Document:

EXHIBIT 10.1

 

 

U.S. $400,000,000

364-DAY CREDIT AGREEMENT

Dated as of April 3, 2020,

Among

OMNICOM CAPITAL INC.

as Borrower

OMNICOM GROUP INC.

as Guarantor

THE INITIAL LENDERS NAMED HEREIN

as
Initial Lenders

CITIBANK, N.A.,

BOFA SECURITIES, INC.,

MIZUHO BANK, LTD.

and

U.S. BANK NATIONAL ASSOCIATION

as
Joint Lead Arrangers and Joint Book Managers

BANK OF AMERICA, N.A.,

MIZUHO BANK, LTD.

and

U.S. BANK NATIONAL ASSOCIATION

as
Syndication Agents

and

CITIBANK, N.A.

as
Administrative Agent

 

    

    

    

TABLE OF CONTENTS

	ARTICLE I	 
	SECTION 1.01.  Certain Defined Terms	1
	SECTION 1.02.  Computation of Time Periods	10
	SECTION 1.03.  Accounting Terms	10
	SECTION 1.04.  Divisions	11
	ARTICLE II	 
	SECTION 2.01.  The Advances	11
	SECTION 2.02.  Making the Advances	11
	SECTION 2.03.  [Reserved]	12
	SECTION 2.04.  Fees	12
	SECTION 2.05.  Optional Termination or Reduction of the Commitments	12
	SECTION 2.06.  Repayment of Advances	13
	SECTION 2.07.  Interest on Advances	13
	SECTION 2.08.  Interest Rate Determination	13
	SECTION 2.09.  Optional Conversion of Advances	14
	SECTION 2.10.  Optional Prepayments of Advances	14
	SECTION 2.11.  Increased Costs	14
	SECTION 2.12.  Illegality	15
	SECTION 2.13.  Payments and Computations	15
	SECTION 2.14.  Taxes	16
	SECTION 2.15.  Sharing of Payments, Etc.	20
	SECTION 2.16.  Evidence of Debt	20
	SECTION 2.17.  Use of Proceeds	21
	SECTION 2.18.  [Reserved]	21

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	SECTION 2.19.  Defaulting Lenders	21
	SECTION 2.20.  Mitigation Obligations; Replacement of Lenders	22
	SECTION 2.21.  [Reserved]	22
	SECTION 2.22.  LIBOR Successor Rate	23
	ARTICLE III	 
	SECTION 3.01.  Conditions Precedent to Effectiveness of Section 2.01	25
	SECTION 3.02.  [Reserved]	26
	SECTION 3.03.  Conditions Precedent to Each Borrowing.	27
	SECTION 3.04.  Determinations Under Section 3.01	27
	ARTICLE IV	 
	SECTION 4.01.  Representations and Warranties of the Guarantor	27
	ARTICLE V	 
	SECTION 5.01.  Affirmative Covenants	28
	SECTION 5.02.  Negative Covenants	30
	SECTION 5.03.  Financial Covenant	32
	ARTICLE VI	 
	SECTION 6.01.  Events of Default	33
	ARTICLE VII	 
	SECTION 7.01.  Guaranty	34
	SECTION 7.02.  Guaranty Absolute	35
	SECTION 7.03.  Waivers and Acknowledgements	35
	SECTION 7.04.  Subrogation	36
	SECTION 7.05.  Subordination	36
	SECTION 7.06.  Continuing Guaranty; Assignments	37
	ARTICLE VIII	 

 

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	SECTION 8.01.  Authorization and Authority	37
	SECTION 8.02.  Rights as a Lender	37
	SECTION 8.03.  Duties of Agent; Exculpatory Provisions	37
	SECTION 8.04.  Reliance by Agent	38
	SECTION 8.05.  Delegation of Duties	38
	SECTION 8.06.  Resignation of Agent	39
	SECTION 8.07.  Non-Reliance on Agent and Other Lenders	39
	SECTION 8.08.  No Other Duties, Etc	40
	SECTION 8.09.  Lender ERISA Representation	40
	ARTICLE IX	 
	SECTION 9.01.  Amendments, Etc.	41
	SECTION 9.02.  Notices, Etc.	41
	SECTION 9.03.  No Waiver; Remedies	42
	SECTION 9.04.  Costs and Expenses	42
	SECTION 9.05.  Right of Set-off	44
	SECTION 9.06.  Binding Effect	44
	SECTION 9.07.  Assignments and Participations	44
	SECTION 9.08.  Confidentiality	48
	SECTION 9.09.  [Reserved]	48
	SECTION 9.10.  Governing Law	48
	SECTION 9.11.  Execution in Counterparts	48
	SECTION 9.12.  [Reserved]	48
	SECTION 9.13.  Jurisdiction, Etc.	48
	SECTION 9.14.  [Reserved]	49
	SECTION 9.15.  [Reserved]	49

 

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	SECTION 9.16.  Patriot Act	49
	SECTION 9.17.  No Fiduciary Duty	49
	SECTION 9.18.  Acknowledgement and Consent to Bail-In of Affected Financial Institutions	49
	SECTION 9.19.  Waiver of Jury Trial	52

 

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Schedules

Schedule I –
Commitments of the Initial Lenders

Schedule 3.01(b) -
Disclosed Litigation

Schedule 5.02(a) -
Existing Liens

Schedule 5.02(d) -
Existing Debt

Exhibits

Exhibit A -Form
of Note

Exhibit B -Form
of Notice of Borrowing

Exhibit C -Form
of Assignment and Assumption

Exhibit D -Tax
Forms

 

 

Omnicom:
364-Day Credit Agreement

 

    

    

    

364-DAY CREDIT AGREEMENT

Dated as of April 3,
2020

OMNICOM CAPITAL INC.,
a Connecticut corporation (“OCI” or the “Borrower”), OMNICOM GROUP INC., a New York corporation
(the “Guarantor”), the banks, financial institutions and other institutional lenders (the “Initial
Lenders”) listed on the signature pages hereof, and CITIBANK, N.A. (“Citibank”), as administrative
agent (the “Agent”) for the Lenders (as hereinafter defined), agree as follows:

ARTICLE I

DEFINITIONS AND ACCOUNTING
TERMS

SECTION 1.01. Certain
Defined Terms. As used in this Agreement, the following terms shall have the following meanings (such meanings to be equally
applicable to both the singular and plural forms of the terms defined):

“Acquired/Disposed
Business” means (a) any Person, assets, equity interests, entities, lines of business or divisions acquired or disposed
of, as the case may be, by the Guarantor or any Subsidiary of the Guarantor where the consideration (whether cash, stock or other
form of consideration) for the transaction is at least $200,000,000 (it being understood that such consideration shall be determined
based on the payment made at the time of the transaction, without regard to any subsequent or earnout payments); or (b) a Specified
Acquisition.

“Additional
Anti-Corruption Laws” means all laws, rules, and regulations of any jurisdiction applicable to the Guarantor or its Subsidiaries
from time to time concerning or relating to bribery or corruption, other than the Anti-Corruption Laws.

“Administrative
Questionnaire” means an Administrative Questionnaire in a form supplied by the Agent and completed by Lenders specifying
their Domestic Lending Office and Eurodollar Lending Office, among other information.

“Advance”
means an advance by a Lender to the Borrower as part of a Borrowing pursuant to Section 2.01 and may refer to a Base Rate Advance
or a Eurodollar Rate Advance (each of which shall be a “Type” of Advance).

“Affiliate”
means, as to any Person, any other Person (other than an individual) that, directly or indirectly, controls, is controlled by or
is under common control with such Person; provided that, for purposes of Section 5.01(h), an Affiliate of the Borrower shall include
any Person that (x) is a director or officer of such Person or (y) has the possession, direct or indirect, of the power to vote
5% or more of the Voting Stock of such Person. A Person shall be deemed to control another Person if such Person possesses, directly
or indirectly, the power to direct or cause the direction of the management and policies of such Person, whether through the ownership
of Voting Stock, by contract or otherwise.

“Agent’s
Account” means (a) the account of the Agent maintained by the Agent at Citibank at its office at One Penns Way,
Ops II, Floor 2, New Castle, Delaware 19720, Account No. 36852248, Attention: Bank Loan Syndications and (b) in any such
case, such other account of the Agent as is designated in writing from time to time by the Agent to the Borrower and the Lenders
for such purpose.

“Agent
Parties” has the meaning specified in Section 9.02(d)(ii).

“Anti-Corruption
Laws” means the U.S. Foreign Corrupt Practices Act, the UK Bribery Act of 2010 and the rules and regulations thereunder.

 

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“Applicable
Lending Office” means, with respect to each Lender, such Lender’s Domestic Lending Office in the case of a Base
Rate Advance and such Lender’s Eurodollar Lending Office in the case of a Eurodollar Rate Advance.

“Applicable
Margin” means as of any date, a percentage per annum determined by reference to the Public Debt Rating in effect on such
date as set forth below:

	
        Public Debt Rating

        S&P/Moody’s
	
        Applicable Margin for

        Eurodollar Rate Advances
	
        Applicable Margin for

        Base Rate Advances

	
        Level 1

        A- or A3 or above
	
         

        1.300%
	
         

        0.300%

	
        Level 2

        BBB+ or Baa1
	
         

        1.375%
	
         

        0.375%

	
        Level 2

        BBB or Baa2 or below
	
         

        1.400%
	
         

        0.400%

 

“Applicable
Percentage” means, as of any date, a percentage per annum determined by reference to the Public Debt Rating in effect
on such date as set forth below:

	
        Public Debt Rating

        S&P/Moody’s
	
        Applicable

        Percentage

	
        Level 1

        A- or A3 or above
	
         

        0.200%

	
        Level 2

        BBB+ or Baa1
	
         

        0.250%

	
        Level 3

        BBB or Baa2 or below
	
         

        0.350%

 

“Approved
Fund” means any Fund that is administered or managed by (a) a Lender, (b) an Affiliate of a Lender or (c) an entity or
an Affiliate of an entity that administers or manages a Lender.

“Assignment
and Assumption” means an assignment and assumption entered into by a Lender and an Eligible Assignee, and accepted by
the Agent, in substantially the form of Exhibit C hereto.

“Bail-In
Action” has the meaning specified in Section 9.18.

“Bankruptcy
Law” means Title 11, U.S. Code, or any similar foreign, federal or state law for the relief of debtors.

“Base
Rate” means a fluctuating interest rate per annum in effect from time to time, which rate per annum shall at all times
be not less than zero and equal to the highest of:

(a)       the
rate of interest announced publicly by Citibank in New York, New York, from time to time, as Citibank’s base rate;

(b)       1⁄2
of one percent per annum above the Federal Funds Rate; and

(c)       the
ICE Benchmark Administration Settlement Rate applicable to Dollars for a period of one month (“One Month LIBOR”)
plus 1.00% (for the avoidance of doubt, the One Month LIBOR for any day shall be based on the rate appearing on the applicable
Bloomberg screen (or any successor to or substitute for Bloomberg, providing rate quotations comparable to those currently provided
by Bloomberg, as determined by the Agent from time to time for purposes of providing

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quotations of
interest rates applicable to deposits in Dollars by reference to the ICE Benchmark Administration Settlement Rates for deposits
in Dollars) at approximately 11:00 A.M. London time on such day); provided that, if the One Month LIBOR shall be less than
1.00%, such rate shall be deemed 1.00% for purposes of this Agreement.

“Base
Rate Advance” means an Advance that bears interest as provided in Section 2.07(a)(i).

“Beneficial
Ownership Certification” means a certification regarding beneficial ownership as required by the Beneficial Ownership
Regulation.

“Beneficial
Ownership Regulation” means 31 C.F.R. § 1010.230.

“Board
of Directors” means as to any Person, the board of directors, board of managers, sole member or managing member or other
governing body of such Person, or if such Person is owned or managed by a single entity or has a general partner, the board of
directors, board of managers, sole member or managing member or other governing body of such entity or general partner, or in each
case, any duly authorized committee thereof.

“Borrowing”
means (a) with respect to the making of Advances, a borrowing consisting of simultaneous Advances of the same Type made by each
of the Lenders pursuant to Section 2.01; and (b) in other contexts (i) that portion of the Advances comprised of all outstanding
Base Rate Advances and (ii) that portion of the Advances converted into, or continued as, Eurodollar Rate Advances having the same
Interest Period.

“Borrowing
Minimum” means $5,000,000.

“Borrowing
Multiple” means $1,000,000.

“Business
Day” means a day of the year on which banks are not required or authorized by law to close in New York City and,
if the applicable Business Day relates to any Eurodollar Rate Advances, on which dealings are carried on in the London interbank
market and banks are open for business in London.

