Document:

Document

Exhibit 10.1

[Insperity Letterhead]

February 25, 2021
Mr. Jay Mincks
80 Ridge Lane
Coldspring, TX 77331

Re:  Consulting Services
Dear Jay:
This letter agreement (this “Agreement”) confirms your engagement as a consultant for Insperity, Inc. (“Insperity”), effective as of September 2, 2021 (the “Effective Date”), following your retirement from Insperity on September 1, 2021 (“Retirement Date”), subject to the terms and conditions of this Agreement. 
1.    Term. Your Consulting Services (as defined below) for Insperity shall commence as of the Effective Date and continue until September 2, 2024, subject to extensions as mutually agreed to by you and Insperity (the “Term”). Your Consulting Services shall terminate as of the last day of the Term (the “Expiration Date”).  The foregoing notwithstanding, on or after the eighteen-month anniversary of the Effective Date but prior to the end of the Term, either party may terminate this Agreement by providing at least 180 days written notice of termination of the Agreement to the other party.
2.    Services. During the Term, you will report directly to the Chief Executive Officer of Insperity (the “CEO”) and will be reasonably available to provide advisory services to the CEO or such other management personnel of Insperity (and its subsidiaries) as the CEO may direct (“Insperity Management”) with respect to the sales and marketing strategy and operations of Insperity, including assisting with the transition of your prior responsibilities and advising Insperity Management regarding sales and marketing matters, and such other related services as the CEO  may reasonably request from time to time (the “Consulting Services”). The parties agree that in no event will you provide Consulting Services under this Agreement at a level that exceeds twenty percent (20%) of the average level of bona fide services performed by you as an employee of Insperity for the thirty-six (36) month period preceding your Retirement Date.  
3.    Consulting Fee and Expenses. 
(a)    Insperity will pay you (or an entity designated by you for which Insperity has received appropriate tax documentation) a monthly consulting fee of $20,000.00 (the “Fee”) during the Term.  The Fee shall be paid to you no later than the tenth (10th) business day after the end of a full calendar month during the Term.  If the 

first month and/or last month of the Term are less than a full calendar month, then the Fee for such partial month shall be pro-rated based on the number of days you provide Consulting Services during such month.  
(b)    Notwithstanding anything to the contrary in this Agreement, in the event your Consulting Services pursuant to this Agreement terminate by reason of your death prior to the end of the original three (3)-year Term, then the Fees you would have been paid had you continued to provide the Consulting Services through the end of the original Term will be paid in a lump sum payment to your spouse. If you are not married on such service termination date, then to the Company will only be obligated to pay for Consulting Services performed through your date of death.
(c)    During the Term, you shall not be eligible for reimbursement of business expenses unless preapproved in writing by the Company.
4.    Independent Contractor Relationship.  You are an independent contractor with respect to your performance of the Consulting Services and any or all other services provided under this Agreement. Insperity will not direct or exercise control over the manner or means by which the Consulting Services are provided. You will have the right to devote your business day and working efforts to other business and professional opportunities that do not interfere with the rendering of services to Insperity or compliance with the covenants in Section 9.  You are not and shall not be deemed for any purpose to be an employee, agent, servant or representative of Insperity.  You shall not be and are not entitled to participate in any employee benefit or compensation plans or programs of Insperity, or receive any other benefits provided to Insperity employees.
5.    No Tax Withholding.  Because you are acting in the capacity of an independent contractor, Insperity will not withhold from payments to be made to you any sums for income tax, unemployment insurance, social security, or any other tax or withholding. You specifically agree that the determination of any tax liability or other consequences of any payment made hereunder is your sole and complete responsibility, and that you will pay all taxes, if any, assessed on such payments under the applicable laws of any federal, state, local or other jurisdiction. 
6.    Section 409A.  Payments under this Agreement are designed to be made in a manner that is exempt from or compliant with Section 409A of the Internal Revenue Code of 1986, and the provisions of this Agreement will be administered, interpreted and construed accordingly.  Notwithstanding the foregoing, Insperity shall not have any liability to you with respect to Section 409A and the provisions of this Agreement will be administered, interpreted and construed accordingly (or disregarded to the extent such provision cannot be so administered, interpreted, or construed).  All expenses eligible for reimbursement under any plan, policy or agreement shall be paid to you promptly, but in 

any event by no later than December 31st of the calendar year following the calendar year in which such expenses were incurred.
7.    Confidential Treatment. You acknowledge and agree that you have acquired, and will in the future acquire as a result of the Consulting Services or otherwise, Proprietary Information of Insperity which is of a confidential or trade secret nature, and all of which has a great value to Insperity and is a substantial basis and foundation upon which Insperity’s business is predicated. Accordingly, other than in the legitimate performance of the Consulting Services, you agree:
(i)    to regard and preserve as confidential at all times all Proprietary Information; 
(ii)    to refrain from publishing or disclosing any part of the Proprietary Information and from using, copying or duplicating it in any way by any means whatsoever; and 
(iii)    not to use on your own behalf or on behalf of any third party or to disclose the Proprietary Information to any person or entity without the prior written consent of Insperity. 
For purposes of this Agreement, “Propriety Information” includes all confidential or proprietary scientific or technical information, data, formulas and related concepts, business plans (both current and under development), client lists, promotion and marketing programs, trade secrets, or any other confidential or proprietary business information relating to the business of Insperity, whether in written or electronic form of writings, correspondence, notes, drafts, records, maps, invoices, technical and business logs, policies, computer programs, disks or otherwise.  Proprietary Information does not include information that is or becomes publicly known through lawful means. 
8.    Property of Insperity. You acknowledge that all Proprietary Information (as defined above in Section 7) and other property of Insperity which you accumulate during your performance of the Consulting Services are the exclusive property of Insperity.  Upon the expiration of the Term or earlier termination of this Agreement, or at any time upon Insperity’s request, you shall surrender and deliver to Insperity (and not keep, recreate or furnish to any third party) any and all work papers, reports, manuals, documents and the like (including all originals and copies thereof) in your possession which contain Proprietary Information relating to the business, prospects or plans of Insperity.  Further, you agree to search for and delete all Insperity information, including Proprietary Information, from your computer, smartphone, tablet, or any other personal electronic storage devices, other than payroll information or other financial information that you may need for your tax filings, and, upon request, certify to Insperity that you have completed this search and deletion process.
9.    Non-Competition; Non-Solicitation. 

(a)    You and Insperity agree to the non-competition and non-solicitation provisions of this Section 9:  (i) in consideration for access to the Proprietary Information (as defined above in Section 7) provided by Insperity to you; and (ii) to protect the Proprietary Information of Insperity disclosed or entrusted to you by Insperity or created or developed by you for Insperity, the business goodwill of Insperity developed through your efforts and the business opportunities disclosed or entrusted to you by Insperity.
(b)    Subject to the exceptions set forth in Section 9(c), you expressly covenant and agree that, during the Non-Compete Period:  (i) you will refrain from carrying on or engaging in, directly or indirectly, any Competing Business in the Restricted Area; and (ii) you will not, directly or indirectly, own, manage, operate, join, become an employee, partner, owner or member of (or an independent contractor to), control or participate in or loan money to, sell or lease equipment to or sell or lease real property to any person or entity that engages in a Competing Business in the Restricted Area.
(c)    Notwithstanding the restrictions contained in Section 9(b), you may own an aggregate of not more than 1% of the outstanding capital stock or other equity security of any class of any corporation or other entity engaged in a Competing Business, if such capital stock or other equity security is listed on a national securities exchange or regularly traded in the over-the-counter market by a member of a national securities exchange, without violating the provisions of Section 9(b) above, provided that you do not have the power, directly or indirectly, to control or direct the management or affairs of any such corporation or other entity and are not involved in the management of such corporation or entity.
(d)    You further expressly covenant and agrees that, during the Non-Solicit Period, you will not:  (i) engage or employ, or solicit or contact with a view to the engagement or employment of, any person who is an officer or employee of Insperity; or (ii) canvass, solicit, approach or entice away or cause to be canvassed, solicited, approached or enticed away from Insperity any person who or which is or was a customer of the Insperity, during the Term or the two years prior to the Effective Date, and either (x) about which you received Proprietary Information or (y) with which you had contact or dealings on behalf of Insperity.
(e)    You expressly recognize that you will be provided with access to Proprietary Information and trade secrets as part of your performance of the Consulting Services and that the restrictive covenants set forth in this Agreement are reasonable and necessary in light of your role and access to the Proprietary Information.
As used in this Agreement, the following terms shall have the following meanings: 

