Document:

Exhibit 10.1

 Exhibit 10.1 

THIRD AMENDMENT 

THIRD AMENDMENT, dated as of June 23, 2010 (this “Amendment”), to the Credit Agreement dated as of March 13,
2009 (as modified by that certain Resignation, Waiver, Consent and Appointment Agreement dated as of March 31, 2009, the Waiver, dated as of September 30, 2009, the First Amendment, dated as of December 30, 2009, and the Second
Amendment dated as of March 31, 2010, the “Credit Agreement”) among American Apparel, Inc., a corporation organized under the laws of the State of Delaware (the “Borrower”), the Facility Guarantors from time to
time party thereto, Wilmington Trust FSB, in its capacity as Administrative Agent and in its capacity as Collateral Agent thereunder, and the Lenders from time to time party thereto. 

W I T N E S S E T H:

 WHEREAS, pursuant to the Credit Agreement, the Lenders have made certain loans and other extensions of credit to the
Borrower; and 
 WHEREAS, the Borrower and the Required Lenders have agreed to amend certain provisions of the Credit Agreement
on the terms and subject to the conditions set forth in this Amendment. 
 NOW THEREFORE, in consideration of the premises and
mutual covenants contained in this Amendment, the undersigned hereby agree as follows: 
 I. Defined Terms; Interpretation;
Etc. Capitalized terms used but not defined in this Amendment shall have the meanings given to them in the Credit Agreement. 

II. Amendments to Credit Agreement. 

a. Amendments to Section 1.01 – Definitions. 

 

	 	(i)	The definition of “Interest Rate” contained in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety as follows:

 ““Interest Rate” means a per annum rate equal to 15%; provided, however,
that if Total Debt to Consolidated EBITDA as of the last day of any four consecutive Fiscal Quarters is greater than the ratio set forth below opposite the last day of such period (a “Pricing Increase Event”), then “Interest
Rate” shall mean a per annum rate equal to 17% (the “Highest Interest Rate”). Any change in the Interest Rate resulting from a Pricing Increase Event shall become effective as of the first Business Day after the date
Section 5.01 Financials are delivered to the Administrative Agent indicating the occurrence of such Pricing Increase Event, until the first Business Day after the next date of delivery of the Section 5.01 Financials. Notwithstanding the
foregoing, the Highest Interest Rate shall apply (a) at the option of the Required Lenders, (i) as of the first Business Day after the date on which Section 5.01 Financials were required to have been delivered but have not been
delivered pursuant to Section 5.01 and shall continue to so apply until the date on which such Section 5.01 Financials are so delivered (and thereafter the 

 
Interest Rate otherwise determined in accordance with this definition shall apply), and (ii) as of the first Business Day after an Event of Default shall have occurred and be continuing and
the Administrative Agent has notified the Borrower that the Highest Interest Rate applies, and shall continue to so apply until the date on which such Event of Default shall cease to be continuing (and thereafter the Interest Rate otherwise
determined in accordance with this definition shall apply), and (b) as of June 21, 2010 until the first Business Day after the date on which Section 5.01 Financial Statements covering the Fiscal Quarter ended September 30, 2010
are delivered to the Administrative Agent. 
  

			
	 FOUR FISCAL QUARTER

PERIOD ENDING
	 	 TOTAL DEBT TO

CONSOLIDATED EBITDA

	 June 30, 2010
	 	1.90 to 1.00
	 September 30, 2010
	 	1.65 to 1.00
	 December 31, 2010
	 	1.60 to 1.00
	 March 31, 2011
	 	1.55 to 1.00
	 June 30, 2011
	 	1.45 to 1.00
	 September 30, 2011
	 	1.35 to 1.00
	 December 31, 2011 and thereafter
	 	1.25 to 1.00

 In the event
that the Administrative Agent and the Borrower determine that any Section 5.01 Financials previously delivered were incorrect or inaccurate (regardless of whether this Agreement or the Commitments are in effect when such inaccuracy is
discovered), and such inaccuracy, if corrected, would have led to the application of a higher Interest Rate for any period (an “Applicable Period”) than the Interest Rate applied for such Applicable Period, then (i) the
Borrower shall as soon as practicable deliver to the Administrative Agent the correct Section 5.01 Financials for such Applicable Period, (ii) the Interest Rate shall be determined as if the Highest Interest Rate were applicable for such
Applicable Period, and (iii) the Borrower shall within 3 Business Days of demand thereof by the Administrative Agent pay to the Administrative Agent the accrued additional interest owing as a result of such increased Interest Rate for such
Applicable Period, which payment shall be promptly applied by the Administrative Agent in accordance with this Agreement. This paragraph shall not limit the rights of the Administrative Agent and Lenders with respect to Section 2.05 and Article
VII.” 
  

	 	(ii)	The definition of “Total Debt” contained in Section 1.01 of the Credit Agreement is hereby amended by adding the following parenthetical immediately
prior to the period at the end thereof. 

 “(for the avoidance of doubt, it is understood that for purposes
of calculating Total Debt, the aggregate principal amount of Indebtedness shall be determined in accordance with GAAP and shall be net of unamortized discount)”. 

 

 2 

	 	(iii)	Section 1.01 of the Credit Agreement is hereby amended by adding the following new definitions in proper alphabetical order: 

“Applicable Period” has the meaning assigned to such term in the definition of Interest Rate. 

“Highest Interest Rate” has the meaning assigned to such term in the definition of Interest Rate. 

“Pricing Increase Event” has the meaning assigned to such term in the definition of Interest Rate. 

“Section 5.01 Financials” means the financial statements delivered, or required to be delivered, pursuant to
Section 5.01(a) together with the accompanying Compliance Certificate delivered, or required to be delivered, pursuant to Section 5.01(d). 

b. Amendment to Section 5.01 – Financial Statements and Other Information. Clause (ii) of
Section 5.01(d) of the Credit Agreement is hereby amended and restated in its entirety as follows: 
 “(ii) setting
forth reasonably detailed calculations with respect to (x) the covenants set forth in Sections 6.11 and 6.12 hereof for such period, and (y) Total Debt to Consolidated EBITDA for such period, and” 

c. Amendment to Section 6.11 – Financial Covenant. Section 6.11 of the Credit Agreement is hereby
amended and restated in its entirety as follows: 
 “SECTION 6.11 Financial Covenant. 

Minimum EBITDA. The Borrower will not permit Consolidated EBITDA for any four consecutive Fiscal Quarters ending on
any date set forth below to be less than the amount set forth opposite such date: 
  

			
	 FOUR FISCAL QUARTER

PERIOD ENDING
	  	 CONSOLIDATED EBITDA

	 June 30, 2010
	  	$20,000,000
	 September 30, 2010
	  	$20,000,000
	 December 31, 2010
	  	$20,000,000
	 March 31, 2011
	  	$22,000,000
	 June 30, 2011
	  	$30,000,000
	 September 30, 2011
	  	$37,000,000
	 December 31, 2011
	  	$42,500,000
	 March 31, 2012
	  	$45,000,000
	 June 30, 2012
	  	$52,000,000
	 September 30, 2012
	  	$58,000,000
	 December 31, 2012
	  	$63,750,000
	 March 31, 2013
	  	$66,000,000
	 June 30, 2013
	  	$73,000,000
	 September 30, 2013 and thereafter
	  	80,000,000”

  

 3 

 d. Amendment to Section 9.02 – Waivers; Amendments. Clause
(ii) of Section 9.02(b) of the Credit Agreement is hereby amended and restated in its entirety as follows: 

“(ii) Reduce the principal amount of any Obligation or reduce the rate of interest thereon, or reduce any fees payable under the Loan
Documents without the consent of the Lenders adversely affected thereby (it being understood that any change to the definition of Total Debt to Consolidated EBITDA or in the component definitions thereof shall not constitute a reduction in the rate
of interest);”. 
 e. Amendment to Exhibits to the Credit Agreement. Exhibit D to the Credit
Agreement is hereby amend and restated in its entirety in the form attached hereto as Exhibit A. 
 III. Conditions
Precedent to the Effectiveness of this Amendment. 
 (a) This Amendment shall become effective as of, and with effect from,
the date (the “Effective Date”) on which the Borrower, the Facility Guarantors and the Required Lenders shall have duly executed and delivered to the Administrative Agent this Amendment. 

(b) All corporate and other proceedings required in connection with this Amendment, and all documents, instruments and other legal matters
in connection with the transactions contemplated by this Amendment, shall be satisfactory in all respects to the Required Lenders, which satisfaction shall be evidenced by the execution and delivery by the Required Lenders of this Amendment.

