Document:

Exhibit 10.2

   

  PAR TECHNOLOGY CORPORATION

    REPURCHASE AGREEMENT

   

  [●], 2020

   

  [           ] (the “Undersigned”), for itself and on behalf of the beneficial owners listed on Exhibit A hereto (the “Accounts”) for
    whom the Undersigned holds contractual and investment authority (each Account, as well as the Undersigned if it is selling Existing Notes (as defined below) referred to hereunder as, a “Holder”), enters into this Repurchase Agreement (this “Agreement”)

    with PAR Technology Corporation, a Delaware corporation (the “Company”), as of the date first written above, whereby the Holders will exchange the Existing Notes (as defined below) for a combination of shares of the Company’s common stock, par
    value $0.02 per share (“Repurchase Shares”), and cash (the “Repurchase Cash” and, together with Repurchase Shares, the “Repurchase Consideration”), as set forth on Exhibit A hereto.

   

  On and subject to the terms hereof, the parties hereto agree as follows:

   

  Article I

      

      Repurchase

   

  Section 1.1         Repurchase. On and subject to the terms set forth in this Agreement, at the Closing (as defined herein), the Undersigned hereby agrees to cause each Holder to deliver to the Company the aggregate
      principal amount of the Company’s outstanding 4.500% Senior Convertible Notes due 2024 (such principal amount of notes, the “Existing Notes”) specified for such Holder on Exhibit A under the heading “Repurchased Notes” in exchange for,
      and the Company hereby agrees to issue to such Holder, the Repurchase Consideration specified for such Holder on Exhibit A under the heading “Repurchase Consideration,” plus an amount in cash equal to the accrued and unpaid interest in
      respect of such Holder’s Repurchased Notes (as defined herein) from, and including, the most recent date on which interest thereon was paid, to the date of Closing, as set forth on Exhibit A (“Accrued Interest”). The Existing Notes
      delivered to the Company pursuant to the terms of this Agreement in exchange for the Repurchase Consideration are referred to herein as the “Repurchased Notes.” The transactions contemplated by this Agreement, including the issuance, delivery
      and acceptance of the Repurchase Consideration and the exchange and sale of the Repurchased Notes are collectively referred to herein as the “Transactions.”

   

  Section 1.2         Closing. Subject to the satisfaction (or waiver by the applicable parties) of the conditions set forth in Section 4.1 below, the closing of the Transactions (the “Closing”) will take place
      remotely via the exchange of documents and signatures on [●], 2020 or at such time and place as the Company and the parties may agree in writing (the “Closing Date”).

   

  At the Closing, (a) each Holder shall deliver or cause to be delivered to the Company all right, title and interest in and to its Repurchased Notes as specified on Exhibit

      A hereto, free and clear of any mortgage, lien, pledge, charge, security interest, encumbrance, title retention agreement, option, equity or other adverse claim thereto (collectively, “Liens”), together with

  
    
      
 

  

  
  any documents of conveyance or transfer that the Company may deem necessary or desirable to transfer to and confirm in the Company all right, title and interest in and
    to the Repurchased Notes, free and clear of any Liens (no later than 12:00 noon New York City time on the day of Closing), and (b) (i) the Company shall deliver or cause to be delivered to each Holder the Repurchase Cash and the Accrued Interest
    specified for such Holder on Exhibit A hereto, as specified on, and pursuant to the wire instructions provided by each Holder on, Exhibit B hereto, and (ii) the Company shall deliver to each Holder the number of Repurchase Shares
    specified for such Holder on Exhibit A hereto, as specified on, and pursuant to the delivery instructions provided by each Holder on, Exhibit B hereto; provided, that the parties acknowledge that the delivery of the Repurchase
    Shares may be delayed due to procedures and mechanics within the system of The Depository Trust Company (“DTC”) or the New York Stock Exchange (the “NYSE”) (including the procedures and mechanics regarding the listing of the Repurchase
    Shares on such exchange) or other events beyond the Company’s control and that such delay will not be a default under this Agreement so long as the Company is using its reasonable best efforts to effect the issuance of the Repurchase Shares.

   

  For the avoidance of doubt, in the event of any delay in the Closing as described above, the Holders shall not be required to deliver the Repurchased Notes until the
    Closing occurs. The Company may at any time (whether before, simultaneously with or after the Closing) deliver Repurchase Consideration to one or more other holders of Existing Notes or to other investors (any such issuances pursuant to agreements
    dated as of the date hereof, the “Aggregated Transactions”). The delivery and cancellation of the Repurchased Notes shall be effected through one-sided Deposit/Withdrawal at Custodian (DWAC) withdrawal instructions arranged by, and entered on
    behalf of, the Holders to DTC.

    

  Article II

      

      Covenants, Representations and Warranties of the Holders

   

  Each Holder (and, where specified below, the Undersigned) hereby covenants as follows, and makes the following representations and warranties, each of which is and
    shall be true and correct on the date hereof and at the Closing, to the Company and Jefferies LLC (the “Repurchase Agent”), and all such covenants, representations and warranties shall survive the Closing.

   

  Section 2.1         Power and Authorization. Each of the Undersigned and each Holder is duly organized, validly existing and in good standing under the laws of its jurisdiction of formation, and the Undersigned has the
      power, authority and capacity to execute and deliver this Agreement, to perform its obligations hereunder, and to consummate the Transactions. If the Undersigned is executing this Agreement on behalf of Accounts, (a) the Undersigned has all requisite
      discretionary and contractual authority to enter into this Agreement on behalf of, and bind, each Account, and (b) Exhibit A hereto is a true, correct and complete list of (i) the name of each Account, (ii) the principal amount of such
      Account’s Existing Notes and (iii) the number of Repurchase Shares to be issued to such Holder and the amount of Repurchase Cash to be delivered to such Holder in respect of its Repurchased Notes.  

  
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  Section 2.2         Valid and Enforceable Agreement; No Violations. This Agreement has been duly executed and delivered by the Undersigned and constitutes a legal, valid and binding obligation of the Undersigned,
      enforceable against the Undersigned in accordance with its terms, except that such enforcement may be subject to (a) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting or relating to enforcement of
      creditors’ rights generally, and (b) general principles of equity, whether such enforceability is considered in a proceeding at law or in equity (the “Enforceability Exceptions”). This Agreement and consummation of the Transactions will not
      violate, conflict with or result in a breach of or default under (i) the Undersigned or the applicable Holder’s organizational documents (or any similar documents governing each Account), (ii) any agreement or instrument to which the Undersigned or
      the applicable Holder is a party or by which the Undersigned or the applicable Holder or any of their respective assets are bound, or (iii) any laws, regulations or governmental or judicial decrees, injunctions or orders applicable to the Undersigned
      or the applicable Holder. No consent, approval, authorization, order, registration or qualification of or with any court or arbitrator or governmental or regulatory authority is required for the execution, delivery and performance by the Holders of
      this Agreement and the consummation of the Transactions.

