Document:

Exhibit 10.1

 

OPEN
MARKET SALE AGREEMENTSM

 

December
18, 2020

 

JEFFERIES LLC

520 Madison Avenue

New York, New York 10022

 

Ladies and Gentlemen:

 

ImmunoGen,
Inc., a Massachusetts corporation (the “Company”), proposes, subject to the terms and conditions stated herein,
to issue and sell from time to time through Jefferies LLC, as sales agent and/or principal (the “Agent”), shares
of the Company’s common stock, par value $0.01 per share (the “Common Shares”), having an aggregate offering
price of up to $150,000,000 on the terms set forth in this agreement (this “Agreement”).

 

Section
1. DEFINITIONS

 

(a)              
Certain Definitions. For purposes of this Agreement, capitalized terms used herein and not otherwise defined shall
have the following respective meanings:

 

“Affiliate”
of a Person means another Person that directly or indirectly, through one or more intermediaries, controls, is controlled by, or
is under common control with, such first- mentioned Person. The term “control” (including the terms “controlling,”
 “controlled by” and “under common control with”) means the possession, direct or indirect, of the power
to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities,
by contract or otherwise.

 

“Agency
Period” means the period commencing on the date of this Agreement and expiring on the earliest to occur of (x) the date
on which the Agent shall have placed the Maximum Program Amount pursuant to this Agreement and (y) the date this Agreement is terminated
pursuant to ‎Section 7.

 

“Commission”
means the U.S. Securities and Exchange Commission.

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission thereunder.

 

“Floor Price”
means the minimum price set by the Company in the Issuance Notice below which the Agent shall not sell Shares during the applicable
period set forth in the Issuance Notice, which may be adjusted by the Company at any time during the period set forth in the Issuance
Notice by delivering written notice of such change to the Agent and which in no event shall be less than $1.00 without the prior
written consent of the Agent, which may be withheld in the Agent’s sole discretion.

 

 

SM “Open
Market Sale Agreement” is a service mark of Jefferies LLC

 

     

     

    

 

“Issuance
Amount” means the aggregate Sales Price of the Shares to be sold by the Agent pursuant to any Issuance Notice.

 

“Issuance
Notice” means a written notice delivered to the Agent by the Company in accordance with this Agreement in the form attached
hereto as Exhibit A that is executed by its Chief Executive Officer, President
or Chief Financial Officer.

 

“Issuance
Notice Date” means any Trading Day during the Agency Period that an Issuance Notice is delivered
pursuant to ‎Section 3(b)(i).

 

“Issuance
Price” means the Sales Price less the Selling Commission.

 

“Maximum
Program Amount” means Common Shares with an aggregate Sales Price of the lesser of (a) the number or dollar amount of
Common Shares registered under the effective Registration Statement (as defined below) pursuant to which the offering is being
made, (b) the number of authorized but unissued Common Shares (less Common Shares issuable upon exercise, conversion or exchange
of any outstanding securities of the Company or otherwise reserved from the Company’s authorized capital stock), (c) the
number or dollar amount of Common Shares permitted to be sold under Form S-3 (including General Instruction I.B.6 thereof, if
applicable), or (d) the number or dollar amount of Common Shares for which the Company has filed a Prospectus (as defined below).

 

“Person”
means an individual or a corporation, partnership, limited liability company, trust, incorporated or unincorporated association,
joint venture, joint stock company, governmental authority or other entity of any kind.

 

“Principal
Market” means the Nasdaq Global Select Market or such other national securities exchange on which the Common Shares,
including any Shares, are then listed.

 

“Sales Price”
means the actual sale execution price of each Share placed by the Agent pursuant to this Agreement.

 

“Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations of the Commission thereunder.

 

“Selling
Commission” means three percent (3%) of the gross proceeds of Shares sold pursuant to this Agreement, or as otherwise
agreed between the Company and the Agent with respect to any Shares sold pursuant to this Agreement.

 

“Settlement
Date” means the second business day following each Trading Day during the period set forth in the Issuance Notice
on which Shares are sold pursuant to this Agreement, when the Company shall deliver to the Agent the amount of Shares sold on
such Trading Day and the Agent shall deliver to the Company the Issuance Price received on such sales.

 

“Shares”
means the Company’s Common Shares issued or issuable pursuant to this Agreement.

 

“Trading Day”
means any day on which the Principal Market is open for trading.

 

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Section
2. REPRESENTATIONS AND WARRANTIES OF THE COMPANY

 

The Company represents
and warrants to, and agrees with, the Agent that as of (1) the date of this Agreement, (2) each Issuance Notice Date, (3) each
Settlement Date, (4) each Triggering Event Date (as defined below) with respect to which the Company is required to deliver a certificate
pursuant to Section 4(o) and (5) as of each Time of Sale (as defined below) (each of the times referenced above is referred
to herein as a “Representation Date”), except as may be disclosed in the Prospectus (including any documents
incorporated by reference therein and any supplements thereto) on or before a Representation Date:

 

(a)              
Registration Statement. The Company has prepared and filed with the Commission a shelf registration statement on
Form S-3 that contains a base prospectus. Such registration statement registers the issuance
and sale by the Company of the Shares under the Securities Act. The Company may file one or more additional registration statements
from time to time that will contain a base prospectus and related prospectus or prospectus supplement, if applicable, with respect
to the Shares. Except where the context otherwise requires, such registration statement(s), including any information deemed to
be a part thereof pursuant to Rule 430B under the Securities Act, including all financial statements, exhibits and schedules thereto
and all documents incorporated or deemed to be incorporated therein by reference pursuant to Item 12 of Form S-3 under the Securities
Act as from time to time amended or supplemented, is herein referred to as the “Registration Statement,” and
the prospectus constituting a part of such registration statement(s), together with any prospectus supplement filed with the Commission
pursuant to Rule 424(b) under the Securities Act relating to a particular issuance of the Shares, including all documents incorporated
or deemed to be incorporated therein by reference pursuant to Item 12 of Form S-3 under the Securities Act, in each case, as from
time to time amended or supplemented, is referred to herein as the “Prospectus,” except that if any revised
prospectus is provided to the Agent by the Company for use in connection with the offering of the Shares that is not required to
be filed by the Company pursuant to Rule 424(b) under the Securities Act, the term “Prospectus” shall refer
to such revised prospectus from and after the time it is first provided to the Agent for such use. The Registration Statement at
the time it originally became effective is herein called the “Original Registration Statement.” As used in this
Agreement, the terms “amendment” or “supplement” when applied to the Registration Statement or the Prospectus
shall be deemed to include the filing by the Company with the Commission of any document under the Exchange Act after the date
hereof that is or is deemed to be incorporated therein by reference.

 

All references in this
Agreement to financial statements and schedules and other information which is “contained,” “included”
or “stated” in or “part of” the Registration Statement or the Prospectus (and all other references of like
import) shall be deemed to mean and include all such financial statements and schedules and other information which is or is deemed
to be incorporated by reference in or otherwise deemed under the Securities Act to be a part of or included in the Registration
Statement or the Prospectus, as the case may be, as of any specified date; and all references in this Agreement to amendments or
supplements to the Registration Statement or the Prospectus shall be deemed to mean and include, without limitation, the filing
of any document under the Exchange Act which is or is deemed to be incorporated by reference in or otherwise deemed under the Securities
Act to be a part of or included in the Registration Statement or the Prospectus, as the case may be, as of any specified date.
The Company’s obligations under this Agreement to furnish, provide or deliver or make available copies of any report or statement
shall be deemed satisfied if the same is filed with the Commission through its Electronic Data Gathering, Analysis and Retrieval
system (“EDGAR”).

 

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At
the time the Registration Statement became or will become originally effective and at the time the Company’s most recent
annual report on Form 10-K was filed with the Commission, if later, the Company met the then-applicable requirements for use
of Form S-3 under the Securities Act. During the Agency Period, each time the Company files an annual report on Form
10-K the Company will meet the then-applicable requirements for use of Form S-3 under the Securities Act.

 

(b)              
Compliance with Registration Requirements. The Original Registration Statement and any Rule 462(b) Registration
Statement are effective under the Securities Act. The Company has complied to the Commission’s satisfaction with all requests
of the Commission for additional or supplemental information. No stop order suspending the effectiveness of the Registration Statement
or any Rule 462(b) Registration Statement is in effect and no proceedings for such purpose have been instituted or are pending
or, to the best knowledge of the Company, are contemplated or threatened by the Commission.

 

The
Prospectus when filed complied or will comply in all material respects with the Securities Act and, if filed with the Commission
through EDGAR (except as may be permitted by Regulation S-T under the Securities Act), was identical to the copy thereof delivered
to the Agent for use in connection with the issuance and sale of the Shares. Each of the Registration Statement, any Rule 462(b)
Registration Statement and any post-effective amendment thereto, at the time it became or becomes effective and at each Representation
Date, complied and will comply in all material respects with the Securities Act and did not and will 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. As of the date of this Agreement, the Prospectus and any Free Writing Prospectus (as defined below) considered together
(collectively, the “Time of Sale Information”) did not contain any untrue statement of a material fact or omit
to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made,
not misleading. The Prospectus, as amended or supplemented, as of its date and at each Representation Date, did not and will not
contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein,
in the light of the circumstances under which they were made, not misleading. The representations and warranties set forth in the
three immediately preceding sentences do not apply to statements in or omissions from the Registration Statement, any Rule 462(b)
Registration Statement, or any post-effective amendment thereto, or the Prospectus, or any amendments or supplements thereto, made
in reliance upon and in conformity with information relating to the Agent furnished to the Company in writing by the Agent expressly
for use therein, it being understood and agreed that the only such information furnished by the Agent to the Company consists of
the information described in ‎Section 6 below defined as Agent Information. There are no contracts or other documents
required to be described in the Prospectus or to be filed as exhibits to the Registration Statement which have not been described
or filed as required. The Registration Statement and the offer and sale of the Shares as contemplated hereby meet the requirements
of Rule 415 under the Securities Act and comply in all material respects with said rule.

 

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(c)              
Ineligible Issuer Status. The Company is not an “ineligible issuer” in connection with the offering of
the Shares pursuant to Rules 164, 405 and 433 under the Securities Act. Any Free Writing Prospectus that the Company is required
to file pursuant to Rule 433(d) under the Securities Act has been, or will be, filed with the Commission in accordance with the
requirements of the Securities Act. Each Free Writing Prospectus that the Company has filed, or is required to file, pursuant to
Rule 433(d) under the Securities Act or that was prepared by or on behalf of or used or referred to by the Company complies or
will comply in all material respects with the requirements of Rule 433 under the Securities Act including timely filing with the
Commission or retention where required and legending, and each such Free Writing Prospectus, as of its issue date and at all subsequent
times through the completion of the issuance and sale of the Shares did not, does not and will not include any information that
conflicted, conflicts with or will conflict with the information contained in the Registration Statement or the Prospectus, including
any document incorporated by reference therein. Except for the Free Writing Prospectuses, if any, and electronic road shows, if
any, furnished to the Agent before first use, the Company has not prepared, used or referred to, and will not, without the Agent’s
prior consent, which consent shall not be unreasonably withheld, conditioned or delayed, prepare, use or refer to, any Free Writing
Prospectus.

 

(d)              
Incorporated Documents. The documents incorporated or deemed to be incorporated by reference in the Registration
Statement and the Prospectus, at the time they were filed with the Commission, complied in all material respects with the requirements
of the Exchange Act, as applicable, and, when read together with the other information in the Prospectus, do not contain an 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, in light of the circumstances under which they were made, not misleading.

 

(e)              
Exchange Act Compliance. The documents incorporated or deemed to be incorporated by reference in the Prospectus,
at the time they were or hereafter are filed with the Commission, and any Free Writing Prospectus or amendment or supplement thereto
complied and will comply in all material respects with the requirements of the Exchange Act, and, when read together with the other
information in the Prospectus, at the time the Registration Statement and any amendments thereto become effective and at each Representation
Date, as the case may be, will not contain an untrue statement of a material fact or omit to state a material fact required to
be stated therein or necessary to make the fact required to be stated therein or necessary to make the statements therein, in the
light of the circumstances under which they were made, not misleading.

 

(f)               
Financial Statements.  The financial statements (including the related notes thereto) of the Company
and its consolidated subsidiaries included or incorporated by reference in the Registration Statement and the Prospectus comply
in all material respects with the applicable requirements of the Securities Act and the Exchange Act, as applicable, and present
fairly the financial position of the Company and its consolidated subsidiaries as of the dates indicated and the results of their
operations and the changes in their cash flows for the periods specified, it being understood that unaudited interim financial
statements are subject to normal year-end adjustments; such financial statements have been prepared in conformity with generally
accepted accounting principles in the United States applied on a consistent basis throughout the periods covered thereby, except
as may be otherwise specified therein or to the extent unaudited interim financial statements exclude footnotes or may be condensed
or summary statements, and any supporting schedules included or incorporated by reference in the Registration Statement present
fairly the information required to be stated therein; and the other financial information included or incorporated by reference
in the Registration Statement and the Prospectus has been derived from the accounting records of the Company and its consolidated
subsidiaries and presents fairly the information shown thereby. To the Company’s knowledge, no person who has been suspended
or barred from being associated with a registered public accounting firm, or who has failed to comply with any sanction pursuant
to Rule 5300 promulgated by the PCAOB, has participated in or otherwise aided the preparation of, or audited, the financial statements,
supporting schedules or other financial data filed with the Commission as a part of the Registration Statement and the Prospectus.

 

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(g)              
No Material Adverse Change.  Except as otherwise disclosed in the Registration Statement and the Prospectus,
subsequent to the respective dates as of which information is given in the Registration Statement and the Prospectus: (i) 
there has been no material adverse change, or any development that would result in a material adverse change, in (A) the condition,
financial or otherwise, or in the shareholders’ equity, earnings, business, properties, management, operations, operating
results, assets, liabilities or prospects, whether or not arising from transactions in the ordinary course of business, of the
Company and its subsidiaries, considered as one entity or (B) the ability of the Company to consummate the transactions contemplated
by this Agreement or perform its obligations hereunder (any such change being referred to herein as a “Material Adverse
Change”); (ii) there has not been any change in the capital stock (other than the issuance of Stock issued pursuant to
the exercise of stock options or vesting of deferred stock units or restricted stock units under the Company Stock Plans (as defined
below), the issuance of restricted stock under the Company Stock Plans, or the issuance of sock under the Company’s existing
employee stock purchase plan), long-term debt, notes payable or current portion of long-term debt of the Company or any of its
subsidiaries, or any dividend or distribution of any kind declared, set aside for payment, paid or made by the Company on any class
of capital stock; (iii) neither the Company nor any of its subsidiaries has entered into any transaction or agreement that
is material to the Company and its subsidiaries taken as a whole or incurred any liability or obligation, direct or contingent,
that is material to the Company and its subsidiaries taken as a whole; and (iv) neither the Company nor any of its subsidiaries
has sustained any material loss or interference with its business from fire, explosion, flood or other calamity, whether or not
covered by insurance, or from any labor disturbance or dispute or any action, order or decree of any court or arbitrator or governmental
or regulatory authority.

 

(h)              
Organization and Good Standing.  The Company and each of its “subsidiaries” (for purposes
of this Agreement, as defined in Rule 405 under the Securities Act) have been duly organized and are validly existing and in good
standing under the laws of their respective jurisdictions of organization, are duly qualified to do business and are in good standing
in each jurisdiction in which their respective ownership or lease of property or the conduct of their respective businesses requires
such qualification, and have the corporate and authority necessary to own or hold their respective properties and to conduct the
businesses in which they are engaged, except where the failure to be so qualified, in good standing or have such power or authority
would not, individually or in the aggregate, result in a Material Adverse Change.  All of the issued and outstanding capital
stock or other equity or ownership interests of each of the Company’s subsidiaries have been duly authorized and validly
issued, are fully paid and nonassessable and are owned by the Company, directly or through subsidiaries, free and clear of any
security interest, mortgage, pledge, lien, encumbrance or adverse claim. None of the outstanding capital stock or equity interest
in any subsidiary was issued in violation of preemptive or similar rights of any security holder of such subsidiary. The constitutive
or organizational documents of each of the subsidiaries comply in all material respects with the requirements of applicable laws
of its jurisdiction of incorporation or organization and are in full force and effect. The Company does not own or control, directly
or indirectly, any corporation, association or other entity other than the subsidiaries listed in Exhibit 21 to the Company’s
most recent Annual Report on Form 10-K.

 

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(i)                
Capitalization.  The Company has an authorized capitalization as set forth in the Registration Statement
and the Prospectus; all the outstanding shares of capital stock of the Company have been duly and validly authorized and issued
and are fully paid and non-assessable and are not subject to any pre-emptive or similar rights; except as described in or expressly
contemplated by the Prospectus, there are no outstanding rights (including, without limitation, pre-emptive rights), warrants or
options to acquire, or instruments convertible into or exchangeable for, any shares of capital stock or other equity interest in
the Company or any of its subsidiaries, or any contract, commitment, agreement, understanding or arrangement of any kind relating
to the issuance of any capital stock of the Company or any such subsidiary, any such convertible or exchangeable securities or
any such rights, warrants or options; the capital stock of the Company conforms in all material respects to the description thereof
contained in the Registration Statement and the Prospectus; and all the outstanding shares of capital stock or other equity interests
of each subsidiary owned, directly or indirectly, by the Company have been duly and validly authorized and issued, are fully paid
and non-assessable and are owned directly or indirectly by the Company, free and clear of any lien, charge, encumbrance, security
interest, restriction on voting or transfer or any other claim of any third party. None of the outstanding capital stock or equity
interest in any subsidiary was issued in violation of preemptive or similar rights of any security holder of such subsidiary.

 

(j)                
Stock Options.  With respect to the stock options (the “Stock Options”) granted pursuant
to the stock-based compensation plans of the Company and its subsidiaries (the “Company Stock Plans”), (i) each
grant of a Stock Option was duly authorized no later than the date on which the grant of such Stock Option was by its terms to
be effective (the “Grant Date”) by all necessary corporate action, including, as applicable, approval by the
board of directors of the Company (or a duly constituted and authorized committee thereof) and any required stockholder approval
by the necessary number of votes or written consents, and the award agreement governing such grant (if any) was duly executed and
delivered by each party thereto, (ii) each such grant was, in all material respects, made in accordance with the terms of
the Company Stock Plans, the Exchange Act and all other applicable laws and regulatory rules or requirements, including the
Code, the rules of the Principal Market and any other exchange on which Company securities are traded, and (iii) each
such grant was, in all material respects, properly accounted for in accordance with U.S. generally accepted accounting principles
in the financial statements (including the related notes) of the Company and disclosed in the Company’s filings with the
Commission in accordance with the Exchange Act and all other applicable laws. The Company has not knowingly granted, and there
is no and has been no policy or practice of the Company of granting, Stock Options prior to, or otherwise coordinating the grant
of Stock Options with, the release or other public announcement of material information regarding the Company or its subsidiaries
or their results of operations or prospects. The descriptions of the Company’s stock option, stock bonus and other stock
plans or arrangements, and the options or other rights granted thereunder, set forth in the Registration Statement and the Prospectus
accurately and fairly presents, in all material respects, the information required to be shown with respect to such plans, arrangements,
options and rights.

 

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(k)              
Due Authorization.  The Company has full right, power and authority to execute and deliver this Agreement
and to perform its obligations hereunder; and all action required to be taken for the due and proper authorization, execution and
delivery by it of this Agreement and the consummation of the transactions contemplated hereby has been duly and validly taken.

 

(l)                
This Agreement.  This Agreement has been duly authorized, executed and delivered by the Company.

 

(m)            
The Shares.  The Shares to be issued and sold by the Company hereunder have been duly authorized by the
Company and, when issued and delivered and paid for as provided herein, will be duly and validly issued and will be fully paid
and nonassessable and will conform to the descriptions thereof in the Registration Statement and the Prospectus; and the issuance
of the Shares is not subject to any preemptive or similar rights, other than those which were complied with by the Company.

 

(n)              
Description of this Agreement.  This Agreement conforms in all material respects to the description thereof
contained in the Registration Statement and the Prospectus.

 

(o)              
No Violation or Default.  Neither the Company nor any of its subsidiaries is (i) in violation of
its charter or by-laws or similar organizational documents; (ii) in default, and no event has occurred that, with notice or
lapse of time or both, would constitute such a default, in the due performance or observance of any term, covenant or condition
contained in any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which the Company or any
of its subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any of the property or assets
of the Company or any of its subsidiaries is subject; or (iii) in violation of any law or statute or any judgment, order,
rule or regulation of any court or arbitrator or governmental or regulatory authority, except, in the case of clauses (ii) and
(iii) above, for any such default or violation that would not, individually or in the aggregate, result in a Material Adverse
Change.

 

(p)              
No Conflicts.  The execution, delivery and performance by the Company of this Agreement, the issuance
and sale of the Shares and the consummation of the transactions contemplated by this Agreement or the Prospectus have been duly
authorized by all necessary corporate action and will not (i) conflict with or result in a breach or violation of any of the
terms or provisions of, or constitute a default under, or result in the creation or imposition of any lien, charge or encumbrance
upon any property or assets of the Company or any of its subsidiaries pursuant to, any indenture, mortgage, deed of trust, loan
agreement or other agreement or instrument to which the Company or any of its subsidiaries is a party or by which the Company
or any of its subsidiaries is bound or to which any of the property or assets of the Company or any of its subsidiaries is subject,
(ii) result in any violation of the provisions of the charter or by-laws or similar organizational documents of the Company
or any of its subsidiaries or (iii) result in the violation of any law or statute or any judgment, order, rule or regulation
of any court or arbitrator or governmental or regulatory authority except, in the case of clauses (i) and (iii) above,
for any such conflict or violation that would not, individually or in the aggregate, result in a Material Adverse Change.

 

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(q)              
No Consents Required.  No consent, approval, authorization, order, license, registration or qualification
of or with any court or arbitrator or governmental or regulatory authority is required for the execution, delivery and performance
by the Company of this Agreement, the issuance and sale of the Shares and the consummation of the transactions contemplated by
this Agreement, except for the registration of the Shares under the Securities Act, as may be required by the Financial Industry
Regulatory Authority, Inc. (“FINRA”) and under applicable state or foreign securities laws in connection
with the purchase and distribution of the Shares.

 

(r)               
Legal Proceedings.  Except as described in the Registration Statement and the Prospectus, there are no
legal, governmental or regulatory investigations, actions, suits or proceedings pending to which the Company or any of its subsidiaries
is or may be a party or to which any property of the Company or any of its subsidiaries is or may be the subject that, individually
or in the aggregate, if determined adversely to the Company or any of its subsidiaries, would reasonably be expected to result
in a Material Adverse Change; to the knowledge of the Company, no such investigations, actions, suits or proceedings are threatened
or contemplated by any governmental or regulatory authority or threatened by others; and (i) there are no current or pending
legal, governmental or regulatory actions, suits or proceedings that are required under the Securities Act to be described in the
Registration Statement or the Prospectus that are not so described in the Registration Statement and the Prospectus and (ii) there
are no statutes, regulations or contracts or other documents that are required under the Securities Act to be filed as exhibits
to the Registration Statement or described in the Registration Statement or the Prospectus that are not so filed as exhibits to
the Registration Statement or described in the Registration Statement and the Prospectus.

 

(s)               
Independent Accountants.  Ernst & Young LLP, who have certified certain financial statements
of the Company and its subsidiaries, is an independent registered public accounting firm with respect to the Company and its subsidiaries
within the applicable rules and regulations adopted by the Commission and the Public Company Accounting Oversight Board (United
States) and as required by the Securities Act.

 

(t)                
Title to Real and Personal Property.  Except as described in the Registration Statement and the Prospectus,
the Company and its subsidiaries have good and marketable title in fee simple (in the case of real property) to, or have valid
rights to lease or otherwise use, all items of real and personal property that are material to the respective businesses of the
Company and its subsidiaries, in each case free and clear of all liens, encumbrances, claims and defects and imperfections of title
except those that (i) do not materially interfere with the use made and proposed to be made of such property by the Company
and its subsidiaries or (ii) would not reasonably be expected to, individually or in the aggregate, result in a Material Adverse
Change.

 

(u)              
Title to Intellectual Property.  Except as described in the Registration Statement and the Prospectus,
the Company and its subsidiaries own, or have obtained valid and enforceable licenses for, or other rights to use, the inventions,
patent applications, patents, trademarks (both registered and unregistered), trade names, copyrights, trade secrets and other proprietary
information (collectively, the “Intellectual Property”) described in the Registration Statement and the Prospectus
as being owned or licensed by them; to the Company’s knowledge and except as described in the Registration Statement and
the Prospectus, the Company and its subsidiaries own, or have obtained valid and enforceable licenses for, or other rights to use,
all Intellectual Property used in, or necessary for the conduct of, their respective businesses as described in the Registration
Statement and the Prospectus, except as would not reasonably be expected to result in a Material Adverse Change; to the Company’s
knowledge, there is no pending or threatened action, suit, proceeding or claim by others that the Company infringes or otherwise
violates any Intellectual Property rights of others, except as would not reasonably be expected to result in a Material Adverse
Change, and the Company is unaware of any facts which could form a reasonable basis for any such claim; and none of the technology
employed by the Company has been obtained or is being used by the Company in violation of any contractual obligation binding on
the Company or, to the Company’s knowledge, upon any of its officers, directors or employees. To the Company’s knowledge,
there are no third parties who have or will be able to establish rights to any Intellectual Property described in the Registration
Statement and the Prospectus as exclusively owned or exclusively licensed by the Company, except as would not reasonably be expected
to result in a Material Adverse Change or except for licenses granted in writing by the Company or its subsidiaries to any third-parties
(“Exclusive Intellectual Property”); there is no pending or, to the Company’s knowledge, threatened action,
suit, proceeding or claim by others challenging the Company’s ownership or rights in or to any Exclusive Intellectual Property,
and the Company is unaware of any facts which would form a reasonable basis for any such claim except as could not reasonably be
expected to result in a Material Adverse Change; there is no pending or, to the Company’s knowledge, threatened action, suit,
proceeding or claim by others challenging the validity or scope of any Exclusive Intellectual Property, and the Company is unaware
of any facts which would form a reasonable basis for any such claim except as could not reasonably be expected to result in a Material
Adverse Change; to the Company’s knowledge, there is no patent or patent application that contains claims that interfere
with the issued or pending claims of any of the Intellectual Property except as would not reasonably be expected to result in a
Material Adverse Change; and to the Company’s knowledge, there is no prior art material to any patent or patent application
of the Exclusive Intellectual Property that has not been disclosed to the U.S. Patent and Trademark Office, except as would not
reasonably be expected to result in a Material Adverse Change.

 

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(v)              
No Undisclosed Relationships.  No relationship, direct or indirect, exists between or among the Company
or any of its subsidiaries, on the one hand, and the directors, officers, stockholders, customers or suppliers of the Company or
any of its subsidiaries, on the other, that is required by the Securities Act to be described in the Registration Statement and
the Prospectus and that is not so described in such documents.

 

(w)            
Investment Company Act.  The Company is not and, after giving effect to the offering and sale of the
Shares and the application of the proceeds thereof as described in the Registration Statement and the Prospectus, will not be required
to register as an “investment company” or an entity “controlled” by an “investment company”
within the meaning of the Investment Company Act of 1940, as amended, and the rules and regulations of the Commission thereunder
(collectively, the “Investment Company Act”).

 

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(x)              
Taxes.  The Company and its subsidiaries have paid all federal, state, local and foreign taxes and filed
all tax returns required to be paid or filed through the date hereof; and except as otherwise disclosed in the Registration Statement
and the Prospectus, there is no tax deficiency that has been, or could reasonably be expected to be, asserted against the Company
or any of its subsidiaries or any of their respective properties or assets; except in each case where such failure to file or such
tax deficiency would not result in a Material Adverse Change.

 

(y)              
Licenses and Permits.  Except as otherwise disclosed Prospectus, the Company and its subsidiaries possess
all licenses, certificates, permits and other authorizations issued by, and have made all declarations and filings with, the appropriate
federal, state, local or foreign governmental or regulatory authorities that are necessary for the ownership or lease of their
respective properties or the conduct of their respective businesses as described in the Registration Statement and the Prospectus,
except where the failure to possess or make the same would not, individually or in the aggregate, result in a Material Adverse
Change; and except as described in the Registration Statement and the Prospectus, neither the Company nor any of its subsidiaries
has received notice of any revocation or modification of any such license, certificate, permit or authorization or has any reason
to believe that any such license, certificate, permit or authorization will not be renewed in the ordinary course.

 

(z)              
No Labor Disputes.  No labor disturbance by or dispute with employees of the Company or any of its subsidiaries
exists or, to the best knowledge of the Company, is contemplated or threatened and the Company is not aware of any existing or
imminent labor disturbance by, or dispute with, the employees of any of its or its subsidiaries’ principal suppliers, contractors
or customers, except as would not result in a Material Adverse Change.

 

(aa)           
Compliance with and Liability under Environmental Laws; Hazardous Materials. Except, in each case set forth in this
Section 2(aa), as described in the Registration Statement and the Prospectus, or as would not, individually or in the aggregate,
result in a Material Adverse Change, (i) the Company and each of its subsidiaries and their respective properties, assets
and operations are in compliance with Environmental Laws (as defined below), (ii) there are no past or present events, conditions,
circumstances, activities, practices, actions, omissions or plans that could reasonably be expected to give rise to any costs or
liabilities to the Company or any of its subsidiaries under, or to interfere with or prevent compliance by the Company or any of
its subsidiaries with, Environmental Laws, (iii) none of the Company or any of its subsidiaries (A) to the knowledge
of the Company, is the subject of any investigation, (B) has received any notice or claim, (C) is a party to any pending or,
to the Company’s knowledge, threatened action, suit or proceeding, (D) is bound by any judgment, decree or order or
(E) has entered into any agreement, in each case relating to any alleged violation of any Environmental Law or any actual
or alleged release or threatened release or cleanup at any location of any Hazardous Materials (as defined below) (as used herein,
 “Environmental Law” means any federal, state, local or foreign law, statute, ordinance, rule, regulation, order,
decree, judgment, injunction, permit, license, authorization or other binding requirement, or common law, relating to human health
or safety or the protection, cleanup or restoration of the environment or natural resources, including those relating to the distribution,
processing, generation, treatment, storage, disposal, transportation, other handling or release or threatened release of Hazardous
Materials, and “Hazardous Materials” means any material (including, without limitation, pollutants, contaminants,
hazardous or toxic substances or wastes) that is regulated by or may give rise to liability under any Environmental Law).

