Document:

EX-10.1

 Exhibit 10.1 
  

 
 November 2, 2017 

Luke A. Pomilio 
 Address on file with the Company 

 

	 	Re:	Chief Financial Officer Transition 

 Dear Luke: 

This letter confirms our recent discussions regarding your continued employment as Chief Financial Officer of CONMED Corporation (the
“Company”) and your planned retirement. On behalf of the Board of Directors of the Company (the “Board”), I want to thank you for your years of leadership and your willingness to provide continued service as Chief
Financial Officer and then in the role of Special Advisor. 
  

	 	•	 	Continued Service as Chief Financial Officer and Special Advisor: Your service as Executive Vice President – Finance and Chief Financial Officer (“CFO”) of the Company will continue until
the date your successor to the position of CFO of the Company commences employment with the Company. After a successor commences employment, you will serve as a Special Advisor to the new CFO. 

 

	 	•	 	Compensation November 2, 2017 through March 15, 2018: During the period from November 1, 2017 through March 15, 2018, you will continue to receive your current salary and remain eligible to
participate in the Company employee benefit plans and programs in which you currently participate. The execution of this letter will not affect your eligibility under the existing annual cash bonus plan for 2017, which will be paid when 2017 bonuses
are generally paid to senior executives of the Company (but not later than March 15, 2018). For 2018, you will be eligible to receive an annual cash bonus based on a target amount equal to 65% of your existing annual salary based on your
success in facilitating a smooth transition of the CFO position as determined within the discretion of the Compensation Committee based on the recommendation of the Chief Executive Officer. Any earned 2018 bonus will be pro-rated through March 15, 2018 and paid when 2018 bonuses are generally paid to senior executives of the Company (but not later than March 15, 2019). 

 

	 	•	 	Compensation March 16, 2018 through March 15, 2019: During the period from March 16, 2018 through March 15, 2019, you will be paid an annualized base salary equal to the sum of (1) $589,050
plus (2) one-point-five (1.5) multiplied by the average bonus amount you received in respect of your 2016 annual cash bonus and will receive for your 2017 annual cash bonus, paid on a
monthly basis. You will remain eligible to participate in and receive benefits from the Company’s healthcare, dental and vision benefit plans and will be permitted to make contributions in the Company’s Benefits Restoration Plan and the
Company’s Retirement Savings Plan (in both cases, without any Company match), and you will not be eligible to participate in or receive benefits under any other Company retirement, welfare or benefit plans. Without limiting the foregoing, the
Company will not make matching or discretionary contributions to your accounts in either the Company’s Benefits Restoration Plan or the Company’s Retirement Savings Plan during this period. Your benefits under the Company Retirement
Pension Plan will become payable in accordance with the plan terms. 

 

 
  
  
  

	 	•	 	Releases. In connection with the execution of this Letter Agreement, you agree to execute the release attached hereto as Annex A within 30 days after the date of this letter agreement. You also agree to
execute a supplemental release and general waiver in a form acceptable to the Company (a “Release”) within 30 days after the Retirement Date but in no event earlier than the Retirement Date. 

 

	 	•	 	Retirement Date: Your service as an employee will end on March 15, 2019 (the “Retirement Date”). Following the Retirement Date, your employment with the Company will cease, although you will
continue to make yourself available, as needed and upon request, for consultation through June 15, 2019. 

  

	 	•	 	Duties as Special Advisor. Your duties as Special Advisor will include supporting and providing guidance to the new Chief Financial Officer and his or her department and such other reasonable duties as may be
assigned to you by the Chief Executive Officer. During this period, you will devote the appropriate business time and attention required to fulfill your service as Special Advisor which shall be no less than 50% of the average level of services you
have provided to the Company in your capacity as Executive Vice President – Finance and CFO. 

  

	 	•	 	Equity Awards: Subject to your continued service as Special Advisor and compliance with the release requirements set forth above, your equity awards shall continue to vest through 2019 and remain subject to the
terms of the applicable award agreements and the Company’s Amended and Restated 2015 Long-Term Incentive Plan (the “LTIP”). You acknowledge and agree that any equity awards with vesting dates scheduled to occur after 2019 will
be forfeited. 

  

	 	•	 	Severance Entitlements: You waive any claim to receive payments or other benefits under the Company Executive Management Severance Plan or the CONMED Severance Plan. You further agree that your transition to the
position of Special Advisor, the compensation and benefits changes that will occur on March 16, 2018 and any termination of employment thereafter will not entitle you to any benefits under the Company Executive Management Severance Plan or the
CONMED Severance Plan. 

 Upon a termination of your employment as a result of your death or disability or by the Company for
any reason, the Company will, subject to your (or your estate or beneficiary’s) execution and non-revocation of a supplemental Release within 30 days following the termination date, pay you the unpaid
annual base salary you would have received between March 16, 2018 and March 15, 2019 (to the extent that any portion of such annual base salary has not been paid). This amount will be paid to you in a single lump sum within 30 days of such
Release becoming effective, subject to the provisions of “Section 409A” set forth below. 
  

	 	•	 	COBRA Eligibility: Following the Retirement Date (or your earlier termination of employment with the Company), you will be entitled to continued health insurance coverage under the Consolidated Omnibus Budget
Reconciliation Act of 1985 (“COBRA”), if applicable, for a period in accordance with the requirements under COBRA. You will be solely responsible for paying the full cost of the premiums for such COBRA coverage, and such coverage
shall not be provided if during such period you are or become ineligible under the provisions of COBRA for continuing coverage. 

 

 
  
  
  

	 	•	 	Restrictive Covenants: In connection with your transition, you agree be bound by the covenants and provisions in Annex B, which apply during your employment with the Company and after your employment with
the Company terminates for any reason. You acknowledge the potential restrictions on your future employment imposed by such covenants and provisions are reasonable in both duration and geographic scope and in all other respects. 

 

	 	•	 	Withholding Taxes: The Company shall withhold from all payments due to you (or your beneficiary or estate) hereunder all taxes which, by applicable federal, state, local or other law, the Company is required to
withhold therefrom. 

  

	 	•	 	Governing Law and Dispute Resolution: Any dispute or controversy arising under or in connection with this letter agreement shall be settled exclusively by arbitration in New York by three arbitrators in
accordance with the commercial arbitration rules of the American Arbitration Association (“AAA”) then in effect, with all terms of this Agreement to be governed exclusively by New York law, without regard to its conflicts of law
principles. One arbitrator shall be selected by the Company, the other by you and the third jointly by these arbitrators (or if they are unable to agree within thirty (30) days of the commencement of arbitration, the third arbitrator will be
appointed by the AAA). Judgment may be entered on the arbitrators’ award in any court having jurisdiction. 

