Document:

Exhibit

Exhibit 10.1

ONEMAIN HOLDINGS, INC.

AMENDED AND RESTATED 2013 OMNIBUS INCENTIVE PLAN

Section 1.    Purpose of Plan.

The name of the Plan is the OneMain Holdings, Inc. Amended and Restated 2013 Omnibus Incentive Plan (the "Plan"). The purposes of the Plan are to provide an additional incentive to selected management employees, directors, independent contractors, and consultants of the Company or its Affiliates (as hereinafter defined) whose contributions are essential to the growth and success of the Company's business, in order to strengthen the commitment of such persons to the Company and its Affiliates, motivate such persons to faithfully and diligently perform their responsibilities and attract and retain competent and dedicated persons whose efforts will result in the long-term growth and profitability of the Company. To accomplish such purposes, the Plan provides that the Company may grant Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Stock Bonuses, Other Stock-Based Awards, Cash Awards or any combination of the foregoing.

Section 2.    Definitions.

For purposes of the Plan, the following terms shall be defined as set forth below:
(a)   "Administrator" means the Board, or, if and to the extent the Board does not administer the Plan, the Committee in accordance with Section 3 hereof.
(b)   "Affiliate" means a Person that directly, or indirectly through one or more intermediaries, controls, or is controlled by, or is under common control with, the Person specified. An entity shall be deemed an Affiliate of the Company for purposes of this definition only for such periods as the requisite ownership or control relationship is maintained.
(c)   "Award" means any Option, Stock Appreciation Right, Restricted Stock, Restricted Stock Unit, Stock Bonus, Other Stock-Based Award or Cash Award granted under the Plan.
(d)   "Award Agreement" means any written agreement, contract or other instrument or document evidencing an Award.
(e)   "Base Price" has the meaning set forth in Section 8(b) hereof.
(f)    "Board" means the Board of Directors of the Company.
(g)   "By-Laws" means the by-laws of the Company, as may be amended and/or restated from time to time.
(h)   "Cash Award" means an Award granted pursuant to Section 12 hereof.
(i)    "Cause" has the meaning assigned to such term in any individual employment or severance agreement or Award Agreement with the Participant or, if no such agreement exists or if such agreement does not define "Cause," Cause means (i) the commission of an act of fraud or dishonesty by the Participant in the course of the Participant's employment; (ii) the indictment of, or entering of a plea of nolo contendere by, the Participant for a crime constituting a felony or in respect of any act of fraud or dishonesty; (iii) the commission of an act by the Participant which would make the Participant or the Company (including any of its Subsidiaries or Affiliates) subject to being enjoined, suspended, barred or otherwise disciplined for violation of federal or state securities laws, rules or regulations, including a statutory disqualification; (iv) gross negligence or willful misconduct in connection with the Participant's performance of his or her duties in connection with the Participant's employment by the Company (including any Subsidiary or Affiliate for whom the Participant may be employed on a full-time basis at the time) or the Participant's failure to comply with any of the restrictive covenants to which the Participant is subject; (v) the Participant's willful failure to comply with any material policies or procedures of the Company as in effect from time to time, provided that the Participant shall have been delivered a copy of such policies or notice that they have been posted on a Company website prior to such compliance failure; or (vi) the Participant's failure to perform the material duties in connection with the Participant's position, unless the Participant remedies such failure no later than 10 days following delivery to the 

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Participant of a written notice from the Company (including any of its Subsidiaries or Affiliates) describing such failure in reasonable detail (provided that the Participant shall not be given more than one opportunity in the aggregate to remedy failures described in this clause (vi)).
(j)    "Certificate of Incorporation" means the amended and restated certificate of incorporation of the Company, as may be further amended and/or restated from time to time.
(k)   "Change in Capitalization" means any (1) merger, consolidation, reclassification, recapitalization, spin-off, spin-out, repurchase or other reorganization or corporate transaction or event, (2) special or extraordinary dividend or other extraordinary distribution (whether in the form of cash, Common Stock, or other property), stock split, reverse stock split, subdivision or consolidation, (3) combination or exchange of shares, or (4) other change in corporate structure, which, in any such case, the Committee determines, in its sole discretion, affects the Common Stock such that an adjustment pursuant to Section 5 hereof is appropriate.
(l)    "Change in Control" shall mean an event or series of events after which Fortress Investment Group LLC and its Affiliates collectively directly or indirectly legally or beneficially own less than 40% of the voting stock (or other voting equity interests) of the Company; provided, however, that a "Change in Control" shall not be deemed to occur upon the occurrence of either of the following events:
(1)   upon an acquisition, merger, amalgamation, continuation into another jurisdiction or other business combination involving the Company, including the sale of all or substantially all of the assets of the Company (each, a "Business Combination"), if one or more Fortress Entities collectively:
(i)  directly or indirectly legally or beneficially own at least 30% of the voting stock (or other voting equity interests) of the Company or the surviving/acquiring entity, as the case may be, and
(ii)  continue to be the largest stockholder (or other holder of equity) of the Company or the surviving/acquiring entity, as the case may be, following such Business Combination, and a "Change in Control" will not result after any such Business Combination so long as (but only so long as) the conditions set forth in clause (i) and this clause (ii) continue to be satisfied; or
(2)   (I) upon an initial public offering of the voting stock or other equity interests of SHI or any direct or indirect parent of the Company (without regard to the percentage of voting stock or other equity interests of the Company or such other entity directly or indirectly legally or beneficially owned by the Fortress Entities immediately after such offering) or (II) without limiting clause (I), if at any time following such initial public offering, one or more Fortress Entities collectively directly or indirectly legally or beneficially own at least 30% of the voting stock (or other voting equity interests) of the Company or such direct or indirect parent and are the largest stockholder (or other holder of equity) of the Company or such direct or indirect parent.
Notwithstanding the foregoing, for each Award that constitutes deferred compensation under Section 409A of the Code, and to the extent required to avoid accelerated taxation and/or tax penalties under Section 409A of the Code, a Change in Control shall be deemed to have occurred under the Plan with respect to such Award only if a change in the ownership or effective control of the Company or a change in ownership of a substantial portion of the assets of the Company shall also be deemed to have occurred under Section 409A of the Code.
(m)  "Code" means the Internal Revenue Code of 1986, as amended from time to time, or any successor thereto.
(n)   "Committee" means any committee or subcommittee the Board may appoint to administer the Plan. Subject to the discretion of the Board, the Committee shall be composed entirely of individuals who meet the qualifications of an "outside director" within the meaning of Section 162 (m) of the Code, a "non-employee director" within the meaning of Rule 16b-3 and any other qualifications required by the applicable stock exchange on which the Common Stock is traded. If at any time or to any extent the Board shall not administer the Plan, then the functions of the Administrator specified in the Plan shall be exercised by the Committee. Except as otherwise provided in the Certificate of Incorporation or By-laws of the Company, any action of the Committee with respect to the administration of the Plan shall be taken by a majority vote at a meeting at which a quorum is duly constituted or unanimous written consent of the Committee's members.
(o)   "Common Stock" means the common stock, par value $0.01 per share, of the Company.
(p)   "Company" means OneMain Holdings, Inc., a Delaware corporation (or any successor company, except as the term "Company" is used in the definition of "Change in Control" above).
(q)   "Covered Employee" has the meaning ascribed to the term "covered employee" set forth in Section 162(m) of the Code.

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(r)   "Disability" means, with respect to any Participant, that such Participant (i) as determined by the Administrator in its sole discretion, is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months, or (ii) is, by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months, receiving income replacement benefits for a period of not less than three (3) months under an accident and health plan covering employees of the Company or an Affiliate thereof.
(s)   "Effective Date" has the meaning set forth in Section 21 hereof.
(t)    "Eligible Recipient" means an officer, employee, non-employee director, independent contractor or consultant of the Company or any Affiliate of the Company who has been selected as an eligible participant by the Administrator; provided, however, to the extent required to avoid accelerated taxation and/or tax penalties under Section 409A of the Code, an Eligible Recipient of an Option or a Stock Appreciation Right means an employee, director, independent contractor or consultant of the Company or any Subsidiary of the Company who has been selected as an eligible participant by the Administrator.
(u)   "Exchange Act" means the Securities Exchange Act of 1934, as amended from time to time.
(v)   "Exercise Price" means, with respect to any Option, the per share price at which a holder of such Option may purchase such shares of Common Stock issuable upon the exercise of such Option.
(w)  "Fair Market Value" as of a particular date shall mean the fair market value as determined by the Administrator in its sole discretion; provided, however, (i) if the Common Stock or other security is admitted to trading on a national securities exchange, the fair market value on any date shall be the closing sale price reported on such date, or (ii) if the Common Stock or other security is then traded in an over-the-counter market, the fair market value on any date shall be the average of the closing bid and asked prices for such share in such over-the-counter market for the last preceding date on which there was a sale of such share in such market.
(x)   "Fortress Entities" shall mean Fortress Investment Group LLC and its Affiliates.
(y)   "Free Standing Right" has the meaning set forth in Section 8(a) hereof.
(z)   "Option" means an option to purchase shares of Common Stock granted pursuant to Section 7 hereof.
(aa) "Other Stock-Based Award" means an Award granted pursuant to Section 10 hereof.
(bb) "Participant" means any Eligible Recipient selected by the Administrator, pursuant to the Administrator's authority provided for in Section 3 below, to receive grants of Awards, and, upon his or her death, his or her successors, heirs, executors and administrators, as the case may be.
(cc) "Performance Goals" means performance goals based on one or more of the following criteria: (i) earnings, including one or more of operating income, net operating income, earnings before or after taxes, earnings before or after interest, depreciation, amortization, adjusted EBITDA, economic earnings, or extraordinary or special items or book value per share (which may exclude nonrecurring items); (ii) pre-tax income or after-tax income; (iii) earnings per share (basic or diluted); (iv) operating profit; (v) revenue, revenue growth or rate of revenue growth; (vi) return on assets (gross or net), return on investment, return on capital, or return on equity; (vii) returns on sales or revenues; (viii) operating expenses; (ix) stock price appreciation; (x) cash flow, free cash flow, cash flow return on investment (discounted or otherwise), net cash provided by operations, or cash flow in excess of cost of capital; (xi) implementation or completion of critical projects or processes; (xii) cumulative earnings per share growth; (xiii) operating margin or profit margin; (xiv) cost targets, reductions and savings, productivity and efficiencies; (xv) strategic business criteria, consisting of one or more objectives based on meeting specified market penetration, geographic business expansion, customer satisfaction, employee satisfaction, human resources management, supervision of litigation, information technology, and goals relating to acquisitions, divestitures, joint ventures and similar transactions, and budget comparisons; (xvi) personal professional objectives, including any of the foregoing performance goals, the implementation of policies and plans, the negotiation of transactions, the development of long term business goals, formation of joint ventures, research or development collaborations, and the completion of other corporate transactions; and (xvii) any combination of, or a specified increase in, any of the foregoing. Where applicable, the Performance Goals may be expressed in terms of attaining a specified level of the particular criteria or the attainment of a percentage increase or decrease in the particular criteria, and may be applied to one or more of the Company or any Affiliate thereof, or a division or strategic business unit of the Company or any Affiliate thereof, or may be applied to the performance of the Company relative to a market index, a group of other companies or a combination thereof, all as determined by the Administrator. The Performance Goals may include a threshold level of performance below which no payment shall be made (or no vesting shall occur), levels of performance at which specified payments shall be made (or specified vesting shall occur), 

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and a maximum level of performance above which no additional payment shall be made (or at which full vesting shall occur). Each of the foregoing Performance Goals shall be determined in accordance with generally accepted accounting principles (to the extent applicable) and shall be subject to certification by the Administrator; provided, that, to the extent permitted by Section 162(m) of the Code to the extent applicable, the Administrator shall have the authority to make equitable adjustments to the Performance Goals in recognition of unusual or non-recurring events affecting the Company or any Affiliate thereof or the financial statements of the Company or any Affiliate thereof, in response to changes in applicable laws or regulations, or to account for items of gain, loss or expense determined to be extraordinary or unusual in nature or infrequent in occurrence or related to the disposal of a segment of a business or related to a change in accounting principles.
(dd) "Person" has the meaning given in Section 3(a)(9) of the Exchange Act, as modified and used in Sections 13(d) and 14(d) thereof, except that such term shall not include (i) the Company or any Affiliate thereof, (ii) a trustee or other fiduciary holding securities under an employee benefit plan of the Company or any Affiliate thereof, (iii) an underwriter temporarily holding securities pursuant to an offering of such securities, or (iv) a corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company.
(ee) "Plan" has the meaning set forth in Section 1 hereof.
(ff)  "Related Right" has the meaning set forth in Section 8(a) hereof.
(gg) "Restricted Stock" means Shares granted pursuant to Section 9 below subject to certain restrictions that lapse at the end of a specified period or periods.
(hh) "Restricted Stock Unit" means the right, granted pursuant to Section 9 below, to receive the Fair Market Value of a share of Common Stock or, in the case of an Award denominated in cash, to receive the amount of cash per unit that is determined by the Administrator in connection with the Award.
(ii)   "Retirement" means a termination of a Participant's employment, other than for Cause, on or after the attainment of age 65.
(jj)   "Rule 16b-3" has the meaning set forth in Section 3(a) hereof.
(kk) "Shares" means Common Stock reserved for issuance under the Plan, as adjusted pursuant to the Plan, and any successor (pursuant to a merger, consolidation or other reorganization) security.
(ll)   "Stock Appreciation Right" means the right to receive, upon exercise of the right, the applicable amounts as described in Section 8.
(mm)  "Stock Bonus" means a bonus payable in fully vested shares of Common Stock granted pursuant to Section 11 hereof.
(nn) "Subsidiary" means, with respect to any Person, as of any date of determination, any other Person as to which such first Person owns or otherwise controls, directly or indirectly, more than 50% of the voting shares or other similar interests or a sole general partner interest or managing member or similar interest of such other Person. An entity shall be deemed a Subsidiary of the Company for purposes of this definition only for such periods as the requisite ownership or control relationship is maintained.
(oo) "Transfer" has the meaning set forth in Section 19 hereof.

Section 3.    Administration.

(a)   The Plan shall be administered by the Administrator and shall be administered in accordance with the requirements of Section 162(m) of the Code (but only to the extent necessary and desirable to maintain qualification of awards under the Plan under Section 162(m) of the Code) and, to the extent applicable, Rule 16b-3 under the Exchange Act ("Rule 16b-3"). The Plan is intended to comply, and shall be administered in a manner that is intended to comply, with Section 409A of the Code and shall be construed and interpreted in accordance with such intent. To the extent that an Award, issuance and/or payment is subject to Section 409A of the Code, it shall be awarded and/or issued or paid in a manner that will comply with Section 409A of the Code, including any applicable regulations or guidance issued by the Secretary of the United States Treasury Department and the Internal Revenue Service with respect thereto.
(b)   Pursuant to the terms of the Plan, the Administrator, subject, in the case of any Committee, to any restrictions on the authority delegated to it by the Board, shall have the power and authority, without limitation:

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(1)   to select those Eligible Recipients who shall be Participants;
(2)   to determine whether and to what extent Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Stock Bonuses, Other Stock-Based Awards, Cash Awards or a combination of any of the foregoing, are to be granted hereunder to Participants;
(3)   to determine the number of Shares to be covered by each Award granted hereunder;
(4)   to determine the terms and conditions, not inconsistent with the terms of the Plan, of each Award granted hereunder (including, but not limited to, (i) the restrictions applicable to Restricted Stock or Restricted Stock Units and the conditions under which restrictions applicable to such Restricted Stock or Restricted Stock Units shall lapse, (ii) the performance goals and periods applicable to Awards, (iii) the Exercise Price of each Option and Base Price of each Stock Appreciation Right, (iv) the vesting schedule applicable to each Award, (v) the number of Shares or amount of cash or other property subject to each Award and (vi) subject to the requirements of Section 409A of the Code (to the extent applicable), any amendments to the terms and conditions of outstanding Awards, including, but not limited to, extending the exercise period of such Awards and accelerating the vesting schedule of such Awards), and, if the Administrator in its discretion determines to accelerate the vesting of Options and/or Stock Appreciation Rights in connection with a Change in Control, the Administrator shall also have discretion in connection with such action to provide that all Options and/or Stock Appreciation Rights outstanding immediately prior to such Change in Control shall expire on the effective date of such Change in Control;
(5)   to determine the terms and conditions, not inconsistent with the terms of the Plan, which shall govern all written instruments evidencing Awards;
(6)   to determine the Fair Market Value in accordance with the terms of the Plan;
(7)   to determine the duration and purpose of leaves of absence which may be granted to a Participant without constituting termination of the Participant's employment for purposes of Awards granted under the Plan;
(8)   to adopt, alter and repeal such administrative rules, guidelines and practices governing the Plan, and any sub-plans subject to the terms of the Plan, as it shall from time to time deem advisable; and
(9)   to construe and interpret the terms and provisions of the Plan and any Award issued under the Plan (and any Award Agreement relating thereto), and to otherwise supervise the administration of the Plan and to exercise all powers and authorities either specifically granted under the Plan or necessary and advisable in the administration of the Plan.
(c)   All decisions made by the Administrator pursuant to the provisions of the Plan shall be final, conclusive and binding on all persons, including the Company and the Participants. No member of the Board or the Committee, nor any officer or employee of the Company or any Subsidiary thereof acting on behalf of the Board or the Committee, shall be personally liable for any action, omission, determination, or interpretation taken or made in good faith with respect to the Plan, and all members of the Board or the Committee and each and any officer or employee of the Company and of any Subsidiary thereof acting on their behalf shall, to the maximum extent permitted by law, be fully indemnified and protected by the Company in respect of any such action, omission, determination or interpretation.

