Document:

Exhibit

Amended effective August 9, 2016

HC2 HOLDINGS, INC.
2014 OMNIBUS EQUITY AWARD PLAN
EMPLOYEE NONQUALIFIED OPTION AWARD AGREEMENT

THIS NONQUALIFIED OPTION AWARD AGREEMENT (the “Agreement”), is made, effective as of [insert date] (the “Date of Grant”), between HC2 Holdings, Inc. (the “Company”), and [insert name] (the “Participant”).
R E C I T A L S:
WHEREAS, the Company has adopted the HC2 Holdings, Inc. 2014 Omnibus Equity Award Plan (the “Plan”), pursuant to which Options may be granted; and
WHEREAS, the Board of Directors of the Company has determined that it is in the best interests of the Company and its stockholders to grant to the Participant an Option as provided herein and subject to the terms set forth herein.
NOW THEREFORE, for and in consideration of the premises and the covenants of the parties contained in this Agreement, and for other good and valuable consideration, the receipt of which is hereby acknowledged, the parties hereto, for themselves, their successors and assigns, hereby agree as follows:
		
	1.
	Grant of Option.

		
	(a)
	Grant. The Company hereby grants to the Participant an Option (the “Option”) to purchase [insert number] shares of Common Stock (such shares, the “Option Shares”), on the terms and conditions set forth in this Agreement and as otherwise provided in the Plan. The Option is not intended to qualify as an Incentive Stock Option. The Exercise Price, being the price at which the Participant shall be entitled to purchase the Option Shares upon the exercise of all or any portion of the Option, shall be $[insert price] per Option Share.

		
	(b)
	Incorporation by Reference, Etc. The provisions of the Plan are hereby incorporated herein by reference. Except as otherwise expressly set forth herein, this Agreement shall be construed in accordance with the provisions of the Plan and any capitalized terms not otherwise defined in this Agreement shall have the definitions set forth in the Plan. In the event of a conflict between the Plan and this Agreement, the terms and conditions of the Plan shall govern. The Committee shall have final authority to interpret and construe the Plan and this Agreement and to make any and all determinations under them, and its decision shall be binding and conclusive upon the Participant and his legal representative in respect of any questions arising under the Plan or this Agreement.

		
	2.
	Vesting. Except as may otherwise be provided herein (or as otherwise provided in an employment, consulting or other written agreement between the Participant and the 

Company or any of its Subsidiaries), subject to the Participant’s continued employment with the Company or a Subsidiary, [the Option shall become vested and exercisable with respect to _______ (___%) percent of the Option Shares on the Grant Date and _____ (___%) percent on the first anniversary of the Grant Date] (a “Vesting Date”). Any fractional Option Shares resulting from the application of the vesting schedule shall be aggregated and the Option Shares resulting from such aggregation shall vest on the Vesting Date.
		
	3.
	Transferability. The Option may not be assigned, alienated, pledged, attached, sold, gifted, loaned or otherwise transferred or encumbered by the Participant other than by will or by the laws of descent and distribution, pursuant to a qualified domestic relations order or as otherwise permitted under of the Plan. In the event of the Participant’s death, the Option shall thereafter be exercisable (to the extent otherwise exercisable hereunder) only by the Participant’s executors or administrators. In addition, the Participant agrees to comply with any written holding requirement policy adopted by the Company for employees.

		
	4.
	Termination of Employment. Except as otherwise provided below (or as otherwise provided in an employment, consulting or other written agreement between the Participant and the Company or any of its Subsidiaries), if the Participant’s employment or service with the Company or any Subsidiary, as applicable, terminates for any reason, then the unvested portion of the Option shall be cancelled immediately and the Participant shall immediately forfeit any rights to the Option Shares subject to such unvested portion.

		
	5.
	Expiration.

(a)    In no event shall all or any portion of the Option be exercisable after the tenth anniversary of the Date of Grant (the “Option Period”).
(b)     Except as otherwise provided in an employment, consulting or other written agreement between the Participant and the Company or any of its Subsidiaries, if the Participant’s employment or service with the Company and all Subsidiaries is terminated (i) by the Company or its Subsidiaries without Cause the Option shall expire on the earlier of the last day of the Option Period or the date that is 90 days after the date of such termination, or (ii) by the Participant for any reason other than at a time when grounds to terminate the Participant’s employment for Cause exist, the Option shall expire on the earlier of the last day of the Option Period or the date that is 30 days after the date of such termination. In the event of a termination described in this subsection (b), the Option shall remain exercisable by the Participant until its expiration only to the extent the Option was exercisable at the time of such termination.
(c)     Except as otherwise provided in an employment, consulting or other written agreement between the Participant and the Company or any of its Subsidiaries, if the Participant dies or is terminated on account of Disability prior to the end of the Option Period and while still in the employ or service of the Company or a Subsidiary, the Option shall remain exercisable by the Participant or his or her beneficiary, as applicable, until the earlier of the last day of the Option Period or the date that is one year after the date of death or termination on account of Disability of the Participant, as applicable. In the event of a 

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termination described in this subsection (c), the Option shall remain exercisable by the Participant until its expiration only to the extent the Option was exercisable at the time of such termination.
(d)     If the Participant ceases employment or service of the Company or any of its Subsidiaries due to a termination for Cause or a termination by the Participant for any reason at a time when grounds to terminate the Participant’s employment for Cause exist, the Option (including any vested portion of the Option) shall expire immediately upon such cessation of employment or service.
		
