Document:

catm_Ex10_43

		

			Exhibit 10.43

		

		

			

		

		
			January 3, 2017
		

		
			Mr. P. Michael McCarthy
		

		
			3336 Bridgeberry Lane
		

		
			Houston, TX 77082
		

		
			Re:  Your Retirement
		

		
			Dear Mike,
		

		
			The parties agree that you will terminate your employment and retire, effective February 1, 2017. This letter agreement (the “Retirement Agreement”), together with the attached Exhibit A (“General Release”), reflects our mutual agreement regarding the terms of your retirement from Cardtronics USA, Inc. (the “Company”). In this Retirement Agreement, you and the Company are sometimes referred to individually as a “Party” and collectively as the “Parties.”  
		

		
			1.         Separation of Employment.  We have mutually agreed that your employment will terminate pursuant to the Employment Agreement between you and Cardtronics USA, Inc. dated May 13, 2013 (the “Employment Agreement”) under the following terms and conditions.  The Parties agree that, assuming you comply with this Retirement Agreement, your employment and all positions with the Company and any Affiliates (as that term is defined in the Employment Agreement) shall terminate on February 1, 2017 (“Retirement Date”); and you will resign, to the extent applicable, as officer or director of, and from any committee(s) of, the Company or any existing affiliate, effective on the Retirement Date.  You agree to reasonably cooperate with the Company to execute any appropriate paperwork to effectuate such resignations, if necessary. Pursuant to the Employment Agreement, you will receive the amounts set forth in Section 7.1(a) of the Employment Agreement: you will receive all accrued and unpaid Base Salary (as that term is defined in the Employment Agreement) through your last day of employment, less all required taxes and withholdings, reimbursement for all incurred but unreimbursed expenses for which you are entitled to reimbursement, and any accrued benefits to which you are entitled under the terms of any applicable benefit plan or program. 
		

		
			2.         Company Benefits and COBRA.  Your insurance benefits will cease on the last day of the month in which your employment terminates, subject to any rights to continue your group coverage to the extent provided by COBRA. Your participation in all other Company benefits and incidents of employment, including, but not limited to, the accrual of bonuses and vacation shall cease as of your last day of employment.  
		

		
			3.         Retirement Benefits.  Provided that you comply with the provisions of this Retirement Agreement and the Employment Agreement, and provided you sign the General Release (attached hereto as Exhibit A) within 21 days after the Retirement Date without revoking it, the Company will provide you with the following (“Retirement Benefits”): 
		

		
			(a)       Payout of the 2016 Annual Executive Cash Incentive Plan (“CIP”) based on actual 2016 results as approved by the Board of Directors (“Board”); payable with all regularly‐scheduled payouts, but no later than March 31, 2017, less any required taxes and withholdings;  
		

		
			(b)       Payment of a prorated portion (based upon the ratio of the number of days you were employed in 2017 to 365) of the CIP based on actual 2017 results as approved by the Board; payable with all regularly‐scheduled payouts, but no later than March 31, 2018, less any required taxes and withholdings; provided, however, that if the CIP is intended to constitute performance-based compensation within the meaning of, and for purposes of, Section 162(m) of the Internal Revenue Code of 1986, as amended (“Code”), then no bonus shall be paid except to the extent applicable performance criteria have been satisfied as certified by a committee of the Board as required under Section 162(m) of the Code; 
		

		
			(c)       Vesting of Restricted Stock Units (“RSUs”) occurring in January, 2017 per the equity award agreements and in accordance with the Long Term Incentive Plan established pursuant to the Cardtronics, Inc. Amended and Restated 2007 Stock Incentive Plan and the Cardtronics, Inc. Second Amended and Restated 2007 Stock Incentive Plan (“LTIP”)
		

		
			

		 

		

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			(d)       Notwithstanding Section 2 above, so long as you are eligible for and do elect and continue COBRA coverage, the Company will, on a monthly basis, reimburse you for the amounts you pay to effect and continue  such COBRA coverage for up to 18 months following the Retirement Date; and
		

		
			(e)       Payment of an amount equal to two times your Base Salary and Average Annual Bonus as of the Retirement Date, which amount shall be divided into and paid, consistent with the time and form of severance payments provided for in the Employment Agreement. For the avoidance of doubt, the base salary will be $396,000 times two plus the average of the actual CIP paid for 2011-2016 times two.  This will be paid in 48 equal consecutive semi-monthly installments, less any required taxes and withholdings,   payable on the 15th and last day of each month, commencing on the first installment date that is 60 days following the Retirement Termination.  The right to payment of the installment amounts pursuant to this paragraph shall be treated as a right to a series of separate payments for purposes of Section 409A of the Code; and the Code Section 409A six (6) month payment delay applicable to “specified employees” (within the meaning of Code Section 409A) shall not apply to installment amounts that are short-term deferrals excluded from Code Section 409A.    
		

		
			As prescribed by the Employment Agreement and as set forth in the General Release, you acknowledge that all of your right, title, and interest, in and into any and all shares of restricted stock or restricted stock units that have heretofore been awarded to you in connection with either (i) the execution of your Employment Agreement or (ii) your participation in the LTIP, other than those listed in Section 3(c) of the Retirement Agreement, that have not fully vested and have not been converted into shares of common stock of the Company as of the Retirement Date, will be forfeited and deemed cancelled effective as of the Retirement Date.  You further acknowledge and represent that other than as set forth in Sections 1 and 3 above (which satisfies all payments provided for under Section 7(a) and (b) of, or otherwise under, the Employment Agreement), you are not entitled to any future compensation (including any bonus or other payments) other than the Retirement Benefits. 
		

		
			4.         Continued Employment.  You must remain actively and continuously employed by the Company through the Retirement Date to be entitled to the Retirement Benefits.  Further, if, prior to the defined Retirement Date, you materially breach this Retirement Agreement or the Employment Agreement, or if your employment with the Company is terminated for Cause (as that term is defined in the Employment Agreement), you will not be entitled to any portion of the Retirement Benefits or other consideration provided hereunder.  
		

		
			5.         Transition and Cooperation. You acknowledge and agree that your agreement to fully cooperate with the Company with respect to the provisions of this Section 5 in its entirety is a material term of this Retirement Agreement.  The failure by you to cooperate fully, within reason, with the Company is a material breach of this Retirement Agreement.
		

		
			(a)       You acknowledge and agree that at all times until and through the Retirement Date, you will carry out your duties and responsibilities in a manner consistent with and in compliance with the Employment Agreement, including but not limited to Sections 2.3 and 2.4 thereof.  
		

		
			(b)       As requested by the Company’s Chief Executive Officer or the Board, you agree to assist and cooperate in transitioning to the new Chief Information Officer and/or any other Company designees all of your responsibilities and duties for the Company.    
		

