Document:

License Agreement - Joshsthlm AB

 Exhibit 10.21 
  

 
 LICENSE AGREEMENT 

Midasplayer 
 28/10 2011

 This License agreement (later the “Agreement”) has been entered into on this date, the 25th of October
2011 by and between Joshsthlm AB, reg. no 556655-2948, Gävlegatan 12B, 113 30 Stockholm, Sweden (later the “JOSH”) and Midasplayer AB, reg. no. 556653-2064, St. Eriksg. 113, 113 43 Stockholm, Sweden (later the “Midasplayer”,
which expression shall include its successors and assignees, as well as subsidiaries and/or affiliated companies). 
 Later the JOSH and Midasplayer are
also jointly referred to as the “Parties” and solely as a “Party”. 

 

 1 INTRODUCTION 

JOSH owns and develops interactive platform software (the interactive platform software including any and all parts, software, plug–ins, modules or
similar is here-forth referred to as “XCAP”) provided under this Agreement. 
 This agreement provides a license that enables Midasplayer to offer
the functionality of XCAP on all web properties owed to a minimum of 51% by Midasplayer. 
 NOW THEREFORE, in consideration of the mutual promises,
covenants and obligations contained herein, the parties agree as follows: 
 2 RIGHTS 

2.1 FULL SERVICE LICENSE 
 JOSH hereby grants to
Midasplayer and Midasplayer accepts from JOSH, subject to the terms and conditions set out hereafter, a non-exclusive, non-assignable Full Service License for the duration of the Term to use XCAP to the extent specified in this Agreement. For the
avoidance of doubt, the license apples only to Midasplayer’s own use of XCAP and Midasplayer is not entitled to sell or market XCAP to third parties, such as Midasplayer’s customers or consumers in general, unless such sale or offering is
expressly permitted by JOSH. 
 2.2 XCAP VERSION AND UPDATES 

This agreement shall apply to version 2.7 of XCAP and shall include all future versions of XCAP during the Term. 

2.3 INSTALLATION 
 Installation of XCAP shall be made by
JOSH. 
 Upgrades cannot be scheduled according to specific requests from Midasplayer. JOSH will however in concordance with Midasplayer release updated
versions of the software as well as, if applicable, future changes in structure and functionalities. 
 3 TERM AND TERMINATION 

3.1 TERM 
 This Agreement shall, with regard to the Full
Service License, remain in force for an initial period of twelve (12) months, (the “Term”) from the date of signing this Agreement, and shall thereafter continue on a current basis, subject to 3 months notice from either party. 

3.2 TERMINATION 
 Each party shall have the right to
terminate this Agreement immediately upon written notice in the event that the other party becomes insolvent, files for any form of bankruptcy, makes any assignment for the benefit of creditors, has a receiver, administrative receiver or officer
appointed over the whole or a substantial part of the assets (other than for the purpose of solvent amalgamation), or ceases to conduct business. 
 Each
party shall have the right to terminate this Agreement if the other party is in material breach of its obligations hereunder and fails to remedy such breach (if capable of remedy) within thirty (30) days from the written notice by the other
party, which notice shall specify the breach in reasonable detail. 
 Upon termination according to the Clause 3.2 and according to

 
Clause 3.1 above, Midasplayer will immediately cease using XCAP and shall promptly and without further delay destroy and all copies of XCAP. 

Within thirty (30) days of termination, each party will return or destroy all Confidential Information of the other party in its possession and will not
make or retain any copies of such Confidential Information except as required to comply with any applicable legal or regulatory requirements. 
 4 FEES

 4.1 LICENSE FEE 
 The Variable License Fee shall
be based on the average number of monthly Unique Visitors to the service URL where XAP is used. It shall be calculated on a monthly basis starting on the date of signing this Agreement with interval as long as the contract is valid. 

 

							
	Max Unique Visitors	 	  	Monthly Fee (SEK)	 
	 	25,000	  	  	 	2,000	  
	 	50,000	  	  	 	4,000	  
	 	100,000	  	  	 	8,000	  
	 	200,000	  	  	 	16,000	  
	 	300,000	  	  	 	24,000	  
	 	400,000	  	  	 	32,000	  
	 	500,000	  	  	 	40,000	  
	 	600,000	  	  	 	48,000	  
	 	700,000	  	  	 	56,000	  

 When reaching 700,000 Unique Visitors the price goes over to a fixed monthly fee at a maximum of 56,000 SEK with unlimited
number of Unique Visitors. The number of Unique Visitors is audited using Google Analytics. Midasplayer shall inform JOSH about any changes to the Statistics or additional services where XCAP is being used that will affect the License Fee. 

All the above mentioned fees are exclusive of VAT. 
 In the
event that the Term of this Agreement has exceeded three (3) years from the date the Agreement entered into force, the Parties, if deemed equitable, shall have the right to re-negotiate the License Fees. 