“Business” means the professional employer organization (PEO) business or any other business in which Insperity is engaged during the Term or in which Insperity has taken material steps to engage during the prior two years of your service pursuant to this Agreement.
“Competing Business” means any person or entity that, wholly or in any significant part, engages in any business competing with the Business in the Restricted Area, including without limitation, Automatic Data Processing, Inc., Paychex, Inc., TriNet Group, Inc., each of their subsidiaries.
“Non-Compete Period” means (i) the Term and (ii) during the twenty-four (24) month period following termination of the Consulting Services pursuant to this Agreement.
“Non-Solicit Period” means (i) the Term and (ii) during the twenty-four (24) month period following termination of the Consulting Services pursuant to this Agreement.
“Restricted Area” means any state in which Insperity (i) is then currently engaged in the Business, (ii) has engaged in the Business during the prior two years of your service pursuant to this Agreement, or (iii) is actively pursuing business opportunities for the Business, and in each such case you either (x) received Proprietary Information about Insperity’s operations in such location or (y) worked in such location during the prior two years of your service pursuant to this Agreement.
10.    Miscellaneous.
(a)    Waiver or Modification. Any waiver by either party of a breach of any provision of this Agreement shall not operate as, or to be, construed to be a waiver of any other breach of such provision of this Agreement. The failure of a party to insist upon strict adherence to any term of this Agreement on one or more occasions shall not be considered a waiver or deprive that party of the right thereafter to insist upon strict adherence to that term or any other term of this Agreement. Neither this Agreement nor any part of it may be waived, changed or terminated orally, and any waiver, amendment or modification must be in writing and signed by each of the parties. 
(b)    Successors and Assigns. The rights and obligations of Insperity under this Agreement shall be binding on and inure to the benefit of Insperity, its successors and permitted assigns. Your rights and obligations under this Agreement shall be binding on and inure to the benefit you and your heirs and legal representatives. Insperity may assign this Agreement to a successor in interest, including the purchaser of all or substantially all of the assets of Insperity, provided that Insperity shall remain liable hereunder unless the assignee purchased all or substantially all of the assets of Insperity. You may not assign any of your duties under this Agreement. 

(c)    Relief. You agree and acknowledge that the limitations as to time, geographical area and scope of activity to be restrained as set forth in Section 9 are reasonable and do not impose any greater restraint than is necessary to protect the legitimate business interests of Insperity. You also acknowledge that money damages would not be sufficient remedy for any breach of Sections 7 or 9 by you, and Insperity shall be entitled to enforce the provisions of Sections 7 or 9 by terminating any outstanding restricted stock unit or long-term incentive program awards, or other amounts then owing to you, taking action to recoup any such payments made since your Retirement Date, and to specific performance and injunctive relief as remedies for such breach or any threatened breach.  Such remedies shall not be deemed the exclusive remedies for a breach of Section 7 or 9 but shall be in addition to all remedies available at law or in equity, including the recovery of damages from you and your agents.  However, if it is determined that you have not committed a breach of Section 7 or 9, then the Company shall pay you all payments and that had been suspended pending such determination.
(d)    Reasonableness; Enforcement.  You acknowledge and agree that the geographic scope and duration of the covenants contained in Section 9 are fair and reasonable in light of:  (a) the nature and wide geographic scope of the operations of the Business; (b) your contact with the Business in all jurisdictions in which it is conducted; (c) the fact that the Business is conducted throughout the Restricted Area; and (d) the amount of compensation and Proprietary Information that you are receiving in connection with the performance of such Consulting Services. It is the desire and intent of you and Insperity that the provisions of Section 9 be enforced to the fullest extent legally permitted, whether now or hereafter in effect and, therefore, to the extent permitted by applicable law, you and Insperity hereby waive the application of any provision of applicable law that would render any provision of Section 9 invalid or unenforceable, in whole or in part.
(e)    Counterparts. This Agreement may be executed in any number of counterparts, each of which shall, when executed, be deemed to be an original and all of which shall be deemed to be one and the same instrument; and all signatures need not appear on any one counterpart. 
(f)    Governing Law; Dispute Resolution. This Agreement will be governed in all respects, including as to validity, interpretation and effect, by the internal laws of the State of Texas, without regard to any choice of law principles that would result in the application of the laws of another jurisdiction, except to the extent preempted by U.S. federal law.  If any dispute arises with respect to any action, suit or other legal proceeding pertaining to this Agreement or to the interpretation of or enforcement of your rights under this Agreement, you and Insperity agree 

that exclusive jurisdiction for any such suit, action or legal proceeding is the federal or state courts situated in Houston, Harris County, Texas.
(g)    Severability. Any term or provision of this Agreement which is determined to be invalid or unenforceable by any court of competent jurisdiction in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity or unenforceability without rendering invalid or unenforceable the remaining terms and provisions of this Agreement or affecting the validity or enforceability of any of the terms or provisions of this Agreement in any other jurisdiction and such invalid or unenforceable provision shall be modified by such court so that it is enforceable to the extent permitted by applicable law. 
(h)    Notices.  Any notice, request, consent or approval required or permitted to be given under this Agreement or pursuant to law shall be sufficient if in writing, and if and when sent by certified or registered mail, with postage prepaid, to your residence (as noted in Insperity’s records), or to the attention of the CEO (with a copy to the General Counsel) at Insperity’s principal office, as the case may be.
(i)    No Third-Party Beneficiaries. This Agreement does not create, and shall not be construed as creating, any rights enforceable by any person not a party to this Agreement. 
(j)    Survival. The covenants, agreements, representations, and warranties contained in this Agreement shall survive the termination of the Term and your termination of service with Insperity for any reason
(k)    Entire Agreement. The terms of this Agreement when accepted and signed by you, represent the complete agreement and understanding between you and Insperity related to your Consulting Services. These terms supersede any and all other prior or contemporaneous oral or written agreements between you and Insperity with respect to your Consulting Services. You and Insperity acknowledge that no representations, inducements, promises or agreements, whether oral or written, express or implied, have been made to you by Insperity or anyone acting on behalf of Insperity that are not included in this Agreement and that no other agreement or promise not contained in this letter agreement shall be valid or binding on Insperity.

Please acknowledge your understanding of, and agree to, the terms of your engagement as a consultant of Insperity by signing below and forwarding a copy (which can be in PDF) to me. 

Sincerely,
Insperity, Inc.

/s/ Paul Sarvadi                
Paul Sarvadi
Chairman & CEO

Agreed to and Accepted By:

/s/ Jay Mincks                    
Jay MincksDocument

Exhibit 10.1

Execution Version

AMENDMENT NO. 2 TO CREDIT AGREEMENT
THIS AMENDMENT NO. 2 TO CREDIT AGREEMENT, dated as of February 26, 2021 (this “Amendment”), is entered into by and among BELLRING BRANDS, LLC, a Delaware limited liability company  (the “Borrower”), the Guarantors (as defined in the Existing Credit Agreement referred to below) party hereto, each Lender party hereto designated as a “2021 Refinancing Term Lender” on its signature page hereto (each, a “2021 Refinancing Term Lender” and, collectively, the “2021 Refinancing Term Lenders”), each Revolving Credit Lender (as defined in the Existing Credit Agreement referred to below) and Credit Suisse AG, Cayman Islands Branch, as Administrative Agent (in such capacity, the “Administrative Agent”).
RECITALS:
WHEREAS, the Borrower, the several Lenders from time to time party thereto and the Administrative Agent have entered into that certain Credit Agreement, dated as of October 21, 2019 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time and immediately prior to the Amendment No. 2 Effective Date (as defined below), the “Existing Credit Agreement” and, as amended by this Amendment, the “Amended Credit Agreement”);
WHEREAS, the Borrower requests that the 2021 Refinancing Term Lenders make Term Loans in an aggregate principal amount up to $636,200,000 on the Amendment No. 2 Effective Date (the “2021 Refinancing Term Loans”) in order to enable the Borrower to refinance all outstanding Term B Loans (the “Existing Term Loans”) under the Existing Credit Agreement and to pay accrued and unpaid interest (if any) and fees and expenses incurred in connection therewith;
WHEREAS, subject to the terms and conditions of the Amended Credit Agreement and pursuant to Section 2.17(d) thereof, and except as expressly otherwise set forth herein, immediately after giving effect to this Amendment, the 2021 Refinancing Term Loans shall have the same terms (other than the Applicable Rate and as otherwise set forth herein) as the Existing Term Loans, and such 2021 Refinancing Term Loans shall be “Term Loans” and “Term B Loans” for all purposes of and under the Amended Credit Agreement;
WHEREAS, each 2021 Refinancing Term Lender is willing to provide the amount of 2021 Refinancing Term Loans set forth opposite its name under the heading “2021 Refinancing Term Commitments” on Schedule I hereto (the “2021 Refinancing Term Commitments”) to the Borrower on the Amendment No. 2 Effective Date on the terms and subject to the conditions set forth herein and in the Amended Credit Agreement; and
WHEREAS, each existing Term Lender in respect of Term B Loans that executes and delivers a consent in the form of the Lender Consent attached to the Election Notice Memorandum posted to the Term Lenders as a Term Lender of Term B Loans will be deemed to have irrevocably agreed to the terms of this Amendment and the Amended Credit Agreement and the transactions contemplated herein and therein.
NOW, THEREFORE, in consideration of the premises and agreements, provisions and covenants herein contained, the parties hereto agree as follows:
1.Defined Terms; Interpretation; Etc.
Capitalized terms used and not defined herein shall have the meanings assigned to such terms in the Amended Credit Agreement. The rules of construction specified in Sections 1.02 through 1.10 of the Existing Credit Agreement also apply to this Amendment, mutatis mutandis, as if fully set forth herein.  Each reference to “hereof”, “hereunder”, “herein” and “hereby” and each other similar reference and each reference to “this Agreement” and each other similar reference contained in the Existing Credit Agreement or any other Loan Document shall, after this Amendment becomes effective, refer to the Amended Credit Agreement.