		
			(c)       You agree to cooperate with the Company and its attorneys and other representatives as may be reasonably required concerning any past, present or future legal matters that relate to or arise out of your employment with the Company, with the understanding that any meetings you are required to attend are scheduled at mutually agreeable times.  You acknowledge that you have advised, and, through the Retirement Date, will advise, the Board of all facts of which you are aware that constitute or might constitute violations of the Company’s code of conduct or equivalent, ethical standards, Human Resource policies, or legal obligations.
		

		
			6.         Return of Company Property.  You agree that, on or before the Retirement Date, you will return all property of the Company and its Affiliates in the your possession or control, including, but not limited to, any hard copy or electronic documents, any Confidential Information (as defined in the Employment Agreement), any credit, telephone, identification and similar cards, keys, cellular phones, smartphones, tablets, computer equipment, software and 
		

		
			

		 

		

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			peripherals and originals and copies of books, records, and any other information pertaining to the business of the Company or its Affiliates. 
		

		
			7.         Release of Claims.  You agree that the foregoing consideration represents settlement in full of all outstanding obligations owed to you by the Company and its Affiliates (as that term is defined in the Employment Agreement), and their current and former officers, directors, employees, agents, investors, attorneys, shareholders, administrators, affiliates, benefit plans, plan administrators, insurers, divisions, and subsidiaries, and predecessor and successor corporations and assigns (collectively, the “Releasees”).  You, on your own behalf and on behalf of your respective heirs, family members, executors, agents, and assigns, hereby and forever release the Releasees from, and agree not to sue concerning, or in any manner to institute, prosecute, or pursue, any claim, complaint, charge, duty, obligation, or cause of action relating to any matters of any kind, whether presently known or unknown, suspected or unsuspected, that you may possess against any of the Releasees arising from any omissions, acts, facts, or damages that have occurred up until and including the Retirement Date, including, without limitation:
		

		
			(a)       any and all claims relating to or arising from your employment relationship with the Company and the termination of that relationship;
		

		
			(b)       any and all claims relating to, or arising from, your right to purchase, or actual purchase of shares of stock of the Company (not including any rights that may arise in the future under applicable stock option plans or award agreements), including, without limitation, any claims for fraud, misrepresentation, breach of fiduciary duty, breach of duty under applicable state corporate law, and securities fraud under any state or federal law;
		

		
			(c)       any and all claims for wrongful discharge of employment; termination in violation of public policy; discrimination; harassment; retaliation; breach of contract, both express and implied; breach of covenant of good faith and fair dealing, both express and implied; promissory estoppel; negligent or intentional infliction of emotional distress; fraud; negligent or intentional misrepresentation; negligent or intentional interference with contract or prospective economic advantage; unfair business practices; defamation; libel; slander; negligence; personal injury; assault; battery; invasion of privacy; false imprisonment; conversion; disability benefits; and breach of any common law and/or constitutional claim arising under state and/or federal law;
		

		
			(d)       any and all claims under the Age Discrimination in Employment Act, as amended (“ADEA”), Title VII of the Civil Rights Act of 1964, as amended (“Title VII”), The Civil Rights Act of 1866, as amended, the Civil Rights Act of 1991, the Americans with Disabilities Act (“ADA”), the Equal Pay Act, as amended, the Family and Medical Leave Act, the Worker Adjustment and Retraining Notification (“WARN”) Act, and any other federal, state or local employment law or regulation relating to employment or employment discrimination; 
		

		
			(e)       any claim to benefits under any plan, or under the federal Employee Retirement Income Security Act of 1974, as amended (“ERISA”), except for vested benefits, if any, under any Company benefit plans (pursuant to plan terms);
		

		
			(f)        any claim for any loss, cost, damage, or expense arising out of any dispute over the non-withholding or other tax treatment of any of the proceeds received by you as a result of this Retirement Agreement; 
		

		
			(g)       any and all claims regarding or challenging the validity and/or enforceability of Articles V and VII of the Employment Agreement; and
		

		
			(h)       any and all claims for attorneys’ fees and costs.
		

		
			You acknowledge and represent that, other than as set forth in this Retirement Agreement, the Company has paid or provided all salary, wages, bonuses, accrued vacation/paid time off, leave, severance, stock options, and any and all other benefits and compensation due to you.  You agree that the release set forth in this section shall be and remain in effect in all respects as a complete general release as to the matters released.  This release does not extend to any obligations incurred under this Retirement Agreement.  You understand that nothing in this Retirement Agreement precludes you from filing any charge with the Equal Employment Opportunity Commission (“EEOC”), the National Labor 

		 

		

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Relations Board (“NLRB”) or other governmental agency or from participating in any investigation, hearing, or proceeding of the EEOC, the NLRB or other governmental agency, if you choose to do so.  You still give up any and all past and present rights to recover personal relief or money damages arising out of your employment and termination, with the exception of any whistleblower awards or incentives that may be available to you for providing information to the Department of Justice, the Securities and Exchange Commission, Congress, or any federal Inspector General.   You further understand that this release does not extend to: (i) any rights or claims that arise after you sign this Retirement Agreement; (ii) any claim to challenge the release under the ADEA; or (iii) any rights that cannot be waived by operation of law.
		

		
			The Company, in return for Employee signing this Agreement, hereby mutually releases, acquits and forever discharges Employee from all actions, cause of action, liabilities, disputes, judgments, obligations, damages and claims in any manner relating to Employee’s employment and termination from employment with the Company, excluding any claims based on any conduct or events unknown to Company at the time of this Agreement that amount to fraudulent or criminal activity on Employee's part.  The Company’s release does not extend to any claims arising out of this Agreement and reserves its right to enforce this Agreement.
		

		
			8.         Acknowledgment of Waiver of Claims under ADEA.  You acknowledge that you are waiving and releasing any rights you may have under the Age Discrimination in Employment Act of 1967 (“ADEA”), and that this waiver and release is knowing and voluntary.  You agree that this waiver and release does not apply to any rights or claims that may arise under the ADEA after the Retirement Date.  You acknowledge that the consideration given for this waiver and release is in addition to anything of value to which you were already entitled.  You further acknowledge that you have been advised by this writing that you should consult with an attorney prior to executing this Retirement Agreement and that nothing in this Retirement Agreement prevents or precludes you from challenging or seeking a determination in good faith of the validity of this waiver under the ADEA, nor does it impose any condition precedent, penalties, or costs for doing so, unless specifically authorized by federal law.  
		