 

    11

     

    

 

(bb)          
Compliance With ERISA.  (i) Each employee benefit plan, within the meaning of Section 3(3) of
the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), for which the Company or any member
of its “Controlled Group” (defined as any organization which is a member of a controlled group of corporations within
the meaning of Section 414 of the Internal Revenue Code of 1986, as amended (the “Code”)) would have any
liability (each, a “Plan”) has been maintained in material compliance with its terms and the requirements of
any applicable statutes, orders, rules and regulations, including but not limited to ERISA and the Code; (ii) no prohibited
transaction, within the meaning of Section 406 of ERISA or Section 4975 of the Code, has occurred with respect to any
Plan excluding transactions effected pursuant to a statutory or administrative exemption; (iii) for each Plan that is subject
to the funding rules of Section 412 of the Code or Section 302 of ERISA, no “accumulated funding deficiency”
as defined in Section 412 of the Code, whether or not waived, has occurred or is reasonably expected to occur; (iv) either
the fair market value of the assets of each Plan, which is required to be funded under the Code or ERISA, exceeds the present value
of all benefits accrued under such Plan (determined based on those assumptions used to fund such Plan) or each such Plan is funded
in accordance with ERISA or the Code; (v) no “reportable event” (within the meaning of Section 4043(c) of
ERISA) has occurred or is reasonably expected to occur; (vi) neither the Company nor any member of the Controlled Group has
incurred, nor reasonably expects to incur, any liability under Title IV of ERISA (other than contributions to the Plan or premiums
to the PBGC, in the ordinary course and without default) in respect of a Plan (including a “multiemployer plan”, within
the meaning of Section 4001(a)(3) of ERISA); and (vii) there is no pending audit or investigation by the Internal
Revenue Service, the U.S. Department of Labor, the Pension Benefit Guaranty Corporation or any other governmental agency or any
foreign regulatory agency with respect to any Plan that could reasonably be expected to result in material liability to the Company
or its subsidiaries.

 

(cc)           
Disclosure Controls.  The Company and its subsidiaries maintain an effective system of “disclosure controls
and procedures” (as defined in Rule 13a-15(e) of the Exchange Act) that complies with the requirements of the Exchange
Act and that has been designed to ensure that information required to be disclosed by the Company in reports that it files or submits
under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the Commission’s
rules and forms, including controls and procedures designed to ensure that such information is accumulated and communicated
to the Company’s management as appropriate to allow timely decisions regarding required disclosure.  The Company and
its subsidiaries have carried out evaluations of the effectiveness of their disclosure controls and procedures as required by Rule 13a-15
of the Exchange Act.

 

(dd)          
Accounting Controls.  The Company and its subsidiaries maintain systems of “internal control over
financial reporting” (as defined in Rule 13a-15(f) of the Exchange Act) that comply with the requirements of the
Exchange Act and have been designed by, or under the supervision of, the Company’s principal executive and principal financial
officers, or persons performing similar functions, to provide reasonable assurance regarding the reliability of financial reporting
and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles,
including, but not limited to internal accounting controls sufficient to provide reasonable assurance that (i) transactions
are executed in accordance with management’s general or specific authorizations; (ii) transactions are recorded as necessary
to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain asset
accountability; (iii) access to assets is permitted only in accordance with management’s general or specific authorization;
and (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate
action is taken with respect to any differences.  Except as disclosed in the Registration Statement and the Prospectus, there
are no material weaknesses in the Company’s internal controls.  The Company’s auditors and the Audit Committee
of the Board of Directors of the Company have been advised of: (i) all significant deficiencies and material weaknesses in
the design or operation of internal controls over financial reporting which are reasonably likely to adversely affect the Company’s
ability to record, process, summarize and report financial information; and (ii) any fraud, whether or not material, that
involves management or other employees who have a significant role in the Company’s internal controls over financial reporting.

 

    12

     

    

 

(ee)           
Insurance.  The Company and its subsidiaries have insurance covering their respective properties, operations,
personnel and businesses, including business interruption insurance, which insurance is in amounts and insures against such losses
and risks as the Company considers to be in accordance with customary industry practice for companies of comparable size, market
capitalization and stage of business and clinical development to protect the Company and its subsidiaries and their respective
businesses; and neither the Company nor any of its subsidiaries has (i) received notice from any insurer or agent of such
insurer that capital improvements or other expenditures are required or necessary to be made in order to continue such insurance
or (ii) any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage
expires or to obtain similar coverage at reasonable cost from similar insurers as may be necessary to continue its business. Neither
the Company nor any of its subsidiaries has been denied any insurance coverage which it has sought or for which it has applied.

 

(ff)             
No Unlawful Payments.  Neither the Company nor any of its subsidiaries nor, to the knowledge of the Company,
any director, officer, employee, agent or other person associated with or acting on behalf of the Company or any of its subsidiaries
has (i) used any corporate funds for any unlawful contribution, gift, entertainment or other unlawful expenses relating to political
activity; (ii) made or taken any act in furtherance of an offer, promise or authorization of any direct or indirect unlawful payment
or benefit to any foreign or domestic government official or employee, including of any government-owned or controlled entity or
of a public international organization, or any person acting in an official capacity for or on behalf of any of the foregoing,
or any political party or party official or candidate for political office; (iii) violated or is in violation of any provision
of the U.S. Foreign Corrupt Practices Act of 1977, as amended (the “FCPA”), the UK Bribery Act 2010, or any
other applicable anti-bribery or anti-corruption law; or (iv) made, offered, authorized, requested or taken an act in furtherance
of any unlawful bribe or other unlawful benefit, including, without limitation, any rebate, payoff, influence payment, kickback
or other unlawful or improper payment or benefit. The Company and its subsidiaries and, to the knowledge of the Company, the Company’s
Affiliates have conducted their respective businesses in compliance with the FCPA and have instituted, maintain and enforce, and
will continue to maintain and enforce, policies and procedures designed to promote and ensure, and which are reasonably expected
to continue to promote and ensure, compliance with all applicable anti-bribery and anti-corruption laws.

 

    13

     

    

 

(gg)          
Compliance with Money Laundering Laws.  The operations of the Company and its subsidiaries are, and have been
conducted at all times, in compliance with applicable financial recordkeeping and reporting requirements, including those of the
Currency and Foreign Transactions Reporting Act of 1970, as amended, the money laundering statutes of all jurisdictions, the rules
and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any
governmental agency (collectively, the “Anti-Money Laundering Laws”), and no action, suit or proceeding by or
before any court or governmental agency, authority or body or any arbitrator involving the Company or any of its subsidiaries with
respect to the Anti-Money Laundering Laws is pending or, to the knowledge of the Company, threatened.

 

(hh)           Compliance
with Sanctions Laws.  Neither the Company nor any of its subsidiaries, nor, to the knowledge of the Company,
after due inquiry, any director, officer, employee, agent, Affiliate or other person associated with or acting on behalf of
the Company or any of its subsidiaries is currently the subject or the target of any U.S. sanctions administered by the
Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State, the United Nations
Security Council, the European Union, Her Majesty’s Treasury of the United Kingdom, or other relevant sanctions
authority (collectively, “Sanctions”); nor is the Company or any of its subsidiaries located, organized or
resident in a country or territory that is the subject or the target of Sanctions, including, without limitation, Crimea,
Cuba, Iran, North Korea and Syria (each, a “Sanctioned Country”); and the Company will not directly or
indirectly use the proceeds of the offering of the Shares, or lend, contribute or otherwise make available such proceeds to
any subsidiary, or any joint venture partner or other person or entity, for the purpose of financing the activities of or
business with any person, or in any country or territory, that, at the time of such financing, is the subject or the target
of Sanctions or in any other manner that will result in a violation by any person (including any person participating in the
transaction, whether as underwriter, initial purchaser, advisor, investor or otherwise) of Sanctions. For the past five
years, the Company and its subsidiaries have not knowingly engaged in and are not now knowingly engaged in any dealings or
transactions with any person that at the time of the dealing or transaction is or was the subject or the target of Sanctions
or with any Sanctioned Country.

 

(ii)             
Affiliations. To the Company’s knowledge, there are no affiliations
or associations between (i) the Agent and (ii) the Company or any of the Company’s officers, directors or 5% or greater
security holders or any beneficial owner of the Company’s unregistered equity securities that were acquired at any time
on or after the 180th day immediately preceding the date the Registration Statement was initially filed with the Commission, except
as disclosed in the Registration Statement and the Prospectus.

 

(jj)             
No Restrictions on Subsidiaries.  Except as disclosed in the Prospectus, no subsidiary of the Company is currently
prohibited, directly or indirectly, under any agreement or other instrument to which it is a party or is subject, from paying
any dividends to the Company, from making any other distribution on such subsidiary’s capital stock, from repaying to the
Company any loans or advances to such subsidiary from the Company or from transferring any of such subsidiary’s properties
or assets to the Company or any other subsidiary of the Company.

 

(kk)          
No Broker’s Fees.  Except as otherwise disclosed in the Prospectus, neither the Company nor any
of its subsidiaries is a party to any contract, agreement or understanding with any person (other than this Agreement) that would
give rise to a valid claim against the Company or any of its subsidiaries or the Agent for a brokerage commission, finder’s
fee or like payment in connection with the offering and sale of the Shares.

 

    14

     

    

 

(ll)             
No Registration Rights.  No person has the right to require the Company or any of its subsidiaries to register
any securities for sale under the Securities Act by reason of the filing of the Registration Statement with the Commission or the
issuance and sale of the Shares.

 

(mm)     
No Stabilization.  The Company has not taken, directly or indirectly, any action designed to or that
could reasonably be expected to cause or result in any stabilization or manipulation of the price of the Common Shares.

 

(nn)          
Business With Cuba.  The Company has complied with all provisions of Section 517.075, Florida Statutes
(Chapter 92-198, Laws of Florida, as amended) relating to doing business with the Government of Cuba or with any person or
affiliate located in Cuba.

 

(oo)          
Margin Rules.  The application of the proceeds received by the Company from the issuance, sale and delivery
of the Shares as described in the Registration Statement and the Prospectus will not violate Regulation T, U or X of the Board
of Governors of the Federal Reserve System or any other regulation of such Board of Governors.

 

(pp)          
Forward-Looking Statements.  No forward-looking statement (within the meaning of Section 27A of
the Securities Act and Section 21E of the Exchange Act) contained in the Registration Statement or the Prospectus has been
made or reaffirmed without a reasonable basis or has been disclosed other than in good faith.

 

(qq)          
Statistical and Market Data.  Nothing has come to the attention of the Company that has caused the Company
to believe that the statistical and market-related data included in the Registration Statement and the Prospectus is not based
on or derived from sources that are reliable and accurate in all material respects. To the extent required, the Company has obtained
the written consent for the use of such data from such sources.

 

(rr)             
Sarbanes-Oxley Act.  There is and has been no failure on the part of the Company or, to the knowledge of the
Company, any of the Company’s directors or officers, in their capacities as such, to comply with any provision of the Sarbanes-Oxley
Act of 2002 and the rules and regulations promulgated in connection therewith (the “Sarbanes-Oxley Act”),
including Section 402 related to loans and Sections 302 and 906 related to certifications.

 

    15

     

    

 

(ss)            
FDA Compliance.  Except as described in the Registration Statement and the Prospectus, the Company:  (A) is
and at all times has been in material compliance with all statutes, rules or regulations of the U.S. Food and Drug Administration
(“FDA”) and other comparable federal, state, local or foreign governmental or regulatory authority (“Governmental
Authority”) applicable to the ownership, testing, development, manufacture, packaging, processing, use, distribution,
marketing, labeling, promotion, sale, offer for sale, storage, import, export or disposal of any product under development, manufactured
or distributed by the Company (“Applicable Laws”); (B) has not received any FDA Form 483, notice of
adverse finding, warning letter, untitled letter or other correspondence or written notice from the FDA or any Governmental Authority
alleging or asserting material noncompliance with any Applicable Laws or any licenses, certificates, approvals, clearances, authorizations,
permits and supplements or amendments thereto required by any such Applicable Laws (“Authorizations”), which
would, individually or in the aggregate, result in a Material Adverse Change; (C) possesses all material Authorizations and
such Authorizations are valid and in full force and effect and the Company is not in material violation of any term of any such
Authorizations; (D) has not received written notice of any claim, action, suit, proceeding, hearing, enforcement, investigation,
arbitration or other action from the FDA or any Governmental Authority or third party alleging that any product operation or activity
is in material violation of any Applicable Laws or Authorizations and has no knowledge that the FDA or any Governmental Authority
or third party is considering any such claim, litigation, arbitration, action, suit, investigation or proceeding; (E) has
not received written notice that the FDA or any Governmental Authority has taken, is taking or intends to take action to limit,
suspend, modify or revoke any material Authorizations and has no knowledge that the FDA or any Governmental Authority is considering
such action; and (F) has filed, obtained, maintained or submitted all material reports, documents, forms, notices, applications,
records, claims, submissions and supplements or amendments as required by any Applicable Laws or Authorizations and that all such
reports, documents, forms, notices, applications, records, claims, submissions and supplements or amendments were materially complete
and correct on the date filed (or were corrected or supplemented by a subsequent submission).

 

(tt)             
Clinical Studies. The nonclinical studies and clinical trials conducted by or, to the Company’s knowledge,
on behalf of the Company were and, if still ongoing, are being conducted in all material respects in accordance with experimental
protocols, procedures and controls pursuant to accepted professional scientific standards and all Applicable Laws and Authorizations,
including, without limitation, the Federal Food, Drug and Cosmetic Act and the rules and regulations promulgated thereunder;
the descriptions of the results of such nonclinical studies and clinical trials contained in the Registration Statement and the
Prospectus are, to the Company’s knowledge, accurate and complete in all material respects and fairly present the data derived
from such nonclinical studies and clinical trials; except to the extent disclosed in the Registration Statement and the Prospectus,
the Company is not aware of any nonclinical studies or clinical trials, the results of which the Company believes reasonably call
into question the study or trial results described or referred to in the Registration Statement and the Prospectus when viewed
in the context in which such results are described and the clinical stage of development; and, except to the extent disclosed in
the Registration Statement or the Prospectus, the Company has not received any written notices or other correspondence from the
FDA or any Governmental Authority requiring the termination, suspension or material modification of any nonclinical studies, clinical
trials conducted by or on behalf of the Company.

 

(uu)          
Compliance with Health Care Laws. The Company is not a party to or has any ongoing reporting obligations pursuant
to any corporate integrity agreements, deferred prosecution agreements, monitoring agreements, consent decrees, settlement orders,
plans of correction or similar agreements with or imposed by any Governmental Authority. Additionally, neither the Company nor
any of its employees, officers or directors has been excluded, suspended or debarred from participation in any government health
care program or human clinical research or, to the knowledge of the Company, is subject to a governmental inquiry, investigation,
proceeding, or other similar action that could reasonably be expected to result in debarment, suspension, or exclusion.

 

    16

     

    

 

(vv)          
eXtensible Business Reporting Language. The interactive data in eXtensible Business Reporting Language included or
incorporated by reference in the Prospectus fairly presents the information called for in all material respects and has been prepared
in accordance with the Commission’s rules and guidelines applicable thereto.

 

(ww)      
Cybersecurity. The Company and its subsidiaries’ information technology assets and equipment, computers, systems,
networks, hardware, software, websites, applications, and databases (collectively, “IT Systems”) are adequate
for, and operate and perform in all material respects as required in connection with the operation of the business of the Company
and its subsidiaries as currently conducted, and to the Company’s knowledge, free and clear of all material bugs, errors,
defects, Trojan horses, time bombs, malware and other corruptants. The Company and its subsidiaries have implemented and maintained
commercially reasonable physical, technical and administrative controls, policies, procedures, and safeguards to maintain and protect
their material confidential information and the integrity, continuous operation, redundancy and security of all IT Systems and
data, including “Personal Data,” used in connection with their businesses. “Personal Data” means
(i) a natural person’s name, street address, telephone number, e-mail address, photograph, social security number or tax
identification number, driver’s license number, passport number, credit card number, bank information, or customer or account
number; (ii) any information which would qualify as “personally identifying information” under the Federal Trade Commission
Act, as amended; (iii) “personal data” as defined by GDPR (as defined below); (iv) any information which would qualify
as “protected health information” under the Health Insurance Portability and Accountability Act of 1996, as amended
by the Health Information Technology for Economic and Clinical Health Act (collectively, “HIPAA”); and (v) any
other piece of information that allows the identification of such natural person, or his or her family, or permits the collection
or analysis of any data related to an identified person’s health or sexual orientation. There have been no breaches, violations,
outages or unauthorized uses of or accesses to same, except for those that have been remedied without material cost or liability
or the duty to notify any other person, nor any incidents under internal review or investigations relating to the same. The Company
and its subsidiaries are presently in material compliance with all applicable laws or statutes and all judgments, orders, rules
and regulations of any court or arbitrator or governmental or regulatory authority, internal policies and contractual obligations
relating to the privacy and security of IT Systems and Personal Data and to the protection of such IT Systems and Personal Data
from unauthorized use, access, misappropriation or modification.

 

(xx)          
Compliance with Data Privacy Laws. The Company and its subsidiaries are, and at all prior times within the last five
years were, in material compliance with all applicable state and federal data privacy and security laws and regulations, including
without limitation HIPAA, and the Company and its subsidiaries have taken commercially reasonable actions to prepare to comply
with, and since May 25, 2018, have been and currently are in material compliance with, the European Union General Data Protection
Regulation (“GDPR”) (EU 2016/679) (collectively, the “Privacy Laws”). To ensure compliance
with the Privacy Laws, the Company and its subsidiaries have in place, comply with, and take appropriate steps reasonably designed
to ensure compliance in all material respects with their policies and procedures relating to data privacy and security and the
collection, storage, use, disclosure, handling, and analysis of Personal Data (the “Policies”). The Company
and its subsidiaries have at all times made all disclosures to users or customers required by applicable laws and regulatory rules
or requirements, and none of such disclosures made or contained in any Policy have, to the knowledge of the Company, been inaccurate
or in violation of any applicable laws and regulatory rules or requirements in any material respect. The Company further certifies
that neither it nor any subsidiary: (i) has received notice of any actual or potential liability under or relating to, or actual
or potential violation of, any of the Privacy Laws, and has no knowledge of any event or condition that would reasonably be expected
to result in any such notice; (ii) is currently conducting or paying for, in whole or in part, any investigation, remediation,
or other corrective action pursuant to any Privacy Law; or (iii) is a party to any order, decree, or agreement that imposes any
obligation or liability under any Privacy Law.

 

    17

     

    

 

(yy)          
Stock Exchange Listing. The Common Shares are registered pursuant to Section 12(b) or 12(g) of the Exchange Act and
are listed on the Principal Market, and the Company has taken no action designed to, or likely to have the effect of, terminating
the registration of the Common Shares under the Exchange Act or delisting the Common Shares from the Principal Market, nor has
the Company received any notification that the Commission or the Principal Market is contemplating terminating such registration
or listing. To the Company’s knowledge, it is in compliance with all applicable listing requirements of the Principal Market.

 

(zz)           
FINRA Matters. All of the information provided to the Agent or to counsel for the Agent by the Company, its counsel,
its officers and directors and, to the knowledge of the Company, the holders of any securities (debt or equity) or options to acquire
any securities of the Company in connection with the offering of the Shares is true, complete, correct and compliant with FINRA’s
rules and any letters, filings or other supplemental information provided to FINRA pursuant to FINRA Rules is true, complete
and correct. The Company meets the requirements for use of Form S-3 under the Securities Act specified in FINRA Rule 5110(b)(7)(C)(i).

 

(aaa)       
Compliance with Laws. The Company and its subsidiaries have been and are in compliance with all applicable laws,
rules and regulations, except where failure to be so in compliance would not, individually or in the aggregate, result in a Material
Adverse Change.

 

(bbb)      
Duties, Transfer Taxes, Etc. No stamp or other issuance or transfer taxes or duties and no capital gains, income,
withholding or other taxes are payable by the Agent in the United States or any political subdivision or taxing authority thereof
or therein in connection with the execution, delivery or performance of this Agreement by the Company or the sale and delivery
by the Company of the Shares.

 

(ccc)       
Other Underwriting Agreements. The Company is not a party to any agreement with an agent or underwriter for any other
 “at the market” or continuous equity transaction.

 

Any certificate signed
by any officer or representative of the Company or any of its subsidiaries and delivered to the Agent or counsel for the Agent
in connection with an issuance of Shares shall be deemed a representation and warranty by the Company to the Agent as to the matters
covered thereby on the date of such certificate.

 

The
Company acknowledges that the Agent and, for purposes of the opinions to be delivered pursuant to ‎Section 4(o)
hereof, counsel to the Company and counsel to the Agent, will rely upon the accuracy and truthfulness of the foregoing representations,
including any officer’s certificate representations, and hereby consents to such reliance.

 

    18

     

    

 

Section
3. ISSUANCE AND SALE OF COMMON SHARES

 

(a)              
Sale of Securities. On the basis of the representations, warranties and agreements herein contained, but subject
to the terms and conditions herein set forth, the Company and the Agent agree that the Company may from time to time seek to sell
Shares through the Agent, acting as sales agent, or directly to the Agent, acting as principal, as follows, with an aggregate Sales
Price of up to the Maximum Program Amount, based on and in accordance with Issuance Notices as the Company may deliver, during
the Agency Period.

 

(b)              
Mechanics of Issuances.

 

(i)
Issuance Notice. Upon the terms and subject to the conditions set forth herein, on any Trading Day during the Agency Period
on which the conditions set forth in ‎Section 5(a) and ‎Section 5(b) shall have been satisfied, the
Company may exercise its right to request an issuance of Shares by delivering to the Agent an Issuance Notice; provided, however,
that (A) in no event may the Company deliver an Issuance Notice to the extent that (I) the sum of (x) the aggregate Sales Price
of the requested Issuance Amount, plus (y) the aggregate Sales Price of all Shares issued under all previous Issuance Notices effected
pursuant to this Agreement, would exceed the Maximum Program Amount; and (B) prior to delivery of any Issuance Notice, the period
set forth for any previous Issuance Notice shall have expired or been terminated. An Issuance Notice shall be considered delivered
on the Trading Day that it is received by e-mail to the persons set forth in Schedule A hereto and confirmed by the Company by
telephone (including a voicemail message to the persons so identified), with the understanding that, with adequate prior written
notice, the Agent may modify the list of such persons from time to time.

 

(ii)       Agent
Efforts. Upon the terms and subject to the conditions set forth in this Agreement, upon the receipt of an Issuance Notice,
the Agent will use its commercially reasonable efforts consistent with its normal sales and trading practices to place the Shares
with respect to which the Agent has agreed to act as sales agent, subject to, and in accordance with the information specified
in, the Issuance Notice, unless the sale of the Shares described therein has been suspended, cancelled or otherwise terminated
in accordance with the terms of this Agreement. For the avoidance of doubt, the parties to this Agreement may modify an Issuance
Notice at any time provided they both agree in writing to any such modification.

 

(iii)       Method
of Offer and Sale. The Shares may be offered and sold (A) in privately negotiated transactions with the consent of the Company;
(B) as block transactions; or (C) by any other method permitted by law deemed to be an “at the market offering” as
defined in Rule 415(a)(4) under the Securities Act, including sales made directly on the Principal Market or sales made into any
other existing trading market of the Common Shares. Nothing in this Agreement shall be deemed to require either party to agree
to the method of offer and sale specified in the preceding sentence, and (except as specified in clauses (A) and (B) above) the
method of placement of any Shares by the Agent shall be at the Agent’s discretion.

 

(iv)       Confirmation
to the Company. If acting as sales agent hereunder, the Agent will provide written confirmation to the Company no later than
the opening of the Trading Day following the Trading Day on which it has placed Shares hereunder setting forth the number of shares
sold on such Trading Day, the corresponding Sales Price and the Issuance Price payable to the Company in respect thereof.

 

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(v)       Settlement.
Each issuance of Shares will be settled on the applicable Settlement Date for such issuance of Shares and, subject to the provisions
of ‎Section 5, on or before each Settlement Date, the Company will, or will cause its transfer agent to, electronically
transfer the Shares being sold by crediting the Agent’s or its designee’s account at The Depository Trust Company through
its Deposit/Withdrawal At Custodian (DWAC) System, or by such other means of delivery as may be mutually agreed upon by the parties
hereto and, upon receipt of such Shares, which in all cases shall be freely tradable, transferable, registered shares in good deliverable
form, the Agent will deliver, by wire transfer of immediately available funds, the related Issuance Price in same day funds delivered
to an account designated by the Company prior to the Settlement Date. The Company may sell Shares to the Agent as principal at
a price agreed upon at each relevant time Shares are sold pursuant to this Agreement (each, a “Time of Sale”).

 

(vi)       Suspension
or Termination of Sales. Consistent with standard market settlement practices, the Company or the Agent may, upon notice to
the other party hereto in writing or by telephone (confirmed immediately by verifiable email), suspend any sale of Shares, and
the period set forth in an Issuance Notice shall immediately terminate; provided, however, that (A) such suspension and
termination shall not affect or impair either party’s obligations with respect to any Shares placed or sold hereunder prior
to the receipt of such notice; (B) if the Company suspends or terminates any sale of Shares after the Agent confirms such sale
to the Company, the Company shall still be obligated to comply with ‎Section 3(b)(v) with respect to such Shares;
and (C) if the Company defaults in its obligation to deliver Shares on a Settlement Date, the Company agrees that it will hold
the Agent harmless against any loss, claim, damage or expense (including, without limitation, penalties, interest and reasonable
legal fees and expenses), as incurred, arising out of or in connection with such default by the Company. The parties hereto acknowledge
and agree that, in performing its obligations under this Agreement, the Agent may borrow Common Shares from stock lenders in the
event that the Company has not delivered Shares to settle sales as required by subsection (v) above, and may use the Shares to
settle or close out such borrowings. The Company agrees that no such notice shall be effective against the Agent unless it is made
to the persons identified in writing by the Agent pursuant to ‎Section 3(b)(i).

 

(vii)       No
Guarantee of Placement, Etc. The Company acknowledges and agrees that (A) there can be no assurance that the Agent will be
successful in placing Shares; (B) the Agent will incur no liability or obligation to the Company or any other Person if it does
not sell Shares; and (C) the Agent shall be under no obligation to purchase Shares on a principal basis pursuant to this Agreement,
except as otherwise specifically agreed by the Agent and the Company.

 

(viii)       Material
Non-Public Information. Notwithstanding any other provision of this Agreement, the Company and the Agent agree that the Company
shall not deliver any Issuance Notice to the Agent, and the Agent shall not be obligated to place any Shares, during any period
in which the Company is in possession of material non-public information.

 

(c)              
Fees. As compensation for services rendered, the Company shall pay to the Agent, on the applicable Settlement Date,
the Selling Commission for the applicable Issuance Amount (including with respect to any suspended or terminated sale pursuant
to Section 3(b)(vi)) by the Agent deducting the Selling Commission from the applicable Issuance Amount.

 

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(d)              
Expenses. The Company agrees to pay all costs, fees and expenses incurred in connection with the performance of its
obligations hereunder and in connection with the transactions contemplated hereby, including without limitation (i) all expenses
incident to the issuance and delivery of the Shares (including all printing and engraving costs); (ii) all fees and expenses
of the registrar and transfer agent of the Shares; (iii) all necessary issue, transfer and other stamp taxes in connection
with the issuance and sale of the Shares; (iv) all fees and expenses of the Company’s counsel, independent public or
certified public accountants and other advisors; (v) all costs and expenses incurred in connection with the preparation, printing,
filing, shipping and distribution of the Registration Statement (including financial statements, exhibits, schedules, consents
and certificates of experts), the Prospectus, any Free Writing Prospectus prepared by or on behalf of, used by, or referred to
by the Company, and all amendments and supplements thereto, and this Agreement; (vi) all filing fees, attorneys’ fees
and expenses incurred by the Company or the Agent in connection with qualifying or registering (or obtaining exemptions from the
qualification or registration of) all or any part of the Shares for offer and sale under the state securities or blue sky laws
or the provincial securities laws of Canada, and, if requested by the Agent, preparing and printing a “Blue Sky Survey”
or memorandum and a “Canadian wrapper,” and any supplements thereto, advising the Agent of such qualifications, registrations,
determinations and exemptions; (vii) the reasonable and documented fees and disbursements of the Agent’s counsel, including the
reasonable and documented fees and expenses of counsel for the Agent in connection with, FINRA review, if any, and approval of
the Agent’s participation in the offering and distribution of the Shares; (viii) the filing fees incident to FINRA review,
if any; (ix) all fees, expenses and disbursements relating to background checks of the Company’s directors, director nominees
and executive officers; (x) the costs and expenses of the Company relating to investor presentations on any “road show”
undertaken in connection with the marketing of the offering of the Shares, including, without limitation, expenses associated with
the preparation or dissemination of any electronic road show, expenses associated with the production of road show slides and graphics,
fees and expenses of any consultants engaged in connection with the road show presentations with the prior approval of the Company,
travel and lodging expenses of the representatives, employees and officers of the Company and of the Agent and any such consultants,
and the cost of any aircraft chartered in connection with the road show; and (xi) the fees and expenses associated with listing
the Shares on the Principal Market. The fees and disbursements of the Agent’s counsel pursuant to subsections (vi) and (vii)
above shall not exceed (A) $50,000 in connection with the entry into this agreement and (B) $15,000 in connection with each Triggering
Event Date (as defined below) on which the Company is required to provide a certificate pursuant to Section 4(o).

 

Section
4. ADDITIONAL COVENANTS

 

The Company covenants
and agrees with the Agent as follows, in addition to any other covenants and agreements made elsewhere in this Agreement:

 

(a)              
Exchange Act Compliance. During the Agency Period, the Company shall (i) file, on a timely basis, with the Commission
all reports and documents required to be filed under Section 13, 14 or 15 of the Exchange Act (taking into account any extension
available under the Exchange Act) in the manner and within the time periods required by the Exchange Act; and (ii) either (A) include
in its quarterly reports on Form 10-Q and its annual reports on Form 10-K, a summary detailing, for the relevant reporting period,
(1) the number of Shares sold through the Agent pursuant to this Agreement and (2) the net proceeds received by the Company from
such sales or, in the Company’s sole discretion, (B) prepare a prospectus supplement containing, or include in such other
filing permitted by the Securities Act or Exchange Act (each an “Interim Prospectus Supplement”), such summary
information and, at least once a quarter and subject to this Section 4, file such Interim Prospectus Supplement pursuant
to Rule 424(b) under the Securities Act (and within the time periods required by Rule 424(b) and Rule 430B under the Securities
Act); provided, however, that prior notice is given to the Agent of any such filing of an Interim Prospectus Supplement.