“Commitment”
means a Revolving Credit Commitment.

“Competitor”
means, as of any date, any Person that is (a) a competitor of the Guarantor or the Borrower or (b) any Affiliate of a competitor
of the Guarantor or the Borrower, which Person has been designated by the Guarantor as a “Competitor” by written notice
to the Agent and the Lenders (including by posting such notice to the Platform) effective five Business Days after such notice
is so given; provided that “Competitor” shall exclude any Person that the Guarantor has designated as no longer being
a “Competitor” by written notice delivered to the Agent from time to time.

“Confidential
Information” means information that a Loan Party furnishes to the Agent or any Lender in a writing designated as confidential.

“Consolidated”
refers to the consolidation of accounts in accordance with GAAP.

“Convert”,
“Conversion” and “Converted” each refers to a conversion of Advances of one Type into Advances
of the other Type pursuant to Section 2.08 or 2.09.

“Debt”
of any Person means, without duplication, (a) all indebtedness of such Person for borrowed money, (b) all obligations
of such Person for the deferred purchase price of property or services (other than earn-out payment obligations of such Person
in connection with the purchase of property or services to the extent they are still contingent), (c) all obligations of such
Person evidenced by notes, bonds, debentures or other similar instruments, (d) all obligations of such Person created or arising
under any conditional sale or other title retention agreement with respect to property acquired by such Person (even though the
rights and

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remedies of
the seller or lender under such agreement in the event of default are limited to repossession or sale of such property), (e) all
obligations of such Person as lessee under leases that have been or should be, in accordance with GAAP, recorded as finance leases,
(f) all obligations, contingent or otherwise, of such Person in respect of acceptances, letters of credit or similar extensions
of credit, (g) all obligations of such Person in respect of Hedge Agreements, (h) all Debt of others referred to in clauses (a)
through (g) above or clause (i) below and other payment obligations guaranteed directly or indirectly in any manner by such
Person, or in effect guaranteed directly or indirectly by such Person through an agreement (1) to pay or purchase such Debt
or to advance or supply funds for the payment or purchase of such Debt, (2) to purchase, sell or lease (as lessee or lessor)
property, or to purchase or sell services, primarily for the purpose of enabling the debtor to make payment of such Debt or to
assure the holder of such Debt against loss, (3) to supply funds to or in any other manner invest in the debtor (including
any agreement to pay for property or services irrespective of whether such property is received or such services are rendered)
or (4) otherwise to assure a creditor against loss, and (i) all Debt referred to in clauses (a) through (h) above
secured by (or for which the holder of such Debt has an existing right, contingent or otherwise, to be secured by) any Lien on
property (including, without limitation, accounts and contract rights) owned by such Person, even though such Person has not assumed
or become liable for the payment of such Debt.

“Debt
for Borrowed Money” of any Person means all items that, in accordance with GAAP, would be classified as indebtedness
on a Consolidated balance sheet of such Person.

“Default”
means any Event of Default or any event that would constitute an Event of Default but for the requirement that notice be given
or time elapse or both.

“Defaulting
Lender” means, subject to Section 2.19(d), at any time, any Lender that, at such time (a) has failed to perform any of
its funding obligations hereunder, including in respect of its Advances, within two Business Days of the date required to be funded
by it hereunder, (b) has notified the Borrower or the Agent in writing that it does not intend to comply with its funding obligations
generally or has made a public statement to that effect with respect to its funding obligations hereunder or generally under other
agreements in which it commits to extend credit, (c) has failed, within three Business Days after written request by the Agent
(based on its reasonable belief that such Lender may not fulfill its funding obligations hereunder), to confirm in a manner satisfactory
to the Agent that it will comply with its funding obligations hereunder, provided that such Lender shall cease to be a Defaulting
Lender upon receipt of such written confirmation by the Agent and the Agent’s written notice to the Defaulting Lender and
the Borrower that such confirmation is satisfactory, or (d) has, or has a direct or indirect parent company that has, (i) become
the subject of a debtor relief law or a Bail-In Action, (ii) had a receiver, conservator, trustee, administrator, assignee for
the benefit of creditors or similar Person charged with reorganization or liquidation of its business or a custodian appointed
for it, or (iii) taken any action in furtherance of, or indicated its consent to, approval of or acquiescence in any such proceeding
or appointment; provided that, for the avoidance of doubt, a Lender shall not be a Defaulting Lender solely by virtue of (1) the
control, ownership or acquisition of any equity interest in that Lender or any direct or indirect parent company thereof by a governmental
authority or (2) in the case of a solvent Lender, the precautionary appointment of an administrator, guardian, custodian or other
similar official by a government authority under or based on the law of the country where such lender is subject to home jurisdiction
supervision if applicable law requires that such appointment not be publicly disclosed, so long as, in the case of clause (1) and
clause (2), such action does not result in or provide such Lender with immunity from the jurisdiction of courts within the United
States or from the enforcement of judgments or writs of attachment on its assets or permit such Lender (or such governmental authority
or instrumentality) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Person.

“Disclosed
Litigation” has the meaning specified in Section 3.01(b).

“Dollars”
and the “$” sign each means lawful currency of the United States of America.

“Domestic
Lending Office” means, with respect to any Lender, the office of such Lender specified as its “Domestic Lending
Office” in its Administrative Questionnaire delivered to the Agent, or such other

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office, branch
or Affiliate of such Lender as such Lender may from time to time specify to the Borrower and the Agent.

“EBITDA”
means, for any period, net income (or net loss) plus the sum of (a) net interest expense, (b) income tax expense, (c) depreciation
expense, (d) amortization expense and (e) non-cash charges, in each case determined in accordance with GAAP for such period;
provided, that for purposes of calculating EBITDA for the Guarantor and its Subsidiaries for any period, the EBITDA of any
Acquired/Disposed Business acquired or disposed of by the Guarantor or any of its Subsidiaries during such period shall be included
or excluded, as the case may be, on a pro forma basis for such period (as if the consummation of such acquisition or disposition
occurred on the first day of such period).

“Effective
Date” has the meaning specified in Section 3.01.

“Eligible
Assignee” means any Person that meets the requirements to be an assignee under Section 9.07(b)(iii), (v) and (vi) (subject
to such consents, if any, as may be required under Section 9.07(b)(iii)).

“Environmental
Action” means any action, suit, demand, demand letter, claim, notice of non-compliance or violation, notice of liability
or potential liability, investigation, proceeding, consent order or consent agreement relating in any way to any Environmental
Law, Environmental Permit or hazardous materials or arising from alleged injury or threat of injury to health, safety or the environment,
including, without limitation, (a) by any governmental or regulatory authority for enforcement, cleanup, removal, response,
remedial or other actions or damages and (b) by any governmental or regulatory authority or any third party for damages, contribution,
indemnification, cost recovery, compensation or injunctive relief.

“Environmental
Law” means any federal, state, local or foreign statute, law, ordinance, rule, regulation, code, order, judgment, decree
or judicial or agency interpretation, policy or guidance relating to pollution or protection of the environment, health, safety
or natural resources, including, without limitation, those relating to the use, handling, transportation, treatment, storage, disposal,
release or discharge of hazardous materials.

“Environmental
Permit” means any permit, approval, identification number, license or other authorization required under any Environmental
Law.

“ERISA”
means the Employee Retirement Income Security Act of 1974, as amended from time to time, and the regulations promulgated and rulings
issued thereunder.

“ERISA
Affiliate” means any Person that for purposes of Title IV of ERISA is a member of the Guarantor’s controlled
group, or under common control with the Guarantor, within the meaning of Section 414 of the Internal Revenue Code.

“ERISA
Event” means (a) the occurrence of a reportable event, within the meaning of Section 4043 of ERISA, with respect
to any Plan unless the 30-day notice requirement with respect to such event has been waived by the PBGC, (b) the application
for a minimum funding waiver with respect to a Plan; (c) the provision by the administrator of any Plan of a notice of intent
to terminate such Plan pursuant to Section 4041(a)(2) of ERISA (including any such notice with respect to a plan amendment
referred to in Section 4041(e) of ERISA); (d) the cessation of operations at a facility of the Guarantor or any ERISA
Affiliate in the circumstances described in Section 4062(e) of ERISA; (e) the withdrawal by the Guarantor or any ERISA
Affiliate from a Multiple Employer Plan during a plan year for which it was a substantial employer, as defined in Section 4001(a)(2)
of ERISA; (f)  the conditions for the imposition of a lien under Section 303(k) of ERISA shall have been met with respect
to any Plan; or (g) the institution by the PBGC of proceedings to terminate a Plan pursuant to Section 4042 of ERISA,
or the occurrence of any event or condition described in Section 4042 of ERISA that constitutes grounds for the termination
of, or the appointment of a trustee to administer, a Plan.

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“Eurodollar
Lending Office” means, with respect to any Lender, the office or branch of such Lender specified as its “Eurodollar
Lending Office” in its Administrative Questionnaire delivered to the Agent, or such other office, branch or Affiliate of
such Lender as such Lender may from time to time specify to the Borrower and the Agent.

“Eurocurrency
Liabilities” has the meaning assigned to that term in Regulation D of the Board of Governors of the Federal Reserve
System, as in effect from time to time.

“Eurodollar
Rate” means, for any Interest Period for each Eurodollar Rate Advance comprising part of the same Borrowing, an interest
rate per annum not less than zero and equal to the rate per annum obtained by dividing (a) the rate per annum (rounded upward to
the nearest whole multiple of 1/16 of 1% per annum) appearing on the applicable Bloomberg screen as the London interbank offered
rate for deposits in Dollars at approximately 11:00 A.M. (London time) two Business Days prior to the first day of such Interest
Period for a term comparable to such Interest Period by (b) a percentage equal to 100% minus the Eurodollar Rate Reserve Percentage
for such Interest Period; provided that, if the rate determined under this clause (a) shall be less than zero, such rate
shall be deemed to be zero for purposes of this Agreement.

“Eurodollar
Rate Advance” means an Advance that bears interest as provided in Section 2.07(a)(ii).

“Eurodollar
Rate Reserve Percentage” for any Interest Period for all Eurodollar Rate Advances comprising part of the same Borrowing
means the reserve percentage applicable two Business Days before the first day of such Interest Period under regulations issued
from time to time by the Board of Governors of the Federal Reserve System (or any successor) for determining the maximum reserve
requirement (including, without limitation, any emergency, supplemental or other marginal reserve requirement) for a member bank
of the Federal Reserve System in New York City with respect to liabilities or assets consisting of or including Eurocurrency
Liabilities (or with respect to any other category of liabilities that includes deposits by reference to which the interest rate
on Eurodollar Rate Advances is determined) having a term equal to such Interest Period.

“Events
of Default” has the meaning specified in Section 6.01.

“FATCA”
means Sections 1471 through 1474 of the Internal Revenue Code, as of the date of this Agreement (or any amended or successor version
that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official
interpretations thereof, any agreements entered into pursuant to Section 1471(b)(1) of the Internal Revenue Code (or any amended
or successor version described above), any published intergovernmental agreement entered into in connection with the implementation
of such Sections of the Internal Revenue Code and any fiscal or regulatory legislation adopted pursuant to such published intergovernmental
agreements.

“Federal
Funds Rate” means, for any period, a fluctuating interest rate per annum equal for each day during such period to the
weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System, as published
for such day (or, if such day is not a Business Day, for the next preceding Business Day) by the Federal Reserve Bank of New York,
or, if such rate is not so published for any day that is a Business Day, the average of the quotations for such day on such transactions
received by the Agent from three Federal funds brokers of recognized standing selected by it; provided that, if the Federal
Funds Rate shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement.

“Fund”
means any Person (other than a natural Person) that is (or will be) engaged in making, purchasing, holding or otherwise investing
in commercial loans and similar extensions of credit in the ordinary course of its activities.

“GAAP”
has the meaning specified in Section 1.03.

“Guaranteed
Obligations” has the meaning specified in Section 7.01.

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“Guaranty”
means the provisions of Article VII.

“Hedge
Agreements” means interest rate swap, cap or collar agreements, interest rate future or option contracts, currency swap
agreements, currency future or option contracts and other similar agreements.