	6.
	Method of Exercise.

(a)    Options which have become exercisable may be exercised by delivery of a duly executed written notice of exercise to the Company at its principal business office using such form(s) as may be required from time to time by the Company. The Participant may obtain such form(s) by contacting the Chief Legal Officer at the address set forth in Section 9(a) below.
(b)    No Option Shares shall be delivered pursuant to any exercise of the Option until payment in full of the Exercise Price therefor is received by the Company in accordance with Section 7(d) of the Plan and the Participant has paid to the Company an amount equal to any federal, state, local and non-U.S. income and employment taxes required to be withheld.
(c)    Subject to applicable law, the Exercise Price and applicable tax withholding shall be payable, at the election of the Participant, by (i) cash or cash equivalents (including certified check or bank check or wire transfer of immediately available funds); (ii) if approved by the Committee, tendering previously acquired Common Stock (either actually or by attestation) valued at their then Fair Market Value; (iii) a “net exercise” procedure effected by withholding the minimum number of Option Shares otherwise deliverable in respect of an Option that are needed to pay for the Exercise Price and all applicable required withholding taxes; (iv) a cashless exercise procedure through a broker acceptable to the Company; or (v) such other method which is approved by the Committee. Any fractional shares of Common Stock shall be settled in cash.
		
	7.
	Rights as a Shareholder. The Participant shall not be deemed for any purpose to be the owner of any Option Shares unless, until and to the extent that (i) this Option shall have been exercised pursuant to its terms, (ii) the Company shall have issued and delivered to the Participant the Option Shares, and (iii) the Participant’s name shall have been entered as a shareholder of record with respect to such Option Shares on the books of the Company.

		
	8.
	Tax Withholding. The exercise of the Option (or any portion thereof) shall be subject to the Participant satisfying any applicable federal, state, local and foreign tax withholding obligations in accordance with the methods specified in Section 6(c) hereof. The obligations of the Company under this Agreement will be conditional on such payment or arrangements, and the Company will, to the extent permitted by law, have the right to deduct any such 

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withholding taxes from all amounts payable to the Participant in connection with the Option or any payment of any kind otherwise due to the Participant.
		
	9.
	Miscellaneous.

(a)    Notices. All notices, demands and other communications provided for or permitted hereunder shall be made in writing and shall be by registered or certified first-class mail, return receipt requested, telecopier, courier service or personal delivery:
if to the Company:
HC2 Holdings, Inc.
Attn:  Chief Legal Officer
450 Park Avenue, 30th Floor
New York, NY  10022
Email: probinson@hc2.com

if to the Participant, at the Participant’s last known address on file with the Company.
All such notices, demands and other communications shall be deemed to have been duly given when delivered by hand, if personally delivered; when delivered by courier, if delivered by commercial courier service; five business days after being deposited in the mail, postage prepaid, if mailed; and when receipt is mechanically acknowledged, if telecopied.
(b)    Clawback/Forfeiture. If the Participant receives any amount in excess of what the Participant should have received with respect to the Option Shares for any reason (including without limitation by reason of a financial restatement, mistake in calculations or other administrative error), then the Participant shall be required to repay any such excess amount to the Company upon 30 days prior written demand by the Committee. To the extent required by applicable law (including without limitation Section 304 of the Sarbanes Oxley Act and Section 954 of the Dodd Frank Act), the Option Shares shall be subject to any required clawback, forfeiture or similar requirement.
(c)    Severability. The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, and each other provision of this Agreement shall be severable and enforceable to the extent permitted by law.
(d)    No Rights to Service. Nothing contained in this Agreement shall be construed as giving the Participant any right to be retained, in any position as an employee, consultant or director of the Company or its Affiliates or shall interfere with or restrict in any way the rights of the Company or its Affiliates, which are hereby expressly reserved, to remove, terminate or discharge the Participant at any time for any reason whatsoever.