 (c) Each of the representations and warranties contained in Section IV (Representations and Warranties) of this Amendment
shall be true and correct. 
 (d) After giving effect to this Amendment, no Default or Event of Default shall have occurred and
be continuing as of the date hereof. 
 (e) No litigation shall have been commenced against any Loan Party or any of its
Subsidiaries, either on the date hereof or the Effective Date, seeking to restrain or enjoin (whether temporarily, preliminarily or permanently) the performance of any action by any Loan Party required or contemplated by this Amendment or the Credit
Agreement as amended by this Amendment or any other Loan Document.
 IV. Representations and Warranties. On and as of the
date hereof and as of the Effective Date, the Borrower hereby represents and warrants to the Administrative Agent, the Collateral Agent and the Lenders as follows: 

(a) this Amendment has been duly authorized, executed and delivered by the Borrower and each Facility Guarantor and constitutes a legal,
valid and binding obligation of the Borrower and each Facility Guarantor, enforceable against the Borrower and each Facility Guarantor in accordance 

 

 4 

 
with its terms and the Credit Agreement as amended by this Amendment and the other Loan Documents and constitutes the legal, valid and binding obligation of the Borrower and each Facility
Guarantor, enforceable against the Borrower and each Facility Guarantor in accordance with its terms; 
 (b) each of the
representations and warranties contained in Article III (Representations and Warranties) of the Credit Agreement, the other Loan Documents or otherwise made in writing in connection therewith are true and correct in all material respects on and as
of the date hereof and the Effective Date (after giving effect to this Amendment), in each case as if made on and as of such date except to the extent that such representations and warranties specifically relate to a specific date, in which case
such representations and warranties shall be true and correct in all material respects as of such specific date; provided, however, that references therein to the “Credit Agreement” shall be deemed to refer to the Credit Agreement
as amended by this Amendment after giving effect to the amendments set forth herein; 
 (c) after giving effect to this
Amendment, no Default or Event of Default has occurred and is continuing; and 
 (d) no litigation has been commenced against any
Loan Party or any of its Subsidiaries seeking to restrain or enjoin (whether temporarily, preliminarily or permanently) the performance of any action by any Loan Party required or contemplated by this Amendment, the Credit Agreement as amended
hereby or any Loan Document. 
 V. No Other Amendments; Confirmation. Except as expressly set forth herein, this
Amendment shall not by implication or otherwise limit, impair, constitute a waiver of, or otherwise affect the rights and remedies of the Lenders, the Agents, the Borrower or any other Loan Party under the Credit Agreement or any other Loan
Document, and shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Loan Document, all of which are ratified and affirmed in all respects
and shall continue in full force and effect. Nothing herein shall be deemed to entitle the Borrower to any future consent to, or a waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or agreements
contained in the Credit Agreement or any other Loan Document in similar or different circumstances. This Amendment shall apply and be effective only with respect to the provisions of the Credit Agreement specifically referred to herein. After the
Effective Date, any reference in any Loan Document to the Credit Agreement shall mean the Credit Agreement as modified hereby. As of the Effective Date, each reference in the Credit Agreement to “this Agreement,” “hereunder,”
“hereof,” “herein,” or words of like import, and each reference in the other Loan Documents to the Credit Agreement (including, without limitation, by means of words like “thereunder”, “thereof” and words of
like import), shall mean and be a reference to the Credit Agreement as amended hereby, and this Amendment and the Credit Agreement shall be read together and construed as a single instrument. Each of the table of contents and lists of Exhibits and
Schedules of the Credit Agreement shall be amended to reflect the changes made in this Amendment as of the Effective Date. This Amendment is a Loan Document. 

VI. Consent of Facility Guarantors. Each Facility Guarantor hereby consents to this Amendment and agrees that the terms hereof
shall not affect in any way its obligations and liabilities under the Loan Documents (as amended and otherwise expressly modified hereby), all of which obligations and liabilities shall remain in full force and effect and each of which is hereby
reaffirmed (as amended and otherwise expressly modified hereby). 
  

 5 

 VII. Expenses. The Borrower agrees to reimburse the Administrative Agent and the
Lenders for their respective reasonable out-of-pocket expenses incurred in connection with this Amendment (including the reasonable fees, disbursements and other charges of Simpson Thacher & Bartlett LLP). 

VIII. Governing Law. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HERETO SHALL BE GOVERNED BY, AND CONSTRUED AND
INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 IX. Counterparts. This Amendment may be executed by
one or more of the parties hereto on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. This Amendment may be delivered by facsimile or other electronic
transmission of the relevant signature pages hereof. 
 X. Headings. The Section headings used herein are for convenience
of reference only, are not part of this Agreement and are not to affect the construction of, or to be taken into consideration in interpreting, this Amendment. 

XI. Notices. All communications and notices hereunder shall be given as provided in the Credit Agreement or, as the case may be,
the Facility Guaranty. 
 XII. Severability. The fact that any term or provision of this Amendment is held invalid,
illegal or unenforceable as to any person in any situation in any jurisdiction shall not affect the validity, enforceability or legality of the remaining terms or provisions hereof or the validity, enforceability or legality of such offending term
or provision in any other situation, or jurisdiction or as applied to any person. 
 XIII. Successors. The terms of this
Amendment shall be binding upon, and shall inure to the benefit of, the parties hereto and their respective successors and assigns. 

XIV. Waiver of Jury Trial. EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES TRIAL BY JURY IN ANY ACTION OR PROCEEDING WITH RESPECT TO
THIS AMENDMENT OR ANY OTHER LOAN DOCUMENT. 
 XV. Submission to Jurisdiction. Each Loan Party agrees that any suit for
the enforcement of this Amendment may be brought in the federal or state courts of the State of New York as the Lenders may elect in their sole discretion and consents to the non-exclusive jurisdiction of such courts. Each party to this Amendment
hereby waives any objection which it may now or hereafter have to the venue of any such suit or any such court or that such suit is brought in an inconvenient forum and 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 Amendment shall affect any right that any Credit Party may otherwise have to bring any action or proceeding
relating to this Amendment against a Loan Party or its properties in the courts of any jurisdiction. 
 [Remainder of Page
Intentionally Left Blank] 
  

 6 

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

			
	 AMERICAN APPAREL, INC.,

as Borrower

		
	By:	 	 /s/ Adrian Kowalewski

	Name:	 	Adrian Kowalewski
	Title:	 	Chief Financial Officer

  

[Signature Page to Third Amendment] 

  

			
	 AMERICAN APPAREL (USA), LLC, as

Facility Guarantor

		
	By:	 	 /s/ Dov Charney

	Name:	 	Dov Charney
	Title:	 	Sole Manager

  

[Signature Page to Third Amendment] 

  

			
	 FRESH AIR FREIGHT, INC., as Facility

Guarantor

		
	By:	 	 /s/ Dov Charney

	Name:	 	Dov Charney
	Title:	 	Sole Manager

  

[Signature Page to Third Amendment] 

  

			
	 AMERICAN APPAREL, LLC, as Facility

Guarantor

	
	 By: American Apparel (USA), LLC, it Sole

Member

		
	By:	 	 /s/ Dov Charney

	Name:	 	Dov Charney
	Title:	 	Sole Manager

  

[Signature Page to Third Amendment] 

  

			
	KCL KNITTING, LLC, as Facility Guarantor
	
	 By: American Apparel (USA), LLC, it Sole

Member

		
	By:	 	 /s/ Dov Charney

	Name:	 	Dov Charney
	Title:	 	Sole Manager

  

[Signature Page to Third Amendment] 

  

			
	 AMERICAN APPAREL RETAIL, INC., as

Facility Guarantor

		
	By:	 	 /s/ Dov Charney

	Name:	 	Dov Charney
	Title:	 	President

  

[Signature Page to Third Amendment] 

  

			
	 AMERICAN APPAREL DYEING &

FINISHING, INC., as Facility Guarantor

		
	By:	 	 /s/ Dov Charney

	Name:	 	Dov Charney
	Title:	 	President

  

[Signature Page to Third Amendment] 

  

			
	 WILMINGTON TRUST FSB, as

Administrative Agent and Collateral Agent

		
	By:	 	 /s/ Joseph P O’Donnell

	Name:	 	Joseph P O’Donnell
	Title:	 	Vice President

  

[Signature Page to Third Amendment] 

  

			
	LION CAPITAL (AMERICAS) INC., as Lender
		
	By:	 	 /s/ Jacob Capps

	Name:	 	Jacob Capps
	Title:	 	President

  

[Signature Page to Third Amendment] 

  

			
	LION/HOLLYWOOD L.L.C., as Lender
		
	By:	 	 /s/ Jacob Capps

	Name:	 	Jacob Capps
	Title:	 	President

  

[Signature Page to Third Amendment] 

 EXHIBIT A 

Form of Compliance Certificate 

COMPLIANCE CERTIFICATE 

Date of Certificate:
                     
  

	To:	Wilmington Trust FSB 

 166 Mercer
Street, Suite 2R 
 New York, New York 10012 

Attention: Boris Treyger 

Telephone: (212) 941-4416 

Facsimile: (212) 343-1079 

btreyger@wilmingtontrust.com 

Re: Credit Agreement, dated as of March 13, 2009 (as modified, amended, supplemented or restated and in effect from time to time,
the “Credit Agreement”) among American Apparel, Inc. (the “Borrower”), the Facility Guarantors, the Lenders from time to time party thereto, and Lion Capital LLP, in its capacities as Administrative Agent and
Collateral Agent thereunder. Capitalized terms used but not defined herein shall have the meanings set forth in the Credit Agreement. 

