amount of such Lender’s Revolving Loan Exposure hereunder, as such commitment may be (a) reduced
from time to time pursuant to Section 2.08 and (b) reduced or increased from time to time pursuant to assignments by or to such
Lender pursuant to Section 10.04. The initial amount of each Lender’s Commitment is set forth on Schedule 2.01 or in the
Assignment and Assumption pursuant to which such Lender shall have assumed its Commitment, as applicable. The aggregate amount of the
Commitments on the date hereof is US$3,750,000,000.

 

“Company”
has the meaning assigned to such term in the heading of this Agreement.

 

“Competitive Bid”
means an offer by a Lender to make a Competitive Loan in accordance with Section 2.04.

 

“Competitive Bid Rate”
means, with respect to any Competitive Bid, the Margin or the Fixed Rate, as applicable, offered by the Lender making such Competitive
Bid.

 

“Competitive Bid Request”
means a request for Competitive Bids in accordance with Section 2.04.

 

    

     9

    

“Competitive Borrowing”
means a Borrowing comprised of Competitive Loans.

 

“Competitive Loan”
means a Loan made pursuant to Section 2.04. Each Competitive Loan shall be a Term Benchmark Loan or a Fixed Rate Loan.

 

“Competitive Loan Exposure”
means, with respect to any Lender at any time, the aggregate principal amount of the outstanding Competitive Loans of such Lender.

 

“Consolidated Net Worth”
means the shareholders’ equity of the Company, determined on a consolidated basis in accordance with GAAP.

 

“Contract Loan”
has the meaning assigned to such term in Section 2.02(e).

 

“Contract Loan Exposure”
means, with respect to any Lender at any time, the aggregate principal amount of the outstanding Contract Loans of such Lender.

 

“Control”
means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of a Person,
whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled”
have meanings correlative thereto.

 

“Corresponding Tenor”
with respect to any Available Tenor means, as applicable, either a tenor (including overnight) or an interest payment period having approximately
the same length (disregarding business day adjustment) as such Available Tenor.

 

“Daily Simple SOFR”
means, for any day (a “SOFR Rate Day”), a rate per annum equal SOFR for the day (such day “SOFR Determination
Date”) that is five U.S. Government Securities Business Day prior to (i) if such SOFR Rate Day is a U.S. Government Securities
Business Day, such SOFR Rate Day or (ii) if such SOFR Rate Day is not a U.S. Government Securities Business Day, the U.S. Government Securities
Business Day immediately preceding such SOFR Rate Day, in each case, as such SOFR is published by the SOFR Administrator on the SOFR Administrator’s
Website. Any change in Daily Simple SOFR due to a change in SOFR shall be effective from and including the effective date of such change
in SOFR without notice to the Company.

 

“Default”
means any event or condition which constitutes an Event of Default or which upon notice, lapse of time or both would, unless cured or
waived, constitute an Event of Default.

 

“Defaulting Lender”
means any Lender that (a) has failed, within two Business Days of the date required to be funded or paid, to (i) fund any portion of its
Loans or (ii) pay over to the Administrative Agent or any other Lender any other amount required to be paid by it hereunder, unless, in
the case of clause (i) above, it notifies the Administrative Agent in writing that such failure is the result of its good faith determination
that a condition precedent to funding (specifically identified and including the particular default, if any) has not been satisfied, (b)
has notified the Company, any other Borrower

 

    

     10

    

or the Administrative Agent
in writing, or has made a public statement to the effect, that it does not intend or expect to comply with any of its funding obligations
under this Agreement (unless such writing or public statement indicates that such position is based on its good faith determination that
a condition precedent (specifically identified and including the particular default, if any) to funding a Loan under this Agreement cannot
be satisfied) or generally under other agreements in which it commits to extend credit, (c) has failed, within three Business Days after
request by the Administrative Agent, acting in good faith, to provide a certification in writing from an authorized officer thereof that
it will comply with its obligations (and is financially able to meet such obligations) to fund Loans under this Agreement, provided
that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon the receipt by the Administrative Agent of such
certification in form and substance satisfactory to the Administrative Agent, or (d) has become the subject of a Bankruptcy Event or a
Bail-In Action (as defined in Section 10.17).

 

“Effective Date”
means the date on which the conditions specified in Section 4.01 are satisfied (or waived in accordance with Section 10.02).

 

“Electronic Signature”
means an electronic sound, symbol, or process attached to, or associated with, a contract or other record and adopted by a Person with
the intent to sign, authenticate or accept such contract or record.

 

“Eligible Assignee”
means (a) a Lender, (b) an Affiliate of a Lender and (c) any other Person, other than, in each case, (i) a natural person (or a holding
company, investment vehicle or trust for, or owned and operated for the primary benefit of, a natural person), (ii) a Defaulting Lender,
(iii) the Company or any of its Affiliates or (iv) a Sanctioned Person.

 

“Environmental Laws”
means all laws, rules, regulations, codes, ordinances, orders, decrees, judgments, injunctions, notices or binding agreements issued,
promulgated or entered into by any Governmental Authority, relating in any way to the environment, preservation or reclamation of natural
resources, the management, release or threatened release of any Hazardous Material or to health and safety matters.

 

“Environmental Liability”
means any liability, contingent or otherwise (including any liability for damages, costs of environmental remediation, fines, penalties
or indemnities), of any of the Borrowers or any of their Subsidiaries directly or indirectly resulting from or based upon (a) violation
of any Environmental Law, (b) the generation, use, handling, transportation, storage, treatment or disposal of any Hazardous Materials,
(c) exposure to any Hazardous Materials, (d) the release or threatened release of any Hazardous Materials into the environment
or (e) any contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of
the foregoing.

 

“ERISA” means
the Employee Retirement Income Security Act of 1974.

 

“ERISA Affiliate”
means any trade or business (whether or not incorporated) that, together with the Company, is treated as a single employer under

 

    

     11

    

Section 414(b) or (c) of
the Code or, solely for purposes of Section 302 of ERISA and Section 412 of the Code, is treated as a single employer under Section 414
of the Code.

 

“ERISA Event”
means (a) any “reportable event”, as defined in Section 4043 of ERISA or the regulations issued thereunder with
respect to a Plan (other than an event for which the 30 day notice period is waived); (b) any failure by any Plan to satisfy the
minimum funding standard (within the meaning of Section 412 of the Code or Section 302 of ERISA) applicable to such Plan, in each
case whether or not waived; (c) the filing pursuant to Section 412(c) of the Code or Section 302(c) of ERISA of an application
for a waiver of the minimum funding standard with respect to any Plan; (d) the incurrence by the Company or any ERISA Affiliate of
any liability under Title IV of ERISA with respect to the termination of any Plan; (e) the receipt by the Company or any ERISA
Affiliate from the PBGC or a plan administrator of any notice relating to an intention to terminate any Plan or Plans or to appoint a
trustee to administer any Plan; (f) the incurrence by the Company or any ERISA Affiliate of any liability with respect to the withdrawal
or partial withdrawal from any Plan or Multiemployer Plan; (g) the receipt by the Company or any ERISA Affiliate of any notice, or
the receipt by any Multiemployer Plan from the Company or any ERISA Affiliate of any notice, concerning the imposition of Withdrawal Liability
or a determination that a Multiemployer Plan is, or is expected to be, insolvent, within the meaning of Title IV of ERISA, or in
endangered or critical status, within the meaning of Section 305 of ERISA; or (h) a determination that any Plan is, or is expected
to be, in “at-risk” status (as defined in Section 303(i)(4) of ERISA or Section 430(i)(4) of the Code).

 

“Event of Default”
has the meaning assigned to such term in Article VII.

 

“Excluded Taxes”
means, with respect to the Administrative Agent, any Lender or any other recipient of any payment to be made by or on account of any Obligation
hereunder, (a) income or franchise Taxes imposed on (or measured by) its net income by the United States of America (or any political
subdivision thereof), or by the jurisdiction under which such recipient is organized or in which its principal office or any lending office
from which it makes Loans hereunder is located, (b) any branch profit Taxes imposed by the United States of America or any similar Tax
imposed by any other jurisdiction described in clause (a) above, (c) except in the case of an assignee pursuant to a request by the Company
under Section 2.17(b), any withholding Tax that is imposed by the United States of America (or any political subdivision thereof) on payments
by a Borrower from an office within such jurisdiction to the extent such Tax is in effect and would apply as of the date such Lender
becomes a party to this Agreement or relates to payments received by a new lending office designated by such Lender and is in effect and
would apply at the time such lending office is designated, (d) any withholding Taxes imposed by the United States of America pursuant
to FATCA and (e) any withholding Tax that is attributable to such Lender’s failure to comply with Section 2.15(f),
except, in the case of clause (c) above, to the extent that (i) such Lender (or its assignor, if any) was entitled, at the time of designation
of a new lending office (or assignment), to receive additional amounts with respect to such withholding Tax pursuant to Section 2.15
or (ii) such withholding Tax shall have resulted from the making of any payment to a location

 

    

     12

    

other than the office designated
by the Administrative Agent or such Lender for the receipt of payments of the applicable type.

 

“Existing Credit Agreement”
has the meaning assigned to such term in the introductory statement.

 

“Exposure”
means, with respect to any Lender at any time, such Lender’s Revolving Loan Exposure, Competitive Loan Exposure and Contract Loan
Exposure at such time.

 

“FATCA” means
Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version that is substantively comparable
and not materially more onerous to comply with), and any current or future regulations or official interpretations thereof.

 

“FCPA” means
the United States Foreign Corrupt Practices Act of 1977.

 

“Federal Funds Effective
Rate” means, for any day, the rate calculated by the NYFRB based on such day’s federal funds transactions by depository
institutions, as determined in such manner as shall be set forth on the NYFRB’s Website from time to time, and published on the
next succeeding Business Day by the NYFRB as the effective federal funds rate; provided that if the Federal Funds Effective Rate
as so determined would be less than 0.00%, such rate shall be deemed to be 0.00% for purposes of this Agreement.

 

“Financial Officer”
means the chief financial officer, principal accounting officer, treasurer or controller of the Company.

 

“Fixed Rate”
means, with respect to any Competitive Loan (other than a Term Benchmark Competitive Loan), the fixed rate of interest per annum specified
by the Lender making such Competitive Loan in its related Competitive Bid.

 

“Fixed Rate Loan”
means a Competitive Loan bearing interest at a Fixed Rate.

 

“Floor” means
the benchmark rate floor, if any, provided in this Agreement initially (as of the execution of this Agreement, the modification, amendment
or renewal of this Agreement or otherwise) with respect to the Adjusted Term SOFR Rate or the Adjusted Daily Simple SOFR, as applicable.
For the avoidance of doubt the initial Floor for each of Adjusted Term SOFR Rate or the Adjusted Daily Simple SOFR shall be 0.00%.

 

“GAAP” means
generally accepted accounting principles in the United States of America.

 

“Governmental Authority”
means any nation or government, any federal, state, local or other political subdivision thereof and any entity exercising executive,
legislative, judicial, taxing, regulatory or administrative functions of or pertaining to government (including any applicable supranational
bodies such as, without limitation, the European Union, the European Central Bank, the Bank for International Settlements and

 

    

     13

    

the Basel Committee on Banking
Supervision or any successor or similar authority to any of the foregoing).

 

“Guarantee”
of or by any Person (the “guarantor”) means any obligation, contingent or otherwise, of the guarantor guaranteeing
or having the economic effect of guaranteeing any Indebtedness or other obligation of any other Person (the “primary obligor”)
in any manner, whether directly or indirectly, and including any obligation of the guarantor, direct or indirect, (a) to purchase
or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation or to purchase (or to advance
or supply funds for the purchase of) any security for the payment thereof, (b) to purchase or lease property, securities or services
for the purpose of assuring the owner of such Indebtedness or other obligation of the payment thereof, (c) to maintain working capital,
equity capital or any other financial statement condition or liquidity of the primary obligor so as to enable the primary obligor to pay
such Indebtedness or other obligation or (d) as an account party in respect of any letter of credit or letter of guaranty issued to support
such Indebtedness or obligation; provided, that the term Guarantee shall not include endorsements for collection or deposit in
the ordinary course of business.

 

“Hazardous Materials”
means all explosive or radioactive substances or wastes and all hazardous or toxic substances, wastes or other pollutants, including petroleum
or petroleum distillates, asbestos or asbestos-containing materials, polychlorinated biphenyls, radon gas, infectious or medical wastes
and all other substances or wastes of any nature regulated pursuant to any Environmental Law.

 

“Hedging Agreement”
means any interest rate protection agreement, foreign currency exchange agreement, commodity price protection agreement or other interest
or currency exchange rate or commodity price hedging arrangement.

 

“Indebtedness”
of any Person means, without duplication, (a) all obligations of such Person for borrowed money or with respect to deposits or advances
of any kind, (b) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, (c) all obligations
of such Person upon which interest charges are customarily paid, (d) all obligations of such Person under conditional sale or other
title retention agreements relating to property acquired by such Person, (e) all obligations of such Person in respect of the deferred
purchase price of property or services (excluding current accounts payable incurred in the ordinary course of business), (f) all
Indebtedness of others secured by (or for which the holder of such Indebtedness has an existing right, contingent or otherwise, to be
secured by) any Lien on property owned or acquired by such Person, whether or not the Indebtedness secured thereby has been assumed, (g) all
Guarantees by such Person of Indebtedness of others, (h) all Capital Lease Obligations of such Person, (i) all obligations,
contingent or otherwise, of such Person as an account party in respect of letters of credit and letters of guaranty and (j) all obligations,
contingent or otherwise, of such Person in respect of bankers’ acceptances. The Indebtedness of any Person shall include the Indebtedness
of any other entity (including any partnership in which such Person is a general partner) to the extent such Person is liable therefor
as a result of such Person’s ownership interest in or other relationship with such entity, except to the extent the terms of such
Indebtedness provide that such Person is not liable therefor.

 

    

     14

    

“Indemnified Taxes”
means Taxes other than Excluded Taxes.

 

“Interest Election
Request” means a request by the relevant Borrower to convert or continue a Borrowing in accordance with Section 2.07.

 

“Interest Payment Date”
means (a) with respect to any ABR Loan, the last day of each March, June, September and December, (b) with respect to any Term Benchmark
Loan, the last day of the Interest Period applicable to the Borrowing of which such Loan is a part, (c) with respect to any Fixed
Rate Loan, the last day of the Interest Period applicable to the Borrowing of which such Loan is a part, and any other dates specified
in the applicable Competitive Bid Request as Interest Payment Dates with respect to such Borrowing and (d) with respect to any Contract
Loan, the date or dates agreed upon by the relevant Borrower and the applicable Lender or, if no such dates shall have been agreed upon,
the last day of each March, June, September and December.

 

“Interest Period”
means, (a) with respect to any Term Benchmark Borrowing, the period commencing on the date of such Borrowing and ending on the numerically
corresponding day in the calendar month that is one or three months thereafter (in each case, subject to the availability for the Benchmark
applicable to the relevant Loan or Commitment), as the Borrower may elect, (b) with respect to any Fixed Rate Borrowing, the period (which
shall not be less than seven days or more than 360 days) commencing on the date of such Borrowing and ending on the date specified in
the applicable Competitive Bid Request and (c) with respect to any Contract Loan, the period commencing on the date of such Borrowing
and ending on the date agreed upon by the relevant Borrower and the applicable Lender; provided, that (i) if any Interest
Period would end on a day other than a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless,
in the case of a Term Benchmark Borrowing only, such next succeeding Business Day would fall in the next calendar month, in which case
such Interest Period shall end on the next preceding Business Day, (ii) any Interest Period pertaining to a Term Benchmark Borrowing
that commences on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the last
calendar month of such Interest Period) shall end on the last Business Day of the last calendar month of such Interest Period and (iii)
in the case of a Term Benchmark Borrowing, no tenor that has been removed from this definition pursuant to Section 2.12(e) shall be available
for any Borrowing. For purposes hereof, the date of a Borrowing initially shall be the date on which such Borrowing is made and thereafter
shall be the effective date of the most recent conversion or continuation of such Borrowing.“JPMCB” means JPMorgan
Chase Bank, N.A. and its successors.

 

“Judgment Currency”
has the meaning assigned to such term in Section 10.13(b).

 

“Lender-Related Person”
has the meaning assigned to such term in Section 10.03(a).

 

“Lenders”
means the Persons listed on Schedule 2.01 and any other Person that shall have become a party hereto pursuant to an Assignment and
Assumption, other

 

    

     15

    

than any such Person that shall
have ceased to be a party hereto pursuant to an Assignment and Assumption.

 

“Liabilities”
means any losses, claims (including intraparty claims), demands, damages or liabilities of any kind.

 

“Lien” means,
with respect to any asset, (a) any mortgage, deed of trust, lien, pledge, hypothecation, encumbrance, charge or security interest
in, on or of such asset, (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease or title retention
agreement (or any financing lease having substantially the same economic effect as any of the foregoing) relating to such asset and (c) in
the case of securities, any purchase option, call or similar right of a third party with respect to such securities.

 

“Loan Documents”
means this Agreement, each Borrowing Subsidiary Agreement, each Borrowing Subsidiary Termination and each promissory note delivered pursuant
to this Agreement.

 

“Loans” means
the loans made by the Lenders to the Borrowers pursuant to this Agreement.

 

“Margin”
means, with respect to any Competitive Loan bearing interest at a rate based on the Adjusted Term SOFR Rate, the marginal rate of interest,
if any, to be added to or subtracted from the Adjusted Term SOFR Rate to determine the rate of interest applicable to such Loan, as specified
by the Lender making such Loan in its related Competitive Bid.

 

“Material Adverse Effect”
means a material adverse effect on (a) the business, assets, operations, prospects or condition, financial or otherwise, of the Company
and its Subsidiaries taken as a whole, (b) the ability of the Company to perform any of its obligations under this Agreement or (c) the
rights of or benefits available to the Lenders under this Agreement.

 

“Material Indebtedness”
means Indebtedness (other than the Loans), or obligations in respect of one or more Hedging Agreements, of the Company and its Subsidiaries
in an aggregate principal amount exceeding US$250,000,000. For purposes of determining Material Indebtedness, the “principal amount”
of the obligations of any Borrower or any Subsidiary in respect of any Hedging Agreement at any time shall be the maximum aggregate amount
(giving effect to any netting agreements) that such Borrower or Subsidiary would be required to pay if such Hedging Agreement were terminated
at such time.

 

“Material Subsidiary”
means (a) any Subsidiary that is a Borrower, (b) any Subsidiary that directly or indirectly owns or Controls any Material Subsidiary and
(c) any other Subsidiary (i) the consolidated revenues of which for the most recent period of four fiscal quarters of the Company
for which audited financial statements have been delivered pursuant to Section 5.01 were greater than 10% of the Company’s consolidated
revenues for such period or (ii) the consolidated assets of which as of the end of such period were greater than 10% of the Company’s
consolidated assets as of such date; provided that if at

 

    

     16

    

any time the aggregate consolidated
revenues or assets of all Subsidiaries that are not Material Subsidiaries for or at the end of any period of four fiscal quarters exceeds
10% of the Company’s consolidated revenues for such period or 10% of the Company’s consolidated assets as of the end of such
period, the Company shall (or, in the event the Company has failed to do so within 10 days, the Administrative Agent may) designate
sufficient Subsidiaries as “Material Subsidiaries” to eliminate such excess, and such designated Subsidiaries shall for all
purposes of this Agreement constitute Material Subsidiaries. For purposes of making the determinations required by this definition, revenues
and assets of foreign Subsidiaries shall be converted into US Dollars at the rates used in preparing the consolidated balance sheet of
the Company included in the applicable financial statements.

 

“Maturity Date”
means the Termination Date or any later date to which the Maturity Date shall have been extended pursuant to Section 2.06(f).

 

“Multiemployer Plan”
means a multiemployer plan as defined in Section 4001(a)(3) of ERISA.

 

“Notice of Illegality”
has the meaning assigned to such term in Section 2.18.

 

“NYFRB” means
the Federal Reserve Bank of New York.

 

“NYFRB Rate”
means, for any day, the greater of (a) the Federal Funds Effective Rate in effect on such day and (b) the Overnight Bank Funding Rate
in effect on such day (or for any day that is not a Business Day, for the immediately preceding Business Day); provided that if
none of such rates are published for any day that is a Business Day, the term “NYFRB Rate” means the rate for a federal funds
transaction quoted at 11:00 a.m. on such day received by the Administrative Agent from a federal funds broker of recognized standing selected
by it; provided, further, that if any of the aforesaid rates as so determined be less than 0.00%, such rate shall be deemed to be 0.00%
for purposes of this Agreement.

 

“NYFRB’s Website”
means the website of the NYFRB at http://www.newyorkfed.org, or any successor source.

 

“Obligations”
means the due and punctual payment of (i) the principal of and premium, if any, and interest (including interest accruing during the pendency
of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding)
on the Loans made to any Borrower, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or
otherwise and (ii) all other monetary obligations, including fees, costs, expenses and indemnities, whether primary, secondary, direct,
contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership
or other similar proceeding, regardless of whether allowed or allowable in such proceeding), of the Borrowers under this Agreement and
the other Loan Documents.

 

“Other Taxes”
means any and all present or future recording, stamp, documentary, excise, transfer, sales, property or similar taxes, charges or levies
arising

 

    

     17

    

from any payment made hereunder
or under any other Loan Document or from the execution, delivery or enforcement of, or otherwise with respect to, this Agreement or any
other Loan Document.

 

“Overnight Bank Funding
Rate” means, for any day, the rate comprised of both overnight federal funds and overnight eurodollar transactions denominated
in US Dollars by U.S.-managed banking offices of depository institutions, as such composite rate shall be determined by the NYFRB as set
forth on the NYFRB’s Website from time to time, and published on the next succeeding Business Day by the NYFRB as an overnight bank
funding rate.

 

“Participant”
has the meaning assigned to such term in Section 10.04(e).

 

“Participant Register”
has the meaning assigned to such term in Section 10.04(h).

 

“Patriot Act”
has the meaning assigned to such term in Section 10.15.

 

“Payment”
has the meaning assigned to such term in Article VIII.