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(e)    Bound by Plan. By signing this Agreement, the Participant acknowledges that he has received a copy of the Plan and has had an opportunity to review the Plan and agrees to be bound by all the terms and provisions of the Plan.
(f)    Beneficiary. The Participant may file with the Committee a written designation of a beneficiary on such form as may be prescribed by the Committee and may, from time to time, amend or revoke such designation. If no designated beneficiary survives the Participant, the executor or administrator of the Participant’s estate shall be deemed to be the Participant’s beneficiary.
(g)    Successors. The terms of this Agreement shall be binding upon and inure to the benefit of the Company, its successors and assigns, and the Participant and the beneficiaries, executors, administrators, heirs and successors of the Participant.
(h)    Section 409A. The Option is intended to be exempt from or comply with Section 409A of the Code and this Agreement shall be interpreted consistent therewith. This Agreement is subject to Section 15(t) of the Plan.
(i)    Electronic Delivery. By executing this Agreement, the Participant hereby consents to the electronic delivery of prospectuses, annual reports and other information required to be delivered by Securities and Exchange Commission rules. This consent may be revoked in writing by the Participant at any time upon three business days’ notice to the Company, in which case subsequent prospectuses, annual reports and other information will be delivered in hard copy to the Participant.
(j)    Securities Laws. The Participant agrees that the obligation of the Company to issue Option Shares shall also be subject, as conditions precedent, to compliance with applicable provisions of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, state securities or corporation laws, rules and regulations under any of the foregoing and applicable requirements of any securities exchange upon which the Company’s securities shall be listed.
(k)    Entire Agreement. This Agreement and the Plan contain the entire agreement and understanding of the parties hereto with respect to the subject matter contained herein and supersede all prior communications, representations and negotiations in respect thereto. No change, modification or waiver of any provision of this Agreement shall be valid unless the same be in writing and signed by the parties hereto.
(l)    Governing Law. This Agreement shall be construed and interpreted in accordance with the laws of the State of Delaware without regard to principles of conflicts of law thereof, or principals of conflicts of laws of any other jurisdiction which could cause the application of the laws of any jurisdiction other than the State of Delaware.
(m)    Headings. The headings of the Sections hereof are provided for convenience only and are not to serve as a basis for interpretation or construction, and shall not constitute a part, of this Agreement.

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(n)    Signature in Counterparts. This Agreement may be signed in counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument.

[Signatures on next page.]

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IN WITNESS WHEREOF, the Company and the Participant have executed this Agreement as set forth below.

	
			
	 
	 
	 

	HC2 Holdings, Inc. 

	 
	 

	By:
	 
	 

	[Name]
	 
	 

	[Title]
	 
	 

	
			
	 
	 
	 

	Participant

	 
	 

	By:
	 
	 

	[Name]
	 
	 

	 
	 
	 

7EXHIBIT
10.1

 

FIRST
AMENDMENT TO FOURTH AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT

 

THIS
FIRST AMENDMENT TO FOURTH AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT (this “Amendment”), dated as of
July 7, 2016, is entered into by and among PCM, INC., a Delaware corporation (“PCM”), PCM SALES, INC., a California
corporation (“PCM Sales”), PCM LOGISTICS, LLC, a Delaware limited liability company (“PCM Logistics”),
PCMG, INC., a Delaware corporation (“PCMG”), M2 MARKETPLACE, INC., a Delaware corporation (“M2”),
ABREON, INC., a Delaware corporation (“Abreon”), MALL ACQUISITION SUB 5 INC., a Delaware corporation (“Acquisition
5”), PCM BPO, LLC, a Delaware limited liability company (“PCM BPO”), EN POINTE TECHNOLOGIES SALES,
LLC, a Delaware limited liability company (“En Pointe”), and ONSALE HOLDINGS, INC., an Illinois corporation
(“Holdings”) (each a “U.S. Borrower” and collectively the “U.S. Borrowers”),
and PCM SALES CANADA, INC., a Quebec corporation (“PCM Sales Canada”), and ACRODEX INC., an Alberta corporation
(“Acrodex”) (each a “Canadian Borrower” and collectively the “Canadian Borrowers”;
and the Canadian Borrowers and the U.S. Borrowers are each hereinafter referred to as a “Borrower”, and collectively,
the “Borrowers”), WELLS FARGO CAPITAL FINANCE, LLC, a Delaware limited liability company, as administrative
and collateral agent for the Lenders (in such capacity, “Agent”) and the Lenders signatory hereto.

 

RECITALS

 

A.
Agent and the several financial institutions from time to time party thereto as lenders (“Lenders”) and Borrowers
have previously entered into that certain Fourth Amended and Restated Loan and Security Agreement dated as of January 19, 2016
(as amended, restated, supplemented or otherwise modified from time to time, the “Loan Agreement”), pursuant
to which Agent and Lenders have made certain loans and financial accommodations available to Borrowers. Terms used herein without
definition shall have the meanings ascribed to them in the Loan Agreement.

 

B.
Borrowers have requested that Agent and the Lenders increase the Maximum Credit by an amount equal to $15,000,000 and make other
amendments to the Loan Agreement, which Agent and the Lenders are willing to do pursuant to the terms and conditions set forth
herein.

