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PERFORMANCE SHARE AWARD AGREEMENT
This Performance Share Award Agreement (this “Agreement”), dated as of the [ ] day of  [ ], 20[ ] (the “Grant Date”), is between AngioDynamics, Inc., a Delaware corporation (“AngioDynamics” or the “Company”), and the “Participant,” an employee of the Company or any of its Affiliates or Subsidiaries and whose name appears on the signature page hereto. All capitalized terms not otherwise defined herein shall have the meaning ascribed thereto in Appendix A to this Agreement or the AngioDynamics 2020 Stock and Incentive Award Plan, as amended (the “Plan”), as applicable.
Overview of Your Award
Target Amount of Performance Shares: [ ] shares.
Performance Period: [ ], 20[ ] to [ ], 20[ ].
Peer Group: Set forth on Appendix A.
1.Grant and Acceptance of Performance Shares. Effective as of the Grant Date, the Company hereby grants to the Participant a Performance Share Award (the “Performance Shares”), subject to the terms and conditions set forth in this Agreement and the Plan, with respect to [insert applicable number of shares] shares (the “Target Amount”) of the Company’s common stock, par value $0.01 per share (the “Common Stock”). This grant of Performance Shares shall not confer any right to the Participant (or any other participant) to be granted any Performance Shares in the future.
2.Eligibility Conditions upon Performance Shares. The Participant hereby acknowledges that the vesting of any of the Performance Shares (and delivery of shares of Common Stock with respect to any such vested Performance Shares) is subject to certain eligibility, performance and other conditions set forth herein and in the Plan. Except as otherwise provided in Section 7 of this Agreement, all shares of Common Stock in respect of Performance Shares that vest pursuant to the terms of this Agreement and the Plan shall be issued to the Participant as soon as practicable (and in all events within sixty (60) days) after the end of the Performance Period, and no shares of Common Stock in settlement of vested Performance Shares shall be issued to the Participant prior to the end of the Performance Period.
3.Satisfaction of Performance-Based Conditions. Subject to Sections 5, 6, 7(a) and 7(b) of this Agreement, the Performance Shares will be eligible to vest if and only if the performance conditions established in this Section 3 with respect to such Performance Shares are satisfied. Vesting of Performance Shares is based upon the performance of the Company with respect to the performance targets (as set forth below) for the Performance Period.
(a) Performance Shares. Subject to Sections 3(b), 5, 6, 7(a) and 7(b) of this Agreement, the Target Amount of Performance Shares will be eligible to vest based on achievement of [insert applicable performance conditions (which may be, without limitation, objective, subjective, based on Company-wide or individual metrics, or any combination thereof)].
(b) [if grant includes a total shareholder return modifier, include the following:][TSR Modifier; Total Performance Shares Eligible to Vest. Notwithstanding the performance criteria set forth in Section 3(a) above, the vesting of the Performance Shares is further subject to achievement of [insert total shareholder return modifier conditions].