4.2 PAYMENT 
 The License Fees shall be paid against
invoice on a quarterly basis with interval as long as the contract is valid. 
 All invoices are due to 30 day net. If Midasplayer is overdue on any payment
due under this Agreement, Midasplayer shall pay interest on the overdue amount at an annual rate of eight percent (8%). If Midasplayer is overdue on any payment due under this Agreement for more than sixty (60) days from receiving the invoice,
JOSH shall have the right to discontinue the services specified herein without further notice until all overdue invoices are paid. 
 5 SUPPORT 

5.1 TECHNICAL SUPPORT 
 JOSH shall, within the frame of the
applicable License Fee according to Clause 4.1 above, provide technical support to

 

 
Midasplayer. Support, which covers questions from the Midasplayer’s representative or technical contact to JOSH, will be available on working days during normal business hours. Support
requests are to be made by phone and/or e-mail and only in matters concerning XCAP. JOSH shall respond to the support request at the latest during the next working day. 

JOSH will provide technical support on a monthly basis within the hour limits specified below. Unused support hours are voided at the end of the month, and
may not be transferred to the next period. 
  

			
	 Min Unique Visitors
	  	 Support hours per month

	300,000	  	1
	400,000	  	2
	500,000	  	3
	600,000	  	4
	700,000	  	5

 5.2 ADDITION TECHNICAL SUPPORT 

Additional technical support exceeding the time limits specified above will be provided at an hourly fee of 950 SEK (exclusive of VAT). 

5.3 DOCUMENTATION 
 JOSH shall provide Midasplayer with
all the relevant documentation with regard to use of XCAP. 
 5.4 END USER SUPPORT 

Midasplayer is entitled at its own discretion to provide unprompted first line support to its own customers/users. 

6 DELIVERY 
 JOSH provided that all reasonable support
from Midasplayer is given to JOSH, will deliver a complete installation of XCAP with four (4) weeks following the date of signing this Agreement. 

7 SERVICES & OBLIGATIONS 
 7.1 MAINTENANCE

 JOSH shall, at its own discretion and/or when needed by Midasplayer, provide maintenance of all Services/Modules ordered by Midasplayer and supplied
by JOSH. 
 7.2 ERROR CORRECTION 
 JOSH shall, provided
that the License Fees have been duly paid by Midasplayer, provide maintenance with regard to all emerged errors, defects etc. pertaining to XCAP for as long as the Agreement stays in force. 

JOSH undertakes to correct all errors and defects in a professional manner and in accordance with what is customary in the software industry. Bug fixes and
correction of errors that do not affect the functionality of XCAP shall be made without undue delay. Should such bugs be of significant importance to the overall usage of XCAP, error correction of such flaws shall be made immediately. 

8 MISCELLANEOUS 
 8.1 OWNERSHIP 

Midasplayer acknowledges that, as between Midasplayer and JOSH, JOSH owns all right, title and interest in any and all software, systems and interfaces
provided to Midasplayer under this Agreement. JOSH shall retain all intellectual property rights, title and interest in and to XCAP and in connection with XCAP, its services and content etc, as well as in the JOSH’s trademarks. 

Midasplayer retains the ownership to any and all information with regard to, including but not limited to, its customers and/or business partners
(“Midasplayer Information”) that, if any,

 
Midasplayer provides JOSH with or such Midasplayer Information is administered through XCAP. JOSH is entitled to use Midasplayer Information only to the extent absolutely necessary for performing
its duties under this Agreement. 
 JOSH acknowledges and agrees that this Agreement does not establish JOSH any rights to any trademark, trade name, logo
type, copyright or other intellectual property right belonging to Midasplayer, unless otherwise agreed between the Parties. 
 Notwithstanding the above, in
respect of content created or generated on the Sites by Midasplayer by means of XCAP, Midasplayer shall have title, copyright and other intellectual property rights, if any, to such content. 

8.2 WARRANTIES 
 The Parties represent and warrant each
other as follows and acknowledge that the other Party is relying on such representations and warranties as a precondition for entering into this Agreement. 

JOSH represents and warrants that it has all necessary corporate power and authority to enter into and perform this Agreement, and to license the produce to
Midasplayer, and that such license does not conflict with or infringe any rights of any third party (including, without limitation, any copyrights, patent rights or trade secrets), or any agreement to which JOSH is bound or the product is subject.

 The Parties further represent and warrant they have and will throughout the Term continue to hold and comply with all permits and/or licenses required to
carry out their respective businesses and that they will comply with the applicable laws and regulations, including but not limited to in respect of providing XCAP pursuant to this Agreement. 

