Document:

Lease Agreement

 Exhibit 10.33 
 LEASE 
 THIS LEASE (“Lease”), dated the 1st day of January, 2007, is by and between LOWRIE MANAGEMENT LLLP, a Colorado limited liability limited partnership (“Landlord”) and KENTUCKY
RESTAURANT CONCEPTS, INC, a Kentucky corporation (“Tenant”). 
 1. DEFINITIONS. Unless otherwise indicated,
capitalized terms used in this Lease shall have the meanings set forth below: 
 (a) “Additional Rent” shall mean all charges
payable by Tenant under this Lease other than Minimum Rent. 
 (b) “Building” shall mean the building in which the Premises
are located. 
 (c) “Operating Costs” shall mean all costs incurred to insure, maintain, repair and replace (except with
respect to Paragraph 6(c)) all elements of the Premises. Operating Costs include, but are not limited to, costs and expenses for the following: maintenance and repair and replacement (as necessary) of all structural and mechanical components of the
Building including, but not limited to, exterior and interior walls, the roof, foundation and all components of the parking lots, driveways and sidewalks surrounding the Building and located on the Premises (but not including costs incurred by
Landlord in performing its obligations under Paragraphs 6(a) and 24); gardening and landscaping; utilities, water and storm sewer charges; maintenance of signs; fire alarm monitoring service; premiums for liability, property damage, fire and other
types of insurance on the Premises and worker’s compensation insurance; all Real Property Taxes (as defined below); all personal property taxes levied on or attributable to Tenant’s personal property used in connection with the maintenance
and operation of the Premises; fees for required licenses and permits; repairing, resurfacing by or at the direction of any governmental authority in connection with the use or occupancy of the Premises or the parking facilities included in the
Premises; or painting, lighting, cleaning, refuse removal, security, if any, and other related charges. Operating Costs shall also include any parking charges, utilities surcharges, or other costs levied, assessed or imposed on the Premises pursuant
to any covenants, conditions or restrictions to which the Premises are subject. 
 (d) “Effective Date” shall mean
January 1, 2007. 
 (e) “Guarantor” shall mean VCG Holding Corp. a Colorado corporation. 
 (f) “Hazardous Material” shall mean any hazardous, radioactive or toxic substance, material or waste, including, but not limited to,
those substances, materials and wastes (whether or not mixed, commingled or otherwise combined with other substances, materials or wastes) listed in the United States Department Transportation Hazardous Material Table (49 CFR 172.101) or by the
Environmental Protection Agency as hazardous substances (40 CFR Part 302) and amendments thereto, or such substances, materials and wastes which are or become regulated under any applicable local, state or federal law including, without limitation,
any material, waste or substance which is (i) a petroleum product, crude oil or any fraction thereof, (ii) asbestos, (iii) polychlorinated biphenyls, (iv) designated as a “hazardous substance” pursuant to
Section 311 of the Clean Water Act, 33 U.S.C. Section 1251, et seq. (33 U.S.C. Section 1321) 

 
or listed pursuant to Section 307 of the Clean Water Act (33 U.S.C Section 1317), (v) defined as a “hazardous waste” pursuant to
Section 1004 of the Resource Conservation and Recovery Act, 42 U.S.C. Section 6901, et seq. (42 U.S.C. Section 6903) or (vi) defined as a “hazardous substance” pursuant to Section 101 of the Comprehensive
Environmental Response, Compensation, and Liability Act, 42 U.S.C. Section 9601, et seq. (42 U.S.C. Section 9601). 
 (g)
“Premises” shall mean all the land consisting of approximately one-quarter ( 1/2) an acre and
improvements located at 227 E. Market St., Louisville, Kentucky, including any parking, driveways, sidewalks, alleyways or other appurtenances thereto. Said Premises shall include the roof, exterior walls and structural members thereof, together
with utility lines, ducting, pipes, and the like to serve adjoining Premises other than those specifically herein demised. 
 (h)
“Lease Term” shall mean a period of 10 years beginning on the Effective Date, plus any Extended Term granted by Landlord and timely and properly elected by Tenant pursuant to subparagraph 3(b) below. 
 (i) “Lease Year” shall mean a period of twelve consecutive months during the Lease Term which begins on the first day of the first
calendar month after the Effective Date or any anniversary thereof. 
 (j) “Minimum Rent” shall mean the base rental for the
Premises set forth in subparagraph 4 below. 
 (k) “Permitted Use” shall mean the operation of a restaurant and adult
cabaret, together with all uses associated with the operation of an adult entertainment business. 
 (l) “Property” shall
mean that certain real property owned by Landlord upon which the Premises are located. 
 (m) “Real Property Taxes” shall
mean (i) any fee, license fee, license tax, business license fee, levy, charge, real estate taxes, special or metro district assessment, penalty or tax imposed by any taxing authority against the Property and Premises, and (ii) any tax or
charge for fire protection, streets, sidewalks, road maintenance, refuse or other services provided to the Property by any governmental agency. In the event that it shall not be lawful for Tenant and Landlord to apportion such future taxes, if any,
then in that event, the minimum rent payable to Landlord under this Lease shall be revised to net Landlord the same rental after imposition of any such future tax upon Landlord as would have been payable to Landlord prior to the impositions of any
such tax. “Real Property Tax” does not, however, include Landlord’s federal or state income, franchise, inheritance or estate taxes. 
 (m) “Rent” shall mean Minimum Rent and any Additional Rent. 
 (n) “Site Plan” shall mean the site
plan for the Property attached hereto as Exhibit A. 
 2. LEASE OF PREMISES. Landlord hereby leases the Premises to Tenant, and Tenant
hereby leases the Premises from Landlord, subject to the terms, covenants and conditions herein set forth, and Tenant covenants as a material part of the consideration for this Lease to keep and perform each and all of such terms, covenants and
conditions by Tenant to be kept and performed. 
  

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 3. LEASE TERM/OPTION TO RENEW. 
 (a) The Lease Term shall begin at twelve o’clock noon on the Effective Date and shall end at twelve o’clock noon on December 31, 2017.

 (b) Upon the condition that Tenant is not in default beyond any applicable notice and cure periods at the time of the automatic exercise
of any option contained in this subparagraph, Landlord hereby grants to Tenant three (3) separate options (each an “Option”) to renew the Lease Term each for an additional five (5) year period (each an “Extended Term”)
upon the same terms and conditions as set forth in this Lease, except that the Rent payable during each Extended Term will be as described in Paragraph 4 below. Each Option shall be deemed automatically exercised by Tenant, unless Tenant provides
written notice (“Termination Notice”) to Landlord notifying Landlord of the termination of said Option at least six (6) months prior to the end of either the Lease Term or any Extended Term of this Lease. In the event that Tenant
fails to give the Termination Notice within the time period set forth in the prior sentence, the Option shall be exercised and the Lease shall be extended for the Extended Term. If any Option is not exercised, for any reason, or if the Tenant is in
default beyond any applicable notice and cure periods, at the time which is six (6) months prior to either the Lease Term or an Extended Term of the Lease, the Lease shall terminate at the expiration of the Lease Term and any Extended Term
thereof. 
 (c) Provided that Tenant is not in default under this Lease beyond all applicable cure periods, Tenant shall have the first right
of opportunity to enter into a purchase agreement with Landlord for the Premises. In the event that Landlord determines that it desires to sell the Premises to an unaffiliated third party, it shall provide Tenant with all of the material business
terms pursuant to which Landlord proposes to offer said proposed sale (“Term Notice”). Tenant shall have a period of thirty (30) days after receipt of the Term Notice to notify Landlord that it desires to purchase the Premises in
accordance with the Term Notice (“Tenant’s Acceptance Notice”). In the event that Tenant timely provides Tenant’s Acceptance Notice, the closing of the sale pursuant to such terms will take place no later than ninety
(90) days after Tenant provides said Tenant’s Acceptance Notice, provided, that Tenant’s obligation to close the transaction shall have no contingencies, other than Landlord’s performance of its closing obligations. If
Tenant fails to timely provide the Tenant’s Acceptance Notice or if, after providing Tenant’s Acceptance Notice, Tenant fails to close the transaction within said ninety (90) day period then Landlord shall have the right to market the
Premises subject to this Lease to an unaffiliated third party on the terms and conditions of the Term Notice, provided that the purchase price for the Premises contained in such purchase contract may not be less than ninety-five percent
(95%) of the purchase price contained in the Term Notice. If Landlord is unable to close a contract for the sale of the Premises to an unaffiliated third party subject to the price limitations described above within six (6) months from the
later of the last day for Tenant’s acceptance of the Term Notice, or the date of the closing of the transaction if Tenant delivers a Tenant’s Acceptance Notice and fails to close, as the case may be, Tenant’s first right of
opportunity as provided herein shall be reinstated. 
 4. MINIMUM RENT. During the Lease Term, Tenant agrees to pay the Landlord at
the address as shown herein, or at such other place as the Landlord may from time to time designate in writing, “Minimum Rent” for the Premises. Said rent shall be payable in advance on the first of each month, without deduction or
set-off, without notice or demand, as follows: 
  

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	 Lease Years
	  	Per Annum	  	Monthly
	 1-5
	  	$	90,000.00	  	$	7,500.00
	 6-10
	  	$	105,000.00	  	$	8,750.00
	 11-15 (Option Period 1)
	  	$	120,000.00	  	$	10,000.00
	 16-20 (Option Period 2)
	  	$	135,000.00	  	$	11,250.00
	 21-25 (Option Period 3)
	  	$	150,000.00	  	$	12,000.00

