Document:

Exhibit
10.2

 

April
7, 2016

 

HCAC
II, Inc.

c/o
Hennessy Capital Partners II LLC

700
Louisiana Street, Suite 900

Houston,
TX 77002

Attention:
Kevin M. Charlton

 

AMENDED
AND RESTATED COMMITMENT LETTER

$25 MILLION SENIOR SECURED CREDIT
FACILITY

 

Ladies
and Gentlemen:

 

As
we, Wells Fargo Bank, N.A. (“Wells Fargo” or “we” or “us”),
understand, Hennessy Capital Partners II LLC and/or its controlled investment affiliates (collectively, the “Sponsor”)
has formed an acquisition entity, HCAC II, Inc., a Delaware corporation (“Newco” or “you”),
and a wholly owned subsidiary of Hennessy Capital Acquisition Corp. II, a Delaware corporation (“Parent”),
in order to acquire (the “Acquisition”) USI Senior Holdings, Inc. (the “Company”
or the “Acquired Business”) and certain of its subsidiaries pursuant to an agreement and plan of merger
whereby Newco will merge with and into the Company. Wells Fargo understands that you would like to obtain financing for the Borrowers
(as defined in the Term Sheet) in order to (a) refinance certain of the Borrowers’ (as defined in the Term Sheet) existing
indebtedness, (b) finance general corporate purposes of the Borrowers (as defined in the Term Sheet), and (c) pay fees and expenses
associated with the Acquisition and related transactions. The Acquisition, the entering into and funding of the Facility (as defined
below), the Refinancing (as defined below), and the Term Loan Facility (as defined below) and the payment of related fees and
expenses are referred to herein collectively as the “Transactions”, and the date of the effectiveness
of the Facility (as defined below) and the consummation of the Acquisition is referred to herein as the “Closing Date”.

 

You
have also advised Wells Fargo that you intend that:

 

	 	(a)	the
    Sponsor and other investors (collectively with the Sponsor, the “Investors”) will directly or indirectly
    contribute to Parent, for further contribution directly or indirectly to Newco, an aggregate amount of cash equity (which,
    in respect of any equity of Parent other than common stock or “qualified preferred”, shall be on terms reasonably
    acceptable to Wells Fargo) (collectively, the “Equity Contribution”) that represents, together with
    rollover equity (which may be cash or non-cash) of (i) the Company held by management and current investors in the Company
    or (ii) of the Parent held by current investors in the Parent, not less than $199,500,000;

 

	 	(b)	the
    Borrowers (as defined in the Term Sheet) will obtain the Facility (as defined below) on the terms described herein;

 

	 	(c)	the
Borrower will enter into a senior secured term loan facility from a term lender selected by the Borrowers and reasonably acceptable
to Wells Fargo (provided, GSO Capital Partners, is

 

     

    HCAC II, Inc.
April 7, 2016

    

 

	 	 	reasonably
    acceptable to Wells Fargo) in an amount up to $100,000,000 and on terms and pursuant to agreements reasonably acceptable to
    Wells Fargo (the “Term Loan Facility”); and
	 	 	 
	 	(d)	all
    indebtedness of the USI and its subsidiaries under that certain Revolving Credit and Term Loan Agreement, dated as of May 1,
    2015, by and among SunTrust Bank, USI, USI Intermediate Holdings, Inc. and USI Senior Holdings, Inc. and the other lenders
    from time to time party thereto, shall have been paid in full, and all commitments, security interests and guaranties in connection
    therewith shall have been terminated and released (or arrangements therefor reasonably satisfactory to Wells Fargo shall have
    been made) (the transactions described in this clause (d) are collectively referred to herein as the “Refinancing”).

 

Immediately
after consummating the Transactions, the Borrowers and their subsidiaries will have no outstanding indebtedness except as described
above and except for (i) indebtedness permitted to remain outstanding under the Merger Agreement (as defined below), (ii) indebtedness
permitted to be incurred under the Merger Agreement (as defined below) prior to the Closing Date, and (iii) trade payables, capital
leases and equipment financings that the Borrowers and Wells Fargo reasonably agree may remain outstanding after the Closing Date
(the indebtedness described in clauses (i) through (iii) above, collectively, the “Permitted Surviving Debt”).

 

Based
upon information known to us today concerning the Transactions, we are pleased to provide you with this amended and restated commitment
letter and the annexes attached hereto (the “Commitment Letter”) and the term sheet and the annexes
attached thereto (the “Term Sheet”) which establish the terms and conditions under which Wells Fargo
commits to provide to the Borrowers (as defined in the Term Sheet) a $25,000,000 senior secured credit facility (the “Facility”).
This Commitment Letter amends and restates that certain commitment letter dated April 1, 2016 between Wells Fargo and you.

 

Confidentiality

 

(a)You
agree that this Commitment Letter (including the Term Sheet) is for your confidential use only and that neither its existence,
nor the terms hereof or thereof, will be disclosed by you to any person other than (i) your officers, directors, employees, accountants,
attorneys, and other advisors, and then only on a confidential and “need-to-know” basis in connection with the Transactions
contemplated hereby, (ii) pursuant to the order of any court or administrative agency or otherwise as required by applicable law,
regulation, compulsory legal process or as requested by a governmental authority (in which case you agree to inform Wells Fargo
promptly thereof) and (iii) in connection with the exercise of any remedy or enforcement of any right under this Commitment Letter.
The foregoing notwithstanding, following your acceptance of this Commitment Letter in accordance herewith, you may (i) provide
a copy hereof (including the Term Sheet, but not including the fee letter dated the date hereof (the “Fee Letter”)
(unless Wells Fargo shall otherwise consent in writing) and (unless Wells Fargo shall otherwise consent) Annex A-I shall be redacted
(in form and substance satisfactory to Wells Fargo) in respect of amounts, percentages and basis points of fee based compensation
set forth therein) to the Company (so long as it agrees not to disclose this Commitment Letter (including the Term Sheet) other
than to its officers, directors, employees, accountants, attorneys, and other advisors, and then only on a confidential and “need-to-know”
basis in connection with the Transactions contemplated hereby), and (ii)  file or make such other public disclosures of the
terms and conditions hereof (including the Term Sheet, but not including the Fee Letter) as you are required by law to make; provided,
that the existence and contents thereof may be disclosed as part of projections, pro forma information and a generic disclosure
of

 

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    HCAC II, Inc.
April 7, 2016

    

 

aggregate sources and uses in any proxy statement or similar public filing related to the Acquisition or in connection with
any public filing requirement.

 

(b)Wells
Fargo agrees that all non-public information received by them from the Sponsor or the Acquired Business in connection with the
Acquisition and the Transactions, including, without limitation, any information regarding the Company and its subsidiaries, their
operations, assets, and existing and contemplated business plans shall be treated by Wells Fargo in a confidential manner, and
shall not be disclosed by Wells Fargo to persons who are not parties to this Commitment Letter, except: (i) to your officers,
directors, employees, attorneys advisors, accountants, auditors, and consultants to Wells Fargo on a confidential and “need
to know” basis in connection with the Transactions contemplated hereby, (ii) to subsidiaries and affiliates of Wells Fargo,
provided that any such subsidiary or affiliate shall have agreed to receive such information hereunder subject to the terms
of this clause (b), (iii) as may be required by regulatory authorities so long as such authorities are informed of the confidential
nature of such information, provided that prior to any disclosure under this clause (iii), the disclosing party agrees
(except with respect to any audit or examination conducted by bank accountants or any governmental bank authority exercising examination
or regulatory authority (including any self-regulatory authority)) to promptly provide Sponsor with prior notice thereof, to the
extent that it is practicable to do so and to the extent the disclosing party is permitted to do so pursuant to the terms of the
applicable regulation, (iv) as may be required by statute, decision, or judicial or administrative order, rule, or regulation,
provided that prior to any disclosure under this clause (iv), the disclosing party agrees to promptly provide Sponsor with
prior notice thereof, to the extent that it is practicable to do so and to the extent that the disclosing party is permitted to
provide such prior notice to Sponsor pursuant to the terms of the applicable statute, decision, or judicial or administrative
order, rule, or regulation, (v) as may be agreed to in advance by Sponsor, (vi) as requested or required by any governmental authority
pursuant to any subpoena or other legal process, provided that prior to any disclosure under this clause (vi) the disclosing
party agrees to promptly provide Sponsor with prior notice thereof, to the extent that it is practicable to do so and to the extent
that the disclosing party is permitted to provide such prior notice to Sponsor pursuant to the terms of the subpoena or other
legal process, (vii) as to any such information that is or becomes generally available to the public (other than as a result of
prohibited disclosure by Wells Fargo), (viii) in connection with any proposed assignment or participation of Wells Fargo’s
interest in the Facility, provided that any such proposed assignee or participant shall have agreed to receive such information
subject to the terms of this clause (b), and (ix) in connection with any litigation or other adverse proceeding involving parties
to this Commitment Letter; provided that prior to any disclosure to a party other than Sponsor, Newco, Company, the Lenders
(as defined in the Term Sheet), their respective affiliates and their respective counsel under this clause (ix) with respect to
litigation involving a party other than Sponsor, Newco, Company, the Lenders (as defined in the Term Sheet), and their respective
affiliates, the disclosing party agrees to promptly provide Sponsor with prior notice thereof. Notwithstanding the foregoing,
you and the Sponsor acknowledge that confidential information under this clause (b) shall not include any information received
by Wells Fargo from one or more companies affiliated with the Acquired Business in connection with existing credit relationships
that Wells Fargo or its affiliates have entered into with the Loan Parties (as defined in the Term Sheet) prior to the date hereof.

 

(c)
Anything to the contrary in this Commitment Letter notwithstanding, Sponsor agrees that Wells Fargo shall have the right to provide
information concerning the Facility to loan syndication and reporting services.

 

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    HCAC II, Inc.
April 7, 2016

    

 

Costs
and Expenses

 

As
consideration for the commitments and agreements of Wells Fargo under this Commitment Letter with respect to the Facility, if
the Closing Date occurs you agree to pay or reimburse (or cause payment or reimbursement with respect to) Wells Fargo, promptly
upon demand therefor (and in any event within ten (10) days) following receipt of the relevant invoice (including customary backup
documentation in reasonable detail supporting such invoice) (provided nothing herein shall require the furnishing of or access
to any information, materials or documents subject to attorney-client privilege), for (a) all reasonable and documented costs
and expenses (including, without limitation, all reasonable and documented costs and expenses arising in connection with the syndication
of the Facility and any due diligence investigation performed by Wells Fargo or its advisors, and the reasonable and documented
out-of-pocket fees and expenses of special counsel to Wells Fargo and also of, without limitation, any local legal counsel as
shall be reasonably necessary following consultation with you in connection with the transactions contemplated hereby) arising
in connection with the negotiation, preparation, execution and delivery of the Commitment Letter and Loan Documents and any amendment
or waiver with respect thereto and (b) all reasonable and documented legal or other expenses in connection with the enforcement
of the Loan Documents and any of Wells Fargo’s rights and remedies hereunder.

 

Indemnification

 

Sponsor
agrees to indemnify, defend, and hold harmless Wells Fargo, each of its affiliates, and each of their respective officers, directors,
employees, agents, advisors, attorneys, and representatives (each, an “Indemnified Person”) as set forth
on Annex A hereto. The parties agree that the indemnification (and other) provisions shall be as set forth on Annex A and those
provisions are incorporated herein by this reference.

 

Conditions

 

There
are no other conditions (implied or otherwise) to the commitment of Wells Fargo to provide the Facility other than those conditions
set forth on Annex B-I to the Term Sheet (the “Funding Conditions”).

 

Notwithstanding
anything in this Commitment Letter, the Term Sheet, the definitive documentation for the Facility (the “Loan Documents”)
or any other letter agreement or other undertaking concerning the Facility to the contrary but subject to the Funding Conditions,
(i) the only representations and warranties relating to the Company and its subsidiaries and their businesses, the making and
accuracy of which shall be a condition to the availability of the Facility on the Closing Date shall be (A) such of the representations
and warranties made by or on behalf of the Company and its subsidiaries in the Agreement and Plan of Merger dated as of April
1, 2016 by and among Newco, the Company, and Hennessy Capital Acquisition Corp. II (the “Merger Agreement”),
but only to the extent that you (or your applicable affiliate) or Newco have a right not to consummate the transactions contemplated
by the Merger Agreement or to terminate your or its obligations under the Merger Agreement as a result of a breach of such representations
and warranties (the “Specified Merger Agreement Representations”), and (B) the Specified Representations
(as defined below), and (ii) the terms of the Facility shall contain no condition precedent to the funding of the Facility on
the Closing Date other than those set forth in Annex B-I to the Term Sheet, the satisfaction of which shall obligate the Lenders
(as defined in the Term Sheet) to provide the Facility on the terms set forth in this Commitment Letter and the Term Sheet (it
being

 

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    HCAC II, Inc.
April 7, 2016

    

 

understood
that, to the extent any collateral is not provided on the Closing Date after use of commercially reasonable efforts to do so (other
than (x) the filing of Uniform Commercial Code financing statements, (y) a security interest that can be created by the execution
and delivery of a security agreement and (z) the delivery of stock certificates, if any, in respect of the equity interests of
the Borrowers and their material wholly-owned U.S. subsidiaries (solely to the extent required in the Term Sheet)), the providing
of such collateral shall not constitute a condition precedent to the availability of the Facility on the Closing Date but shall
be required to be provided and/or perfected within 90 days (or such longer period as the Agent (as defined in the Term Sheet)
agrees to) after the Closing Date pursuant to arrangements to be mutually agreed upon by the parties hereto acting reasonably).
For purposes hereof, “Specified Representations” means the representations and warranties set forth
in the Loan Documents relating to organization, existence, power and authority (as to execution, delivery and performance of the
Loan Documents), due authorization, execution, delivery, enforceability and non-contravention of the Loan Documents with the Loan
Parties’ (as defined in the Term Sheet) governing documents, solvency as of the Closing Date (after giving effect to the
Transactions) of the Parent and its subsidiaries on a consolidated basis (such representation and warranty to be consistent with
the solvency certificate in the form set forth in Annex B-II), Federal Reserve Bank margin regulations, the Investment Company
Act, OFAC, Patriot Act, Foreign Corrupt Practices Act and other anti-terrorism laws (including the use of proceeds of the Facility
not violating such laws), and, subject to the parenthetical in clause (ii) above and the permitted liens set forth in the Loan
Documents, the creation, validity, perfection and priority of the security interests granted in the collateral as of the Closing
Date. This paragraph, and the provisions herein, shall be referred to as the “Certain Funds Provision”.

 

Exclusivity

 

On
or prior to the earlier of (a) the mutual agreement of the parties hereto not to pursue the execution of the Loan Documents; (b)
the Closing Date; and (c) the Expiration Date (as defined below) (or such later date as you and Wells Fargo shall have mutually
agreed to extend Wells Fargo’s Commitment hereunder), you or the Sponsor, unless you first obtain our approval:

 

	 	(i)	shall
    not, and shall cause your affiliates, agents, representatives, counsel, consultants and advisors and any other person acting
    on your or their behalf not to, directly or indirectly solicit, participate in any negotiations or discussions with or provide
    or afford access to information to any third party with respect to, or otherwise effect, facilitate, encourage or accept any
    offers for the funding of the Facility or any alternative equity or debt financing arrangements in connection with the Transactions
    (other than the Equity Contribution, on terms and in the amount reasonably agreed by Wells Fargo, and the Term Loan Facility);
    and

 

	 	(ii)	shall
    terminate or have terminated prior to the date hereof any written agreement or arrangement related to the foregoing to which
    you or your affiliates are parties, as well as any activities and discussions related to the foregoing as may be continuing
    on the date hereof with any party other than Wells Fargo and its representatives.

 

Notwithstanding
any term or provision hereof to the contrary, all of the rights of Wells Fargo under this paragraph shall remain in full force
and effect notwithstanding the termination of this Commitment Letter or Wells Fargo’s commitments and agreements hereunder.