8.3 LIMITATION 
 Unless otherwise provided herein, there
are no warranties, representations or conditions, express or implied, written or oral, arising by statute, operation of law or otherwise, regarding the performance of this Agreement and the Parties disclaim any implied warranty or condition of
merchantable quality, merchantability, durability or fitness for a particular purpose. 
 Each Party understands and agrees that it will be solely
responsible for the financial and legal consequences resulting from both its assertion of any representations or provisions of any warranties to Midasplayer or end users, in connection with XCAP, that exceed the mutually agreed scope of the Parties
responsibilities for such representations and warranties. 
 8.4 SITE CONTENT 

JOSH reserves the right, after having consulted the matter with Midasplayer, to deny Midasplayer the use of XCAP on any of the Sites in case they contain
explicit material or other content that can be considered explicit, offensive or otherwise improper provided, furthermore, that such content is prohibited by law, or can otherwise be detrimental to JOSH, as determined by JOSH at its reasonable and
well-founded discretion. Midasplayer shall bear any and all costs, if any, incurred by JOSH pertaining to the removal of XCAP and/or its components form the Sites. 

8.5 INFINGEMENT, DEFENSE AND SETTLEMENT 
 JOSH shall
indemnify and hold Midasplayer harmless for all damages, costs, charges, losses, liabilities and expenses incurred by Midasplayer arising from or incurred by reason of any third party claim or suit alleging that the use or possession of any
intellectual property or XCAP supplied by JOSH infringes any intellectual property rights belonging to a third party. Furthermore, JOSH agrees to be responsible for any reasonable costs (including reasonable attorneys’ fees) involved and pay
any damages finally awarded against Midasplayer in any such claim. 

 

 8.6 LIMITATION OF LIABILITY 

Unless otherwise stated in this Agreement, neither Party shall be liable for any incidental, indirect, special or consequential damages or any damages
whatsoever resulting from loss of use, data or profits, arising out of or relating to this Agreement. 
 Neither Party shall bear liability over any third
parties’ misuse or infringement of the other Party’s intellectual property in relation to this Agreement if the Party in question has engaged in measures that can be deemed reasonably precautionary to protect the other Party’s
intellectual property. 
 No limitations shall apply, in case the losses and/or damages are caused by a party’s willful misconduct or gross negligence
or is based on infringement of any third party’s intellectual property rights, on the breach of the duty of confidentiality pursuant to Clause 8.11, or on a breach of any representations or warranties made herein. 

8.7 AGGREGATE LIABILITY 
 The aggregate liability of
either Party for any loss arising out of or relating to this Agreement whether for negligence, breach of contract, misrepresentation or otherwise, shall in respect of a single occurrence or a series of occurrences in no circumstances exceed the
amount equal to the payments made by Midasplayer to JOSH under this Agreement during the twelve (12) month period preceding the date when the claim in question arose. 

8.8 ACTION TO PROTECT 
 Each Party shall promptly report
to the other any actual or suspected violation of the terms of this Agreement, and shall take all reasonable action to prevent, control and/or remedy such violation. 

8.9 NO PARTNERSHIP 
 Nothing in this Agreement shall be
construed as constituting a partnership or joint venture between the Parties nor as rendering either Party as the agent of the other. Neither Party shall enter into, incur liabilities or present itself to third parties as having the authority to
enter into or incur any contractual obligations, expenses or liabilities on behalf of the other Party. 
 8.10 CONFIDENTIALITY 

All information that has been disclosed, in writing or otherwise, as confidential by the disclosing Party (regardless of its form, manifestation or how it has
come to be known to the other Party) concerning either Party to this Agreement, including without limitation the source code for the Parties’ respective software, technology, data, business, financial affairs, and operations, is hereby deemed,
for purposes of this Clause 8.10, to be confidential and proprietary to each respective Party (later referred to as “Confidential Information”). 

Confidential information shall not include information on part of which the receiving Party can establish before a court of competent jurisdiction:
(i) was in the possession of the receiving Party at the time of disclosure; (ii) prior to or after the time of disclosure becomes part of the public domain without the act or omissions of the Party to whom it was disclosed; (iii) is
disclosed to the receiving Party by a third party under no legal obligation to maintain the confidentiality of such information; or (iv) was independently developed by the receiving Party. 

All Confidential Information shall be treated as strictly confidential by the receiving Party and its employees, contractors, and agents, who on a solely need
to know basis receive such Confidential Information, and shall not be disclosed to any third parties by the receiving Party without the disclosing Party’s prior written

 
consent. However, the receiving Party may disclose Confidential Information in accordance with judicial or other governmental order, provided that the receiving Party gives the disclosing Party a
reasonable notice prior to such disclosure and complies with all applicable protective order or equivalent. 
 Midasplayer may disclose Confidential
Information also in connection with a corporate transaction or competitive bidding related to this Agreement, assuming that the recipients of the information are committed to confidentiality relating to Confidential Information. 