2.2021 Refinancing Term Loans.
(a)Each 2021 Refinancing Term Lender hereby agrees, severally and not jointly, to make 2021 Refinancing Term Loans in Dollars to the Borrower on the Amendment No. 2 Effective Date in an aggregate principal amount equal to its 2021 Refinancing Term Commitment, on the terms set forth herein and in the Amended Credit Agreement, and subject to the conditions set forth in Section 5 below.
(b)The 2021 Refinancing Term Commitments shall automatically terminate upon the funding of the 2021 Refinancing Term Loans on the Amendment No. 2 Effective Date.  
(c)From and after the Amendment No. 2 Effective Date, for all purposes of the Amended Credit Agreement and the other Loan Documents, (i) the 2021 Refinancing Term Loans (A) shall constitute “Refinancing Term Loans” as contemplated by Section 2.17 of the Amended Credit Agreement, (B) shall be deemed to be “Term Loans” and “Term B Loans” and (C) shall have the same terms as the Term B Loans (for the avoidance of doubt, the 2021 Refinancing Term Loans shall be treated as Term B Loans for purposes of the definition of “Applicable Rate” in the Amended Credit Agreement) and (ii) each 2021 Refinancing Term Lender shall be deemed to be a “Term Lender” and a “ Term B Lender” with outstanding “Term Loans” and “Term B Loans” under the Amended Credit Agreement.
(d)This Amendment constitutes notice by the Borrower to the Administrative Agent of prepayment of the Existing Term Loans in the amount equal to the aggregate principal amount of the 2021 Refinancing Term Loans on the Amendment No. 2 Effective Date, and the Administrative Agent hereby acknowledges receipt of such notice as of the Amendment No. 2 Effective Date; provided that such notice shall be automatically rescinded if the Amendment No. 2 Effective Date does not occur.
3.Amendments to Existing Credit Agreement.
Pursuant to Section 2.17(d) and Section 10.01 of the Existing Credit Agreement and subject to the satisfaction of the conditions precedent set forth in Section 5 below, the Existing Credit Agreement is hereby amended as follows:
(i)Section 1.01 of the Existing Credit Agreement is hereby amended by adding each of the following defined terms in appropriate alphabetical order:
“2021 Refinancing Term Loans” means the 2021 Refinancing Term Loans (as defined in the Recitals to Amendment No. 2) incurred in accordance with, and pursuant to, Amendment No. 2.
“Affected Financial Institution” means (a) any EEA Financial Institution or (b) any UK Financial Institution.
“Agreed Currency” means U.S. Dollars and Alternative Currencies.
“Amendment No. 2” means Amendment No. 2 to Credit Agreement, dated as of February 26, 2021, among the Borrower, the Subsidiary Guarantors listed on the signature pages thereto, the Administrative Agent and the Lenders party thereto.

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“Amendment No. 2 Effective Date” means the date on which all of the conditions precedent in Section 5 of Amendment No. 2 are satisfied or waived, which date is February 26, 2021.
“Available Tenor” means, as of any date of determination and with respect to the then-current Benchmark, as applicable, any tenor for such Benchmark or payment period for interest calculated with reference to such Benchmark, as applicable, that is or may be used for determining the length of an Interest Period pursuant to this Agreement as of such date and not including, for the avoidance of doubt, any tenor for such Benchmark that is then-removed from the definition of “Interest Period” pursuant to clause (d) of Section 3.08.
“Benchmark” means, initially, the LIBO Rate; provided that if a Benchmark Transition Event, a Term SOFR Transition Event or an Early Opt-in Election, as applicable, and its related Benchmark Replacement Date have occurred with respect to the LIBO Rate or the then-current Benchmark, then “Benchmark” means the applicable Benchmark Replacement to the extent that such Benchmark Replacement has replaced such prior benchmark rate pursuant to clause (a) of Section 3.08.
“Corresponding Tenor” with respect to any Available Tenor means, as applicable, either a tenor (including overnight) or an interest payment period having approximately the same length (disregarding business day adjustment) as such Available Tenor. 
“Daily Simple SOFR” means, for any day, SOFR, with the conventions for this rate (which will include a lookback) being established by the Administrative Agent in accordance with the conventions for this rate selected or recommended by the Relevant Governmental Body for determining “Daily Simple SOFR” for syndicated business loans; provided, that if the Administrative Agent decides that any such convention is not administratively feasible for the Administrative Agent, then the Administrative Agent may establish another convention in its reasonable discretion. 
 “Floor” means the benchmark rate floor, if any, provided in this Agreement initially (as of the execution of this Agreement, the modification, amendment or renewal of this Agreement or otherwise) with respect to the Eurodollar Rate. 
“ISDA Definitions” means the 2006 ISDA Definitions published by the International Swaps and Derivatives Association, Inc. or any successor thereto, as amended or supplemented from time to time, or any successor definitional booklet for interest rate derivatives published from time to time by the International Swaps and Derivatives Association, Inc. or such successor thereto. 
“Reference Time” with respect to any setting of the then-current Benchmark means (i) if such Benchmark is the LIBO Rate, 11:00 a.m. (London time) on the day that is two London banking days preceding the date of such setting, and (ii) if such Benchmark is not the LIBO Rate, the time determined by the Administrative Agent in its reasonable discretion. 

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“Repricing Event” has the meaning specified in Section 2.05(b)(ix).  
“Resolution Authority” means an EEA Resolution Authority or, with respect to any UK Financial Institution, a UK Resolution Authority.
“SOFR Administrator” means the Federal Reserve Bank of New York (or a successor administrator of the secured overnight financing rate). 
“SOFR Administrator’s Website” means the website of the Federal Reserve Bank of New York, currently at http://www.newyorkfed.org, or any successor source for the secured overnight financing rate identified as such by the SOFR Administrator from time to time. 
“Term SOFR Notice” means a notification by the Administrative Agent to the Lenders and the Borrower of the occurrence of a Term SOFR Transition Event.
“Term SOFR Transition Event” means the determination by the Administrative Agent that (i) Term SOFR has been recommended for use by the Relevant Governmental Body, (ii) the administration of Term SOFR is administratively feasible for the Administrative Agent and (iii) a Benchmark Transition Event or an Early Opt-in Election, as applicable, has previously occurred resulting in a Benchmark Replacement in accordance with Section 3.08 that is not Term SOFR.
“UK Financial Institution” means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended form time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms.
“UK Resolution Authority” means the Bank of England or any other public administrative authority having responsibility for the resolution of any UK Financial Institution.
(ii)The defined term “Bail-In Action” in Section 1.01 of the Existing Credit Agreement is hereby amended and restated in its entirety to read as follows:
“Bail-In Action” means the exercise of any Write-Down and Conversion Powers by the applicable Resolution Authority in respect of any liability of an Affected Financial Institution.
(iii)The defined term “Bail-In Legislation” in Section 1.01 of the Existing Credit Agreement is hereby amended and restated in its entirety to read as follows:

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“Bail-In Legislation” means, (a) with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law, regulation rule or requirement for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule. and (b) with respect to the United Kingdom, Part I of the United Kingdom Banking Act 2009 (as amended from time to time) and any other law, regulation or rule applicable in the United Kingdom relating to the resolution of unsound or failing banks, investment firms or other financial institutions or their affiliates (other than through liquidation, administration or other insolvency proceedings).
(iv)The defined term “Write-Down and Conversion Powers” in Section 1.01 of the Existing Credit Agreement is hereby amended and restated in its entirety to read as follows:
“Write-Down and Conversion Powers” means, (a) with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule. and (b) with respect to the United Kingdom, any powers of the applicable Resolution Authority under the Bail-In Legislation to cancel, reduce, modify or change the form of a liability of any UK Financial Institution or any contract or instrument under which that liability arises, to convert all or part of that liability into shares, securities or obligations of that person or any other person, to provide that any such contract or instrument is to have effect as if a right had been exercised under it or to suspend any obligation in respect of that liability or any of the powers under that Bail-In Legislation that are related to or ancillary to any of those powers.
(v)  The defined term “Benchmark Replacement” in Section 1.01 of the Existing Credit Agreement is hereby amended and restated in its entirety to read as follows:
“Benchmark Replacement” means, for any Available Tenor, the first alternative set forth in the order below that can be determined by the Administrative Agent for the applicable Benchmark Replacement Date; provided that, in the case of any Borrowing in an Alternative Currency, “Benchmark Replacement” shall mean the alternative set forth in (iii) below:  (i) the sum of (a) Term SOFR and (b) the related Benchmark Replacement Adjustment, (ii) the sum of (a) Daily Simple SOFR and (b) the related Benchmark Replacement Adjustment and (iii) the sum of (a) the alternate benchmark rate that has been selected by the Administrative Agent and the Borrower as the replacement for the then-current Benchmark for the applicable Corresponding Tenor giving due consideration to (A) any selection or recommendation of a replacement benchmark rate or the mechanism for determining such a rate by the Relevant Governmental Body or (B) any evolving or then-prevailing market convention for determining a benchmark rate as a replacement for the then-current Benchmark for syndicated credit facilities denominated in the applicable Agreed Currency at such time, and (b) the related Benchmark Replacement Adjustment;  provided that, in the case of clause (i), such Unadjusted Benchmark Replacement is displayed on a screen or other information service that publishes such rate from time to time as selected by the Administrative Agent in its reasonable discretion; provided further that, notwithstanding anything to the contrary in this Agreement or in any other Loan Document, upon the occurrence of a Term SOFR Transition Event, and the delivery of a Term SOFR Notice,  on the applicable Benchmark Replacement Date the “Benchmark Replacement” shall revert to and shall be deemed to be the sum of (a) Term SOFR and (b) the related Benchmark Replacement Adjustment, as set forth in clause (i) of this definition (subject to the first proviso above).
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 If the Benchmark Replacement as determined pursuant to clause (i), (ii) or (iii) above would be less than the Floor, the Benchmark Replacement will be deemed to be the Floor for the purposes of this Agreement and the other Loan Documents. 
(vi)The defined term “Benchmark Replacement Adjustment” in Section 1.01 of the Existing Credit Agreement is hereby amended and restated in its entirety to read as follows:
 “Benchmark Replacement Adjustment” means, with respect to any replacement of the then current Benchmark with an Unadjusted Benchmark Replacement for any applicable Interest Period and Available Tenor for any setting of such Unadjusted Benchmark Replacement: (1) for purposes of clauses (i) and (ii) of the definition of “Benchmark Replacement,” the first alternative set forth in the order below that can be determined by the Administrative Agent, (a) the spread adjustment, or method for calculating or determining such spread adjustment, (which may be a positive or negative value or zero) as of the Reference Time such Benchmark Replacement is first set for such Interest Period that has been selected or recommended by the Relevant Governmental Body for the replacement of such Benchmark with the applicable Unadjusted Benchmark Replacement for the applicable Corresponding Tenor or (b) the spread adjustment (which may be a positive or negative value or zero) as of the Reference Time such Benchmark Replacement is first set for such Interest Period that would apply to the fallback rate for a derivative transaction referencing the ISDA Definitions to be effective upon an index cessation event with respect to such Benchmark for the applicable Corresponding Tenor; and (2) for purposes of clause (iii) of the definition of “Benchmark Replacement,” the spread adjustment, or method for calculating or determining such spread adjustment, (which may be a positive or negative value or zero) that has been selected by the Administrative Agent and the Borrower for the applicable Corresponding Tenor giving due consideration to (A) any selection or recommendation of a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of such Benchmark with the applicable Unadjusted Benchmark Replacement by the Relevant Governmental Body on the applicable Benchmark Replacement Date, and/or (B) any evolving or then-prevailing market convention for determining a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of such Benchmark with the applicable Unadjusted Benchmark Replacement for syndicated credit facilities denominated in the applicable Agreed Currency; provided that, in the case of clause (1) above, such adjustment is displayed on a screen or other information service that publishes such Benchmark Replacement Adjustment from time to time as selected by the Administrative Agent in its reasonable discretion. 
(vii)The defined term “Benchmark Replacement Conforming Changes” in Section 1.01 of the Existing Credit Agreement is hereby amended and restated in its entirety to read as follows:

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“Benchmark Replacement Conforming Changes” means, with respect to any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition of “Base Rate,” the definition of “Business Day,” the definition of “Interest Period,” timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Administrative Agent decides may be appropriate to reflect the adoption and implementation of such Benchmark Replacement and to permit the administration thereof by the Administrative Agent in a manner substantially consistent with market practice (or, if the Administrative Agent decides that adoption of any portion of such market practice is not administratively feasible or if the Administrative Agent determines that no market practice for the administration of such Benchmark Replacement exists, in such other manner of administration as the Administrative Agent decides is reasonably necessary in connection with the administration of this Agreement and the other Loan Documents). 
(viii)The defined term “Benchmark Replacement Date” in Section 1.01 of the Existing Credit Agreement is hereby amended and restated in its entirety to read as follows:
“Benchmark Replacement Date” means the earliest to occur of the following events with respect to the then-current Benchmark: (i) in the case of clause (i) or (ii) of the definition of “Benchmark Transition Event,” the later of (A) the date of the public statement or publication of information referenced therein and (B) the date on which the administrator of such Benchmark (or the published component used in the calculation thereof) permanently or indefinitely ceases to provide all Available Tenors of such Benchmark (or such component thereof), (ii) in the case of clause (iii) of the definition of “Benchmark Transition Event,” the date of the public statement or publication of information referenced therein; or (iii) in the case of a Term SOFR Transition Event, the date that is thirty (30) days after the date a Term SOFR Notice is provided to the Lenders and the Borrower pursuant to Section 3.08; or (iv) in the case of an Early Opt-in Election, the sixth (6th) Business Day after the date notice of such Early Opt-in Election is provided to the Lenders, so long as the Administrative Agent has not received, by 5:00 p.m. (New York City time) on the fifth (5th) Business Day after the date notice of such Early Opt-in Election is provided to the Lenders, written notice of objection to such Early Opt-in Election from Lenders comprising the Required Lenders.  For the avoidance of doubt, (i) if the event giving rise to the Benchmark Replacement Date occurs on the same day as, but earlier than, the Reference Time in respect of any determination, the Benchmark Replacement Date will be deemed to have occurred prior to the Reference Time for such determination and (ii) the “Benchmark Replacement Date” will be deemed to have occurred in the case of clause (i) or (ii) with respect to any Benchmark upon the occurrence of the applicable event or events set forth therein with respect to all then-current Available Tenors of such Benchmark (or the published component used in the calculation thereof). 
(ix)The defined term “Benchmark Transition Event” in Section 1.01 of the Existing Credit Agreement is hereby amended and restated in its entirety to read as follows:

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“Benchmark Transition Event” means the occurrence of one or more of the following events with respect to the then-current Benchmark: (i) a public statement or publication of information by or on behalf of the administrator of such Benchmark (or the published component used in the calculation thereof) announcing that such administrator has ceased or will cease to provide all Available Tenors of such Benchmark (or such component thereof), permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide any Available Tenor of such Benchmark (or such component thereof), (ii) a public statement or publication of information by the regulatory supervisor for the administrator of such Benchmark (or the published component used in the calculation thereof), the Federal Reserve Board, the Federal Reserve Bank of New York, an insolvency official with jurisdiction over the administrator for such Benchmark (or such component), a resolution authority with jurisdiction over the administrator for such Benchmark (or such component) or a court or an entity with similar insolvency or resolution authority over the administrator for such Benchmark (or such component), which states that the administrator of such Benchmark (or such component) has ceased or will cease to provide all Available Tenors of such Benchmark (or such component thereof) permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide any Available Tenor of such Benchmark (or such component thereof), or (iii) a public statement or publication of information by the regulatory supervisor for the administrator of such Benchmark (or the published component used in the calculation thereof) announcing that all Available Tenors of such Benchmark (or such component thereof) are no longer representative. For the avoidance of doubt, a “Benchmark Transition Event” will be deemed to have occurred with respect to any Benchmark if a public statement or publication of information set forth above has occurred with respect to each then-current Available Tenor of such Benchmark (or the published component used in the calculation thereof). 
(x)The defined term “Benchmark Unavailability Period” in Section 1.01 of the Existing Credit Agreement is hereby amended and restated in its entirety to read as follows:
“Benchmark Unavailability Period” means the period (if any) (x) beginning at the time that a Benchmark Replacement Date pursuant to clauses (i) or (ii) of that definition has occurred if, at such time, no Benchmark Replacement has replaced the then-current Benchmark for all purposes hereunder and under any Loan Document in accordance with Section 3.08 and (y) ending at the time that a Benchmark Replacement has replaced the then-current Benchmark for all purposes hereunder and under any Loan Document in accordance with Section 3.08. 
(xi)The defined term “Early Opt-In Election” in Section 1.01 of the Existing Credit Agreement is hereby amended and restated in its entirety to read as follows:
 “Early Opt-in Election” means:
(i) in the case of Borrowings denominated in U.S. Dollars, (a) a notification by the Administrative Agent to (or the request by the Borrower to the Administrative Agent to notify) each of the other parties hereto that at least five currently outstanding U.S. dollar-denominated syndicated credit facilities at such time contain (as a result of amendment or as originally executed) a SOFR-based rate (including SOFR, a term SOFR or any other rate based upon SOFR) as a benchmark rate (and such syndicated credit facilities are identified in such notice and are publicly available for review), and (b) the joint election by the Administrative Agent and the Borrower to trigger a fallback from the LIBO Rate and the provision by the Administrative Agent of written notice of such election to the Lenders; and
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(ii) in the case of Borrowings denominated in any Alternative Currency, the occurrence of (a) (A) a determination by the Administrative Agent or (B) a notification by the Required Lenders to the Administrative Agent (with a copy to the Borrower) that the Required Lenders have determined that syndicated credit facilities denominated in the applicable Alternative Currency being executed at such time, or that include language similar to that contained in Section 3.08 are being executed or amended, as applicable, to incorporate or adopt a new benchmark interest rate to replace the LIBO Rate, and (b) (A) the election by the Administrative Agent or (B) the election by the Required Lenders to declare that an Early Opt-in Election has occurred and the provision, as applicable, by the Administrative Agent of written notice of such election to the Borrower and the Lenders or by the Required Lenders of written notice of such election to the Administrative Agent.

(xii)The defined term “Relevant Governmental Body” in Section 1.01 of the Existing Credit Agreement is hereby amended and restated in its entirety to read as follows:
“Relevant Governmental Body” means: (i) with respect to a Benchmark Replacement in respect of Loans denominated in U.S. Dollars, the Federal Reserve Board and/or the Federal Reserve Bank of New York, or a committee officially endorsed or convened by the Federal Reserve Board and/or the Federal Reserve Bank of New York or, in each case, any successor thereto, and (ii) with respect to a Benchmark Replacement in respect of Loans denominated in any Alternative Currency, (a) the central bank for the currency in which such Benchmark Replacement is denominated or any central bank or other supervisor which is responsible for supervising either (A) such Benchmark Replacement or (B) the administrator of such Benchmark Replacement or (b) any working group or committee officially endorsed or convened by (A) the central bank for the currency in which such Benchmark Replacement is denominated, (B) any central bank or other supervisor that is responsible for supervising either (1) such Benchmark Replacement or (2) the administrator of such Benchmark Replacement, (C) a group of those central banks or other supervisors or (D) the Financial Stability Board or any part thereof.
(xiii)The defined term “SOFR” in Section 1.01 of the Existing Credit Agreement is hereby amended and restated in its entirety to read as follows:
“SOFR” means, with respect to any Business Day, a rate per annum equal to the secured overnight financing rate for such Business Day published by the SOFR Administrator on the SOFR Administrator’s Website at approximately 8:00 a.m. (New York City time) on the immediately succeeding Business Day. 
(xiv)The defined term “Term SOFR” in Section 1.01 of the Existing Credit Agreement is hereby amended and restated in its entirety to read as follows:
 “Term SOFR” means, for the applicable Corresponding Tenor as of the applicable Reference Time, the forward-looking term rate based on SOFR that has been selected or recommended by the Relevant Governmental Body.  
(xv)The defined term “Unadjusted Benchmark Replacement” in Section 1.01 of the Existing Credit Agreement is hereby amended and restated in its entirety to read as follows: 