The undersigned, a duly authorized and acting Financial Officer of the Borrower, hereby certifies on behalf of the Loan Parties as of the
date hereof the following: 
  

	1.	No Defaults or Events of Default. 

  

	 	(a)	Since              (the date of the last similar certification), and except as set forth in Appendix
I, no Default or Event of Default has occurred. 

  

	 	(b)	If a Default or Event of Default has occurred since              (the date of the last similar
certification), the Borrowers have taken or propose to take those actions with respect to such Default or Event of Default as described on said Appendix I. 

 

	[2.	 Financial Calculations. Attached hereto as Appendix II are reasonably detailed calculations with respect to (a) Consolidated EBITDA, [and]
(b) Total Debt to Consolidated EBITDA[ and (c) the amount of Capital Expenditures
incurred]1.]
2 

  

	3.	No Material Accounting Changes, Etc. 

  

	 	(a)	The financial statements furnished to the Administrative Agent for the [Fiscal Year/Fiscal Quarter/Fiscal Month] ending
             were prepared in accordance with GAAP and present fairly in all material respects the financial condition and results of operations of the Borrower and its Subsidiaries on a
Consolidated basis, as of the end of the period(s) covered, subject to (i) with respect to unaudited financial statements, normal year end audit adjustments and the absence of footnotes and (ii) any changes as disclosed on Appendix III
hereto. 

  
  

	1
	 Only required for Fiscal Year-end certification. 

	2
	 Only required for Fiscal Quarter and Fiscal Year-end certification. 

	 	(b)	Except as set forth in Appendix III, there has been no change in GAAP which has been applied in the Borrower’s most recent audited financial statements since
             (the date of the Borrower’s most recent audited financial statements), and if such a change has occurred, the effect of such change on the financial statements is detailed
in Appendix III. 

 IN WITNESS WHEREOF, the Borrower, on behalf of itself and each of the other Loan Parties, has
duly executed this Compliance Certificate as of                     , 20    . 

 

			
	BORROWER:
	
	AMERICAN APPAREL, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	

 APPENDIX I 

Except as set forth below, no Default or Event of Default has occurred. [If a Default or Event of Default has occurred, the following
describes the nature of the Default or Event of Default in reasonable detail and the steps, if any, being taken or contemplated by the Loan Parties to be taken on account thereof.] 

 APPENDIX II 
  

											
	 A.     
	 	Consolidated EBITDA	 		  		  	
					
	 1.      
	 	Consolidated EBITDA for such period:	 		  		  	
						
		 	(a)	 	Consolidated Net Income for such period:	 		  	  
	  	
						
		 		 	Plus, without duplication and to the extent already deducted (and not added back) in arriving at such Consolidated Net Income for such period, as determined on a Consolidated
basis for the Borrower and its Subsidiaries in accordance with GAAP	 		  		  	
						
		 	(b)	 	Depreciation and amortization expense for such period:	 		  	  
	  	
						
		 	(c)	 	Provisions for Taxes during such period:	 		  	  
	  	
						
		 	(d)	 	Consolidated Interest Expense and non-cash or deferred interest financing costs for such period:	 		  	  
	  	
						
		 	(e)	 	Compensation expense incurred during such period with respect to the issuance of up to 2,710,000 shares of common stock pursuant to Section 5.31 of the Merger
Agreement:	 		  	  
	  	
						
		 	(f)	 	Non-cash compensation expense incurred during such period including any such expenses related to the issuance of Capital Stock in connection therewith:	 		  	  
	  	
						
		 	(g)	 	Costs and expenses incurred during such period in connection with entering into the Loan Documents and any amendments required under the First Lien Loan Documents relating thereto
3:	 		  	  
	  	
						
		 	(h)	 	Expenses or charges incurred during such period in connection with any issuance of Indebtedness or any amendment of any instrument governing any
Indebtedness4:	 		  	  
	  	
						
		 	(i)	 	Unusual or nonrecurring non-cash expenses or charges for such period (including, whether or not otherwise includable as a separate item in the statement of Consolidated Net Income
for such period, non-cash losses on sales of assets outside the ordinary course of business):	 		  	  
	  	

  

	3
	 Amount may not exceed $6,000,000 in the aggregate during the term of the Credit Agreement. 

	4
	 Amount may not exceed $500,000 in any Fiscal Quarter. 

											
						
		 	(j)	 	Non-cash charges for such period relating to the accretion of debt discount and amortization of warrants and changes in derivative liabilities:	 		  	  
	 	
						
		 	(k)	 	Other non-cash charges during such
period5:	 		  	  
	 	
						
		 	(l)	 	Losses or charges for such period associated with the writedowns or impairment of assets or intangibles (including writedowns of goodwill or other assets pursuant to FASB 142 and
144, writedowns relating to discontinued operations pursuant to FASB 144 and charges pursuant to FASB 141):	 		  	  
	 	
						
		 	(m)	 	Consolidated EBITDA (if negative) attributable to any property that is the subject of a Material Disposition during such period:	 		  	  
	 	
						
		 	(n)	 	Amounts paid or owing during such period to consultants pursuant to engagement letters approved in writing by the Initial Lender:	 		  	  
	 	
						
		 		 	Minus, without duplication and to the extent included in arriving at such Consolidated Net Income for such period	 		  	  
	 	
						
		 	(o)	 	Interest income for such period:	 		  	  
	 	
						
		 	(p)	 	Unusual or nonrecurring non-cash gains increasing Consolidated Net Income for such period (including whether or not includable as a separate item in the Statement of Consolidated
Net Income for such period, non-cash gain on sales of assets outside the ordinary course of business):	 		  	  
	 	
						
		 	(q)	 	Income tax credits for such period to the extent not netted from provisions for Taxes:	 		  	  
	 	
						
		 	(r)	 	Any other non-cash gains increasing Consolidated Net Income during such
period6:	 		  	  
	 	
						
		 	(s)	 	Any cash payment made during such period in respect of items in Lines (i), (j) or (k) subsequent to the Fiscal Quarter in which the relevant non-cash expenses or losses
were reflected as a charge in the statement of Consolidated Net Income for such period:	 		  	  
	 	

  

	5
	 Amount may not exceed $500,000 in any Fiscal Quarter. 

	6
	 Amount may not exceed $500,000 in any Fiscal Quarter. 

									
	 2.      
	 	Consolidated EBITDA for the prior three quarters:	 		 	  
	 	
					
	 3.      
	 	Consolidated EBITDA for the prior four Fiscal Quarters [The sum of (a) through (n), minus the sum of (o) through (s), plus Line A2]:	 		 	  
	 	

 Covenant: The Borrower will not permit amount of Consolidated EBITDA as of the last day of any four consecutive
Fiscal Quarters to be less than the amount set forth opposite the last day of such period in Section 6.11. 
  

