Document:

STOCK OPTION AGREEMENT

 

AGREEMENT,
made as of the 14th day of August, 2014 by and between Mojo Organics, Inc., a Delaware corporation (“Company”),
and _____________ (“Employee”).

WHEREAS,
pursuant to the terms and conditions of the Company’s 2012 Long-Term Incentive Equity Plan (“Plan”), the Board
of Directors of the Company (“Board”) authorized the grant to the Employee of an option (“Option”) to purchase
an aggregate of _______ shares of the authorized but unissued common stock of the Company, $0.001 par value (“Common Stock”),
conditioned upon the Employee’s acceptance thereof upon the terms and conditions set forth in this Agreement and subject
to the terms of the Plan (capitalized terms used herein and not otherwise defined have the meanings set forth in the Plan); and

WHEREAS,
the Employee desires to acquire the Option on the terms and conditions set forth in this Agreement and subject to the terms of
the Plan;

IT IS AGREED:

1.                 
Grant of Stock Option. The Company hereby grants to the Employee the right and option
to purchase all or any part of an aggregate of ___________ shares of the Common Stock (“Option Shares”) on the terms
and conditions set forth herein and subject to the provisions of the Plan.

2.                 
Non-Incentive Stock Option. The Option represented hereby is not intended to be an
Option that qualifies as an “Incentive Stock Option” under Section 422 of the Internal Revenue Code of 1986, as amended.

3.                 
Exercise Price. The exercise price (“Exercise Price”) of the Option is
$0.255 per share, subject to adjustment as hereinafter provided.

4.                 
Exercisability. Subject to the terms and conditions of the Plan and this Agreement,
this Option shall become exercisable (a) on February 14, 2015, _____ of the Option Shares shall become exercisable; (b) on August
14, 2015, _____ of the Option Shares shall become exercisable; (c) on February 14, 2016, _____ of the Option Shares shall become
exercisable; and (d) on August 14, 2016 the remaining _____ Option Shares shall become exercisable (the “Exercise Period”).

5.                 
Effect of Termination of Employment.

5.1.           
Termination Due to Death. If Employee’s employment by the Company terminates
by reason of death, the portion of the Option, if any, that was exercisable as of the date of death may thereafter be exercised
by the legal representative of the estate or by the legatee of the Employee under the will of the Employee, for a period of six
months from the date of such death or until the expiration of the Exercise Period, whichever period is shorter. The portion of
the Option, if any, that was not exercisable as of the date of death shall immediately terminate upon death.

5.2.           
Termination Due to Disability. If Employee’s employment by the Company terminates
by reason of Disability, the portion of the Option, if any, that was exercisable as of the date of termination of employment may
thereafter be exercised by the Employee or legal representative for a period of six months from the date of such termination or
until the expiration of the Exercise Period, whichever period is shorter. The portion of the Option, if any, that was not exercisable
as of the date of disability shall immediately terminate upon disability.

5.3.           
Termination Due to Retirement. If Employee’s employment by the Company terminates
due to Normal Retirement, then the portion of the Option that was exercisable as of the date of termination of employment may be
exercised for a period of six months from the date of such termination or until the expiration of the Exercise Period, whichever
is shorter. The portion of the Option not yet exercisable on the date of termination of employment shall immediately expire.

5.4.           
Termination by the Company Without Cause. If Employee’s employment is terminated
by the Company without cause, then the portion of the Option which has vested by the date of termination of employment may be exercised
for a period of three months from termination of employment or until the expiration of the Exercise Period, whichever is shorter.
The portion of the Option, if any, not yet exercisable on the date of termination of employment shall immediately expire.

5.5.           
Other Termination.

5.5.1.     
If Employee’s employment is terminated for any reason other than (i) death, (ii)
Disability, (iii) Normal Retirement, or (iv) without cause by the Company, the Option shall expire on the date of termination
of employment.

5.5.2.     
In the event the Employee’s employment is terminated by the Company for cause, the Board,
in its sole discretion, may annul any award granted hereunder and require the Employee to return to the Company the economic benefit
of any Option Shares purchased hereunder by the Employee within the six month period prior to the date of termination. In such
event, the Employee hereby agrees to remit to the Company, in cash, an amount equal to the difference between the Fair Market Value
of the Option Shares on the date of termination (or the sales price of such Shares if the Option Shares were sold during such six
month period) and the Exercise Price of such Shares. 

5.6.           
Competing With the Company. If Employee’s employment with the Company or a Subsidiary
is terminated for any reason whatsoever, and within 12 months after the date thereof such Employee either (i) accepts employment
with any competitor of, or otherwise engages in competition with, the Company or any of its Subsidiaries, (ii) solicits any customers
or employees of the Company or any of its Subsidiaries to do business with or render services to the Employee or any business with
which the Employee becomes affiliated or to which the Employee renders services or (iii) uses or discloses to anyone outside the
Company any confidential information or material of the Company or any of its Subsidiaries in violation of the Company’s
policies or any agreement between the Employee and the Company or any of its Subsidiaries, the Board, in its sole discretion, may
require such Employee to return to the Company the economic value of any award that was realized or obtained by such Employee at
any time during the period beginning on the date that is six months prior to the date such Employee’s employment with the
Company is terminated. In such event, Employee agrees to remit the economic value to the Company in accordance with Section 5.5.2.

6.                 
Withholding Tax. Not later than the date as of which an amount first becomes includible
in the gross income of the Employee for Federal income tax purposes with respect to the Option, the Employee shall pay to the Company,
or make arrangements satisfactory to the Board regarding the payment of, any Federal, state and local taxes of any kind required
by law to be withheld or paid with respect to such amount (“Withholding Tax”). The obligations of the Company under
the Plan and pursuant to this Agreement shall be conditional upon such payment or arrangements with the Company and the Company
shall, to the extent permitted by law, have the right to deduct any Withholding Taxes from any payment of any kind otherwise due
to the Employee from the Company.