Section 4.    Shares Reserved for Issuance; Certain Limitations.

(a)   The maximum number of shares of Common Stock reserved for issuance under the Plan shall be 11,478,844 shares (subject to adjustment as provided by Section 5), as increased on the first day of each fiscal year beginning in calendar year 2017 by a number of shares of Common Stock equal to (x) the excess, if any, of 10% of the number of outstanding shares of Common Stock on the last day of the immediately preceding fiscal year over (y) the number of shares of Common Stock reserved and available for issuance in respect of future grants of Awards under the Plan as of the last day of the immediately preceding fiscal year.
(b)   Notwithstanding anything in this Plan to the contrary, and subject to adjustment as provided by Section 5, from and after such time as the Plan is subject to Section 162(m) of the Code:
(1)   No individual (including an individual who is likely to be a Covered Employee) will be granted Options or Stock Appreciation Rights for more than the number of shares of Common Stock reserved under Section 4(a) during any calendar year.
(2)   No individual who is likely to be a Covered Employee with respect to a calendar year will be granted (A) Restricted Stock, Restricted Stock Units, a Stock Bonus or Other Stock-Based Awards for more than the number of shares 

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of Common Stock reserved under Section 4(a) during any calendar year or (B) a Cash Award in cash in excess of $15,000,000 during any calendar year.
(c)   No Participant who is a non-employee director of the Company will be granted Awards valued at more than $500,000 during any calendar year (with Cash Awards measured for this purpose by their value upon payment and any other Awards measured for this purpose at their grant date fair value as determined for the Company's financial reporting purposes).
(d)   Shares issued under the Plan may, in whole or in part, be authorized but unissued Shares or Shares that shall have been or may be reacquired by the Company in the open market, in private transactions or otherwise. If any Shares subject to an Award are forfeited, cancelled, exchanged or surrendered or if an Award otherwise terminates or expires without a distribution of shares to the Participant, the Shares with respect to such Award shall, to the extent of any such forfeiture, cancellation, exchange, surrender, termination or expiration, again be available for Awards under the Plan. Notwithstanding the foregoing, Shares that are exchanged by a Participant or withheld by the Company as full or partial payment in connection with any Option or Stock Appreciation Right under the Plan, as well as any Shares exchanged by a Participant or withheld by the Company or any Subsidiary to satisfy the tax withholding obligations related to any Option or Stock Appreciation Right under the Plan, shall not be available for subsequent Awards under the Plan, and notwithstanding that a Stock Appreciation Right is settled by the delivery of a net number of shares of Common Stock, the full number of shares of Common Stock underlying such Stock Appreciation Right shall not be available for subsequent Awards under the Plan. Upon the exercise of any Award granted in tandem with any other Awards, such related Awards shall be cancelled to the extent of the number of Shares as to which the Award is exercised and, notwithstanding the foregoing, such number of shares shall no longer be available for Awards under the Plan. In addition, (i) to the extent an Award is denominated in shares of Common Stock, but paid or settled in cash, the number of shares of Common Stock with respect to which such payment or settlement is made shall again be available for grants of Awards pursuant to the Plan and (ii) shares of Common Stock underlying Awards that can only be settled in cash shall not be counted against the aggregate number of shares of Common Stock available for Awards under the Plan.

Section 5.    Equitable Adjustments.

(a)   In the event of any Change in Capitalization, an equitable substitution or proportionate adjustment shall be made, in each case, as may be determined by the Administrator, in its sole discretion, in (i) the aggregate number of shares of Common Stock reserved for issuance under the Plan and the maximum number of shares of Common Stock or cash that may be subject to Awards granted to any Participant in any calendar year, (ii) the kind and number of securities subject to, and the Exercise Price or Base Price of, any outstanding Options and Stock Appreciation Rights granted under the Plan, and (iii) the kind, number and purchase price of shares of Common Stock, or the amount of cash or amount or type of other property, subject to outstanding Restricted Stock, Restricted Stock Units, Stock Bonuses and Other Stock-Based Awards granted under the Plan; provided, however, that any fractional shares resulting from the adjustment shall be eliminated. Such other equitable substitutions or adjustments shall be made as may be determined by the Administrator, in its sole discretion.
(b)   Without limiting the generality of the foregoing, in connection with a Change in Capitalization, the Administrator may provide, in its sole discretion, for the cancellation of any outstanding Award granted hereunder in exchange for payment in cash or other property having an aggregate Fair Market Value equal to the Fair Market Value of the shares of Common Stock, cash or other property covered by such Award, reduced by the aggregate Exercise Price or Base Price thereof, if any; provided, however, that if the Exercise Price or Base Price of any outstanding Award is equal to or greater than the Fair Market Value of the shares of Common Stock, cash or other property covered by such Award, the Board may cancel such Award without the payment of any consideration to the Participant.
(c)   The Administrator's determinations pursuant to this Section 5 shall be final, binding and conclusive.

Section 6.    Eligibility.

The Participants under the Plan shall be selected from time to time by the Administrator, in its sole discretion, from those individuals that qualify as Eligible Recipients.

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Section 7.    Options.

(a)   General. Each Participant who is granted an Option shall enter into an Award Agreement with the Company, containing such terms and conditions as the Administrator shall determine, in its sole discretion, which Award Agreement shall set forth, among other things, the Exercise Price of the Option, the term of the Option and provisions regarding exercisability of the Option. Notwithstanding the foregoing, the prospective recipient of an Option shall not have any rights with respect to such Award, unless and until such recipient has executed an Award Agreement and delivered a fully executed copy thereof to the Company, within a period of sixty (60) days (or such other period as the Administrator may specify) after the award date. The provisions of each Option need not be the same with respect to each Participant. More than one Option may be granted to the same Participant and be outstanding concurrently hereunder. Options granted under the Plan shall be subject to the terms and conditions set forth in this Section 7 and shall contain such additional terms and conditions, not inconsistent with the terms of the Plan, as the Administrator shall deem desirable and set forth in the applicable Award Agreement. Each Option granted hereunder is intended to be a non-qualified Option and is not intended to qualify as an "incentive stock option" within the meaning of Section 422 of the Code.
(b)   Exercise Price. The Exercise Price of Shares purchasable under an Option shall be determined by the Administrator in its sole discretion at the time of grant, but in no event shall the exercise price of an Option be less than one hundred percent (100%) of the Fair Market Value of the related shares of Common Stock on the date of grant.
(c)   Option Term. The maximum term of each Option shall be fixed by the Administrator, but no Option shall be exercisable more than ten (10) years after the date such Option is granted. Each Option's term is subject to earlier expiration pursuant to the applicable provisions in the Plan and the Award Agreement. Notwithstanding the foregoing, the Administrator shall have the authority to accelerate the exercisability of any outstanding Option at such time and under such circumstances as the Administrator, in its sole discretion, deems appropriate.
(d)   Exercisability. Each Option shall be exercisable at such time or times and subject to such terms and conditions, including the attainment of pre-established performance goals, as shall be determined by the Administrator in the applicable Award Agreement. The Administrator may also provide that any Option shall be exercisable only in installments, and the Administrator may waive such installment exercise provisions at any time, in whole or in part, based on such factors as the Administrator may determine in its sole discretion. Notwithstanding anything to the contrary contained herein, an Option may not be exercised for a fraction of a share.
(e)   Method of Exercise. Options may be exercised in whole or in part by giving written notice of exercise to the Company specifying the number of whole Shares to be purchased, accompanied by payment in full of the aggregate Exercise Price of the Shares so purchased in cash or its equivalent, as determined by the Administrator. As determined by the Administrator, in its sole discretion, with respect to any Option or category of Options, payment in whole or in part may also be made (i) by means of consideration received under any cashless exercise procedure approved by the Administrator (including the withholding of Shares otherwise issuable upon exercise), (ii) in the form of unrestricted Shares already owned by the Participant which, (x) in the case of unrestricted Shares acquired upon exercise of an Option, have been owned by the Participant for more than six (6) months on the date of surrender, and (y) have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to which such Option shall be exercised, (iii) any other form of consideration approved by the Administrator and permitted by applicable law or (iv) any combination of the foregoing.
(f)    Rights as Stockholder. A Participant shall have no rights to dividends or distributions or any other rights of a stockholder with respect to the Shares subject to an Option until the Participant has given written notice of the exercise thereof, has paid in full for such Shares and has satisfied the requirements of Section 17 hereof.
(g)   Termination of Employment or Service. Unless the applicable Award Agreement provides otherwise, in the event that the employment or service of a Participant with the Company and all Affiliates thereof shall terminate, any Options then held by the Participant shall be treated as follows:
(1)   If such termination is for any reason other than Cause, Retirement, Disability, or death (including a termination by reason of the employer of the Participant ceasing to be a Subsidiary or Affiliate of the Company, as applicable), (A) Options granted to such Participant, to the extent that they are exercisable at the time of such termination, shall remain exercisable until the date that is ninety (90) days after such termination, on which date they shall expire, and (B) Options granted to such Participant, to the extent that they were not exercisable at the time of such termination, shall expire at the close of business on the date of such termination. The ninety (90) day period described in this Section 7(g)(1) shall be extended to one (1) year after the date of such termination in the event of the Participant's death during such ninety (90) day period. Notwithstanding the foregoing, no Option shall be exercisable after the expiration of its term.

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(2)   If such termination is on account of the Retirement, Disability, or death of the Participant, (A) Options granted to such Participant, to the extent that they were exercisable at the time of such termination, shall remain exercisable until the date that is one (1) year after such termination, on which date they shall expire and (B) Options granted to such Participant, to the extent that they were not exercisable at the time of such termination, shall expire at the close of business on the date of such termination. Notwithstanding the foregoing, no Option shall be exercisable after the expiration of its term.
(3)   If such termination is for Cause, all outstanding Options granted to such Participant (whether exercisable or not immediately prior to such termination) shall expire at the commencement of business on the date of such termination.
(h)   Other Change in Employment Status. An Option shall be affected, both with regard to vesting schedule and termination, by leaves of absence, changes from full-time to part-time employment, partial disability or other changes in the employment status of an Participant, in the discretion of the Administrator.

Section 8.    Stock Appreciation Rights.

(a)   General. Stock Appreciation Rights may be granted either alone ("Free Standing Rights") or in conjunction with all or part of any Option granted under the Plan ("Related Rights"). Related Rights may be granted either at or after the time of the grant of such Option. The Administrator shall determine the Eligible Recipients to whom, and the time or times at which, grants of Stock Appreciation Rights shall be made, the number of Shares to be awarded, Base Price, and all other conditions of Stock Appreciation Rights. Notwithstanding the foregoing, no Related Right may be granted for more Shares than are subject to the Option to which it relates. The provisions of Stock Appreciation Rights need not be the same with respect to each Participant. Stock Appreciation Rights granted under the Plan shall be subject to the following terms and conditions set forth in this Section 8 and shall contain such additional terms and conditions, not inconsistent with the terms of the Plan, as the Administrator shall deem desirable, as set forth in the applicable Award Agreement.
(b)   Base Price. Each Stock Appreciation Right shall be granted with a base price that is not less than one hundred percent (100%) of the Fair Market Value of the related shares of Common Stock on the date of grant (such amount, the "Base Price").
(c)   Awards; Rights as Stockholder. The prospective recipient of a Stock Appreciation Right shall not have any rights with respect to such Award, unless and until such recipient has executed an Award Agreement and delivered a fully executed copy thereof to the Company, within a period of sixty (60) days (or such other period as the Administrator may specify) after the award date. A Participant shall have no rights to dividends or any other rights of a stockholder with respect to the shares of Common Stock, if any, subject to a Stock Appreciation Right until the Participant has given written notice of the exercise thereof and has satisfied the requirements of Section 17 hereof.
(d)   Exercisability.
(1)   Stock Appreciation Rights that are Free Standing Rights shall be exercisable at such time or times and subject to such terms and conditions as shall be determined by the Administrator in the applicable Award Agreement.
(2)   Stock Appreciation Rights that are Related Rights shall be exercisable only at such time or times and to the extent that the Options to which they relate shall be exercisable in accordance with the provisions of Section 7 hereof and this Section 8 of the Plan.
(e)   Consideration Upon Exercise.
(1)   Upon the exercise of a Free Standing Right, the Participant shall be entitled to receive up to, but not more than, that number of Shares equal in value to (i) the excess of the Fair Market Value as of the date of exercise over the Base Price per share specified in the Free Standing Right, multiplied by (ii) the number of Shares in respect of which the Free Standing Right is being exercised.
(2)   A Related Right may be exercised by a Participant by surrendering the applicable portion of the related Option. Upon such exercise and surrender, the Participant shall be entitled to receive up to, but not more than, that number of Shares equal in value to (i) the excess of the Fair Market Value as of the date of exercise over the Exercise Price specified in the related Option, multiplied by (ii) the number of Shares in respect of which the Related Right is being exercised. Options which have been so surrendered, in whole or in part, shall no longer be exercisable to the extent the Related Rights have been so exercised.
(3)   Notwithstanding the foregoing, the Administrator may determine to settle the exercise of a Stock Appreciation Right in cash (or in any combination of Shares and cash).

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(f)    Termination of Employment or Service.
(1)   Unless the applicable Award Agreement provides otherwise, in the event that the employment or service of a Participant with the Company and all Affiliates thereof shall terminate, any Free Standing Rights then held by the Participant shall be treated as follows:
(i)  If such termination is for any reason other than Cause, Retirement, Disability, or death (including a termination by reason of the employer of the Participant ceasing to be a Subsidiary or Affiliate of the Company, as applicable), (A) Free Standing Rights granted to such Participant, to the extent that they are exercisable at the time of such termination, shall remain exercisable until the date that is ninety (90) days after such termination, on which date they shall expire, and (B) Free Standing Rights granted to such Participant, to the extent that they were not exercisable at the time of such termination, shall expire at the close of business on the date of such termination. The ninety (90) day period described in this Section 8(f)(1) shall be extended to one (1) year after the date of such termination in the event of the Participant's death during such ninety (90) day period. Notwithstanding the foregoing, no Free Standing Rights shall be exercisable after the expiration of its term.
(ii)  If such termination is a result of the Retirement, Disability, or death of the Participant, (A) Free Standing Rights granted to such Participant, to the extent that they were exercisable at the time of such termination, shall remain exercisable until the date that is one (1) year after such termination, on which date they shall expire and (B) Free Standing Rights granted to such Participant, to the extent that they were not exercisable at the time of such termination, shall expire at the close of business on the date of such termination. Notwithstanding the foregoing, no Free Standing Rights shall be exercisable after the expiration of its term.
(iii)  If such termination is for Cause, all outstanding Free Standing Rights granted to such Participant (whether exercisable or not immediately prior to such termination) shall expire at the commencement of business on the date of such termination.
(2)   In the event of the termination of employment or service with the Company and all Affiliates thereof of a Participant who has been granted one or more Related Rights, such rights shall be exercisable at such time or times and subject to such terms and conditions as set forth in the related Options.
(g)   Term.
(1)   The term of each Free Standing Right shall be fixed by the Administrator, but no Free Standing Right shall be exercisable more than ten (10) years after the date such right is granted.
(2)   The term of each Related Right shall be the term of the Option to which it relates, but no Related Right shall be exercisable more than ten (10) years after the date such right is granted.

Section 9.    Restricted Stock and Restricted Stock Units.