 

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    HCAC II, Inc.
April 7, 2016

    

 

Information

 

In
issuing this Commitment Letter, Wells Fargo is relying on the accuracy of the information furnished to it by or on behalf of Sponsor,
Newco and/or Company and their affiliates, without independent verification thereof. Sponsor hereby represents that to its knowledge
(a) all written factual information (other than forward looking information, projections of future financial performance and information
of a general economic or industry specific nature) concerning Newco, Company and its subsidiaries (the “Information”)
that has been, or is hereafter, made available by or on behalf of Sponsor, Newco or Company or their affiliates, when considered
as a whole, does not, or shall not when delivered, contain any untrue statement of material fact or omit to state a material fact
necessary in order to make the statements contained therein not materially misleading in any material respect in light of the
circumstances under which such statements have been made (after giving effect to all supplements and updates thereto), and (b)
all projections, when taken as a whole, that have been or are hereafter made available by or on behalf of Sponsor, Newco and/or
Company or their affiliates (“Projections”) are, or when delivered shall be, prepared in good faith
on the basis of information and assumptions that are believed by Sponsor to be reasonable at the time such projections were furnished;
it being recognized by Wells Fargo that projections of future events are not to be viewed as facts and are subject to significant
uncertainties and contingencies many of which are beyond your control, that no assurance can be given that any particular financial
projections will be realized and actual results may vary significantly from projected results. You agree that if at any time prior
to the closing of the Transactions any of the representations in the preceding sentence would be incorrect in any material respect
if the Information and Projections were being furnished, and such representations were being made, at such time, then you will
use commercially reasonable efforts to promptly supplement the Information and the Projections so that such representations will
be correct in all material respects under those circumstances, provided, that any such supplementation shall cure any breach of
such representations.

 

Sharing
Information; Absence of Fiduciary Relationship; Affiliate Activities

 

You
acknowledge that Wells Fargo or one or more of its affiliates may be providing debt financing, equity capital or other services
(including financial advisory services) to other companies in respect of which you may have conflicting interests regarding the
transactions described herein or otherwise. You also acknowledge that we do not have any obligation to use in connection with
the transactions contemplated by this Commitment Letter, or to furnish to you, confidential information obtained by us from other
companies.

 

You
further acknowledge and agree that (a) no fiduciary, advisory or agency relationship between you, on the one hand, and Wells Fargo,
on the other hand, is intended to be or has been created in respect of any of the transactions contemplated by this Commitment
Letter, irrespective of whether Wells Fargo or one or more of its affiliates has advised or is advising you on other matters,
(b) Wells Fargo, on the one hand, and you, on the other hand, have an arms-length business relationship that does not directly
or indirectly give rise to, nor do you rely on, any fiduciary duty on the part of Wells Fargo, (c) you are capable of evaluating
and understanding, and you understand and accept, the terms, risks and conditions of the transactions contemplated by this Commitment
Letter, (d) you have been advised that Wells Fargo or one or more of its affiliates is engaged in a broad range of transactions
that may involve interests that differ from your interests and that Wells Fargo does not have any obligation to disclose such
interests and transactions to you by virtue of any fiduciary, advisory or agency relationship, and (e) you waive, to the fullest
extent permitted by law, any claims you may have against Wells Fargo for breach of fiduciary duty or alleged breach of fiduciary
duty and agree that Wells Fargo shall not have any liability (whether direct or indirect) to you in respect of such a fiduciary
duty claim or to any person asserting a fiduciary duty

 

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    HCAC II, Inc.
April 7, 2016

    

 

claim on behalf of or in right of you, including your stockholders, employees
or creditors.  For the avoidance of doubt, the provisions of this paragraph apply only to the transactions contemplated by
this Commitment Letter and the relationships and duties created in connection with the transactions contemplated by this Commitment
Letter.

 

You
further acknowledge that Wells Fargo or one or more of Wells Fargo’s affiliates are full service securities firm engaged
in securities trading and brokerage activities as well as providing investment banking and other financial services.  In
the ordinary course of business, Wells Fargo or one or more of Wells Fargo’s affiliates may provide investment banking and
other financial services to, and/or acquire, hold or sell, for their respective own accounts and the accounts of customers, equity,
debt and other securities and financial instruments (including bank loans and other obligations) of, you, and Company and other
companies with which you or Company may have commercial or other relationships.  With respect to any debt or other securities
and/or financial instruments so held by Wells Fargo or one or more of its affiliates or any of their respective customers, all
rights in respect of such securities and financial instruments, including any voting rights, will be exercised by the holder of
the rights, in its sole discretion.

 

Governing
Law, Etc.

 

This
Commitment Letter, and the Term Sheet, and the Fee Letter, the rights of the parties hereto or thereto with respect to all matters
arising hereunder or related hereto, and any and all claims, controversies or disputes arising hereunder or related hereto shall
be governed by, and construed in accordance with, the law of the State of New York. Each of the parties hereto (a) agrees that
all claims, controversies, or disputes arising hereunder or hereto shall be tried and litigated only in the state courts, and
to the extent permitted by applicable law, federal courts located in New York, New York and each of the parties hereto submits
to the exclusive jurisdiction and venue of such courts relative to any such claim, controversy or dispute, or any appellate court
from any thereof and (b) waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance
of such action or proceeding in any such court; provided, that, notwithstanding the preceding sentence and the governing
law provisions of this Commitment Letter, it is understood and agreed that (x) the interpretation of the definition of “Material
Adverse Effect” set forth in the Merger Agreement (and whether or not a Material Adverse Effect has occurred), (y) the
determination of the accuracy of any Specified Merger Agreement Representation and whether as a result of any inaccuracy thereof
you or your applicable affiliate has the right to terminate your or their obligations under the Merger Agreement or to decline
to consummate the Acquisition and (z) the determination of whether the Acquisition has been consummated in accordance
with the terms of the Merger Agreement and, in any case, claims or disputes arising out of any such interpretation or determination
or any aspect thereof, in each case, shall be governed by, and construed and interpreted in accordance with, the laws of the State
of Delaware, regardless of the laws that might otherwise govern under applicable principles of conflicts of laws thereof.

 

Waiver
of Jury Trial

 

To
the maximum extent permitted by applicable law, each party hereto irrevocably waives any and all rights to a trial by jury in
respect of to any claim, counterclaim, controversy, or dispute (whether based in contract, tort, or otherwise) arising out of
or relating to this Commitment Letter, the Acquisition or the Transactions or the actions of Wells Fargo or any of its affiliates
in the negotiation, performance, or enforcement of this Commitment Letter or the Transactions or the actions of Wells Fargo or
any of its affiliates in the negotiation, performance, or enforcement of this Commitment Letter.

 

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    HCAC II, Inc.
April 7, 2016

    

 

Patriot
Act

 

Wells
Fargo hereby notifies you that pursuant to the requirements of the USA PATRIOT Act, Title III of Pub. L. 107-56 (signed into law
October 26, 2001) (the “PATRIOT Act”), Wells Fargo may be required to obtain, verify and record information that identifies
the Loan Parties (as defined in the Term Sheet), which information includes the name, address, tax identification number and other
information regarding the Loan Parties that will allow Wells Fargo to identify the Loan Parties in accordance with the PATRIOT
Act. This notice is given in accordance with the requirements of the PATRIOT Act. You agree to cause Company to provide Wells
Fargo, prior to the Closing Date, with all documentation and other information required by bank regulatory authorities under “know
your customer” and anti-money laundering rules and regulations, including, without limitation, the PATRIOT Act.

 

Counterparts;
Electronic Execution

 

This
Commitment Letter (together with the Term Sheet and the Fee Letter) sets forth the entire agreement between the parties with respect
to the matters addressed herein, supersedes all prior communications, written or oral, with respect to the subject matter hereof,
and may not be amended or modified except in writing signed by the parties hereto. Each of the parties hereto agrees that this
Commitment Letter is a binding and enforceable agreement with respect to the subject matter contained herein (including an obligation
to negotiate in good faith); it being acknowledged and agreed that the commitments of Wells Fargo hereunder to fund the Facility
on the Closing Date are subject only to the Funding Conditions, and upon satisfaction (or waiver by Wells Fargo) of the Funding
Conditions, the funding of the Facility shall occur. This Commitment Letter may be executed in any number of counterparts, each
of which, when so executed, shall be deemed to be an original and all of which, taken together, shall constitute one and the same
letter. Delivery of an executed counterpart of a signature page to this letter by telefacsimile or other electronic transmission
shall be as effective as delivery of a manually executed counterpart of this letter. This Commitment Letter shall not be assignable
by you (except by you (and with prior written notice to Wells Fargo) to one or more of your affiliates that is a domestic “shell”
company controlled, directly or indirectly, by the Sponsor to effect the consummation of the Acquisition prior to or substantially
concurrently with (and to the Company substantially concurrently with) the consummation of the closing of the Acquisition) without
the prior written consent of Wells Fargo (any purported assignment without such consent shall be null and void), is intended to
be solely for the benefit of the parties hereto, and is not intended to confer any benefits upon, or create any rights in favor
of, any person other than the parties hereto and the Indemnified Persons. In the event that this Commitment Letter is terminated
or expires, the Indemnification, Confidentiality, Exclusivity, Sharing Information; Absence of Fiduciary Relationship; Affiliate
Activities, Governing Law, Etc., and the Waiver of Jury Trial provisions hereof shall survive such termination or expiration.
Anything contained herein to the contrary notwithstanding, the obligations of Sponsor under this Commitment Letter shall terminate
at the time of the initial funding of the Facility.

 

Nothing
contained herein shall limit or preclude Wells Fargo or any of its affiliates from carrying on any business with, providing banking
or other financial services to, or from participating in any capacity, including as an equity investor, in any entity or person
whatsoever, including, without limitation, any competitor, supplier or customer of you, the seller(s) of the stock of the Company,
or the Company, or any of your or their respective affiliates, or any other entity or person that may have interests different
than or adverse to such entities or persons. Neither Wells Fargo nor any of its affiliates has assumed or will assume an advisory,
agency, or fiduciary responsibility in your or your affiliates’ favor with respect to any of the Transactions or the process
leading thereto (irrespective of whether Wells Fargo or any of its affiliates has advised or is currently advising you or your
affiliates on other matters).

 

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    HCAC II, Inc.
April 7, 2016

    

 

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    HCAC II, Inc.
April 7, 2016

    

 

This
Commitment Letter shall expire at 5 p.m. (New York time) on April 8, 2016, unless prior thereto Wells Fargo has received a copy
of this Commitment Letter and the Fee Letter signed by you. In the event (i) the initial funding under the Facility does not occur
on or prior to August 19, 2016, (ii) after the execution of the Merger Agreement and prior to the consummation of the Transactions,
the Merger Agreement terminates in accordance with its terms, or (iii) the consummation of the Acquisition occurs with or without
the funding of the Facility (such earliest time, the “Expiration Date”), then Wells Fargo’s commitment
to provide the Facility shall automatically expire on such date unless Wells Fargo agrees in its sole discretion to an extension,
provided, that any rights of Wells Fargo that survive termination shall continue in full force and effect for purposes
of clarity. If you elect to deliver your signed counterpart of this Commitment Letter by telecopier or other electronic transmission,
please arrange for the executed original to follow by next-day courier.

 

	 	Very truly yours,
	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION  
	 	 
	 	By:	/s/
    Vivek Tayal   
	 	 	Name: 	Vivek
                                         Tayal

	 	 	Title:	Director

 

	ACCEPTED AND AGREED TO

                                                                                this
                                         7th day of April, 2016
	 
	 	 
	HCAC II, INC. 	 
	 	 
	By:	/s/
Daniel J. Hennessy	 
	Name: 	Daniel
    J. Hennessy	 
	Title:	Chairman
    and Chief Executive Officer	 

 

     

    HCAC II, Inc.
April 7, 2016

    

 

ANNEX
A

 

Indemnification
Provisions

 

Capitalized
terms used herein shall have the meanings ascribed to them in the amended and restated commitment letter, dated April 7, 2016
(the “Commitment Letter”) addressed to HCAC II, Inc. (the “Indemnifying Party”)
from Wells Fargo Bank, N.A. (“Wells Fargo”).

 

To
the fullest extent permitted by applicable law, the Indemnifying Party agrees that it will indemnify, defend, and hold harmless
each of the Indemnified Persons from and against (i) any and all losses, claims, damages, obligations, penalties, judgments, awards,
liabilities, costs, expenses and disbursements, (ii) any and all actions, suits, proceedings and investigations in respect thereof,
and (iii) any and all reasonable and documented legal or other costs, expenses or disbursements (supported by customary backup
documentation in reasonable detail; provided nothing herein shall require the furnishing of or access to any information, materials
or documents subject to attorney-client privilege) in giving testimony or furnishing documents in response to a subpoena or otherwise
(including, without limitation, the costs, expenses and disbursements, as and when incurred, of investigating, preparing or defending
any such action, proceeding or investigation (whether or not in connection with litigation in which any of the Indemnified Persons
is a party) and including, without limitation, any and all losses, claims, damages, obligations, penalties, judgments, awards,
liabilities, costs, expenses and disbursements, resulting from any act or omission of any of the Indemnified Persons), directly
or indirectly, caused by, relating to, based upon, arising out of or in connection with (a) the Transactions, (b) the Commitment
Letter or the Facility, or (c) any untrue statement of a material fact contained in, or omissions in, Information furnished by
Indemnifying Party or Company, or any of their subsidiaries or affiliates in connection with the Transactions or the Commitment
Letter; provided, however, such indemnity agreement shall not apply to any portion of any such loss, claim, damage,
obligation, penalty, judgment, award, liability, cost, expense or disbursement of an Indemnified Person to the extent it is found
in a final judgment by a court of competent jurisdiction (not subject to further appeal) to have resulted primarily and directly
from (x) the gross negligence, bad faith or willful misconduct of such Indemnified Person or which result from a claim brought
as a result of the breach by such Indemnified Person of its obligations under any documents executed in connection with the Facility
or (y) any dispute solely among the Indemnified Persons and/or their related parties and not arising out of any act or omission
of you, any of your or its subsidiaries or the Sponsor (other than any proceeding against Wells Fargo solely in its capacity or
in fulfilling its role as an Agent or similar role under the Facility).

 

These
Indemnification Provisions shall be in addition to any liability which the Indemnifying Party may have to the Indemnified Persons.

 

If
any action, suit, proceeding or investigation is commenced, as to which any of the Indemnified Persons proposes to demand indemnification,
it shall notify the Indemnifying Party with reasonable promptness; provided, however, that any failure by any of
the Indemnified Persons to so notify the Indemnifying Party shall not relieve the Indemnifying Party from its obligations hereunder.
Wells Fargo, on behalf of the Indemnified Persons, shall have the right to retain counsel of its choice to represent the Indemnified
Persons, and the Indemnifying Party shall pay the reasonable and documented fees, expenses, and disbursement of such counsel (supported
by customary backup documentation in reasonable detail; provided nothing herein shall require the furnishing of or access to any
information, materials or documents subject to attorney-client privilege), and such counsel shall, to the extent consistent with
its professional responsibilities, cooperate with the Indemnifying Party and any counsel designated by the

 

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Indemnifying Party.
The Indemnifying Party shall be liable for any settlement of any claim against any of the Indemnified Persons made with its written
consent, which consent shall not be unreasonably withheld. Without the prior written consent of Wells Fargo, the Indemnifying
Party shall not settle or compromise any claim, permit a default or consent to the entry of any judgment in respect thereof unless
any such settlement or compromise exclusively requires payment of money by you.

 

Neither
expiration nor termination of Wells Fargo’s commitments under the Commitment Letter or funding or repayment of the loans
under the Facility shall affect these Indemnification Provisions which shall remain operative and continue in full force and effect.