7.                 
Adjustments. In the event of any change in the shares of Common Stock of the Company
as a whole occurring as the result of a common stock split, or reverse split, common stock dividend payable on shares of Common
Stock, combination or exchange of shares, or other extraordinary or unusual event occurring after the grant of the Option, the
Board shall determine, in its sole discretion, whether such change equitably requires an adjustment in the terms of this Option
or the aggregate number of shares reserved for issuance under the Plan. Any such adjustments will be made by the Board, whose determination
will be final, binding and conclusive.

8.                 
Method of Exercise.

8.1.           
Notice to the Company. The Option shall be exercised in whole or in part by written
notice in substantially the form attached hereto as Exhibit A directed to the Company at its principal place of business accompanied
by full payment as hereinafter provided of the exercise price for the number of Option Shares specified in the notice and of the
Withholding Taxes, if any.

8.2.           
Delivery of Option Shares. The Company shall deliver a certificate for the Option Shares
to the Employee as soon as practicable after payment therefor.

8.3.           
Payment of Purchase Price.

8.3.1.     
Cash Payment. The Employee shall make cash payments by wire transfer, certified or
bank check or personal check, in each case payable to the order of the Company; the Company shall not be required to deliver certificates
for Option Shares until the Company has confirmed the receipt of good and available funds in payment of the purchase price thereof.

8.3.2.     
Cashless Payment. Provided that prior approval of the Company has been obtained, the
Employee may use Common Stock of the Company owned by him or her to pay the purchase price for the Option Shares by delivery of
stock certificates in negotiable form which are effective to transfer good and valid title thereto to the Company, free of any
liens or encumbrances. Shares of Common Stock used for this purpose shall be valued at the Fair Market Value on the date of exercise.

8.3.3.     
Payment of Withholding Tax. Any required Withholding Tax may be paid in cash or with
Common Stock in accordance with Sections 8.3.1 and 8.3.2.

8.3.4.     
Exchange Act Compliance. Notwithstanding the foregoing, the Company shall have the
right to reject payment in the form of Common Stock if in the opinion of counsel for the Company, (i) it could result in an
event of “recapture” under Section 16(b) of the Securities Exchange Act of 1934; (ii) such shares of Common Stock
may not be sold or transferred to the Company; or (iii) such transfer could create legal difficulties for the Company.

9.                 
Transfer. Except as may be set forth in the next sentence of this Section or in the
Agreement, the Stock Option shall not be transferable by the Employee other than by will or by the laws of descent and distribution,
and the Option shall be exercisable, during the Employee’s lifetime, only by the Employee (or, to the extent of legal incapacity
or incompetency, the Employee’s guardian or legal representative).

10.             
Company Representations. The Company hereby represents and warrants to the Employee
that:

(i)                
the Company, by appropriate and all required action, is duly authorized to enter into this
Agreement and consummate all of the transactions contemplated hereunder; and

(ii)              
the Option Shares, when issued and delivered by the Company to the Employee in accordance
with the terms and conditions hereof, will be duly and validly issued and fully paid and non-assessable.

11.             
Employee Representations. The Employee hereby represents and warrants to the Company
that:

(i)                
he or she is acquiring the Option and shall acquire the Option Shares for his own account
and not with a view towards the distribution thereof;

(ii)              
he or she has received a copy of the Plan as in effect as of the date of this Agreement;

(iii)            
he or she has received a copy of all reports and documents required to be filed by the Company
with the Securities and Exchange Commission pursuant to the Exchange Act, within the last 24 months and all reports issued by the
Company to its stockholders;

(iv)            
he or she understands that he or she is subject to the Company’s Insider Trading Policy
and has received a copy of such policy as of the date of this Agreement;

(v)              
he or she understands that he or she must bear the economic risk of the investment in the
Option Shares, which cannot be sold by him or her unless they are registered under the Securities Act of 1933 (“1933 Act”)
or an exemption therefrom is available thereunder and that the Company is under no obligation to register the Option Shares for
sale under the 1933 Act;

(vi)            
in his or her position with the Company, he or she has had both the opportunity to ask questions
and receive answers from the officers and directors of the Company and all persons acting on its behalf concerning the terms and
conditions of the offer made hereunder and to obtain any additional information to the extent the Company possesses or may possess
such information or can acquire it without unreasonable effort or expense necessary to verify the accuracy of the information obtained
pursuant to clause (iii) above;

(vii)          
he or she is aware that the Company shall place stop transfer orders with its transfer agent
against the transfer of the Option Shares in the absence of registration under the 1933 Act or an exemption therefrom as provided
herein; and

(viii)        
if, at the time of issuance of the Option Shares, the issuance of such shares have not been
registered under the 1933 Act, the certificates evidencing the Option Shares shall bear the following legends:

“The shares represented
by this certificate have been acquired for investment and have not been registered under the Securities Act of 1933. The shares
may not be sold or transferred in the absence of such registration or an exemption therefrom under said Act.”

“The shares represented
by this certificate have been acquired pursuant to a Stock Option Agreement dated as of August 14, 2014, a copy of which is on
file with the Company, and may not be transferred, pledged or disposed of except in accordance with the terms and conditions thereof."

12.             
Restriction on Transfer of Option Shares. Anything in this Agreement to the contrary
notwithstanding, the Employee hereby agrees that he or she shall not sell, transfer by any means or otherwise dispose of the Option
Shares acquired by him or her without registration under the 1933 Act, or in the event that they are not so registered, unless
(i) an exemption from the 1933 Act registration requirements is available thereunder, (ii) the Employee has furnished
the Company with notice of such proposed transfer and the Company’s legal counsel, in its reasonable opinion, shall deem
such proposed transfer to be so exempt, and (iii) such transfer is in compliance with the Company’s Insider Trading Policy,
as in effect at such time.

