Document:

Exhibit 10.8

EXECUTION VERSION

INCREMENTAL ASSUMPTION AGREEMENT

Dated as of August 10, 2017,

among

BERRY GLOBAL GROUP, INC.,

BERRY GLOBAL, INC.

and

CERTAIN SUBSIDIARIES OF BERRY GLOBAL, INC.

as Loan Parties,

CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH

as Administrative Agents,

WELLS FARGO BANK, NATIONAL ASSOCIATION

as Initial Term M Lender

and

WELLS FARGO BANK, NATIONAL ASSOCIATION

as Initial Term N Lender

 

INCREMENTAL ASSUMPTION AGREEMENT

THIS INCREMENTAL ASSUMPTION AGREEMENT (this "Agreement"), dated as of August 10, 2017, is among BERRY GLOBAL, INC. (formerly known as Berry Plastics Corporation), a Delaware corporation (the "Borrower"), BERRY GLOBAL GROUP, INC. (formerly known as Berry Plastics Group, Inc.), a Delaware corporation ("Holdings"), each Subsidiary of the Borrower listed on the signature pages hereto (together with Holdings and Borrower, the "Loan Parties"), Wells Fargo Bank, National Association, as an Incremental Term Lender (as defined in the Credit Agreement referred to below) with respect to the Term M Loans (in such capacity, the "Initial Term M Lender"), Wells Fargo Bank, National Association, as an Incremental Term Lender with respect to the Term N Loans (in such capacity, the "Initial Term N Lender"), and Credit Suisse AG, Cayman Islands Branch (formerly known as Credit Suisse, Cayman Islands Branch), as administrative agent (in such capacity, the "Administrative  Agent") for the Lenders under the Credit Agreement.

PRELIMINARY STATEMENTS:

(1) The Loan Parties, the Administrative Agent and the other agents and lenders party thereto are parties to the Second Amended and Restated Term Loan Credit Agreement dated as of April 3, 2007 (as modified by that certain Incremental Assumption Agreement, dated as of February 8, 2013, that certain Incremental Assumption Agreement, dated as of January 6, 2014, that certain Incremental Assumption Agreement and Amendment, dated as of October 1, 2015, that certain Incremental Assumption Agreement and Amendment, dated as of June 15, 2016, that certain Incremental Assumption Agreement, dated as of January 19, 2017 and that certain Incremental Assumption Agreement, dated as of February 10, 2017 (collectively, the "Prior Incremental Assumption Agreements"), the "Credit Agreement"). Capitalized terms not otherwise defined in this Agreement have the same meanings as specified in the Credit Agreement.

(2) The Borrower has requested that the Initial Term M Lender provide an Incremental Term Loan Commitment (and Incremental Term Loans consisting of Other Term Loans) in the amount of $1,644,750,000.00 (such commitment, the "Term M Loan Commitment" and such Incremental Term Loans, the "Term M Loans"), and the Initial Term M Lender is willing to provide the Term M Loan Commitment and Term M Loans, subject in each case to the terms and conditions set forth herein.

(3) The Borrower has requested that the Initial Term N Lender provide an Incremental Term Loan Commitment (and Incremental Term Loans consisting of Other Term Loans) in the amount of $498,750,000.00 (such commitment, the "Term N Loan Commitment" and such Incremental Term Loans, the "Term N Loans"), and the Initial Term N Lender is willing to provide the Term N Loan Commitment and Term N Loans, subject in each case to the terms and conditions set forth herein.

(4) The Loan Parties, the Initial Term M Lender, the Initial Term N Lender and the Administrative Agent are entering into this Agreement in order to evidence the Term M Loan Commitment and Term M Loans and the Term N Loan Commitment and Term N Loans in accordance with Section 2.21 of the Credit Agreement.

SECTION 1. New Commitments and New Loans

	
(a)

	
Pursuant to Section 2.21 of the Credit Agreement, and subject to the satisfaction of the conditions set forth in Section 4 hereof:

	
(i)

	
The Initial Term M Lender agrees to make a single loan to the Borrower on the Effective Date (as defined below) in a principal amount equal to the amount set forth with respect to the Initial Term M Lender on Schedule 1A hereto.

	
(ii)

	
The Initial Term N Lender agrees to make a single loan to the Borrower on the Effective Date in a principal amount equal to the amount set forth with respect to the Initial Term N Lender on Schedule 1B hereto.

	
(b)

	
The Administrative Agent hereby approves of each of the Initial Term M Lender and the Initial Term N Lender as Incremental Term Lenders under the Credit Agreement and approves of the terms of the Term M Loans as set forth in Section 2 hereof and the terms of the Term N Loans as set forth in Section 3 hereof

	
(c)

	
For purposes of this Agreement, the following terms have the meanings ascribed below:

	
(i)

	
"Amendment Lead Arrangers" means Wells Fargo Securities, LLC, Barclays Bank PLC, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman Sachs Lending Partners (through itself or one of its affiliates), JPMorgan Chase Bank, N.A. and Merrill Lynch, Pierce, Fenner & Smith Incorporated (or any of its affiliates designated to act in such capacity).

SECTION 2. Terms of the Term M Loans

Pursuant to Section 2.21 of the Credit Agreement, the Term M Loans shall be Other Term Loans, the terms of which shall be as follows:

	
(a)

	
The aggregate principal amount of the Term M Loans and Term M Loan Commitment shall be $1,644,750,000.00.

	
(b)

	
The final maturity date of the Term M Loans shall be October 1, 2022.

	
(c)

	
The Applicable Margin with respect to the Term M Loans shall be 2.25% per annum in the case of any Eurocurrency Loan that is a Term M Loan and shall be 1.25% for any ABR Loan that is a Term M Loan.

	
(d)

	
Notwithstanding anything herein or in the Credit Agreement to the contrary, in the event that, on or prior to the six-month anniversary of the Effective Date, there occurs any Term M Loan Repricing Event (as defined below) or in connection with a Term M Loan Repricing Event constituting an amendment or conversion of Term M Loans, any Lender is required to assign its Term M Loans pursuant to Section 2.19(c) of the Credit Agreement, the Borrower shall on the date of such Term M Loan Repricing Event pay to the Administrative Agent, for the account of each Lender with such Term M Loans that are subject to such Term M Loan Repricing Event or are required to be so assigned, a fee equal to 1.00% of the principal amount of the Term M Loans subject to such Term M Loan Repricing Event or required to be so assigned; provided that any prepayment of any Term M Loans made in connection with a Change in Control shall not require the payment of the 1.00% premium otherwise provided for in this paragraph.

For purposes of this Section 2(d), "Term M Loan Repricing Event" shall mean any prepayment or repayment of Term M Loans with the proceeds of, or any conversion or amendment of Term M Loans into, any new or replacement tranche of term loans bearing interest with an "effective yield" (taking into account, for example, upfront fees, interest rate spreads, interest rate benchmarks floors and original interest discount, but excluding the effect of any arrangement, structuring, syndication or other fees payable in connection therewith that are not shared with all lenders or holders of such new or replacement loans and without taking into account any fluctuations in the Adjusted LIBO Rate or comparable rate) less than the "effective yield" applicable to the Term M Loans (as such comparative yields are determined consistent with generally accepted financial practices) (it being understood that (x) in each case, the yield shall exclude any structuring, commitment and arranger fees or other fees unless such similar fees are paid to all lenders generally in the primary syndication of such new or replacement tranche of term loans and shall include any rate floors and any upfront or similar fees paid to all lenders generally in the primary syndication of such new or replacement tranche of term loans or original issue discount payable with respect to such new or replacement tranche of term loans and (y) any such repayment, prepayment or conversion shall only constitute a Term M Loan Repricing Event to the extent the primary purpose of such repayment, prepayment, conversion or amendment, as reasonably determined by the Borrower in good faith, is to reduce the "effective yield" on the Term M Loans).

	
(e)

	
All other terms not described herein and relating to the Term M Loans shall be the same as the terms of the Term I Loans in effect immediately prior to the Effective Date.

SECTION 3. Terms of the Term N Loans

Pursuant to Section 2.21 of the Credit Agreement, the Term N Loans shall be Other Term Loans, the terms of which shall be as follows:

	
(a)

	
The aggregate principal amount of the Term N Loans and Term N Loan Commitment shall be $498,750,000.00.

	
(b)

	
The final maturity date of the Term N Loans shall be January 19, 2024.

	
(c)

	
The Applicable Margin with respect to the Term N Loans shall be 2.25% per annum in the case of any Eurocurrency Loan that is a Term N Loan and shall be 1.25% for any ABR Loan that is a Term N Loan.