“Interest
Period” means, for each Eurodollar Rate Advance comprising part of the same Borrowing, the period commencing on the date
of such Eurodollar Rate Advance or the date of the Conversion of any Base Rate Advance into such Eurodollar Rate Advance and ending
on the last day of the period selected by the Borrower pursuant to the provisions below and, thereafter, with respect to Eurodollar
Rate Advances, each subsequent period commencing on the last day of the immediately preceding Interest Period and ending on the
last day of the period selected by the Borrower pursuant to the provisions below. The duration of each such Interest Period shall
be one, two, three or six months as the Borrower may, upon notice received by the Agent not later than 11:00 A.M. (New York
City time) on the third Business Day prior to the first day of such Interest Period, select; provided, however, that:

(a)       the
Borrower may not select any Interest Period that ends after the Termination Date;

(b)       Interest
Periods commencing on the same date for Eurodollar Rate Advances comprising part of the same Borrowing shall be of the same duration;

(c)       whenever
the last day of any Interest Period would otherwise occur on a day other than a Business Day, the last day of such Interest Period
shall be extended to occur on the next succeeding Business Day, provided, however, that, if such extension would cause the last
day of such Interest Period to occur in the next following calendar month, the last day of such Interest Period shall occur on
the next preceding Business Day; and

(d)       whenever
the first day of any Interest Period occurs on a day of an initial calendar month for which there is no numerically corresponding
day in the calendar month that succeeds such initial calendar month by the number of months in such Interest Period, such Interest
Period shall end on the last Business Day of such succeeding calendar month.

“Internal
Revenue Code” means the Internal Revenue Code of 1986, as amended from time to time, and the regulations promulgated
and rulings issued thereunder.

“Lenders”
means the Initial Lenders and each Person that shall become a party hereto pursuant to Section 9.07.

“Lien”
means any lien, security interest or other charge or encumbrance of any kind, or any other type of preferential arrangement intended
to provide security for the payment or performance of an obligation, including, without limitation, the lien or retained security
title of a conditional vendor and any easement, right of way or other encumbrance on title to real property.

“Loan
Party” means the Borrower and the Guarantor.

“Material
Adverse Change” means any material adverse change in the business, financial condition, operations, performance or properties
of the Guarantor or the Guarantor and its Subsidiaries taken as a whole.

“Material
Adverse Effect” means a material adverse effect on (a) the business, financial condition, operations, performance
or properties of the Guarantor or the Guarantor and its Subsidiaries taken as a whole, (b) the rights and remedies of the
Agent or any Lender under this Agreement or any Note or (c) the ability of any Loan Party to perform its obligations under
this Agreement or any Note.

“Material
Subsidiary” means (i) the Borrower, (ii) any Subsidiary of the Guarantor for which the assets or revenues of such Subsidiary
and its Subsidiaries, taken as a whole, comprise more than 5% of the

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assets or revenues, respectively,
of the Guarantor and its Subsidiaries, taken as a whole or (iii) any group of Subsidiaries that do not meet the requirements of
clauses (i) and (ii) if the aggregate assets and revenues of all such Subsidiaries and their Subsidiaries comprise more than 15%
of the assets or revenues, respectively, of the Guarantor and its Subsidiaries taken as a whole.

“Moody’s”
means Moody’s Investors Service, Inc.

“Multiemployer
Plan” means a multiemployer plan, as defined in Section 4001(a)(3) of ERISA, to which the Guarantor or any ERISA
Affiliate is making or accruing an obligation to make contributions, or has within any of the preceding five plan years made or
accrued an obligation to make contributions.

“Multiple
Employer Plan” means a single employer plan, as defined in Section 4001(a)(15) of ERISA, that (a) is maintained
for employees of the Guarantor or any ERISA Affiliate and at least one Person other than the Guarantor and the ERISA Affiliates
or (b) was so maintained and in respect of which the Guarantor or any ERISA Affiliate could have liability under Section 4064
or 4069 of ERISA in the event such plan has been or were to be terminated.

“Non-Consenting
Lender” means any Lender that does not approve any consent, waiver or amendment that (i) requires the approval of all
Lenders or all affected Lenders in accordance with the terms of Section 9.01 and (ii) has been approved by the Required Lenders.

“Note”
means a promissory note of the Borrower payable to a Lender, delivered pursuant to a request made under Section 2.16 in substantially
the form of Exhibit A hereto, evidencing the aggregate indebtedness of the Borrower to such Lender resulting from the Advances
made by such Lender.

“Notice
of Borrowing” has the meaning specified in Section 2.02(a).

“Patriot
Act” has the meaning specified in Section 9.16.

“PBGC”
means the Pension Benefit Guaranty Corporation (or any successor).

“Permitted
Liens” means such of the following as to which no enforcement, collection, execution, levy or foreclosure proceeding
shall have been commenced: (a) Liens for taxes, assessments and governmental charges or levies to the extent not required
to be paid under Section 5.01(b) hereof; (b) Liens imposed by law, such as materialmen’s, mechanics’, carriers’,
workmen’s and repairmen’s Liens and other similar Liens arising in the ordinary course of business securing obligations
that are not overdue for a period of more than 30 days or that are being contested in good faith and by appropriate proceedings
that prevent the forfeiture or sale of the assets subject to such Lien; (c) pledges or deposits to secure obligations under
workers’ compensation laws or similar legislation or to secure public or statutory obligations or, in any such case, to secure
reimbursement obligations under letters of credit or bonds issued to support such obligations; and (d) easements, rights of
way and other encumbrances on title to real property that do not render title to the property encumbered thereby unmarketable or
materially adversely affect the use of such property for its present purposes.

“Person”
means an individual, partnership, corporation (including a business trust), joint stock company, trust, unincorporated association,
joint venture, limited liability company or other entity, or a government or any political subdivision or agency thereof.

“Plan”
means a Single Employer Plan or a Multiple Employer Plan.

“Post-Petition
Interest” has the meaning specified in Section 7.05.

“Public
Debt Rating” means, as of any date, the rating that has been most recently announced by either S&P or Moody’s,
as the case may be, for any class of non-credit enhanced long-term senior unsecured debt issued by the Guarantor or, if either
such rating agency shall have issued more than one such rating, the

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lowest such
rating issued by such rating agency. For purposes of the foregoing, (a) if only one of S&P and Moody’s shall have
in effect a Public Debt Rating, the Applicable Margin and the Applicable Percentage shall be determined by reference to the available
rating; (b) if neither S&P nor Moody’s shall have in effect a Public Debt Rating, the Applicable Margin and the
Applicable Percentage will be set in accordance with Level 3 under the definition of “Applicable Margin” or “Applicable
Percentage”, as the case may be; (c) if the ratings established by S&P and Moody’s shall fall within different
levels, the Applicable Margin and the Applicable Percentage shall be based upon the higher rating unless such rating differs by
two or more levels, in which case the applicable level will be deemed to be one level above the lower of such levels; (d) if
any rating established by S&P or Moody’s shall be changed, such change shall be effective as of the date on which such
change is first announced publicly by the rating agency making such change; and (e) if S&P or Moody’s shall change
the basis on which ratings are established, each reference to the Public Debt Rating announced by S&P or Moody’s, as
the case may be, shall refer to the then equivalent rating by S&P or Moody’s, as the case may be.

“Ratable
Share” of any amount means, with respect to any Lender at any time, the product of such amount times a fraction the numerator
of which is the amount of such Lender’s Revolving Credit Commitment at such time (or, if the Revolving Credit Commitments
shall have been terminated pursuant to Section 2.05 or 6.01, the aggregate principal amount of such Lender’s Advances)
and the denominator of which is the aggregate amount of all Revolving Credit Commitments at such time (or, if the Revolving Credit
Commitments shall have been terminated pursuant to Section 2.05 or 6.01, the aggregate principal amount of all outstanding
Advances).

“Register”
has the meaning specified in Section 9.07(c).

“Related
Parties” means, with respect to any Person, such Person’s Affiliates and the partners, directors, officers, employees,
agents and advisors of such Person and of such Person’s Affiliates.

“Required
Lenders” means at any time Lenders owed at least a majority in interest of the then aggregate unpaid principal amount
of the Advances owing to Lenders, or, if no such principal amount is then outstanding, Lenders having at least a majority in interest
of the Revolving Credit Commitments; provided that if any Lender shall be a Defaulting Lender at such time, there shall
be excluded from the determination of Required Lenders at such time the Revolving Credit Commitments of such Defaulting Lender
at such time.

“Revolving
Credit Commitment” means as to any Lender (a) the Dollar amount set forth opposite such Lender’s name on the
Schedule I hereto as such Lender’s “Revolving Credit Commitment” or (b) if such Lender has entered into
any Assignment and Assumption, the Dollar amount set forth for such Lender in the Register maintained by the Agent pursuant to
Section 9.07(c), as such amount may be reduced in accordance with the terms hereof.

“S&P”
means S&P Global Ratings.

“Sanctions”
means economic or financial sanctions or trade embargoes imposed, administered or enforced from time to time by (a) the Office
of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State, or (b) the European Union, the
United Nations Security Council, the Australian Department of Foreign Affairs and Trade or Her Majesty’s Treasury of the
United Kingdom.

“Sanctioned
Country” means, at any time, a region, country or territory which is the subject or target of any comprehensive territorial
Sanctions.

“Sanctioned
Person” means, at any time, (a) any Person listed in any Sanctions-related list of designated Persons maintained by the
Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State, or (b) any Person located,
organized or resident in a Sanctioned Country.

“SEC”
has the meaning specified in Section 5.01(h)(iv).

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“Single
Employer Plan” means a single employer plan, as defined in Section 4001(a)(15) of ERISA, that (a) is maintained
for employees of the Guarantor or any ERISA Affiliate and no Person other than the Guarantor and the ERISA Affiliates or (b) was
so maintained and in respect of which the Guarantor or any ERISA Affiliate could have liability under Section 4069 of ERISA
in the event such plan has been or were to be terminated.

“Specified
Acquisition” means one or more acquisitions of assets, equity interests, entities, operating lines or divisions in any
fiscal quarter for an aggregate purchase price of not less than $200,000,000 (it being understood that such consideration shall
be determined based on the payment made at the time of the transaction, without regard to any subsequent or earnout payments).

“Subordinated
Obligations” has the meaning specified in Section 7.05.

“Subsidiary”
of any Person means any corporation, partnership, joint venture, limited liability company, trust or estate of which (or in which)
more than 50% of (a) the issued and outstanding Voting Stock of such Person, (b) the interest in the capital or profits
of such limited liability company, partnership or joint venture or (c) the beneficial interest in such trust or estate is
at the time directly or indirectly owned or controlled by such Person, by such Person and one or more of its other Subsidiaries
or by one or more of such Person’s other Subsidiaries.

“Termination
Date” means the earlier of (a) April 2, 2021 and (b) the date of termination in whole of the Commitments pursuant to
Section 2.05 or 6.01.

“Unused
Commitment” means, with respect to each Lender at any time, (a) such Lender’s Revolving Credit Commitment at such
time minus (b) the aggregate principal amount of all Advances made by such Lender and outstanding at such time,.

“VAT”
means (a) any tax imposed in compliance with the EU Council Directive of 28 November 2006 on the common system of value added tax
(EC Directive 2006/112), and (b) any other tax of a similar nature, whether imposed in a member state of the European Union in
substitution for, or levied in addition to, such tax referred to in paragraph (a), or imposed elsewhere.

“Voting
Stock” means capital stock issued by a corporation, or equivalent interests in any other Person, the holders of which
are ordinarily, in the absence of contingencies, entitled to vote for the election of directors (or persons performing similar
functions) of such Person, even if the right so to vote has been suspended by the happening of such a contingency.

SECTION 1.02. Computation
of Time Periods. In this Agreement in the computation of periods of time from a specified date to a later specified date, the
word “from” means “from and including” and the words “to” and “until” each mean
“to but excluding”.

SECTION 1.03. Accounting
Terms. All accounting terms not specifically defined herein shall be construed in accordance with U.S. generally accepted accounting
principles consistent with those applied in the preparation of the financial statements referred to in Section 4.01(e) (“GAAP”),
provided that (a) if there is any change in GAAP from such principles applied in the preparation of the audited financial
statements referred to in Section 4.01(e) (“Initial GAAP”), that is material in respect of the calculation
of compliance with the covenants set forth in Section 5.02 or 5.03, the Guarantor shall give prompt notice of such change to the
Agent and the Lenders and (b) if the Guarantor notifies the Agent that the Guarantor requests an amendment of any provision hereof
to eliminate the effect of any change in GAAP (or the application thereof) from Initial GAAP (or if the Agent or the Required Lenders
request an amendment of any provision hereof for such purpose), regardless of whether such notice is given before or after such
change in GAAP (or the application thereof), then such provision shall be applied on the basis of such generally accepted accounting
principles as in effect and applied immediately before such change shall have become effective until such notice shall have been
withdrawn or such provision is amended in accordance herewith. Notwithstanding any other provision contained herein, all terms
of an accounting or financial nature used herein shall be construed, and all computations of amounts and ratios referred to herein
shall be made (i) without giving effect to

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any election under
Accounting Standards Codification 825-10-25 (or any other Accounting Standards Codification or Financial Accounting Standard having
a similar result or effect) to value any indebtedness or other liabilities of the Guarantor or any Subsidiary at “fair value”,
as defined therein and (ii) without giving effect to any treatment of indebtedness under Accounting Standards Codification 825
(or any other Accounting Standards Codification or Financial Accounting Standard having a similar result or effect) to value any
such indebtedness in a reduced manner as described therein, and such indebtedness shall at all times be valued at the full stated
principal amount thereof. For the avoidance of doubt, all liabilities related to operating leases, as defined by FASB ASC 842 (or
any successor provision), are excluded from the definition of Debt and payments related to operating leases are not included in
interest expense in part or in whole.