13.             
Miscellaneous.

13.1.       
Notices. All notices, requests, deliveries, payments, demands and other communications
which are required or permitted to be given under this Agreement shall be in writing and shall be either delivered personally or
sent by registered or certified mail, or by private courier to the parties at their respective addresses set forth herein, or to
such other address as either party shall have specified by notice in writing to the other. Notice shall be deemed duly given hereunder
when delivered or mailed as provided herein.

13.2.       
Conflicts with the Plan. In the event of a conflict between the provisions of the Plan
and the provisions of this Agreement, the provisions of the Plan shall in all respects be controlling.

13.3.       
Employee and Stockholder Rights. The Employee shall not have any of the rights of a
stockholder with respect to the Option Shares until such shares have been issued after the due exercise of the Option. Nothing
contained in this Agreement shall be deemed to confer upon Employee any right to continued employment with the Company or any subsidiary
thereof, nor shall it interfere in any way with the right of the Company to terminate Employee in accordance with the provisions
regarding such termination set forth in Employee’s written employment agreement with the Company, or if there exists no such
agreement, to terminate Employee at will. 

13.4.       
Waiver. The waiver by any party hereto of a breach of any provision of this Agreement
shall not operate or be construed as a waiver of any other or subsequent breach.

13.5.       
Entire Agreement. This Agreement constitutes the entire agreement between the parties
with respect to the subject matter hereof. This Agreement may not be amended except by writing executed by the Employee and the
Company.

13.6.       
Binding Effect; Successors. This Agreement shall inure to the benefit of and be binding
upon the parties hereto and, to the extent not prohibited herein, their respective heirs, successors, assigns and representatives.
Nothing in this Agreement, expressed or implied, is intended to confer on any person other than the parties hereto and as provided
above, their respective heirs, successors, assigns and representatives any rights, remedies, obligations or liabilities.

13.7.       
Governing Law. This Agreement shall be governed by and construed in accordance with
the laws of the State of Delaware (without regard to choice of law provisions).

13.8.       
Headings. The headings contained herein are for the sole purpose of convenience of
reference, and shall not in any way limit or affect the meaning or interpretation of any of the terms or provisions of this Agreement.

 

IN WITNESS WHEREOF,
the parties hereto have signed this Agreement as of the day and year first above:

 

	MOJO ORGANICS, INC.	 
	 	 	 
	By:	 	 
	 	Name:	 
	 	Title:	 
	 	 	 
	[OFFICER OF DIRECTOR]:	 
	 	 

 

    	 

    	 

    

EXHIBIT A

 

FORM OF NOTICE OF EXERCISE OF OPTION

 

____________________

DATE

 

MOJO ORGANICS, INC.

101 Hudson Street 21st Floor

Jersey City, New Jersey

Attention: Chief Executive Officer

 

 

Re:Purchase of Option Shares

 

Gentlemen:

 

In accordance with my Stock Option Agreement dated as of 
with Mojo Organics, Inc. (“Company”), I hereby irrevocably elect to exercise the right to purchase _________ shares
of the Company’s common stock, par value $0.001 per share (“Common Stock”), which are being purchased for investment
and not for resale.

 

As payment for my shares, enclosed is (check
and complete applicable box[es]):

 

		☐	a [personal check] [certified check] [bank check] payable to the order of “Mojo Organics, Inc.” in the sum of $_________;

 

		☐	confirmation of wire transfer in the amount of $_____________; and/or

 

		☐	with the consent of the Company, a certificate for __________ shares of the Company’s Common Stock, free and clear of
any encumbrances, duly endorsed, having a Fair Market Value (as such term is defined in the 2012 Long-Term Incentive Equity Plan)
of $_________.

 

I hereby represent and warrant to, and agree
with, the Company that:

(i)                
I am acquiring the Option Shares for my own account, for investment, and not with a view towards
the distribution thereof;

(ii)              
I have received a copy of the Plan and all reports and documents required to be filed by the
Company with the Commission pursuant to the Exchange Act within the last 24 months and all reports issued by the Company to its
stockholders;

(iii)            
I understand that I must bear the economic risk of the investment in the Option Shares, which
cannot be sold by me unless they are registered under the Securities Act of 1933 (“1933 Act”) or an exemption therefrom
is available thereunder and that the Company is under no obligation to register the Option Shares for sale under the 1933 Act;

(iv)            
I agree that I will not sell, transfer by any means or otherwise dispose of the Option Shares
acquired by me hereby except in accordance with Company’s policy, if any, regarding the sale and disposition of securities
owned by employees and/or directors of the Company; 

(v)              
in my position with the Company, I have had both the opportunity to ask questions and receive
answers from the officers and directors of the Company and all persons acting on its behalf concerning the terms and conditions
of the offer made hereunder and to obtain any additional information to the extent the Company possesses or may possess such information
or can acquire it without unreasonable effort or expense necessary to verify the accuracy of the information obtained pursuant
to clause (ii) above;

(vi)            
my rights with respect to the Option Shares shall, in all respects, be subject to the terms
and conditions of the Company’s 2012 Long-Term Incentive Equity Plan and the Agreement.

(vii)          
I am aware that the Company shall place stop transfer orders with its transfer agent against
the transfer of the Option Shares in the absence of registration under the 1933 Act or an exemption therefrom as provided herein;
and

(viii)        
if, at the time of issuance of the Option Shares, the issuance of such shares have not been
registered under the 1933 Act, the certificates evidencing the Option Shares shall bear the following legends:

 

“The shares represented by this certificate have
been acquired for investment and have not been registered under the Securities Act of 1933. The shares may not be sold or transferred
in the absence of such registration or an exemption therefrom under said Act.”

 

“The shares represented by this certificate have
been acquired pursuant to a Stock Option Agreement dated as of , a copy of which is on file with the Company, and may
not be transferred, pledged or disposed of except in accordance with the terms and conditions thereof."