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“Unadjusted Benchmark Replacement” means the applicable Benchmark Replacement excluding the related Benchmark Replacement Adjustment. 
(xvi)The defined term “Benchmark Transition Start Date” in Section 1.01 of the Existing Credit Agreement shall be deleted. 
(xvii)Clause (a) of the defined term “Applicable Rate” in Section 1.01 of the Existing Credit Agreement is hereby amended and restated in its entirety to read as follows:
“(a) in respect of Term B Loans, 3.00% per annum for Base Rate Loans and 4.00% per annum for Eurodollar Rate Loans and”
(xviii)The proviso of the defined term “Eurodollar Rate” in Section 1.01 of the Existing Credit Agreement is hereby amended and restated in its entirety to read as follows:
“provided, however, notwithstanding the foregoing, at no time will the Eurodollar Rate be deemed to be (i) in the case of Revolving Credit Loans, less than 1.00% per annum and (ii) in the case of Term Loans, less than 0.75% per annum.”
(xix)Section 1.10 of the Existing Credit Agreement is hereby amended and restated in its entirety to read as follows
“Rates; LIBOR Notification. The interest rate on Eurodollar Rate Loans is determined by reference to the LIBO Rate, which is derived from the London interbank offered rate. The London interbank offered rate is intended to represent the rate at which contributing banks may obtain short-term borrowings from each other in the London interbank market. In July 2017, the U.K. Financial Conduct Authority announced that, after the end of 2021, it would no longer persuade or compel contributing banks to make rate submissions to the ICE Benchmark Administration (together with any successor to the ICE Benchmark Administrator, the “IBA”) for purposes of the IBA setting the London interbank offered rate. As a result, it is possible that commencing in 2022 or at some point thereafter, the London interbank offered rate may no longer be available or may no longer be deemed an appropriate reference rate upon which to determine the interest rate on Eurodollar Rate Loans for one or more currencies available for borrowing hereunder.  In light of this eventuality, public and private sector industry initiatives are currently underway to identify new or alternative reference rates to be used in place of the London interbank offered rate.  Upon the occurrence of a Benchmark Transition Event, a Term SOFR Transition Event or an Early Opt-in Election, Section 3.08 provides a mechanism for determining an alternative rate of interest.  The Administrative Agent will promptly notify the Borrower, pursuant to Section 3.08, of any change to the reference rate upon which the interest rate on Eurodollar Rate Loans is based. However, the Administrative Agent does not warrant or accept any responsibility for, and shall not have any liability with respect to, the administration, submission or any other matter related to the London interbank offered rate or other rates in the definition of “Eurodollar Rate” or with respect to any alternative or successor rate thereto, or replacement rate thereof including, without limitation, (i) any such alternative, successor or replacement rate implemented pursuant to Section 3.08, whether upon the occurrence of a Benchmark Transition Event, a Term SOFR Transition Event or an Early Opt-in Election, and (ii) the implementation of any Benchmark Replacement Conforming Changes pursuant to Section 3.08, including without limitation, whether the composition or characteristics of any such alternative, successor or replacement reference rate will be similar to, or produce the same value or economic equivalence of, the Eurodollar Rate or have the same volume or liquidity as did the London interbank offered rate prior to its discontinuance or unavailability.”
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(xx)Section 2.01(a) of the Existing Credit Agreement is hereby amended by adding the following sentence after the last sentence thereof:
“From and after the Amendment No. 2 Effective Date, the 2021 Refinancing Term Loans shall be deemed to be “Term Loans” and “Term B Loans” for all purposes of this Agreement and the other Loan Documents.”
(xxi)Section 2.05(b)(ix) of the Existing Credit Agreement is hereby amended and restated in its entirety to read as follows:
“(ix)    If on or before the date that is 6 months after the Amendment No. 2 Effective Date, there occurs any (i) prepayment or repayment of Term B Loans with the proceeds of, or any conversion of such Term B Loans into, any new debt financing or any replacement debt financing, in either case, bearing interest at an “effective” interest rate that is less than the “effective” interest rate applicable to the Term B Loans (as such comparative rates are determined by the Administrative Agent) or (ii) amendment to the terms of the Term B Loans which reduces the “effective” interest rate applicable to the Term B Loans (as such comparative rates are determined by the Administrative Agent) (in each case, with original issue discount and upfront fees, which shall be deemed to constitute like amounts of original issue discount, being equated to interest margins in a manner consistent with generally accepted financial practice based on an assumed four-year life to maturity) (any such transaction or event described in clauses (i) or (ii) above, a “Repricing Event”), then, simultaneously with the consummation of such Repricing Event, the Borrower shall pay to the Administrative Agent, for the ratable account of each of the applicable Term B Lenders, (I) in the case of clause (i) above, an amount equal to 1.00% of the aggregate principal amount of the Term B Loans so repriced or refinanced in such Repricing Event and (II) in the case of clause (ii) above, an amount equal to 1.00% of the aggregate principal amount of the Term B Loans that are the subject of such Repricing Event outstanding immediately prior to such amendment (including to each Term B Lender that refuses to consent to such amendment (which shall include each Term B Lender that refuses to consent to an amendment if such Term B Lender is required to make a mandatory assignment pursuant to Section 10.13 in connection therewith)).
(xxii)Section 3.08 of the Existing Credit Agreement is hereby amended and restated in its entirety to read as follows:
“Benchmark Replacement Setting.
(a) Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Loan Document, if a Benchmark Transition Event or an Early  Opt-in Election, as applicable, and its related Benchmark Replacement Date have occurred prior to the Reference Time in respect of any setting of the then-current Benchmark, then (x) if a Benchmark Replacement is determined in accordance with clause (i) or (ii) of the definition of  “Benchmark Replacement” for such Benchmark Replacement Date, such Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Loan Document in respect of such Benchmark setting and subsequent Benchmark settings without any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document and (y) if a Benchmark Replacement is determined in accordance with clause (iii) of the definition of “Benchmark Replacement” for such Benchmark Replacement Date, such Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Loan Document in respect of any Benchmark setting at or after 5:00 p.m. (New York City time) on the fifth (5th) Business Day after the date notice of such Benchmark 
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Replacement is provided to the Lenders without any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document so long as  the Administrative Agent has not received, by such time, written notice of objection to such Benchmark Replacement from Lenders comprising the Required Lenders of each Class. 
Notwithstanding anything to the contrary herein or in any other Loan Document and subject to the proviso below in this paragraph, if a Term SOFR Transition Event and its related Benchmark Replacement Date have occurred prior to the Reference Time in respect of any setting of the then-current Benchmark, then the applicable Benchmark Replacement will replace the then-current Benchmark for all purposes hereunder or under any Loan Document in respect of such Benchmark setting and subsequent Benchmark settings, without any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document; provided that, this paragraph shall not be effective unless the Administrative Agent has delivered to the Lenders and the Borrower a Term SOFR Notice. For the avoidance of doubt, the Administrative Agent shall not be required to determine that a Term SOFR Transition Event has occurred and may do so in its sole discretion.
 (b) Benchmark Replacement Conforming Changes.  In connection with the implementation of a  Benchmark Replacement, the Administrative Agent will have the right to make Benchmark  Replacement Conforming Changes from time to time and, notwithstanding anything to the contrary  herein or in any other Loan Document, any amendments implementing such Benchmark Replacement Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Loan Document. 
(c) Notices; Standards for Decisions and Determinations. The Administrative Agent will promptly notify the Borrower and the Lenders of (i) any occurrence of a Benchmark Transition Event, a Term SOFR Transition Event or an Early Opt-in Election, as applicable, and its related Benchmark Replacement Date, (ii) the implementation of any Benchmark Replacement, (iii) the effectiveness of any Benchmark Replacement Conforming Changes, (iv) the removal or reinstatement of any tenor of a Benchmark pursuant to clause (d) below and (v) the commencement or conclusion of any Benchmark  Unavailability Period.  Any determination, decision or election that may be made by the Administrative Agent or, if applicable, any Lender (or group of Lenders) pursuant to this Section 3.08 including any determination with respect to a tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action or any selection, will be conclusive and binding absent manifest error and may be made in its or their sole discretion and without consent from any other party to this Agreement or any other Loan Document, except, in each case, as expressly required pursuant to this Section 3.08.

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(d) Unavailability of Tenor of Benchmark.  Notwithstanding anything to the contrary herein or in any other Loan Document, at any time (including in connection with the implementation of a Benchmark Replacement), (i) if the then-current Benchmark is a term rate (including Term SOFR or the LIBO Rate) and either (A) any tenor for such Benchmark is not displayed on a screen or other information service that publishes such rate from time to time as selected by the Administrative Agent in its reasonable discretion or (B) the regulatory supervisor for the administrator of such Benchmark has provided a public statement or publication of information announcing that any tenor for such Benchmark is or will be no longer representative, then the Administrative Agent may modify the definition of “Interest Period” for any Benchmark settings at or after such time to remove such unavailable or non-representative tenor and (ii) if a tenor that was removed pursuant to clause (i) above either (A) is subsequently displayed on a screen or information service for a Benchmark (including a Benchmark Replacement) or (B) is not, or is no longer, subject to an announcement that it is or will no longer be representative for a Benchmark (including a Benchmark Replacement), then the Administrative Agent may modify the definition of “Interest Period” for all Benchmark settings at or after such time to reinstate such previously removed tenor. 
(e) Benchmark Unavailability Period. Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any request for a Eurodollar Borrowing of, conversion to or continuation of Eurodollar Loans to be made, converted or continued during any Benchmark Unavailability Period and, failing that, (x) in the case of Eurodollar Rate Loans denominated in U.S. Dollars, the Borrower will be deemed to have converted any such request into a request for a Borrowing of or conversion to Base Rate Loans and (y) in the case of Eurodollar Rate Loans denominated in an Alternative Currency, the Borrower will be deemed to have converted any such request into a request for a Borrowing of or conversion to Base Rate Loans in U.S. Dollars (in an amount equal to the U.S. Dollar Equivalent of the amount requested to be borrowed or converted in the Alternative Currency). During any Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of Base Rate.”
(xxiii)Section 10.22 of the Existing Credit Agreement is hereby amended and restated in its entirety to read as follows:

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Acknowledgement and Consent to Bail-In of Affected Financial Institutions.
Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any Affected Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may     be subject to Write-Down and Conversion Powers of the applicable Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by:
(a)    the application of any Write-Down and Conversion Powers by the applicable Resolution Authority to any such liabilities arising hereunder which may be payable to it by any Lender that is an Affected Financial Institution; and
(b)the effects of any Bail-In Action on any such liability, including, if applicable:
(i)a reduction in full or in part or cancellation of any such liability;
(ii)a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such Affected Financial Institution, its parent entity, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under this Agreement or any other Loan Document; or
(iii)the variation of the terms of such liability in connection with the exercise of the Write-Down and Conversion Powers of the applicable Resolution Authority.
4.Representations and Warranties.
To induce the Administrative Agent and the Lenders (including, for the avoidance of doubt, the 2021 Refinancing Term Lenders) to enter into this Amendment and to make the 2021 Refinancing Term Loans, each Loan Party represents and warrants to the Administrative Agent and each of the Lenders (including, for the avoidance of doubt, the 2021 Refinancing Term Lenders) as of the Amendment No. 2 Effective Date that the following statements are true and correct in all material respects:
(a)Corporate Power and Authority.  Each Loan Party has all requisite power and authority to execute, deliver and perform its obligations under this Amendment and perform its obligations under the Amended Credit Agreement.
(b)Due Authorization; No Contravention.  The execution and delivery by each Loan Party of this Amendment and the performance by each Loan Party of the terms of this Amendment and the Amended Credit Agreement have been duly authorized by all necessary corporate or other organizational action of such Loan Party, and do not and will not (a) contravene the terms of any of such Person’s Organization Documents; (b) conflict with or result in any breach or contravention of, or the creation of any Lien under, or require any payment to be made under (i) any material contract to which such Person is a party or affecting such Person or the properties of such Person or any of its Restricted Subsidiaries (other than Excluded Subsidiaries) or (ii) any order, injunction, writ or decree of any Governmental Authority or any arbitral award to which such Person or its property is subject; or (c) violate any Laws.