  

	 	•	 	Section 409A: The payments under this letter are not intended to constitute “deferred compensation” subject to Section 409A of the Internal Revenue Code (“Section 409A”).
The parties agree to interpret and administer this letter in a manner intended to comply with Section 409A as applicable. If and to the extent that any payment under this letter is determined by the Company to constitute “non-qualified deferred compensation” subject to Section 409A (because a payment is not a “short-term deferral” and not an involuntary severance payment under Treas. Reg. §1.409A-1(b)(9)(iii)) and that is payable to you by reason of your termination of employment, then (1) such payment or benefit shall be made or provided to you only upon a “separation from
service” as defined for purposes of Section 409A under applicable regulations and (2) if you are a “specified employee” (within the meaning of Section 409A and as determined by the Company), such payment will not be
made or provided before the date that is six months after the date of your separation from service (or your earlier death or a change in ownership or effective control within the meaning of Section 409A). To the extent applicable, each payment
under this letter shall be treated as a separate payment for purposes of Section 409A. 

 * * * 

Thank you again for your service. 

 

 
  
  
  

 

	
	CONMED Corporation
	
	/s/ Heather L. Cohen
	  

	 By:     Heather L. Cohen

Title:  EVP – Human Resources

  
  

ACCEPTED AND AGREED: 
 /s/ Luke A.
Pomilio                         

Luke A. Pomilio 

 

 
  
  

ANNEX A 
 This
Agreement (the “Agreement”) is entered into by and between CONMED Corporation (the “Company”) and Luke A. Pomilio (“Employee” or “You”) in full and complete settlement of all issues concerning
Employee’s employment through the Effective Date (as defined herein). As used in this Agreement, the term “Company” shall include CONMED Corporation, its affiliates, subsidiaries (including Linvatec Corporation), successors and
assigns, all of its current and former officers, directors, employees, and agents (in their individual and representative capacities). 

WHEREAS, Employee acknowledges that he is knowingly and voluntarily entering into this Agreement and that by signing this Agreement he is
receiving payment and/or other consideration from the Company to which he was not or would not otherwise be entitled. 
 NOW, THEREFORE, in
consideration of the above premises and of the mutual agreement and undertakings hereinafter set forth in the November 1, 2017 Letter Agreement, the Company and Employee further agree as follows: 

1.    Last Day of Employment. [Intentionally Omitted.] 

2.    Company Property. [Intentionally Omitted.] 

3.    Letter Agreement Benefits. In consideration for Employee’s execution of the
November 1, 2017 Letter Agreement and the general releases contained herein, and without any other obligation to do so, the Company will provide Employee with the payments contemplated by the November 1, 2017 Letter Agreement, less
applicable federal, state, local, and other legally required payroll deductions in accordance with the Company’s standard payroll practices (the “Letter Agreement Benefits”). Employee understands, acknowledges and agrees that if he
did not execute this Agreement, he would receive less and different benefits. 
 4.    General
Release of Claims. In consideration for the Letter Agreement Benefits, Employee, on behalf of himself, his descendants, dependents, heirs, executors, administrators, assigns, and successors, Employee voluntarily, knowingly and
willingly waives and releases, and promises never to assert, any and all claims that Employee has or might have against the Company, and/or its predecessors, successors, past, current and future parents, subsidiaries, related entities, officers,
directors, shareholders, agents, partners, employees, successors or assigns, relating to any aspect of Employee’s employment, employment compensation, resignation or termination of employment, including any and all rights or claims of unlawful
retaliation, discrimination or harassment on the basis of age, race, sex, marital status, disability, national origin, religion, or any other basis under federal, state, or local law. Those claims being released and discharged include, but are not
limited to: 
  

	 	a.	claims arising under any other federal, state or local fair employment statute, code or ordinance, contract law; 

 

 
  
  
  

	 	b.	torts of all kinds including, but not limited to, negligence claims and fraudulent inducement to enter into this contract, misrepresentation, negligent or otherwise, fraud, defamation, slander, libel, duress, fraudulent
inducement, workers’ compensation retaliation, interference with an advantageous business relationship, negligent employment, including negligent hiring, negligent retention and negligent supervision; claims of breach of contract, whether
actual or implied, written or oral; promissory estoppel, quantum merit or the like, and any and all claims for attorneys’ fees, any federal, state and local statutory or common law; 

 

	 	c.	claims for personal, bodily or emotional injury and monetary loss, without limitation, relating to any workers’ compensations laws, tort, contract (express or implied), or any other common law theory; all claims
for retaliation or discrimination of any type; and all claims for employment-related benefits of any type and any and all rights or claims to attorneys’ fees; 

 

	 	d.	claims of any violation of any pension or welfare plans or any other benefit plan or arrangement, including, without limitation, any claims under the Employee Retirement Income Security Act of 1974 (“ERISA”)
[29 U.S.C. Sections 1001-1461], as amended, including claims for breach of fiduciary duty under ERISA; 

  

	 	e.	claims under the Fair Housing Act [42 U.S.C. Section 3604 et. seq.], as amended; Title IX of the Education Amendments of 1972 [20 U.S.C. Sections 1681 et. seq.], as amended; the Federal False Claims
Act [18 U.S.C. Sections 287, et seq.], as amended (“FFCA”); the Program Fraud Civil Remedies Act [38 C.F.R. 42.1, et seq.], as amended (“PFCRA”); the Fair Credit Reporting Act, as amended
(“FCRA”); the Uniformed Services Employment and Reemployment Rights Act of 1994 [38 U.S.C. Sections 4301-4333], as amended (“USERRA”); the National Labor Relations Act [29 U.S.C. Sections
151-169], as amended (“NLRA”); the Worker Adjustment and Retraining Notification Act [29 U.S.C. Sections 2101 et seq.], as amended (“WARN”); the Occupational Safety and Health Act
[29 U.S.C. Sections 651-678], as amended (“OSHA”); the Fair Labor Standards Act [29 U.S.C. Sections 201-219], as amended (“FLSA”);

  

	 	f.	 claims or rights under state and federal whistleblower legislation including the Consolidated Omnibus Budget
Reconciliation Act of 1985 [Pub. L. 99-509], as amended (“COBRA”); the Sarbanes-Oxley Act of 2002 15 U.S.C. § 7201, et seq.;
(“S-OA”); the Health Insurance Portability and Accountability Act of 1996, as amended (“HIPAA”); the Family and Medical Leave Act [29 U.S.C. Sections 2601-2654], as amended
(“FMLA”); the Congressional Accountability Act of 1995 [2 U.S.C. Sections 1311-1317], as amended; the Age Discrimination 

 

 
  
  

	 	in Employment Act [29 U.S.C. § 621 et seq.] (“ADEA”), as amended; the Americans with Disabilities Act [42 U.S.C. Sections 12101-12213], as amended (“ADA”); the ADA Amendments
Act of 2008 (“ADAAA”); the Rehabilitation Act of 1973 [29 U.S.C. Section 791, et. seq.], as amended; the Employee Polygraph Protection Act of 1988 [29 U.S.C. Sections 2001, et. seq.], as amended
(“PPA”); the Internal Revenue Code [Title 26, U.S.C.], as amended (“IRC”); the Equal Pay Act [29 U.S.C. Section 206(d)], as amended (“EPA”); the Lilly Ledbetter Fair Pay Act of 2009; Title VII of the Civil Rights
Act of 1964 [42 U.S.C. Sections 2000e-2000e-17], as amended (“CRA”); the Civil Rights Act of 1991; Elliott-Larsen Civil Rights Act, as amended; the Revised Statutes [42 U.S.C. Sections 1981, 1983 or
1985], as amended; 