(a)   General. Restricted Stock and Restricted Stock Units may be issued either alone or in addition to other awards granted under the Plan. The Administrator shall determine the Eligible Recipients to whom, and the time or times at which, Restricted Stock or Restricted Stock Units shall be made; the number of Shares to be awarded; the price, if any, to be paid by the Participant for the acquisition of Restricted Stock or Restricted Stock Units; the period of time prior to which Restricted Stock or Restricted Stock Units become vested and free of restrictions on Transfer (the "Restricted Period"); the performance objectives (if any); and all other conditions of the Restricted Stock and Restricted Stock Units. If the restrictions, performance objectives and/or conditions established by the Administrator are not attained, a Participant shall forfeit his or her Restricted Stock or Restricted Stock Units, in accordance with the terms of the grant. The provisions of Restricted Stock or Restricted Stock Units need not be the same with respect to each Participant.
(b)   Awards and Certificates.
(1)   The prospective recipient of Restricted Stock or Restricted Stock Units shall not have any rights with respect to any such award, unless and until such recipient has executed an Award Agreement and delivered a fully executed copy thereof to the Company, within a period of sixty (60) days (or such other period as the Administrator may specify) after the award date.
(2)   Except as otherwise provided below in Section 9(c), (i) each Participant who is granted an award of Restricted Stock may, in the Company's sole discretion, be issued a stock certificate in respect of such Restricted Stock; and (ii) any such certificate so issued shall be registered in the name of the Participant, and shall bear an appropriate legend referring to the terms, conditions, and restrictions applicable to any such Award. The Company may require that the stock certificates, if any, 

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evidencing Restricted Stock be held in the custody of the Company until the restrictions thereon shall have lapsed, and that, as a condition of any award of Restricted Stock, the Participant shall have delivered a stock transfer form, endorsed in blank, relating to the Shares covered by such award.
(3)   With respect to Restricted Stock Units, at the expiration of the Restricted Period, stock certificates in respect of such shares of Restricted Stock Units may, in the Company's sole discretion, be delivered to the Participant, or his legal representative, in a number equal to the number of Shares covered by the Restricted Stock Units.
(4)   Notwithstanding anything in the Plan to the contrary, any Restricted Stock or Restricted Stock Units (at the expiration of the Restricted Period) may, in the Company's sole discretion, be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form.
(5)   Further, notwithstanding anything in the Plan to the contrary, with respect to Restricted Stock Units, at the expiration of the Restricted Period, Shares shall promptly be issued (either in certificated or uncertificated form) to the Participant, unless otherwise deferred in accordance with procedures established by the Company in accordance with Section 409A of the Code, and such issuance shall in any event be made within such period as is required to avoid accelerated taxation and/or tax penalties under Section 409A of the Code.
(c)   Restrictions and Conditions. The Restricted Stock and Restricted Stock Units granted pursuant to this Section 9 shall be subject to the following restrictions and conditions and any additional restrictions or conditions as determined by the Administrator at the time of grant or, subject to Section 409A of the Code where applicable, thereafter:
(1)   The Administrator may, in its sole discretion, provide for the lapse of restrictions in installments and may accelerate or waive such restrictions in whole or in part based on such factors and such circumstances as the Administrator may determine, in its sole discretion, including, but not limited to, the attainment of certain performance related goals, the Participant's termination of employment or service as an officer, director, independent contractor or consultant to the Company or any Affiliate thereof, or the Participant's death or Disability; provided, however, that this sentence shall not apply to any Award which is intended to qualify as "performance-based compensation" under Section 162(m) of the Code. Notwithstanding the foregoing, upon a Change in Control, the outstanding Awards shall be subject to Section 14 hereof.
(2)   Except as provided in Section 18 or in the applicable Award Agreement, the Participant shall generally have the rights of a stockholder of the Company with respect to shares of Restricted Stock during the Restricted Period, including the right to vote such shares and to receive any dividends declared with respect to such shares. The Participant shall generally not have the rights of a stockholder with respect to shares of Common Stock subject to Restricted Stock Units during the Restricted Period; provided, however, that, subject to Section 409A of the Code, an amount equal to dividends declared during the Restricted Period with respect to the number of shares of Common Stock covered by Restricted Stock Units may, to the extent set forth in an Award Agreement, be provided to the Participant. Notwithstanding the foregoing, any dividend or dividend equivalent awarded with respect to Restricted Stock or Restricted Stock Units shall, unless otherwise set forth in an applicable Award Agreement, be subject to the same restrictions, conditions and risks of forfeiture as the underlying Restricted Stock or Restricted Stock Units.
(3)   Certificates for Shares of unrestricted Common Stock may, in the Company's sole discretion, be delivered to the Participant only after the Restricted Period has expired without forfeiture in respect of such Restricted Stock or Restricted Stock Units, except as the Administrator, in its sole discretion, shall otherwise determine.
(d)   Termination of Employment or Service. The rights of Participants granted Restricted Stock or Restricted Stock Units upon termination of employment or service as a director, independent contractor, or consultant to the Company or to any Affiliate thereof terminates for any reason during the Restricted Period shall be set forth in the Award Agreement.

Section 10.    Other Stock-Based Awards.

Other forms of Awards valued in whole or in part by reference to, or otherwise based on, Common Stock, including but not limited to dividend equivalents, may be granted either alone or in addition to other Awards (other than in connection with Options or Stock Appreciation Rights) under the Plan. Any dividend or dividend equivalent awarded hereunder shall be subject to the same restrictions, conditions and risks of forfeiture as the underlying Award. Subject to the provisions of the Plan, the Administrator shall have sole and complete authority to determine the individuals to whom and the time or times at which such Other Stock-Based Awards shall be granted, the number of shares of Common Stock to be granted pursuant to such Other Stock-Based Awards, or the manner in which such Other Stock-Based Awards shall be settled (e.g., in shares of Common Stock, cash or other property), or the conditions to the vesting and/or payment or settlement of such Other Stock-Based Awards 

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(which may include, but not be limited to, achievement of performance criteria) and all other terms and conditions of such Other Stock-Based Awards.

Section 11.    Stock Bonuses.

In the event that the Administrator grants a Stock Bonus, the Shares constituting such Stock Bonus shall, as determined by the Administrator, be evidenced by a book entry record or a certificate issued in the name of the Participant to whom such grant was made and delivered to such Participant as soon as practicable after the date on which such Stock Bonus is payable.

Section 12.    Cash Awards.

The Administrator may grant awards that are payable solely in cash, as deemed by the Administrator to be consistent with the purposes of the Plan, and such Cash Awards shall be subject to the terms, conditions, restrictions and limitations determined by the Administrator, in its sole discretion, from time to time. Cash Awards may be granted with value and payment contingent upon the achievement of performance criteria.

Section 13.    Special Provisions Regarding Certain Awards.

The Administrator may make Awards hereunder to Covered Employees (or to individuals whom the Administrator believes may become Covered Employees) that are intended to qualify as performance-based compensation under Section 162(m) of the Code. The exercisability and/or payment of such Awards may be subject to the achievement of performance criteria based upon one or more Performance Goals and to certification of such achievement in writing by the Committee. Such performance criteria shall be established in writing by the Committee not later than the time period prescribed under Section 162(m) and the regulations thereunder. All provisions of such Awards which are intended to qualify as performance-based compensation under Section 162(m) of the Code shall be construed in a manner to so comply.

Section 14.    Change in Control Provisions.

Unless otherwise determined by the Administrator and evidenced in an Award Agreement, in the event that (a) a Change in Control occurs, and (b) the Participant's employment is terminated by the Company, its successor or Affiliate thereof without Cause on or after the effective date of the Change in Control but prior to twelve (12) months following the Change in Control, then:
(a)   any unvested or unexercisable portion of any Award carrying a right to exercise shall become fully vested and exercisable; and
(b)   the restrictions, deferral limitations, payment conditions and forfeiture conditions applicable to an Award granted under the Plan shall lapse and such Awards shall be deemed fully vested and any performance conditions imposed with respect to such Awards shall be deemed to be fully achieved.

Section 15.    Amendment and Termination.

The Board may amend, alter or terminate the Plan, but no amendment, alteration, or termination shall be made that would impair the rights of a Participant under any Award theretofore granted without such Participant's consent. Unless the Board determines otherwise, the Board shall obtain approval of the Company's stockholders for any amendment that would require such approval in order to satisfy the requirements of Section 162(m) of the Code, any rules of the stock exchange on which the Common Stock is traded or other applicable law. The Administrator may amend the terms of any Award theretofore granted, prospectively or retroactively, but, subject to Section 5 of the Plan and the immediately preceding sentence, no such amendment shall impair the rights of any Participant without his or her consent.

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Section 16.    Unfunded Status of Plan.

The Plan is intended to constitute an "unfunded" plan for incentive compensation. With respect to any payments not yet made to a Participant by the Company, nothing contained herein shall give any such Participant any rights that are greater than those of a general creditor of the Company.

Section 17.    Withholding Taxes.

Each Participant shall, no later than the date as of which the value of an Award first becomes includible in the gross income of such Participant for federal and/or state income tax purposes, pay to the Company, or make arrangements satisfactory to the Administrator regarding payment of, any federal, state, or local taxes of any kind required by law to be withheld with respect to the Award. The obligations of the Company under the Plan shall be conditional on the making of such payments or arrangements, and the Company shall, to the extent permitted by law, have the right to deduct any such taxes from any payment of any kind otherwise due to such Participant. Whenever cash is to be paid pursuant to an Award, the Company shall have the right to deduct therefrom an amount sufficient to satisfy any federal, state and local withholding tax requirements related thereto. Whenever Shares are to be delivered pursuant to an Award, the Company shall have the right to require the Participant to remit to the Company in cash an amount sufficient to satisfy any related federal, state and local taxes to be withheld and applied to the tax obligations. With the approval of the Administrator, a Participant may satisfy the foregoing requirement by electing to have the Company withhold from delivery of Shares, cash or other property, as applicable, or by delivering already owned unrestricted shares of Common Stock, in each case, having a value not exceeding the federal, state and local taxes to be withheld and applied to the tax obligations. Such shares of Common Stock shall be valued at their Fair Market Value on the date of which the amount of tax to be withheld is determined. Fractional share amounts shall be settled in cash. Such an election may be made with respect to all or any portion of the Shares to be delivered pursuant to an award. The Company may also use any other method of obtaining the necessary payment or proceeds, as permitted by law, to satisfy its withholding obligation with respect to any Award.

Section 18.    Voting Proxy.

The Company reserves the right to require the Participant, to the fullest extent permitted by applicable law, to appoint the Fortress Fund V GP L.P. (or another person at the request of the Fortress Fund V GP L.P.) as the Participant's proxy with respect to all applicable unvested Awards of which the Participant may be the record holder of from time to time to (A) attend all meetings of the holders of the shares of Common Stock, with full power to vote and act for the Participant with respect to such Awards in the same manner and extent that the Participant might were the Participant personally present at such meetings, and (B) execute and deliver, on behalf of the Participant, any written consent in lieu of a meeting of the holders of the shares of Common Stock in the same manner and extent that the Participant might but for the proxy granted pursuant to this sentence.

Section 19.    Transfer of Awards.

Until such time as the Awards are fully vested and/or exercisable in accordance with the Plan or an Award Agreement, no purported sale, assignment, mortgage, hypothecation, transfer, charge, pledge, encumbrance, gift, transfer in trust (voting or other) or other disposition of, or creation of a security interest in or lien on, any Award or any agreement or commitment to do any of the foregoing (each, a "Transfer") by any holder thereof in violation of the provisions of the Plan or an Award Agreement will be valid, except with the prior written consent of the Administrator, which consent may be granted or withheld in the sole discretion of the Administrator. Any purported Transfer of an Award or any economic benefit or interest therein in violation of the Plan or an Award Agreement shall be null and void ab initio, and shall not create any obligation or liability of the Company, and any Person purportedly acquiring any Award or any economic benefit or interest therein transferred in violation of the Plan or an Award Agreement shall not be entitled to be recognized as a holder of any shares of Common Stock or other property underlying such Award. Unless otherwise determined by the Administrator in accordance with the provisions of the immediately preceding sentence, an Option may be exercised, during the lifetime of the Participant, only by the Participant or, during any period during which the Participant is under a legal disability, by the Participant's guardian or legal representative.

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Section 20.    Continued Employment.

The adoption of the Plan shall not confer upon any Eligible Recipient any right to continued employment or service with the Company or any Affiliate thereof, as the case may be, nor shall it interfere in any way with the right of the Company or any Affiliate thereof to terminate the employment or service of any of its Eligible Recipients at any time.

Section 21.    Effective Date.

The Plan was adopted by the Board on March 25, 2016, subject to the approval of the Plan by the Company's stockholders, and shall become effective without further action upon approval of the Plan by the Company's stockholders (the date of such effectiveness, the "Effective Date").

Section 22.    Term of Plan.

No award shall be granted pursuant to the Plan on or after the tenth anniversary of the Effective Date, but awards theretofore granted may extend beyond that date.

Section 23.    Securities Matters and Regulations.

(a)   Notwithstanding anything herein to the contrary, the obligation of the Company to sell or deliver Common Stock with respect to any Award granted under the Plan shall be subject to all applicable laws, rules and regulations, including all applicable federal and state securities laws, and the obtaining of all such approvals by governmental agencies as may be deemed necessary or appropriate by the Administrator. The Administrator may require, as a condition of the issuance and delivery of certificates evidencing shares of Common Stock pursuant to the terms hereof, that the recipient of such shares make such agreements and representations, and that such certificates bear such legends, as the Administrator, in its sole discretion, deems necessary or advisable.
(b)   Each Award is subject to the requirement that, if at any time the Administrator determines that the listing, registration or qualification of Common Stock issuable pursuant to the Plan is required by any securities exchange or under any state or federal law, or the consent or approval of any governmental regulatory body is necessary or desirable as a condition of, or in connection with, the grant of an Award or the issuance of Common Stock, no such Award shall be granted or payment made or Common Stock issued, in whole or in part, unless listing, registration, qualification, consent or approval has been effected or obtained free of any conditions not acceptable to the Administrator.
(c)   In the event that the disposition of Common Stock acquired pursuant to the Plan is not covered by a then current registration statement under the Securities Act and is not otherwise exempt from such registration, such Common Stock shall be restricted against transfer to the extent required by the Securities Act or regulations thereunder, and the Administrator may require a Participant receiving Common Stock pursuant to the Plan, as a condition precedent to receipt of such Common Stock, to represent to the Company in writing that the Common Stock acquired by such Participant is acquired for investment only and not with a view to distribution.

Section 24.    Notification of Election Under Section 83(b) of the Code.

If any Participant shall, in connection with the acquisition of shares of Common Stock under the Plan, make the election permitted under Section 83(b) of the Code, such Participant shall notify the Company of such election within 10 days of filing notice of the election with the Internal Revenue Service.

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Section 25.    No Fractional Shares.

No fractional shares of Common Stock shall be issued or delivered pursuant to the Plan. The Administrator shall determine whether cash, other Awards, or other property shall be issued or paid in lieu of such fractional shares or whether such fractional shares or any rights thereto shall be forfeited or otherwise eliminated.

Section 26.    Beneficiary.

A Participant may file with the Administrator a written designation of a beneficiary on such form as may be prescribed by the Administrator and may, from time to time, amend or revoke such designation. If no designated beneficiary survives the Participant, the executor or administrator of the Participant's estate shall be deemed to be the Participant's beneficiary.

Section 27.    Paperless Administration.

In the event that the Company establishes, for itself or using the services of a third party, an automated system for the documentation, granting or exercise of Awards, such as a system using an internet website or interactive voice response, then the paperless documentation, granting or exercise of Awards by a Participant may be permitted through the use of such an automated system.

Section 28.    Severability.

If any provision of the Plan is held to be invalid or unenforceable, the other provisions of the Plan shall not be affected but shall be applied as if the invalid or unenforceable provision had not been included in the Plan.

Section 29.    Clawback.

Notwithstanding any other provisions in this Plan, any Award which is subject to recovery under any law, government regulation or stock exchange listing requirement, will be subject to such deductions and clawback as may be required to be made pursuant to such law, government regulation or stock exchange listing requirement (or any policy adopted by the Company pursuant to any such law, government regulation or stock exchange listing requirement).

Section 30.    Section 409A of the Code.

The Plan as well as payments and benefits under the Plan are intended to be exempt from, or to the extent subject thereto, to comply with Section 409A of the Code, and, accordingly, to the maximum extent permitted, the Plan shall be interpreted in accordance therewith. Notwithstanding anything contained herein to the contrary, to the extent required in order to avoid accelerated taxation and/or tax penalties under Section 409A of the Code, the Participant shall not be considered to have terminated employment with the Company for purposes of the Plan and no payment shall be due to the Participant under the Plan or any Award until the Participant would be considered to have incurred a "separation from service" from the Company within the meaning of Section 409A of the Code. Any payments described in the Plan that are due within the "short term deferral period" as defined in Section 409A of the Code shall not be treated as deferred compensation unless applicable law requires otherwise. Notwithstanding anything to the contrary in the Plan, to the extent that any Awards (or any other amounts payable under any plan, program or arrangement of the Company or any of its Affiliates) are payable upon a separation from service and such payment would result in the imposition of any individual tax and penalty interest charges imposed under Section 409A of the Code, the settlement and payment of such awards (or other amounts) shall instead be made on the first business day after the date that is six (6) months following such separation from service (or death, if earlier). Each amount to be paid or benefit to be provided under this Plan shall be construed as a separate identified payment for purposes of Section 409A of the Code. The Company makes no representation that any or all of the payments or benefits described in this Plan will be exempt from or comply with Section 409A of the Code and makes no undertaking to preclude Section 409A of the Code from 

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applying to any such payment. The Participant shall be solely responsible for the payment of any taxes and penalties incurred under Section 409A.