	
(d)

	
Notwithstanding anything herein or in the Credit Agreement to the contrary, in the event that, on or prior to the six-month anniversary of the Effective Date, there occurs any Term N Loan Repricing Event (as defined below) or in connection with a Term N Loan Repricing Event constituting an amendment or conversion of Term N Loans, any Lender is required to assign its Term N Loans pursuant to Section 2.19(c) of the Credit Agreement, the Borrower shall on the date of such Term N Loan Repricing Event pay to the Administrative Agent, for the account of each Lender with such Term N Loans that are subject to such Term N Loan Repricing Event or are required to be so assigned, a fee equal to 1.00% of the principal amount of the Term N Loans subject to such Term N Loan Repricing Event or required to be so assigned; provided that any prepayment of any Term N Loans made in connection with a Change in Control shall not require the payment of the 1.00% premium otherwise provided for in this paragraph.

For purposes of this Section 3(d), "Term N Loan Repricing Event" shall mean any prepayment or repayment of Term N Loans with the proceeds of, or any conversion or amendment of Term N Loans into, any new or replacement tranche of term loans bearing interest with an "effective yield" (taking into account, for example, upfront fees, interest rate spreads, interest rate benchmarks floors and original interest discount, but excluding the effect of any arrangement, structuring, syndication or other fees payable in connection therewith that are not shared with all lenders or holders of such new or replacement loans and without taking into account any fluctuations in the Adjusted LIBO Rate or comparable rate) less than the "effective yield" applicable to the Term N Loans (as such comparative yields are determined consistent with generally accepted financial practices) (it being understood that (x) in each case, the yield shall exclude any structuring, commitment and arranger fees or other fees unless such similar fees are paid to all lenders generally in the primary syndication of such new or replacement tranche of term loans and shall include any rate floors and any upfront or similar fees paid to all lenders generally in the primary syndication of such new or replacement tranche of term loans or original issue discount payable with respect to such new or replacement tranche of term loans and (y) any such repayment, prepayment or conversion shall only constitute a Term N Loan Repricing Event to the extent the primary purpose of such repayment, prepayment, conversion or amendment, as reasonably determined by the Borrower in good faith, is to reduce the "effective yield" on the Term N Loans).

	
(e)

	
All other terms not described herein and relating to the Term N Loans shall be the same as the terms of the Term J Loans in effect immediately prior to the Effective Date.

SECTION 4. Conditions to Effectiveness.

The (x) Initial Term M Lender agrees to make its Term M Loans to the Borrower in an aggregate principal amount equal to its Term M Loan Commitment and (y) Initial Term N Lender agrees to make its Term N Loans to the Borrower in an aggregate principal amount equal to its Term N Loan Commitment, in each case on and as of the date (the "Effective Date") on which the following conditions shall have been satisfied:

	
(a)

	
The Administrative Agent (or its counsel) shall have received from each party hereto prior to giving effect to this Agreement either (i) a counterpart of this Agreement signed on behalf of such party or (ii) written evidence satisfactory to the Administrative Agent (which may include electronic transmission of a signed signature page of this Agreement) that such party has signed a counterpart of this Agreement.

	
(b)

	
The Administrative Agent shall have received, on behalf of itself and the Lenders, a favorable written opinion of (i) Bryan Cave LLP, special counsel for the Loan Parties, (ii) Jason Greene, in-house counsel for the Loan Parties, and (iii) Godfrey & Kahn, S.C., Wisconsin counsel for certain of the Loan Parties, in each case, each (A) dated the Effective Date, (B) addressed to the Administrative Agent, the Collateral Agent and the Lenders and (C) customary in form and substance for transactions of the type contemplated hereby and reasonably satisfactory to the Administrative Agent and covering such matters as are customary for transactions of the type contemplated hereby and consistent with the opinions delivered in connection with the Prior Incremental Assumption Agreements (to the extent applicable).

	
(c)

	
The Administrative Agent shall have received in the case of each Loan Party each of the items referred to in clauses (i), (ii), (iii) and (iv) below:

	
(i)

	
a bringdown confirmation, dated not more than one Business Day prior to the Effective Date, as to the good standing (to the extent such concept or a similar concept exists under the laws of such jurisdiction) of each such Loan Party from the Secretary of State (or other similar official) of the jurisdiction of its organization;

	
(ii)

	
a certificate of the Secretary or Assistant Secretary or similar officer of each Loan Party dated the Effective Date and certifying,

	
(A)

	
that attached thereto is a true and complete copy of resolutions duly adopted by the Board of Directors (or equivalent governing body) of such Loan Party (or its managing general partner or managing member) authorizing the execution, delivery and performance of this Agreement and, in the case of the Borrower, the borrowing of Term M Loans and Term N Loans, and that such resolutions have not been modified, rescinded or amended and are in full force and effect on the Effective Date,

	
(B)

	
that (1) except as amended by any amendment attached to such Secretary's or Assistant Secretary's certificate, neither the certificate or articles of incorporation, certificate of limited partnership or certificate of formation (as applicable) of such Loan Party, nor the by-laws, limited liability company, partnership agreement or other equivalent governing documents (as applicable) of such Loan Party, has been amended since the date of the last amendment thereto attached to the Secretary's Certificate of Borrower and Guarantors dated as of February 10, 2017, or in the case of Holdings, attached to the Secretary's Certificate of Holdings dated as of February 10, 2017, in each case delivered to the Administrative Agent in connection with the consummation of the financing transactions described in the Incremental Assumption Agreement dated as of February 10, 2017 (as so amended, collectively, the "Loan Party Organizational Documents"), and (2) the Loan Party Organizational Documents have been in effect at all times since the date of the resolutions described in clause (A) above, and remain in effect on the Effective Date,

	
(C)

	
as to the incumbency and specimen signature of each officer executing this Agreement or any other document delivered in connection herewith on behalf of such Loan Party; and

	
(D)

	
as to the absence of any pending proceeding for the dissolution or liquidation of such Loan Party or, to the knowledge of such person, threatening the existence of such Loan Party;

	
(iii)

	
certification of a director or another officer as to the incumbency and specimen signature of the Secretary or Assistant Secretary or similar officer executing the certificate delivered pursuant to Section 4(c)(ii); and

	
(iv)

	
a certificate of a Responsible Officer of the Borrower as to satisfaction of the condition set forth in Section 4(f) hereof

	
(d)

	
the Administrative Agent, Amendment Lead Arrangers, the Initial Term M Lender and the Initial Term N Lender shall have received, to the extent invoiced at least three business days prior to the Effective Date, reimbursement or payment of (i) all reasonable expenses related to syndication of this Agreement, the Term M Loans and the Term N Loans and (ii) the reasonable fees, charges and disbursements of Cahill Gordon & Reindel LLP, counsel to the Administrative Agent and Amendment Lead Arrangers, in each case, required to be reimbursed or paid by the Loan Parties on or prior to the Effective Date, whether hereunder, under that certain Amended & Restated Engagement Letter, dated as of June 15, 2017 (the "Engagement Letter"), among the Borrower, Wells Fargo Securities, LLC, Barclays Bank PLC ,Citi (as defined therein), Credit Suisse AG, Cayman Islands Branch and Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman Sachs Lending Partners, JPMorgan Chase Bank, N.A. and Merrill Lynch, Pierce, Fenner & Smith Incorporated (or any of its affiliates designated to act in such capacity), or under any Loan Document.

	
(e)

	
[Reserved].

	
(f)

	
The representations and warranties set forth in Article III of the Credit Agreement shall be true and correct in all material respects as of the Effective Date, in each case, with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date (in which case such representations and warranties shall be true and correct in all material respects as of such earlier date), and immediately after giving effect to the Borrowing of the Term M Loans and the Term N Loans, no Event of Default or Default shall have occurred and be continuing or would result therefrom.

	
(g)

	
The Administrative Agent shall have received a certificate from the chief financial officer of the Borrower in the form attached as Annex A hereto certifying that the Borrower and its subsidiaries, on a consolidated basis after giving effect to the transactions contemplated hereby, are solvent.

	
(h)

	
The Amendment Lead Arrangers shall have received, at least three business days prior to the Effective Date, all documentation and other information required by regulatory authorities under applicable "know your customer" and anti-money laundering rules and regulations, including, without limitation, the PATRIOT Act, to the extent requested in writing at least 10 days prior to the Effective Date.

	
(i)

	
The Administrative Agent shall have received a Borrowing Request in respect of each of the Term M Loans and the Term N Loans as required by Section 2.03 of the Credit Agreement.

	
(j)

	
The Administrative Agent shall have received a "Life-of-Loan" flood hazard determination notice for each real property encumbered by a Mortgage, and if such real property is located in a special flood hazard area, (x) a notice about special flood hazard area status and flood disaster assistance duly executed by the Borrower and the applicable Loan Party and (y) certificates of flood insurance evidencing any such insurance required by the Credit Agreement.

	
(k)

	
Substantially concurrently with the making by the Initial Term M Lender of its Term M Loans to the Borrower on the Effective Date, all of the principal, interest, fees and other amounts due and payable in respect of the Term I Loans under the Credit Agreement shall have been paid by the Borrower.

	
(l)

	
Substantially concurrently with the making by the Initial Term N Lender of its Term N Loans to the Borrower on the Effective Date, all of the principal, interest, fees and other amounts due and payable in respect of the Term J Loans under the Credit Agreement shall have been paid by the Borrower.