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(c)Governmental Authorization; Other Consents.  No material approval, consent, exemption, authorization, or other action by, or notice to, or filing with, any Governmental Authority or any other Person is necessary or required in connection with the execution, delivery or performance by, or enforcement against, any Loan Party of this Amendment or the Amended Credit Agreement, except for the approvals, consents, exemptions, authorizations, actions, notices and filings which have been duly obtained, taken, given or made and are in full force and effect.
(d)Binding Effect.  This Amendment has been duly executed and delivered by each Loan Party that is a party hereto.  Each of this Amendment and the Amended Credit Agreement constitutes a legal, valid and binding obligation of each Loan Party party hereto, enforceable against each Loan Party party hereto in accordance with its terms, except to the extent that the enforceability thereof may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws generally affecting creditors’ rights and by equitable principles (regardless of whether enforcement is sought in equity or at law).
(e)Incorporation of Representations and Warranties from Credit Agreement.  The representations and warranties contained in Article 5 of the Amended Credit Agreement or in any other Loan Document are and will be true and correct in all material respects on and as of the Amendment Effective Date to the same extent as though made on and as of that date, except to the extent such representations and warranties specifically relate to an earlier date, in which case they were true and correct in all material respects on and as of such earlier date, in each case after giving effect to this Amendment; provided that any representation and warranty that is qualified as to “materiality”, “Material Adverse Effect” or similar language shall be true and correct (after giving effect to any qualification therein) in all respects.  
(f)Absence of Default.  No event has occurred and is continuing that would constitute an Event of Default or a Default, in each case immediately before or after giving effect to the funding of the 2021 Refinancing Term Loans. 
5.Conditions to Effectiveness of this Amendment.
The effectiveness of this Amendment and the obligation of the 2021 Refinancing Term Lenders to fund the 2021 Refinancing Term Loans are subject to (i) the due execution and delivery of this Amendment by the Borrower and the Subsidiary Guarantors and (ii) the following additional conditions (the date of satisfaction or waiver of all such conditions, the “Amendment No. 2 Effective Date”):
(a)no Default or Event of Default shall exist on the Amendment No. 2 Effective Date immediately before or after giving effect to the funding of the 2021 Refinancing Term Loans;
(b)each of the representations and warranties made by any Loan Party set forth in Section 4 of this Amendment, Article 5 of the Existing Credit Agreement and the other Loan Documents shall be true and correct in all material respects on and as of the Amendment No. 2 Effective Date with the same effect as though made on and as of such date, both immediately before and after giving effect to the funding of the 2021 Refinancing Term Loans to be made on such date (other than any such representations or warranties that are made as of a specific date, which shall be true and correct in all material respects as of such date) (without duplication of any materiality qualifiers with respect to any such representation or warranty already qualified by materiality or Material Adverse Effect);

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(c)the Administrative Agent shall have received (i) a customary written opinion of Lewis Rice LLC, counsel to the Loan Parties, and local or other counsel in each of the jurisdictions listed on Schedule 4.01(a)(iv) of the Existing Credit Agreement, in form and substance reasonably satisfactory to the Administrative Agent, (ii) secretary’s certificates substantially in the forms delivered on the Closing Date (which certificates may also be certificates of “no change”, as applicable), (iii) resolutions duly adopted by the Board of Directors or other governing body, as applicable, of each Loan Party authorizing the incurrence or guarantee of the 2021 Refinancing Term Loans to be made on the Amendment No. 2 Effective Date, and the execution, delivery and performance of this Amendment and other transactions related thereto and (iv) certificates as to the good standing of each Loan Party as of a recent date from the Secretary of State of the state of its organization;
(d)the Administrative Agent shall have received a counterpart signature page of this Amendment, executed and delivered by each 2021 Refinancing Term Lender and each Revolving Credit Lender;
(e)the Administrative Agent shall have received a solvency certificate, substantially in the form of Exhibit B to the Existing Credit Agreement, from the chief financial officer of the Borrower certifying as to the matters set forth therein;
(f)the Borrower shall have paid to the Administrative Agent all fees and other amounts due and payable on or prior to the Amendment No. 2 Effective Date, including reimbursement or other payment of all out-of-pocket expenses required to be reimbursed or paid by the Borrower under the Amended Credit Agreement, to the extent invoiced at least two (2) Business Days prior to the Amendment No. 2 Effective Date;
(g)(i) upon the reasonable request of any 2021 Refinancing Term Lender made at least ten (10) Business Days prior to the Amendment No. 2 Effective Date, the Borrower shall have provided to such 2021 Refinancing Term Lender the documentation and other information so requested in connection with applicable “know your customer” and anti-money-laundering rules and regulations, including the PATRIOT Act and Beneficial Ownership Regulations, in each case at least three (3) Business Days prior to the Amendment No. 2 Effective Date, and (ii) at least three (3) Business Days prior to the Amendment No. 2 Effective Date, the Borrower shall deliver a Beneficial Ownership Certification to the extent the Borrower qualifies as a “legal entity customer” under the Beneficial Ownership Regulation if requested by the Administrative Agent or any other Lender at least ten (10) Business Days prior to the Amendment No. 2 Effective Date; 
(h)the Administrative Agent shall have received a Committed Loan Notice with respect to the 2021 Refinancing Term Loans in accordance with Section 2.02(a) of the Amended Credit Agreement, provided that the Committed Loan Notice shall be delivered to the Administrative Agent one (1) Business Day prior to the requested date of the 2021 Refinancing Term Loans; and
(i)substantially concurrently with the initial funding of the 2021 Refinancing Term Loans hereunder, unless otherwise subject to an election for cashless rollover from Existing Term Loans to 2021 Refinancing Term Loans, 100% of the proceeds thereof shall be applied to repay all of the outstanding Existing Term Loans under the Existing Credit Agreement (including accrued and unpaid interest).
6.Appointment of Joint Bookrunners
The Borrower hereby (a) appoints each of the persons listed on Annex A hereto (acting directly or through one or more of its affiliates as it shall deem appropriate to provide the services contemplated) to act as Joint Bookrunners for the 2021 Refinancing Term Loans (the “Joint Bookrunners”) for this Amendment, the 2021 Refinancing Term Commitments and the 2021 Refinancing Term Loans and (b) acknowledges and agrees that (i) the Joint Bookrunners shall be entitled to the privileges, indemnification, immunities and other benefits afforded to the Agents and the Arrangers pursuant to Section 9.08, Section 10.04, Section 10.07 and Section 10.17 of the Amended Credit Agreement and (ii) except as otherwise agreed to in writing by the Borrower and the Joint Bookrunners, the Joint Bookrunners shall not have any duties, responsibilities or liabilities with respect to this Amendment, the 2021 Refinancing Term Commitments, the 2021 Refinancing Term Loans, the Amended Credit Agreement or any other Loan Document.
16

7.Effect on the Amended Credit Agreement.
(a)Except as provided hereunder, the execution, delivery and performance of this Amendment shall not constitute a waiver or novation of any provision of, or operate as a waiver of any right, power or remedy of the Administrative Agent or Lender under any Loan Document.
(b)This Amendment shall be deemed to be a “Loan Document” as defined in the Amended Credit Agreement.
(c)Except as specifically amended by this Amendment, the Amended Credit Agreement and the other Loan Documents shall remain in full force and effect and are hereby ratified and confirmed.
(d)There shall be no amounts owed by the Borrower under Section 3.05 of the Existing Credit Agreement in connection with this Amendment.
8.Consent and Reaffirmation; Collateral Matters.
(a)Each Loan Party party hereto hereby (i) acknowledges and agrees that all of its pledges, grants of security interests and Liens and other obligations under the Collateral Agreement and the other Loan Documents to which it is a party are reaffirmed and remain in full force and effect on a continuous basis, (ii) reaffirms (x) each Lien granted by it to the Administrative Agent for the benefit of the Secured Parties and (y) the guaranties made by it pursuant to the Collateral Agreement and (iii) acknowledges and agrees that the grants of security interests and Liens by, and the guaranties of, the Guarantors contained in the Collateral Agreement and the other Loan Documents are, and shall remain, in full force and effect on and after the Amendment No. 2 Effective Date.
(b)Each Loan Party party hereto will deliver such other documents, certificates and agreements and take all such further actions, in each case, that may be required under any applicable Law or which the Administrative Agent may reasonably request to ensure the creation, validity, perfection and priority of the Liens on the Collateral created, or purported to be created, under the Collateral Documents.
(c)Each Loan Party hereby acknowledges and agrees that the 2021 Refinancing Term Loans incurred on the Amendment No. 2 Effective Date constitute Obligations and, without limiting the foregoing, are secured by the Collateral Documents, and are guaranteed pursuant to the Loan Documents.
9.Entire Agreement.
  This Amendment, the Amended Credit Agreement and the other Loan Documents constitute the entire agreement among the parties with respect to the subject matter hereof and thereof and supersede all other prior agreements and understandings, both written and oral, among the parties or any of them with respect to the subject matter hereof. 