		
			9.         Time for Consideration of this Agreement.  You acknowledge that you were provided twenty-one (21) calendar days after receipt of the Retirement Agreement to consider and sign it (“Consideration Period”).  You can sign this Retirement Agreement at any time before the expiration of the Consideration Period, but if you do so, you acknowledge that you have done so voluntarily and of your own free will, without duress or coercion.  You are hereby advised and encouraged to consult an attorney prior to signing this Retirement Agreement, if you desire to do so.  You acknowledge that if you have signed this Retirement Agreement without consulting an attorney, you have done so knowingly and voluntarily. In the event you signs this Retirement Agreement and return it to the Company in less than the 21-day period identified above, you hereby acknowledge that you have freely and voluntarily chosen to waive the time period allotted for considering this Retirement Agreement. If you do not sign and return this Retirement Agreement by the expiration of the Consideration Period, this offer and this Retirement Agreement shall be withdrawn and no longer valid.
		

		
			10.         Revocation of this Agreement.  After you sign this Retirement Agreement, you have seven (7) calendar days to revoke your signature.  If you revoke your signature, this Retirement Agreement shall not be effective or enforceable.  Your revocation must be in writing, signed by you, and received by Debra Bronder, EVP Human Resources, within seven (7) calendar days after you sign this Retirement Agreement, not including the day you received it.  This Retirement Agreement shall be effective only after seven (7) calendar days have passed since your signature on it without your revocation.  Further, you understand that you will be provided with a copy of the General Release attached hereto as Exhibit A on or before the Retirement Date.  You understand and agree that if you do not sign the General Release and provide it to the Company to Debra Bronder, within seven (7) calendar days after your Retirement Date, or if you revoke the General Release, all benefits or payments provided under this Retirement Agreement will cease. 
		

		
			11.         Continuing Obligations.  Unless earlier terminated by you or the Company, the Employment Agreement shall remain in full force and effect through and including the Retirement Date.  For the avoidance of doubt, the provisions of Articles V (Protection of Information), VI (Statement Concerning the Company and Executive), VII (Effect of Termination of Employment on Compensation), VIII (Non-Competition Agreement) and IX (Dispute Resolution) of the Employment Agreement shall survive termination of your employment in accordance with their terms and are separately incorporated by reference herein.  For consideration received herein, you specifically acknowledge and agree not to contest the validity of the restrictive covenants contained in Article VIII of the Employment Agreement and your acknowledge your obligation to continue to fully comply with them after the Retirement Date.
		

		
			

		 

		

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			12.         Code Section Compliance.  It is the intention and purpose of the parties that this Retirement Agreement and all payments and benefits hereunder shall be, at all relevant times, in compliance with (or exempt from) Code Section 409A and all other applicable laws, and this Retirement Agreement shall be so interpreted and administered.  If necessary, any provision of this Retirement Agreement, or part hereof, that fails to comply with Section 409A shall be considered null and void. For purposes of Code Section 409A, any payment required to be made hereunder shall be treated as separate from any other payment or payments required to be made hereunder, and the right to a series of payments under the Agreement shall be treated as a right to a series of separate payments.  For purposes of the Agreement, references to a “termination,” “termination of employment,” or like terms shall mean “separation from service” as defined under Code Section 409A to the extent applicable.  All reimbursements and in-kind benefits provided under the Retirement Agreement shall be made or provided in accordance with the requirements of Code Section 409A, including, where applicable, the requirement that (i) any reimbursement is for expenses eligible for reimbursement during the period of time specified in the Retirement Agreement; (ii) the amount of expenses eligible for reimbursement, or in-kind benefits provided, during a calendar year may not affect the expenses eligible for reimbursement, or in-kind benefits provided in any other calendar year; (iii) the reimbursement of an eligible expense will be made no later than the last day of the calendar year following the year in which the expense is incurred; and (iv) the right to reimbursement or in-kind benefit is not subject to liquidation or exchange for another benefit.  In no event may you designate the year of payment for any amounts payable under the Retirement Agreement.    
		

		
			13.         Authority.  The Company represents and warrants that the undersigned has the authority to act on behalf of the Company and to bind the Company and all who may claim through it to the terms and conditions of this Retirement Agreement.  You represent and warrant that you have the capacity to act on your own behalf and on behalf of all who might claim through you to bind them to the terms and conditions of this Retirement Agreement.  Each Party warrants and represents that there are no liens or claims of lien or assignments in law or equity or otherwise of or against any of the claims or causes of action released herein.
		

		
			14.         No Representations; Amendment.  You represent that you have had an opportunity to consult with an attorney, and have carefully read and understand the scope and effect of the provisions of this Retirement Agreement.  You have not relied upon any representations or statements made by the Company that are not specifically set forth in this Retirement Agreement. This Retirement Agreement may only be amended in a writing signed by you and the Company.
		

		
			15.         Severability.  In the event that any provision or any portion of any provision hereof or any surviving agreement made a part hereof becomes or is declared by a court of competent jurisdiction or arbitrator to be illegal, unenforceable, or void, this Retirement Agreement shall continue in full force and effect without said provision or portion of provision.
		

		
			16.         Entire Agreement.  This Retirement Agreement and any agreements referenced or incorporated herein represent the entire agreement and understanding between the Company and you concerning the subject matter of this Agreement and supersede and replace any and all prior agreements and understandings concerning the subject matter of this Retirement Agreement. 
		

		
			17.         Governing Law; Dispute Resolution.  This Retirement Agreement shall be governed by the laws of the State of Texas, without regard for choice-of-law provisions.  Disputes arising out of this Retirement Agreement shall be governed by Article IX of the Employment Agreement. The parties consent to personal and exclusive jurisdiction and venue in the federal and state courts in Texas for any authorized court litigation.
		

		
			18.         Transferability.  This Retirement Agreement shall be binding upon any successor to the Company, whether by merger, consolidation, purchase of assets or otherwise.  No provision of this Retirement Agreement is intended to confer any rights, benefits, remedies, obligations or liability hereunder upon any person or entity, other than the parties hereto and, with respect to the Company only, its Affiliates; their successors and assigns; and each of their respective past, present, and future employees, officers, directors, shareholders, partners, members, managers, insurers, attorneys, agents, and representatives, and with respect to you only, your heirs and your estate.
		

		
			[Signatures on Following Page]
		

		
			

		 

		

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			IN WITNESS WHEREOF, the Parties have executed this Retirement Agreement on the respective dates set forth below.
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						Dated:  January 3, 2017

					
					
						/s/ P. Michael McCarthy

				
	
					
						 

					
					
						P. Michael McCarthy, Senior Executive

				
	
					
						 

					
					
						Vice President, Chief Information Officer

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Cardtronics USA, Inc.