SECTION 1.04. Divisions.
For all purposes under this Agreement, in connection with any division or plan of division under Delaware law (or any comparable
event under a different jurisdiction’s laws): (a) if any asset, right, obligation or liability of any Person becomes the
asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original
Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized
and acquired on the first date of its existence by the holders of its equity interests at such time.

ARTICLE II

AMOUNTS AND TERMS OF
THE ADVANCES

SECTION 2.01. The
Advances . Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to the Borrower
from time to time on any Business Day during the period from the Effective Date until the Termination Date in an amount not to
exceed such Lender’s Unused Commitment at such time. Each Borrowing under this Section 2.01(a) shall be in an amount not
less than the Borrowing Minimum or an integral multiple of the Borrowing Multiple in excess thereof and shall consist of Advances
of the same Type made on the same day by the Lenders ratably according to their respective Revolving Credit Commitments. Within
the limits of each Lender’s Revolving Credit Commitment, the Borrower may borrow under this Section 2.01(a), prepay pursuant
to Section 2.10 and reborrow under this Section 2.01(a).

SECTION 2.02. Making
the Advances. (a) Each Borrowing shall be made on notice, given not later than (x) 11:00 A.M. (New York City
time) on the third Business Day prior to the date of the proposed Borrowing in the case of a Borrowing consisting of Eurodollar
Rate Advances or (y) 11:00 A.M. (New York City time) on the date of the proposed Borrowing in the case of a Borrowing consisting
of Base Rate Advances, by the Borrower to the Agent, which shall give to each Lender prompt notice thereof by telecopier or email.
Each such notice of a Borrowing (a “Notice of Borrowing”) shall be in writing, by telecopier or email, in substantially
the form of Exhibit B hereto, specifying therein the requested (i) date of such Borrowing, (ii) Type of Advances
comprising such Borrowing, (iii) aggregate amount of such Borrowing, and (iv) in the case of a Borrowing consisting of
Eurodollar Rate Advances, initial Interest Period for each such Advance. Each Lender shall, before 1:00 P.M. (New York
City time) on the date of such Borrowing, make available for the account of its Applicable Lending Office to the Agent at the applicable
Agent’s Account, in same day funds, such Lender’s ratable portion of such Borrowing. After the Agent’s receipt
of such funds and upon fulfillment of the applicable conditions set forth in Article III, the Agent will make such funds available
to the Borrower at the Agent’s address referred to in Section 9.02.

(b)       Anything
in subsection (a) above to the contrary notwithstanding, (i) the Borrower may not select Eurodollar Rate Advances for
any Borrowing if the aggregate amount of such Borrowing is less than the Borrowing Minimum or if the obligation of the Lenders
to make Eurodollar Rate Advances shall then be suspended pursuant to Section 2.08 or 2.12 and (ii) the Eurodollar Rate
Advances may not be outstanding as part of more than six separate Borrowings.

(c)       Each
Notice of Borrowing shall be irrevocable and binding on the Borrower. In the case of any Borrowing that the related Notice of Borrowing
specifies is to be comprised of Eurodollar Rate Advances, the Borrower shall indemnify each Lender against any loss, cost or expense
incurred by such Lender as a result of any failure to fulfill on or before the date specified in such Notice of Borrowing for such
Borrowing the applicable conditions set forth in Article III, including, without limitation, any loss (including loss of anticipated
profits), cost or expense incurred by reason of the liquidation or reemployment of deposits or other funds acquired by such Lender
to

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fund the Advance to
be made by such Lender as part of such Borrowing when such Advance, as a result of such failure, is not made on such date.

(d)       Unless
the Agent shall have received notice from a Lender prior to the time of any Borrowing that such Lender will not make available
to the Agent such Lender’s ratable portion of such Borrowing, the Agent may assume that such Lender has made such portion
available to the Agent on the date of such Borrowing in accordance with subsection (a) of this Section 2.02 and the Agent
may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent
that such Lender shall not have so made such ratable portion available to the Agent, such Lender and the Borrower severally agree
to repay to the Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date
such amount is made available to the Borrower until the date such amount is repaid to the Agent, at (i) in the case of the
Borrower, the higher of (A) the interest rate applicable at the time to Advances comprising such Borrowing and (B) the cost of
funds incurred by the Agent in respect of such amount and (ii) in the case of such Lender, the Federal Funds Rate. If such
Lender shall repay to the Agent such corresponding amount, such amount so repaid shall constitute such Lender’s Advance as
part of such Borrowing for purposes of this Agreement.

(e)       The
failure of any Lender to make the Advance to be made by it as part of any Borrowing shall not relieve any other Lender of its obligation,
if any, hereunder to make its Advance on the date of such Borrowing, but no Lender shall be responsible for the failure of any
other Lender to make the Advance to be made by such other Lender on the date of any Borrowing.

SECTION 2.03. [Reserved].

SECTION 2.04. Fees.
(a) Facility Fee. The Borrower agrees to pay to the Agent for the account of each Lender a facility fee on the aggregate
amount of such Lender’s Revolving Credit Commitment from the Effective Date in the case of each Initial Lender and from the
effective date specified in the Assignment and Assumption pursuant to which it became a Lender in the case of each other Lender
until the Termination Date at a rate per annum equal to the Applicable Percentage in effect from time to time, payable in arrears
quarterly on the last day of each March, June, September and December, commencing June 30, 2020, and on the Termination Date; provided
that no Defaulting Lender shall be entitled to receive any facility fee in respect of its Revolving Credit Commitment for any period
during which that Lender is a Defaulting Lender (and the Borrower shall not be required to pay such fee that otherwise would have
been required to have been paid to that Defaulting Lender), other than a facility fee, as described above, on the aggregate principal
amount of Advances funded by such Defaulting Lender outstanding from time to time.

(b)       [Reserved].

(c)       Agent’s
Fees. The Borrower shall pay to the Agent for its own account such fees as may from time to time be agreed between the Guarantor
and the Agent.

SECTION 2.05. Optional
Termination or Reduction of the Commitments. (a) Ratable Termination or Reduction. The Borrower shall have the right,
upon at least five Business Days’ notice to the Agent, to terminate in whole or permanently reduce ratably in part the Unused
Revolving Credit Commitments of the Lenders, provided that each partial reduction shall be in the aggregate amount of $5,000,000
or an integral multiple of $1,000,000 in excess thereof.

(b)       Termination
of Defaulting Lender. The Borrower may terminate the Unused Commitment of any Lender that is a Defaulting Lender upon prior
notice of not less than one Business Day to the Agent (which shall promptly notify the Lenders thereof), and in such event the
provisions of Section 2.19(e) shall apply to all amounts thereafter paid by the Borrower for the account of such Defaulting Lender
under this Agreement (whether on account of principal, interest, facility fees or other amounts), provided that (i) no Default
shall have occurred and be continuing and (ii) such termination shall not be deemed to be a waiver or release of any claim the
Borrower, the Agent or any Lender may have against such Defaulting Lender.

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SECTION 2.06. Repayment
of Advances . The Borrower shall repay to the Agent for the ratable account of each Lender on the Termination Date the aggregate
principal amount of the Advances then outstanding.

SECTION 2.07. Interest
on Advances. (a) Scheduled Interest. The Borrower shall pay interest on the unpaid principal amount of each Advance
owing to each Lender from the date of such Advance until such principal amount shall be paid in full, at the following rates per
annum:

(i)       Base
Rate Advances. During such periods as such Advance is a Base Rate Advance, a rate per annum equal at all times to the sum of
(x) the Base Rate in effect from time to time plus (y) the Applicable Margin in effect from time to time, payable in
arrears quarterly on the last day of each March, June, September and December during such periods and on the date such Base Rate
Advance shall be Converted or paid in full.

(ii)       Eurodollar
Rate Advances. During such periods as such Advance is a Eurodollar Rate Advance, a rate per annum equal at all times during
each Interest Period for such Advance to the sum of (x) the Eurodollar Rate for such Interest Period for such Advance plus
(y) the Applicable Margin in effect from time to time, payable in arrears on the last day of such Interest Period and, if
such Interest Period has a duration of more than three months, on each day that occurs during such Interest Period every three
months from the first day of such Interest Period and on the date such Eurodollar Rate Advance shall be Converted or paid in full.

(b)       Default
Interest. Upon the occurrence and during the continuance of an Event of Default under Section 6.01(a), the Agent may,
and upon the request of the Required Lenders shall, require the Borrower to pay interest (“Default Interest”)
on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i)
or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Advance
pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest,
fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall
be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all
times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above;
provided, however, that following acceleration of the Advances pursuant to Section 6.01, Default Interest shall accrue and be payable
hereunder whether or not previously required by the Agent.

SECTION 2.08. Interest
Rate Determination. (a) The Agent shall give prompt notice to the Borrower and the Lenders of the applicable interest rate
determined by the Agent for purposes of Section 2.07(a)(i) or (ii).

(b)       If,
with respect to any Eurodollar Rate Advances, the Required Lenders notify the Agent that (i) they are unable to obtain matching
deposits in the London inter-bank market at or about 11:00 A.M. (London time) on the second Business Day before the making of a
Borrowing in sufficient amounts to fund their respective Advances as a part of such Borrowing during its Interest Period or (ii) the
Eurodollar Rate for any Interest Period for such Advances will not adequately reflect the cost to such Required Lenders of making,
funding or maintaining their respective Eurodollar Rate Advances for such Interest Period, the Agent shall forthwith so notify
the Borrower and the Lenders, whereupon (A) the Borrower will, on the last day of the then existing Interest Period therefor,
either (x) prepay such Advances or (y) Convert such Advances into Base Rate Advances and (B) the obligation of the Lenders
to make, or to Convert Advances into, Eurodollar Rate Advances shall be suspended until the Agent shall notify the Borrower and
the Lenders that the circumstances causing such suspension no longer exist.

(c)       If
the Borrower shall fail to select the duration of any Interest Period in accordance with the provisions contained in the definition
of “Interest Period” in Section 1.01 for any Eurodollar Rate Advances made to it, the Agent will forthwith so
notify the Borrower and the Lenders and such Advances will automatically, on the last day of the then existing Interest Period
therefor, Convert into Base Rate Advances.

(d)       On
the date on which the aggregate unpaid principal amount of Eurodollar Rate Advances comprising any Borrowing shall be reduced,
by payment or prepayment or otherwise, to less than the Borrowing Minimum, such Advances shall automatically Convert into Base
Rate Advances.

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(e)       Upon
the occurrence and during the continuance of any Event of Default under Section 6.01(a), (i) each Eurodollar Rate Advance
will automatically, on the last day of the then existing Interest Period therefor, be Converted into Base Rate Advances and (ii) the
obligation of the Lenders to make, or to Convert Advances into, Eurodollar Rate Advances shall be suspended.

(f)       If
the applicable Bloomberg screen (or any successor to or substitute for Bloomberg, providing rate quotations comparable to those
currently provided by Bloomberg, as determined by the Agent from time to time for purposes of providing quotations of interest
rates applicable to deposits in Dollars by reference to the ICE Benchmark Administration Settlement Rates for deposits in Dollars)
is unavailable for determining the Eurodollar Rate for any Eurodollar Rate Advances,

(i)       the
Agent shall forthwith notify the Borrower and the Lenders that the interest rate cannot be determined for such Eurodollar Rate
Advances,

(ii)       with
respect to Eurodollar Rate Advances, each such Advance will automatically, on the last day of the then existing Interest Period
therefor, Convert into a Base Rate Advance (or if such Advance is then a Base Rate Advance, will continue as a Base Rate Advance),
and

(iii)       the
obligation of the Lenders to make Eurodollar Rate Advances or to Convert Advances into Eurodollar Rate Advances shall be suspended
until the Agent shall notify the Borrower and the Lenders that the circumstances causing such suspension no longer exist.