 

The
following shall hereinafter be referred to as the “SPAC Provision”. Reference is made to the final prospectus
of Hennessy Capital Acquisition Corp. II (the “SPAC”), filed with the Securities and Exchange Commission
and dated July 22, 2015 (File No. 333-205152) (the “Prospectus”). Wells Fargo warrants and represents
that it has read the Prospectus and understands that the SPAC has established a trust account containing the proceeds of its initial
public offering (the “IPO”) and from certain private placements occurring simultaneously with the IPO
(collectively, with interest accrued from time to time thereon, the “Trust Fund”) initially in an amount
of $199,599,000 for the benefit of the SPAC’s public stockholders (“Public Stockholders”) and
certain parties (including the underwriters of the IPO) and that, except for a portion of the interest earned on the amounts held
in the Trust Fund, the SPAC may disburse monies from the Trust Fund only: (i) to the Public Stockholders in the event they elect
to redeem the shares of common stock of the SPAC in connection with the consummation of the SPAC’s initial business combination
(as such term is used in the Prospectus) (“Business Combination”), (ii) to the Public Stockholders if
the SPAC fails to consummate a Business Combination within 24 months from the closing of the IPO, (iii) any amounts necessary
to pay any taxes and for working capital purposes or (iv) to the SPAC after or concurrently with the consummation of a Business
Combination. For and in consideration of the SPAC entering into discussions with Wells Fargo regarding a potential business relationship
(which may include a Business Combination), and for other good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, Wells Fargo hereby agrees it does not now and shall not at any time hereafter have any right, title, interest
or claim of any kind in or to any monies in the Trust Fund or distributions therefrom, or make any claim against, the Trust Fund,
regardless of whether such claim arises as a result of, in connection with or relating in any way to, any proposed or actual business
relationship between the SPAC and Wells Fargo, this Commitment Letter or any other matter, and regardless of whether such claim
arises based on contract, tort, equity or any other theory of legal liability (any and all such claims are collectively referred
to hereafter as the “Claims”). Wells Fargo hereby irrevocably waives any Claims it may have against
the Trust Fund (including any distributions therefrom) now or in the future as a result of, or arising out of, any negotiations,
contracts or agreements with the SPAC and will not seek recourse against the Trust Fund (including any distributions therefrom)
for any reason whatsoever (including, without limitation, for an alleged breach of this Commitment Letter). Wells Fargo agrees
and acknowledges that such irrevocable waiver is material to this Commitment Letter and the Transactions described herein and
specifically relied upon by the SPAC to induce it to enter into the Transactions or other matters described or referred to in
this Commitment Letter, and Wells Fargo further intends and understands such waiver to be valid, binding and enforceable under
applicable law. To the extent Wells Fargo commences any action or proceeding based upon, in connection with, relating to or

 

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arising
out of any matter relating to the SPAC, which proceeding seeks, in whole or in part, monetary relief against the SPAC, Wells Fargo
hereby acknowledges and agrees that its sole remedy shall be against funds held outside of the Trust Fund and that such claim
shall not permit Wells Fargo (or any party claiming on Wells Fargo’s behalf or in lieu of Wells Fargo) to have any claim
against the Trust Fund (including any distributions therefrom) or any amounts contained therein. In the event Wells Fargo commences
any action or proceeding based upon, in connection with, relating to or arising out of any matter relating to the SPAC, which
proceeding seeks, in whole or in part, relief against the Trust Fund (including any distributions therefrom) or the Public Stockholders,
whether in the form of money damages or injunctive relief, the SPAC shall be entitled to recover from Wells Fargo the associated
reasonable and documented legal fees and costs in connection with any such action, in the event the SPAC prevails in such action
or proceeding.

 

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TERM
SHEET

 

This
Term Sheet is part of the amended and restated commitment letter, dated April 7, 2016 (the “Commitment Letter”),
addressed to HCAC II, Inc. by Wells Fargo Bank, N.A. (“Wells Fargo”) and is subject to the terms and
conditions of the Commitment Letter. Capitalized terms used herein and the accompanying Annexes shall have the meanings set forth
in the Commitment Letter unless otherwise defined herein.

 

	Borrowers:	Initially,
    Company (as successor by merger to Newco), and immediately following the Closing Date, United Subcontractors, Inc. (“USI”)
    and its domestic subsidiaries reasonably acceptable to Agent with assets to be included in the Borrowing Base (individually,
    a “Borrower” and collectively, the “Borrowers”).  
	 	 
	Guarantors:	Parent,
    all of USI’s wholly owned domestic subsidiaries (other than the Borrowers) and any parent holding companies of the Borrowers.  Such
    Guarantors, together with Borrowers, each a “Loan Party” and collectively, the “Loan
    Parties”). 
	 	 
	Lenders
    and Agent:	Wells
    Fargo and such other reasonably acceptable lenders (the “Lenders”) as Agent elects to include within
    the syndicate in consultation with USI following the Closing Date.  Wells Fargo shall be the sole agent for the
    Lenders (in such capacity, the “Agent”).
	 	 
	Facility:	A
    senior secured facility (the “Facility”) in a maximum credit amount (“Maximum Credit
    Amount”) of $25,000,000. Under the Facility, Lenders will provide Borrowers with a revolving credit facility
    (the “Revolver”).
	 	 
	Sole
Lead Arranger and Sole Bookrunner:	Wells
    Fargo
	 	 
	Revolver:	Advances
    under the Revolver (“Advances” or “Revolving Loans”) will be available
    starting on the Closing Date (subject to the Closing Borrowing Base) and thereafter up to a maximum amount outstanding at
    any one time of $25,000,000 (the “Maximum Revolver Amount”). In addition, the amount of Advances
    plus Letters of Credit shall not, at any time, exceed the Borrowing Base (as hereinafter defined).
	 	 
	Closing
    Borrowing Base:	In
    the event that as of the Closing Date, the Agent has not received a final report from the field examinations of the business
    and collateral of Borrowers in each case as provided below, the Borrowing Base for purposes of the initial

 

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	Revolving
Loans and Letters of Credit on the Closing Date (the “Closing Borrowing Base”) shall be equal to the
sum of (i) 40% multiplied by the book value of the accounts receivable of Borrowers (exclusive of retainage and unbilled accounts
receivable); plus (ii) the amount equal to the lesser of (A) 25% of the net book value of the inventory of Borrowers and (B) $5,000,000;
minus (iii) applicable reserves established by Agent.

         

        The
        Closing Borrowing Base shall only be in effect until the earlier of 60 days after the Closing Date or the date Agent has
        received the final report from a current field examination, provided, that, Agent may adjust the Closing Borrowing Base
        as to the eligible accounts and eligible inventory based on any field examination results at the time that it receives
        such results and otherwise at any time prior to the receipt of such field examination based on information that would
        give rise to the rights of the Agent under the Loan Documents to make adjustments to the Borrowing Base.

         

        Subject
        to the Certain Funds Provisions, on and after the receipt by Agent of the field examination results as provided below,
        Revolving Loans and Letters of Credit shall be provided to Borrowers subject to the terms and conditions of the Loan Documents
        and availability under the Borrowing Base, which will be calculated as set forth below.

         

        In
        the event that the Agent has not received a final report from the field examinations of the business and collateral of
        Borrowers prior to the Closing Date, Borrowers shall use commercially reasonable efforts to provide Agent and the field
        examiners sufficient access and information to complete such field examinations (it being understood that the completion
        of such examinations shall not be a condition precedent, but if not delivered prior to the Closing Date will be required
        on or prior to the 60th day following the Closing Date) and Parent, Sponsor and their affiliates agree to use commercially
        reasonable efforts and to cooperate in good faith to cause such field examinations to be commenced as soon as practicable
        following the date of the Commitment Letter. If the Agent has not received such final report from the field examinations
        on or prior to the 60th day after the Closing Date (or such later date as is agreed to by Agent in its sole discretion),
        availability shall be zero on and after such 60th day (or such other date as is agreed to by Agent in its sole discretion)
        until Agent’s receipt and reasonable opportunity to review the results of such final report from the field examination.

 

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        Borrowing Base:
	
        Subject to the Closing Borrowing Base
        as provided above and the Certain Funds Provision, the Revolving Loans and Letters of Credit shall be provided to each Borrower
        subject to the terms and conditions of the Loan Documents and availability under the Borrowing Base, which will be calculated as
        follows:

         

        (a) 85% multiplied by the net amount
        of the eligible accounts of such Borrower (with a sublimit of up to $2,500,000 for accounts representing progress billings subject
        to a field exam report), plus

         

        (b) the amount equal to the lesser of
        (i) 30% multiplied by the net book value (calculated at the lower of cost or market on a first in, first out basis) of eligible
        inventory of such Borrower or (ii) $5,000,0001; plus

         

        (c) domestic cash of the Borrowers,
        in an amount not to exceed $3,000,000, on deposit in blocked accounts subject to a first priority perfected lien in favor of the
        Agent and which give the Agent exclusive access and control for withdrawal purposes; minus

         

        (d) customary reserves.

	 	 
	
        Letter of Credit Subfacility:
	Under the Revolver, Borrowers will be entitled to request that Agent issue letters of credit (each, a “Letter of Credit”) in an aggregate amount not to exceed $12,000,000 at any one time outstanding. The aggregate amount of outstanding Letters of Credit will be reserved against the credit availability created under the Borrowing Base and the Maximum Revolver Amount. 
	 	 
	Optional Prepayment:	The Advances may be prepaid in whole or in part from time to time without penalty or premium.  The Revolver commitments may be reduced from time to without penalty or premium.
	 	 
	Mandatory
Prepayments:	
        The Facility will be required
to be prepaid in an amount equal to the amount by which the Revolving Loans plus the Letter of 

___________________

	1	To accommodate alternate advance rates of up to an amount equal to the lesser of (i) 60% of cost on eligible inventory or (ii)
85% of the net orderly liquidation value of eligible inventory, Wells Fargo will require appraisals.

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	 	Credit
    usage exceed the Borrowing Base.
	 	 
	 	In
    the event of a change of control (to be defined), the Borrowers will be required to make an offer to prepay amounts outstanding
    under the Facility.
	 	 
	 	Any
    mandatory prepayments shall be applied first, to Advances outstanding under the Revolver, and second to cash collateralize
    the Letters of Credit. 
	 	 
	Use of Proceeds:	To (i) refinance certain existing indebtedness of Borrowers’, (ii) fund fees and expenses associated with the Facility and the Transactions, and (iii) finance the ongoing general corporate needs of Borrowers.  
	 	 
	Fees and Interest Rates:	As set forth in the Fee Letter and on Annex A-I.
	 	 
	Term:	Five (5) years from the Closing Date (“Maturity Date”).
	 	 
	Collateral:	
        Subject to permitted liens (to be mutually
        agreeable to Agent and Borrowers) and customary exclusions to be mutually agreed upon, (a) a first priority perfected security
        interest in the cash, accounts receivable, books and records, chattel paper, deposit accounts (and all cash, checks and other negotiable
        instruments, funds and other evidences of payment held therein), securities accounts and operating accounts, inventory, and all
        other working capital assets and all documents, instruments, and general intangibles related to any of the foregoing of the Loan
        Parties’ now owned and hereafter acquired, and all proceeds and products thereof (“Revolver Priority Collateral”)
        and (b) a second priority perfected security interest in all of the Loan Parties’ now owned and hereafter acquired property
        and assets and all proceeds and products thereof other than the Revolver Priority Collateral (“Term Loan Priority Collateral”),
        including stock (or other ownership interests in) of each Loan Party (other than the stock of the Parent) and all proceeds
        and products thereof; provided that only 65% of the stock of (or other ownership interests in) any controlled foreign corporations
        will be required to be pledged if the pledge of a greater percentage would result in material adverse tax consequences.

         

        A customary intercreditor agreement
        reasonably acceptable to the Agent in its sole discretion will be entered into by the Agent and the agent (the “Term
        Agent”) under the term loan facility in an aggregate principal amount of up to $100 million (“Term Loan
        Facility”) of the Borrowers in place on the Closing Date governing the respective rights and obligations

 

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	 	 of the Lenders
        and the lenders under such Term Loan Facility with respect to the Collateral and other customary matters.
	 	 
	
        Collection: 

         

         

         

         
	
        The Loan Parties will direct all of
        their customers to remit all collections to deposit accounts that are subject to control agreements reasonably satisfactory to
        Agent.

         

        The Agent shall have full dominion over
        all collections and cash will be swept against the Advances on a daily basis at all times (i) at the election of the Agent, upon
        the occurrence and during the continuance of a payment, reporting or bankruptcy or insolvency related event of default, and (ii)
        commencing when excess availability is less than the greater of (A) 12.5% of the Maximum Credit Amount and (B) $5,000,000, and
        continuing until, in each case, such time as no such event of default exists and excess availability has been greater than the
        threshold set forth in clause (ii) at all times for 30 consecutive days.

	 	 
	
        Bank Products: 

         
	
        The Loan Parties shall be required to
        establish and maintain their primary depository and treasury management relationships with Wells Fargo or one of its affiliates.

         

        Each Loan Party will offer Wells Fargo
        (or one or more of its affiliates) the first opportunity to bid for all other bank products, including, but not limited to, foreign
        exchange and interest rate hedging products, for so long as the Facility is in place.

         

        Nothing herein is a recommendation,
        solicitation, commitment or offer by Wells Fargo to provide any Loan Party any interest rate protection, currency hedge or commodities
        hedge product.

         

	Revolver Documentation:	The Loan Documents shall be consistent with this Term Sheet and customary for transactions of this type and shall be negotiated in good faith by the Borrowers and Wells Fargo so that the Loan Documents, giving effect to the Certain Funds Provision, are finalized as promptly as practicable after the acceptance of this Commitment Letter (the “Revolver Facility Documentation Principles”).
	 	 
	
        Representations and Warranties:

         
	The credit agreement governing the Facility, will contain the following representations and warranties (which will be the only representations and warranties) regarding the Loan Parties and their subsidiaries (and certain of which will be subject to materiality thresholds, baskets and customary exceptions and qualifications to be mutually agreed upon)

 

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	 	regarding:
    due organization and qualification; subsidiaries; due authorization; no conflict; governmental and third party consents and
    approvals; binding obligations; perfected liens; title to assets; no encumbrances; jurisdiction of organization; location
    of chief executive office; organizational identification number; commercial tort claims; litigation; compliance with laws
    (including SPAC-related) and material agreements; accuracy of financial statements and no material adverse change; employee
    benefits and ERISA; environmental condition; intellectual property and licenses; leases; deposit accounts and securities accounts;
    complete disclosure; solvency; material contracts; Patriot Act, FCPA and OFAC; accuracy of disclosure; employee matters and
    absence of labor disputes; identification of subsidiaries; indebtedness; payment of taxes; margin stock; governmental regulation;
    not an investment company or subject to regulation restricting the transactions; use of proceeds; insurance; deposit accounts;
    Parent as holding company; acquisition documents; collateral matters; governmental contracts; hedge agreements; eligible accounts;
    eligible inventory; location of inventory and equipment; and inventory records.
	 	 
	Affirmative
    Covenants: 	The
    credit agreement governing the Facility will contain the following affirmative covenants (which will be the only affirmative
    covenants and certain of which will be subject to materiality thresholds, baskets and customary exceptions and qualifications
    to be mutually agreed upon) which will be applicable to the Loan Parties and their subsidiaries regarding: financial statements,
    reports, and certificates; monthly collateral reporting (provided, that, borrowing base certifications and related
    collateral reports would be required on a weekly basis when excess availability is less than the greater of (A) 12.5% of the
    Maximum Credit Amount and (B) $5,000,000); existence; maintenance of properties; taxes; insurance; material intellectual property;
    inspection; compliance with laws; regulatory matters; environmental; disclosure updates and customary notifications; formation
    of subsidiaries; conduct of business; books and records; further assurances; lender meetings; material contracts; use of proceeds;
    margin regulations; deposit accounts; cash management; hedge agreements; additional guarantors and collateral; employee benefits;
    ERISA and location of inventory and equipment.
	 	 