 

(ix)I am aware and understand that I may
be subject to an Insider Trading Policy.

 

Kindly forward to me my certificate at your earliest convenience.

 

	Very truly yours,	 	 
	 	 	 
	(Signature)	 	(Address)
	 	 	 
	(Print Name)	 	 
	 	 	 
	 	 	(Social Security Number)Exhibit 10.1 Second Amendment

EXECUTION VERSION

SECOND AMENDMENT
SECOND AMENDMENT, dated as of September 29, 2014 (this “Amendment”), to the Credit Agreement, dated as of April 2, 2013 (as amended or modified from time to time, the “Credit Agreement”), among COTY INC. (the “Borrower”), the lenders and agents party thereto and JPMORGAN CHASE BANK, N.A., as administrative agent (the “Administrative Agent”).
W I T N E S S E T H:
WHEREAS, the Borrower has requested that the Lenders agree to amend the Credit Agreement as set forth herein, and the Lenders are willing to agree to such amendments;
NOW, THEREFORE, in consideration of the mutual agreements herein contained and other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the parties hereto hereby agree as follows:
SECTION 1.Defined Terms. Unless otherwise defined herein, any capitalized term defined in the Credit Agreement and used herein shall have the meaning given to such term in the Credit Agreement.
SECTION 2.    Amendments to Credit Agreement. 
(a)    Amendment of Section 1.1.    The following defined terms shall be inserted in Section 1.1 of the Credit Agreement in the appropriate alphabetical order:
“Anti-Corruption Laws” means the United States Foreign Corrupt Practices Act of 1977, the United Kingdom Bribery Act 2010 and any other applicable US federal or state laws or United Kingdom laws concerning or related to bribery or corruption.

 “China Optimization Program” means the China optimization program publicly disclosed in the Borrower’s Annual Report on Form 10-K for the fiscal year ended June 30, 2014.
“Organizational Redesign” means the program associated with the Borrower’s new organizational structure publicly disclosed in the Borrower’s Annual Report on Form 10-K for the fiscal year ended June 30, 2014.
“Sanctions” means economic or financial sanctions or trade embargoes imposed, administered or enforced from time to time by (a) the U.S. government, including those administered by OFAC or the U.S. Department of State, or (b) the United Nations Security Council, the European Union or Her Majesty’s Treasury of the United Kingdom.
“Sanctioned Country” means, at any time, a country or territory which is itself the subject or target of any Sanctions (at the time of this Agreement, including, but not limited to, Cuba, Iran, North Korea, Sudan and Syria).
“Sanctioned Person” means, at any time, (a) any Person listed in any Sanctions-related list of designated Persons maintained by OFAC, the U.S. Department of State, or by the United Nations Security Council, the European Union or any EU member state, 

[Coty Inc. - Second Amendment to Credit Agreement]

(b) any Person operating, organized or resident in a Sanctioned Country or (c) any Person majority (fifty percent or more) owned or controlled by any such Person or Persons.
(i)    The definition of “Affiliate Subordinated Indebtedness” is hereby amended by replacing “Parent” with “Borrower”.
(ii)    The definition of “Applicable Rate” is hereby amended by (x) replacing clauses (a)-(d) therein with the following:
(a) in the case of Term Loans (except Incremental Term Loans), a per annum rate determined pursuant to the pricing grid set forth below:
	
			
	Consolidated Leverage Ratio
	ABR Spread
	Eurocurrency Spread

	Greater than or equal to 4.00 to 1.0
	0.750%
	1.750%

	Greater than or equal to 
2.75 to 1.0 and less than 4.00 to 1.0
	0.500%
	1.500%

	Greater than or equal to 2.0 to 1.0 and less than 2.75 to 1.0
	0.375%
	1.375%

	Greater than or equal to 1.5 to 1.0 and less than 2.0 to 1.0
	0.125%
	1.125%

	Less than 1.5 to 1.0
	0.000%
	1.000%

(b)    in the case of the Revolving Facility, a per annum rate determined pursuant to the pricing grid set forth below:
	
							
	Consolidated Leverage Ratio
	ABR Spread
	Eurocurrency Spread
	

Facility Fee Rate

	Greater than or equal to 4.0 to
1.0
	0.500%
	1.500%
	

0.250%
	

	Greater than or equal to 
2.75 to 1.0 and less than 4.0 to 1.0
	0.275
	%
	1.275
	%
	0.225
	%

	Greater than or equal to 2.0 to 1.0 and less than 2.75 to 1.0
	0.175
	%
	1.175
	%
	0.200
	%

	Greater than or equal to 1.5 to 1.0 and less than 2.0 to 1.0
	0.000
	%
	0.950
	%
	0.175
	%

	Less than 1.5 to 1.0
	0.000
	%
	0.850
	%
	0.150
	%

(c)    in the case of Incremental Term Loans and Refinancing Term Loans, such per annum rates as shall be agreed to by the Borrower and the applicable Incremental Term Lenders or Refinancing Term Loans Lenders; and

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509265-0507-00338-Active.16191007.16

(d)    in the case of 2014 Incremental Term Loans, a per annum rate determined pursuant to the pricing grid set forth below:
	
					
	Consolidated Leverage Ratio
	ABR Spread
	Eurocurrency Spread

	Greater than or equal to 4.0 to 1.0
	0.750%
	1.750%

	Greater than or equal to 2.75 to less than 4.0 to 1.0
	0.500
	%
	1.500
	%

	Greater than or equal to 2.0 to 1.0 and less than 2.75 to 1.0
	0.375
	%
	1.375
	%

	Greater than or equal to 1.5 to 1.0 and less than 2.0 to 1.0
	0.125
	%
	1.125
	%

	Less than 1.5 to 1.0
	0.000
	%
	1.000
	%

and (y) replacing the phrase “2.75 to 1.0” in the last paragraph with the phrase “4.0 to 1.0”.