 5. SECURITY DEPOSIT. [This Paragraph has been deliberately omitted.]  
 6. OPERATING COSTS. 
 (a) Tenant shall
maintain the Premises in their condition on the Effective Date at Tenant’s sole cost and expense. Landlord may inspect the Premises and, if Landlord reasonably determines that Tenant is not maintaining the Premises in their condition on the
Effective Date, Landlord may provide Tenant with written notice of any such maintenance concern, and Tenant shall promptly make such repairs. If Tenant fails to complete such repairs within thirty (30) days of receipt of such notice, Landlord
may undertake such repairs and Tenant shall be obligated to reimburse Landlord for its costs within ten (10) days of receipt of an invoice therefore. Landlord represents and warrants to Tenant that the exterior walls, foundation and roof of the
Premises are in good working order on the Effective Date. Landlord will, at its cost, replace, restore, repair or maintain (as necessary) the roof until the first anniversary of the Commencement Date. Landlord will, at its cost, replace, restore,
repair or maintain (as necessary) the exterior walls and foundation of the Premises until the fifth anniversary of the Commencement Date. Tenant shall be fully responsible for the replacement, restoration, repair and maintenance of the roof,
exterior walls and foundation of the Premises thereafter. If Landlord fails to commence such repairs within thirty (30) days of receipt of any notice from Tenant, Tenant may undertake such repairs and Landlord shall be obligated to reimburse
Tenant for its costs within ten (10) days of receipt of an invoice therefore; provided, however, that Tenant shall have no rights to offset or set off any such amounts against the Rent to be paid hereunder. If Landlord does not reimburse
Tenant within ten (10) days from the date of notice, such charge shall bear interest at the rate of eighteen percent (18%) per annum until paid. 
 Notwithstanding anything to the contrary herein contained (except for the provisions of paragraph 32 below), if Tenant makes any changes, additions or alterations to the roof of the Premises which involves penetration
of the roof (other than those for telecommunications installations so long as the installation contractor has Landlord’s prior written approval which will not be unreasonably conditioned, delayed or denied), Landlord’s obligations to
replace, restore, repair or maintain the roof shall cease. If Tenant undertakes any structural repairs in the Premises which impact, affect, or alter the walls or foundation of the Premises, Landlord’s obligation to replace, restore, repair or
maintain that portion of the exterior walls and foundation of the Premises shall cease as of the date of such action by Tenant. Any Operating Costs that pertain to a period prior to or after the Lease Term will be pro rated between Landlord and
Tenant in the proportion of the amount of the Lease Term that falls within the period to which the Operating Costs pertain. 
 (b) Tenant
shall pay all Operating Costs during the Lease Term. 
  

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 7. TAXES. 
 (a) Tenant shall pay all Real Property Taxes on the land, buildings and other improvements constituting the Property and the Premises (including any fees, taxes or assessments against, or as a result of, any tenant
improvements installed in the Premises by or for the benefit of Tenant) attributable to the Lease Term. Tenant shall pay such taxes ten (10) days prior to their due date and shall promptly provide Landlord with evidence of such payment.

 (b) Tenant shall pay before delinquency all taxes charged against trade fixtures, furnishings, equipment or any other personal property
belonging to Tenant which become payable during the Lease Term. In the event any or all of Tenant’s leasehold improvements, equipment, furniture, fixtures and other personal property shall be assessed and taxed with the Property, Tenant shall
pay to Landlord its equitable share of such taxes within ten (10) days after delivery to Tenant by Landlord of a statement in writing setting forth the amount of such taxes determined by Landlord to be applicable to Tenant’s property.

 (c) Any Real Property Taxes or other taxes described in this Paragraph 7 that pertain to a period prior to or after the Lease Term will be
pro rated between Landlord and Tenant in the proportion of the amount of the Lease Term that falls within the period to which the Real Property Taxes or other taxes pertain. 
 (d) Tenant may contest any Real Property Taxes or other taxes described in this Paragraph 7 by proceedings conducted in accordance with law. Landlord
will cooperate fully with Tenant in any such contest. Tenant will hold Landlord harmless from any loss, liability, or expense arising out of any such contest. If Landlord so requires, Tenant shall escrow the disputed tax amount with Landlord as
security for any liability that may be incurred as a result of such contest. 
 8. USE OF PREMISES/MAINTENANCE OF LIQUOR LICENSE.

 (a) Tenant shall use the Premises only for the Permitted Use. Any other use shall be subject to the prior written consent of Landlord,
which may be withheld in Landlord’s reasonable discretion. 
 (b) Tenant shall not cause or permit any Hazardous Material (as herein
after defined) to be brought upon, transported through, stored, kept, used, discharged or disposed in or about the Property by Tenant, its agents, employees or contractors, except that any such Hazardous Material brought upon, transported, used,
kept or stored in or about the Property which is necessary for Tenant to operate its business for the Permitted Use will be brought upon transported, used, kept and sorted in only such quantities as are necessary for the usual and customary
operation of Tenant’s business and in a manner that complies with (i) all laws, rules, regulations, ordinances, codes or any other governmental restrictions or requirements of all federal, state and local government authorities having
jurisdiction thereof regulating such Hazardous Material, (ii) any permits issued for any such Hazardous Material (copies of which must be delivered to Landlord before any Hazardous Material is brought in, on or about the Property), and
(iii) all products and manufacturers’ instructions and recommendations, to the extent they are stricter than laws, rules, regulations, ordinances, codes or permits. If Tenant, its agents, employees or contractors, in any way breach the
obligations stated in this subparagraph 8(b), or if the presence of Hazardous Materials on the Property caused or permitted by Tenant results in release or threatened release of such Hazardous Material, on from or under the Property 

  

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in violation of law, or if the presence on, from or under the Property of Hazardous Materials otherwise arises out of the operation of Tenant’s business
in violation of law, Tenant shall indemnify, defend, and hold harmless Landlord (and Landlord’s directors, shareholders, officers, employees, partners, agents, mortgagees or successors to Landlord’s interest in the Premises) (collectively,
herein “Indemnity”) from any and all claims, sums paid in settlement of claims, judgments, damages, clean-up costs, penalties, fines, fees or expenses (including without limitation attorney, consultant and expert fees and any fees incurred
by Landlord to enforce the Indemnity) which arise during or after the Term as a result of Tenant’s breach of such obligations or such contamination of the Property violation of law as provided in this subparagraph 8(b). The Indemnity includes,
without limitation, costs incurred in connection with any investigation of site conditions or any clean-up, remedial, removal or restoration work required by any federal, state, or local governmental agency or political subdivision because of
Hazardous Material present in the soil or groundwater on, under or originating from the Property if it is determined that Tenant caused or permitted such Hazardous Material to be present in the soil or groundwater in violation of law. Without
limiting the foregoing, if the presence of any Hazardous Material on the Property caused or permitted by Tenant results in any contamination, release or threatened release of Hazardous Material on, from or under the Property or other properties in
violation of law, Tenant shall promptly take all actions at its sole cost and expense which are necessary to return the Property and any other affected property to the condition existing prior to the introduction of such Hazardous Material; provided
that Landlord’s approval of such actions shall first be obtained (which approval shall not be unreasonably withheld) and so long as such actions do not have or would not potentially have any material adverse effect on Landlord, on the Property
or on other property. The Indemnity contained in this subparagraph 8 (b) shall survive the expiration or earlier termination of this Lease and shall survive any transfer of Landlord’s interest in the Property. 
 (c) In conjunction with the operation of the Premises for its Permitted Use, Tenant has obtained a tavern license from the State of Colorado and the City
of Glendale (“Liquor License”). Tenant shall be solely responsible for and Tenant shall pay any and all fees, assessments, charges, levies or other monetary obligations imposed in connection with the Liquor License as required by
applicable law. In the event Tenant receives any notice of violation, citation, written or oral warning, or any complaint, objection, or challenge to the Liquor License, Tenant shall notify Landlord in writing of such information within three
(3) days of receipt of such written or oral notice and, if such notice was written, Tenant shall include in said notice a copy of any notice, citation, correspondence or other written information provided to Tenant. Tenant shall utilize its
best efforts to maintain the Liquor License in good standing and in full compliance with the rules, regulations, ordinances and statutes of the City of Glendale and the State of Colorado. 
 9. COMPLIANCE WITH LAW. Tenant shall not use the Premises or permit anything to be done in or about the Premises which will in any way conflict
with any law, statute, ordinance or governmental rule or regulation now in force or which may hereafter be enacted or promulgated including, without limitation, the Americans With Disabilities Act. Landlord represents to Tenant that Landlord has
received no notice that the Premises do not comply with all such laws, statutes, ordinances and rules and regulations on the Effective Date. Tenant shall, at its sole cost and expense, promptly comply with all laws, statutes, ordinances and
governmental rules, regulations or requirements now in force or which may hereafter be in force and with the requirements of any board of fire underwriters or other similar bodies now or hereafter constituted relating to or affecting the condition,
use or occupancy of the Premises, excluding those limited structural changes which are the responsibility of Landlord pursuant to 

  