17

10.Governing Law; Jurisdiction; Etc.
(a)THIS AMENDMENT AND ALL CLAIMS OR CAUSES OF ACTION (WHETHER IN CONTRACT, TORT OR OTHERWISE) THAT MAY BE BASED UPON, ARISE OUT OF OR RELATE IN ANY WAY HERETO OR THE NEGOTIATION, EXECUTION OR PERFORMANCE HEREOF OR THE TRANSACTIONS CONTEMPLATED HEREBY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.
(b)THE PROVISIONS OF SECTIONS 10.12, 10.14(B), (C) AND (D) OF THE AMENDED CREDIT AGREEMENT ARE INCORPORATED BY REFERENCE HEREIN, MUTATIS MUTANDIS, AND MADE A PART HEREOF.
11.WAIVER OF RIGHT TO TRIAL BY JURY.
EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AMENDMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY).  EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AMENDMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 11.
12.Counterparts.
 This Amendment may be executed in counterparts, each of which when so executed shall be deemed to be an original and all of which when taken together shall constitute one and the same instrument. Any signature to this Amendment may be delivered by facsimile, electronic mail (including pdf) or any electronic signature complying with the U.S. federal ESIGN Act of 2000 or the New York Electronic Signature and Records Act or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes to the fullest extent permitted by applicable law. For the avoidance of doubt, the foregoing also applies to any amendment, extension or renewal of this Amendment. Each of the parties represents and warrants to the other parties that it has the corporate capacity and authority to execute this Amendment through electronic means and there are no restrictions for doing so in that party’s constitutive documents.
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18

IN WITNESS WHEREOF, each of the undersigned has caused its duly authorized officer to execute and deliver this Amendment as of the date first written above.
									
		BELLRING BRANDS, LLC
			
		By:	/s/ Craig L. Rosenthal
		Name:	Craig L. Rosenthal
		Title:	Senior Vice President and General Counsel, 
Secretary
			
			
		DYMATIZE ENTERPRISES, LLC
			
		By:	/s/ Craig L. Rosenthal
		Name:	Craig L. Rosenthal
		Title:	Secretary
			
			
		PREMIER NUTRITION COMPANY, LLC
			
		By:	/s/ Craig L. Rosenthal
		Name:	Craig L. Rosenthal
		Title:	Secretary
			
			
		SUPREME PROTEIN, LLC
			
		By:	/s/ Craig L. Rosenthal
		Name:	Craig L. Rosenthal
		Title:	Secretary
			
			
		TA/DEI-A ACQUISITION CORP.
			
		By:	/s/ Craig L. Rosenthal
		Name:	Craig L. Rosenthal
		Title:	Secretary
			

[Signature Page to Amendment No. 2]

									
		CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as Administrative Agent, a Revolving Credit Lender and a 2021 Refinancing Term Lender

			
		By:	/s/ Doreen Barr
		Name:	Doreen Barr
		Title:	Authorized Signatory
			
		By:	/s/ Komal Shah
		Name:	Komal Shah
		Title:	Authorized Signatory

[Signature Page to Amendment No. 2]

									
		BANK OF AMERICA, N.A., as a Revolving Credit Lender

			
		By:	/s/ David H. Strickert
		Name:	David H. Strickert
		Title:	Managing Director

[Signature Page to Amendment No. 2]

									
		BARCLAYS BANK PLC, as a Revolving Credit Lender 

			
		By:	/s/ Ritam Bhalla
		Name:	Ritam Bhalla
		Title:	Director

[Signature Page to Amendment No. 2]

									
		CITIBANK, N.A., as a Revolving Credit Lender 

			
		By:	/s/ Justin Tichauer
		Name:	Justin Tichauer
		Title:	Managing Director

[Signature Page to Amendment No. 2]

									
		GOLDMAN SACHS BANK USA, as a Revolving Credit Lender

			
		By:	/s/ Dan Martis
		Name:	Dan Martis
		Title:	Authorized Signatory

[Signature Page to Amendment No. 2]

									
		JPMORGAN CHASE BANK, N.A., as a Revolving Credit Lender

			
		By:	/s/ Brendan Korb
		Name:	Brendan Korb
		Title:	Vice President

[Signature Page to Amendment No. 2]

									
		MORGAN STANLEY SENIOR FUNDING, INC., as a Revolving Credit Lender

			
		By:	/s/ Michael King
		Name:	Michael King
		Title:	Vice President

[Signature Page to Amendment No. 2]

									
		BMO HARRIS BANK, N.A., as a Revolving Credit Lender

			
		By:	/s/ Paul Harris
		Name:	Paul Harris
		Title:	Managing Director, FC&R

[Signature Page to Amendment No. 2]

									
		COÖPERATIEVE RABOBANK U.A., NEW YORK BRANCH, as a Revolving Credit Lender 

			
		By:	/s/ Bradley A. Pierce
		Name:	Bradley A. Pierce
		Title:	Managing Director
			
		By:	/s/ Shane Koonce
		Name:	Shane Koonce
		Title:	Executive Director

[Signature Page to Amendment No. 2]

									
		NOMURA CORPORATE FUNDING AMERICAS, LLC, as a Revolving Credit Lender

			
		By:	/s/ Andrew Keith
		Name:	Andrew Keith
		Title:	Executive Director
			

[Signature Page to Amendment No. 2]

									
		TRUIST BANK, as a Revolving Credit Lender

			
		By:	/s/ Tesha Winslow
		Name:	Tesha Winslow
		Title:	Director
			

[Signature Page to Amendment No. 2]

									
		UBS AG, STAMFORD BRANCH, as a Revolving Credit Lender

			
		By:	/s/ Anthony Joseph
		Name:	Anthony Joseph
		Title:	Associate Director
			
		By:	/s/ Houssem Daly
		Name:	Houssem Daly
		Title:	Assciate Director

[Signature Page to Amendment No. 2]

									
		WELLS FARGO BANK, NATIONAL ASSOCIATION, as a Revolving Credit Lender

			
		By:	/s/ Mark Holm
		Name:	Mark Holm
		Title:	Managing Director

[Signature Page to Amendment No. 2]

Schedule I
2021 Refinancing Term Commitments

						
	2021 Refinancing Term Lender	2021 Refinancing Term Commitments
	Credit Suisse AG, Cayman Islands Branch	$636,200,000
	Total	$636,200,000

Annex A

						
	2021 Refinancing Term Loans	Titles/Roles

	Credit Suisse AG, Cayman Islands Branch	Joint Bookrunner
	BOFA Securities, Inc.
	Joint Bookrunner
	Morgan Stanley Senior Funding, Inc. 
	Joint Bookrunner
	Barclays Bank PLC 
	Joint Bookrunner
	Citigroup Global Markets Inc.
	Joint Bookrunner
	Goldman Sachs Bank USA  
	Joint Bookrunner
	JPMorgan Chase Bank, N.A. 
	Joint Bookrunner
	 BMO Capital Markets Corp. 
	Joint Bookrunner
	Coöperatieve Rabobank U.A., New York Branch	Joint Bookrunner
	Nomura Securities International, Inc.	Joint Bookrunner
	Truist Securities, Inc.	Joint Bookrunner
	UBS Securities LLC	Joint Bookrunner
	Wells Fargo Securities, LLC	Joint Bookrunner

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