Section 31.    Governing Law.

The Plan shall be governed by and construed in accordance with the laws of the State of Delaware, without giving effect to principles of conflicts of law of such state.

15Exhibit

Exhibit 10.1

PURCHASE AND SALE AGREEMENT
THIS PURCHASE AND SALE AGREEMENT (this “Agreement”) is made and entered into as of May 26, 2016 by and among THE TRAXIS GROUP B.V., a limited liability company existing under the Laws of the Netherlands (the “Seller”), with a mailing address c/o Cerberus Capital Management, L.P., 875 Third Avenue, 11th Floor, New York, New York 10022, BLUE BIRD CORPORATION, a Delaware corporation (the “Company”), with executive offices located at 402 Blue Bird Boulevard, Fort Valley, Georgia 31030, and ASP BB Holdings LLC, a Delaware limited liability company (the “Purchaser”), with a mailing address c/o American Securities LLC, 299 Park Avenue, 34th Floor, New York, New York 10171.
W I T N E S S E T H:
WHEREAS, the Seller is the owner of Twelve Million (12,000,000) shares of common stock, par value $.0001 per share (the “Transaction Shares”), of the Company;

WHEREAS, the Seller desires to sell to the Purchaser, and the Purchaser desires to purchase from the Seller, the Transaction Shares, subject to the terms and conditions set forth in this Agreement; 

WHEREAS, the Seller and the Purchaser desire to enter into this Agreement to set forth all of the mutual understandings and agreements reached by and between them with respect to the purchase and sale of the Transaction Shares and the various matters related thereto, all as more particularly set forth herein; and

WHEREAS, contemporaneous with the execution of this Agreement, the Purchaser and the Company have entered into a stockholder agreement, a copy of which has been delivered to the Seller (the “Stockholder Agreement”),

NOW, THEREFORE, in consideration of the foregoing premises, the mutual covenants and agreements set forth herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:

Section 1.Purchase and Sale of Transaction Shares at the Initial Closing; Purchase Price Payable at the Initial Closing.

(a)Initial Transaction.  Subject to the terms and conditions of this Agreement, the Seller hereby agrees to sell, convey, assign and deliver to the Purchaser at the Initial Closing (as defined below), free and clear of all Encumbrances and Transfer Restrictions (each as defined in Section 11 of this Agreement) other than the Permitted Restrictions (as defined in Section 3(c) of this Agreement), and the Purchaser hereby agrees to purchase, acquire and accept from the Seller at the Initial Closing, subject to the Permitted Restrictions, a total of Seven Million (7,000,000) Transaction Shares (such shares, the “Initial Transaction Shares”; the purchase and sale of the Initial Transaction Shares at the Initial Closing, the “Initial Transaction”).

(b)Initial Closing.  The closing of the Initial Transaction (the “Initial Closing”) shall take place at the offices of Lowenstein Sandler LLP, 1251 Avenue of the Americas, 17th Floor, New York, New York 10020 (the “LS Offices”), at 10:00 a.m., New York City time, on the twelfth business day after the satisfaction or written waiver (to the extent waivable) of the conditions set forth in Section 6 of this Agreement (excluding conditions that, by their terms, cannot be satisfied until the Initial Closing, but subject to the satisfaction or 

waiver of those conditions), or at such other date, time or place as the Seller and Purchaser may mutually agree upon in writing.  The date on which the Initial Closing actually occurs is hereinafter referred to as the “Initial Closing Date.”

(c)Initial Purchase Price.  Subject to the terms and conditions set forth in Section 6 of this Agreement, at or contemporaneous with the Initial Closing, (i) the Purchaser shall pay, or cause to be paid, to the Seller an amount in cash equal to $10.10 per share for each of the Initial Transaction Shares, for a total of Seventy Million Seven Hundred Thousand Dollars (USD $70,700,000) (the “Initial Purchase Price”), payable in accordance with Section 9(b)(i) of this Agreement and (ii) the Seller shall deliver, or cause to be delivered, to the Purchaser, the Initial Transaction Shares, such delivery to be effected in accordance with Section 9(a)(i) and Section 9(a)(iii) of this Agreement

(d)Initial Transfer Effectiveness.  For all purposes related to the Initial Transaction (including, without limitation, the determination of beneficial or record holders as of any date and the right to receive dividends, property or other distributions from the Company or any other person or entity in respect of or in exchange for the Initial Transaction Shares), the effective date of the sale, conveyance, assignment and delivery of the Initial Transaction Shares shall be the Initial Closing Date.  The Purchaser shall promptly remit and deliver to the Seller any amounts or property paid or distributed to it in respect of the Initial Transaction Shares with respect to a record date prior to the Initial Closing Date, and the Seller shall promptly remit and deliver to the Purchaser any amounts or property paid or distributed to it in respect of the Initial Transaction Shares with respect to a record date on or following the Initial Closing Date, other than the Initial Purchase Price.

Section 2.Purchase and Sale of Transaction Shares at the Second Closing; Purchase Price Payable at the Second Closing.

(a)Second Transaction.  Subject to the terms and conditions of this Agreement, the Seller hereby agrees to sell, convey, assign and deliver to the Purchaser at the Second Closing (as defined below), free and clear of all Encumbrances and Transfer Restrictions other than the Permitted Restrictions , and the Purchaser hereby agrees to purchase, acquire and accept from the Seller at the Second Closing, subject to the Permitted Restrictions, a total of Five Million (5,000,000) Transaction Shares (such shares, the “Second Transaction Shares”; the purchase and sale of the Second Transaction Shares at the Second Closing, the “Second Transaction”).

(b)Second Closing.  The closing of the Second Transaction (the “Second Closing”) shall take place at the LS Offices, at 10:00 a.m., New York City time, on the twelfth business day after the satisfaction or written waiver (to the extent waivable) of the conditions set forth in Section 7 of this Agreement (excluding conditions that, by their terms, cannot be satisfied until the Second Closing, but subject to the satisfaction or waiver of those conditions), or at such other date, time or place as the Seller and Purchaser may mutually agree upon in writing.  The date on which the Second Closing actually occurs is hereinafter referred to as the “Second Closing Date.”

(c)Second Purchase Price.  Subject to the terms and conditions set forth in Section 7 of this Agreement, at or contemporaneous with the Second Closing, (i) the Purchaser shall pay, or cause to be paid, to the Seller an amount in cash equal to $11.00 per share for each of the Second Transaction Shares, for a total of Fifty Five Million Dollars (USD $55,000,000) (the “Second Purchase Price”), payable in accordance with Section 9(b)(ii) of this Agreement and (ii) the Seller shall deliver, or cause to be delivered, to the Purchaser the Second Transaction Shares, such delivery to be effected in accordance with Section 9(a)(ii) and Section 9(a)(iii) of this Agreement.

(d)Second Transfer Effectiveness.  For all purposes related to the Second Transaction (including, without limitation, the determination of beneficial or record holders as of any date and the right to receive dividends, property or other distributions from the Company or any other person or entity in respect of or in exchange for the Second Transaction Shares), the effective date of the sale, conveyance, assignment and delivery of the Second Transaction Shares shall be the Second Closing Date.  The Purchaser shall promptly remit and deliver to the Seller any amounts or property paid or distributed to it in respect of the Second Transaction Shares with respect to a record date prior to the Second Closing Date, and the Seller shall promptly remit and deliver to the Purchaser any amounts or property paid or distributed to it in respect of the Second Transaction Shares with respect to a record date on or following the Second Closing Date, other than the Second Purchase Price.

Section 3.Representations and Warranties of the Seller.  Except, with respect to the representations and warranties set forth in Section 3(d), Section 3(e) and Section 3(f) of this Agreement, as otherwise disclosed in the SEC Documents filed prior to the execution of this Agreement, the Seller hereby represents and warrants to the Purchaser as follows:

(a)Capacity; Due Authorization and Execution; Enforceability.  The Seller has the power and capacity to enter into this Agreement and to consummate the Initial Transaction and the Second Transaction (collectively, the “Transactions”). The execution, delivery, and performance by the Seller of this Agreement and the consummation by the Seller of its obligations hereunder have been duly authorized by all necessary action by the Seller.  This Agreement has been duly and validly executed and delivered by the Seller and constitutes the legal, valid and binding obligation of the Seller, enforceable in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, moratorium, reorganization or similar Laws from time to time in effect that affect creditors’ rights generally, and by legal and equitable limitations on the availability of specific remedies.  Any person signing this Agreement on behalf of the Seller has been duly and validly authorized and empowered to do so and has the authority to bind the Seller and to effectuate the transactions contemplated by this Agreement.

(b)No Contravention; No Conflict.  The execution, delivery and performance by the Seller of this Agreement and consummation by the Seller of the Transactions do not and will not (i) violate any decree or judgment of any court or other governmental authority applicable to or binding on the Seller, (ii) violate any provision of any statute, rule or regulation which is, to the Seller’s Knowledge, applicable to the Seller, (iii) conflict with, or result in any violation of, any provision of any Organizational Document (as defined in Section 11 of this Agreement) of the Seller or (iv) violate or result in a default under any contract to which the Seller or any of the Seller’s assets or properties are bound.  No consent or approval of, or filing by the Seller with, any governmental authority or other person not a party hereto is required for the execution, delivery and performance by the Seller of this Agreement or the consummation of the Transactions by the Seller.

(c)Beneficial Ownership; No Encumbrances; Transfer Restrictions.  The Seller is the sole record and beneficial owner of the Transaction Shares, free and clear of any Encumbrances, and upon the transfer of the Transaction Shares to the Purchaser, the Purchaser shall acquire good title thereto, free and clear of any Encumbrances or Transfer Restrictions, other than Transfer Restrictions arising solely under the Securities Act of 1933, as amended (the “Securities Act”), and the rules and regulations of the Securities and Exchange Commission promulgated thereunder, and/or under similar state securities Laws (collectively, the “Permitted Restrictions”). The Transaction Shares constitute 100% of the equity interests of the Company owned by the Seller or its controlled Affiliates and the Seller does not own any other securities convertible into, or rights to acquire, equity interests in the Company or any of its subsidiaries.

(d)SEC Disclosure; Contracts. To the Knowledge of the Seller, since February 24, 2015 the Company has timely filed or furnished (within time frames permitted through the use of Form 12b-25) all SEC Documents with the Securities and Exchange Commission (the “SEC”) required to be so filed by it pursuant to applicable Law and the SEC rules and regulations thereunder and has not filed or furnished any such SEC Documents on a confidential basis.  To the Knowledge of the Seller, as of its respective filing date, and, if amended, as of the date of the last amendment prior to the date of this Agreement, each of the SEC Documents complied in all material respects with the requirements of the Securities Act, the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the Sarbanes-Oxley Act of 2002 and the rules and regulations of the SEC promulgated thereunder applicable to such SEC Documents and did not contain as of the time they were filed or furnished any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading. Other than this Agreement and the Registration Rights Agreement, neither the Seller nor any of its controlled Affiliates is a party to any contract or agreement with the Company or any of its subsidiaries or any contract or agreement relating to the Transaction Shares or any rights relating thereto, including any agreement governing the sale, disposition, transfer or voting of the Transaction Shares, except for the agreements described in Schedule I to this Agreement. 

(e)Financial Statements.  To the Knowledge of the Seller, the consolidated financial statements of the Company included in the SEC Documents (including the related notes and schedules) (the “Financial Statements”) (a) have been prepared from, and are in accordance with, the books and records of the Company and its consolidated subsidiaries, (b) comply as to form in all material respects with the applicable accounting requirements and with the rules and regulations of the SEC, the Exchange Act and the Securities Act, (c) have been prepared in accordance with United States generally accepted accounting principles (“GAAP”) applied on a consistent basis during the periods involved (except as may be indicated in the Financial Statements or in the notes to the Financial Statements), and (d) fairly present, in all material respects, the consolidated financial position and the consolidated results of operations and cash flows of the Company and its subsidiaries as of the date and for the periods referred to in the Financial Statements.  To the Knowledge of the Seller, since the date of the Company’s balance sheet filed with the SEC for the fiscal quarter ended January 2, 2016, the Company has not effected any change in any method of accounting or accounting practice.

(f)Undisclosed Liabilities; Absence of Certain Events.  

(i)To the Knowledge of the Seller, the Company and its subsidiaries do not have any liabilities or obligations of any nature (whether known or unknown, whether asserted or unasserted, whether absolute or contingent, whether accrued or not accrued, whether liquidated or unliquidated, whether primary or secondary, and whether due or to become due), including any liability for taxes, except for (a) liabilities expressly specified in the Company’s balance sheet filed with the SEC for the fiscal quarter ended April 2, 2016 or disclosed in the notes thereto, (b) liabilities arising under executory contracts other than with respect to the breach thereof, (c) liabilities and obligations incurred in the ordinary course of business since the date of the Company’s balance sheet filed with the SEC for the fiscal quarter ended April 2,  2016, (d) liabilities and obligations arising out of or in connection with this Agreement or the Transactions and (e) liabilities that would not reasonably be expected to be material to the Company and its subsidiaries taken as a whole.  

(ii)To the Knowledge of the Seller, since the date of the Company’s balance sheet filed with the SEC for the fiscal year ended October 3, 2015, there has not been a Material Adverse Effect.

(g)No Adverse Proceedings.  No proceedings relating to the Transaction Shares are pending or, to the Knowledge of the Seller, threatened, before any court, arbitrator or administrative or governmental body or authority that would adversely affect the Seller’s right to transfer the Transaction Shares to the Purchaser hereunder.

(h)No Demand Registrations.  Neither the Seller nor any of its Affiliates has delivered a Demand Registration Request (as defined in the Registration Rights Agreement) to the Company or otherwise exercised any of its rights to a Demand Registration under the Registration Rights Agreement. 

(i)Sole Representations or Warranties.  The Seller acknowledges that the Purchaser is not making any representations or warranties to the Seller, and the Seller is not relying on any statements, whether oral or written, which may have been made at any time by the Purchaser or on the Purchaser’s behalf, except for those representations and warranties of the Purchaser expressly set forth in Section 5 of this Agreement.

Section 4.Representations and Warranties of the Company.  Except, with respect to the representations and warranties set forth in Section 4(c), Section 4(d), Section 4(e) and Section 4(f), as otherwise disclosed in the SEC Documents filed prior to the execution of this Agreement, the Company hereby represents and warrants to the Purchaser as follows:

(a)Capacity; Due Authorization and Execution; Enforceability.  The Company has the power and capacity to enter into this Agreement.  The execution, delivery, and performance by the Company of this Agreement and the consummation by the Company of its obligations hereunder have been duly authorized by all necessary action by the Company.  This Agreement has been duly and validly executed and delivered by the Company and constitutes the legal, valid and binding obligation of the Company, enforceable in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, moratorium, reorganization or similar Laws from time to time in effect that affect creditors’ rights generally, and by legal and equitable limitations on the availability of specific remedies.  Any person signing this Agreement on behalf of the Company has been duly and validly authorized and empowered to do so and has the authority to bind the Company and to effectuate the transactions contemplated by this Agreement.

(b)No Contravention; No Conflict.  The execution, delivery and performance by the Company of this Agreement do not and will not (i) violate any decree or judgment of any court or other governmental authority applicable to or binding on the Company or any of its subsidiaries, (ii) violate any provision of any statute, rule or regulation which is applicable to the Company or any of its subsidiaries, (iii) conflict with, or result in any violation of, any provision of any Organizational Document of the Company or any of its subsidiaries or (iv) violate or result in a default under any material contract to which the Company, any of the Company’s subsidiaries or any of their respective assets or properties are bound.  No consent or approval of, or filing by the Company with, any governmental authority or other person not a party hereto is required for the execution, delivery and performance by the Company of this Agreement.

(c)SEC Disclosure.  Since February 24, 2015 the Company has timely filed or furnished (within time frames permitted through the use of Form 12b-25) all SEC Documents with the SEC required to be so filed by it pursuant to applicable Law and the SEC rules and regulations thereunder and has not filed or furnished any such SEC Documents on a confidential basis.  As of its respective filing date, and, if amended, as of the date of the last amendment prior to the date of this Agreement, each of the SEC Documents complied in all material respects with the requirements of the Securities Act, the Exchange Act and the Sarbanes-Oxley Act of 2002 and the rules and regulations of the SEC promulgated thereunder applicable to such SEC Documents and did not contain as of the time they were filed or furnished any untrue statement of a material 

fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading.