SECTION 5. Post Effective Date Security Documentation. The Borrower shall and shall cause each Material Subsidiary to, within 120 days after the Effective Date (or such longer period as the Administrative Agent may determine), deliver to the Administrative Agent, each in form and substance reasonably acceptable to the Administrative Agent

		(1)	
written confirmation (which confirmation may be provided in the form of an electronic mail acknowledgment in form and substance reasonably satisfactory to the Administrative Agent) from local counsel in the jurisdiction in which the Mortgaged Property (which are set forth on Schedule 2 hereto) is located substantially to the effect that: (x) the recording of the existing Mortgage is the only filing or recording necessary to give constructive notice to third parties of the lien created by such Mortgage as security for the Obligations, including the Obligations evidenced by the Credit Agreement, as amended pursuant to this Amendment, for the benefit of the Secured Parties; and (y) no other documents, instruments, filings, recordings, re-recordings, re-filings or other actions, including, without limitation, the payment of any mortgage recording taxes or similar taxes, are necessary or appropriate under applicable law in order to maintain the continued enforceability, validity or priority of the lien created by such Mortgage as security for the Obligations, including the Obligations evidenced by the Credit Agreement, as amended pursuant to this Amendment, for the benefit of the Secured Parties;

OR

		(2)	
(w) amendments to the Mortgages ("Mortgage Amendments"), (x) date down endorsements to the existing title insurance policies relating to the property subject to such Mortgage Amendment, (y) any documents required in connection with the recording of such Mortgage Amendments and (z) opinions of local counsel with respect to the enforceability, due authorization, execution and delivery of the Mortgage Amendments and other such other matters customarily included in such opinions.

SECTION 6. Representations and Warranties. On the Effective Date, the Loan Parties represent and warrant to the Administrative Agent, the Initial Term M Lender and the Initial Term N Lender that: (a) the execution, delivery and performance by Holdings, the Borrower and each of the Subsidiary Loan Parties of this Agreement and the incurrence of the Term M Loans and the Term N Loans hereunder and under the Credit Agreement (as amended hereby) are permitted under, and do not conflict with or violate, the terms of the Credit Agreement, the Existing ABL Credit Agreement, the Intercreditor Agreement or the Senior Lender Intercreditor Agreement, (b) no default shall exist under the Credit Agreement, the Existing ABL Credit Agreement, and any indenture and supplemental indenture governing the senior notes issued by the Borrower and outstanding on the Effective Date, (c) no action, consent or approval of, registration or filing with or any other action by any Governmental Authority is or will be required in connection with this Agreement or the incurrence by the Borrower of the Term M Loans and the Term N Loans, except for the actions contemplated by Section 5 above, (d) the proceeds of the Term M Loans will be used substantially simultaneously by the Borrower to repay all of the outstanding Term I Loans and (e) the proceeds of the Term N Loans will be used substantially simultaneously by the Borrower to repay all of the outstanding Term J Loans.

SECTION 7. Reference to and Effect on the Credit Agreement; Confirmation of Guarantors.

	
(a)

	
On and after the effectiveness of this Agreement, each reference in the Credit Agreement to "this Agreement", "hereunder", "hereof" or words of like import referring to the Credit Agreement, shall mean and be a reference to the Credit Agreement, as amended by, and after giving effect to, this Agreement.

	
(b)

	
Each Loan Document, after giving effect to this Agreement, is and shall continue to be in full force and effect and is hereby in all respects ratified and confirmed, except that, on and after the effectiveness of this Agreement, each reference in each of the Loan Documents (including the Collateral Agreement and the other Security Documents) to the "Credit Agreement", "thereunder", "thereof" or words of like import referring to the Credit Agreement shall mean and be a reference to the Credit Agreement, as amended by, and after giving effect to, this Agreement, and each reference to "Lender" therein shall, for the avoidance of doubt, include each holder of any Term M Loans, including the Initial Term M Lender, and each holder of any Term N Loans, including the Initial Term N Lender, respectively. Without limiting the generality of the foregoing, the Security Documents (in the case of the Mortgages, after giving effect to any amendments thereto required in connection with the Term M Loans and the Term N Loans) and all of the Collateral described therein do and shall continue to secure the payment of all Obligations of the Loan Parties under the Loan Documents, as amended by, and after giving effect to, this Agreement (in the case of the Mortgages, subject to any limitations contained in the Mortgages on maximum indebtedness or maximum indebtedness permitted to be secured thereby), in each case subject to the terms thereof

	
(c)

	
Each Loan Party hereby (i) ratifies and reaffirms all of its payment and performance obligations, contingent or otherwise, under each of the Loan Documents to which it is a party, (ii) ratifies and reaffirms each grant of a lien on, or security interest in, its property made pursuant to the Loan Documents (including, without limitation, the grant of security made by such Loan Party pursuant to the Collateral Agreement) and confirms that (in the case of the Mortgages, if any after giving effect to any amendments required in connection with the Term M Loans and the Term N Loans) such liens and security interests continue to secure the Obligations under the Loan Documents, including, without limitation, all Obligations resulting from or incurred pursuant to the Term M Loans and Term N Loans (in the case of the Mortgages, subject to any limitations contained in the Mortgages on maximum indebtedness or maximum indebtedness permitted to be secured thereby), in each case subject to the terms thereof and (iii) in the case of each Guarantor, ratifies and reaffirms its guaranty of the Obligations pursuant to Article II of the Collateral Agreement.

	
(d)

	
The execution, delivery and effectiveness of this Agreement shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of any Lender or any Agent under any of the Loan Documents, or constitute a waiver of any provision of any of the Loan Documents.

	
(e)

	
This Agreement is a Loan Document.

SECTION 8. Initial Term M Lender and Initial Term N Lender.

	
(a)

	
Each of the Initial Term M Lender and the Initial Term N Lender (i) confirms that it has received a copy of the Credit Agreement, together with copies of the financial statements referred to in Section 5.04 thereof and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Agreement; (ii) agrees 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 decisions in taking or not taking action under the Credit Agreement; (iii) represents and warrants that its name set forth on its signature page hereto is its legal name; (iv) confirms that it is not the Borrower or any of its Subsidiaries or an Affiliate of any of them; (v) appoints and authorizes each Agent to take such action as agent on its behalf and to exercise such powers and discretion under the Loan Documents as are delegated to such Agent by the terms thereof, together with such powers and discretion as are reasonably incidental thereto; (vi) agrees that it will perform in accordance with their terms all of the obligations that by the terms of the Credit Agreement are required to be performed by it as a Lender; and (vii) attaches any U.S. Internal Revenue Service forms required under Section 2.17 of the Credit Agreement.

	
(b)

	
On and after the Effective Date, each of the Initial Term M Lender and the Initial Term N Lender shall be a party to the Credit Agreement as a Lender and shall have all of the rights and obligations of a Lender thereunder. All notices and other communications provided for hereunder or under the Loan Documents to the Initial Term M Lender or to the Initial Term N Lender shall be to its address as set forth in the administrative questionnaire such Lender has furnished to the Administrative Agent.

SECTION 9. Costs, Expenses. The Borrower agrees to pay all reasonable out-of-pocket costs and expenses (including Other Taxes) incurred by the Administrative Agent in connection with the preparation, execution and delivery of this Agreement and the other instruments and documents to be delivered hereunder (including, without limitation, the reasonable fees and expenses of counsel for the Administrative Agent (subject to any applicable limitations in the Engagement Letter)) in accordance with the terms of Section 9.05 of the Credit Agreement.

SECTION 10. No Novation. This Agreement shall not extinguish the Obligations for the payment of money outstanding under the Credit Agreement or discharge or release the Lien or priority of any Loan Document or any other security therefor or any guarantee thereof, and the Liens and security interests existing immediately prior to the Effective Date in favor of the Administrative Agent for the benefit of the Secured Parties securing payment of the Obligations are in all respects continuing and in full force and effect with respect to all Obligations. Nothing herein contained shall be construed as a novation of any of the Loan Documents or a substitution or novation of the Obligations outstanding under the Credit Agreement or instruments guaranteeing or securing the same, which instruments shall remain and continue in full force and effect. Nothing expressed or implied in this Agreement or any other document contemplated hereby shall be construed as a release or other discharge of any Loan Party under the Credit Agreement or any other Loan Document from any of its obligations and liabilities thereunder, and except as expressly provided, such obligations and liabilities are in all respects continuing with only the terms being modified as provided in this Agreement.

SECTION 11. Execution in Counterparts. This Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which shall constitute an original but all of which, when taken together, shall constitute but one contract, and shall become effective as provided in Section 4.  Delivery of an executed counterpart to this Agreement by facsimile transmission (or other electronic transmission pursuant to procedures approved by the Administrative Agent) shall be effective as delivery of a manually signed original.

SECTION 12. Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York.

[Remainder of page intentionally left blank]

 

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

	
BERRY GLOBAL, INC.