This Clause 8.10 shall survive the termination of this Agreement and shall remain in full force and effect thereafter. 

8.11 TREATMENT OF CONFIDENTIAL INFORMATION. 
 Neither
Party shall in any way duplicate any part of the other Party’s Confidential Information, unless otherwise expressly stipulated in this Agreement. Each Party shall enter into an appropriate agreement with each of its employees, contractors and
agents having access to the other Party’s Confidential Information sufficient to enable that party to comply with confidentiality obligations similar to this Agreement. Each Party agrees to protect the other’s Confidential Information with
a fiduciary duty and shall adopt and/or maintain procedures to protect Confidential Information commensurate with such duty. 
 8.12 ASSIGNMENT 

The Parties shall not have the right to assign this Agreement or any part thereof or their rights, duties or obligations thereunder without the other
Party’s prior written consent. 
 8.13 ENTIRE AGREEMENT 

This Agreement together with its appendices constitutes the entire agreement between the Parties on all issues, relating to the Agreement. Unless specifically
provided for herein, all prior agreements, communications and understandings between the Parties with respect to such subject matter are superseded by this Agreement. 

8.14 NO VARIATION 
 No agreement or other understandings
varying or extending the foregoing rights and obligations will be binding on either Party unless made in writing and signed by authorized representatives of both Parties. 

8.15 TAXES 
 Each Party shall, in connection with its
performance of and benefits accrued from this Agreement, bear the sole expense of all applicable duties and foreign, federal, state, county, local income taxes, value added taxes and other related taxes and amounts. 

8.16 NOTICES 
 Any notice required or contemplated by this
Agreement to be given by either Party shall be deemed to be duly delivered and effective when made via e-mail to the addresses mentioned in Clause 7.3 above, unless otherwise specifically stated herein. 

8.17 GOVERNING LAW AND DISPUTE RESOLUTION 
 This Agreement
and any and all extensions and/or modifications thereof shall be governed by and construed in accordance with the laws of Sweden, excluding its choice of law provisions. 

All disputes, claims, or controversies arising out of or in connection with this Agreement shall be referred to the District Court of Stockholm.

 

 This Agreement has been drawn up and duly executed in two (2) copies of which the Parties have taken one
each. 
  

					
	On behalf of JOSH	 		 	On behalf of Midasplayer
			
	 October 28, 2011
	 		 	 October 28, 2011

			
	Date	 		 	Date
			
	 [illegible]
	 		 	 [illegible]

			
	Place	 		 	Place
			
	 /s/ Andreas Ströberg
	 		 	 [illegible]

			
	Andreas StröbergEX-10.1

 Exhibit 10.1 

EXECUTION VERSION 
 FIRST
AMENDMENT TO CREDIT AGREEMENT 
 FIRST AMENDMENT TO CREDIT AGREEMENT (this “First Amendment”), dated as of
February 14, 2014, among FLOWERS FOODS, INC., a Georgia corporation (the “Borrower”), the lenders party to the Credit Agreement referred to below (the “Lenders”) and DEUTSCHE BANK AG NEW YORK BRANCH, as
Administrative Agent (in such capacity, the “Administrative Agent”). Capitalized terms used herein and not otherwise defined herein shall have the meanings given to them in the Credit Agreement referred to below, as amended by this
First Amendment. References to Sections or Schedules are references to Sections of, or Schedules to, the Credit Agreement, as applicable, unless otherwise stated. 

W I T N E S S E T H: 

WHEREAS, the parties hereto are parties to a Credit Agreement, dated as of April 5, 2013 (and as amended, amended and restated, modified
and/or supplemented to, but not including, the date hereof, the “Credit Agreement”), among the Borrower, the Lenders party thereto and the Administrative Agent; and 

WHEREAS, the parties hereto desire to amend the Credit Agreement pursuant to the terms and conditions set forth herein; 

NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration, the receipt of which is hereby acknowledged,
the parties hereto agree as follows: 
  

	I.	Amendments and Agreements With Respect to the Credit Agreement. 

 (a) The
definition of “Applicable Margin” appearing in Section 11.01 of the Credit Agreement is hereby amended by replacing in its entirety the first paragraph thereof and the pricing table appearing therein with the following: 

“Applicable Margin” shall mean (a) from and after the First Amendment Effective Date until the date of delivery
of any certificate in accordance with the first sentence of the following paragraph for any fiscal quarter or fiscal year, as the case may be, of the Borrower ending on or after December 28, 2013, a percentage per annum equal to (i) as to
any Base Rate Loans, 0.75% and (ii) any Eurodollar Loans, 1.75% and (b) from and after each day of delivery of any certificate in accordance with the first sentence of the following paragraph for any fiscal quarter or fiscal year, as the
case may be, of the Borrower ending on or after December 28, 2013 (each, a “Start Date”), to and including the applicable End Date described below, the Applicable Margins for all Term Loans shall (subject to any adjustment pursuant to
the immediately succeeding paragraph) be those set forth below in the table under the caption “Pricing Table”, in each case opposite the Leverage Ratio indicated to have been achieved in any certificate delivered in accordance with the
following sentence: 