(iii)    The definition of “Change in Control” is hereby deleted in its entirety and the following shall be included in lieu thereof:
“Change in Control” means (i)(A) any person or group (within the meaning of Sections 13(d) and 14(d) under the Exchange Act), other than the Owner Group, acquires the power, directly or indirectly, to vote or direct the voting of securities having more than 30% of the ordinary voting power for the election of directors of the Borrower (determined on a fully diluted basis) and (B) the Owner Group shall cease to be the ultimate “beneficial owner” (as defined in Rules 13d-3 and 13d5 under the Exchange Act), directly or indirectly, of a greater percentage of the securities having the ordinary voting power for the election of directors of the Borrower (determined on a fully diluted basis) than such other person or group (within the meaning of Sections 13(d) and 14(d) under the Exchange Act) or (ii) the board of directors of the Borrower shall cease to consist of a majority of Continuing Directors.

(iv)    The definition of “Consolidated EBITDA” is hereby amended by: 
(A)    adding the following after “interest expense” in clause (b): “(including, for the avoidance of doubt, any costs associated with the prepayment of the Existing Notes)” and
(B)    deleting the word “and” from the end of clause (h) and adding the following at the end of clause (i):
(j)    charges, fees and expenses in connection with the Organizational Redesign through the last day of the Borrower’s fiscal year ending June 30, 2016; provided the aggregate amount of such charges, fees and expenses shall not exceed $15,000,000 for the fiscal year ending June 30, 2014, $100,000,000 for the fiscal year ending June 30, 2015 and $50,000,000 for the fiscal year ending June 30, 2016 (provided, that if the aggregate amount of such charges, fees and expenses for any of the foregoing fiscal years is less than the limit specified for such fiscal year in this clause (j), such excess amount may be carried forward and 

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509265-0507-00338-Active.16191007.16

increase the limit specified in this clause (j) for the subsequent fiscal year, but in no event beyond fiscal year 2016); and
(k)     charges, fees and expenses in connection with the China Optimization Program through the last day of the Borrower’s fiscal year ending June 30, 2015; provided the aggregate amount of such charges, fees and expenses shall not exceed $36,000,000 for the fiscal year ending June 30, 2014, and $14,000,000 for the fiscal year ending June 30, 2015 (provided, that if the aggregate amount of such charges, fees and expenses for any of the foregoing fiscal years is less than the limit specified for such fiscal year in this clause (k), such excess amount may be carried forward and increase the limit specified in this clause (k) for the subsequent fiscal year, but in no event beyond fiscal year 2015);
For the avoidance of doubt, the amendment to the definition of “Consolidated EBITDA” set forth in this clause (v) shall not be effective with respect to calculation of the Applicable Rate.
(v)    The definition of “Consolidated Interest Expense” is hereby amended by adding the following at the end of the definition:
; provided, that, for the avoidance of doubt, Consolidated Interest Expense shall not include any costs associated with the prepayment of the Existing Notes. 

(vi)    The definition of “Eurocurrency Rate” is hereby amended by adding the following at the end of the definition:
; provided, that, if the Eurocurrency Rate shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement.

(vii)    The definition of “Federal Funds Effective Rate” is hereby amended by adding the following at the end of the definition:
; provided, that, if the Federal Funds Effective Rate shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement.

(viii)    The definition of “Holdings” is hereby deleted in its entirety. 
(ix)    The definition of “Immaterial Subsidiary” is hereby amended by adding the following at the end of the definition:
, unless, in each case, such Domestic Subsidiary is a guarantor of the obligations of the Borrower under the Borrower’s $600 million credit agreement dated as of September 29, 2014.

(x)    The definition of “Net Proceeds” is hereby deleted in its entirety and the following shall be included in lieu thereof:
“Net Proceeds” means, with respect to any event (a) the cash proceeds received in respect of such event or the fair market value of any Capital Stock of the Borrower issued as consideration for any acquisition permitted hereunder, net of (b) all reasonable fees and 

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out‐of‐pocket expenses paid by the Borrower and the Subsidiaries to third parties (other than Affiliates) in connection with such event.
(xi)    The definition of “OFAC” is hereby deleted in its entirety and replaced with the following:
“OFAC” means the Office of Foreign Assets Control, U.S. Department of Treasury.
(xii)    The definition of “OFAC Listed Person” is hereby deleted in its entirety. 
(xiii)    The definition of “Post-Acquisition Leverage Ratio” is hereby amended by replacing “4.00” with “4.50”.
(b)    Amendment of Section 2.17. Section 2.17(f) is hereby amended by adding the following sentence immediately preceding the final sentence of clause (f):
Notwithstanding anything to the contrary in this paragraph (f), in no event will the indemnified party be required to pay any amount to an indemnifying party pursuant to this paragraph (f) the payment of which would place the indemnified party in a less favorable net after-Tax position than the indemnified party would have been in if the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts with respect to such Tax had never been paid.

(c)    Amendment of Section 3.15. 
(i)    The heading for Section 3.15 is hereby deleted in its entirety and replaced with the following: 
Use of Proceeds; Margin Regulations; Anti-Corruption Laws and Sanctions.
(ii)    Section 3.15(c) is hereby deleted in its entirety and replaced with the following:
(c)  The Borrower has implemented and maintains in effect compliance policies and procedures applicable to the Borrower, its Subsidiaries and their respective directors, officers, employees and agents (in the case of officers, employees, directors and agents, applicable solely in their capacity as such for the Borrower or its Subsidiaries) with respect to Anti-Corruption Laws and Sanctions, in each case to the extent applicable to such entities or persons, and the Borrower, its Subsidiaries and their respective officers and employees, and to the knowledge of the Borrower, its directors and agents (in the case of officers, employees, directors and agents, acting solely in their capacity as such for the Borrower or its Subsidiaries), are in compliance with Anti-Corruption Laws and Sanctions, in each case to the extent applicable to such entities or persons, in all material respects.  None of (a) the Borrower, any Subsidiary or, to the knowledge of the Borrower or such Subsidiary, any of their respective directors, officers or employees, or (b) to the knowledge of the Borrower, any agent of the Borrower or any Subsidiary that will act in any capacity in connection with or benefit from the credit facility established hereby, is a Sanctioned Person.