	 
	 
	
By: /s/ Mark W. Miles 

	
Name: Mark W. Miles

	
Title: Chief Financial Officer

	 
	
BERRY GLOBAL GROUP, INC.

	 
	 
	
By: /s/ Mark W. Miles 

	
Name: Mark W. Miles

	
Title: Chief Financial Officer

	
DOMINION TEXTILE (USA), L.L.C.

	
FABRENE, L.L.C.

	
FIBERWEB GEOS, INC.

	
FIBERWEB, LLC

	
KERR GROUP, LLC

	
KNIGHT PLASTICS, LLC

	
OLD HICKORY STEAMWORKS, LLC

	
PACKERWARE, LLC

	
PESCOR, INC.

	
PGI EUROPE, INC.

	
PGI POLYMER, INC.

	
PLIANT INTERNATIONAL, LLC

	
PLIANT, LLC

	
POLY-SEAL, LLC

	
PRIME LABEL & SCREEN INCORPORATED

	
PRISTINE BRANDS CORPORATION

	
PROVIDENCIA USA, INC.

	
ROLLPAK CORPORATION

	
SAFFRON ACQUISITION, LLC

	
SEAL FOR LIFE INDUSTRIES, LLC

	
SETCO, LLC

	
SUN COAST INDUSTRIES, LLC

	
UNIPLAST HOLDINGS, LLC

	
UNIPLAST U.S., INC.

	
VENTURE PACKAGING, INC.

	 
	 
	
By: /s/ Jason K. Greene 

	
Name: Jason K. Greene

	
Title: Executive Vice President, General Counsel and Secretary

	
AEROCON, LLC

	
AVINTIV ACQUISITION CORPORATION

	
AVINTIV INC.

	
AVINTIV SPECIALTY MATERIALS INC.

	
BERRY PLASTICS ACQUISITION CORPORATION V

	
BERRY PLASTICS ACQUISITION CORPORATION XI

	
BERRY PLASTICS ACQUISITION CORPORATION XII

	
BERRY PLASTICS ACQUISITION CORPORATION XIII

	
BERRY GLOBAL FILMS, LLC

	
BERRY PLASTICS ACQUISITION LLC X

	
BERRY PLASTICS DESIGN, LLC

	
BERRY PLASTICS FILMCO, INC.

	
BERRY PLASTICS 1K, LLC

	
BERRY PLASTICS OPCO, INC.

	
BERRY PLASTICS SP, INC.

	
BERRY PLASTICS TECHNICAL SERVICES, INC.

	
BERRY STERLING CORPORATION

	
BPREX BRAZIL HOLDING INC.

	
BPREX CLOSURE SYSTEMS, LLC

	
BPREX CLOSURES KENTUCKY INC.

	
BPREX CLOSURES, LLC

	
BPREX DELTA INC.

	
BPREX HEALTHCARE BROOKVILLE INC.

	
BPREX HEALTHCARE PACKAGING INC.

	
BPREX PLASTIC PACKAGING INC.

	
BPREX PLASTICS SERVICES COMPANY INC.

	
BPREX PRODUCT DESIGN AND ENGINEERING INC.

	
BPREX SPECIALTY PRODUCTS PUERTO RICO INC.

	
CAPLAS, LLC

	
CAPLAS NEPTUNE, LLC

	
CAPTIVE PLASTICS HOLDINGS, LLC

	
CAPTIVE PLASTICS, LLC

	
CARDINAL PACKAGING, INC.

	
CHICOPEE, INC.

	
COVALENCE SPECIALTY ADHESIVES LLC

	
COVALENCE SPECIALTY COATINGS LLC

	
CPI HOLDING CORPORATION

	 
	 
	
By: /s/ Jason K. Greene 

	
Name: Jason K. Greene

	
Title: Executive Vice President, General Counsel and Secretary

	
GRAFCO INDUSTRIES LIMITED PARTNERSHIP

	 
	
By: CAPLAS NEPTUNE, LLC

	
its General Partner

	 
	 
	
By: /s/ Jason K. Greene 

	
Name: Jason K. Greene

	
Title: Executive Vice President, General Counsel and Secretary

	
CREDIT SUISSE AG, CAYMAN ISLANDS

	
BRANCH, as Administrative Agent

	 
	 
	
By: /s/ Mikhail Faybusovich 

	
Name: Mikhail Faybusovich

	
Title: Authorized Signatory

	 
	 
	
By: /s/ Whitney Gaston 

	
Name: Whitney Gaston

	
Title: Authorized Signatory

	
WELLS FARGO BANK, NATIONAL ASSOCIATION,

 as Initial Term M Lender

	 
	 
	
By: /s/ Thomas P. Trail 

	
Name: Thomas P. Trail

	
Title: Managing Director

	 
	 
	
WELLS FARGO BANK, NATIONAL ASSOCIATION,

 as Initial Term N Lender

	 
	 
	
By: /s/ Thomas P. Trail 

	
Name: Thomas P. Trail

	
Title: Managing Director

Schedule 1A

Initial Term M Lender Term M Loan Commitment

Wells Fargo Bank, National Association $1,644,750,000.00

Schedule 1B

Initial Term N Lender Term N Loan Commitment

Wells Fargo Bank, National Association $498,750,000.00

Schedule 2

1. 111 Excellence Lane, Mooresville, NC 28115

2. 1020 Shenandoah Village Dr., Waynesboro, VA 22980

3. 1203 Chicopee Road, Benson, NC 27504

4. 20 Elmwood Ave., Mountain Top, PA 18707

5. 70 Old Hickory Blvd., Old Hickory, TN 37138

Annex A

SOLVENCY CERTIFICATE

[ ], 2017

Reference is made to the Second Amended and Restated Term Loan Credit Agreement dated as of April 3, 2007 by and among Holdings, the Borrower, the Lenders and other parties thereto and Credit Suisse AG, Cayman Islands Branch (formerly known as Credit Suisse, Cayman Islands Branch), as administrative agent (as modified by that certain Incremental Assumption Agreement, dated as of February 8, 2013, that certain Incremental Assumption Agreement, dated as of January 6, 2014, that certain Incremental Assumption Agreement and Amendment, dated as of October 1, 2015, that certain Incremental Assumption Agreement and Amendment, dated as of June 15, 2016, that certain Incremental Assumption Agreement, dated as of January 19, 2017, that certain Incremental Assumption Agreement, dated as of February 10, 2017, and the Incremental Assumption Agreement dated as of the date hereof (the "Amendment"), the "Credit Agreement"); unless otherwise defined herein, capitalized terms used in this Certificate shall have the meanings set forth in the Credit Agreement or the Amendment, as applicable.

I, the undersigned, solely in my capacity as the Chief Financial Officer of the Borrower, and not in my individual capacity, do hereby certify that, on the Effective Date after giving effect to the transactions contemplated by the Amendment:

(a)  the fair value of the property of the Borrower and its Subsidiaries (taken as a whole) is greater than the total amount of liabilities, including contingent liabilities, of the Borrower and its Subsidiaries (taken as a whole) (it being understood that the amount of contingent liabilities at any time shall be computed as the amount that, in the light of all the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability);

(b)  the present fair salable value of the assets of the Borrower and its Subsidiaries (taken as a whole) is not less than the amount that will be required to pay the probable liability of the Borrower and its Subsidiaries (taken as a whole) on their debts as they become absolute and matured;

(c)  the Borrower and its Subsidiaries do not intend to, and do not believe that they will, incur debts or liabilities beyond their ability to pay such debts and liabilities as they become absolute and matured; and

(d)  the Borrower and its Subsidiaries are not engaged in any business, as conducted on the Effective Date and as proposed to be conducted following the Effective Date, for which the property of the Borrower and its Subsidiaries (taken as a whole) would constitute an unreasonably small capital.

IN WITNESS WHEREOF, I have delivered this certificate as of the date first written above.

	
BERRY GLOBAL, INC.

 

	
By  

Name:

 Title: Chief Financial OfficerExhibit 10.2

 

MERIDIAN
WASTE SOLUTIONS, INC.

One
Glenlake Parkway NE, Suite 900

Atlanta,
GA 30328

(770)
691-6350

 

November
20, 2017

 

YA
II PN, Ltd.

1012
Springfield Ave.

Mountainside,
NJ 07092

 

VIA
ELECTRONIC MAIL

 

Re:
Termination of Investment Agreement

 

You
are being sent this letter (this “Letter Agreement”) to effect the termination of that certain Investment Agreement
(the “Investment Agreement”) entered into on November 7, 2017 between Meridian Waste Solutions, Inc. (the “Company”)
and YA II PN, Ltd. (“YA”), in accordance with the parties’ mutual agreement to do so on the terms and conditions
set forth herein.

 

Except
for the Fee Shares (as such term is defined in the Investment Agreement), no shares of the Company’s common stock have been
offered to YA or issued to YA, nor has the Company filed with the U.S. Securities and Exchange Commission any registration statement
or prospectus supplement.