 

“Payment Notice”
has the meaning assigned to such term in Article VIII.

 

“PBGC” means
the Pension Benefit Guaranty Corporation referred to and defined in ERISA and any successor entity performing similar functions.

 

“Percentage”
means, with respect to any Lender, the percentage of the total Commitments represented by such Lender’s Commitment. If the Commitments
have terminated or expired, the Percentages shall be determined based upon the Commitments most recently in effect, giving effect to any
assignments.

 

“Permitted Encumbrances”
means:

 

(a)
Liens imposed by law for taxes that are not yet due or are being contested in compliance with Section 5.04;

 

(b)
carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s and other like Liens imposed by
law, arising in the ordinary course of business and securing obligations that are not overdue by more than 30 days or are being contested
in good faith;

 

(c)
pledges and deposits made in the ordinary course of business in compliance with workers’ compensation, unemployment insurance
and other social security laws or regulations;

 

(d)
deposits to secure the performance of bids, trade contracts, leases, statutory obligations, surety and appeal bonds, performance
bonds and other obligations of a like nature, in each case in the ordinary course of business;

 

    

     18

    

(e)
judgment liens; and

 

(f)
easements, zoning restrictions, rights-of-way and similar encumbrances on real property imposed by law or arising in the ordinary
course of business that do not secure any monetary obligations and do not materially detract from the value of the affected property or
interfere with the ordinary conduct of business of any of the Borrowers or any of their Subsidiaries;

 

provided that the term “Permitted
Encumbrances” shall not include any Lien securing Indebtedness or any Lien in favor of the PBGC.

 

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

 

“Plan” means
any employee pension benefit plan (other than a Multiemployer Plan) subject to the provisions of Title IV of ERISA or Section 412
of the Code or Section 302 of ERISA, and in respect of which any of the Borrowers or any ERISA Affiliate is (or, if such plan were
terminated, would under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of ERISA.

 

“Prime Rate”
means the rate of interest last quoted by The Wall Street Journal as the “Prime Rate” in the U.S. or, if The Wall Street Journal
ceases to quote such rate, the highest per annum interest rate published by the Federal Reserve Board in Federal Reserve Statistical Release
H.15 (519) (Selected Interest Rates) as the “bank prime loan” rate or, if such rate is no longer quoted therein, any similar
rate quoted therein (as determined by the Administrative Agent) or any similar release by the Federal Reserve Board (as determined by
the Administrative Agent). Each change in the Prime Rate shall be effective from and including the date such change is publicly announced
or quoted as being effective.

 

“PTE” means
a prohibited transaction class exemption issued by the U.S. Department of Labor, as any such exemption may be amended from time to time.

 

“Reference Time”
with respect to any setting of the then-current Benchmark means (1) if such Benchmark is the Term SOFR Rate, 5:00 a.m. (Chicago time)
on the day that is two Business Days preceding the date of such setting or (2) if such Benchmark is not the Term SOFR Rate, the time determined
by the Administrative Agent in its reasonable discretion.

 

“Register”
has the meaning assigned to such term in Section 10.04.

 

“Related Fund”
means, with respect to any Lender that is a fund that invests in bank loans, any other fund that invests in bank loans and is managed
by the same investment advisor as such Lender or by an Affiliate of such investment advisor.

 

    

     19

    

“Related Parties”
means, with respect to any specified Person, such Person’s Affiliates and the respective directors, officers, employees, trustees,
agents and advisors of such Person and such Person’s Affiliates.

 

“Relevant Governmental
Body” means the Board and/or the NYFRB, or a committee officially endorsed or convened by the Board and/or the NYFRB or, in
each case, any successor thereto.

 

“Required Lenders”
means, at any time, Lenders having unused Commitments and Revolving Loan Exposures representing more than 50% of the aggregate total unused
Commitments and Revolving Loan Exposures at such time; provided that, for purposes of declaring the Loans to be due and payable
pursuant to Article VII, and for all purposes after the Loans become due and payable pursuant to Article VII or the Commitments expire
or terminate, the outstanding Competitive Loans and Contract Loans of the Lenders shall be included in their respective Revolving Loan
Exposures in determining the Required Lenders.

 

“Revolving Borrowing”
means a Borrowing comprised of Revolving Loans.

 

“Revolving Loan”
means a Loan made by a Lender pursuant to Section 2.01. Each Revolving Loan shall be a Term Benchmark Loan or an ABR Loan.

 

“Revolving Loan Exposure”
means, at any time, the aggregate principal amount of the Revolving Loans outstanding at such time. The Revolving Loan Exposure of any
Lender at any time shall be such Lender’s Percentage of the total Revolving Loan Exposure at such time.

 

“Sale and Leaseback
Transaction” means any arrangement whereby the Company or a Subsidiary, directly or indirectly, shall sell or transfer any property,
real or personal, used or useful in its business, whether now owned or hereafter acquired, and thereafter rent or lease such property
or other property which it intends to use for substantially the same purpose or purposes as the property being sold or transferred.

 

“Sanction Laws”
means laws and executive orders of the United States of America, the United Nations Security Council, the European Union or Her Majesty’s
Treasury of the United Kingdom imposing economic or financial sanctions or trade embargoes, and regulations implementing such laws and
executive orders.

 

“Sanctioned Country”
means, at any time, a country, region or territory which is the subject or target of any Sanction Laws that are applicable to transactions
with such country or Persons operating, organized or resident therein generally (and not merely to transactions with specifically designated
Persons operating, organized or resident therein). On the date hereof, the Sanctioned Countries are the Crimea Region of Ukraine, the
so-called Donetsk People’s Republic, the so-called Luhansk People’s Republic, Cuba, Iran, North Korea and Syria.

 

    

     20

    

“Sanctioned Person”
means (a) any Person on the list of Specially Designated Nationals and Blocked Persons maintained by the Office of Foreign Assets Control
of the U.S. Department of Treasury or on any other list maintained by any Governmental Authority under applicable Sanction Laws, (b) any
Person operating, organized or resident in a Sanctioned Country with whom the Company is prohibited from doing business as a result of
applicable Sanction Laws, or (c) any Person who is, to the Company’s knowledge, owned or controlled by any Person or Persons described
in the preceding clauses (a) and (b).

 

“SOFR” means
a rate equal to the secured overnight financing rate as administered by the SOFR Administrator.

 

“SOFR Administrator”
means the NYFRB (or a successor administrator of the secured overnight financing rate).

 

“SOFR Administrator’s
Website” means the NYFRB’s website, currently at http://www.newyorkfed.org, or any successor source for the secured overnight
financing rate identified as such by the SOFR Administrator from time to time.

 

“Statutory Reserves”
means any reserve, liquid asset or similar requirements established by any Governmental Authority of the United States to which banks
in such jurisdiction are subject for any category of deposits or liabilities customarily used to fund loans in US Dollars or by reference
to which interest rates applicable to Loans are determined.

 

“subsidiary”
means, with respect to any Person, any entity with respect to which such Person alone owns, such Person or one or more of its subsidiaries
together own, or such Person and any Person Controlling such Person together own, in each case directly or indirectly, capital stock or
other equity interests having ordinary voting power to elect a majority of the members of the Board of Directors of such corporation or
other entity or having a majority interest in the capital or profits of such corporation or other entity.

 

“Subsidiary”
means any subsidiary of the Company.

 

“Taxes” means
any and all present or future taxes, levies, imposts, duties, deductions, charges or withholdings imposed by any Governmental Authority.

 

“Term Benchmark”
when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are bearing interest
at a rate determined by reference to the Adjusted Term SOFR Rate.

 

“Term SOFR Determination
Day” has the meaning assigned to it under the definition of Term SOFR Reference Rate.

 

“Term SOFR Rate”
means, with respect to any Term Benchmark Borrowing and for any tenor comparable to the applicable Interest Period, the Term SOFR Reference
Rate at approximately 5:00 a.m., Chicago time, two U.S. Government Securities

 

    

     21

    

Business Days prior to the commencement
of such tenor comparable to the applicable Interest Period, as such rate is published by the CME Term SOFR Administrator.

 

“Term SOFR Reference
Rate” means, for any day and time (such day, the “Term SOFR Determination Day”), with respect to any Term
Benchmark Borrowing and for any tenor comparable to the applicable Interest Period, the rate per annum determined by the Administrative
Agent as the forward-looking term rate based on SOFR. If by 5:00 pm (New York City time) on such Term SOFR Determination Day, the “Term
SOFR Reference Rate” for the applicable tenor has not been published by the CME Term SOFR Administrator and a Benchmark Replacement
Date with respect to the Term SOFR Rate has not occurred, then the Term SOFR Reference Rate for such Term SOFR Determination Day will
be the Term SOFR Reference Rate as published in respect of the first preceding U.S. Government Securities Business Day for which such
Term SOFR Reference Rate was published by the CME Term SOFR Administrator, so long as such first preceding Business Day is not more than
five Business Days prior to such Term SOFR Determination Day.

 

“Termination Date”
means June 30, 2023.

 

“Transactions”
means the execution, delivery and performance by the Company and the other Borrowers of the Loan Documents, the borrowing of Loans hereunder
and the use of the proceeds thereof.

 

“Type”, when
used in reference to any Loan or Borrowing, refers to whether the rate of interest on such Loan, or on the Loans comprising such Borrowing,
is determined by reference to the Adjusted Term SOFR Rate, the Alternate Base Rate or a Fixed Rate.

 

“Unadjusted Benchmark
Replacement” means the Benchmark Replacement excluding the Benchmark Replacement Adjustment; provided that, if the Unadjusted
Benchmark Replacement as so determined would be less than zero, the Unadjusted Benchmark Replacement will be deemed to be zero for the
purposes of this Agreement.

 

“US Dollars”
or “US $” means the lawful money of the United States of America.

 

“U.S. Government Securities
Business Day” means any day except for (a) a Saturday, (b) a Sunday or (c) a day on which the Securities Industry and Financial
Markets Association recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in
United States government securities.

 

“Withdrawal Liability”
means liability to a Multiemployer Plan as a result of a complete or partial withdrawal from such Multiemployer Plan, as such terms are
defined in Part I of Subtitle E of Title IV of ERISA.

 

“Withholding Agent”
means any Borrower and the Administrative Agent.

 

    

     22

    

SECTION
1.02. Classification of Loans and Borrowings. For purposes of this Agreement, Loans may be classified and referred to by
Class (e.g., a “Revolving Loan”) or by Type (e.g., a “Term Benchmark Loan”) or by Class and Type
(e.g., a “Term Benchmark Revolving Loan”). Borrowings also may be classified and referred to by Class (e.g.,
a “Revolving Borrowing”) or by Type (e.g., a “ Term Benchmark Borrowing”) or by Class and Type (e.g.,
a “Term Benchmark Revolving Borrowing”).

 

SECTION
1.03. 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), (b) any definition of or reference to
any statute, rule or regulation shall be construed as referring thereto as from time to time amended, supplemented or otherwise modified
(including by succession of comparable successor laws), (c) any reference herein to any Person shall be construed to include such Person’s
successors and assigns, (d) 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, (e) all references herein to
Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to, this
Agreement, (f) 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 and (g) any
definition of or reference to any statute, rule or regulation shall be construed as referring thereto as from time to time amended, supplemented
or otherwise modified (including by succession of comparable successor law).

 

SECTION
1.04. Accounting Terms; GAAP. Except as otherwise expressly provided herein, all terms of an accounting or financial nature
shall be construed in accordance with GAAP as in effect from time to time; provided that if the Company notifies the Administrative
Agent that the Company requests an amendment to any provision hereof to eliminate the effect of any change occurring after the date hereof
in GAAP or in the application thereof on the operation of such provision (or if the Administrative Agent notifies the Company that the
Required Lenders request an amendment to any provision hereof for such purpose), regardless of whether any such notice is given before
or after such change in GAAP or in the application thereof, then such provision shall be interpreted on the basis of GAAP as in effect
and applied immediately before such change shall have become effective until such notice shall have been withdrawn or such provision amended
in accordance herewith.

 

SECTION
1.05. Divisions. For all purposes under the Loan Documents, in connection with any division or plan of division under Delaware
law (or any comparable event under a different jurisdiction’s laws), if any asset, right, obligation or liability of any

 

    

     23

    

Person becomes the asset, right,
obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent
Person, and if any new Person comes into existence, such new Person shall be deemed to have been organized on the first date of its existence
by the holders of its equity interests at such time.

 

SECTION
1.06. Interest Rates; Benchmark Notification. The interest rate on a Loan may be derived from an interest rate benchmark
that may be discontinued or is, or may in the future become, the subject of regulatory reform. Upon the occurrence of a Benchmark Transition
Event, Section 2.12(b) provides a mechanism for determining an alternative rate of interest. The Administrative Agent does not warrant
or accept any responsibility for, and shall not have any liability with respect to, the administration, submission, performance or any
other matter related to any interest rate used in this Agreement, or with respect to any alternative or successor rate thereto, or replacement
rate thereof, including without limitation, whether the composition or characteristics of any such alternative, successor or replacement
reference rate will be similar to, or produce the same value or economic equivalence of, the existing interest rate being replaced or
have the same volume or liquidity as did any existing interest rate prior to its discontinuance or unavailability. The Administrative
Agent and its affiliates and/or other related entities may engage in transactions that affect the calculation of any interest rate used
in this Agreement or any alternative, successor or alternative rate (including any Benchmark Replacement) and/or any relevant adjustments
thereto, in each case, in a manner adverse to the Company. The Administrative Agent may select information sources or services in its
reasonable discretion to ascertain any interest rate used in this Agreement, any component thereof, or rates referenced in the definition
thereof, in each case pursuant to the terms of this Agreement, and shall have no liability to the Company, any Lender or any other person
or entity for damages of any kind, including direct or indirect, special, punitive, incidental or consequential damages, costs, losses
or expenses (whether in tort, contract or otherwise and whether at law or in equity), for any error or calculation of any such rate (or
component thereof) provided by any such information source or service.

 

ARTICLE
II

The Credits

 

SECTION
2.01. Commitments. Subject to the terms and conditions set forth herein, each Lender severally agrees to make Revolving
Loans to the Company and the Borrowing Subsidiaries from time to time during the Availability Period in US Dollars in an aggregate principal
amount at any time outstanding that will not result in (i) such Lender’s Revolving Loan Exposure exceeding its Commitment or (ii)
the aggregate Exposures exceeding the aggregate Commitments.

 

SECTION
2.02. Loans and Borrowings. (a) Each Revolving Loan shall be made as part of a Borrowing consisting of Revolving Loans
made by the Lenders (or their Affiliates as provided in paragraph (b) below) ratably in accordance with their respective
Commitments. Each Competitive Loan shall be made in accordance with the procedures set forth in Section 2.04. Each Contract
Loan shall be made in accordance with the procedures set forth in paragraph (e) below. The failure of any Lender to make any
Loan

 

    

     24

    

required to be made by it shall
not relieve any other Lender of its obligations hereunder; provided that the Commitments of the Lenders are several and no Lender
shall be responsible for any other Lender’s failure to make Loans as required hereunder.

 

(b)
Subject to Section 2.12, (i) each Revolving Borrowing shall be comprised entirely of Term Benchmark Loans or ABR Loans as
the applicable Borrower may request in accordance herewith and (ii) each Competitive Borrowing shall be comprised entirely of Term Benchmark
Loans or Fixed Rate Loans, as the applicable Borrower may request in accordance herewith. Each Lender at its option may make any Loan
by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan (and in the case of an Affiliate, the provisions
of Sections 2.12, 2.13, 2.14 and 2.15 shall apply to such Affiliate to the same extent as to such Lender); provided that any
exercise of such option shall not affect the obligation of the applicable Borrower to repay such Loan in accordance with the terms of
this Agreement. Notwithstanding any other provision of this Agreement, the Borrowers shall not be responsible under Section 2.13 or 2.15
for any increased costs incurred by a Lender as a result of a change in the location from which such Lender makes Loans unless such Lender
is legally required to make such change.

 

(c)
At the commencement of each Interest Period for any Borrowing (other than a Borrowing comprised of Competitive Loans or Contract
Loans), such Borrowing shall be in an aggregate amount that is at least equal to the Borrowing Minimum and an integral multiple of the
Borrowing Multiple; provided that an ABR Borrowing may be made in an aggregate amount that is equal to the aggregate available
Commitments. Borrowings of more than one Type and Class may be outstanding at the same time; provided that there shall not at any
time be more than a total of five Term Benchmark Revolving Borrowings outstanding.

 

(d)
Notwithstanding any other provision of this Agreement, no Borrower shall be entitled to request, or to elect to convert or continue,
any Borrowing if the Interest Period requested with respect thereto would end after the Maturity Date.

 

(e)
At any time, any Borrower and any Lender may agree that such Lender will make a Loan (a “Contract Loan”) to
the Borrower denominated in US Dollars and bearing interest at an agreed upon rate, for an interest period to be agreed upon and upon
such other terms as the applicable Borrower and Lender may agree (it being understood that a Contract Loan shall not be required to be
in any particular minimum amount); provided, that, (i) after giving effect to the making of any such Contract Loan, the aggregate
Exposures shall not exceed the aggregate Commitments and (ii) no such Loan shall be a Contract Loan unless the relevant Borrower and the
applicable Lender expressly agree at the time such Loan is made, and notify the Administrative Agent, that such Loan shall be a Contract
Loan for purposes of this Agreement. If the applicable Borrower and Lender shall, after any Contract Loan is made, agree that such Contract
Loan shall no longer be a Contract Loan hereunder and shall notify the Administrative Agent of such agreement, such Loan shall, as of
the date of such agreement, cease to be a Contract Loan or to be entitled to any further benefits under this Agreement. Contract Loans
shall be deemed Loans for all purposes under this Agreement. Each Borrower and Lender shall promptly

 

    

     25

    

notify the Administrative Agent
of (i) the date, principal amount, maturity, interest rate, Interest Period and Interest Payment Dates of each Contract Loan made by such
Lender to such Borrower and (ii) the date and amount of any repayment or prepayment of any such Contract Loan.

 

SECTION
2.03. Requests for Revolving Borrowings. To request a Revolving Borrowing, the applicable Borrower, or the Company on behalf
of the applicable Borrower, shall notify the Administrative Agent of such request by telephone (a) in the case of a Term Benchmark
Borrowing, not later than 2:00 p.m., New York City time, three Business Days before the date of the proposed Borrowing and (b)
in the case of an ABR Borrowing, not later than 2:00 p.m., New York City time, on the date of the proposed Borrowing. Each such telephonic
Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written
Borrowing Request in a form approved by the Administrative Agent and signed by the applicable Borrower, or by the Company on behalf of
the applicable Borrower. Each such telephonic and written Borrowing Request shall specify the following information in compliance with
Section 2.02:

 

(i)
the Borrower requesting such Borrowing (or on whose behalf the Company is requesting such Borrowing);

 

(ii)
the aggregate principal amount of the requested Borrowing;

 

(iii)
the date of the requested Borrowing, which shall be a Business Day;

 

(iv)
the Type of the requested Borrowing;

 

(v)
in the case of a Term Benchmark Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated
by the definition of the term “Interest Period”; and

 

(vi)
the location and number of the relevant Borrower’s account to which funds are to be disbursed, which shall comply with the
requirements of Section 2.05.

 

If no election as to the Type of Borrowing is
specified, then the requested Borrowing shall be an ABR Borrowing. If no Interest Period is specified with respect to any requested Term
Benchmark Borrowing, then the relevant Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly
following receipt of a Borrowing Request in accordance with this Section, the Administrative Agent shall advise each Lender of the details
thereof and of the amount of the Loan to be made by such Lender as part of the requested Borrowing.

 

SECTION
2.04. Competitive Bid Procedure. (a) Subject to the terms and conditions set forth herein, from time to time during
the Availability Period any Borrower may request Competitive Bids for Competitive Loans in US Dollars and may (but shall not have
any obligation to) accept Competitive Bids and borrow Competitive Loans; provided that the aggregate Exposures at any time
shall not exceed the aggregate Commitments. To

 

    

     26

    

request Competitive Bids, the
Company or the applicable Borrower shall notify the Administrative Agent of such request by telephone (i) in the case of a Term Benchmark
Competitive Borrowing, not later than 10:00 a.m., New York City time, four Business Days before the date of the proposed Competitive Borrowing
and (ii) in the case of a Fixed Rate Borrowing, not later than 12:00 noon, New York City time, one Business Day before the date
of the proposed Competitive Borrowing. Not more than three Competitive Bid Requests may be submitted on the same day. Each telephonic
Competitive Bid Request shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Competitive
Bid Request in a form approved by the Administrative Agent and signed by the Company. Each such telephonic and written Competitive Bid
Request shall specify the following information in compliance with Section 2.02:

 

(i)
the Borrower requesting the Competitive Bid and the aggregate amount of the requested Borrowing;

 

(ii)
the date of such Borrowing, which shall be a Business Day;

 

(iii)
whether such Borrowing is to be a Term Benchmark Borrowing or a Fixed Rate Borrowing;

 

(iv)
the Interest Period to be applicable to such Borrowing, which shall be a period contemplated by the definition of the term “Interest
Period”; and

 

(v)
the location and number of the Company’s account to which funds are to be disbursed, which shall comply with the requirements
of Section 2.05.

 

Promptly following receipt of a Competitive Bid
Request in accordance with this Section, the Administrative Agent shall notify the Lenders of the details thereof by telecopy, inviting
the Lenders to submit Competitive Bids.

 

(b)
Each Lender may (but shall not have any obligation to) make one or more Competitive Bids to the Company in response to a Competitive
Bid Request. Each Competitive Bid by a Lender must be in a form approved by the Administrative Agent and must be received by the Administrative
Agent by telecopy, (i) in the case of a Term Benchmark Competitive Borrowing, not later than 12:00 noon, New York City time, four
Business Days before the date of the proposed Competitive Borrowing and (ii) in the case of a Fixed Rate Borrowing, not later than 9:30 a.m.,
New York City time, on the date of the proposed Competitive Borrowing. Competitive Bids that do not conform to the form approved by the
Administrative Agent may be rejected by the Administrative Agent, and the Administrative Agent shall notify the applicable Lender as promptly
as practicable. Each Competitive Bid shall specify (i) the principal amount (which may equal the entire principal amount of the Competitive
Borrowing requested by the Company) of the Competitive Loan or Loans that the Lender is willing to make, (ii) the Competitive Bid
Rate or Rates at which the Lender is prepared to make such Loan or Loans (expressed as a percentage rate per annum in the form of a decimal
to no more than four decimal places) and (iii) the Interest Period applicable to each such Loan and the last day thereof.