  

	 	g.	claims under the Florida Civil Human Rights Act [Fla. Stat. Ann. Sections 760.01 et seq.], as amended; The AIDS Act [Fla. Stat. Ann. Sections 760.50 et seq.]; Florida Wage Discrimination Law [Fla. Stat. Ann.
Section 725.07], as amended; Florida False Claims Act [Fla. Stat. Ann. Sections 68.081 et seq.]; the Florida Minimum Wage Act; Whistleblower’s Act [Fla. Stat. Ann. Sections 112.3187 et seq.]; Wage Payment Laws
[Fla. Stat. Ann. Sections 448.109 to 448.110]; worker’s compensation retaliation; 

  

	 	h.	claims under the New York Labor Law, New York State Human Rights Law [N.Y. Exec. Law §§ 296, et. seq.]; New York City Commission on Human Rights Law [NYC Code §
8-101]; New York Equal Pay Law [N.Y. Lab. Law § 194]; New York Equal Rights Law [N.Y. Civ. Rights Law § 40]; New York Off-duty Conduct Lawful Activities
Discrimination Law [N.Y. Lab. Law. § 201-d]; New York Minimum Wage Act [N.Y. Lab. Law §§ 650 to 665]; New York Wage and Hour Law [N.Y. Lab. Law §§ 190, et seq.]; New York
Whistleblower Statute [N.Y. Lab. Law § 740]; New York Workers’ Adjustment and Retraining Notification Acts, as amended (the New York “Warn” Laws) [N.Y. Lab. Art. 25-A, §§ 860A to
860I]; 

  

	 	i.	claims for severance payments or other benefits pursuant to the CONMED Executive Management Severance Plan and the CONMED Severance Plan; 

 

	 	j.	Employee specifically acknowledges and agrees that he is waiving on behalf of himself and his attorneys’ all claims for fees and expenses and court costs. Employee is also waiving his right to recover in his own
lawsuit, as well as the right to recover in a suit brought by any other entity or person on Employee’s behalf. Employee is not waiving any rights or claims which may arise after the date Employee signs this agreement. 

 

 
  
  

	 	k.	Exclusions. Excluded from the general releases above (“General Release”) are any claims or rights which cannot be waived by law. This Agreement does not prohibit you from challenging the validity of
this Agreement’s waiver and release of claims under the ADEA. Also excluded from the General Release is your right to file a charge with an administrative agency or participate in any agency investigation. You are, however, waiving your right
to recover money in connection with such a charge or investigation. You are also waiving your right to recover money in connection with a charge filed by any other individual or by the Equal Employment Opportunity Commission or any other federal
state or local agency provided that you do not waive, and this letter shall not be read as requiring you to waive, any right you may have to receive an award for information provided to any governmental entity. 

5.    COBRA. [Not applicable at this time] 

6.    Breach of Agreement by Employee. In the event that Employee breaches any of his obligations
under this Agreement or as otherwise imposed by law, the Company will be entitled to recover all of the benefits paid under the Letter Agreement and to obtain all other relief provided in law or equity. 

7.    Savings Clause. The provisions of this Agreement are severable, and if any part of it is found
to be unenforceable, the other provisions nonetheless shall remain fully valid and enforceable. 

8.    Entire Agreement. This Agreement sets forth the entire agreement between Employee and the
Company, other than the employment agreement signed by Employee at the time of hire, the Letter Agreement, and any supplemental release required thereunder and fully supersedes any and all prior agreements or understandings between the parties
hereto pertaining to the subject matter of this Agreement other than the Letter Agreement. By countersigning this Agreement Employee acknowledges that in doing so he have not relied upon any representation or statement not set forth in this
Agreement made by myself or any other representative of the Company, with regard to the subject matter, basis or effect of this Agreement or otherwise, other than in the Letter Agreement. 

9.    Choice of Law. This Agreement shall be governed by and construed in accordance with the laws of
the State of New York without application of choice of law principles, except to the extent federal law controls. Subject to the Arbitration provisions of Paragraph 10 below, any proceeding between the parties relating to this Agreement shall be
held in a court of competent jurisdiction in the State of New York, and all parties agree to be subject to the personal jurisdiction of the courts in and for that state. 

 

 
  
  

10.    Arbitration. Any dispute or claim that arises out of or that relates to this Agreement, or to
the existence, scope, or validity of this Agreement or the Letter Agreement, or that relates to the breach of this Agreement or the Letter Agreement, or that arises out of or that is based upon the employment relationship (including any wage claim,
any claim for wrongful termination, or any claim based upon any statute, regulation, or law, including those dealing with employment discrimination, sexual harassment, or civil rights, age, or disabilities), including tort claims (except a tort that
is a “compensable injury” under Workers’ Compensation Law), or a dispute between you and the Company that arose/arises before, during, or after employment, shall be resolved exclusively by arbitration in New York by three arbitrators
in accordance with the commercial arbitration rules of the American Arbitration Association (“AAA”) then in effect. One arbitrator shall be selected by the Company, the other by you and the third jointly by these arbitrators (or if they
are unable to agree within thirty (30) days of the commencement of arbitration, the third arbitrator will be appointed by the AAA). Judgment may be entered on the arbitrators’ award in any court having jurisdiction. 

11.    Age Discrimination Release Notification. You acknowledge that as part of this Agreement You are releasing
and waiving all charges, claims, and complaints under the Age Discrimination in Employment Act (“ADEA”) and you are agreeing not to sue the Released Parties in connection with any of Your rights under the ADEA. In order for you to waive
Your ADEA rights through this Agreement, pursuant to the requirements of 29 U.S.C. §626, You acknowledge and agree that: 
  

	 	a.	You knowingly and voluntarily execute this Agreement and release, waive, and agree not to sue Released Parties; and 

  

	 	b.	the release, waiver and agreement not to sue includes settlement of any allegation of age discrimination arising under the ADEA; and 

 

	 	c.	the release, waiver, and agreement not to sue includes all claims under the ADEA arising up to and including the date of execution of this release, but not claims occurring thereafter; and 

 

	 	d.	You have been advised to consult with an attorney concerning Your rights and obligations under the release, waiver, and agreement not to sue and before signing this Agreement; and 

 

	 	e.	this Agreement is written in a manner that You can understand, and You have fully considered the terms and conditions of this Agreement; and 

 

	 	f.	You are not releasing or waiving any rights that You are prohibited by law, rule, or regulation from releasing or waiving; and 

 

	 	g.	You have been given a reasonable period of time following your receipt of this Agreement to consider this Agreement before executing it, and that you may accept and sign this Agreement before expiration of the twenty-one (21) day time period following your receipt of this Agreement, but you are not required to do so by the Company; and 

 

 
  
  
  

	 	h.	You understand that after signing this Agreement, you may revoke your acceptance within seven (7) days by providing written notice of revocation to the EVP of HR at 525 French Road, Utica, New York 13502. This
Agreement will become effective on the eighth (8th) day following your signature (the “Effective Date”). 