   

  Section 2.3         Title to the Repurchased Notes. (a) Each Holder is the sole legal and beneficial owner of the Repurchased Notes (including any Accrued Interest) set forth opposite its name on Exhibit A
      hereto; (b) each Holder has good, valid and marketable title to its Repurchased Notes, free and clear of any Liens (other than pledges or security interests that such Holder may have created in favor of a prime broker under and in accordance with its
      prime brokerage agreement with such broker); (c) no Holder has, in whole or in part, except as described in the preceding clause (b), (i) assigned, transferred, hypothecated, pledged, exchanged or otherwise disposed of any of its Repurchased Notes or
      its rights, title or interest in or to its Repurchased Notes or (ii) given any person or entity (other than the Undersigned) any transfer order, power of attorney or other authority of any nature whatsoever with respect to its Repurchased Notes; and
      (d) upon each Holder’s delivery of its Repurchased Notes to the Company pursuant to the Transactions, such Repurchased Notes shall be free and clear of all Liens.

   

  Section 2.4         Qualified Institutional Buyer. Each Holder is (i) a “qualified institutional buyer” within the meaning of Rule 144A promulgated under the Securities Act, and (ii) an “Institutional Account” as
      defined in FINRA Rule 4512(c).

   

  Section 2.5         Full Satisfaction of Obligations under the Notes. Each Holder acknowledges that upon issuance of the Repurchase Consideration, the obligations of the Company to the Holder under the Repurchased Notes
      will have been satisfied in full.

   

  Section 2.6         No Affiliates; Beneficial Ownership. No Holder is, or has been at any time during the consecutive three-month period preceding the date hereof, a director, officer or “affiliate” within the meaning
      of Rule 144 promulgated under the Securities Act (an “Affiliate”) of the Company. To each Holder’s knowledge, such Holder did not acquire any of the Repurchased Notes, directly or indirectly, from an Affiliate of the Company. No Holder is the

  
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  beneficial owner of five percent (5%) or more of the Company’s common stock, par value $0.02 per share (as determined in accordance with Rule 13d-3 under the
    Securities Exchange Act of 1934, as amended (the “Exchange Act”)).

    

  Section 2.7         No Illegal Transactions. Each of the Undersigned and each Holder has not, directly or indirectly, and no person acting on behalf of or pursuant to any understanding with it has, disclosed to a third
      party any information regarding the Transactions nor engaged in any transactions in the securities of the Company (including, without limitation, any Short Sales (as defined below) involving any of the Company’s securities) since the time that the
      Undersigned was first contacted by either the Company, the Repurchase Agent or any other person regarding the Aggregated Transactions, this Agreement or an investment in the Repurchase Shares or the Company. Each of the Undersigned and the Holder
      covenants that neither it nor any person acting on its behalf or pursuant to any understanding with it shall disclose to a third party any information regarding the Transactions or engage, directly or indirectly, in any transactions in the securities
      of the Company (including Short Sales) prior to the time the Aggregated Transactions are publicly disclosed by the Company. “Short Sales” include all “short sales” as defined in Rule 200 of Regulation SHO promulgated under the Exchange Act,
      and all types of direct and indirect stock pledges, forward sale contracts, options, puts, calls, short sales, swaps, derivatives and similar arrangements (including on a total return basis), and sales and other transactions through non-U.S.
      broker-dealers or foreign regulated brokers. Solely for purposes of this Section 2.7, subject to the Undersigned’s and each Holder’s compliance with their respective obligations under the U.S. federal securities laws and the Undersigned’s and
      such Holder’s respective internal policies, (a) “Undersigned” and “Holder” shall not be deemed to include any employees, subsidiaries, desks, groups or Affiliates of the Undersigned or the applicable Holder that are effectively walled off by
      appropriate “Fire Wall” information barriers approved by the Undersigned’s or such Holder’s respective legal or compliance department (and thus such walled off parties have not been privy to any information concerning the Aggregated Transactions),
      and (b) the foregoing representations and covenants of this Section 2.7 shall not apply to any transaction by or on behalf of an Account that was effected without the advice or participation of, or such Account’s receipt of information
      regarding the Aggregated Transactions provided by, the Undersigned or the applicable Holder.

   

  Section 2.8         Adequate Information; No Reliance. The Undersigned is a registered investment adviser with the Securities and Exchange Commission (the “SEC”) acting on behalf of one or more Holders who are
      its investment advisory clients. The Undersigned acknowledges and agrees on behalf of itself and each Holder that (a) the Undersigned has been furnished with all materials it considers relevant to making an investment decision to enter into the
      Transactions and has had the opportunity to review the Company’s filings and submissions with the SEC, including, without limitation, all information filed or furnished pursuant to the Exchange Act, (b) the Undersigned has had a full opportunity to
      ask questions of the Company concerning the Company, its business, operations, financial performance, financial condition and prospects and the terms and conditions of the Transactions, (c) the Undersigned and each Holder has had the opportunity to
      consult with their respective accounting, tax, financial and legal advisors to be able to evaluate the risks involved in the Transactions and to make an informed investment decision with respect to such Transactions, (d) each Holder has evaluated

  
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  the tax and other consequences of the Transactions and ownership of the Repurchase Shares with its tax, accounting or legal advisors, (e) neither the Company
    nor the Repurchase Agent is acting as a fiduciary or financial or investment advisor to the Undersigned or any Holder, (f) neither the Undersigned nor any Holder is relying, and none of them has relied, upon any statement, advice (whether accounting,
    tax, financial, legal or other), representation or warranty made by the Company or any of its Affiliates or representatives including, without limitation, the Repurchase Agent, except for (i) the publicly available filings and submissions made by the
    Company with the SEC under the Exchange Act and (ii) the representations and warranties made by the Company in this Agreement and (g) none of the Repurchase Agent, any of its affiliates or any of its control persons, officers, directors or employees
    shall be liable to the Holders in connection with the Transactions. Each of the Undersigned and each Holder is able to fend for itself in the Transactions; has such knowledge and experience in financial and business matters as to be capable of
    evaluating the merits and risks of its prospective investment in the Repurchase Shares; has the ability to bear the economic risks of its prospective investment and can afford the complete loss of such investment; and acknowledges that investment in
    the Repurchase Shares involves a high degree of risk.

    

  Section 2.9         Stockholder Representations Letter. The Undersigned agrees that it shall obtain from each Holder and deliver to the Company a Stockholder Representations Letter executed by each Holder substantially
      in the form attached hereto as Exhibit C.