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						Dated:  January 3, 2017

					
					
						 

					
					
						/s/ Debra Bronder

				
	
					
						 

					
					
						 

					
					
						Debra Bronder, EVP Human Resources

				

		
			 
		

		
			
		

		
			

		 

		

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			EXHIBIT A – GENERAL RELEASE
		

		
			In exchange for the benefits set forth in the Retirement Agreement between Cardtronics, USA, Inc. (the “Company”) and P. Michael McCarthy (“You” or “Employee”) dated January 3, 2016, this General Release is made effective as of the date set forth below by and between Company and Employee.   You hereby acknowledge, understand and agree as follows:
		

		
			1.         Waiver and Release of Employment Claims.  In consideration of the promises made by Company in the Retirement Agreement, you forever release Company and its Affiliates (as that term is defined in the Employment Agreement) and each of their current and former officers, directors, employees, agents, investors, attorneys, shareholders, administrators, affiliates, benefit plans, plan administrators, insurers, divisions, and subsidiaries, and predecessor and successor corporations and assigns (collectively, the “Releasees”).  You, on your own behalf and on behalf of your respective heirs, family members, executors, agents, and assigns, hereby and forever release the Releasees from, and agree not to sue concerning, or in any manner to institute, prosecute, or pursue, any claim, complaint, charge, duty, obligation, or cause of action relating to any matters of any kind, whether presently known or unknown, suspected or unsuspected, that you may possess against any of the Releasees arising from any omissions, acts, facts, or damages that have occurred up until and including the Effective Date (as defined below), including, without limitation:
		

		
			(a)       any and all claims relating to or arising from your employment relationship with the Company and the termination of that relationship;
		

		
			(b)       any and all claims relating to, or arising from, your right to purchase, or actual purchase of shares of stock of the Company (not including any rights that may arise in the future under applicable stock option plans or award agreements), including, without limitation, any claims for fraud, misrepresentation, breach of fiduciary duty, breach of duty under applicable state corporate law, and securities fraud under any state or federal law;
		

		
			(c)       any and all claims for wrongful discharge of employment; termination in violation of public policy; discrimination; harassment; retaliation; breach of contract, both express and implied; breach of covenant of good faith and fair dealing, both express and implied; promissory estoppel; negligent or intentional infliction of emotional distress; fraud; negligent or intentional misrepresentation; negligent or intentional interference with contract or prospective economic advantage; unfair business practices; defamation; libel; slander; negligence; personal injury; assault; battery; invasion of privacy; false imprisonment; conversion; disability benefits; and breach of any common law and/or constitutional claim arising under state and/or federal law;
		

		
			(d)       any and all claims under the Age Discrimination in Employment Act, as amended (“ADEA”), Title VII of the Civil Rights Act of 1964, as amended (“Title VII”), The Civil Rights Act of 1866, as amended, the Civil Rights Act of 1991, the Americans with Disabilities Act (“ADA”), the Equal Pay Act, as amended, the Family and Medical Leave Act, the Worker Adjustment and Retraining Notification (“WARN”) Act, and any other federal, state or local employment law or regulation relating to employment or employment discrimination; 
		

		
			(e)       any claim to benefits under any plan, or under the federal Employee Retirement Income Security Act of 1974, as amended (“ERISA”), except for vested benefits, if any, under any Company benefit plans (pursuant to plan terms);
		

		
			(f)        any claim for any loss, cost, damage, or expense arising out of any dispute over the non-withholding or other tax treatment of any of the proceeds received by you as a result of the Retirement Agreement or any other agreement with the Company; 
		

		
			(g)       any and all claims regarding or challenging the validity and/or enforceability of Articles V and VII of the Employment Agreement; and
		

		
			(h)       any and all claims for attorneys’ fees and costs.
		

		
			You acknowledge and represent that the Company has paid or provided all salary, wages, bonuses, accrued vacation/paid time off, leave, severance, stock options, and any and all other benefits and compensation due to you.  You 

		 

		

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acknowledge that all of your right, title, and interest, in and into any and all shares of restricted stock or restricted stock units that have heretofore been awarded to you in connection with either (i) the execution of your Employment Agreement or (ii) your participation in the Company’s Long Term Equity Incentive Plan, other than those listed in Sections 3(c) and 3(d) of the Retirement Agreement, that have not fully vested and have not been converted into shares of common stock of the Company as of the Retirement Date (as such term is defined in the Retirement Agreement), will be forfeited and deemed cancelled effective as of the Retirement Date.
		

		
			You agree that the release set forth in this section shall be and remain in effect in all respects as a complete general release as to the matters released.  You understand that nothing in this General Release precludes you from filing any charge with the Equal Employment Opportunity Commission (“EEOC”), the National Labor Relations Board (“NLRB”) or other governmental agency or from participating in any investigation, hearing, or proceeding of the EEOC, the NLRB or other governmental agency, if you choose to do so.  You still give up any and all past and present rights to recover personal relief or money damages arising out of your employment and termination, with the exception of any whistleblower awards or incentives that may be available to you for providing information to the Department of Justice, the Securities and Exchange Commission, Congress, or any federal Inspector General.   You further understand that this release does not extend to: (i) any rights or claims that arise after you sign the General Release; (ii) any claim to challenge the release under the ADEA; or (iii) any rights that cannot be waived by operation of law.
		

		
			2.         Acknowledgment of Waiver of Claims under ADEA.  You acknowledge that you are waiving and releasing any rights you may have under the Age Discrimination in Employment Act of 1967 (“ADEA”), and that this waiver and release is knowing and voluntary.  You agree that this waiver and release does not apply to any rights or claims that may arise under the ADEA after the Effective Date.  You acknowledge that the consideration given for this waiver and release is in addition to anything of value to which you were already entitled.  You further acknowledge that you have been advised by this writing that you should consult with an attorney prior to executing this General Release and that nothing in this General Release prevents or precludes you from challenging or seeking a determination in good faith of the validity of this waiver under the ADEA, nor does it impose any condition precedent, penalties, or costs for doing so, unless specifically authorized by federal law.  
		

		
			3.         Time for Consideration.  You acknowledge that you were provided twenty-one (21) calendar days after receipt of this General Release to consider and sign it (“Consideration Period”).  You can sign this General Release at any time after February 1, 2017 but before February 22, 2017. You are hereby advised and encouraged to consult an attorney prior to signing this General Release, if you desire to do so.  By signing this General Release, you agree that you had at least twenty-one (21) calendar days to consider it.  You acknowledge that if you have signed this General Release without consulting an attorney, you have done so knowingly and voluntarily.  In the event you sign this General Release and return it to the Company in less than the 21-day period identified above, you hereby acknowledge that you have freely and voluntarily chosen to waive the time period allotted for considering this General Release. If you do not sign and return this General Release between February 1, 2017 and February 22, 2017, all benefits or payments provided under the Retirement Agreement will cease.
		

		
			4.         Revocation.  After you sign this General Release, you have seven (7) calendar days to revoke your signature.  If you revoke your signature, this General Release shall not be effective or enforceable.  Your revocation must be in writing, signed by you, and received by Debra Bronder, EVP Human Resources, within seven (7) calendar days after you sign this General Release, not including the day you received it.  This General Release shall be effective only after seven (7) calendar days have passed since your signature on it without your revocation (the “Effective Date”).  Further, you understand that if you revoke this General Release, all benefits or payments provided under the Retirement Agreement will cease. 
		

