Document:

Amended & Restated 2002 Equity Incentive Plan

 Exhibit 10.1 
 GTC BIOTHERAPEUTICS, INC. 
 AMENDED AND RESTATED 2002 EQUITY INCENTIVE PLAN 
  

	1.	Purpose. 

 The purpose of the 2002 Equity
Incentive Plan as amended and restated (the “Plan”) of GTC Biotherapeutics, Inc. (f/k/a Genzyme Transgenics Corporation) is to attract, retain and motivate persons who are expected to make important contributions to the Company and
its Affiliates, to provide an incentive for them to achieve performance goals, and to enable them to participate in the growth of the Company by granting Awards with respect to the Company’s Common Stock. Certain capitalized terms are used
herein as defined in Section 9 below. 
  

	2.	Administration. 

 The Plan shall be
administered by the Committee; provided that the Board may (subject to any regulatory or exchange listing requirements) in any instance perform any of the functions of the Committee hereunder. The Committee shall select the Participants to receive
Awards and, subject to the provisions of the Plan, shall determine the terms and conditions of the Awards. The Committee shall have authority to adopt, alter and repeal such administrative rules, guidelines and practices governing the operation of
the Plan as it shall from time to time consider advisable, to interpret the provisions of the Plan, and to remedy any inconsistencies or ambiguities. The Committee’s decisions shall be final and binding. To the extent permitted by applicable
law, the Committee may delegate to one or more executive officers of the Company the power to make Awards to Participants who are not Reporting Persons or Covered Employees and all determinations under the Plan with respect thereto, provided that
the Committee shall fix the maximum amount of such Awards for all such Participants, a maximum for any one Participant, and such other features of the Awards as may be required by applicable law. 
  

	3.	Eligibility. 

 All directors, employees and
consultants of the Company or any Affiliate capable of contributing to the successful performance of the Company are eligible to be Participants in the Plan. Incentive Stock Options may be granted only to persons eligible to receive such Options
under the Code. 
  

	4.	Stock Available for Awards. 

 (a)
Amount. Subject to adjustment under Section 4(b), Awards may be made under the Plan for up to Six Million Five Hundred Thousand (6,500,000) shares of Common Stock, plus (1) the number of additional shares of Common Stock
subject to awards under the Company’s Amended and Restated 1993 Equity Incentive Plan (the “1993 Plan”) which on or after April 2, 2004, expire or terminate unexercised or are forfeited or settled in a manner that results
in fewer shares outstanding than were awarded under the 1993 Plan, which number of additional shares will not exceed 2,178,388 shares (the maximum if all 1993 Plan shares become available), plus (2) an annual increment of additional shares to
be added on December 31 of each year (an “Increase Date”), beginning in 2008, equal to the lesser of (i) 1,500,000 shares or (ii) such other amount as may be determined by the Board; provided, however, that in no event shall
any such annual increment cause the total maximum aggregate number of shares of Common Stock which may be optioned and issued under the Plan to exceed the lesser of (a) 10% of the shares of Common Stock deemed to be outstanding on the
applicable Increase Date (including for this purpose on an as-converted basis all outstanding shares of capital stock then outstanding that are convertible into Common Stock) and (b) 15,000,000 shares (which number shall be subject to
adjustment under Section 4(b)); and provided further that no more than 10% of the maximum number of shares to be issued under the Plan may be granted as Restricted Stock or Unrestricted Stock Awards. For purposes of calculating such percentage
limitation on Restricted Stock and Unrestricted Stock Awards, the following Awards shall be disregarded: (i) any Award that is granted for consideration of at least 100% of the Fair Market Value of the Common Stock on the date of the respective
grant 