 Pricing Table 
  

									
	 Leverage Ratio
	  	Applicable Margin for Term
Loans maintained as Base
Rate Loans	 	 	Applicable Margin for Term
Loans maintained as
Eurodollar Loans	 
	 Equal to or less than 0.50:1.00
	  	 	0.00	% 	 	 	1.00	% 
	 Greater than 0.50:1.00 but less than or equal to 1.00:1.00
	  	 	0.125	% 	 	 	1.125	% 
	 Greater than 1.00:1.00 but less than or equal to 1.50:1.00
	  	 	0.25	% 	 	 	1.25	% 
	 Greater than 1.50:1.00 but less than or equal to 1.75:1.00
	  	 	0.375	% 	 	 	1.375	% 
	 Greater than 1.75:1.00 but less than or equal to 2.25:1.00
	  	 	0.50	% 	 	 	1.50	% 
	 Greater than 2.25:1.00 but less than or equal to 2.75:1.00
	  	 	0.75	% 	 	 	1.75	% 
	 Greater than 2.75:1.00
	  	 	1.25	% 	 	 	2.25	% 

 (b) Section 11.01 of the Credit Agreement is hereby amended by inserting in the
appropriate alphabetical order the following new definitions: 
 “First Amendment” shall mean that certain First
Amendment to this Agreement, dated as of February 14, 2014, by and among the Borrower, the Lenders party thereto and the Administrative Agent. 

“First Amendment Effective Date” shall mean February 14, 2014. 

(c) Notwithstanding anything to the contrary in this First Amendment or the Credit Agreement, all accrued and unpaid interest
with respect to the Term Loans extended prior to the First Amendment Effective Date shall be calculated at the rates set forth in the definition of “Applicable Margin” without giving effect to the First Amendment. 

 (d) Section 1.10(c) of the Credit Agreement is hereby amended by inserting
the word “liquidity” after the words “capital adequacy,” and before the words “or any change in interpretation or administration thereof”. 
  

	II.	Conditions Precedent to Effectiveness. 

 This First Amendment shall become effective on
the date (the “First Amendment Effective Date”) when each of the following conditions shall have been satisfied; provided that if the following conditions are not satisfied by February 14, 2014, this First Amendment
shall not become effective and shall be of no force or effect with respect to the Credit Agreement: 
 1. The Borrower, the Administrative
Agent and each other Lender shall have signed a counterpart hereof (whether the same or different counterparts) and shall have delivered (including by way of facsimile, pdf or other electronic transmission) the same to the Administrative Agent. 

2. The Administrative Agent shall have received favorable customary legal opinion of Jones Day, counsel to the Credit Parties addressed to the
Administrative Agent and each of the Lenders party to the Credit Agreement on the First Amendment Effective Date and dated the First Amendment Effective Date covering such matters incidental to this First Amendment and the transactions contemplated
hereby as the Administrative Agent may reasonably request. 
 3. The Administrative Agent shall have received (A) true and complete
copies of resolutions of the board of directors of the Borrower approving and authorizing the execution, delivery and performance of the Credit Agreement and the Credit Documents, in each case as modified by this First Amendment, certified as of the
First Amendment Effective Date by an Authorized Representative and attested to by another Authorized Representative of the Borrower as being in full force and effect without modification or amendment and (B) good standing certificates for the
Borrower from the jurisdiction in which the Borrower is organized. 
 4. All of the representations and warranties made pursuant to Part III
hereof shall be true and correct in all material respects on the First Amendment Effective Date, both before and after giving effect to this First Amendment, with the same effect as though such representations and warranties had been made on and as
of the First Amendment Effective Date (it being understood and agreed that (x) any representation or warranty which by its terms is made as of a specified date shall be required to be true and correct in all material respects only as of such
specified date and (y) any representation or warranty that is qualified as to “materiality,” “Material Adverse Effect” or similar language shall be true and correct in all respects on such specified date). 

5. Since December 29, 2012, nothing shall have occurred (and neither the Administrative Agent nor the Required Lenders shall have become
aware of any facts or conditions not previously known) which the Administrative Agent or the Required Lenders shall determine has had, or could reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect. 