			
					
						You represent and agree that you have fully read and understand the meaning of this General Release and are voluntarily entering into this General Release with the intention of giving up all claims against the Company and Releasees.//s/

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						/s/ P. Michael McCarthy

					
					
						 

					
					
						January 3, 2017

				
	
					
						P. Michael McCarthy

					
					
						 

					
					
						Date

				

		
			 
		

		 

		

			8Exhibit 10.1

 Exhibit 10.1 

Execution Version 

SIXTH AMENDMENT TO CREDIT AGREEMENT 

SIXTH AMENDMENT TO CREDIT AGREEMENT, dated as of February 16, 2017 (this “Amendment”), among APPVION, INC., a Delaware
corporation (the “Borrower”), PAPERWEIGHT DEVELOPMENT CORP., a Wisconsin corporation (“Holdings”), and the Lenders (as defined below) and other financial institutions party hereto, and acknowledged by JEFFERIES
FINANCE LLC, a Delaware limited liability company, as Administrative Agent (in such capacity, the “Administrative Agent”) for the financial institutions from time to time party to the Credit Agreement referred to below (each a
“Lender” and collectively the “Lenders”). 
 W I T N E S S E T H: 

WHEREAS, the Borrower, Holdings, the Administrative Agent and the Lenders have entered into that certain Credit Agreement dated as of
June 28, 2013 (as amended by that certain First Amendment to Credit Agreement dated as of November 11, 2013, by that certain Second Amendment to Credit Agreement dated as of November 11, 2014, by that certain Third Amendment to Credit
Agreement, dated as of August 3, 2015, by that certain Fourth Amendment to Credit Agreement, dated as of June 24, 2016, and by that certain Fifth Amendment to Credit Agreement, dated as of January 16, 2017, and as the same may be
further amended, restated, extended, supplemented or otherwise modified and in effect from time to time, the “Credit Agreement”). Capitalized terms used herein and not defined herein shall have the meanings ascribed thereto in the
Credit Agreement; 
 WHEREAS, the Borrower has requested additional Term Commitments (the “Sixth Amendment Term
Commitments”) on the Sixth Amendment Effective Date (as defined herein) in an aggregate principal amount not to exceed $20,000,000 (the “Maximum Sixth Amendment Term Commitment”); 

WHEREAS, each of the financial institutions identified on the signature pages hereto that has elected to request an allocation of the Sixth
Amendment Term Commitments (each a “Sixth Amendment Initial Term Lender”) has agreed to provide such Sixth Amendment Term Commitments in the principal amount of up to the amount set forth on such Sixth Amendment Initial Term
Lender’s signature page hereto, on the terms and conditions set forth herein; 
 WHEREAS, each of the financial institutions identified
on the signature pages hereto that has elected to request an allocation of Sixth Amendment Term Loans (as defined herein) (each a “Sixth Amendment Purchasing Term Lender” and together with the Sixth Amendment Initial Term Lenders,
the “Sixth Amendment Term Lenders”) has agreed to purchase promptly after the Sixth Amendment Effective Date by way of assignment from the applicable Sixth Amendment Initial Term Lender identified on Schedule A hereto, in accordance
with the terms of the Credit Agreement, Sixth Amendment Term Loans in the principal amount of up to the amount set forth on such Sixth Amendment Purchasing Term Lender’s signature page hereto, on the terms and conditions set forth herein; 

WHEREAS, each of the Lenders party hereto acknowledges and agrees that, subject to Section 1(b) hereof, following the allocation of the
Sixth Amendment Term Commitments by the Borrower (and upon notice to the Administrative Agent), Schedule A hereto shall reflect (i) the final allocation of Sixth Amendment Term Commitments of each Sixth Amendment Initial Term Lender, as
indicated under the heading “Sixth Amendment Term Commitments” therein and (ii) the final allocation of Sixth Amendment Term Loans of each Sixth Amendment Purchasing Term Lender following the Sixth Amendment Effective Date, as
indicated under the heading “Post-Closing Sixth Amendment Term Loan Allocations” therein; 

 WHEREAS, the Borrower and Holdings have requested that the Required Lenders amend the Credit
Agreement in certain respects to effect the Sixth Amendment Term Commitments and the funding of the Sixth Amendment Term Loans, in each case, in accordance with the terms and subject to the conditions herein set forth, and that the Administrative
Agent hereby acknowledges such amendment; and 
 WHEREAS, Required Lenders agree to accommodate such requests of the Borrower and Holdings,
in each case on the terms and subject to the conditions herein set forth; 
 NOW, THEREFORE, in consideration of the foregoing, the
covenants and conditions contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Borrower, Holdings and the Lenders party hereto agree, and the Administrative Agent acknowledges,
as follows: 
  

	Section	1    Consents; Sixth Amendment Term Loans. 

 (a) Subject to the terms
and conditions set forth herein, each of the Lenders party to this Amendment (which collectively constitute the Required Lenders under the Credit Agreement) hereby consents to the amendments set forth herein and to the incurrence of the Sixth
Amendment Term Loans. 
 (b) Subject to the terms and conditions set forth herein, (i) each Sixth Amendment Initial Term Lender
severally agrees to make additional Term Loans in the principal amount equal to such Sixth Amendment Initial Term Lenders’ Sixth Amendment Term Commitment set forth opposite such Sixth Amendment Initial Term Lender’s name on Schedule
A hereto under the heading “Sixth Amendment Term Commitments” (such Term Loans, the “Sixth Amendment Term Loans”) to the Borrower on the Sixth Amendment Effective Date (as defined below) at the issue price set forth on
the Lender signature pages hereto and (ii) each Sixth Amendment Purchasing Term Lender severally agrees to purchase promptly after the Sixth Amendment Effective Date by way of assignment from the applicable Sixth Amendment Initial Term Lender
identified on Schedule A hereto, in accordance with the terms of the Credit Agreement, Sixth Amendment Term Loans in the principal amount equal to such Sixth Amendment Purchasing Term Lenders’ allocated amount set forth opposite such Sixth
Amendment Purchasing Lender’s name on Schedule A hereto under the heading “Post-Closing Sixth Amendment Term Loan Allocations” at the price set forth on the Lender signature pages hereto. Each Sixth Amendment Initial Term
Lender’s commitment to provide such Sixth Amendment Term Loans shall in no event exceed the principal amount of such Sixth Amendment Initial Term Lender’s Sixth Amendment Term Commitment set forth on its signature page hereto and each
Sixth Amendment Purchasing Term Lender’s allocation of Sixth Amendment Term Loans shall in no event exceed the principal amount of such Sixth Amendment Purchasing Term Lender’s requested amount of Sixth Amendment Term Loans set forth on
its signature page hereto. Notwithstanding the foregoing, (i) in the event of an Over-Subscription (as defined below), the principal amount of any Sixth Amendment Term Lender’s Sixth Amendment Term Commitment or Sixth Amendment Term Loan
allocation, as the case may be, as set forth on its signature page hereto may be reduced at the Borrower’s sole discretion (and upon notice to the Administrative Agent) (provided that in no event shall any such reduction result in any Sixth
Amendment Term Lender receiving an allocation that is less than its pro rata share of such Sixth Amendment Term Loans) and (ii) in the event that any Lender returns an executed signature page without electing a request for any such amount of
Sixth Amendment Term Commitments or allocation of Sixth Amendment Term Loans, as the case may be, such Lender shall be deemed to have consented to this Amendment and elected not to provide a Sixth Amendment Term Commitment and not to purchase any
Sixth Amendment Term Loans, as the case may be. For the avoidance of doubt, upon the allocation of the Sixth Amendment Term Commitments by the Borrower (and upon notice to the Administrative Agent), Schedule A hereto shall reflect (i) the final
allocation of Sixth Amendment Term Commitments of each 