 

C.
Borrowers are entering into this Amendment with the understanding and agreement that, except as specifically provided herein,
none of Agent’s or any Lender’s rights or remedies as set forth in the Loan Agreement are being waived or modified
by the terms of this Amendment.

 

AGREEMENT

 

NOW,
THEREFORE, in consideration of the foregoing and the mutual covenants herein contained, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows:

 

    	 

    	 

    

 

1.
Amendments to Loan Agreement.

 

(a)
The following definition is hereby added to the Loan Agreement as Section 1.47(A):

 

“1.47(A)
“Castle Pines” means Castle Pines Capital LLC.”

 

(b)
The following definition is hereby added to the Loan Agreement as Section 1.47(B):

 

“1.47(B)
“Castle Pines Documents” means the “Second Lien Documents” as such term is defined in the Castle
Pines Intercreditor Agreement.”

 

(c)
The following definition is hereby added to the Loan Agreement as Section 1.47(C):

 

“1.47(C)
“Castle Pines Intercreditor Agreement” means that certain Intercreditor Agreement dated as of the First Amendment
Effective Date, by and between Agent and Castle Pines, and acknowledged and agreed to by the Borrowers.”

 

(d)
The following definition is hereby added to the Loan Agreement as Section 1.47(D):

 

“1.47(D)
“Castle Pines Secured Obligations” means the “Second Lien Debt” as such term is defined in the
Castle Pines Intercreditor Agreement.”

 

(e)
The lead in to the definition of “Eligible Accounts” in Section 1.68 of the Loan Agreement and clauses (a), (f), (g)
and (j) thereof are hereby amended and restated to read in their entirety to read as follows:

 

“1.68
“Eligible Accounts” shall mean Accounts created by Borrowers or Joint Venture which are and continue to be
acceptable to Agent based on the criteria set forth below. In general, Accounts shall be Eligible Accounts if:

 

(a)
such Accounts arise from the actual and bona fide sale and delivery of goods by Borrowers or Joint Venture or rendition
of services by Borrowers or Joint Venture in the ordinary course of their business which transactions are completed in accordance
with the terms and provisions contained in any documents related thereto;”

 

“(f)
such Accounts do not consist of progress billings (such that the obligation of the account debtors with respect to such Accounts
is conditioned upon a Borrower’s or Joint Venture’s satisfactory completion of any further performance under the agreement
giving rise thereto), bill and hold invoices or retainage invoices, except as to bill and hold invoices, if Agent shall have received
an agreement in writing from the account debtor, in form and substance satisfactory to Agent, confirming the unconditional obligation
of the account debtor to take the goods related thereto and pay such invoice;

 

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(g)
the account debtor with respect to such Accounts has not asserted a counterclaim, defense or dispute and does not have, and does
not engage in transactions which may give rise to, any right of setoff against such Accounts (but the portion of the Accounts
of such account debtor in excess of the amount at any time and from time to time owed by any Borrower or Joint Venture to such
account debtor or claimed owed by such account debtor may be deemed Eligible Accounts);”

 

“(j)
neither the account debtor nor any officer or employee of the account debtor with respect to such Accounts is an officer, employee
or agent of or affiliated with any Borrower or Joint Venture directly or indirectly by virtue of family membership, ownership,
control, management or otherwise;”

 

(f)
In the definition of “Eligible Accounts” in Section 1.68 of the Loan Agreement, (i) the text “; and” at
the end of clause (r) thereof is hereby deleted and replaced with the text “;”, (ii) the text “.” at the
end of clause (s) thereof is hereby deleted and replaced with the text “; and”, and (iii) a new clause (t) is hereby
added as follows:

 

“(t)
to the extent such Accounts are created by Joint Venture, such Accounts constitute Eligible Joint Venture Accounts.”

 

(g)
The following definition is hereby added to the Loan Agreement as Section 1.71(A):

 

“1.71(A)
“Eligible Joint Venture Accounts” means Accounts generated by Joint Venture which are and continue to be acceptable
to Agent based on the criteria set forth below. In general, Accounts generated by Joint Venture shall be Eligible Joint Venture
Accounts if:

 

(a)
such Accounts have been assigned to PCM Sales and PCM in accordance with the Joint Venture Documents with no further action required;

 

(b)
the assignment of such Accounts from Joint Venture to PCM Sales and PCM is subject to a true sale opinion in form and substance
satisfactory to Agent;

 

(c)
such Accounts do not constitute more than twenty percent (20%) of all otherwise Eligible Accounts (but the portion of the Accounts
not in excess of such percentage may be deemed Eligible Joint Venture Accounts);

 

(d)
PCM Sales and PCM have perfected the transfer of such Accounts from Joint Venture by filing a UCC-1 in form and substance satisfactory
to Agent, and such UCC-1 has been assigned to Agent; and

 

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(e)
the Joint Venture Documents have not been amended since the First Amendment Effective Date other than amendments approved by Agent
in its Permitted Discretion.”