 
(including Awards granted in lieu of the payment of cash bonuses that would be consistent in amount with past cash bonus practices), and (ii) Awards
that are subject to performance-based vesting (including Awards subject to Section 8(k)). If any Award made under the Plan expires or terminates unexercised or is forfeited or settled in a manner that results in fewer shares outstanding than
were awarded, the shares subject to such Award, to the extent of such expiration, termination, forfeiture or decrease, shall again be available for award under the Plan. Common Stock issued outside of the Plan through the assumption or substitution
of outstanding grants from an acquired company shall not reduce the shares available for Awards under the Plan. Shares issued under the Plan may consist of authorized but unissued shares or treasury shares. 
 (b) Adjustment. In the event that the Committee determines that any stock dividend, extraordinary cash dividend, recapitalization,
reorganization, merger, consolidation, split-up, spin-off, combination, exchange of shares or other transaction affects the Common Stock such that an adjustment is required in order to preserve the benefits intended to be provided by the Plan, then
the Committee shall (subject in the case of Incentive Stock Options to any limitation required under the Code) equitably adjust any or all of (i) the number and kind of shares in respect of which Awards may be made under the Plan, (ii) the
number and kind of shares subject to outstanding Awards and (iii) the exercise price with respect to any of the foregoing, provided that the number of shares subject to any Award shall always be a whole number, and if considered appropriate,
the Committee may make provision for a cash payment with respect to an outstanding Award. 
 (c) Limit on Individual Grants.
The maximum number of shares of Common Stock that may be granted in connection with all Awards within any fiscal year to any one Covered Employee under the Plan shall not exceed 400,000 shares, except for grants to new hires during the fiscal year
of hiring which shall not exceed 600,000 shares, in each case subject to adjustment under Section 4(b). 
  

	5.	Stock Options. 

 (a) Grant of
Options. Subject to the provisions of the Plan, the Committee may grant options (“Options”) to purchase shares of Common Stock (i) complying with the requirements of Section 422 of the Code or any successor
provision and any regulations thereunder (“Incentive Stock Options”) or (ii) not intended to comply with such requirements (“Nonstatutory Stock Options”). The Committee shall determine the number of shares
subject to each Option and the exercise price therefor, which shall not be less than 100% of the Fair Market Value of the Common Stock on the date of grant; provided that a Nonstatutory Stock Option granted to a new employee or consultant in
connection with his or her hiring may have a lower exercise price so long as it is not less than 100% of Fair Market Value on the date he or she accepts the Company’s offer of employment or the date employment commences, whichever is lower. No
Option shall be an Incentive Stock Option if not granted within ten years from the date on which the Plan or an amendment thereto was last approved for purposes of Section 422 of the Code (the date of such approval being the date on which the
Plan or the respective amendment was approved by the Board or the stockholders, whichever was earlier). 
 (b) Terms and
Conditions. Subject to the provisions of the Plan, each Option shall be exercisable at such times and subject to such terms and conditions as the Committee may specify in the applicable grant or thereafter. The Committee may impose such
conditions with respect to the exercise of Options, including conditions relating to applicable securities laws, as it considers necessary or advisable. 
 (c) Payment. No shares shall be delivered upon exercise of any Option until payment in full of the exercise price therefor is received by the Company. Such payment may be made in whole or in part in cash
or, to the extent permitted by the Committee at or after the grant of the Option pursuant to any of the following methods: (i) by actual delivery or attestation of ownership of shares of Common Stock owned by the Participant, including vested
Restricted Stock, (ii) by retaining shares of Common Stock otherwise issuable pursuant to the Option, (iii) for consideration received by the Company under a broker-assisted cashless exercise program acceptable to the Company, or
(iv) for such other lawful consideration as the Committee may determine. 
 (d) Term of Option. The term of each Option
granted under this Section 5 shall not exceed ten years from the date the Option is granted. 

	6.	Stock Equivalents. 

 Subject to the
provisions of the Plan, the Committee may grant rights to receive payment from the Company based in whole or in part on the value of the Common Stock (“Stock Equivalents”) upon such terms and conditions as the Committee determines.
Stock Equivalents may include without limitation phantom stock, restricted stock units, unrestricted stock units, performance units, dividend equivalents and stock appreciation rights (“SARs”). SARs granted in tandem with an Option
will terminate to the extent that the related Option is exercised, and the related Option will terminate to the extent that the tandem SARs are exercised. An SAR will have an exercise price determined by or in the manner specified by the Committee
of not less than 100% of the Fair Market Value of the Common Stock on the date of the grant, or of not less than the exercise price of the related Option in the case of an SAR granted in tandem with an Option. The Committee will determine at the
time of grant or thereafter whether Stock Equivalents are to be settled in cash, Common Stock or other securities of the Company, Awards or other property. 
  

	7.	Stock Awards. 

 Subject to the provisions of
the Plan, the Committee may grant shares of Common Stock subject to forfeiture (“Restricted Stock”) and determine the duration of the period (the “Restricted Period”) during which, and the conditions under which,
the shares may be forfeited to the Company and the other terms and conditions of such Awards. Shares of Restricted Stock may not be sold, assigned, transferred, pledged or otherwise encumbered, except as permitted by the Committee, during the
Restricted Period. Shares of Restricted Stock shall be evidenced in such manner as the Committee may determine. Any certificates issued in respect of shares of Restricted Stock shall be registered in the name of the Participant and unless otherwise
determined by the Committee, deposited by the Participant, together with a stock power endorsed in blank, with the Company. At the expiration of the Restricted Period, the Company shall deliver such certificates to the Participant or if the
Participant has died, to the Participant’s Designated Beneficiary. Subject to the provisions of the Plan, the Committee also may make Awards of shares of Common Stock that are not subject to restrictions or forfeiture, on such terms and
conditions as the Committee may determine from time to time (“Unrestricted Stock”). 
  