									
	In compliance:	 	 	 	Yes	 	 	 	No

  

									
	 B.     
	 	Total Debt to Consolidated EBITDA	 		  	
				
	 1.      
	 	Total Debt outstanding on the last day of such period:	 	  
	  	
				
	 2.      
	 	Consolidated EBITDA for the prior four Fiscal Quarters [Line A3]:	 	  
	  	
					
	 3.      
	 	Total Debt to Consolidated EBITDA [Line B1 divided by Line B2]:	 	  
	 	:1.00	  	
					
	 4.      
	 	Maximum Total Debt to Consolidated EBITDA permitted without causing a Pricing Increase
Event:7	 	  
	 	:1.00	  	

  

									
	 Has a Pricing Increase Event Occurred?:
	 	 	 	Yes	 	 	 	No

  

									
	 C.     
	 	Capital Expenditures	 		 		 	
					
	 1.      
	 	Additions to property, plant, and equipment and other capital expenditures of the Loan Parties and their Subsidiaries that are (or would be) set forth in the Consolidated balance
sheet of the Loan Parties and their Subsidiaries for such period prepared in accordance with GAAP:	 		 	      
	 	
					
		 	Plus	 		 		 	
					
	 2.      
	 	Capital Lease Obligations incurred by the Loan Parties and their Subsidiaries during such period, calculated, without duplication,	 		 	      
	 	

  

	7
	 See definition of “Interest Rate” in the Credit Agreement. 

													
		 	for any items included in Line 1:	 		 		 		 	
							
		 		 	Minus, to the extent included in Lines 1 or 2	 		 		 		 	
							
		 	(a)	 	Expenditures made during such period in connection with the replacement, substitution, restoration or repair of assets to the extent financed from insurance proceeds or condemnation
awards paid on account of any casualty or condemnation event:	 		 	  
	 		 	
							
		 	(b)	 	Any expenditures during such period that constitute Permitted Acquisitions:	 		 	  
	 		 	

 Covenant: The Loan Parties shall not make or incur, nor permit a Subsidiary to make or incur, Capital
Expenditures, except Capital Expenditures not exceeding in the aggregate for the Borrower and its Subsidiaries during each Fiscal Year set forth in Section 6.12, the amount set forth opposite such Fiscal Year in Section 6.12 (which in the
case of the Fiscal Year ending December 31, 2009 shall include all Capital Expenditures incurred during such entire Fiscal Year and not just since the Closing Date). 

 

									
	 In compliance:
	 	 	 	Yes	 	 	 	No

 APPENDIX III 

Except as set forth below, no change in GAAP which has been applied in the Borrower’s most recent audited financial statements has
occurred since                      (the date of the Borrower’s most recent audited financial statements). [If any such change has occurred, the
following describes the nature of the change in reasonable detail and the effect, if any, of each such change in GAAP or in application thereof on the financial statements delivered in accordance with the Credit Agreement].Third Amended and Restated 2005 Omnibus Equity Compensation Plan

 Exhibit 10.1 

INTERNET CAPITAL GROUP, INC. 

THIRD AMENDED AND RESTATED 2005 OMNIBUS EQUITY COMPENSATION PLAN 

(as amended and restated, effective June 18, 2010) 

 

	 	1.	Purpose 

 The
purpose of the Plan is to provide designated (i) Employees of ICG and its Subsidiaries, (ii) Non-Management Directors of ICG and its Subsidiaries and (iii) Consultants who perform services for ICG and its Subsidiaries, with the
opportunity to receive grants of Options, SARs, Stock Units, Performance Shares, Stock Awards, Dividend Equivalents and Other Stock-Based Awards. ICG believes that the Plan will encourage the Participants to contribute materially to the growth of
ICG, thereby benefiting ICG’s stockholders, and will align the economic interests of the Participants with those of the stockholders. 
  

	 	2.	Definitions 

Whenever used in this Plan, the following terms will have the respective meanings set forth below: 

(a) “Board” means ICG’s Board of Directors as constituted from time to time. 

(b) “Change of Control” means the first to occur of any of the following events: 

(i) Any “person” (as such term is used in sections 13(d) and 14(d) of the Exchange Act) becomes a “beneficial owner”
(as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of ICG representing a majority of the voting power of the then outstanding securities of ICG, except where the acquisition is approved by the Board; or

 (ii) the consummation of (A) a merger or consolidation of ICG with another corporation where the stockholders of ICG,
immediately prior to the consummation of the merger or consolidation, will not beneficially own, immediately after the merger or consolidation, shares of Stock entitling such stockholders to more than 50% of all votes to which all stockholders of
the surviving corporation would be entitled in the election of directors, (B) the sale or other disposition of all or substantially all of the assets of ICG, or (C) a liquidation or dissolution of ICG. 

(c) “Code” means the Internal Revenue Code of 1986, as amended. 

(d) “Committee” means the Compensation Committee of the Board or its delegate or its successor, or such other committee
appointed by the Board to administer the Plan or its delegate or its successor. Notwithstanding the foregoing, with respect to Grants to Employees that are intended as “qualified performance-based compensation” (as defined under section
162(m) of the Code), as well as to Employees who are officers of the Company, the Committee shall consist of two or more persons appointed by the Board, all of whom shall be “outside directors” (as defined under section 162(m) of the Code
and related Treasury regulations) and “non-employee directors” as defined under Rule 16b-3 promulgated under the Exchange Act. 

(e) “Company” means ICG and any Subsidiary. 

(f) “Consultants” means advisors and consultants who perform services for the Company. 

(g) “Date of Grant” means the date a Grant is effective; provided, however, that no retroactive Grants will be made.

 (h) “Dividend Equivalent” means an amount determined by multiplying the number of shares of Stock,
Performance Shares or Stock Units subject to a Grant by the per-share cash dividend, or the per-share fair market value (as determined by the Committee) of any dividend in consideration other than cash, paid by ICG on its Stock on a dividend payment
date. 

 (i) “Effective Date” means June 11, 2005, subject to approval by the
stockholders of ICG. 
 (j) “Employee” means an employee of the Company (including an officer or director who
is also an employee). 
 (k) “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

(l) “Fair Market Value” of Stock means (i) if the shares of Stock are publicly traded, (A) if the principal
trading market for the shares of Stock is a national securities exchange, the last reported sale price thereof on such date or, if there were no trades on that date, the next date upon which a sale is reported, or (B) if the shares of Stock are
not publicly traded on such exchange or market, the mean between the last reported “bid” and “asked” prices of a share of Stock on such date as reported on NASDAQ or, if not so reported, as reported by the National Daily
Quotation Bureau, Inc. or as reported in a customary financial reporting service, as applicable and as the Committee determines, or (ii) if the shares of Stock are not publicly traded or, if publicly traded, are not subject to reported
transactions or “bid” or “asked” quotations as set forth above, as determined in good faith by the Committee, provided, that, if the shares of Stock are publicly traded, the Committee may make such discretionary determinations
where the shares of Stock have not been traded for 10 trading days. Notwithstanding the foregoing, in the case of a broker-assisted exercise pursuant to Section 7(g), the Fair Market Value will be the actual sale price of the shares of Stock
issued upon exercise of the Option. 
 (m) “Grant” means an Option, SAR, Stock Unit, Performance Share, Stock
Award, Dividend Equivalent or Other Stock-Based Award granted under the Plan. 
 (n) “Grant Instrument” means
the written agreement that sets forth the terms and conditions of a Grant, including all amendments thereto. 
 (o)
“Incentive Stock Option” means a stock option that is intended to meet the requirements of section 422 of the Code, as described in Section 7. 

(p) “ICG” means Internet Capital Group, Inc., a Delaware corporation, or any successor thereto. 

(q) “Non-Management Director” means a member of the Board, or a member of the board of directors of a Subsidiary, who is
not a member of management of the Company. 
 (r) “Nonqualified Stock Option” means a stock option that is not
intended to meet the requirements of section 422 of the Code, as described in Section 7. 
 (s) “Option”
means an Incentive Stock Option or Nonqualified Stock Option to purchase shares of Stock at an Option Price for a specified period of time. 

(t) “Option Price” means an amount per share of Stock purchasable under an Option, as designated by the Committee.

 (u) “Other Stock-Based Award” means any Grant based on, measured by or payable in Stock (other than Grants
described in Sections 7, 8, 9, 10, 11 and 12), as described in Section 13. 
 (v) “Parent” means a
“parent corporation,” as defined in section 424(e) of the Code, of ICG. 
 (w) “Participant” means an
Employee, Consultant or Non-Management Director designated by the Committee to participate in the Plan. 
  

 2 

 (x) “Performance Shares” means an award of phantom shares, representing one
or more shares of Stock, as described in Section 10. 
 (y) “Plan” means this Internet Capital Group, Inc.
2005 Omnibus Equity Compensation Plan, as in effect from time to time. 
 (z) “Stock” means the common stock,
par value $0.001 per share, of ICG or such other securities of ICG as may be substituted for Stock pursuant to Sections 5(d) or 18. 

(aa) “SAR” means an award of a stock appreciation right, as described in Section 8. 

(bb) “Stock Award” means an award of Stock, as described in Section 11. 