 

    

     27

    

(c)
The Administrative Agent shall promptly notify the Company by telecopy of the Competitive Bid Rate and the principal amount specified
in each Competitive Bid and the identity of the Lender that shall have made such Competitive Bid.

 

(d)
Subject only to the provisions of this paragraph, the applicable Borrower may accept or reject any Competitive Bid. The Borrower
shall notify the Administrative Agent by telephone, confirmed by telecopy in a form approved by the Administrative Agent, whether and
to what extent it has decided to accept or reject each Competitive Bid, (i) in the case of a Term Benchmark Competitive Borrowing,
not later than 11:00 a.m., New York City time, three Business Days before the date of the proposed Competitive Borrowing and (ii) in the
case of a Fixed Rate Borrowing, not later than 10:30 a.m., New York City time, on the date of the proposed Competitive Borrowing;
provided that (i) the failure of the Borrower to give such notice shall be deemed to be a rejection of each Competitive Bid,
(ii) the Borrower shall not accept a Competitive Bid made at a particular Competitive Bid Rate if such Borrower rejects a Competitive
Bid made at a lower Competitive Bid Rate, (iii) the aggregate amount of the Competitive Bids accepted by the Borrower shall not exceed
the aggregate amount of the requested Competitive Borrowing specified in the related Competitive Bid Request and (iv) to the extent
necessary to comply with clause (iii) above, the Borrower may accept Competitive Bids at the same Competitive Bid Rate in part, which
acceptance, in the case of multiple Competitive Bids at such Competitive Bid Rate, shall be made pro rata in accordance with the amount
of each such Competitive Bid; provided further that in calculating the pro rata allocation of acceptances of portions of multiple
Competitive Bids at a particular Competitive Bid Rate pursuant to clause (iv) the amounts shall be rounded to integral multiples
of the Borrowing Multiple in a manner determined by the Borrower. A notice given by the Borrower pursuant to this paragraph shall be irrevocable.

 

(e)
The Administrative Agent shall promptly notify each bidding Lender by telecopy whether or not its Competitive Bid has been accepted
(and, if so, the amount and Competitive Bid Rate so accepted), and each successful bidder will thereupon become bound, subject to the
terms and conditions hereof, to make the Competitive Loan in respect of which its Competitive Bid has been accepted.

 

(f)
If the Administrative Agent or one of its Affiliates shall elect to submit a Competitive Bid in its capacity as a Lender, it shall
submit such Competitive Bid directly to the applicable Borrower at least one quarter of an hour earlier than the time by which the other
Lenders are required to submit their Competitive Bids to the Administrative Agent pursuant to paragraph (b) of this Section.

 

SECTION
2.05. Funding of Borrowings. (a) Each Lender shall make each Loan (other than a Contract Loan) to be made by it
hereunder on the proposed date thereof by wire transfer of immediately available funds by 2:00 p.m., New York City time (or if
later, in the case of an ABR Borrowing, one hour after the Lenders shall have been notified of the applicable Borrowing Request), to
the account of the Administrative Agent. The Administrative Agent will make such Loans available to the relevant Borrower by
promptly crediting the amounts so received, in like funds, to an account of such Borrower maintained by the Administrative Agent (or
another account specified by such Borrower

 

    

     28

    

in the applicable Borrowing
Request) in New York City. Each Lender shall make each Contract Loan to be made by it hereunder on the proposed date thereof by wire transfer
of immediately available funds by the time and to the account agreed upon by the relevant Borrower and the applicable Lender.

 

(b)
Unless the Administrative Agent shall have received notice from a Lender prior to the proposed date of any Borrowing that such
Lender will not make available to the Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent may assume
that such Lender has made such share available on such date in accordance with paragraph (a) of this Section and may, in reliance upon
such assumption, make available to the relevant Borrower a corresponding amount. In such event, if a Lender has not in fact made its share
of the applicable Borrowing available to the Administrative Agent, and the Administrative Agent has made an amount corresponding to such
share available to such Borrower, then the applicable Lender and such Borrower severally agree to pay to the Administrative Agent forthwith
on demand such corresponding amount with interest thereon, for each day from and including the date such amount is made available to such
Borrower to but excluding the date of payment to the Administrative Agent, at (i) in the case of such Lender, the rate reasonably determined
by the Administrative Agent to be the cost to it of funding such amount or (ii) in the case of such Borrower, the interest rate applicable
to the subject Loan. If such Lender pays such amount to the Administrative Agent, then such amount shall constitute such Lender’s
Loan included in such Borrowing and the Administrative Agent shall return to such Borrower any amount (including interest) paid by such
Borrower to the Administrative Agent pursuant to this paragraph.

 

SECTION
2.06. Repayment of Borrowings; Evidence of Debt; Extension of Maturity Date. (a) Each Borrower hereby
unconditionally promises to pay to the Administrative Agent for the accounts of the applicable Lenders (i) the then unpaid principal
amount of the Loans comprising each Borrowing of such Borrower on the Maturity Date and (ii) the then unpaid principal amount of
each Competitive Loan on the last day of the Interest Period applicable thereto. Each Borrower hereby unconditionally promises to
pay to the applicable Lender the then unpaid principal amount of each Contract Loan on the date or dates agreed by such Borrower and
such Lender.

 

(b)
Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the obligations of each Borrower
to such Lender resulting from the Loans made by such Lender.

 

(c)
The Administrative Agent shall maintain accounts in which it shall record (i) the amount of each Borrowing made hereunder,
the Class and Type thereof and the Interest Period applicable thereto and (ii) the amount of any sum received by the Administrative
Agent hereunder for the accounts of the Lenders and each Lender’s share thereof.

 

(d)
The entries made in the accounts maintained pursuant to paragraph (b) or (c) of this Section shall be prima facie
evidence of the existence and amounts of the obligations recorded therein; provided that the failure of any Lender or the Administrative

 

    

     29

    

Agent to maintain such accounts,
or any error therein, shall not in any manner affect the obligation of any Borrower to repay the Loans made to it in accordance with the
terms of this Agreement.

 

(e)
Any Lender may request that Loans of any Class made by it to any Borrower be evidenced by a promissory note if it is the policy
of such Lender to obtain promissory notes in transactions comparable to those provided for herein or if such Lender has another business
reason for requesting such a promissory note. In such event, each applicable Borrower shall prepare, execute and deliver to such Lender
a promissory note payable to the order of such Lender (or, if requested by such Lender, to such Lender and its registered assigns) in
the form of Exhibit C hereto. Thereafter, the Loans evidenced by each such promissory note and interest thereon shall at all times (including
after assignment pursuant to Section 10.04) be represented by one or more promissory notes in such form payable to the order of the
payee named therein (or, if such promissory note is a registered note, to such payee and its registered assigns).

 

(f)
Each Borrower may, by notice to the Administrative Agent (which shall promptly deliver a copy to each of the Lenders) given not
less than 45 days and not more than 60 days prior to the Termination Date, extend the Maturity Date to a date not later than the first
anniversary of the Termination Date; provided that any such extension of the Maturity Date shall be subject to the satisfaction,
on and as of the Termination Date, of the following conditions:

 

(i)
The representations and warranties of the Borrowers set forth herein shall be true and correct on and as of the Termination Date,
except to the extent such representations and warranties expressly relate to an earlier date (in which case such representations and warranties
shall be true and correct as of such earlier date).

 

(ii)
Immediately before and after the Termination Date, no Default shall have occurred and be continuing.

 

An extension of the Maturity Date as set forth
herein shall be deemed to constitute a representation and warranty by each Borrower on and as of the Termination Date as to the matters
specified in paragraphs (i) and (ii) of this Section 2.06(f). Loans repaid or prepaid after the Termination Date may not be reborrowed.

 

SECTION
2.07. Interest Elections. (a) Each Borrowing initially shall be of the Type specified in the applicable Borrowing
Request and, in the case of a Term Benchmark Borrowing, shall have an initial Interest Period as specified in such Borrowing
Request. After the initial Revolving Borrowings, the Borrowers may elect to convert and continue such Revolving Borrowings to or as
other Revolving Borrowings as provided in this Section. The Borrowers may elect different options with respect to different portions
of the affected Borrowings, in which case each such portion shall be allocated ratably among the Lenders holding the Loans
comprising such Borrowings and any Loans resulting from an election made with respect to any such portion shall be considered a
separate Borrowing. Notwithstanding any other provision of this Section, no Borrowing may be converted into

 

    

     30

    

or continued as a Borrowing
with an Interest Period ending after the Maturity Date. This Section shall not apply to Competitive Loans or to Contract Loans, which
may not be converted or continued.

 

(b)
To make an election pursuant to this Section, a Borrower, or the Company on its behalf, shall notify the Administrative Agent of
such election by telephone in the case of an election that would result in a Borrowing, by the time and date that a Borrowing Request
would be required under Section 2.03 if such Borrower were requesting a Borrowing of the Type resulting from such election to be
made on the effective date of such election. Each such telephonic Interest Election Request shall be irrevocable and shall be confirmed
promptly by hand delivery or telecopy to the Administrative Agent of a written Interest Election Request in a form approved by the Administrative
Agent and signed by the relevant Borrower, or the Company on its behalf. Notwithstanding any contrary provision herein, this Section shall
not be construed to permit any Borrower to elect an Interest Period for Term Benchmark Loans that does not comply with Section 2.02(d).

 

(c)
Each telephonic and written Interest Election Request shall specify the following information in compliance with Section 2.03:

 

(i)
the Borrowing to which such Interest Election Request applies and, if different options are being elected with respect to different
portions thereof, the portions thereof to be allocated to each resulting Borrowing (in which case the information to be specified pursuant
to clauses (iii) and (iv) below shall be specified for each resulting Borrowing);

 

(ii)
the effective date of the election made pursuant to such Interest Election Request, which shall be a Business Day;

 

(iii)
whether a Term Benchmark Borrowing or an ABR Borrowing is elected; and

 

(iv)
in the case of an election of a Term Benchmark Borrowing, the Interest Period to be applicable thereto after giving effect to such
election, which shall be a period contemplated by the definition of the term “Interest Period”; provided that no Term
Benchmark Borrowing may be elected with an Interest Period that would extend after the Maturity Date.

 

If any such Interest Election Request requests
a Term Benchmark Borrowing but does not specify an Interest Period, then the Borrower shall be deemed to have selected an Interest Period
of one month’s duration.

 

(d)
Promptly following receipt of an Interest Election Request, the Administrative Agent shall advise each Lender of the details thereof
and of such Lender’s portion of each resulting Borrowing.

 

(e)
If the relevant Borrower fails to deliver a timely Interest Election Request with respect to a Term Benchmark Borrowing prior to
the end of the Interest

 

    

     31

    

Period applicable thereto, then,
unless such Borrowing is repaid as provided herein, at the end of such Interest Period such Borrowing shall be converted to an ABR Borrowing.

 

(f)
The conversion or continuation of any Borrowing shall not constitute a repayment of amounts outstanding or a new advance of funds
hereunder.

 

SECTION
2.08. Termination and Reduction of Commitments. (a) Unless previously terminated, the Commitments shall terminate on
the Termination Date.

 

(b)
The Company may at any time terminate, or from time to time reduce, the Commitments; provided that (i) each reduction of
the Commitments shall be in an amount that is an integral multiple of the Borrowing Multiple and not less than the Borrowing Minimum and
(ii) the Company shall not terminate or reduce the Commitments if, after giving effect to any concurrent prepayment of the Loans in accordance
with Section 2.09, the Revolving Loan Exposure of any Lender would exceed its Commitment or the aggregate Exposures would exceed
the aggregate Commitments.

 

(c)
The Company shall notify the Administrative Agent of any election to terminate or reduce the Commitments under paragraph (b)
of this Section at least three Business Days prior to the effective date of such termination or reduction, specifying the effective date
of such election. Promptly following receipt of any such notice, the Administrative Agent shall advise the Lenders of the contents thereof.
Each notice delivered by the Company pursuant to this Section shall be irrevocable; provided that a notice of termination of the
Commitments delivered by the Company may state that such notice is conditioned upon the effectiveness of other credit facilities, in which
case such notice may be revoked by the Company (by notice to the Administrative Agent on or prior to the specified effective date) if
such condition is not satisfied. Any termination or reduction of the Commitments shall be permanent. Each reduction of the Commitments
shall be made ratably among the Lenders in accordance with their respective Commitments.

 

SECTION
2.09. Prepayment of Loans. (a) Any Borrower, or the Company on behalf of any Borrower, shall have the right at any
time and from time to time to prepay any Borrowing of such Borrower in whole or in part, subject to prior notice in accordance with
paragraph (d) of this Section; provided that, unless the applicable Borrowers and Lenders shall have otherwise agreed at the
time such Loans were made, Competitive Loans or Contract Loans may be prepaid only with the consent of the Lenders making such
Loans.

 

(b)
If the aggregate Exposures shall exceed the aggregate Commitments, then (i) on the last day of any Interest Period for any Term
Benchmark Borrowing, and (ii) on any other date in the event ABR Borrowings shall be outstanding, the applicable Borrowers shall prepay
Loans in an amount equal to the lesser of (A) the amount necessary to eliminate such excess (after giving effect to any other prepayment
of Loans on such day) and (B) the amount of the applicable Borrowings referred to in clause (i) or (ii), as applicable.

 

    

     32

    

(c)
Prior to any optional or mandatory prepayment of Borrowings hereunder, the applicable Borrower shall select the Borrowing or Borrowings
to be prepaid and shall specify such selection in the notice of such prepayment pursuant to paragraph (d) of this Section.

 

(d)
The applicable Borrower, or the Company on behalf of the applicable Borrower, shall notify the Administrative Agent by telephone
(confirmed by telecopy) of any prepayment of a Borrowing hereunder (i) in the case of a Term Benchmark Borrowing, not later than 11:00 a.m.,
New York City time, three Business Days before the date of such prepayment and (ii) in the case of an ABR Borrowing, not later
than 11:00 a.m., New York City time, one Business Day before the date of such prepayment. Each such notice shall be irrevocable and shall
specify the prepayment date and the principal amount of each Borrowing or portion thereof to be prepaid; provided that, if a notice
of optional prepayment is given in connection with a conditional notice of termination of the Commitments as contemplated by Section 2.08(c),
then such notice of prepayment may be revoked if such notice of termination is revoked in accordance with Section 2.08(c). Promptly
following receipt of any such notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each partial prepayment
of any Borrowing shall be in an amount that would be permitted in the case of an advance of a Borrowing of the same Type as provided in
Section 2.02. Each prepayment of a Borrowing shall be applied ratably to the Loans included in the prepaid Borrowing. Prepayments
shall be accompanied by (i) accrued interest to the extent required by Section 2.11 and (ii) break funding payments pursuant
to Section 2.14.

 

SECTION
2.10. Fees.  (a) The Company agrees to pay to the
Administrative Agent in US Dollars for the account of each Lender (except, in the case of any Defaulting Lender, as provided in
Section 2.19) a commitment fee, which shall accrue at the rate of 0.0175% per annum on the daily unused amount of the Commitment of
such Lender during the period from and including the date hereof to but excluding the date on which such Commitment terminates.
Accrued commitment fees shall be payable in arrears on the last day of March, June, September and December of each year, commencing
on the first such date to occur after the date hereof, and on the date on which the Commitments terminate. All commitment fees shall
be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day
but excluding the last day). For purposes of computing commitment fees, a Commitment of a Lender shall be deemed to be used
to the extent of the outstanding Loans of such Lender.

 

(b)
On the Termination Date, the Company agrees to pay to the Administrative Agent for the account of each Lender a term-out
fee equal to 0.75% of the outstanding amount of such Lender’s Loans that are not repaid on the Termination Date.

 

(c)
The Company agrees to pay to the Administrative Agent, for its own account, fees payable in the amounts and at the times separately
agreed upon between the Company and the Administrative Agent.

 

(d)
All fees payable hereunder shall be paid on the dates due, in immediately available funds, to the Administrative Agent for distribution,
in the case of

 

    

     33

    

commitment fees, to the Lenders.
Fees paid shall not be refundable under any circumstances.

 

SECTION
2.11. Interest. (a) The Loans comprising each ABR Borrowing shall bear interest at the Alternate Base Rate plus the
Applicable Rate.

 

(b)
The Loans comprising each Term Benchmark Borrowing shall bear interest (i) in the case of a Revolving Borrowing, at the Adjusted
Term SOFR Rate for the Interest Period in effect for such Borrowing plus the Applicable Rate, or (ii) in the case of a Term Benchmark
Competitive Loan, at the Adjusted Term SOFR Rate for the Interest Period in effect for such Borrowing plus (or minus, as applicable) the
Margin applicable to such Loan.

 

(c)
Each Fixed Rate Loan shall bear interest at the Fixed Rate applicable to such Loan.

 

(d)
Each Contract Loan shall bear interest at a rate per annum agreed upon between the applicable Borrower and Lender.

 

(e)
Notwithstanding the foregoing, if any principal of or interest on any Loan or any fee payable by any Borrower hereunder is not
paid when due, whether at stated maturity, upon acceleration or otherwise, such overdue amount shall bear interest, after as well as before
judgment, at a rate per annum equal to (i) in the case of overdue principal of any Loan, 2% per annum plus the rate otherwise applicable
to such Loan as provided in the preceding paragraphs of this Section and (ii) in the case of any other amount payable, 2% per annum plus
the rate applicable to ABR Loans as provided in paragraph (a) above.

 

(f)
Accrued interest on each Loan shall be payable in arrears on each Interest Payment Date for such Loan; provided that (i)
interest accrued pursuant to paragraph (e) above shall be payable on demand, (ii) in the event of any repayment or prepayment of any Loan
(other than a prepayment of an ABR Loan prior to the end of the Availability Period), accrued interest on the principal amount repaid
or prepaid shall be payable on the date of such repayment or prepayment and (iii) in the event of any conversion of any Term Benchmark
Loan prior to the end of the current Interest Period therefor, accrued interest on such Loan shall be payable on the effective date of
such conversion.

 

(g)
All interest hereunder shall be computed on the basis of a year of 360 days, except that interest computed by reference to
the Alternate Base Rate at times when the Alternate Base Rate is based on the Prime Rate shall be computed on the basis of a year of 365
days (or 366 days in a leap year), and in each case shall be payable for the actual number of days elapsed (including the first day
but excluding the last day). The applicable Alternate Base Rate or Adjusted Term SOFR Rate shall be determined by the Administrative Agent,
and such determination shall be conclusive absent manifest error.

 

SECTION
2.12. Alternate Rate of Interest.  (a) Subject to clauses (b), (c), (d), (e) and (f) of this Section 2.12, if:

 

    

     34

    

(i)
the Administrative Agent determines (which determination shall be conclusive absent manifest error) (A) prior to the commencement
of any Interest Period for a Term Benchmark Borrowing that adequate and reasonable means do not exist for ascertaining the Adjusted Term
SOFR Rate (including because the Term SOFR Reference Rate is not available or published on a current basis) for such Interest Period or
(B) at any time, that adequate and reasonable means do not exist for ascertaining Adjusted Daily Simple SOFR; or

 

(ii)
the Administrative Agent is advised by a majority in interest of the Lenders (or in the case of a Term Benchmark Competitive Loan,
the Lender that is required to make such Loan) that would participate in such Borrowing that (A) prior to the commencement of any Interest
Period for a Term Benchmark Borrowing, the Adjusted Term SOFR Rate for such Interest Period will not adequately and fairly reflect the
cost to such Lenders (or Lender) of making or maintaining their Loans (or its Loan) included in such Borrowing for such Interest Period
or (B) at any time, Adjusted Daily Simple SOFR will not adequately and fairly reflect the cost to such Lenders (or Lender) of making or
maintaining their Loans (or its Loan) included in such Borrowing;

 

then the Administrative Agent shall give notice
thereof to the applicable Borrower and the applicable Lenders by telephone or telecopy as promptly as practicable thereafter and, until
(x) the Administrative Agent notifies the applicable Borrower and the applicable Lenders that the circumstances giving rise to such notice
no longer exist with respect to the relevant Benchmark and (y) the Borrower delivers a new Interest Election Request in accordance with
the terms of Section 2.07 or a new Borrowing Request in accordance with the terms of Section 2.03, any Interest Election Request that
requests the conversion of any Borrowing to, or continuation of any Borrowing as, a Term Benchmark Borrowing and any Borrowing Request
that requests a Term Benchmark Borrowing shall instead be deemed to be an Interest Election Request or a Borrowing Request, as applicable,
for (x) an Adjusted Daily Simple SOFR Borrowing so long as Adjusted Daily Simple SOFR is not also the subject of Section 2.12(a)(i) or
(ii) above or (y) an ABR Borrowing if Adjusted Daily Simple SOFR also is the subject of Section 2.12(a)(i) or (ii) above; provided
that (x) if the circumstances giving rise to such notice do not affect all the Lenders, then requests by the applicable Borrower for Term
Benchmark Competitive Borrowings may be made to Lenders that are not affected thereby and (y) if the circumstances giving rise to such
notice affect only one Type of Borrowings, then the other Type of Borrowings shall be permitted. Furthermore, if any Term Benchmark Loan
or Adjusted Daily Simple SOFR Loan is outstanding on the date of the applicable Borrower’s receipt of the notice from the Administrative
Agent referred to in this Section 2.12(a) with respect to the Adjusted Term SOFR Rate or Adjusted Daily Simple SOFR, as applicable, then
until (x) the Administrative Agent notifies the applicable Borrower and the applicable Lenders that the circumstances giving rise to such
notice no longer exist with respect to the relevant Benchmark and (y) the applicable Borrower delivers a new Interest Election Request
in accordance with the terms of Section 2.07 or a new Borrowing Request in accordance with the terms of Section 2.03, (1) any Term Benchmark
Loan shall on the last day of the Interest Period applicable to such Loan (or the next succeeding Business Day if such day is not a Business
Day), be converted by the Administrative Agent to, and shall constitute, (x) an

 

    

     35

    

Adjusted Daily Simple SOFR Borrowing so long as
Adjusted Daily Simple SOFR is not also the subject of Section 2.12(a)(i) or (ii) above or (y) an ABR Loan if Adjusted Daily Simple SOFR
also is the subject of Section 2.12(a)(i) or (ii) above, on such day and (2) any Adjusted Daily Simple SOFR Loan shall on and from such
day be converted by the Administrative Agent to, and shall constitute, an ABR Loan.