(d)Financial Statements.  The Financial Statements (a) have been prepared from, and are in accordance with, the books and records of the Company and its consolidated subsidiaries, (b) comply as to form in all material respects with the applicable accounting requirements and with the rules and regulations of the SEC, the Exchange Act and the Securities Act, (c) have been prepared in accordance with GAAP applied on a consistent basis during the periods involved (except as may be indicated in the Financial Statements or in the notes to the Financial Statements), and (d) fairly present, in all material respects, the consolidated financial position and the consolidated results of operations and cash flows of the Company and its subsidiaries as of the date and for the periods referred to in the Financial Statements.  Since the date of the Company’s balance sheet filed with the SEC for the fiscal quarter ended January 2, 2016, the Company has not effected any change in any method of accounting or accounting practice.

(e)Controls and Procedures.  The Company has established and maintains disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Exchange Act), as required by Rules 13a-15(a) and 15d-15(a) of the Exchange Act, and such disclosure controls and procedures are reasonably designed to ensure that material information relating to the Company, including its consolidated subsidiaries, is made known to the chief executive officer and the chief financial officer of the Company by others within the Company and its subsidiaries, and to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with GAAP.  Based on the Company management’s most recently completed evaluation of the Company’s internal controls over financial reporting prior to the date of this Agreement, (a) the Company had no significant deficiencies or material weaknesses in the design or operation of internal controls over financial reporting (as defined in Rule 13a-15(f) of the Exchange Act) which are reasonably likely to adversely affect the Company’s ability to record, process, summarize and report financial information and (b) the Company has no knowledge of 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.

(f)Undisclosed Liabilities; Absence of Certain Events.  

(i)The Company and its subsidiaries do not have any liabilities or obligations of any nature (whether known or unknown, whether asserted or unasserted, whether absolute or contingent, whether accrued or not accrued, whether liquidated or unliquidated, whether primary or secondary, and whether due or to become due), including any liability for taxes, except for (a) liabilities expressly specified in the Company’s balance sheet filed with the SEC for the fiscal quarter ended April 2, 2016 or disclosed in the notes thereto, (b) liabilities arising under executory contracts other than with respect to the breach thereof, (c) liabilities and obligations incurred in the ordinary course of business since the date of the Company’s balance sheet filed with the SEC for the fiscal quarter ended April 2, 2016, (d) liabilities and obligations arising out of or in connection with this Agreement or the Transactions and (e) liabilities that would not reasonably be expected to be material to the Company and its subsidiaries taken as a whole.  

(ii)Since the date of the Company’s balance sheet filed with the SEC for the fiscal year ended October 3, 2015, there has not been a Material Adverse Effect.

(g)Antitakeover Statutes.  Assuming the accuracy of the representation set forth in Section 5(g)(ii) of this Agreement, the Company has taken all action necessary to approve this Agreement, the Stockholders Agreement, and in each case, the transactions contemplated hereby and thereby, for purposes of Section 203 

of the Delaware General Corporation Law, as amended (the “DGCL”), such that the restrictions on business combinations set forth in Section 203 of the DGCL shall be inapplicable to American Securities LLC and its affiliates.  

Section 5.Representations, Warranties and Agreements of the Purchaser.  The Purchaser hereby represents and warrants to the Seller, and agrees with the Seller, as follows:

(a)Capacity; Due Authorization and Execution; Enforceability.  The Purchaser has the power and capacity to enter into this Agreement and to consummate the Transactions.  The execution, delivery, and performance by the Purchaser of this Agreement and the consummation by the Purchaser of its obligations hereunder have been duly authorized by all necessary action by the Purchaser. This Agreement has been duly and validly executed and delivered by the Purchaser and constitutes the legal, valid and binding obligation of the Purchaser, enforceable in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, moratorium, reorganization or similar Laws from time to time in effect that affect creditors’ rights generally, and by legal and equitable limitations on the availability of specific remedies.  Any person signing this Agreement on behalf of the Purchaser has been duly and validly authorized and empowered to do so and has the authority to bind the Purchaser, as the case may be, and to effectuate the transactions contemplated by this Agreement.

(b)No Contravention; No Conflict.  The execution, delivery and performance by the Purchaser of this Agreement and consummation by the Purchaser of the Transactions do not and will not (i) violate any decree or judgment of any court or other governmental authority applicable to or binding on the Purchaser, (ii) violate any provision of any statute, rule or regulation which is, to the Purchaser’s knowledge, applicable to the Purchaser, (iii) conflict with, or result in any violation of, any provision of any Organizational Document of the Purchaser or (iv) violate or result in a default under any material contract to which the Purchaser or any of the Purchaser’s assets or properties are bound.  No consent or approval of, or filing by the Purchaser with, any governmental authority or other person not a party hereto is required for the execution, delivery and performance by the Purchaser of this Agreement or the consummation of the Transactions by the Purchaser.

(c)Securities Law Restrictions.  The Purchaser acknowledges that (i) the Transaction Shares were issued to the Seller without registration under federal or state securities laws, (ii) the Transaction Shares shall be sold by the Seller to the Purchaser without registration under federal or state securities laws, (iii) the Seller is an affiliate of the Company and (iv) upon its purchase of the Transaction Shares, each such Transaction Share shall be subject to the Permitted Restrictions. 

(d)Independent Evaluation; Accredited Investor; Big Boy Representations; Limited Remedies.  

(i)    Subject to the accuracy of the representations and warranties provided by the Seller and the Company in this Agreement, the Purchaser has conducted an independent evaluation of the Transaction Shares, including through discussions with senior officers of the Company, to determine whether to engage in the Transactions. The Purchaser represents and acknowledges that:  (A) it is an accredited investor (as defined in Rule 501(a) of Regulation D promulgated under the Securities Act), with sufficient knowledge and experience in transactions comparable to the Transactions to evaluate the merits and risks of this Agreement; (B) it is purchasing the Transaction Shares solely for its own account; and (C) the Seller is relying upon such acknowledgements and representations, as well as the other acknowledgments set forth elsewhere in this Section 5, as a condition to entering into this Agreement.

(ii)    The Purchaser  acknowledges that the sole purposes of the representations and warranties set forth in Section 3(d), Section 3(e), Section 3(f), Section 4(c), Section 4(d), Section 4(e) and Section 4(f) of this Agreement are to enable the Purchaser, at its option, to (A) terminate this Agreement  pursuant to Section 10(a)(iv) of this Agreement if the condition set forth in Section 6(b)(i) of this Agreement is not satisfied and (B) terminate this Agreement pursuant to Section 10(a)(v) of this Agreement if the condition set forth in Section 7(b)(i) of this Agreement is not satisfied. The Purchaser acknowledges that, subject to the rights retained by the Purchaser under Section 5(f), the failure of such representations and warranties to be true and correct shall not constitute a basis for any claim by the Purchaser for damages (whether raised before or after the consummation of the Initial Closing or the Second Closing), rescission or any other remedy other than termination of this Agreement to the extent contemplated by Section 10(a)(iv) and Section 10(a)(v) of this Agreement. For the avoidance of doubt, the Purchaser acknowledges and agrees that if the Initial Closing has been consummated, and the Purchaser elects to terminate this Agreement with respect to the Second Closing in accordance with Section 10(a)(v) of this Agreement, then the Purchaser shall have no right of rescission, no claim for damages and no other remedy with respect to the Initial Closing, other than those rights retained by the Purchaser under Section 5(f). If any such claim (for damages, rescission or any other remedy other than such termination) may exist, the Purchaser, recognizing its disclaimer of reliance and the Seller’s and the Company’s reliance on such disclaimer as a condition to entering into this Agreement, covenants and agrees not to assert any such claim against the Seller, Cerberus Capital Management, L.P. (“CCM”), Cerberus Operations and Advisory Company, LLC (“COAC”), Oak Hill Advisors, L.P. and OHSOF BA Holdings Cooperatief U.A. (collectively, “Oak Hill”) or any of the Seller’s, CCM’s, COAC’s or Oak Hill’s respective officers, directors, shareholders, partners, representatives, agents or Affiliates (as defined in Section 11 of this Agreement), except as set forth in Section 5(f). 
(iii)    The Purchaser has advised the Seller that with respect to matters relating to the Company not covered by Section 3(d), Section 3(e), Section 3(f), Section 4(c), Section 4(d), Section 4(e) and Section 4(f) (the “Other Matters”) of this Agreement, the Purchaser intends to base its determination to proceed solely on publicly available information, even if there is a material discrepancy between publicly available information and information that has not yet been publicly disclosed.  The Purchaser is voluntarily assuming all risks associated with information provided by the Company to the Seller or its representatives with respect to the Other Matters (the “Company Information”) and expressly warrants and represents that (x) the Purchaser disclaims the existence of, or its reliance on, any representation by the Seller concerning the Company Information and (y) the Purchaser is not relying on any disclosure or non-disclosure made or not made, or the completeness thereof, in connection with or arising out of the Company Information, and therefore has no claims against the Seller, CCM, COAC, Oak Hill, the Company or any of the Seller’s, CCM’s, COAC’s, Oak Hill’s or the Company’s officers, directors, shareholders, partners, representatives, agents or Affiliates with respect to the Company Information. If any such claim may exist, the Purchaser, recognizing its disclaimer of reliance and the Seller’s and the Company’s reliance on such disclaimer as a condition to entering into this Agreement, covenants and agrees not to assert any such claim against the Seller, CCM, COAC, Oak Hill, the Company or any of the Seller’s, CCM’s, COAC’s. Oak Hill’s or the Company’s officers, directors, shareholders, partners, representatives, agents or Affiliates. The Purchaser acknowledges that it has been advised that Dev Kapadia is a senior officer of the Seller and a managing director of CCM and a member of the Board of Directors of the Company, that Chan Galbato is a senior officer of COAC and a member of the Board of Directors of the Company, that Dennis Donovan is a senior officer of COAC and a member of the Board of Directors of the 

Company and that COAC is an Affiliate of CCM. As a result, the Seller, CCM and COAC may from time to time be in possession of Company Information that may be material and/or nonpublic, and which, if known by the Purchaser, could impact the Purchaser’s decision to purchase the Transaction Shares and/or to enter into this Agreement and perform its terms. The Purchaser acknowledges that some of such Company Information is not or may not be known by the Purchaser and has not been disclosed to the Purchaser by the Seller.

(e)Required Protections.  The Purchaser wishes to enter into the Transactions for the Purchaser’s own business and investment purposes.  The Purchaser acknowledges that the Seller would not enter into the Transactions with the Purchaser in the absence of the protections afforded to the Seller by the Purchaser’s representations, warranties and agreements set forth in this Section 5, and the releases and waivers set forth in this Section 5 and elsewhere in this Agreement.  The Purchaser further acknowledges that the Purchaser is providing such representations, warranties, agreements, releases and waivers contained in this Agreement as a material and necessary inducement to the Seller to consummate the Transactions (without which the Seller would not consummate the Transactions).

(f)Waivers and Releases.  Except in the case of common law fraud and except with respect to the right to terminate all or portions of this Agreement as contemplated by Section 5(d)(ii) and Section 10(a) of this Agreement, Purchaser hereby irrevocably waives any and all actions, causes of action, rights or claims, whether known or unknown, contingent or matured, and whether currently existing or hereafter arising, including, without limitation, claims it may have or hereafter acquire under applicable federal and/or state securities laws, statutory fraud or any other applicable laws, that the Purchaser may have or hereafter acquire against the Seller, CCM, COAC, Oak Hill or the Seller’s, CCM’s, COAC’s or Oak Hill’s officers, directors, shareholders, partners, representatives, agents or Affiliates (collectively, the “Seller Released Persons” and each, individually, a “Seller Released Person”), in each case, in any way, directly or indirectly, arising out of, relating to or resulting from the Seller’s, CCM’s, COAC’s, Oak Hill’s or any such other person’s failure to disclose the Company Information or any other information to the Purchaser.  The Purchaser also agrees that it shall not institute or maintain any cause of action, suit, complaint or other proceeding against any Seller Released Person, in each case, directly or indirectly related to or in any way as a result of the Seller’s, CCM’s, COAC’s, Oak Hill’s or any such other person’s failure to disclose the Company Information or any other information to the Purchaser.  The Purchaser intends to effect, to the maximum extent permitted by law, a complete and knowing waiver of the Purchaser’s rights as set forth in this Section 5(f).  Each of the terms of the waivers and releases set forth in this Section 5(f) shall survive the execution and delivery of this Agreement and the consummation of the Transaction.  For the avoidance of doubt, the Purchaser is not waiving any claims for breaches of the representations and warranties that survive the Initial Closing or the Second Closing, in each case as set forth in Section 26, and the Purchaser is not waiving any claims that may arise against the Company under applicable Law.

(g)Certain Legal Matters. 

(i) As of the Initial Closing Date and the Second Closing Date, the Purchaser will not be included within a “person” (as defined in 16 C.F.R. § 801.1(a)(1)) having total assets or annual net sales of $10 million (as adjusted) or more, as defined in 16 C.F.R. § 801.11, and therefore does not meet the size of person test set forth in 15 U.S.C. §18a(a)(2)(B).
(ii) As of immediately prior to the execution and delivery of this Agreement, the Purchaser was not an “interested stockholder” of the Company as such term is defined in Section 203 of the DGCL. 

(h)Sole Representations or Warranties.  The Seller is not making any representations or warranties to the Purchaser, and the Purchaser is not relying on any statements, whether oral or written, which may have been made at any time by the Seller or on the Seller’s  behalf, except for those representations and warranties of the Seller expressly set forth in Section 3 of this Agreement.  The Company is not making any representations or warranties to the Purchaser, and the Purchaser is not relying on any statements, whether oral or written, which may have been made at any time by the Company or on the Company’s behalf, except for those representations and warranties of the Company expressly set forth in Section 4 of this Agreement.

Section 6.Conditions Precedent to the Obligations of the Purchaser and the Seller to Consummate the Initial Transaction.

(a)Condition to the Obligations of Both the Purchaser and the Seller.  The respective obligations of the Purchaser and the Seller to consummate the Initial Transaction are subject to the satisfaction or waiver of the condition that, at the Initial Closing Date, there shall be no order or Law of any nature of any court or governmental authority or body of competent jurisdiction in effect that restrains, enjoins or prohibits the consummation of the Initial Transaction.

(b)Conditions to the Purchaser’s Obligations.  The obligations of the Purchaser to consummate the Initial Transaction are also subject to the satisfaction or waiver of the following conditions precedent:

(i)the representations and warranties of the Seller contained in Section 3(d), Section 3(e) and  Section 3(f)(i) of this Agreement shall be true and correct in all respects (without giving effect to any materiality or Material Adverse Effect qualifications) in each case as of the date hereof and as of the Initial Closing Date including as if made both on the date hereof and on the Initial Closing Date, except for such failures to be true and correct as would not have, individually or in the aggregate, a Material Adverse Effect;

(ii)the representations and warranties of the Seller contained in Section 3 of this Agreement, other than the representations and warranties set forth in Section 3(d), Section 3(e) and Section 3(f)(i) of this Agreement, shall be true and correct in all respects, in each case, as of the date hereof and as of the Initial Closing Date, including as if made both on the date hereof and on the Initial Closing Date;

(iii)the representations and warranties of the Company contained in Section 4(c), Section 4(d), Section 4(e) and Section 4(f)(i) of this Agreement shall be true and correct in all respects (without giving effect to any materiality or Material Adverse Effect qualifications) in each case as of the date hereof and as of the Initial Closing Date including as if made both on the date hereof and on the Initial Closing Date, except for such failures to be true and correct as would not have, individually or in the aggregate, a Material Adverse Effect;

(iv)the representations and warranties of the Company contained in Section 4 of this Agreement, other than the representations and warranties set forth in Section 4(c) Section 4(d), Section 4(e) and Section 4(f)(i) of this Agreement, shall be true and correct in all respects, in each case, as of the date hereof and as of the Initial Closing Date, including as if made both on the date hereof and on the Initial Closing Date;

(v)the Seller and the Company shall have complied in all material respects with all of the respective party’s covenants and agreements contained in this Agreement to be performed by such party on or prior to the Initial Closing Date; provided that the Seller shall have complied in all respects 

with each of the Seller’s covenants and agreements set forth in Sections 8(b)(iii),  9(a)(i) and 9(a)(iii) of this Agreement;

(vi)Dennis Donovan shall have resigned from the board of directors of the Company and from the board of directors of any subsidiary of the Company, Kevin Penn shall have been appointed to the board of directors of the Company for a term expiring in 2018 and Michael Sand shall have been appointed to the board of directors of the Company for a term expiring in 2017, in each case effective upon consummation of the Initial Closing; 

(vii)all of the Seller’s rights under the Registration Rights Agreement with respect to the Initial Transaction Shares shall have been transferred to the Purchaser in accordance with Section 8(b) of this Agreement; 

(viii)each of the Seller and the Company shall have delivered to the Purchaser a certificate, dated as of the Initial Closing Date and executed by an authorized representative of the Seller or the Company, as applicable, affirming that such party’s obligations with respect to the conditions set forth in Section 6(b)(i), Section 6(b)(ii), Section 6(b)(iii), Section 6(b)(iv) and Section 6(b)(v) of this Agreement have been satisfied; and

(ix)except for the Stockholder Agreement, the Company shall not have become a party to any shareholder rights plan (as such term is commonly understood in connection with corporate transactions) and shall not have unilaterally adopted, approved or implemented, in its organizational documents or otherwise, any “moratorium,” “control share,” “fair price,” “takeover” or “interested stockholder” provision that would cause the Purchaser to incur or suffer a detriment (including through disproportionate dilution, relative to other holders of shares of the Company’s capital stock, of the Purchaser’s equity or voting power or through a requirement to purchase or otherwise acquire, or offer to acquire, additional equity securities of the Company in the form of a mandatory offer requirement or similar provision), including by affecting the Purchaser’s ability to continue to hold or acquire additional shares of the Company’s common stock following the Initial Closing or that would have an adverse effect on the Purchaser’s representation on the Company’s board of directors after the Initial Closing.