	Negative
    Covenants:	The
    credit agreement governing the Facility will contain the following negative covenants (which will be the only negative covenants
    and certain of which will be subject to materiality

 

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		thresholds, baskets and customary exceptions and qualifications to be mutually agreed upon) which will be applicable to the Loan Parties and their subsidiaries regarding: limitations on: indebtedness; liens; fundamental changes; disposal of assets; change of name; nature of business; prepayments and amendments; change of control; distributions; accounting methods; investments (other than permitted acquisitions subject to terms and conditions to be agreed upon); transactions with affiliates; use of proceeds; Parent as holding company; mergers, consolidations and acquisitions; redemptions; dividends and payments on junior capital (including an absolute prohibition on all payments of fixed cash dividends in respect of “qualified preferred” stock); sale/leaseback transactions; limitation on issuance of equity interests (subject to the SPAC structure); speculative hedging; changes in fiscal year or accounting practices; restrictive agreements; operating leases; consignments; and inventory and equipment with bailees.
	 	 
	Financial Covenants:	
        Upon the occurrence and during the continuance
        of a Covenant Testing Trigger Period (as defined below), the Parent and its subsidiaries shall be required to maintain a fixed
        charge coverage ratio of 1.10 tested on a monthly basis.

         

        “Covenant Testing Trigger
        Period” means the period (i) commencing on any day that excess availability is less than the greater of (A) 12.5%
        of the Maximum Credit Amount and (B) $5,000,000, and (ii) continuing until excess availability has been greater than or equal to
        the threshold set forth in clause (i) at all times for 30 consecutive days.

	 	 
	Events of Default:	The
following events of default (which will be the only events of default) will be contained in the credit agreement governing the
Facility and will be applicable to the Loan Parties and their subsidiaries (and certain of which will be subject to materiality
thresholds, exceptions and grace periods to be mutually agreed upon) regarding: non-payment of obligations; non-performance of
covenants and obligations; material judgments; bankruptcy or insolvency; any restrainment against the conduct of all or a material
portion of business affairs; default on other material debt (including hedging agreements); cross default to the Term Loan Facility;
cross acceleration to other material debt; breach of any representation or warranty; limitation or termination of any guarantee
with respect to the Facility; impairment of security; employee benefits; change in control; and actual or asserted invalidity
or unenforceability of any Facility documentation or liens securing obligations under

 

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	 	the
    Facility documentation.
	 	 
	Conditions Precedent to Closing:	The conditions precedent set forth on Annex B-I.
	 	 
	Assignments: 	Each Lender shall be permitted to assign its rights and obligations under the Loan Documents, or any part thereof, to any person or entity with the consent of Agent and with the consent of Borrower (such consent not to be unreasonably withheld or delayed); provided that no consent by Borrower shall be required for assignments (a) to another Lender, an affiliate of a Lender or an approved fund under common control with a Lender or (b) after the occurrence and during the continuance of a payment or bankruptcy or insolvency-related event of default. Subject to customary voting limitations, each Lender shall be permitted to sell participations in such rights and obligations, or any part thereof to any person or entity without the consent of Borrowers.
	 	 
	Governing Law and Forum:	New York; provided, that, notwithstanding the governing law provisions of the Loan Documents, it is understood and agreed that (a) the interpretation of the definition of “Material Adverse Effect” (and whether or not a Material Adverse Effect has occurred), (b) the determination of the accuracy of any Specified Merger Agreement Representation and whether as a result of any inaccuracy thereof either Sponsor or its applicable affiliate has the right to terminate its obligations under the Merger Agreement or to decline to consummate the Acquisition and (c) the determination of whether the Acquisition has been consummated in accordance with the terms of the Merger Agreement and, in any case, claims or disputes arising out of any such interpretation or determination or any aspect thereof shall, in each case, be governed by, and construed in accordance with, the laws of the State of Delaware, regardless of the laws that might otherwise govern under applicable principles of conflict of laws thereof.
	 	 
	Counsel
    to Agent and the Lenders:	Morgan,
Lewis & Bockius, LLP

 

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Annex
A-I

 

Interest
Rates and Fees

 

	Interest
    Rate Options	Borrowers
    may elect that the loans bear interest at a rate per annum equal to:
	 	 
	 	(i)
    the Base Rate plus the Applicable Margin; or
	 	 
	 	(ii)
    the LIBOR Rate plus the Applicable Margin.
	 	 
	 	As
    used herein:
	 	 
	 	The
    “Base Rate” means the greatest of (a) the prime lending rate as announced from time to time by Wells
    Fargo Bank, N.A., (b) the Federal Funds Rate plus 1⁄2%, and  (c) the three month LIBOR Rate (which rate shall
    be determined on a daily basis), plus 1%.
	 	 
	 	The
    “LIBOR Rate” means the rate per annum as reported on Reuters Screen LIBOR01 page (or any successor
    page) 2 business days prior to the commencement of the requested interest period, for a term, and in an amount, comparable
    to the interest period and the amount of the LIBOR Rate Loan requested (whether as an initial LIBOR Rate Loan or as a continuation
    of a LIBOR Rate Loan or as a conversion of a Base Rate Loan to a LIBOR Rate Loan) by Borrowers in accordance with the definitive
    credit agreement (and, if any such rate is below zero, the LIBOR Rate shall be deemed to be zero), which determination shall
    be made by Agent and shall be conclusive in the absence of manifest error.  The LIBOR Rate shall be available for
    interest periods of 1, 2, 3 or 6 months.
	 	 
	 	“Applicable
    Margin” means, as of any date of determination, the following margin based upon Borrowers’ most recent
    monthly average excess availability calculation:

  

	Level	 	Average Excess Availability	 	Applicable Margin in respect of Base Rate Loans under the Revolver	 	 	Applicable Margin in respect of LIBOR Rate Loans under the Revolver (the “Revolver LIBOR Margin”)	 
	I	 	>50% of the Maximum Credit Amount	 	 	0.75	%	 	 	1.75	%
	II	 	<50% of the Maximum Credit Amount	 	 	1.25	%	 	 	2.25	%

 

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	Interest
    Payment Dates	In
    the case of loans bearing interest based upon the Base Rate (“Base Rate Loans”), monthly in arrears.  
	 	 
	 	In
    the case of Loans bearing interest based upon the LIBOR Rate (“LIBOR Rate Loans”), on the last day
    of each relevant interest period; provided that the interest for any interest period in excess of 3 months shall be
    paid in 3 month intervals after the commencement of the applicable interest period and on the last day of such interest period.
	 	 
	Letter
    of Credit Fees	An
    amount equal to the Revolver LIBOR Margin per annum times the amount of each Letter of Credit, payable in cash monthly in
    arrears, plus the charges imposed by the letter of credit issuing bank; provided however, that if the Default
    Rate is in effect, the Letter of Credit Fee shall be increased by an additional 2.0% per annum.
	 	 
	Default
    Rate	At
    any time when an event of default has occurred and is continuing and upon written election of the Agent or the Required Lenders
    (to be defined in the Loan Documents) all amounts owing under the Facility shall bear interest at 2.0% per annum above the
    interest rate otherwise applicable thereto. 
	 	 
	Rate
    and Fee Basis	All
    per annum rates shall be calculated on the basis of a year of 360 days and the actual number of days elapsed.
	 	 
	Fees	Certain
    fees shall be as agreed to by the parties in the Fee Letter.
	 	 
	Unused
    Revolver Fee	A
    fee in an amount equal to 0.50% per annum times the unused portion of the Revolver shall be due and payable monthly in arrears.

 

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Annex
B-I

 

The
availability of the Facility is subject to the satisfaction of each of the following conditions precedent:

 

(a)          Except as contemplated by the Merger Agreement, since December 31, 2015, no Material Adverse Effect (as defined in the Merger
Agreement as in effect on the date hereof, as used herein for clarity, a “Material Adverse Effect”)
shall have occurred that would excuse Parent or Newco from their obligation to consummate the Acquisition under the Merger Agreement;

 

(b)          The Acquisition shall have been consummated, or shall be consummated substantially concurrently with the initial borrowing under
the Facility in accordance with the Merger Agreement. The Merger Agreement shall not have been amended or waived, and no consents
shall have been given with respect thereto, in any material respect by you or your subsidiaries in a manner materially adverse
to Wells Fargo (in its capacity as such) without the consent of Wells Fargo (such consent not to be unreasonably withheld, conditioned
or delayed based on the interests of Wells Fargo); provided that (a) the granting of any consent under the Merger Agreement
that is not materially adverse to the interests of Wells Fargo shall not otherwise constitute an amendment or waiver and (b) any
change to the definition of “Material Adverse Effect” in the Merger Agreement shall be deemed materially adverse to
Wells Fargo;

 

(c)          The Equity Contribution shall have been consummated, or shall be consummated substantially concurrently with the borrowing under
the Facility, in at least the amount set forth in the Commitment Letter (as such amount may be modified pursuant to paragraph
(b) above); provided that if the Company enters into any subscription agreements, backstop agreements, warrant agreements, registration
rights agreements, conversion agreements, lock-up agreements, or any other similar agreements respecting the Company’s capital
structure in connection with the Equity Contribution or the Transactions, such agreements shall be on terms and conditions reasonably
satisfactory to Wells Fargo. The Refinancing shall have been consummated, or shall be consummated substantially concurrently with
the initial borrowing under the Facility;

 

(d)          Subject to the Certain Funds Provision, (i) delivery of Loan Documents duly executed by the Loan Parties (or applicable third
parties as the case may be) including, without limitation, a credit agreement, security agreements, control agreements, landlord
waivers, mortgages, pledge agreements, intercreditor agreements and subordination agreements, and (ii) receipt of other documentation
customary for transactions of this type including legal opinions, officers’ certificates, instruments necessary to perfect
the Agent’s first priority security interest in the Collateral, and certificates of insurance policies and/or endorsements
naming Agent as additional insured or loss payee, as the case may be, all in form and substance reasonably satisfactory to Agent;

 

(e)          With respect to each Loan Party, receipt of evidence of customary corporate authority and officer’s certificates (including
copies of governing documents certified as of a recent date by the appropriate governmental official) and certificates of status
and good standing issued as of a recent date by the jurisdictions of organization of each Loan Party;

 

(f)           The Agent shall have received, at least five (5) Business Days prior to the Closing Date, all documentation and other information
about the Borrowers and the Guarantors and their senior management and key principals required under applicable “know your
customer” and anti-money laundering rules and regulations, including the PATRIOT Act, that has been requested in writing
at least

 

    	 	- 3 -	 

    HCAC II, Inc.
April 7, 2016

    

 

ten (10) Business Days prior to the Closing Date; provided that Agent shall have received all documentation and other
information required under this clause (f) for any new Loan Party formed or senior management or key principal appointed within
ten (10) Business Days prior to the Closing Date;

 

(g)          The capital structure of the Loan Parties shall be reasonably satisfactory to Agent (provided, Wells Fargo acknowledges that the
capital structure of the Company contemplated in the Merger Agreement (as in effect on the date hereof) is reasonably satisfactory
to Wells Fargo);

 

(h)          Minimum
liquidity of the Loan Parties at closing, after giving effect to the initial use of proceeds (including the payment of all fees
and expenses), of not less than $7,500,000, of which at least $5,000,000 must be derived from excess availability (excluding any
qualified cash permitted under the Borrowing Base) under the Revolver, the Company’s LTM Adjusted EBITDA (as mutually
agreed upon) for the last twelve months prior to the Closing Date is not less than $40.0 million, and Agent shall have
received a closing borrowing base certificate using, if applicable, the Closing Borrowing Base and otherwise in accordance with
the Agent’s customary procedures and practices so as to obtain current results;

 

(i)           Borrowers shall have received proceeds of the Term Loan Facility in an aggregate amount of at least $100,000,000 (it being understood
that any purchase price reductions in respect of the Acquisition or any original issue discount, in each case reducing the proceeds
of the Term Loan Facility, shall reduce such minimum amount on a dollar-for-dollar basis) and otherwise on terms and conditions
reasonably satisfactory to Agent, and the provider of such debt shall have entered into an intercreditor agreement with Agent
in form and substance reasonably satisfactory to Agent;

 

(j)           All documents and instruments, in each case, as applicable, in accordance with the Revolver Facility Documentation Principles
and subject to the Certain Funds Provision, required to perfect the Agent’s security interests in the Collateral shall have
been executed and delivered and, if applicable, be in proper form for filing;

 

(k)          Agent shall have received a solvency certificate consistent with the certificate attached hereto as Annex B-II from the chief
financial officer of Parent;

 

(l)           All costs, fees and expenses contemplated hereby and under the Fee Letter and the other Loan Documents due and payable on the
Closing Date to Agent and Lenders in respect of the Transactions shall have been paid;

 

(m)         Agent shall have received (a) audited consolidated balance sheets and related statements of operations, shareholders’ equity
and cash flows of the Borrowers for the fiscal years ended December 31, 2015 and December 31, 2014, (b) unaudited consolidated
balance sheets and related consolidated statements of operations and cash flows of the Borrowers for each subsequent fiscal quarter
(other than the fourth fiscal quarter) ended at least 45 days prior to the Closing Date, (c) unaudited consolidated balance sheets
and related consolidated statements of operations and cash flows of the Borrowers for the two months ended immediately prior to
the Closing Date, and (d) satisfactory projections with respect to the Borrowers and its subsidiaries for the period from fiscal
year 2016 through fiscal year 2020 (it being acknowledged that the projections delivered to Agent on February 23, 2016 are satisfactory);
and

 

(n)          The Specified Merger Agreement Representations shall be true and correct to the extent required by the Certain Funds Provision
and the Specified Representations shall be true and correct

 

    	 	- 4 -	 

    HCAC II, Inc.
April 7, 2016

    

 

in
all material respects (except in the case of any Specified Representation which expressly relates to a given date or period, such
representation and warranty shall be true and correct in all material respects as of the respective date or for the respective
period, as the case may be); provided, that to the extent that any of the Specified Representations are qualified by or
subject to a “material adverse effect”, “material adverse change” or similar term or qualification, the
definition thereof shall be the definition of “Material Adverse Effect” (as defined in the Merger Agreement) for purposes
of any such representations and warranties made or deemed made on, or as of, the Closing Date (or any date prior thereto).

 

    	 	- 5 -	 

    HCAC II, Inc.
April 7, 2016

    

 

Annex
B-II 

 

FORM
OF SOLVENCY CERTIFICATE

 

SOLVENCY
CERTIFICATE

 of

 PARENT

 AND
ITS SUBSIDIARIES

 

Pursuant
to the Credit Agreement2, the undersigned hereby certifies, solely in such undersigned’s capacity as [chief
financial officer] [chief accounting officer] [specify other officer with equivalent duties] of the Parent, and not individually,
as follows:

 

I
am generally familiar with the businesses and assets of the Parent and its Subsidiaries3, taken as a whole, and am
duly authorized to executed this Solvency Certificate on behalf of the Loan Parties pursuant to the Credit Agreement. As of the
date hereof, after giving effect to the consummation of the Transactions, including the making of the Revolving Loans under the
Credit Agreement, on the date hereof, and after giving effect to the application of the proceeds of such Indebtedness:

 

	 	a.	The
    fair value of the assets of the Parent and its Subsidiaries, on a consolidated basis, exceeds, on a consolidated basis, their
    debts and liabilities, subordinated, contingent or otherwise;

 

	 	b.	The
    present fair saleable value of the property of the Parent and its Subsidiaries, on a consolidated basis, is greater than the
    amount that will be required to pay the probable liability, on a consolidated basis, of their debts and other liabilities,
    subordinated, contingent or otherwise, as such debts and other liabilities become absolute and matured;

 

	 	c.	The
    Parent and its Subsidiaries, on a consolidated basis, are able to pay their debts and liabilities, subordinated, contingent
    or otherwise, as such liabilities become absolute and matured; and

 

	 	d.	The
    Parent and its Subsidiaries, on a consolidated basis, are not engaged in, and are not about to engage in, business for which
    they have unreasonably small capital.

 

For
purposes of this Certificate, the amount of any contingent liability at any time shall be computed as the amount that would reasonably
be expected to become an actual and matured liability. Capitalized terms used but not otherwise defined herein shall have the
meanings assigned to them in the Credit Agreement.