 

(b)
Notwithstanding anything to the contrary herein or in any other Loan Document, if a Benchmark Transition Event and its related
Benchmark Replacement Date have occurred prior to the Reference Time in respect of any setting of the then-current Benchmark, then (x)
if a Benchmark Replacement is determined in accordance with clause (1) of the definition of “Benchmark Replacement” for such
Benchmark Replacement Date, such Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Loan Document
in respect of such Benchmark setting and subsequent Benchmark settings without any amendment to, or further action or consent of any other
party to, this Agreement or any other Loan Document and (y) if a Benchmark Replacement is determined in accordance with clause (2) of
the definition of “Benchmark Replacement” for such Benchmark Replacement Date, such Benchmark Replacement will replace such
Benchmark for all purposes hereunder and under any Loan Document in respect of any Benchmark setting at or after 5:00 p.m. (New York City
time) on the fifth Business Day after the date notice of such Benchmark Replacement is provided to the Lenders without any amendment to,
or further action or consent of any other party to, this Agreement or any other Loan Document so long as the Administrative Agent has
not received, by such time, written notice of objection to such Benchmark Replacement from Lenders comprising the Required Lenders.

 

(c)
Notwithstanding anything to the contrary herein or in any other Loan Document, the Administrative Agent will have the right, in
consultation with the Company, to make Benchmark Replacement Conforming Changes from time to time and, notwithstanding anything to the
contrary herein or in any other Loan Document, any amendments implementing such Benchmark Replacement Conforming Changes will become effective
without any further action or consent of any other party to this Agreement or any other Loan Document.

 

(d)
The Administrative Agent will promptly notify the Company and the Lenders of (i) any occurrence of a Benchmark Transition Event,
(ii) the implementation of any Benchmark Replacement, (iii) the effectiveness of any Benchmark Replacement Conforming Changes, (1) the
removal or reinstatement of any tenor of a Benchmark pursuant to clause (f) below and (2) the commencement or conclusion of any Benchmark
Unavailability Period. Any determination, decision or election that may be made by the Administrative Agent or, if applicable, any Lender
(or group of Lenders), pursuant to this Section 2.12, including any determination with respect to a tenor, rate or adjustment or of the
occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action or any selection,
will be conclusive and binding absent manifest error and may be made in its or their sole discretion and without consent from any other
party to this Agreement or any other Loan Document, except, in each case, as expressly required pursuant to this Section 2.12.

 

    

     36

    

(e)
Notwithstanding anything to the contrary herein or in any other Loan Document, at any time (including in connection with the implementation
of a Benchmark Replacement), (i) if the then-current Benchmark is a term rate (including the Term SOFR Rate) and either (A) any tenor
for such Benchmark is not displayed on a screen or other information service that publishes such rate from time to time as selected by
the Administrative Agent in its reasonable discretion or (B) the regulatory supervisor for the administrator of such Benchmark has provided
a public statement or publication of information announcing that any tenor for such Benchmark is or will be no longer representative,
then the Administrative Agent may modify the definition of “Interest Period” for any Benchmark settings at or after such time
to remove such unavailable or non-representative tenor and (ii) if a tenor that was removed pursuant to clause (i) above either (A) is
subsequently displayed on a screen or information service for a Benchmark (including a Benchmark Replacement) or (B) is not, or is no
longer, subject to an announcement that it is or will no longer be representative for a Benchmark (including a Benchmark Replacement),
then the Administrative Agent may modify the definition of “Interest Period” for all Benchmark settings at or after such time
to reinstate such previously removed tenor.

 

(f)
Upon the Company’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Company may revoke any
request for a Term Benchmark Borrowing of, conversion to or continuation of Term Benchmark Loans to be made, converted or continued during
any Benchmark Unavailability Period and, failing that, the Company will be deemed to have converted any request for a Term Benchmark Borrowing
into a request for a Borrowing of or conversion to (A) an Adjusted Daily Simple SOFR Borrowing so long as Adjusted Daily Simple SOFR is
not the subject of a Benchmark Transition Event or (B) an ABR Borrowing if Adjusted Daily Simple SOFR is the subject of a Benchmark Transition
Event. During any Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor,
the component of the Alternate Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not
be used in any determination of the Alternate Base Rate. Furthermore, if any Term Benchmark Loan or Adjusted Daily Simple SOFR Loan is
outstanding on the date of the Company’s receipt of notice of the commencement of a Benchmark Unavailability Period with respect
to the Adjusted Term SOFR Rate or Adjusted Daily Simple SOFR, as applicable, then until such time as a Benchmark Replacement is implemented
pursuant to this Section 2.12, (1) any Term Benchmark Loan shall on the last day of the Interest Period applicable to such Loan (or the
next succeeding Business Day if such day is not a Business Day), be converted by the Administrative Agent to, and shall constitute, (x)
an Adjusted Daily Simple SOFR Loan so long as Adjusted Daily Simple SOFR is not the subject of a Benchmark Transition Event or (y) an
ABR Loan if Adjusted Daily Simple SOFR is the subject of a Benchmark Transition Event, on such day and (2) any Adjusted Daily Simple SOFR
Loan shall on and from such day be converted by the Administrative Agent to, and shall constitute, an ABR Loan.

 

SECTION
2.13. Increased Costs.  (a) If any Change in Law or the applicability of any Statutory Reserves shall:

 

    

     37

    

(i)
impose, modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar requirement against
assets of, deposits with or for the account of, or credit extended by, any Lender; or

 

(ii)
impose on any Lender or the applicable offshore interbank market any other condition affecting this Agreement or Term Benchmark
Loans made by such Lender or participations therein;

 

and the result of any of the foregoing shall be
to increase the cost to such Lender of making, continuing, converting into or maintaining any Term Benchmark Loan (or of maintaining its
obligation to make any such Loan) or to reduce the amount of any sum received or receivable by such Lender hereunder (whether of principal,
interest or otherwise), then the Company will pay or cause the other Borrowers to pay to such Lender such additional amount or amounts
as will compensate such Lender for such additional costs incurred or reduction suffered.

 

(b)
If any Lender reasonably determines that any Change in Law regarding capital or liquidity requirements has or would have the effect
of reducing the rate of return on such Lender’s capital or on the capital of such Lender’s holding company, if any, as a consequence
of this Agreement or the Loans made by, such Lender, to a level below that which such Lender or such Lender’s holding company could
have achieved but for such Change in Law (taking into consideration such Lender’s policies and the policies of such Lender’s
holding company with respect to capital adequacy and liquidity), then from time to time the Company will pay or cause the other Borrowers
to pay to such Lender, as the case may be, such additional amount or amounts as will compensate such Lender or such Lender’s holding
company for any such reduction suffered.

 

(c)
Each Lender shall determine the amount or amounts necessary to compensate such Lender or such Lender’s holding company, as
the case may be, as specified in paragraph (a) or (b) of this Section using the methods customarily used by it for such purpose (and
if such Lender uses more than one such method, the method used hereunder shall be that which most accurately determines such amount or
amounts). A certificate of a Lender setting forth the amount or amounts necessary to compensate such Lender or such Lender’s holding
company, as the case may be, as specified in paragraph (a) or (b) of this Section, and an explanation in reasonable detail of the
method and calculations by which such amount shall have been determined, shall be delivered to the Company and shall be conclusive absent
manifest error. The Company shall pay or cause the other Borrowers to pay to such Lender the amount shown as due on any such certificate
within 15 Business Days after receipt thereof.

 

(d)
Failure or delay on the part of any Lender to demand compensation pursuant to this Section shall not constitute a waiver of such
Lender’s right to demand such compensation; provided that the Company shall not be required to compensate a Lender pursuant
to this Section for any increased costs or reductions incurred more than 180 days prior to the date that such Lender notifies the Borrower
of the Change in Law giving rise to such increased costs or reductions and delivers a certificate with respect thereto as provided in
paragraph (c) above; provided further that, if the Change in Law giving rise to

 

    

     38

    

such increased costs or reductions
is retroactive, then the 180-day period referred to above shall be extended to include the period of retroactive effect thereof.

 

SECTION
2.14. Break Funding Payments. In the event of (a) the payment of any principal of any Term Benchmark Loan or Fixed Rate
Loan other than on the last day of an Interest Period applicable thereto (including as a result of an Event of Default), (b) the
conversion of any Term Benchmark Loan to a Loan of a different Type or Interest Period other than on the last day of the Interest Period
applicable thereto, (c) the failure to borrow, convert, continue or prepay any Loan on the date specified in any notice delivered pursuant
hereto (regardless of whether such notice may be revoked under Section 2.09(d) and is revoked in accordance therewith), or (d) the
assignment or deemed assignment of any Term Benchmark Loan or Fixed Rate Loan other than on the last day of the Interest Period applicable
thereto as a result of a request by the Company pursuant to Section 2.17, then, in any such event, the applicable Borrower shall
compensate each Lender for the loss, cost and expense attributable to such event. A certificate of any Lender setting forth any amount
or amounts that such Lender is entitled to receive pursuant to this Section, and setting forth in reasonable detail the calculations used
by such Lender to determine such amount or amounts, shall be delivered to the applicable Borrower and shall be conclusive absent manifest
error. The applicable Borrower shall pay such Lender the amount shown as due on any such certificate within 15 Business Days after receipt
thereof.

 

SECTION
2.15. Taxes. (a) Any and all payments by or on account of any Borrower in respect of any Obligation hereunder or under
any other Loan Document shall be made free and clear of and without deduction for any Indemnified Taxes or Other Taxes; provided
that if any Borrower shall be required to deduct any Indemnified Taxes or Other Taxes from such payments, then (i) the sum
payable shall be increased as necessary so that after making all required deductions (including deductions applicable to additional
sums payable under this Section) the Administrative Agent or the applicable Lender, as the case may be, receives an amount equal to
the sum it would have received had no such deductions been made, (ii) such Borrower shall make such deductions and
(iii) such Borrower shall pay the full amount deducted to the relevant Governmental Authority in accordance with applicable
law.

 

(b)
In addition, the Borrowers shall pay any Other Taxes to the relevant Governmental Authority in accordance with applicable law.

 

(c)
The relevant Borrower shall indemnify the Administrative Agent and each Lender, within 15 Business Days after written demand therefor,
for the full amount of any Indemnified Taxes or Other Taxes paid by the Administrative Agent or such Lender, as the case may be, on or
with respect to any payment by or on account of any obligation of any Borrower hereunder or under any other Loan Document (including Indemnified
Taxes or Other Taxes imposed or asserted on or attributable to amounts payable under this Section) and any penalties, interest and reasonable
expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes or Other Taxes were correctly or legally imposed
or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability setting forth in reasonable
detail the circumstances giving rise thereto and the calculations used by such Lender to determine the amount

 

    

     39

    

thereof delivered to the Company
by a Lender, or by the Administrative Agent, on its own behalf or on behalf of a Lender, shall be conclusive absent manifest error.

 

(d)
As soon as practicable after any payment of Indemnified Taxes or Other Taxes by any Borrower to a Governmental Authority, such
Borrower shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such Governmental Authority
evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to the
Administrative Agent.

 

(e)
Each Lender shall severally indemnify the Administrative Agent for (i) any Taxes (but, in the case of any Indemnified Taxes, only
to the extent that the relevant Borrower has not already indemnified the Administrative Agent for such Indemnified Taxes and without limiting
the obligation of the relevant Borrower to do so) attributable to such Lender and (ii) any Taxes attributable to such Lender’s failure
to comply with the provisions of Section 10.04(h) relating to the maintenance of a Participant Register, in each case that are paid or
payable by the Administrative Agent in connection with any Loan Document and any penalties, interest and reasonable expenses arising therefrom
or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority.
The indemnity under this paragraph (e) shall be paid within 15 Business Days after the Administrative Agent delivers to the applicable
Lender a certificate stating the amount of Taxes so paid or payable by the Administrative Agent. Such certificate shall be conclusive
of the amount so paid or payable absent manifest error.

 

(f)
(i) Any Lender that is entitled to an exemption from or reduction of withholding Tax under the law of the jurisdiction in which
a Borrower is located, or any treaty to which such jurisdiction is a party, with respect to payments under this Agreement shall deliver
to the Company (with a copy to the Administrative Agent), at the time or times prescribed by applicable law, such properly completed and
executed documentation prescribed by applicable law or reasonably requested by the Company as will permit such payments to be made without
withholding or at a reduced rate; provided that such Lender has received written notice from the Company advising it of the availability
of such exemption or reduction and containing all applicable documentation.

 

(ii) If a payment
made to a Lender under any Loan Document would be subject to United States federal withholding Tax imposed by FATCA if such Lender were
to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of
the Code, as applicable), such Lender shall deliver to the Withholding Agent, at the time or times prescribed by law and at such time
or times reasonably requested by the Withholding Agent, such documentation prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i)
of the Code) and such additional documentation reasonably requested by the Withholding Agent as may be necessary for the Withholding Agent
to comply with its obligations under FATCA, to determine that such Lender has or has not complied with such Lender’s obligations
under FATCA and, as necessary, to determine the amount to deduct and withhold from such

 

    

     40

    

payment. Solely for
purposes of this Section 2.15(f)(ii), “FATCA” shall include any amendments made to FATCA after the date of this Agreement.

 

SECTION
2.16. Payments Generally; Pro Rata Treatment; Sharing of Setoffs. (a) Except as agreed by the relevant Borrower and
the applicable Lenders with respect to Contract Loans, each Borrower shall make each payment required to be made by it hereunder or
under any other Loan Document (whether of principal, interest or fees, or of amounts payable under Section 2.13, 2.14 or 2.15,
or otherwise) prior to 12:00 noon, New York City time, on the date when due, in immediately available funds, without set-off or
counterclaim. Any amounts received after such time (or any other applicable time agreed by the relevant Borrower and the applicable
Lenders with respect to Contract Loans) on any date may, in the discretion of the Administrative Agent, be deemed to have been
received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to the
Administrative Agent to the applicable account specified in Schedule 2.16 for the account of the applicable Lenders or, in any such
case, to such other account as the Administrative Agent shall from time to time specify in a notice delivered to the Company and the
applicable Borrower; provided that payments to the applicable Lenders in respect of Contract Loans and payments pursuant to
Sections 2.13, 2.14, 2.15 and 10.03 shall be made directly to the Persons entitled thereto and payments pursuant to other Loan
Documents shall be made to the Persons specified therein (it being agreed that the Borrowers will be deemed to have satisfied their
obligations with respect to payments referred to in this proviso if they shall make such payments to the persons entitled thereto in
accordance with instructions provided by the Administrative Agent; the Administrative Agent agrees to provide such instructions upon
request, and no Borrower will be deemed to have failed to make such a payment if it shall transfer such payment to an improper
account or address as a result of the failure of the Administrative Agent to provide proper instructions). The Administrative Agent
shall distribute any such payments received by it for the account of any Lender or other Person promptly, in accordance with
customary banking practices, following receipt thereof at the appropriate lending office or other address specified by such Lender
or other Person. If any payment hereunder shall be due on a day that is not a Business Day, the date for payment shall be extended
to the next succeeding Business Day, and, in the case of any payment accruing interest, interest thereon shall be payable for the
period of such extension. All payments hereunder shall be made in US Dollars. Any payment required to be made by the Administrative
Agent hereunder shall be deemed to have been made by the time required if the Administrative Agent shall, at or before such time,
have taken the necessary steps to make such payment in accordance with the regulations or operating procedures of the clearing or
settlement system used by the Administrative Agent to make such payment.

 

(b)
If any Lender shall, by exercising any right of set-off or counterclaim or otherwise, obtain payment in respect of any principal
of or interest on its Loans resulting in such Lender receiving payment of a greater proportion of the aggregate amount of its Loans and
accrued interest thereon than the proportion received by any other Lender, then the Lender receiving such greater proportion shall purchase
(for cash at face value) participations in the Loans of other Lenders to the extent necessary so that the benefit of all such payments
shall be shared by the Lenders ratably in accordance with the aggregate

 

    

     41

    

amount of their Loans and accrued
interest thereon; provided that (i) if any such participations are purchased and all or any portion of the payment giving rise
thereto is recovered, such participations shall be rescinded and the purchase price restored to the extent of such recovery, without interest,
and (ii) the provisions of this paragraph shall not be construed to apply to any payment made by any Borrower pursuant to and in accordance
with the express terms of this Agreement or any payment obtained by a Lender as consideration for the assignment of or sale of a participation
in any of its Loans to any assignee or participant, other than to the Company or any Subsidiary or Affiliate thereof (as to which the
provisions of this paragraph shall apply). Each Borrower consents to the foregoing and agrees, to the extent it may effectively do so
under applicable law, that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against such Borrower
rights of set-off and counterclaim with respect to such participation as fully as if such Lender were a direct creditor of the Borrower
in the amount of such participation. Any purchaser of a participation under this paragraph shall have the benefit of Sections 2.13, 2.14
and 2.15 with respect to the participation purchased, but shall not be deemed by virtue of such purchase to have extended any Commitment
that it had not extended prior to such purchase.

 

(c)
Unless the Administrative Agent shall have received notice from the relevant Borrower prior to the date on which any payment is
due for the account of all or certain of the Lenders hereunder that such Borrower will not make such payment, the Administrative Agent
may assume that such Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute
to the applicable Lenders, as the case may be, the amount due. In such event, if such Borrower has not in fact made such payment, then
each of the applicable Lenders severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to
such Lender with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date
of payment to the Administrative Agent, at a rate determined by the Administrative Agent in accordance with banking industry practices
on interbank compensation.

 

(d)
If any Lender shall fail to make any payment required to be made by it to the Administrative Agent pursuant to this Agreement,
then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received
by it for the account of such Lender to satisfy such Lender’s obligations to the Administrative Agent until all such unsatisfied
obligations are fully paid.

 

SECTION
2.17. Mitigation Obligations; Replacement of Lenders. (a) If any Lender requests compensation under Section 2.13,
or if any Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any
Lender pursuant to Section 2.15, then such Lender shall consult with the Company regarding any actions that could be taken to
reduce amounts payable under such Sections and the costs of taking such actions and shall, at the request of the Company following
such consultations, use reasonable efforts to designate a different lending office for funding or booking its Loans hereunder or to
assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender,
such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 2.13 or 2.15,

 

    

     42

    

as the case may be, in the future
and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender.
The Company hereby agrees to pay all reasonable, direct, out-of-pocket costs and expenses incurred by any Lender in connection with any
such designation or assignment.

 

(b)
If (i) any Lender requests compensation under Section 2.13, (ii) any Borrower is required to pay any additional amount to
any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.15, (iii) any Lender becomes a Defaulting
Lender or (iv) any Lender delivers a Notice of Illegality pursuant to Section 2.18, then the Company may, at its sole expense and effort,
upon notice to such Lender and the Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance with
and subject to the restrictions contained in Section 10.04), all its interests, rights and obligations under the Loan Documents to an
assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment); provided
that (A) the Company shall have received the prior written consent of the Administrative Agent, which consent shall not be unreasonably
withheld, conditioned or delayed, (B) such Lender shall have received payment of an amount equal to the outstanding principal of its Loans,
accrued interest thereon, accrued fees and all other amounts payable to it hereunder, from the assignee or the Company and (C) in the
case of any such assignment and delegation resulting from the delivery of a Notice of Illegality under Section 2.18, it shall not be unlawful
under Federal or applicable state or foreign law for the assignee to make Loans or otherwise extend credit to or do business with the
Subsidiary in respect of which such Notice of Illegality was delivered. A Lender shall not be required to make any such assignment and
delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling the Company to require
such assignment and delegation cease to apply.

 

SECTION
2.18. Designation of Borrowing Subsidiaries. The Company may at any time and from time to time designate any Subsidiary
as a Borrowing Subsidiary by delivery to the Administrative Agent of a Borrowing Subsidiary Agreement executed by such Subsidiary and
the Company. As soon as practicable upon receipt thereof, the Administrative Agent will post a copy of such Borrowing Subsidiary Agreement
to the Lenders. Each Borrowing Subsidiary Agreement shall become effective on the date five Business Days after it has been posted by
the Administrative Agent to the Lenders (subject to the receipt by any Lender of any information reasonably requested by it not later
than the third Business Day after the posting of such Borrowing Subsidiary Agreement under the Patriot Act or other “know-your-customer”
laws including, to the extent such Subsidiary qualifies as a “legal entity customer” under the Beneficial Ownership Regulation,
a Beneficial Ownership Certification in relation to such Subsidiary), unless prior thereto the Administrative Agent shall have received
written notice from any Lender that it shall be unlawful under Federal or applicable state or foreign law or prohibited under such Lender’s
bona fide internal policies of general applicability for such Lender to make Loans or otherwise extend credit to or do business with such
Subsidiary (a “Notice of Illegality”), in which case such Borrowing Subsidiary Agreement shall not become effective
until such time as such Lender withdraws such Notice of Illegality or ceases to be a Lender hereunder pursuant to Section 2.17(b). Upon
the effectiveness of a Borrowing Subsidiary Agreement as provided in the preceding sentence, the applicable Subsidiary

 

    

     43

    

shall for all purposes of this
Agreement be a Borrowing Subsidiary and a party to this Agreement until the Company shall have executed and delivered to the Administrative
Agent a Borrowing Subsidiary Termination with respect to such Subsidiary, whereupon such Subsidiary shall cease to be a Borrowing Subsidiary
and a party to this Agreement. Notwithstanding the preceding sentence, no Borrowing Subsidiary Termination will become effective as to
any Borrowing Subsidiary at a time when any principal of or interest on any Loan to such Borrowing Subsidiary shall be outstanding hereunder,
provided that such Borrowing Subsidiary Termination shall be effective to terminate the right of such Borrowing Subsidiary to make
further Borrowings under this Agreement. As soon as practicable upon receipt of a Borrowing Subsidiary Agreement, the Administrative Agent
shall send a copy thereof to each Lender.