 6. No litigation by any entity (private or governmental) shall be pending or threatened in
writing with respect to the Credit Agreement, any other Credit Document or any other documentation executed in connection herewith and therewith or the transactions contemplated hereby and thereby, or which the Administrative Agent shall determine
has had, or could reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect. 
 7. The
Administrative Agent shall have received payment from the Borrower, for the account of each Lender that executes and delivers a counterpart signature page to this Amendment prior to 10:00 A.M., New York City time, on February 14, 2014 (the
“Term Loan Consent Deadline”), a non-refundable consent fee payable in Dollars in an amount equal to 0.05% of the Term Loan Commitment of each such existing Lender in effect as of the First Amendment Effective Date and in connection
with each new Lender, the rate separately agreed with such new Lender. 
 8. The Borrower shall have paid reasonable and documented
out-of-pocket expenses of the Administrative Agent required to be paid or reimbursed pursuant to Section 13.01 of the Credit Agreement, including the reasonable and documented fees, charges and disbursements of counsel for the Administrative
Agent. 
 9. The Administrative Agent shall have received such other documents, information or agreements regarding the Borrower as the
Administrative Agent shall reasonably request. 
  

	III.	Representations and Warranties. 

 The Borrower represents and warrants to the
Administrative Agent and the Lenders that, as of the date of and after giving effect to this First Amendment: 
 1. The execution, delivery
and performance of this First Amendment has been duly authorized by all necessary action on the part of the Borrower. 
 2. This First
Amendment is a legal, valid and binding obligation of the Borrower, enforceable against the Borrower in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws generally affecting
creditors’ rights and to general principles of equity. 
 3. All of the representations and warranties contained in the Credit
Agreement and the other Credit Documents are true and correct in all material respects on the First Amendment Effective Date, both before and after giving effect to this First Amendment, with the same effect as though such representations and
warranties had been made on and as of the First Amendment Effective Date (it being understood and agreed that (x) any representation or warranty which by its terms is made as of a specified date shall be required to be true and correct in all
material respects only as of such specified date and (y) any representation or warranty that is qualified as to “materiality,” “Material Adverse Effect” or similar language shall be true and correct in all respects on such
specified date). 
 4. No Default or Event of Default has occurred and is continuing. 

 5. The Credit Agreement and all other Credit Documents are and remain legal, valid, binding and
enforceable obligations in accordance with the terms thereof, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws generally affecting creditors’ rights and to general principles of equity. 

6. This First Amendment (i) does not require any order, consent, approval, license, authorization or validation of, or filing, recording
or registration with or exemption by, any governmental or public body or authority, or subdivision thereof, (ii) will not violate any applicable law, statute, rule or regulation or any applicable order, writ, injunction or decree of any court
or governmental instrumentality, (iii) will not conflict with or result in any breach of any of the terms, covenants, conditions or provisions of, or constitute a default under, or result in the creation or imposition of (or the obligation to
create or impose) any Lien (other than Permitted Liens) upon any of the material properties or assets of the Borrower or any of its Subsidiaries pursuant to the terms of any indenture, mortgage, deed of trust, credit agreement or loan agreement, or
any other material agreement, contract or instrument, to which the Borrower or any of its Subsidiaries is a party or by which it or any of its property or assets is bound or to which it may be subject and (iv) will not violate any provision of
the Certificate or Articles of Incorporation or By-Laws (or equivalent organizational documents) of the Borrower or its Subsidiaries. 
  

	IV.	General Provisions. 

 1. Governing Law. THIS FIRST AMENDMENT AND THE RIGHTS AND
OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAW OF THE STATE OF NEW YORK. 
 2.
Execution in Counterparts. This First Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken
together shall constitute one and the same agreement. Delivery of an executed counterpart of a signature page to this First Amendment by facsimile or other electronic transmission shall have the same effect as delivery of a manually executed
counterpart of this First Amendment. 
 3. Severability. Any provision hereof which is held to be invalid, illegal or unenforceable
in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without rendering the remaining provisions hereof invalid, illegal or unenforceable in such jurisdiction and without
affecting the validity, legality or enforceability of any provision in any other jurisdiction. 
 4. Successors; Assignment. The
terms of this First Amendment shall be binding upon, and shall inure for the benefit of, the parties hereto and their respective successors and assigns; provided that the Borrower may not assign or transfer any of its rights, obligations or
interest hereunder without the prior written consent of each Lender. 
 5. Effect on Credit Documents. (i) Except as expressly
set forth herein, this First Amendment shall not by implication or otherwise limit, impair, constitute a waiver of or 

 
otherwise affect the rights and remedies of the Lenders or the Agents under the Credit Agreement or any other Credit Document, and shall not alter, modify, amend or in any way affect any of the
terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other provision of the Credit Agreement or of any other Credit Document, all of which are ratified and affirmed in all respects and shall continue in
full force and effect. Nothing herein shall be deemed to entitle the Borrower to receive consent to, or a waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or agreements contained in the Credit
Agreement or any other Credit Document in similar or different circumstances. 
 6. Reference to Amendment. On and after the First
Amendment Effective Date, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof”, “herein”, or words of like import, and each reference to the Credit Agreement in any other Credit
Document shall be deemed a reference to the Credit Agreement as modified hereby. This First Amendment shall constitute a “Credit Document” for all purposes of the Credit Agreement and the other Credit Documents. 