 
Sixth Amendment Initial Term Lender, as indicated under the heading “Sixth Amendment Term Commitments” therein and (ii) the final allocation of Sixth Amendment Term Loans of each
Sixth Amendment Purchasing Term Lender following the Sixth Amendment Effective Date, as indicated under the heading “Post-Closing Sixth Amendment Term Loan Allocations” therein. Pursuant to the amendments set forth in Section 2
of this Amendment, the Sixth Amendment Term Loans shall be “Loans” and “Term Loans” for all purposes under the Credit Agreement and each of the other Loan Documents and shall have terms identical to the Term Loans outstanding
under the Credit Agreement immediately prior to the Sixth Amendment Effective Date, including, without limitation, with respect to voting, pro rata treatment, maturity, Applicable Rate, mandatory and voluntary prepayments, repayments and other
economic terms. In addition, each Sixth Amendment Term Lender hereby agrees that upon, and subject to, the occurrence of the Sixth Amendment Effective Date, such Sixth Amendment Term Lender shall be deemed to be, and shall become, a
“Lender” under the Credit Agreement and the other Loan Documents. For purposes of this Amendment, an “Over-Subscription” shall occur if the aggregate principal amount of requested Sixth Amendment Initial Term Commitments
and requested Sixth Amendment Term Loans exceeds the Maximum Sixth Amendment Term Commitment as of the Sixth Amendment Effective Date. 
  

	Section	2    Amendments to Credit Agreement. 

 Effective as of the Sixth
Amendment Effective Date, and in reliance on the representations and warranties of the Borrower set forth in this Amendment and in the Credit Agreement, as amended hereby: 

(a) Section 1.01 of the Credit Agreement is hereby amended by adding the following definitions in appropriate alphabetical order:

 ““Sixth Amendment Term Commitment” means, as to each Sixth Amendment Term Lender on the Sixth Amendment Effective
Date, its obligation to make Sixth Amendment Term Loans to the Borrower pursuant to Section 2.01(c) in an aggregate principal amount not to exceed the amount set forth opposite such Sixth Amendment Term Lender’s name on Schedule
A to the Sixth Amendment under the caption “Sixth Amendment Term Commitment”.” 
 ““Sixth Amendment Term
Lender” means at any time, (a) on or prior to the Sixth Amendment Effective Date, any Lender or financial institution that has a Sixth Amendment Term Commitment at such time and (b) at any time after the Sixth Amendment Effective
Date, any Lender or other financial institution that holds Sixth Amendment Term Loans at such time.” 
 ““Sixth Amendment
Term Loans” means an advance of term loans made by any Sixth Amendment Term Lender under the Term Facility on the Sixth Amendment Effective Date.” 

““Sixth Amendment” means that certain Sixth Amendment to Credit Agreement, dated as of February 16, 2017, by and
among the Borrower, Holdings, the Sixth Amendment Term Lenders and certain Lenders, and acknowledged by the Administrative Agent.” 

““Sixth Amendment Effective Date” means the first date all the conditions in Section 3 of the Sixth Amendment are
satisfied or waived in accordance with the Sixth Amendment.” 
 (b) Section 1.01 of the Credit Agreement is hereby amended
by amending and restating each of the following definitions in its entirety: 

 ““Lender” has the meaning specified in the introductory paragraph hereto
and as context requires includes the Swing Line Lender. For the avoidance of doubt, “Lender” shall also include any Sixth Amendment Term Lender. 

““Loan” means an extension of credit by a Lender to the Borrower under Article II in the form of a Term Loan, a
Revolving Credit Loan or a Swing Line Loan. For the avoidance of doubt, Loans shall also include (x) the Sixth Amendment Term Loans and (y) any incremental Term Loans or incremental Revolving Credit Loans made pursuant to
Section 2.14.” 
 ““Term Borrowing” means a Borrowing consisting of simultaneous Term Loans of the
same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Term Lenders pursuant to Section 2.01(a) and Section 2.01(c). 

““Term Commitment” means, as to each applicable Term Lender, its obligation to (x) make Term Loans to the Borrower
on the Closing Date pursuant to Section 2.01(a) in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 under the caption “Term
Commitment” or opposite such caption in the Assignment and Assumption pursuant to which such Term Lender becomes a party hereto, as applicable, and (y) make Term Loans to the Borrower on the Sixth Amendment Effective Date pursuant to
Section 2.01(c) in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule A to the Sixth Amendment under the caption “Sixth Amendment Term Commitment”
or opposite such caption in the Assignment and Assumption pursuant to which such Term Lender becomes a party hereto, as applicable, as such amount may be increased from time to time pursuant to Section 2.14 or otherwise adjusted from
time to time in accordance with this Agreement.” 
 ““Term Loan” means an advance made by any Term Lender under
the Term Facility. For the avoidance of doubt, the Sixth Amendment Term Loans and term loans made pursuant to Section 2.14 shall be deemed to be “Term Loans” for purposes of this Agreement.” 

(c) Section 2.01 of the Credit Agreement is hereby amended by adding a new clause (c) to the end thereof as follows: 

“(c) The Sixth Amendment Term Loan Borrowings. Subject to the terms and conditions set forth herein (including without limitation
the conditions set forth in Section 4.02), each Sixth Amendment Term Lender with a Sixth Amendment Term Commitment severally agrees to make loans to the Borrower on the Sixth Amendment Effective Date, in an aggregate amount not to exceed
such Sixth Amendment Term Lender’s Sixth Amendment Term Commitment. The Sixth Amendment Term Borrowing shall consist of Sixth Amendment Term Loans made simultaneously by the Sixth Amendment Term Lenders in accordance with their respective Sixth
Amendment Term Commitments. Amounts borrowed under this Section 2.01(c) and repaid or prepaid may not be reborrowed. Sixth Amendment Term Loans may be Base Rate Loans or Eurodollar Rate Loans as further provided herein.” 