 

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(b)              
Securities Act Compliance. After the date of this Agreement, the Company shall promptly advise the Agent in writing,
in each case insofar as it relates to the Shares or the transactions contemplated by this Agreement, (i) of the receipt of any
comments of, or requests for additional or supplemental information from, the Commission; (ii) of the time and date of any filing
of any post-effective amendment to the Registration Statement, any Rule 462(b) Registration Statement or any amendment or supplement
to the Prospectus, or any Free Writing Prospectus; (iii) of the time and date that any post-effective amendment to the Registration
Statement or any Rule 462(b) Registration Statement becomes effective; and (iv) of the issuance by the Commission of any stop order
suspending the effectiveness of the Registration Statement or any post-effective amendment thereto, any Rule 462(b) Registration
Statement or any amendment or supplement to the Prospectus or of any order preventing or suspending the use of any Free Writing
Prospectus or the Prospectus, or of any proceedings to remove, suspend or terminate from listing or quotation the Common Shares
from any securities exchange upon which they are listed for trading or included or designated for quotation, or of the threatening
or initiation of any proceedings for any of such purposes. If the Commission shall enter any such stop order at any time, the Company
will use its reasonable best efforts to obtain the lifting of such order as soon as practicable. Additionally, the Company agrees
that it shall comply with the provisions of Rule 424(b) and Rule 433, as applicable, under the Securities Act and will use its
reasonable efforts to confirm that any filings made by the Company under such Rule 424(b) or Rule 433 were filed in a timely manner
with the Commission.

 

(c)              
Amendments and Supplements to the Prospectus and Other Securities Act Matters. If any event shall occur or condition
exist as a result of which it is necessary to amend or supplement the Prospectus so that the Prospectus does not include an untrue
statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of
the circumstances when the Prospectus is delivered to a purchaser, not misleading, or if in the opinion of the Agent or counsel
for the Agent it is otherwise necessary to amend or supplement the Prospectus to comply with applicable law, including the Securities
Act, the Company agrees (subject to Sections 4(d) and 4(f)) to promptly prepare, file with the Commission and
furnish at its own expense to the Agent, such amendments or supplements to the Prospectus so that the statements in the Prospectus
as so amended or supplemented will not include an untrue statement of a material fact or omit to state a material fact necessary
in order to make the statements therein, in the light of the circumstances when the Prospectus is delivered to a purchaser, not
be misleading or so that the Prospectus, as amended or supplemented, will comply with applicable law including the Securities Act.
Neither the Agent’s consent to, or delivery of, any such amendment or supplement shall constitute a waiver of any of the
Company’s obligations under Sections 4(d) and 4(f). Notwithstanding the foregoing, the Company shall not be
required to file such amendment or supplement if there is no pending Issuance Notice and the Company believes that it is in its
best interests not to file such amendment or supplement.

 

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(d)               
Agent’s Review of Proposed Amendments and Supplements. Prior to amending or supplementing the Registration
Statement (including any registration statement filed under Rule 462(b) under the Securities Act) or the Prospectus (excluding
any amendment or supplement through incorporation of any report filed under the Exchange Act), the Company shall furnish to the
Agent for review, a reasonable amount of time prior to the proposed time of filing or use thereof, a copy of each such proposed
amendment or supplement, and the Company shall not file or use any such proposed amendment or supplement without the Agent’s
prior consent, which consent shall not be unreasonably withheld, conditioned or delayed, and to file with the Commission within
the applicable period specified in Rule 424(b) under the Securities Act any prospectus required to be filed pursuant to such Rule;
provided, however, that the Company has no obligation to provide the Agent any advance copy of such filing if the filing does not
name the Agent and does not relate to the Shares or the transactions contemplated by this Agreement.

 

(e)              
Use of Free Writing Prospectus. Neither the Company nor the Agent has prepared, used, referred to or distributed,
or will prepare, use, refer to or distribute, without the other party’s prior written consent, any “written communication”
that constitutes a “free writing prospectus” as such terms are defined
in Rule 405 under the Securities Act with
respect to the offering contemplated by this Agreement (any such free writing prospectus being referred to herein as a
 “Free Writing Prospectus”).

 

(f)               
Free Writing Prospectuses. The Company shall furnish to the Agent for review, a reasonable amount of time prior to
the proposed time of filing or use thereof, a copy of each proposed free writing prospectus or any amendment or supplement thereto
to be prepared by or on behalf of, used by, or referred to by the Company and the Company shall not file, use or refer to any proposed
free writing prospectus or any amendment or supplement thereto without the Agent’s consent, which consent shall not be unreasonably
withheld, conditioned or delayed. The Company shall furnish to the Agent, without charge, as many copies of any free writing prospectus
prepared by or on behalf of, or used by the Company, as the Agent may reasonably request. If at any time when a prospectus is required
by the Securities Act (including, without limitation, pursuant to Rule 173(d)) to be delivered in connection with sales of
the Shares (but in any event if at any time through and including the date of this Agreement) there occurred or occurs an event
or development as a result of which any free writing prospectus prepared by or on behalf of, used by, or referred to by the Company
conflicted or would conflict with the information contained in the Registration Statement or included or would include an untrue
statement of a material fact or omitted or would omit to state a material fact necessary in order to make the statements therein,
in the light of the circumstances prevailing at that subsequent time, not misleading, the Company shall promptly amend or supplement
such free writing prospectus to eliminate or correct such conflict or so that the statements in such free writing prospectus as
so amended or supplemented will not include an untrue statement of a material fact or omit to state a material fact necessary in
order to make the statements therein, in the light of the circumstances prevailing at such subsequent time, not misleading, as
the case may be; provided, however, that prior to amending or supplementing any such free writing prospectus, the Company
shall furnish to the Agent for review, a reasonable amount of time prior to the proposed time of filing or use thereof, a copy
of such proposed amended or supplemented free writing prospectus and the Company shall not file, use or refer to any such amended
or supplemented free writing prospectus without the Agent’s consent, which consent shall not be unreasonably withheld, conditioned
or delayed. Notwithstanding the foregoing, the Company has no obligation to provide the Agent any advance copy of such filing if
the filing does not name the Agent and does not relate to the Shares or the transactions contemplated by this Agreement.

 

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(g)              
Filing of Agent Free Writing Prospectuses. The Company shall not take any action that would result in the Agent or
the Company being required to file with the Commission pursuant to Rule 433(d) under the Securities Act a free writing prospectus
prepared by or on behalf of the Agent that the Agent otherwise would not have been required to file thereunder.

 

(h)              
Copies of Registration Statement and Prospectus. After the date of this Agreement through the last time that a prospectus
is required by the Securities Act (including, without limitation, pursuant to Rule 173(d)) to be delivered in connection with
sales of the Shares, the Company agrees to furnish the Agent with copies (which may be electronic copies) of the Registration Statement
and each amendment thereto, and with copies (which may be electronic copies) of the Prospectus and each amendment or supplement
thereto in the form in which it is filed with the Commission pursuant to the Securities Act or Rule 424(b) under the Securities
Act, both in such quantities as the Agent may reasonably request from time to time; and, if the delivery of a prospectus is required
under the Securities Act or under the blue sky or securities laws of any jurisdiction at any time on or prior to the applicable
Settlement Date for any period set forth in an Issuance Notice in connection with the offering or sale of the Shares and if at
such time any event has occurred as a result of which the Prospectus as then amended or supplemented would include an untrue statement
of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances
under which they were made when such Prospectus is delivered, not misleading, or, if for any other reason it is necessary during
such same period to amend or supplement the Prospectus or to file under the Exchange Act any document incorporated by reference
in the Prospectus in order to comply with the Securities Act or the Exchange Act, to notify the Agent and to request that the Agent
suspend offers to sell Shares (and, if so notified, the Agent shall cease such offers as soon as practicable); and if the Company
decides to amend or supplement the Registration Statement or the Prospectus as then amended or supplemented, to advise the Agent
promptly by telephone (with confirmation in writing) and to prepare and cause to be filed promptly with the Commission an amendment
or supplement to the Registration Statement or the Prospectus as then amended or supplemented that will correct such statement
or omission or effect such compliance; provided, however, that if during such same period the Agent is required to deliver a prospectus
in respect of transactions in the Shares, the Company shall promptly prepare and file with the Commission such an amendment or
supplement.

 

(i)                
Blue Sky Compliance. The Company shall cooperate with the Agent and counsel for the Agent to qualify or register
the Shares for sale under (or obtain exemptions from the application of) the state securities or blue sky laws or Canadian provincial
securities laws of those jurisdictions designated by the Agent, shall comply with such laws and shall continue such qualifications,
registrations and exemptions in effect so long as required for the distribution of the Shares. The Company shall not be required
to qualify as a foreign corporation or to take any action that would subject it to general service of process in any such jurisdiction
where it is not presently qualified or where it would be subject to taxation as a foreign corporation. The Company will advise
the Agent promptly of the suspension of the qualification or registration of (or any such exemption relating to) the Shares for
offering, sale or trading in any jurisdiction or any initiation or threat of any proceeding for any such purpose, and in the event
of the issuance of any order suspending such qualification, registration or exemption, the Company shall use its reasonable best
efforts to obtain the withdrawal thereof as soon as practicable.

 

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(j)                
Earnings Statement. As soon as practicable, the Company will make generally available to its security holders and
to the Agent an earnings statement (which need not be audited) covering a period of at least twelve months beginning with the first
fiscal quarter of the Company occurring after the date of this Agreement which shall satisfy the provisions of Section 11(a) of
the Securities Act and Rule 158 under the Securities Act.

 

(k)              
Listing; Reservation of Shares. (a) The Company will use its reasonable best efforts to maintain the listing of the
Shares on the Principal Market; and (b) the Company will reserve and keep available at all times, free of preemptive rights, Shares
for the purpose of enabling the Company to satisfy its obligations under this Agreement.

 

(l)                
Transfer Agent. The Company shall engage and maintain, at its expense, a registrar and transfer agent for the Shares.

 

(m)            
Due Diligence. During the term of this Agreement, the Company will reasonably cooperate with any reasonable due diligence
review conducted by the Agent in connection with the transactions contemplated hereby, including, without limitation, providing
information and making available documents and senior corporate officers, during normal business hours and at the Company’s
principal offices, as the Agent may reasonably request from time to time.

 

(n)              
Representations and Warranties. The Company acknowledges that each delivery of an Issuance Notice and each delivery
of Shares on a Settlement Date shall be deemed to be (i) an affirmation to the Agent that the representations and warranties of
the Company contained in or made pursuant to this Agreement are true and correct as of the date of such Issuance Notice or of such
Settlement Date, as the case may be, as though made at and as of each such date, except as may be disclosed in the Prospectus (including
any documents incorporated by reference therein and any supplements thereto); and (ii) an undertaking that the Company will
advise the Agent if any of such representations and warranties will not be true and correct as of the Settlement Date for the Shares
relating to such Issuance Notice, as though made at and as of each such date (except that such representations and warranties shall
be deemed to relate to the Registration Statement and the Prospectus as amended and supplemented relating to such Shares).

 

(o)              
Deliverables at Triggering Event Dates; Certificates. The Company agrees that on or prior to the date of the first
Issuance Notice and, during the term of this Agreement after the date of the first Issuance Notice, upon:

 

(A)       the
filing of the Prospectus or the amendment or supplement of any Registration Statement or Prospectus (other than a prospectus supplement
relating solely to an offering of securities other than the Shares or a prospectus filed pursuant to Section 4(a)(ii)(B)),
by means of a post-effective amendment, sticker or supplement, but not by means of incorporation of documents by reference into
the Registration Statement or Prospectus;

 

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(B)       the
filing with the Commission of an annual report on Form 10-K or a quarterly report on Form 10-Q (including any Form 10-K/A or Form
10-Q/A containing amended financial information or a material amendment to the previously filed annual report on Form 10-K or quarterly
report on Form 10-Q), in each case, of the Company; or

 

(C)       the
filing with the Commission of a current report on Form 8-K of the Company containing amended financial information (other than
information “furnished” pursuant to Item 2.02 or 7.01 of Form 8-K or to provide disclosure pursuant to Item 8.01 of
Form 8-K relating to reclassification of certain properties as discontinued operations in accordance with Statement of Financial
Accounting Standards No. 144) that is material to the offering of securities of the Company in the Agent’s reasonable discretion;

 

(any
such event, a “Triggering Event Date”), the Company shall furnish the Agent (but in the case of clause (C) above
only if the Agent reasonably determines that the information contained in such current report on Form 8-K of the Company is material)
with a certificate as of the Triggering Event Date, in the form and substance satisfactory to the Agent and its counsel, substantially
similar to the form previously provided to the Agent and its counsel, modified, as necessary, to relate to the Registration Statement
and the Prospectus as amended or supplemented, (A) confirming that the representations and warranties of the Company contained
in this Agreement are true and correct, (B) confirming that the Company has performed all of its obligations hereunder to be performed
on or prior to the date of such certificate and as to the matters set forth in ‎Section 5(a)(iii) hereof, and
(C) containing any other certification that the Agent shall reasonably request. The requirement to provide a certificate under
this Section 4(o) shall be waived for any Triggering Event Date occurring at a time when no Issuance Notice is pending or
a suspension is in effect, which waiver shall continue until the earlier to occur of the date the Company delivers instructions
for the sale of Shares hereunder (which for such calendar quarter shall be considered a Triggering Event Date) and the next occurring
Triggering Event Date. Notwithstanding the foregoing, if the Company subsequently decides to sell Shares following a Triggering
Event Date when a suspension was in effect and did not provide the Agent with a certificate under this Section 4(o), then
before the Company delivers the instructions for the sale of Shares or the Agent sells any Shares pursuant to such instructions,
the Company shall provide the Agent with a certificate in conformity with this Section 4(o) dated as of the date that the
instructions for the sale of Shares are issued.

 

(p)              
Legal Opinions. On or prior to the date of the first Issuance Notice and on or prior to each Triggering Event Date
with respect to which the Company is obligated to deliver a certificate pursuant to Section 4(o) for which no waiver is
applicable and excluding the date of this Agreement, a negative assurances letter and the written legal opinion of Mintz, Levin,
Cohn, Ferris, Glovsky and Popeo, P.C., counsel to the Company, a negative assurances letter of Latham & Watkins LLP, counsel
to the Agent, and the written legal opinion of each of Sterne, Kessler, Goldstein & Fox P.L.L.C. and McCarter & English,
LLP, intellectual property counsel to the Company, each dated the date of delivery, shall be furnished to the Agent, each in form
and substance reasonably satisfactory to the Agent and its counsel, substantially similar to the form previously provided to the
Agent and its counsel, modified, as necessary, to relate to the Registration Statement and the Prospectus as then amended or supplemented;
provided, however, that the Company shall be required to furnish no more than one of each such opinion and negative assurance letter
of Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. hereunder in connection with the filing of each of its annual reports on
Form 10-K or Form 10-K/A and quarterly reports on Form 10-Q or Form 10-Q/A. In lieu of such opinions for subsequent periodic filings,
in the discretion of the Agent, the Company may furnish a reliance letter from such counsel to the Agent, permitting the Agent
to rely on a previously delivered opinion letter, modified as appropriate for any passage of time or Triggering Event Date (except
that statements in such prior opinion shall be deemed to relate to the Registration Statement and the Prospectus as amended or
supplemented as of such Triggering Event Date).

 

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(q)              
Comfort Letter. On or prior to the date of the first Issuance Notice and on or prior to each Triggering Event Date
with respect to which the Company is obligated to deliver a certificate pursuant to Section 4(o) for which no waiver is
applicable and excluding the date of this Agreement, the Company shall cause Ernst & Young LLP, the independent registered
public accounting firm who has audited the financial statements included or incorporated by reference in the Registration Statement,
to furnish the Agent a comfort letter, dated the date of delivery, in form and substance reasonably satisfactory to the Agent and
its counsel, substantially similar to the form previously provided to the Agent and its counsel; provided, however, that any such
comfort letter will only be required on the Triggering Event Date specified to the extent that it contains financial statements
filed with the Commission under the Exchange Act and incorporated or deemed to be incorporated by reference into a Prospectus.
If requested by the Agent, the Company shall also cause a comfort letter to be furnished to the Agent within ten (10) Trading Days
of the date of occurrence of any material transaction or event requiring the filing of a current report on Form 8-K containing
material amended financial information of the Company, including the restatement of the Company’s financial statements. The
Company shall be required to furnish no more than one comfort letter hereunder per annual report on Form 10-K or Form 10-K/A and
quarterly report on Form 10-Q or Form 10-Q/A filed by the Company.

 

(r) Secretary’s
Certificate. On or prior to the date of the first Issuance Notice and on or prior to each Triggering Event Date with respect
to which the Company is obligated to deliver a certificate pursuant to Section 4(o) for which no waiver is applicable and
excluding the date of this Agreement, the Company shall furnish the Agent a certificate executed by the Secretary of the Company,
signing in such capacity, dated the date of delivery (i) certifying that attached thereto are true and complete copies of the
resolutions duly adopted by the Board of Directors of the Company authorizing the execution and delivery of this Agreement and
the consummation of the transactions contemplated hereby (including, without limitation, the issuance of the Shares pursuant to
this Agreement), which authorization shall be in full force and effect on and as of the date of such certificate, (ii) certifying
and attesting to the office, incumbency, due authority and specimen signatures of each Person who executed this
Agreement for or on behalf of the Company, and (iii) containing any other certification that the Agent shall reasonably
request.

 

(s)               
Agent’s Own Account; Clients’ Account. The Company consents to the Agent trading, in compliance with
applicable law, in the Common Shares for the Agent’s own account and for the account of its clients at the same time as sales
of the Shares occur pursuant to this Agreement.

 

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(t)                
Investment Limitation. The Company shall not invest, or otherwise use the proceeds received by the Company from its
sale of the Shares in such a manner as would require the Company or any of its subsidiaries to register as an investment company
under the Investment Company Act.

 

(u)              
Market Activities. The Company will not take, directly or indirectly, any action designed to or that might be reasonably
expected to cause or result in stabilization or manipulation of the price of the Shares or any other reference security, whether
to facilitate the sale or resale of the Shares or otherwise, and the Company will, and shall cause each of its Affiliates to, comply
with all applicable provisions of Regulation M. If the limitations of Rule 102 of Regulation M (“Rule 102”)
do not apply with respect to the Shares or any other reference security pursuant to any exception set forth in Section (d) of Rule
102, then promptly upon notice from the Agent (or, if later, at the time stated in the notice), the Company will, and shall cause
each of its Affiliates to, comply with Rule 102 as though such exception were not available but the other provisions of Rule 102
(as interpreted by the Commission) did apply. The Company shall promptly notify the Agent if it no longer meets the requirements
set forth in Section (d) of Rule 102.

 

(v)              
Notice of Other Sale. Without the written consent of the Agent, the Company will not, directly or indirectly, (i)
offer to sell, sell, contract to sell, grant any option to sell or otherwise dispose of any Common Shares or securities convertible
into or exchangeable for Common Shares (other than Shares hereunder), warrants or any rights to purchase or acquire Common Shares,
during the period beginning on the third Trading Day immediately prior to the date on which any Issuance Notice is delivered to
the Agent hereunder and ending on the third Trading Day immediately following the Settlement Date with respect to Shares sold pursuant
to such Issuance Notice; (ii) effect a reverse stock split, recapitalization, share consolidation, reclassification or similar
transaction affecting the outstanding Common Shares; or (iii) enter into any other “at the market” or continuous equity
transaction offer to sell, sell, contract to sell, grant any option to sell or otherwise dispose of any Common Shares (other than
the Shares offered pursuant to this Agreement) or securities convertible into or exchangeable for Common Shares, warrants or any
rights to purchase or acquire, Common Shares prior to the termination of this Agreement; provided, however, that such restrictions
will not be required in connection with the Company’s (i) issuance or sale of Common Shares, options to purchase Common Shares,
Common Share-based awards, including restricted Common Shares, deferred Common Share units, restricted Common Share units, or Common
Shares issuable upon the exercise of options or other equity awards, including restricted Common Shares, deferred Common Share
units, restricted Common Share units, pursuant to any employee or director share option, incentive or benefit plan, share purchase
or ownership plan, long-term incentive plan, dividend reinvestment plan, inducement award under Nasdaq rules or other compensation
plan of the Company or its subsidiaries, as in effect on the date of this Agreement, (ii) issuance or sale of Common Shares issuable
upon exchange, conversion or redemption of securities or the exercise or vesting of warrants, options or other equity awards outstanding
at the date of this Agreement, (iii) issuance or sale of Common Shares or securities convertible into or exchangeable for Common
Shares as consideration for mergers, acquisitions or other business combinations, joint ventures, collaborations, licensing arrangements,
strategic alliances, or manufacturing, distribution, marketing, OEM, supply, sponsored research, technology transfer or development,
or third party service arrangements occurring after the date of this Agreement which are not used solely for capital raising purposes;
provided, however, that the aggregate number of Common Shares issued, or issuable pursuant to the conversion or exchange of securities
convertible into or exchangeable for Common Shares, under this subsection (iii) does not exceed 10% of the aggregate number of
Common Shares outstanding immediately prior to giving effect to such issuance or sale, and (iv) modification of any outstanding
options, warrants of any rights to purchase or acquire Common Shares.

 

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Section
5. CONDITIONS TO DELIVERY OF ISSUANCE NOTICES AND TO SETTLEMENT

 

(a)              
Conditions Precedent to the Right of the Company to Deliver an Issuance Notice and the Obligation of the Agent to Sell
Shares. The right of the Company to deliver an Issuance Notice hereunder is subject to the satisfaction, on the date of delivery
of such Issuance Notice, and the obligation of the Agent to use its commercially reasonable efforts to place Shares during the
applicable period set forth in the Issuance Notice is subject to the satisfaction, on each Trading Day during the applicable period
set forth in the Issuance Notice, of each of the following conditions:

 

		(i)	Accuracy of the Company’s Representations
and Warranties; Performance by the Company. The Company shall have delivered the certificate required to be delivered pursuant
to Section 4(o) on or before the date on which delivery of such certificate is required pursuant to Section 4(o).
The Company shall have performed, satisfied and complied with all covenants, agreements and conditions required by this Agreement
to be performed, satisfied or complied with by the Company at or prior to such date, including, but not limited to, the covenants
contained in ‎Section 4(p), Section 4(q) and Section 4(r).

 

		(ii)	No Injunction. No statute, rule, regulation, executive order, decree, ruling or injunction
shall have been enacted, entered, promulgated or endorsed by any court or governmental authority of competent jurisdiction or any
self-regulatory organization having authority over the matters contemplated hereby that prohibits or directly and materially adversely
affects any of the transactions contemplated by this Agreement, and no proceeding shall have been commenced that may have the effect
of prohibiting or materially adversely affecting any of the transactions contemplated by this Agreement.

 

		(iii)	Material Adverse Changes. Except as disclosed in the Prospectus and the Time of Sale Information,
(a) in the judgment of the Agent there shall not have occurred any Material Adverse Change; and (b) there shall not have occurred
any downgrading, nor shall any public notice have been given of any intended or potential downgrading or of any review for a possible
change that does not indicate the direction of the possible change, in the rating accorded any securities of the Company or any
of its subsidiaries by any “nationally recognized statistical rating organization” as such term is defined for purposes
of Section 3(a)(62) of the Exchange Act.

 

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		(iv)	No Suspension of Trading in or Delisting of Common Shares; Other Events. The trading of
the Common Shares (including without limitation the Shares) shall not have been suspended by the Commission, the Principal Market
or FINRA and the Common Shares (including without limitation the Shares) shall have been approved for listing or quotation on and
shall not have been delisted from the Nasdaq Stock Market, the New York Stock Exchange or any of their constituent markets. There
shall not have occurred (and be continuing in the case of occurrences under clauses (i) and (ii) below) any of the following:
(i) trading or quotation in any of the Company’s securities shall have been suspended or limited by the Commission or
by the Principal Market or trading in securities generally on the Principal Market shall have been suspended or limited, or minimum
or maximum prices shall have been generally established on any of such stock exchanges by the Commission or FINRA; (ii) a
general banking moratorium shall have been declared by any of federal or New York, authorities; or (iii) there shall have
occurred any outbreak or escalation of national or international hostilities or any crisis or calamity, or any change in the United
States or international financial markets, or any substantial change or development involving a prospective substantial change
in United States’ or international political, financial or economic conditions, as in the judgment of the Agent is material
and adverse and makes it impracticable to market the Shares in the manner and on the terms described in the Prospectus or to enforce
contracts for the sale of securities.

 

(b)              
Documents Required to be Delivered on each Issuance Notice Date. The Agent’s obligation to use its commercially
reasonable efforts to place Shares hereunder shall additionally be conditioned upon the delivery to the Agent on or before the
Issuance Notice Date of a certificate in form and substance reasonably satisfactory to the Agent, executed by the Chief Executive
Officer, President or Chief Financial Officer of the Company, to the effect
that all conditions to the delivery of such Issuance Notice shall have been satisfied as at the date of such certificate as required
to be delivered pursuant to Section 4(o) (which certificate shall not be required if the foregoing representations shall
be set forth in the Issuance Notice).

 

(c)              
No Misstatement or Material Omission. The Agent shall not have advised the Company that the Registration Statement,
the Prospectus or the Time of Sale Information, or any amendment or supplement thereto, contains an untrue statement of fact that
in the Agent’s reasonable opinion is material, or omits to state a fact that in the Agent’s reasonable opinion is material
and is required to be stated therein or is necessary to make the statements therein not misleading.

 

Section
6. INDEMNIFICATION AND CONTRIBUTION

 

(a)              
Indemnification of the Agent. The Company agrees to indemnify and hold harmless the Agent, its officers and employees,
and each person, if any, who controls the Agent within the meaning of the Securities Act or the Exchange Act against any loss,
claim, damage, liability or expense, as incurred, to which the Agent or such officer, employee or controlling person may become
subject, under the Securities Act, the Exchange Act, other federal or state statutory law or regulation, or the laws or regulations
of foreign jurisdictions where Shares have been offered or sold or at common law or otherwise (including in settlement of any litigation),
insofar as such loss, claim, damage, liability or expense (or actions in respect thereof as contemplated below) arises out of or
is based upon: (i) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement,
or any amendment thereto, including any information deemed to be a part thereof pursuant to Rule 430B under the Securities
Act, or the omission or alleged omission therefrom of a material fact required to be stated therein or necessary to make the statements
therein not misleading; or (ii) any untrue statement or alleged untrue statement of a material fact contained in any Free
Writing Prospectus that the Company has used, referred to or filed, or is required to file, pursuant to Rule 433(d) of the Securities
Act or the Prospectus (or any amendment or supplement thereto), or the omission or alleged omission therefrom of a material fact
necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading,
and to reimburse the Agent and each such officer, employee and controlling person for any and all expenses (including the reasonable
and documented fees and disbursements of counsel chosen by the Agent) as such expenses are reasonably incurred and documented by
the Agent or such officer, employee or controlling person in connection with investigating, defending, settling, compromising or
paying any such loss, claim, damage, liability, expense or action; provided, however, that the foregoing indemnity agreement shall
not apply to any loss, claim, damage, liability or expense to the extent, but only to the extent, arising out of or based upon
any untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with written
information furnished to the Company by the Agent expressly for use in the Registration Statement, any such Free Writing Prospectus
or the Prospectus (or any amendment or supplement thereto), it being understood and agreed that the only such information furnished
by the Agent to the Company consists of the information set forth in the first sentence of the ninth paragraph under the caption
 “Plan of Distribution” in the Prospectus (the “Agent Information”). The indemnity agreement set
forth in this ‎Section 6(a) shall be in addition to any liabilities that the Company may otherwise have.

 

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(b)              
Indemnification of the Company, its Directors and Officers. The Agent agrees to indemnify and hold harmless the Company,
each of its directors, each of its officers who signed the Registration Statement and each person, if any, who controls the Company
within the meaning of the Securities Act or the Exchange Act against any loss, claim, damage, liability or expense, as incurred,
to which the Company or any such director, officer or controlling person may become subject, under the Securities Act, the Exchange
Act, or other federal or state statutory law or regulation, or the laws or regulations of foreign jurisdictions where Shares have
been offered or sold or at common law or otherwise (including in settlement of any litigation), that arises out of or is based
upon (i) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement, or any amendment
thereto, including any information deemed to be a part thereof pursuant to Rule 430B under the Securities Act, or the omission
or alleged omission therefrom of a material fact required to be stated therein or necessary to make the statements therein not
misleading; or (ii) any untrue statement or alleged untrue statement of a material fact contained in any Free Writing Prospectus
that the Company has used, referred to or filed, or is required to file, pursuant to Rule 433(d) of the Securities Act or the Prospectus
(or any amendment or supplement thereto), or the omission or alleged omission therefrom of a material fact necessary in order to
make the statements therein, in the light of the circumstances under which they were made, not misleading; but, for each of (i)
and (ii) above, only to the extent arising out of or based upon any untrue statement or alleged untrue statement or omission or
alleged omission made in reliance upon and in conformity with written information furnished to the Company by the Agent expressly
for use in the Registration Statement, any such Free Writing Prospectus or the Prospectus (or any amendment or supplement thereto),
it being understood and agreed that the only such information furnished by the Agent to the Company consists of the Agent Information,
and to reimburse the Company and each such director, officer and controlling person for any and all expenses (including the reasonable
and documented fees and disbursements of one counsel chosen by the Company) as such expenses are reasonably incurred and documented
by the Company or such officer, director or controlling person in connection with investigating, defending, settling, compromising
or paying any such loss, claim, damage, liability, expense or action. The indemnity agreement set forth in this Section 6(b)
shall be in addition to any liabilities that the Agent may otherwise have.

 

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(c)              
Notifications and Other Indemnification Procedures. Promptly after receipt by an indemnified party under this ‎Section
6 of notice of the commencement of any action, such indemnified party will, if a claim in respect thereof is to be made against
an indemnifying party under this ‎Section 6, notify the indemnifying party in writing of the commencement thereof, but
the omission to so notify the indemnifying party will not relieve it from any liability which it may have to any indemnified party
for contribution or otherwise than under the indemnity agreement contained in this ‎Section 6 or to the extent it is
not prejudiced as a proximate result of such failure. In case any such action is brought against any indemnified party and such
indemnified party seeks or intends to seek indemnity from an indemnifying party, the indemnifying party will be entitled to participate
in, and, to the extent that it shall elect, jointly with all other indemnifying parties similarly notified, by written notice delivered
to the indemnified party promptly after receiving the aforesaid notice from such indemnified party, to assume the defense thereof
with counsel reasonably satisfactory to such indemnified party; provided, however, if the defendants in any such action include
both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that a conflict
may arise between the positions of the indemnifying party and the indemnified party in conducting the defense of any such action
or that there may be legal defenses available to it and/or other indemnified parties which are different from or additional to
those available to the indemnifying party, the indemnified party or parties shall have the right to select separate counsel to
assume such legal defenses and to otherwise participate in the defense of such action on behalf of such indemnified party or parties.
Upon receipt of notice from the indemnifying party to such indemnified party of such indemnifying party’s election to so
assume the defense of such action and approval by the indemnified party of counsel, the indemnifying party will not be liable to
such indemnified party under this ‎Section 6 for any legal or other expenses subsequently incurred by such indemnified
party in connection with the defense thereof unless (i) the indemnified party shall have employed separate counsel in accordance
with the proviso to the preceding sentence (it being understood, however, that the indemnifying party shall not be liable for the
fees and expenses of more than one separate counsel (together with local counsel), representing the indemnified parties who are
parties to such action), which counsel (together with any local counsel) for the indemnified parties shall be selected by the indemnified
party (in the case of counsel for the indemnified parties referred to in ‎Section 6(a) and Section 6(b) above),
(ii) the indemnifying party shall not have employed counsel satisfactory to the indemnified party to represent the indemnified
party within a reasonable time after notice of commencement of the action or (iii) the indemnifying party has authorized in writing
the employment of counsel for the indemnified party at the expense of the indemnifying party, in each of which cases the fees and
expenses of counsel shall be at the expense of the indemnifying party and shall be paid as they are incurred.