SECTION 2.09. Optional
Conversion of Advances. The Borrower may on any Business Day, upon notice given to the Agent not later than 11:00 A.M.
(New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions
of Sections 2.08 and 2.12, Convert all or any portion of the Advances of one Type comprising the same Borrowing into Advances
of the other Type; provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only
on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate
Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Advances
shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within
the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if
such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice
of Conversion shall be irrevocable and binding on the Borrower.

SECTION 2.10. Optional
Prepayments of Advances. The Borrower may, upon notice at least two Business Days prior to the date of such prepayment, in
the case of Eurodollar Rate Advances, and not later than 11:00 A.M. (New York City time) on the date of such prepayment, in the
case of Base Rate Advances, to the Agent stating the proposed date and aggregate principal amount of the prepayment, and if such
notice is given the Borrower shall, prepay the outstanding principal amount of the Advances comprising part of the same Borrowing
in whole or ratably in part, together with accrued interest to the date of such prepayment on the principal amount prepaid; provided,
however, that (x) each partial prepayment shall be in an aggregate
principal amount of not less than the Borrowing Minimum or an integral multiple of the Borrowing Multiple in excess thereof and
(y) in the event of any such prepayment of a Eurodollar Rate Advance, the Borrower shall be obligated to reimburse the Lenders
in respect thereof pursuant to Section 9.04(c).

(b)       Mandatory.

SECTION 2.11. Increased
Costs. (a) If, due to either (i) the introduction of or any change in or in the interpretation of any law or any governmental
rule, policy, guideline, directive or regulation after the date hereof, or (ii) the compliance with any guideline or request
issued after the date hereof from any central bank or other governmental authority including, without limitation, any agency of
the European Union or similar monetary or multinational authority (whether or not having the force of law), there shall be any
increase in the cost to any Lender of agreeing to make or making, funding or maintaining Eurodollar Rate Advances (excluding for
purposes of this Section 2.11 any such increased costs resulting from (i) Indemnified Taxes or Other Taxes (as to which Section
2.14 shall govern), (ii) changes in the basis of taxation of overall net income or overall gross income by the United States or
by the foreign jurisdiction or state under the laws of which such Lender is organized or has its Applicable Lending

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Office or any political
subdivision thereof and (iii) any withholding Taxes imposed under FATCA), then the Borrower shall from time to time, upon demand
by such Lender (with a copy of such demand to the Agent), pay to the Agent for the account of such Lender additional amounts sufficient
to compensate such Lender for such increased cost. A certificate as to the amount of such increased cost, submitted to the Borrower
and the Agent by such Lender, shall be conclusive and binding for all purposes, absent manifest error.

(b)       If
any Lender determines that compliance with any law or any governmental rule, policy, guideline, directive or regulation or any
guideline or request taking effect or issued after the date hereof from any central bank or other governmental authority (whether
or not having the force of law) affects or would affect the amount of capital or liquidity required or expected to be maintained
by such Lender or any corporation controlling such Lender and that the amount of such capital or liquidity is increased by or based
upon the existence of such Lender’s commitment to lend hereunder and other commitments of this type, then, upon demand by
such Lender (with a copy of such demand to the Agent), the Borrower shall pay to the Agent for the account of such Lender, from
time to time as specified by such Lender, additional amounts sufficient to compensate such Lender or such corporation in the light
of such circumstances, to the extent that such Lender reasonably determines such increase in capital or liquidity to be allocable
to the existence of such Lender’s commitment to lend hereunder. A certificate as to such amounts submitted to the Borrower
and the Agent by such Lender shall be conclusive and binding for all purposes, absent manifest error.

(c)       Failure
or delay on the part of any Lender to demand compensation pursuant to this Section 2.11 shall not constitute a waiver of such Lender’s
right to demand such compensation; provided that the Borrower shall not be required to compensate a Lender pursuant to this Section
2.11 for any increased costs or reductions incurred more than six months prior to the date that such Lender notifies the Borrower
of the circumstances giving rise to such increased costs or reductions and of such Lender’s intention to claim compensation
therefor; provided further that, if the circumstances giving rise to such increased costs or reductions cause such increased costs
or reductions to be retroactive, then the six-month period referred to above shall be extended to include the period of retroactive
effect thereof.

(d)       For
the avoidance of doubt and notwithstanding anything herein to the contrary, for the purposes of this Section 2.11, (i) the Dodd-Frank
Wall Street Reform and Consumer Protection Act and all requests, rules, regulations, guidelines, interpretations or directives
by a governmental authority thereunder or issued by a governmental authority in connection therewith (whether or not having the
force of law) and (ii) all requests, rules, regulations, guidelines, interpretations or directives promulgated by the Bank for
International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority ) or the United States
or foreign regulatory authorities (whether or not having the force of law), in case for this clause (ii) pursuant to Basel III,
shall in each case be deemed to be a change in law regardless of the date enacted, adopted, issued, promulgated or implemented.

SECTION 2.12. Illegality.
Notwithstanding any other provision of this Agreement, if any Lender shall notify the Agent that the introduction of or any change
in or in the interpretation of any law or regulation makes it unlawful, or any central bank or other governmental authority asserts
that it is unlawful, for any Lender or its Eurodollar Lending Office to perform its obligations hereunder to make Eurodollar Rate
Advances or to fund or maintain Eurodollar Rate Advances hereunder, (a)  be Converted into a Base Rate Advance and (b) the
obligation of the Lenders to make Eurodollar Rate Advances or to Convert Advances into Eurodollar Rate Advances shall be suspended
until the Agent shall notify the Borrower and the Lenders that the circumstances causing such suspension no longer exist; provided,
however, that before making any such demand, each Lender agrees to use reasonable efforts (consistent with its internal policy
and legal and regulatory restrictions) to designate a different Eurodollar Lending Office if the making of such a designation would
allow such Lender or its Eurodollar Lending Office to continue to perform its obligations to make such Eurodollar Rate Advances
or to continue to fund or maintain such Eurodollar Rate Advances and would not, in the judgment of such Lender, be otherwise disadvantageous
to such Lender.

SECTION 2.13. Payments
and Computations. (a) The Borrower shall make each payment hereunder, irrespective of any right of counterclaim or set-off,
not later than 11:00 A.M. (New York City time) on the day when due in Dollars to the Agent at the applicable Agent’s
Account in same day funds. The Agent will promptly thereafter cause to be distributed like funds relating to the payment of principal,
interest or fees ratably (other than amounts payable pursuant to Section 2.11, 2.14 or 9.04(c)) to the Lenders for the account
of their respective Applicable Lending Offices, and like funds relating to the payment of any other amount payable to any Lender
to such Lender

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for the account of
its Applicable Lending Office, in each case to be applied in accordance with the terms of this Agreement. Upon its acceptance of
an Assignment and Assumption and recording of the information contained therein in the Register pursuant to Section 9.07(c),
from and after the effective date specified in such Assignment and Assumption, the Agent shall make all payments hereunder and
under any Notes in respect of the interest assigned thereby to the Lender assignee thereunder, and the parties to such Assignment
and Assumption shall make all appropriate adjustments in such payments for periods prior to such effective date directly between
themselves.

(b)       The
Borrower hereby authorizes each Lender, if and to the extent payment owed to such Lender is not made when due hereunder or under
the Note held by such Lender, to charge from time to time against any or all of the Borrower’s accounts with such Lender
any amount so due.

(c)       All
computations of interest based on the Base Rate shall be made by the Agent on the basis of a year of 365 or 366 days, as the case
may be, and all computations of interest based on the Eurodollar Rate or the Federal Funds Rate and of facility fees shall be made
by the Agent on the basis of a year of 360 days, in each case for the actual number of days (including the first day but excluding
the last day) occurring in the period for which such interest or fees are payable. Each determination by the Agent of an interest
rate hereunder shall be conclusive and binding for all purposes, absent manifest error.

(d)       Whenever
any payment hereunder or under the Notes shall be stated to be due on a day other than a Business Day, such payment shall be made
on the next succeeding Business Day, and such extension of time shall in such case be included in the computation of payment of
interest or fee, as the case may be; provided, however, that, if such extension would cause payment of interest on or principal
of Eurodollar Rate Advances to be made in the next following calendar month, such payment shall be made on the next preceding Business
Day.

(e)       Unless
the Agent shall have received notice from the Borrower prior to the date on which any payment is due to the Lenders hereunder that
the Borrower will not make such payment in full, the Agent may assume that the Borrower has made such payment in full to the Agent
on such date and the Agent may, in reliance upon such assumption, cause to be distributed to each Lender on such due date an amount
equal to the amount then due such Lender. If and to the extent the Borrower shall not have so made such payment in full to the
Agent, each Lender shall repay to the Agent forthwith on demand such amount distributed to such Lender together with interest thereon,
for each day from the date such amount is distributed to such Lender until the date such Lender repays such amount to the Agent,
at the Federal Funds Rate.

SECTION 2.14. Taxes.
(a) Except as required by applicable law, any and all payments by any Loan Party to or for the account of any Lender or the Agent
hereunder or under the Notes or any other documents to be delivered hereunder shall be made, in accordance with Section 2.13
or the applicable provisions of such other documents, free and clear of and without deduction for any and all present or future
taxes, levies, imposts, deductions, charges or withholdings, and all liabilities with respect thereto (all such taxes, levies,
imposts, deductions, charges, withholdings imposed by any governmental authority and liabilities in respect of payments hereunder
or under the Notes being hereinafter referred to as “Taxes”). If any Loan Party or the Agent, as the case may
be, shall be required by law to deduct any Taxes from or in respect of any sum payable hereunder or under any Note or any other
documents to be delivered hereunder to any Lender or the Agent, (i) if such Tax is an Indemnified Tax, the sum payable shall
be increased as may be necessary so that after making all required deductions for Indemnified Taxes (including deductions for Indemnified
Taxes applicable to additional sums payable under this Section 2.14) such Lender or the Agent (as the case may be) receives
an amount equal to the sum it would have received had no such deductions been made, (ii) such Loan Party or the Agent, as
the case may be, shall make such deductions and (iii) such Loan Party shall pay the full amount deducted to the relevant taxation
authority or other authority in accordance with applicable law. For purposes of this Agreement, “Indemnified Taxes”
shall mean any Taxes other than (w) Taxes imposed on or measured by overall net income, overall gross income, profits, gains
or branch profits and franchise taxes imposed on it in lieu of net income taxes, in each case, imposed by the jurisdiction under
the laws of which such Lender or the Agent (as the case may be) is organized (or any political subdivision thereof), imposed as
a result of a present or former connection between such Lender or the Agent (as the case may be) and the jurisdiction imposing
such Tax (other than connections arising from such Lender or the Agent (as the case may be) having executed, delivered, become
a party to, performed its obligations under, received payments under, received or perfected a security interest under, engaged
in any other transaction pursuant to this Agreement or the Notes or enforced any rights under this Agreement or the Notes, or sold
or assigned an interest in any rights or obligations hereunder or under any Note) and,

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in the case of each
Lender, imposed by the jurisdiction of such Lender’s Applicable Lending Office or any political subdivision thereof, (x)
in respect of amounts payable by OCI, United States federal withholding Taxes imposed on amounts payable to or for the account
of such Lender or the Agent (as the case may be) pursuant to a law in effect (i) on the date on which such person becomes a party
hereto or acquires its interest in any Commitment or Advance to OCI (including any Note payable by OCI) (other than pursuant to
an assignment request by OCI under Section 2.20) or (ii) in the case of a Lender, on the date such Lender changes its Applicable
Lending Office, except in each case to the extent that amounts with respect to such Taxes were payable either to such person’s
assignor immediately before such person became a party hereto or to such Lender immediately before it changed its Applicable Lending
Office, (y) Taxes attributable to the failure of such Lender or the Agent (as the case may be) to comply with Sections 2.14(e)
and 2.14(f) and (z) any withholding Taxes imposed under FATCA.

(b)       In
addition, the Borrower shall pay any present or future stamp or documentary taxes or any other excise or property taxes, charges
or similar levies that arise from any payment made hereunder or under the Notes or any other documents to be delivered hereunder
or from the execution, delivery or registration of, performing under, or otherwise with respect to, this Agreement or the Notes
or any other documents to be delivered hereunder other than any such Other Taxes that arise in relation to any assignment or transfer
by a Lender of its rights or obligations hereunder (except where such assignment or transfer is at the written request of the Borrower)
(hereinafter referred to as “Other Taxes”).