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(d)    Amendment of Section 5.7.  Section 5.7 is hereby amended by adding “(a)” at the beginning of the section and adding the following as new Section 5.7(b):
(b)  Maintain in effect and enforce compliance policies and procedures applicable to the Borrower, its Subsidiaries and their respective directors, officers, employees and agents (in the case of officers, employees, directors and agents, applicable solely in their capacity as such for the Borrower or its Subsidiaries) with respect to Anti-Corruption Laws and Sanctions, in each case to the extent applicable to such entities or persons.

(e)    Amendment of Section 6.10.  Section 6.10 is hereby added at the end of Article VI:
SECTION 6.10 Use of Proceeds. The Borrower shall not use, and shall procure that its Subsidiaries and its or their respective directors, officers, employees and agents (in the case of officers, employees, directors and agents, applicable solely in their capacity as such for the Borrower or their Subsidiaries) shall not use, the proceeds of any Borrowing in any manner that would result in a material violation of any applicable Anti-Corruption Laws or in violation of applicable Sanctions by any party hereto.

(f)    Amendment of Section 9.1.  
(i)    Section 9.1(a) is hereby deleted in its entirety and replaced with the following:
(a)  if to the Borrower, to Coty Inc., 350 Fifth Avenue, New York, NY 10118, Attention of Jules Kaufman, General Counsel (Telecopy No. 212-479-4328);

(ii)    Section 9.1(b) is hereby deleted in its entirety and replaced with the following:
(b)  if to the Administrative Agent, to JPMorgan Chase Bank, N.A., 500 Stanton Christiana Rd, 3/Ops2  Newark, DE 19713, Attention of Corethious P. Bryant Jr.  (Telecopy No. 302-634-8459), with a copy to JPMorgan Chase Bank, N.A., 383 Madison Ave., 24th Fl., New York, NY 10179, Attention of Tony Yung (Telecopy No. 212-270-6637); and

SECTION 3.    Effectiveness of Amendment . This Amendment shall not become effective until the date (such date, the “Amendment Effective Date”) on which each of the following conditions is satisfied (or waived in accordance with Section 9.2 of the Credit Agreement): 
The Administrative Agent shall have received the following: 
(i)    counterparts to this Amendment signed on behalf of the Borrower and the Required Lenders;
(ii)    the Borrower shall have paid in immediately available funds to the Administrative Agent for the account of each Lender which executes and delivers this Amendment on or prior to the Amendment Effective Date, a consent fee equal to 0.10% multiplied by the sum of (i) the Revolving Commitment of such Lender in effect on the Amendment Effective Date and (ii) the aggregate amount of the outstanding Term Loans of such Lender on the Amendment Effective Date;

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509265-0507-00338-Active.16191007.16

(iii)    all other fees and all other amounts due and payable on or prior to the Amendment Effective Date, including, to the extent invoiced at least one Business Day prior to the Amendment Effective Date, reimbursement or payment of all reasonable out‐of‐pocket expenses required to be reimbursed or paid by any Loan Party hereunder or under any other Loan Document; and
(iv)    an Acknowledgement and Consent executed by each Loan Party substantially in the form of Schedule A.
SECTION 4.    Representations and Warranties. The Borrower represents and warrants to the Lenders that:
(a)    The representations and warranties of each Loan Party set forth in the Loan Documents are true and correct in all material respects (other than representations and warranties qualified by “materiality or “Material Adverse Effect”, which are true and correct in all respects) on and as of the Amendment Effective Date, except for representations and warranties expressly stated to relate to a specific date.
(b)    No Default or Event of Default exists on the Amendment Effective Date.
(c)    (i)    The Borrower has heretofore furnished to the Lenders its consolidated balance sheet and statements of income, stockholders equity and cash flows as of and for the fiscal year ended June 30, 2014, audited and reported on by Deloitte & Touche, independent public accountants.  Such financial statements present fairly, in all material respects, the financial position and results of operations and cash flows of the Borrower and its consolidated Subsidiaries as of such dates and for such periods in accordance with GAAP, subject to year‐end audit adjustments and the absence of footnotes in the case of quarterly financial statements.
(ii)    Except as disclosed in the financial statements referred to above or the notes thereto and except for the Disclosed Matters, after giving effect to the transactions contemplated hereby, none of the Borrower or its Subsidiaries has, as of the Amendment Effective Date, any unusual material contingent liabilities or unrealized losses.
(iii)    Since June 30, 2014, there has been no development or event which has had or could reasonably be expected to have a Material Adverse Effect.
SECTION 5.    Effect on the Credit Agreement and the Loan Documents.  (i)  Except as specifically amended above, the Credit Agreement shall continue to be in full force and effect and is hereby in all respects ratified and confirmed.
(b)    The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of any Lender or the Administrative Agent under the Credit Agreement, nor constitute a waiver of any provision of any of the Credit Agreement.
(c)    Upon and after the execution of this Amendment by each of the parties hereto, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof” or words of like import referring to the Credit Agreement, and each reference in the other Loan Documents to “the Credit Agreement”, “thereunder”, “thereof” or words of like import referring to the Credit Agreement, shall mean and be a reference to the Credit Agreement as modified hereby.  This Amendment shall constitute a Loan Document. 