 

Pursuant
to this Letter Agreement, the parties hereby agree that (i) the Company will pay to YA a termination fee in the form of (a) $100,000
in cash paid to YA on or before November 22, 2017 and (b) 82,282 shares of restricted common stock of the Company will be issued
to YA in further consideration for YA’s entry into this Letter Agreement (the “Termination Shares” and, together
with the Fee Shares, the “Registrable Shares”) and (ii) the Company will register the Registrable Shares for re-sale
in a registration statement on Form S-3, which registration statement shall include the shares of common stock into which the
Series E Preferred Stock is convertible and be filed on or before November 22, 2017. The Fee Shares were issued in consideration
for the commitment fee in the amount of $250,000 owed by the Company pursuant to YA’s having entered into the Investment
Agreement, calculated at the price of $1.03 per share, the closing trading price of the Company’s common stock on the trading
day prior to the date the Investment Agreement was executed and delivered.

 

YA
and the Company hereby agree to be bound by the respective representations, warranties and other obligations set forth in Exhibit
A attached hereto and made a part hereof.

 

By
their execution hereof, YA and the Company hereby mutually agree and acknowledge that effective as of the date hereof the Investment
Agreement, and the private placement contemplated thereby, is hereby terminated and is of no further force or effect, notwithstanding
any term or condition contained in the Investment Agreement, including, but not limited to, provisions surviving termination,
and no party will have any obligation arising therefrom.

 

     

     

    

 

This
Letter Agreement contains the entire understanding between and among the parties and supersedes any prior understandings and agreements
among them respecting the subject matter of this Letter Agreement. This Letter Agreement shall be governed by and construed in
accordance with the laws of the State of New York without regard to choice of law principles. This Letter Agreement may be executed
in any number of counterparts, each of which shall be an original but all of which together shall constitute one and the same
instrument. In case any provision of this Letter Agreement shall be held to be invalid, illegal or unenforceable, such provision
shall be severable from the rest of this Letter Agreement, and the validity legality and enforceability of the remaining provisions
shall not in any way be affected or impaired thereby.

 

The
parties hereby consent and agree that if this Letter Agreement shall at any time be deemed by the parties for any reason insufficient,
in whole or in part, to carry out the true intent and spirit hereof or thereof, the parties will execute or cause to be executed
such other and further assurances and documents as in the reasonable opinion of the parties may be reasonably required in order
more effectively to accomplish the purposes of this Letter Agreement.

 

Please
indicate confirmation of the terms provided herein by executing and returning this letter in the space provided below.

 

	 	Very
    truly yours,
	 	 
	 	MERIDIAN
    WASTE SOLUTIONS, INC.
	 	 	 
	 	By:	 
	 	Name:	Jeffrey
    Cosman
	 	Title:
	Chief
    Executive Officer

 

	ACCEPTED
    AND AGREED:	 
	 	 	 
	YA
    II PN, Ltd.	 
	 	 	 
	By:
    Yorkville Advisors Global, LLC	 
	Its:
    Investment Manager	 
	 	 	 
	By:	                 	 

 

     

     

    

 

Exhibit
A

 

DEFINITIONS

 

For
purposes of the Letter Agreement dated November 20, 2017, of which this Exhibit A forms a part (this “Agreement”),
except as otherwise expressly provided or otherwise defined elsewhere in this Agreement, or unless the context otherwise requires,
the capitalized terms in this Agreement shall have the meanings assigned to them as follows:

 

A.       “Affiliate”
means, with respect to a Person, any other Person directly or indirectly controlling, controlled by, or under common control with,
such Person at any time during the period for which the determination of affiliation is being made. For purposes of this definition,
the term “control,” “controlling” “controlled” and words of similar import, when used in this
context, means, with respect to any Person, the possession, directly or indirectly, of the power to direct, or cause the direction
of, management policies of such Person, whether through the ownership of voting securities, by contract or otherwise.

 

B.       “Assets”
means all of the properties and assets of the Person in question, as the context may so require, whether real, personal or mixed,
tangible or intangible, wherever located, whether now owned or hereafter acquired.

 

C.       “Business
Day” shall mean any day other than a Saturday, Sunday or a legal holiday on which federal banks are authorized or required
to be closed for the conduct of commercial banking business.

 

D.       “Claims”
means any Proceedings, Judgments, Obligations, threats, losses, damages, deficiencies, settlements, assessments, charges, costs
and expenses of any nature or kind.

 

E.       “Common
Stock” means the common stock of the Company, par value $0.025 per share.

 

F.       “Common
Stock Equivalents” means any securities of the Company or its subsidiaries which would entitle the holder thereof to acquire
at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument
that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive,
Common Stock.

 

G.       “Consent”
means any consent, approval, order or authorization of, or any declaration, filing or registration with, or any application or
report to, or any waiver by, or any other action (whether similar or dissimilar to any of the foregoing) of, by or with, any Person,
which is necessary in order to take a specified action or actions, in a specified manner and/or to achieve a specific result.

 

H.       “Contract”
means any written or oral contract, agreement, order or commitment of any nature whatsoever, including, any sales order, purchase
order, lease, sublease, license agreement, services agreement, loan agreement, mortgage, security agreement, guarantee, management
contract, employment agreement, consulting agreement, partnership agreement, shareholders agreement, buy-sell agreement, option,
warrant, Preferred Stock, subscription, call or put required to be filed as an exhibit to the SEC Filings (as that term is defined
below).

 

    	 	1	 

     

    

 

I.        “Encumbrance”
means any lien, security interest, pledge, mortgage, easement, leasehold, assessment, tax, covenant, restriction, reservation,
conditional sale, prior assignment, or any other encumbrance, claim, burden or charge of any nature whatsoever.

 

J.        “Environmental
Requirements” means all Laws and requirements relating to human, health, safety or protection of the environment or to emissions,
discharges, releases or threatened releases of pollutants, contaminants, or Hazardous Materials in the environment (including,
without limitation, ambient air, surface water, ground water, land surface or subsurface strata), or otherwise relating to the
treatment, storage, disposal, transport or handling of any Hazardous Materials.

 

K.       “GAAP”
means generally accepted accounting principles, methods and practices set forth in the opinions and pronouncements of the Accounting
Principles Board and the American Institute of Certified Public Accountants, and statements and pronouncements of the Financial
Accounting Standards Board, or of such other Person as may be approved by a significant segment of the U.S. accounting profession,
in each case as of the date or period at issue, and as applied in the U.S. to U.S. companies.

 

L.       “Governmental
Authority” means any foreign, federal, state or local government, or any political subdivision thereof, or any court, agency
or other body, organization, group, stock market or exchange exercising any executive, legislative, judicial, quasi-judicial,
regulatory or administrative function of government.

 

M.      “Hazardous
Materials” means: (i) any chemicals, materials, substances or wastes which are now or hereafter become defined as or included
in the definition of “hazardous substances,” “hazardous wastes,” “hazardous materials,” “extremely
hazardous wastes,” “restricted hazardous wastes,” “toxic substances,” “toxic pollutants”
or words of similar import, under any Law; and (iii) any other chemical, material, substance, or waste, exposure to which is now
or hereafter prohibited, limited or regulated by any Governmental Authority.

 

N.       “Judgment”
means any order, writ, injunction, fine, citation, award, decree, or any other judgment of any nature whatsoever of any Governmental
Authority.

 

O.       “Law”
means any provision of any law, statute, ordinance, code, constitution, charter, treaty, rule or regulation of any Governmental
Authority.

 

P.       “Leases”
means all leases for real or personal property.

 

Q.       “Material
Adverse Effect” shall mean: (i) a material adverse change in, or a material adverse effect upon, the Assets, business, prospects,
properties, financial condition or results of operations of the Company; (ii) a material impairment of the ability of the Company
to perform any of its Obligations under this Agreement; or (iii) a material adverse effect on: (A) the legality, validity, binding
effect or enforceability against the Company of this Agreement; (B) the rights or remedies of YA under this Agreement; or (C)
a material adverse effect or impairment on YA’s ability to sell the shares of the Company’s Common Stock issuable
to YA under this Agreement without limitation or restriction.

 

    	 	2	 

     

    

 

R.       “Obligation”
means, now existing or in the future, any debt, liability or obligation of any nature whatsoever (including any required performance
of any covenants or agreements), whether secured, unsecured, recourse, nonrecourse, liquidated, unliquidated, accrued, voluntary
or involuntary, direct or indirect, absolute, fixed, contingent, ascertained, unascertained, known, unknown, whether or not jointly
owed with others, whether or not from time to time decreased or extinguished and later decreased, created or incurred, or obligations
under Contracts, existing or incurred under this Agreement or the Preferred Stock, as such obligations may be amended, supplemented,
converted, extended or modified from time to time.

 

S.       “Ordinary
Course of Business” means the ordinary course of business of the Person in question, consistent with past custom and practice
(including with respect to quantity, quality and frequency).

 

T.       “Permit”
means any license, permit, approval, waiver, order, authorization, right or privilege of any nature whatsoever, granted, issued,
approved or allowed by any Governmental Authority.