(d) Section 2.07(a) of the Credit Agreement is hereby amended by amending and restating the first sentence of such Section in its
entirety as follows: 

 “(a) The Borrower shall make quarterly repayments on the aggregate outstanding principal
amount of the Term Loans issued on the Closing Date to the Term Lenders holding such Term Loans on the first day of each fiscal quarter starting on October 1, 2013 in the amount of $837,500 (which amounts shall be reduced as a result of the
application of prepayments in accordance with Section 2.05(b)(iii)) (it being understood that there shall be no required repayments of the Sixth Amendment Term Loans pursuant to this Section 2.07(a) prior to the Maturity Date);
provided, however, that the final principal repayment installment of the Term Loans (including, for the avoidance of doubt, the Sixth Amendment Term Loans) shall be repaid on the Maturity Date for the Term Facility and in any event
shall be in an amount equal to the aggregate principal amount of all Term Loans outstanding on such date.”. 
 (e)
Section 5.16 of the Credit Agreement is hereby amended by adding the following sentence to the end thereof as follows: “The Borrower will use the proceeds of the Sixth Amendment Term Loans made pursuant to
Section 2.01(c) for working capital and general corporate purposes of the Borrower and its Subsidiaries, which may include repayments of outstanding Revolving Credit Loans.” 

 

	Section	3    Delayed Effectiveness of Amendments 

 Notwithstanding anything
to the contrary set forth herein, the Sixth Amendment Term Commitments set forth in Section 1 hereof and the amendments to the Credit Agreement set forth in Section 2 hereof shall automatically become effective as of the date
upon which the following conditions have been satisfied (the “Sixth Amendment Effective Date”), without any further action being required of any party to the Credit Agreement: 

(a) the Borrower, Holdings, the Administrative Agent and the Required Lenders shall have signed a counterpart hereof (whether the same or
different counterparts) and shall have delivered (including by way of facsimile or other electronic transmission) such counterpart to the Administrative Agent; 

(b) the Administrative Agent shall have received the following, each in form and substance reasonably satisfactory to the Administrative Agent
(unless otherwise specified): 
 (i) an Acknowledgement in the form of Exhibit A-1 or Exhibit A-2 hereto executed by each Loan Party that is
not a party hereto; 
 (ii) a favorable opinion of (i) DLA Piper LLP, counsel to the Loan Parties, (ii) Foley & Lardner
LLP, Wisconsin counsel to the Loan Parties, and (iii) DLA Piper (Canada) LLP, Canadian counsel to Appvion Canada, in each case, addressed to the Administrative Agent and each Lender, as to the matters concerning the Loan Parties and the Loan
Documents, including this Amendment; 
 (iii) such certificates of resolutions or other action, incumbency certificates and/or other
certificates of Responsible Officers of each Loan Party as the Administrative Agent may require evidencing the identity, authority and capacity of each Responsible Officer thereof authorized to act as a Responsible Officer in connection with this
Agreement and the other Loan Documents to which such Loan Party is a party or is to be a party; 
 (iv) such documents and certifications as
the Administrative Agent may reasonably require to evidence that each Loan Party is duly organized or formed, and that each of the Borrower, Holdings and other Guarantors is validly existing, in good standing and qualified to engage in business in
each jurisdiction where its ownership, lease or operation of properties or the conduct of its business requires such qualification, except to the extent that failures to do so could not reasonably be expected either individually or in the aggregate
to have a Material Adverse Effect; 

 (v) a certificate, dated the Sixth Amendment Effective Date and signed by a Responsible Officer
of the Borrower, certifying on behalf of the Borrower and Holdings that (x) the representations and warranties made by the Borrower and Holdings in Section 4 of this Amendment are true and correct and (y) the conditions to all
Credit Extensions set forth in Section 4.02 of the Credit Agreement have been satisfied; 
 (vi) a Request for Credit Extension in
accordance with Section 2.02 of the Credit Agreement; 
 (vii) a customary solvency certificate executed by the chief financial officer
of the Borrower; and 
 (c) all fees and expenses required to be paid to the Administrative Agent on the Sixth Amendment Effective Date
(including, without limitation, reasonable and documented out-of-pocket legal fees and expenses) shall have been paid (or shall concurrently be paid) to the extent the Borrower has received an invoice therefor at least one Business Day prior to the
Sixth Amendment Effective Date. 
 (d) The Borrower shall have paid or have caused to be paid, to the Lenders with Term Loans existing
immediately prior to the Sixth Amendment Effective Date, all accrued interest owing on such Term Loans to and until the Sixth Amendment Effective Date. 

(e) (x) with respect to any Sixth Amendment Term Lender that is not a Lender immediately prior to the Sixth Amendment Effective Date, the
Administrative Agent shall have received an Administrative Questionnaire and (y) the Administrative Agent shall have received, to the extent reasonably requested by the Administrative Agent or any Lender, at least three (3) Business Days
prior to the Sixth Amendment Effective Date, all documentation and other information required by regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including, without limitation,
the Patriot Act. 
  

	Section	4    Representations and Warranties. 

 To induce the Administrative
Agent and the Lenders to enter into this Amendment, each of the Borrower and Holdings, jointly and severally, hereby represents and warrants to the Administrative Agent and the Lenders that as of the date hereof: 

(a) The representations and warranties of the Borrower and each other Loan Party contained in Article V of the Credit Agreement or in
any other Loan Document are true and correct in all material respects (or, if the applicable representation and warranty is already subject to a materiality standard, is true and correct in all respects) on and as of the Sixth Amendment Effective
Date, except to the extent that such representations and warranties specifically relate to an earlier date, in which case they are true and correct in all material respects (or, if the applicable representation and warranty is already subject to a
materiality standard, are true and correct in all respects) as of such earlier date, and except that for purposes of this Section 4(a), the representations and warranties contained in Section 5.01 of the Credit Agreement
shall be deemed to refer to the most recent statements furnished pursuant to Sections 6.01(a) and (b) of the Credit Agreement, respectively; 

(b) each Loan Party that is a party hereto has all requisite corporate power and authority to execute, deliver and perform its obligations
under this Amendment and the Credit Agreement, as amended hereby; 

 (c) the execution, delivery and performance by each Loan Party that is a party hereto of this
Amendment and the Credit Agreement, as amended hereby, have been duly authorized by all necessary action by such Person; 
 (d) this
Amendment and the Credit Agreement, as amended hereby, each constitutes the legal, valid and binding obligation of each Loan Party that is a party hereto and thereto, enforceable against such Loan Party in accordance with its terms, except as may be
limited by bankruptcy, insolvency, reorganization, moratorium or similar laws relating to or limiting creditors’ rights generally or by equitable principles relating to enforceability; 

(e) no Default or Event of Default exists, both before and after giving effect to this Amendment and the incurrence of the Sixth Amendment Term
Loans; and 
 (f) the execution, delivery and performance of this Amendment does not violate any (a) material Requirement of Law,
(b) Contractual Obligation (including, for the avoidance of doubt, the Credit Agreement as in effect immediately prior to the Sixth Amendment Effective Date) or (c) Organization Document of any Loan Party and will not result in, or
require, the creation or imposition of any Lien on any of their respective properties or revenues pursuant to any such Requirement of Law or any such Contractual Obligation or Organization Document (other than the Liens created by the Security
Documents). No Requirements of Law or Contractual Obligations applicable to any Group Member could reasonably be expected, either individually or in the aggregate, to have a Material Adverse Effect. 