(cc) “Stock Unit” means an award of a phantom unit, representing one or more shares of Stock, as described in
Section 9. 
 (dd) “Subsidiary” means any entity in which ICG has a greater than 50% economic or voting
interest. For purposes of Sections 7(c), (d) and (h), “Subsidiary” shall mean a “subsidiary corporation,” as defined in section 424(f) of the Code, of ICG. 

(ee) “Successor Participant” means the personal representative or other person entitled to succeed to the rights of the
Participant in accordance with Section 17. 
  

	 	3.	Administration 

(a) Committee. The Plan shall be administered and interpreted by the Committee. Ministerial functions may be performed by employees
of the Company. 
 (b) Committee Authority. The Committee shall have the sole authority to (i) determine the
Employees, Consultants and Non-Management Directors to whom Grants shall be made under the Plan, (ii) determine the type, size and terms of the Grants to be made to each Participant, (iii) determine the time when the Grants will be made
and the duration of any applicable exercise or restriction period, including the criteria for exercisability and the acceleration of exercisability, (iv) amend the terms of any previously issued Grant, subject to the provisions of
Section 20, (v) adopt guidelines separate from the Plan that set forth the specific terms and conditions for Grants under the Plan, and (vi) deal with any other matters arising under the Plan. However, the Board may ratify or approve
any Grants as it deems appropriate and has the authority to administer the Plan. To the extent that the Board makes Grants and administers the Plan, references in the Plan to the “Committee” shall be deemed to refer to the Board.

 (c) Committee Determinations. The Committee shall have full power and express discretionary authority to administer
and interpret the Plan, to make factual determinations and to adopt or amend such rules, regulations, agreements and instruments for implementing the Plan and for the conduct of its business as it deems necessary or advisable, in its sole
discretion. The Committee’s interpretations of the Plan and all determinations made by the Committee pursuant to the powers vested in it hereunder shall be conclusive and binding on all persons having any interest in the Plan or in any awards
granted hereunder. All powers of the Committee shall be executed in its sole discretion, in the best interest of ICG, not as a fiduciary, and in keeping with the objectives of the Plan and need not be uniform as to similarly situated individuals.

 (d) Restrictions on Stock Units, Performance Shares and Stock Awards. The vesting period for any performance-based
vesting of Stock Unit, Performance Share or Stock Awards grants made after June 17, 2009 shall not be less than one (1) year. The vesting period for any time-based vesting of Stock Unit, Performance Share or Stock Award grants shall not be
less than three (3) years. Notwithstanding the foregoing, with respect to grants made after June 17, 2009, the vesting period for Stock Unit, Performance Share or Stock Award grants for up to five percent (5%) of the Shares authorized
under the Plan pursuant to Section 5(a) are permitted to have restriction periods other than in accordance with this Section 3(d). 
  

 3 

 (e) General Provisions Applicable to Awards—Acceleration. The Committee may
provide for the acceleration of vesting of grants; provided, however, that with respect to grants made after June 17, 2009, the Committee may provide for acceleration only upon termination of employment for death, disability or retirement or
upon a Change of Control. Notwithstanding the foregoing, with respect to grants made after June 17, 2009, the Committee may provide for accelerated vesting for up to five percent (5%) of the Shares authorized under the Plan pursuant to
Section 5(a) for other than termination of employment for death, disability or retirement or upon a Change of Control. 
  

	 	4.	Grants 

 Grants
under the Plan may consist of Options, SARs, Stock Units, Performance Shares, Stock Awards, Dividend Equivalents and Other Stock-Based Awards. All Grants shall be subject to the terms and conditions set forth herein and to such other terms and
conditions consistent with the Plan as the Committee deems appropriate and as are specified in writing by the Committee in separate guidelines or to the individual in the Grant Instrument or an amendment to the guidelines or Grant Instrument. The
Committee shall approve the form and provisions of each Grant Instrument. All Grants shall be made conditional upon the Participant’s acknowledgement, in writing or by acceptance of the Grant, that all decisions and determinations of the
Committee shall be final and binding on the Participant, his or her beneficiaries, and any other person having or claiming an interest under such Grant. Grants under a particular Section of the Plan need not be uniform as among the Participants.

  

	 	5.	Shares of Stock Subject to the Plan 

(a) Shares Authorized. The total aggregate number of shares of Stock that may be issued or transferred under the Plan is 7,600,000
shares, subject to adjustment as described below. The shares may be authorized but unissued shares of Stock or reacquired shares of Stock, including shares purchased by ICG on the open market for purposes of the Plan. Grants paid in cash shall not
count against the foregoing share limits. 
 (b) Share Counting. For administrative purposes, when the Committee makes a
Grant payable in Stock, the Committee shall reserve shares of Stock equal to the maximum number of shares of Stock that may be payable under the Grant. If and to the extent Options or SARs granted under the Plan terminate, expire, or are canceled,
forfeited, exchanged or surrendered without having been exercised or if any Stock Awards, Stock Units, Performance Shares, Dividend Equivalents or Other Stock-Based Awards are forfeited or terminated, or otherwise not paid in full, the shares
subject to such Grants which have not been issued shall again be available for purposes of the Plan. Shares of Stock surrendered in payment of the Option Price of an Option or withheld for purposes of satisfying the Company’s minimum tax
withholding obligations with respect to Grants under the Plan shall again be available for issuance or transfer under the Plan. To the extent that any Grants are paid in cash, and not in shares of Stock, any shares previously reserved for issuance
or transfer pursuant to such Grants shall again be available for issuance or transfer under the Plan. 
 (c) Individual
Limits. All Grants under the Plan, other than Dividend Equivalents, shall be expressed in shares of Stock. The maximum aggregate number of shares of Stock with respect to which all Grants, other than Dividend Equivalents, may be made under the
Plan to any individual during any calendar year shall be 1,000,000 shares, subject to adjustment as described below. A Participant may not accrue Dividend Equivalents during any calendar year in excess of $1,000,000. The individual limits
described in this subsection (c) shall apply without regard to whether the Grants are to be paid in Stock or in cash. All cash payments (other than Dividend Equivalents) shall equal the Fair Market Value of the shares of Stock to which the cash
payment relates. 
 (d) Adjustments. If there is any change in the number or kind of shares of Stock outstanding
(i) by reason of a stock dividend, spinoff, recapitalization, stock split, or combination or exchange of shares, (ii) by reason of a merger, reorganization or consolidation, (iii) by reason of a reclassification or change in par
value, or (iv) by reason of any other extraordinary or unusual event affecting the outstanding Stock as a class without ICG’s receipt of consideration, or if the value of outstanding shares of Stock is substantially reduced as a result of
a spinoff or ICG’s payment of an extraordinary dividend or distribution, the maximum number of shares of Stock available for issuance under the Plan, the maximum number of shares of Stock for which any individual may receive pursuant to Grants
in any year, the number of shares covered by outstanding Grants, the kind of shares to be issued or transferred under the Plan, and the price per share or the applicable market value of such Grants shall be appropriately adjusted to reflect any
increase or decrease in the number of, or change in the kind or value of, issued shares of Stock to preclude, to the extent practicable, the enlargement or dilution of rights and benefits under such Grants; provided, however, that any fractional
shares resulting from such adjustment shall be eliminated. Any adjustments shall be final, binding and conclusive. 
  

 4 

	 	6.	Eligibility for Participation 

(a) Eligible Persons. All Employees, including persons who have accepted employment with the Company and Employees who are officers
or members of the Board, and all Non-Management Directors shall be eligible to participate in the Plan. Consultants are eligible to participate in the Plan if they perform bona fide services for the Company, the services are not in connection with
the offer or sale of securities in a capital-raising transaction, and the Consultants do not directly or indirectly promote or maintain a market for ICG’s securities. 

(b) Selection of Participants. The Committee shall select the Employees, Consultants and Non-Management Directors to receive
Grants and shall determine the terms and conditions of the Grant and the number of shares of Stock subject to each Grant. 
  

	 	7.	Options 

 (a)
General Requirements. The Committee may grant Options to any Employee, Consultant or Non-Management Director upon such terms and conditions as the Committee deems appropriate under this Section 7. 

(b) Number of Shares. The Committee shall determine the number of shares of Stock that will be subject to each Grant of Options to
Employees, Consultants and Non-Management Directors. 
 (c) Type of Option and Price. 