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subparagraph 6(a) above, which shall be the sole cost and expense of Landlord; however, Tenant will not be obligated to comply with any such laws, statutes,
ordinances, rules, regulations and requirements if (a) Landlord had received notice that the Premises did not comply on the Effective Date, or (b) unless required by competent governmental authorities. Tenant may at its expense contest its
compliance obligations so long as Landlord is not subjected to any expense that Tenant does not pay or subject to criminal liability. The judgment of any court of competent jurisdiction or the admission of Tenant in any action against Tenant,
whether Landlord be a party thereto or not, that Tenant has violated any law, statute, ordinance or governmental rule, regulation or requirement, shall be conclusive of that fact as between Landlord and Tenant. 
 10. ALTERATIONS AND ADDITIONS. Tenant shall not make or allow to be made any structural alterations, additions or improvements to or of the
Premises or any part thereof without first obtaining the written consent of Landlord. However, Landlord’s consent will not be required to make any non-structural alterations, additions or improvements to the Premises that conform to applicable
building codes. In the event Landlord consents to the making of any alterations, additions or improvements to the Premises by Tenant, the same shall be made by Tenant at Tenant’s sole cost and expense and shall be completed in a good and
workmanlike manner, free of any liens. Any alterations, additions or improvements to or of the Premises, including, but not limited to, wall covering, paneling and built in cabinet work, but excepting movable furniture, decorations, trade fixtures
and any personal property, shall at once become a part of the realty and belong to Landlord and shall be surrendered with the Premises. Upon the expiration or sooner termination of the Term, Tenant shall, upon written demand by Landlord, at
Tenant’s sole cost and expense, forthwith and with all due diligence, remove any alterations, additions or improvements made by Tenant which are designated by Landlord to be removed at the time of installation, and Tenant shall, forthwith and
with all due diligence, at its sole cost and expense, repair any damage to the Premises caused by such removal. 
 11. MAINTENANCE
AND REPAIR. 
 (a) Subject to Landlord’s limited obligations under subparagraph 6(a), by taking possession of the Premises, Tenant
shall be deemed to have accepted the Premises as being in good order, condition and repair. Tenant shall, at Tenant’s sole cost and expense, keep the Premises and every part thereof in good condition and repair, including without limitation,
the maintenance, repair and replacement of any storefront, doors, window casements, glazing, plumbing, pipes, electrical wiring and conduits, and the heating and air conditioning (“HVAC”) system. Tenant shall obtain a service contract for
repairs and maintenance of the HVAC system and shall provide to Landlord a copy of the service contract along with written details of any and all scheduled and other repairs and maintenance performed on the HVAC system within ten (10) days of
the date of such performance. Tenant shall, upon the expiration or sooner termination of this Lease, surrender the Premises to Landlord in good condition, broom clean, ordinary wear and tear and damage subject to Paragraph 24 excepted. Except for
damage subject to Paragraph 24, any damage caused by Tenant’s use of the Premises shall be repaired at the sole cost and expense of Tenant. 
 (b) Except as specifically provided in subparagraph 6(a) above, Tenant shall repair and maintain the structural portions of the Building, including the exterior walls and roof. Landlord shall not be liable for Tenant’s failure to make
such repairs or to perform any maintenance. There shall be no abatement of Rent and no liability of Landlord by reason of any injury to or interference with Tenant’s business arising from the making of any repairs, alterations or improvements
in or to any portion of the Building or the Premises or in or to fixtures, appurtenances and equipment therein. Tenant waives any right to make repairs at Landlord’s expense under any law, statute or ordinance now or hereafter in effect.

  

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 (c) If Tenant refuses or neglects to repair or maintain the Premises, as required herein, to the
reasonable satisfaction of Landlord, Landlord shall provide Tenant with written notice of any such refusal or neglect and Tenant shall repair any item mentioned in said notice within thirty (30) days thereafter. If Tenant has not made such
repairs within the 30-day period, Landlord may make such repairs without liability to the Tenant for any loss or damage it may accrue to Tenant’s merchandise, fixtures or other property or to Tenant’s business by reason thereof and, upon
completion thereof, Tenant shall pay Landlord’s costs for making such repairs upon presentation of a bill thereof. In the event Tenant does not pay such bill within ten (10) days of its receipt, such failure shall be an event of default
hereunder, Landlord shall be entitled to utilize all of its remedies herein and such amount shall bear interest at the rate of eighteen percent (18%) per annum from the date of the notice. Notwithstanding the foregoing, in the event that Tenant
in good faith disputes Landlord’s claim that Tenant has failed to repair or maintain any aspect of the Premises, then if Landlord makes any repairs, Tenant shall not be obligated to pay for the repairs or any interest thereon until the dispute
is finally determined; provided, that Tenant shall deposit the disputed amount with the Landlord until the dispute is resolved. 
 12. LIENS. Tenant shall keep the Property free from any liens arising out of any work performed, materials furnished or obligations incurred by or on behalf of Tenant or shall facilitate the release or protest of any such lien within
thirty (30) days after the lien is filed. Landlord shall have the right to post notices on the Premises that the Premises are not subject to liens of those providing labor and/or materials to the Premises at the request of the Tenant pursuant
to Colorado Statutes. Tenant shall provide Landlord with ten (10) days prior written notice prior to commencing any improvements at the Property, to allow Landlord adequate time to post said notices. If Tenant determines to protest any lien, or
if such lien affects Landlord’s interest in the Premises, for any reason, Landlord may require Tenant to post a bond pursuant to the provisions of C.R.S. § 38-22-131. 
 13. ASSIGNMENT AND SUBLETTING. 
 (a)
Tenant shall not (voluntarily, by operation of law or otherwise) assign, transfer, mortgage, pledge, hypothecate or encumber this Lease or any interest therein, and shall not sublet the Premises or any part thereof, or any right or privilege
appurtenant thereto, or allow any other person (the employees, agents, servants and invitees of Tenant excepted) to occupy or use the Premises, or any portion thereof, without first obtaining the written consent of Landlord, which consent will not
be unreasonably withheld, conditioned or delayed and will not be withheld if the assignee, subtenant or transferee is reputable, has equal or better credit than Tenant and any guarantor of this Lease at the time of the subject transaction, and has
substantial experience in the operation of the Permitted Use. Any assignment or subletting without such consent (whether actual or deemed) shall be void, and shall, at the option of Landlord, constitute a default under the terms of this Lease.
Acceptance of Rent by Landlord from anyone other than Tenant shall not be construed as a consent or waiver by Landlord, nor as a release of Tenant, but the same shall be taken to be a payment on account of Tenant. A consent to one assignment,
subletting, occupation or use by any other person shall not be deemed to be a consent to any subsequent assignment, subletting, occupation or use by another person. Notwithstanding anything to the contrary in this Paragraph 13, Tenant may assign or
sublet the Premises without 

  

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the prior written consent of Landlord, to an entity which currently owns more than fifty percent (50%) of the voting stock of Tenant or which Tenant
owns greater than fifty percent (50%) of all classes of stock (or all classes of partnership or membership interest). 
 (b) Tenant
shall provide Landlord with a copy of any proposed sublease or assignment that contains the name and address of the proposed subtenant or assignee, the anticipated effective date of the proposed sublease or assignment, the duration of the term of
any proposed sublease, and the amount of space any proposed subtenant will occupy. In addition, Tenant shall provide detailed information regarding the proposed subtenant’s or assignee’s financial condition and credit history, relevant
business history and experience, together with any other pertinent information which Landlord reasonably requires. Landlord may require an opportunity to meet and interview the proposed subtenant or assignee as well. For purposes of Landlord’s
consent to a proposed sublease or assignment, it shall be considered reasonable for Landlord to consider (i) the relative financial strength, business reputation and operational/management experience of Tenant and the proposed subtenant or
assignee, (ii) any history that the proposed subtenant or anyone has with the liquor licensing agencies of the City of Glendale and the State of Colorado, and (iii) whether the use of the Premises after such sublease or assignment would
create any nuisance or violate any federal, state or local laws or involve Hazardous Materials. 
 (c) If Landlord consents to a proposed
assignment or sublease, the form of such assignment or sublease shall be satisfactory to Landlord and shall (i) incorporate this Lease in its entirety and be subject to its terms, (ii) provide that Tenant shall remain liable under this
Lease, (iii) provide that subtenant will comply with all terms and conditions of this Lease, (iv) provide for assumption by an assignee of all the terms, covenants and conditions which this Lease requires Tenant to perform, and
(v) include a requirement that any subtenant attorn to the Landlord. Landlord’s consent will not be effective unless and until Tenant delivers to Landlord an original, duly executed assignment or sublease, as the case may be, in a form
satisfactory to Landlord, as set forth herein. Tenant shall pay Landlord’s reasonable fees, not to exceed One Thousand Dollars ($1,000.00), incurred for review of such assignment or sublease and all other materials submitted by Tenant in
connection with the request for Landlord’s consent, whether or not such assignment or sublease is approved. 
 Notwithstanding anything
else in this article contained, as a condition to Landlord’s written approval of any sublease by Tenant, Landlord may require that it shall be entitled to the receipt of one hundred percent (100%) of any profit derived by Tenant as a
result of such sublease. Such profit is defined as any amounts received by Tenant from its subtenant pursuant to the sublease in excess of the Rent required to be paid by Tenant hereunder. In the absence of any such agreement between Tenant and its
subtenant, there will be deemed to be no profit. Tenant shall deliver all documents pertaining to any such subletting to Landlord upon Landlord’s demand. Such profit shall not include any lump-sum payment made to Tenant from its subtenant in
consideration of the transfer of Tenant’s business, trade name, inventory, or goodwill: but any amount attributed to lease assignment on any document concerning the transaction (including the assignee’s tax return) by assignee shall be
conclusively established as not attributable to Tenant’s business, trade name, inventory or goodwill, and therefore, shall be included in Tenant’s profits as described herein. 
 14. HOLD HARMLESS. Except as limited by Paragraph 15, Tenant shall indemnify and hold Landlord harmless against and from any and all claims
arising from Tenant’s use of the Premises or from the conduct of its business or from any activity, work or other things done, 

  