(c) Forfeiture Upon Failure to Satisfy Performance Conditions; Clawback. For the avoidance of doubt, any Performance Shares for which the applicable performance conditions are not satisfied in accordance with this Section 3 shall be automatically forfeited by the Participant without consideration at the end of the Performance Period (or, if earlier, the date of termination in the circumstances described in Section 6). Without limitation of Section 13(l) of the Plan, the Performance Shares and any Common Stock that may be issued with respect to the Performance Shares shall be subject to any recovery, recoupment, clawback, and/or other forfeiture policy maintained by the Company or its Subsidiaries or Affiliates from time to time.
(d) Board Determinations Binding; Adjustments to Performance Goals. Without limitation of Section 12(b) of the Plan, all determinations and interpretations of the terms of this Agreement and the Plan (including, without limitation, all calculations regarding the determination of the level of achievement of any of the performance targets set forth herein) shall be made by the Board (or the Committee, as applicable) in its sole discretion, and shall be final, binding, and conclusive on the Company, its Subsidiaries and Affiliates, and the Participant (and each of their successors and assigns). Notwithstanding anything to the contrary set forth in this Agreement, the Board (or the Committee, as applicable) may modify the performance goals described in this Section 3 (including, without limitation, any of the definitions or formulas set forth on Appendix A) in any manner that the Board (or the Committee, as applicable) deems appropriate in its sole discretion to preserve the intended benefits of this Agreement, in each case to account for the impact of events that the Board (or the Committee, as applicable) deems appropriate, including, but not limited to, mergers, acquisitions, divestitures, licensing arrangements, accounting changes, currency fluctuations, financing activities, expenses for restructuring, and other extraordinary items, whether with respect to the Company, any member of the Peer Group, or otherwise.  
4. Participant’s Rights in Common Stock. The shares of Common Stock, if and when issued hereunder upon the vesting of any Performance Shares, shall be registered in the name of the Participant and evidenced in the manner as the Company may determine. During the period prior to the issuance of Common Stock, the Participant will have no rights of a stockholder of the Company with respect to the Common Stock underlying the Performance Shares, including no right to receive dividends or vote the shares of Common Stock underlying the Performance Shares.
5. Death; Retirement; Disability. In the event that the Participant’s employment with the Company or any of its Subsidiaries or Affiliates is terminated due to death, Retirement, or Disability, in each case on or after the Grant Date, but prior to the end of the Performance Period, the Performance Shares shall remain eligible to vest following the end date of the Performance Period; however, except as set forth in Section 7 of this Agreement, the Participant shall only be eligible to vest in a prorated portion of the Total Eligible Performance Shares calculated in accordance with Section 3 of this Agreement based on the Participant’s months of service (rounded to the nearest whole month) with the Company (or any of its Subsidiaries or Affiliates) during the Performance Period prior to the date of such termination. The Participant may, from time to time, name any beneficiary or beneficiaries (who may be named contingently or successively) to whom any benefit under this Agreement is to be paid in case of his or her death before he or she receives any or all such benefit. Each such designation shall revoke all prior designations by the Participant, shall be in a form prescribed by the Company, and will be effective only when filed by the Participant in writing with the Secretary of the Company during the Participant’s lifetime. In the absence of any such designation, benefits remaining unpaid at the Participant’s death shall be paid to the Participant’s estate.
6. Other Terminations of Employment -- Eligibility Conditions. Except as set forth in Sections 5 or 7, vesting in any of the Total Eligible Performance Shares is expressly conditioned upon the Participant’s 

continuous employment with the Company or any of its Subsidiaries or Affiliates through the last day of the Performance Period. If the Participant’s employment with the Company and its Subsidiaries or Affiliates is terminated or the Participant separates from the Company and its Subsidiaries or Affiliates for any reason other than death, Retirement, or Disability, in each case prior to the end of the Performance Period (and unless Section 7 applies), the Performance Shares shall immediately terminate for no consideration and no shares of Common Stock shall be issued in respect thereof, regardless of whether any of the performance conditions in Section 3 of this Agreement would have otherwise been satisfied.
7. Change in Control. Notwithstanding anything to the contrary in this Agreement:
(a) in the event of a Change in Control on or after the Grant Date (other than for the reasons expressly covered by Section 5 of this Agreement), treatment of Performance Shares shall be subject to the terms of Section 9 of the Plan; and 
(b) in the event the Participant’s employment with the Company or any Subsidiary or Affiliate terminates due to one of the reasons expressly covered by Section 5 of this Agreement and a Change in Control of the Company occurs subsequent to such a termination of employment (but during the Performance Period), the prorated vesting provided for in Section 5 shall be based on 100% of the Target Amount instead of on the Total Eligible Performance Shares calculated in accordance with Section 3 of this Agreement.
8. Consideration for Stock. The shares of Common Stock underlying the Performance Shares that are issued pursuant to this Agreement will be issued for no cash consideration.
9. Issuance of Stock. The Company shall not be obligated to issue any shares of Common Stock underlying the Performance Shares that become vested pursuant to the terms of this Agreement until (i) all federal and state laws and regulations as the Company may deem applicable have been complied with; (ii) the shares have been listed or authorized for listing upon official notice to the Nasdaq Global Select Market (or such other U.S. national securities exchange) or have otherwise been accorded trading privileges; and (iii) all other legal matters in connection with the issuance and delivery of the shares have been approved by the Company’s legal department.
10. Tax Withholding. The Participant acknowledges that he or she shall be responsible for the payment of any taxes of any kind required by any national, state or local law to be paid with respect to the award of Performance Shares or the shares of Common Stock to be delivered hereunder, including, without limitation, the payment of any applicable withholding, income, social and similar taxes or obligations. The Participant further acknowledges that neither the Company nor any of its Subsidiaries or Affiliates (1) makes any representations or undertakings regarding the treatment of any tax-related matters in connection with any aspect of this Agreement, including the grant of the Performance Shares, the vesting of any of the Performance Shares, or the issuance of shares of Common Stock hereunder, the subsequent sale of any shares of Common Stock acquired hereunder and the receipt of any dividends (if applicable); or (2) commits or is under any obligation to structure the terms of the grant or any aspect of the Performance Shares to reduce or eliminate the Participant’s liability for tax-related matters or achieve any particular tax result. Further, if the Participant becomes subject to tax and/or social security contributions in more than one jurisdiction between the Grant Date and the date of any relevant taxable, tax and/or social security contribution withholding event, as applicable, the Participant acknowledges that the Company (or any of its Subsidiaries or Affiliates) may be required to withhold or account for tax-related matters in more than one jurisdiction. Prior to any relevant taxable, tax and/or social security contribution withholding event, the Participant shall pay or make adequate arrangements satisfactory to the Company to satisfy all tax-related matters. In this regard, the Participant authorizes the Company (or its applicable Subsidiary or Affiliate), at its sole discretion, to satisfy the obligations with respect to tax-