   

  Section 2.10     Rule 144 Treatment. The Company confirms that the Repurchase Shares shall be issued through the facilities of DTC and, accordingly, shall be free of any restrictive legend pertaining to transfers
      pursuant to the Securities Act. The Undersigned, on behalf of itself and each Holder, agrees and acknowledges that if, at any time prior to April 15, 2020, the Company notifies the Undersigned that the Repurchase Shares are no longer eligible for
      sale by non-affiliates of the Company pursuant to Rule 144 of the Securities Act of 1933, as amended (the “Securities Act”), the Undersigned on behalf of each Holder will submit the shares to the Company for re-issuance with a restrictive
      legend pertaining to transfers pursuant to the Securities Act.

   

  Section 2.11     Taxpayer Information. The Undersigned agrees that it shall obtain from each Holder and deliver to the Company a complete and accurate IRS Form W-9 or IRS Form W-8BEN, W-8BEN-E or W-8ECI, as
      appropriate.

   

  Section 2.12     Further Action. The Holder agrees that it shall, upon request, execute and deliver any additional documents deemed by the Company to be necessary or desirable to complete the Transactions.

   

  Section 2.13     No Reliance. Each of the Undersigned and each Holder represents that it is not relying upon, and has not relied upon, any statement, representation or warranty made by Jefferies LLC, any of its
      affiliates or any of its or their control persons, officers, director or employees, in making the exchange of the Repurchased Notes or decision to exchange the Repurchased Notes.

  
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  Section 2.14     No Liability. Each of the Undersigned and each Holder represents that none of Jefferies LLC, any of its affiliates or any of its or their control persons, officers, directors or employees shall be
      liable with respect to any transaction in connection with its exchange of the Repurchased Notes.

   

  Article III

      

      Covenants, Representations and Warranties of the Company

   

  The Company hereby covenants as follows, and makes the following representations and warranties, each of which is and shall be true and correct on the date hereof
    and at the Closing, to the Holders and the Repurchase Agent:

   

  Section 3.1         Power and Authorization. The Company is duly organized, validly existing and in good standing under the laws of its jurisdiction of incorporation, and has the power, authority and capacity to execute
      and deliver this Agreement, to perform its obligations hereunder, and to consummate the Transactions. No consent, approval, order or authorization of, or registration, declaration or filing with any governmental entity is required on the part of the
      Company in connection with the execution, delivery and performance by it of this Agreement and the consummation by the Company of the Transactions, except as may be required under any state or federal securities laws or that may be obtained after the
      Closing without penalty or such that would not, individually or in the aggregate, reasonably be expected to have a material adverse effect on the financial position or results of operations of the Company and its subsidiaries, taken as a whole, or
      affect the Company’s ability to consummate the Transactions in any material respect.

   

  Section 3.2         Valid and Enforceable Agreements; No Violations. This Agreement has been duly executed and delivered by the Company and constitutes a legal, valid and binding obligation of the Company, enforceable
      against the Company in accordance with its terms, except that such enforcement may be subject to the Enforceability Exceptions. This Agreement and consummation of the Transactions will not violate, conflict with or result in a breach of or default
      under (a) the charter, bylaws or other organizational documents of the Company, (b) any material agreement or instrument to which the Company is a party or by which the Company or any of its assets are bound, or (c) any laws, regulations or
      governmental or judicial decrees, injunctions or orders applicable to the Company, except in the case of clauses (b) or (c), where such violations, conflicts, breaches or defaults would not, individually or in the aggregate, reasonably be expected to
      have a material adverse effect on the financial position or results of operations of the Company and its subsidiaries, taken as a whole, or affect the Company’s ability to consummate the Transactions in any material respect.

   

  Section 3.3         Validity of the Repurchase Shares. When delivered to the applicable Holder pursuant to the Transactions against delivery of the Repurchased Notes therefor in accordance with the terms of this
      Agreement, the Repurchase Shares will (i) be validly issued, fully paid and non-assessable, (ii) be free and clear of any Liens, including claims or rights under any voting trust agreements, shareholder agreements or other agreements, and (iii) will
      not be subject to any preemptive, participation, rights of first refusal or other similar rights.

  
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  Assuming the accuracy of the Undersigned’s and each Holder’s representations and warranties hereunder, the Repurchase Shares (a) will be issued in the
    Transactions exempt from the registration requirements of the Securities Act pursuant to Section 4(a)(2) of the Securities Act and (b) will be issued in compliance with all applicable state and federal laws.

   

  Section 3.4         Listing Approval. At the Closing, the Repurchase Shares shall be approved for listing on the NYSE.

   

  Section 3.5         Rule 144. At all times prior to April 15, 2020, the Company shall use its reasonable best efforts to ensure the availability of current public information, within the meaning of Rule 144(c) under the
      Securities Act.

   

  Section 3.6         Disclosure. On or before the first business day following the date of this Agreement, the Company shall issue a publicly available press release or file with the SEC a Current Report on Form 8-K
      disclosing all material terms of the Aggregated Transactions (to the extent not previously publicly disclosed). Without the prior written consent of the Undersigned, the Company shall not disclose the name of the Undersigned or any Holder in any
      filing or announcement, unless such disclosure is required by applicable law, rule, regulation or legal process based on advice of counsel.

   

  Section 3.7         No Litigation. There is no action, lawsuit, arbitration, claim or proceeding pending or, to the knowledge of the Company, threatened, against the Company that would reasonably be expected to impede
      the consummation of the Transactions.

   

  Article IV

      

      Closing Conditions & Notification

   

  Section 4.1         Conditions to Obligations of the Undersigned, each Holder and the Company. The obligations of the Undersigned to cause each Holder to deliver the Repurchased Notes and of the Company to deliver the
      Repurchase Consideration are subject to: (a) the satisfaction at or prior to the Closing of the condition precedent that the representations and warranties of the Holders and the Company contained in Articles II and III, respectively,
      shall be true and correct as of the Closing in all material respects with the same effect as though such representations and warranties had been made as of the Closing and, unless notice is given pursuant to Section 4.2 below, each of the
      representations and warranties contained therein shall be deemed to have been reaffirmed and confirmed as of the Closing Date; and (b) prior to or contemporaneously with the Closing, the Company shall have completed the closing of that certain
      issuance of [●]% Senior Convertible Notes due 2026 (collectively, the “New Notes”).

   

  Section 4.2         Notification. The Undersigned hereby covenants and agrees to notify the Company upon the occurrence of any event prior to the Closing that would cause any representation, warranty, or covenant
      contained in Article II to be false or incorrect in any material respect. The Company hereby covenants and agrees to notify the Undersigned upon the occurrence of any event prior to the Closing that would cause any representation, warranty,
      or covenant contained in Article III to be false or incorrect in any material respect.