 TO THE EMPLOYEE:
THIS IS AN IMPORTANT DOCUMENT. WHEN YOU SIGN THIS AGREEMENT, YOU ARE WAIVING CERTAIN RIGHTS THAT YOU HAVE UNDER STATE AND FEDERAL EMPLOYMENT LAWS. YOU MAY DESIRE TO CONSULT WITH A LAWYER BEFORE SIGNING THIS DOCUMENT. 

IN WITNESS WHEREOF, the parties have executed this Agreement. 
  

 

	
	CONMED Corporation
	
	/s/ Heather L. Cohen
	  

	 By:     Heather L. Cohen

Title:  Executive Vice President – Human Resources

  
  
  

	
	ACCEPTED AND AGREED:
	
	/s/ Luke A. Pomilio
	Luke A. Pomilio

  

 

 
  
  

Annex B 
 To
protect the confidential information and other trade secrets of the Company, you agree that: 
  

	 	•	 	Covenant not to Solicit. During your employment with the Company and for a period of 12 months thereafter, you will not: (i) Solicit any Client to transact business with a Competitive Enterprise or to
reduce or refrain from doing any business with the Company, (ii) interfere with or damage any relationship between the Company and a Client or (iii) Solicit anyone who is then an employee of the Company to resign from the Company or to
apply for or accept employment with any other business or enterprise except pursuant to a general solicitation of employment which is not directed specifically to any such employees. 

 

	 	•	 	Covenant not to Compete. During your employment with the Company and for a period of 12 months thereafter, you will not, directly or indirectly, alone or jointly, with any person or entity, participate in,
engage in, consult with, advise, be employed by, own (wholly or partially), possess an interest in, or in any other manner be involved with, any Competitive Enterprise. Notwithstanding the foregoing, you will not be prohibited from passively owning
less than 1% of the securities of any publicly-traded corporation. You agree that the covenants contained in this bullet are reasonable and desirable to protect the Confidential Information of the Company and its affiliates. 

 

	 	•	 	Covenant not to Disparage: During your employment with the Company and thereafter, you will not make any statement that would libel, slander or disparage the Company, any of its subsidiaries or their respective
past or present officers, directors, employees or agents. Nothing herein shall prevent you from responding accurately and fully to any question, inquiry or request for information when required by legal process; provided, however, that you will
provide the Company with reasonable prior written notice before responding to such a question, inquiry or request, unless such notice to the Company is prohibited under applicable law. Notwithstanding anything to the contrary in this letter or
otherwise, nothing shall limit your rights under applicable law to provide truthful information to any governmental entity or to file a charge with or participate in an investigation conducted by any governmental entity. Notwithstanding the
foregoing, you agree to waive your right to recover monetary damages in connection with any charge, complaint or lawsuit filed by you or anyone else on your behalf (whether involving a governmental entity or not); provided that you do not waive, and
this letter shall not be read as requiring you to waive, any right you may have to receive an award for information provided to any governmental entity. 

  

	 	•	 	 Confidentiality: During your employment and thereafter, you will hold in a fiduciary capacity for the
benefit of the Company all trade secrets and confidential information, knowledge or data relating to the Company and its businesses and investments, which will have been obtained by you during your employment by the Company and which is not
generally available public knowledge. Except as may be required or appropriate in connection with your carrying out your duties you will not, without the prior written consent of the Company or as may otherwise be

 

 
  
  

	 	required by law or any legal process, any statutory obligation or order of any court or statutory tribunal of competent jurisdiction, or as is necessary in connection with any adversarial proceeding against the Company (in which
case you will use your reasonable best efforts in cooperating with the Company in obtaining a protective order against disclosure by a court of competent jurisdiction), communicate or divulge any such trade secrets, information, knowledge or data to
anyone other than the Company and those designated by the Company or on behalf of the Company in the furtherance of its business or to perform duties hereunder. You are hereby notified that the immunity provisions in Section 1833 of title 18 of
the United States Code provide that an individual cannot be held criminally or civilly liable under any federal or state trade secret law for any disclosure of a trade secret that is made (1) in confidence to federal, state or local government
officials, either directly or indirectly, or to an attorney, and is solely for the purpose of reporting or investigating a suspected violation of the law, (2) under seal in a complaint or other document filed in a lawsuit or other proceeding,
or (3) to your attorney in connection with a lawsuit for retaliation for reporting a suspected violation of law (and the trade secret may be used in the court proceedings for such lawsuit) as long as any document containing the trade secret is
filed under seal and the trade secret is not disclosed except pursuant to court order. 

 The following terms used in this Annex
B have the meanings indicated below: 
  

	 	•	 	“Client” means any client or prospective client of the Company to whom you provided services, or for whom you transacted business, or whose identity became known to you in connection with your
relationship with or employment by the Company. 

  

	 	•	 	“Competitive Enterprise” means (i) any business competing with the businesses of the Company or any of its subsidiaries, or (ii) any business in which the Company or any of its subsidiaries
has entertained discussions or has requested and received information relating to the acquisition of such business by the Company or any of its subsidiaries during the six-month period immediately preceding
the date of your termination of employment. 

  

	 	•	 	“Solicit” means any direct or indirect communication of any kind, regardless of who initiates it, that in any way invites, advises, encourages or requests any person to take or refrain from taking any
action. 

 It is the intent and desire of the parties that the restrictive provisions of this Annex B be enforced to the fullest
extent permissible under the laws and public policies as applied in each jurisdiction in which enforcement is sought. If any particular provision of this Annex B is determined to be invalid or unenforceable, such covenant shall be
amended, without any action on the part of either party, to delete the portion determined to be invalid or unenforceable (such deletion to apply only with respect to the operation of such covenant in the particular jurisdiction in which such
adjudication is made). Your obligations under this Annex B shall survive the termination of your employment with the Company.dfin-ex102_589.htm

 

Exhibit 10.2

 

EXECUTION VERSION

 

 

 

AMENDMENT NO. 1 TO CREDIT AGREEMENT

AMENDMENT NO. 1 TO CREDIT AGREEMENT (this “Amendment No. 1”), dated as of October 2, 2017, by and among Donnelley Financial Solutions, Inc. (the “Borrower”), the other Loan Parties, the 2017 Refinancing Term Lenders (as defined below) party hereto and JPMORGAN CHASE BANK, N.A. (“JPM”), as administrative agent (in such capacity, including any permitted successor thereto, the “Administrative Agent”).  All capitalized terms used herein (including in this preamble) and not otherwise defined herein shall have the respective meanings provided such terms in the Credit Agreement referred to below. 