[The remainder of this page is intentionally left blank.] 

 IN WITNESS WHEREOF, the parties hereto have caused their duly authorized officers to execute and
deliver this First Amendment as of the date first above written. 
  

							
	 1919 Flowers Circle
 Thomasville, GA
31757
 Telephone: (229) 226-9110
 Facsimile: (229) 225-3808

Attention: Secretary and General Counsel
	 		  	 FLOWERS FOODS, INC.
  

	 		  	By:	 	 /s/ R. Steve Kinsey

Name: R. Steve Kinsey
 Title: Executive Vice President and

          Chief Financial Officer

 [Signature Page to First Amendment to Flowers Term Credit Agreement] 

 
			
	 DEUTSCHE BANK AG NEW YORK
BRANCH, as Administrative Agent and a Lender

		
	By:	 	 /s/ Ming K. Chu

Name: Ming K. Chu
 Title: Vice President

		
	By:	 	 /s/ Heidi Sandquist

Name: Heidi Sandquist
 Title: Director

 [Signature Page to First Amendment to Flowers Term Credit Agreement] 

 
			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF THE DATE FIRST ABOVE WRITTEN, TO THE CREDIT AGREEMENT, DATED AS OF APRIL 5,
2013, AMONG FLOWERS FOODS, INC., THE VARIOUS LENDERS PARTY THERETO AND DEUTSCHE BANK AG NEW YORK BRANCH, AS ADMINISTRATIVE AGENT
  

	 Bank of America, N.A.
  

	By:	 	 /s/ David L. Catherall

		 	Name: David L. Catherall
		 	Title: Managing Director

 [Signature Page to First Amendment to Flowers Term Credit Agreement] 

 
			
	SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF THE DATE FIRST ABOVE WRITTEN, TO THE CREDIT AGREEMENT, DATED AS OF APRIL 5, 2013, AMONG FLOWERS FOODS, INC., THE VARIOUS LENDERS PARTY THERETO AND DEUTSCHE BANK AG NEW
YORK BRANCH, AS ADMINISTRATIVE AGENT
	  
 BRANCH BANKING AND TRUST COMPANY

 

	By:	 	 /s/ Brantley Echols

		 	Name: Brantley Echols
		 	Title: SeniorVice President

 [Signature Page to First Amendment to Flowers Term Credit Agreement] 

 
			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF THE DATE FIRST ABOVE WRITTEN, TO THE CREDIT AGREEMENT, DATED AS OF APRIL 5,
2013, AMONG FLOWERS FOODS, INC., THE VARIOUS LENDERS PARTY THERETO AND DEUTSCHE BANK AG NEW YORK BRANCH, AS ADMINISTRATIVE AGENT
  

	 COÖOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A., “RABOBANK NEDERLAND”, NEW YORK BRANCH

 

	By:	 	 /s/ Vikram Malkanl

		 	Name: Vikram Malkanl
		 	Title: Managing Director
		
	By:	 	 /s/ Chris G. Kortlandt

		 	Name: Chris G. Kortlandt
		 	Title: Managing Director

 [Signature Page to First Amendment to Flowers Term Credit Agreement] 

 
			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF THE DATE FIRST ABOVE WRITTEN, TO THE CREDIT AGREEMENT, DATED AS OF APRIL 5,
2013, AMONG FLOWERS FOODS, INC., THE VARIOUS LENDERS PARTY THERETO AND DEUTSCHE BANK AG NEW YORK BRANCH, AS ADMINISTRATIVE AGENT
  

REGIONS BANK

	
	  
 By:
	 	  
 /s/ Donald Q. Dalton

		 	Name: Donald Q. Dalton
		 	Title: Executive Vice President

 [Signature Page to First Amendment to Flowers Term Credit Agreement] 

 
			
	SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF THE DATE FIRST ABOVE WRITTEN, TO THE CREDIT AGREEMENT, DATED AS OF APRIL 5, 2013, AMONG FLOWERS FOODS, INC., THE VARIOUS LENDERS PARTY THERETO AND DEUTSCHE BANK AG NEW
YORK BRANCH, AS ADMINISTRATIVE AGENT
	
	The Northern Trust Company,
		
	By:	 	 /s/ Kathryn Schad Reuther

		 	Name: Kathryn Schad Reuther
		 	Title: SVP

 [Signature Page to First Amendment to Flowers Term Credit Agreement] 

			
	SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF THE DATE FIRST ABOVE WRITTEN, TO THE CREDIT AGREEMENT, DATED AS OF APRIL 5, 2013, AMONG FLOWERS FOODS, INC., THE VARIOUS LENDERS PARTY THERETO AND DEUTSCHE BANK AG NEW
YORK BRANCH, AS ADMINISTRATIVE AGENT
	