  
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  Article V

      

      Miscellaneous

   

  Section 5.1         Notice. Any notice provided for in this Agreement shall be in writing and shall be either personally delivered, or mailed first class mail (postage prepaid) with return receipt requested or sent by
      reputable overnight courier service (charges prepaid). Notices will be deemed to have been given hereunder when delivered personally, three business days after deposit in the U.S. mail postage prepaid with return receipt requested and one business
      day after deposit postage prepaid with a reputable overnight courier service for delivery on the next business day. The addresses for any such notices shall be, unless changed by the applicable party via notice to the other parties in accordance
      herewith:

   

  If to the Company:

   

  	To:	PAR Technology Corporation

          8383 Seneca Turnpike

          New Hartford, NY 13413

          Attn: Cathy King, General Counsel

          Email: cathy_king@partech.com

          Tel: (315) 738-0600

    

  with a copy to:

   

  		Gibson, Dunn & Crutcher LLP

          200 Park Avenue

          New York, NY 10166

          Attn: Glenn Pollner

          Email: gpollner@gibsondunn.com

          Phone: (212) 351-4000

   

  If to the Holders, to the address on the signature page to this Agreement.

   

  Section 5.2         Entire Agreement. This Agreement and any documents and agreements executed in connection with the Transactions embody the entire agreement and understanding of the parties hereto with respect to the
      subject matter hereof and supersede all prior and contemporaneous oral or written agreements, representations, warranties, contracts, correspondence, conversations, memoranda and understandings between or among the parties or any of their agents,
      representatives or Affiliates relative to such subject matter, including, without limitation, any term sheets, emails or draft documents.

   

  Section 5.3         Assignment; Binding Agreement. This Agreement shall inure to the benefit of and be binding upon the parties and their successors and assigns. No party shall assign this Agreement or any rights or
      obligations hereunder or, in the case of the Holders, any of the Repurchased Notes held by such Holders, without the prior written consent of the

  
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  Company (in the case of assignment by a Holder) or the applicable Holders (in the case of assignment by the Company).

   

  Section 5.4         Further Assurances. The parties hereto each hereby agree to execute and deliver, or cause to be executed and delivered, such other documents, instruments and agreements, and take such other actions,
      including giving any further assurances, as any party may reasonably request in connection with the Transactions contemplated by and in this Agreement. In addition, subject to the terms and conditions set forth in this Agreement, each of the parties
      shall use its reasonable best efforts (subject to, and in accordance with, applicable law) to take promptly, or to cause to be taken, all actions, and to do promptly, or to cause to be done, and to assist and to cooperate with the other parties in
      doing, all things necessary, proper or advisable under applicable laws to consummate and make effective the Transactions contemplated hereby, including the obtaining of all necessary, proper or advisable consents, approvals or waivers from third
      parties and the execution and delivery of any additional instruments reasonably necessary, proper or advisable to consummate the Transactions contemplated hereby.

   

  Section 5.5         Waiver; Consent. This Agreement may not be changed, amended, terminated, augmented, rescinded or discharged (other than in accordance with its terms), in whole or in part, except by a writing
      executed by the parties hereto. No waiver of any of the provisions or conditions of this Agreement or any of the rights of a party hereto shall be effective or binding unless such waiver shall be in writing and signed by the party claimed to have
      given or consented thereto. Except to the extent otherwise agreed in writing, no waiver of any term, condition or other provision of this Agreement, or any breach thereof shall be deemed to be a waiver of any other term, condition or provision or any
      breach thereof, or any subsequent breach of the same term, condition or provision, nor shall any forbearance to seek a remedy for any non-compliance or breach be deemed to be a waiver of a party’s rights and remedies with respect to such
      non-compliance or breach.

   

  Section 5.6         Construction. References in the singular shall include the plural, and vice versa, unless the context otherwise requires. References in the masculine shall include the feminine and neuter, and vice
      versa, unless the context otherwise requires. Headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meanings of the provisions hereof. Neither party, nor its respective counsel, shall be deemed
      the drafter of this Agreement for purposes of construing the provisions of this Agreement, and all language in all parts of this Agreement shall be construed in accordance with its fair meaning, and not strictly for or against either party.

   

  Section 5.7         Governing Law; Waiver of Jury Trial. This Agreement shall in all respects be construed in accordance with and governed by the substantive laws of the State of New York, without reference to its
      choice of law rules. Each of the Company and the Undersigned irrevocably waive any and all right to trial by jury with respect to any legal proceeding arising out of the transactions contemplated by this Agreement.

   

  Section 5.8         Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which taken together shall constitute one and the

  
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  same instrument. Any counterpart or other signature hereon delivered by facsimile or any standard form of telecommunication or e-mail shall be deemed for all
    purposes as constituting good and valid execution and delivery of this Agreement by such party.

    

  Section 5.9         Specific Performance. Each of the parties hereto agrees that irreparable damage would occur if any provision of this Agreement were not performed in accordance with the terms hereof and that each of
      the parties hereto shall be entitled to an injunction or injunctions without the necessity of posting a bond to prevent breaches of this Agreement or to enforce specifically the performance of the terms and provisions hereof, in addition to any other
      remedy to which they are entitled at law or in equity. Unless otherwise expressly stated in this Agreement, no right or remedy described or provided in this Agreement is intended to be exclusive or to preclude a party hereto from pursuing other
      rights and remedies to the extent available under this Agreement, at law or in equity

   

  Section 5.10       Third Party Beneficiaries. Nothing herein shall grant to or create in any person not a party hereto (other than the Repurchase Agent), or any such person’s dependents or heirs, any right to any
      benefits hereunder, and no such party shall be entitled to sue any party to this Agreement with respect thereto.

   

  Section 5.11       Withholding. Notwithstanding anything to the contrary in this Agreement, the Company and any applicable withholding agent shall be entitled to deduct and withhold any amounts from the Repurchase
      Consideration and Accrued Interest that the Company or applicable withholding agent, as the case may be, determines it is required to deduct and withhold under the Internal Revenue Code of 1986, as amended, or any other tax law, and any such amounts
      so deducted and withheld shall be treated for all purposes as having been paid to the applicable person in respect of whom such deduction and withholding was made.

   

  [Signature Pages Follow]

  
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  IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be executed as of the date first above written.

   

  PAR TECHNOLOGY CORPORATION

   

  	By:	 	 
	Name:	 	 
	Title:	 	 

   

  [Signature page to Repurchase Agreement]

  
    
      
 

  

  IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be executed as of the date first above written.