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permitted or suffered by Tenant in or about the Premises, and shall further indemnify and hold Landlord harmless against and from any and all claims arising
from any breach or default in the performance of any obligation on Tenant’s part to be performed under the terms of this Lease, or arising from any act or negligence of Tenant, or any officer, agent, employee, guest or invitee of Tenant, and
from all costs, attorney’s fees and liabilities incurred in or about the defense of any such claim or any action or proceeding brought thereon, and in case any action or proceeding be brought against Landlord by reason of such claim. Tenant
upon written notice from Landlord shall defend the same at Tenant’s expense. Tenant, as a material part of the consideration to Landlord, hereby assumes all risk of damage to its property or injury to persons in, upon or about the Premises,
from any cause other then the negligence of Landlord, its agents, servants or employees. Tenant shall give prompt written notice to Landlord in case of casualty or accidents in the Premises. 
 15. WAIVER OF SUBROGATION. Landlord and Tenant hereby waive any and all rights of recovery against each other, or against their respective
officers, shareholders, employees, agents or representatives, for loss of or damage to property of the other. Landlord and Tenant shall give notice to their insurance carrier of this waiver of subrogation. 
 16. INSURANCE. Commencing on the Effective Date and continuing throughout the Lease Term, Tenant shall carry and maintain the following insurance
(“Tenant’s Insurance”): (a) a “Broad” form of insurance policy, with an endorsement insuring against loss of Minimum Rent (including Extended Period of Recovery, if applicable) insuring the buildings and improvements of
the Property (and leasehold improvements) for 100% of their replacement value; (b) public liability, bodily injury and damage comprehensive insurance coverage insuring against claims of any and all personal injury, death or damage occurring in
or about the Premises or the sidewalks adjacent thereto, with a combined single limit coverage of not less than $3,000,000 (subject only to a commercially reasonable deductible), on an “occurrence” form and including contractual liability
coverage for the performance by Tenant of the indemnity agreements set forth in Paragraph 15 above; (c) worker’s compensation insurance insuring against and satisfying the worker’s compensation laws of the State of Colorado; and
(d) “dram shop” or liquor liability insurance. Tenant’s Insurance shall be issued by an insurance company of recognized standing, authorized to do business in the State of Colorado and having a Best’s Insurance Guide rating
of at least A:VII and satisfactory to Landlord. Tenant’s Insurance (other than any policy of worker’s compensation insurance) will name Landlord and Landlord’s lender(s) as additional insureds. Original or copies of original policies
(together with copies of the endorsements naming Landlord and Landlord’s lender(s) as additional insureds) will be delivered to Landlord prior to the Effective Date. Tenant’s Insurance will provide that it may not be terminated or amended
except after thirty (30) days prior written notice to Landlord. All public liability property damage, liability and casualty policies maintained by Tenant shall be written as primary policies, not contributing with and not supplemental to
coverage that Landlord may carry. 
 17. UTILITIES. 
 (a) Tenant shall pay for all water, gas, heat, light, power, sewer charges, telephone service and all other services and utilities supplied to the Premises, together with any taxes thereon. 
 (b) Landlord has advised Tenant that presently LG & E, f/k/a (“Electric & Gas Service Provider”) is the utility company
selected by Landlord to provide electricity and Gas for the Property. 
  

 10 

 (c) Landlord does not warrant or guarantee the continued availability of any or all of the utility
services necessary or desirable for the use of the Premises by Tenant. In no event shall the interruption, diminution or cessation of such services (unless caused by Landlord) be construed as an actual or constructive eviction of Tenant, nor shall
Tenant be entitled to any abatement of its Rent obligations under this Lease or on account thereof. Landlord shall in no way be liable or responsible for any loss, damage, or expense that Tenant may sustain or incur by reason of any change, failure,
interference, interruption, disruption or defect in the supply or character of the utilities furnished to the Premises (unless caused by Landlord), and no such change, failure, diminution, cessation, unavailability or unsuitability shall constitute
an actual or constructive eviction, in whole or in part, or entitle Tenant to any abatement or diminution of rent, or relieve Tenant from any of its obligations under the Lease (unless caused by Landlord). In the event that any interruption,
diminution or cessation of such services occurs solely as a result of the acts or omissions of Landlord (or Landlord’s agents, employees or contractors), then Tenant’s Rent shall be abated during the period of interruption, diminution or
cessation. 
 18. PERSONAL PROPERTY. Any property of Tenant remaining in the Premises at any time when Landlord recovers possession of
the Premises shall be deemed abandoned, and Landlord shall have no responsibility or liability whatsoever for any of the same. Notwithstanding the foregoing, Landlord may store any such property in any public or private warehouse, and Tenant shall
pay to Landlord promptly upon demand all costs incurred in connection with such property, including the costs of moving and storage, court costs, and attorney fees. Landlord at its option may, without notice, sell any such personal property at any
public or private sale, with or without legal process, for such prices as Landlord may obtain, and Landlord shall apply the proceeds of such sales first to the costs incurred in connection with such property, and then to any amounts due under this
Lease from Tenant to Landlord, and the surplus, if any, to Tenant. Landlord waives any statutory lien on Tenant’s personal property in the Premises. 
 19. FAILURE TO SURRENDER POSSESSION. 
 (a) The parties recognize and agree that the damage to Landlord
resulting from any failure by Tenant to timely surrender possession of the Premises will be substantial, will exceed the amount of the monthly installments of the Rent payable hereunder, and will be impossible to measure accurately. 
 (b) Subject to subparagraph 3(b) herein, Tenant therefore agrees that if possession of the Premises are not surrendered to Landlord upon the expiration
or sooner termination of this Lease, in addition to any other rights or remedies Landlord may have hereunder or at law, Tenant shall pay to Landlord, as liquidated damages, for each month and for each portion of any month during which Tenant holds
over in the Premises after the expiration or sooner termination of this Lease, a sum equal to one hundred thirty percent (130%) of the aggregate of that portion of the monthly Rent that was payable under this Lease during the last month of the
term hereof. The provisions of this subparagraph shall survive the expiration or sooner termination of this Lease. 
 (c) No provision of
this Paragraph 19 or any other provision of this Lease shall be deemed to permit Tenant to retain possession of the Premises after the expiration or sooner termination of the Lease Term, or to have extended or renewed the Lease Term beyond its
expiration or termination. Acceptance of any payment of Rent during any holdover period by Landlord shall not be deemed acceptance of Tenant’s occupancy. 
  

 11 

 20. ENTRY BY LANDLORD. Upon no less than twenty-four (24) hours’ prior notice which may
be given orally to Troy Lowrie or his designee identified in a written notice to Landlord, Landlord shall at any and all times have the right to enter the Premises to inspect the same, to show the Premises to prospective purchasers or (in the last
six (6) months of the Lease Term or any Extended Term) tenants and to post notices of non-responsibility. Landlord shall also have the right to conduct such maintenance and repair of or to the Premises (or the Building) as this Lease requires
or allows Landlord to perform, without abatement of Rent, and for that purpose may erect scaffolding and other necessary structures where reasonably required by the character of the work to be performed, always providing that the entrance to the
Premises shall not be unreasonably blocked thereby, and further provided that the business of Tenant shall not be interfered with unreasonably. Landlord shall attempt to minimize interference with Tenant’s business. Tenant hereby waives any
claim for damages or for any injury or inconvenience to or interference with Tenant’s business, loss of occupancy or quiet enjoyment of the Premises, and any other loss occasioned thereby, unless occasioned by the willful act or negligence of
Landlord, its agents, employees or contractors. Landlord shall have the right to access without notice and to use any and all means which Landlord may deem proper to open said doors in an emergency, in order to obtain entry to the Premises without
liability to Tenant except for any failure to exercise due care for Tenant’s property. Any entry to the Premises obtained by Landlord by any of such means, or otherwise, shall not under any circumstances be construed or deemed to be a forcible
or unlawful entry into, or a detainer of the Premises, or an eviction of Tenant from the Premises or any portion thereof. 
 21.
TENANT’S DEFAULT. The occurrence of any one or more of the following events shall constitute a default and breach of this Lease by Tenant: 
 (a) the abandonment of the Premises; 
 (b) failure by Tenant to pay any Rent when required hereunder and such failure continues for
ten (10) days after Tenant’s receipt of written notice from Landlord of such failure, provided, that Landlord shall only be obligated to provide Tenant with written notice of monetary default one (1) time in any period of
twelve (12) consecutive months; 
 (c) failure by Tenant to observe or perform any of the covenants, conditions or provisions of this
Lease to be observed or performed by Tenant, except the payment of Rent, where such failure shall continue for a period of thirty (30) days after written notice thereof by Landlord to Tenant (provided, however, that if the nature of
Tenant’s default is such that more than thirty (30) days are reasonably required for its cure, then Tenant shall not be deemed to be in default if Tenant commences such cure within said thirty (30) day period and thereafter diligently
prosecutes such cure to completion); 
 (d) the making by Tenant or Guarantor (while the Guaranty is in effect) of any general assignment or
general arrangement for the benefit of creditors; or the filing by or against Tenant or Guarantor (while the Guaranty is in effect) of a petition to have Tenant or Guarantor (while the Guaranty is in effect) adjudged a bankrupt, or a petition or a
reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Tenant, the same is dismissed within sixty (60) days); or the appointment of a trustee or a receiver to take possession of
substantially all of Tenant’s assets located at the Premises or of 

  

 12 

 
Tenant’s interest in this Lease, where possession is not restored to Tenant within thirty (30) days; or the attachment, execution or other judicial
seizure of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, where such seizure is not discharged within thirty (30) days; or 
 (e) any of the Liquor License for the Premises is revoked or is suspended for more than three (3) weeks by the State of Kentucky or the City of
Louisville for any reason whatsoever. 
 Notwithstanding the cure period allowed by subparagraph (c) above, it shall be an immediate
default under this Lease if Tenant fails to surrender the Premises to Landlord upon the expiration or sooner termination of the Lease, or if any failure of Tenant to comply with any provision of this Lease results in the cancellation of any property
insurance coverage or causes or results in a dangerous condition on the Premises or the remainder of the Property, and such failure to comply is not cured as soon as reasonably possible after notice thereof by Landlord to Tenant. In no event shall
financial inability be considered a reasonable ground for failure of Tenant to cure any breach of, or failure to comply with, the provisions of this Lease. 
 22. LANDLORD’S REMEDIES. In the event of any such default or breach by Tenant, Landlord may take any of the following actions at any time thereafter, in its sole discretion, with or without notice or
demand and without limiting Landlord in the exercise of any right or remedy which Landlord may have by reason of such default or breach under the laws or judicial decisions of the State of Colorado. 
 (a) Landlord may terminate Tenant’s right to possession of the Premises by any lawful means, in which case this Lease shall terminate, Tenant shall
immediately surrender possession of the Premises to Landlord, and Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant’s default including, but not limited to, the cost of recovering possession
of the Premises; the cost to restore the Premises to the condition required by this Lease at the end of the Lease Term; and reasonable attorney fees. 
 (b) Landlord may reenter and take possession of the Premises or any part thereof, without demand or notice, and repossess the same and expel Tenant and any party claiming by, under or through Tenant, and remove the
effects of both using such force for such purposes as may be necessary, without being liable for prosecution on account thereof of being deemed guilty of any manner of trespass, and without prejudice to any remedies for arrears of Rent or right to
bring any proceeding for breach of covenants or conditions. No such reentry or taking possession of the Premises by Landlord shall be construed as an election by Landlord to terminate this Lease unless a written notice of such intention is given to
Tenant. No notice from Landlord hereunder or under a forcible entry and detainer statute or similar law shall constitute an election by Landlord to terminate this Lease unless such notice specifically so states. Landlord reserves the right,
following any reentry or releting, to exercise its right to terminate this Lease by giving Tenant such written notice, in which event this Lease will terminate as specified in such notice. After recovering possession of the Premises, Landlord use
reasonable efforts to relet the Premises, or any part thereof, for the account of Tenant, for such term or terms and on such conditions and upon such other terms as Landlord, in its discretion, may determine. Landlord may make such repairs,
alterations or improvements as Landlord may consider reasonably appropriate to accomplish such releting, and Tenant shall reimburse Landlord upon demand for all reasonable costs and expenses (including without limitation leasing commissions and
attorney fees) which Landlord may incur in connection with such releting. Landlord may 