(c)Conditions to the Seller’s Obligations.  The obligations of the Seller to consummate the Initial Transaction are also subject to the satisfaction or waiver of the following conditions precedent:

(i)the representations and warranties of the Purchaser contained in this Agreement shall be true and correct in all respects as of the date hereof and as of the Initial Closing Date, including as if made both on the date hereof and on the Initial Closing Date;

(ii)the Purchaser shall have complied in all material respects with all of the Purchaser’s covenants and agreements contained in this Agreement to be performed by the Purchaser on or prior to the Initial Closing Date, including the payment of the Initial Purchase Price; 

(iii)the Purchaser shall have complied in all material respects with those provisions of the Stockholder Agreement (as initially executed and delivered) that govern the extent to which the Purchaser may purchase securities of the Company prior to the execution and delivery of the Credit Agreement Amendment by all applicable parties thereto; and

(iv)the Purchaser shall have delivered to the Seller a certificate, dated as of the Initial Closing Date and executed by an authorized representative of the Purchaser, affirming that the conditions set forth in Section 6(c)(i) and Section 6(c)(ii) of this Agreement have been satisfied.

Section 7.Conditions Precedent to the Obligations of the Purchaser and the Seller to Consummate the Second Transaction.

(a)Conditions to the Obligations of Both the Purchaser and the Seller.  The respective obligations of the Purchaser and the Seller to consummate the Second Transaction are subject to the satisfaction or waiver of the following conditions: 

(i)    at the Second Closing Date, there shall be no order or Law of any nature of any court or governmental authority or body of competent jurisdiction in effect that restrains, enjoins or prohibits the consummation of the Second Transaction; and
(ii)    the Initial Closing shall have been consummated at least twelve business days prior to the Second Closing Date.
(b)Conditions to the Purchaser’s Obligations.  The obligations of the Purchaser to consummate the Second Transaction are also subject to the satisfaction or waiver of the following conditions precedent:

(i)the representations and warranties of the Seller contained in Section 3(d), Section 3(e), and Section 3(f)(i) of this Agreement shall be true and correct in all respects (without giving effect to any materiality or Material Adverse Effect qualifications) in each case as of the date hereof and as of the Second Closing Date including as if made both on the date hereof and on the Second Closing Date, except for such failures to be true and correct as would not have, individually or in the aggregate, a Material Adverse Effect;

(ii)the representations and warranties of the Seller contained in Section 3 of this Agreement, other than the representations and warranties set forth in Section 3(d), Section 3(e), and Section 3(f)(i) of this Agreement, shall be true and correct in all respects, in each case, as of the date hereof and as of the Second Closing Date, including as if made both on the date hereof and on the Second Closing Date;

(iii)the representations and warranties of the Company contained in Section 4(c), Section 4(d), Section 4(e) and Section 4(f)(i) of this Agreement shall be true and correct in all respects (without giving effect to any materiality or Material Adverse Effect qualifications) in each case as of the date hereof and as of the Second Closing Date including as if made both on the date hereof and on the Second Closing Date, except for such failures to be true and correct as would not have, individually or in the aggregate, a Material Adverse Effect;

(iv)the representations and warranties of the Company contained in Section 4 of this Agreement, other than the representations and warranties set forth in Section 4(c) Section 4(d), Section 4(e) and Section 4(f)(i) of this Agreement, shall be true and correct in all respects, in each case, as of the date hereof and as of the Second Closing Date, including as if made both on the date hereof and on the Second Closing Date;

(v)the Seller and the Company shall have complied in all material respects with all of the respective party’s covenants and agreements contained in this Agreement to be performed by such party on or prior to the Second Closing Date; provided that the Seller shall have complied in all respects with each of the Seller’s covenants and agreements set forth in Sections 8(b)(iii),  9(a)(ii) and 9(a)(iii) of this Agreement;

(vi)the Credit Agreement shall have been amended by the parties thereto to provide substantially in the form set forth in Schedule II annexed hereto, subject to any additional modifications as shall be consented to by the Purchaser, such consent not to be unreasonably withheld, conditioned or delayed (in the form set forth in such Schedule II, subject to any such modifications, the “Credit Agreement Amendment”);

(vii)each person on the board of directors of the Company and/or the board of directors of any subsidiary of the Company that is affiliated with any Seller Released Person shall have resigned from the board of directors of the Company and such subsidiaries, and there shall have been appointed to the board of directors of the Company two individuals designated by the Purchaser, in each case effective upon consummation of the Second Closing; 

(viii)all of the Seller’s rights under the Registration Rights Agreement with respect to the Second Transaction Shares shall have been transferred to the Purchaser in accordance with Section 8(b) of this Agreement; 

(ix)each of the Seller and the Company shall have delivered to the Purchaser a certificate, dated as of the Second Closing Date and executed by an authorized representative of the Seller or the Company, as applicable, affirming that such party’s obligations with respect to the conditions set forth in Section 7(b)(i), Section 7(b)(ii), Section 7(b)(iii), Section 7(b)(iv) and Section 7(b)(v) of this Agreement have been satisfied; and

(x)the Company shall not have become a party to any shareholder rights plan (as such term is commonly understood in connection with corporate transactions) and shall not have unilaterally adopted, approved or implemented, in its organizational documents or otherwise, any “moratorium,” “control share,” “fair price,” “takeover” or “interested stockholder” provision that would cause the Purchaser to incur or suffer a detriment (including through disproportionate dilution, relative to other holders of Shares, of the Purchaser’s equity or voting power or through a requirement to purchase or otherwise acquire, or offer to acquire, additional equity securities of the Company in the form of a mandatory offer requirement or similar provision), including by affecting the Purchaser’s ability to continue to hold or acquire additional shares of the Company’s common stock following the Second Closing or that would have an adverse effect on the Purchaser’s representation on the Company’s board of directors after the Second Closing.

(c)Conditions to the Seller’s Obligations.  The obligations of the Seller to consummate the Second Transaction are also subject to the satisfaction or waiver of the following conditions precedent:

(i)the representations and warranties of the Purchaser contained in this Agreement shall be true and correct in all respects as of the date hereof and as of the Second Closing Date, including as if made both on the date hereof and on the Second Closing Date;

(ii)the Purchaser shall have complied in all material respects with all of the Purchaser’s covenants and agreements contained in this Agreement to be performed by the Purchaser on or prior to the Second Closing Date, including but not limited to the payment of the Second Purchase Price; 

(iii)the Purchaser shall have complied in all material respects with those provisions of the Stockholder Agreement (as initially executed and delivered) that govern the extent to which the Purchaser may purchase securities of the Company prior to the execution and delivery of the Credit Agreement Amendment by all applicable parties thereto; and

(iv)the Purchaser shall have delivered to the Seller a certificate, dated as of the Second Closing Date and executed by an authorized representative of the Purchaser, affirming that the conditions set forth in Section 7(c)(i), Section 7(c)(ii) and Section 7(c)(iii) of this Agreement have been satisfied.

Section 8.Covenants.

(a)Efforts.  Each of the parties hereto shall cooperate with the other parties hereto and use (and shall cause their respective Affiliates to use) their respective reasonable best efforts to promptly take, or cause to be taken, all actions, and do, or cause to be done, all things, necessary, proper or advisable under this Agreement and applicable Laws to consummate the Transactions as promptly as practicable.  Among other things, the Seller shall use commercially reasonable efforts to cause the Company to execute and deliver the Credit Agreement Amendment as promptly as practicable and the Company shall use best efforts to cause the Credit Agreement Amendment to be executed and delivered by the parties thereto as promptly as practicable.  The Purchaser and the Seller shall provide the Company with such information as the Company shall reasonably request in connection with the efforts of the Seller and the Company to have executed and delivered the Credit Agreement Amendment.  

(b)Rights Under the Registration Rights Agreement.

(i)Contemporaneous with the Initial Closing, all of the Seller’s rights under the Registration Rights Agreement with respect to the Initial Transaction Shares and all of the Seller’s obligations first arising after the date of the Initial Closing with respect to the Initial Transaction Shares, shall have been transferred to the Purchaser, such that the Purchaser shall have resale registration rights, including the exclusive right to six of the ten Demand Registrations (as defined in the Registration Rights Agreement) of the Seller pursuant to Section 2.01(a) of the Registration Rights Agreement, and the related obligations with respect to the Initial Transaction Shares pursuant to Section 3.01(a) of the Registration Rights Agreement.  In order to effectuate the transfer of such registration rights and obligations, in accordance with Section 3.01(b) of the Registration Rights Agreement, contemporaneous with the Initial Closing, (A) the Seller shall deliver a notice to the Company, in the form attached hereto as Exhibit A, stating the name and address of the Purchaser, identifying the Initial Transaction Shares as the securities with respect to which rights and obligations under the Registration Rights Agreement are being transferred and stating that the rights and obligations being so transferred are resale registration rights and the related obligations under the Registration Rights Agreement with respect to the Initial Transaction Shares, and (B) the Purchaser shall deliver to the Company a written agreement, in the form attached hereto as Exhibit B, to be bound by the terms of the Registration Rights Agreement with respect to the resale of the Initial Transaction Shares.

(ii)Contemporaneous with the Second Closing, all of the Seller’s rights under the Registration Rights Agreement with respect to the Second Transaction Shares and all of the Seller’s obligations first arising after the date of the Second Closing with respect to the Second Transaction Shares, shall have been transferred to the Purchaser, such that the Purchaser shall have resale registration rights, including the exclusive right to the remaining Demand Registrations of the Seller pursuant to Section 2.01(a) of the Registration Rights Agreement,  and the related obligations with respect to the Second Transaction Shares pursuant to Section 3.01(a) of the Registration Rights Agreement.  In order to effectuate the transfer of such registration rights and obligations, in accordance with Section 3.01(b) of the Registration Rights Agreement, contemporaneous with the Second Closing, (A) the Seller shall deliver a notice to the Company, in the form attached hereto as Exhibit A, stating the name and address of the Purchaser, identifying the Second Transaction Shares as the securities with respect to which rights and obligations under the Registration Rights Agreement are being transferred and stating that the rights and obligations being so transferred are resale registration rights and the related obligations under the Registration Rights Agreement with respect to the Second Transaction Shares, and (B) the Purchaser shall deliver to the Company a written agreement, in the form attached hereto as Exhibit B, to be bound by the terms of the Registration Rights Agreement with respect to the resale of the Second Transaction Shares.

(iii)Except as set forth in the second sentence of this Section 8(b)(iii), the Seller shall not exercise its right to a Demand Registration pursuant to Section 2.01 of the Registration Rights Agreement. Notwithstanding the foregoing, this Section 8(b)(iii) shall not preclude the Seller from exercising its right to a Demand Registration pursuant to Section 2.01 of the Registration Rights Agreement with respect to all of the Transaction Shares if this Agreement is terminated prior to the Initial Closing and, subject to the Purchaser’s rights pursuant to Section 8(b)(i) above, shall not preclude the Seller from exercising such right with respect to all of the Second Transaction Shares if this Agreement is terminated after the Initial Closing but prior to the Second Closing; provided, however, that in the event either the Seller or the Purchaser shall thereafter exercise its right to a Demand Registration and the other party exercises its piggyback registration rights pursuant to Section 2.02 of the Registration Rights Agreement, notwithstanding the terms of Section 2.01(f) of the Registration Rights Agreement, the Seller and the Purchaser agree that any “cutback” on the number of shares to be registered by the Company shall be allocated pro rata between the Seller and the Purchaser.  

(iv)The Company hereby agrees and confirms that the Seller’s rights and obligations under the Registration Rights Agreement with respect to the Initial Transaction Shares and the Second Transaction Shares are transferable to the Purchaser, and will be duly and effectively transferred to the Purchaser, in the manner set forth in Section 8(b)(i) and Section 8(b)(ii) of this Agreement. 

(c)Transfer of the Transaction Shares.  The Company shall provide all customary documentation required to effect the transfer of (i) the Initial Transaction Shares at the Initial Closing and (ii) the Second Transaction Shares at the Second Closing, in each case, on the books of the Company and the records of the Company’s transfer agent, including by providing any legal opinions or other documentation requested by the Company’s transfer agent in connection with such transfers.  The Company acknowledges and agrees that, from and after the Initial Closing, the Purchaser and its Affiliates are express assignees or designees of the Seller for all purposes as contemplated in the Company’s Second Amended and Restated Certificate of Incorporation, dated February 24, 2015, as the same may be amended from time to time, and, for the avoidance of doubt, the Company confirms that shares of common stock of the Company beneficially owned by the Seller and the Purchaser and their respective Affiliates will be aggregated for purposes of any such determination.  The Seller confirms such assignment and designation.

(d)Modification of the Existing S-3 Registration Statement. In the event that the Initial Closing is consummated, then, promptly after the earlier of the termination of this Agreement or the consummation of the Second Closing, the Company shall file with the SEC either the Prospectus Supplement or the Post-Effective Amendment. If the Company files the Post-Effective Amendment with the SEC, the Company shall thereafter use reasonable commercial efforts to have the SEC declare the Post-Effective Amendment effective as promptly as practicable.

Section 9.Deliveries and Payments.

(a)Deliveries by the Seller.

(i)In making the delivery of the Initial Transaction Shares contemplated by Section 1(c) of this Agreement, subject to the satisfaction or waiver of the applicable conditions, at the Initial Closing the Seller shall cause the Initial Transaction Shares to be transferred in electronic form via book entry transfer to the Purchaser and the Company shall cause its transfer agent to reflect the Purchaser’s receipt of the Initial Transaction Shares in book-entry form, including registering the Initial Transaction Shares in the name of the Purchaser.

(ii)In making the delivery of the Second Transaction Shares contemplated by Section 2(c) of this Agreement, subject to the satisfaction or waiver of the applicable conditions, at the Second Closing the Seller shall cause the Second Transaction Shares to be transferred in electronic form via book entry transfer to the Purchaser and the Company shall cause its transfer agent to reflect the Purchaser’s receipt of the Second Transaction Shares in book-entry form, including registering the Second Transaction Shares in the name of the Purchaser.

(iii)The Transaction Shares delivered to the Purchaser at the Initial Closing and the Second Closing shall be free and clear of all Encumbrances and Transfer Restrictions (other than the Permitted Restrictions).  In the event that any of the Transaction Shares are held in “street name” through a bank, broker or other nominee, the Seller shall instruct such bank, broker or nominee to transfer the Transaction Shares to the Purchaser as provided in this Agreement.

(b)Payments by the Purchaser.

(i)In making the payment contemplated by Section 1(c) of this Agreement, subject to the satisfaction or waiver of the applicable conditions, at the Initial Closing, immediately prior to the transfer of the Initial Transaction Shares, the Purchaser shall pay or cause to be paid, against the delivery of such Transaction Shares, the Initial Purchase Price by wire transfer of immediately available funds to an account designated by the Seller at least one business day prior to the Initial Closing (it being understood that the Purchaser will complete the payment to such account, and Seller will have received confirmation of such payment, immediately prior to the transfer to the Purchaser of the Initial Transaction Shares and the receipt of such evidence of book-entry notations reflecting the purchase of the Initial Transaction Shares hereunder).

(ii)In making the payment contemplated by Section 2(c) of this Agreement, subject to the satisfaction or waiver of the applicable conditions, at the Second Closing, immediately prior to the transfer of the Second Transaction Shares, the Purchaser shall pay or cause to be paid, against the delivery of such Transaction Shares, the Second Purchase Price by wire transfer of immediately available funds to an account designated by the Seller at least one business day prior to the Second 

Closing (it being understood that the Purchaser will complete the payment to such account, and Seller will have received confirmation of such payment, immediately prior to the transfer to the Purchaser of the Second Transaction Shares and the receipt of such evidence of book-entry notations reflecting the purchase of the Second Transaction Shares hereunder).

Section 10.Termination.