PRELIMINARY STATEMENTS

WHEREAS, the Borrower has entered into that certain Credit Agreement, dated as of September 30, 2016, among the Borrower, the other parties thereto, the lenders party thereto from time to time (collectively, the “Lenders” and each individually, a “Lender”), JPM, as Administrative Agent, collateral agent, Swing Line Lender and as an Issuing Bank (as amended, restated, amended and restated, supplemented or otherwise modified from time to time prior to, but not including, the date hereof, the “Credit Agreement”) and, in connection with this Amendment No. 1, the Lead Arrangers (as defined therein) are acting as joint lead arrangers and joint bookrunners (in such capacities, the “Arrangers”) in connection with the provision of the 2017 Refinancing Term Loans (as defined below);

WHEREAS, the Borrower has requested that the Credit Agreement be amended as set forth herein (the Credit Agreement, as amended by this Amendment No. 1, the “Amended Credit Agreement”) so as to, among other things, provide for a new Class of Term Loans (the “2017 Refinancing Term Loans”), which 2017 Refinancing Term Loans would refinance all of the Term Loans made on the Closing Date that are outstanding under the Credit Agreement immediately prior to the effectiveness of this Amendment No. 1 (the “Existing Term Loans” and each Lender with an Existing Term Loan, an “Existing Term Lender”) and shall have the terms set forth in the Amended Credit Agreement;

WHEREAS, pursuant to the Engagement Letter, dated September 13, 2017, by and among the Arrangers and the Borrower (the “Engagement Letter”), the Arrangers have agreed to act as joint lead arrangers and joint bookrunners  in connection with the provision of the 2017 Refinancing Term Loans; 

WHEREAS, each Existing Term Lender that executes and delivers a consent and executed signature page to this Amendment No. 1 in the form of the Exchanging Term Lender Consent attached to the Election Notice Memorandum posted on LendAmend on September 14, 2017 (a “Lender Consent”) (such consenting Lender, an “Exchanging Term Lender”) will be deemed (i) to have agreed to the terms of this Amendment No. 1 and the Amended Credit Agreement, (ii) to have agreed to continue (as further described in the Lender Consent) its Existing Term Loans as 2017 Refinancing Term Loans in an equal principal amount, and (iii) upon the Amendment No. 1 Effective Date to have continued (as further described in the Lender Consent) its Existing Term Loans as 2017 Refinancing Term Loans in an equal principal amount;

 

 

KE 49201287.2

SC1:4484216.6

 

WHEREAS, each Person that executes and delivers a signature page to this Amendment No. 1 in the capacity of an “Additional Refinancing Term Lender” (each, an “Additional Refinancing Term Lender” and together with the Exchanging Term Lenders, the “2017 Refinancing Term Lenders”) will be deemed (i) to have agreed to the terms of this Amendment No. 1 and the Amended Credit Agreement and (ii) to have committed to make 2017 Refinancing Term Loans to the Borrower on the Amendment No. 1 Effective Date, in the amount specified on Schedule 1 hereto (such loans, the “Additional Refinancing Term Loans”);

WHEREAS, the aggregate proceeds of the Additional Refinancing Term Loans will be used by the Borrower to repay in full the outstanding principal amount of the Existing Term Loans (other than the Exchanged Term Loans); 

WHEREAS, each Additional Refinancing Term Lender party hereto is prepared to provide 2017 Refinancing Term Loans in an amount equal to its commitment to provide such Loans as set forth on Schedule 1 hereto (the “2017 Refinancing Term Commitments”), subject to the terms and conditions set forth herein; and

WHEREAS, each Loan Party party hereto (collectively, the “Reaffirming Parties”, and each, a “Reaffirming Party”) expects to realize substantial direct and indirect benefits as a result of this Amendment No. 1 becoming effective and the consummation of the transactions contemplated hereby and agrees to reaffirm its obligations under the Credit Agreement, the Collateral Documents, and the other Loan Documents to which it is a party.

NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of which is acknowledged by each party hereto, it is agreed:

SECTION 1.CERTAIN DEFINITIONS. Capitalized terms used (including in the preamble and recitals hereto) but not defined herein shall have the meanings assigned to such terms in the Amended Credit Agreement. As used in this Amendment No. 1:

“2017 Refinancing Term Commitments” is defined in the seventh recital hereto.

“2017 Refinancing Term Lenders” is defined in the fifth recital hereto. 

“2017 Refinancing Term Loans” is defined in the second recital hereto.

“Additional Refinancing Term Lenders” is defined in the fifth recital hereto.

“Additional Refinancing Term Loans” is defined in the fifth recital hereto.

“Administrative Agent” is defined in the preamble hereto.

“Amended Credit Agreement” is defined in the second recital hereto.

“Amendment No. 1” is defined in the preamble hereto.

“Amendment No. 1 Effective Date” is defined in Section 6 hereof.

“Arrangers” is defined in the first recital hereto.

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“Borrower” is defined in the preamble hereto.

“Credit Agreement” is defined in the first recital hereto.

“Exchanged Term Loan” is defined in Section 2(a)(i) hereof.

“Exchanging Term Lenders” is defined in the fourth recital hereto.

“Existing Term Lender” is defined in the second recital hereto.

“Existing Term Loans” is defined in the second recital hereto.

“Lender Consent” is defined in the fourth recital hereto.

“Lenders” is defined in the first recital hereto.

“Non-Exchanging Term Lender” is defined in Section 2(a)(ii) hereof. 

“Reaffirming Parties” is defined in the eighth recital hereto. 

“Refinancing Arranger” shall mean JPMorgan Chase Bank, N.A.

SECTION 2.CONTINUATION OF EXISTING TERM LOANS; AGREEMENT TO MAKE 2017 REFINANCING TERM LOANS.  

	
 
	
(a)
	
Continuation and Repayment of Existing Term Loans. 

	
 
	
(i)
	
As of the Amendment No. 1 Effective Date, subject to the terms hereof, each Exchanging Term Lender agrees that the aggregate principal amount of its Existing Term Loans (the “Exchanged Term Loans”) will be continued as 2017 Refinancing Term Loans in an equal principal amount through a cashless rollover.  

	
 
	
(ii)
	
As of the Amendment No. 1 Effective Date, subject to the terms hereof, (1) the Borrower agrees that pursuant to Section 2.20 of the Credit Agreement all unpaid and accrued interest up to but not including the Amendment No. 1 Effective Date on the Existing Term Loans that are continued pursuant to Section 2(a)(i) will be repaid in full on the Amendment No. 1 Effective Date and (2) the Borrower agrees that pursuant to Section 2.20 of the Credit Agreement the aggregate principal amount of the Existing Term Loans, together with all unpaid and accrued interest thereon up to but not including the Amendment No. 1 Effective Date, of each Lender holding Existing Term Loans that are not continued pursuant to Section 2(a)(i) (each, a “Non-Exchanging Term Lender”), will be repaid in full on the Amendment No. 1 Effective Date.

	
 
	
(b)
	
Commitment to Make Additional Refinancing Term Loans.  As of the Amendment No. 1 Effective Date, subject to the terms hereof, each Additional Refinancing Term Lender agrees to make Additional Refinancing Term Loans equal to the amount set forth on Schedule I hereto. 