 

SECTION
2.19. Defaulting Lenders. (a) Notwithstanding any provision of this Agreement to the contrary, if any Lender becomes a
Defaulting Lender, then (i) commitment fees shall cease to accrue on the unused portion of the Commitment of such Defaulting Lender
pursuant to Section 2.10(a); and (ii) the Commitment and Revolving Loan Exposure of such Defaulting Lender shall be disregarded for
purposes of any determination of whether the Required Lenders or other requisite Lenders have taken or may take any action hereunder
(including any consent to any amendment, waiver or other modification pursuant to Section 10.02); provided that any waiver,
amendment or modification requiring the consent of all Lenders or each affected Lender shall require the consent of such Defaulting
Lender.

 

(b)
In the event that the Administrative Agent and the Company shall agree that a Defaulting Lender has adequately remedied all matters
that caused such Lender to be a Defaulting Lender, then on such date such Lender shall fund its Loan to each Borrower or purchase at par
Loans of the other Lenders (other than Competitive Loans), in each case as the Administrative Agent shall determine may be necessary in
order for such Lender to hold such Loans ratably in accordance with its Commitment. Such Lender shall cease to be a Defaulting Lender
upon remedying all matters to the satisfaction of the Administrative Agent and the Borrower that caused such Lender to be a Defaulting
Lender, including the funding of any Loan or the closing of the purchase of any Loan necessary in order for such Lender to hold such Loans
ratably in accordance with its Commitment.

 

ARTICLE
III

Representations and Warranties

 

The Company and each other Borrower
represents and warrants to the Lenders that:

 

SECTION
3.01. Organization; Powers. The Company and each of the Material Subsidiaries is duly organized, validly existing and in
good standing under the laws of the jurisdiction of its incorporation, has all requisite power and authority to carry on its business
as now conducted and, except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result
in a Material Adverse Effect, is

 

    

     44

    

qualified to do business in,
and is in good standing in, every jurisdiction where such qualification is required.

 

SECTION
3.02. Authorization; Enforceability. The Transactions are within the Company’s and each other Borrower’s corporate
powers and have been duly authorized by all necessary corporate and, if required, stockholder action. This Agreement has been duly executed
and delivered by the Company and each other Borrower and constitutes a legal, valid and binding obligation of each of them, enforceable
in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’
rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law.

 

SECTION
3.03. Governmental Approvals; No Conflicts. The Transactions (a) do not require any consent or approval of, registration
or filing with, or any other action by, any Governmental Authority, except such as have been obtained or made and are in full force and
effect and except as may be required under applicable securities laws and regulations, (b) will not violate any applicable law or
regulation or the charter, by-laws or other organizational documents of the Company or any other Borrower or any order of any Governmental
Authority, (c) will not violate or result in a default under any indenture, agreement or instrument governing Material Indebtedness
binding upon the Company or any Subsidiary or their assets, or give rise to a right thereunder to require any payment to be made by the
Company or any Subsidiary, and (d) will not result in the creation or imposition of any Lien on any asset of the Company or any Subsidiary
under any indenture, agreement or instrument governing Material Indebtedness.

 

SECTION
3.04. Financial Position; No Material Adverse Change.  (a) The Company has heretofore furnished to the Lenders its
consolidated balance sheet and statements of income, stockholders’ equity and cash flows as of and for the fiscal year ended
June 30, 2021 (the “Annual Financial Statements”), reported on by Deloitte & Touche LLP, independent
registered public accountants, certified by its chief financial officer as presenting fairly, in all material respects, the
financial position and results of operations of the Company and its consolidated subsidiaries on a consolidated basis in accordance
with GAAP consistently applied, and its consolidated balance sheet and statements of income, stockholders’ equity and cash
flows as of and for the fiscal quarters ended September 30, 2021, December 31, 2021 and March 31, 2022 (collectively, the
“Quarterly Financial Statements”), certified by one of its Financial Officers as presenting fairly, in all
material respects, the financial position and results of operations of the Company and its consolidated subsidiaries on a
consolidated basis in accordance with GAAP consistently applied, subject to normal year-end audit adjustments and the absence of
footnotes. The Annual Financial Statements and the Quarterly Financial Statements present fairly, in all material respects, the
financial position and results of operations and cash flows of the Company and the consolidated Subsidiaries as of such dates and
for such periods in accordance with GAAP, subject to, in the case of the Quarterly Financial Statements, normal year-end adjustments
and the absence of footnotes.

 

    

     45

    

(b)
Since March 31, 2022, there has been no material adverse change in the business, assets, operations, prospects or condition, financial
or otherwise, of the Company and the Subsidiaries, taken as a whole.

 

SECTION
3.05. Properties. The Company and each Material Subsidiary has good title to, or valid leasehold interests in, all its real
and personal property material to its business, except for minor defects in title that do not interfere with its ability to conduct its
business as currently conducted or to utilize such properties for their intended purposes and except where the failure to do so, individually
or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect.

 

SECTION
3.06. Litigation and Environmental Matters. (a) There are no actions, suits or proceedings by or before any arbitrator
or Governmental Authority pending against or, to the knowledge of the Company, threatened against or affecting the Company and its
Subsidiaries (i) as to which there is a reasonable possibility of an adverse determination and that, if adversely determined,
could reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect or (ii) that involve
this Agreement or the Transactions.

 

(b)
Except with respect to any other matters that, individually or in the aggregate, could not reasonably be expected to result in
a Material Adverse Effect, none of the Company and the Subsidiaries (i) has failed to comply with any Environmental Law or to obtain,
maintain or comply with any permit, license or other approval required under any Environmental Law, (ii) has become subject to any
Environmental Liability, (iii) has received notice of any claim with respect to any Environmental Liability or (iv) knows of
any basis for any Environmental Liability.

 

SECTION
3.07. Compliance with Laws and Agreements. The Company and each Material Subsidiary is in compliance with all laws, regulations
and orders of any Governmental Authority applicable to it or its property and all indentures, agreements and other instruments binding
upon it or its property, except where the failure to be in compliance, individually or in the aggregate, could not reasonably be expected
to result in a Material Adverse Effect.

 

SECTION
3.08. Federal Reserve Regulations. (a) Neither any Borrower nor any Subsidiary is engaged principally, or as a
substantial part of its activities, in the business of extending credit for the purpose of purchasing or carrying Margin Stock
(within the meaning of Regulation U).

 

(b)
No part of the proceeds of any Loan has been or will be used, whether directly or indirectly, and whether immediately, incidentally
or ultimately, to purchase or carry Margin Stock (as defined in Regulation U of the Board) or to refinance Indebtedness originally incurred
for such purpose, or in any manner or for any purpose that has resulted or will result in a violation of Regulation T, U or X of
the Board.

 

    

     46

    

SECTION
3.09. Investment Company Status. Neither any Borrower nor any of the Subsidiaries is an “investment company”
as defined in, or subject to regulation under, the Investment Company Act of 1940.

 

SECTION
3.10. Taxes. The Company and the Material Subsidiaries have timely filed or caused to be filed all Tax returns and reports
required to have been filed and have paid or caused to be paid all Taxes required to have been paid by them, except (a) any Taxes
that are being contested in good faith by appropriate proceedings and for which the Company or such Subsidiary has set aside on its books
adequate reserves or (b) to the extent that the failure to do so could not reasonably be expected to result in a Material Adverse
Effect.

 

SECTION
3.11. ERISA. No ERISA Event has occurred or is reasonably expected to occur that, when taken together with all other such
ERISA Events for which liability is reasonably expected to occur, could reasonably be expected to result in a Material Adverse Effect.
The present value of all accumulated benefit obligations under each Plan (based on the assumptions used for purposes of Statement of Financial
Accounting Standards No. 87) did not, as of the date of the most recent financial statements reflecting such amounts, exceed by more
than US$100,000,000 the fair market value of the assets of such Plan, and the present value of all accumulated benefit obligations of
all underfunded Plans (based on the assumptions used for purposes of Statement of Financial Accounting Standards No. 87) did not,
as of the date of the most recent financial statements reflecting such amounts, exceed by more than US$100,000,000 the fair market value
of the assets of all such underfunded Plans.

 

SECTION
3.12. Disclosure. Neither the Confidential Information Memorandum nor any of the other reports, financial statements, certificates
or other information furnished by or on behalf of the Borrowers to the Administrative Agent or any Lender in connection with the negotiation
of this Agreement or delivered hereunder (as modified or supplemented by other information so furnished) contains any material misstatement
of fact or omits to state any material fact necessary to make the statements therein, in the light of the circumstances under which they
were made, not misleading.

 

SECTION
3.13. Anti-Corruption Laws and Sanctions. The Company has implemented and will maintain and enforce policies and procedures
that are in the Company’s judgment appropriate to ensure compliance by the Company, its Subsidiaries, and their directors, officers,
employees and agents with applicable Anti-Corruption Laws and applicable Sanction Laws. None of the Company or any Subsidiary or, to the
knowledge of any Borrower, any of their directors, officers or employees, is a Sanctioned Person.

 

SECTION
3.14. Affected Financial Institution. No Borrower is an Affected Financial Institution (as defined in Section 10.17).

 

    

     47

    

ARTICLE
IV

Conditions

 

SECTION
4.01. Effective Date. This Agreement shall become effective on the date on which each of the following conditions is satisfied
(or waived in accordance with Section 10.02):

 

(a)
The Administrative Agent (or its counsel) shall have received from each party hereto either (i) a counterpart of this Agreement
signed on behalf of such party or (ii) written evidence satisfactory to the Administrative Agent (which may include facsimile or
e-mail transmission of a signed signature page of this Agreement) that such party has signed a counterpart of this Agreement.

 

(b)
The Administrative Agent shall have received a favorable written opinion (addressed to the Administrative Agent and the Lenders
and dated the Effective Date) of David Kwon, Esq., Chief Legal Officer of the Company, substantially in the form of Exhibit D, and covering
such other matters relating to the Company, this Agreement or the Transactions as the Required Lenders shall reasonably request. The Company
hereby requests such counsel to deliver such opinion.

 

(c)
The Administrative Agent shall have received such documents and certificates as the Administrative Agent or its counsel may reasonably
request relating to the organization, existence and good standing of the Borrowers, the authorization of the Transactions and any other
legal matters relating to the Borrowers, this Agreement or the Transactions, all in form and substance satisfactory to the Administrative
Agent and its counsel.

 

(d)
The Administrative Agent shall have received a certificate, dated the Effective Date and signed by the President, a Vice President
or a Financial Officer of the Company, confirming compliance with the conditions set forth in paragraphs (a) and (b) of Section 4.02
(without giving effect to the parenthetical in such paragraph (a)).

 

(e)
The Administrative Agent shall have received all fees and other amounts due and payable on or prior to the Effective Date, including,
to the extent invoiced, reimbursement or payment of all out-of-pocket expenses required to be reimbursed or paid by the Company hereunder.

 

(f)
The commitments under the Existing Credit Agreement shall have been or shall simultaneously be terminated and the principal of
and interest accrued on all loans outstanding thereunder and all fees and other amounts accrued or owing thereunder shall have been or
shall simultaneously be paid in full.

 

    

     48

    

The Administrative Agent shall notify the Company
and the Lenders of the Effective Date, and such notice shall be conclusive and binding. Notwithstanding the foregoing, the obligations
of the Lenders to make Loans shall not become effective unless each of the foregoing conditions is satisfied (or waived pursuant to Section
10.02) at or prior to 5:00 p.m., New York City time, on July 1, 2022 (and, in the event such conditions are not so satisfied
or waived, the Commitments shall terminate at such time).

 

SECTION
4.02. Each Credit Event. The obligation of each Lender to make a Loan on the occasion of any Borrowing is subject to the
satisfaction of the following conditions:

 

(a)
The representations and warranties of the Borrowers set forth in this Agreement (other than the representations set forth in Sections
3.04(b) and 3.06(a)) shall be true and correct in all material respects on and as of the date of such Borrowing.

 

(b)
At the time of and immediately after giving effect to such Borrowing, no Default shall have occurred and be continuing.

 

Each Borrowing shall be deemed to constitute a
representation and warranty by the Borrowers on the date thereof as to the matters specified in paragraphs (a) and (b) of this
Section.

 

SECTION
4.03. Initial Credit Event for each Borrowing Subsidiary. The obligation of each Lender to make Loans to any Borrowing Subsidiary
is subject to the satisfaction of the following conditions:

 

(a)
The Administrative Agent (or its counsel) shall have received a Borrowing Subsidiary Agreement of such Borrowing Subsidiary duly
executed by all parties thereto.

 

(b)
The Administrative Agent shall have received such documents, legal opinions and certificates as the Administrative Agent or its
counsel may reasonably request relating to the formation, existence and good standing of such Borrowing Subsidiary, the authorization
of the Transactions insofar as they relate to such Borrowing Subsidiary and any other legal matters relating to such Borrowing Subsidiary,
its Borrowing Subsidiary Agreement or such Transactions, all in form and substance satisfactory to the Administrative Agent and its counsel.

 

ARTICLE
V

 

Affirmative Covenants

 

Until the Commitments have expired
or been terminated and the principal of and interest on each Loan and all fees and other amounts payable hereunder shall have been paid
in full, the Company and each other Borrower covenants and agrees with the Lenders that:

 

SECTION
5.01. Financial Statements and Other Information. The Company will furnish to the Administrative Agent:

 

    

     49

    

(a)
within 90 days after the end of each fiscal year of the Company, its audited consolidated balance sheet and related statements
of operations, stockholders’ equity and cash flows as of the end of and for such year, setting forth in each case in comparative
form the figures for the previous fiscal year, all reported on by Deloitte & Touche LLP or other independent public accountants of
recognized national standing (without a “going concern” or like qualification or exception and without any qualification or
exception as to the scope of such audit) to the effect that such consolidated financial statements present fairly, in all material respects,
the financial position and results of operations of the Company and its consolidated subsidiaries on a consolidated basis in accordance
with GAAP consistently applied;

 

(b)
within 45 days after the end of each of the first three fiscal quarters of each fiscal year of the Company, its consolidated
balance sheet and related statements of operations, stockholders’ equity and cash flows as of the end of and for such fiscal quarter
and the then elapsed portion of the fiscal year, setting forth in each case in comparative form the figures for the corresponding period
or periods of (or, in the case of the balance sheet, as of the end of) the previous fiscal year, all certified by one of its Financial
Officers as presenting fairly, in all material respects, the financial position and results of operations of the Company and its consolidated
subsidiaries on a consolidated basis in accordance with GAAP consistently applied, subject to normal year-end audit adjustments and the
absence of footnotes;

 

(c)
concurrently with any delivery of financial statements under clause (a) or (b) above, a certificate of a Financial Officer
of the Company certifying as to whether a Default has occurred and, if a Default has occurred, specifying the details thereof and
any action taken or proposed to be taken with respect thereto;

 

(d)
promptly after the same become publicly available, copies of all periodic and other reports, proxy statements and other materials
filed by the Company or any of its subsidiaries with the Securities and Exchange Commission, or any Governmental Authority succeeding
to any or all of the functions of said Commission, or with any national securities exchange, or distributed by the Company to its shareholders
generally, as the case may be; and

 

(e)
promptly following any request therefor, such other information regarding the operations, business affairs and financial position
of the Company or any of its subsidiaries, or compliance with the terms of this Agreement, as the Administrative Agent or any Lender may
reasonably request.

 

Reports required to be delivered pursuant to subsections
(a), (b) and (d) of this Section 5.01 shall be deemed to have been delivered on the date on which the Company posts such reports
on the Company’s website on the Internet at www.adp.com or when such report is posted on the SEC’s website at www.sec.gov;
provided that the Company shall deliver paper copies of the reports referred
to in subsection (a), (b) and (d) of this Section 5.01 to the Administrative Agent or any Lender who requests the Company to deliver such
paper copies until written notice to cease delivering paper copies is given by the Administrative 

 

    

     50

    

Agent
or such Lender. The Administrative Agent shall promptly make available to each Lender a copy of the certificate to be delivered pursuant
to subsection (c) of this Section 5.01 by posting such certificate on IntraLinks or by other similar means.

 

SECTION
5.02. Notices of Material Events. The Company will furnish to the Administrative Agent and each Lender prompt written notice
(in any case within five Business Days) of the following:

 

(a)
the occurrence of any Default;

 

(b)
the filing or commencement of any action, suit or proceeding by or before any arbitrator or Governmental Authority against or affecting
the Company or any Subsidiary as to which there is a reasonable possibility of an adverse determination and that, if adversely determined,
could reasonably be expected to result in a Material Adverse Effect; and

 

(c)
any other development that results in, or could reasonably be expected to result in, a Material Adverse Effect.

 

Each notice delivered under this Section shall
be accompanied by a statement of a Financial Officer or other executive officer of the Company setting forth the details of the event
or development requiring such notice and any action taken or proposed to be taken with respect thereto.

 

SECTION
5.03. Existence; Conduct of Business. The Company will, and will cause each other Borrower to, do or cause to be done all
things necessary to preserve, renew and keep in full force and effect its legal existence and the rights, licenses, permits, privileges
and franchises material to the conduct of its business; provided that the foregoing shall not prohibit any merger, consolidation,
liquidation or dissolution permitted under Section 6.03.

 

SECTION
5.04. Payment of Taxes. The Company will, and will cause each Material Subsidiary to, pay its Tax liabilities, that, if
not paid, could result in a Material Adverse Effect before the same shall become delinquent or in default, except where (a) the validity
or amount thereof is being contested in good faith by appropriate proceedings, (b) the Company or such Subsidiary has set aside on
its books adequate reserves with respect thereto in accordance with GAAP and (c) the failure to make payment pending such contest
could not reasonably be expected to result in a Material Adverse Effect.

 

SECTION
5.05. Maintenance of Properties. The Company will, and will cause each Material Subsidiary to, keep and maintain all property
material to the conduct of its business in good working order and condition, ordinary wear and tear excepted.

 

SECTION
5.06. Books and Records; Inspection Rights. The Company will keep proper books of record and account in which full, true
and correct entries are made of all dealings and transactions in relation to its business and activities. The Company will permit any
representatives designated by the Administrative Agent, or by any Lender through the Administrative Agent, at reasonable times and upon
reasonable prior notice, to

 

    

     51

    

visit and inspect its properties,
to examine and make extracts from its books and records, and to discuss its affairs, finances and condition with its officers.

 

SECTION
5.07. Compliance with Laws. The Company will, and will cause each Material Subsidiary to, comply with all laws, rules, regulations
and orders of any Governmental Authority applicable to it or its property (including ERISA and environmental laws), except where the failure
to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. The Company will
maintain and enforce policies and procedures that are in the Company’s judgment appropriate to ensure compliance by the Company,
its Subsidiaries, and their directors, officers, employees and agents with applicable Anti-Corruption Laws and applicable Sanction Laws.

 

SECTION
5.08. Use of Proceeds. (a) The proceeds of the Loans will be used only for general corporate purposes, including the
refinancing of any indebtedness outstanding on the Effective Date under the Existing Credit Agreement. No part of the proceeds of
any Loan will be used, whether directly or indirectly, to purchase or carry Margin Stock (as defined in Regulation U of the Board)
or to refinance Indebtedness originally incurred for such purpose, or in any manner or for any purpose that will result in a
violation of Regulation T, U or X of the Board.

 

(b)
The proceeds of any Borrowing will not knowingly be used by the Borrowers or their Subsidiaries for the purpose of (i) making or
furthering a payment, a promise to pay or an offer of money or value to any Person in violation of applicable Anti-Corruption Laws, (ii)
financing any activity or transaction of or with any Sanctioned Person or in any Sanctioned Country, to the extent such activities or
transactions would be prohibited by Sanction Laws if conducted by a corporation incorporated in the United States or (iii) carrying out
any other transaction that would result in the violation of any applicable Sanction Laws.

 

ARTICLE
VI

 

Negative Covenants

 

Until the Commitments have expired
or terminated and the principal of and interest on each Loan and all fees and other amounts payable hereunder have been paid in full,
the Company and each other Borrower covenants and agrees with the Lenders that:

 

SECTION
6.01. Liens. The Company will not, and will not permit any Subsidiary to, create, incur, assume or permit to exist any Lien
on any property or asset now owned or hereafter acquired by it, or assign or sell any income or revenues (including accounts receivable)
or rights in respect thereof, except:

 

(a)
Permitted Encumbrances;

 

(b)
any Lien on any property or asset of the Company or any Subsidiary existing on the date hereof and set forth in Schedule 6.01;
provided that (i) such Lien shall not apply to any other property or asset of any of the Borrowers or any

 

    

     52

    

of their Subsidiaries and (ii) such
Lien shall secure only those obligations which it secures on the date hereof and extensions, renewals and replacements thereof that do
not increase the outstanding principal amount thereof;

 

(c)
any Lien existing on any property or asset prior to the acquisition thereof by the Company or any Subsidiary or existing on any
property or asset of any Person that becomes a Subsidiary after the date hereof prior to the time such Person becomes a Subsidiary; provided
that (i) such Lien is not created in contemplation of or in connection with such acquisition or such Person becoming a Subsidiary,
as the case may be, (ii) such Lien shall not apply to any other property or assets of any of the Company or any Subsidiary and (iii) such
Lien shall secure only those obligations which it secures on the date of such acquisition or the date such Person becomes a Subsidiary,
as the case may be, and extensions, renewals and replacements thereof that do not increase the outstanding principal amount thereof;

 

(d)
Liens on fixed or capital assets acquired, constructed or improved by the Company or any Subsidiary; provided that (i) such
Liens and the Indebtedness secured thereby are incurred prior to or within 90 days after such acquisition or the completion of such
construction or improvement, (ii) the Indebtedness secured thereby does not exceed the cost of acquiring, constructing or improving
such fixed or capital assets and (iii) such security interests shall not apply to any other property or assets of the Company or
any Subsidiary;

 

(e)
Liens on securities deemed to exist under repurchase agreements and reverse repurchase agreements entered into by the Company and
the Subsidiaries; and

 

(f)
other Liens not expressly permitted by clauses (a) through (e) above; provided that the sum of (i) the aggregate principal
amount of outstanding obligations secured by Liens permitted under this clause (f) and (ii) the Attributable Debt permitted by Section
6.02(b) does not at any time exceed 25% of Consolidated Net Worth. For the avoidance of doubt, the Company may treat obligations that
appear on its consolidated balance sheet arising from factoring or other financing arrangements pursuant to which it or any subsidiary
sells accounts receivable as being secured by a Lien for purposes of this Section 6.01(f).