	8.	General Provisions Applicable to Awards. 

 (a) Documentation. Each Award under the Plan shall be evidenced by a writing delivered to the Participant or agreement executed by the Participant specifying the terms and conditions thereof and containing such other
terms and conditions not inconsistent with the provisions of the Plan as the Committee considers necessary or advisable to achieve the purposes of the Plan or to comply with applicable tax and regulatory laws and accounting principles. Subject to
the provisions of the Plan, the terms of any Award may include such continuing restrictions and forfeiture and/or other penalty provisions relating to competition or other activity detrimental to the Company as the Committee determines. 

(b) Committee Discretion. Each type of Award may be made alone, in addition to or in relation to any other Award. The terms of
each type of Award need not be identical, and the Committee need not treat Participants uniformly. Except as otherwise provided by the Plan or a particular Award, any determination with respect to an Award may be made by the Committee at the time of
grant or at any time thereafter. 
 (c) Dividend, Cash Awards and Loans. Subject to the provisions of the Plan, in the
discretion of the Committee, any Award under the Plan may provide for (i) dividends or dividend equivalents payable (in cash or in the form of Awards under the Plan) currently or deferred with or without interest and (ii) cash payments in
lieu of or in addition to an Award or (iii) one or more loans to a Participant (other than a Participant who is a director or executive officer for purposes of Section 13(k) of the Exchange Act) to permit exercise of, or the payment of any
tax liability with respect to, any Award. 
 (d) Termination of Service. The Committee shall determine the effect on an
Award of the disability, death, retirement or other termination of employment or other service of a Participant and the extent to which, and the period during which, the Participant’s legal representative, guardian or Designated Beneficiary may
receive payment 

 
of an Award or exercise rights thereunder. Unless the Committee otherwise provides in any case, a Participant’s employment or other service shall have
terminated for purposes of this Plan at the time the entity by which the Participant is employed or to which he or she renders such service ceases to be an Affiliate of the Company. 
 (e) Change-in-Control. In order to preserve a Participant’s rights under an Award in the event of a change-in-control of the
Company (as defined by the Committee), the Committee in its discretion may, at the time an Award is made or at any time thereafter, take one or more of the following actions: (i) provide for the acceleration of any time period relating to the
exercise or payment of the Award, (ii) provide for payment to the Participant of cash or other property with a Fair Market Value equal to the amount that would have been received upon the exercise or payment of the Award had the Award been
exercised or paid upon the change-in-control, (iii) adjust the terms of the Award in a manner determined by the Committee to reflect the change-in-control, (iv) cause the Award to be assumed, or new rights substituted therefor, by another
entity, or (v) make such other provision as the Committee may consider equitable to Participants and in the best interests of the Company. 
 (f) Transferability. In the discretion of the Committee, any Award may be made transferable upon such terms and conditions and to such extent as the Committee determines, provided that Incentive Stock Options may be
transferable only to the extent permitted by the Code. The Committee may in its discretion waive any restriction on transferability. 
 (g)
Withholding Taxes. The Participant shall pay to the Company, or make provision satisfactory to the Committee for payment of, any taxes required by law to be withheld in respect of Awards under the Plan no later than the date of
the event creating the tax liability. The Company and its Affiliates may, to the extent permitted by law, deduct any such tax obligations from any payment of any kind due to the Participant hereunder or otherwise. In the Committee’s discretion,
the minimum tax obligations required by law to be withheld in respect of Awards may be paid in whole or in part in shares of Common Stock, including shares retained from the Award creating the tax obligation, valued at their Fair Market Value on the
date of retention or delivery. 
 (h) Foreign National Awards. Notwithstanding anything to the contrary contained in
this Plan, Awards may be made to Participants who are foreign nationals or employed or performing services outside the United States on such terms and conditions different from those specified in the Plan as the Committee considers necessary or
advisable to achieve the purposes of the Plan or to comply with applicable laws. 
 (i) Amendment of Award. Except as
provided in Section 8(j) and Section 8(l), the Committee may amend, modify, or terminate any outstanding Award, including substituting therefor another Award of the same or a different type, changing the date of exercise or realization and
converting an Incentive Stock Option to a Nonstatutory Stock Option. Any such action shall require the Participant’s consent unless: 
 (i) in the case of a termination of, or a reduction in the number of shares issuable under, an Option, any time period relating to the exercise of such Option or the eliminated portion, as the case may be, is waived or accelerated before
such termination or reduction (and in such case the Committee may provide for the Participant to receive cash or other property equal to the net value that would have been received upon exercise of the terminated Option or the eliminated portion, as
the case may be);
 (ii) the Committee determines that the action is permitted by the terms of Section 8(k); 
 (iii) the Committee determines that the action is reasonably necessary to comply with any regulatory, accounting, or exchange or stock market listing
requirement; or 
 (iv) in any other case, the Committee determines that the action, taking into account any related action, would not
materially and adversely affect the Participant. 
 (j) No Repricing of Options. Notwithstanding anything to the contrary in
the Plan, the Company shall not engage in any repricing of Options granted under this Plan without further stockholder approval. For this purpose, the term “repricing” shall mean any of the following or other action that has the same
effect: (i) lowering the 