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(c)
	
Other Provisions Regarding 2017 Refinancing Term Loans.  

	
 
	
(i)
	
On the Amendment No. 1 Effective Date, the Borrower shall apply the aggregate proceeds of the Additional Refinancing Term Loans to prepay in full the principal amount of all Existing Term Loans (other than the Exchanged Term Loans). The commitments of the Exchanging Term Lenders and the Additional Refinancing Term Lenders are several and not joint and no 2017 Refinancing Term Lender will be responsible for any other 2017 Refinancing Term Lender’s failure to make or acquire the 2017 Refinancing Term Loans. 

	
 
	
(ii)
	
Each 2017 Refinancing Term Lender shall be a “Term Lender” and “Lender” under the Credit Agreement as of the Amendment No. 1 Effective Date. Amounts paid or prepaid in respect of 2017 Refinancing Term Loans may not be reborrowed.

SECTION 3.AMENDMENTS TO LOAN DOCUMENTS.  

	
 
	
(a)
	
Section 1.01 of the Credit Agreement is hereby amended to add the following definitions in their proper alphabetical order:

 “Amendment No. 1” shall mean the Amendment No. 1 to Credit Agreement, dated as of October 2, 2017, among the Borrower, the Administrative Agent and the Lenders party thereto.

“Amendment No. 1 Effective Date” shall have the meaning assigned to such term in Amendment No. 1.

“2017 Refinancing Term Loans” shall have the meaning assigned to such term in Amendment No. 1;

	
 
	
(b)
	
Section 1.01 of the Credit Agreement is hereby amended by amending and restating clause (b) of the definition of “Applicable Rate” contained therein to read as follows:

“(b) for each Term B Loan, 3.00% for Eurodollar Loans and 2.00% for ABR Loans and”; 

	
 
	
(c)
	
Section 1.01 of the Credit Agreement is hereby amended by replacing all references in the definition of “Eurodollar Rate” to “1.00%” with “0.75%”;

	
 
	
(d)
	
Section 2.07 of the Credit Agreement is hereby amended by amending and restating clause (c) thereof to read as follows:

“The Borrower shall repay principal of outstanding 2017 Refinancing Term Loans on the last Business Day of each March, June, September and December of each year (commencing on the applicable day of the first full fiscal quarter of the Borrower after the Amendment No. 1 Effective Date) and on the Term B Maturity Date, in an aggregate principal amount of such Term B Loans equal to (A) in the case of quarterly payments due prior to the Term B Maturity Date, an amount equal to 1.25% of the aggregate principal amount of such 2017 Refinancing Term Loans incurred on the Amendment No. 1 Effective Date and (B) in the case of such payment due on the Term B Maturity Date, an amount equal to the then unpaid principal amount of such Term B Loans outstanding.”.

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(e)
	
Section 2.08(a)(i) of the Credit Agreement is hereby amended by amending and restating the last two sentences thereof to read as follows:

“If any Repricing Event occurs prior to the date occurring 6 months after the Amendment No.1 Effective Date, the Borrower agrees to pay to the Administrative Agent, for the ratable account of each Lender with Term B Loans that are subject to such Repricing Event (including any Lender which is replaced pursuant to Section 2.16(c) as a result of its refusal to consent to an amendment giving rise to such Repricing Event), a fee in an amount equal to 1.00% of the aggregate principal amount of the Term B Loans subject to such Repricing Event. Such fees shall be earned, due and payable upon the date of the occurrence of such Repricing Event.”.

SECTION 4.REFERENCE TO AND EFFECT ON THE CREDIT AGREEMENT. On and after the Amendment No. 1 Effective Date, (i) each reference in the Credit Agreement to “this Agreement,” “hereunder,” “hereof” or text of like import referring to the Credit Agreement shall mean and be a reference to the Credit Agreement as amended by this Amendment No. 1, (ii) the 2017 Refinancing Term Commitments shall constitute “Term Commitments”, “Term B Commitments” and “Commitments”, in each case, under and as defined in the Credit Agreement, (iii) the 2017 Refinancing Term Loans shall constitute “Term Loans”, “Term B Loans” and “Loans”, in each case, under and as defined in the Credit Agreement and (iv) the 2017 Refinancing Term Lenders shall each constitute a “Term Lender”, “Term B Lender” and a “Lender”, in each case, under and as defined in the Credit Agreement.  This Amendment No. 1 shall for all purposes constitute a “Loan Document” under and as defined in the Credit Agreement and the other Loan Documents.

SECTION 5.REPRESENTATIONS & WARRANTIES. In order to induce the 2017 Refinancing Term Lenders and the Administrative Agent to enter into this Amendment No. 1 and to induce the 2017 Refinancing Term Lenders to make the 2017 Refinancing Term Loans hereunder, each Loan Party hereby represents and warrants to the 2017 Refinancing Term Lenders and the Administrative Agent on and as of the Amendment No. 1 Effective Date that each of the representations and warranties made by any Loan Party set forth in Article III of the Credit Agreement or in any other Loan Document shall be true and correct in all material respects (provided that, any representation and warranty that is qualified by “materiality,” “material adverse effect” or similar language shall be true and correct in all respects (after giving effect to any such qualification therein)) on and as of the Amendment No. 1 Effective Date with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date (in which case such representations and warranties shall be true and correct in all material respects (or if any such representation and warranty is qualified by “materiality,” “material adverse effect” or similar language, shall be true and correct in all respects (after giving effect to any such qualification therein)) on and as of such earlier date); provided that all references in the representations set forth in Sections 3.02, and 3.03 of the Credit Agreement to “Loan Documents” shall be deemed to be references to this Amendment No. 1 and the other Loan Documents (including the Credit Agreement) as amended by this Amendment No. 1. 

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SECTION 6.CONDITIONS PRECEDENT.  This Amendment No. 1 shall become effective as of the first date (the “Amendment No. 1 Effective Date”) when each of the conditions set forth in this Section 6 shall have been satisfied or waived: 

	
 
	
(a)
	
The Administrative Agent shall have received a duly authorized, executed and delivered counterpart of the signature page to this Amendment No. 1 from each Loan Party named on the signature pages hereto, the Administrative Agent and the 2017 Refinancing Term Lenders.

	
 
	
(b)
	
All costs, fees and expenses (including, without limitation, legal fees and expenses) contemplated and to the extent required by the Credit Agreement, the Engagement Letter and any other letter agreement between the Borrower and any Arranger relating to the transactions contemplated hereby, and which are payable to the Refinancing Arranger or any other Arranger (or any other 2017 Refinancing Term Lender) or the Administrative Agent shall have been paid to the extent due. All accrued interest on, and any amounts owing under the Credit Agreement with respect to, the Existing Term Loans, whether or not due and payable, shall have been, or shall substantially concurrently with the effectiveness of this Amendment No. 1 be, paid in full. 

	
 
	
(c)
	
No Default or Event of Default shall have occurred or be continuing or would occur immediately after giving effect to the incurrence of the 2017 Refinancing Term Loans.