 

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(d)              
Settlements. The indemnifying party under this ‎Section 6 shall not be liable for any settlement of any
proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff,
the indemnifying party agrees to indemnify the indemnified party against any loss, claim, damage, liability or expense by reason
of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested
an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by ‎Section 6(c)
hereof, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written
consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid
request; and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request
prior to the date of such settlement. No indemnifying party shall, without the prior written consent of the indemnified party,
effect any settlement, compromise or consent to the entry of judgment in any pending or threatened action, suit or proceeding in
respect of which any indemnified party is or could have been a party and indemnity was or could have been sought hereunder by such
indemnified party, unless such settlement, compromise or consent includes an unconditional release of such indemnified party from
all liability on claims that are the subject matter of such action, suit or proceeding.

 

(e)              
Contribution. If the indemnification provided for in this ‎Section 6 is for any reason held to be unavailable
to or otherwise insufficient to hold harmless an indemnified party in respect of any losses, claims, damages, liabilities or expenses
referred to therein, then each indemnifying party shall contribute to the aggregate amount paid or payable by such indemnified
party, as incurred, as a result of any losses, claims, damages, liabilities or expenses referred to therein (i) in such proportion
as is appropriate to reflect the relative benefits received by the Company, on the one hand, and the Agent, on the other hand,
from the offering of the Shares pursuant to this Agreement; or (ii) if the allocation provided by clause (i) above is
not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in
clause (i) above but also the relative fault of the Company, on the one hand, and the Agent, on the other hand, in connection
with the statements or omissions which resulted in such losses, claims, damages, liabilities or expenses, as well as any other
relevant equitable considerations. The relative benefits received by the Company, on the one hand, and the Agent, on the other
hand, in connection with the offering of the Shares pursuant to this Agreement shall be deemed to be in the same respective proportions
as the total gross proceeds from the offering of the Shares (before deducting expenses) received by the Company bear to the total
commissions received by the Agent. The relative fault of the Company, on the one hand, and the Agent, on the other hand, shall
be determined by reference to, among other things, whether any such untrue or alleged untrue statement of a material fact or omission
or alleged omission to state a material fact relates to information supplied by the Company, on the one hand, or the Agent, on
the other hand, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent
such statement or omission.

 

The
amount paid or payable by a party as a result of the losses, claims, damages, liabilities and expenses referred to above shall
be deemed to include, subject to the limitations set forth in ‎Section 6(c), any legal or other fees or expenses
reasonably incurred and documented by such party in connection with investigating or defending any action or claim. The provisions
set forth in ‎Section 6(c) with respect to notice of commencement of any action shall apply if a claim for contribution
is to be made under this ‎Section 6(c); provided, however, that no additional notice shall be required
with respect to any action for which notice has been given under ‎Section 6(c) for purposes of indemnification.

 

    33

     

    

 

The
Company and the Agent agree that it would not be just and equitable if contribution pursuant to this ‎Section 6(e)
were determined by pro rata allocation or by any other method of allocation which does not take account of the equitable considerations
referred to in this ‎Section 6(e).

 

Notwithstanding
the provisions of this ‎Section 6(e), the Agent shall not be required to contribute any amount in excess of the
Selling Commission received by the Agent in connection with the offering contemplated hereby. 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 who was not
guilty of such fraudulent misrepresentation. For purposes of this ‎Section 6(d), each officer and employee of the Agent
and each person, if any, who controls the Agent within the meaning of the Securities Act or the Exchange Act shall have the same
rights to contribution as the Agent, and each director of the Company, each officer of the Company who signed the Registration
Statement, and each person, if any, who controls the Company within the meaning of the Securities Act and the Exchange Act shall
have the same rights to contribution as the Company.

 

Section
7. TERMINATION & SURVIVAL

 

(a)              
Term. Subject to the provisions of this ‎Section 7, the term of this Agreement shall continue from the
date of this Agreement until the end of the Agency Period, unless earlier terminated by the parties to this Agreement pursuant
to this ‎Section 7.

 

(b)              
Termination; Survival Following Termination.

 

		(i)	Either party may terminate this Agreement
prior to the end of the Agency Period, by giving written notice as required by this Agreement, upon ten (10) Trading Days’
notice to the other party; provided that, (A) if the Company terminates this Agreement after the Agent confirms to the Company
any sale of Shares, the Company shall remain obligated to comply with ‎Section 3(b)(v) with respect
to such Shares and (B) ‎Section 2, ‎Section 6, ‎Section 7 and ‎Section 8 shall survive
termination of this Agreement. If termination shall occur prior to the Settlement Date for any sale of Shares, such sale shall
nevertheless settle in accordance with the terms of this Agreement.

 

(ii)
In addition to the survival provision of ‎Section 7(b)(i), the respective indemnities, agreements, representations,
warranties and other statements of the Company, of its officers and of the Agent set forth in or made pursuant to this Agreement
will remain in full force and effect, regardless of any investigation made by or on behalf of the Agent or the Company or any of
its or their partners, officers or directors or any controlling person, as the case may be, and, anything herein to the contrary
notwithstanding, will survive delivery of and payment for the Shares sold hereunder and any termination of this Agreement.

 

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Section
8. MISCELLANEOUS

 

(a)              
Press Releases and Disclosure. The Company may issue a press release describing the material terms of the transactions
contemplated hereby as soon as practicable following the date of this Agreement, and may file with the Commission a Current Report
on Form 8-K, with this Agreement attached as an exhibit thereto, describing the material terms of the transactions contemplated
hereby, and the Company shall consult with the Agent prior to making such disclosures, and the parties hereto shall use all commercially
reasonable efforts, acting in good faith, to agree upon a text for such disclosures that is reasonably satisfactory to all parties
hereto. No party hereto shall issue thereafter any press release or like public statement (including, without limitation, any disclosure
required in reports filed with the Commission pursuant to the Exchange Act) related to this Agreement or any of the transactions
contemplated hereby without the prior written approval of the other party hereto, except as may be necessary or appropriate in
the reasonable opinion of the party seeking to make disclosure to comply with the requirements of applicable law or stock exchange
rules. If any such press release or like public statement is so required, the party making such disclosure shall consult with the
other party prior to making such disclosure, and the parties shall use all commercially reasonable efforts, acting in good faith,
to agree upon a text for such disclosure that is reasonably satisfactory to all parties hereto.

 

(b)              
No Advisory or Fiduciary Relationship. The Company acknowledges and agrees that (i) the transactions contemplated
by this Agreement, including the determination of any fees, are arm’s-length commercial transactions between the Company
and the Agent, (ii) when acting as a principal under this Agreement, the Agent is and has been acting solely as a principal and
is not the agent or fiduciary of the Company, or its stockholders, creditors, employees or any other party, (iii) the Agent has
not assumed nor will assume an advisory or fiduciary responsibility in favor of the Company with respect to the transactions contemplated
hereby or the process leading thereto (irrespective of whether the Agent has advised or is currently advising the Company on other
matters) and the Agent does not have any obligation to the Company with respect to the transactions contemplated hereby except
the obligations expressly set forth in this Agreement, (iv) the Agent and its respective Affiliates may be engaged in a broad range
of transactions that involve interests that differ from those of the Company, and (v) the Agent has not provided any legal, accounting,
regulatory or tax advice with respect to the transactions contemplated hereby and the Company has consulted its own legal, accounting,
regulatory and tax advisors to the extent it deemed appropriate.

 

(c)              
Research Analyst Independence. The Company acknowledges that the Agent’s research analysts and research departments
are required to and should be independent from their respective investment banking divisions and are subject to certain regulations
and internal policies, and as such the Agent’s research analysts may hold views and make statements or investment recommendations
and/or publish research reports with respect to the Company or the offering that differ from the views of their respective investment
banking divisions. The Company understands that the Agent is a full service securities firm and as such from time to time, subject
to applicable securities laws, may effect transactions for its own account or the account of its customers and hold long or short
positions in debt or equity securities of the companies that may be the subject of the transactions contemplated by this Agreement.

 

    35

     

    

 

(d)              
Notices. All communications hereunder shall be in writing and shall be mailed, hand delivered or telecopied and confirmed
to the parties hereto as follows:

  

If
to the Agent:

Jefferies LLC

520 Madison Avenue

New York, NY 10022

Facsimile: (646) 619-4437

Attention: General Counsel

 

with a copy (which shall not
constitute notice) to:

Latham & Watkins LLP

12670 High Bluff Drive

San Diego, CA 92130

Facsimile: (858) 523-5450

Attention: Michael Sullivan.

 

If to the Company:

ImmunoGen, Inc.

830 Winter Street

Waltham, MA 02451

Facsimile: (781) 207-0265

Attention: Joseph Kenny

 

with a copy (which shall not
constitute notice) to:

Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.

One Financial Center

Boston, MA 02111

Facsimile: (617) 542-2241

Attention: Daniel T. Kajunski.

 

Any
party hereto may change the address for receipt of communications by giving written notice to the others in accordance with this
‎Section 8(d).

 

(e)              Termination
of Prior Open Market Sale AgreementSM. The Company and the Agent hereby agree that the Open Market Sale
AgreementSM by and between the Company and the Agent, dated as of September 25, 2020 (the “Prior Sale
Agreement”), is hereby terminated, effective as of the date hereof, notwithstanding the Section 7(a) of the Prior
Sale Agreement or the notice otherwise required under Section 7(b) of the Prior Sale Agreement, except for those obligations, rights and provisions that survive termination pursuant to Section 7 of the Prior Sale Agreement.

 

(f)              
Successors. This Agreement will inure to the benefit of and be binding upon the parties hereto, and to the benefit
of the employees, officers and directors and controlling persons referred to in ‎Section 6, and in each case their respective
successors, and no other person will have any right or obligation hereunder. The term “successors” shall not include
any purchaser of the Shares as such from the Agent merely by reason of such purchase.

 

(g)               
Partial Unenforceability. The invalidity or unenforceability of any Article, Section, paragraph or provision of this
Agreement shall not affect the validity or enforceability of any other Article, Section, paragraph or provision hereof. If any
Article, Section, paragraph or provision of this Agreement is for any reason determined to be invalid or unenforceable, there shall
be deemed to be made such minor changes (and only such minor changes) as are necessary to make it valid and enforceable.

 

    36

     

    

 

(h)              
Governing Law Provisions. This Agreement shall be governed by and construed in accordance with the internal laws
of the State of New York applicable to agreements made and to be performed in such state. Any legal suit, action or proceeding
arising out of or based upon this Agreement or the transactions contemplated hereby may be instituted in the federal courts of
the United States of America located in the Borough of Manhattan in the City of New York or the courts of the State of New York
in each case located in the Borough of Manhattan in the City of New York (collectively, the “Specified Courts”),
and each party irrevocably submits to the exclusive jurisdiction (except for proceedings instituted in regard to the enforcement
of a judgment of any such court, as to which such jurisdiction is non-exclusive) of such courts in any such suit, action or proceeding.
Service of any process, summons, notice or document by mail to such party’s address set forth above shall be effective service
of process for any suit, action or other proceeding brought in any such court. The parties irrevocably and unconditionally waive
any objection to the laying of venue of any suit, action or other proceeding in the Specified Courts and irrevocably and unconditionally
waive and agree not to plead or claim in any such court that any such suit, action or other proceeding brought in any such court
has been brought in an inconvenient forum.

 

(i)              
General Provisions. This Agreement constitutes the entire agreement of the parties to this Agreement and supersedes
all prior written or oral and all contemporaneous oral agreements, understandings and negotiations with respect to the subject
matter hereof. This Agreement may be executed in two or more counterparts, each one of which shall be an original, with the same
effect as if the signatures thereto and hereto were upon the same instrument, and may be delivered by facsimile transmission or
by electronic delivery of a portable document format (PDF) file. This Agreement may not be amended or modified unless in writing
by all of the parties hereto, and no condition herein (express or implied) may be waived unless waived in writing by each party
whom the condition is meant to benefit. The Article and Section headings herein are for the convenience of the parties only and
shall not affect the construction or interpretation of this Agreement.

 

[Signature Page Immediately Follows]

 

    37

     

    

 

If the foregoing is
in accordance with your understanding of our agreement, kindly sign and return to the Company the enclosed copies hereof, whereupon
this instrument, along with all counterparts hereof, shall become a binding agreement in accordance with its terms

 

 

	 	Very truly
    yours,
	 	 
	 	IMMUNOGEN, INC.
	 	 
	 	By:	/s/  Susan Altschuller
	 	 	Name: Susan Altschuller 

	 	 	Title:Chief Financial Officer

 

The foregoing Agreement is hereby confirmed
and accepted by the Agent in New York, New York as of the date first above written.

 

	JEFFERIES
    LLC	 
	 	 
	By:	/s/  Donald Lynaugh	 
	 	Name:    Donald Lynaugh	 
	 	Title:Managing Director	 

 

     

     

    

 

EXHIBIT A

 

ISSUANCE NOTICE

 

[Date]

 

Jefferies LLC

520 Madison Avenue

New York, New York 10022

 

Attn: [__________]

 

Reference is made to the Open Market
Sale Agreement between __________ (the “Company”) and Jefferies LLC (the “Agent”) dated
as of December 18, 2020. The Company confirms that all conditions to the delivery of this Issuance Notice are satisfied as of
the date hereof.

 

Date
of Delivery of Issuance Notice (determined pursuant to ‎Section 3(b)(i)): 

_______________________

 

Issuance Amount (equal to the total Sales Price for such Shares):

 

	 	$	 	 
	 	 	 
	Number of days in selling
    period:	 	 
	 	 	 
	First date of selling period:	 	 
	 	 	 
	Last date of selling period:	 	 
	 	 	 
	Settlement Date(s) if other than standard T+2 settlement:	 
	 	 	 

 

 

 

Floor Price Limitation (in no event less
than $1.00 without the prior written consent of the Agent, which consent may be withheld in the Agent’s sole discretion):
$ ____ per share

 

	Comments:   	 

 

 

	 	 
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    A-1

     

    

 

Schedule A

 

Notice Parties

 

The Company

 

Mark Enyedy (Mark.Enyedy@immunogen.com)

Susan Altschuller (Susan.Altschuller@immunogen.com)

Joseph Kenny (Joseph.Kenny@immunogen.com)

 

The Agent

 

Dustin Tyner (dtyner@jefferies.com)

Donald Lynaugh (dlynaugh@jefferies.com)

Michael Magarro (mmagarro@jefferies.com)

Jack Fabbri (fabbri@jefferies.com)EX-10.1

 Exhibit 10.1 

EXECUTION COPY 
 AMENDMENT
NO. 1 
 Dated as of December 17, 2020 

to 
 CREDIT AGREEMENT 

Dated as of December 20, 2018 

THIS AMENDMENT NO. 1 (this “Amendment”) is made as of December 17, 2020 by and among UNIVERSAL CORPORATION, a Virginia
corporation (the “Borrower”), the financial institutions listed on the signature pages hereof and JPMORGAN CHASE BANK, N.A., as Administrative Agent (the “Administrative Agent’), under that certain Credit Agreement
dated as of December 20, 2018 by and among the Borrower, the Lenders and the Administrative Agent (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”). Capitalized terms used
herein and not otherwise defined herein shall have the respective meanings given to them in the Credit Agreement. 
 WHEREAS, the Borrower
has requested that (i) certain Lenders agree to provide two supplemental tranches of term loans, each on the same terms as, and added to the outstanding balance of, the existing Term Loans under the Credit Agreement pursuant to
Section 9.02(c) of the Credit Agreement and (ii) the requisite Lenders and the Administrative Agent agree to make certain other amendments to the Credit Agreement; 

WHEREAS, the Borrower, the Lenders party hereto and the Administrative Agent have so agreed on the terms and conditions set forth herein; 

NOW, THEREFORE, in consideration of the premises set forth above, the terms and conditions contained herein, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the Borrower, the Lenders party hereto and the Administrative Agent hereby agree to enter into this Amendment. 

1. Amendments to the Credit Agreement. Effective as of the date of satisfaction of the conditions precedent set forth in Section 2
below: 
 (a) The parties hereto agree that the Credit Agreement (including certain of the Exhibits and Schedules thereto) is hereby amended
to delete the stricken text (indicated textually in the same manner as the following example: stricken text)
and to add the double-underlined text (indicated textually in the same manner as the following example:
double-underlined text) as set forth in the pages of
the Credit Agreement (including certain of the Exhibits and Schedules thereto) attached as Annex A hereto (the Credit Agreement as so amended, the “Amended Credit Agreement”). 

(b) The parties hereto acknowledge and agree that this Amendment is being entered into and consummated pursuant to Section 9.02 of
the Credit Agreement (including, without limitation, in respect of the addition of the two supplemental tranches of term loans, pursuant to Section 9.02(c) of the Credit Agreement). 

 (c) The parties hereto acknowledge and agree that (i) each Lender that delivers its
signature page to this Amendment and which also has a Term A-1 2020 Loan Commitment listed opposite its name in Schedule 2.01A set forth in the Amended Credit Agreement shall be and is a Term A-1 2020 Loan Lender for all purposes under the
Amended Credit Agreement and (ii) each Lender that delivers its signature page to this Amendment and which also has a Term A-2 2020 Loan Commitment listed opposite its name in Schedule 2.01A set forth in the Amended Credit Agreement
shall be and is a Term A-2 2020 Loan Lender for all purposes under the Amended Credit Agreement. 
 2. Conditions of Effectiveness.
The effectiveness of this Amendment (the date of such effectiveness, the “Amendment Effective Date”) is subject to the satisfaction of the following conditions precedent: 

(a) The Administrative Agent (or its counsel) shall have received counterparts of this Amendment duly executed by the Borrower, each of the
Term A-1 2020 Loan Lenders, each of the Term A-2 2020 Loan Lenders, the Required Lenders, each Issuing Bank and the Administrative Agent. 

(b) The Administrative Agent shall have received favorable written opinions (addressed to the Administrative Agent and the Lenders and dated
the Amendment Effective Date) of (i) Hunton Andrews Kurth LLP, outside counsel for the Borrower and (ii) Preston D. Wigner, internal counsel for the Borrower, in each case in form and substance reasonably satisfactory to the Administrative
Agent and its counsel and covering such matters relating to the Borrower, the Loan Documents, this Amendment, the Amended Credit Agreement and the Transactions as the Administrative Agent shall reasonably request. The Borrower hereby requests such
counsel to deliver such opinions. 
 (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 Borrower, the authorization of the Amendment and the Amended Credit Agreement and any other legal matters relating to the Borrower, the Loan
Documents or the Transactions, all in form and substance reasonably satisfactory to the Administrative Agent and its counsel. 
 (d) The
Administrative Agent shall have received a certificate, dated the Amendment Effective Date and signed by the President, a Vice President or a Financial Officer of the Borrower, certifying that (i) the representations and warranties of the
Borrower set forth in the Credit Agreement are true and correct in all material respects (or in all respects if such representation or warranty is qualified by materiality or Material Adverse Effect) and (ii) no Default or Event of Default has
occurred and is continuing. 
 (e) To the extent the Borrower qualifies as a “legal entity customer” under the Beneficial Ownership
Regulation, at least five (5) days prior to the Amendment Effective Date, any Lender that has requested, in a written notice to the Borrower at least ten (10) days prior to the Amendment Effective Date, a Beneficial Ownership Certification
in relation to the Borrower shall have received such Beneficial Ownership Certification (provided that, upon the execution and delivery by such Lender of its signature page to this Amendment, the condition set forth in this clause (e) shall be
deemed to be satisfied). 
 (f) The Administrative Agent shall have received (i) for the account of each Term A-1 2020 Lender under (and
as defined in) the Amended Credit Agreement that delivers its executed signature page to this Amendment by no later than the date and time specified by the Administrative Agent, an upfront fee in amount equal to the amount previously disclosed to
the Term A-1 2020 Lenders, (ii) for the account of each Term A-2 2020 Lender under (and as defined in) the Amended Credit Agreement that delivers its executed signature page to this Amendment by no later than the date and time specified by the
Administrative Agent, an upfront fee in amount equal to the amount previously disclosed to the Term A-2 

  
 2 

 
2020 and (iii) payment of the Administrative Agent’s and its affiliates’ fees and reasonable and documented out-of-pocket expenses (including reasonable fees, charges and expenses
of counsel for the Administrative Agent) in connection with this Amendment and the other Loan Documents to the extent provided for in Section 9.03 of the Amended Credit Agreement. 

3. Representations and Warranties of the Borrower. The Borrower hereby represents and warrants as follows: 

(a) The Borrower has the corporate power and authority, and the legal right, to make, deliver, and perform this Amendment and the Amended
Credit Agreement and has taken all necessary corporate action to authorize the execution, delivery, and performance by it of this Amendment and the Amended Credit Agreement. 

(b) This Amendment and the Amended Credit Agreement constitute valid and legally binding obligations of the Borrower, enforceable in accordance
with their respective terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium, and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles. 

(c) As of the date hereof and after giving effect to the terms of this Amendment, (i) no Default or Event of Default has occurred and is
continuing and (ii) the representations and warranties of the Borrower set forth in the Amended Credit Agreement are true and correct in all material respects (or in all respects if such representation or warranty is qualified by materiality or
Material Adverse Effect). 
 4. Reference to and Effect on the Credit Agreement. 

(a) Upon the effectiveness hereof, each reference to the Credit Agreement in the Credit Agreement or any other Loan Document shall mean and be
a reference to the Amended Credit Agreement. 
 (b) Each Loan Document and all other documents, instruments and agreements executed and/or
delivered in connection therewith shall remain in full force and effect and are hereby ratified and confirmed. 
 (c) The execution, delivery
and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of the Administrative Agent or the Lenders, nor constitute a waiver of any provision of the Credit Agreement, the other Loan Documents or any other
documents, instruments and agreements executed and/or delivered in connection therewith. 
 (d) This Amendment is a Loan Document. 

5. Governing Law. This Amendment shall be construed in accordance with and governed by the law of the State of New York. 

6. Headings. Section headings used herein are for convenience of reference only, are not part of this Amendment and shall not affect the
construction of, or be taken into consideration in interpreting, this Amendment. 
 7. Counterparts. This Amendment 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. The words “execution,” “signed,”
“signature,” “delivery,” and words of like import in or relating to this Amendment and/or any document to be signed in connection with this Amendment and the transactions contemplated hereby shall be deemed to include Electronic

  
 3 

 
Signatures (as defined below), deliveries or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed
signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be. As used herein, “Electronic Signatures” means any electronic symbol or process attached to, or associated with, any contract
or other record and adopted by a person with the intent to sign, authenticate or accept such contract or record. 
 [Signature Pages Follow]

  
 4 

 IN WITNESS WHEREOF, this Amendment has been duly executed as of the day and year first above
written. 
  

			
	UNIVERSAL CORPORATION,
	as the Borrower
		
	By:	 	 /s/ Johan C. Kroner

	Name:	 	Johan C. Kroner
	Title:	 	Senior Vice President and Chief Financial Officer

 Signature Page to Amendment No. 1 to 

Credit Agreement dated as of December 20, 2018 

Universal Corporation 

 
			
	JPMORGAN CHASE BANK, N.A.,
	individually as a Lender, as an Issuing Bank and as Administrative Agent
		
	By:	 	 /s/ Joon Hur

	Name:	 	Joon Hur
	Title:	 	Executive Director

 Signature Page to Amendment No. 1 to 

Credit Agreement dated as of December 20, 2018 

Universal Corporation 

 
			
	TRUIST BANK (as successor by merger to SunTrust Bank),
	individually as a Lender and as an Issuing Bank
		
	By:	 	 /s/ J. Carlos Navarrete

	Name:	 	J. Carlos Navarrete
	Title:	 	Director

 Signature Page to Amendment No. 1 to 

Credit Agreement dated as of December 20, 2018 

Universal Corporation 

 
			
	AGFIRST FARM CREDIT BANK,
	individually as a Lender and as an Issuing Bank
		
	By:	 	 /s/ Christopher Reynolds

	Name:	 	Christopher Reynolds
	Title:	 	AVP

 Signature Page to Amendment No. 1 to 

Credit Agreement dated as of December 20, 2018 

Universal Corporation 

 
			
	KEYBANK NATIONAL ASSOCIATION,
	as a Lender
		
	By:	 	 /s/ David A. Wild

	Name:	 	David A. Wild
	Title:	 	Senior Vice President

 Signature Page to Amendment No. 1 to 

Credit Agreement dated as of December 20, 2018 

Universal Corporation 

 
			
	TRUIST BANK (formerly known as Branch Banking and Trust Company),
	as a Lender
		
	By:	 	 /s/ J. Carlos Navarrete

	Name:	 	J. Carlos Navarrete
	Title:	 	Director

 Signature Page to Amendment No. 1 to 

Credit Agreement dated as of December 20, 2018 

Universal Corporation 

 
			
	FIRST HORIZON BANK,
	as a Lender
		
	By:	 	 /s/ Todd Warrick

	Name:	 	Todd Warrick
	Title:	 	SVP

 Signature Page to Amendment No. 1 to 

Credit Agreement dated as of December 20, 2018 

Universal Corporation 

 
			
	UBS SWITZERLAND AG,
	as a Lender
		
	By:	 	 /s/ Alexandra Dumas

	Name:	 	Alexandra Dumas
	Title:	 	Sous-directrice
		
	By:	 	 /s/ Régis Baumgartner

	Name:	 	Régis Baumgartner
	Title:	 	Executive Director

 Signature Page to Amendment No. 1 to 

Credit Agreement dated as of December 20, 2018 

Universal Corporation 

 
			
	CITIBANK, N.A.,
	as a Lender
		
	By:	 	 /s/ Collene Greenlee

	Name:	 	Collene Greenlee
	Title:	 	Director

 Signature Page to Amendment No. 1 to 

Credit Agreement dated as of December 20, 2018 

Universal Corporation 

 
			
	ATLANTIC UNION BANK,
	as a Lender
		
	By:	 	 /s/ Martin J. Rust

	Name:	 	Martin J. Rust
	Title:	 	Managing Director, Corporate Banking

 Signature Page to Amendment No. 1 to 

Credit Agreement dated as of December 20, 2018 

Universal Corporation 

 
			
	FARM CREDIT BANK OF TEXAS,
	as a Lender
		
	By:	 	 /s/ Alan Robinson

	Name:	 	Alan Robinson
	Title:	 	Vice President

 Signature Page to Amendment No. 1 to 

Credit Agreement dated as of December 20, 2018 

Universal Corporation 

 
			
	COBANK, ACB,
	as a Lender
		
	By:	 	 /s/ James J. Trankle

	Name:	 	James J. Trankle
	Title:	 	Managing Director

 Signature Page to Amendment No. 1 to 

Credit Agreement dated as of December 20, 2018 

Universal Corporation 

 
			
	FARM CREDIT MID-AMERICA, PCA,
	as a Lender
		
	By:	 	 /s/ Patrick Sauer

	Name:	 	Patrick Sauer
	Title:	 	Vice President Food & Agribusiness

 Signature Page to Amendment No. 1 to 

Credit Agreement dated as of December 20, 2018 

Universal Corporation 

 
			
	GREENSTONE FARM CREDIT SERVICES, ACA,
	as a Lender
		
	By:	 	 /s/ Shane Prichard

	Name:	 	Shane Prichard
	Title:	 	Vice President of Capital Markets

 Signature Page to Amendment No. 1 to 

Credit Agreement dated as of December 20, 2018 

Universal Corporation 

 
			
	NORTHWEST FARM CREDIT SERVICES, PCA,
	as a Lender
		
	By:	 	 /s/ Casey Kinzer

	Name:	 	Casey Kinzer
	Title:	 	Vice President

 Signature Page to Amendment No. 1 to 

Credit Agreement dated as of December 20, 2018 

Universal Corporation 

 ANNEX A 

Attached 

 Annex A 
  

 
  
 

 
 CREDIT AGREEMENT 

dated as of 
 December 20,
2018 
 among 
 UNIVERSAL
CORPORATION 
 The Lenders Party Hereto 

JPMORGAN CHASE BANK, N.A. 
 as
Administrative Agent 
 SUNTRUSTTRUIST BANK and AGFIRST FARM CREDIT BANK 

as Co-Syndication Agents 
 and 

KEYBANK NATIONAL ASSOCIATION and CAPITAL ONE, NATIONAL ASSOCIATION 

as Co-Documentation Agents 

JPMORGAN CHASE BANK, N.A., 
 SUNTRUST ROBINSON HUMPHREYTRUIST SECURITIES,
INC. and 
 AGFIRST FARM CREDIT BANK 

as Joint Bookrunners and Joint Lead Arrangers 

in respect of the Revolving Credit Facility and the Term A-1 Loan Facility 

AGFIRST FARM CREDIT BANK 
 JPMORGAN
CHASE BANK, N.A. and 
 SUNTRUST ROBINSON HUMPHREYTRUIST SECURITIES, INC. 

as Joint Bookrunners and Joint Lead Arrangers 

in respect of the Term A-2 Loan Facility 
  

 

 TABLE OF CONTENTS 
  

							
	 	 	 	  	Page	 
		
	 ARTICLE I Definitions
	  	 	1	 
			
	 SECTION 1.01.
	 	Defined Terms	  	 	1	 
	 SECTION 1.02.
	 	Classification of Loans and Borrowings	  	 	2427	 
	 SECTION 1.03.
	 	Terms Generally	  	 	2428	 
	 SECTION 1.04.
	 	Accounting Terms; GAAP	  	 	2528	 
	 SECTION 1.05.
	 	Interest Rates; LIBOR Notification	  	 	2529	 
	 SECTION 1.06.
	 	Status of Obligations	  	 	2629	 
	 SECTION
1.07.
	 	Divisions	  	 	29	 
		