 
exercise price of an Option after it is granted, (ii) any other action that is treated as a repricing under generally accepted accounting principles, or
(iii) canceling an Option at a time when its exercise price exceeds the fair market value of the underlying stock in exchange for another Option, Restricted Stock, or other equity of the Company, unless the cancellation and exchange occurs in
connection with a merger, acquisition, spin-off, or similar corporate transaction. 
 (k) Code Section 162(m) Provisions.
If the Committee determines at the time an Award is granted to a Participant that such Participant is, or may be as of the end of the tax year for which the Company would claim a tax deduction in connection with such Award, a Covered Employee, then
the Committee may provide that the Participant’s right to receive cash, shares of Common Stock, or other property pursuant to such Award shall be subject to the satisfaction of Performance Goals during a Performance Period. Prior to the payment
of any Award subject to this Section 8(k), the Committee shall certify in writing that the Performance Goals and other material terms applicable to such Award were satisfied. Notwithstanding the attainment of Performance Goals by a Covered
Employee, the Committee shall have the right to reduce (but not to increase) the amount payable at a given level of performance to take into account additional factors that the Committee may deem relevant. The Committee shall have the power to
impose such other restrictions on Awards subject to this Section 8(k) as it may deem necessary or appropriate to ensure that such Awards satisfy all requirements for “performance-based compensation” within the meaning of
Section 162(m) of the Code. 
 (l) Minimum Vesting Requirements. Each Award under the Plan shall vest in accordance with a
schedule which does not permit more than one-third of each such Award to vest on each of the three succeeding anniversaries of the date of grant of the Award. This minimum vesting requirement shall not, however, preclude the Committee from
exercising its discretion to (i) accelerate the vesting of any Award upon retirement, termination of employment by the Company, death, or disability, (ii) accelerate the vesting of an Award in accordance with Section 8(e),
(iii) establish a shorter vesting schedule for consultants, directors, or newly-hired employees, (iv) establish a shorter vesting schedule for Awards that are granted in exchange for or in lieu of the right to receive the payment of an
equivalent amount of salary, bonus, or other cash compensation, (v) establish a shorter performance-based vesting schedule, including a schedule in accordance with Section 8(k). or (vi) grant Awards of Unrestricted Stock in accordance
with Section 7. 
  

	9.	Certain Definitions. 

 “Affiliate” means any business entity in which the Company owns directly or indirectly 50% or more of the total voting power or has another significant financial interest as determined by the Committee. 
 “Award” means any Option, Stock Equivalent, Restricted Stock, Unrestricted Stock, or Foreign National Award granted under the Plan.

 “Board” means the Board of Directors of the Company. 
 “Code” means the Internal Revenue Code of 1986, as amended from time to time, or any successor law. 
 “Committee” means any committee of one or more directors appointed by the Board to administer the Plan or a specified portion thereof.
Unless otherwise determined by the Board, if a Committee is authorized to grant Awards to a Reporting Person or a Covered Employee it shall be comprised of not less than two directors, each of whom shall be a “non-employee director” within
the meaning of Rule 16b-3 under the Exchange Act or an “outside director” within the meaning of Section 162(m) of the Code, respectively. 
 “Common Stock” or “Stock” means the Common Stock, $0.01 par value, of the Company. 
 “Company” means GTC Biotherapeutics, Inc., a Massachusetts corporation and, unless the context otherwise requires, includes each “subsidiary corporation” of GTC Biotherapeutics, Inc., as
defined in Section 424(f) of the Code, from time to time. 