 

[Signature
Page Follows]

 

___________________

	2	Credit Agreement to be defined.

	3	“Subsidiaries” to be defined.

 

     

    HCAC II, Inc.
April 7, 2016

    

 

IN
WITNESS WHEREOF, the undersigned has executed this Certificate in such undersigned’s capacity as [chief financial officer]
[chief accounting officer] [specify other officer with equivalent duties] of the Parent, on behalf of the Parent, and not
individually, as of the date first stated above.

 

	 	[PARENT]
	 	 	 
	 	By:	     
	 	Name: 	 
	 	Title: 	 

 

 

- 2 -Exhibit 10.3

 

Execution Version

April 7, 2016

 

HCAC II, Inc.

c/o Hennessy Capital Acquisition Corp. II

700 Louisiana Street, Suite 900

Houston, TX 77002

Attention: Kevin M. Charlton

 

Project Legend

Amended and Restated Commitment Letter

 

Ladies and Gentlemen:

 

HCAC II, Inc. (“Newco”),
a wholly owned subsidiary of Hennessy Capital Acquisition Corp. II (“Parent”), each formed at the direction
of Hennessy Capital Partners II LLC and/or its affiliates (collectively, “Sponsor” or “you”)
has advised GSO Capital Partners LP (together with its affiliates and funds and accounts managed or sub-advised by any of them,
“GSO”, “Commitment Parties” “we” or “us”)
that you are seeking to acquire (the “Acquisition”), USI Senior Holdings, Inc. (the “Acquired
Business” or “Target”) pursuant to that certain agreement and plan of merger dated as of
April 1, 2016 (the “Acquisition Agreement”) whereby Newco will merge with and into the Target. The Acquisition,
the entering into and funding of the Term Facility (as defined below), the Refinancing (as defined below), and the Revolving Credit
Facility (as defined below) and the payment of related fees and expenses are referred to herein collectively as the “Transactions”,
and the date on which the Transactions are consummated is referred to herein as the “Closing Date”. As
mentioned in our previous conversations, we are excited about this opportunity to provide you with debt financing for the Transactions
as we are already familiar with the industry and the Acquired Business. Capitalized terms used herein and not otherwise defined
shall have the meaning set forth in the Term Sheets (as defined below).

 

You have also advised GSO that you intend that:

 

		(a)	the Sponsor and other investors (collectively with the Sponsor, the “Investors”)
will directly or indirectly contribute to Parent, for further contribution directly or indirectly to Newco, an aggregate amount
of cash equity (which, in respect of any equity of Parent other than common stock or “qualified preferred”, shall be
on terms reasonably acceptable to the Commitment Parties) (collectively, the “Equity Contribution”) that
represents, together with rollover equity (which may be cash or non-cash) of (i) the Target held by management and current
investors in the Target or (ii) of the Parent held by current investors in the Parent, not less than $199,500,000;
	 	 	 
		(b)	the Borrower (as defined in the Term Facility Term Sheet) will obtain the senior secured unitranche
term facility described in the Summary of Principal Terms and Conditions attached hereto as Exhibit B (the “Term
Facility Term Sheet”, and, collectively with the Conditions Precedent attached hereto as Exhibit C, the “Term
Sheets”) in an aggregate amount of $100.0 million;

 

     

     

    

 

		(c)	the Borrower will use commercially reasonable efforts to obtain a senior secured asset-based revolving
credit facility from a revolving lender selected by the Borrower and reasonably acceptable to GSO (provided, Wells Fargo Bank,
National Association, is reasonably acceptable to GSO) which shall be subject to customary intercreditor arrangements set forth
in an intercreditor agreement (the “Intercreditor Agreement”) reasonably satisfactory to the Sponsor,
GSO and the agent under such senior secured asset-based revolving credit facility, in an aggregate amount up to $25.0 million (or
such greater amount as is determined by the Borrower and reasonably acceptable to GSO) (the “Revolving Credit Facility”);
and

 

		(d)	all indebtedness of the Company and its subsidiaries under that certain Revolving Credit and Term
Loan Agreement, dated as of May 1, 2015, by and among SunTrust Bank, United Subcontractors, Inc., USI Intermediate Holdings, Inc.
and Target, shall have been paid in full, and all commitments, security interests and guaranties in connection therewith shall
have been terminated and released (or arrangements therefor reasonably satisfactory to the Commitment Parties shall have been made)
(the transactions described in this clause (d) are collectively referred to herein as the “Refinancing”).

 

Immediately after consummating the Transactions,
the Borrower and its subsidiaries will have no outstanding indebtedness except as described above and except for (i) indebtedness
permitted to remain outstanding under the Acquisition Agreement, (ii) indebtedness permitted to be incurred under the Acquisition
Agreement prior to the Closing Date, and (iii) trade payables, capital leases and equipment financings that the Borrower and the
Commitment Parties reasonably agree may remain outstanding after the Closing Date (the indebtedness described in clauses (i) through
(iii) above, collectively, the “Permitted Surviving Debt”).

 

In connection with the foregoing, GSO is pleased
to advise you of its commitment (on behalf of funds and accounts managed or sub-advised by GSO and its affiliates) to provide the
entire principal amount of the Term Facility, upon the terms and subject to the conditions set forth or referred to in this commitment
letter (the “Commitment”) (including Exhibit A, Exhibit B and Exhibit C and other
attachments hereto, this “Commitment Letter”). This Commitment Letter amends and restates that certain
commitment letter dated April 1, 2016, among GSO and you.

 

You hereby appoint GSO to act, and GSO (or
our designee reasonably acceptable to you) hereby agrees to act, as the agent, collateral agent, sole bookrunner and sole lead
arranger for the Term Facility on the terms and subject to the conditions set forth or referred to in this Commitment Letter. GSO
(or our designee reasonably acceptable to you), in such capacities, will perform the duties and exercise the authority customarily
performed and exercised by it in such roles. You agree that no other titles will be awarded and no compensation (other than that
expressly contemplated by this Commitment Letter) will be paid in connection with the Term Facility unless you and we shall so
agree.

 

From the date hereof until the earliest of:

 

(a)the mutual agreement of the parties
hereto not to pursue the execution of the definitive agreements relating to the Term Facility (“Definitive Agreements”);

 

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(b)the Closing Date; and

 

(c)the Termination Date (as defined below)
(or such later date as you and GSO shall have mutually agreed to extend GSO’s Commitment hereunder),

 

unless you first obtain our approval, you:

 

		(i)	shall not, and shall cause your affiliates, agents, representatives, counsel, consultants and advisors
and any other person acting on your or their behalf not to, directly or indirectly solicit, participate in any negotiations or
discussions with or provide or afford access to information to any third party with respect to, or otherwise effect, facilitate,
encourage or accept any offers for the funding of the Term Facility or any alternative equity or debt financing arrangements in
connection with the Transactions (other than the Equity Contribution, on terms and in the amount reasonably agreed by GSO, and
the Revolving Credit Facility); and

 

		(ii)	shall terminate or have terminated prior to the date hereof any written agreement or arrangement
related to the foregoing to which you or your affiliates are parties, as well as any activities and discussions related to the
foregoing as may be continuing on the date hereof with any party other than GSO and its representatives.

 

All of the rights of GSO under this paragraph
shall remain in full force and effect notwithstanding the termination of this Commitment Letter or GSO’s commitments and
agreements hereunder.

 

GSO may assign through a syndication process
or otherwise, its Commitment in part to one or more financial institutions or other entities engaged in the business of holding
loans or securities, provided, that (a) such assignments to banks, financial institutions, funds, accounts and clients managed
or sub-advised by GSO will be permitted without consultation with the Borrower, and (b) such assignments to banks, financial institutions
and funds which are not, in each case, managed or sub-advised by GSO will be permitted with the prior written consent (not to be
unreasonably withheld, delayed or conditioned) of the Borrower. You agree to use your commercially reasonable efforts to assist
GSO and cooperate with GSO in such syndication process to such extent as GSO may reasonably request until 60 days after the Closing
Date. Notwithstanding anything to the contrary contained in this Commitment Letter, neither the commencement nor completion of
a syndication process or compliance with any of the conditions set forth in this paragraph shall constitute a condition precedent
to the availability and initial funding of the Term Facility on the Closing Date or at any time thereafter.

 

You hereby represent and
covenant that to your knowledge (a) all written factual information (other than (i) the Projections (as defined below), (ii) other
forward-looking information and (iii) information of a general economic or industry nature) that has been or will be made available
to GSO by or on behalf of you or any of your representatives in connection with the transactions contemplated hereby (the “Information”),
when taken as a whole, does not or will not, when

 

    3

     

    

 

furnished, contain any untrue statement of material fact or omit to state a material
fact necessary in order to make the statements contained therein not materially misleading in light of the circumstances under
which such statements are made (after giving effect to all supplements and updates thereto from time to time) and (b) the projections,
when taken as a whole, with respect to the Borrower and its subsidiaries (the “Projections”) that have
been or will be made available to GSO by or on behalf of you or any of your representatives in connection with the transactions
contemplated hereby have been or will be prepared in good faith based upon assumptions believed by you to be reasonable at the
time furnished to GSO (it being recognized by the Commitment Parties that such Projections are not to be viewed as facts and are
subject to significant uncertainties and contingencies many of which are beyond your control, that no assurance can be given that
any particular financial projections will be realized, that actual results may differ from projected results and that such differences
may be material). You agree that if at any time prior to the closing of the Transactions any of the representations in the preceding
sentence would be incorrect in any material respect if the Information and Projections were being furnished, and such representations
were being made, at such time, then you will use commercially reasonable efforts to promptly supplement the Information and the
Projections so that such representations will be correct in all material respects under those circumstances, provided, that any
such supplementation shall cure any breach of such representations. You understand that in syndicating the Commitment we may use
and rely on the Information and Projections without independent verification thereof.

 

As consideration for the
commitments and agreements of the Commitment Parties under the Commitment Letter with respect to the Term Facility, you agree to
pay (or cause to be paid) to GSO, for the account of each Commitment Party, the fee based compensation described in the separate
Fee Letter dated the date hereof and delivered herewith (the “Fee Letter”) on the terms and subject to
the conditions expressly set forth therein.

 

Each of the parties hereto
agrees that this Commitment Letter is a binding and enforceable agreement with respect to the subject matter contained herein (including
an obligation to negotiate in good faith); it being acknowledged and agreed that the commitments of the Commitment Parties hereunder
to fund the Term Facility on the Closing Date are subject only to the applicable express conditions set forth in Exhibit C
hereto (the “Funding Conditions”), and upon satisfaction (or waiver by the Commitment Parties) of the
Funding Conditions, the funding of Term Facility shall occur; it being understood and agreed that there are no other conditions
(implied or otherwise) to the commitments hereunder, including compliance with the terms of the Commitment Letter, and the Term
Facility Documentation.

 

Notwithstanding anything
in this Commitment Letter, the Fee Letter, the Term Facility Documentation or any other letter agreement or other undertaking concerning
the financing of the Transactions to the contrary but subject to the conditions precedent in Exhibit C, (i) the only representations
and warranties the making and accuracy of which shall be a condition precedent to the funding under the Term Facility on the Closing
Date shall be (A) such of the representations and warranties made by or on behalf of the Target and its subsidiaries in the Acquisition
Agreement as are material to the interests of the Commitment Parties, but only to the extent that you have (or your applicable
affiliate has) the right, pursuant to the Acquisition Agreement, to terminate your (or its) obligations under the Acquisition Agreement
to consummate the Acquisition (or the right not to consummate the Acquisition pursuant to the

 

    4

     

    

 

Acquisition Agreement) as a result
of a breach of such representations and warranties (the “Specified Acquisition Agreement Representations”)
and (B) the Specified Representations (as defined below) and (ii) the terms of the Term Facility Documentation and the Closing
Deliverables shall be in a form such that they do not impair the funding under the Term Facility on the Closing Date if the conditions
expressly set forth in Exhibit C hereto are satisfied (or waived by the Commitment Parties) (it being understood that, to
the extent any security interest in any Collateral is not or cannot be provided (other than a security interest that can be created
by the execution and delivery of a security agreement) and/or perfected (other than (A) a lien on Collateral that may be perfected
by the filing of a financing statement under the Uniform Commercial Code (“UCC”) or (B) a pledge of the
equity interests of the Borrower and its material wholly-owned U.S. subsidiaries (solely to the extent required in the Term Facility
Term Sheet) with respect to which a lien may be perfected upon closing by the delivery of a stock or equivalent certificate (other
than those stock or equivalent certificates of subsidiaries of the Company not provided to you after your use of commercially reasonable
efforts to obtain such stock or equivalent certificates)) to the extent required under the Term Sheets on the Closing Date after
your use of commercially reasonable efforts to do so without undue burden or expense, then the provision and/or perfection of security
interests in such Collateral shall not constitute a condition precedent to the availability and funding of the Term Facility on
the Closing Date, but shall be required to be provided and/or perfected within 90 days after the Closing Date (subject to extensions
agreed to by GSO)). For purposes hereof, “Specified Representations” means the representations and warranties
set forth in the Term Facility Documentation relating to corporate or other organizational existence, power and authority (as to
execution, delivery and performance of the Term Facility Documentation) of the Borrower and the Guarantors, the due authorization,
execution, delivery, enforceability and non-contravention of the Term Facility Documentation with the governing documents of the
Borrower and Guarantors, solvency as of the Closing Date (after giving effect to the Transactions) of the Parent and its subsidiaries
on a consolidated basis (such representation and warranty to be consistent with the solvency certificate in the form set forth
in Annex I attached to Exhibit C hereto), Federal Reserve margin regulations, the Investment Company Act, the PATRIOT Act,
OFAC or the Foreign Corrupt Practices Act and other anti-terrorism laws (including the use of proceeds of the Term Facility not
violating such laws), and the creation, validity and perfection of security interests in the Collateral (subject to permitted liens
as set forth in the Term Facility Documentation and the limitations set forth in the preceding sentence and the Term Sheets). This
paragraph and the provisions contained herein shall be referred to as the “Certain Funds Provision”.

 

You agree to indemnify and
hold harmless GSO as set forth in Exhibit A hereto, the terms of which are incorporated herein in their entirety.

 

This Commitment Letter and
our commitments and undertakings hereunder shall not be assignable by you (except by you to one or more of your affiliates that
is a domestic “shell” company controlled, directly or indirectly, by the Sponsor to effect the consummation of the
Acquisition prior to or substantially concurrently with (and to the Target substantially concurrently with) the consummation of
the closing of the Acquisition) without our prior written consent (and any attempted assignment without such consent shall be null
and void), is intended to be solely for the benefit of the parties hereto

 

    5

     

    

 

(and Indemnified Parties), is not intended to confer
any benefits upon, or create any rights in favor of, any person other than the parties hereto (and Indemnified Parties) and is
not intended to create a fiduciary relationship between the parties hereto. Any and all obligations of, and services to be provided
by, GSO hereunder (including, without limitation, its Commitment) may be performed and any and all rights of GSO hereunder may
be exercised by or through any of its affiliates or branches having the ability to perform GSO’s obligations hereunder. This
Commitment Letter may not be amended or any provision hereof waived or modified except by an instrument in writing signed by us
and you. This Commitment Letter may be executed in any number of counterparts, each of which shall be an original and all of which,
when taken together, shall constitute one agreement. Delivery of an executed counterpart of a signature page of this Commitment
Letter by facsimile transmission shall be effective as delivery of a manually executed counterpart hereof. This Commitment Letter
supersedes all prior understandings, whether written or oral, between us with respect to the Term Facility. This Commitment Letter
shall be governed by, and construed in accordance with, the laws of the state of New York.