  

 13 

 
collect and receive the rents for such releting but Landlord shall in no way be responsible or liable for any failure to relet the Premises, or any part
thereof, or for any failure to collect any rent due upon such releting. Notwithstanding Landlord’s recovery of possession of the Premises, Tenant shall continue to pay on the dates herein specified, the Minimum Rent and all Additional Rent
which would be payable hereunder if such repossession had not occurred, less a credit for the net amounts, if any, actually received by Landlord through any releting of the Premises. 
 (c) Landlord may maintain Tenant’s right to possession, in which case this Lease shall continue in effect whether or not Tenant shall have abandoned
the Premises. In such event Landlord shall be entitled to enforce all of Landlord’s rights and remedies under this Lease, including the right to recover the Rent as it becomes due hereunder. 
 (d) In any event, Landlord shall be entitled to recover interest on any unpaid Rent or any amounts owing pursuant to this Lease not paid when due at the
rate of eighteen percent (18%) per annum from the date due until paid in full. 
 23. DEFAULT BY LANDLORD. Landlord shall not be
in default under this Lease unless Landlord fails to perform obligations required of Landlord within a reasonable time, but in no event later than thirty (30) days after written notice by Tenant to Landlord and to the holder of any first
mortgage or deed of trust covering the Premises whose name and address shall be furnished to Tenant in writing within ten (10) days after the execution of this Lease and within ten (10) days following any change in the holder of the first
mortgage or deed of trust, specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s obligations is such that more than thirty (30) days are required for performance then
Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. 
 24. RECONSTRUCTION. 
 (a) Subject to the provisions of subparagraphs (b) and (c) below, in
the event the Premises or any other portion of the Building is damaged by fire or other perils covered by extended coverage insurance, and such damage does not require structural demolition and reconstruction of all or part of the Building, Landlord
agrees to forthwith repair such damage utilizing the proceeds of insurance and this Lease shall remain in full force and effect, except that Tenant shall be entitled to an equitable reduction of Minimum Rent from the date of damage until completion
of such repairs, based on the extent to which the damage and making of such repairs shall reasonably interfere with the business carried on by Tenant in the Premises. 
 (b) In the event that any casualty requires structural demolition and reconstruction of all or a material part of the Building (whether or not such reconstruction involves any portion of the Premises), Tenant may, at
its election, give notice to Landlord at any time within sixty (60) days after such damage, terminating this Lease as of the date of the casualty. In the event of giving such notice, this Lease and all interest of Tenant in the Premises shall
terminate on the date of the casualty, the Rent shall be paid up to the date of such casualty, and Landlord shall be entitled to all insurance maintained by Tenant on the Building (except for proceeds attributable to Tenant’s personal property
in, on or about the Premises). In the alternative, and so long as at least five (5) years remain in the Term or Tenant then exercises an Option pursuant to Paragraph 3(b), if any Tenant may, by written notice to Landlord within such 60-day
period, elect to require Landlord to repair or restore such damage, in which case the Minimum Rent shall be proportionately reduced as provided in subparagraph (a) above and this 

  

 14 

 
Lease shall continue in full force and effect; PROVIDED, HOWEVER, that Tenant shall have the right to alter the size and configuration of the Building in the
course of such reconstruction, so long as the Building as reconstructed is an integrated architectural unit, the dimensions of the Premises are substantially the same as prior to such casualty and Tenant is able to operate its business as intended
at the time of Lease execution, subject to Landlord’s approval which will not be unreasonably conditioned, delayed or denied. If Tenant elects to require Landlord to construct the improvements, Tenant will make available to Landlord all
insurance proceeds received by Tenant or due to Tenant, and, prior to any reconstruction, Tenant will deposit with Landlord or its contractor the amount by which the cost of reconstruction exceeds the amount of the insurance proceeds. 
 25. EMINENT DOMAIN/TERMINATION OF BUSINESS. If more than twenty percent (20%) of the Building shall be taken or appropriated by any public or
quasi-public authority under the power of eminent domain, either party hereto shall have the right, at its option, within sixty (60) days after said taking, to terminate this Lease upon thirty (30) days written notice. If less than twenty
percent (20%) of the Building is taken (or if more than 20% is taken but neither party elects to terminate as herein provided), the Minimum Rent thereafter to be paid shall be equitably reduced. If all of the Property other than the Building
shall be so taken or appropriated, Landlord or Tenant shall within sixty (60) days of said taking have the right at its option to terminate this Lease upon written notice to Tenant. In the event of any taking appropriation whatsoever, Landlord
shall be entitled to any and all awards and/or settlements which may be given, and Tenant shall have no claim against Landlord for the value of any unexpired term of this Lease. Tenant may apply separately to the condemning authority to obtain
compensation for its relocation expenses. 
 In the event the City of Louisville rezones the Premises in a fashion that precludes Tenant from
operating any material part of the Premises for the Permitted Use or prohibits the use of the Premises for the Permitted Use (a so-called “amortization”), as determined by Tenant in its reasonable discretion, Tenant shall be entitled to
terminate this Lease without further liability upon the provision of sixty (60) days advance written notice to Landlord. Tenant shall utilize its best efforts to contest any rezoning or prohibition and shall keep Landlord fully informed of the
status of such rezoning actions by the City of Louisville. 
 26. SIGNS. Tenant may affix and maintain only such signs, advertising
placards, names, insignia, trademarks and descriptive material (collectively “Signs”) as shall have first received the written approval of competent governmental agencies as to type, size, color, location, copy nature and display
qualities. Upon expiration or earlier termination of this Lease, Tenant’s Signs may, at Tenant’s election, remain on the Property. Tenant may use any Signs (and replacements or renovations to them) on the Property beginning on the
Effective Date. 
 27. GUARANTY. During the first ten (10) Lease Years, the obligations of Tenant under this
Lease shall be unconditionally guaranteed by Guarantor pursuant to the form of Guaranty Agreement attached hereto as Exhibit B. 
 28. ACCORD AND SATISFACTION. No payment by Tenant, nor receipt by Landlord, of a lesser amount than the Rent herein stipulated shall be deemed to be other than on an account of the earliest stipulated Rent, nor shall any endorsement
or statement on any check or any letter accompanying any check, or payment as Rent, be deemed an accord and satisfaction, and Landlord shall accept such check for payment without prejudice to Landlord’s right to recover the balance of such Rent
or pursue any other remedy available to Landlord. 

  

 15 

 
Tenant expressly waives any right it may have to claim that any payment due from Tenant to Landlord hereunder, which payment is less than the full amount due
to the Landlord or claimed by Landlord, shall be deemed an accord and satisfaction. This waiver of Tenant’s right to claim an accord and satisfaction shall be without regard to whether or not a dispute exists with regard to the amount claimed
by Landlord. No payment by Tenant, nor receipt by Landlord, of a lesser amount than the full amount due pursuant to this Lease shall be deemed to be other than on an account of Tenant toward the amount claimed by Landlord, nor shall any letter or
statement accompanying any such payment be deemed an accord and satisfaction, and Tenant hereby waives its right to so claim. 
 29. GROSS
SALES REPORTS. Within sixty (60) days after the end of each calendar year during the Lease Term and to the extent not prohibited by law, Tenant shall furnish to Landlord a copy of the state sales tax report showing sales made in, upon or
from the Premises during the preceding calendar year. 
 30. GENERAL PROVISIONS. 
 (a) Waiver. The waiver of any term, covenant or condition herein contained shall not be deemed to be a waiver of such term, covenant or condition
or any subsequent breach of the same or any other term, covenant or condition herein contained. The subsequent acceptance of Rent hereunder by Landlord shall not be deemed to be a waiver of any preceding default by Tenant of any term, covenant or
condition of this Lease, other than the failure of Tenant to pay the particular Rent so accepted, regardless of Landlord’s knowledge of such preceding default at the time of the acceptance of such Rent. 
 (b) Marginal Headings. The marginal headings and titles to the articles of this Lease are not a part of the Lease and shall have no effect upon
the construction or interpretation of any part hereof. 
 (c) Time. Time is of the essence of this Lease and each and all of its
provisions in which performance is a factor. 
 (d) Successors and Assigns. The covenants and conditions herein contained, subject to
the provisions as to assignment, apply to and bind the heirs, successors, executors, administrators and assigns of the parties hereto. 
 (e)
Recordation. Neither Landlord nor Tenant shall record this Lease, but a short form memorandum hereof may be recorded at the request of Landlord or Tenant. 
 (f) Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent due hereunder will cause Landlord to incur costs not contemplated by this
Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by terms of any mortgage or trust deed
covering the Premises. Accordingly, if any installment of Rent due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if
notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required), then Tenant shall pay to Landlord a late charge equal to five percent (5%) of the installment or $500, whatever is
greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due 

  

 16 

 
hereunder. The parties hereby agree that such late charges represent a fair and reasonable estimate of the cost that Landlord will incur by reason of the
late payment of Tenant. Acceptance of such late charges by Landlord shall in no event constitute a waiver of Tenant’s default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted
hereunder. 
 (g) Prior Agreements. This Lease contains all of the Agreements of the parties hereto with respect to any matter covered
or mentioned in this Lease, and no prior agreement or understanding pertaining to any such matters shall be effective for any purpose. No provision of this Lease may be amended or added to except by an agreement in writing signed by the parties
hereto of their respective successors in interest. This Lease shall not be effective or binding on any party until fully executed by both parties hereto. 
 (h) Partial Invalidity. Any provisions of this Lease which shall prove to be invalid, void, or illegal shall in no way effect, impair or invalidate any other provision hereof, and all such other provisions
shall remain in full force and effect. 
 (i) Cumulative Remedies. No remedy or election hereunder shall be deemed exclusive but
shall, whenever possible, be cumulative with all other remedies at law or in equity. 
 (j) Choice of Law. This Lease shall be
governed by the laws of the State of Colorado. 
 (k) Attorney Fees. In the event any action or proceeding is brought by either party
against the other under this Lease, the prevailing party shall be entitled to recover for the fees of its attorneys in such action or proceeding, including costs of appeal, if any, such amount as the court may adjudge reasonable as attorney fees.