   

  [LEGAL NAME OF SIGNATOR]:

   

  	(in its capacities described in the first paragraph hereof)	 
	By:	 	 
	Name:	 	 
	Title:	 	 
	Address:	 	 

  

  

  [Signature page to Repurchase Agreement]

  
    
      
 

  

  EXHIBIT A

    Selling Beneficial Owners

   

  	 	 	 	 	
          Repurchase

          Consideration

        	 	 	 	 
	
          Holder Name,

          Address, Email 

          and Phone

          Number

        	 	
          Repurchased 

            Notes1 

        	 	
          Cash

            Payment2[A] 

        	 	
          Repurchase

            Shares3 

        	 	Accrued

          Interest [B]	 	Total Cash

          Payment

          [A + B]

   

  DTC Participant Information*

   

  	DTC Participant Number:	 

   

  	DTC Participant Name:	 

   

  	DTC Participant Phone Number:	 

   

  	DTC Participant Email:	 

   

  	FFC Account #:	 

   

  	Account # at Bank/Broker:	 

    

  * DTC Participant information to be provided for each Holder

   

  

  	1	Insert principal of Existing Notes to be exchanged.

  

  	2	To include cash payable (including in respect of principal and fractional shares) but excluding accrued interest.

  

  	3	To include the number of shares of the Company’s common stock, par value $0.02, to be issued.

  
    
      
 

  

  EXHIBIT B

  
    
      
 

  

  EXHIBIT C

    

  Stockholder Representation Letter

   

  [DATE]

   

  PAR Technology Corporation

  8383 Seneca Turnpike

  New Hartford, NY 13413

   

  Re: Rule 144 Representation Letter Relating to issuance of [#######] shares of Common Stock, par value $0.02 (the “Shares”) of PAR Technology Corporation
    (the “Company”)

   

  Ladies & Gentlemen:

   

  The undersigned, [SHAREHOLDER], was a holder of 4.500% Convertible Senior Notes due 2024 (the “Existing Notes”) of the Company. Pursuant to a Repurchase
    Agreement, dated [●], 2020 (the “Repurchase Agreement”) by and among the Company and the signatories party thereto, the Company is issuing the Shares to the undersigned as consideration in connection with the repurchase from the undersigned of
    the aggregate principal amount of Existing Notes set out in the Repurchase Agreement. The undersigned as recipient of the above-referenced Shares, seeks to have the Shares issued without a restricted legend under the Securities Act of 1933, as amended
    (the “Securities Act”). In connection with the foregoing and in accordance with the requirements of Rule 144 promulgated under the Securities Act, the undersigned hereby confirms, represents and warrants that:

   

  

  		1.	The undersigned is not an “affiliate” of the Company as that term is defined in Rule 144(a)(1) and has not been an affiliate of the Company for at least ninety (90) days.

   

  		2.	As of the date of this letter, six (6) months will have elapsed since the date of acquisition of the Existing Notes from the Company, and payment of the full purchase price, by the undersigned
          in accordance with Rule 144(d).

   

  		3.	The undersigned wishes to have the Shares issued in the name of its brokerage account no. [_______] held with [BROKERAGE FIRM] with the intent of consummating a sale of the Shares.

   

  		4.	The undersigned will comply with any applicable requirements of the Securities Act, including, but not limited to, the requirements of Rule 144, in connection with any sale or transfer of the
          Shares.

   

  		5.	The undersigned agrees and acknowledges that if, at any time prior to April 15, 2020, the Company notifies the undersigned that the Shares are no longer eligible for sale by non-affiliates of
          the Company pursuant to Rule 144 of the Securities Act as a result of the Company not having current public information available within the meaning of Rule 144, the undersigned will submit the Shares to the Company for re-issuance with a
          Securities Act restrictive legend. Upon receipt of such notice, the undersigned agrees not to make any disposition of all or any portion of Shares unless and until: (a) the Shares are again able to be freely sold pursuant to Rule 144 under the
          Securities Act, (b) there is then in effect a registration statement under the Securities Act covering such proposed disposition and such disposition is made in accordance with such registration statement; or (c) the undersigned shall have
          furnished Company with an opinion of counsel, in a

  
    
      
 

  

  		 	form reasonably satisfactory to Company, that such disposition will not require registration of the Shares under the Securities Act and otherwise complies with applicable state securities laws.

   

  		6.	The undersigned agrees that, in order to ensure compliance with the restrictions imposed by this Stockholder Representation Letter, in the event that the shares are no longer eligible for sale
          by non-affiliates of the Company in accordance with (5) above, the Company may issue appropriate “stop-transfer” instructions to its transfer agent. Company will not be required: (a) to transfer on its books any Shares that have been sold or
          otherwise transferred in violation of any of the provisions of this Stockholder Representation Letter; or (b) to treat as owner of such Shares, or to accord the right to vote or receive dividends, to any purchaser or other transferee to whom such
          Shares have been so transferred in violation of any of the provisions of this Stockholder Representation Letter.

   

  Sincerely,

    

  [SHAREHOLDER]

   

  	By:	 	 

  

  	Name:	 	 
	Title:EX-10.1

 Exhibit 10.1 

Execution Version 

AMENDMENT NO. 1 TO CREDIT AGREEMENT 

This AMENDMENT NO. 1 (this “Amendment”) dated as of February 7, 2020 to the Credit Agreement dated as of
November 4, 2019 (as amended, supplemented or otherwise modified prior to the Amendment No. 1 Effective Date (as defined below), the “Credit Agreement”), among IRIDIUM HOLDINGS LLC (“Holdings”), solely
with respect to Section 10.12 thereof, IRIDIUM COMMUNICATIONS INC. (“Parent”), IRIDIUM SATELLITE LLC (the “Borrower”), the Lenders party thereto from time to time and Deutsche Bank AG New York Branch, as the
Administrative Agent (the “Administrative Agent”) and the Collateral Agent, is entered into and among Holdings, the Borrower, the Subsidiary Guarantors, the Administrative Agent, the Collateral Agent and the 2020 Additional Term
Loan Lender (as defined below). 
 WHEREAS, the Borrower has requested additional Initial Term Loans under the Amended Credit Agreement (as
defined below) in an aggregate principal amount of $200,000,000 (the “2020 Additional Term Loans”), which the Borrower intends to treat as fully fungible with the Initial Term Loans that are outstanding under the Credit Agreement
immediately prior to giving effect to this Amendment; 
 WHEREAS, the 2020 Additional Term Loan Lender has elected to provide the 2020
Additional Term Loans on the terms and conditions set forth herein; 
 WHEREAS, each Person that agrees to make 2020 Additional Term Loans
(collectively, the “2020 Additional Term Loan Lender”) will make 2020 Additional Term Loans to the Borrower on the Amendment No. 1 Effective Date in an amount equal to its 2020 Additional Term Commitment (as defined below) and
will become, if not already, a Lender for all purposes under the Amended Credit Agreement; 
 WHEREAS, as of the date hereof, the Borrower
intends to use the proceeds of the 2020 Additional Term Loans, together with cash on hand, to redeem Parent’s outstanding 10.250% senior notes due 2023 and to pay fees and expenses in connection with the foregoing and this Amendment
(collectively, the “2020 Amendment Transactions”); 
 WHEREAS, Deutsche Bank Securities Inc. (“DBSI”),
Barclays Bank PLC (“Barclays”), Credit Suisse Loan Funding LLC (“CSLF”) and Wells Fargo Securities, LLC (“Wells Fargo” and, together with DBSI, Barclays and CSLF, the “Amendment
No. 1 Lead Arrangers”) shall act as joint lead arrangers in connection with this Amendment and the 2020 Additional Term Loans; and 

WHEREAS, this Amendment will become effective on the Amendment No. 1 Effective Date on the terms and subject to the conditions set forth
herein. 
 Accordingly, in consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto hereby agree as follows: 
 ARTICLE I 

DEFINITIONS 

Section 1.01 Definitions. Capitalized terms used and not otherwise defined herein have the meanings assigned to them in the
Credit Agreement as amended by this Amendment (the “Amended Credit Agreement”). This Amendment is a “Credit Document”, as defined in the Credit Agreement. 