(c)       Subject
to Sections 2.14(e) and 2.14(f), the Borrower shall indemnify each Lender and the Agent for and hold it harmless against the full
amount of Indemnified Taxes or Other Taxes (including, without limitation, Indemnified Taxes and Other Taxes imposed or asserted
by any jurisdiction on amounts payable under this Section 2.14) imposed on or paid by such Lender or the Agent (as the case
may be) and any liability (including penalties, interest and reasonable expenses) arising therefrom or with respect thereto. This
indemnification shall be made within 30 days from the date such Lender or the Agent (as the case may be) makes written demand therefor
setting forth in reasonable detail the basis for such claim.

(d)       Within
45 days after the date of any payment of Taxes, the applicable Loan Party shall furnish to the Agent, at its address referred to
in Section 9.02, the original or a certified copy of a receipt evidencing such payment to the extent such a receipt is issued
therefor, or other written proof of payment thereof that is reasonably satisfactory to the Agent. For purposes of this subsection
(d) and subsection (e), the terms “United States” and “United States person” shall have the
meanings specified in Section 7701 of the Internal Revenue Code.

(e)       Any
Lender making Advances to OCI that is entitled to an exemption from or reduction of withholding tax with respect to payments made
hereunder or under any Note shall deliver to OCI and the Agent, at the time or times reasonably requested by OCI or the Agent,
such properly completed and executed documentation reasonably requested by OCI or the Agent as will permit such payments to be
made without withholding or at a reduced rate of withholding. In addition, any Lender, if reasonably requested by OCI or the Agent,
shall deliver such other documentation prescribed by applicable law or reasonably requested by OCI or the Agent as will enable
OCI or the Agent to determine whether or not such Lender is subject to backup withholding or information reporting requirements.
Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such documentation
(other than such documentation set forth in Section 2.14(e)(ii)(A) and (ii)(B) and Section 2.14(e)(iv) below) shall not be required
if in the Lender’s reasonable judgment such completion, execution or submission would subject such Lender to any material
unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Lender. Without limiting the
generality of the foregoing, in respect of any Lender making Advances to OCI:

(i)        Each
Lender that is a United States Person shall deliver to OCI and the Agent, on or prior to the date of its execution and delivery
of this Agreement in the case of each Initial Lender and on the date of the Assignment and Assumption pursuant to which it becomes
a Lender in the case of each other Lender, and from time to time thereafter as reasonably requested in writing by OCI (but only
so long as such Lender remains lawfully able to do so), shall provide each of the Agent and OCI with executed originals of IRS
Form W-9 certifying that such Lender is exempt from United States federal backup withholding tax;

(ii)       Each
Lender that is not a United State person, on or prior to the date of its execution and delivery of this Agreement in the case of
each Initial Lender and on the date of the Assignment

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and Assumption
pursuant to which it becomes a Lender in the case of each other Lender, and from time to time thereafter as reasonably requested
in writing by OCI (but only so long as such Lender remains lawfully able to do so), shall provide each of the Agent and OCI with
whichever of the following is applicable:

(A)       in
the case of a Lender claiming the benefits of an income tax treaty to which the United States is a party (x) with respect to payments
of interest hereunder or under any Note, executed originals of IRS Form W-8BEN-E or W-8BEN establishing an exemption from, or reduction
of, United States federal withholding tax pursuant to the “interest” article of such tax treaty and (y) with respect
to any other applicable payments hereunder or under any Note, IRS Form W-8BEN-E or W-8BEN establishing an exemption from, or reduction
of, United States federal withholding tax pursuant to the “business profits” or “other income” article
of such tax treaty;

(B)       executed
originals of IRS Form W-8ECI;

(C)       in
the case of a Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Internal Revenue
Code, (x) a certificate substantially in the form of Exhibit D-1 to the effect that such Lender is not a “bank” within
the meaning of Section 881(c)(3)(A) of the Internal Revenue Code, a “10 percent shareholder” of OCI within the meaning
of Section 881(c)(3)(B) of the Internal Revenue Code, or a “controlled foreign corporation” described in Section 881(c)(3)(C)
of the Internal Revenue Code (a “U.S. Tax Compliance Certificate”) and (y) executed originals of IRS Form W-8BEN-E
or W-8BEN; or

(D)        to
the extent a Lender is not the beneficial owner, executed originals of IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form
W-8BEN-E or W-8BEN, a U.S. Tax Compliance Certificate substantially in the form of Exhibit D-2 or Exhibit D-3, IRS Form W-9, and/or
other certification documents from each beneficial owner, as applicable; provided that if the Lender is a partnership and
one or more direct or indirect partners of such Lender are claiming the portfolio interest exemption, Lender may provide a U.S.
Tax Compliance Certificate substantially in the form of Exhibit D-4 on behalf of each such direct and indirect partner.

(iii) Any Lender
that is not a United States person shall, to the extent it is legally entitled to do so, deliver to OCI and the Agent (in such
number of copies as shall be requested by the recipient) on or prior to the date on which such Lender becomes a Lender under this
Agreement (and from time to time thereafter upon the reasonable request of OCI or the Agent), executed originals of any other form
prescribed by applicable law as a basis for claiming exemption from or a reduction in United States federal withholding tax, duly
completed, together with such supplementary documentation as may be prescribed by applicable law to permit OCI or the Agent to
determine the withholding or deduction required to be made.

(iv)       If
a payment made to a Lender hereunder or under any Note would be subject to United States federal withholding tax imposed by Sections
1471(a) and 1472(a) of the Internal Revenue Code if such Lender were to fail to comply with the applicable reporting requirements
of FATCA (including those contained in Section 1471(b) or Section 1472(b) of the Internal Revenue Code, as applicable, and the
regulations thereunder), such Lender shall deliver to OCI and the Agent, at the time or times prescribed by law and at such time
or times reasonably requested by OCI or the Agent, such documentation prescribed by applicable law (including as prescribed by
Section 1471(b)(3)(C)(i) of the Internal Revenue Code) and such additional documentation reasonably requested by OCI or the Agent
as may be necessary for the Borrower or the Agent to comply with its obligations under FATCA, to determine that such Lender has
complied with such Lender’s obligations under FATCA or to determine the amount to deduct and withhold from such payment.
Solely for purposes of this Section 2.14(e)(iv), “FATCA” shall include any amendments made to FATCA after the date
of this Agreement.

(v)       On
or before the date the Agent (or any successor or replacement Agent) becomes the Agent hereunder, it shall deliver to OCI two duly
executed copies of either (i) IRS Form W-9 (or any successor forms) certifying that it is exempt from United States federal backup
withholding tax or (ii) a United States branch withholding certificate on IRS Form W-8IMY (or any successor forms) evidencing its

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agreement with
the OCI to be treated as a U.S. Person (with respect to amounts received on account of any Lender) and IRS Form W-8ECI (or any
successor forms) (with respect to amounts received on its own account), with the effect that, in either case, OCI will be entitled
to make payments hereunder to the Agent without withholding or deduction on account of United States federal withholding Tax. The
Agent agrees that if any form or certification it previously delivered expires or becomes obsolete or inaccurate in any respect,
it shall update such form or certification.

(f)       Each
Lender agrees that if any form or certification it previously delivered pursuant to Section 2.14(e) expires or becomes obsolete
or inaccurate in any respect, it shall update such form or certification or promptly notify OCI and the Agent in writing of its
legal inability to do so. Notwithstanding anything to the contrary herein, for any period with respect to which a Lender has failed
to provide OCI with the appropriate form, certificate or other document described in Section 2.14(e), such Lender shall not
be entitled to a gross-up or indemnification under Section 2.14(a) or (c) with respect to Taxes imposed by the United States
by reason of such failure, including any United States federal withholding tax imposed as a result of a failure to satisfy the
applicable requirements of FATCA; provided, however, that should a Lender become subject to Taxes because of its
failure to deliver a form, certificate or other document required hereunder, the Borrower shall take such steps as the Lender shall
reasonably request to assist the Lender to recover such Taxes.

(g)       [reserved].

(h)       [reserved].

(i)       If
the Agent or any Lender, in its sole discretion exercised in good faith, determines that it has received a refund of any Indemnified
Taxes or Other Taxes (including by virtue of a credit or offset of such Indemnified Taxes or Other Taxes) as to which it has been
indemnified by the Borrower or with respect to which the Borrower has made a gross-up payment under Section 2.14(a) or 2.14(c),
it shall pay to the Borrower an amount equal to such refund (but only to the extent of indemnity payments made, or gross-up paid,
by the Borrower under this Section 2.14 with respect to the Indemnified Taxes or Other Taxes giving rise to such refund), net of
all reasonable out-of-pocket expenses of the Agent or such Lender, as the case may be, and without interest (other than any interest
paid by the relevant governmental authority with respect to such refund), provided that the Borrower upon the request of the Agent
or such Lender, agrees to repay the amount paid over to the Borrower (plus any penalties, interest or other charges imposed by
the relevant governmental authority) to the Agent or such Lender if the Agent or such Lender is required to repay such refund to
such governmental authority. This Section 2.14(i) shall not be construed to require the Agent or any Lender to make available its
tax returns (or any other information relating to its taxes that it deems confidential) to the Borrower or any other Person.

(j)       VAT

(i) All amounts
expressed to be payable under this Agreement or the Notes by any Loan Party to the Agent or a Lender which (in whole or in part)
constitute the consideration for any supply for VAT purposes are deemed to be exclusive of any VAT which is chargeable on that
supply, and accordingly, subject to paragraph (ii) below, if VAT is or becomes chargeable on any supply made by the Agent or Lender
under this Agreement or the Notes and the Agent or such Lender, as applicable, is required to account to the relevant tax authority
for the VAT, that Loan Party must pay to the Agent or such Lender (in addition to and at the same time as paying any other consideration
for such supply) an amount equal to the amount of the VAT (and such Agent or Lender, as applicable, must promptly provide an appropriate
VAT invoice to that Loan Party).

(ii) If VAT
is or becomes chargeable on any supply made by the Agent or any Lender (the “Supplier”) to the Agent or any other Lender
(the “Recipient”) under this Agreement or the Notes, and any party hereto other than the Recipient (the “Relevant
Party”) is required by the terms of this Agreement or the Notes to pay an amount equal to the consideration for that supply
to the Supplier (rather than being required to reimburse or indemnify the Recipient in respect of that consideration):

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(A) (where the
Supplier is the person required to account to the relevant tax authority for the VAT) the Relevant Party must also pay to the Supplier
(at the same time as paying that amount) an additional amount equal to the amount of the VAT. The Recipient must (where this paragraph
(A) applies) promptly pay to the Relevant Party an amount equal to any credit or repayment the Recipient receives from the relevant
tax authority which the Recipient reasonably determines relates to the VAT chargeable on that supply; and

(B) (where the
Recipient is the person required to account to the relevant tax authority for the VAT) the Relevant Party must promptly, following
demand from the Recipient, pay to the Recipient an amount equal to the VAT chargeable on that supply but only to the extent that
the Recipient reasonably determines that it is not entitled to credit or repayment from the relevant tax authority in respect of
that VAT.

(iii) Where
this Agreement requires any Loan Party to reimburse or indemnify the Agent or a Lender for any cost or expense, that Loan Party
shall reimburse or indemnify (as the case may be) the Agent or such Lender, as applicable, for the full amount of such cost or
expense, including such part thereof as represents VAT, save to the extent that the Agent or such Lender reasonably determines
that it is entitled to credit or repayment in respect of such VAT from the relevant tax authority.

(iv) Any reference
in this Section 2.14(j) to any Loan Party shall, at any time when such Loan Party is treated as a member of a group for VAT purposes,
include (where appropriate and unless the context otherwise requires) a reference to the representative member of such group at
such time (the term "representative member" to have the same meaning as in the Value Added Tax Act 1994 of the United
Kingdom or any substantially similar concept in the case of a group for non-United Kingdom VAT purposes).

(v) In relation
to any supply made by the Agent or a Lender to any Loan Party under this Agreement, if reasonably requested by the Agent or such
Lender, that Loan Party must promptly provide the Agent or such Lender with details of that Loan Party's VAT registration and such
other information as is reasonably requested in connection with the Agent’s or such Lender’s VAT reporting requirements
in relation to such supply.