	
 
	
(d)
	
Each of the representations and warranties made by any Loan Party set forth in Section 5 hereof shall be true and correct in all material respects (provided that, any representation and warranty that is qualified by “materiality,” “material adverse effect” or similar language shall be true and correct in all respects (after giving effect to any such qualification therein)) on and as of the Amendment No. 1 Effective Date with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date (in which case such representations and warranties shall be true and correct in all material respects (or if any such representation and warranty is qualified by “materiality,” “material adverse effect” or similar language, shall be true and correct in all respects (after giving effect to any such qualification therein)) on and as of such earlier date).

	
 
	
(e)
	
The Administrative Agent shall have received a Borrowing Notice meeting the requirements of Section 2.03 of the Credit Agreement for the 2017 Refinancing Term Loans.

	
 
	
(f)
	
The Administrative Agent shall have received a certificate of the Borrower, dated the Amendment No. 1 Effective Date, executed by a Responsible Officer of the Borrower certifying compliance with the requirements set forth in clauses (c) and (d) of this Section 6. 

	
 
	
(g)
	
On the Amendment No. 1 Effective Date, the Administrative Agent shall have received a favorable written opinion (addressed to the Administrative Agent and the 2017 Refinancing Term Lenders and dated the Amendment No. 1 Effective Date) of (i) Sullivan & Cromwell LLP, counsel to the Loan Parties and (ii) local counsel in each jurisdiction in which a Loan Party is organized and the laws of which are not covered by the opinion referred to in (i) above, in each case in form and substance reasonably satisfactory to the Administrative Agent.

	
 
	
(h)
	
The Administrative Agent shall have received a customary certificate from each Loan Party, dated the Amendment No. 1 Effective Date, signed by a Responsible Officer of such Loan Party, and attested to by the secretary or any assistant secretary of such Loan Party, with appropriate insertions, together with (a) certified copies of the certificate or articles of incorporation and by-laws (or other equivalent organizational documents), as applicable, of 

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such Loan Party, (b) customary resolutions of such Loan Party referred to in such certificate, (c) incumbency or specimen signatures which identify by name and title of such Responsible Officer or authorized signatory of such Loan Party authorized to sign this Amendment No. 1, and (d) a good standing certificate from the applicable Governmental Authority of such Loan Party’s jurisdiction of incorporation, organization or formation, each dated a recent date prior to the Amendment No. 1 Effective Date and certifying as to the good standing of such Loan Party; provided that in the case of preceding clause (a), such documents shall not be required to be delivered with respect to any Person that was a Loan Party immediately prior to the Amendment No. 1 Effective Date if such certificate includes a certification by such Responsible Officer that the applicable organizational documents delivered to the Administrative Agent in connection with the initial funding of Term Loans on the Closing Date remain in full force and effect and have not been amended, modified, revoked or rescinded since the Closing Date.

	
 
	
(i)
	
The Refinancing Arranger and the Administrative Agent shall have received at least three (3) Business Days prior to the Amendment No. 1 Effective Date all documentation and other information requested by the 2017 Refinancing Term Lenders that is required by regulatory authorities under applicable “know your customer” and anti-money-laundering rules and regulations, including without limitation, the Act, in each case as requested at least five (5) Business Days prior to the Amendment No. 1 Effective Date.

SECTION 7.ARRANGERS.  The Borrower and the 2017 Refinancing Term Lenders agree that the Arrangers shall be entitled to the privileges, indemnification, immunities and other benefits afforded to the Lead Arrangers pursuant to Sections 8.08 and 9.04 of the Amended Credit Agreement and except as otherwise agreed to in writing by the Borrower and the Arrangers, shall have no duties, responsibilities or liabilities with respect to this Amendment No. 1, the Amended Credit Agreement or any other Loan Document.

SECTION 8.REAFFIRMATION.  

	
 
	
(a)
	
To induce the 2017 Refinancing Term Lenders and the Administrative Agent to enter into this Amendment No. 1, each of the Loan Parties hereby acknowledges and reaffirms its obligations under each Loan Document to which it is a party, including, without limitation, any grant, pledge or collateral assignment of a lien or security interest, as applicable, contained therein, in each case as amended, restated, amended and restated, supplemented or otherwise modified prior to or as of the date hereof (including as amended pursuant to this Amendment No. 1 and the incurrence of the 2017 Refinancing Term Loans hereunder) (collectively, the “Reaffirmed Documents”).  Each Loan Party acknowledges and agrees that each of the Loan Documents to which it is a party or otherwise bound shall continue in full force and effect and that all of its obligations thereunder shall not be impaired or limited by the execution or effectiveness of this Amendment No. 1.

	
 
	
(b)
	
In furtherance of the foregoing Section 8(a), each Subsidiary Guarantor, in its capacity as a Guarantor under the Guarantee Agreement (in such capacity, each a “Reaffirming Loan Guarantor”), reaffirms its guarantee of the Obligations under the terms and conditions of the Guarantee Agreement and agrees that the Guarantee Agreement remains in full force and effect to the extent set forth in the Guarantee Agreement and after giving effect to this Amendment No. 1 and the incurrence of the 2017 Refinancing Term Loans, and is hereby ratified, reaffirmed and confirmed.  Each Reaffirming Loan Guarantor hereby confirms that it consents to the terms of this Amendment No. 1 and the Amended Credit Agreement and that the 

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principal of, the interest and premium (if any) on, and fees related to, the 2017 Refinancing Term Loans constitute “Obligations” under the Loan Documents.  Each Reaffirming Loan Guarantor hereby (i) acknowledges and agrees that its guarantee of the Obligations and each of the Loan Documents to which it is a party or otherwise bound shall continue in full force and effect and that all of its obligations thereunder shall not be impaired or limited by the execution or effectiveness of this Amendment No. 1, (ii) acknowledges and agrees that it will continue to guarantee to the fullest extent possible in accordance with the Loan Documents the payment and performance of all Obligations under each of the Loan Documents to which it is a party (including all such Obligations as amended, reaffirmed and/or increased pursuant to this Amendment No. 1 and the incurrence of the 2017 Refinancing Term Loans) and (iii) acknowledges, agrees and warrants for the benefit of the Administrative Agent, the Collateral Agent and each other Secured Party that there are no rights of set-off or counterclaim, nor any defenses of any kind, whether legal, equitable or otherwise, that would enable such Reaffirming Loan Guarantor to avoid or delay timely performance of its obligations under the Loan Documents.