 

SECTION
6.02. Sale and Leaseback Transactions. The Company will not, and will not permit any of its Subsidiaries to, enter into
any Sale and Leaseback Transaction except:

 

(a)
Sale and Leaseback Transactions to which the Borrower or any Subsidiary is a party as of the date hereof; and

 

(b)
other Sale and Leaseback Transactions; provided that the sum of (i) the aggregate principal amount of outstanding obligations
secured by Liens permitted by Section 6.01(f) and (ii) the aggregate Attributable Debt in respect of Sale and

 

    

     53

    

Leaseback Transactions
permitted by this clause (b) does not at any time exceed 25% of Consolidated Net Worth.

 

SECTION
6.03. Fundamental Changes. Neither the Company nor any other Borrower will merge into or consolidate with any other Person,
or permit any other Person to merge into or consolidate with it, or sell, transfer, lease or otherwise dispose of (in one transaction
or in a series of transactions and including by means of any merger or sale of capital stock or otherwise) all or substantially all of
its assets (whether now owned or hereafter acquired), or liquidate or dissolve, except that, if at the time thereof and immediately after
giving effect thereto no Default shall have occurred and be continuing or would result from such transaction, the Company or any Borrower
may merge or consolidate with any Person if (a) the Company or such Borrower, as the case may be, is the surviving Person or (b) the surviving
Person (i) is organized under the laws of The United States of America or, in the case of a merger or consolidation of a Borrower other
than the Company, the jurisdiction of organization of such Borrower, and (ii) assumes in writing all of the Company’s or such Borrower’s
obligations under this Agreement pursuant to documentation reasonably satisfactory to the Administrative Agent, such satisfaction to be
based solely upon the validity and enforceability of the assumption contained in such documentation.

 

ARTICLE
VII

 

Events of Default

 

If any of the following events
(“Events of Default”) shall occur:

 

(a)
the Company or any other Borrower shall fail to pay any principal of any Loan, when and as the same shall become due and payable,
whether at the due date thereof or at a date fixed for prepayment thereof or otherwise;

 

(b)
the Company or any other Borrower shall fail to pay any interest on any Loan or any fee or any other amount (other than an amount
referred to in clause (a) of this Article) payable under this Agreement, when and as the same shall become due and payable, and such
failure shall continue unremedied for a period of three Business Days;

 

(c)
any representation or warranty made or deemed made by or on behalf of the Company or any Borrower in or in connection with this
Agreement or any amendment or modification hereof or waiver hereunder, or in any report, certificate, financial statement or other document
furnished pursuant to or in connection with this Agreement or any amendment or modification hereof or waiver hereunder, shall prove to
have been incorrect in any material respect when made or deemed made;

 

(d)
the Company or any Borrower shall fail to observe or perform any covenant, condition or agreement contained in Section 5.02,
5.03 (with respect to the Company’s or such Borrower’s existence) or 5.08 or in Article VI;

 

    

     54

    

(e)
the Company or any Borrower shall fail to observe or perform any covenant, condition or agreement contained in this Agreement (other
than those specified in clause (a), (b) or (d) of this Article), and such failure shall continue unremedied for a period of
30 days after notice thereof from the Administrative Agent or any Lender to the Company;

 

(f)
the Company or any Subsidiary shall default in the payment of any Material Indebtedness when and as due, or any event or condition
shall occur that results in any Material Indebtedness becoming due prior to its scheduled maturity; provided, that if the maturity
of any Material Indebtedness of a Person acquired directly or indirectly by the Company after the date hereof shall be accelerated by
reason of such acquisition, no Event of Default under this paragraph (f) shall be deemed to have occurred with respect to such Material
Indebtedness so long as such acceleration shall have been rescinded, or such Material Indebtedness shall have been repaid, within five
Business Days following the date of such acceleration;

 

(g)
an involuntary proceeding shall be commenced or an involuntary petition shall be filed seeking (i) liquidation, reorganization
or other relief in respect of the Company or any Material Subsidiary or its debts, or of a substantial part of its assets, under any Federal,
state or foreign 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 the Company or any Material Subsidiary or for a substantial part
of its assets, and, in any such case, such proceeding or petition shall continue undismissed for 60 days or an order or decree approving
or ordering any of the foregoing shall be entered;

 

(h)
the Company or any Material Subsidiary shall (i) voluntarily commence any proceeding or file any petition seeking liquidation,
reorganization or other relief under any Federal, state or foreign 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 (g) of this Article, (iii) apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator,
conservator or similar official for the Company or any Material Subsidiary 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 action for the purpose of effecting any of the foregoing; or

 

(i)
the Company or any Material Subsidiary shall become unable, admit in writing its inability, or fail generally, to pay its debts
as they become due;

 

then, and in every such event (other than an event
with respect to any Borrower described in clause (g) or (h) of this Article), and at any time thereafter during the continuance of such
event, the Administrative Agent may, and at the request of the Required Lenders shall, by notice to the Company, take either or both of
the following actions, at the same or different times:  (i) terminate the Commitments, and thereupon the Commitments shall
terminate immediately, and (ii) declare the Loans then outstanding to be due and payable

 

    

     55

    

in whole (or in part, in which case any principal
or other amount not so declared to be due and payable may thereafter be declared to be due and payable), and thereupon the principal of
the Loans so declared to be due and payable, together with accrued interest thereon and all fees and other obligations of the Borrowers
accrued hereunder, shall become due and payable immediately, without presentment, demand, protest or other notice of any kind, all of
which are hereby waived by the Borrowers; and in case of any event with respect to any of the Borrowers described in clause (g) or (h)
of this Article, the Commitments shall automatically terminate and the principal of the Loans then outstanding, together with accrued
interest thereon and all fees and other obligations of the Borrowers accrued hereunder, shall automatically become due and payable, without
presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrowers.

 

ARTICLE
VIII

 

The Administrative Agent

 

In order to expedite the transactions
contemplated by this Agreement, the Person named in the heading of this Agreement is hereby appointed to act as Administrative Agent on
behalf of the Lenders. Each of the Lenders and each assignee of any Lender hereby irrevocably authorizes the Administrative Agent to take
such actions on behalf of such Lender or assignee and to exercise such powers as are delegated to the Administrative Agent by the terms
of the Loan Documents, together with such actions and powers as are reasonably incidental thereto. The Administrative Agent is hereby
expressly authorized by the Lenders, without hereby limiting any implied authority, and by the Borrowers with respect to clause (c) below,
(a) to receive on behalf of the Lenders all payments of principal of and interest on the Loans and all other amounts due to the Lenders
hereunder, and promptly to distribute to each Lender its proper share of each payment so received; (b) to give notice on behalf of
each of the Lenders to the Company of any Default or Event of Default specified in this Agreement of which the Administrative Agent has
actual knowledge acquired in connection with its agency hereunder; and (c) to distribute to each Lender copies of all notices, financial
statements and other materials delivered by the Company or any other Borrower pursuant to this Agreement or the other Loan Documents as
received by the Administrative Agent.

 

With respect to the Loans made
by it hereunder, the Administrative Agent in its individual capacity and not as the Administrative Agent shall have the same rights and
powers as any other Lender and may exercise the same as though it were not the Administrative Agent, and the Administrative Agent and
its Affiliates may accept deposits from, lend money to and generally engage in any kind of business with any of the Borrowers or any of
their Subsidiaries or other Affiliates thereof as if it were not the Administrative Agent.

 

The Administrative Agent shall
not have any duties or obligations except those expressly set forth in the Loan Documents. Without limiting the generality of the foregoing,
(a) the Administrative Agent shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred
and is continuing, (b) the Administrative Agent shall not have any duty to take any discretionary action or exercise

 

    

     56

    

any discretionary powers, except
discretionary rights and powers expressly contemplated by the Loan Documents that the Administrative Agent is required to exercise upon
receipt of notice in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the
circumstances as provided in Section 10.02), and (c) except as expressly set forth in the Loan Documents, the Administrative Agent shall
not have any duty to disclose, and the Administrative Agent shall not be liable for the failure to disclose, any information relating
to any of the Borrowers or any of their Subsidiaries that is communicated to or obtained by the institution serving as the Administrative
Agent or any of its Affiliates in any capacity. The Administrative Agent shall not be liable for any action taken or not taken by it with
the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the
circumstances as provided in Section 10.02) or in the absence of its own gross negligence or willful misconduct. The Administrative
Agent shall not be deemed to have knowledge of any Default unless and until written notice thereof is given to the Administrative Agent
by a Borrower (in which case the Administrative Agent shall give written notice to each other Lender), and the Administrative Agent shall
not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in or in
connection with any Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or thereunder
or in connection herewith or therewith, (iii) the performance or observance of any of the covenants, agreements or other terms or
conditions set forth herein or therein, (iv) the validity, enforceability, effectiveness or genuineness of any Loan Document or any
other agreement, instrument or document or (v) the satisfaction of any condition set forth in Article IV or elsewhere in any
Loan Document, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent.

 

The Administrative Agent shall
be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument,
document or other writing believed by it to be genuine and to have been signed or sent by the proper Person. The Administrative Agent
also may rely upon any statement made to it orally or by telephone and believed by it to be made by the proper Person, and shall not incur
any liability for relying thereon. The Administrative Agent may consult with legal counsel (who may be counsel for any Borrower), independent
accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice
of any such counsel, accountants or experts.

 

The Administrative Agent may
perform any and all its duties and exercise its rights and powers by or through any one or more sub-agents, which may include any of its
branches or affiliates, appointed by the Administrative Agent. The Administrative Agent and any such sub-agent may perform any and all
its duties and exercise its rights and powers through their respective Related Parties. The exculpatory provisions of the preceding paragraphs
shall apply to any such sub-agent and to the Related Parties of the Administrative Agent and any such sub-agent, and shall apply to their
respective activities in connection with the syndication of the credit facilities provided for herein as well as activities as the Administrative
Agent.

 

    

     57

    

Subject to the appointment and
acceptance of a successor Administrative Agent as provided in this paragraph, the Administrative Agent may resign at any time by notifying
the Lenders and the Company. Upon any such resignation, the Required Lenders shall have the right, with the consent of the Company (not
to be unreasonably withheld, conditioned or delayed and except during the continuance of an Event of Default hereunder, when no consent
shall be required), to appoint a successor. In addition, if the Administrative Agent is a Defaulting Lender due to it having had a receiver,
conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with the reorganization or liquidation
of its business or custodian appointed for it, the Required Lenders shall have the right, by notice in writing to the Company and the
Administrative Agent, to remove the Administrative Agent in its capacity as such and, with the consent of the Company (not to be unreasonably
withheld, conditioned or delayed and except during the continuance of an Event of Default hereunder, when no consent shall be required),
to appoint a successor. If (a) no successor to a retiring Administrative Agent shall have been so appointed by the Required Lenders and
shall have accepted such appointment within 30 days after the retiring Administrative Agent gives notice of its resignation, then
the retiring Administrative Agent may, on behalf of the Lenders, appoint a successor Administrative Agent which shall be a bank with an
office in New York, New York, or an Affiliate of any such bank or (b) no successor to a removed Administrative Agent shall have
been so appointed and shall have accepted such appointment within 30 days following the issuance of a notice of removal, the removal
shall become effective on such 30th day and on such date the Required Lenders shall succeed as Administrative Agent to such
removed Administrative Agent. Upon the acceptance of its appointment as Administrative Agent hereunder by a successor, such successor
shall succeed to and become vested with all the rights, powers, privileges and duties of the retiring or removed Administrative Agent,
as the case may be, and such retiring or removed Administrative Agent shall be discharged from its duties and obligations hereunder. After
the Administrative Agent’s resignation or removal, as the case may be, hereunder, the provisions of this Article and Section 10.03
shall continue in effect for the benefit of such retiring or removed Administrative Agent, as the case may be. its sub-agents and their
respective Related Parties in respect of any actions taken or omitted to be taken by any of them while it was acting as Administrative
Agent.

 

Each Lender agrees (a) to
reimburse the Administrative Agent, on demand, in the amount of its pro rata share (based on the amount of its Loans and available Commitments
hereunder) of any expenses incurred for the benefit of the Lenders by the Administrative Agent, including counsel fees and compensation
of agents and employees paid for services rendered on behalf of the Lenders, that shall not have been reimbursed by the Company or any
other Borrower and (b) to indemnify and hold harmless the Administrative Agent and any of its Related Parties, on demand, in the
amount of such pro rata share, from and against any and all liabilities, taxes, obligations, losses, damages, penalties, actions,
judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever that may be imposed on, incurred by or asserted against
it in its capacity as Administrative Agent or any of them in any way relating to or arising out of this Agreement or any other Loan Document
or action taken or omitted by it or any of them under this Agreement or any other Loan Document, to the extent the same shall not have
been reimbursed by the Company or any other Borrower; provided that no Lender shall be liable

 

    

     58

    

to the Administrative Agent
or any such other indemnified Person for any portion of such liabilities, taxes, obligations, losses, damages, penalties, actions, judgments,
suits, costs, expenses or disbursements that are determined to have resulted from the gross negligence or willful misconduct of the Administrative
Agent, and any of its Related Parties or any of their respective directors, officers, employees or agents.

 

Each Lender acknowledges that
it has, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents and information
as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender also acknowledges that
it will, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents and information
as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon
this Agreement, any other Loan Document or related agreement or any document furnished hereunder or thereunder.

 

None of the Lenders identified
on the facing page or signature pages of this Agreement or elsewhere herein as a “syndication agent” or “documentation
agent” shall have any right, power, obligation, liability, responsibility or duty under this Agreement other than those applicable
to all Lenders as such.

 

Each Lender hereby agrees that
(x) if the Administrative Agent notifies such Lender that the Administrative Agent has determined in its sole discretion that
any funds received by such Lender from the Administrative Agent or any of its Affiliates (whether as a payment, prepayment or repayment
of principal, interest, fees or otherwise; individually and collectively, a “Payment”) were erroneously transmitted
to such Lender (whether or not known to such Lender), and demands the return of such Payment (or a portion thereof), such Lender shall
promptly, but in no event later than one Business Day thereafter, return to the Administrative Agent the amount of any such Payment (or
portion thereof) as to which such a demand was made in same day funds, together with interest thereon in respect of each day from and
including the date such Payment (or portion thereof) was received by such Lender to the date such amount is repaid to the Administrative
Agent at the greater of the NYFRB Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on
interbank compensation from time to time in effect, and (y) to the extent permitted by applicable law, such Lender shall not assert, and
hereby waives, as to the Administrative Agent, any claim, counterclaim, defense or right of set-off or recoupment with respect to any
demand, claim or counterclaim by the Administrative Agent for the return of any Payments received, including without limitation any defense
based on “discharge for value” or any similar doctrine. A notice of the Administrative Agent to any Lender under this paragraph
or the following paragraph shall be conclusive, absent manifest error.

 

Each Lender hereby further agrees
that if it receives a Payment from the Administrative Agent or any of its Affiliates (x) that is in a different amount than, or on
a different date from, that specified in a notice of payment sent by the Administrative Agent (or any of its Affiliates) with respect
to such Payment (a “Payment Notice”) or (y) that was not preceded or accompanied by a Payment Notice, it shall be on
notice, in each such case,

 

    

     59

    

that an error has been made
with respect to such Payment.  Each Lender agrees that, in each such case, or if it otherwise becomes aware a Payment (or portion
thereof) may have been sent in error, such Lender shall promptly notify the Administrative Agent of such occurrence and, upon demand from
the Administrative Agent, it shall promptly, but in no event later than one Business Day thereafter, return to the Administrative Agent
the amount of any such Payment (or portion thereof) as to which such a demand was made in same day funds, together with interest thereon
in respect of each day from and including the date such Payment (or portion thereof) was received by such Lender to the date such amount
is repaid to the Administrative Agent at the greater of the NYFRB Rate and a rate determined by the Administrative Agent in accordance
with banking industry rules on interbank compensation from time to time in effect.

 

Each Borrower hereby agrees
that in the event an erroneous Payment (or portion thereof) is not recovered from any Lender that has received such erroneous Payment
(or portion thereof) for any reason, (x) the Administrative Agent shall be subrogated to all the rights of such Lender with respect to
such amount and (y) an erroneous Payment shall not pay, prepay, repay, discharge or otherwise satisfy any Obligations owed by any Borrower,
except, in each case, to the extent such erroneous Payment is, and solely with respect to the amount of such erroneous Payment that is,
comprised of funds received by the Administrative Agent from any Borrower for the purpose of satisfying Obligations.

 

Each party’s obligations
under the preceding three paragraphs shall survive the resignation or replacement of the Administrative Agent or any transfer of rights
or obligations by, or the replacement of, a Lender, the termination of the Commitments or the repayment, satisfaction or discharge of
all Obligations under any Loan Document.

 

Each Lender (x) represents and
warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party
hereto to the date such Person ceases being a Lender party hereto, for the benefit of the Administrative Agent, the Arrangers and their
respective Affiliates, and not, for the avoidance of doubt, to or for the benefit of the Company or any Subsidiary, that at least one
of the following is and will be true: (i) such Lender is not using “plan assets” (within the meaning of Section 3(42) of ERISA
or otherwise) of one or more Benefit Plans in connection with the Loans or the Commitments, (ii) the transaction exemption set forth in
one or more PTEs, such as PTE 84-14 (a class exemption for certain transactions determined by independent qualified professional asset
managers), PTE 95-60 (a class exemption for certain transactions involving insurance company general accounts), PTE 90-1 (a class exemption
for certain transactions involving insurance company pooled separate accounts), PTE 91-38 (a class exemption for certain transactions
involving bank collective investment funds) or PTE 96-23 (a class exemption for certain transactions determined by in-house asset managers),
is applicable with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the
Commitments and this Agreement, (iii) (A) such Lender is an investment fund managed by a “Qualified Professional Asset Manager”
(within the meaning of Part VI of PTE 84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of
such Lender to enter into, participate in, administer and perform the Loans, the Commitments and this Agreement, (C) the entrance into,
participation in, administration

 

    

     60

    

of and performance of the Loans,
the Commitments and this Agreement satisfies the requirements of sub-sections (b) through (g) of Part I of PTE 84-14 and (D) to the best
knowledge of such Lender, the requirements of subsection (a) of Part I of PTE 84-14 are satisfied with respect to such Lender’s
entrance into, participation in, administration of and performance of the Loans, the Commitments and this Agreement, or (iv) such other
representation, warranty and covenant as may be agreed in writing between the Administrative Agent, in its sole discretion, and such Lender.

 

In addition, unless sub-clause
(i) in the immediately preceding paragraph is true with respect to a Lender or a Lender has provided another representation, warranty
and covenant as provided in accordance with sub-clause (iv) in the immediately preceding paragraph, such Lender further (x) represents
and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender
party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent, the Arrangers and
their respective Affiliates, and not, for the avoidance of doubt, to or for the benefit of the Company or any Subsidiary, that none of
the Administrative Agent, the Arrangers or any of their respective Affiliates is a fiduciary with respect to the assets of such Lender
involved in such Lender’s entrance into, participation in, administration of and performance of the Loans, the Commitments and this
Agreement (including in connection with the reservation or exercise of any rights by the Administrative Agent under this Agreement, any
Loan Document or any documents related to hereto or thereto).

 

The Administrative Agent and
the Arrangers hereby inform the Lenders that each such Person is not undertaking to provide impartial investment advice, or to give advice
in a fiduciary capacity, in connection with the transactions contemplated hereby, and that such Person has a financial interest in the
transactions contemplated hereby in that such Person or an Affiliate thereof (i) may receive interest or other payments with respect to
the Loans, the Commitments and this Agreement, (ii) may recognize a gain if it extended the Loans or the Commitments for an amount less
than the amount being paid for an interest in the Loans or the Commitments by such Lender or (iii) may receive fees or other payments
in connection with the transactions contemplated hereby, the Loan Documents or otherwise, including structuring fees, commitment fees,
arrangement fees, facility fees, upfront fees, underwriting fees, ticking fees, agency fees, administrative agent or collateral agent
fees, utilization fees, minimum usage fees, letter of credit fees, fronting fees, deal-away or alternate transaction fees, amendment fees,
processing fees, term out premiums, banker’s acceptance fees, breakage or other early termination fees or fees similar to the foregoing.

 

ARTICLE
IX

 

Guarantee

 

In order to induce the Lenders
to extend credit to the other Borrowers hereunder, the Company hereby irrevocably and unconditionally guarantees, as a primary obligor
and not merely as a surety, the payment when and as due of the Obligations of such other Borrowers. The Company further agrees that the
due and punctual payment of such

 

    

     61

    

Obligations may be extended
or renewed, in whole or in part, without notice to or further assent from it, and that it will remain bound upon its guarantee hereunder
notwithstanding any such extension or renewal of any such Obligation.

 

The Company waives presentment
to, demand of payment from and protest to any Borrower of any of the Obligations, and also waives notice of acceptance of its obligations
and notice of protest for nonpayment. The obligations of the Company hereunder shall not be affected by (a) the failure of the Administrative
Agent or any Lender to assert any claim or demand or to enforce any right or remedy against any Borrower under the provisions of this
Agreement, any other Loan Document or otherwise; (b) any extension or renewal of any of the Obligations; (c) any rescission,
waiver, amendment or modification of, or release from, any of the terms or provisions of this Agreement or any other Loan Document or
agreement; (d) any default, failure or delay, willful or otherwise, in the performance of any of the Obligations; or (e) any
other act, omission or delay to do any other act which may or might in any manner or to any extent vary the risk of the Company or otherwise
operate as a discharge of a guarantor as a matter of law or equity or which would impair or eliminate any right of the Company to subrogation.