(a)Termination Events.  This Agreement may be terminated and the Transactions (to the extent not theretofore consummated) may be abandoned:

(i)by mutual written consent of the Purchaser and the Seller;

(ii)by either the Purchaser or the Seller, each in its sole discretion and upon written notice to the other party, if the Initial Closing shall not have been consummated on or before five months from the date hereof (the “Initial Closing Outside Date”); provided, however, that this right to terminate this Agreement shall not be available to any party who is in breach in any material respect of any of its obligations hereunder;

(iii)by either the Purchaser or the Seller, each in its sole discretion and upon written notice to the other party, if the Second Closing shall not have been consummated on or before six months from the date hereof  (the “Second Closing Outside Date”); provided, however, that (A) this right to terminate this Agreement shall not be available to any party who is in breach in any material respect of any of its obligations hereunder and (B) any such termination pursuant to this Section 10(a)(iii) shall apply solely with respect to the Second Closing;

(iv)by the Purchaser if any of the conditions set forth in Sections 6(a) or 6(b) of this Agreement shall have become incapable of fulfillment by the Initial Closing Outside Date and shall not have been waived by the Purchaser;

(v)by the Purchaser if any of the conditions set forth in Sections 7(a) or 7(b) of this Agreement shall have become incapable of fulfillment by the Second Closing Outside Date and shall not have been waived by the Purchaser; provided, however, that any such termination pursuant to this Section 10(a)(v) shall apply solely with respect to the Second Closing;

(vi)by the Seller if any of the conditions set forth in Section 6(a) or Section 6(c) of this Agreement shall have become incapable of fulfillment by the Initial Closing Outside Date and shall not have been waived by the Seller; or

(vii)by the Seller if any of the conditions set forth in Section 7(a) or Section 7(c) of this Agreement shall have become incapable of fulfillment by the Second Closing Outside Date and shall not have been waived by the Seller; provided, however, that any such termination pursuant to this Section 10(a)(vii) shall apply solely with respect to the Second Closing.

(b)Effect of Termination.  In the event of any termination of this Agreement as provided in Section 10(a) of this Agreement, this Agreement shall forthwith become void and of no further force and effect and there shall be no liability on the part of the Purchaser, the Company or the Seller, except that (i) if such termination occurs after the Initial Closing has been consummated, such termination shall apply solely with respect to the Second Closing, (ii) the obligations of the parties under this Section 10(b) and Section 11, Section 12, Section 13, Section 14, Section 15, Section 16, Section 18, Section 19, Section 20, Section 21, 

Section 22, Section 23, Section 24, Section 25 and Section 26 of this Agreement shall remain in full force and effect, and (iii) except as otherwise provided in Section 5(d)(ii) and Section 5(f) of this Agreement, termination shall not preclude any party from bringing suit against any other party for any breach of this Agreement if such breach resulted from such other’s party’s intentional misconduct.

Section 11.Certain Definitions.  When used in this Agreement, the following terms shall have the meanings set forth below:

“Affiliate” means, with respect to any person or entity, any other person or entity that, directly or indirectly, through one or more intermediaries, controls, or is controlled by, or is under common control with, such person or entity, and the term “control” (including the terms “controlled by” and “under common control with”) means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such person or entity, whether through ownership of voting securities, by contract or otherwise.  For the avoidance of doubt, neither the Company nor any of its subsidiaries shall be considered an “Affiliate” of any Seller Released Person.
“Credit Agreement” means the credit agreement and joinder agreement, dated as of September 28, 2015, among the Company, Peach County Holdings Inc., Blue Bird Global Corporation, Blue Bird Body Company, each loan party that is a party thereto, Société Générale, as an issuing bank and the swingline lender, and Société Générale, as Administrative Agent.
“Encumbrance” means any pledge, hypothecation, assignment, lien, stock legend, restriction, charge, claim, security interest, option, right of first refusal, preference, priority or other preferential arrangement of any kind or nature whatsoever.
“Knowledge” means, with respect to the Seller, the actual knowledge of Dev Kapadia and Chan W. Galbato.

“Law” means any foreign, federal, state, local law, statute, code, ordinance, rule or regulation.
“Material Adverse Effect” means any change, event, development, condition, occurrence or effect (each, an “Event”) that is, or would reasonably be expected to be, materially adverse to the business, condition (financial or otherwise), assets, liabilities or results of operations of the Company and its subsidiaries, taken as a whole; provided, however, that none of the following shall be deemed in themselves, either alone or in combination, to constitute, and none of the following shall be taken into account in determining whether there has been or will be, a Material Adverse Effect: (i) any changes resulting from general market, economic, financial, capital markets or political or regulatory conditions, (ii) any changes or proposed changes of Law or GAAP (or, in each case, any authoritative interpretations thereof), (iii) any changes resulting from any act of terrorism, war, national or international calamity, or any worsening thereof, (iv) any changes generally affecting the industries in which the Company and its subsidiaries conduct their businesses or (v) any decline in the market price of the Company’s common stock; provided that this clause (v) shall not preclude any Event that may have contributed to or caused such decline from being taken into account in determining whether a Material Adverse Effect has occurred; and provided, further, however, that any Event referred to in clauses (i), (ii), (iii) or (iv) of this definition may constitute (and may be taken into account in determining the occurrence or expected occurrence of) a Material Adverse Effect if such Event adversely affects the Company and its subsidiaries in a disproportionate manner relative to other participants in the Company’s industry.
“Organizational Documents” means (a) in the case of a person or entity that is a corporation, its articles or certificate of incorporation and its by-laws, regulations or similar governing instruments required 

by the Laws of its jurisdiction of formation or organization; (b) in the case of a person or entity that is a partnership, its articles or certificate of partnership, formation or association, and its partnership agreement (in each case, limited, limited liability, general or otherwise); (c) in the case of a person or entity that is a limited liability company, its articles or certificate of formation or organization, and its limited liability company agreement or operating agreement; and (d) in the case of a person or entity that is none of a corporation, partnership (limited, limited liability, general or otherwise), limited liability company or natural person, its governing instruments as required or contemplated by the Laws of its jurisdiction of organization.
“Post-Effective Amendment” means a post-effective amendment to the Company’s registration statement on Form S-3, file number 333-202801, reflecting the resale registration of the Transaction Shares purchased by the Purchaser hereunder and the inclusion of the Purchaser as a “selling security holder” thereunder.
“Prospectus Supplement” means a prospectus supplement to the prospectus contained in the Company’s registration statement on Form S-3, file number 333-202801, reflecting the resale registration of the Transaction Shares purchased by the Purchaser hereunder and the inclusion of the Purchaser as a “selling security holder” thereunder.
“Registration Rights Agreement” means the registration rights agreement, dated February 24, 2015, by and among the Company, the Seller and the other parties named therein.
“SEC Documents” means all reports, schedules, forms, statements, registration statements, prospectuses and other documents required to be filed or furnished by the Company to the SEC under the Securities Act and the Exchange Act for all periods subsequent to February 24, 2015.
“Transfer Restriction” means, with respect to any security or other property, any condition to or restriction on the ability of the holder thereof to sell, assign or otherwise transfer such security or other property or to enforce the provisions thereof or of any document related thereto, whether set forth in such security or other property itself or in any document related thereto or arising by operation of law, including, without limitation, such conditions or restrictions arising under federal, state or foreign Laws or under any contracts, arrangements or agreements.
Section 12.Entire Agreement; Amendment and Modification.  This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and, except as otherwise expressly agreed contemporaneously with the execution of this Agreement, supersedes any prior agreements between the parties, written or oral.  This Agreement may be amended or modified only by a writing signed by the parties hereto.

Section 13.Waiver.  Any of the terms or conditions of this Agreement may be waived at any time by the party or parties entitled to the benefit thereof, but only by a writing signed by the party or parties waiving such terms or conditions.  No waiver of any provision of this Agreement or of any rights or benefits arising hereunder shall be deemed to constitute or shall constitute a waiver of any other provision of this Agreement (whether or not similar), nor shall any such waiver constitute a continuing waiver, unless otherwise expressly provided in writing.

Section 14.Governing Law; Jurisdiction and Venue.  This Agreement is made under and shall be governed by the Laws of the State of New York without giving effect to the principles of conflicts of laws or choice of laws thereof.  The parties hereto expressly agree that, with respect to any dispute, litigation or other matter relating to or arising out of the relationships contemplated by this Agreement, exclusive jurisdiction and venue thereof shall be in the Federal Court of the United States located in the Southern 

District of New York, and each of the parties hereto hereby expressly (i) consents to the exclusive jurisdiction and venue of such Court, (ii) agrees that all claims with respect to any such action or proceeding shall be heard and determined in such Court, (iii) irrevocably waives any defense of an inconvenient forum to the maintenance of any action or proceeding in such Court, (iv) consents to service of process by mailing or delivering such service to the party at its respective principal business address and (v) agrees that a final judgment in any such action or proceeding from which there is no further appeal shall be conclusive and may be enforced in any other jurisdictions by suit on the judgment or in any manner provided by Law.

Section 15.Waiver of Jury Trial.  EACH OF THE PARTIES HERETO HEREBY WAIVES ANY RIGHT TO A TRIAL BY JURY IN ANY LAWSUIT, PROCEEDING OR ACTION TO ENFORCE OR DEFEND ANY RIGHT UNDER THIS AGREEMENT OR ANY AMENDMENT, INSTRUMENT, DOCUMENT OR AGREEMENT DELIVERED OR TO BE DELIVERED IN CONNECTION WITH THIS AGREEMENT AND AGREES THAT ANY LAWSUIT, PROCEEDING OR ACTION WILL BE TRIED BEFORE A JUDGE AND NOT BEFORE A JURY.

Section 16.Notices.  Notices required or permitted to be given under this Agreement shall be in writing and shall be deemed given (i) when personally delivered, (ii) one business day after being sent by FedEx or other internationally recognized overnight delivery service or (iii) when sent by electronic mail.  All notices shall be addressed to the parties as follows:

If to the Seller:

c/o Cerberus Capital Management, L.P.
875 Third Avenue, 11th Floor
New York, NY 10022
Attention:  Dev Kapadia, Managing Director
Email:  dkapadia@cerberuscapital.com

with a required copy to:

c/o Cerberus Capital Management, L.P.
875 Third Avenue, 12th Floor
New York, NY 10022
Attention:  Stuart Reisman, Associate General Counsel
Email:  sreisman@cerberusoperations.com
and with a required copy to:

Lowenstein Sandler LLP
1251 Avenue of the Americas, 17th Floor
New York, NY 10020
Attention:  Robert G. Minion, Esq. and Peter H. Ehrenberg, Esq.
Email:  rminion@lowenstein.com and pehrenberg@lowenstein.com

If to the Purchaser:

ASP BB Holdings LLC
c/o American Securities, LLC
299 Park Avenue
34th Floor
New York, New York 10171
Attention:  Eric L. Schondorf, General Counsel
Email:  eschondorf@american-securities.com

with a required copy to:

Weil, Gotshal & Manges LLP
767 Fifth Avenue
New York, NY 10153
Attention:  Michael E. Lubowitz, Esq.
Email:  michael.lubowitz@weil.com

If to the Company:

Blue Bird Corporation
402 Blue Bird Boulevard 
Fort Valley, Georgia 31030
Attention: Paul Yousif, Esq.
Email: paul.yousif@blue-bird.com

with a required copy to:

Smith, Gambrell & Russell, LLP
Promenade, Suite 3100
1230 Peachtree Street, N.E.
Atlanta, Georgia 30309-3592
Attn: Terry Ferraro Schwartz, Esq.
Email: TSCHWARTZ@sgrlaw.com

and with a required copy to:

Morris Nichols Arsht & Tunnell, LLP
1201 North Market Street, 16th Floor
P.O. Box 1347
Wilmington, Delaware 19899
Attn: Jeffrey Wolters, Esq.
Email:jwolters@mnat.com

Section 17.Assignment; Binding Effect.  No party hereto may transfer, sell, encumber, appoint agents with respect to, or assign its rights or obligations under this Agreement in whole or in part without the prior written consent of the other parties to this Agreement; provided, however, that the Purchaser may assign this Agreement and any and all of its rights and obligations hereunder to any Affiliate of the Purchaser.  

No assignment by the Purchaser shall relieve the Purchaser of any of its obligations hereunder.  Without limiting any other rights or remedies of the parties, any assignment by a party in violation of the foregoing shall be of no force and effect and void ab initio.  Without limiting any of the foregoing, this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and any permitted assigns.

Section 18.Further Assurances.  In the event that any additional agreements, instruments or other actions are required in the reasonable opinion of any of the parties hereto, the Company, DTC or any other person or entity in order to effectuate the intent and purposes of this Agreement and the transactions contemplated hereby, the parties hereto shall prepare, execute and deliver such additional agreements and other instruments in mutually acceptable form, and take such other further actions as may be required to carry out the provisions of this Agreement and consummate and make effective the transactions contemplated hereby.

Section 19.Counterparts; Signatures.  This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  Signatures on this Agreement may be conveyed by electronic transmission and shall be binding upon the parties so transmitting their signatures.  Counterparts with original signatures shall be provided to the other parties following the applicable electronic transmission; provided, however, that failure to provide the original counterpart shall have no effect on the validity or the binding nature of this Agreement.

Section 20.Severability.  If any provision of this Agreement shall be held to be illegal, invalid or unenforceable under any applicable Law, then such provision shall be deemed modified to the extent necessary to render it legal, valid and enforceable, and if no such modification shall render it legal, valid and enforceable, then this Agreement shall be construed as if not containing such provision, and the rights and obligations of the parties shall be construed and enforced accordingly.

Section 21.No Strict Construction.  This Agreement has been jointly drafted by the parties hereto, after negotiations and consultations with their respective counsel.  This Agreement shall not be construed more strictly against one party than against the other party.

Section 22.Headings and Captions.  Headings and captions of this Agreement are for convenience of reference only and are not to be construed in any way as part of this Agreement or in the interpretation of this Agreement.  Whenever the word “including” is used in this Agreement, it shall be deemed to be followed by the words “without limitation.”

Section 23.United States Dollars.  All payments pursuant to this Agreement shall be made in United States dollars.

Section 24.Schedule 13D Amendment; Other Public Announcements.  The Seller agrees that the current beneficial owner of the Transaction Shares shall, promptly after the execution of this Agreement, file a copy of this Agreement with the Securities and Exchange Commission pursuant to a filing of an amendment to a Schedule 13D and shall make related disclosures therein; a draft copy of such amendment has been provided to the Purchaser.  Without the prior written consent of the other party, no party to this Agreement shall, directly or indirectly, make or cause to be made, any press release, filing or other public disclosure relating to the Transactions or this Agreement, provided, however, that a party may disclose such information if required by applicable Law, regulation or legally binding request by any regulatory authority, after consultation with the other parties and after being advised by its outside legal counsel that such disclosure is so legally required; and provided, further, that in such event the disclosing party shall, except to the extent 

advance notice of such disclosure would cause the disclosing party to violate applicable Law or regulation, provide advance notice of such disclosure to the other parties together with a copy of the anticipated disclosure (or such portions thereof that relate to the other party or to the terms of this Agreement) and give the other party the opportunity to reasonably comment on such portions of the disclosure.

Section 25.Remedies.  Each party hereto agrees that money damages may not be a sufficient remedy for any breach of this Agreement by any party hereto and that the other party may suffer irreparable harm as a result of any such breach.  Without prejudice to the rights and remedies otherwise available to the parties hereto, each party agrees that the parties shall be entitled, without the requirement of posting a bond or other security, to equitable relief, including an injunction or specific performance, in the event of any breach or threatened breach of the provisions of this Agreement by the other party; provided, however, subject to the rights of the Purchaser reserved in Section 5(f) of this Agreement, that the sole remedy available to the Purchaser with respect to the breach of Section 3(d), Section 3(e), Section 3(f), Section 4(c), Section 4(d), Section 4(e) and Section 4(f) of this Agreement shall be to terminate this Agreement to the extent contemplated by Section 10(a)(iv) or Section 10(a)(v) of this Agreement.  Except with respect to the breach of Section 3(d), Section 3(e), Section 3(f), Section 4(c), Section 4(d), Section 4(e) and Section 4(f) of this Agreement, for which the sole remedy available to the Purchaser shall be to terminate this Agreement to the extent contemplated by Section 10(a)(iv) or Section 10(a)(v) of this Agreement, the remedies available to the parties hereto shall not be deemed to be exclusive remedies but shall be in addition to all other remedies available at Law or equity to such parties.

Section 26.Survival of Representations and Warranties.  The representations and warranties set forth in Section 3(a), Section 3(c), Section 3(g), Section 3(h), Section 4(a), Section 5(a), Section 5(c), Section 5(d), Section 5(e), Section 5(f) and Section 5(g)(i) of this Agreement shall survive in full force and effect indefinitely.  All other representations and warranties of the parties contained in this Agreement shall not survive the Initial Closing Date with respect to the Initial Transaction and shall not survive the Second Closing Date with respect to the Second Transaction.  Other than the covenants and agreements of the parties contained in Section 9, Section 18, Section 24, Section 26 and Section 27 of this Agreement and the provisions set forth in Section 12, Section 13, Section 14, Section 15, Section 16, Section 17, Section 20, Section 21, Section 22 and Section 25 to the extent applicable to surviving obligations, the covenants and agreements of the parties hereto contained in this Agreement shall not survive the Initial Closing Date with respect to the Initial Transaction and shall not survive the Second Closing Date with respect to the Second Transaction.