	 PNC Bank, National Association

		
	By:	 	 /s/ Susan J. Dimmick

		 	Name: Susan J. Dimmick
		 	Title: Senior Vice President

 [Signature Page to First Amendment to Flowers Term Credit Agreement 

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF THE DATE FIRST ABOVE WRITTEN, TO THE CREDIT AGREEMENT, DATED AS OF APRIL 5,
2013, AMONG FLOWERS FOODS, INC., THE VARIOUS LENDERS PARTY THERETO AND DEUTSCHE BANK AG NEW YORK BRANCH, AS ADMINISTRATIVE AGENT

	
	 ROYAL BANK OF CANADA

		
	By:	 	 /s/ Gordon MacArthur

		 	Name: Gordon MacArthur
		 	Title: Authorized Signatory

 [Signature Page to First Amendment to Flowers Term Credit Agreement 

			
	SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF THE DATE FIRST ABOVE WRITTEN, TO THE CREDIT AGREEMENT, DATED AS OF APRIL 5, 2013, AMONG FLOWERS FOODS, INC., THE VARIOUS LENDERS PARTY THERETO AND DEUTSCHE BANK AG NEW
YORK BRANCH, AS ADMINISTRATIVE AGENT
	
	 Wells Fargo Bank, National Association

		
	By:	 	 /s/ Virginia S. Singletary

		 	Name: Virginia S. Singletary
		 	Title: Vice President

 [Signature Page to First Amendment to Flowers Term Credit Agreement 

 
			
	SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF THE DATE FIRST ABOVE WRITTEN, TO THE CREDIT AGREEMENT, DATED AS OF APRIL 5, 2013, AMONG FLOWERS FOODS, INC., THE VARIOUS LENDERS PARTY THERETO AND DEUTSCHE BANK AG NEW
YORK BRANCH, AS ADMINISTRATIVE AGENT
	
	AgFirst Farm Credit Bank
		
	By:	 	 /s/ Steven J. O’Shea

		 	Name: Steven J. O’Shea
		 	Title: Vice President

 [Signature Page to First Amendment to Flowers Term Credit Agreement] 

 
			
	SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF THE DATE FIRST ABOVE WRITTEN, TO THE CREDIT AGREEMENT, DATED AS OF APRIL 5, 2013, AMONG FLOWERS FOODS, INC., THE VARIOUS LENDERS PARTY THERETO AND DEUTSCHE BANK AG NEW
YORK BRANCH, AS ADMINISTRATIVE AGENT
	
	CoBank, ACB
		
	By:	 	 /s/ Natalya Rivkin

		 	Name: Natalya Rivkin
		 	Title: Vice President

 [Signature Page to First Amendment to Flowers Term Credit Agreement] 

 
			
	SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF THE DATE FIRST ABOVE WRITTEN, TO THE CREDIT AGREEMENT, DATED AS OF APRIL 5, 2013, AMONG FLOWERS FOODS, INC., THE VARIOUS LENDERS PARTY THERETO AND DEUTSCHE BANK AG NEW
YORK BRANCH, AS ADMINISTRATIVE AGENT
	
	Farm Credit Services of America, PCA
		
	By:	 	 /s/ Curt A. Brown

		 	Name: Curt A. Brown
		 	Title: Vice President

 [Signature Page to First Amendment to Flowers Term Credit Agreement] 

 
			
	SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF THE DATE FIRST ABOVE WRITTEN, TO THE CREDIT AGREEMENT, DATED AS OF APRIL 5, 2013, AMONG FLOWERS FOODS, INC., THE VARIOUS LENDERS PARTY THERETO AND DEUTSCHE BANK AG NEW
YORK BRANCH, AS ADMINISTRATIVE AGENT
	
	GreenStone Farm Credit Services, ACA/FLCA,
		
	By:	 	 /s/ Alfred S. Compton, Jr.

		 	Name: Alfred S. Compton, Jr.
		 	Title: SVP/Managing Director

 [Signature Page to First Amendment to Flowers Term Credit Agreement] 

 
			
	SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF THE DATE FIRST ABOVE WRITTEN, TO THE CREDIT AGREEMENT, DATED AS OF APRIL 5, 2013, AMONG FLOWERS FOODS, INC., THE VARIOUS LENDERS PARTY THERETO AND DEUTSCHE BANK AG NEW
YORK BRANCH, AS ADMINISTRATIVE AGENT
	
	[INSERT LEGAL NAME OF INSTITUTION]
	
	 SunTrust Bank

		
	By:	 	 /s/ Tesha Winslow

		 	Name: Tesha Winslow
		 	Title: Vice President

 [Signature Page to First Amendment to Flowers Term Credit Agreement]

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