 

	Section	5    Reference and Effect on the Credit Documents. 

 (a) On and after
the Sixth Amendment Effective Date each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof” or words of like import referring to the Credit Agreement, and each reference in the other Loan
Documents to the “Credit Agreement”, shall mean and be a reference to the Credit Agreement, as amended or otherwise modified hereby. 

(b) The Credit Agreement and each of the other Loan Documents, as specifically amended or otherwise modified by this Amendment, are and shall
continue to be in full force and effect and are hereby in all respects ratified, confirmed and reaffirmed. 
 (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, any L/C Issuer or the Administrative Agent under any of the Loan Documents, nor constitute a waiver of
any provision of any of the Loan Documents. Borrower and Holdings hereby (i) acknowledge and agree that this Amendment does not constitute a novation or termination of the Obligations as in effect prior to the Sixth Amendment Effective Date and
which remain outstanding as of the Sixth Amendment Effective Date, (ii) acknowledge and agree that the Obligations under the Loan Documents (as amended hereby) are in all respects continuing, (iii) ratify and reaffirm all of their payment
and performance obligations, contingent or otherwise, under each of the Loan Documents to which they are a party (after giving effect hereto), (iv) ratify and reaffirm any guarantee and grant of security interests and Liens on any of their
respective Collateral pursuant to any Loan Document as security for or otherwise guaranteeing the Borrower’s Obligations under or with respect to the Loan Documents and confirm and agree that such security interests and Liens are in all
respects continuing and in full force and effect and shall continue to secure all of the Obligations under the Loan Documents (after giving effect hereto) and (v) agree that this Amendment shall in no manner impair or otherwise adversely affect
any of such Liens. 

 (d) Except as expressly set forth herein, nothing contained in this Amendment and no action by,
or inaction on the part of, any Lender, any L/C Issuer or the Administrative Agent shall, or shall be deemed to, directly or indirectly constitute a consent to or waiver of any past, present or future violation of any provisions of the Credit
Agreement or any other Loan Document. 
 (e) This Amendment is a Loan Document. 

 

	Section	6    GOVERNING LAW AND JURISDICTION. 

 (a) GOVERNING LAW. THIS
AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 
 (b) SUBMISSION TO JURISDICTION.
THE BORROWER AND HOLDINGS IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE EXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY AND OF THE UNITED STATES DISTRICT COURT OF THE SOUTHERN
DISTRICT OF NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AMENDMENT OR ANY OTHER LOAN DOCUMENT, OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND EACH OF THE PARTIES HERETO
IRREVOCABLY AND UNCONDITIONALLY AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING SHALL BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE
PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING IN THIS AMENDMENT OR IN ANY OTHER
LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT THE ADMINISTRATIVE AGENT, THE REVOLVER AGENT, ANY LENDER OR ANY L/C ISSUER MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS AMENDMENT OR ANY OTHER LOAN DOCUMENT AGAINST THE BORROWER OR
ANY OTHER LOAN PARTY OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION. 
  

	Section	7    Miscellaneous. 

 (a) No Waiver, Etc. Except as otherwise
expressly set forth herein, nothing in this Amendment is intended or shall be deemed or construed to extend to or affect in any way any of the Obligations or any of the rights and remedies of the Administrative Agent, the Revolver Agent, any Lender
or any L/C Issuer arising under the Credit Agreement, any of the other Loan Documents or applicable law. The failure of the Administrative Agent, the Revolver Agent, any Lender or any L/C Issuer at any time or times hereafter to require strict
performance by any Loan Party or any other Person obligated under any Loan Document of any of the respective provisions, warranties, terms and conditions contained herein or therein shall not waive, affect or diminish any right of such Person at any
time or times thereafter to demand strict performance thereof; and no rights of the Administrative Agent, the Revolver Agent, any Lender or any L/C Issuer hereunder shall be deemed to have been waived by any act or knowledge of such Person, or any
of its agents, attorneys, officers or employees, unless such waiver is contained in an instrument in writing signed by an authorized officer of such Person and specifying such waiver. Except as otherwise expressly set forth herein, no waiver by the
Administrative Agent, the Revolver Agent, any Lender or any L/C Issuer of any of its rights or remedies shall operate as a waiver of any other of its rights or remedies or any of its rights or remedies on a future occasion at any time and from time
to time. All terms and provisions of the Credit Agreement and each of the other Loan Documents remain in full force and effect, except to the extent expressly modified by this Amendment. 

 (b) Execution in Counterparts. This Amendment may be executed by one or more of the
parties to this Amendment on any number of separate counterparts, and all of such counterparts taken together shall be deemed to constitute one and the same instrument. Any party hereto may execute and deliver a counterpart of this Amendment by
delivering by facsimile transmission or electronic mail in portable document format a signature page of this Amendment signed by such party, and such signature shall be treated in all respects as having the same effect as an original signature. 

(c) Severability. The invalidity, illegality or unenforceability of any provision in or obligation under this Amendment in any
jurisdiction shall not affect or impair the validity, legality or enforceability of the remaining provisions or obligations under this Amendment or of such provision or obligation in any other jurisdiction. 

(d) No Third Party Beneficiaries. This Amendment shall be binding upon and inure to the benefit of each party hereto and their
respective successors and assigns. No Person other than the parties hereto, their respective successors and assigns and any other Lender, L/C Issuer or Revolver Agent shall have rights hereunder or be entitled to rely on this Amendment, and all
third-party beneficiary rights are hereby expressly disclaimed. 
 (e) Section Titles. The section and subsection titles contained in
this Amendment are included for convenience only, shall be without substantive meaning or content of any kind whatsoever, and are not a part of the agreement between the Administrative Agent and the Required Lenders, on the one hand, and the
Borrower and Holdings on the other hand. Any reference in this Amendment to any “Section” refers, unless the context otherwise indicates, to a section of this Amendment. 

(f) Termination. Notwithstanding anything to the contrary in this Amendment, the Sixth Amendment Term Commitments established hereby
shall automatically terminate on February 23, 2017 to the extent the Sixth Amendment Effective Date and the funding of the Sixth Amendment Term Loans shall have not occurred on or prior to such date. 

[Remainder of Page Intentionally Left Blank; Signature Pages Follow]

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