 

(h)
The following definition is hereby added to the Loan Agreement as Section 1.92(A):

 

“1.92(A)
“First Amendment Effective Date” means July 7, 2016.”

 

(i)
The following definition is hereby added to the Loan Agreement as Section 1.110(A):

 

“1.110(A)
“Joint Venture” means En Pointe IT Solutions, LLC, a Delaware limited liability company.”

 

(j)
The following definition is hereby added to the Loan Agreement as Section 1.110(B):

 

“1.110(B)
“Joint Venture Documents” means, collectively, that certain Master Services Agreement between Joint Venture
and PCM Sales and PCM, that certain Limited Liability Company Agreement of En Pointe IT Solutions, LLC, and any other agreements,
documents or instruments related thereto.”

 

(k)
The definition of “Maximum Credit” in Section 1.113 of the Loan Agreement is hereby amended and restated to read in
its entirety as follows:

 

“1.113
“Maximum Credit” shall mean, with reference to the Loans and the Letter of Credit Accommodations, the amount
of Two Hundred Ninety Million Dollars ($290,000,000).”

 

(l)
A new Section 9.6(f) is hereby added to the Loan Agreement as follows:

 

“(f)
Borrowers shall promptly notify Agent in writing of the details of any amendment, restatement, supplement or other modification
to any of the Joint Venture Documents and shall promptly provide Agent with a copy of any such amendment, restatement, supplement
or modification.”

 

(m)
In Section 9.8 of the Loan Agreement, (i) the text “and” at the end of clause (h) thereof is hereby deleted and replaced
with the text “;”, (ii) the text “.” at the end of clause (i) thereof is hereby deleted and replaced with
the text “; and”, and (iii) a new clause (j) is hereby added as follows:

 

“(j)
Liens in favor of Castle Pines securing the Castle Pines Secured Obligations, subject to the terms of the Castle Pines Intercreditor
Agreement.”

 

(n)
In Section 9.9 of the Loan Agreement, (i) the text “and” at the end of clause (j) thereof is hereby deleted, (ii)
the text “.” at the end of clause (k) thereof is hereby deleted and replaced with the text “; and”, and
(iii) a new clause (l) is hereby added as follows:

 

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“(l)
the Castle Pines Secured Obligations in an amount not to exceed $50,000,000 at any time, subject to the terms of the Castle Pines
Intercreditor Agreement.”

 

(o)
In Section 9.10 of the Loan Agreement, (i) the text “and” at the end of clause (j) thereof is hereby deleted, (ii)
the text “.” at the end of clause (k) thereof is hereby deleted and replaced with the text “; and”, and
(iii) a new clause (l) is hereby added as follows

 

“(l)
performance guarantees provided by PCM Sales and PCM pursuant to the Joint Venture Documents, as in effect as of the First Amendment
Effective Date.”

 

(p)
The following is hereby added to the Loan Agreement as a new Section 13.15 thereof:

 

“13.15
Intercreditor Agreement. Each Lender hereunder authorizes and instructs Agent to enter into the Castle Pines Intercreditor
Agreement and acknowledges (or is deemed to acknowledge) that a copy of the Castle Pines Intercreditor Agreement was delivered,
or made available, to such Lender. Each Lender hereby acknowledges that it has received and reviewed the Castle Pines Intercreditor
Agreement. Each of the Lenders agrees to be bound by the Castle Pines Intercreditor Agreement. Nothing in this Section 13.15 shall
be construed to provide that any Borrower is a third party beneficiary of the provisions of the Castle Pines Intercreditor Agreement
or may assert any rights, defenses or claims on account of the Castle Pines Intercreditor Agreement or this Section 13.15, and
each Borrower agrees that nothing in the Castle Pines Intercreditor Agreement is intended or shall impair the obligation of any
Borrower to pay the obligations under this Agreement, or any other Financing Agreement as and when the same become due and payable
in accordance with their respective terms, or to affect the relative rights of the creditors with respect to any Borrower or except
as expressly otherwise provided in the Intercreditor Agreement as to a Borrower’s obligations, such Borrower’s properties.”

 

2.
Increase in Maximum Credit. Effective on the date hereof, the Maximum Credit shall be increased from $275,000,000 to $290,000,000
in accordance with terms hereof. The effective date for such increase shall be the date hereof. Effective on the date hereof,
each party hereto acknowledges and agrees that the amount of each Lender’s Revolving Loan Commitment as reflected below
such Lender’s signature on the signature pages to the Loan Agreement shall be deemed amended and replaced with the amounts
set forth below such Lender’s signature on the signature pages hereto.