 

Each of the parties hereto
hereby irrevocably and unconditionally (a) submits, for itself and its property, to the exclusive jurisdiction of any New York
State court or Federal court of the United States of America sitting in New York City, and any appellate court from any thereof,
in any action or proceeding arising out of or relating to this Commitment Letter, the Fee Letter or the transactions contemplated
hereby or thereby, or for recognition or enforcement of any judgment, and agrees that all claims in respect of any such action
or proceeding may be heard and determined in such New York State court or, to the extent permitted by law, in such Federal court,
(b) waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the
laying of venue of any suit, action or proceeding arising out of or relating to this Commitment Letter or the transactions contemplated
hereby or thereby in any New York State court or in any such Federal court and (c) waives, to the fullest extent permitted by law,
the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court, provided, that,
notwithstanding the preceding sentence and the governing law provisions of this Commitment Letter, it is understood and agreed
that (x) the interpretation of the definition of “Material Adverse Effect” (and whether or not a Material Adverse
Effect has occurred), (y) the determination of the accuracy of any Specified Acquisition Agreement Representation and whether
as a result of any inaccuracy thereof you or your applicable affiliate has the right to terminate your or their obligations under
the Acquisition Agreement or to decline to consummate the Acquisition and (z) the determination of whether the
Acquisition has been consummated in accordance with the terms of the Acquisition Agreement and, in any case, claims or disputes
arising out of any such interpretation or determination or any aspect thereof, in each case, shall be governed by, and construed
and interpreted in accordance with, the laws of the State of Delaware, regardless of the laws that might otherwise govern under
applicable principles of conflicts of laws thereof.

 

This Commitment Letter is
delivered to you on the understanding that neither this Commitment Letter nor any of its respective terms or substance, nor the
activities of GSO or you pursuant hereto, shall be disclosed, directly or indirectly by GSO or you, to any other person except
(a) to their respective officers, directors, employees, attorneys, accountants and advisors on a confidential and need-to-know
basis, (b) pursuant to the order of any court or administrative agency or otherwise as required by applicable law, regulation,
compulsory legal process or as requested by a governmental authority (in which case each of GSO and you agrees to inform the other
promptly thereof), (c) in connection with the exercise of any remedy or enforcement of any

 

    6

     

    

 

right under this Commitment Letter,
(d) in connection with any syndication or other marketing materials in connection with the Term Facility and (e) in any
proxy statement or similar public filing related to the Acquisition or in connection with any public filing requirement; provided
that you may disclose this Commitment Letter and the contents hereof to the sellers and the Target, its subsidiaries and their
respective officers, directors, employees, attorneys, accountants and advisors on a confidential and need-to-know basis; provided
further that nothing herein shall prevent GSO or its affiliates who are providing services hereunder from disclosing any such
information (i) upon the request or demand of any regulatory authority (including any self-regulatory authority) having jurisdiction
over GSO or any of its affiliates (in which case GSO or such affiliate agrees to inform you promptly, unless GSO or such affiliate
is prohibited by applicable law from so informing you, or except in connection with any request as part of a regulatory examination
or audit), (ii) to the extent that such information becomes publicly available other than by reason of disclosure by GSO or any
of its affiliates in violation of this paragraph, (iii) to the extent that such information is received by GSO or its affiliates
from a third party that is not, to GSO or such affiliate’s knowledge, subject to confidentiality obligations to you, the
Company, the Borrower or the Sponsor, (iv) to the extent that such information is independently developed by GSO or its affiliates,
in each case, so long as not based on information obtained in a manner that would otherwise violate this provision, (v) to GSO’s
affiliates (including funds managed, advised or sub-advised by GSO) and its and their officers, directors, employees, legal counsel,
independent auditors, fund advisors, other experts, advisors or agents, GSO’s current or prospective funding sources and
other persons authorized by GSO to organize, present or disseminate such information, or (vi) with your prior written consent.
Notwithstanding the foregoing, GSO may publicize in its marketing materials that GSO acted as arranger and lender in connection
with the Term Facility (which may include the reproduction of the Borrower’s and the Acquired Business’ logo).

 

EACH OF THE PARTIES HERETO
IRREVOCABLY WAIVES THE RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING, CLAIM OR COUNTERCLAIM BROUGHT BY OR ON BEHALF OF ANY PARTY
RELATED TO OR ARISING OUT OF THE ACQUISITION, THIS COMMITMENT LETTER OR THE PERFORMANCE OF SERVICES CONTEMPLATED HEREUNDER.

 

GSO hereby notifies you that
pursuant to the requirements of the USA PATRIOT Act, Title III of Pub. L. 107-56 (signed into law October 26, 2001) (the “PATRIOT
Act”), GSO and any other lender under the Term Facility may be required to obtain, verify and record information
that identifies you and/or the Borrower, which information includes the name, address, tax identification number and other information
regarding you and/or the Borrower that will allow GSO or such lender under the Term Facility to identify the Borrower in accordance
with the PATRIOT Act. This notice is given in accordance with the requirements of the PATRIOT Act and is effective as to GSO and
any other lender under the Term Facility.

 

You acknowledge that GSO
and its respective affiliates may be providing debt financing, equity capital or other services (including financial advisory services)
to other companies in respect of which you may have conflicting interests. Neither we nor any of our affiliates will use confidential
information obtained from you by virtue of the transactions contemplated by this Commitment Letter or our other relationships with
you in connection with the performance by us of services for other companies, and we will not furnish any such information to other

 

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companies. You also acknowledge that neither we nor any of our affiliates has any obligation to use in connection with the transactions
contemplated by this Commitment Letter, or to furnish to you, confidential information obtained by us from other companies.

 

If the foregoing correctly
sets forth our agreement, please indicate your acceptance of the terms of this Commitment Letter by returning to us executed counterparts
hereof not later than 5:00 p.m., New York City time, on April 8, 2016. GSO’s Commitment hereunder and its agreements contained
herein will expire at such time in the event that we have not received such executed counterparts in accordance with the immediately
preceding sentence. This Commitment Letter and GSO’s Commitment hereunder and its agreements contained herein will terminate
at the earlier of: (a) the closing of the Term Facility; (b) the closing of the Transactions without the use of the financing proposed
hereunder; (c) the date of termination of the Acquisition Agreement by you or with your written consent, in each case, prior
to the closing of the Acquisition; or (d) in the event that the initial borrowing in respect of the Term Facility does not occur
on or before August 19, 2016 (the “Termination Date”), unless we shall, in our sole discretion, agree
to an extension; provided, that any rights of GSO that survive termination shall continue in full force and effect for purposes
of clarity. Notwithstanding any term or provision hereof to the contrary, all of the rights and obligations of GSO and you hereunder
in respect of governing law, submission to jurisdiction, indemnification, confidentiality, exclusivity, and syndication shall remain
in full force and effect regardless of whether definitive financing documentation shall be executed and delivered and notwithstanding
the termination of this Commitment Letter or GSO’s commitments and agreements hereunder.

 

[Remainder of this
page intentionally left blank]

 

    8

     

    

 

The Commitment Parties are
pleased to have been given the opportunity to assist you in connection with the financing for the Acquisition.

 

	 	Very truly yours,
	 	 
	 	GSO CAPITAL PARTNERS LP 
	 	 	 
	 	By	/s/ Marisa Beeney

	 	 	Name: Marisa Beeney
	 	 	Title: Authorized Signatory

 

[SIGNATURE PAGE TO COMMITMENT LETTER]

     

     

    

 

	Accepted and agreed to as of	 
	the date first above written:	 
	 	 
	HCAC II, Inc.	 
	 	 	 
	By	/s/
Daniel J. Hennessy	 
	 	Name: 
Daniel J. Hennessy	 
	 	Title: Chairman and Chief Executive Officer	 

 

[SIGNATURE PAGE TO COMMITMENT LETTER]

     

     

    

 

EXHIBIT A

 

INDEMNIFICATION PROVISIONS

 

Unless otherwise defined, terms used herein
shall have the meanings assigned thereto in the commitment letter dated today’s date (the “Commitment Letter”)
(such term and each other capitalized term used but not defined herein having the meaning assigned in the Commitment Letter).

 

In accordance with the Commitment Letter, if
the Closing Date occurs, you (the “Indemnitor”) shall pay promptly (and in any event within thirty (30)
days) following receipt of the relevant invoice (including customary backup documentation in reasonable detail supporting such
invoice) for all of GSO’s reasonable and documented out-of-pocket fees, costs and expenses (including, without limitation,
all reasonable and documented out-of-pocket costs and expenses arising in connection with the syndication of the Term Facility
and any due diligence investigation performed by GSO, and the reasonable and documented out-of-pocket fees and expenses of special
counsel to GSO and also of, without limitation, any local legal counsel as shall be reasonably necessary following consultation
with you in connection with the transactions contemplated hereby) arising in connection with the negotiation, preparation, execution,
delivery or administration of the Commitment Letter and the definitive documentation for the Transactions.

 

In addition, the Indemnitor hereby indemnifies
and holds harmless all Indemnified Parties (as defined below) from and against all Liabilities (as defined below). “Indemnified
Party” shall mean GSO, the other holders of the Term Facility, each affiliate of any of the foregoing and the respective
directors, officers, agents and employees of each of the foregoing, and each other person controlling any of the foregoing within
the meaning of either Section 15 of the Securities Act of 1933, as amended, or Section 20 of the Securities Exchange Act of 1934,
as amended. “Liabilities” shall mean any and all losses, claims, damages, liabilities or other costs
or expenses to which an Indemnified Party may become subject which arise out of or are related to or result from any transaction,
action or proceeding connected with the Transactions or the other matters described or referred to in the Commitment Letter; provided
that Liabilities shall not include any losses, claims, damages, liabilities or other costs or expenses which result from (i) the
gross negligence, bad faith or willful misconduct of an Indemnified Party or which result from a claim brought as a result of the
breach by such Indemnified Party of its obligations under any documents executed in connection with the Term Facility or (ii) any
dispute solely among the Indemnified Parties and/or their related parties and not arising out of any act or omission of you, any
of your or its subsidiaries or the Sponsor (other than any proceeding against any commitment Party solely in its capacity or in
fulfilling its role as an Agent or Lead Arranger or similar role under the Term Facility). In addition to the foregoing, the Indemnitor
agrees to reimburse each Indemnified Party promptly (and in any event within thirty (30) days) following written demand therefor
(together with customary backup documentation in reasonable detail supporting such reimbursement request; provided nothing herein
shall require the furnishing of or access to any information, materials or documents subject to attorney-client privilege) for
all reasonable and documented out-of-pocket legal or other expenses incurred in connection with investigating, defending or participating
in any action or other proceeding relating to any Liabilities (whether or not such Indemnified Party is a party to any such action
or proceeding).

 

In no event shall you or
the Borrower have any liability to any Indemnified Party for any consequential or punitive damages, except for any such consequential
or punitive damages included in any third party claim in connection with which such Indemnified Person is entitled to indemnification.
If any Indemnified Party is entitled to indemnification under this Exhibit A with respect to any action or proceeding brought by
a third party that is also brought against you, you shall be entitled to assume the defense of any such action or proceeding with
counsel reasonably satisfactory to the Indemnified Party. Upon assumption by you of the defense of any such action or proceeding,
the Indemnified Party shall

 

    A-1

     

    

EXHIBIT A

 

have the right to participate in such action or proceeding and to retain its own counsel but you shall
not be liable for any legal expenses of other counsel subsequently incurred by such Indemnified Party in connection with the defense
thereof unless (i) you have agreed to pay such fees and expenses, (ii) you shall have failed to employ counsel reasonably satisfactory
to the Indemnified Party in a timely manner, or (iii) the Indemnified Party shall have been advised by counsel that there are actual
or potential conflicting interests between you and the Indemnified Party, including situations in which there are one or more legal
defenses available to the Indemnified Party that are different from or additional to those available to you. You shall not consent
to the terms of any compromise or settlement of any action defended by you in accordance with the foregoing without the prior consent
of the Indemnified Party (other than any such compromise or settlement exclusively requiring payment of money by you).

 

The following shall hereinafter be referred to as the “SPAC
Provision”. Reference is made to the final prospectus of Hennessy Capital Acquisition Corp. II (the “SPAC”),
filed with the Securities and Exchange Commission and dated July 22, 2015 (File No. 333-205152) (the “Prospectus”).
GSO warrants and represents that it has read the Prospectus and understands that the SPAC has established a trust account containing
the proceeds of its initial public offering (the “IPO”) and from certain private placements occurring simultaneously
with the IPO (collectively, with interest accrued from time to time thereon, the “Trust Fund”) initially in
an amount of $199,599,000 for the benefit of the SPAC’s public stockholders (“Public Stockholders”) and
certain parties (including the underwriters of the IPO) and that, except for a portion of the interest earned on the amounts held
in the Trust Fund, the SPAC may disburse monies from the Trust Fund only: (i) to the Public Stockholders in the event they elect
to redeem the shares of common stock of the SPAC in connection with the consummation of the SPAC’s initial business combination
(as such term is used in the Prospectus) (“Business Combination”), (ii) to the Public Stockholders if the SPAC
fails to consummate a Business Combination within 24 months from the closing of the IPO, (iii) any amounts necessary to pay any
taxes and for working capital purposes or (iv) to the SPAC after or concurrently with the consummation of a Business Combination.
For and in consideration of the SPAC entering into discussions with GSO regarding a potential business relationship (which may
include a Business Combination), and for other good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, GSO hereby agrees it does not now and shall not at any time hereafter have any right, title, interest or claim of
any kind in or to any monies in the Trust Fund or distributions therefrom, or make any claim against, the Trust Fund, regardless
of whether such claim arises as a result of, in connection with or relating in any way to, any proposed or actual business relationship
between the SPAC and GSO, this Commitment Letter or any other matter, and regardless of whether such claim arises based on contract,
tort, equity or any other theory of legal liability (any and all such claims are collectively referred to hereafter as the “Claims”).
GSO hereby irrevocably waives any Claims it may have against the Trust Fund (including any distributions therefrom) now or in the
future as a result of, or arising out of, any negotiations, contracts or agreements with the SPAC and will not seek recourse against
the Trust Fund (including any distributions therefrom) for any reason whatsoever (including, without limitation, for an alleged
breach of this Commitment Letter). GSO agrees and acknowledges that such irrevocable waiver is material to this Commitment Letter
and the Transactions described herein and specifically relied upon by the SPAC to induce it to enter into the Transactions or other
matters described or referred to in this Commitment Letter, and GSO further intends and understands such waiver to be valid, binding
and enforceable under applicable law. To the extent GSO commences any action or proceeding based upon, in connection with, relating
to or arising out of any matter relating to the SPAC, which proceeding seeks, in whole or in part, monetary relief against the
SPAC, GSO hereby acknowledges and agrees that its sole remedy shall be against funds held outside of the Trust Fund and that such
claim shall not permit GSO (or any party claiming on GSO’s behalf or in lieu of GSO) to have any claim against the Trust
Fund (including any distributions therefrom) or any amounts contained therein. In the event GSO commences any action or proceeding
based upon, in connection with, relating to or arising out of any matter relating to the SPAC, which proceeding seeks, in whole
or in part, relief against the Trust Fund (including any distributions therefrom) or the Public Stockholders, whether in the

 

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EXHIBIT A

 

form
of money damages or injunctive relief, the SPAC shall be entitled to recover from GSO the associated legal fees and costs in connection
with any such action, in the event the SPAC prevails in such action or proceeding.

 

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EXHIBIT B

 

Project Legend

$100.0 Million Term Facility

Summary of Principal Terms and Conditions1

	Borrower:	Initially,
    Target (as successor by merger to Newco), and immediately following the Closing Date, United Subcontractors, Inc. (“USI”,
    the “Company”, or the “Borrower”).
	 	 
	Lenders	Banks,
    financial institutions, funds, accounts and clients managed or sub-advised by GSO (the “Term Lenders”)
	 	 
	Term
    Facility Administrative Agent:	An
    entity acceptable to GSO and the Borrower will act as sole and exclusive administrative agent (in such capacity, the “Term
    Facility Administrative Agent”) and collateral agent for the Term Lenders holding any Term Loans (as defined
    below), and will perform the duties customarily associated with such roles.
	 	 