 (l) Sale of Premises by Landlord. In the event of any sale of the Premises by Landlord, Landlord shall be and is hereby entirely
freed and relieved of all liability under any and all of its covenants and obligations contained in or derived from this Lease arising out of any act, occurrence or omission occurring after the consummation of such sale; and the purchaser, at such
sale or any subsequent sale of the Premises, shall be deemed, without any further agreement between the parties or their successors in interest or between the parties and any such purchaser, to have assumed and agreed to carry out any and all of the
covenants and obligations of Landlord under this Lease. 
 (m) Subordination, Attornment. So long as it is provided a subordination,
nondisturbance and attornment agreement in form and substance reasonably acceptable to it, upon request of Landlord, Tenant will in writing subordinate its rights hereunder to the lien of any mortgage or deed of trust, to any bank, insurance company
or other lending institution, now or hereafter in force against the Premises, and to all advances made or hereafter to be made upon the security thereof. In the event any proceedings are brought for foreclosure, or in the event of the exercise of
the power of sale under any mortgage or deed of trust made by Landlord covering the Premises, Tenant shall attorn to the purchaser upon any such foreclosure or sale, and recognize such purchaser as the Landlord under this Lease so long as it is
provided a subordination, nondisturbance and attornment agreement in form and substance reasonably acceptable to it. The provisions of this subparagraph to the contrary notwithstanding, and so long as Tenant is not in default hereunder, this Lease
shall remain in full force and effect for the full Lease Term hereof. 
  

 17 

 (n) Notices. Except as set forth below, all notices to be given hereunder by either of the parties
shall be in writing. Any notice may be served by Landlord upon Tenant personally by delivering the same to Tenant directly. Any notice shall be deemed duly served by either party if addressed as set forth below and (i) deposited with the United
States Postal Service as certified mail, return receipt requested, with proper postage prepaid, or (ii) deposited with FedEx or other reliable overnight courier for expedited delivery. Either party may change the address to which the notices
may be sent by delivering a copy thereof to the other party in the manner aforesaid and sent contemporaneously by telecopy. If service is made by personal delivery or Federal Express, such service shall be deemed completed upon actual receipt of
such material. If service shall be made by certified mail, such service shall be deemed completed as of the third day following the mailing of such notice in the manner aforesaid. 
  

			
	 To Landlord:
	 	Lowrie Management LLLP
		 	 6729 Bear Point Trail
 Golden, Colorado 80403

Tele: (303) 934-2424
 Fax: (303) 922-0746

		
	 To Tenant:
	 	Kentucky Restaurant Concepts, Inc.
		 	 390 Union Boulevard, Suite 540
 Lakewood, Colorado
80228
 Tele: (303) 934-2424
 Fax: (303)
922-0746

 (o) Estoppel Statement. Landlord and Tenant shall at any time and from time to time, upon
not less than ten (10) days prior written notice from Landlord, execute, acknowledge and deliver a statement in writing containing such statements as Landlord or Tenant or any prospective purchaser or mortgagee of the Property or Tenant’s
business at the Property may require, including (a) certification that this Lease is unmodified and in full force and effect (or, if modified, stating the nature of such modification and certifying that this Lease as so modified is in full
force and effect), and the date to which the rental and other charges are paid in advance, if any, (b) acknowledgment that there are not, to the certifier’s knowledge, any uncured defaults on the part of Landlord hereunder, or specifying
such defaults if any are claimed, (c) confirmation of the Effective Date and the expiration date of the Lease Term, (d) confirmation that no rents have been paid more than one (1) month in advance, and (e) confirmation that
Tenant has no right to purchase the Premises other than as contained herein. If Landlord or Tenant fails to execute an estoppel statement within such ten (10) day period, Landlord or Tenant (as the case may be) is hereby authorized to execute
an estoppel statement as Landlord’s or Tenant’s attorney in fact. Any such statement may be relied upon by the prospective purchaser or encumbrancer of all or any portion of the Property or Tenant’s business at the Property.

 (p) Authority. If Tenant is a corporation, partnership, trust or limited liability company, each individual executing this Lease on
behalf of Tenant represents and warrants that he or she is duly authorized to execute and deliver this Lease on behalf of Tenant in accordance with the bylaws, partnership agreement or operating agreement (as the case may be) of Tenant, and that
this Lease is binding upon Tenant. 
  

 18 

 (q) No Partnership. It is expressly understood that the Landlord and Tenant are not partners or
co-venturers and that the Landlord has no right, title or interest in and to the business of the Tenant, and that the Tenant has no right to represent or bind the Landlord or Tenant (as the case may be) in any respect whatsoever, and that nothing
contained herein shall be deemed, held or construed as making the Landlord or Tenant a partner or associate of Landlord or Tenant, or as rendering the Landlord or Tenant liable for any debts, liabilities or obligations incurred by the Tenant; it is
being expressly understood that the relationship between the parties hereto is, and shall at all times remain that of Landlord and Tenant. 
 31. USE OF ROOF. Tenant may utilize all or a portion of the roof, upon Landlord’s advance written consent, not to be unreasonably withheld, at no extra charge for those uses which are reasonably affiliated with the Permitted
Use. 
 32. BROKERS. Tenant warrants that it has had no dealings with any real estate broker or agents in connection with the
negotiation of this Lease. 
 IN WITNESS WHEREOF, Landlord and Tenant have executed this Lease as dated: 
  

							
	LANDLORD:
	
	 LOWRIE MANAGEMENT LLLP,
 a Colorado
limited liability limited partnership

		
	By:	 	 LOWRIE INVESTMENT MANAGEMENT
 CORP,
a Colorado corporation, its general partner

			
		 	 By:
	 	 /s/ Troy H. Lowrie

		 	 Name:
	 	Troy H. Lowrie
		 	 Title:
	 	President
		 	 Date:
	 	January 1, 2007

  

							
	TENANT:
	
	 KENTUCKY RESTAURANT CONCEPTS Inc.,
 a Kentucky Corporation

		
	By:	 	VCG Holding Corp., its parent company
			
		 	 By:
	 	 /s/ Donald W. Prosser

		 	 Name:
	 	Donald W. Prosser
		 	 Title:
	 	Chief Financial Officer
		 	 Date:
	 	January 1, 2007

  

 19 

 EXHIBIT “A” 
 LOCATION OF PREMISES 
 227 E. Market Street, Louisville, KentuckyAmended and Restated Credit Agreement

 Exhibit 4.2 
 FIRST AMENDMENT TO AMENDED AND 
 RESTATED CREDIT AGREEMENT 
 THIS FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”) is made and entered into as of January 22, 2007 by
and among OCEANEERING INTERNATIONAL, INC., a Delaware corporation (the “Borrower”); each of the Lenders which is or may from time to time become a party to the Agreement (as defined below) (individually, a “Lender”
and, collectively, the “Lenders”), and WELLS FARGO BANK, N.A., acting as administrative agent for the Lenders (in such capacity, together with its successors in such capacity, the “Administrative Agent”).

 RECITALS 
 A. The
Borrower, the Lenders and the Administrative Agent executed and delivered that certain Amended and Restated Credit Agreement dated as of January 2, 2004. Said Agreement, as amended, supplemented and restated, is herein called the
“Agreement”. Any capitalized term used in this Amendment and not otherwise defined shall have the meaning ascribed to it in the Agreement. 
 B. The Borrower, the Lenders and the Administrative Agent desire to amend the Agreement in certain respects. 
 NOW, THEREFORE, in consideration of the premises and the mutual agreements, representations and warranties herein set forth, and further good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
Borrower, the Lenders and the Administrative Agent do hereby agree as follows: 
 SECTION 1. Amendments to Agreement. 
 (a) The definition of “Aggregate Commitments” set forth in Section 1.1 of the Agreement is hereby amended to read in its
entirety as follows: 
 “Aggregate Commitments” means the aggregate amount of the Commitments of all the Lenders
which, as of January 22, 2007, shall be $300,000,000, but which may be decreased pursuant to Section 2.4 hereof or increased pursuant to Section 2.9 hereof. 
 (b) A new definition of “Commitment Fee Percentage” is hereby added to Section 1.1 of the Agreement, such new definition to
read in its entirety as follows: 
 “Commitment Fee Percentage” means (i) on any day prior to Agent’s
receipt of the Quarterly Financial Statements and Compliance Certificate required by Sections  

 
7.2(b) and 7.2(c) hereof for the fiscal quarter ending December 31, 2006, 0.15% and (ii) on and after the date of delivery of such
Quarterly Financial Statements and Compliance Certificate, the applicable per annum percentage set forth at the appropriate intersection in the table shown below, based on the Debt to Capitalization Ratio as of the last day of the most recently
ended fiscal quarter of Borrower calculated by Agent as soon as practicable after receipt by Agent of all financial reports required under this Agreement with respect to such fiscal quarter (including a Compliance Certificate) (provided, however,
that if the Commitment Fee Percentage is increased as a result of the reported Debt to Capitalization Ratio, such increase shall be retroactive to the date that Borrower was obligated to deliver such financial reports to Agent pursuant to the terms
of this Agreement and provided further, however, that if the Commitment Fee Percentage is decreased as a result of the reported Debt to Capitalization Ratio, and such financial reports are delivered to Agent not more than ten (10) calendar days
after the date required to be delivered pursuant to the terms of this Agreement, such decrease shall be retroactive to the date that Borrower was obligated to deliver such financial reports to Agent pursuant to the terms of this Agreement) and
provided further, however, that if the Borrower consummates an acquisition of another Person or substantially all the assets of another Person, then the Commitment Fee Percentage, commencing on the effective date of such acquisition and continuing
through and including the date of Agent’s receipt of the next Quarterly Financial Statements and Compliance Certificate required by Sections 7.2(b) and
 7.2(c), shall be based on the pro forma Debt to Capitalization Ratio
calculated after giving effect to such acquisition: 
  