related matters by one or a combination of the following: (i) withholding from the Participant’s wages or other cash compensation paid to him or her by the Company or any of its Subsidiaries or Affiliates; (ii) withholding from the proceeds of the sale of shares of Common Stock acquired hereunder, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization); or (iii) withholding in shares of Common Stock to be issued hereunder. The Company (or its applicable Subsidiary or Affiliate) will withhold or account for tax-related matters by considering applicable maximum statutory withholding amounts or other applicable withholding rates. If the obligation for tax-related matters is satisfied by withholding in shares of Common Stock, for tax purposes, the Participant will be deemed to have been issued the full number of shares of Common Stock subject to the vested portion of the Performance Shares, notwithstanding that a number of the shares of Common Stock that would otherwise be delivered to the Participant is held back solely for the purpose of paying any taxes of any kind due as a result of any aspect of the Participant’s holding of these Performance Shares. Finally, the Participant shall pay to the Company (or at the Company’s direction, its applicable Subsidiary or Affiliate) the amount of taxes of any kind that the Company (or such applicable Subsidiary or Affiliate) may be required to withhold or account for as a result of Participant’s holding of these Performance Shares that cannot be satisfied by the means described in this Section 10. The Company may refuse to issue or deliver shares of Common Stock or the proceeds of the sale of shares of Common Stock to the Participant if the Participant fails to comply with Participant’s obligation in connection with any tax-related matters.
11. Compliance with Section 409A. This Agreement is intended to comply with, or be exempt from, the requirements of Section 409A of the Code and the regulations promulgated thereunder (together, “Section 409A”). Accordingly, all provisions herein shall be construed and interpreted to comply with, or to be exempt from, Section 409A. This Agreement may be amended at any time by the Company, without the consent of the Participant, to avoid the application of Section 409A in a particular circumstance or that is necessary or desirable to satisfy any of the requirements under Section 409A, but the Company shall not be under any obligation to make any such amendment. Nothing in this Agreement shall provide a basis for any person to take action against the Company or any of its Subsidiaries or Affiliates based on matters covered by Section 409A, including the tax treatment of any amount paid or Performance Shares granted under this Agreement, and neither the Company nor any of its Subsidiaries or Affiliates shall under any circumstances have any liability to Participant or his or her estate or any other party for any taxes, penalties or interest due on amounts paid or payable under this Agreement, including taxes, penalties or interest imposed under Section 409A. Notwithstanding any provision to the contrary in this Agreement, if shares of Common Stock or other amounts become issuable or distributable under this Agreement by reason of the Participant’s “separation from service,” within the meaning of Section 409A, and the Participant is a “specified employee,” within the meaning of Section 409A, at the time of such “separation from service,” the shares of Common Stock shall not be issued or distributed to the Participant prior to the earlier of (i) the first day of the seventh (7th) month following the date of the Participant’s Separation from Service or (ii) the date of the Participant’s death, if such delayed commencement is otherwise required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i). Upon the expiration of the applicable Section 409A(a)(2)(B)(i) deferral period, any shares of Common Stock underlying the Performance Shares issued pursuant to this Agreement, the delivery of which is deferred pursuant to this Section 11, shall be issued or distributed (without interest) to the Participant.
12. Recapitalization. Without limitation of Section 10 of the Plan, in the event there is any change in the Company’s Common Stock through the declaration of stock dividends or through recapitalization resulting in stock split-ups or through merger, consolidation, exchange of shares of Common Stock, or otherwise, the number and class of shares of Common Stock subject to the Performance Shares shall be 