 

The Company further agrees that
its agreement hereunder constitutes a guarantee of payment when due (whether or not any bankruptcy or similar proceeding shall have stayed
the accrual or collection of any of the Obligations or operated as a discharge thereof) and not merely of collection, and waives any right
to require that any resort be had by the Administrative Agent or any Lender to any balance of any deposit account or credit on the books
of the Administrative Agent or any Lender in favor of any Borrower or any other Person.

 

The obligations of the Company
hereunder shall not be subject to any reduction, limitation, impairment or termination for any reason, and shall not be subject to any
defense or set-off, counterclaim, recoupment or termination whatsoever, by reason of the invalidity, illegality or unenforceability of
any of the Obligations, any impossibility in the performance of any of the Obligations or otherwise.

 

The Company further agrees that
its obligations hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof,
of any Obligation is rescinded or must otherwise be restored by the Administrative Agent or any Lender upon the bankruptcy or reorganization
of any Borrower or otherwise.

 

In furtherance of the foregoing
and not in limitation of any other right which the Administrative Agent or any Lender may have at law or in equity against the Company
by virtue hereof, upon the failure of any other Borrower to pay any Obligation when and as the same shall become due, whether at maturity,
by acceleration, after notice of prepayment or otherwise, the Company hereby promises to and will, upon receipt of written demand by the
Administrative Agent or any Lender, forthwith pay, or cause to be paid, to the Administrative Agent or such Lender in cash an amount equal
to the unpaid principal amount of such Obligations then due, together with accrued and unpaid interest thereon.

 

    

     62

    

Upon payment by the Company
of any sums as provided above, all rights of the Company against any Borrower arising as a result thereof by way of right of subrogation
or otherwise shall in all respects be subordinated and junior in right of payment to the prior indefeasible payment in full of all the
Obligations owed by such Borrower to the Administrative Agent and the Lenders.

 

Nothing shall discharge or satisfy
the liability of the Company hereunder except the full performance and payment of the Obligations.

 

ARTICLE
X

 

Miscellaneous

 

SECTION
10.01. Notices. (a) Except in the case of notices and other communications expressly permitted to be given by
telephone (and subject to paragraph (b) below), all notices and other communications provided for herein shall be in writing
and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by telecopy, as
follows:

 

(i)
if to any Borrower, to Automatic Data Processing, Inc., One ADP Boulevard, MS #420, Roseland, NJ 07068-1728, Attention of Treasurer
(Fax No. 973-974-3320), with a copy to Automatic Data Processing, Inc., One ADP Boulevard, MS #450, Roseland, NJ 07068-1728, Attention
of Chief Legal Officer (Fax No. 973-974-3324);

 

(ii)
if to the Administrative Agent, to JPMorgan Chase Bank, N.A., 500 Stanton Christiana Rd., NCC5 / 1st Floor, Newark, DE 19713, Attention:
Loan & Agency Services Group, (Tel: 312 954 9852, Fax: 302-634-8459, Email: zohaib.nazir@chase.com; Agency Withholding Tax Inquiries,
Email: agency.tax.reporting@jpmorgan.com; Agency Compliance/Financials/Intralinks, Email: covenant.compliance@jpmchase.com); and

 

(iii)
if to any Lender, to it at its address (or telecopy number) set forth in its Administrative Questionnaire.

 

Any party hereto may change its address or telecopy
number for notices and other communications hereunder by notice to the other parties hereto or in the case of a Lender, to the Administrative
Agent and the Borrowers. 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. Notices delivered through IntraLinks or by other similar means, to the extent
provided in paragraph (b) below, shall be effective as provided in said paragraph (b).

 

(b)
Notices and other communications to the Borrowers and the Lenders hereunder may be delivered or furnished by using an electronic
platform pursuant to procedures approved by the Administrative Agent; provided that the foregoing shall not apply to notices pursuant
to Article II unless otherwise agreed by the Administrative Agent and the applicable Lender. The Administrative Agent or the Borrower
may, in its

 

    

     63

    

discretion, agree to accept
notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it; provided that
approval of such procedures may be limited to particular notices or communications.

 

(c)
Unless the Administrative Agent otherwise prescribes, (i) notices and other communications sent to an e-mail address shall
be deemed received upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt
requested” function, as available, return e-mail or other written acknowledgement), and (ii) notices or communications posted
to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient, at its e-mail address as
described in the foregoing clause (i), of notification that such notice or communication is available and identifying the website
address therefor; provided that, for both clauses (i) and (ii) above, if such notice, email or other communication is not sent
during the normal business hours of the recipient, such notice or communication shall be deemed to have been sent at the opening of business
on the next Business Day for the recipient.

 

SECTION
10.02. Waivers; Amendments. (a) No failure or delay by the Administrative Agent or any Lender in exercising any right
or power hereunder or under any other Loan Document 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 Administrative Agent and the
Lenders hereunder and under the other Loan Documents are cumulative and are not exclusive of any rights or remedies that they would
otherwise have. No waiver of any provision of any Loan Document or consent to any departure by any Borrower therefrom shall in any
event be effective unless the same shall be permitted by paragraph (b) of this Section, and then such waiver or consent shall
be effective only in the specific instance and for the purpose for which given. Without limiting the generality of the foregoing,
the making of a Loan shall not be construed as a waiver of any Default, regardless of whether the Administrative Agent or any Lender
may have had notice or knowledge of such Default at the time.

 

(b)
Subject to Section 2.12, neither this Agreement nor any other Loan Document nor any provision hereof or thereof may be waived,
amended or modified except pursuant to an agreement or agreements in writing entered into by the Company and the Required Lenders or by
the Company and the Administrative Agent with the consent of the Required Lenders or, in the case of any other Loan Document, pursuant
to an agreement or agreements in writing entered into by the Administrative Agent and the Borrowers that are parties thereto, in each
case with the consent of the Required Lenders; provided that no such agreement shall (i) increase any Commitment of any Lender
without the written consent of such Lender, (ii) reduce the principal amount of any Loan, reduce the rate of interest thereon, or reduce
any fees payable hereunder, without the written consent of each Lender adversely affected thereby, (iii) postpone the date of any scheduled
payment of the principal amount of any Loan, or any interest thereon, or any fees payable hereunder, or reduce the amount of, waive or
excuse any such payment, or postpone the scheduled date of expiration of any Commitment, without the written consent of each Lender affected
thereby (provided that nothing shall limit the right of each Borrower to extend the Maturity

 

    

     64

    

Date pursuant to Section 2.06(f)),
(iv) change Section 2.16(b) or (c) in a manner that would alter the pro rata sharing of payments required thereby without the written
consent of each Lender (it being understood that the addition of new tranches of loans or commitments that may be extended under this
Agreement shall not be deemed to alter such pro rata sharing of payments), (v) change any of the provisions of this Section or the
definition of “Required Lenders” or any other provision of any Loan Document specifying the number or percentage of Lenders
required to waive, amend or modify any rights thereunder or make any determination or grant any consent thereunder, without the written
consent of each Lender (except, in each case, to provide for new tranches of loans or commitments that may be extended under this Agreement),
(vi) release the Company from, or limit or condition, its obligations under Article IX, without the written consent of each
Lender, (vii) change the currency in which Loans may be made without the written consent of each Lender affected thereby or (viii)
change Section 10.17 in any manner without the written consent of each Lender that is an Affected Financial Institution (as defined in
Section 10.17); provided further that no such agreement shall amend, modify or otherwise affect the rights or duties of the
Administrative Agent hereunder or under any other Loan Document without the prior written consent of the Administrative Agent.

 

SECTION
10.03. Limitation of Liability; Expenses; Indemnity. (a) To the extent permitted by applicable law (1) no Borrower
shall assert, and each Borrower hereby waives, any claim against the Administrative Agent, any Arranger, any Syndication Agent, any
Documentation Agent and any Lender, and any Related Party of any of the foregoing Persons (each such Person being called a
“Lender-Related Person”) for any Liabilities arising from the use by others of information or other materials
(including, without limitation, any personal data) obtained through telecommunications, electronic or other information transmission
systems (including the Internet), and (2) no party hereto shall assert, and each such party hereby waives, any Liabilities against
any other party hereto, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct
or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, or any agreement
or instrument contemplated hereby or thereby, the Transactions, any Loan or the use of the proceeds thereof; provided that,
nothing in this Section 10.03(a) shall relieve the Company or any other Borrower of any obligation it may have to indemnify an
Indemnitee, as provided in Section 10.03(c), against any special, indirect, consequential or punitive damages asserted against such
Indemnitee by a third party.

 

(b)
The Company shall pay (i) all reasonable and documented out-of-pocket expenses incurred by the Administrative Agent and its Affiliates,
including the reasonable fees, charges and disbursements of one counsel for the Administrative Agent and such Affiliates, in connection
with the syndication of the credit facility provided for herein, the preparation and administration of this Agreement or the other Loan
Documents or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated
hereby or thereby shall be consummated) and (ii) all reasonable and documented out-of-pocket expenses incurred by the Administrative
Agent or any Lender, including the reasonable fees, charges and disbursements of any counsel for the Administrative Agent or any Lender,
in connection with the enforcement or protection of its rights under any Loan Document, including its rights under this Section, or in

 

    

     65

    

connection with the Loans made,
including all such out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans.

 

(c)
The Company shall indemnify the Administrative Agent and each Lender, and each Related Party of any of the foregoing Persons (each
such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, liabilities,
out-of-pocket costs or expenses, including the reasonable fees, charges and disbursements of any counsel for any Indemnitee, incurred
by or asserted against any Indemnitee (whether by a third party or by any Borrower) arising out of, in connection with or as a result
of (i) any transaction or proposed transaction (whether or not consummated) in which any proceeds of any Borrowing hereunder are
applied or proposed to be applied, directly or indirectly, by any of the Borrowers or their Subsidiaries, (ii) any Loan or the use of
the proceeds therefrom or (iii) the execution, delivery or performance by any of the Borrowers and their Subsidiaries of the Loan Documents,
or any actions or omissions of a Borrower or any of its Subsidiaries in connection therewith; provided that such indemnity shall
not, as to any Indemnitee, be available to the extent that such losses, liabilities, costs or expenses (x) shall be found by a final,
non-appealable judgment of a court of competent jurisdiction to have resulted from the gross negligence or willful misconduct of such
Indemnitee or (y) result from a claim brought by the Company or any Borrowing Subsidiary against an Indemnitee for a material breach in
bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document, if the Company or such Borrowing Subsidiary
has obtained a final and nonappealable judgment in its favor on such claim as determined by a court of competent jurisdiction to the effect
that such a material breach in bad faith has occurred. Without limiting the provisions of Section 2.15(c), this Section 10.03(c) shall
not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim.

 

(d)
To the extent that the Company fails to pay any amount required to be paid by it to the Administrative Agent under paragraph (b)
or (c) of this Section, each Lender severally agrees to pay to the Administrative Agent such Lender’s pro rata share (determined
as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount; provided that the
unreimbursed loss, liability, cost or expense, as the case may be, was incurred by or asserted against the Administrative Agent. For purposes
hereof, a Lender’s “pro rata share” shall be determined based upon its share of the sum (without duplication) of the
total Exposures and unused Commitments at the time.

 

(e)
All amounts due under this Section shall be payable within 15 Business Days after receipt by the Company of a reasonably detailed
invoice therefor.

 

SECTION
10.04. Successors and Assigns. (a) The provisions of this Agreement shall be binding upon and inure to the benefit of
the parties hereto and their respective successors and assigns permitted hereby, except that neither the Company nor any Borrower
may assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of each Lender (and
any attempted assignment or transfer by any Borrower without such consent shall be null and void). Nothing in this Agreement,
expressed or implied, shall be construed to confer upon any Person (other than the parties

 

    

     66

    

hereto, their respective successors
and assigns permitted hereby and, to the extent expressly contemplated hereby, the Related Parties of the Administrative Agent and the
Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement.

 

(b)
Any Lender may assign to one or more Eligible Assignees all or a portion of its rights and obligations under this Agreement (including
all or a portion of its Commitments and the Loans or other amounts at the time owing to it); provided that (i)  the Administrative
Agent (except in the case of an assignment to a Lender, an Affiliate of a Lender or a Related Fund of a Lender) and the Company (except
in the case of an assignment to a Lender, an Affiliate of a Lender or a Related Fund of a Lender or if an Event of Default has occurred
and, except in the case of an Event of Default under Sections (a), (b), (g) or (h) of Article VII of this Agreement, has been continuing
for 30 days) must each give their prior written consent to such assignment (which consents shall not be unreasonably withheld, conditioned
or delayed), (ii) except in the case of an assignment to a Lender, an Affiliate of a Lender or a Related Fund of any Lender or an assignment
of the entire remaining amount of the assigning Lender’s Commitments and outstanding Loans, the Commitments and outstanding Loans
of the assigning Lender subject to each such assignment (determined as of the date the Assignment and Assumption with respect to such
assignment is delivered to the Administrative Agent) shall not be less than US$10,000,000 unless each of the Company and the Administrative
Agent otherwise consent, (iii) the parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and
Assumption, together with a processing and recordation fee of US$3,500 and (iv) the assignee, if it shall not be a Lender, shall
deliver to the Administrative Agent an Administrative Questionnaire; provided further that (x) any consent of the Company
otherwise required under this paragraph shall not be required if an Event of Default referred to in clause (g), (h) or (i) of Article
VII has occurred and is continuing, (y) the Company shall be deemed to have consented to any such assignment unless it shall object
thereto by written notice to the Administrative Agent within 10 Business Days after having received notice thereof and (z) no assignment
shall be made to any Person other than an Eligible Assignee. Subject to acceptance and recording thereof pursuant to paragraph (d)
of this Section, from and after the effective date specified in each Assignment and Assumption the assignee thereunder shall be a party
hereto and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under
this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be
released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s
rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits
of Sections 2.13, 2.14, 2.15 and 10.03). Any assignment or transfer by a Lender of rights or obligations under this Agreement that
does not comply with this paragraph shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such
rights and obligations in accordance with paragraph (e) of this Section. The Borrowers shall not be responsible under Section 2.13 or
2.15 for any increased costs incurred by a Lender as a result of an assignment under this Section to an Affiliate of such Lender unless
such Lender is legally required to make such assignment.

 

    

     67

    

(c)
The Administrative Agent, acting for this purpose as an agent of each Borrower, shall maintain at one of its offices in The City
of New York a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses
of the Lenders, and the Commitment of, and principal amount of the Loans owing to, each Lender pursuant to the terms hereof from time
to time (the “Register”). The entries in the Register shall be conclusive, and the Borrowers, the Administrative Agent
and the Lenders may treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all
purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the Company and
any Lender, at any reasonable time and from time to time upon reasonable prior notice.

 

(d)
Upon its receipt of a duly completed Assignment and Assumption executed by an assigning Lender and an assignee, the assignee’s
completed Administrative Questionnaire (unless the assignee shall already be a Lender hereunder), the processing and recordation fee referred
to in paragraph (b) of this Section and any written consent to such assignment required by paragraph (b) of this Section, the Administrative
Agent shall accept such Assignment and Assumption and record the information contained therein in the Register. No assignment shall be
effective for purposes of this Agreement unless it has been made in compliance with this Agreement as provided in this paragraph.

 

(e)
Any Lender may, without the consent of any Borrower or the Administrative Agent, sell participations to one or more Eligible Assignees
(a “Participant”) in all or a portion of such Lender’s rights and obligations under this Agreement (including
all or a portion of its Commitment and the Loans owing to it); provided that (i) such Lender’s obligations under this
Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance
of such obligations and (iii) the Borrowers, the Administrative Agent and the other Lenders shall continue to deal solely and directly
with such Lender in connection with such Lender’s rights and obligations under this Agreement. Any agreement or instrument pursuant
to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and
to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument
may provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described
in clause (i), (ii), (iii) or (vi) of the first proviso to Section 10.02(b) that affects such Participant. Subject to paragraph (f)
of this Section, each Borrower agrees that each Participant shall be entitled to the benefits of Sections 2.13, 2.14 and 2.15
to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section.

 

(f)
A Participant shall not be entitled to receive any greater payment under Section 2.13 or 2.15 than the applicable Lender would
have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such
Participant so provides and is made with the Company’s prior written consent. A Participant shall not be entitled to the benefits
of Section 2.15 unless the Company is notified of the participation sold to such Participant and such Participant agrees, for the
benefit of the Borrowers, to comply with Section 2.15(f) as though it were a Lender.

 

    

     68

    

(g)
Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement to secure
obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank or other applicable central
bank or, in the case of a Lender that is an investment fund, to the trustee under the indenture to which such fund is a party, and this
Section shall not apply to any such pledge or assignment of a security interest; provided that no such pledge or assignment of
a security interest shall release a Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender
as a party hereto.

 

(h)
Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of the Borrowers, maintain
a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant’s
interest in the Loans or other obligations under this Agreement or any other Loan Document (the “Participant Register”);
provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register (including the identity
of any Participant or any information relating to a Participant’s interest in any Commitments or Loans or its other obligations
under this Agreement or any other Loan Document) to any Person except to the extent that such disclosure is necessary to establish that
such Commitment, Loan or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The
entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded
in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary.
For the avoidance of doubt, the Administrative Agent (in its capacity as Administrative Agent) shall have no responsibility for maintaining
a Participant Register.

 

SECTION
10.05. Survival. All covenants, agreements, representations and warranties made by the Borrowers herein or in any other
Loan Document or in the certificates or other instruments delivered in connection with or pursuant to this Agreement or any other Loan
Document shall be considered to have been relied upon by the other parties hereto or thereto and shall survive the execution and delivery
of this Agreement and any other Loan Document and the making of any Loans, regardless of any investigation made by any such other party
or on its behalf and notwithstanding that the Administrative Agent or any Lender may have had notice or knowledge of any Default or incorrect
representation or warranty at the time any credit is extended hereunder, and shall continue in full force and effect as long as the principal
of or any accrued interest on any Loan or any fee or any other amount payable under this Agreement or any other Loan Document is outstanding
and so long as the Commitments have not expired or terminated. The provisions of Sections 2.13, 2.14, 2.15, 10.03 and 10.12 and Article VIII
shall survive and remain in full force and effect regardless of the consummation of the transactions contemplated hereby, the repayment
of the Loans and the Commitments or the termination of this Agreement or any other Loan Document or any provision hereof or thereof.

 

SECTION
10.06. Counterparts; Integration; Effectiveness. (a) 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, the other Loan Documents, any separate

 

    

     69

    

letter agreements with respect
to fees payable to the Administrative Agent and any provisions in any commitment letter executed and delivered by the Borrower in connection
with the transactions contemplated hereby that by the express terms of such commitment letter survive the execution or effectiveness of
this Agreement, constitute the entire contract 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. Except as provided in Section 4.01, this Agreement
shall become effective when it shall have been executed by the Administrative Agent and when the Administrative 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.

 

(b)
Delivery of an executed counterpart of a signature page of (x) this Agreement, (y) any other Loan Document and/or (z) any document,
amendment, approval, consent, information, notice (including, for the avoidance of doubt, any notice delivered pursuant to Section 10.01),
certificate, request, statement, disclosure or authorization related to this Agreement, any other Loan Document and/or the transactions
contemplated hereby and/or thereby (each an “Ancillary Document”) that is an Electronic Signature transmitted by telecopy,
emailed pdf. or any other electronic means that reproduces an image of an actual executed signature page shall be effective as delivery
of a manually executed counterpart of this Agreement, such other Loan Document or such Ancillary Document, as applicable. The words “execution,”
“signed,” “signature,” “delivery,” and words of like import in or relating to this Agreement, any
other Loan Document and/or any Ancillary Document shall be deemed to include Electronic Signatures, deliveries or the keeping of records
in any electronic form (including deliveries by telecopy, emailed pdf. or any other electronic means that reproduces an image of an actual
executed signature page), each of which shall be of the same legal effect, validity or enforceability as a manually executed signature,
physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be; provided that nothing herein shall
require the Administrative Agent to accept Electronic Signatures in any form or format without its prior written consent and pursuant
to procedures approved by it; provided, further, without limiting the foregoing, (i) to the extent the Administrative Agent
has agreed to accept any Electronic Signature, the Administrative Agent and each of the Lenders shall be entitled to rely on such Electronic
Signature purportedly given by or on behalf of the Borrowers without further verification thereof and without any obligation to review
the appearance or form of any such Electronic Signature and (ii) upon the request of the Administrative Agent or any Lender, any Electronic
Signature shall be promptly followed by a manually executed counterpart. Without limiting the generality of the foregoing, the Borrowers
hereby (A) agree that, for all purposes, including without limitation, in connection with any workout, restructuring, enforcement of remedies,
bankruptcy proceedings or litigation among the Administrative Agent, the Lenders, and the Borrowers, Electronic Signatures transmitted
by telecopy, emailed pdf. or any other electronic means that reproduces an image of an actual executed signature page and/or any electronic
images of this Agreement, any other Loan Document and/or any Ancillary Document shall have the same legal effect, validity and enforceability
as any paper original, (B) agree that the Administrative Agent and each of the Lenders may, at its option, create one or more copies of
this Agreement, any other Loan Document and/or any Ancillary Document in the form of an imaged

 

    

     70

    

electronic record in any format,
which shall be deemed created in the ordinary course of such Person’s business, and destroy the original paper document (and all
such electronic records shall be considered an original for all purposes and shall have the same legal effect, validity and enforceability
as a paper record), (C) waive any argument, defense or right to contest the legal effect, validity or enforceability of this Agreement,
any other Loan Document and/or any Ancillary Document based solely on the lack of paper original copies of this Agreement, such other
Loan Document and/or such Ancillary Document, respectively, including with respect to any signature pages thereto and (D) waive any
claim against any Lender-Related Person for any Liabilities arising solely from the Administrative Agent’s and/or any Lender’s
reliance on or use of Electronic Signatures and/or transmissions by telecopy, emailed pdf. or any other electronic means that reproduces
an image of an actual executed signature page, including any Liabilities arising as a result of the failure of the Borrowers to use any
available security measures in connection with the execution, delivery or transmission of any Electronic Signature.