SECTION 2.15. Sharing
of Payments, Etc. If any Lender shall obtain any payment (whether voluntary, involuntary, through the exercise of any right
of set-off, or otherwise) on account of the Advances owing to it (other than pursuant to Section 2.11, 2.14, 2.19 or 9.04(c))
in excess of its Ratable Share of payments on account of the Advances obtained by all the Lenders, such Lender shall forthwith
purchase from the other Lenders such participations in the Advances owing to them as shall be necessary to cause such purchasing
Lender to share the excess payment ratably with each of them; provided, however, that if all or any portion of such excess payment
is thereafter recovered from such purchasing Lender, such purchase from each Lender shall be rescinded and such Lender shall repay
to the purchasing Lender the purchase price to the extent of such recovery together with an amount equal to such Lender’s
ratable share (according to the proportion of (i) the amount of such Lender’s required repayment to (ii) the total
amount so recovered from the purchasing Lender) of any interest or other amount paid or payable by the purchasing Lender in respect
of the total amount so recovered. The Borrower agrees that any Lender so purchasing a participation from another Lender pursuant
to this Section 2.15 may, to the fullest extent permitted by law, exercise all its rights of payment (including the right
of set-off) with respect to such participation as fully as if such Lender were the direct creditor of the Borrower in the amount
of such participation.

SECTION 2.16. Evidence
of Debt. (a) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the indebtedness
of the Borrower to such Lender resulting from each Advance owing to such Lender from time to time, including the amounts of principal
and interest payable and paid to such Lender from time to time hereunder in respect of Advances made to the Borrower. The Borrower
agrees that upon notice by any Lender to the Borrower (with a copy of such notice to the Agent) to the effect that a Note is required
or appropriate in order for such Lender to evidence (whether for purposes of pledge, enforcement or otherwise) the Advances owing
to, or to be made by, such Lender, the Borrower shall promptly execute and deliver to such Lender a Note payable to such Lender
in a principal amount up to the Revolving Credit Commitment of such Lender.

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(b)       The
Register maintained by the Agent pursuant to Section 9.07(c) shall include a control account, and a subsidiary account for each
Lender, in which accounts (taken together) shall be recorded (i) the date and amount of each Borrowing made hereunder, the Type
of Advances comprising such Borrowing and, if appropriate, the Interest Period applicable thereto, (ii) the terms of each Assignment
and Assumption delivered to and accepted by it, (iii) the amount of any principal or interest due and payable or to become due
and payable from the Borrower to each Lender hereunder and (iv) the amount of any sum received by the Agent from the Borrower hereunder
and each Lender’s share thereof.

(c)       Entries
made in good faith by the Agent in the Register pursuant to subsection (b) above, and by each Lender in its account or accounts
pursuant to subsection (a) above, shall be prima facie evidence of the amount of principal and interest due and payable or to become
due and payable from the Borrower to, in the case of the Register, each Lender and, in the case of such account or accounts, such
Lender, under this Agreement, absent manifest error; provided, however, that the failure of the Agent or such Lender to make an
entry, or any finding that an entry is incorrect, in the Register or such account or accounts shall not limit or otherwise affect
the obligations of the Borrower under this Agreement.

SECTION 2.17. Use
of Proceeds. The proceeds of the Advances shall be available (and the Borrower agrees that it shall use such proceeds) solely
for general corporate purposes of the Borrower and its Subsidiaries, including, without limitation, to fund acquisitions otherwise
not prohibited hereunder.

SECTION 2.18. [Reserved].

SECTION 2.19. Defaulting
Lenders. (a)  :

(c)       No
Revolving Credit Commitment of any Lender shall be increased or otherwise affected, and, except as otherwise expressly provided
in this Section 2.19, performance by the Borrower of its obligations shall not be excused or otherwise modified as a result of
the operation of this Section 2.19. The rights and remedies against a Defaulting Lender under this Section 2.19 are in addition
to any other rights and remedies which the Borrower, the Agent or any Lender may have against such Defaulting Lender.

(d)       If
the Borrower and the Agent agree in writing in their reasonable determination that a Defaulting Lender should no longer be deemed
to be a Defaulting Lender, the Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice
and subject to any conditions set forth therein (which may include arrangements with respect to any cash collateral), that Lender
will, to the extent applicable, purchase that portion of outstanding Advances of the other Lenders or take such other actions as
the Agent may determine to be necessary to cause the Advances to be held on a pro rata basis by the Lenders in accordance with
their Ratable Share (without giving effect to Section 2.19(a)), whereupon such Lender will cease to be a Defaulting Lender; provided
that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Borrower while
that Lender was a Defaulting Lender; and provided, further, that except to the extent otherwise expressly agreed by the affected
parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder
arising from such Lender’s having been a Defaulting Lender.

(e)       Notwithstanding
anything to the contrary contained in this Agreement, any payment of principal, interest, facility fees or other amounts received
by the Agent for the account of any Defaulting Lender under this Agreement (whether voluntary or mandatory, at maturity, pursuant
to Article VI or otherwise) shall be applied at such time or times as may be determined by the Agent as follows: first, to the
payment of any amounts owing by such Defaulting Lender to the Agent hereunder; second as the Borrower may request (so long as no
Default exists), to the funding of any Advance in respect of which that Defaulting Lender has failed to fund its portion thereof
as required by this Agreement, as determined by the Agent; third, to the payment of any amounts owing to the Lenders as a result
of any judgment of a court of competent jurisdiction obtained by any Lender against such Defaulting Lender as a result of such
Defaulting Lender’s breach of its obligations under this Agreement; fourth, so long as no Default exists, to the payment
of any amounts owing to the Borrower as a result of any judgment of a court of competent jurisdiction obtained by the Borrower
against such Defaulting Lender as a result of such Defaulting Lender's breach of its obligations under this Agreement; and fifth,
to such Defaulting Lender or as otherwise directed by a court of competent jurisdiction; provided that if (x) such payment is a
payment of the principal amount of any Advance in respect of which such Defaulting Lender has not fully funded its appropriate
share, and (y) such Advances were made at a time

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when the applicable
conditions set forth in Article III were satisfied or waived, such payment shall be applied solely to pay the Advances of all non-Defaulting
Lenders on a pro rata basis prior to being applied to the payment of any Advances of such Defaulting Lender and provided further
that any amounts held as cash collateral for funding obligations of a Defaulting Lender shall be returned to such Defaulting Lender
upon the termination of this Agreement and the satisfaction of such Defaulting Lender’s obligations hereunder. Any payments,
prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting
Lender or to post cash collateral pursuant to this Section 2.19 shall be deemed paid to and redirected by such Defaulting Lender,
and each Lender irrevocably consents hereto.

SECTION 2.20. Mitigation
Obligations; Replacement of Lenders.

(a)       Designation
of a Different Applicable Lending Office. If any Lender requests compensation under Section 2.11 or requires the Borrower to
pay additional amounts to any Lender or any governmental authority for the account of any Lender pursuant to Section 2.14, then
such Lender shall (at the request of the Guarantor) use reasonable efforts to designate a different Applicable Lending Office for
funding or booking its Advances hereunder or to assign its rights and obligations hereunder to another of its offices, branches
or affiliates, if, in the reasonable judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts
payable pursuant to Section 2.11 or 2.14 as the case may be, in the future, and (ii) would not subject such Lender to any unreimbursed
cost or expense and would not otherwise be disadvantageous to such Lender. The Borrower hereby agrees to pay all reasonable costs
and expenses incurred by any Lender in connection with any such designation or assignment.

(b)       Replacement
of Lenders. If any Lender requests compensation under Section 2.11, or if the Borrower is required to pay additional amounts
to any Lender or any governmental authority for the account of any Lender pursuant to Section 2.14 and, in each case, such Lender
has declined or is unable to designate a different Applicable Lending Office in accordance with Section 2.20(a), or if any Lender
is a Defaulting Lender or an Non-Consenting Lender, then the Guarantor may, at its sole expense and effort and so long as no Default
is continuing, upon notice to such Lender and the Agent, require such Lender to assign and delegate, without recourse (in accordance
with and subject to the restrictions contained in, and consents required by, Section 9.07), all of its interests, rights (other
than its existing rights to payments pursuant to Section 2.14) and obligations under this Agreement to an Eligible Assignee that
shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment); provided that:

(i)       the
Agent shall have received the assignment fee specified in Section 9.07(b)(iv), provided that no such fee shall be payable
in the case of an assignment made to an assignee that is an existing Lender;

(ii)       such
Lender shall have received payment of an amount equal to the outstanding principal of its Advances, accrued interest thereon, accrued
fees and all other amounts payable to it hereunder (including any amounts under Section 9.04(c)) from the assignee (to the extent
of such outstanding principal and accrued interest and fees) or the Borrower (in the case of all other amounts);

(iii)       in
the case of any such assignment resulting from a claim for compensation under Section 2.11 or payments required to be made pursuant
to Section 2.14, such assignment will result in a reduction in such compensation or payments thereafter;

(iv)       in
the case of any assignment resulting from a Lender becoming a Non-Consenting Lender, the applicable assignee shall have consented
to the applicable amendment, waiver or consent; and

(v)       such
assignment does not conflict with applicable law.

A Lender shall not
be required to make any such assignment or delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the
circumstances entitling the Guarantor to require such assignment and delegation cease to apply.

SECTION 2.21. [Reserved].

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SECTION 2.22. LIBOR
Successor Rate.

(a)                
Benchmark Replacement. Notwithstanding anything to the contrary herein, upon the occurrence
of a Benchmark Transition Event or an Early Opt-in Election, as applicable, with respect to the Eurodollar Rate for any Available
Currency, the Agent and the Guarantor may amend this Agreement to replace the Eurodollar Rate for such Available Currency with
a Benchmark Replacement for such Available Currency; and any such amendment with respect to a Benchmark Transition Event will become
effective at 5:00 p.m. New York City time on the fifth (5th) Business Day after the Agent has provided such proposed amendment
to all Lenders and the Guarantor, so long as the Agent has not received, by such time, written notice of objection to such amendment
from Lenders comprising the Required Lenders. Any such amendment with respect to an Early Opt-in Election with respect to any Available
Currency will become effective on the date that Lender comprising the Required Lenders have delivered to the Agent written notice
that such Required Lenders accept such amendment. No replacement of the Eurodollar Rate with a Benchmark Replacement pursuant to
this Section shall occur prior to the applicable Benchmark Transition Start Date.

(b)               
Benchmark Replacement Conforming Changes. In connection with the implementation of
a Benchmark Replacement, the Agent will have the right to make Benchmark Replacement Conforming Changes from time to time and,
notwithstanding anything to the contrary herein, any amendments implementing such Benchmark Replacement Conforming Changes will
become effective without any further action or consent of any other party to this Agreement.

(c)                
Notices; Standards for Decisions and Determinations. The Agent will promptly notify
the Guarantor and the Lenders of (i) any occurrence of a Benchmark Transition Event or an Early Opt-in Election, as applicable
with respect to any Available Currency, and its related Benchmark Replacement Date and Benchmark Transition Start Date, (ii) the
implementation of any Benchmark Replacement, (iii) the effectiveness of any Benchmark Replacement Conforming Changes and (iv) the
commencement or conclusion of any Benchmark Unavailability Period. Any determination, decision or election that may be made by
the Agent or the Lenders pursuant to this Section 2.22 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,
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 hereto, except, in each case, as expressly required pursuant to this Section 2.22.

(d)               
Benchmark Unavailability Period. Upon the Guarantor’s receipt of notice of the
commencement of a Benchmark Unavailability Period with respect to any Available Currency, the Borrower may revoke any request for
a Eurodollar Rate Borrowing of, conversion to or continuation of Eurodollar Rate Advances to be made converted or continued during
any Benchmark Unavailability Period and, failing that, (i) any pending selection of, conversion to or renewal of a Eurodollar Rate
Advance that has not yet gone into effect shall be deemed to be a selection of, conversion to or renewal of a Base Rate Advance
with respect to such Eurodollar Rate Advance, (ii) all outstanding Eurodollar Rate Advances in such Available Currency shall automatically
be converted to Base Rate Advances at the expiration of the existing Interest Period (or sooner, if Agent cannot continue to lawfully
maintain such affected Eurodollar Rate Advance) and (iii) the component of the Base Rate based upon One Month LIBOR will not be
used in any determination of the Base Rate.

(e)                
As used in this Section 2.22: 

“Available
Currency” means Dollars.

“Benchmark
Replacement” means, with respect to any Available Currency, the sum of: (a) the alternate benchmark rate that has been
selected by the Agent and the Guarantor for such Available Currency giving due consideration to (i) any selection or recommendation
of a replacement rate or the mechanism for determining such a rate by the Relevant Governmental Body with respect to such Available
Currency or (ii) any evolving or then-prevailing market convention for determining a rate of interest as a replacement to the Eurodollar
Rate for U.S. dollar-denominated credit facilities and (b) the Benchmark Replacement Adjustment; provided that, if the Benchmark
Replacement as so determined would be less than zero, the Benchmark Replacement will be deemed to be zero for the purposes of this
Agreement.

