Document:

Exhibit 4.2

 

Execution Version

 

WILLIAMS SCOTSMAN, INC.

 

as Issuer

 

and

 

THE GUARANTORS PARTY HERETO

 

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4.625% SENIOR SECURED NOTES DUE 2028

 

————————————————

 

SUPPLEMENTAL INDENTURE

 

DATED AS OF DECEMBER 23, 2021

 

————————————————

 

DEUTSCHE BANK TRUST COMPANY AMERICAS

 

as Trustee and Collateral Agent

 

     

     

    

 

This SUPPLEMENTAL INDENTURE, dated as of December
23, 2021, is by Williams Scotsman, Inc., a Maryland corporation (the “Company”), each of the parties identified under
the caption “Guarantors” on the signature page hereto (the “Guarantors”), Deutsche Bank Trust Company Americas,
as trustee (in such capacity and not in its individual capacity, the “Trustee”), and Deutsche Bank Trust Company Americas,
as collateral agent (in such capacity and not in its individual capacity, the “Collateral Agent”).

 

RECITALS

 

WHEREAS, Williams Scotsman International, Inc.,
a Delaware corporation (the “WSII”), the guarantors party thereto, the Trustee and the Collateral Agent entered into
an Indenture, dated as of August 25, 2020 (as amended or supplemented from time to time, the “Indenture”), pursuant
to which WSII initially issued $500,000,000 in principal amount of 4.625% Senior Secured Notes due 2028 (the “Notes”);

 

WHEREAS, on the date hereof, WSII is merging with
and into the Company, the Company being the surviving Person of such merger and WSII ceasing to exist (the “Merger”);

 

WHEREAS, Section 5.1 of the
Indenture permits, among other things, a consolidation or amalgamation of WSII with, or a merger of WSII with or into, any other Person;
provided that such Surviving Entity shall expressly assume by supplemental indenture all of the Obligations of WSII under the Indenture
and each guarantor, unless it is the Surviving Entity, shall by supplemental indenture confirm that its Note Guarantee shall apply to
the Successor Entity’s obligations under the Indenture and the Notes;

 

WHEREAS, Section 9.1(2) of the Indenture provides
that WSII, the Guarantors, the Trustee and the Collateral Agent, as applicable, may supplement the Indenture in order to evidence the
succession of another Person and the assumption by any such successor of the covenants and other obligations under the Indenture, without
the consent of the Holders; and

 

WHEREAS, all acts and procedures prescribed by
the Indenture to make this Supplemental Indenture a legally valid and binding instrument on the Company, the Guarantors, the Trustee and
the Collateral Agent, in accordance with its terms, have been duly done and performed.

 

NOW, THEREFORE, in compliance with the provisions
of the Indenture and in consideration of the above premises, the Company, the Guarantors, the Trustee and the Collateral Agent covenant
and agree for the equal and proportionate benefit of the respective Holders of the Notes as follows:

 

		(1)	Effective upon consummation of the Merger, the Company, pursuant to Article 5 of the Indenture, hereby
expressly assumes and agrees to pay, perform and/or discharge when due each and every debt, obligation, covenant and agreement incurred,
made or to be paid, performed or discharged by WSII under the Indenture and the Notes. The Company hereby agrees to be bound by all the
terms, provisions and conditions of the Indenture and the Notes to which WSII was theretofore bound, and, as the surviving entity, shall
succeed to, and be substituted for, and may exercise every right and power of, WSII under the Indenture and the Notes, and WSII is relieved
of all of its obligations and duties under the Indenture and the Notes.

 

    1

     

    

 

		(2)	This Supplemental Indenture is supplemental to the Indenture and does and shall be deemed to form a part
of, and shall be construed in connection with and as part of, the Indenture for any and all purposes.

 

		(3)	This Supplemental Indenture shall become effective immediately upon its execution and delivery by each
of the Company, the Guarantors, the Trustee and the Collateral Agent.

 

		(4)	From this date, by executing this Supplemental Indenture, the Company is subject to the provisions of
the Indenture to the extent applicable.

 

		(5)	Each Guarantor, by executing this Supplemental Indenture, hereby confirms that its respective Note Guarantee
shall apply to the Company’s obligations under the Indenture and the Notes.

 

		(6)	Except as specifically modified herein, the Indenture and the Notes are in all respects ratified and confirmed
(mutatis mutandis) and shall remain in full force and effect in accordance with their terms with all capitalized terms used herein
without definition having the same respective meanings ascribed to them as in the Indenture.