equitably adjusted by the Company, in a manner determined in its sole discretion, to prevent dilution or enlargement of the benefits intended to be conferred by the Performance Shares under this Agreement.
13. Investment Intent; Unfunded Obligation. The Participant acknowledges that the acquisition of shares of Common Stock to be issued hereunder is for investment purposes without a view to distribution thereof. The Participant further acknowledges that the Performance Shares granted hereunder represent an unfunded, unsecured right to receive shares of Common Stock in respect of the Performance Shares that become vested in accordance with the terms of this Agreement, if any.
14. Limits on Transferability; Restrictions on Shares; Legend on Certificate. Until any shares of Common Stock have been issued in accordance with the terms of this Agreement or by action of the Board, the Performance Shares are not transferable and shall not be sold, transferred, assigned, pledged, gifted, hypothecated or otherwise disposed of or encumbered by the Participant. Transfers by the Participant of any shares of Common Stock delivered under this Agreement are subject to the Company’s Insider Trading Policy and applicable securities laws. Shares of Common Stock issued to the Participant in certificate form or to the Participant’s book entry account upon satisfaction of the vesting and other conditions of the Performance Shares may be restricted from transfer or sale by the Company and evidenced by stop-transfer instructions upon the Participant’s book entry account or restricted legend(s) affixed to certificates in the form as the Company or its counsel may require with respect to any applicable restrictions on sale or transfer.
15. Award Subject to the Plan. The Performance Shares granted pursuant to this Agreement are subject to the Plan. The terms and provisions of the Plan, as each may be amended from time to time, are hereby incorporated herein by reference. In the event of a conflict between any term or provision contained in this Agreement and a term or provision of the Plan, the applicable terms and conditions of the Plan will govern and prevail. However, no amendment of the Plan after the date hereof may adversely alter or impair the issuance of the Common Stock underlying the Performance Shares to be made pursuant to this Agreement without the Participant’s consent.
16. No Rights to Continued Employment. This Agreement shall not confer upon the Participant any right to continuation of employment with the Company, its Subsidiaries or Affiliates, nor shall this Agreement interfere in any way with the Company’s (or its Subsidiaries’ or Affiliates’) right to terminate the Participant’s employment at any time with or without cause.
17. Legal Notices. Any legal notice necessary under this Agreement shall be addressed to the Company in care of its General Counsel at the principal executive offices of the Company and to the Participant at the address appearing in the personnel records of the Company for such Participant or to either party at such other address as either party may designate in writing to the other. Any such notice shall be deemed effective upon receipt thereof by the addressee.
18. Governing Law. The interpretation, performance and enforcement of this Agreement shall be governed by the laws of the State of New York (without regard to the conflict of laws principles thereof) and applicable federal laws. For purposes of litigating any dispute that arises directly or indirectly from the relationship of the parties evidenced by this Agreement, the parties hereby submit and consent to the exclusive jurisdiction of the State of New York and agree that such litigation shall be conducted only in the State of New York, or the federal courts for the United States for the Northern District of New York, and no other courts, where this Agreement is made and/or to be performed.
19. Amendment. Upon the approval of the Board in its sole discretion, the Board or the Committee may terminate, amend or modify this Agreement, provided, however, that, subject to Sections 3(d), 11 and 

12 of this Agreement, no such amendment or modification of this Agreement may in any way adversely affect the Participant’s rights under this Agreement without the Participant’s written consent.
20. Headings. The headings contained in this Agreement are for convenience only and shall not affect the meaning or interpretation of this Agreement.
21. Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original and all of which together shall be deemed to be one and the same instrument.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 
This Agreement is being signed as of the Grant Date.
						
	AngioDynamics, Inc.
	Participant

	By:
	By:

	Name:
	Name:

	Title:
	

APPENDIX A – CERTAIN DEFINITIONS AND CALCULATIONS
For purposes of this Agreement, the following terms have the meanings set forth below:
(a)  Disability” means disability as determined by the Board in its sole discretion.
(b)  Retirement” means retirement as determined by the Board in its sole discretion.