 

3.
Conditions Precedent to Effectiveness of this Amendment. This Amendment shall not become effective until all of the following
conditions precedent shall have been satisfied in the sole discretion of Agent or waived by Agent:

 

(a)
Agent shall have received this Amendment fully executed in a sufficient number of counterparts for distribution to all parties;

 

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(b)
Agent shall have received a fully executed copy of the Castle Pines Intercreditor Agreement, in form and substance satisfactory
to Agent;

 

(c)
Agent shall have received a certificate of a duly authorized officer of each Borrower in form and substance satisfactory to Agent,
certifying (i) that attached (or previously provided) copies of such Borrower’s organizational and governing documents are
true and complete, and in full force and effect, without amendment except as shown; (ii) that an attached copy of resolutions
authorizing execution and delivery of the Financing Agreements is true and complete, and that such resolutions are in full force
and effect, were duly adopted, have not been amended, modified or revoked, and constitute all resolutions adopted with respect
to this Amendment; and (iii) to the title, name and signature of each Person authorized to sign the Financing Agreements;

 

(d)
U.S. Borrowers shall pay to Agent, for the benefit of each U.S. Lender party hereto, (i) an amendment fee in an amount equal to
0.02% of each such U.S. Lender’s aggregate U.S. Revolving Loan Commitment immediately prior to the effectiveness of this
Amendment, and (ii) an increase fee in an amount equal to 0.20% of the increase (if any) to each such U.S. Lender’s aggregate
U.S. Revolving Loan Commitment as a result of this Amendment, in each case, which fees shall be fully earned as of and payable
on the date hereof;

 

(e)
Agent shall have received a copy of that certain fee letter dated as of the date hereof, by and among Borrowers and Agent, and
Borrowers shall have paid all fees required to be paid thereunder;

 

(f)
Agent shall have received fully executed copies of the Joint Venture Documents and the Castle Pine Documents, in form and substance
satisfactory to Agent; and

 

(g)
Agent shall have received all other documents and legal matters in connection with the transactions contemplated by this Amendment
and such documents shall have been delivered or executed or recorded and shall be in form and substance satisfactory to Agent.

 

4.
Representations and Warranties. Each Borrower represents and warrants as follows:

 

(a)
Authority. Each Borrower has the requisite corporate power and authority to execute and deliver this Amendment, and to
perform its obligations hereunder and under the Financing Agreements (as amended or modified hereby) to which it is a party. The
execution, delivery and performance by each Borrower of this Amendment have been duly approved by all necessary corporate action,
have received all necessary governmental approval, if any, and do not contravene any law or any contractual restriction binding
on any Borrower. No other corporate proceedings are necessary to consummate such transactions.

 

(b)
Enforceability. This Amendment has been duly executed and delivered by each Borrower. This Amendment and each Financing
Agreement (as amended or modified hereby) is the legal, valid and binding obligation of each Borrower, enforceable against each
Borrower in accordance with its terms, and is in full force and effect.

 

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(c)
Representations and Warranties. The representations and warranties contained in each Financing Agreement (other than any
such representations or warranties that, by their terms, are specifically made as of a date other than the date hereof) are true
and correct on and as of the date hereof as though made on and as of the date hereof.

 

(d)
Due Execution. The execution, delivery and performance of this Amendment are within the power of each Borrower, have been
duly authorized by all necessary corporate or company action, have received all necessary governmental approval, if any, and do
not contravene any law or any contractual restrictions binding on such Borrower.

 

(e)
No Default. No event has occurred and is continuing that constitutes a Default or Event of Default.

 

5.
Choice of Law. The validity of this Amendment, the construction, interpretation, and enforcement hereof, and the rights
of the parties hereto with respect to all matters arising hereunder or related hereto shall be determined under, governed by,
and construed in accordance with the laws of the State of California.

 

6.
Counterparts. This Amendment may be executed in any number of counterparts and by different parties and separate counterparts,
each of which when so executed and delivered, shall be deemed an original, and all of which, when taken together, shall constitute
one and the same instrument. Delivery of an executed counterpart of a signature page to this Amendment by telefacsimile or other
electronic transmission shall be effective as delivery of a manually executed counterpart of this Amendment.

 

7.
Reference to and Effect on the Financing Agreements.

 

(a)
Upon and after the effectiveness of this Amendment, each reference in the Loan Agreement to “this Agreement”, “hereunder”,
“hereof” or words of like import referring to the Loan Agreement, and each reference in the other Financing Agreements
to “the Loan Agreement”, “thereof” or words of like import referring to the Loan Agreement, shall mean
and be a reference to the Loan Agreement as modified and amended hereby.

 

(b)
Except as specifically set forth in this Amendment, the Loan Agreement and all other Financing Agreements, are and shall continue
to be in full force and effect and are hereby in all respects ratified and confirmed and shall constitute the legal, valid, binding
and enforceable obligations of Borrowers to Agent and Lenders without defense, offset, claim or contribution.

 

(c)
The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of Agent
or any Lender under any of the Financing Agreements, nor constitute a waiver of any provision of any of the Financing Agreements.