 ARTICLE II 

ADDITIONAL TERM LOANS 

Section 2.01 2020 Additional Term Loans. Subject to the terms and conditions set forth herein, each 2020 Additional Term
Loan Lender severally agrees to make, a 2020 Additional Term Loan to the Borrower on the Amendment No. 1 Effective Date in a principal amount equal to the amount set forth opposite such 2020 Additional Term Loan Lender’s name on Schedule 1
hereto (each such amount, a “2020 Additional Term Commitment”). 
 Section 2.02 Terms of the Additional Term
Loans. The 2020 Additional Term Loans shall have identical terms as, and be fully fungible with, the Initial Term Loans outstanding under the Credit Agreement on the date hereof (including, without limitation, with respect to the maturity
date, mandatory prepayments, voluntary prepayments, and prepayment fees and premium) and shall otherwise be subject to the provisions, including any provisions restricting the rights, or regarding the obligations, of the Credit Parties or any
provisions regarding the rights of the Term Lenders, under the Amended Credit Agreement and the other Credit Documents. The initial Interest Period(s) for the 2020 Additional Term Loans on the Amendment No. 1 Effective Date shall be equal to
the unexpired portion of the Interest Period(s) then in effect with respect to the Initial Term Loans on the Amendment No. 1 Effective Date. From and after the Amendment No. 1 Effective Date, each reference to an “Initial Term
Loan,” a “Term Loan” or a “Loan” in the Amended Credit Agreement or the other Credit Documents shall be deemed to include the 2020 Additional Term Loans being made pursuant to this Amendment (including, without limitation,
for purposes of the definitions of “Applicable Margin”, “Effective Yield” and “Repricing Transaction” in Section 1.01 of the Amended Credit Agreement) and all other related terms will have correlative meanings
mutatis mutandis. From and after the Amendment No. 1 Effective Date, each 2020 Additional Term Loan Lender shall be a “Lender” for purposes of the Amended Credit Agreement and the other Credit Documents. 

ARTICLE III 
 AMENDMENTS
TO THE CREDIT AGREEMENT AND SCHEDULE 2.01 
 Section 3.01 Amendments to Credit Agreement. Each of the parties hereto
agrees that, effective on the Amendment No. 1 Effective Date, the Credit Agreement shall be amended as follows: 
  

	(i)	 The following definitions are hereby added in appropriate alphabetical order to Section 1.01:

 “2020 Additional Term Lender” has the meaning assigned thereto in Amendment No. 1. 

“2020 Additional Term Loans” has the meaning assigned thereto in Amendment No. 1. 

“Amendment No. 1” means Amendment No. 1 to this Agreement, dated as of February 7, 2020, among
Holdings, the Borrower, the Subsidiary Guarantors, the 2020 Additional Term Lender party thereto, the Administrative Agent and the Collateral Agent. 

“Amendment No. 1 Effective Date” has the meaning assigned thereto in Amendment No. 1. 

 

	(ii)	 Clause (a)(i) of Section 5.02 of the Credit Agreement is hereby amended and restated in its entirety as
follows: 

 “In addition to any other mandatory repayments pursuant to this Section 5.02,
the Borrower shall be required to repay to the Administrative Agent for the ratable account of the applicable Term Lenders the aggregate principal amount of all Initial Term Loans outstanding in consecutive quarterly installments as follows which
installments shall, to the extent applicable, be reduced as 

 
provided in this Agreement, including in Section 2.19, 2.20, 5.01 or 5.02(g), or as a result of the application of prepayments or otherwise in
connection with any Extension as provided in Section 2.14, or be increased as a result of any increase in the amount of the Initial Term Loans pursuant to Section 2.15 (such increased amortization
payments to be calculated in the same manner (and on the same basis) as the schedule set forth below for the Initial Term Loans made on the Closing Date) (each of the repayments required pursuant to this Section 5.02 a “Scheduled
Repayment”): 
  

			
	 Date
	  	 Amount

	The last Business Day of each fiscal quarter ending prior to the Initial Maturity Date for Initial Term Loans starting with the fiscal quarter ending on June 30, 2020	  	0.25% of the aggregate principal amount of the aggregate initial principal amount of the Initial Term Loans (including the 2020 Additional Term Loans) on the Amendment No. 1 Effective Date
		
	Initial Maturity Date for Initial Term Loans	  	All unpaid aggregate principal amounts of any outstanding Initial Term Loans

 Section 3.02 Amendments to Schedule 2.01 – Commitments. Each of the parties
hereto agrees that, effective on the Amendment No. 1 Effective Date, Schedule 2.01 of the Credit Agreement shall be modified to reflect the 2020 Additional Term Commitment of each 2020 Additional Term Loan Lender as an additional Initial Term
Loan Commitment. 
 ARTICLE IV 

REPRESENTATIONS AND WARRANTIES 

Section 4.01 Representations and Warranties. To induce the other parties hereto to enter into this Amendment, each Credit
Party represents and warrants to each other party hereto, on and as of the Amendment No. 1 Effective Date, that the following statements are true and correct on and as of the Amendment No. 1 Effective Date: 

(a)    all representations and warranties contained in the Amended Credit Agreement (provided that
Section 8.05(b) shall be deemed to refer to the “Amendment No. 1 Effective Date” instead of the “Closing Date” and to the “2020 Amendment Transactions” instead of the “Transactions”) and in the other
Credit Documents are true and correct in all material respects on the Amendment No. 1 Effective Date (in each case, any representation or warranty that is qualified as to “materiality or similar language” shall be true and correct in
all respects on the Amendment No. 1 Effective Date) except to the extent such representations and warranties expressly relate to an earlier date, in which case such representations and warranties shall be true and correct in all material
respects as of such date (in each case, any representation or warranty that is qualified as to “materiality or similar language” shall be true and correct in all respects on and as of the Amendment No. 1 Effective Date); 

(b)    no Event of Default has occurred and is continuing or would result from the 2020 Amendment Transactions. 