 

U.       “Person”
means any individual, sole proprietorship, joint venture, partnership, company, corporation, association, cooperation, trust,
estate, Governmental Authority, or any other entity of any nature whatsoever.

 

V.       “Proceeding”
means any demand, claim, suit, action, litigation, investigation, audit, study, arbitration, administrative hearing, or any other
proceeding of any nature whatsoever.

 

W.    
“Tax” means (i) any foreign, federal, state or local income, profits, gross receipts, franchise, sales, use, occupancy,
general property, real property, personal property, intangible property, transfer, fuel, excise, accumulated earnings, personal
holding company, unemployment compensation, social security, withholding taxes, payroll taxes, or any other tax of any nature
whatsoever, (ii) any foreign, federal, state or local organization fee, qualification fee, annual report fee, filing fee, occupation
fee, assessment, rent, or any other fee or charge of any nature whatsoever, or (iii) any deficiency, interest or penalty imposed
with respect to any of the foregoing.

 

X.       “Tax
Return” means any tax return, filing, declaration, information statement or other form or document required to be filed
in connection with or with respect to any Tax.

 

    	 	3	 

     

    

 

REPRESENTATIONS
AND WARRANTIES OF YA

 

YA,
hereby represents and warrants as of the date hereof to the Company as follows (unless as of a specific date therein, in which
case they shall be accurate as of such date):

 

A.       Investment
Purpose. YA is acquiring the Registrable Shares for its own account for investment only and not with a view towards, or for
resale in connection with, the public sale or distribution thereof.

 

B.       Accredited
Status. YA is an “accredited investor” as that term is defined in Rule 501 of Regulation D, as promulgated under
the Securities Act of 1933.

 

C.       Reliance
on Exemptions. YA understands that the Registrable Shares are issued to it in reliance on specific exemptions from the registration
requirements of United States federal and state securities laws and that the Company is relying in part upon the truth and accuracy
of, and YA’s compliance with, the representations, warranties, agreements, acknowledgments and understandings of YA set
forth herein in order to determine the availability of such exemptions and the eligibility of YA to acquire the Registrable Shares.

 

D.       Information.
YA and its advisors, if any, have been furnished with all materials they have requested relating to the business, finances and
operations of the Company and information YA deemed material. YA and its advisors, if any, have been afforded the opportunity
to ask questions of the Company and its management and have received response from the Company or management satisfactory to YA.
  Neither such inquiries, nor any materials provided to YA, nor any other due diligence investigations conducted by YA or
its advisors, if any, or its representatives, shall modify, amend or affect YA’s right to fully rely on the Company’s
representations and warranties contained in the Company’s representations and warranties below.

 

E.       No
Governmental Review. YA understands that no United States federal or state governmental authority has passed on or made any
recommendation or endorsement of the Registrable Shares, nor have such governmental authorities passed upon or endorsed the merits
of the issuance of the Registrable Shares.

 

F.       Authorization,
Enforcement. This Agreement has been duly and validly authorized, executed and delivered on behalf of YA and is a valid and
binding agreement of YA, enforceable in accordance with its terms, except as such enforceability may be limited by general principles
of equity or applicable bankruptcy, insolvency, reorganization, moratorium, liquidation and other similar laws relating to, or
affecting generally, the enforcement of applicable creditors’ rights and remedies.

 

REPRESENTATIONS
AND WARRANTIES OF THE COMPANY

 

The
Company hereby represents and warrants as of the date hereof to YA as follows (unless as of a specific date therein, in which
case they shall be accurate as of such date):

 

A.      Organization.
The Company is a corporation, duly incorporated, validly existing and in good standing under the Laws of the State of New York.
The Company has the full power and authority and all necessary certificates, licenses, approvals and Permits to: (i) enter into
and execute this Agreement and to perform all of its obligations hereunder and thereunder; and (ii) own and operate its assets
and properties and to conduct and carry on its business as and to the extent now conducted. The Company is duly qualified to transact
business and is in good standing as a foreign corporation in each jurisdiction where the character of its business or the ownership
or use and operation of its Assets or properties requires such qualification.

 

    	 	4	 

     

    

 

B.       Authority
and Approval of Agreement; Binding Effect. The execution and delivery by the Company of this Agreement, and the performance
by Company of all of its obligations hereunder and thereunder, including the issuance of the Registrable Shares, have been duly
and validly authorized and approved by the Company and its board of directors pursuant to all applicable laws and no other action
or consent on the part of Company, its board directors or any other person is necessary or required by the Company to execute
this Agreement, consummate the transactions contemplated herein and therein, perform all of Company’s obligations hereunder
and thereunder, or to issue the Registrable Shares. This Agreement has been duly and validly executed by Company (and the officer
executing this Agreement is duly authorized to act and execute same on behalf of Company) and constitutes the valid and legally
binding agreements of Company, enforceable against Company in accordance with its terms, except as such enforceability may be
limited by general principles of equity or applicable bankruptcy, insolvency, reorganization, moratorium, liquidation and other
similar laws relating to, or affecting generally, the enforcement of applicable creditors’ rights and remedies.

 

C.       Capitalization.
The authorized capital stock of the Company consists of 75,000,000 shares of Common Stock, par value $0.025 per share, of which
10,630,274 shares are issued and outstanding and the following preferred stock: (i) 51 shares of Series A Preferred Stock authorized
of which 51 shares of Series A Preferred Stock are issued and outstanding; (ii) 71,120 shares of Series B Preferred Stock authorized
of which 0 shares of Series B Preferred Stock are issued and outstanding; (iii) 67,361 shares of Series C Preferred Stock authorized
of which 0 shares of Series C Preferred Stock are issued and outstanding; (iv) 141,000 shares of Series D Preferred Stock authorized,
of which 141,000 shares are issued and outstanding; and (v) 300,000 shares of Series E Preferred Stock authorized, of which 300,000
shares are issued and outstanding; (v) 4,420,468 shares of undesignated “blank check” preferred stock. All of such
outstanding shares have been validly issued and are fully paid and nonassessable, have been issued in compliance with all foreign,
federal and state securities laws and none of such outstanding shares were issued in violation of any preemptive rights or similar
rights to subscribe for or purchase securities. The Company has no subsidiaries other than Here to Serve – Missouri Waste
Division, LLC, Here to Serve – Georgia Waste Division, LLC, Meridian Waste Operations, Inc., Meridian Land Company, LLC,
Christian Disposal, LLC, FWCD, LLC, The CFS Group, LLC, The CFS Group Disposal& Recycling Services, LLC, RWG5, LLC, Meridian
Waste Missouri, LLC, Meridian Innovations, LLC and Mobile Science Technologies, LLC. As of the date of this Agreement, no shares
of the Company’s capital stock are subject to preemptive rights or any other similar rights, claims or encumbrances suffered
or permitted by the Company. Except for the Registrable Shares and except as disclosed in the Company’s filings with the
Securities and Exchange Commission (the “SEC Filings”), as of the date hereof: (i) there are no outstanding options,
warrants, scrip, rights to subscribe to, calls or commitments of any character whatsoever relating to, or securities or rights
convertible into, any shares of capital stock of the Company, or contracts, commitments, understandings or arrangements by which
the Company is or may become bound to issue additional shares of capital stock of the Company, or options, warrants, scrip, rights
to subscribe to, calls or commitments of any character whatsoever relating to, or securities or rights convertible into, any shares
of capital stock of the Company; (ii) except as disclosed in the SEC Filings, there are no outstanding debt securities, notes,
credit agreements, credit facilities or other contracts or instruments evidencing indebtedness of the Company or any of its, or
by which the Company is or may become bound; (iii) there are no outstanding registration statements with respect to the Company
or any of its securities; (iv) there are no agreements or arrangements under which the Company is obligated to register the sale
of any of their securities under the Securities Act (except pursuant to this Agreement); (v) there are no financing statements
securing obligations filed in connection with the Company or any of its assets except as set forth in the SEC Reports; (vi) there
are no securities or instruments containing anti-dilution or similar provisions that will be triggered by this Agreement or any
related agreement or the consummation of the transactions described herein or therein; and (vii) there are no outstanding securities
or instruments of the Company which contain any redemption or similar provisions, and there are no Contracts by which the Company
is or may become bound to redeem a security of the Company. The Company has furnished to YA true, complete and correct copies
of: (I) the Company’s Articles of Incorporation, as amended and as in effect on the date hereof; and (II) the Company’s
Bylaws, as in effect on the date hereof (together, the “Organizational Documents”). Except for the Organizational
Documents or as disclosed in the SEC Filings, there are no other shareholder agreements, voting agreements or other Contracts
of any nature or kind that restrict, limit or in any manner impose obligations on the governance of the Company. No further approval
or authorization of any stockholder, the Board of Directors or others is required for the issuance of the Registrable Shares.