	 ARTICLE II The Credits
	  	 	2630	 
			
	 SECTION 2.01.
	 	Commitments	  	 	2630	 
	 SECTION 2.02.
	 	Loans and Borrowings	  	 	2631	 
	 SECTION 2.03.
	 	Requests for Borrowings	  	 	2731	 
	 SECTION 2.04.
	 	Intentionally Omitted	  	 	2829	 
	 SECTION 2.05.
	 	Swingline Loans	  	 	2830	 
	 SECTION 2.06.
	 	Letters of Credit	  	 	2934	 
	 SECTION 2.07.
	 	Funding of Borrowings	  	 	3439	 
	 SECTION 2.08.
	 	Interest Elections	  	 	3539	 
	 SECTION 2.09.
	 	Termination and Reduction of Commitments	  	 	3638	 
	 SECTION 2.10.
	 	Repayment of Loans; Evidence of Debt	  	 	3641	 
	 SECTION 2.11.
	 	Prepayment of Loans	  	 	3742	 
	 SECTION 2.12.
	 	Fees	  	 	3742	 
	 SECTION 2.13.
	 	Interest	  	 	3840	 
	 SECTION 2.14.
	 	Alternate Rate of Interest	  	 	3941	 
	 SECTION 2.15.
	 	Increased Costs	  	 	4042	 
	 SECTION 2.16.
	 	Break Funding Payments	  	 	4143	 
	 SECTION 2.17.
	 	Taxes	  	 	4244	 
	 SECTION 2.18.
	 	Payments Generally; Pro Rata Treatment; Sharing of Set-offs	  	 	4547	 
	 SECTION 2.19.
	 	Mitigation Obligations; Replacement of Lenders	  	 	4749	 
	 SECTION 2.20.
	 	Expansion Option	  	 	4853	 
	 SECTION 2.21.
	 	Defaulting Lenders	  	 	4951	 
		
	 ARTICLE III Representations and Warranties
	  	 	5153	 
			
	 SECTION 3.01.
	 	Financial Condition; No Material Adverse Change	  	 	5153	 
	 SECTION 3.02.
	 	Organization; Existence	  	 	5254	 
	 SECTION 3.03.
	 	Power; Authorization; Enforceable Obligations	  	 	5254	 
	 SECTION 3.04.
	 	Conflict	  	 	5254	 
	 SECTION 3.05.
	 	No Material Litigation	  	 	5254	 
	 SECTION 3.06.
	 	No Default	  	 	5254	 
	 SECTION 3.07.
	 	Taxes	  	 	5355	 
	 SECTION 3.08.
	 	ERISA	  	 	5355	 
	 SECTION 3.09.
	 	Governmental Regulations, Etc.	  	 	5456	 
	 SECTION 3.10.
	 	Subsidiaries	  	 	5456	 
	 SECTION 3.11.
	 	Purpose of Loans and Letters of Credit	  	 	5456	 
	 SECTION 3.12.
	 	Compliance with Laws; Contractual Obligations	  	 	5456	 
	 SECTION 3.13.
	 	Accuracy and Completeness of Information	  	 	5557	 
	 SECTION 3.14.
	 	Environmental Matters	  	 	5557	 

 Table of Contents 

(continued) 
  

							
	 	 	 	  	Page	 
			
	 SECTION 3.15.
	 	Anti-Corruption Laws and Sanctions	  	 	5658	 
	 SECTION 3.16.
	 	EEAAffected Financial Institutions	  	 	5662	 
		
	 ARTICLE IV Conditions
	  	 	5662	 
			
	 SECTION 4.01.
	 	Effective Date	  	 	5662	 
	 SECTION 4.02.
	 	Each Credit Event	  	 	5763	 
		
	 ARTICLE V Affirmative Covenants
	  	 	5863	 
			
	 SECTION 5.01.
	 	Financial Statements	  	 	5863	 
	 SECTION 5.02.
	 	Certificates; Other Information	  	 	5961	 
	 SECTION 5.03.
	 	Notices	  	 	5961	 
	 SECTION 5.04.
	 	Maintenance of Existence; Compliance with Law; Maintenance of Certain Policies and Procedures; Performance of Material Contractual Obligations	  	 	6062	 
	 SECTION 5.05.
	 	Maintenance of Property; Insurance	  	 	6163	 
	 SECTION 5.06.
	 	Inspection of Property; Books and Records; Discussions	  	 	6163	 
	 SECTION 5.07.
	 	Financial Covenants	  	 	6163	 
	 SECTION 5.08.
	 	Use of Proceeds	  	 	6163	 
	 SECTION 5.09.
	 	Additional Subsidiary Guarantors	  	 	6163	 
	 SECTION 5.10.
	 	Payment of Obligations	  	 	6163	 
	 SECTION 5.11.
	 	Further Assurances	  	 	6264	 
		
	 ARTICLE VI Negative Covenants
	  	 	6264	 
			
	 SECTION 6.01.
	 	Liens	  	 	6264	 
	 SECTION 6.02.
	 	Consolidation, Merger, Sale, Etc.	  	 	6264	 
	 SECTION 6.03.
	 	Sale Leasebacks	  	 	6365	 
	 SECTION 6.04.
	 	Sale of Subsidiaries	  	 	6365	 
	 SECTION 6.05.
	 	Transactions with Affiliates	  	 	6365	 
	 SECTION 6.06.
	 	Investments	  	 	6365	 
	 SECTION 6.07.
	 	Use of Proceeds	  	 	6365	 
	 SECTION 6.08.
	 	Subsidiary Indebtedness	  	 	6466	 
		
	 ARTICLE VII Events of Default
	  	 	6466	 
		
	 ARTICLE VIII The Administrative Agent
	  	 	6870	 
			
	 SECTION 8.01.
	 	Authorization and Action	  	 	6870	 
	 SECTION 8.02.
	 	Administrative Agent’s Reliance, Indemnification, Etc	  	 	7076	 
	 SECTION 8.03.
	 	Posting of Communications	  	 	7173	 
	 SECTION 8.04.
	 	The Administrative Agent Individually	  	 	7279	 
	 SECTION 8.05.
	 	Successor Administrative Agent	  	 	7379	 
	 SECTION 8.06.
	 	Acknowledgements of Lenders and Issuing Banks	  	 	7379	 
	 SECTION 8.07.
	 	Certain ERISA Matters	  	 	7476	 
		
	 ARTICLE IX Miscellaneous
	  	 	7577	 
			
	 SECTION 9.01.
	 	Notices	  	 	7577	 
	 SECTION 9.02.
	 	Waivers; Amendments	  	 	7678	 

  
 ii 

 Table of Contents 

(continued) 
  

							
	 	 	 	  	Page	 
			
	 SECTION 9.03.
	 	Expenses; Indemnity; Damage Waiver	  	 	7885	 
	 SECTION 9.04.
	 	Successors and Assigns	  	 	8086	 
	 SECTION 9.05.
	 	Survival	  	 	8491	 
	 SECTION 9.06.
	 	Counterparts; Integration; Effectiveness; Electronic Execution	  	 	8492	 
	 SECTION 9.07.
	 	Severability	  	 	8592	 
	 SECTION 9.08.
	 	Right of Setoff	  	 	8588	 
	 SECTION 9.09.
	 	Governing Law; Jurisdiction; Consent to Service of Process	  	 	8588	 
	 SECTION 9.10.
	 	WAIVER OF JURY TRIAL	  	 	8689	 
	 SECTION 9.11.
	 	Headings	  	 	8689	 
	 SECTION 9.12.
	 	Confidentiality	  	 	8689	 
	 SECTION 9.13.
	 	USA PATRIOT Act	  	 	8790	 
	 SECTION 9.14.
	 	Releases of Subsidiary Guarantors	  	 	8790	 
	 SECTION 9.15.
	 	Interest Rate Limitation	  	 	8891	 
	 SECTION 9.16.
	 	No Advisory or Fiduciary Responsibility	  	 	8891	 
	 SECTION 9.17.
	 	Acknowledgement and Consent to Bail-In of EEAAffected Financial Institutions	  	 	8996	 
	 SECTION
9.18.
	 	Acknowledgement Regarding Any Supported QFCs	  	 	97	 

  
 iii 

 CREDIT AGREEMENT (this “Agreement”) dated as of December 20, 2018
among UNIVERSAL CORPORATION, the LENDERS from time to time party hereto, JPMORGAN CHASE BANK, N.A., as Administrative Agent, SUNTRUSTTRUIST BANK and AGFIRST FARM CREDIT BANK, as Co-Syndication Agents and KEYBANK NATIONAL ASSOCIATION and CAPITAL ONE, NATIONAL
ASSOCIATION as Co-Documentation Agents. 
 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 a Loan, or the Loans comprising such Borrowing, bearing
interest at a rate determined by reference to the Alternate Base Rate. 
 “ABR Loans” means, ABR Revolving Loans, ABR Term
A-1 Loans and ABR Term A-2 Loans. 
 “Account Designation Letter” means an account designation letter substantially in the
form of Exhibit K. 
 “Adjusted LIBO Rate” means, with respect to any Eurodollar Borrowing for any Interest Period, an
interest rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to (a) the LIBO Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate. 

“Administrative Agent” means JPMorgan Chase Bank, N.A., in its capacity as administrative agent for the Lenders hereunder.

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

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

“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” has the
meaning assigned to such term in the introductory paragraph. 
 “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 LIBO Rate for a
one month Interest Period in Dollars on 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 LIBO Rate for any day shall be based on
the LIBO Screen Rate (or if the LIBO Screen Rate is not available for such one month Interest Period, the Interpolated Rate) at approximately 11:00 a.m. London time on such day. Any change in the Alternate Base Rate due to a change in the Prime
Rate, the NYFRB Rate or the Adjusted LIBO Rate shall be effective from and including the 

 
effective date of such change in the Prime Rate, the NYFRB Rate or the Adjusted LIBO Rate, respectively. If the Alternate Base Rate is being used as an alternate rate of interest pursuant to
Section 2.14, 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 1.00%, such rate shall be deemed to be 1.00% for purposes of this Agreement. 
 “Amendment No. 1 Effective Date” means December 17, 2020. 

“Ancillary
 Document” has the meaning assigned to such term in Section 9.06. 

“Anti-Corruption Laws” means all laws, rules, and regulations of any jurisdiction applicable to the Borrower or its
Subsidiaries from time to time concerning or relating to bribery or corruption. 
 “Applicable Party” has the meaning
assigned to such term in Section 8.03(c). 
 “Applicable Percentage” means, with respect to any Lender, (a) with
respect to Revolving Loans, LC Exposure or Swingline Loans, the percentage equal to a fraction the numerator of which is such Lender’s Revolving Commitment and the denominator of which is the aggregate Revolving Commitments of all Revolving
Lenders (if the Revolving Commitments have terminated or expired, the Applicable Percentages shall be determined based upon the Revolving Commitments most recently in effect, giving effect to any assignments); provided that in the case of
Section 2.21 when a Defaulting Lender shall exist, any such Defaulting Lender’s Revolving Commitment shall be disregarded in the calculation, (b) with respect to the Term A-1 Loans, a percentage equal to a fraction the numerator of
which is such Lender’s outstanding principal amount of the Term A-1 Loans and the denominator of which is the aggregate outstanding principal amount of the Term A-1 Loans of all Term A-1 Lenders; provided that in the case of
Section 2.21 when a Defaulting Lender shall exist, any such Defaulting Lender’s Term A-1 Loan Commitment shall be disregarded in the calculation, and (c) with respect to the Term A-2 Loans, a percentage equal to a fraction the
numerator of which is such Lender’s outstanding principal amount of the Term A-2 Loans and the denominator of which is the aggregate outstanding principal amount of the Term A-2 Loans of all Term A-2 Lenders; provided that in the case of
Section 2.21 when a Defaulting Lender shall exist, any such Defaulting Lender’s Term A-2 Loan Commitment shall be disregarded in the calculation. 

“Applicable Rate” means, for any day, with respect to any Eurodollar Revolving Loan, any ABR Revolving Loan, any Eurodollar
Term A-1 Loan, any ABR Term A-1 Loan, any Eurodollar Term A-2 Loan, any ABR Term A-2 Loan or with respect to the facility fees payable hereunder, as the case may be, the applicable rate per annum set forth below under the caption “Eurodollar
Spread (Revolving Loans)”, “ABR Spread (Revolving Loans)”, “Eurodollar Spread (Term A-1 Loans)”, “ABR Spread (Term A-1 Loans)”, “Eurodollar Spread (Term A-2 Loans)”, “ABR Spread (Term A-2
Loans)” or “Facility Fee Rate”, as the case may be, based upon the Total Leverage Ratio applicable on such date: 
  

									
	 	  	 Total Leverage

Ratio
	  	Facility Fee
Rate	 	Eurodollar Spread
(Revolving
Loans)	 	ABR Spread
(Revolving Loans)
	 Category 1:
	  	< 1.25 to 1.00	  	0.25%	 	1.25%	 	0.25%
	 Category 2:
	  	 > 1.25 to 1.00 but

< 1.75 to 1.00
	  	0.30%	 	1.45%	 	0.45%
	 Category 3:
	  	 > 1.75 to 1.00 but

< 2.25 to 1.00
	  	0.35%	 	1.65%	 	0.65%
	 Category 4:
	  	> 2.25 to 1.00	  	0.40%	 	1.85%	 	0.85%

  
 2 

											
	 	  	 Total Leverage

Ratio
	  	Eurodollar Spread
(Term A-1 Loans)	 	ABR Spread
(Term A-1 Loans)	 	Eurodollar Spread
(Term A-2 Loans)	 	ABR Spread
(Term A-2 Loans)
	 Category 1:
	  	< 1.25 to 1.00	  	1.50%	 	0.50%	 	1.75%	 	0.75%
	 Category 2:
	  	 > 1.25 to 1.00 but

< 1.75 to 1.00
	  	1.75%	 	0.75%	 	2.00%	 	1.00%
	 Category 3:
	  	 > 1.75 to 1.00 but

< 2.25 to 1.00
	  	2.00%	 	1.00%	 	2.25%	 	1.25%
	 Category 4:
	  	> 2.25 to 1.00	  	2.25%	 	1.25%	 	2.75%	 	1.75%

 For purposes of the foregoing, 

(i) if at any time the Borrower fails to deliver the Financials on or before the date the Financials are due pursuant to
Section 5.01, Category 4 shall be deemed applicable for the period commencing three (3) Business Days after the required date of delivery and ending on the date that is three (3) Business Days after the Financials are actually
delivered, after which the Category shall be determined in accordance with the table above as applicable; 
 (ii)
adjustments, if any, to the Category then in effect shall be effective three (3) Business Days after the Administrative Agent has received the applicable Financials (it being understood and agreed that each change in Category shall apply during
the period commencing on the effective date of such change and ending on the date immediately preceding the effective date of the next such change); and 

(iii) notwithstanding the foregoing, Category 1 shall be deemed to be applicable until the Administrative Agent’s receipt
of the applicable Financials for the Borrower’s fiscal quarter ending on or about December 31, 2018 and adjustments to the Category then in effect shall thereafter be effected in accordance with the preceding paragraphs; provided,
however, that if any Financials demonstrate that Category 2, 3 or 4 would be applicable pursuant to the paragraph above, then Category 2, 3 or 4, as the case may be, shall be applicable in accordance with the paragraph above. 

“Approved Electronic Platform” has the meaning assigned to such term in Section 8.03(a). 

“Approved Fund” has the meaning assigned to such term in Section 9.04. 

“Arranger” means each of JPMorgan Chase Bank, N.A., AgFirst Farm Credit Bank and SunTrust Robinson HumphreyTruist Securities,
Inc. in its capacity as a joint bookrunner and a joint lead arranger hereunder. 
 “Assignment and Assumption” means an
assignment and assumption agreement entered into by a Lender and an assignee (with the consent of any party whose consent is required by Section 9.04), and accepted by the Administrative Agent, in the form of Exhibit A or any other form
(including electronic records generated by the use of an electronic platform) approved by the Administrative Agent. 
 “Augmenting
Lender” has the meaning assigned to such term in Section 2.20. 

  
 3 

 “Availability Period” means the period from and including the Effective
Date to but excluding the earlier of the Revolving/TLA-1 Maturity Date and the date of termination of the Revolving Commitments pursuant hereto. 

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

“Banking Services” means each and any of the following bank services provided to the Borrower or any Subsidiary by any Lender
or any of its Affiliates: (a) credit cards for commercial customers (including, without limitation, commercial credit cards and purchasing cards), (b) stored value cards and (c) treasury management services (including, without
limitation, controlled disbursement, automated clearinghouse transactions, return items, overdrafts and interstate depository network services). 

“Banking Services Agreement” means any agreement entered into by the Borrower or any Subsidiary in connection with Banking
Services. 
 “Bankruptcy Event” means, with respect to any Person, the occurrence of any of the following with respect to
such Person: (i) a court or governmental agency having jurisdiction in the premises shall (A) enter a decree or order for relief in respect of such Person in an involuntary case under any applicable bankruptcy, insolvency, or other similar
law now or hereafter in effect, or (B) appoint a receiver, liquidator, assignee, custodian, trustee, sequestrator, or similar official of such Person or for any substantial part of its Property, or (C) order the winding up or liquidation
of its affairs; (ii) there shall be commenced against such Person (A) an involuntary case under any applicable bankruptcy, insolvency, or other similar law now or hereafter in effect, or (B) any case, proceeding, or other action for
the appointment of a receiver, liquidator, assignee, custodian, trustee, sequestrator, or similar official of such Person or for any substantial part of its Property, or for the winding up or liquidation of its affairs, and such involuntary case or
other case, proceeding, or other action shall remain undismissed, undischarged, or unbonded for a period of sixty (60) consecutive days; or (iii) (A) such Person shall (w) commence a voluntary case under any applicable
bankruptcy, insolvency, or other similar law now or hereafter in effect, (x) consent to the entry of an order for relief in an involuntary case under any such law, (y) consent to the appointment or taking possession, by a receiver,
liquidator, assignee, custodian, trustee, sequestrator, or similar official of such Person of any substantial part of its Property, or (z) make any general assignment for the benefit of creditors, or (B) the board of directors of such
Person shall authorize such Person to take any of the actions set forth in subsection (A); or (iv) such Person shall be unable to, or shall admit in writing its inability to, pay its debts generally as they become due. 

“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. 

  
 4 

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

“BHC
Act Affiliate” of a party means an “affiliate” (as such term is defined under, and interpreted in accordance with, 12 U.S.C. 1841(k)) of such party. 

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

“Borrower” means Universal Corporation, a Virginia corporation. 

“Borrowing” means (a) Revolving Loans of the same Type, made, converted or continued on the same date and, in the case
of Eurodollar Loans, as to which a single Interest Period is in effect, (b) a Term Loan of the same Type and Class, made, converted or continued on the same date and, in the case of Eurodollar Loans, as to which a single Interest Period is in
effect or (c) a Swingline Loan. 
 “Borrowing Request” means a request by the Borrower for a Borrowing in accordance
with Section 2.03. 
 “Business Day” means any day that is not a Saturday, Sunday or other day on which commercial
banks in New York City are authorized or required by law to remain closed; provided that, when used in connection with a Eurodollar Loan, the term “Business Day” shall also exclude any day on which banks are not open for
dealings in Dollars in the London interbank market. 
 “Capital Lease” means, as applied to any Person, any lease of any
Property (whether real, personal, or mixed) by that Person as lessee that, in accordance with GAAP, is or should be accounted for as a capital lease on the balance sheet of that Person. 

“Capital Stock” means (i) in the case of a corporation, capital stock, (ii) in the case of an association or
business entity, any and all shares, interests, participations, rights, or other equivalents (however designated) of capital stock, (iii) in the case of a partnership, partnership interests (whether general or limited), (iv) in the case of
a limited liability company, membership interests, and (v) any other interest or participation that confers on a Person the right to receive a share of the profits and losses of, or distribution of assets of, the issuing Person. 

“Change in Law” means the occurrence, after the date of this Agreement (or with respect to any Lender, if later, the date on
which such Lender becomes a Lender), of any of the following: (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation,
implementation or application thereof by any Governmental Authority, or (c) the making or issuance of any request, rules, guideline, requirement or directive (whether or not having the force of law) by any Governmental Authority;
provided however, that notwithstanding anything herein to the contrary, (i) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines, requirements and directives thereunder, issued in
connection therewith or in implementation thereof, and (ii) all requests, rules, guidelines, requirements and directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or
similar authority) or the United States or foreign regulatory 

  
 5 

 “Connection Income Taxes” means Other Connection Taxes that are imposed on
or measured by net income (however denominated) or that are franchise Taxes or branch profits Taxes. 
 “Consolidated Accumulated
Other Comprehensive Income” means, for the Consolidated Group, at any time, the accumulated change in shareholders’ equity of the Borrower caused by the recognition of other comprehensive income as defined in accordance with GAAP
applied on a consistent basis. 
 “Consolidated Average Committed Inventory” means the quotient obtained by dividing (i)
the sum of the Committed Inventory of the Consolidated Group as of the end of each of the preceding four fiscal quarters by (ii) four (4). 

“Consolidated Average Customer Advances and Deposits” means the quotient obtained by dividing (i) the sum of the
Customer Advances and Deposits of the Consolidated Group as of the end of each of the preceding four fiscal quarters by (ii) four (4). 

“Consolidated Average Total Indebtedness” means the quotient obtained by dividing (i) the sum of the total Indebtedness
of the Consolidated Group as of the end of the preceding four fiscal quarters by (ii) four (4). 
 “Consolidated
EBITDA” means, for any fiscal period of the Borrower, the sum of (i) Consolidated Net Income for such period, plus (ii) the aggregate amount of the depreciation expense and amortization expense for such period to the extent
deducted in determining Consolidated Net Income, plus (iii) the consolidated income tax expense for such period deducted in determining Consolidated Net Income, plus (iv) the interest expense for such period (including,
without limitation, the interest component of payments under Capital Leases) deducted in determining Consolidated Net Income, minus (v) any extraordinary items of non-recurring gain included in Consolidated Net Income for such period,
minus (vi) any minority interests, plus (vii) an add-back for potential impairment, restructuring charges or any extraordinary and non-recurring non-cash charges, in each case, as determined in accordance with GAAP plus, (viii) out-of-pocket fees and expenses incurred during such period directly in connection with (1) Amendment No. 1 to
this Agreement dated as of December 17, 2020 or (2) any Material Acquisition or Material Disposition plus (ix) an add-back for non-cash charges related to the Borrower’s
stock compensation plan determined for the Consolidated Group on a consolidated basis in accordance with GAAP. Notwithstanding the foregoing,
(1) Consolidated EBITDA shall include those
amounts of income tax expense, interest expense and depreciation and amortization expense netted into one line item on the income statement of the Borrower as a result of reporting “discontinued operations” on such income statement. and (2) to the extent included in Consolidated Net
Income for such period, Consolidated EBITDA shall exclude the effects of any non-cash purchase
accounting adjustments (including the effects of such adjustments pushed down to such person and its subsidiaries) in component amounts required or permitted by GAAP, resulting from the application of purchase accounting in relation to any
consummated acquisition or the amortization or write-off of any amounts thereof, net of taxes. For the purposes of calculating Consolidated EBITDA for any period of four consecutive fiscal quarters (each such period, a “Reference Period”),
(i) if at any time during such Reference Period the Borrower or any Subsidiary shall have made any Material Disposition, the Consolidated EBITDA for such Reference Period shall be reduced by an amount equal to the Consolidated EBITDA (if
positive) attributable to the property that is the subject of such Material Disposition for such Reference Period or increased by an amount equal to the Consolidated EBITDA (if negative) attributable thereto for such Reference Period, and
(ii) if during such Reference Period the Borrower or any Subsidiary shall have made a Material Acquisition, Consolidated EBITDA for such Reference Period shall be calculated after giving effect thereto on a Pro Forma Basis as if such Material Acquisition occurred on the first day of such Reference
Period. 

  
 7 

 “Consolidated Group” means the Borrower and its consolidated subsidiaries
as determined in accordance with GAAP. 
 “Consolidated Net Income” means for any period for the Consolidated Group, net
income on a consolidated basis determined in accordance with GAAP applied on a consistent basis. 
 “Consolidated Tangible Net
Worth” means, for the Consolidated Group at any time, Consolidated Total Tangible Assets, minus Consolidated Total Liabilities, plus the Consolidated Accumulated Other Comprehensive Income that results in a reduction to
shareholders’ equity, if any, and minus the Consolidated Accumulated Other Comprehensive Income that results in an increase to shareholders’ equity, if any, as determined on a consolidated basis in accordance with GAAP applied on a
consistent basis; provided that notwithstanding the foregoing, no “right of use” asset or similar intangible that would have been accrued rental lease expense under GAAP as in effect on the Effective Date shall be subtracted in
determining “Consolidated Tangible Net Worth”. 
 “Consolidated Total Indebtedness” means, for the Consolidated
Group at any time, (a) Consolidated Average Total Indebtedness minus (b) fifty percent (50%) of Consolidated Average Committed Inventory plus (c) fifty percent (50%) of Consolidated Average Customer Advances
and Deposits. 
 “Consolidated Total Liabilities” means for the Consolidated Group at any time, total liabilities
determined on a consolidated basis in accordance with GAAP applied on a consistent basis. 
 “Consolidated Total Tangible
Assets” means, for the Consolidated Group at any time, consolidated total assets minus (i) goodwill and (ii) other items properly classified as “intangible assets”, in each case as determined on a consolidated basis in
accordance with GAAP applied on a consistent basis. 
 “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. The terms “Controlling” and “Controlled” have meanings correlative
thereto. 
 “Co-Syndication Agent” means each of
SunTrustTruist
 Bank and AgFirst Farm Credit Bank in its capacity as a co-syndication agent for the credit facilities evidenced by this
Agreement. 

“Covered
 Entity” means any of the following: 
 (i) a
“covered entity” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 252.82(b); 

(ii)
a “covered bank” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 47.3(b);
or 

(iii)
a “covered FSI” as that term is defined in, and interpreted in accordance with, 12 C.F.R. §
382.2(b). 

“Covered
 Party” has the meaning assigned to it in Section 9.18. 

  
 8 

 “Credit Event” means a Borrowing, the issuance, amendment, renewal or extension of a Letter of Credit, an LC Disbursement or any of the foregoing. 

“Credit Exposure” means, as to any Lender at any time, the sum of (a) such Lender’s Revolving Credit Exposure at
such time, plus (b) an amount equal to the aggregate principal amount of its Term Loans outstanding at such time. 
 “Credit
Party” means the Administrative Agent, any Issuing Bank, the Swingline Lender or any other Lender. 
 “Customer Advances
and Deposits” means funds received by the Borrower from customers that are recorded as “Customer Advances and Deposits” on the Borrower’s financial statements. 

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

“Default
 Right” has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable. 

“Defaulting Lender” means any Lender that (a) has failed, within two (2) Business Days of the date required to be
funded or paid, to (i) fund any portion of its Loans, (ii) fund any portion of its participations in Letters of Credit or Swingline Loans or (iii) pay over to any Credit Party any other amount required to be paid by it hereunder,
unless, in the case of clause (i) above, such Lender notifies the Administrative Agent in writing that such failure is the result of such Lender’s good faith determination that a condition precedent to funding set forth in Article IV of
this Agreement (specifically identified and including the particular default, if any) has not been satisfied, (b) has notified the Borrower or any Credit Party 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 such Lender’s good faith determination that a condition precedent set forth in Article
IV of this Agreement (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 (3) Business Days after request by a Credit Party, acting in good faith, to provide a certification in writing from an authorized officer of such Lender that it will comply with its obligations (and is financially able to meet such
obligations as of the date of certification) to fund prospective Loans and participations in then outstanding Letters of Credit and Swingline Loans under this Agreement, provided that such Lender shall cease to be a Defaulting Lender pursuant to
this clause (c) upon such Credit Party’s receipt of such certification in form and substance reasonably satisfactory to it and the Administrative Agent, or (d) has become the subject of (i) a Bankruptcy Event or (ii) a
Bail-In Action; provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or indirect parent company thereof by a Governmental Authority
so long as such ownership interest does not result in or provide such Lender 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 permit such Lender (or
such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender. 

“Dollars” or “$” refers to lawful money of the United States of America. 

  
 9 

 “Issuing Bank” means JPMorgan Chase Bank, N.A., AgFirst Farm Credit Bank,
SunTrustTruist Bank and each other
Lender designated by the Borrower as an “Issuing Bank” hereunder that has agreed to such designation (and is reasonably acceptable to the Administrative Agent), each in its capacity as the issuer of Letters of Credit hereunder, and its
successors in such capacity as provided in Section 2.06(i). Each Issuing Bank may, in its discretion, arrange for one or more Letters of Credit to be issued by Affiliates of such Issuing Bank (so long as, in the case of any Letter of Credit,
the named beneficiary of such Letter of Credit has approved such Affiliate), in which case the term “Issuing Bank” shall include any such Affiliate with respect to Letters of Credit issued by such Affiliate. Each reference herein to the
“Issuing Bank” in connection with a Letter of Credit or other matter shall be deemed to be a reference to the relevant Issuing Bank with respect thereto, and, further, references herein to “the Issuing Bank” shall be deemed to
refer to each of the Issuing Banks or the relevant Issuing Bank, as the context requires. 
 “LC Collateral Account” has
the meaning assigned to such term in Section 2.06(j). 
 “LC Disbursement” means a payment made by an Issuing Bank
pursuant to a Letter of Credit. 
 “LC Exposure” means, at any time, the sum of (a) the aggregate undrawn amount of
all outstanding Letters of Credit at such time plus (b) the aggregate amount of all LC Disbursements that have not yet been reimbursed by or on behalf of the Borrower at such time. The LC Exposure of any Revolving Lender at any time shall be
its Applicable Percentage of the total LC Exposure at such time. For all purposes of this Agreement, if on any date
of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Article 29(a) of the Uniform Customs and Practice for Documentary Credits, International Chamber of Commerce
Publication No. 600 (or such later version thereof as may be in effect at the applicable time) or Rule 3.13 or Rule 3.14 of the International Standby Practices, International Chamber of Commerce Publication No. 590 (or such later version
thereof as may be in effect at the applicable time) or similar terms of the Letter of Credit itself, or if compliant documents have been presented but not yet honored, such Letter of Credit shall be deemed to be “outstanding” and
“undrawn” in the amount so remaining available to be paid, and the obligations of the Borrower and each Lender shall remain in full force and effect until the applicable Issuing Bank and the Lenders shall have no further obligations to
make any payments or disbursements under any circumstances with respect to any Letter of Credit. 