(i) The Committee may grant Incentive Stock Options or Nonqualified Stock Options or any combination of Incentive Stock Options and
Nonqualified Stock Options. Incentive Stock Options may be granted only to Employees who have actually commenced employment with ICG or its Parent or Subsidiaries. Nonqualified Stock Options may be granted to Employees, Consultants and
Non-Management Directors. 
 (ii) The Option Price shall be determined by the Committee and may be equal to, greater than or
less than the Fair Market Value of the shares of Stock subject to the Grant on the Date of Grant; provided, however, that an Incentive Stock Option may not be granted to an Employee who, at the Date of Grant, owns stock possessing more than 10
percent of the total combined voting power of all classes of stock of ICG or any Parent or Subsidiary, unless the Option Price is not less than 110% of the Fair Market Value on the Date of Grant. 

(d) Option Term. The Committee shall determine the term of each Option. The term of an Option shall not exceed ten years from the
Date of Grant. However, an Incentive Stock Option that is granted to an Employee who, at the Date of Grant, owns stock possessing more than 10 percent of the total combined voting power of all classes of stock of ICG, or any Parent or Subsidiary,
may not have a term that exceeds five years from the Date of Grant. 
 (e) Exercisability of Options. Options shall
become exercisable in accordance with such terms and conditions as may be determined by the Committee and specified in the Grant Instrument. The Committee may accelerate the exercisability of any or all outstanding Options at any time for any
reason. 
 (f) Termination of Employment or Service. Except as provided in the Grant Instrument, an Option may only be
exercised while the Participant is employed by, or providing service to, the Company. The Committee shall specify in the Grant Instrument under what circumstances and during what time periods a Participant may exercise an Option after termination of
employment or service, subject to the limitations of Section 3(e). 
 (g) Exercise of Options. A Participant may
exercise an Option that has become exercisable, in whole or in part, by delivering a notice of exercise to ICG or its designated agent. The Participant shall pay the Option Price and any withholding taxes for the Option (i) in cash or by check,
(ii) with the approval of the Committee, by delivering shares of Stock owned by the Participant and having a Fair Market Value on the date of exercise equal to the Option Price or by attestation (on a form prescribed by the Committee) to
ownership of shares of Stock having an aggregate Fair Market Value on the date of exercise equal to the Option Price, (iii) in cash, on the T+3 settlement date that occurs after the exercise date specified in the notice of exercise, provided
that the Participant exercises the Option through an irrevocable agreement with a registered broker and the payment is made in accordance with procedures permitted by Regulation T of the Federal Reserve Board and such procedures do not violate
applicable law, or (iv) by such other method as the Committee may approve, to the extent permitted by applicable law. 
  

 5 

 
Shares of Stock used to exercise an Option shall have been held by the Participant for the requisite period of time to avoid adverse accounting consequences to ICG with respect to the Option.
Payment for the shares pursuant to the Option, and any required withholding taxes, must be received by the time specified by the Committee depending on the type of payment being made. 

(h) Limits on Incentive Stock Options. Each Incentive Stock Option shall provide that if the aggregate Fair Market Value on the
Date of Grant with respect to which Incentive Stock Options are exercisable for the first time by a Participant during any calendar year, under the Plan or any other stock option plan of ICG or a Parent or Subsidiary, exceeds $100,000, then the
Option, as to the excess, shall be treated as a Nonqualified Stock Option. 
  

	 	8.	SARs 

 (a)
General Requirements. The Committee may grant SARs to any Employee, Consultant or Non-Management Director, upon such terms and conditions as the Committee deems appropriate under this Section 8. Each SAR shall represent the right of the
Participant to receive, upon settlement of the SAR, shares of Stock or cash equal to the amount by which the Fair Market Value of a share of Stock on the date of exercise of the SAR exceeds the base amount of the SAR as described below in
Section 8(c). 
 (b) Terms of SARs. The Committee shall determine the terms and conditions of SARs and may grant
SARs separately from or in tandem with any Option (for all or a portion of the applicable Option). Tandem SARs may be granted either at the time the Option is granted or any time thereafter while the Option remains outstanding; provided, however,
that in the case of an Incentive Stock Option, SARs may be granted only at the time of the grant of the Incentive Stock Option. The Committee will determine the number of SARs to be granted, the base amount, the vesting and other restrictions
applicable to SARs and the period during which SARs will remain exercisable. 
 (c) Base Amount. The Committee shall
establish the base amount of the SAR at the time the SAR is granted. 
 (d) Payment With Respect to SARs. The Committee
shall determine whether the appreciation in an SAR shall be paid in the form of cash, in Stock, or in a combination of the two, in such proportion as the Committee deems appropriate. For purposes of calculating the number of shares of Stock to be
received, Stock shall be valued at its Fair Market Value on the date of exercise of the SAR. If shares of Stock are to be received upon exercise of an SAR, cash shall be delivered in lieu of any fractional share. 

(e) Requirement of Employment or Service. The Committee shall determine in the Grant Instrument under what circumstances a
Participant may retain SARs after termination of the Participant’s employment or service, and the circumstances under which SARs may be forfeited, subject to the limitations of Section 3(e). 

 

	 	9.	Stock Units 

 (a)
General Requirements. The Committee may grant Stock Units to any Employee, Consultant or Non-Management Director, upon such terms and conditions as the Committee deems appropriate under this Section 9, subject to the limitations of
Section 3(d). Each Stock Unit shall represent the right of the Participant to receive a share of Stock or an amount based on the value of a share of Stock. All Stock Units shall be credited to accounts on ICG’s records for purposes of the
Plan. 
  

 6 

 (b) Terms of Stock Units. The Committee may grant Stock Units that are payable if
specified performance goals or other conditions are met, or under other circumstances. Stock Units may be paid at the end of a specified period, or payment may be deferred to a date authorized by the Committee. The Committee shall determine the
number of Stock Units to be granted and the requirements applicable to such Stock Units. 
 (c) Payment With Respect to Stock
Units. Payment with respect to Stock Units shall be made in cash, in Stock, or in a combination of the two, as determined by the Committee. The Grant Instrument shall specify the maximum number of shares that shall be paid under the Stock Units.

 (d) Requirement of Employment or Service. The Committee shall determine in the Grant Instrument under what
circumstances a Participant may retain Stock Units after termination of the Participant’s employment or service, and the circumstances under which Stock Units may be forfeited. 

 

	 	10.	Performance Shares 

(a) General Requirements. The Committee may grant Performance Shares to any Employee, Consultant or Non-Management Director, upon
such terms and conditions as the Committee deems appropriate under this Section 10, subject to the limitations of Section 3(d). Each Performance Share shall represent the right of the Participant to receive a share of Stock or an amount
based on the value of a share of Stock, if specified performance goals are met. All Performance Shares shall be credited to accounts on ICG’s records for purposes of the Plan. 

(b) Terms of Performance Shares. The Committee shall establish the performance goals and other conditions for payment of
Performance Shares. Performance Shares may be paid at the end of a specified performance or other period, or payment may be deferred to a date authorized by the Committee. The Committee shall determine the number of Performance Shares to be granted
and the requirements applicable to such Performance Shares. 
 (c) Payment With Respect to Performance Shares. Payment
with respect to Performance Shares shall be made in cash, in Stock, or in a combination of the two, as determined by the Committee. The Committee shall establish in the Grant Instrument a target amount to be paid under a Performance Share based on
achievement of the performance goals. 
 (d) Requirement of Employment or Service. The Committee shall determine in the
Grant Instrument under what circumstances a Participant may retain Performance Shares after termination of the Participant’s employment or service, and the circumstances under which Performance Shares may be forfeited. 

 

	 	11.	Stock Awards 

 (a)
General Requirements. The Committee may issue or transfer shares of Stock to any Employee, Consultant or Non-Management Director under a Stock Award, upon such terms and conditions as the Committee deems appropriate under this
Section 11, subject to the limitations of Section 3(d). Shares of Stock issued or transferred pursuant to Stock Awards may be issued or transferred for cash consideration or for no cash consideration, and subject to restrictions or no
restrictions, as determined by the Committee. The Committee may establish conditions under which restrictions on Stock Awards shall lapse over a period of time or according to such other criteria as the Committee deems appropriate, including
restrictions based upon the achievement of specific performance goals. 
 (b) Number of Shares. The Committee shall
determine the number of shares of Stock to be issued or transferred pursuant to a Stock Award and any restrictions applicable to such shares. 

(c) Requirement of Employment or Service. The Committee shall determine in the Grant Instrument under what circumstances a
Participant may retain Stock Awards after termination of the Participant’s employment or service, and the circumstances under which Stock Awards may be forfeited. 
  