 

SECTION
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.

 

SECTION
10.08. Right of Setoff. If an Event of Default shall have occurred and be continuing, each Lender and each of its Affiliates
is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits
(general or special, time or demand, provisional or final and in whatever currency denominated) at any time held and other obligations
at any time owing by such Lender or Affiliate to or for the credit or the account of any Borrower against any of and all the obligations
of such Borrower now or hereafter existing under this Agreement held by such Lender, irrespective of whether or not such Lender shall
have made any demand under this Agreement and although such obligations may be unmatured. Each Lender agrees promptly to notify the Administrative
Agent after any such set-off and application made by such Lender; provided, however, that the failure to give such notice
shall not affect the validity of such set-off and application. The rights of each Lender under this Section are in addition to other rights
and remedies (including other rights of setoff) which such Lender may have.

 

SECTION
10.09. Governing Law; Jurisdiction; Consent to Service of Process. (a) This Agreement shall be construed in accordance
with and governed by the law of the State of New York.

 

(b)
Each party hereto 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 any Loan
Document, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and

 

    

     71

    

unconditionally agrees that
all claims in respect of any such action or proceeding may be heard and determined in such New York State or, to the extent permitted
by law, in such Federal court. Each of 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 or
any other Loan Document shall affect any right that the Administrative Agent or any Lender may otherwise have to bring any action or proceeding
relating to this Agreement against any Borrower or its properties in the courts of any jurisdiction.

 

(c)
Each party hereto 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 or any other Loan Document 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)
Each party to this Agreement irrevocably consents to service of process in the manner provided for notices in Section 10.01.
Nothing in this Agreement or any other Loan Document will affect the right of any party to this Agreement to serve process in any other
manner permitted by law.

 

SECTION
10.10. 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, ANY OTHER
LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (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.

 

SECTION
10.11. Headings. Article and 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.

 

SECTION
10.12. Confidentiality. (a) The Administrative Agent and each Lender agrees to maintain the confidentiality of the
Information (as defined below), except that Information may be disclosed (i) to its Affiliates and to its and its
Affiliates’ directors, officers, employees and agents, including accountants, legal counsel and other advisors (including
service providers engaged by the Administrative Agent or any Lender in

 

    

     72

    

connection with the administration
and management of the Loan Documents and the Commitments), to Related Funds’ directors and officers and to any direct or indirect
contractual counterparty in swap agreements (it being understood that each Person to whom such disclosure is made will be informed of
the confidential nature of such Information and instructed to keep such Information confidential), (ii) to the extent requested by
any regulatory authority (including any self-regulatory authority) having jurisdiction over such Lender, (iii) to the extent required
by applicable laws or regulations or by any subpoena or similar legal process, (iv) to any other party to this Agreement, (v) to the extent
required or advisable in the judgment of counsel in connection with any suit, action or proceeding relating to the enforcement of rights
of the Administrative Agent or the Lenders against the Borrowers under this Agreement or any other Loan Document, (vi) subject to an agreement
containing provisions substantially the same as those of this Section, to (A) any assignee of or Participant in, or any prospective assignee
of or Participant in, any of its rights or obligations under this Agreement or (B) any actual or prospective counterparty (or its advisors)
to any swap or derivative transaction or any credit insurance provider relating to the Borrower and its obligations, (vii) with the consent
of the Company or (viii) to the extent such Information (A) becomes publicly available other than as a result of a breach of
this Section of which the Administrative Agent or such Lender is aware or (B) becomes available to the Administrative Agent or any
Lender on a nonconfidential basis from a source other than the Company other than as a result of a breach of this Section of which the
Administrative Agent or such Lender is aware. For the purposes of this Section, “Information” means all information
received from the Company relating to the Company or its business, other than (i) any such information that is available to the Administrative
Agent or any Lender on a nonconfidential basis prior to disclosure by the Company other than as a result of a breach of this Section of
which the Administrative Agent or such Lender is aware and (ii) customary information with respect to the terms of the credit facility
established under this Agreement routinely provided by arrangers to data service providers, including league table providers, that serve
the lending industry. Any Person required to maintain the confidentiality of Information as provided in this Section shall be considered
to have complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of
such Information as such Person would accord to its own confidential information.

 

(b)
Each Lender acknowledges that Information furnished to it pursuant to this Agreement may include material non-public information
concerning the Company and its Related Parties or the Company’s securities, and confirms that it has developed compliance procedures
regarding the use of material non-public information and that it will handle such material non-public information in accordance with those
procedures and applicable law, including Federal and state securities laws.

 

(c)
All information, including requests for waivers and amendments, furnished by the Company, the Subsidiaries or the Administrative
Agent pursuant to, or in the course of administering, this Agreement will be syndicate-level information, which may contain material non-public
information about the Company, the Subsidiaries and their Related Parties or the Company’s securities. Accordingly, each Lender
represents to the Borrower and the Administrative Agent that it has identified in its Administrative Questionnaire a credit contact who
may receive information that may contain material non-

 

    

     73

    

public information in accordance
with its compliance procedures and applicable law, including Federal and state securities laws.

 

SECTION
10.13. Conversion of Currencies. (a) If, for the purpose of obtaining judgment in any court, it is necessary to
convert a sum owing hereunder in one currency into another currency, each party hereto agrees, to the fullest extent that it may
effectively do so, that the rate of exchange used shall be that at which in accordance with normal banking procedures in the
relevant jurisdiction the first currency could be purchased with such other currency on the Business Day immediately preceding the
day on which final judgment is given.

 

(b)
The obligations of each Borrower in respect of any sum due to any party hereto or any holder of the obligations owing hereunder
(the “Applicable Creditor”) shall, notwithstanding any judgment in a currency (the “Judgment Currency”)
other than the currency in which such sum is stated to be due hereunder (the “Agreement Currency”), be discharged only
to the extent that, on the Business Day following receipt by the Applicable Creditor of any sum adjudged to be so due in the Judgment
Currency, the Applicable Creditor may, in accordance with normal banking procedures in the relevant jurisdiction, purchase the Agreement
Currency with the Judgment Currency; if the amount of the Agreement Currency so purchased is less than the sum originally due to the Applicable
Creditor in the Agreement Currency, such Borrower agrees, as a separate obligation and notwithstanding any such judgment, to indemnify
the Applicable Creditor against such loss. The obligations of the Borrowers contained in this Section 10.13 shall survive the termination
of this Agreement and the payment of all other amounts owing hereunder.

 

SECTION
10.14. Interest Rate Limitation. Notwithstanding anything herein to the contrary, if at any time the interest rate applicable
to any Loan, together with all fees, charges and other amounts which are treated as interest on such Loan under applicable law (collectively
the “Charges”), shall exceed the maximum lawful rate (the “Maximum Rate”) which may be contracted
for, charged, taken, received or reserved by the Lender holding such Loan in accordance with applicable law, the rate of interest payable
in respect of such Loan hereunder, together with all Charges payable in respect thereof, shall be limited to the Maximum Rate and, to
the extent lawful, the interest and Charges that would have been payable in respect of such Loan but were not payable as a result of the
operation of this Section shall be cumulated and the interest and Charges payable to such Lender in respect of other Loans shall be increased
(but not above the Maximum Rate therefor) until such cumulated amount, together with interest thereon at the Federal Funds Effective Rate,
shall have been received by such Lender.

 

SECTION
10.15. Certain Notices. Each Lender hereby notifies each Borrower that pursuant to the requirements of the USA Patriot Act
(Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Patriot Act”) and the Beneficial Ownership Regulation,
it is required to obtain, verify and record information that identifies such Borrower, which information includes the name and address
of such Borrower and other information that will allow such Lender to identify such Borrower in accordance with the Patriot Act and the
Beneficial Ownership Regulation. Each Borrower agrees to provide the Lenders, upon request, with all documentation and other information
required to be obtained by the

 

    

     74

    

Lenders pursuant to applicable
“know your customer” and anti-money laundering rules and regulations, including the Patriot Act and the Beneficial Ownership
Regulation.

 

SECTION
10.16. No Fiduciary Relationship. Each Borrower, on behalf of itself and the Subsidiaries, agrees that in connection with
all aspects of the transactions contemplated hereby and any communications in connection therewith, each Borrower, the Subsidiaries and
their Affiliates, on the one hand, and the Administrative Agent, the Lenders and their Affiliates, on the other hand, will have a business
relationship that does not create, by implication or otherwise, any fiduciary duty on the part of the Administrative Agent, the Lenders
or their Affiliates, and no such duty will be deemed to have arisen in connection with any such transactions or communications. Each Borrower,
on behalf of itself, the Subsidiaries and its and their respective Affiliates, waives and releases, to the fullest extent permitted by
law, any claims that such Borrower, the Subsidiaries or such Affiliates may have against the Administrative Agent, any Person identified
on the facing page or signature pages of this Agreement or elsewhere herein as a “syndication agent” or “documentation
agent”, any Lender or any Affiliate of any of the foregoing in respect of any breach or alleged breach of agency or fiduciary duty.

 

SECTION
10.17. Acknowledgement of and Consent to Bail-In of Affected Financial Institutions. (a) Notwithstanding anything to
the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto
acknowledges that any liability of any Affected Financial Institution arising under any Loan Document, to the extent such liability
is unsecured, may be subject to the Write-Down and Conversion Powers of the applicable Resolution Authority and agrees and consents
to, and acknowledges and agrees to be bound by:

 

(i)
the application of any Write-Down and Conversion Powers by the applicable Resolution Authority to any such liabilities arising
hereunder which may be payable to it by any party hereto that is an Affected Financial Institution; and

 

(ii)
the effects of any Bail-In Action on any such liability, including, if applicable, (A) a reduction in full or in part or cancelation
of any such liability, (B) a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such
Affected Financial Institution, its parent entity, or a bridge institution that may be issued to it or otherwise conferred on it, and
that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under
this Agreement or any other Loan Document or (C) the variation of the terms of such liability in connection with the exercise of the Write-Down
and Conversion Powers of any applicable Resolution Authority.

 

(b)
The following terms shall for purposes of this Section have the meanings set forth below:

 

“Affected Financial
Institution” means (a) any EEA Financial Institution or (b) any UK Financial Institution.

 

    

     75

    

“Bail-In Action”
means the exercise of any Write-Down and Conversion Powers by the applicable Resolution Authority in respect of any liability of an Affected
Financial Institution.

 

“Bail-In Legislation”
means (a) with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the
Council of the European Union, the implementing law, regulation rule or requirement for such EEA Member Country from time to time which
is described in the EU Bail-In Legislation Schedule and (b) with respect to the United Kingdom, Part I of the United Kingdom Banking Act
2009 (as amended from time to time) and any other law, regulation or rule applicable in the United Kingdom relating to the resolution
of unsound or failing banks, investment firms or other financial institutions or their affiliates (other than through liquidation, administration
or other insolvency proceedings).

 

“EEA Financial Institution”
means (a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA
Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a)
of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described
in clauses (a) or (b) of this definition and is subject to consolidated supervision with its parent.

 

“EEA Member Country”
means any member state of the European Union, Iceland, Liechtenstein and Norway.

 

“EEA Resolution Authority”
means any public administrative authority or any person entrusted with public administrative authority of any EEA Member Country (including
any delegee) having responsibility for the resolution of any EEA Financial Institution.

 

“EU Bail-In Legislation
Schedule” means the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor person), as in
effect from time to time.

 

“Resolution Authority”
means an EEA Resolution Authority or, with respect to any UK Financial Institution, a UK Resolution Authority.

 

“UK Financial Institution”
means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended form time to time) promulgated by the United Kingdom
Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated
by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates
of such credit institutions or investment firms.

 

“UK Resolution Authority”
means the Bank of England or any other public administrative authority having responsibility for the resolution of any UK Financial Institution.

 

    

     76

    

“Write-Down and Conversion
Powers” means, (a) with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution
Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers
are described in the EU Bail-In Legislation Schedule, and (b) with respect to the United Kingdom, any powers of the applicable Resolution
Authority under the Bail-In Legislation to cancel, reduce, modify or change the form of a liability of any UK Financial Institution or
any contract or instrument under which that liability arises, to convert all or part of that liability into shares, securities or obligations
of that person or any other person, to provide that any such contract or instrument is to have effect as if a right had been exercised
under it or to suspend any obligation in respect of that liability or any of the powers under that Bail-In Legislation that are related
to or ancillary to any of those powers.

 

[Remainder of page intentionally left blank]

 

    	 

    	 

    

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

 

	 	AUTOMATIC DATA PROCESSING, INC.,	 
	 	 	 
	 	by	/s/ Michael C. Eberhard	 
	 	 	Name:Michael C. Eberhard	 
	 	 	Title:Corporate Vice President and Treasurer	 

    [Signature Page to ADP 364-Day Credit Agreement]

     

    

	 	JPMoRGAN CHASE BANK, n.A., individually and as a Administrative Agent	 
	 	 	 
	 	By:	/s/ Ryan Zimmerman	 
	 	 	Name:Ryan Zimmerman	 
	 	 	Title:Vice President	 

    [Signature Page to ADP 364-Day Credit Agreement]

     

    

	 	Bank of america, n.A., as a Lender
	 	 	 	 
	 	By:	/s/ Dylan Honza	 	 
	 	 	Name:Dylan Honza	 	 
	 	 	Title:Vice President	 	 

    [Signature Page to ADP 364-Day Credit Agreement]

     

    

	 	BNP Paribas, as a Lender
	 	 	 
	 	By:	/s/ Brendan Heneghan	 
	 	 	Name:Brendan Heneghan	 
	 	 	Title:Director	 
	 	 	 	 
	 	 	 	 

	 	By:	/s/ Nicolas Doche	 
	 	 	Name:Nicolas Doche	 
	 	 	Title:Vice President	 

    [Signature Page to ADP 364-Day Credit Agreement]

     

    

	 	Deutsche Bank AG New York Branch, as a Lender	 
	 	 	 
	 	By:	/s/ Ming K. Chu	 
	 	 	Name:Ming K. Chu  ming.k.chu@db.com	 
	 	 	Title:Director         +1-212-250-5451	 
	 	 	 	 
	 	 	 	 

	 	By:	/s/ Annie Chung	 
	 	 	Name:Annie Chung annie.chung@db.com	 
	 	 	Title:Director         +1-212-250-6375 	 

    [Signature Page to ADP 364-Day Credit Agreement]

     

    

	 	Wells fargo bank, national association, as a Lender
	 	 	 
	 	By:	/s/ Karen H. McClain	 
	 	 	Name:Karen H. McClain	 
	 	 	Title:Managing Director	 

    [Signature Page to ADP 364-Day Credit Agreement]

     

    

	 	Barclays Bank PLC, as a Lender
	 	 	 
	 	By:	/s/ Amir Barash	 
	 	 	Name:Amir Barash	 
	 	 	Title: Director	 
	 	 	Executed in New York	 

    [Signature Page to ADP 364-Day Credit Agreement]

     

    

	 	mufg bank, ltd., as a Lender
	 	 	 
	 	By:	/s/ Lillian Kim	 
	 	 	Name:Lillian Kim	 
	 	 	Title: Director	 

    [Signature Page to ADP 364-Day Credit Agreement]

     

    

	 	pnc bank, national association, as a Lender
	 	 	 
	 	By:	/s/ Timothy J. Ambrose	 
	 	 	Name:Timothy J. Ambrose	 
	 	 	Title:Vice President	 

    [Signature Page to ADP 364-Day Credit Agreement]

     

    

	 	 
	 	BMO Bank of Montreal, as a Lender	 
	 	 	 
	 	 	 	 
		By:	/s/ Geoff Clark	 
	 	 	Name:Geoff Clark	 
	 	 	Title:Director, Corporate Finance	 
	 	 	Division	 
	 	 	 	 

    [Signature Page to ADP 364-Day Credit Agreement]

     

    

	 	u.s. bank national association, as a Lender	 
	 	 	 
	 	By:	/s/ Brian Seipke	 
	 	 	Name:BRIAN SEIPKE	 
	 	 	Title:SENIOR VICE PRESIDENT	 

    [Signature Page to ADP 364-Day Credit Agreement]

     

    

	 	Royal Bank of Canada, as a Lender	 
	 	 	 
	 	By:	/s/ Jennifer Flann	 
	 	 	Name:Jennifer Flann	 
	 	 	Title:Director – Corporate Client Group	 

    [Signature Page to ADP 364-Day Credit Agreement]

     

    

	 	morgan stanley bank, n.a., as a Lender	 
	 	 	 
	 	By:	/s/ Michael King	 
	 	 	Name:Michael King	 
	 	 	Title:Authorized Signatory	 

    [Signature Page to ADP 364-Day Credit Agreement]

     

    

	 	intesa sanpaolo s.p.a. – new york, as a Lender	 
	 	 	 
	 	By:	/s/ Glen Binder	 
	 	 	Name:Glen Binder	 
	 	 	Title:Global Relationship Manager	 
	 	 	 	 
	 	 	 	 

	 	By:	/s/ Manuela Insana	 
	 	 	Name:Manuela Insana	 
	 	 	Title:Relationship Manager	 

    [Signature Page to ADP 364-Day Credit Agreement]

     

    

	 	societe generale, as a Lender	 
	 	 	 
	 	By:	/s/ Andrew Johnman	 
	 	 	Name:Andrew Johnman	 
	 	 	Title:Co-Head of Technology Banking	 

    [Signature Page to ADP 364-Day Credit Agreement]

     

    

	 	Truist Bank, as a Lender	 
	 	 	 
	 	By:	/s/ Katherine Bass	 
	 	 	Name:Katherine Bass	 
	 	 	Title:Managing Director	 

    [Signature Page to ADP 364-Day Credit Agreement]

     

    

	 	fifth third bank, national association, as a Lender	 
	 	 	 
	 	By:	/s/ Jose A. Rosado	 
	 	 	Name:Jose A. Rosado	 
	 	 	Title:Senior Vice President	 

    [Signature Page to ADP 364-Day Credit Agreement]

     

    

	 	Santander Bank, n.a., as a Lender	 
	 	 	 
	 	By:	/s/ Jennifer Baydian	 
	 	 	Name:Jennifer Baydian	 
	 	 	Title:Senior Vice President	 

    [Signature Page to ADP 364-Day Credit Agreement]

     

    

	 	The Bank of Nova Scotia, as a Lender	 
	 	 	 
	 	By:	/s/ Marilena Devcic	 
	 	 	Name:Marilena Devcic	 
	 	 	Title:Director	 

    [Signature Page to ADP 364-Day Credit Agreement]

     

    

	 	The Northern Trust Company, as a Lender	 
	 	 	 
	 	By:	/s/ Andrew D. Holtz	 
	 	 	Name:Andrew D. Holtz	 
	 	 	Title:Senior Vice President	 

    [Signature Page to ADP 364-Day Credit Agreement]

     

    

	 	THE BANK OF NEW YORK MELLON, as a Lender	 
	 	 	 
	 	By:	/s/ Thomas J. Tarasovich, Jr.	 
	 	 	Name:Thomas J. Tarasovich, Jr.	 
	 	 	Title:Vice President	 

    [Signature Page to ADP 364-Day Credit Agreement]

     

    

	 	ING BANK N.V., DUBLIN BRANCH, as a Lender	 
	 	 	 
	 	By:	/s/ Cormac Langford	 
	 	 	Name:Cormac Langford	 
	 	 	Title:Director	 
	 	 	 	 
	 	 	 	 

	 	By:	/s/ Louise Gough	 
	 	 	Name:Louise Gough	 
	 	 	Title:Vice President	 

    [Signature Page to ADP 364-Day Credit Agreement]

     

    

	 	THE HUNTINGTON NATIONAL BANK, as a Lender	 
	 	 	 
	 	By:	/s/ Ted Jurgielewicz	 
	 	 	Name:Ted Jurgielewicz	 
	 	 	Title:Director	 

    [Signature Page to ADP 364-Day Credit Agreement]

     

    

	 	Svenska Handelsbanken AB (publ), New York Branch, as a Lender	 
	 	 	 
	 	By:	/s/ Martin Blåvarg	 
	 	 	Name:Martin Blåvarg	 
	 	 	Title:General Manager	 
	 	 	 	 
	 	 	 	 

	 	By:	/s/ Mark Emmett	 
	 	 	Name:Mark Emmett	 
	 	 	Title:Vice President	 

    [Signature Page to ADP 364-Day Credit Agreement]

     

    

	 	HSBC Bank USA, N.A., as a Lender	 
	 	 	 
	 	By:	/s/ Sarah McClintock	 
	 	 	Name:Sarah McClintock	 
	 	 	Title:Managing Director	 

    [Signature Page to ADP 364-Day Credit Agreement]

     

    

	 	TD BANK, N.A., as a Lender	 
	 	 	 
	 	By:	/s/ Steve Levi	 
	 	 	Name:Steve Levi	 
	 	 	Title:Senior Vice President	 

    [Signature Page to ADP 364-Day Credit Agreement]

     

    

	 	Bayerische Landesbank, New York Branch, as a Lender	 
	 	 	 
	 	By:	/s/ Varbin Staykoff	 
	 		Name:   Varbin Staykoff	 
	 	 	Title:     Senior Director	 
	 	 	 	 
	 	 	 	 

	 	By:	/s/ Elke Videgain	 
	 	 	Name:   Elke Videgain	 
	 	 	Title:    Vice President	 

    [Signature Page to ADP 364-Day Credit Agreement]

     

    

	 	City National Bank, as a Lender	 
	 	 	 
	 	By:	/s/ Matthew J. Davis	 
	 	 	Name:Matthew J. Davis	 
	 	 	Title:Senior Vice President	 

    [Signature Page to ADP 364-Day Credit Agreement]

     

    

	 	First Hawaiian Bank, as a Lender	 
	 	 	 
	 	By:	/s/ Stephen Agnew-Miller	 
	 	 	Name:Stephen Agnew-Miller	 
	 	 	Title:Vice President	 

    [Signature Page to ADP 364-Day Credit Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00346-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00346-of-00352.parquet"}]]