 

    	 	5	 

     

    

 

D.       No
Conflicts; Consents and Approvals. The execution, delivery and performance of this Agreement, and the consummation of the
transactions contemplated thereby, including the issuance of the Registrable Shares, will not: (i) constitute a violation of or
conflict with the Organizational Documents of the Company; (ii) constitute a violation of, or a default or breach under (either
immediately, upon notice, upon lapse of time, or both), or conflicts with, or gives to any other person any rights of termination,
amendment, acceleration or cancellation of, any provision of any contract to which Company is a party or by which any of its assets
or properties may be bound, other than the Amended and Restated Credit Agreement dated February 15, 2017, as amended, and the
Underwriting Agreement dated June 28, 2017; (iii) constitute a violation of, or a default or breach under (either immediately,
upon notice, upon lapse of time, or both), or conflict with, any Judgment; (iv) constitute a violation of, or conflict with, any
Law (including United States federal and state securities Laws); or (v) result in the loss or adverse modification of, or the
imposition of any fine, penalty or other Encumbrance with respect to, any Permit granted or issued to, or otherwise held by or
for the use of, Company or any of Company’s assets. The Company is not in violation of its Organizational Documents and
the Company is not in default or breach (and no event has occurred which with notice or lapse of time or both could put the Company
in default or breach) under, and the Company has not taken any action or failed to take any action that would give to any other
Person any rights of termination, amendment, acceleration or cancellation of, any Contract to which the Company is a party or
by which any property or Assets of the Company are bound or affected. The businesses of the Company are not being conducted in
violation of any Law. Except as specifically contemplated by this Agreement, the Company is not required to obtain any Consent
of, from, or with any Governmental Authority, or any other Person, in order for it to execute, deliver or perform any of its obligations
under this Agreement in accordance with the terms hereof or thereof, or to issue the Registrable Shares in accordance with the
terms hereof. The Company is not aware of any facts or circumstances which might give rise to any of the foregoing.

 

E.       Issuance
of Registrable Shares. The Registrable Shares are duly authorized and, upon issuance in accordance with the terms of this
Agreement, shall be duly issued, fully paid and non-assessable, and free from all Encumbrances with respect to the issue thereof,
and will be issued in compliance with all applicable United States federal and state securities Laws.

 

F.       Absence
of Litigation or Adverse Matters. No condition, circumstance, event, agreement, document, instrument, restriction, litigation
or Proceeding (or threatened litigation or Proceeding or basis therefor) exists which: (i) could adversely affect the ability
of the Company to perform its obligations under this Agreement; (ii) would constitute a default under any of this Agreement; (iii)
would constitute such a default with the giving of notice or lapse of time or both; or (iv) would constitute or give rise to a
Material Adverse Effect. In addition: (v) there is no Proceeding before or by any Governmental Authority or any other Person,
pending, or the best of Company’s knowledge, threatened or contemplated by, against or affecting the Company, its business
or assets; (vi) there is no outstanding Judgments against or affecting the Company, its business or assets; (vii) the Company
is not in breach or violation of any Contract; and (viii) the Company has not received any material complaint from any customer,
supplier, vendor or employee.

 

G.       Title
to Assets. The Company has good and marketable title to, or a valid leasehold interest in, all of its assets which are material
to the business and operations of the Company as presently conducted, free of any Encumbrance, except as set forth herein and
in the SEC Filings. Except as would not have a Material Adverse Effect, the Company’s assets are in good operating condition
and repair, ordinary wear and tear excepted, and are free of any latent or patent defects which might impair their usefulness,
and are suitable for the purposes for which they are currently used and for the purposes for which they are proposed to be used.

 

H.       Compliance
with Laws. The Company is and at all times has been in full compliance with all Laws, except for any instances which would
not have a Material Adverse Effect. The Company has not received any notice that it is in violation of, has violated, or is under
investigation with respect to, or has been threatened to be charged with, any violation of any Law.

 

I.        Labor
and Employment Matters. The Company is not involved in any labor dispute or, to the knowledge of the Company, is any such
dispute threatened. To the knowledge of the Company and its officers, none of the Company’s employees is a member of a union
and the Company believes that its relations with its employees are good. To the knowledge of the Company and its officers, the
Company has complied in all material respects with all Laws relating to employment matters, civil rights and equal employment
opportunities.

 

    	 	6	 

     

    

 

J.       Employee
Benefit Plans. Except as disclosed to YA in writing prior to the date hereof, the Company does not have and has not ever maintained,
and has no Obligations with respect to any employee benefit plans or arrangements, including employee pension benefit plans, as
defined in Section 3(2) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), multiemployer
plans, as defined in Section 3(37) of ERISA, employee welfare benefit plans, as defined in Section 3(1) of ERISA, deferred compensation
plans, stock option plans, bonus plans, stock purchase plans, hospitalization, disability and other insurance plans, severance
or termination pay plans and policies, whether or not described in Section 3(3) of ERISA, in which employees, their spouses or
dependents of the Company participate (collectively, the “Employee Benefit Plans”). To the Company’s knowledge,
all Employee Benefit Plans meet the minimum funding standards of Section 302 of ERISA, where applicable, and each such Employee
Benefit Plan that is intended to be qualified within the meaning of Section 401 of the Internal Revenue Code of 1986 is qualified.
No withdrawal liability has been incurred under any such Employee Benefit Plans and no “Reportable Event” or “Prohibited
Transaction” (as such terms are defined in ERISA), has occurred with respect to any such Employee Benefit Plans, unless
approved by the appropriate Governmental Authority. To the Company’s knowledge, the Company has promptly paid and discharged
all Obligations arising under ERISA of a character which if unpaid or unperformed might result in the imposition of an Encumbrance
against any of its Assets or otherwise have a Material Adverse Effect.

 

K.      Tax
Matters. The Company has made and timely filed all Tax Returns required by any jurisdiction to which it is subject, and each
such Tax Return has been prepared in compliance with all applicable Laws, and all such Tax Returns are true and accurate in all
respects. Except and only to the extent that the Company has set aside on its books provisions reasonably adequate for the payment
of all unpaid and unreported Taxes, the Company has timely paid all Taxes shown or determined to be due on such Tax Returns, except
those being contested in good faith, and the Company has set aside on its books provision reasonably adequate for the payment
of all Taxes for periods subsequent to the periods to which such Tax Returns apply. There are no unpaid Taxes in any material
amount claimed to be due by the taxing authority of any jurisdiction, and the officers of the Company know of no basis for any
such claim. The Company has withheld and paid all Taxes to the appropriate Governmental Authority required to have been withheld
and paid in connection with amounts paid or owing to any Person. There is no Proceeding or Claim for refund now in progress, pending
or threatened against or with respect to the Company regarding Taxes.

 

L.       Insurance.
The Company is covered by valid, outstanding and enforceable policies of insurance which were issued to it by reputable insurers
of recognized financial responsibility, covering its properties, Assets and businesses against losses and risks normally insured
against by other corporations or entities in the same or similar lines of businesses as the Company is engaged and in coverage
amounts which are prudent and typically and reasonably carried by such other corporations or entities (the “Insurance Policies”).
Such Insurance Policies are in full force and effect, and all premiums due thereon have been paid. None of the Insurance Policies
will lapse or terminate as a result of the transactions contemplated by this Agreement. The Company has complied with the provisions
of such Insurance Policies. The Company has not been refused any insurance coverage sought or applied for and the Company does
not have any reason to believe that it will not be able to renew its existing Insurance Policies as and when such Insurance Policies
expire or to obtain similar coverage from similar insurers as may be necessary to continue its business at a cost that would not
materially and adversely affect the condition, financial or otherwise, or the earnings, business or operations of the Company.

 

    	 	7	 

     

    

 

M.       Permits.
The Company possesses all Permits necessary to conduct its business, and the Company has not received any notice of, or is otherwise
involved in any Proceedings relating to, the revocation or modification of any such Permits. All such Permits are valid and in
full force and effect and the Company is in full compliance with the respective requirements of all such Permits.

 

N.       Environmental
Laws. Except as are used in such amounts as are customary in the Company’s Ordinary Course of Business and in compliance
with all applicable Environmental Laws, the Company represents and warrants to YA that: (i) the Company has not generated, used,
stored, treated, transported, manufactured, handled, produced or disposed of any Hazardous Materials, on or off any of the premises
of the Company (whether or not owned by the Company) in any manner which at any time violates any Environmental Law or any Permit,
certificate, approval or similar authorization thereunder; (ii) the operations of the Company comply in all material respects
with all Environmental Laws and all Permits certificates, approvals and similar authorizations thereunder; (iii) there has been
no investigation, Proceeding, complaint, order, directive, Claim, citation or notice by any Governmental Authority or any other
Person, nor is any pending or, to the Company’s knowledge, threatened; and (iv) the Company does not have any liability,
contingent or otherwise, in connection with a release, spill or discharge, threatened or actual, of any Hazardous Materials or
the generation, use, storage, treatment, transportation, manufacture, handling, production or disposal of any Hazardous Material.