 “Covered Employee” means, at any time that Section 162(m) of the Code applies to
the Company, a “covered employee” within the meaning of such section. 
 “Designated Beneficiary” means the
beneficiary designated by a Participant, in a manner determined by the Committee, to receive amounts due or exercise rights of the Participant in the event of the Participant’s death. In the absence of an effective designation by a Participant,
“Designated Beneficiary” means the Participant’s estate. 
 “Exchange Act” means the Securities Exchange Act
of 1934, as amended from time to time, or any successor law. 
 “Fair Market Value” means, with respect to Common Stock or
any other property, the fair market value of such property as determined by the Committee in good faith or in the manner established by the Committee from time to time. 
 “Non-Employee Director” means a director of the Company who is not an employee of the Company or of any subsidiary of the Company. 
 “Participant” means a person selected by the Committee to receive an Award under the Plan. 
 “Performance Goals” means with respect to any Performance Period, one or more objective performance goals based on one or more of the
following objective criteria established by the Committee prior to the beginning of such Performance Period or within such period after the beginning of the Performance Period as shall meet the requirements to be considered “pre-established
performance goals” for purposes of Code Section 162(m): (i) increases in the price of the Common Stock, (ii) product or service sales or market share, (iii) revenues, (iv) return on equity, assets, or capital,
(v) economic profit (economic value added), (vi) total shareholder return, (vii) costs, (viii) expenses, (ix) margins, (x) earnings or earnings per share, (xi) cash flow, (xii) cash balances
(xiii) customer satisfaction, (xiv) operating profit, (xv) research and development progress, (xvi) clinical trial progress, (xvii) licensing, (xviii) product development, (xix) manufacturing, or (xx) any
combination of the foregoing, including without limitation, goals based on any of such measures relative to appropriate peer groups or market indices. Such Performance Goals may be particular to a Participant or may be based, in whole or in part, on
the performance of the division, department, line of business, subsidiary, or other business unit, whether or not legally constituted, in which the Participant works or on the performance of the Company generally. 
 “Performance Period” means the period of service designated by the Committee applicable to an Award subject to Section 8(k) during
which the Performance Goals will be measured. 
 “Reporting Person” means a person subject to Section 16 of the
Exchange Act. 
  

	10.	Miscellaneous. 

 (a) No Right to
Employment. No person shall have any claim or right to be granted an Award. Neither the adoption, maintenance, nor operation of the Plan nor any Award hereunder shall confer upon any employee or consultant of the Company or of any
Affiliate any right with respect to the continuance of his/ her employment by or other service with the Company or any such Affiliate nor shall they interfere with the rights of the Company or Affiliate to terminate any employee at any time or
otherwise change the terms of employment, including, without limitation, the right to promote, demote or otherwise re-assign any employee from one position to another within the Company or any Affiliate. 
 (b) No Rights as Stockholder. Subject to the provisions of the applicable Award, no Participant or Designated Beneficiary shall have
any rights as a stockholder with respect to any shares of Common Stock to be issued under the Plan until he or she becomes the holder thereof. A Participant to whom Common Stock is awarded shall be considered a stockholder of the Company at the time
of the Award except as otherwise provided in the applicable Award. 

 (c) Amendment of Plan. Subject to Section 8(j) and Section 8(l), the Board
may amend, suspend, or terminate the Plan or any portion thereof at any time, subject to such stockholder approval as the Board determines to be necessary or advisable. 
 (d) Governing Law. The provisions of the Plan shall be governed by and interpreted in accordance with the laws of the Commonwealth of Massachusetts. 
 (e) Effective Date and Term of Plan. The Plan has been approved most recently by the stockholders of the Company on May 23, 2007. This
amendment and restatement of the Plan shall be effective on the date it is approved by the stockholders of the Company. Unless earlier terminated by the Board, or extended by approval of the stockholders, the term of the Plan shall expire on the
tenth anniversary of the effective date of the most recent stockholder approval for purposes of Section 422 of the Code and the regulations thereunder, and no further Awards hereunder shall be made thereafter.Exhibit 10.28