Schedule A

[insert applicable Peer Group]Document

Exhibit 10.1
EIGHTH AMENDMENT TO CREDIT AGREEMENT

THIS EIGHTH AMENDMENT TO CREDIT AGREEMENT (this “Amendment”), dated as of September 30, 2021, is by and among CARROLS RESTAURANT GROUP, INC., a Delaware corporation formerly known as Carrols Holdco Inc. (the “Borrower”), certain domestic Subsidiaries of the Borrower party hereto (collectively, the “Guarantors”), the Lenders (as hereinafter defined) party hereto and WELLS FARGO BANK, NATIONAL ASSOCIATION, as administrative agent on behalf of the Lenders under the Credit Agreement (as hereinafter defined) (in such capacity, the “Administrative Agent”).  Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed thereto in the Credit Agreement referred to below.
W I T N E S S E T H
WHEREAS, the Borrower, the Guarantors, the several banks and other financial institutions party thereto from time to time (the “Lenders”) and the Administrative Agent are parties to that certain Credit Agreement dated as of April 30, 2019, as amended by the First Amendment dated as of December 13, 2019, as further amended by the Second Amendment to Credit Agreement dated as of March 25, 2020, as further amended by the Third Amendment to Credit Agreement dated as of April 8, 2020, as further amended by the Fourth Amendment to Credit Agreement dated as of April 16, 2020, as further amended by the Fifth Amendment to Credit Agreement dated as of June 23, 2020, as further amended by the Sixth Amendment to Credit Agreement dated as of April 6, 2021 and as further amended by the Seventh Amendment to Credit Agreement dated as of June 28, 2021 (as further amended, amended and restated, waived, supplemented or otherwise modified from time to time, the “Credit Agreement”); 
WHEREAS, pursuant to Section 2.22 of the Credit Agreement, the Borrower may incur a Revolving Facility Increase in the form of an increase to the Revolving Committed Amount; and
WHEREAS, the Borrower desires to incur a Revolving Facility Increase of $40,000,000 (the “Amendment No. 8 Revolving Facility Increase”), which shall increase the Revolving Committed Amount to $215,000,000;
NOW, THEREFORE, in consideration of the agreements hereinafter set forth, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows: 
ARTICLE I
REVOLVING FACILITY INCREASE; AMENDMENTS TO CREDIT AGREEMENT
1.1.Increase of Revolving Committed Amount.  Effective as of the Eighth Amendment Effective Date (as defined below), the Revolving Committed Amount is hereby increased by $40,000,000 to $215,000,000 and accordingly the reference to “ONE HUNDRED 

SEVENTY-FIVE MILLION DOLLARS ($175,000,000)” contained in Section 2.1(a) of the Credit Agreement shall read “TWO HUNDRED FIFTEEN MILLION DOLLARS ($215,000,000)”. 
1.2.Amendment to Schedule 1.1(f) to the Credit Agreement. After giving effect to this Amendment, the Revolving Commitment of each Revolving Lender set forth on Schedule 1.1(f) to the Credit Agreement shall read as follows:
									
	Revolving Lender	Revolving 
Commitment	Revolving 
Commitment 
Percentage
	Wells Fargo Bank, National Association	$40,000,000.00	18.60%
	Truist Bank	$40,000,000.00	18.60%
	JPMorgan Chase Bank, N.A.	$32,500,000.00	15.12%
	Capital One, National Association	$27,500,000.00	12.79%
	Coöperatieve Rabobank U.A., New York Branch	$25,000,000.00	11.63%
	Fifth Third Bank, National Association	$25,000,000.00	11.63%
	Manufacturers and Traders Trust Company	$25,000,000.00	11.63%
	Total	$215,000,000.00	100.00%