 ARTICLE V 

CONDITIONS TO EFFECTIVENESS 

Section 5.01 Amendment No. 1 Effective Date. This Amendment shall become effective as of
the first date (the “Amendment No. 1 Effective Date”) on which each of the following conditions shall have been satisfied: 

(a)    Execution and Delivery of this Amendment. On or prior to the Amendment No. 1 Effective Date,
each Credit Party, the Administrative Agent and the 2020 Additional Term Loan Lender, shall have signed a counterpart of this Amendment (whether the same or different counterparts) and shall have delivered (by electronic transmission or otherwise)
the same to the Administrative Agent. 
 (b)    Notes. If requested by any 2020 Additional Term Loan
Lender at least one (1) Business Day prior to the Amendment No. 1 Effective Date, the Administrative Agent shall have received a Term Note executed by the Borrower in favor of such 2020 Additional Term Loan Lender. 

(c)    Opinion of Counsel. The Administrative Agent shall have received the executed opinions of
(i) Milbank LLP, special New York counsel to the Credit Parties and (ii) Wiley Rein LLP special FCC counsel to the Borrower, each dated as of the Amendment No. 1 Effective Date and in form and substance reasonably satisfactory to the
Administrative Agent. 
 (d)    Organization Documents, Resolutions, Etc. Receipt by the
Administrative Agent of the following: 
 (i)    certificates from each Credit Party, dated the Amendment
No. 1 Effective Date, signed by a Responsible Officer of such Credit Party, and attested to by the Secretary or any Assistant Secretary of such Credit Party, together with copies of the certificate or articles of incorporation and by-laws (or equivalent organizational documents), as applicable, of such Credit Party (or, to the extent applicable, a certificate of a Responsible Officer certifying that there have been no changes to such
documents and certificates since the Closing Date) and the resolutions of such Credit Party referred to in such certificate, and each of the foregoing shall be in form and substance reasonably satisfactory to the Administrative Agent; and 

(ii)    good standing certificates and bring-down telegrams or facsimiles, if any, for the Credit Parties
which the Administrative Agent reasonably may have requested at least two (2) Business Days to the Amendment No. 1 Effective Date, certified by proper Governmental Authorities. 

(e)    Loan Notice. Receipt by the Administrative Agent of a Notice of Borrowing requesting the Borrowing of
the 2020 Additional Term Loans on the Amendment No. 1 Effective Date in accordance with the requirements of Section 2.03 of the Amended Credit Agreement. 

(f)    KYC Information. Each 2020 Additional Term Loan Lender shall have received, at least three
(3) Business Days prior to the Amendment No. 1 Effective Date, (i) all documentation and other information required by bank regulatory authorities under applicable “know your customer” and anti-money laundering rules and
regulations, including the USA PATRIOT Act and (ii) to the extent the Borrower qualifies as a “legal entity customer” under the Beneficial Ownership Regulation, a Beneficial Ownership Certification in relation to the Borrower, in each
case, to the extent reasonably requested by such Person in writing at least ten (10) days prior to the Amendment No. 1 Effective Date. 

 (g)    Representations and Warranties. The representations
and warranties contained in Article IV hereof shall be true and correct on and as of the Amendment No. 1 Effective Date. 

(h)    Closing Certificate. The Administrative Agent shall have received a certificate signed by a
Responsible Officer of the Borrower certifying as to the satisfaction of the conditions set forth in Section 5.01(g) above. 

(i)    Solvency Certificate. On the Amendment No. 1 Effective Date, the Administrative Agent shall have
received a solvency certificate from the chief financial officer or treasurer of Holdings substantially in the form of Exhibit I, as modified to reflect the 2020 Amendment Transactions. 

(j)    Fees and Expenses. On the Amendment No. 1 Effective Date, the Borrower shall have paid to the
Administrative Agent, the Amendment No. 1 Lead Arrangers and the 2020 Additional Term Loan Lender all reasonable and documented out-of-pocket costs, fees and
expenses (including, without limitation, legal fees and expenses) to the extent required to be reimbursed pursuant to the Credit Agreement to the extent invoiced at least three (3) Business Days prior to the Amendment No. 1 Effective Date
and any other compensation payable to the Administrative Agent, the Amendment No. 1 Lead Arrangers and the 2020 Additional Term Loan Lender or otherwise payable, in each case, in respect of the 2020 Amendment Transactions to the extent then
due. 
 (k)    Lien Searches. The Administrative Agent shall have received, in form and substance
reasonably satisfactory to it, the results of customary UCC, tax and judgment lien searches, in each case to the extent such lien searches are requested no later than five (5) Business Days prior to the Amendment No. 1 Effective Date. 

Section 5.02 Effects of this Amendment. 

(a)    This Amendment shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the
rights and remedies of the Lenders, the Administrative Agent or the Collateral Agent under the existing Credit Agreement or any other Credit Document, and except as expressly set forth herein shall not alter, modify, amend or in any way affect any
of the terms, conditions, obligations, covenants or agreements contained in the existing Credit Agreement or any other provision of the existing Credit Agreement or of any other Credit Document, all of which are ratified and affirmed in all respects
and shall continue in full force and effect. This Amendment shall not constitute a novation of the Credit Agreement as in effect immediately prior to giving effect hereto or any of the Credit Documents. Except as expressly set forth herein, nothing
herein shall be deemed to be a waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Credit Document in similar or different
circumstances. 
 (b)    From and after the Amendment No. 1 Effective Date, each reference in the Credit Agreement
to “this Agreement”, “hereunder”, “hereof”, “herein”, or words of like import, and each reference to the “Credit Agreement” in any other Credit Document shall in each case be deemed a reference to
the Amended Credit Agreement as amended hereby. This Amendment shall constitute a “Credit Document” for all purposes of the Credit Agreement and the other Credit Documents. 