 Exhibit 10.28 
 EXECUTION VERSION 
 FIFTH AMENDMENT, dated as of May 23, 2007 (this
“Amendment”), to the AMENDED AND RESTATED CREDIT AGREEMENT, dated as of April 28, 2005 (as amended, supplemented or otherwise modified prior to the date hereof, the “Credit Agreement”), among EDUCATE OPERATING
COMPANY, LLC, a Delaware limited liability company (the “Borrower”), the several banks and other financial institutions or entities from time to time parties thereto (the “Lenders”), MERRILL LYNCH CAPITAL, a
division of Merrill Lynch Business Financial Services Inc., as documentation agent (the “Documentation Agent”), and JPMORGAN CHASE BANK, N.A. as administrative agent (the “Administrative Agent”). 
 WITNESSETH: 
 WHEREAS, pursuant to the Credit
Agreement, the Lenders have extended term loans and made available revolving credit commitments to the Borrower on the terms set forth in the Credit Agreement; 
 WHEREAS, the Lenders have previously agreed to a waiver of compliance with the financial covenants of the Credit Agreement until May 31, 2007; 
 WHEREAS, the Borrower has requested that the Lenders extend the waiver of compliance with the financial covenants of the Credit Agreement until
June 29, 2007; and 
 WHEREAS, the Lenders have consented to such waiver but only on the terms and conditions contained herein;

 NOW, THEREFORE, the parties hereto hereby agree as follows: 
  

	SECTION	1. DEFINITIONS. 

 1.1 Defined Terms. Terms
defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement. 
  

	SECTION	2. AMENDMENTS TO SECTION 1. 

 2.1 Amendments to
Section 1 (Definitions). Section 1.1 of the Credit Agreement is hereby amended as follows: 
 (a) by inserting the following
definition in appropriate alphabetical order: 
 “Fifth Amendment”: the Fifth Amendment, dated as of May 23, 2007, to
this Agreement.; and 
 (b) by inserting the following definition in appropriate alphabetical order: 
 “Fifth Amendment Effective Date”: as defined in the Fifth Amendment. 

	SECTION	3. WAIVER. 

 3.1 Waiver. The Lenders hereby
waive solely for the period from June 1, 2007 and until June 29, 2007 (the “Waiver Period”) (A) compliance by the Borrower with the covenants contained in Sections 7.1(a), (b) and (c) of the Credit Agreement
for the last day of, and for the period of four consecutive fiscal quarters ending with, the fiscal quarter of the Borrower ended December 31, 2006 and ended March 31, 2007, respectively and (B) any Default or Event of Default arising
out of any non-compliance by the Borrower therewith or any breach by the Borrower of any representation or warranty made by it to the extent such breach would not have occurred but for such non-compliance. 
  

	SECTION	4. MISCELLANEOUS. 

 4.1 Conditions to Effectiveness.
This Amendment shall become effective on the date (the “Fifth Amendment Effective Date”) on which the Administrative Agent shall have received (a) this Amendment, executed and delivered by a duly authorized officer of the
Borrower and the Required Lenders and (b) an Acknowledgement and Consent in the form of Exhibit A attached hereto executed and delivered by each Loan Party other than the Borrower. 
 4.2 Representation and Warranties. After giving effect to the waiver contained herein, on the Fifth Amendment Effective Date, the Borrower hereby
confirms that the representations and warranties set forth in Section 4 of the Credit Agreement are true and correct in all material respects; provided that each reference in such Section 4 to “this Agreement” shall be
deemed to include this Amendment and the Credit Agreement, as modified by this Amendment. 
 4.3 Continuing Effect; No Other Waivers or
Amendments. This Amendment shall not constitute an amendment or waiver of or consent to any provision of the Credit Agreement and the other Loan Documents not expressly referred to herein and shall not be construed as an amendment, waiver or
consent to any action on the part of the Borrower that would require an amendment, waiver or consent of the Administrative Agent or the Lenders except as expressly stated herein. Except as expressly amended hereby, the provisions of the Credit
Agreement and the other Loan Documents are and shall remain in full force and effect in accordance with their terms. 
 4.4 No
Default. No Default or Event of Default shall have occurred and be continuing as of the Fifth Amendment Effective Date after giving effect to this Amendment. 
 4.5 Counterparts. This Amendment may be executed in any number of separate counterparts by the parties hereto (including by telecopy), each of which counterparts when so executed shall be an original, but all
the counterparts shall together constitute one and the same instrument. 
 4.6 Payment of Fees and Expenses. The Borrower agrees to
pay or reimburse the Administrative Agent for all of its reasonable out-of-pocket costs and reasonable expenses incurred in connection with this Amendment, any other documents prepared in connection herewith and the transactions contemplated hereby,
including, without limitation, the reasonable fees and disbursements of counsel to the Administrative Agent. 
 4.7 GOVERNING LAW.
THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 