1.3.Agreements of the Eighth Amendment Revolving Facility Increase Lenders.  Wells Fargo Bank, National Association, Truist Bank, JPMorgan Chase Bank, N.A., Capital One, National Association, Fifth Third Bank, National Association and Manufacturers and Traders Trust Company (collectively, the “Amendment No. 8 Revolving Facility Increase Lenders”), hereby agree, severally and not jointly, subject to the occurrence of the Eighth Amendment Effective Date, to provide their applicable share of the Amendment No. 8 Revolving Facility Increase set forth in Section 1.1 and Section 1.2 of this Amendment. Each of the Amendment No. 8 Revolving Facility Increase Lenders (i) confirms that it has received a copy of the Credit Agreement and the other Loan Documents, together with copies of the financial statements referred to therein and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Amendment; (ii) agrees that it will, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit Agreement; (iii) appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers under the Credit Agreement and the other Loan Documents as are delegated to the Administrative Agent by the terms thereof, together with such powers as are reasonably incidental thereto; and (iv) acknowledges and agrees that it will perform in accordance with their terms all of the obligations which by the terms of the Credit Agreement are required to be performed by it as a Revolving Facility Increase Lender, and shall have all the rights of a Revolving Facility Increase Lender thereunder. 
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1.4.Letter of Credit Participations. With effect from and including the Eighth Amendment Effective Date and the Amendment No. 8 Revolving Facility Increase contemplated hereby, each Revolving Lender (other than any Amendment No. 8 Revolving Facility Increase Lender), immediately prior to such increase will automatically and without further act be deemed to have assigned to each Amendment No. 8 Revolving Facility Increase Lender, and each Amendment No. 8 Revolving Facility Increase Lender will automatically and without further act be deemed to have assumed, a portion of such Revolving Lender’s participations under the Credit Agreement in outstanding Letters of Credit such that, after giving effect to each such deemed assignment and assumption of participations, the percentage of the aggregate outstanding participations under the Credit Agreement in Letters of Credit will equal the percentage of the total Revolving Commitments (after giving effect to the Amendment No. 8 Revolving Facility Increase) represented by such Revolving Lender’s Revolving  Commitment (after giving effect to the Amendment No. 8 Revolving Facility Increase, if applicable).
ARTICLE II
CONDITIONS TO EFFECTIVENESS
2.1.Closing Conditions.  This Amendment shall become effective on the date that each of the following conditions are satisfied (such date, the “Eighth Amendment Effective Date”):
(a)Executed Amendment.  The Administrative Agent shall have received a copy of this Amendment duly executed by each of the Credit Parties, Wells Fargo Bank, National Association and each of the Amendment No. 8 Revolving Facility Increase Lenders.
(b)Fees and Expenses.  The Administrative Agent shall have received from or on behalf of the Borrower all fees and expenses that are payable to the Administrative Agent and the Lenders in connection with the consummation of the transactions contemplated hereby and Cahill Gordon & Reindel LLP shall have received from the Borrower payment of all outstanding fees and expenses previously incurred and all fees and expenses incurred in connection with this Amendment, in each case, to the extent the Borrower receives an invoice therefor at least one Business Day prior to the date hereof.
(c)Fees. (i) Wells Fargo Securities, LLC (“Wells Fargo Securities”), in its capacity as a Lead Arranger under the Credit Agreement, shall have received, for its own account, from or on behalf of the Borrower all fees that are payable to Wells Fargo Securities in connection with the consummation of the transactions contemplated hereby on the Eighth Amendment Effective Date and (ii) the Administrative Agent shall have received from or on behalf of the Borrower as fee compensation for the provision of the Amendment No. 8 Revolving Facility Increase, for the ratable benefit of the Amendment No. 8 Revolving Facility Increase Lenders, an upfront fee equal to 0.20% of the commitment in respect of the Amendment No. 8 Revolving Facility Increase of each Amendment No. 8 Revolving Facility Increase Lender on the Eighth Amendment Effective Date.
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(d)Miscellaneous.  All other documents and legal matters in connection with the transactions contemplated by this Amendment shall be reasonably satisfactory in form and substance to the Administrative Agent and its counsel. 
(e)Credit Agreement Conditions.  All of the conditions specified in Sections 2.22(b)(ii) and 4.2(b) of the Credit Agreement with respect to the incurrence of a Revolving Facility Increase thereunder shall have been satisfied.
(f)Officer’s Certificate.  The Administrative Agent shall have received a certificate signed by a Responsible Officer of the Borrower certifying as to the satisfaction of the conditions set forth in clause (e) of this Section 2.1. 
(g)Revolving Loan Notes.  The Administrative Agent shall have received for each Amendment No. 8 Revolving Facility Increase Lender that shall have requested a Revolving Loan Note, a duly completed and executed Revolving Loan Note for such Amendment No. 8 Revolving Facility Increase Lender. 
Without limiting the generality of the provisions of Section 8.4 of the Credit Agreement, for purposes of determining compliance with the conditions specified in this Section 2.1, the Administrative Agent, upon its execution hereof, and each Lender that has signed this Amendment shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to the Administrative Agent or a Lender (unless the Administrative Agent shall have received notice from such Lender prior to the Eighth Amendment Effective Date) specifying its objection thereto.
ARTICLE III
MISCELLANEOUS
3.1.Amended Terms.  On and after the Eighth Amendment Effective Date, all references to the Credit Agreement in each of the Credit Documents shall hereafter mean the Credit Agreement as amended by this Amendment.  Except as specifically amended hereby or otherwise agreed, the Credit Agreement is hereby ratified and confirmed and shall remain in full force and effect according to its terms.