ARTICLE VI 

ACKNOWLEDGMENTS OF 2020 ADDITIONAL TERM LOAN LENDER 

Section 6.01 Acknowledgement of 2020 Additional Term Loan Lender. Each 2020 Additional Term Loan Lender expressly
acknowledges that neither any of the Agents nor any of their respective Affiliates nor any of their respective officers, directors, employees, agents or attorneys in fact 

 
have made any representations or warranties to it and that no act by any Agent or such other Person hereafter taken, including any review of the affairs of a Credit Party or any affiliate of a
Credit Party, shall be deemed to constitute any representation or warranty by any Agent or any such other Person to such 2020 Additional Term Loan Lender. Each 2020 Additional Term Loan Lender represents to the Agents that it has, independently and
without reliance upon any Agent or any other Lender or any of their respective Related Parties, and based on such documents and information as it has deemed appropriate, made its own credit analysis, appraisal of and investigation into the business,
operations, property, financial and other condition and creditworthiness of the Credit Parties and their Affiliates and made its own decision to provide its 2020 Additional Term Loans hereunder and enter into this Amendment, the Amended Credit
Agreement and to any other Credit Document to which such 2020 Additional Term Loan Lender shall become a party. Each 2020 Additional Term Loan Lender also represents that it will, independently and without reliance upon any Agent or any other
Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under the Amended Credit Agreement and the other Credit
Documents, and to make such investigation as it deems necessary to inform itself as to the business, operations, property, financial and other condition and creditworthiness of the Credit Parties and their affiliates. Each 2020 Additional Term Loan
Lender hereby (a) confirms that it has received a copy of the Amended Credit Agreement and each other Credit Document and such other documents (including financial statements) and information as it deems appropriate to make its decision to
enter into this Amendment and the other Credit Documents to which such 2020 Additional Term Loan Lender shall be a party, (b) agrees that it shall be bound by the terms of the Amended Credit Agreement and the other Credit Documents as a Lender
thereunder and that it will perform in accordance with their terms all of the obligations which by the terms of such Credit Documents are required to be performed by it as a Lender and (c) irrevocably designates and appoints the Agents as the
agents of such 2020 Additional Term Loan Lender under the Amended Credit Agreement and the other Credit Documents, and such 2020 Additional Term Loan Lender irrevocably authorizes each Agent, in such capacity, to take such action on its behalf under
the provisions of the Amended Credit Agreement and the other Credit Documents and to exercise such powers and perform such duties as are delegated to such Agent by the terms of the Amended Credit Agreement and the other Credit Documents, together
with such other powers as are reasonably incidental thereto. 
 ARTICLE VII 

REAFFIRMATION 

Section 7.01 Reaffirmation. By signing this Amendment, each Credit Party hereby confirms that
(a) notwithstanding the effectiveness of this Amendment and the transactions contemplated hereby, the obligations of such Credit Parties under the Amended Credit Agreement (including with respect to the 2020 Additional Term Loans contemplated
by this Agreement) and the other Credit Documents (i) are entitled to the benefits of the guarantees and the security interests set forth or created in the Amended Credit Agreement, the Security Agreement, the other Security Documents and the
other Credit Documents, (ii) constitute “Guaranteed Obligations” and “Obligations” for purposes of the Amended Credit Agreement, the Security Agreement, the other Security Documents and all other Credit Documents,
(iii) each Guarantor hereby confirms and ratifies its continuing unconditional obligations as Guarantor under the Credit Agreement as amended hereby with respect to all of the Guaranteed Obligations and (iv) each Credit Document to which
such Credit Party is a party is, and shall continue to be, in full force and effect and is hereby ratified and confirmed in all respects and shall remain in full force and effect according to its terms (in the case of the Credit Agreement, as
amended hereby) and (b) each 2020 Additional Term Loan Lender shall be a “Secured Creditor” and a “Lender” (including without limitation for purposes of the definition of “Required Lenders” contained in
Section 1.01 of the Amended Credit Agreement) for all purposes of the Amended Credit Agreement and the other Credit Documents. Each Credit Party ratifies and confirms that all Liens granted, conveyed, or assigned to any Agent by such Person
pursuant to any Credit Document to which it is a party remain in full force and effect, are not released or reduced, and continue to secure full payment and performance of the Obligations as increased hereby. 

 ARTICLE VIII 

MISCELLANEOUS 

Section 8.01 Entire Agreement. This Amendment, the Credit Agreement and the other Credit Documents constitute the entire
agreement among the parties hereto with respect to the subject matter hereof and thereof and supersede all other prior agreements and understandings, both written and verbal, among the parties hereto with respect to the subject matter hereof. Except
as expressly set forth herein, this Amendment shall not by implication or otherwise limit, impair, constitute a waiver of, or otherwise affect the rights and remedies of any party under, the Credit Agreement, nor alter, modify, amend or in any way
affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement, all of which are ratified and affirmed in all respects and shall continue in full force and effect. It is understood and agreed that each
reference in each Credit Document to the Credit Agreement, whether direct or indirect, shall hereafter be deemed to be a reference to the Credit Agreement as amended hereby and that this Amendment is a Credit Document. 

Section 8.02 Miscellaneous Provisions. The provisions of Sections 13.08 and 13.20 of the Amended Credit Agreement
are hereby incorporated by reference and apply mutatis mutandis hereto. 
 Section 8.03 Severability. If any
provision of this Amendment is held to be illegal, invalid or unenforceable, the legality, validity and enforceability of the remaining provisions of this Amendment shall not be affected or impaired thereby. The invalidity of a provision in a
particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 
 Section 8.04
Counterparts. This Amendment may be executed in any number of counterparts and by the different parties hereto on separate counterparts, each of which when so executed and delivered shall constitute an original, but all of which, when
taken together, shall constitute one and the same instrument. A set of counterparts executed by all the parties hereto shall be lodged with the Borrower and the Administrative Agent. 

Section 8.05 Headings. The headings of this Amendment are for purposes of reference only and shall not limit or otherwise
affect the meaning hereof. 
 Section 8.06 Certain Tax Matters. The parties hereto agree to treat the 2020 Additional
Term Loans to be issued pursuant to this Amendment as fungible for U.S. federal income tax purposes with the Initial Term Loans outstanding under the Credit Agreement immediately prior to the effectiveness of this Amendment. 

[Signature Pages Follow] 

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

			
	IRIDIUM SATELLITE LLC
	IRIDIUM HOLDINGS LLC
	IRIDIUM CARRIER HOLDINGS LLC
	IRIDIUM CARRIER SERVICES LLC
	IRIDIUM CONSTELLATION LLC
		
	By:	 	 /s/ Thomas J. Fitzpatrick

	Name:	 	Thomas J. Fitzpatrick
	Title:	 	Chief Financial Officer
	
	IRIDIUM GOVERNMENT SERVICES LLC
		
	By:	 	 /s/ Thomas J. Fitzpatrick

	Name:	 	Thomas J. Fitzpatrick
	Title:	 	Chief Financial Officer, Iridium
		 	Constellation LLC, its Member

 
			
	DEUTSCHE BANK AG NEW YORK BRANCH,
	as Administrative Agent, Collateral Agent and as a 2020 Additional Term Loan Lender
		
	By:	 	 /s/ Michael Strobel

	Name:	 	Michael Strobel
	Title:	 	Vice President
		
	By:	 	 /s/ Suzan Onal

	Name:	 	Suzan Onal
	Title:	 	Associate

 Schedule 1 

2020 Additional Term Commitments 
  

			
	2020 Additional Term Loan Lender	  	2020 Additional Term Commitment
	 DEUTSCHE BANK AG NEW YORK BRANCH
	  	$200,000,000

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