“Lender-Related
 Person” has the meaning assigned to such term in Section 9.03(d). 

“Lenders” means the Persons listed on Schedule 2.01A and any other Person that shall have become a Lender hereunder
pursuant to Section 2.20 or pursuant to an Assignment and Assumption, other than any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption. Unless the context otherwise requires, the term “Lenders”
includes the Swingline Lender. 
 “Letter of Credit” means any letter of credit issued pursuant to this Agreement. 

“Letter of Credit Agreement” has the meaning assigned to such term in Section 2.06(b). 

“Letter of Credit Commitment” means, with respect to each Issuing Bank, the commitment of such Issuing Bank to issue Letters
of Credit hereunder. The initial amount of each Issuing Bank’s Letter of Credit Commitment is set forth on Schedule 2.01B, or if an Issuing Bank has entered into an Assignment and Assumption or has otherwise assumed a Letter of Credit
Commitment after the Effective Date, the amount set forth for such Issuing Bank as its Letter of Credit Commitment in the Register maintained by the Administrative Agent. The Letter of Credit Commitment of an Issuing Bank may be modified from time
to time by agreement between such Issuing Bank and the Borrower, and notified to the Administrative Agent. 

  
 15 

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

“LIBO Rate” means, with respect to any Eurodollar Borrowing for any Interest Period, the LIBO Screen Rate at approximately
11:00 a.m., London time, two (2) Business Days prior to the commencement of such Interest Period; provided that if the LIBO Screen Rate shall not be available at such time for such Interest Period (an “Impacted Interest
Period”) then the LIBO Rate shall be the Interpolated Rate. 
 “LIBO Screen Rate” means, for any day and time,
with respect to any Eurodollar Borrowing for any Interest Period, the London interbank offered rate as administered by ICE Benchmark Administration (or any other Person that takes over the administration of such rate) for Dollars for a period equal
in length to such Interest Period as displayed on such day and time on pages LIBOR01 or LIBOR02 of the Reuters screen that displays such rate (or, in the event such rate does not appear on a Reuters page or screen, on any successor or substitute
page on such screen that displays such rate, or on the appropriate page of such other information service that publishes such rate from time to time as selected by the Administrative Agent in its reasonable discretion); provided that if the
LIBO Screen Rate as so determined would be less than zero, such rate shall be deemed to be zero for the purposes of this Agreement. 

“Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement, security interest, encumbrance, lien
(statutory or otherwise), preference, priority, or charge of any kind (including any conditional sale or other title retention agreement, and any financing lease having substantially the same effect as any of the foregoing). 

“Loan Documents” means this Agreement, any promissory notes issued pursuant to Section 2.10(e) of this Agreement, any
Letter of Credit applications, any Letter of Credit Agreement, any agreements between the Borrower and an Issuing Bank regarding such Issuing Bank’s Letter of Credit Commitment or the respective rights and obligations between the Borrower and
such Issuing Bank in connection with the issuance of Letters of Credit, any Subsidiary Guaranty, the Fee Letter and any agreement or supplement executed by a Loan Party pursuant to Section 5.09. Any reference in this Agreement or any other Loan
Document to a Loan Document shall include all appendices, exhibits, or schedules thereto, and all amendments, restatements, supplements, or other modifications thereto, and shall refer to this Agreement or such Loan Document as the same may be in
effect at any and all times such reference becomes operative. 
 “Loan Parties” means, collectively, the Borrower and the
Subsidiary Guarantors. 
 “Loans” means the loans made by the Lenders to the Borrower pursuant to this Agreement. 

“Material
 Acquisition” means any acquisition of property or series of related acquisitions of property that (a) constitutes (i) assets comprising all or substantially all or any significant portion of a business or operating unit of a
business, or (ii) all or substantially all of the common stock or other equity interests of a Person, and (b) involves the payment of consideration by the Borrower and its Subsidiaries in excess of $25,000,000. 

  
 16 

 “Material Adverse Effect” means a material adverse effect on (a) the
business, assets, operations or financial condition of the Borrower and its Subsidiaries taken as a whole, (b) the ability of the Borrower to perform any of its obligations under this Agreement or (c) the validity or enforceability of any
of the Loan Documents or the rights or remedies of the Administrative Agent and the Lenders thereunder. 
 “Material Disposition” means any sale, transfer or disposition of property or series of related sales,
transfers, or dispositions of property that yields gross proceeds to the Company or any of its Subsidiaries in excess of $25,000,000. 

“Material Domestic Subsidiary” means any Domestic Subsidiary that owns unencumbered operating assets as of the Effective Date
or as of the end of the most recent fiscal year thereafter in excess of ten percent (10%) of the Consolidated Total Tangible Assets. In making the foregoing determination, the percentage ownership interest in a Subsidiary held by the Borrower
or any of its Subsidiaries shall be applied to the value of unencumbered operating assets held by such Subsidiary and the resulting value shall be used to determine the percentage of the Consolidated Total Tangible Assets held by such Subsidiary.

 “Materials of Environmental Concern” means any gasoline or petroleum (including crude oil or any fraction thereof) or
petroleum products or any hazardous or toxic substances, materials, or wastes, defined or regulated as such in or under any Environmental Law, including, without limitation, asbestos, polychlorinated biphenyls, and urea-formaldehyde insulation. 

“Maturity Date” means the Revolving/TLA-1 Maturity Date or the TLA-2 Maturity Date, as the context requires. 

“Maximum Rate” has the meaning assigned to such term in Section 9.15. 

“Multiemployer Plan” means a Plan that is a multiemployer plan as defined in Sections 3(37) or 4001(a)(3) of ERISA that is
subject to Title IV of ERISA. 
 “Multiple Employer Plan” means a Plan that the Borrower, any Subsidiary of the Borrower,
or any ERISA Affiliate and at least one employer other than the Borrower, any Subsidiary of the Borrower or any ERISA Affiliate are contributing sponsors. 

“Non-Consenting Lender” has the meaning assigned to such term in Section 9.02(d). 

“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., New York City time, 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 would be less than zero, such rate shall be deemed to be zero for purposes of this Agreement. 

“Non-U.S. Lender” means a Lender that is not a U.S. Person. 

  
 17 

 “Plan Asset Regulations” means 29 CFR § 2510.3-101 et seq., as
modified by Section 3(42) of ERISA, as amended from time to time. 
 “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 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 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. 
 “Pro Forma Basis” means, with respect to any event, that the Borrower is in compliance on a
pro forma basis with the applicable covenant, calculation or requirement herein recomputed as if the event with respect to which compliance on a Pro Forma Basis is being tested had occurred on the first day of the four fiscal quarter period
most recently ended on or prior to such date for which financial statements have been delivered pursuant to Section 5.01. 

“Property” means any interest in any kind of property or asset, whether real, personal, or mixed, or tangible or intangible.

“QFC”
 has the meaning assigned to the term “qualified financial contract” in, and shall be interpreted in accordance with, 12 U.S.C. 5390(c)(8)(D). 

“QFC
Credit Support” has the meaning assigned to it in Section 9.18. 

“Recipient” means, as applicable, (a) the Administrative Agent, (b) any Lender and (c) any Issuing Bank. 

“Register” has the meaning set forth in Section 9.04. 

“Regulation T, U, or X” means Regulation T, U, or X, respectively, of the Board the Federal Reserve System as from time to
time in effect and any successor to all or a portion thereof. 
 “Related Parties” means, with respect to any specified
Person, such Person’s Affiliates and the respective directors, officers, employees, agents and advisors of such Person and such Person’s Affiliates. 

“Reportable Event” means any of the events set forth in Section 4043(c) of ERISA, other than those events as to which
the notice requirement has been waived by regulation. 
 “Required Lenders” means, subject to Section 2.21, at any
time, Lenders having Credit Exposures (provided, that, as to any Lender, clause (a) of the definition of “Swingline Exposure” shall only be applicable in calculating a Lender’s Revolving Credit Exposure to the extent such Lender
shall have funded its respective participations in the outstanding Swingline Loans) and Unfunded Commitments representing more than 50% of the sum of the total Credit Exposures and Unfunded Commitments 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 Revolving Commitments expire or terminate, then, as to each Lender, the Unfunded
Commitment of each Lender shall be deemed to be zero. 

  
 21 

 “Required Revolving Lenders” means, subject to Section 2.21, at any
time, Revolving Lenders having Revolving Credit Exposures (provided, that, as to any Lender, clause (a) of the definition of “Swingline Exposure” shall only be applicable in calculating a Lender’s Revolving Credit Exposure to the
extent such Lender shall have funded its respective participations in the outstanding Swingline Loans) and Unfunded Commitments representing more than 50% of the sum of the Total Revolving Credit Exposure and Unfunded Commitments at such time. 

“Requirement of Law” means, as to any Person, the certificate of incorporation and by-laws or other organizational or
governing documents of such Person, and any law, treaty, rule or regulation, or determination of an arbitrator or a court or other Governmental Authority, in each case applicable to and binding upon such Person or to which any of its material
property is subject. 

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

“Responsible Officer” means any of the Chief Financial Officer, the Controller, any Vice President, and the Treasurer. 

“Reuters”
 means Thomson Reuters Corp., Refinitiv or any successor thereto. 

“Revolving Commitment” means, with respect to each Lender, the commitment, if any, to make Revolving Loans and to acquire
participations in Letters of Credit and Swingline Loans hereunder, expressed as an amount representing the maximum aggregate amount of such Lender’s Revolving Credit Exposure hereunder, as such commitment may be (a) reduced or terminated
from time to time pursuant to Section 2.09, (b) increased from time to time pursuant to Section 2.20 and (c) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 9.04. The
initial amount of each Lender’s Revolving Commitment is set forth on Schedule 2.01A, or in the applicable documentation pursuant to which such Lender shall have assumed its Revolving Commitment pursuant to the terms hereof, as
applicable. The initial aggregate amount of the Revolving Lenders’ Revolving Commitments as of the Effective Date is $430,000,000. 

“Revolving Credit Exposure” means, with respect to any Lender at any time, the sum of the outstanding principal amount of
such Lender’s Revolving Loans and its LC Exposure and Swingline Exposure at such time. 
 “Revolving Credit Facility”
means the revolving credit facility provided hereunder by the Revolving Lenders pursuant to the Revolving Commitments. 
 “Revolving
Lender” means, as of any date of determination, each Lender that has a Revolving Commitment or, if the Revolving Commitments have terminated or expired, a Lender with Revolving Credit Exposure. 

“Revolving Loan” means a Loan made pursuant to Section 2.01(a). 

“Revolving/TLA-1 Maturity Date” means December 20, 2023; provided, however, if such date is not a Business
Day, the Revolving/TLA-1 Maturity Date shall be the next preceding Business Day. time to time to any Lender under such Regulation D of the Board or any comparable regulation. The Statutory Reserve Rate shall be adjusted automatically on and as of
the effective date of any change in any reserve percentage. 

  
 22 

 “Subordinated Indebtedness” means any Indebtedness of the Borrower or any
Subsidiary the payment of which is subordinated to payment of the obligations under the Loan Documents. 
 “Subsidiary”
means, as to any Person, a corporation, partnership, limited liability company, or other entity of which shares of stock or other ownership interests having ordinary voting power to elect a majority of the directors or other managers of such
corporation, partnership, limited liability company, or other entity (irrespective of whether or not at the time, any class or classes of such corporation shall have or might have voting power by reason of the happening of any contingency) are at
the time owned by such Person directly or indirectly through Subsidiaries. Unless otherwise identified, “Subsidiary” or “Subsidiaries” shall mean Subsidiaries of the Borrower. 

“Subsidiary Guarantor” means each Material Domestic Subsidiary that is a party to the Subsidiary Guaranty. There are no
Subsidiary Guarantors on the Effective Date. 
 “Subsidiary Guaranty” means that certain Guaranty in the form of Exhibit
H (including any and all supplements thereto) and executed by each Subsidiary Guarantor, as amended, restated, supplemented or otherwise modified from time to time. 

“Support Obligations” means, with respect to any Person, without duplication, any obligations of such Person (other than
indemnities and endorsements in the ordinary course of business of negotiable instruments for deposit or collection) guaranteeing or intended to guarantee any Indebtedness of any other Person in any manner, whether direct or indirect, and including
without limitation any obligation, whether or not contingent, (i) to purchase any such Indebtedness or any Property constituting security therefor, (ii) to lease or purchase Property, securities, or services primarily for the purpose of
assuring the holder of such Indebtedness, or (iii) to otherwise assure or hold harmless the holder of such Indebtedness against loss in respect thereof. The amount of any Support Obligation hereunder shall (subject to any limitations set forth
therein) be deemed to be an amount equal to the outstanding principal amount of the Indebtedness in respect of which such Support Obligation is made. 

“Supported
 QFC” has the meaning assigned to it in Section 9.18. 
 “Swap
Agreement” means any agreement with respect to any swap, forward, future or derivative transaction or option or similar agreement involving, or settled by reference to, one or more interest rates, currencies, commodities, equity or debt
instruments or securities, or economic, financial or pricing indices or measures of economic, financial or pricing risk or value or any similar transaction or any combination of these transactions; provided that no phantom stock or similar
plan providing for payments only on account of services provided by current or former directors, officers, employees or consultants of the Borrower or the Subsidiaries shall be a Swap Agreement. 

“Swingline Exposure” means, at any time, the aggregate principal amount of all Swingline Loans outstanding at such time. The
Swingline Exposure of any Lender at any time shall be the sum of (a) its Applicable Percentage of the total Swingline Exposure at such time, other than with respect to any Swingline Loans made by such Lender in its capacity as a Swingline
Lender, and (b) the aggregate principal amount of all Swingline Loans made by such Lender as a Swingline Lender outstanding at such time (less the amount of participations funded by the other Revolving Lenders in such Swingline Loans). 

  
 24 

 “Swingline Lender” means JPMorgan Chase Bank, N.A., in its capacity as
lender of Swingline Loans hereunder. 
 “Swingline Loan” means a Loan made pursuant to Section 2.05. 

“Taxes” means all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding),
assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 

“Term A-1 Lender” means, as of any date of determination, subject to Section 2.01(b), each Lender having a Term A-1
Loan Commitment or that holds Term A-1 Loans. 
 “Term A-1 Loan Commitment” means, subject to Section 2.01(b), (a) as to any Term A-1
Lender, the aggregate commitment of such Term A-1 Lender to make Term A-1 Loans as set forth on Schedule 2.01A or in the most recent Assignment Agreement or other documentation contemplated hereby executed by such Term A-1 Lender and
(b) as to all Term A-1 Lenders, the aggregate commitments of all Term A-1 Lenders to make Term A- 1 Loans, which aggregate commitments shall be $150,000,000 as of the Effective Date. After advancing the Term A-1 Loan, each reference to a Term
A-1 Lender’s Term A-1 Loan Commitment shall refer to that Term A-1 Lender’s Applicable Percentage of the Term A-1 Loans. 

“Term A-1 Loan Facility” means the term loan facility provided hereunder by the Term A-1 Lenders pursuant to the Term A-1
Loan Commitments. 
 “Term A-1 Loans”
means, subject to Section 2.01(b), the Term A- 1 Loan
made pursuant to Section 2.01(a)(ii) on the
Effective Date and the Term A-1 2020 Loan made pursuant to Section 2.01(a)(iv) on the Amendment No. 1 Effective
Date. 

“Term A-1
 2020 Lender” means, as of any date of determination each Lender having a Term A-1 2020 Loan Commitment or that holds Term A-1 2020 Loans. 

“Term A-1
 2020 Loan Commitment” means (a) as to any Term A-1 2020 Lender, the aggregate commitment of such Term A-1 2020 Lender to make Term A-1 2020 Loans as set forth on Schedule 2.01A or in the most recent Assignment Agreement or other
documentation contemplated hereby executed by such Term A-1 2020 Lender and (b) as to all Term A-1 2020 Lenders, the aggregate commitments of all Term A-1 2020 Lenders to make Term A-1 2020 Loans, which aggregate commitments shall be
$75,000,000 as of the Amendment No. 1 Effective Date. 
 “Term A-1 2020 Loans” means the Term A-1 2020 Loan made pursuant to Section 2.01(a)(iv) on the Amendment
No. 1 Effective Date. 
 “Term A-2 Lender” means, as
of any date of determination, subject to
Section 2.01(c), each Lender having a Term A-2 Loan Commitment or that holds Term A-2 Loans. 

“Term A-2 Loan Commitment”
means, subject to Section 2.01(c), (a) as to any
Term A-2 Lender, the aggregate commitment of such Term A-2 Lender to make Term A-2 Loans as set forth on Schedule 2.01A or in the most recent Assignment Agreement or other documentation contemplated hereby executed by such Term A-2 Lender and
(b) as to all Term A-2 Lenders, the aggregate commitments of all Term A-2 Lenders to make Term A- 2 Loans, which aggregate commitments shall be $220,000,000 as of the Effective Date. After advancing the Term A-2 Loan, each reference to a Term
A- 2 Lender’s Term A-2 Loan Commitment shall refer to that Term A-2 Lender’s Applicable Percentage of the Term A-2 Loans. 

  
 25 

 “Term A-2 Loan Facility” means the term loan facility provided hereunder by
the Term A-2 Lenders pursuant to the Term A-2 Loan Commitments. 
 “Term A-2 Loans” means, subject to Section 2.01(c), the Term A-2 Loan made
pursuant to Section 2.01(a)(iii) on the
Effective Date and the Term A-2 2020 Loan made pursuant to Section 2.01(a)(v) on the Amendment No.1 Effective
Date. 

“Term A-2
 2020 Lender” means, as of any date of determination each Lender having a Term A-2 2020 Loan Commitment or that holds Term A-2 2020 Loans. 

“Term A-2
 2020 Loan Commitment” means (a) as to any Term A-2 2020 Lender, the aggregate commitment of such Term A-2 2020 Lender to make Term A-2 2020 Loans as set forth on Schedule 2.01A or in the most recent Assignment Agreement or other
documentation contemplated hereby executed by such Term A-2 2020 Lender and (b) as to all Term A-2 2020 Lenders, the aggregate commitments of all Term A-2 2020 Lenders to make Term A-2 2020 Loans, which aggregate commitments shall be
$75,000,000 as of the Amendment No. 1 Effective Date. 
 “Term A-2 2020 Loans” means the Term A-2 2020 Loan made pursuant to Section 2.01(a)(v) on the Amendment
No. 1 Effective Date. 
 “Term Lender” means a Term
A-1 Lender or a Term A-2 Lender or both, as the context requires. 
 “Term Loan Commitment” means, subject to Section 2.01(b) and Section 2.01(c), the
Term A-1 Loan Commitment or the Term A-2 Loan Commitment or both, as the context requires. 
 “Term Loans” means
(i) the Term A-1 LoanLoans,
(ii) the Term A-2 LoanLoans
and (ii) the Incremental Term Loans made pursuant to Section 2.20 on the applicable Increase Effective Date. 
 “TLA-2
Maturity Date” means December 20, 2025; provided, however, if such date is not a Business Day, the TLA-2 Maturity Date shall be the next preceding Business Day. 

“Total Leverage Ratio” has the meaning assigned to such term in Section 5.07(a). 

“Total Revolving Credit Exposure” means, at any time, the sum of the outstanding principal amount of all Revolving
Lenders’ Revolving Loans, their LC Exposure and their Swingline Exposure at such time; provided, that clause (a) of the definition of “Swingline Exposure” shall only be applicable to the extent Revolving Lenders shall have
funded their respective participations in the outstanding Swingline Loans. 
 “Transactions” means the execution, delivery
and performance by the Loan Parties of this Agreement and the other Loan Documents, the borrowing of Loans and other credit extensions, the use of the proceeds thereof and the issuance of Letters of Credit hereunder. 

“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 LIBO Rate or the Alternate Base Rate. 

  
 26 

“UK
Financial Institution” means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from 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. 

“U.S. Person” means a “United States person” within the meaning of Section 7701(a)(30) of the Code. 

“U.S. Special
 Resolution Regime” has the meaning assigned to it in Section 9.18. 

“U.S. Tax Certificate” has the meaning assigned to such term in Section 2.17(f)(ii)(D)(2). 

“Unfunded Commitment” means, with respect to each Lender, the Revolving Commitment of such Lender less its Revolving Credit
Exposure; provided, that, as to any Lender, clause (a) of the definition of “Swingline Exposure” shall only be applicable in calculating a Lender’s Revolving Credit Exposure to the extent such Lender shall have funded
its respective participations in the outstanding Swingline Loans. 
 “Voting Stock” means, with respect to any Person,
Capital Stock issued by such Person the holders of which are ordinarily, in the absence of contingencies, entitled to vote for the election of directors (or persons performing similar functions) of such Person, even though the right so to vote has
been suspended by the happening of such a contingency. 
 “Withholding Agent” means any Loan Party and the Administrative
Agent. 
 “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. 

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 “Eurodollar Loan”) or by Class and Type (e.g., a “Eurodollar Revolving Loan”). Borrowings also may be classified and referred to
by Class (e.g., a “Revolving Borrowing”) or by Type (e.g., a “Eurodollar Borrowing”) or by Class and Type (e.g., a “Eurodollar Revolving Borrowing”). 

  
 27 

 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”. The word “law” shall be construed as referring to
all statutes, rules, regulations, codes and other laws (including official rulings and interpretations thereunder having the force of law or with which affected Persons customarily comply), and all judgments, orders and decrees, of all Governmental
Authorities. 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, restated, supplemented or otherwise modified (subject to any restrictions on such amendments, restatements, 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 (subject to any restrictions on assignment set forth herein) and, in the case of any Governmental Authority, any other Governmental Authority that shall have succeeded to any or all functions thereof, (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 reference herein to a merger, transfer, consolidation, amalgamation, assignment, sale, or
disposition, or similar term, shall be deemed to apply to a division of or by a limited liability company, or an allocation of assets to a series of a limited liability company (or the unwinding of such a division or allocation), as if it were a
merger, transfer, consolidation, amalgamation, assignment, sale or disposition, or similar term, as applicable, to, of or with a separate Person, and any division of a limited liability company shall constitute a separate Person hereunder (and each
division of any limited liability company that is a Subsidiary, joint venture or any other like term shall also constitute such a Person or entity). 

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 Borrower notifies the Administrative Agent that the Borrower 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 Borrower 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. Notwithstanding any other provision contained herein, all terms of an accounting or financial nature used herein shall be construed, and all
computations of amounts and ratios referred to herein shall be made (i) without giving effect to any election under Accounting Standards Codification 825-10-25 (or any other Accounting Standards Codification or Financial Accounting Standard
having a similar result or effect) to value any Indebtedness or other liabilities of the Borrower or any Subsidiary at “fair value”, as defined therein and (ii) without giving effect to any treatment of Indebtedness in respect of convertible debt instruments under Accounting Standards Codification 470-20 or 2015-03 (or any other Accounting Standards Codification or
Financial Accounting Standard having a similar result or effect) to value any such Indebtedness in a reduced or bifurcated manner as described therein, and such Indebtedness shall at all times be valued at the full stated principal amount thereof.
Notwithstanding the foregoing, all liabilities under or in respect of any lease (whether now outstanding or at any time entered into or incurred) that, under GAAP as in effect on the Effective Date, would be accrued as rental and lease expense and
would not constitute a capital lease obligation in accordance with GAAP as in effect on the Effective Date shall 
 continue to not constitute a
capital lease obligation, in each case, for purposes of the covenants set forth herein and all defined terms as used therein. 

  
 28 

 SECTION 1.05. Interest Rates; LIBOR Notification. The interest rate on Eurodollar
Loans is determined by reference to the LIBO Rate, which is derived from the London interbank offered rate. The London interbank offered rate is intended to represent the rate at which contributing banks may obtain short-term borrowings from each
other in the London interbank market. In July 2017, the U.K. Financial Conduct Authority announced that, after the end of 2021, it would no longer persuade or compel contributing banks to make rate submissions to the ICE Benchmark Administration
(together with any successor to the ICE Benchmark Administration, the “IBA”) for purposes of the IBA setting the London interbank offered rate. As a result, it is possible that commencing in 2022, the London interbank offered rate
may no longer be available or may no longer be deemed an appropriate reference rate upon which to determine the interest rate on Eurodollar Loans. In light of this eventuality, public and private sector industry initiatives are currently underway to
identify new or alternative reference rates to be used in place of the London interbank offered rate. In the event that the London interbank offered rate is no longer available or in certain other circumstances as set forth in Section 2.14(b)
of this Agreement, such Section 2.14(b) provides a mechanism for determining an alternative rate of interest. The Administrative Agent will notify the Borrower, pursuant to Section 2.14, in advance of any change to the reference rate upon
which the interest rate on Eurodollar Loans is based. However, the Administrative Agent does not warrant or accept any responsibility for, and shall not have any liability with respect to, the administration, submission or any other matter related
to the London interbank offered rate or other rates in the definition of “LIBO Rate” 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, as it may or may not be adjusted pursuant to Section 2.14(b), will be similar to, or produce the same value or economic equivalence of, the LIBO Rate or have the
same volume or liquidity as did the London interbank offered rate prior to its discontinuance or unavailability. 
 SECTION 1.06. Status
of Obligations. In the event that the Borrower or any other Loan Party shall at any time issue or have outstanding any Subordinated Indebtedness, the Borrower shall take or cause such other Loan Party to take all such actions as shall be
necessary to cause the Obligations to constitute senior indebtedness (however denominated) in respect of such Subordinated Indebtedness and to enable the Administrative Agent and the Lenders to have and exercise any payment blockage or other
remedies available or potentially available to holders of senior indebtedness under the terms of such Subordinated Indebtedness. Without limiting the foregoing, the Obligations are hereby designated as “senior indebtedness” and as
“designated senior indebtedness” and words of similar import under and in respect of any indenture or other agreement or instrument under which such Subordinated Indebtedness is outstanding and are further given all such other designations
as shall be required under the terms of any such Subordinated Indebtedness in order that the Lenders may have and exercise any payment blockage or other remedies available or potentially available to holders of senior indebtedness under the terms of
such Subordinated Indebtedness. 

SECTION
1.07. 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): (a) if any asset, right, obligation or
liability of any 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 (b) if any new Person comes into existence,
such new Person shall be deemed to have been organized and acquired on the first date of its existence by the holders of its Equity Interests at such time. 

  
 29 

 ARTICLE II 

The Credits 
 SECTION 2.01. Commitments. 

(a)
 SECTION 2.01. Commitments. Subject
to the terms and conditions set forth herein,
(ai) each Revolving Lender (severally and not jointly) agrees to make Revolving Loans to the Borrower in Dollars from time to time during the Availability Period in an aggregate principal amount that will not result
(after giving effect to any application of proceeds of such Borrowing to any Swingline Loans outstanding pursuant to Section 2.10(a)) in (iA) the amount of such Lender’s Revolving Credit Exposure exceeding
such Lender’s Revolving Commitment or
(iiB
) the Total Revolving Credit Exposure exceeding the aggregate Revolving Commitments, (bii) each Term A-1 Lender with a Term A-1 Loan Commitment (severally and
not jointly) agrees to make a Term A-1 Loan to the Borrower in Dollars on the Effective Date, in an amount equal to such Lender’s Term A-1 Loan Commitment by making immediately available funds available to the Administrative Agent’s
designated account, not later than the time specified by the Administrative Agent and, (ciii) each Term A-2 Lender with a Term A-2 Loan Commitment (severally and not jointly) agrees to make a Term A-2 Loan to the Borrower in Dollars on the Effective Date, in an amount equal to such Lender’s Term A-2
Loan Commitment by making immediately available funds available to the Administrative Agent’s designated account, not later than the time specified by the Administrative Agent.,
(iv) each Term A-1 2020 Lender with a Term A-1 2020 Loan Commitment (severally and not jointly) agrees to make a Term A-1 2020 Loan to the Borrower in Dollars on the Amendment No. 1 Effective Date, in an amount equal to such
Lender’s Term A-1 2020 Loan Commitment by making immediately available funds available to the Administrative Agent’s designated account, not later than the time specified by the Administrative Agent and (v) each Term A-2 2020 Lender
with a Term A-2 2020 Loan Commitment (severally and not jointly) agrees to make a Term A-2 2020 Loan to the Borrower in Dollars on the Amendment No. 1 Effective Date, in an amount equal to such Lender’s Term A-2 2020 Loan Commitment by
making immediately available funds available to the Administrative Agent’s designated account, not later than the time specified by the Administrative Agent. 

(b) It is understood and agreed that, (i) simultaneously with the funding of the Term A-1 2020 Loans to the Borrower on the Amendment
No. 1 Effective Date (x) all Term A-1 2020 Loans are designated as, shall constitute, and shall be deemed to be, Term A-1 Loans for all purposes under this Agreement and the other Loan Documents, (ii) all Term A-1 2020 Lenders are
designated as, shall constitute, and shall be deemed to be, Term A-1 Lenders for all purposes under this Agreement and the other Loan Documents, (iii) all Term A-1 2020 Loan Commitments are designated as, shall constitute, and shall be deemed
to be, Term A-1 Loan Commitments for all purposes under this Agreement and the other Loan Documents, in each case of the foregoing clauses (i) through (iii) from and after the funding of Term A-1 2020 Loans to the Borrower on the Amendment
No. 1 Effective Date. 

(c) It is understood and
agreed that, (i) simultaneously with the funding of the Term A-2 2020 Loans to the Borrower on the Amendment No. 1 Effective Date (x) all Term A-2 2020 Loans are designated as, shall constitute, and shall be deemed to be, Term A-2
Loans for all purposes under this Agreement and the other Loan Documents, (ii) all Term A-2 2020 Lenders are designated as, shall constitute, and shall be deemed to be, Term A-2 Lenders for all purposes under this Agreement and the other Loan
Documents, (iii) all Term A-2 2020 Loan Commitments are designated as, shall constitute, and shall be deemed to be,
Term A-2 Loan Commitments for all purposes under this Agreement and the other Loan Documents, in each case of the foregoing clauses (i) through (iii) from and after the funding of Term A-2 2020 Loans to the Borrower on the Amendment
No. 1 Effective Date. 

  
 30 

(d)
Within the foregoing limits and subject to the terms and conditions set forth
hereinin this Section 2.01,
the Borrower may borrow, prepay and reborrow Revolving Loans. Amounts repaid or prepaid in respect of Term Loans may not be reborrowed. 