 

8.
Ratification. Each Borrower hereby restates, ratifies and reaffirms each and every term and condition set forth in the
Loan Agreement, as amended hereby, and the other Financing Agreements effective as of the date hereof.

 

    	7

    	 

    

 

9.
Estoppel. To induce Agent and Lenders to enter into this Amendment and to induce Agent and Lenders to continue to make
advances to Borrowers under the Loan Agreement, each Borrower hereby acknowledges and agrees that, after giving effect to this
Amendment, as of the date hereof, there exists no Default or Event of Default.

 

10.
Integration. This Amendment is a Financing Agreement. This Amendment, together with the other Financing Agreements, incorporates
all negotiations of the parties hereto with respect to the subject matter hereof and is the final expression and agreement of
the parties hereto with respect to the subject matter hereof.

 

11.
Severability. In case any provision in this Amendment shall be invalid, illegal or unenforceable, such provision shall
be severable from the remainder of this Amendment and the validity, legality and enforceability of the remaining provisions shall
not in any way be affected or impaired thereby.

 

12.
Submission of Amendment. The submission of this Amendment to the parties or their agents or attorneys for review or signature
does not constitute a commitment by Agent or any Lender to waive any of their respective rights and remedies under the Financing
Agreements, and this Amendment shall have no binding force or effect until all of the conditions to the effectiveness of this
Amendment have been satisfied as set forth herein.

 

[Remainder
of Page Left Intentionally Blank]

 

    	8

    	 

    

 

IN
WITNESS WHEREOF, the parties have entered into this Amendment as of the date first above written.

 

	 	U.S.
    BORROWERS:
	 	 	 
	 	PCM,
    INC.,
	 	a
    Delaware corporation
	 	 	 
	 	By:	/s/
    Brandon LaVerne
	 	Name:	Brandon
    LaVerne
	 	Title:	CFO
	 	 	 
	 	PCM
    SALES, INC.,
	 	a
    California corporation
	 	 	 
	 	By:	/s/
    Stephen W. Moss
	 	Name:	Stephen
    W. Moss
	 	Title:	President
	 	 	 
	 	PCM
    LOGISTICS, LLC,
	 	a
    Delaware limited liability company
	 	 	 
	 	By:	/s/
    Sean Mollet
	 	Name:	Sean
    Mollet
	 	Title:	President
	 	 	 
	 	PCMG,
    INC.,
	 	a
    Delaware corporation
	 	 	 
	 	By:	/s/
    Alan Lawrence
	 	Name:	Alan
    Lawrence
	 	Title:	President

 

 

 

 

[Signature
page to First Amendment to Fourth Amended and Restated Loan and Security Agreement]

 

    	 

    	 

    

 

	 	U.S.
    BORROWERS:
	 	 	 
	 	M2
    MARKETPLACE, INC.,
	 	a
    Delaware corporation
	 	 	 
	 	By:	/s/
    Sam Khulusi
	 	Name:	Sam
    Khulusi
	 	Title:	President
	 	 	 
	 	ABREON,
    INC.,
	 	a
    Delaware corporation
	 	 	 
	 	By:	/s/
    Howard Schaphiro
	 	Name:	Howard
    Schaphiro
	 	Title:	President
	 	 	 
	 	MALL
    ACQUISITION SUB 5 INC.,
	 	a
    Delaware corporation
	 	 	 
	 	By:	/s/
    Brandon LaVerne
	 	Name:	Brandon
    LaVerne
	 	Title:	President

 

 

 

 

[Signature
page to First Amendment to Fourth Amended and Restated Loan and Security Agreement]

 

    	 

    	 

    

 

	 	U.S.
    BORROWERS:
	 	 	 
	 	PCM
    BPO, LLC,
	 	a
    Delaware limited liability company
	 	 	 
	 	By:	/s/
    Simon Abuyounes
	 	Name:	Simon
    Abuyounes
	 	Title:	President
	 	 	 
	 	ONSALE
    HOLDINGS, INC.,
	 	an
    Illinois corporation
	 	 	 
	 	By:	/s/
    Sam Khulusi
	 	Name:	Sam
    Khulusi
	 	Title:	President
	 	 	 
	 	EN
    POINTE TECHNOLOGIES SALES, LLC,
	 	a
    Delaware limited liability company
	 	 	 
	 	By:	/s/
    Michael Rapp
	 	Name:	Michael
    Rapp
	 	Title:	President

 

 

 

 

[Signature
page to First Amendment to Fourth Amended and Restated Loan and Security Agreement]

 

    	 

    	 

    

 

	 	CANADIAN
    BORROWERS:
	 	 	 