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

			
	 EDUCATE OPERATING COMPANY, LLC

		
	 By:
	 	 /s/ Kevin E. Shaffer

	 Name:
	 	Kevin E. Shaffer
	 Title:
	 	VP, Treasurer and Asst. Secretary

  

			
	 JPMORGAN CHASE BANK, N.A.,

	 as Administrative Agent and as a Lender

		
	 By:
	 	 /s/ Kathryn A. Duncan

	 Name:
	 	Kathryn A. Duncan
	 Title:
	 	Managing Director

  

			
	 MERRILL LYNCH CAPITAL,

	 a division of Merrill Lynch Business Financial Services Inc.,
 as Documentation Agent and as a Lender

		
	 By:
	 	 /s/ Kelli O’Connell

	 Name:
	 	Kelli O’Connell
	 Title:
	 	Vice President

  

			
	 Toronto Dominion (New York), LLC, as a Lender

		
	 By:
	 	 /s/ Bebi Yasin

	 Name:
	 	Bebi Yasin
	 Title:
	 	Authorized Signatory

  

			
	 Morgan Stanley Prime Income Trust, as a Lender

		
	 By:
	 	 /s/ Jinny K. Kim

	 Name:
	 	Jinny Kim
	 Title:
	 	Executive Director

  

			
	 Qualcomm Global Trading, Inc.

		
	 By:
	 	Morgan Stanley Investment Management as Investment Manager, as a Lender
		
	 By:
	 	 /s/ Jinny K. Kim

	 Name:
	 	Jinny Kim
	 Title:
	 	Executive Director

  

			
	 MSIM Croton Ltd., as a Lender

		
	 By:
	 	Morgan Stanley Investment Management as Collateral Manager
		
	 By:
	 	 /s/ Jinny K. Kim

	 Name:
	 	Jinny Kim
	 Title:
	 	Executive Director

			
	 Confluent 3 Limited, as a Lender

		
	 By:
	 	Morgan Stanley Investment Management, Inc. as Investment Manager
		
	 By:
	 	 /s/ Jinny K. Kim

	 Name:
	 	Jinny Kim
	 Title:
	 	Executive Director

  

			
	 Zodiac Fund – Morgan Stanley US Senior Loan Fund, as a Lender

		
	 By:
	 	Morgan Stanley Investment Management, Inc. as Investment Adviser
		
	 By:
	 	 /s/ Jinny K. Kim

	 Name:
	 	Jinny Kim
	 Title:
	 	Executive Director

  

			
	 MSIM Peconic Bay, Ltd., as a Lender

		
	 By:
	 	Morgan Stanley Investment Management, Inc. as Interim Collateral Manager
		
	 By:
	 	 /s/ Jinny K. Kim

	 Name:
	 	Jinny Kim
	 Title:
	 	Executive Director

  

			
	 The Governor and Company of the Bank of Ireland, as a Lender

		
	 By:
	 	 /s/ Paul Clarke

	 Name:
	 	Paul Clarke
	 Title:
	 	Director
		
	 By:
	 	 /s/ Louise O’Connor

	 Name:
	 	Louise O’Connor
	 Title:
	 	Vice President

  

			
	 Atlas Loan Funding 1, LLC, as a Lender

		
	 By:
	 	Atlas Capital Funding, Ltd.
		
	 By:
	 	Structured Asset Investors, LLC
		 	its Investment Manager
		
	 By:
	 	 /s/ Diana M. Himes

	 Name:
	 	Diana M. Himes
	 Title:
	 	Vice President

  

			
	 Atlas Loan Funding 2, LLC, as a Lender

		
	 By:
	 	Atlas Capital Funding, Ltd.
		
	 By:
	 	Structured Asset Investors, LLC its Investment Manager
		
	 By:
	 	 /s/ Diana M. Himes

	 Name:
	 	Diana M. Himes
	 Title:
	 	Vice President

			
	WB Loan Funding 4, LLC, as a Lender
		
	By:	 	 /s/ Diana M. Himes

	Name:	 	Diana M. Himes
	Title:	 	Vice President

  

			
	General Electric Capital Corporation, as a Lender
		
	By:	 	 /s/ Martin J. Mahoney

	Name:	 	Martin J. Mahoney
	Title:	 	Duly Authorized Signatory

  