				
	 Debt to Capitalization Ratio
	  	Commitment
Fee
Percentage	 
	 Greater than or equal to 40%
	  	0.175	%
	 Greater than or equal to 20% but less than 40%
	  	0.15	%
	 Less than 20%
	  	0.125	%

 (c) The definition of “Margin Percentage” set forth in Section 1.1 of
the Agreement is hereby amended to read in its entirety as follows: 
 “Margin Percentage” means (i) on any day
prior to Agent’s receipt of the Quarterly Financial Statements and Compliance Certificate required by Sections 7.2(b) and 7.2(c) hereof for the fiscal quarter ending December 31, 2006, 0.00% with respect to Base Rate
Borrowings and 0.70% with respect to LIBOR Borrowings and (ii) on and after the date of delivery of such Quarterly Financial Statements and Compliance Certificate, the applicable per annum percentage set forth at the appropriate intersection in
the table shown below, based on the Debt to Capitalization Ratio as of the last day of the most recently ended fiscal quarter of Borrower calculated by Agent as soon as practicable after receipt by Agent of all financial reports required under this
Agreement 

  

 2 

 
with respect to such fiscal quarter (including a Compliance Certificate) (provided, however, that if the Margin Percentage is increased as a result of the
reported Debt to Capitalization Ratio, such increase shall be retroactive to the date that Borrower was obligated to deliver such financial reports to Agent pursuant to the terms of this Agreement and provided further, however, that if the Margin
Percentage is decreased as a result of the reported Debt to Capitalization Ratio, and such financial reports are delivered to Agent not more than ten (10) calendar days after the date required to be delivered pursuant to the terms of this
Agreement, such decrease shall be retroactive to the date that Borrower was obligated to deliver such financial reports to Agent pursuant to the terms of this Agreement) and provided further, however, that if the Borrower consummates an acquisition
of another Person or substantially all the assets of another Person, then the Margin Percentage, commencing on the effective date of such acquisition and continuing through and including the date of Agent’s receipt of the next Quarterly
Financial Statements and Compliance Certificate required by Sections 7.2(b) and 7.2(c), shall be based on the pro forma Debt to Capitalization Ratio calculated after giving effect to such acquisition: 
  

							
	 Debt to Capitalization Ratio
	  	LIBOR
Borrowings
Margin
Percentage	 	 	Base Rate
Borrowings
Margin
Percentage	 
	 Greater than or equal to 50%
	  	1.25	%	 	0.00	%
	 Greater than or equal to 40% but less than 50%
	  	1.00	%	 	0.00	%
	 Greater than or equal to 30% but less than 40%
	  	0.85	%	 	0.00	%
	 Greater than or equal to 20% but less than 30%
	  	0.70	%	 	0.00	%
	 Less than 20%
	  	0.50	%	 	0.00	%

 (d) A new definition of “Material Domestic Subsidiary” is hereby added to
Section 1.1 of the Agreement, such new definition to read in its entirety as follows: 
 “Material Domestic
Subsidiary” means any Restricted Subsidiary which is organized or incorporated under the laws of the United States of America, any state thereof or the District of Columbia whose (a) attributable share of Consolidated EBITDA for the four
quarter period ending on the last day of the most recently ended fiscal quarter is greater than 5% or (b) attributable share of the book value of total assets of Borrower and its Restricted Subsidiaries, determined on a consolidated basis as of
the last day of the most recently ended fiscal quarter, is greater than 5%. 
  

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 (e) The definition of “Maturity Date” set forth in Section 1.1 of the
Agreement is hereby amended to read in its entirety as follows: 
 “Maturity Date” means January 22, 2012. Upon
written request from the Borrower at any time prior to the then current Maturity Date, the Administrative Agent shall make request on the Lenders for approval to a one (1) year extension of the then current Maturity Date and upon such approval
the Administrative Agent, Borrower and Lenders shall enter into an appropriate amendment of this Agreement to extend the then current Maturity Date for such one (1) year period; provided, however, that (i) no more than two (2) such
extensions may be requested by the Borrower and the Maturity Date may not be extended beyond January 22, 2014, (ii) no such extension shall be effective without the written consent of the Majority Lenders, which may be given or denied in
their sole discretion, with or without cause, and (iii) the Obligations payable to any Lender which does not consent in writing to such extension shall be paid in full (and the Commitment of such non-consenting Lender shall be terminated) as a
condition precedent to any such extension, with the Borrower to have the right to replace such non-consenting Lender subject to the conditions set forth in Section 11.6 of the Agreement regarding assignments by Lenders. 
 (f) The definition of “Swing Line Sublimit” set forth in Section 1.1 of the Agreement is hereby amended to read in its
entirety as follows: 
 “Swing Line Sublimit” means an amount equal to the lesser of (a) $25,000,000 and
(b) the Aggregate Commitments. The Swing Line Sublimit is part of, and not in addition to, the Aggregate Commitments. 
 (g) The
definitions of “Facility Fee Percentage” and “Utilization Fee Percentage” set forth in Section 1.1 of the Agreement are hereby deleted. 
 (h) Section 2.5 of the Agreement is hereby amended to read in its entirety as follows: 
 Section 2.5 Fees. Borrower shall pay to Agent for the account of each Lender in accordance with its Commitment Percentage, a
commitment fee equal to the Commitment Fee Percentage times the excess of (x) actual daily amount of the Aggregate Commitments over (y) the sum of, without duplication, (i) the aggregate unpaid principal balance of such Lender’s
Revolving Loans (exclusive of any Swing Line Loans) and L/C Obligations on such day. Such commitment fees shall be computed (on the basis of the actual number of days elapsed in a year composed of 365 or 366 days, as the case may be) on each day.
The commitment fee shall be due and payable in arrears on the Quarterly Dates prior to the Maturity Date and on the Maturity Date (and, if applicable, thereafter on demand). All past due fees payable under this Section shall bear interest at the
Past Due Rate. 
  

 4 

 (i) The reference to “$300,000,000” in Section 2.9(a) of the Agreement is hereby
amended to read “$450,000,000”. 
 (j) The reference to “facility and utilization fees” in Section 4.2(c) of
the Agreement is hereby amended to read “commitment fees”. 
 (k) The references to “December 31, 2002” in
Section 6.2 of the Agreement are hereby amended to read “December 31, 2005” and the reference to “September 30, 2003” in Section 6.2 of the Agreement are hereby amended to read “September 30,
2006”. Clause (iii) of Section 6.2 is hereby deleted in its entirety. 
 (l) Section 7.3 of the
Agreement is hereby amended to read in its entirety as follows: 
 Section 7.3 Financial Tests. Have and
maintain: 
 (a) Debt to Capitalization Ratio—a Debt to Capitalization Ratio of not greater than the percentage set forth
in the table below for the applicable fiscal quarter set forth in the table below: 
  

				
	 Fiscal Quarters Ending
	  	Applicable
Percentage	 
	 March 31, 2007 through and including September 30, 2008
	  	55	%
	 December 31, 2008 and at all times thereafter
	  	50	%

 (b) Interest Coverage Ratio—an Interest Coverage Ratio of not less than 3.00
to 1.00 at all times. 
 (m) A new Section 7.11 is hereby added to the Agreement, such new Section to read in its entirety as
follows: 
 Section 7.11 Guaranty of Obligations by Material Domestic Subsidiaries. 
 (a) In the event that no later than the date that any Compliance Certificate is required to be delivered pursuant to
Section 7.2(c), the Borrower determines that any of its Subsidiaries is a Material Domestic Subsidiary and has not guaranteed the Obligations pursuant to this Section 7.11(a), the Borrower shall promptly, but in any event
within thirty (30) days thereafter, notify the Administrative Agent in writing thereof. The Borrower will, promptly after request by the Administrative Agent (but in any event within thirty (30) days after such request) made from time to
time, cause all of its Material Domestic Subsidiaries to guarantee the Obligations pursuant to a guaranty in form and substance reasonably satisfactory to the Administrative Agent (to the extent such 

  

 5 

 
Material Domestic Subsidiaries are not already subject to such a guaranty); provided, however, that the aggregate amount of the Obligations guaranteed
pursuant to guaranties executed by Material Domestic Subsidiaries shall be capped at seven and one-half percent (7-1/2%) of Consolidated Adjusted Net Worth. 
 (b) The guarantees made under Section 7.11(a) shall terminate when (i) all the Obligations have been performed or paid in
full and (ii) the Lenders have no further commitments under the Credit Agreement and the L/C Obligations have been reduced to zero. In the event of (i) a guarantor of the Obligations is no longer a Material Domestic Subsidiary or
(ii) a dissolution, sale or other disposition (including by way of merger or consolidation) of all or substantially all of the assets or all of the capital stock or other equity of any guarantor of the Obligations occurs and such sale or
disposition is permitted by this Agreement (or permitted pursuant to a waiver, amendment, modification of or consent to a transaction otherwise prohibited by any of such agreements), then, so long as no Event of Default has occurred which is
continuing, the Administrative Agent shall, upon written request by such guarantor, release such guarantor from its liabilities and obligations under the applicable guaranty pursuant to such documentation as Borrower may reasonably require. Except
as provided in the foregoing provisions of this Section 7.11(b), any release of a Material Domestic Subsidiary from its liabilities under a guaranty made under Section 7.11(a) shall require approval by all of the Lenders
(notwithstanding anything to the contrary set forth in Section 11.5 hereof). 
 (n) The references to “(other than such
Indebtedness permitted pursuant to Section 8.1(a)(ii))” in each of Sections 8.2(a)(ii), 8.2(a)(iii) and 8.2(b)(ii) of the Agreement are hereby amended to read “(other than such Indebtedness permitted
pursuant to Section 8.1(a)(ii) and other than such Indebtedness owing by Borrower to a Material Domestic Subsidiary)”. 
 (o) Section 8.4 of the Agreement is hereby amended to read in its entirety as follows: 
 Section 8.4 Dividends, Stock Purchases and Restricted Investments. Borrower will not authorize or make a Distribution on its capital stock and neither Borrower nor any of its Restricted Subsidiaries will make any Restricted
Investment if after giving effect to the proposed Distribution or Restricted Investment a Default or an Event of Default would exist. Borrower will not authorize a Distribution on its capital stock which is not payable within 60 days of
authorization. Borrower may make any Distribution within 60 days after the declaration thereof if at the time of declaration such Distribution would have complied with this Section. 
 (p) The reference to “$5,000,000” in Section 11.6(b) of the Agreement is hereby amended to read “$10,000,000”, clause
(iii) of Section 11.6(b) of the Agreement is hereby amended to read in its entirety as follows: 
  