3.2.Representations and Warranties of Credit Parties.  Each of the Credit Parties represents and warrants as follows:
(a)It has taken all necessary limited liability company, partnership or corporate action to authorize the execution, delivery and performance of this Amendment;
(b)This Amendment has been duly executed and delivered by such Person and constitutes such Person’s legal, valid and binding obligation, enforceable in accordance with its terms, except as such enforceability may be subject to (i) bankruptcy, insolvency, reorganization, fraudulent conveyance or transfer, moratorium or similar laws 
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affecting creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding at law or in equity);
(c)No consent, approval, authorization or order of, or filing, registration or qualification with, any court or Governmental Authority or third party is required in connection with the execution, delivery or performance by such Person of this Amendment (other than those that have been obtained);
(d)The representations and warranties set forth in Article III of the Credit Agreement, in the other Credit Documents and which are contained in any certificate furnished at any time under or in connection therewith are (i) with respect to representations and warranties that contain a materiality qualification,  true and correct and (ii) with respect to representations and warranties that do not contain a materiality qualification, true and correct in all material respects, in each case on the date hereof as if made on and as of such date except for any representation or warranty made as of an earlier date, which representation and warranty remain true and correct as of such earlier date;
(e)After giving effect to this Amendment, no event has occurred and is continuing which constitutes a Default or an Event of Default;
(f)The Security Documents continue to create a valid security interest in, and Lien upon, the Collateral, in favor of the Administrative Agent, for the benefit of the Lenders, which security interests and Liens are perfected in accordance with (and to the extent required by) the terms of the Credit Agreement and the Security Documents and prior to all Liens other than Permitted Liens; and
(g)Except as expressly set forth herein, the Credit Party Obligations are not reduced or modified by this Amendment and are not subject to any offsets, defenses or counterclaims.
3.3.Reaffirmation of Credit Party Obligations; No Novation.  Each Credit Party hereby ratifies the Credit Agreement and acknowledges and reaffirms (a) that it is bound by all terms of the Credit Documents applicable to it and (b) that it is responsible for the observance and full performance of its respective Credit Party Obligations. Each Credit Party hereby (a) confirms that all obligations of such Credit Party under the Credit Documents shall remain obligations of such Credit Party following the execution of this Amendment and (b) agrees that all security interests granted by it pursuant to any Credit Document shall continue to secure the payment of all obligations of each of the Credit Parties under the Credit Agreement and other Credit Documents, in each case, as modified by this Amendment. Each of the parties hereto confirms that the amendment of the Credit Agreement pursuant to this Amendment shall not constitute a novation of the Credit Agreement or any other Credit Document.
3.4.Credit Document.  This Amendment shall constitute a Credit Document under the terms of the Credit Agreement.
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3.5.Recordation of the Amendment No. 8 Revolving Facility Increase. Upon execution and delivery hereof, the Administrative Agent will record in the Register the Amendment No. 8 Revolving Facility Increase made by the Amendment No. 8 Revolving Facility Increase Lenders. 
3.6.Expenses.  The Borrower agrees to pay all reasonable and documented out-of-pocket costs and expenses of the Administrative Agent in connection with the preparation, execution and delivery of this Amendment, including, without limitation, the reasonable and documented fees and expenses of the Administrative Agent’s external legal counsel.
3.7.Further Assurances.  The Credit Parties agree to promptly take such action, upon the request of the Administrative Agent, as is reasonably necessary to carry out the intent of this Amendment.
3.8.Entirety.  This Amendment and the other Credit Documents embody the entire agreement among the parties hereto and supersede all prior agreements and understandings, oral or written, if any, relating to the subject matter hereof.
3.9.Counterparts; Telecopy.  This Amendment may be executed in any number of counterparts, each of which when so executed and delivered shall be an original, but all of which shall constitute one and the same instrument.  The execution and delivery of this Amendment shall be deemed to include electronic signatures on electronic platforms approved by the Administrative Agent, which shall be of the same legal effect, validity or enforceability as delivery of a manually executed signature, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act; provided that, upon the request of any party hereto, such electronic signature shall be promptly followed by the original thereof.  
3.10.No Actions, Claims, Etc.  As of the date hereof, each of the Credit Parties hereby acknowledges and confirms that it has no knowledge of any actions, causes of action, claims, demands, damages and liabilities of whatever kind or nature, in law or in equity, against the Administrative Agent, the Lenders, or the Administrative Agent’s or the Lenders’ respective officers, employees, representatives, agents, counsel or directors arising from any action by such Persons, or failure of such Persons to act under the Credit Agreement on or prior to the date hereof. 
3.11.GOVERNING LAW.  THIS AMENDMENT SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK (INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW), WITHOUT REFERENCE TO ANY CONFLICTS OR CHOICE OF LAW PRINCIPLES THEREOF.
3.12.Headings.  Article and Section headings used herein are for convenience of reference only, are not part of this Amendment and are not to affect the construction of, or be taken into consideration in interpreting, this Amendment. 
-6-