 

O.       Illegal
Payments. Neither the Company, nor any director, officer, agent, employee or other Person acting on behalf of the Company
has, in the course of his actions for, or on behalf of, the Company: (i) used any corporate funds for any unlawful contribution,
gift, entertainment or other unlawful expenses relating to political activity; (ii) made any direct or indirect unlawful payment
to any foreign or domestic government official or employee from corporate funds; (iii) violated or is in violation of any provision
of the U.S. Foreign Corrupt Practices Act of 1977, as amended; or (iv) made any bribe, rebate, payoff, influence payment, kickback
or other unlawful payment to any foreign or domestic government official or employee.

 

P.       Related
Party Transactions. Except for arm’s length transactions pursuant to which the Company makes payments in the Ordinary
Course of Business upon terms no less favorable than the Company could obtain from third parties, and except as described in the
SEC filings, none of the officers, directors or employees of the Company, nor any stockholders who own, legally or beneficially,
five percent (5%) or more of the issued and outstanding shares of any class of the Company’s capital stock (each a “Material
Shareholder”), is presently a party to any transaction with the Company (other than for services as employees, officers
and directors), including any Contract providing for the furnishing of services to or by, providing for rental of real or personal
property to or from, or otherwise requiring payments to or from, any officer, director or such employee or Material Shareholder
or, to the best knowledge of the Company, any other Person in which any officer, director, or any such employee or Material Shareholder
has a substantial or material interest in or of which any officer, director or employee of the Company or Material Shareholder
is an officer, director, trustee or partner. There are no Claims or disputes of any nature or kind between the Company and any
officer, director or employee of the Company or any Material Shareholder, or between any of them, relating to the Company and
its business.

 

    	 	8	 

     

    

 

Q.       Brokerage
Fees. There is no Person acting on behalf of the Company who is entitled to or has any claim for any brokerage or finder’s
fee or commission in connection with the execution of this Agreement or the consummation of the transactions contemplated hereby..

 

R.       No
General Solicitation. Neither the Company, nor any of its Affiliates, nor any Person acting on its or their behalf, has engaged
in any form of general solicitation or general advertising (within the meaning of Regulation D under the Securities Act) in connection
with the issuance of the Registrable Shares.

 

S.       No
Disqualification Events. With respect to the Registrable Shares issued hereunder in reliance on Rule 506 under the Securities
Act, none of the Company, any of its predecessors, any affiliated issuer, any director, executive officer, other officer of the
Company participating in the offering hereunder, any beneficial owner of 20% or more of the Company’s outstanding voting
equity securities, calculated on the basis of voting power, nor any promoter (as that term is defined in Rule 405 under the Securities
Act) connected with the Company in any capacity at the time of sale (each, an "Issuer Covered Person" and, together,
"Issuer Covered Persons") is subject to any of the "Bad Actor" disqualifications described in Rule 506(d)(1)(i)
to (viii) under the Securities Act (a "Disqualification Event"), except for a Disqualification Event covered by Rule
506(d)(2) or (d)(3). The Company has exercised reasonable care to determine whether any Issuer Covered Person is subject to a
Disqualification Event. The Company has complied, to the extent applicable, with its disclosure obligations under Rule 506(e),
and has furnished to YA a copy of any disclosures provided thereunder.

 

T.       Management.
During the past ten-year period, no current officer or director or, to the knowledge of the Company, no current five percent (5%)
or greater stockholder of the Company has been the subject of:

 

(i)       a
petition under bankruptcy laws or any other insolvency or moratorium law or the appointment by a court of a receiver, fiscal agent
or similar officer for such Person, or any partnership in which such person was a general partner at or within two years before
the filing of such petition or such appointment, or any corporation or business association of which such person was an executive
officer at or within two years before the time of the filing of such petition or such appointment;

 

(ii)      a
conviction in a criminal proceeding or a named subject of a pending criminal proceeding (excluding traffic violations that do
not relate to driving while intoxicated or driving under the influence);

 

    	 	9	 

     

    

 

(iii)     any
order, judgment or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently
or temporarily enjoining any such person from, or otherwise limiting, the following activities:

 

(1)       Acting
as a futures commission merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker, leverage
transaction merchant, any other person regulated by the United States Commodity Futures Trading Commission or an associated person
of any of the foregoing, or as an investment adviser, underwriter, broker or dealer in securities, or as an affiliated person,
director or employee of any investment company, bank, savings and loan association or insurance company, or engaging in or continuing
any conduct or practice in connection with such activity;

 

(2)       Engaging
in any particular type of business practice; or

 

(3)       Engaging
in any activity in connection with the purchase or sale of any security or commodity or in connection with any violation of securities
laws or commodities laws;

 

(iv)     any
order, judgment or decree, not subsequently reversed, suspended or vacated, of any authority barring, suspending or otherwise
limiting for more than sixty (60) days the right of any such person to engage in any activity described in the preceding sub paragraph,
or to be associated with persons engaged in any such activity;

 

(v)      a
finding by a court of competent jurisdiction in a civil action or by the SEC or other authority to have violated any securities
law, regulation or decree and the judgment in such civil action or finding by the SEC or any other authority has not been subsequently
reversed, suspended or vacated; or

 

(vi)    a
finding by a court of competent jurisdiction in a civil action or by the Commodity Futures Trading Commission to have violated
any federal commodities law, and the judgment in such civil action or finding has not been subsequently reversed, suspended or
vacated.

 

U.     Full
Disclosure. All the representations and warranties made by Company herein or in the Schedules hereto, and all of the financial
statements, schedules, certificates, confirmations, agreements, contracts, and other materials submitted to YA in connection with
or in furtherance of this Agreement or pertaining to the transaction contemplated herein, whether made or given by Company, its
agents or representatives, are complete and accurate to the best of the knowledge of the Company, its officers and directors,
and do not omit any information required to make the statements and information provided, in light of the transaction contemplated
herein and in light of the circumstances under which they were made, not misleading, accurate and meaningful.

 

    	 	10	 

     

    

 

INDEMNIFICATION

 

A.       Indemnification
by the Company. The Company will indemnify and hold YA and its directors, officers, stockholders, members, partners, employees
and agents (and any other Persons with a functionally equivalent role of a Person holding such titles notwithstanding a lack of
such title or any other title), each Person who controls YA (within the meaning of Section 15 of the 1933 Act and Section 20 of
the Exchange Act), and the directors, officers, stockholders, agents, members, partners or employees (and any other Persons with
a functionally equivalent role of a Person holding such titles notwithstanding a lack of such title or any other title) of such
controlling person (each, a “YA Party”) harmless from any and all losses, liabilities, obligations, claims, contingencies,
damages, costs and expenses, including all judgments, amounts paid in settlements, court costs and reasonable attorneys’
fees and costs of investigation that any such YA Party may suffer or incur as a result of (i) any breach of any of the representations,
warranties, covenants or agreements made by the Company in this Agreement or (ii) any action instituted against a YA Party in
any capacity, or any of them or their respective Affiliates, by any stockholder of the Company who is not an Affiliate of such
YA Party, with respect to any of the transactions contemplated by this Agreement. The Company will not be liable to any YA Party
under this Agreement to the extent, but only to the extent that a loss, claim, damage or liability is attributable to any YA Party’s
breach of any of the representations, warranties, covenants or agreements made by such YA Party in this Agreement; provided that
such a claim for indemnification relating to any breach of any of the representations or warranties made by the Company in this
Agreement is made within 24 months from the Closing.

 

B.       Conduct
of Indemnification Proceedings. Promptly after receipt by any Person (the “Indemnified Person”) of notice of any
demand, claim or circumstances which would or might give rise to a claim or the commencement of any action, proceeding or investigation
in respect of which indemnity may be sought, such Indemnified Person shall promptly notify the Company in writing and the Company
shall assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Person, and
shall assume the payment of all fees and expenses; provided, however, that the failure of any Indemnified Person so to notify
the Company shall not relieve the Company of its obligations hereunder except to the extent that the Company is actually and materially
and adversely prejudiced by such failure to notify. In any such proceeding, any Indemnified Person shall have the right to retain
its own counsel, but the fees and expenses of such counsel shall be at the expense of such Indemnified Person unless: (i) the
Company and the Indemnified Person shall have mutually agreed to the retention of such counsel; (ii) the Company shall have failed
promptly to assume the defense of such proceeding and to employ counsel reasonably satisfactory to such Indemnified Person in
such proceeding; or (iii) in the reasonable judgment of counsel to such Indemnified Person, representation of both parties by
the same counsel would be inappropriate due to actual or potential differing interests between them. The Company shall not be
liable for any settlement of any proceeding effected without its written consent, which consent shall not be unreasonably withheld,
delayed or conditioned. Without the prior written consent of the Indemnified Person, which consent shall not be unreasonably withheld,
delayed or conditioned, the Company shall not effect any settlement of any pending or threatened proceeding in respect of which
any Indemnified Person is or could have been a party and indemnity could have been sought hereunder by such Indemnified Party,
unless such settlement includes an unconditional release of such Indemnified Person from all liability arising out of such proceeding.

 

 

11

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00277-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00277-of-00352.parquet"}]]