SECTION 2.02. Loans and Borrowings. (a) Each Loan (other than a Swingline Loan) shall be made as part of a Borrowing consisting of
Loans of the same Class and Type made by the applicable Lenders ratably in accordance with their respective Commitments of the applicable Class. The failure of any Lender to make any Loan 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. Any Swingline Loan shall be made in accordance with the
procedures set forth in Section 2.05. The Term Loans shall be repaid as set forth in Section 2.10. 
 (b) Subject
to Section 2.14, each Revolving Borrowing, Term A-1 Loan Borrowing and Term A-2 Loan Borrowing shall be comprised entirely of ABR Loans or Eurodollar Loans as the Borrower may request in accordance herewith; provided that all Borrowings
made on the Effective Date must be made as ABR Borrowings (unless the Borrower executes a funding indemnity letter in form and substance reasonably satisfactory to the Administrative Agent) but may be converted into Eurodollar Borrowings in
accordance with Section 2.08. Each Swingline Loan shall be an ABR Loan. 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 2.14, 2.15, 2.16 and 2.17 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 Borrower to repay such Loan in accordance
with the terms of this Agreement. 
 (c) At the commencement of each Interest Period for any Eurodollar Revolving Borrowing,
such Borrowing shall be in an aggregate amount that is an integral multiple of $1,000,000 and not less than $5,000,000. At the time that each ABR Revolving Borrowing is made, such Borrowing shall be in an aggregate amount that is an integral
multiple of $1,000,000 and not less than $1,000,000; provided that an ABR Revolving Borrowing may be in an aggregate amount that is equal to the entire unused balance of the aggregate Revolving Commitments or that is required to finance the
reimbursement of an LC Disbursement as contemplated by Section 2.06(e). Each Swingline Loan shall be in an amount that is an integral multiple of $100,000 and not less than $200,000. 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 (x) twenty (20) Eurodollar Revolving Borrowings outstanding and (y) eight (8) Eurodollar Term Loan Borrowings outstanding. 

(d) Notwithstanding any other provision of this Agreement, the Borrower shall not be entitled to request, or to elect to
convert or continue, any Borrowing of any Class if the Interest Period requested with respect thereto would end after the applicable Maturity Date. 

SECTION 2.03. Requests for Borrowings. To request a Borrowing, the Borrower shall notify the Administrative Agent of such request by
irrevocable written notice (via a written Borrowing Request signed by the Borrower, promptly followed by telephonic or electronic confirmation of such
request) (a) in the case of a Eurodollar Borrowing, not later than 1:00 p.m., New York City time, three (3) Business Days before the date of the proposed Borrowing or
(b) in the case of an ABR Borrowing, not obligations of a Swingline Lender under this Agreement with respect to Swingline Loans made by it prior to its replacement, but shall not be required to make additional Swingline Loans. 

  
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 (e) Subject to the appointment and acceptance of a successor Swingline
Lender, the Swingline Lender may resign as a Swingline Lender at any time upon thirty (30) days’ prior written notice to the Administrative Agent, the Borrower and the Revolving Lenders, in which case, such Swingline Lender shall be
replaced in accordance with Section 2.05(d) above. 
 SECTION 2.06. Letters of Credit. (a) General. Subject to the
terms and conditions set forth herein, the Borrower may request the issuance of Letters of Credit denominated in Dollars for its own account, in a form reasonably acceptable to the Administrative Agent and the applicable Issuing Bank, at any time
and from time to time during the Availability Period. In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of any Letter of Credit Agreement, the terms and conditions of this Agreement
shall control. Notwithstanding anything herein to the contrary, no Issuing Bank shall have any obligation hereunder to issue, and shall not
issue, any Letter of Credit the proceeds of which would be made available to any Person (i) to fund any activity
or business of or with any Sanctioned Person, or in any Sanctioned Country, (ii) in any manner that would result in a violation of any Sanctions by any party to this Agreement or (iii) in any manner that would result in a violation
ofif (i) any order, judgment or decree of any Governmental Authority or arbitrator shall by its terms purport to
enjoin or restrain such Issuing Bank from issuing such Letter of Credit, or any law applicable to such Issuing Bank shall prohibit, or require that such Issuing Bank refrain from, the issuance of letters of credit generally or such Letter of Credit
in particular or shall impose upon such Issuing Bank with respect to such Letter of Credit any restriction, reserve or capital requirement (for which such Issuing Bank is not otherwise compensated hereunder) not in effect on the Effective Date, or
shall impose upon such Issuing Bank any unreimbursed loss, cost or expense that was not applicable on the Effective Date and that such Issuing Bank in good faith deems material to it or (ii) the issuance of such Letter of Credit would
violate one or more policies of such Issuing Bank applicable to letters of credit generally. 
 (b)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions.
To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an
outstanding Letter of Credit other than an Auto Renewal Letter of Credit), the Borrower shall hand deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Bank) to the
applicable Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended,
renewed or extended, and specifying the date of issuance, amendment,
renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such
Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend,
renew or extend such Letter of Credit. In addition, as a condition to any such Letter of Credit issuance, the Borrower shall have entered into a continuing agreement (or other letter of
credit agreement) for the issuance of letters of credit and/or shall submit a letter of credit application, in each case, as required by the relevant Issuing Bank and using such Issuing Bank’s standard form (each, a “Letter of Credit
Agreement”). A Letter of Credit shall be issued, amended, renewed or extended only if
(and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall
be deemed to represent and warrant that), after giving effect to such issuance, amendment,
renewal or extension (i) the amount of the LC Exposure shall not exceed $25,000,000, (ii) the sum of (x) the aggregate undrawn amount of all outstanding Letters of Credit
issued by any Issuing Bank at such time plus (y) the aggregate amount of all LC Disbursements made by such Issuing Bank that have not yet 

  
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been reimbursed by or on behalf of the Borrower at such time shall not exceed such Issuing Bank’s Letter of Credit Commitment, (iii) the sum of the Total Revolving Credit Exposure shall
not exceed the aggregate Revolving Commitments and (iv) the Revolving Credit Exposure of any Revolving Lender shall not exceed such Lender’s Revolving Commitment. The Borrower may, at any time and from time to time, reduce the Letter of
Credit Commitment of any Issuing Bank with the consent of such Issuing Bank; provided that the Borrower shall not reduce the Letter of Credit Commitment of any Issuing Bank if, after giving effect of such reduction, the conditions set forth
in clauses (i) through (iv) above shall not be satisfied. 
 (c) Expiration Date. Each Letter of Credit
shall expire (or, if so provided in such Letter of Credit, be subject to termination by notice from the applicable Issuing Bank to the beneficiary thereof) at or prior to the close of business on the earlier of (i) the date one year after the
date of the issuance of such Letter of Credit (or, in the case of any renewal or extension of the expiration date thereof, one year after such renewal or extension) and (ii) the date that is five (5) Business Days prior to the
Revolving/TLA-1 Maturity Date, provided that any Letter of Credit with a one-year tenor may, subject to the terms and conditions of such Letter of Credit, provide for the automatic
renewalextension thereof for
additional one-year periods (which shall in no event extend beyond the date referred to in the foregoing clause (ii), each such Letter of Credit with such automatic
renewalextension provisions being
referred to herein as an “Auto
RenewalExtension Letter
of Credit”). 
 (d) Participations. By the issuance of a Letter of Credit (or an amendment to a Letter
of Credit increasing the amount thereof) and without any further action on the part of the applicable Issuing Bank or the Revolving Lenders, the applicable Issuing Bank hereby grants to each Revolving Lender, and each Revolving Lender hereby
acquires from such Issuing Bank, a participation in such Letter of Credit equal to such Lender’s Applicable Percentage of the aggregate amount available to be drawn under such Letter of Credit. In consideration and in furtherance of the
foregoing, each Revolving Lender hereby absolutely and unconditionally agrees to pay to the Administrative Agent, for the account of the applicable Issuing Bank, such Lender’s Applicable Percentage of each LC Disbursement made by such Issuing
Bank and not reimbursed by the Borrower on the date due as provided in paragraph (e) of this Section, or of any reimbursement payment required to be refunded to the Borrower for any reason, including after the Revolving/TLA-1 Maturity Date. Each
Revolving Lender acknowledges and agrees that its obligation to acquire participations pursuant to this paragraph in respect of Letters of Credit is absolute and unconditional and shall not be affected by any circumstance whatsoever, including any
amendment, renewal or extension of any Letter of Credit or the occurrence and continuance of a
Default or reduction or termination of the Commitments, and that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever. 

(e) Reimbursement. If any Issuing Bank shall make any LC Disbursement in respect of a Letter of Credit, the Borrower
shall reimburse such LC Disbursement by paying to the Administrative Agent in Dollars the amount equal to such LC Disbursement, calculated as of the date such Issuing Bank made such LC Disbursement, not later than 1:00 p.m., New York City time, on
the date that such LC Disbursement is made, if the Borrower shall have received notice of such LC Disbursement prior to 10:00 a.m., New York City time, on the date of such disbursement, or, if such notice has not been received by the Borrower prior
to such time on such date, then not later than 1:00 p.m., New York City time, on the Business Day immediately following the day that the Borrower receives such notice; provided that, if such LC Disbursement is not less than $1,000,000, the
Borrower may, subject to the conditions to borrowing set forth herein, request in accordance with Section 2.03 or 2.05 that such payment be financed with an ABR Revolving Borrowing or Swingline Loan in an equivalent amount of such LC
Disbursement 

  
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and, to the extent so financed, the Borrower’s obligation to make such payment shall be discharged and replaced by the resulting ABR Revolving Borrowing or Swingline Loan. If the Borrower
fails to make such payment when due, the Administrative Agent shall notify each Revolving Lender of the applicable LC Disbursement, the payment then due from the Borrower in respect thereof and such Lender’s Applicable Percentage thereof.
Promptly following receipt of such notice, each Revolving Lender shall pay to the Administrative Agent its Applicable Percentage of the payment then due from the Borrower, in the same manner as provided in Section 2.07 with respect to Loans
made by such Lender (and Section 2.07 shall apply, mutatis mutandis, to the payment obligations of the Revolving Lenders), and the Administrative Agent shall promptly pay to the applicable Issuing Bank the amounts so received by it from
the Revolving Lenders. Promptly following receipt by the Administrative Agent of any payment from the Borrower pursuant to this paragraph, the Administrative Agent shall distribute such payment to the applicable Issuing Bank or, to the extent that
Revolving Lenders have made payments pursuant to this paragraph to reimburse such Issuing Bank, then to such Lenders and such Issuing Bank as their interests may appear. Any payment made by a Revolving Lender pursuant to this paragraph to reimburse
any Issuing Bank for any LC Disbursement (other than the funding of ABR Revolving Loans or a Swingline Loan as contemplated above) shall not constitute a Loan and shall not relieve the Borrower of its obligation to reimburse such LC Disbursement.

 (f) Obligations Absolute. The Borrower’s obligation to reimburse LC Disbursements as provided in paragraph
(e) of this Section shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms of this Agreement under any and all circumstances whatsoever and irrespective of (i) any lack of validity or
enforceability of any Letter of Credit, any Letter of Credit Agreement or this Agreement, or any term or provision therein or herein, (ii) any draft or other document presented under a Letter of Credit proving to be forged, fraudulent or
invalid in any respect or any statement therein being untrue or inaccurate in any respect, (iii) any payment by any Issuing Bank under a Letter of Credit against presentation of a draft or other document that does not comply with the terms of
such Letter of Credit, or (iv) any other event or circumstance whatsoever, whether or not similar to any of the foregoing, that might, but for the provisions of this Section, constitute a legal or equitable discharge of, or provide a right of
setoff against, the Borrower’s obligations hereunder. Neither the Administrative Agent, the Revolving Lenders nor any Issuing Bank, nor any of their respective Related Parties, shall have any liability or responsibility by reason of or in
connection with the issuance or transfer of any Letter of Credit or any payment or failure to make any payment thereunder (irrespective of any of the circumstances referred to in the preceding sentence), or any error, omission, interruption, loss or
delay in transmission or delivery of any draft, notice or other communication under or relating to any Letter of Credit (including any document required to make a drawing thereunder), any error in interpretation of technical terms, any error in translation or any consequence arising from causes
beyond the control of any Issuing Bank; provided that the foregoing shall not be construed to excuse an Issuing Bank from liability to the Borrower to the extent of any direct damages (as opposed to special, indirect, consequential or
punitive damages, claims in respect of which are hereby waived by the Borrower to the extent permitted by applicable law) suffered by the Borrower that are caused by such Issuing Bank’s failure to exercise care when determining whether drafts
and other documents presented under a Letter of Credit comply with the terms thereof. The parties hereto expressly agree that, in the absence of gross negligence or willful misconduct on the part of any Issuing Bank (as finally determined by a court
of competent jurisdiction), such Issuing Bank shall be deemed to have exercised care in each such determination. In furtherance of the foregoing and without limiting the generality thereof, the parties agree that, with respect to documents presented
which appear on their face to be in substantial compliance with the terms of a Letter of Credit, any Issuing Bank may, in its sole discretion, either accept and make payment upon such documents without responsibility for further investigation,
regardless of any notice or information to the contrary, or refuse to accept and make payment upon such documents if such documents are not in strict compliance with the terms of such Letter of Credit. 

  
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 (g) Disbursement Procedures. Each Issuing Bank shall, promptlyfor any Letter of Credit issued by it shall, within the time allowed by applicable law or the specific terms of the Letter of
Credit following its receipt thereof, examine all documents purporting to represent a demand for payment under a Letter of Credit. Each Issuing Bank shall promptly after such examination notify the Administrative Agent and the
Borrower by telephone (confirmed by telecopy or electronic mail) of such demand for payment and whether such Issuing Bank has made or will make an LC Disbursement thereunder; provided that any failure to give or delay in giving such notice shall not relieve the Borrower
of its obligation to reimburse the applicable Issuing Bank and the Revolving Lenders with respect to any such LC Disbursement. 

(h) Interim Interest. If any Issuing Bank
for any Letter of Credit issued by it shall make any LC
Disbursement, then, unless the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to
but excluding the date that the Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans and such interest shall be due and payable on the date when such reimbursement is payable; provided that,
if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing
Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph (e) of this Section to reimburse the applicable Issuing Bank for such LC Disbursement shall be for the account of such Lender
to the extent of such payment. 
 (i) Replacement and Resignation of an Issuing Bank. (A) Any Issuing Bank
may be replaced at any time by written agreement among the Borrower, the Administrative Agent, the replaced Issuing Bank and the successor Issuing Bank. The Administrative Agent shall notify the Revolving Lenders of any such replacement of an
Issuing Bank. At the time any such replacement shall become effective, the Borrower shall pay all unpaid fees accrued for the account of the replaced Issuing Bank pursuant to Section 2.12(b). From and after the effective date of any such
replacement, (i) the successor Issuing Bank shall have all the rights and obligations of the replaced Issuing Bank under this Agreement with respect to Letters of Credit to be issued by it thereafter and (ii) references herein to the term
“Issuing Bank” shall be deemed to refer to such successor or to any previous Issuing Bank, or to such successor and all previous Issuing Banks, as the context shall require. After the replacement of an Issuing Bank hereunder, the replaced
Issuing Bank shall remain a party hereto and shall continue to have all the rights and obligations of an Issuing Bank under this Agreement with respect to Letters of Credit then outstanding and issued by it prior to such replacement, but shall not
be required to issue additional Letters of Credit or extend or otherwise amend any existing Letter of Credit. 

(B) Subject to the appointment and acceptance of a successor Issuing Bank, the Issuing Bank may resign as the Issuing Bank at
any time upon thirty days’ prior written notice to the Administrative Agent, the Borrower and the Revolving Lenders, in which case, the resigning Issuing Bank shall be replaced in accordance with Section 2.06(i)(A) above. 

  
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 (j) Cash Collateralization. If any Event of Default shall occur and
be continuing, on the Business Day that the Borrower receives notice from the Administrative Agent or the Required Lenders (or, if the maturity of the Loans has been accelerated, Revolving Lenders with LC Exposure representing greater than 50% of
the total LC Exposure) demanding the deposit of cash collateral pursuant to this paragraph, the Borrower shall deposit in an account with the Administrative Agent, in the name of the Administrative Agent and for the benefit of the Revolving Lenders
(the “LC Collateral Account”), an amount in cash equal to 103% of the amount of the LC Exposure as of such date plus any accrued and unpaid interest thereon; provided that the obligation to deposit such cash collateral shall
become effective immediately, and such deposit shall become immediately due and payable, without demand or other notice of any kind, upon the occurrence of any Event of Default with respect to the Borrower described in clause (d) of Article
VII. Such deposit shall be held by the Administrative Agent as collateral for the payment and performance of the Obligations. The Administrative Agent shall have exclusive dominion and control, including the exclusive right of withdrawal, over such
account; provided, however, that it may not invest the funds in such account without the prior approval of the Borrower. Other than any interest earned on the investment of such deposits, which investments shall be made at the option
and sole discretion of the Administrative Agent and at the Borrower’s risk and expense, such deposits shall not bear interest. Interest or profits, if any, on such investments shall accumulate in such account. Moneys in such account shall be
applied by the Administrative Agent to reimburse the applicable Issuing Bank for LC Disbursements for which it has not been reimbursed and, to the extent not so applied, shall be held for the satisfaction of the reimbursement obligations of the
Borrower for the LC Exposure at such time or, if the maturity of the Loans has been accelerated (but subject to the consent of Revolving Lenders with LC Exposure representing greater than 50% of the total LC Exposure), be applied to satisfy other
Obligations. If the Borrower is required to provide an amount of cash collateral hereunder as a result of the occurrence of an Event of Default, such amount (to the extent not applied as aforesaid) shall be returned to the Borrower within three
(3) Business Days after all Events of Default have been cured or waived. 
 (k) LC Exposure Determination. For
all purposes of this Agreement, the amount of a Letter of Credit that, by its terms or the terms of any document related thereto, provides for one or more automatic increases in the stated amount thereof shall be deemed to be the maximum stated
amount of such Letter of Credit after giving effect to all such increases, whether or not such maximum stated amount is in effect at the time of determination. 

(l) Letters of Credit Issued for Account of Subsidiaries. Notwithstanding that a Letter of Credit issued or outstanding
hereunder supports any obligations of, or is for the account of, a Subsidiary, or states that a Subsidiary is the “account party,” “applicant,” “customer,” “instructing party,” or the like of or for such
Letter of Credit, and without derogating from any rights of the Issuing Bank (whether arising by contract, at law, in equity or otherwise) against such Subsidiary in respect of such Letter of Credit, the Borrower (i) shall reimburse, indemnify
and compensate the Issuing Bank hereunder for such Letter of Credit (including to reimburse any and all drawings thereunder) as if such Letter of Credit had been issued solely for the account of the Borrower and (ii) irrevocably waives any and
all defenses that might otherwise be available to it as a guarantor or surety of any or all of the obligations of such Subsidiary in respect of such Letter of Credit. The Borrower hereby acknowledges that the issuance of such Letters of Credit for
its Subsidiaries inures to the benefit of the Borrower, and that the Borrower’s business derives substantial benefits from the businesses of such Subsidiaries. 

(m) Issuing Bank Agreements. Each Issuing Bank agrees that, unless otherwise requested by the Administrative Agent, such
Issuing Bank shall report in writing to the Administrative Agent (i) on or prior to each Business Day on which such Issuing Bank expects to issue, amend,
renew or extend any Letter of Credit, the date of such issuance, amendment, 

  
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renewal or extension, and the aggregate face
amount of the Letters of Credit to be issued, amended, renewed or extended by it and
outstanding after giving effect to such issuance, amendment, renewal or extension occurred (and
whether the amount thereof changed), (ii) on each Business Day on which such Issuing Bank pays any amount in respect of one or more drawings under Letters of Credit, the date of such payment(s) and the amount of such payment(s), (iii) on any
Business Day on which the Borrower fails to reimburse any amount required to be reimbursed to such Issuing Bank on such day, the date of such failure and the amount and currency of such payment in respect of Letters of Credit and (iv) on any
other Business Day, such other information as the Administrative Agent shall reasonably request. 
 SECTION 2.07. Funding of
Borrowings. (a) Each Lender shall make each Loan to be made by it hereunder on the proposed date thereof
solely by wire transfer of immediately available funds by
2:00 p.m., New York City time, to the account of the Administrative Agent most recently designated by it for such purpose by notice to the Lenders in an amount equal to such Lender’s Applicable Percentage; provided that Term Loans shall
be made as provided in Sections 2.01(b) and 2.01(c), as applicable; provided further that Swingline Loans shall be made as provided in Section 2.05. Except in respect of the provisions of this Agreement covering the reimbursement
of Letters of Credit, the Administrative Agent will make such Loans available to the Borrower by promptly crediting the amounts so received, in like funds, to a general deposit account of the Borrower as designated by the Borrower in the applicable
Account Designation Letter; provided that ABR Revolving Loans made to finance the
reimbursement of an LC Disbursement as provided in Section 2.06(e) shall be remitted by the Administrative Agent to the applicable Issuing Bank. 

(b) Unless the Administrative Agent shall have received notice from a Lender prior to the proposed time of any Borrowing (or in
the case of an ABR Borrowing, prior to 2:00 p.m., New York City time, on the date of such 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 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, then the applicable Lender and the 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 the Borrower to but excluding the date of payment to the Administrative Agent, at (i) in the case of such Lender, the greater of the NYFRB Rate and a rate
determined by the Administrative Agent in accordance with banking industry rules on interbank compensation or (ii) in the case of the Borrower, the interest rate applicable to ABR Loans. If such Lender pays such amount to the Administrative
Agent, then such amount shall constitute such Lender’s Loan included in such Borrowing. 
 SECTION 2.08. Interest Elections.
(a) Each Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a Eurodollar Borrowing, shall have an initial Interest Period as specified in such Borrowing Request. Thereafter, the Borrower
may elect to convert such Borrowing to a different Type or to continue such Borrowing and, in the case of a Eurodollar Borrowing, may elect Interest Periods therefor, all as provided in this Section. The Borrower may elect different options with
respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising such Borrowing, and the Loans comprising each such portion shall be considered a
separate Borrowing. This Section shall not apply to Swingline Borrowings, which may not be converted or continued. 

  
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 (b) The Borrower may at any time terminate, or from time to time reduce, the
Revolving Commitments; provided that (i) each reduction of the Revolving Commitments shall be in an amount that is an integral multiple of $1,000,000 and not less than $5,000,000 and (ii) the Borrower shall not terminate or reduce
the Revolving Commitments if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 2.11,
(A) any Lender’s Revolving Credit Exposure would exceed its Revolving Commitment or (B) the Total Revolving Credit Exposure would exceed the aggregate Revolving Commitments. 

(c) The Borrower shall notify the Administrative Agent of any election to terminate or reduce the Commitments under paragraph
(b) of this Section at least three (3) Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent
shall advise the Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section shall be irrevocable; provided that a notice of termination of the Commitments delivered by the Borrower may state that such notice is
conditioned upon the effectiveness of other credit facilities or other transactions specified therein, in which case such notice may be revoked by the Borrower (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 2.10. Repayment of Loans; Evidence of Debt. (a) The Borrower hereby unconditionally promises to pay (i) to the
Administrative Agent for the account of each Revolving Lender the then unpaid principal amount of each Revolving Loan on the Revolving/TLA-1 Maturity Date, (ii) to the Administrative Agent for the account of the Swingline Lender the then unpaid
principal amount of each Swingline Loan on the earlier of the Revolving/TLA-1 Maturity Date and the first date after such Swingline Loan is made that is the 15th or last day of a calendar month
and is at least two (2) Business Days after such Swingline Loan is made; provided that on each date that a Revolving Borrowing is made, the Borrower shall repay all Swingline Loans then outstanding and the proceeds of any such Borrowing
shall be applied by the Administrative Agent to repay any Swingline Loans outstanding, (iii) to the extent not previously repaid, to the Administrative Agent for the account of each Term A-1 Lender the then unpaid principal amount of the Term
A-1 Loans in Dollars on the Revolving/TLA-1 Maturity Date and (iv) to the extent not previously repaid, to the Administrative Agent for the account of each Term A-2 Lender the then unpaid principal amount of the Term A-2 Loans in Dollars on the
TLA-2 Maturity Date. 
 (b) Each Lender shall maintain in accordance with its usual practice an account or accounts
evidencing the indebtedness of the Borrower to such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder. 

(c) The Administrative Agent shall maintain accounts in which it shall record (i) the amount of each Loan made hereunder,
the Class and Type thereof and the Interest Period applicable thereto, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to each Lender hereunder and (iii) the amount of any sum
received by the Administrative Agent hereunder for the account 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, absent manifest error, of the existence and amounts of the obligations recorded therein; provided
that the failure of any Lender or the Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligation of the Borrower to repay the Loans in accordance with the terms of this Agreement. 

  
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 (e) Any Lender may request that Loans made by it be evidenced by a
promissory note. In such event, the Borrower shall prepare, execute and deliver to such Lender a promissory note payable to such Lender (or, if requested by such Lender, to such Lender and its registered assigns) and substantially in the form
attached as Exhibit B hereto. Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 9.04) be represented by one or more promissory notes in such
form. 
 SECTION 2.11. Prepayment of Loans. The Borrower shall have the right at any time and from time to time to prepay any
Borrowing in whole or in part, subject to prior notice in accordance with the provisions of this Section 2.11. The Borrower shall notify the Administrative Agent (and, in the case of prepayment of a Swingline Loan, the Swingline Lender) by telephone (confirmed by telecopy)written
notice of any prepayment hereunder (i) in the case of prepayment of a Eurodollar Borrowing, not later than 1:00 p.m., New York City time, three (3) Business Days before the date of prepayment, (ii) in the case of
prepayment of an ABR Borrowing, not later than 1:00 p.m., New York City time, one (1) Business Day before the date of prepayment or (iii) in the case of prepayment of a Swingline Loan, not later than 1:00 p.m., New York City time, on the
date of 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 prepayment is given in connection with
a conditional notice of termination of the Commitments, then such notice of prepayment may be revoked if such notice of termination is revoked in accordance with Section 2.09. Promptly following receipt of any such notice relating to a
Borrowing, 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 Revolving Borrowing shall be applied ratably to the Revolving Loans included in the prepaid Revolving Borrowing, each voluntary prepayment of a Term Loan Borrowing of any Class shall be applied ratably to the
Term Loans of such Class outstanding at such time and included in the prepaid Term Loan Borrowing in such order of application as directed by the Borrower. Prepayments shall be accompanied by (i) accrued interest to the extent required by
Section 2.13 and (ii) any break funding payments required by Section 2.16. If at any time the Total Revolving Credit Exposure exceeds the aggregate Revolving Commitments, the Borrower shall immediately repay Borrowings or cash
collateralize LC Exposure in an account with the Administrative Agent pursuant to Section 2.06(j), as applicable, in an aggregate principal amount sufficient to cause the aggregate principal amount of the Total Revolving Credit Exposure to be
less than or equal to the aggregate Revolving Commitments. 
 SECTION 2.12.Fees. (a) The Borrower agrees to pay to the
Administrative Agent for the account of each Revolving Lender a facility fee, which shall accrue at the Applicable Rate on the daily amount of the Revolving Commitment of such Lender (whether used or unused) during the period from and including the
Effective Date to but excluding the date on which such Revolving Commitment terminates; provided that, if such Lender continues to have any Revolving Credit Exposure after its Revolving Commitment terminates, then such facility fee shall
continue to accrue on the daily amount of such Lender’s Revolving Credit Exposure from and including the date on which its Revolving Commitment terminates to but excluding the date on which such Lender ceases to have any Revolving Credit
Exposure. Facility fees accrued through and including the last day of March, June, September and December of each year shall be payable in arrears on the fifteenth (15th) day following such
last day and on the date on which the Revolving Commitments terminate, commencing on the first such date to occur after the date hereof; provided that any facility fees accruing after the date on which the Revolving Commitments terminate
shall be payable on demand. All facility 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). 

  
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 (b) The Borrower agrees to pay (i) to the Administrative Agent for the
account of each Revolving Lender a participation fee with respect to its participations in Letters of Credit, which shall accrue at the same Applicable Rate used to determine the interest rate applicable to Eurodollar Revolving Loans on the average
daily amount of such Lender’s LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date on which such Revolving
Lender’s Revolving Commitment terminates and the date on which such Lender ceases to have any LC Exposure and (ii) to each Issuing Bank for its own account a fronting fee, which shall accrue at the rate of 0.125% per annum on the
average daily amount of the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) attributable to Letters of Credit issued by such Issuing Bank during the period from and including the Effective Date to but
excluding the later of the date of termination of the Revolving Commitments and the date on which there ceases to be any LC Exposure, as well as each Issuing Bank’s standard fees and commissions with respect to the issuance, amendment,
cancellation, negotiation, transfer, presentment, renewal or extension of any Letter of Credit or
processing of drawings thereunder. Unless otherwise specified above, participation fees and fronting fees accrued through and including the last day of March, June, September and December of each year shall be payable on the fifteenth (15th) day following such last day, commencing on the first such date to occur after the Effective Date; provided that all such fees shall be payable on the date on which the Revolving
Commitments terminate and any such fees accruing after the date on which the Revolving Commitments terminate shall be payable on demand. Any other fees payable to an Issuing Bank pursuant to this paragraph shall be payable within ten (10) days
after written demand. All participation fees and fronting 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). 

(c) The Borrower 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 Borrower and the Administrative Agent. 
 (d) All fees payable hereunder shall be paid on
the dates due, in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of facility fees and participation fees, to the applicable Lenders. Fees
paid shall not be refundable under any circumstances. 
 SECTION 2.13. Interest. (a) The Loans comprising each ABR Borrowing
(including each Swingline Loan) shall bear interest at the Alternate Base Rate plus the Applicable Rate. 
 (b) The Loans
comprising each Eurodollar Borrowing shall bear interest at the Adjusted LIBO Rate for the Interest Period in effect for such Borrowing plus the Applicable Rate. 

(c) Notwithstanding the foregoing, if any principal of or interest on any Loan or any fee or other amount payable by the
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% plus the rate otherwise applicable to such Loan as provided in the preceding paragraphs of this 

  
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and such parties are participants), and (b) the Lender required to make such assignment need not be a party thereto in order for such assignment to be effective and shall be deemed to have
consented to and be bound by the terms thereof; provided that, following the effectiveness of any such assignment, the other parties to such assignment agree to execute and deliver such documents necessary to evidence such assignment as reasonably
requested by the applicable Lender, provided that any such documents shall be without recourse to or warranty by the parties thereto. 