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509265-0507-00338-Active.16191007.16

SECTION 6.    Expenses; Indemnity; Damage Waiver. The Borrower acknowledges and agrees that any action taken or not taken by the Administrative Agent contemplated by this letter agreement shall benefit from and be subject to the Borrower’s expense reimbursement and indemnification obligations under Section 9.4 of the Credit Agreement, mutatis mutandis. 
SECTION 7.    Governing Law; Jurisdiction; Consent to Service of Process. 
(a)    This Amendment shall be construed in accordance with and governed by the law of the State of New York.
(b)    The provisions of Sections 9.10 and 9.11 of the Credit Agreement are incorporated herein, mutatis mutandis.
SECTION 8.    Counterparts; Integration; Effectiveness. This Amendment may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract.  This Amendment and any separate letter agreements with respect to fees payable to the Administrative Agent constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof.  This Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.  Delivery of an executed counterpart of a signature page of this Amendment by email or telecopy shall be effective as delivery of a manually executed counterpart of this Amendment.
[Remainder of page intentionally left blank.]

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9
509265-0507-00338-Active.16191007.16

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their respective authorized officers as of the day and year first above written.
COTY INC.
                        	
			
	By:
	/s/Patrice de Talhouët

	 
	Name:
	Patrice de Talhouët

	 
	Title:
	Chief Financial Officer

[Coty Inc. - Second Amendment to Credit Agreement]

	
			
	JPMORGAN CHASE BANK, N.A., as Administrative

	Agent and as a Lender

	 
	 
	 

	By:
	/s/Tony Yung

	 
	Name:
	Tony Yung

	 
	Title:
	Executive Director

	
			
	BANK OF AMERICA, N.A.,

	 

	 
	 
	 

	By:
	/s/J. Casey Cosgrove

	 
	Name:
	J. Casey Csogrove

	 
	Title:
	Director

	
			
	Bank of the West, New York Representative Office,

	 

	 
	 
	 

	By:
	/s/Francesco Ingargiola

	 
	Name:
	Francesco Ingargiola

	 
	Title:
	S.V.P.

	
			
	BARCLAYS BANK PLC

	 

	 
	 
	 

	By:
	/s/Ronnie Glenn

	 
	Name:
	Ronnie Glenn

	 
	Title:
	Vice President

	
			
	BNP PARIBAS,

	 

	 
	 
	 

	By:
	/s/Brendan Heneghan

	 
	Name:
	Brendan Heneghan

	 
	Title:
	Director

	
			
	 
	 
	 

	By:
	/s/Nicole Rodriguez

	 
	Name:
	Nicole Rodriguez

	 
	Title:
	Vice President

	
			
	Compass Bank

	 

	 
	 
	 

	By:
	/s/Cameron D. Gateman

	 
	Name:
	Cameron D. Gateman

	 
	Title:
	SVP

	 
	 
	 

	 
	 
	 

	 
	 

	 
	 
	 

	 
	 
	 

	
			
	Crédit Agricole Corporate and

	Investment Bank,

	 
	 
	 

	By:
	/s/Elvis Gigurovic

	 
	Name:
	Elvis Gigurovic

	 
	Title:
	Director

	 
	 
	Credit Agricole Corporate and Investment Bank

	 
	 
	 

	By:
	/s/Gordon Yip

	 
	Name:
	Gordon Yip

	 
	Title:
	Director

	
			
	DZ Bank AG

	Deutsche Zentral - Genossenschaftbank,

	New York Branch

	 
	 

	By:
	/s/Oliver Hildenbrand

	 
	Name:
	Oliver Hildenbrand

	 
	Title:
	Director

	 
	 
	 

	 
	 
	 

	By:
	/s/Mark Markowski

	 
	Name:
	Mark Markowski

	 
	Title:
	Senior Vice President

	
			
	First Hawaiian Bank,

	 

	 
	 
	 

	By:
	/s/Jon T. Fukagawa

	 
	Name:
	Jon T. Fukagawa

	 
	Title:
	Vice President

	 
	 
	 

	
			
	DEUTSCHE BANK AG NEW YORK

	BRANCH, as a Leader

	 
	 
	 

	By:
	/s/Ming K. Chu

	 
	Name:
	Ming K. Chu

	 
	Title:
	Vice President

	 
	 
	 

	 
	 
	 

	By:
	/s/Virginia Cosenza

	 
	Name:
	Virginia Cosenza

	 
	Title:
	Vice President

	
			
	Fifth Third Bank,

	 

	 
	 
	 

	By:
	/s/Robert Urban

	 
	Name:
	Robert Urban

	 
	Title:
	Managing Director

	 
	 
	 

	 
	 
	 

	 
	 

	 
	 
	 

	 
	 
	 

	
			
	HSBC Bank USA, National Association,

	 

	 
	 
	 

	By:
	/s/Randolph E. Cates

	 
	Name:
	Randolph E. Cates

	 
	Title:
	Senior Vice President

	 
	 
	 

	 
	 
	 

	 
	 

	 
	 
	 

	 
	 
	 

	
			
	ING BANK N.V.

	 

	 
	 
	 

	By:
	/s/Russell Boon

	 
	Name:
	Russell Boon

	 
	Title:
	Director

	 
	 
	 

	 
	 
	 

	By:
	/s/Boele Olthof

	 
	Name:
	Boele Olthof

	 
	Title:
	Managing Director

	
			
	LLOYDS BANK PLC

	 

	 
	 
	 

	By:
	/s/Stephen Giacolone

	 
	Name:
	Stephen Giacolone

	 
	Title:
	Assistant Vice President - G011

	 
	 
	 

	 
	 
	 

	By:
	/s/Dennis McClellan

	 
	Name:
	Dennis McClellan

	 
	Title:
	Assistant Vice President - M040

	
			
	Mega International Commercial Bank Co., Ltd.,

	Chicago Branch.

	 
	 
	 

	By:
	/s/Luke L. Hwang

	 
	Name:
	Luke L. Hwang

	 
	Title:
	VP and General Manager

	 
	 
	 

	 
	 
	 

	 
	 

	 
	 
	 

	 
	 
	 

	
			
	MEGA INTERNATIONAL COMMERCIAL BANK CO., LTD.