	Term
    Facility:	A
    term loan unitranche facility in an aggregate principal amount of up to $100.0 million; provided, at GSO’s option, such
    facility may consist of (x)  a first lien, “first-out” senior secured term loan facility (the “First-Out
    Term Facility”; the loans thereunder the “First-Out Term Loans”) in U.S. dollars in
    an aggregate principal amount to be determined and (y) a first lien, “second-out” senior secured term loan facility
    (the “Second-Out Term Facility” (and, together with the First-Out Term Facility, the “Term
    Facility”); the loans thereunder, the “Second-Out Term Loans” (and, together with
    the First-Out Term Loans, the “Term Loans”) in U.S. dollars in an aggregate principal amount of
    to be determined.
	 	 
	Revolving
    Credit Facility	The
    Revolving Credit Facility in an amount of $25.0 million provided by a revolving lender selected by the Borrower and reasonably
    acceptable to GSO. No more than $5 million (not including any amounts drawn or utilized to cash collateralize or otherwise
    backstop outstanding letters of credit) of the Revolving Credit Facility shall be drawn on the Closing Date.
	 	 
	Incremental
    Facilities:	The
    Borrower shall have the right to increase the commitments to the Term Loan (the “Incremental Term Loans”) in an
    aggregate amount up to $25.0 million (the “Incremental Facility”) at any time on or before the final maturity
    date of the Term Facility, provided that (i) GSO shall have the first right to provide the Incremental Facility, (ii) no commitment
    of any Lender shall be

 

 

 

1  All capitalized terms
used but not defined herein have the meanings given to them in the Commitment Letter to which this Term Sheet is attached, including
the Exhibits thereto. In the event any such capitalized term is subject to multiple and differing definitions, the appropriate
meaning thereof in this Exhibit shall be determined by reference to the context in which it is used.

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EXHIBIT B

 

		increased without the consent of such Lender, (iii)
    the Borrower shall satisfy the conditions precedent for extensions of credit set forth below, (iv) the Borrower will be in
    pro forma compliance with all financial covenants, (v) the Incremental Term Loan shall be on terms consistent with
    the Term Loan (and subject to GSO’s prior review), except that (x) that the final maturity date for the Incremental
    Term Loan may be later than the Term Loan, (y) the weighted average life to maturity of any Incremental Term Loan may be longer
    than the weighted average life to maturity of the Term Loan and (z) the all-in pricing (including interest rate and upfront
    fees (equated to an increase in interest rates based on an assumed 4-year average life to maturity in a manner as determined
    by GSO) applicable to the Incremental Term Loan will not be more than 0.50% higher than the corresponding all-in pricing (determined
    on the same basis) applicable to the Term Loan, unless the interest rate margin with respect to the Term Facility is increased
    by an amount equal to the difference between the all-in pricing with respect to the Incremental Term Loan and the all-in pricing
    on the Term Facility minus 0.50%. The Incremental Facility shall become part of the Term Facility.
         

        To
        the extent the proceeds of any Incremental Facility are intended to be applied to finance an acquisition that is permitted
        under the Term Facility Documentation, the availability thereof shall be subject to customary “SunGard” or
        “certain funds” conditionality provisions.

         

        Each
        credit extension under an Incremental Facility made after the Closing Date will be subject to conditions customary
        for transactions of this type, including, without limitation, accuracy of all representations and warranties; absence
        of any default or event of default; absence of any event that could reasonably be expected to have a material adverse
        effect; receipt of borrowing request and such other documents, certificates, information or legal opinions as the Administrative
        Agent or the Required Lenders shall have reasonably requested.

	 	 
	Purpose:	
        The proceeds
of the Term Facility will be used by the Borrower on the Closing Date, together with the proceeds of the Equity Contribution,
solely to pay the consideration for the Acquisition, for the Refinancing, for the payment of any close-out fees in connection
with the termination of hedging obligations, if any, of the Company and its subsidiaries (including accrued and unpaid interest
and applicable premiums), to consummate the Transactions and to pay fees, costs and expenses related to the Transactions and for
other general corporate purposes.

	 	 
	Availability:	The Term Facility will be available in a single drawing on the   Closing Date.  Amounts borrowed under the Term Facility that   are repaid or prepaid may not be reborrowed.    
	 	 
	Interest Rates and Fees:	Adjusted LIBOR plus 10.00% per annum cash interest, payable quarterly.

                                            

                                           “Adjusted LIBOR”
                                         is the London interbank offered rate for U.S. dollars,

 

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EXHIBIT B

 

		adjusted
        for customary Eurodollar reserve requirements, if any, and subject to a floor of 1.00%.

         

        The
        Borrower may elect interest periods of 1, 2, 3 or 6 months (or, if agreed by all relevant Term Lenders, 12 months or a
        shorter period).

         

        Calculation
        of interest shall be on the basis of the actual days elapsed in a year of 360 days and interest shall be payable at the
        end of each interest period and, in any event, at least every 3 months.

	Default Rate:	If any event of default has occurred and is continuing, the then otherwise applicable rate of interest shall be increased by 2% per annum.  Default interest shall be payable on demand.
	 	 
	Final Maturity and

Amortization:	
        The Term Facility will mature on the date that
        is five years after the Closing Date.

         

        The Second-Out Term Facility will not amortize.
        The First-Out Term Facility shall amortize at a rate to be determined and customary for transactions of this type.

         

	Guarantors:	Guaranteed by all of the Company’s wholly owned domestic subsidiaries and any parent holding companies of the Borrower (the “Guarantors”, and together with the Borrower, the “Loan Parties”).  
	 	 
	Security:	All obligations under the Term Facility will be
secured by a first priority perfected security interest in and lien on all real and personal property of the Loan Parties (subject
to a customary excluded property construct to be agreed), including, without limitation, all equipment, general intangibles, goods,
documents, contracts, trademarks, patents, copyrights, intercompany obligations, stock (including stock (and other ownership interests
in) of each Loan Party (other than the stock of Parent) and all proceeds and products thereof; provided that only 65% of the stock
of (or other ownership interests in) controlled foreign corporations will be required to be pledged if the pledge of a greater
percentage would  result in material adverse tax consequences) and membership interests, securities, notes, and all
real estate owned or leased (provided, leasehold mortgages shall not be required for those leases listed on Schedule 3.07(b) of
the Acquisition Agreement as in effect as of the date hereof) by the Loan Parties (but excluding cash, accounts receivable, books
and records, chattel paper, deposit accounts (and all cash, checks and other negotiable instruments, funds and other evidences
of payment held therein), securities accounts and operating accounts, inventory, and all other working capital assets and all
documents, instruments, and general intangibles related to any of the foregoing of the Loan Parties’ now owned and hereafter
acquired, and all proceeds and products thereof, the “Revolving Facility Priority

 

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EXHIBIT B

 

	 	Collateral”), together with a pledge of all stock of the Loan Parties,
    and a second priority perfected security interest in and lien on the Revolving Facility Priority Collateral  (collectively,
    the “Collateral”).
	 	 
	
        Ranking
	
        The Term Facility shall rank
pari passu to the Revolving Credit Facility and senior in right of payment to all other existing and future indebtedness of the
Company.

	 	 
	Mandatory Prepayments:	
        Subject to the Intercreditor
        Agreement, the Borrower shall be required to make an offer to prepay the Loans in an amount equal to 100% of the net cash proceeds
        from equity or debt issuances or the sale or disposition of assets, insurance and condemnation proceeds and other extraordinary
        payments (in each case with exceptions to be agreed).

         

        The Borrower shall be required
        to make an offer prepay the Loans in an amount equal to 75% of excess cash flow (EBITDA, less capital expenditures, cash taxes,
        scheduled debt service and any cash investments made in connection with future acquisitions) on an annual basis as additional payments
        of principal (subject to step downs to be agreed upon).

         

        In the event of a Change
        of Control (to be defined), the Borrower will be required to make an offer to prepay amounts outstanding under the Term Loan at
        the then applicable optional prepayment premium (plus accrued and unpaid interest).

	 	 
	Voluntary Prepayments:	Voluntary prepayments of borrowings will be permitted at any time on or prior to the second anniversary of the Closing Date subject to customary notice requirements and to payment of a customary make-whole amount (at a make-whole price equal to the present value at such prepayment date of (i) the applicable prepayment premium on the first day after the second anniversary of the Closing Date (the “First Call Date”) (expressed in percentage of principal amount as set forth across from “Year 3” in the table below under “Prepayment Premiums”, i.e., 3.00%), plus (ii) all required remaining scheduled interest payments due on such Term Loan to and excluding the First Call Date, computed using a discount rate equal to the sum of 50 basis points plus the yield on U.S. Treasuries of a maturity comparable to the life remaining on such Term Loan).  Voluntary prepayments of borrowings will be permitted at any time following the second anniversary of the Closing Date (subject to customary notice requirements), without premium or penalty (except as provided below), subject to reimbursement of the Term Lenders’ redeployment costs prior to the last day of the relevant interest period.  Voluntary prepayments shall be in minimum principal amounts consistent with the Term Facility Documentation Principles. All 

 

    B-3

     

    

EXHIBIT B

 

	 	voluntary prepayments of the Term Facility (and/or any other facility, class or tranche of Term Loans, as determined by the Borrower in its sole discretion) will be applied to the remaining amortization payments under the Term Facility (and/or such other facility, class or tranche of Term Loans, as determined by the Borrower in its sole discretion) as directed by the Borrower (and absent such direction, in direct order of maturity thereof.
	 	 
	Prepayment Premiums:	Voluntary prepayments of the Term Loans, in whole or in part, after the second anniversary of the Closing Date shall be accompanied by a prepayment premium calculated on the principal amount so prepaid in accordance with the table set forth below:

 

	 	Term Loan Year	Applicable Prepayment Premium
	 	Year 3	3.00%
	 	Year 4	1.00%
	 	Year 5	None

 

	Term Facility Documentation:	The definitive documentation for the Term Facility (the “Term Facility Documentation”) shall be consistent with this Term Sheet and customary for transactions of this type and shall be negotiated in good faith by the Borrower and the Commitment Parties so that the Term Facility Documentation, giving effect to the Certain Funds Provision, is finalized as promptly as practicable after the acceptance of the Commitment Letter (the “Term Facility Documentation Principles”).
	 	 
	Representations and Warranties:	Limited to the following: representations and warranties as to due organization and qualification, good standing, power and authority; location of chief executive officer; organizational identification number; subsidiaries; due authorization, execution, delivery and enforceability; governmental and third party consents and approvals; no conflicts; no violation of law, regulation, judgments, organizational documents or agreements, and no creation of liens; binding obligations; accuracy of financial statements and no material adverse change; no litigation; commercial tort claims; environmental matters;  compliance with laws (including SPAC-related) and material agreements; not an investment company or subject to regulation restricting the transactions; tax matters; margin regulations; use of proceeds; employee benefits and ERISA; ownership of assets;  insurance; intellectual property and licenses; accuracy of disclosure;  employment matters and absence of labor disputes; identification of subsidiaries; solvency; indebtedness; deposit accounts and securities accounts; parent as holding company; acquisition documents; collateral matters; material agreements; Patriot Act; OFAC and FCPA compliance; and government contracts.  
	 	 
	Conditions Precedent	Subject to the Certain Funds Provision, the borrowings under the Term Facility on the Closing Date will be subject solely to the applicable

 

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EXHIBIT B

 

	to Borrowing:	 conditions precedent set forth in Exhibit C to the Commitment Letter.
	 	 
	Covenants:	
        Limited to the following
        (with customary qualifications and mutually agreeable exceptions (including, without limitation, permitted business acquisitions
        and the ability to incur additional debt in connection therewith) to negative covenants):

         

        (a)          Reporting
        Covenants - Delivery of annual unqualified audited financial statements, budgets and forecasts; quarterly and monthly unaudited
        financial statements; quarterly compliance certificates; quarterly management discussion and analysis with financial statements;
        and customary notifications, including, without limitation, notice of any default.

         

        (b)          Affirmative
        Covenants - Maintenance of existence, property, insurance and material intellectual property; compliance with laws; regulatory
        matters; environmental; disclosure updates and customary notifications; formation of subsidiaries; conduct of business; payment
        of taxes and other obligations; books and records; inspection and audit rights; lender calls; lender meetings; use of proceeds;
        margin regulations; deposit accounts; additional guarantors and collateral; cash management; employee benefits; compliance with
        ERISA; and further assurances.

         

        (c)          Negative
        Covenants - Restrictions on indebtedness; liens; mergers, consolidations and acquisitions; disposal of assets; engaging in
        business other than current business and those reasonably related thereto; fundamental changes; amendments; change of control;
        investments; redemptions (including stock purchases), dividends, and payments on junior capital (including an absolute prohibition
        on all payments of fixed cash dividends in respect of “qualified preferred” stock); affiliate transactions; use of
        proceeds; Parent as holding company; covenants limiting dividends or loans made from subsidiaries to the Borrower or on the ability
        of the Borrower or any subsidiary to grant liens; sale/leaseback transactions; limitation on issuance of equity interests (subject
        to the SPAC structure); speculative hedging; amendments to organizational documents and material agreements; restrictive agreements;
        change in fiscal year or accounting practices; and operating leases.

         

        (d)          Financial
Covenant - Maintenance of a maximum total leverage ratio (total debt/EBITDA) (with levels and definitions to be determined
(including the ability to make such calculation net of an amount to be agreed of (i) unrestricted cash and cash equivalents
and (ii) cash and cash equivalents restricted in favor of the Agent) and adjustments to be made to give pro forma 

 

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EXHIBIT B

 

	 	              effect
to the Acquisition).
	 	 
	Board Observation Rights:	GSO will have the right to elect one observer (the “Observer”) to the Company’s Board of Directors. The Observer will be entitled to attend all Board of Directors meetings and receive all materials distributed to the Board of Directors, but shall have no voting rights.
	 	 
	Events of Default:	Limited to the following (with customary notice and cure periods): payment default; breach of representations in any material respect; breach of covenants and non-performance of obligations; cross-default to material indebtedness; cross-default to the Revolving Credit Facility; cross-acceleration to other material debt; bankruptcy or insolvency; any restraint against the conduct of all or a material portion of business affairs; ERISA; material judgments; change in control; termination or invalidity of guaranty or security documents; impairment of security; employee benefits; actual or asserted invalidity or unenforceability of any Term Facility Documentation or liens securing obligations under any Term Facility Documentation; and defaults under other loan documents.
	 	 
	Voting:	
        Amendments and waivers of
        the Term Facility Documentation will require the approval of Term Lenders holding more than 50% of the aggregate principal amount
        of the loans under the Term Facility (the “Required Term Lenders”), except that (a) the consent of each
        Term Lender directly affected thereby shall be required with respect to (i) reductions of principal, interest or fees (but not
        a waiver of the default rate), (ii) extensions of final scheduled maturity or the due date of any scheduled interest or fee payment
        and (iii) changes in voting thresholds and (b) the consent of 100% of all affected Term Lenders shall be required with respect
        to releases of all or substantially all Guarantors or all or substantially all of the Collateral (other than in connection with
        permitted asset sales). The Term Facility Documentation will contain customary protections for the Term Facility Administrative
        Agent and the ability of the Term Lenders to remove the Term Facility Administrative Agent.

         

        Modifications to provisions
        requiring pro rata payments or sharing of payments shall only require approval of the Term Lenders and non-pro rata distributions
        will be permitted in connection with “amend and extend” transactions as permitted by the Term Facility Documentation.

         

        In addition, if the Term
        Facility Administrative Agent and the Borrower shall have jointly identified an obvious error or any error or omission of a technical
        nature in the Term Facility Documentation, then the Term Facility Administrative Agent and the Borrower shall be permitted to 

	 	 

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EXHIBIT B

 

	 	amend
        such provision without any further action or consent of any other party.
	 	 