SECTION 2.20. Expansion Option. The Borrower may from time to time following the Amendment No. 1 Effective Date elect to
increase the Revolving Commitments or enter into one or more tranches of term loans (each an “Incremental Term Loan”), in each case in a minimum amount of $10,000,000 and increments of $5,000,000 in excess thereof so long as, after
giving effect thereto, the aggregate amount of such increases and all such Incremental Term Loans does not exceed $200,000,000. The Borrower may arrange for any such increase or tranche of Incremental Term Loans to be provided by one or more Lenders
(but excluding (i) the Borrower or any of its Subsidiaries or Affiliates or (ii) a natural person) (each Lender so agreeing to an increase in its Revolving Commitment, or to participate in such Incremental Term Loans, an
“Increasing Lender”), or by one or more new banks, financial institutions or other entities (each such new bank, financial institution or other entity, an “Augmenting Lender”; provided that no Ineligible
Institution may be an Augmenting Lender); provided that (i) each Augmenting Lender, shall be subject to the approval of the Borrower and the Administrative Agent and (ii) (x) in the case of an Increasing Lender, the Borrower and
such Increasing Lender execute an agreement substantially in the form of Exhibit E hereto, and (y) in the case of an Augmenting Lender, the Borrower and such Augmenting Lender execute an agreement substantially in the form of Exhibit
F hereto. No consent of any Lender (other than the Lenders participating in the increase or any Incremental Term Loan) shall be required for any increase in Revolving Commitments or Incremental Term Loans pursuant to this Section 2.20.
Increases and new Revolving Commitments and Incremental Term Loans created pursuant to this Section 2.20 shall be made available to the Borrower pursuant to this Section 2.20 and shall become effective on the date (any such effective date,
an “Increase Effective Date”) agreed by the Borrower, the Administrative Agent and the relevant Increasing Lenders or Augmenting Lenders, and, in each case, the Administrative Agent shall notify each Lender thereof. Notwithstanding
the foregoing, no increase in the Revolving Commitments (or in the Revolving Commitment of any Lender) or tranche of Incremental Term Loans shall become effective under this paragraph unless, (i) on the Increase Effective Date, (A) unless
waived by the Required Lenders, the Administrative Agent shall have received a certificate dated such date and executed by a Financial Officer of the Borrower certifying that (1) the representations and warranties of the Borrower set forth in
this Agreement are true and correct in all material respects (or in all respects if such representation or warranty is qualified by materiality or Material Adverse Effect) on such date (unless such representation and warranty relates to an earlier
date, in which case such representation and warranty shall be true and correct as of such earlier date) and (2) at the time and after giving effect to such increase or Incremental Term Loans, as the case may be, no Default or Event of Default
shall have occurred and be continuing and (B) the Borrower shall be in compliance (on a Pro Forma Basis reasonably acceptable to the Administrative Agent) with the covenants contained in Section 6.12 and (ii) the Administrative Agent
shall have received documents consistent with those delivered on the Effective Date as to the corporate power and authority of the Borrower to borrow hereunder after giving effect to such increase or tranche of Incremental Term Loans. On the
Increase Effective Date of any Incremental Term Loans, each relevant Increasing Lender and Augmenting Lender participating in such tranche of Incremental Term Loans shall make such Incremental Term Loans to the Borrower in Dollars by making such
amounts available to the Administrative Agent’s designated account in immediately available funds not later than the time specified by the Administrative Agent. On the Increase Effective Date of any increase in the Revolving Commitments,
(i) each relevant Increasing Lender and Augmenting Lender shall make available to the Administrative Agent such amounts in immediately available funds as the Administrative Agent shall determine, for the benefit of the other 

hereby, is a Sanctioned Person. No Borrowing or Letter of Credit, use of proceeds or other transaction contemplated by this Agreement will violate
Anti-Corruption Laws or applicable Sanctions. 

  
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 SECTION
3.16.EEAAffected Financial
Institutions. No Loan Party is an
EEAAffected Financial Institution. 

ARTICLE IV 
 Conditions

 SECTION 4.01.Effective Date. The obligations of the Lenders to make Loans and of each Issuing Bank to issue Letters of Credit
hereunder shall not become effective until the date on which each of the following conditions is satisfied (or waived in accordance with Section 9.02): 

(a) The Administrative Agent (or its counsel) shall have received from (i) each party hereto either (A) a counterpart
of this Agreement signed on behalf of such party or (B) written evidence satisfactory to the Administrative Agent (which may include telecopy or electronic transmission of a signed signature page of this Agreement) that such party has signed a
counterpart of this Agreement and (ii) duly executed copies of the Loan Documents. 
 (b) The Administrative Agent shall
have received favorable written opinions (addressed to the Administrative Agent and the Lenders and dated the Effective Date) of (i) Hunton Andrews Kurth LLP, outside counsel for the Loan Parties and (ii) Preston D. Wigner, internal
counsel for the Loan Parties. The Borrower hereby requests such counsel to deliver such opinion. 
 (c) The Administrative
Agent shall have received all documents and certificates described in the list of closing documents attached as Exhibit G, all in form and substance reasonably 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 Borrower, certifying that (i) the representations and warranties of the Borrower set forth in this Agreement are true and correct in all material respects (or in all respects if such representation or
warranty is qualified by materiality or Material Adverse Effect) and (ii) no Default or Event of Default has occurred and is continuing. 

(e) The Administrative Agent shall have received evidence satisfactory to it that the credit facilities evidenced by the
Existing Credit Agreement have been terminated and cancelled and all indebtedness thereunder shall have been fully repaid (except to the extent being so repaid with the initial Loans). 

(f) The Administrative Agent shall have received evidence reasonably satisfactory to it that all governmental and third party
approvals necessary in connection with the Transactions have been obtained and are in full force and effect. 
 (g)
(i) The Administrative Agent shall have received, at least five (5) days prior to the Effective Date, all documentation and other information regarding the Borrower requested in connection with applicable “know your customer” and
anti-money laundering rules and regulations, including the Patriot Act, to the extent requested in writing of the Borrower at least ten (10) days prior to the Effective Date and (ii) to the extent the Borrower qualifies as a “legal

  
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entity customer” under the Beneficial Ownership Regulation, at least five (5) days prior to the Effective Date, any Lender that has requested, in a written notice to the Borrower at
least ten (10) days prior to the Effective Date, a Beneficial Ownership Certification in relation to the Borrower shall have received such Beneficial Ownership Certification (provided that, upon the execution and delivery by such Lender of its
signature page to this Agreement, the condition set forth in this clause (g) shall be deemed to be satisfied). 
 (h)
The Administrative Agent, the Lenders and their applicable Affiliates shall have received (or provisions reasonably satisfactory to the Administrative Agent shall have been made for the concurrent payment of) 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 reasonable, documented out-of-pocket expenses required to be reimbursed or paid by the Borrower hereunder on or prior to the Effective
Date. 
 The Administrative Agent shall notify the Borrower and the Lenders of the Effective Date, and such notice shall be conclusive and binding. 

SECTION 4.02. Each Credit Event. The obligation of each Lender to make a Loan on the occasion of any Borrowing, and of each Issuing
Bank to issue, amend, renew or extend any Letter of Credit, is subject to the satisfaction of the
following conditions: 
 (a) The representations and warranties of the Borrower set forth in this Agreement shall be
true and correct in all material respects (or in all respects if the applicable representation and warranty is qualified by Material Adverse Effect or other materiality qualifier) on and as of the date of such Borrowing or the date of issuance,
amendment, renewal or extension of such Letter of Credit, as applicable. 

(b) At the time of and immediately after giving effect to such Borrowing or the issuance, amendment, renewal or extension of such Letter of Credit, as applicable, no Default or Event of Default shall have
occurred and be continuing. 
 Each request for a Borrowing (but not any Interest Election Request) and each issuance, amendment, renewal or extension of a Letter of Credit shall be deemed to constitute a representation and warranty by
the Borrower on the date thereof as to the matters specified in paragraphs (a) and (b) of this Section. 
 ARTICLE V 

Affirmative Covenants 

Until the Commitments have expired or been terminated and the principal of and interest on each Loan and all fees payable hereunder shall have
been paid in full and all Letters of Credit shall have expired or terminated, in each case, without any pending draw, and all LC Disbursements shall have been reimbursed, the Borrower covenants and agrees with the Lenders that the Borrower shall,
and shall cause each Material Domestic Subsidiary and each Significant Subsidiary (other than in the case of Sections 5.01, 5.02 and 5.03), to: 

SECTION 5.01. Financial Statements. Furnish, or cause to be furnished, to the Administrative Agent for prompt distribution to the
Lenders: 

  
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 (a) Audited Financial Statements. As soon as available, but in any
event within ninety (90) days after the end of each fiscal year, an audited consolidated balance sheet of the Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of
the Lenders, the Issuing Banks and the Administrative Agent (including any claim under Sections 2.12, 2.13, 2.15, 2.17 and 9.03) allowed in such judicial proceeding; and 

(ii) to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same;

 and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such proceeding is hereby authorized by each
Lender, each Issuing Bank and each other holder of Obligations to make such payments to the Administrative Agent and, in the event that the Administrative Agent shall consent to the making of such payments directly to the Lenders, the Issuing Banks
or the other holders of Obligations, to pay to the Administrative Agent any amount due to it, in its capacity as the Administrative Agent, under the Loan Documents (including under Section 9.03). Nothing contained herein shall be deemed to
authorize the Administrative Agent to authorize or consent to or accept or adopt on behalf of any Lender or any Issuing Bank any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of any Lender or
any Issuing Bank or to authorize the Administrative Agent to vote in respect of the claim of any Lender or any Issuing Bank in any such proceeding. 

(g) The provisions of this Article VIII are solely for the benefit of the Administrative Agent, the Lenders and the
Issuing Banks, and, except solely to the extent of the Borrower’s rights to consent pursuant to and subject to the conditions set forth in this Article VIII, none of the Borrower or any Subsidiary, or any of their respective Affiliates,
shall have any rights as a third party beneficiary under any such provisions. Each holder of Obligations, whether or not a party hereto, will be deemed, by its acceptance of the Guarantees of the Obligations provided under the Loan Documents, to
have agreed to the provisions of this Article VIII. 
 SECTION 8.02. Administrative Agent’s Reliance, Indemnification,
Etc. 
 (a) Neither the Administrative Agent nor any of its Related Parties shall be (i) liable for any action taken
or omitted to be taken by such party, the Administrative Agent or any of its Related Parties under or in connection with this Agreement or the other Loan Documents (x) with the consent of or at the request of the Required Lenders (or such other
number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith to be necessary, under the circumstances as provided in the Loan Documents) or (y) in the absence of its own gross negligence
or willful misconduct (such absence to be presumed unless otherwise determined by a court of competent jurisdiction by a final and non-appealable judgment) or (ii) responsible in any manner to any of the Lenders for any recitals, statements,
representations or warranties made by any Loan Party or any officer thereof contained in this Agreement or any other Loan Document or in any certificate, report, statement or other document referred to or provided for in, or received by the
Administrative Agent under or in connection with, this Agreement or any other Loan Document or for the value, validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other Loan Document (including, for the avoidance of doubt, in connection with the Administrative Agent’s reliance on any Electronic
Signature transmitted by telecopy, emailed pdf, or any other electronic means that reproduces an image of an actual executed signature page) or for any failure of any Loan Party to perform its
obligations hereunder or thereunder. 
 (b) The Administrative Agent shall be deemed not to have knowledge of any
Default unless and until written notice thereof (stating that it is a “notice of default”) is given to the 

  
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 SECTION 8.04. The Administrative Agent Individually. With respect to its Commitment,
Loans, Letter of Credit Commitment and Letters of Credit, the Person serving as the Administrative Agent shall have and may exercise the same rights and powers hereunder and is subject to the same obligations and liabilities as and to the extent set
forth herein for any other Lender or any Issuing Bank, as the case may be. The terms “Issuing Banks”, “Lenders”, “Required Lenders” and any similar terms shall, unless the context clearly otherwise indicates, include
the Administrative Agent in its individual capacity as a Lender, the Issuing Bank or as one of the Required Lenders, as applicable. The Person serving as the Administrative Agent and its Affiliates may accept deposits from, lend money to, own
securities of, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of banking, trust or other business with, the Borrower, any Subsidiary or any Affiliate of any of the foregoing as if such Person was
not acting as the Administrative Agent and without any duty to account therefor to the Lenders or the Issuing Banks. 
 SECTION 8.05.
Successor Administrative Agent. 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 giving 30 days’ prior written notice thereof
to the Lenders, the Issuing Banks and the Borrower. Upon any such resignation, the Required Lenders shall have the right to appoint a successor Administrative Agent. If no successor 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’s giving of notice of resignation, then the retiring Administrative Agent may, on behalf of the Lenders and the Issuing Bank, 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. In either case, such appointment shall be subject to the prior written approval of the Borrower (which approval may not be
unreasonably withheld and shall not be required while an Event of Default has occurred and is continuing). Upon the acceptance of any appointment as Administrative Agent by a successor Administrative Agent, such successor Administrative Agent shall
succeed to, and become vested with, all the rights, powers, privileges and duties of the retiring Administrative Agent. Upon the acceptance of appointment as Administrative Agent by a successor Administrative Agent, the retiring Administrative Agent
shall be discharged from its duties and obligations under this Agreement and the other Loan Documents. Prior to any retiring Administrative Agent’s resignation hereunder as Administrative Agent, the retiring Administrative Agent shall take such
action as may be reasonably necessary to assign to the successor Administrative Agent its rights as Administrative Agent under the Loan Documents. 

SECTION 8.06. Acknowledgements of Lenders and Issuing Banks. 

(a) Each Lender represents that
(i) the Loan Documents set forth the terms of a commercial lending facility, (ii) it is engaged in making, acquiring or holding commercial loans and
in providing other facilities set forth herein as may be applicable to such Lender or the Issuing Bank, in each case in the ordinary course of its business and thatbusiness, and not for the purpose of
purchasing, acquiring or holding any other type of financial instrument (and each Lender and the Issuing Bank agrees not to assert a claim in contravention of the foregoing), (iii) it has, independently and without reliance upon
the Administrative Agent, any Arranger, Co-Syndication Agent, Co-Documentation Agent or any other Lender, or any of the Related Parties of any of the foregoing, and based on such documents and information as it has deemed appropriate, made its own
credit analysis and decision to enter into this Agreement as a Lender, and to make, acquire or hold Loans
hereunder and (iv) it is sophisticated with respect to decisions to make, acquire and/or hold commercial
loans and to provide other facilities set forth herein, as may be applicable to such Lender, and either it, or the Person exercising discretion in making its decision to make, acquire and/or hold such commercial loans or to provide such other
facilities, is experienced in making, acquiring or holding such commercial loans or providing such other facilities. Each Lender also acknowledges that it 

  
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the Administrative Agent and the assignee (or, to the extent applicable, an agreement incorporating an Assignment and Assumption by reference pursuant to an Approved Electronic Platform as to
which the Administrative Agent and such parties are participants), and (b) the Lender required to make such assignment need not be a party thereto in order for such assignment to be effective and shall be deemed to have consented to and be
bound by the terms thereof; provided that, following the effectiveness of any such assignment, the other parties to such assignment agree to execute and deliver such documents necessary to evidence such assignment as reasonably requested by
the applicable Lender, provided that any such documents shall be without recourse to or warranty by the parties thereto. 

(e) Notwithstanding anything to the contrary herein the Administrative Agent may, with the consent of the Borrower only, amend,
modify or supplement this Agreement or any of the other Loan Documents to cure any ambiguity, omission, mistake, defect or inconsistency. 

SECTION 9.03. Expenses; Indemnity; Damage Waiver. (a) The Borrower shall pay (i) all reasonable, documented, out-of-pocket
expenses incurred by the Administrative Agent and its Affiliates, including the reasonable, documented, out-of-pocket fees, charges, and disbursements of one primary counsel, and one local counsel in each applicable jurisdiction, for the
Administrative Agent, in connection with the syndication and distribution (including, without limitation, via the internet or through a service such as Intralinks) of the credit facilities provided for herein, the preparation and administration of
this Agreement and 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), (ii) all reasonable, documented,
out- of- pocket expenses incurred by any Issuing Bank in connection with the issuance, amendment, renewal, or extension of any Letter of Credit or any demand for payment thereunder and (iii) all reasonable, documented, out- of-pocket expenses incurred by the Administrative Agent, any Issuing Bank, or any Lender,
including the reasonable, documented, out-of-pocket fees, charges, and disbursements of one primary counsel, and one local counsel in each applicable jurisdiction, for the Administrative Agent, any Issuing Bank, or any Lender, in connection with the
enforcement or protection of its rights in connection with this Agreement and any other Loan Document, including its rights under this Section, or in connection with the Loans made or Letters of Credit issued hereunder, including all such
reasonable, documented, out-of-pocket expenses incurred during any workout, restructuring, or negotiations in respect of such Loans or Letters of Credit. 

(b) The Borrower shall indemnify the Administrative Agent, each Arranger, each Co-Syndication Agent, each Co-Documentation
Agent, each Issuing Bank 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, claims, damages,
liabilities and related expenses, including the reasonable, documented, out-of-pocket fees, charges and disbursements of any counsel for any Indemnitee, incurred by or asserted against any Indemnitee arising out of, in connection with, or as a
result of (i) the execution or delivery of any Loan Document or any agreement or instrument contemplated thereby, the performance by the parties hereto of their respective obligations thereunder or the consummation of the Transactions or any
other transactions contemplated hereby, (ii) any Loan or Letter of Credit or the use of the proceeds therefrom (including any refusal by any Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in
connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower or any of its
Subsidiaries, or any Environmental Liability related in any way to the Borrower or any of its Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation, arbitration or proceeding relating to any of the foregoing, whether
based on contract, tort or any other theory, whether brought by a third party or by the Borrower or any of 

  
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its Subsidiaries, and regardless of whether any Indemnitee is a party thereto; provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims,
damages, liabilities or related expenses are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from (x) the gross negligence or willful misconduct of such Indemnitee or (y) a material
breach by such Indemnitee of its express obligations under any Loan Document pursuant to a claim initiated by the Borrower. This Section 9.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims or damages
arising from any non-Tax claim. 
 (c) To the extent that the Borrower fails to pay any amount required to be paid by it to
the Administrative Agent, any Issuing Bank or the Swingline Lender under paragraph (a) or (b) of this Section, each Lender severally agrees to pay to the Administrative Agent, and each Revolving Lender severally agrees to pay to the
applicable Issuing Bank or the Swingline Lender, as the case may be, such Lender’s Applicable Percentage (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount (it being
understood that the Borrower’s failure to pay any such amount shall not relieve the Borrower of any default in the payment thereof); provided that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense,
as the case may be, was incurred by or asserted against the Administrative Agent, such Issuing Bank or the Swingline Lender in its capacity as such. 

(d) To the extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemniteeof the Administrative Agent, any Arranger and any
Lender, and any Related Party of any of the foregoing Persons (each such Person being called a “Lender-Related Person”) (i) for any damages arising from the use by others of information or other materials obtained
through telecommunications, electronic or other information transmission systems (including the Internet) other than damages that are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross
negligence or willful misconduct of such
IndemniteeLender-Related Person, or
(ii) 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 Letter of Credit or the use of the proceeds thereof. 

(e) All amounts due under this Section shall be payable not later than fifteen (15) days after written demand therefor.

 SECTION 9.04. 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 (including any Affiliate of the relevant Issuing Bank that issues any Letter of Credit), except that (i) the Borrower may not 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 the Borrower without such consent shall be null and void) and (ii) no Lender may assign or otherwise transfer its
rights or obligations hereunder except in accordance with this Section. Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted
hereby (including any Affiliate of an Issuing Bank that issues any Letter of Credit), Participants (to the extent provided in paragraph (c) of this Section) and, to the extent expressly contemplated hereby, the Related Parties of each of the
Administrative Agent, the Issuing Banks and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement. 

  
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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 unpaid or any Letter of Credit is outstanding and so long as the Commitments have not expired or terminated. The provisions of Sections 2.15, 2.16, 2.17 and
9.03 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, the expiration or termination of the Letters of Credit and the Commitments or
the termination of this Agreement or any other Loan Document or any provision hereof or thereof. 
 SECTION 9.06. Counterparts;
Integration; Effectiveness; Electronic Execution. 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 and any separate letter agreements with respect to (i) fees payable to the Administrative Agent and (ii) the reductions of the Letter of Credit Commitment of any Issuing
Bank 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. 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 9.01), 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, e-mailed
..emailed pdf, or any other electronic means that reproduces an image of thean 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 any document to be signed in connection with this Agreement and the transactions contemplated
hereby, 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, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce
Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act; 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 Borrower or any other Loan Party 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 Borrower and each other Loan Party hereby (i) agrees 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, the Borrower and the other Loan Parties, Electronic Signatures transmitted by

  
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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,
(ii) agrees 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 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), (iii) waives 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 (iv) waives 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 Borrower and/or any other Loan Party to use any available security measures in connection with the execution, delivery or transmission of any Electronic
Signature. 
 SECTION 9.07. Severability. Any provision of any Loan
Document 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 thereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. 

SECTION 9.08. 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 the Borrower or any Subsidiary Guarantor against any of and all of the Obligations held by such Lender, irrespective of whether or not such
Lender shall have made any demand under the Loan Documents and although such obligations may be unmatured. 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. Each Lender and each Issuing Bank agrees to notify the Borrower and the Administrative Agent promptly after any such setoff and application; provided that the failure to give such notice shall not affect the validity of such setoff
and application. 
 SECTION 9.09. Governing Law; Jurisdiction; Consent to Service of Process. (a) This Agreement and the other
Loan Documents (except as otherwise expressly set forth in any such other Loan Document) shall be construed in accordance with and governed by the law of the State of New York. 

(b) Each of the Lenders and the Administrative Agent hereby irrevocably and unconditionally agrees that, notwithstanding the
governing law provisions of any applicable Loan Document, any claims brought against the Administrative Agent by any Lender relating to this Agreement, any other Loan Document or the consummation or administration of the transactions contemplated
hereby or thereby shall be construed in accordance with and governed by the law of the State of New York. 
 (c) The Borrower
hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of the United States District Court for the Southern District 

  
 92 

 
The Borrower shall consult with its own advisors concerning such matters and shall be responsible for making its own independent investigation and appraisal of the transactions contemplated
herein or in the other Loan Documents, and the Credit Parties shall have no responsibility or liability to the Borrower with respect thereto. 

(b) The Borrower further acknowledges and agrees, and acknowledges its Subsidiaries’ understanding, that each Credit
Party, together with its Affiliates, is a full service securities or banking firm engaged in securities trading and brokerage activities as well as providing investment banking and other financial services. In the ordinary course of business, any
Credit Party may provide investment banking and other financial services to, and/or acquire, hold or sell, for its own accounts and the accounts of customers, equity, debt and other securities and financial instruments (including bank loans and
other obligations) of, the Borrower, its Subsidiaries and other companies with which the Borrower or any of its Subsidiaries may have commercial or other relationships. With respect to any securities and/or financial instruments so held by any
Credit Party or any of its customers, all rights in respect of such securities and financial instruments, including any voting rights, will be exercised by the holder of the rights, in its sole discretion. 

(c) In addition, the Borrower acknowledges and agrees, and acknowledges its Subsidiaries’ understanding, that each Credit
Party and its Affiliates may be providing debt financing, equity capital or other services (including financial advisory services) to other companies in respect of which the Borrower or any of its Subsidiaries may have conflicting interests
regarding the transactions described herein and otherwise. No Credit Party will use confidential information obtained from the Borrower by virtue of the transactions contemplated by the Loan Documents or its other relationships with the Borrower in
connection with the performance by such Credit Party of services for other companies, and no Credit Party will furnish any such information to other companies. The Borrower also acknowledges that no Credit Party has any obligation to use in
connection with the transactions contemplated by the Loan Documents, or to furnish to the Borrower or any of its Subsidiaries, confidential information obtained from other companies. 

SECTION 9.17. Acknowledgement and Consent to Bail-In of
EEAAffected Financial Institutions. 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 EEAAffected 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 an EEAthe
applicable Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by: 
 (a)
the application of any Write-Down and Conversion Powers by an
EEAthe applicable Resolution Authority to any such liabilities arising hereunder which may be payable to
it by any party hereto that is an
EEAAffected Financial Institution;
and 
 (b) the effects of any Bail-In Action on any such liability, including, if applicable: 

(i) a reduction in full or in part or cancellation of any such liability; 

(ii) a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEAAffected 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 

  
 96 

 (iii) the variation of the terms of such liability in connection with the
exercise of the Write-Down and Conversion Powers of any
EEAthe applicable Resolution Authority. 

SECTION
9.18. Acknowledgement Regarding Any Supported QFCs. To the extent that the Loan Documents provide support, through a guarantee or otherwise, for Swap Agreements or any other agreement or instrument that is a QFC (such support “QFC Credit
Support” and each such QFC a “Supported QFC”), the parties acknowledge and agree as follows with respect to the resolution power of the Federal Deposit Insurance Corporation under the Federal Deposit Insurance Act and Title II of the
Dodd-Frank Wall Street Reform and Consumer Protection Act (together with the regulations promulgated thereunder, the “U.S. Special Resolution Regimes”) in respect of such Supported QFC and QFC Credit Support (with the provisions below
applicable notwithstanding that the Loan Documents and any Supported QFC may in fact be stated to be governed by the laws of the State of New York and/or of the United States or any other state of the United States): 

In the
event a Covered Entity that is party to a Supported QFC (each, a “Covered Party”) becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer of such Supported QFC and the benefit of such QFC Credit Support (and
any interest and obligation in or under such Supported QFC and such QFC Credit Support, and any rights in property securing such Supported QFC or such QFC Credit Support) from such Covered Party will be effective to the same extent as the transfer
would be effective under the U.S. Special Resolution Regime if the Supported QFC and such QFC Credit Support (and any such interest, obligation and rights in property) were governed by the laws of the United States or a state of the United States.
In the event a Covered Party or a BHC Act Affiliate of a Covered Party becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under the Loan Documents that might otherwise apply to such Supported QFC or any QFC Credit
Support that may be exercised against such Covered Party are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if the Supported QFC and the Loan Documents were
governed by the laws of the United States or a state of the United States. Without limitation of the foregoing, it is understood and agreed that rights and remedies of the parties with respect to a Defaulting Lender shall in no event affect the
rights of any Covered Party with respect to a Supported QFC or any QFC Credit Support. 

[Signature Pages Follow] 

  
 97 

 SCHEDULE 2.01A 

COMMITMENTS 
  

													
	 LENDER
	  	REVOLVING
COMMITMENT	 	  	TERM A-1 LOAN
COMMITMENT	 	  	TERM A-2 LOAN
COMMITMENT	 
	 JPMORGAN CHASE BANK, N.A.
	  	$	42,250,623.45	 	  	$	25,249,376.55	 	  	$	0	 
	 SUNTRUST
TRUIST BANK
(as successor by merger to SunTrust Bank)
	  	$	42,250,623.44	 	  	$	25,249,376.56	 	  	$	0	 
	 AGFIRST FARM CREDIT BANK
	  	$	48,000,000.00	 	  	$	0	 	  	$	220,000,000	 
	 KEYBANK NATIONAL ASSOCIATION
	  	$	28,480,049.88	 	  	$	17,019,950.12	 	  	$	0	 
	 CAPITAL ONE, NATIONAL ASSOCIATION
	  	$	28,480,049.88	 	  	$	17,019,950.12	 	  	$	0	 
	 BRANCH BANKING & TRUST COMPANY TRUIST BANK (formerly known as Branch Banking and Trust Company)
	  	$	21,907,730.67	 	  	$	13,092,269.33	 	  	$	0	 
	 FIRST TENNESSEE
HORIZON BANK NATIONAL ASSOCIATION
	  	$	21,907,730.67	 	  	$	13,092,269.33	 	  	$	0	 
	 UBS SWITZERLAND AG
	  	$	21,907,730.67	 	  	$	13,092,269.33	 	  	$	0	 
	 CITIBANK, N.A
	  	$	21,907,730.67	 	  	$	13,092,269.33	 	  	$	0	 
	 ATLANTIC
UNION BANK & TRUST
	  	$	21,907,730.67	 	  	$	13,092,269.33	 	  	$	0	 
	 FARM CREDIT BANK OF TEXAS
	  	$	35,000,000.00	 	  	$	0	 	  	$	0	 
	 COBANK, ACB
	  	$	33,000,000.00	 	  	$	0	 	  	$	0	 
	 FARM CREDIT MID-AMERICA, PCA
	  	$	30,000,000.00	 	  	$	0	 	  	$	0	 
	 GREENSTONE FARM CREDIT SERVICES, ACA
	  	$	17,000,000.00	 	  	$	0	 	  	$	0	 
	 NORTHWEST FARM CREDIT SERVICES, PCA
	  	$	16,000,000.00	 	  	$	0	 	  	$	0	 
	 AGGREGATE COMMITMENTS
	  	$	430,000,000	 	  	$	150,000,000	 	  	$	220,000,000	 

									
	LENDER	  	TERM A-1 2020 LOAN
COMMITMENT	 	  	TERM A-2 2020 LOAN
COMMITMENT	 
	 JPMORGAN CHASE
BANK, N.A.
	  	$	20,000,000	 	  	$	0	 
	 TRUIST BANK (as
successor by merger to SunTrust Bank)
	  	$	20,000,000	 	  	$	0	 
	 AGFIRST FARM
CREDIT BANK
	  	$	0	 	  	$	75,000,000	 
	
KEYBANK NATIONAL 
ASSOCIATION
	  	$	11,000,000	 	  	$	0	 
	
CAPITAL ONE, 
NATIONAL ASSOCIATION
	  	$	0	 	  	$	0	 
	 TRUIST BANK
(formerly known as Branch Banking and Trust Company)
	  	$	0	 	  	$	0	 
	 FIRST HORIZON
BANK
	  	$	8,000,000	 	  	$	0	 
	 UBS SWITZERLAND
AG
	  	$	8,000,000	 	  	$	0	 
	 CITIBANK,
N.A
	  	$	8,000,000	 	  	$	0	 
	 ATLANTIC UNION
BANK
	  	$	0	 	  	$	0	 
	 FARM CREDIT BANK
OF TEXAS
	  	$	0	 	  	$	0	 
	 COBANK,
ACB
	  	$	0	 	  	$	0	 
	
FARM CREDIT MID- 
AMERICA, PCA
	  	$	0	 	  	$	0	 
	
GREENSTONE FARM 
CREDIT SERVICES, ACA
	  	$	0	 	  	$	0	 
	
NORTHWEST FARM 
CREDIT SERVICES, PCA
	  	$	0	 	  	$	0	 
	 AGGREGATE
COMMITMENTS
	  	$	75,000,000	 	  	$	75,000,000	 

  

  
 2 

 SCHEDULE 2.01B 

LETTER OF CREDIT COMMITMENTS 
  

					
	 LENDER
	  	LETTER OF CREDIT
COMMITMENT	 
	 JPMORGAN CHASE BANK, N.A.
	  	$	8,333,334	 
	 SUNTRUST
TRUIST BANK
	  	$	8,333,333	 
	 AGFIRST FARM CREDIT BANK
	  	$	8,333,333	 
	 TOTAL LETTER OF CREDIT COMMITMENTS
	  	$	25,000,000

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