 7 

 (d) Restrictions on Transfer. While Stock Awards are subject to restrictions, a
Participant may not sell, assign, transfer, pledge or otherwise dispose of the shares of a Stock Award except upon death as described in Section 17. Each certificate, or electronic book entry equivalent, for a share of a Stock Award shall
contain a legend giving appropriate notice of the restrictions in the Grant. The Participant shall be entitled to have the legend removed when all restrictions on such shares have lapsed. The Committee may retain possession of any stock certificates
for Stock Awards until all restrictions on such shares have lapsed. 
 (e) Right to Vote and to Receive Dividends. Unless
the Committee determines otherwise, the Participant shall have the right to vote shares subject to Stock Awards and to receive any dividends or other distributions paid on such shares during the restriction period. The Committee may determine that a
Participant’s entitlement to dividends or other distributions with respect to a Stock Award shall be subject to achievement of performance goals or other conditions. 

 

	 	12.	Dividend Equivalents. 

(a) General Requirements. When the Committee makes a Grant under the Plan, the Committee may grant Dividend Equivalents in
connection with such Grants, under such terms and conditions as the Committee deems appropriate under this Section 12. Dividend Equivalents may be paid to Participants currently or may be deferred, as determined by the Committee. All Dividend
Equivalents that are not paid currently shall be credited to accounts on ICG’s records for purposes of the Plan. Dividend Equivalents may be accrued as a cash obligation, or may be converted to Stock Units for the Participant, as determined by
the Committee. Unless otherwise specified in the Grant Instrument, deferred Dividend Equivalents will not accrue interest. The Committee may provide that Dividend Equivalents shall be payable based on the achievement of specific performance goals.

 (b) Payment with Respect to Dividend Equivalents. Dividend Equivalents may be payable in cash, shares of Stock, or
other property, or in a combination of the foregoing, as determined by the Committee. 
  

	 	13.	Other Stock-Based Awards 

The Committee may grant other awards that are cash-based or based on, measured by or payable in Stock to Employees, Consultants or
Non-Management Directors, on such terms and conditions as the Committee deems appropriate under this Section 13. Other Stock-Based Awards may be granted subject to achievement of performance goals or other conditions and may be payable in Stock
or cash, or in a combination of the two, as determined by the Committee in the Grant Instrument. 
  

	 	14.	Qualified Performance-Based Compensation 

(a) Designation as Qualified Performance-Based Compensation. The Committee may determine that Stock Units, Performance Shares,
Stock Awards, Dividend Equivalents or Other Stock-Based Awards granted to an Employee shall be considered “qualified performance-based compensation” under section 162(m) of the Code. The provisions of this Section 14 shall apply to
any such Grants that are to be considered “qualified performance-based compensation” under section 162(m) of the Code. To the extent that Grants of Stock Units, Performance Shares, Stock Awards, Dividend Equivalents or Other Stock-Based
Awards designated as “qualified performance-based compensation” under section 162(m) of the Code are made, no such Grant may be made as an alternative to another Grant that is not designated as “qualified performance based
compensation” but instead must be separate and apart from all other Grants made. 
 (b) Performance Goals. When
Stock Units, Performance Shares, Stock Awards, Dividend Equivalents or Other Stock-Based Awards that are to be considered “qualified performance-based compensation” are granted, the Committee shall establish in writing (i) the
objective performance goals that must be met, (ii) the period during which performance will be measured, (iii) the maximum amounts that may be paid if the performance goals are met, and (iv) any other conditions that the Committee
deems appropriate and consistent with the Plan and the requirements of section 162(m) of the Code for “qualified performance-based compensation.” The performance goals shall satisfy the requirements for “qualified performance-based
compensation,” including the requirement that the achievement of the goals be substantially uncertain at the time they are established and that the performance goals be established in such a way that a third party with knowledge of the relevant
facts could determine whether and to what extent the performance goals have been met. 
  

 8 

 
The Committee shall not have discretion to increase the amount of compensation that is payable upon achievement of the designated performance goals, but the Committee may reduce the amount of
compensation that is payable upon achievement of the designated performance goals. 
 (c) Criteria Used for Objective
Performance Goals. The Committee shall use objectively determinable performance goals based on one or more of the following criteria: Stock price, earnings per share of Stock, net earnings, operating earnings, return on assets, stockholder
return, return on equity, growth in assets, share volume, sales, market share, change in net asset value, EBIT, EBITDA, cash flow, backlog or deferred revenue, strategic business criteria, meeting specific revenue targets, market penetration,
geographic business expansion, cost targets or goals relating to acquisitions or divestitures. The performance goals may relate to the Participant’s business unit or the performance of ICG or one or more ICG partner companies, or any
combination of the foregoing. Performance goals need not be uniform as among Participants. 
 (d) Timing of Establishment of
Goals. The Committee shall establish the performance goals in writing either before the beginning of the performance period or during a period ending no later than the earlier of (i) 90 days after the beginning of the performance period or
(ii) the date on which 25% of the performance period has been completed, or such other date as may be required or permitted under applicable regulations under section 162(m) of the Code. 

(e) Certification of Results. The Committee shall certify and announce the results for the performance period to all Participants
after ICG determines the financial results for the performance period. The Committee shall determine the amount, if any, to be paid pursuant to each Grant based on the achievement of the performance goals and the terms of each Grant Instrument.

 (f) Death, Disability or Other Circumstances. The Committee may provide in the Grant Instrument that Grants shall be
payable, in whole or in part, in the event of the Participant’s death or disability, a Change of Control or under other circumstances consistent with the Treasury regulations and rulings under section 162(m) of the Code. 

 

	 	15.	Deferrals 

 The
Committee may permit or require a Participant to defer receipt of the payment of cash or the delivery of shares of Stock that would otherwise be due to the Participant in connection with any Grant. The Committee shall establish rules and procedures
for such deferrals, which shall be consistent with the requirements of section 409A of the Code and the corresponding Treasury regulations and rulings. 
  

	 	16.	Withholding of Taxes 

(a) Required Withholding. All Grants under the Plan shall be subject to applicable federal (including FICA), state and local tax
withholding requirements. The Company may (i) require that the Participant or other person receiving or exercising Grants pay to the Company the amount of any federal, state or local taxes that the Company is required to withhold with respect
to such Grants, or (ii) deduct from other wages paid by the Company the amount of any withholding taxes due with respect to such Grants. 

(b) Election to Withhold Shares. If the Committee so permits, a Participant may elect to satisfy the Company’s tax
withholding obligation with respect to Grants paid in Stock by having shares withheld, at the time such Grants become taxable, up to an amount that does not exceed the minimum applicable withholding tax rate for federal (including FICA), state and
local tax liabilities. In addition, with respect to any required tax withholding amount that exceeds the minimum applicable withholding tax rate, the Committee may permit a Participant to satisfy such tax withholding obligation with respect to such
excess amount by providing that the Participant may elect to deliver to the Company shares of Stock owned by the Participant that have been held by the Participant for the requisite period of time to avoid adverse accounting consequences to ICG. The
elections described in this subsection (b) must be in a form and manner prescribed by the Committee and may be subject to the prior approval of the Committee. 

 

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	 	17.	Transferability of Grants 

(a) In General. Except as provided in this Section 17, only the Participant may exercise rights under a Grant during the
Participant’s lifetime. A Participant may not transfer those rights except by will or by the laws of descent and distribution, or, with respect to Grants other than Incentive Stock Options, if permitted in any specific case by the Committee,
pursuant to a domestic relations order. When a Participant dies, the Successor Participant may exercise such rights in accordance with the terms of the Plan. A Successor Participant must furnish proof satisfactory to ICG of his or her right to
receive the Grant under the Participant’s will or under the applicable laws of descent and distribution. 
 (b) Transfer
of Nonqualified Stock Options. Notwithstanding the foregoing, the Committee may provide in a Grant Instrument that a Participant may transfer Nonqualified Stock Options to family members or other persons or entities, consistent with applicable
securities laws, according to such terms as the Committee may determine; provided that the Participant receives no consideration for the transfer of a Nonqualified Stock Option and the transferred Nonqualified Stock Option shall continue to be
subject to the same terms and conditions as were applicable to the Nonqualified Stock Option immediately before the transfer. 
  

	 	18.	Consequences of a Change of Control 

(a) Assumption of Grants. Upon a Change of Control where ICG is not the surviving corporation (or survives only as a subsidiary of
another corporation), unless the Committee determines otherwise, all outstanding Options and SARs that are not exercised shall be assumed by, or replaced with comparable options and rights by, the surviving corporation (or a parent or subsidiary of
the surviving corporation), and other Grants that remain outstanding shall be converted to similar grants of the surviving corporation (or a parent or subsidiary of the surviving corporation). 