	Cost and Yield Protection:	
        The Term Facility Documentation shall contain
        customary provisions (a) protecting the Term Lenders against increased costs or loss of yield resulting from changes in reserve,
        capital adequacy and other requirements of law and from the imposition of or changes in certain withholding or other taxes (it
        being understood that the Dodd Frank Wall Street Reform and Consumer Protection Act and Basel III and all regulations, interpretations
        and directives thereunder shall be deemed to be a change in law if, and only if, it is the Term Lender’s general policy or
        practice to demand compensation in similar circumstances under comparable provisions of other financing agreements) and (b) indemnifying
        the Term Lenders for “breakage costs” incurred in connection with, among other things, any prepayment of a LIBOR borrowing
        on a day prior to the last day of an interest period with respect thereto, it being understood that the gross-up obligations shall
        not apply to U.S. federal withholding taxes imposed by Sections 1471 through 1474 of the Internal Revenue Code as of the Closing
        Date (and any amended or successor provisions to the extent substantively comparable thereto) and any regulations promulgated thereunder
        or guidance issued pursuant thereto including any intergovernmental agreements.

         

	Assignments and Participations:	
        The Term Lenders
will be permitted to assign (other than to natural persons) Term Loans with the consent of the Borrower (not to be unreasonably
withheld or delayed); provided that (x) the investment objective or history of any prospective lender or its affiliates
shall be a reasonable basis for the Borrower to withhold consent and (y) no consent of the Borrower shall be required if such
assignment is made (i) to a Permitted Assignee (defined below) or (ii) after the occurrence and during the continuance of a payment
or bankruptcy event of default. The Borrower will be deemed to have consented to any assignment of a Term Loan to which it has
not objected within 5 business days after receipt of a request for consent to such assignment. All assignments (other than assignments
to another Term Lender or an affiliate or approved fund of a Term Lender) will require the consent of the Term Facility Administrative
Agent, not to be unreasonably withheld, conditioned or delayed. Each assignment will be in an amount of an integral multiple of
$1.0 million or, if less, all of such Term Lender’s remaining loans of the applicable class. Assignments will be by novation.
An assignment fee in the amount of $3,500 shall be paid by the respective assignor or assignee to the Term Facility Administrative
Agent. Pledges of loans shall be permitted. “Permitted Assignee” shall
mean a proposed assignee who is either (a) an affiliate or approved fund of a Term Lender (including GSO affiliates or funds and
accounts managed or sub-advised by GSO), (b) an entity which exists under the 

 

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EXHIBIT B

 

	 	laws of the United States, any state thereof, the
District of Columbia or any foreign jurisdiction as: (i) a bank, savings institution, trust company, national banking association,
savings and loan association, investment bank, or commercial credit corporation, (ii) an insurance company, (iii) a public employees’
pension or retirement system, or any other governmental agency supervising the investment of public funds, or (iv) a pension,
pension plan, retirement, or profit-sharing, or commingled trust or fund for which any bank, trust company, national banking association
or investment adviser or pension fund advisory firm registered under the Investment Advisers Act of 1940, as amended, is acting
as trustee or agent, or (c) a nationally recognized investment fund, investment company, money management firm corporation, limited
liability company, limited partnership or general partnership; (d) a certain qualified trust institutions; or (e) an entity substantially
similar to any of the foregoing that is regularly engaged in the business of making or owning commercial loans or holding interests
therein.
	 	 
	 	
        The Term Lenders will be
        permitted to sell participations in loans and commitments without consent being required, subject to customary limitations. Voting
        rights of participants shall be limited to matters in respect of (a) reductions of principal, interest or fees, (b) extensions
        of final maturity or the due date of any amortization, interest or fee payment, (c) releases of the guarantees of all or substantially
        all Guarantors or all or substantially all of the Collateral, and (d) changes in voting threshold. Participants will have customary
        rights with respect to yield protection and increased costs.

         

        The Term Facility Documentation will contain
        customary provisions allowing the Borrower to replace a Term Lender in connection with amendments and waivers requiring the consent
        of all Term Lenders or of all Term Lenders directly and adversely affected thereby (so long as the Required Term Lenders have approved
        the amendment or waiver), increased costs, taxes, etc.

         

	Expenses and Indemnification:	
        If
the Closing Date occurs, the Borrower shall pay (a) all reasonable and documented out-of-pocket expenses of GSO and the Term Facility
Administrative Agent (within 10 business days after a written demand therefor, together with backup documentation supporting such
reimbursement request) associated with the preparation, execution, delivery and administration of the Term Facility Documentation
and any amendment or waiver with respect thereto (but limited, in the case of legal

 

    B-8

     

    

EXHIBIT B

 

	 	fees and expenses, to the reasonable and documented fees, disbursements and other charges of one counsel to GSO and one counsel to the Term Facility Administrative Agent); (b) all reasonable and documented out-of-pocket expenses of the Term Facility Administrative Agent and the Term Lenders, together with backup documentation supporting such reimbursement request (but limited, in the case of legal fees and expenses, to the reasonable and documented out-of-pocket fees, disbursements and other charges of one counsel to the Term Facility Administrative Agent and one counsel to the Term Lenders, and, if necessary, of one local counsel to the Term Facility Administrative Agent and the Term Lenders taken as a whole in any relevant jurisdiction and additional counsel for each group of similarly situated parties in the event of a conflict of interest) in connection with the enforcement of the Term Facility Documentation or protection of rights thereunder; and (c) customary annual fees associated with the administration of the Term Facility by the Term Facility Administrative Agent.

                                                                   

                                                                  Subject to the SPAC Provision, the Sponsor, the other Investors, you (or any of your or their subsidiaries or affiliates) or the Borrower (or any of its subsidiaries or affiliates) will indemnify and hold harmless the Agent, each Term Lender and their respective affiliates and their partners, directors, officers, employees, agents and advisors from and against all losses, claims, damages, liabilities and expenses arising out of or relating to the Term Facility, the transactions in connection therewith or the Borrower’s use of loan proceeds, including, without limitation, reasonable and documented out-of-pocket attorney’s fees, expenses and settlement costs. This indemnification shall survive and continue for the benefit of all such persons and entities.

	 	 
	Equity Co-Invest:	
        GSO shall have the option to invest in the
        common stock of the Parent at a price of $10 per share in an amount to be mutually agreed upon (the “Equity Co-Invest”).

         

	Governing Law and Forum:	New York; provided, that, notwithstanding the governing law provisions of the Term Facility Documentation, it is understood and agreed that (a) the interpretation of the definition of “Material Adverse Effect” (and whether or not a Material Adverse Effect has occurred), (b) the determination of the accuracy of any Specified Acquisition Agreement Representation and whether as a result of any inaccuracy thereof either the Borrower or its applicable affiliate has the right to terminate its obligations under the Acquisition Agreement or to decline to consummate the Acquisition and (c) the determination of whether the Acquisition has been consummated in accordance with the terms of the Acquisition Agreement and, in any case, claims or disputes arising out of any such interpretation or determination or any aspect thereof shall, in each case, be governed by, and construed in accordance with, the laws of the State of Delaware, regardless of the laws that might otherwise govern under applicable principles of conflicts of laws thereof.
	 	 
	Counsel to GSO and Term Lenders:	King & Spalding LLP.

 

    B-9

     

    

EXHIBIT C

 

Project Legend

$100.0 Million Term Facility

Conditions Precedent2

 

Except as otherwise set
forth below, subject in all respects to the Certain Funds Provision, the borrowing under the Term Facility shall be subject to
the satisfaction (or waiver by the Commitment Parties) of the following conditions precedent:

 

1.Except as contemplated
by the Acquisition Agreement, since December 31, 2015, no Material Adverse Effect (as defined in the Acquisition Agreement as in
effect on the date hereof, as used herein for clarity, a “Material Adverse Effect”) shall have occurred
that would excuse Parent or Newco from their obligation to consummate the Acquisition under the Acquisition Agreement.

 

2.The Acquisition shall
have been consummated, or shall be consummated substantially concurrently with the initial borrowing under the Term Facility in
accordance with the Acquisition Agreement. The Acquisition Agreement shall not have been amended or waived, and no consents shall
have been given with respect thereto, in any material respect by you or your subsidiaries in a manner materially adverse to the
Commitment Parties (in each case, in their capacity as such) without the consent of such Commitment Party (such consent not to
be unreasonably withheld, conditioned or delayed based on the interests of such Commitment Party in its capacity as such); provided
that (a) any amendment, waiver or consent that results in (i) a reduction in the amount of consideration required to consummate
the Acquisition shall be deemed not to be materially adverse to the Commitment Parties so long as any such reduction shall be applied
(x) first to reduce the amount of the Equity Contribution by up to $40,000,000 and (y) after giving effect to the application of
the reduction of the amount of consideration in clause (x) above, as follows: (1) 50% to reduce the Term Facility and (2) 50% to
reduce the Equity Contribution (b) the granting of any consent under the Acquisition Agreement that is not materially adverse to
the interests of the Commitment Parties shall not otherwise constitute an amendment or waiver and (c) any change to the definition
of “Material Adverse Effect” in the Acquisition Agreement shall be deemed materially adverse to the Commitment Parties.

 

3.The Equity Contribution
and the Equity Co-Invest (provided GSO elects to exercise such right) shall have been consummated, or shall be consummated substantially
concurrently with the borrowing under the Term Facility, in at least the amount set forth in the Commitment Letter (as such
amount may be modified pursuant to paragraph 2 above); provided that if the Company enters into any subscription agreements, backstop
agreements, warrant agreements, registration rights agreements, conversion agreements, lock-up agreements, or any other similar
agreements respecting the Company’s capital structure in connection with the Equity Contribution or the Transactions, such
agreements shall be on terms and conditions reasonably satisfactory to GSO; provided further, GSO shall be reasonably satisfied
with the final capital structure of the Company on the Closing Date (provided, GSO acknowledges that

 

 

2
All capitalized terms used but not defined herein have the meanings given to them in the Commitment Letter to which this Exhibit
is attached, including the other Exhibits thereto. In the event any such capitalized term is subject to multiple and differing
definitions, the appropriate meaning thereof in this Exhibit shall be determined by reference to the context in which it is used.

    C-1

     

    

EXHIBIT C

 

the capital structure of the
Company contemplated in the Acquisition Agreement (as in effect on the date hereof) is reasonably satisfactory to GSO). The Refinancing
shall have been consummated, or shall be consummated substantially concurrently with the initial borrowing under the Term Facility.

 

4.The Commitment Parties
shall have received (a) audited consolidated balance sheets and related statements of operations, shareholders’ equity and
cash flows of the Company for the fiscal years ended December 31, 2015 and December 31, 2014, (b) unaudited consolidated balance
sheets and related consolidated statements of operations and cash flows of the Company for each subsequent fiscal quarter (other
than the fourth fiscal quarter) ended at least 45 days prior to the Closing Date, (c) unaudited consolidated balance sheets and
related consolidated statements of operations and cash flows of the Company for the two months ended immediately prior to the Closing
Date, and (d) satisfactory projections with respect to the Borrower and its subsidiaries for the period from fiscal year 2016 through
fiscal year 2020 (it being acknowledged that the projections delivered to the Commitment Parties on February 23, 2016 are satisfactory).

 

5.(i) The execution
and delivery by the Borrower and each Guarantor of the Term Facility Documentation to which it is a party, which shall be in accordance
with the terms of the Commitment Letter, the Term Sheets and the Term Facility Documentation Principles and (ii) delivery to the
Commitment Parties of (a) customary legal opinions, (b) customary evidence of authority, (c) customary officer’s certificates,
(d) good standing certificates (to the extent applicable) in the respective jurisdictions of organization of the Borrower and the
Guarantors, (e) customary borrowing requests and (f) a solvency certificate, substantially in the form set forth in Annex I
attached to this Exhibit C, from the chief financial officer or chief accounting officer or other officer with equivalent
duties of the Parent, in each case, as applicable, in accordance with the Term Facility Documentation Principles (the deliverables
set forth in clauses (a) through (f), collectively the “Closing Deliverables”).

 

6.All documents and
instruments, in each case, as applicable, in accordance with the Term Facility Documentation Principles and subject to the Certain
Funds Provision, required to perfect the Term Facility Administrative Agent’s security interests in the Collateral shall
have been executed and delivered and, if applicable, be in proper form for filing.

 

7.The Term Facility
Administrative Agent shall have received, at least five (5) Business Days prior to the Closing Date, all documentation and other
information about the Borrower and the Guarantors required under applicable “know your customer” and anti-money laundering
rules and regulations, including the PATRIOT Act, that has been requested in writing at least ten (10) Business Days prior to the
Closing Date.

 

8.You shall have paid
(or caused to be paid) all fees and expenses due to the Commitment Parties under the Commitment Letter and Fee Letter and required
to be paid on the Closing Date, to the extent invoiced at least three business days prior to the Closing Date (except as otherwise
reasonably agreed by the Borrower).

 

9.The Specified Acquisition
Agreement Representations shall be true and correct to the extent required by the Certain Funds Provision and the Specified Representations
shall be

 

    C-2

     

    

EXHIBIT C

 

true and correct in all material respects (except in the case of any Specified Representation which expressly relates
to a given date or period, such representation and warranty shall be true and correct in all material respects as of the respective
date or for the respective period, as the case may be); provided, that to the extent that any of the Specified Representations
are qualified by or subject to a “material adverse effect”, “material adverse change” or similar term or
qualification, the definition thereof shall be the definition of “Material Adverse Effect” (as defined in the Acquisition
Agreement) for purposes of any such representations and warranties made or deemed made on, or as of, the Closing Date (or any date
prior thereto).

 

10.Satisfactory evidence
that (i) the ratio of consolidated total debt to pro forma LTM Adjusted EBITDA (as mutually agreed upon) of Borrower and its subsidiaries
measured as of the Acquisition Agreement execution date does not exceed 2.5 to 1.0 after giving effect to all Transactions contemplated
hereunder and (ii) the Company’s LTM Adjusted EBITDA (as mutually agreed upon) for the last twelve months prior to the Closing
Date is not less than $40.0 million.

 

    C-3

     

    

ANNEX I to

EXHIBIT C

 

FORM OF SOLVENCY CERTIFICATE

 

SOLVENCY CERTIFICATE

of

[PARENT]

AND ITS SUBSIDIARIES

 

Pursuant to the Credit Agreement3,
the undersigned hereby certifies, solely in such undersigned’s capacity as [chief financial officer] [chief accounting officer]
[specify other officer with equivalent duties] of the Parent, and not individually, as follows:

 

I am generally familiar with the businesses and assets
of the Parent and its Subsidiaries4,
taken as a whole, and am duly authorized to executed this Solvency Certificate on behalf of the Parent pursuant to the Credit Agreement.
As of the date hereof, after giving effect to the consummation of the Transactions, including the making of the Term Loans under
the Credit Agreement, on the date hereof, and after giving effect to the application of the proceeds of such Indebtedness:

 

		a.	The fair value of the assets of the Parent and its Subsidiaries, on a consolidated basis, exceeds, on a consolidated basis,
their debts and liabilities, subordinated, contingent or otherwise;

 

		b.	The present fair saleable value of the property of the Parent and its Subsidiaries, on a consolidated basis, is greater than
the amount that will be required to pay the probable liability, on a consolidated basis, of their debts and other liabilities,
subordinated, contingent or otherwise, as such debts and other liabilities become absolute and matured;

 

		c.	The Parent and its Subsidiaries, on a consolidated basis, are able to pay their debts and liabilities, subordinated, contingent
or otherwise, as such liabilities become absolute and matured; and

 

		d.	The Parent and its Subsidiaries, on a consolidated basis, are not engaged in, and are not about to engage in, business for
which they have unreasonably small capital.

 

For purposes of this Certificate, the amount
of any contingent liability at any time shall be computed as the amount that would reasonably be expected to become an actual and
matured liability. Capitalized terms used but not otherwise defined herein shall have the meanings assigned to them in the Credit
Agreement.

 

[Signature Page Follows]

 

 

3
Credit Agreement to be defined.

4 “Subsidiaries” to be defined.

     

     

    

 

IN WITNESS WHEREOF, the undersigned has executed
this Certificate in such undersigned’s capacity as [chief financial officer] [chief accounting officer] [specify other
officer with equivalent duties] of the Parent, on behalf of the Parent, and not individually, as of the date first stated above.

 

	 	[PARENT]
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:

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