			
	Antares Capital Corporation, as a Lender
		
	By:	 	 /s/ Martin J. Mahoney

	Name:	 	Martin J. Mahoney
	Title:	 	Duly Authorized Signatory

  

			
	General Electric Capital Corporation, as
	Administrator for, Merritt CLO Holding LLC, as a Lender
		
	By:	 	 /s/ Robert M. Kadlick

	Name:	 	Robert M. Kadlick
	Title:	 	Duly Authorized Signatory

  

			
	Navigator CDO 2004, LTD., as a Lender
		
	By:	 	Antares Asset Management, Inc., as Collateral Manager
		
	By:	 	 /s/ John Campos

	Name:	 	John Campos
	Title:	 	Authorized Signatory

  

			
	BABSON CLO LTD 2005-I
	
	 BABSON CREDIT STRATEGIES CLO, LTD.
 SUFFIELD CLO, LIMITED, as Lenders

		
	By:	 	Babson Capital Management LLC as Collateral Manager
		
	By:	 	 /s/ Dongbing Hu

	Name:	 	Dongbing Hu
	Title:	 	Associate Director

			
	 BILL & MELINDA GATES FOUNDATION TRUST,
 as a Lender

		
	By:	 	Babson Capital Management LLC as Investment Adviser
		
	By:	 	 /s/ Dongbing Hu

	Name:	 	Dongbing Hu
	Title:	 	Associate Director

  

			
	MASSACHUSETTS MUTUAL LIFE
	INSURANCE COMPANY, as a Lender
		
	By:	 	Babson Capital Management LLC as Investment Adviser
		
	By:	 	 /s/ Dongbing Hu

	Name:	 	Dongbing Hu
	Title:	 	Associate Director

  

			
	HAKONE FUND LLC, as a Lender
		
	By:	 	Babson Capital Management LLC as Investment Manager
		
	By:	 	 /s/ Dongbing Hu

	Name:	 	Dongbing Hu
	Title:	 	Associate Director

  

			
	ING Capital LLC, as a Lender
		
	By:	 	 /s/ Khursheed Sorabjee

	Name:	 	Khursheed Sorabjee
	Title:	 	Vice President

  

			
	Bank of America, NA., as a Lender
		
	By:	 	 /s/ Mary K. Giermek

	Name:	 	Mary K. Giermek
	Title:	 	Senior Vice President

  

			
	 CIT LENDING SERVICES CORPORATION,
 as a
Lender

		
	By:	 	 /s/ David Manheim

	Name:	 	David Manheim
	Title:	 	Vice President

  

			
	Van Kampen Senior Loan Fund, as a Lender
		
	By:	 	Van Kampen Asset Management
		
	By:	 	 /s/ Robert P. Drobny

	Name:	 	Robert P. Drobny
	Title:	 	Vice President

			
	 Van Kampen Senior Income Trust, as a Lender

		
	 By:
	 	Van Kampen Asset Management
		
	 By:
	 	 /s/ Robert P. Drobny

	 Name:
	 	Robert P. Drobny
	 Title:
	 	Vice President

  

			
	Denali Capital LLC, managing member of DC Funding Partners LLC, portfolio manager for DENALI CAPITAL CLO III, LTD., or an affiliate, as a Lender
		
	 By:
	 	 /s/ John P. Thacker

	 Name:
	 	John P. Thacker
	 Title:
	 	Chief Credit Officer

  

			
	Denali Capital LLC, managing member of DC Funding Partners LLC, portfolio manager for DENALI CAPITAL CLO VI, LTD., or an affiliate, as a Lender
		
	 By:
	 	 /s/ John P. Thacker

	 Name:
	 	John P. Thacker
	 Title:
	 	Chief Credit Officer

  

			
	 Allied Irish Banks PLC, as a Lender

		
	 By:
	 	 /s/ Joanne Gibson

	 Name:
	 	Joanne Gibson
	 Title:
	 	Assistant Vice President
		
	 By:
	 	 /s/ Norbert Galligan

	 Name:
	 	Norbert Galligan
	 Title:
	 	Vice President

  

			
	 AIB Debt Management Ltd, as a Lender

		
	 By:
	 	 /s/ Joanne Gibson

	 Name:
	 	Joanne Gibson
	 Title:
	 	Assistant Vice President
		 	Investment Advisor to AIB Debt Management, Limited

  

			
	 By:
	 	 /s/ Norbert Galligan

	 Name:
	 	Norbert Galligan
	 Title:
	 	Vice President
		 	Investment Advisor to Debt Management, Limited

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00124-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00124-of-00352.parquet"}]]