	NEW YORK BRANCH

	 

	 
	 
	 

	By:
	/s/Angela Chen

	 
	Name:
	ANGELA CHEN

	 
	Title:
	VP & DGM

	 
	 
	 

	 
	 
	 

	 
	 

	 
	 
	 

	 
	 
	 

	
			
	MIZUHO BANK, LTD.

	 

	 
	 
	 

	By:
	/s/David Lim

	 
	Name:
	David Lim

	 
	Title:
	Authorized Signatory

	 
	 
	 

	 
	 
	 

	 
	 

	 
	 
	 

	 
	 
	 

	
			
	MORGAN STANLEY BANK, N.A.,

	 

	 
	 
	 

	By:
	/s/John Durland

	 
	Name:
	John Durland

	 
	Title:
	Authorized Signatory

	 
	 
	 

	 
	 
	 

	 
	 

	 
	 
	 

	 
	 
	 

	
			
	ROYAL BANK OF CANADA,

	 

	 
	 
	 

	By:
	/s/Julia Ivanova

	 
	Name:
	Julia Ivanova

	 
	Title:
	Authorized Signatory

	 
	 
	 

	 
	 
	 

	 
	 

	 
	 
	 

	 
	 
	 

	
			
	SANTANDER BANK, N.A.

	 

	 
	 
	 

	By:
	/s/William Mang

	 
	Name:
	William Mang

	 
	Title:
	Managing Director

	 
	 
	 

	 
	 
	 

	 
	 

	 
	 
	 

	 
	 
	 

	
			
	The Bank of Tokyo-Mitsubishi UFJ, Ltd.

	 

	 
	 
	 

	By:
	/s/Adrienne Young

	 
	Name:
	Adrienne Young

	 
	Title:
	Vice-President

	 
	 
	 

	 
	 
	 

	 
	 

	 
	 
	 

	 
	 
	 

	
			
	Société Générale,

	 

	 
	 
	 

	By:
	/s/Yao Wang

	 
	Name:
	Yao Wang

	 
	Title:
	Director

	 
	 
	 

	 
	 
	 

	 
	 

	 
	 
	 

	 
	 
	 

	
			
	Sumitomo Mitsui Banking Corp.

	 

	 
	 
	 

	By:
	/s/David W. Kee

	 
	David W. Kee

	 
	Managing Director

	 
	 
	 

	 
	 
	 

	 
	 

	 
	 
	 

	 
	 
	 

	
			
	TD BANK, N.A.,

	 

	 
	 
	 

	By:
	/s/Michele Dragonetti

	 
	Name:
	Michele Dragonetti

	 
	Title:
	Senior Vice President

	 
	 
	 

	 
	 
	 

	 
	 

	 
	 
	 

	 
	 
	 

	
			
	The Royal Bank of Scotland plc

	 

	 
	 
	 

	By:
	/s/Tracy Rahn

	 
	Name:
	Tracy Rahn

	 
	Title:
	Director

	 
	 
	 

	 
	 
	 

	 
	 

	 
	 
	 

	 
	 
	 

	
			
	U.S. Bank National Association

	 

	 
	 
	 

	By:
	/s/Joyce P. Dorsett

	 
	Name:
	Joyce P. Dorsett

	 
	Title:
	Vice President

	 
	 
	 

	 
	 
	 

	 
	 

	 
	 
	 

	 
	 
	 

	
			
	Wells Fargo Bank, N.A.

	 

	 
	 
	 

	By:
	/s/William A. DeMilt, Jr

	 
	Name:
	William A. DeMilt, Jr

	 
	Title:
	Senior Vice President

	 
	 
	 

	 
	 
	 

	 
	 

	 
	 
	 

	 
	 
	 

Schedule A
Form of Acknowledgement and Consent

ACKNOWLEDGEMENT AND CONSENT 

Each of the parties hereto hereby acknowledges and consents to the Second Amendment, dated as of September 29, 2014 (the “Amendment”; capitalized terms used herein, but not defined, shall have the meanings set forth in the Amendment), to the Credit Agreement, dated as of April 2, 2013, among COTY INC. (the “Borrower”), the lenders and agents party thereto and JPMorgan Chase Bank, N.A., as administrative agent, and agrees, with respect to each Loan Document to which it is a party, all of its obligations, liabilities and indebtedness under such Loan Document shall remain in full force and effect on a continuous basis, unimpaired, uninterrupted and undischarged, after giving effect to the Amendment.
[Remainder of page intentionally left blank.]

[Coty Inc. - Second Amendment to Credit Agreement]

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

	 

	 
	 
	 

	By:
	/s/Patrice de Talhouët

	 
	Name:
	Patrice de Talhouët

	 
	Title:
	Chief Financial Officer

	 
	 
	 

	Coty US LLC.

	 
	 

	By:
	/s/Patrice de Talhouët

	 
	Name:
	Patrice de Talhouët

	 
	Title:
	Manager, Senior Vice President

	 
	 
	 

	Calvin Klein Cosmetic Corporation

	 
	 
	 

	By:
	/s/Patrice de Talhouët

	 
	Name:
	Patrice de Talhouët

	 
	Title:
	Director

	 
	 
	 

	OPI Products, Inc.

	 
	 
	 

	By:
	/s/Patrice de Talhouët

	 
	Name:
	Patrice de Talhouët

	 
	Title:
	Director

	 
	 
	 

	Philosophy Acquisition Company, Inc.

	 
	 
	 

	By:
	/s/Patrice de Talhouët

	 
	Name:
	Patrice de Talhouët

	 
	Title:
	Director

	 
	 
	 

	Philosophy, Inc.

	 
	 
	 

	By:
	/s/Patrice de Talhouët

	 
	Name:
	Patrice de Talhouët

	 
	Title:
	Director

	 
	 
	 

[Coty Inc. - Acknowledgement and Consent]

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