Section 27.Expenses.  Each of the parties hereto shall bear its own expenses incurred in connection with the negotiation and execution of this Agreement and each other agreement, document and instrument contemplated by this Agreement and the consummation of the Transactions contemplated hereby and thereby.  

[Signatures are set forth on the next page or pages]

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed and delivered as of the date first above written.
 	
	
	THE TRAXIS GROUP B.V.

	By: /s/ Dev Kapadia

	Name: Dev Kapadia

	Title: Managing Director

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed and delivered as of the date first above written.
	
	
	BLUE BIRD CORPORATION

	By: /s/ Phil Horlock

	Name: Phil Horlock

	Title: President & CEO

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed and delivered as of the date first above written.
	
	
	ASP BB HOLDINGS LLC

	By: /s/ Kevin S. Penn

	Name: Kevin S. Penn

	Title: President

Schedule I
AGREEMENTS RELATING TO THE TRANSACTION SHARES
Director Removal Letter Agreement, dated as of September 21, 2014, by and between The Traxis Group B.V. and Hennessy Capital Partners I LLC, which was filed as  Exhibit 10.4 to the Company’s Current Report on Form 8-K filed with the SEC on September 24, 2014.

Schedule II
(DRAFT) AMENDMENT NO. 2 TO CREDIT AGREEMENT  (DRAFT)
AMENDMENT NO. 2 TO THE CREDIT AGREEMENT AND PARENT JOINDER AGREEMENT (this “Amendment”), dated as of [__], 2016, among BLUE BIRD CORPORATION (f/k/a Hennessy Capital Acquisition Corp.), a Delaware corporation (the “Parent”), BLUE BIRD BODY COMPANY, a Georgia corporation (the “Borrower”), each Lender party hereto and Société Générale (acting through one or more of its branches or any Affiliate thereof, collectively, “SG”), as Administrative Agent (in such capacity, the “Administrative Agent”).  Capitalized terms not otherwise defined in this Amendment have the same meanings as specified in the Credit Agreement referred to below.
PRELIMINARY STATEMENTS:
WHEREAS, Parent, the Borrower, certain of their Affiliates, the Lenders party thereto and SG, as Administrative Agent, entered into that certain Credit Agreement, dated as of June 27, 2014 (as amended by Amendment No. 1 to Credit Agreement and Parent Joinder Agreement, dated as of September 28, 2015, and as it may be further amended, restated, supplemented, or otherwise modified from time to time, the “Credit Agreement”);

WHEREAS, Cerberus Capital Management L.P., Oak Hill Advisors, L.P. and their respective Control Investment Affiliates (collectively, the “Sellers”) intend to transfer (the “Sponsor Transfer”) all of the Equity Interests of Holdings owned by Sellers to American Securities, LLC and/or its Control Investment Affiliates (collectively, the “Buyers”); and

WHEREAS, in connection with the Sponsor Transfer, the Borrower wishes to effect an amendment to the Credit Agreement;

NOW, THEREFORE, in consideration of the premises and agreements, provisions and covenants herein contained, the Borrower, the Parent, the Administrative Agent and the Lenders party hereto have agreed to amend the Credit Agreement on the terms and conditions hereinafter set forth.

SECTION 1.Amendment to the Credit Agreement.  The Credit Agreement is, effective as of the Amendment No. 2 Effective Date, hereby amended as follows:

(a)Section 1.01 of the Credit Agreement is amended by adding in the appropriate alphabetical order the following new definitions:
“Cerberus” means Cerberus Capital Management L.P. and its Control Investment Affiliates.
“Existing Sponsors” means, collectively, Cerberus and Oak Hill; and “Existing Sponsor” means each of them, individually.
“New Sponsor” means American Securities, LLC and its Control Investment Affiliates
“Oak Hill” means Oak Hill Advisors, L.P. and its Control Investment Affiliates.
“Sponsor Transfer Date” means the first date that all of the Equity Interests of Holdings owned by the Existing Sponsors have been transferred to the New Sponsor.

(b)The definition of “Sponsors” set forth in Section 1.01 of the Credit Agreement is amended and restated in its entirety to read as follows:
“Sponsors” means (i) prior to the Sponsor Transfer Date, collectively, the Existing Sponsors and the New Sponsor and (ii) from and after the Sponsor Transfer Date, the New Sponsor; and “Sponsor” means each of them, individually.

SECTION 2.Conditions to Effectiveness.  This Amendment shall become effective as of the date (the “Amendment No. 2 Effective Date”) when, and only when, each of the following conditions have been satisfied or waived in accordance with the terms therein:

(a)The Administrative Agent shall have received counterparts of this Amendment executed by (i) the Administrative Agent, (ii) the Borrower, (iii) the Parent and (iv) the Required Lenders;

(b)The Borrower shall have paid (i) for the account, without duplication, of each Lender that has returned an executed signature page to this Amendment (each such Lender, a “Consenting Lender”) at or prior to 5:00 pm (New York City time) on [_____], 2016, fees in the amount equal to [___]% of the sum of such Consenting Lender’s (x) principal amount of outstanding Term Loans, in the case of a Term Lender, and (y) Revolving Commitments in the case of a Revolving Lender, in each case, as in effect immediately prior to the Amendment No. 2 Effective Date and (ii) all reasonable and documented out-of-pocket fees and expenses (limited to, with respect to legal fees and costs, the reasonable and documented out-of-pocket fees and expenses of Paul Hastings LLP) incurred by the Administrative Agent in connection with the preparation, negotiation and execution of this Amendment and other matters relating to the Loan Documents;

(c)(i) The representations and warranties of the Parent, the Borrower and each other Loan Party contained in this Amendment or any other Loan Document shall be true and correct in all material respects prior to and after giving effect to this Amendment and the transactions contemplated herein; provided that, to the extent that such representations and warranties specifically refer to an earlier date, they shall be true and correct in all material respects as of such earlier date; provided, further that, any representation and warranty that is qualified as to “materiality,” “Material Adverse Effect” or similar language shall be true and correct (after giving effect to any qualification therein) in all respects on such respective dates; (ii) no Default or Event of Default shall exist, or would result from (x) the consummation of the Sponsor Transfer or (y) the amendments to the Credit Agreement contemplated hereby, and the other transactions contemplated hereby; and

(d)the Administrative Agent shall have received a certificate dated as of the Amendment No. 2 Effective Date and executed by a Responsible Officer of the Borrower as to the matters set forth in Section 2(c) of this Amendment.

For purposes of determining compliance with the conditions specified in this Section 2, each Lender shall be deemed to have consented to, approved or accepted or to be satisfied with each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to the Lenders unless an officer of the Administrative Agent responsible for the transactions contemplated by the Loan Documents shall have received written notice from such Lender prior to the Amendment No. 2 Effective Date specifying its objection thereto.

SECTION 3.Representations and Warranties.  (a) Each of the Borrower and the Parent hereby represents and warrants, on and as of the Amendment No. 2 Effective Date, each on behalf of itself and the other Loan Parties, that the representations and warranties contained in the Loan Documents are true and correct in all material respects on and as of the Amendment No. 2 Effective Date, before and after giving effect to this Amendment, as though made on and as of the Amendment No. 2 Effective Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall have been true and correct in all material respects as of such earlier date, and except that any representation and warranty that is qualified as to “materiality,” “Material Adverse Effect” or similar language is true and correct (after giving effect to any qualification therein) in all respects as of such respective dates.

(a)Each of the Borrower and the Parent represents and warrants, on and as of the Amendment No. 2 Effective Date, that: (i) it has the requisite power to execute and deliver this Amendment, and all corporate or other action required to be taken by it for the due and proper authorization, execution, delivery and performance of this Amendment and the consummation of the transactions contemplated hereby has been duly and validly taken; (ii) this Amendment has been duly authorized, executed and delivered by it; and (iii) no order, consent, approval, license, authorization or validation of or filing, recording or registration or exemption by or any other action by any Governmental Authority is or will be required in connection with the execution and delivery of this Amendment.

(b)Each of the Borrower and the Parent hereby represents and warrants, on and as of the Amendment No. 2 Effective Date, each on behalf of itself, each Intermediate Parent and their respective Restricted Subsidiaries, that the Sponsor Transfer (i) does not require any consent or approval of, registration or filing with, or any other action by, any Governmental Authority or any other Person, except (x) such as have been obtained or made and are in full force and effect or (y) for consents, approvals, registrations, filings or other actions the failure to make or obtain would not reasonably be expected to be adverse in any material respect to the rights of the Administrative Agent or the Lenders, (ii) will not violate (x) the Organizational Documents of, or (y) any Requirements of Law applicable to, the Parent, the Borrower, any Intermediate Parent or any Restricted Subsidiary, (iii) will not violate or result in a default under any indenture or other material agreement or instrument binding upon the Parent, the Borrower, any Intermediate Parent or any Restricted Subsidiary or their respective assets, or give rise to a right thereunder to require any payment, repurchase or redemption to be made by the Parent, the Borrower, any Intermediate Parent or any Restricted Subsidiary, or give rise to a right of, or result in, termination, cancellation or acceleration of any obligation thereunder except (in the case of each of clauses (ii)(y) and (iii) to the extent that such violation, individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect and (iv) will not result in the creation or imposition of any Lien on any asset of the Parent, the Borrower, any Intermediate Parent or any Restricted Subsidiary.

(c)Each of the Borrower and the Parent hereby represents and warrants that both immediately before and after giving effect to the Amendment, no event has occurred and is continuing that constitutes a Default or Event of Default or would result therefrom.

SECTION 4.Reference to and Effect on the Credit Agreement and the other Loan Documents.

(a)On and after the effectiveness of this Amendment, each reference in the Credit Agreement and the other Loan Documents to “this Amendment”, “hereunder”, “hereof’ or words of like import referring to the Credit Agreement or such other Loan Document shall mean and be a reference to the Credit Agreement or such Loan Document as amended by this Amendment.

(b)The Credit Agreement and each other Loan Document as specifically amended by this Amendment are and shall continue to be in full force and effect and are hereby in all respects ratified, consented to and confirmed.  This Amendment shall be a “Loan Document” for purposes of the definition thereof in the Credit Agreement and the other Loan Documents.

(c)The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of any Lender or the Administrative Agent under the Credit Agreement or any other Loan Document.

SECTION 5.Expenses.  Each of the Borrower and the Parent hereby reconfirms its respective obligations pursuant to Section 9.03 (and subject to any limitations set forth therein) of the Credit Agreement to pay the reasonable and documented or invoiced out-of-pocket expenses incurred by the Administrative Agent in connection with this Amendment.

SECTION 6.Loan Document.  The parties hereto acknowledge and agree that this Amendment shall constitute a “Loan Document” for all purposes of the Credit Agreement and the other Loan Documents.

SECTION 7.Execution in Counterparts.  This Amendment may be executed in any number of counterparts and by the different parties hereto on separate counterparts, each of which when so executed and delivered shall be an original, but all of which shall together constitute one and the same instrument.  Delivery of an executed counterpart of a signature page of this Amendment by email, telecopy or other electronic transmission shall be effective as delivery of a manually executed counterpart of this Amendment.

SECTION 8.Governing Law.  This Amendment shall be governed by, and construed in accordance with, the laws of the State of New York.

SECTION 9.Headings.  Section headings are included herein for convenience of reference only and shall not constitute a part hereof for any other purpose or be given any substantive effect.

SECTION 10.Severability.  In case any provision in or obligation hereunder shall be invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired hereby.

SECTION 11.Notices; Successors; Waiver of Jury Trial.  All communications and notices hereunder shall be given as provided in the Credit Agreement.  The terms of this Amendment shall be binding upon, and shall inure to the benefit of, the parties hereto and their respective successors and assigns.  Each of the parties hereto irrevocably waives trial by jury in any action or proceeding with respect to this Amendment or any other Loan Document.

 [Signature Pages Follow.][Blue Bird - Amendment No. 2 - Signature Page]

IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their respective Responsible Officers as of the date first above written.

BLUE BIRD BODY COMPANY, 
as the Borrower

By:  ____________________________    
Name:
Title:

BLUE BIRD CORPORATION, as Parent

By:  ____________________________    
Name:
Title:

Société Générale, 
as Administrative Agent

By:___________________________    
Name:
Title:
 

________________________, 
as a Lender

By: ____________________________    
Name:
Title:

* If a second signature block is required:

By: ____________________________    
Name:
Title:

Exhibit A
Form of Registration Rights Agreement Notice
NOTICE OF TRANSFER OF RIGHTS UNDER REGISTRATION RIGHTS AGREEMENT

This Notice of Transfer of Rights (the “Notice”) under Registration Rights Agreement (as defined below) is given this ___ day of _____, 2016, by The Traxis Group B.V., a limited liability company existing under the laws of the Netherlands (the “Seller”) to Blue Bird Corporation, a Delaware corporation (the “Company”), in accordance with Section 3.01(b)(i) of that certain Registration Rights Agreement, dated as of February 24, 2015 (as the same may hereafter be amended, modified or amended and restated, the “Registration Rights Agreement”), by and among the Seller, the Company and the other parties named therein, and in connection with the sale (the “Sale”) of an aggregate of 7,000,000 This Notice will be executed and delivered at the Initial Closing. At the Second Closing, a similar Notice will be executed and delivered, with “7,000,000” replaced with “5,000,000.” shares of common stock, par value $.0001 per share (the “Shares”), of the Company by the Seller to ASP BB Holdings LLC (the “Purchaser”), pursuant to a Purchase and Sale Agreement (as the same may hereafter be amended, modified or amended and restated), dated as of May ___, 2016, by and among the Seller, the Company and the Purchaser, and the transfer of the Seller’s rights under the Registration Rights Agreement to the Purchaser in connection with such Sale.
The address of the Purchaser is:  c/o American Securities LLC, 299 Park Avenue, 34th Floor, New York, New York 10171.
All of the Seller’s rights under the Registration Rights Agreement with respect to the Shares are being transferred to the Purchaser in connection with the Sale, which Sale is being consummated today.
IN WITNESS WHEREOF, this Notice is executed as of the date first set forth above.
	
	
	THE TRAXIS GROUP B.V.

	By: 

	Name: 

	Title: 

	
	
	RECEIPT ACKNOWLEDGED:

	BLUE BIRD CORPORATION

	By: 

	Name: 

	Title: 

Exhibit B
Form of Registration Rights Agreement Joinder

JOINDER TO REGISTRATION RIGHTS AGREEMENT

This Joinder (the “Joinder”) to Registration Rights Agreement (as defined below) is entered into as of _______, 2016, in accordance with Section 3.01(b)(ii) of that certain Registration Rights Agreement, dated as of February 24, 2015 (as the same may hereafter be amended, modified or amended and restated, the “Registration Rights Agreement”), by and among The Traxis Group B.V., a limited liability company existing under the laws of the Netherlands (the “Seller”), Blue Bird Corporation (formerly known as Hennessy Capital Acquisition Corp.), a Delaware corporation (the “Company”), and the other parties named therein, and in connection with the sale (the “Sale”) of an aggregate of 7,000,000 This Joinder will be executed and delivered at the Initial Closing. At the Second Closing, a similar Joinder will be executed and delivered, with “7,000,000” replaced with “5,000,000.”
 shares of common stock, par value $.0001 per share (the “Shares”), of the Company by the Seller to the undersigned, pursuant to a Purchase and Sale Agreement (as the same may hereafter be amended, modified or amended and restated), dated as of May __, 2016, by and among the Seller, the Company and the undersigned, and the transfer of the Seller’s rights under the Registration Rights Agreement to the undersigned in connection with such Sale.  By execution and delivery of this Joinder and the acceptance thereof by the Company, the undersigned hereby agrees and acknowledges that the undersigned is a “Holder”, a “Transferee” and a “Demanding Party” as such terms are defined in the Registration Rights Agreement, with respect to the Shares subject to the Sale, and hereby agrees to be bound by the terms of, subject to the obligations of, and entitled to the benefits of, the Registration Rights Agreement as a “Holder”, a “Transferee” and a “Demanding Party” thereunder, and authorizes this Joinder to be attached to the Registration Rights Agreement.
IN WITNESS WHEREOF, this Joinder is executed, in counterpart, as of the date first set forth above. 

	
	
	ASP BB HOLDINGS LLC

	By: 

	Name: 

	Title: 

	
	
	ACCEPTED & ACKNOWLEDGED

	BLUE BIRD CORPORATION

	By: 

	Name: 

	Title: 

 This Joinder will be executed and delivered at the Initial Closing. At the Second Closing, a similar Joinder will be executed and delivered, with “7,000,000” replaced with “5,000,000.”

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