 

		(7)	Except as otherwise expressly provided herein, no duties, responsibilities or liabilities are assumed,
or shall be construed to be assumed, by the Trustee or the Collateral Agent by reason of this Supplemental Indenture. This Supplemental
Indenture is executed and accepted by the Trustee and the Collateral Agent subject to all the terms and conditions set forth in the Indenture
with the same force and effect as if those terms and conditions were repeated at length herein and made applicable to the Trustee and
the Collateral Agent with respect hereto.

 

		(8)	No past, present or future director, officer, employee, incorporator, stockholder, partner, member or
joint venturer of the Company or any Guarantor, as such, shall have any liability for any obligations of the Company or any Guarantor
under the Notes, any Note Guarantees, the Indenture or this Supplemental Indenture or for any claim based on, in respect of, or by reason
of, such obligations or their creation. Each Holder of the Notes by accepting a Note waives and releases all such liability. The waiver
and release are part of the consideration for issuance of the Notes.

 

		(9)	NEW YORK LAW TO GOVERN. THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE
THIS SUPPLEMENTAL INDENTURE.

 

		(10)	The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an
original, but all of such executed copies together shall represent the same agreement. Delivery of an executed counterpart of a signature
page to this Supplemental Indenture by telecopier, facsimile or other electronic transmission (i.e. “pdf”, “docusign”
or “tif”) shall be effective as delivery of a manually executed counterpart thereof.

 

[NEXT PAGE IS SIGNATURE PAGE]

 

    2

     

    

 

IN WITNESS WHEREOF, the parties
hereto have caused this Indenture to be duly executed, all as of the date first written above.

 

	 	WILLIAMS SCOTSMAN, INC., 
	 	as the Company
	 	 
	 	By: 	/s/ Timothy D. Boswell
	 	 	Name:	 Timothy D. Boswell
	 	 	Title:	 President & Chief Financial Officer
	 	 	 	 
	 	Williams Scotsman HOLDINGS CORP.,
	 	as Guarantor
	 	 
	 	By: 	/s/ Timothy D. Boswell
	 	 	Name:	 Timothy D. Boswell
	 	 	Title:	 President & Chief Financial Officer
	 	 	 	 
	 	WillSCOT EQUIPMENT II, LLC,
	 	as Guarantor
	 	 
	 	By:	/s/ Timothy D. Boswell
	 	 	Name:	 Timothy D. Boswell
	 	 	Title: 	President & Chief Financial Officer
	 	 	 	 
	 	NEW ACTON MOBILE INDUSTRIES LLC,
	 	as Guarantor
	 	 	 	 
	 	By: 	/s/ Timothy D. Boswell
	 	 	Name:	 Timothy D. Boswell
	 	 	Title:	 President & Chief Financial Officer
	 	 	 	 
	 	ONSITE SPACE LLC,
	 	as Guarantor
	 	 	 	 
	 	By:  	/s/ Timothy D. Boswell
	 	 	Name:	 Timothy D. Boswell
	 	 	Title: 	President & Chief Financial Officer
	 	 	 	 
	 	ACTon mobile holdings llc,
	 	as Guarantor
	 	 	 	 
	 	By:  	/s/ Timothy D. Boswell
	 	 	Name:	 Timothy D. Boswell
	 	 	Title:	 President & Chief Financial Officer

 

[Signature Page to Supplemental Indenture]

 

     

     

    

 

	 	modular space, llc,
	 	as Guarantor
	 	 	 	 
	 	By:	/s/ Timothy D. Boswell
	 	 	Name:	 Timothy D. Boswell
	 	 	Title:	 President & Chief Financial Officer
	 	 	 	 
	 	resun modspace, llc,
	 	as Guarantor
	 	 	 	 
	 	By: 	/s/ Timothy D. Boswell
	 	 	Name: 	Timothy D. Boswell
	 	 	Title:	 President & Chief Financial Officer
	 	 	 	 
	 	resun chippewa, llc,
	 	as Guarantor
	 	 
	 	By: 	/s/ Timothy D. Boswell
	 	 	Name:	 Timothy D. Boswell
	 	 	Title:	 President & Chief Financial Officer
	 	 	 	 
	 	Modspace government financial 
	 	services, llc,
	 	as Guarantor
	 	 
	 	By:	/s/ Timothy D. Boswell
	 	 	Name:	 Timothy D. Boswell
	 	 	Title:	 President & Chief Financial Officer
	 	 	 	 
	 	Mobile Mini, Inc.,
	 	as Guarantor
	 	 
	 	By:	/s/ Timothy D. Boswell
	 	 	Name:	 Timothy D. Boswell
	 	 	Title:	 President & Chief Financial Officer
	 	 	 	 
	 	Mobile Mini I, Inc.,
	 	as Guarantor
	 	 
	 	By: 	/s/ Timothy D. Boswell
	 	 	Name:	 Timothy D. Boswell
	 	 	Title: 	President & Chief Financial Officer