(b) Other Alternatives. Notwithstanding the foregoing, in the event of a Change of Control, the Committee may take any of the
following actions with respect to any or all outstanding Grants, without the consent of any Participant: (i) determine that outstanding Options and SARs shall accelerate and become exercisable, in whole or in part; (ii) determine that the
restrictions and conditions on outstanding Stock Awards shall lapse, in whole or in part; (iii) provide that Participants holding outstanding Performance Shares shall receive payment, in whole or in part, in settlement of such Performance
Shares, in an amount determined by the Committee, based on the Participant’s target payment for the performance period and the portion of the performance period that precedes the Change of Control; (iv) determine that outstanding Stock
Units shall become payable, in whole or in part, in cash, Stock or other property in an amount not less than their target amount, as determined by the Committee; (v) provide that Dividend Equivalents and Other Stock-Based Awards shall become
fully payable, in whole or in part, in cash, Stock or other property, in amounts determined by the Committee; (vi) the Committee may require that Participants surrender their outstanding Options and SARs in exchange for a payment by ICG, in
cash, Stock or other property, as determined by the Committee, in an amount equal to the amount by which the then Fair Market Value subject to the Participant’s unexercised Options and SARs exceeds the Option Price of the Options or the base
amount of the SARs, as applicable; (vii) after giving Participants an opportunity to exercise their outstanding Options and SARs, the Committee may terminate any or all unexercised Options and SARs at such time as the Committee deems
appropriate; and (viii) with respect to Participants holding Stock Units, Performance Shares, Dividend Equivalents or Other Stock-Based Awards, the Committee may determine that such Participants shall receive a payment in settlement of such
Stock Units, Performance Shares, Dividend Equivalents or Other Stock-Based Awards, in such amount and form as may be determined by the Committee. Such acceleration, surrender, termination or settlement shall take place as of the date of the Change
of Control or such other date as the Committee may specify. 
 (c) Other Transactions. The Committee may provide in a
Grant Instrument that a sale or other transaction involving a Subsidiary or other business unit of ICG shall be considered a Change of Control for purposes of a Grant, or the Committee may establish other provisions that shall be applicable in the
event of a specified transaction. 
  

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	 	19.	Requirements for Issuance of Shares 

No shares of Stock shall be issued or transferred in connection with any Grant hereunder unless and until all legal requirements
applicable to the issuance of such shares have been complied with to the satisfaction of the Committee. The Committee shall have the right to condition any Grant made to any Participant hereunder on such Participant’s undertaking in writing to
comply with such restrictions on his or her subsequent disposition of such shares of Stock as the Committee shall deem necessary or advisable, and certificates representing such shares may be legended to reflect any such restrictions. Certificates
representing shares of Stock issued or transferred under the Plan will be subject to such stop-transfer orders and other restrictions as may be required by applicable laws, regulations and interpretations, including any requirement that a legend be
placed thereon. 
  

	 	20.	Amendment and Termination of the Plan 

(a) Amendment. The Board may amend or terminate the Plan at any time; provided, however, that the Board shall not amend the Plan
without approval of the stockholders of ICG if such approval is required in order to comply with the Code or applicable laws, or to comply with applicable stock exchange requirements. No amendment or termination of this Plan shall, without the
consent of the Participant, impair any rights or obligations under any Grant previously made to the Participant, unless such right has been reserved in the Plan or the Grant Instrument, or except as provided in Section 21(b) below. 

(b) No Repricing Without Stockholder Approval. Notwithstanding anything in the Plan to the contrary, without the prior approval of
the Company’s stockholders, no Grant under the Plan may be repriced, replaced, regranted through cancellation or modified if the effect would be to reduce the exercise price for the shares underlying such Grant; provided, however, that the
foregoing shall not apply to any adjustment made to a Grant pursuant to Section 5(d) of the Plan. In addition, the Committee may not cancel an outstanding Grant that is underwater for the purpose of granting a replacement Grant of a different
type. 
 (c) Stockholder Approval for “Qualified Performance-Based Compensation.” If Stock Units, Performance
Shares, Stock Awards, Dividend Equivalents or Other Stock-Based Awards are granted as “qualified performance-based compensation” under Section 14 above, the Plan must be reapproved by ICG’s stockholders no later than the first
stockholders meeting that occurs in the fifth year following the year in which the stockholders previously approved the provisions of Section 14, if additional Grants are to be made under Section 14 and if required by section 162(m) of the
Code or the regulations thereunder. 
 (d) Termination of Plan. The Plan shall terminate on the day immediately preceding
the tenth anniversary of its Effective Date, unless the Plan is terminated earlier by the Board or is extended by the Board with the approval of the stockholders. The termination of the Plan shall not impair the power and authority of the Committee
with respect to an outstanding Grant. 
  

	 	21.	Miscellaneous 

 (a)
Grants in Connection with Corporate Transactions and Otherwise. Nothing contained in this Plan shall be construed to (i) limit the right of the Committee to make Grants under this Plan in connection with the acquisition, by purchase,
lease, merger, consolidation or otherwise, of the business or assets of any corporation, firm or association, including Grants to employees thereof who become Employees, or for other proper corporate purposes, or (ii) limit the right of ICG to
grant stock options or make other awards outside of this Plan. Without limiting the foregoing, the Committee may make a Grant to an employee of another corporation who becomes an Employee by reason of a corporate merger, consolidation, acquisition
of stock or property, reorganization or liquidation involving ICG in substitution for a grant made by such corporation. The terms and conditions of the substitute Grants may vary from the terms and conditions required by the Plan and from those of
the substituted stock incentives. The Committee shall prescribe the provisions of the substitute Grants. 
 (b) Compliance
with Law. The Plan, the exercise of Options and the obligations of ICG to issue or transfer shares of Stock under Grants shall be subject to all applicable laws and to approvals by any governmental or regulatory agency as may be required. With
respect to persons subject to section 16 of the Exchange Act, it is the intent of ICG that the Plan and all transactions under the Plan comply with all applicable provisions of Rule 16b-3 or its successors under the Exchange Act.

  

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In addition, it is the intent of ICG that the Plan and applicable Grants comply with the applicable provisions of sections 162(m), 409A and 422 of the Code. To the extent that any legal
requirement of section 16 of the Exchange Act or sections 162(m), 409A or 422 of the Code as set forth in the Plan ceases to be required under section 16 of the Exchange Act or sections 162(m), 409A or 422 of the Code, that Plan provision shall
cease to apply. The Committee may revoke any Grant if it is contrary to law or modify a Grant to bring it into compliance with any valid and mandatory government regulation. The Committee may also adopt rules regarding the withholding of taxes on
payments to Participants. The Committee may, in its sole discretion, agree to limit its authority under this Section. 
 (c)
Enforceability. The Plan shall be binding upon and enforceable against ICG and its successors and assigns. 
 (d)
Funding of the Plan; Limitation on Rights. This Plan shall be unfunded. Neither ICG nor any other Company shall be required to establish any special or separate fund or to make any other segregation of assets to assure the payment of any
Grants under this Plan. Nothing contained in the Plan and no action taken pursuant hereto shall create or be construed to create a fiduciary relationship between ICG or any other Company and any Participant or any other person. No Participant or any
other person shall under any circumstances acquire any property interest in any specific assets of ICG or any other Company. To the extent that any person acquires a right to receive payment from ICG hereunder, such right shall be no greater than
the right of any unsecured general creditor of ICG. 
 (e) Rights of Participants. Nothing in this Plan shall entitle any
Employee, Consultant, Non-Management Director or other person to any claim or right to receive a Grant under this Plan. Neither this Plan nor any action taken hereunder shall be construed as giving any individual any rights to be retained by or in
the employment or service of the Company. 
 (f) No Fractional Shares. No fractional shares of Stock shall be issued or
delivered pursuant to the Plan or any Grant. The Committee shall determine whether cash, other awards or other property shall be issued or paid in lieu of such fractional shares or whether such fractional shares or any rights thereto shall be
forfeited or otherwise eliminated. 
 (g) Employees Subject to Taxation Outside the United States. With respect to
Participants who are subject to taxation in countries other than the United States, the Committee may make Grants on such terms and conditions as the Committee deems appropriate to comply with the laws of the applicable countries, and the Committee
may create such procedures, addenda and subplans and make such modifications as may be necessary or advisable to comply with such laws. 

(h) Governing Law. The validity, construction, interpretation and effect of the Plan and Grant Instruments issued under the Plan
shall be governed and construed by and determined in accordance with the laws of the State of Delaware, without giving effect to the conflict of laws provisions thereof. 
  

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