 6 

 (iii) except in the case of an assignment to a Lender or an Affiliate of a Lender or an
Approved Fund with respect to a Lender, any assignment of a Commitment must be approved by the Agent and, unless an Event of Default has occurred and is continuing, the Borrower (each such approval not to be unreasonably withheld or delayed; and

 and the penultimate sentence of Section 11.6 of the Agreement is hereby amended to read in its entirety as follows: 
 Subject to acceptance and recording thereof by the Agent pursuant to paragraph (c) of this Section, from and after the
“Effective Date” specified in each Assignment and Acceptance, the Eligible Assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such Assignment and Acceptance, have the rights and
obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, except for any assigning Lender assigning to an Affiliate or an Approved Fund for which (so long as no Event of Default shall have occurred or is continuing)
the Borrower shall not have consented, to the extent of the interest assigned by such Assignment and Acceptance, be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all of the assigning
Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto) but shall continue to be entitled to the benefits of Sections 3.3(c)(ii), 3.3(c)(iv), 11.4 and 4.1(f) with respect
to facts and circumstances occurring prior to the effective date of such assignment. 
 (q) The “Commitments” of the respective
Lenders are hereby amended to equal the amount set forth opposite such Lenders name below: 
  

				
	 Lender
	  	Commitment
	 Wells Fargo Bank, N.A.
	  	$	63,000,000
	 DnB NOR Bank ASA
	  	$	54,000,000
	 HSBC Bank USA, National Association
	  	$	42,000,000
	 JPMorgan Chase Bank, N.A.
	  	$	42,000,000
	 The Bank of Tokyo- Mitsubishi UFJ, Ltd.
	  	$	36,000,000
	 Comerica Bank
	  	$	21,000,000
	 Amegy Bank, National Association
	  	$	21,000,000
	 Citibank, N.A.
	  	$	21,000,000

 (r) The references to “$250,000,000” on the cover page of the Agreement and page 1 of
the Agreement are hereby amended to read “$300,000,000” and the references to “$300,000,000” on the cover page of the Agreement and page 1 of the Agreement are hereby amended to read “$450,000,000”. The reference to
“COMERICA BANK, as Syndication 

  

 7 

 
Agent” in the title page of the Credit Agreement and in the introductory paragraph of the Credit Agreement is hereby amended to read “DnB NOR BANK
ASA, as Syndication Agent”. The reference to “HSBC BANK USA, NATIONAL ASSOCIATION, as Documentation Agent” in the title page of the Credit Agreement and in the introductory paragraph of the Credit Agreement is hereby amended to read
“HSBC BANK USA, NATIONAL ASSOCIATION, JPMORGAN CHASE BANK, N.A. and THE BANK OF TOKYO- MITSUBISHI, LTD., as Documentation Agents”. 
 (s) The following references to “the Effective Date” are each amended to read “January 22, 2007”: 
 (i) Clause (h) of the definition of “Consolidated Net Income” set forth in Section 1.1 of the Agreement. 
 (ii) The definition of “Regulatory Change” set forth in Section 1.1 of the Agreement. 
 (iii) Section 2.3(a)(ii) of the Agreement (two references). 
 (iv)
Section 3.3(c)(i) of the Agreement (three references). 
 (v) Section 3.3(c)(ii) of the Agreement
(three references). 
 SECTION 2. Conditions. This Amendment shall not become effective until (a) the Administrative Agent (or
its counsel) has received from the Borrower and all of the Lenders either (1) a counterpart of this Amendment signed on behalf of such party or (2) written evidence satisfactory to the Administrative Agent (which may include telecopy or
e-mail transmission of a signed signature page of this Amendment) that such party has signed counterparts of this Amendment; (b) the Borrower has executed and delivered to the Administrative Agent for each Lender a new Note in the maximum
principal amount of such Lender’s Commitment and substantially in the form of Exhibit C to the Agreement, (c) the Administrative Agent shall have received such documents and certificates as the Administrative Agent or its counsel
may reasonably request relating to the organization, existence and good standing of the Borrower, the authorization of the execution, delivery and performance of this Amendment and the new Notes by the Borrower and any other legal matters relating
to this Amendment, and (d) Borrower shall have paid to Administrative Agent and Lenders all unpaid fees in the amounts previously agreed upon in writing among Borrower and Administrative Agent and Lenders. The Administrative Agent shall give,
or cause to be given, prompt notice to the Borrower and the Lenders as to whether the conditions specified in the immediately preceding sentence have been satisfied by the deadline set forth therein; such notice may be oral, telephonic, written
(including telecopied) or by e-mail. 
 SECTION 3. Ratification. Except as expressly amended by this Amendment, the Agreement and the
other Loan Documents shall remain in full force and effect. None of the 

  

 8 

 
rights, title and interests existing and to exist under the Agreement are hereby released, diminished or impaired, and the Borrower hereby reaffirms all
covenants, representations and warranties in the Agreement. 
 SECTION 4. Expenses. The Borrower shall pay to the Administrative Agent
all reasonable fees and expenses of its legal counsel incurred in connection with the execution of this Amendment. 
 SECTION 5.
Certifications. The Borrower hereby certifies that (a) no material adverse change in the assets, liabilities, financial condition or business of the Borrower has occurred since December 31, 2005 and (b) subject to the waiver
set forth herein, no Default or Event of Default has occurred and is continuing or will occur as a result of this Amendment. 
 SECTION 6.
Miscellaneous. This Amendment (a) shall be binding upon and inure to the benefit of the Borrower, the Lenders and the Administrative Agent and their respective successors, assigns, receivers and trustees; (b) may be modified or
amended only by a writing signed by the required parties; (c) shall be governed by and construed in accordance with the laws of the State of Texas and the United States of America; (d) may be executed in several counterparts by the parties
hereto on separate counterparts, and each counterpart, when so executed and delivered, shall constitute an original agreement, and all such separate counterparts shall constitute but one and the same agreement and (e) together with the other
Loan Documents, embodies the entire agreement and understanding between the parties with respect to the subject matter hereof and supersedes all prior agreements, consents and understandings relating to such subject matter. The headings herein shall
be accorded no significance in interpreting this Amendment. 
 NOTICE PURSUANT TO TEX. BUS. & COMM. CODE §26.02

 THE AGREEMENT, AS AMENDED BY THIS AMENDMENT, AND ALL OTHER LOAN DOCUMENTS EXECUTED BY ANY OF THE PARTIES PRIOR HERETO OR
SUBSTANTIALLY CONCURRENTLY HEREWITH CONSTITUTE A WRITTEN LOAN AGREEMENT WHICH REPRESENTS THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE
ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES. 
  

 9 

 IN WITNESS WHEREOF, the Borrower, the Lenders and the Administrative Agent have caused this Amendment to
be signed by their respective duly authorized officers, effective as of the date first above written. 
  

			
	 OCEANEERING INTERNATIONAL, INC.,
 a Delaware
corporation

		
	By:	 	/S/ ROBERT P. MINGOIA
		 	 Robert P. Mingoia,
 Vice President and
Treasurer

  

 10 

			
	 WELLS FARGO BANK, N.A., Individually
 and as
Administrative Agent

		
	By:	 	/S/ PHILIP C. LAUINGER III
	Name:	 	Philip C. Lauinger III
	Title:	 	Vice President

  

 11 

			
	DNB NOR BANK ASA
		
	By:	 	/S/ PHILIP F. KURPIEWSKI
	Name:	 	Philip F. Kurpiewski
	Title:	 	Senior Vice President

			
		
	By:	 	/S/ SANJIV NAYAR
	Name:	 	Sanjiv Nayar
	Title:	 	Senior Vice President

  

 12 

					
	HSBC BANK USA, NATIONAL ASSOCIATION	 	
			
		 	By:	 	/S/ MERCEDES AHUMADA
		 	Name:	 	Mercedes Ahumada
		 	Title:	 	Assistant Vice President

  

 13 

			
	JPMORGAN CHASE BANK, N.A.
		
	By:	 	/S/ KERRY G. HARPOLE
	Name:	 	Kerry G. Harpole
	Title:	 	Vice President

  

 14 

			
	THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.
		
	By:	 	/S/ JOHN McGHEE
	Name:	 	John McGhee
	Title:	 	Vice President & Manager

  

 15 

			
	COMERICA BANK
		
	By:	 	/S/ S. JOHN CASTELLANO
	Name:	 	S. John Castellano
	Title:	 	Senior Vice President

  

 16 

			
	AMEGY BANK, NATIONAL ASSOCIATION
		
	By:	 	/S/ SCOTT COLLINS
	Name:	 	Scott Collins
	Title:	 	Vice President

  

 17 

			
	CITIBANK, N.A.
		
	By:	 	/S/ CLINTON GERST
	Name:	 	Clinton Gerst
	Title:	 	Attorney-in-Fact

  

 18

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