3.13.Successors and Assigns.  This Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.
3.14.Consent to Jurisdiction; Service of Process; Waiver of Jury Trial.  The jurisdiction, service of process and waiver of jury trial provisions set forth in Sections 9.13 and 9.16 of the Credit Agreement are hereby incorporated by reference, mutatis mutandis.
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

-7-

IN WITNESS WHEREOF the parties hereto have caused this Amendment to be duly executed on the date first above written.
BORROWER:
															
			CARROLS RESTAURANT GROUP, INC.,

			a Delaware corporation

					
			By:		
				Name:	
				Title:	

															
			GUARANTORS:
					
			CARROLS HOLDCO INC.,

			a Delaware corporation

					
			By:		
				Name:	
				Title:	

															
			CARROLS CORPORATION,

			a Delaware corporation

					
			By:		
				Name:	
				Title:	

															
			CARROLS LLC,

			a Delaware limited liability company

					
			By:		
				Name:	
				Title:	

[Carrols – Signature Page to Eighth Amendment to the Credit Agreement]

															
			REPUBLIC FOODS,  INC.,

			a Maryland corporation

					
			By:		
				Name:	
				Title:	

															
			NEW CFH, LLC,

			a Delaware limited liability company

					
			By:		
				Name:	
				Title:	

															
			CAMBRIDGE FRANCHISE REAL ESTATE, LLC,

			a Delaware limited liability company

					
			By:		
				Name:	
				Title:	

															
			CAROLINA QUALITY PROPERTIES, LLC,

			a North Carolina limited liability company

					
			By:		
				Name:	
				Title:	

															
			CAROLINA QUALITY, LLC,

			a North Carolina limited liability company

					
			By:		
				Name:	
				Title:	

[Carrols – Signature Page to Eighth Amendment to the Credit Agreement]

															
			ALABAMA QUALITY, L.L.C.,

			an Alabama limited liability company

					
			By:		
				Name:	
				Title:	

															
			LOUISIANA QUALITY, LLC,

			a Delaware limited liability company

					
			By:		
				Name:	
				Title:	

															
			TENNESSEE QUALITY, LLC,

			a Delaware limited liability company

					
			By:		
				Name:	
				Title:	

															
			LQ REAL ESTATE, LLC,

			a Delaware limited liability company

					
			By:		
				Name:	
				Title:	

															
			TQ REAL ESTATE, LLC,

			a Delaware limited liability company

					
			By:		
				Name:	
				Title:	

[Carrols – Signature Page to Eighth Amendment to the Credit Agreement]

															
			NASHVILLE QUALITY, LLC,

			a Delaware limited liability company

					
			By:		
				Name:	
				Title:	

															
			CAMBRIDGE QUALITY CHICKEN, LLC,

			a Delaware limited liability company

					
			By:		
				Name:	
				Title:	

															
			FRAYSER HOLDINGS, LLC,

			a Delaware limited liability company

					
			By:		
				Name:	
				Title:	

															
			FRAYSER QUALITY, LLC,

			a Delaware limited liability company

					
			By:		
				Name:	
				Title:	

															
			CAMBRIDGE SOUTHEASTERN REAL ESTATE, LLC, a Delaware limited liability company

					
			By:		
				Name:	
				Title:	

[Carrols – Signature Page to Eighth Amendment to the Credit Agreement]

															
			CFH REAL ESTATE, LLC,
			a Delaware limited liability company

					
			By:		
				Name:	
				Title:	

															
			CAMBRIDGE CHICKEN HOLDINGS, LLC,
			a Delaware limited liability company

					
			By:		
				Name:	
				Title:	

															
			CAMBRIDGE REAL ESTATE DEVELOPMENT, LLC,
			a Delaware limited liability company

					
			By:		
				Name:	
				Title:	

[Carrols – Signature Page to Eighth Amendment to the Credit Agreement]

															
			WELLS FARGO BANK, NATIONAL ASSOCIATION,
			as Administrative Agent

					
			By:		
				Name:	
				Title:	

[Carrols – Signature Page to Eighth Amendment to the Credit Agreement]

															
			TRUIST BANK,
			as an Amendment No. 8 Revolving Facility Increase Lender

					
			By:		
				Name:	
				Title:	

															
			JPMORGAN CHASE BANK, N.A.,
			as an Amendment No. 8 Revolving Facility Increase Lender

					
			By:		
				Name:	
				Title:	

															
			CAPITAL ONE, NATIONAL ASSOCIATION,
			as an Amendment No. 8 Revolving Facility Increase Lender

					
			By:		
				Name:	
				Title:	

															
			FIFTH THIRD BANK, NATIONAL ASSOCIATION,
			as an Amendment No. 8 Revolving Facility Increase Lender

					
			By:		
				Name:	
				Title:	

[Carrols – Signature Page to Eighth Amendment to the Credit Agreement]

															
			MANUFACTURERS AND TRADERS TRUST COMPANY,
			as an Amendment No. 8 Revolving Facility Increase Lender

					
			By:		
				Name:	
				Title:	

[Carrols – Signature Page to Eighth Amendment to the Credit Agreement]

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