 

[Signature Page to Supplemental Indenture]

 

     

     

    

 

	 	Mobile Mini, LLC 
	 	(California),
	 	as Guarantor
	 	 
	 	By:	/s/ Timothy D. Boswell
	 	 	Name: 	Timothy D. Boswell
	 	 	Title:	 President & Chief Financial Officer
	 	 	 	 
	 	Mobile Mini, LLC 
	 	(Delaware),
	 	as Guarantor
	 	 
	 	By: 	/s/ Timothy D. Boswell
	 	 	Name:	 Timothy D. Boswell
	 	 	Title:	 President & Chief Financial Officer
	 	 	 	 
	 	Gulf Tanks Holdings, Inc.,
	 	as Guarantor
	 	 
	 	By:	/s/ Timothy D. Boswell
	 	 	Name:	 Timothy D. Boswell
	 	 	Title:	 President & Chief Financial Officer
	 	 	 	 
	 	Mobile Mini Tank and Pump Solutions, Inc.,
	 	as Guarantor
	 	 
	 	By: 	/s/ Timothy D. Boswell
	 	 	Name:	 Timothy D. Boswell
	 	 	Title: 	President & Chief Financial Officer
	 	 	 	 
	 	Water Movers Contracting, LLC,
	 	as Guarantor
	 	 
	 	By: 	/s/ Timothy D. Boswell
	 	 	Name:	 Timothy D. Boswell
	 	 	Title:	 President & Chief Financial Officer

 

[Signature Page to Supplemental Indenture]

 

     

     

    

 

	 	DEUTSCHE BANK TRUST COMPANY AMERICAS, 
	 	as Trustee
	 	 
	 	By:	/s/ Irina Golovashchuk
	 	 	Name:	 Irina Golovashchuk
	 	 	Title: 	Vice President
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Jeffrey Schoenfeld
	 	 	Name: 	Jeffrey Schoenfeld
	 	 	Title: 	Vice President
	 	 	 	 
	 	 	 	 
	 	DEUTSCHE BANK TRUST COMPANY AMERICAS, 
	 	as Collateral Agent
	 	 	 	 
	 	By:	/s/ Irina Golovashchuk
	 	 	Name:	 Irina Golovashchuk
	 	 	Title: 	Vice President
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Jeffrey Schoenfeld
	 	 	Name: 	Jeffrey Schoenfeld
	 	 	Title: 	Vice President

 

[Signature Page to Supplemental Indenture]a1007420192v1-dzemployme

December 20, 2021  David Zaslav  c/o Discovery, Inc.   230 South Park Avenue  New York, NY 10003  Payment and Distribution Schedule for Post-2021 PRSUs  Dear David:  Effective as of the date hereof, this letter amends Section 4(e) of your Amended and Restated  Employment Agreement with Discovery, Inc. (the “Company”), dated May 16, 2021 (the “Employment  Agreement”).  Capitalized terms used here in without definition shall have the meanings ascribed thereto  in the Employment Agreement.  Except as expressly set forth below, your Employment Agreement shall  continue and in full force and effect.    To the extent that you earn all or any portion of a tranche of PRSUs to be granted in calendar  years 2022, 2023, 2024, 2025, 2026 and 2027 pursuant to Section 4(e)(ii) of the Employment Agreement,  70% of the earned PRSUs shall be paid and distributed to you in the calendar year immediately following  the end of the applicable one (1)-year performance period, as soon as practicable following the  Compensation Committee’s determination of  performance for such performance period and the remaining  30% of the earned PRSUs shall be paid and distributed to you as soon as practicable after the beginning  of the second calendar year following the end of the applicable performance period.  Notwithstanding this  letter agreement, all PRSUs granted prior to 2022 pursuant to the Prior Agreement and referenced in  Section 4(e)(i) of the Employment Agreement that have been or are hereafter determined by the  Compensation Committee to have been earned and vested shall in all events continue to be payable and  distributed to you at the time or times specified under the Prior Agreement and in the applicable grant  agreements for such PRSUs.    If you agree that the foregoing sets forth our understanding regarding the payment and  distribution schedule applicable to the PRSUs to be granted to you for your services to be rendered in  2022, 2023, 2024, 2025, 2026 and 2027, please sign both copies of this letter keeping one for your  records and returning the other to General Counsel, Discovery, Inc., 230 Park Avenue South, New York,  NY 10003.           Sincerely,       Discovery, Inc.          /s/ Bruce Campbell     By: Bruce Campbell     Its: Chief Development, Distribution and   Legal Officer        Agreed and Accepted:  /s/ David Zaslav    David Zaslav

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