	
 
	
(c)
	
In furtherance of the foregoing Section 8(a), each of the Loan Parties that is party to any Collateral Document, in its capacity as a “grantor”, “pledgor” or other similar capacity under such Collateral Document (in such capacity, each a “Reaffirming Grantor”), hereby acknowledges that it has reviewed and consents to the terms and conditions of this Amendment No. 1 and the transactions contemplated hereby, including the extension of credit in the form of the 2017 Refinancing Term Loans.  In addition, each Reaffirming Grantor reaffirms the security interests granted by such Reaffirming Grantor under the terms and conditions of the Collateral Documents (in each case, to the extent a party thereto) to secure the Obligations (including all such Obligations as amended, reaffirmed and/or increased pursuant to this Amendment No. 1 and the incurrence of the 2017 Refinancing Term Loans) and agrees that such security interests remain in full force and effect and are hereby ratified, reaffirmed and confirmed.  Each Loan Party hereby confirms that the security interests granted by such Reaffirming Grantor under the terms and conditions of the Loan Documents secure the 2017 Refinancing Term Loans as part of the Obligations.  Each Reaffirming Grantor hereby (i) confirms that each Collateral Document to which it is a party or is otherwise bound and all Collateral encumbered thereby will continue to secure, to the fullest extent possible in accordance with the Collateral Documents, the payment and performance of the Obligations (including all such Obligations as amended, reaffirmed and/or increased pursuant to this Amendment No. 1 and the incurrence of the 2017 Refinancing Term Loans), as the case may be, including without limitation the payment and performance of all such applicable Obligations that are joint and several obligations of each Guarantor and each Reaffirming Grantor now or hereafter existing, (ii) confirms its respective grant to the Collateral Agent for the benefit of the Secured Parties of the security interest in and continuing Lien on all of such Reaffirming Grantor’s right, title and interest in, to and under all Collateral, in each case whether now owned or existing or hereafter acquired or arising and wherever located, as collateral security for the prompt and complete payment and performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise, of all applicable Obligations (including all such Obligations as amended, reaffirmed and/or increased pursuant to this Amendment No. 1 and the incurrence of the 2017 Refinancing Term Loans), subject to the terms contained in the applicable Loan Documents, and (iii) confirms its respective pledges, grants of security interests and other obligations, as applicable, under and subject to the terms of each of the Collateral Documents to which it is a party. 

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(d)
	
Each Guarantor (other than the Borrower) acknowledges and agrees that (i) such Guarantor is not required by the terms of the Credit Agreement or any other Loan Document to consent to this Amendment No. 1 and (ii) nothing in the Credit Agreement, this Amendment No. 1 or any other Loan Document shall be deemed to require the consent of such Guarantor to any future amendment, consent or waiver of the terms of the Credit Agreement.

SECTION 9.MISCELLANEOUS PROVISIONS.  

	
 
	
(a)
	
Ratification.  This Amendment No. 1 is limited to the matters specified herein and shall not constitute acceptance or waiver, or, to the extent not expressly set forth herein, an amendment or modification, of any other provision of the Credit Agreement or any other Loan Document.  Nothing herein contained shall be construed as a substitution or novation of the obligations outstanding under the Credit Agreement or any other Loan Document or instruments securing the same, which shall remain in full force and effect as modified hereby or by instruments executed concurrently herewith, and each of the parties hereto acknowledges and agrees that the terms of this Amendment No. 1 constitute an amendment of the terms of pre-existing Indebtedness and the related agreement, as evidenced by the Amended Credit Agreement.

	
 
	
(b)
	
Governing Law; Submission to Jurisdiction, Consent to Service of Process, Waiver of Jury Trial, Etc. Sections 9.10 and 9.11 of the Credit Agreement are incorporated by reference herein as if such Sections appeared herein, mutatis mutandis.

	
 
	
(c)
	
Severability.  Section 9.08 of the Credit Agreement is incorporated by reference herein as if such Section appeared herein, mutatis mutandis.

	
 
	
(d)
	
Counterparts; Headings.  This Amendment No. 1 may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page of this Amendment No. 1 by telecopy or other electronic transmission (including in .pdf format) shall be effective as delivery of a manually executed counterpart of this Amendment No. 1. Article and Section headings used herein are for convenience of reference only, and are not part of this Amendment No. 1 and shall not affect the construction of, or be taken into consideration in interpreting, this Amendment No. 1. 

	
 
	
(e)
	
Notice. For purposes of the Credit Agreement, the initial notice address of each Additional Refinancing Term Lender shall be as set forth on Schedule 1 hereto.

	
 
	
(f)
	
Recordation of 2017 Refinancing Term Loans. Upon execution and delivery hereof, and the funding of the 2017 Refinancing Term Loans, the Administrative Agent will record in the Register the 2017 Refinancing Term Loans made by the 2017 Refinancing Term Lenders as “Term Loans”.

	
 
	
(g)
	
Amendment, Modification and Waiver. This Amendment No. 1 may not be amended nor may any provision hereof be waived except pursuant to a writing signed by each of the parties hereto.

[Remainder of page intentionally blank; signatures begin next page]

 

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 1 to be duly executed by their respective authorized officers as of the date first above written.

 

				
	
 
	
 
	
 
	
DONNELLEY FINANCIAL SERVICES, INC.,
as Borrower

	
 
	
 
	
 

	
 
	
 
	
By:
	
/s/ David A. Gardella                          

	
 
	
 
	
 
	
Name: David A. Gardella

	
 
	
 
	
 
	
Title: Chief Financial Officer

 

				
	
 
	
 
	
 
	
with respect to Section 8:
DONNELLEY FINANCIAL, LLC, as a Loan
Party, Reaffirming Loan Guarantor and 
Reaffirming Grantor

	
 
	
 
	
 

	
 
	
 
	
By:
	
/s/ David A. Gardella                         

	
 
	
 
	
 
	
Name: David A. Gardella

	
 
	
 
	
 
	
Title: Chief Financial Officer

 

				
	
 
	
 
	
 
	
with respect to Section 8: DFS
INTERNATIONAL HOLDINGS, INC., as a
Loan Party, Reaffirming Loan Guarantor and 
Reaffirming Grantor

	
 
	
 
	
 

	
 
	
 
	
By:
	
/s/ David A. Gardella                         

	
 
	
 
	
 
	
Name: David A. Gardella

	
 
	
 
	
 
	
Title: Chief Financial Officer

 

[DFS  – Signature Page to Amendment No. 1 to Credit Agreement

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JPMORGAN CHASE BANK, N.A., as an
Additional Refinancing Term Lender

	
 
	
 
	
 

	
 
	
 
	
By
	
/s/ Gene Riego de Dios                          

	
 
	
 
	
 
	
Name: Gene Riego de Dios

	
 
	
 
	
 
	
Title: Executive Director

 

[DFS  – Signature Page to Amendment No. 1 to Credit Agreement]

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JPMORGAN CHASE BANK, N.A., as
Administrative Agent

	
 
	
 
	
 

	
 
	
 
	
By
	
/s/ Gene Riego de Dios                          

	
 
	
 
	
 
	
Name: Gene Riego de Dios

	
 
	
 
	
 
	
Title: Executive Director

 

 

 

[DFS  – Signature Page to Amendment No. 1 to Credit Agreement]

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SCHEDULE 1

 

 

	
Additional Refinancing Term Lender
	
2017 Refinancing Term Commitment
	
Notice address

	
JPMorgan Chase Bank, N.A. 
	
$25,443,948.71
	
383 Madison Avenue

New York, NY 10179

	
TOTAL
	
$25,443,948.71
	
 

 

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