	 	PCM
    SALES CANADA, INC.,
	 	a
    Quebec corporation
	 	 	 
	 	By:	/s/
    Simon Abuyounes
	 	Name:	Simon
    Abuyounes
	 	Title:	President
	 	 	 
	 	ACRODEX
    INC.,
	 	an
    Alberta corporation
	 	 	 
	 	By:	/s/
    Yasmin Jivraj
	 	Name:	Yasmin
    Jivraj
	 	Title:	Director

 

 

 

 

[Signature
page to First Amendment to Fourth Amended and Restated Loan and Security Agreement]

 

    	 

    	 

    

 

	AGENT:	 
	 	 	 
	WELLS
    FARGO CAPITAL FINANCE, LLC	 
	 	 	 
	By:	/s/
    Peter Possemoto	 
	Name:	Peter
    Possemoto	 
	Title:	Director	 
	 	 	 
	LENDER:	 
	 	 	 
	WELLS
    FARGO CAPITAL FINANCE, LLC	 
	 	 	 
	By:	/s/
    Peter Possemoto	 
	Name:	Peter
    Possemoto	 
	Title:	Director	 

 

U.S.
Revolving Loan Commitment: $110,000,000

 

 

 

 

[Signature
page to First Amendment to Fourth Amended and Restated Loan and Security Agreement]

 

    	 

    	 

    

 

	LENDER:	 
	 	 	 
	WELLS
    FARGO CAPITAL FINANCE CORPORATION CANADA
	 	 	 
	By:
    	/s/
    David G. Phillips	 
	Name:	David
    G. Phillips	 
	Title:	Senior
    Vice President	 

 

Canadian
Revolving Loan Commitment: C$14,545,454.55

 

 

 

 

[Signature
page to First Amendment to Fourth Amended and Restated Loan and Security Agreement]

 

    	 

    	 

    

 

LENDERS:

 

BANK
OF AMERICA, N.A.

 

	By:	/s/
    Matthew R. Vansteenhuyse	 
	Name:	Matthew
    R. Vansteenhuyse	 
	Title:	Senior
    Vice President	 
	 	 	 
	U.S.
    Revolving Loan Commitment: $53,000,000	 
	 	 	 
	BANK
    OF AMERICA, N.A. (acting through its Canada branch)
	 	 	 
	By:	/s/
    Sylwia Durkiewicz	 
	Name:	Sylwia
    Durkiewicz	 
	Title:	Vice
    President	 

 

Canadian
Revolving Loan Commitment: C$7,272,727.27

 

 

 

 

[Signature
page to First Amendment to Fourth Amended and Restated Loan and Security Agreement]

 

    	 

    	 

    

 

LENDERS:

 

PNC
BANK, N.A.

 

	By:
    	/s/
    Steve Roberts	 
	Name:	Steve
    Roberts	 
	Title:	Senior
    Vice President	 
	 	 	 
	U.S.
    Revolving Loan Commitment: $40,000,000
	 	 	 
	PNC
    BANK CANADA BRANCH
	 	 	 
	By:
    	/s/
    James Bruce	 
	Name:	James
    Bruce	 
	Title:	Vice
    President	 

 

Canadian
Revolving Loan Commitment: C$5,818,181.82

 

 

 

 

[Signature
page to First Amendment to Fourth Amended and Restated Loan and Security Agreement]

 

    	 

    	 

    

 

LENDERS:

 

JPMORGAN
CHASE BANK, N.A.

 

	By:
    	/s/
    Jordan Azar	 
	Name:	Jordan
    Azar	 
	Title:	Authorized
    Officer	 
	 	 	 
	U.S.
    Revolving Loan Commitment: $37,000,000
	 	 	 
	JPMORGAN
    CHASE BANK, N.A., TORONTO BRANCH
	 	 	 
	By:
    	/s/
    Deborah Booth	 
	Name:	Deborah
    Booth	 
	Title:	Executive
    Director	 

 

Canadian
Revolving Loan Commitment: C$5,090,909.09

 

 

 

 

[Signature
page to First Amendment to Fourth Amended and Restated Loan and Security Agreement]

 

    	 

    	 

    

 

LENDER:

 

COMPASS
BANK

 

	By:	/s/
    Jason Nichols	 
	Name:	Jason
    Nichols	 
	Title:	Senior
    Vice President	 

 

U.S.
Revolving Loan Commitment: $25,000,000

 

Canadian
Revolving Loan Commitment: C$3,636,363.64

 

 

 

 

[Signature
page to First Amendment to Fourth Amended and Restated Loan and Security Agreement]

 

    	 

    	 

    

 

LENDER:

 

CITY
NATIONAL BANK

 

	By:	/s/
    Todd Hokamoto	 
	Name:	Todd
    Hokamoto	 
	Title:	Vice
    President	 

 

U.S.
Revolving Loan Commitment: $25,000,000

 

Canadian
Revolving Loan Commitment: C$3,636,363.64

 

 

 

 

[Signature
page to First Amendment to Fourth Amended and Restated Loan and Security Agreement]

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