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“Benchmark
Replacement Adjustment” means, with respect to any replacement of the Eurodollar Rate for any Available Currency with
an alternate benchmark rate for each applicable Interest Period for such Available Currency, 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 Agent and the Guarantor giving due consideration to (i) any selection or recommendation of a spread adjustment, or method for
calculating or determining such spread adjustment, for the replacement of the Eurodollar Rate in such Available Currency with the
applicable alternate benchmark rate for such Available Currency by the Relevant Governmental Body with respect to such Available
Currency or (ii) any evolving or then-prevailing market convention for determining a spread adjustment, or method for calculating
or determining such spread adjustment, for such replacement of the Eurodollar Rate with an alternate benchmark rate for U.S. dollar-denominated
credit facilities at such time.

“Benchmark
Replacement Conforming Changes” means, with respect to any Benchmark Replacement for any Available Currency, any technical,
administrative or operational changes (including changes to the definition of “Base Rate,” the definition of “Interest
Period,” timing and frequency of determining rates and making payments of interest and other administrative matters) that
the Agent decides may be appropriate to reflect the adoption and implementation of such Benchmark Replacement for such Available
Currency and to permit the administration thereof by the Agent in a manner substantially consistent with market practice in the
United States (or, if the Agent decides that adoption of any portion of such market practice is not administratively feasible or
if the Agent determines that no market practice for the administration of the Benchmark Replacement exists, in such other manner
of administration as the Agent decides is reasonably necessary in connection with the administration of this Agreement).

“Benchmark
Replacement Date” means the earlier to occur of the following events with respect to the Eurodollar Rate for any Available
Currency:

(1)       in
the case of clause (1) or (2) 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 the Eurodollar Rate for
such Available Currency permanently or indefinitely ceases to provide the Eurodollar Rate for such Available Currency; or

(2)        in
the case of clause (3) of the definition of “Benchmark Transition Event,” the date of the public statement or publication
of information referenced therein.

“Benchmark
Transition Event” means the occurrence of one or more of the following events with respect to the Eurodollar Rate for
any Available Currency:

(1)       a
public statement or publication of information by or on behalf of the administrator of the Eurodollar Rate for such Available Currency
announcing that such administrator has ceased or will cease to provide the Eurodollar Rate for such Available Currency, permanently
or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue
to provide the Eurodollar Rate for such Available Currency;

(2)        a
public statement or publication of information by a governmental authority having jurisdiction over the Agent, the regulatory supervisor
for the administrator of the Eurodollar Rate for such Available Currency, the U.S. Federal Reserve System, an insolvency official
with jurisdiction over the administrator for the Eurodollar Rate for such Available Currency, a resolution authority with jurisdiction
over the administrator for the Eurodollar Rate for such Available Currency or a court or an entity with similar insolvency or resolution
authority over the administrator for the Eurodollar Rate for such Available Currency, which states that the administrator of the
Eurodollar Rate for such Available Currency has ceased or will cease to provide the Eurodollar Rate for such Available Currency
permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that
will continue to provide the Eurodollar Rate for such Available Currency; or

(3)        a
public statement or publication of information by the regulatory supervisor for the administrator of the Eurodollar Rate for such
Available Currency or a governmental authority having jurisdiction over the Agent announcing that the Eurodollar Rate for such
Available Currency is no longer representative.

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“Benchmark
Transition Start Date” means (a) in the case of a Benchmark Transition Event, the earlier of (i) the applicable Benchmark
Replacement Date and (ii) if such Benchmark Transition Event is a public statement or publication of information of a prospective
event, the 90th day prior to the expected date of such event as of such public statement or publication of information (or if the
expected date of such prospective event is fewer than 90 days after such statement or publication, the date of such statement or
publication) and (b) in the case of an Early Opt-in Election, the date specified by the Agent or the Required Lenders, as applicable,
by notice to the Guarantor, the Agent (in the case of such notice by the Required Lenders) and the Lenders.

“Benchmark
Unavailability Period” means, with respect to any Available Currency, if a Benchmark Transition Event and its related
Benchmark Replacement Date have occurred with respect to the Eurodollar Rate for such Available Currency and solely to the extent
that the Eurodollar Rate for such Available Currency has not been replaced with a Benchmark Replacement, the period (x) beginning
at the time that such Benchmark Replacement Date for such Available Currency has occurred if, at such time, no Benchmark Replacement
for such Available Currency has replaced the Eurodollar Rate for such Available Currency for all purposes hereunder in accordance
with Section 2.22 and (y) ending at the time that a Benchmark Replacement for such Available Currency has replaced the Eurodollar
Rate for such Available Currency for all purposes hereunder pursuant to Section 2.22.

“Early
Opt-in Election” means the occurrence of:

(1)(i) a determination
by the Agent and the Guarantor or (ii) a notification by the Required Lenders to the Agent (with a copy to the Guarantor) that
the Required Lenders have determined that U.S. dollar-denominated syndicated credit facilities being executed at such time, or
that include language similar to that contained in this Section 2.22, are being executed or amended, as applicable, to incorporate
or adopt a new benchmark interest rate to replace the Eurodollar Rate for loans in Dollars; or

(2)(i) the election
by the Agent and the Guarantor or (ii) the election by the Required Lenders to declare that an Early Opt-in Election has occurred
and the provision, as applicable by the Agent of written notice to the Guarantor and the Lenders or by the Required Lenders of
written notice of such election to the Agent.

“Relevant
Governmental Body” means 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 any successor thereto.

 

ARTICLE III

CONDITIONS TO EFFECTIVENESS
AND LENDING

SECTION 3.01. Conditions
Precedent to Effectiveness of Section 2.01. Section 2.01 of this Agreement shall become effective on and as of the first
date (the “Effective Date”) on which the following conditions precedent have been satisfied:

(a)       There
shall have occurred no Material Adverse Change since December 31, 2019.

(b)       There
shall exist no action, suit, investigation, litigation or proceeding affecting the Guarantor or any of its Subsidiaries pending
or threatened before any court, governmental agency or arbitrator that (i) could be reasonably likely to have a Material Adverse
Effect other than the matters described on Schedule 3.01(b) hereto (the “Disclosed Litigation”) or (ii) purports
to affect the legality, validity or enforceability of this Agreement or any Note or the consummation of the transactions contemplated
hereby, and there shall have been no adverse change in the status, or financial effect on the Guarantor or any of its Subsidiaries,
of the Disclosed Litigation from that described on Schedule 3.01(b) hereto.

(c)       The
Lenders shall have been given such access to the management, records, books of account, contracts and properties of the Guarantor
and its Subsidiaries as they shall have requested.

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(d)       All
governmental and third party consents and approvals necessary in connection with the transactions contemplated hereby shall have
been obtained (without the imposition of any conditions that are not acceptable to the Lenders) and shall remain in effect, and
no law or regulation shall be applicable in the reasonable judgment of the Lenders that restrains, prevents or imposes materially
adverse conditions upon the transactions contemplated hereby.

(e)       The
Borrower shall have notified each Lender and the Agent in writing as to the proposed Effective Date.

(f)       The
Borrower shall have paid all accrued fees and expenses of the Agent and the Lenders (including the accrued fees and expenses of
counsel to the Agent).

(g)       On
the Effective Date, the following statements shall be true and the Agent shall have received for the account of each Lender a certificate
signed by a duly authorized officer of the Guarantor, dated the Effective Date, stating that:

(i)       The
representations and warranties contained in Section 4.01 are correct on and as of the Effective Date, and

(ii)       No
event has occurred and is continuing that constitutes a Default.

(h)       The
Agent shall have received on or before the Effective Date the following, each dated such day, in form and substance satisfactory
to the Agent and (except for the Notes) in sufficient copies for each Lender:

(i)       The
Notes to the Lenders to the extent requested by any Lender pursuant to Section 2.16.

(ii)       Certified
copies of the resolutions of the Board of Directors of each Loan Party approving this Agreement and the Notes to which it is a
party, and of all documents evidencing other necessary corporate or organizational, as applicable, action and governmental approvals,
if any, with respect to this Agreement and the Notes to which it is a party.

(iii)       A
certificate of the Secretary or an Assistant Secretary of each of the Guarantor and OCI, in each case, certifying the names and
true signatures of the officers or other duly authorized signatories of such Loan Party authorized to sign this Agreement and the
Notes to which it is a party and the other documents to be delivered by it hereunder.

(iv)       Favorable
opinions of internal counsel to the Loan Parties, Latham & Watkins LLP, New York counsel for the Loan Parties, and Gilbride,
Tusa, Last & Spellane LLC, Connecticut counsel for OCI, as to such matters as are customary for a credit agreement of this
type and such other matters as any Lender through the Agent may reasonably request.

(v)       A
favorable opinion of Shearman & Sterling LLP, counsel for the Agent, in form and substance satisfactory to the Agent.

(i)       Each
of the Lenders shall have received, at least two Business Days in advance of the Effective Date, all documentation and other information
reasonably requested by such Lenders as required under applicable “know-your-customer” and anti-money laundering rules
and regulations, including as required by the Patriot Act and, if the Borrower qualifies as a “legal entity customer”
under the Beneficial Ownership Regulation, a duly executed and completed Beneficial Ownership Certification.

SECTION 3.02. [Reserved].

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SECTION 3.03. Conditions
Precedent to Each Borrowing. The obligation of each Lender to make an Advance on the occasion of each Borrowing shall be subject
to the conditions precedent that the Effective Date shall have occurred and on the date of such Borrowing the following statements
shall be true (and each of the giving of the applicable Notice of Borrowing and the acceptance by the Borrower of the proceeds
of such Borrowing shall constitute a representation and warranty by the Borrower that on the date of such Borrowing such statements
are true):

(a)       the
representations and warranties contained in Section 4.01 (except the representations set forth in the last sentence of subsection (e)
thereof and in subsection (f)(i) thereof) are correct on and as of such date, before and after giving effect to such Borrowing
and to the application of the proceeds therefrom, as though made on and as of such date, and

(b)       no
event has occurred and is continuing, or would result from such Borrowing or from the application of the proceeds therefrom, that
constitutes a Default.

SECTION 3.04. Determinations
Under Section 3.01. For purposes of determining compliance with the conditions specified in Section 3.01, each Lender
shall be deemed to have consented to, approved or accepted or to be satisfied with each document or other matter required thereunder
to be consented to or approved by or acceptable or satisfactory to the Lenders unless an officer of the Agent responsible for the
transactions contemplated by this Agreement shall have received notice from such Lender prior to the date that the Borrower, by
notice to the Lenders, designate as the proposed Effective Date, specifying its objection thereto. The Agent shall promptly notify
the Lenders of the occurrence of the Effective Date.

ARTICLE IV

REPRESENTATIONS AND
WARRANTIES

SECTION 4.01. Representations
and Warranties of the Guarantor. The Guarantor represents and warrants as follows:

(a)       Each
Loan Party is a corporation, duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization.

(b)       The
execution, delivery and performance by each Loan Party of this Agreement and the Notes to be delivered by it, and the consummation
of the transactions contemplated hereby, are within such Loan Party’s corporate or organizational, as applicable, powers,
have been duly authorized by all necessary corporate or organizational, as applicable, action, and do not contravene (i) such
Loan Party’s charter or by-laws or other organizational documents or (ii) any law or any contractual restriction binding
on or affecting any Loan Party.

(c)       No
authorization or approval or other action by, and no notice to or filing with, any governmental authority or regulatory body or
any other third party is required for the due execution, delivery and performance by any Loan Party of this Agreement or the Notes
to be delivered by it.

(d)       This
Agreement has been, and each of the Notes to be delivered by it when delivered hereunder will have been, duly executed and delivered
by each Loan Party party thereto. This Agreement is, and each of the Notes when delivered hereunder will be, the legal, valid and
binding obligation of each Loan Party party thereto enforceable against such Loan Party in accordance with their respective terms.

(e)       The
Consolidated balance sheet of the Guarantor and its Subsidiaries as at December 31, 2019, and the related Consolidated statements
of income and cash flows of the Guarantor and its Subsidiaries for the fiscal year then ended, accompanied by an opinion of KPMG
LLP, independent public accountants, fairly present the Consolidated financial condition of the Guarantor and its Subsidiaries
as at such date and the Consolidated results of the operations of the Guarantor and its Subsidiaries for the period ended on such
date, all in accordance with generally accepted accounting principles consistently applied. Since December 31, 2019, there
has been no Material Adverse Change.

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(f)       There
is no pending or, to the knowledge of the Guarantor, threatened action, suit, investigation, litigation or proceeding, including,
without limitation, any Environmental Action, affecting the Guarantor or any of its Subsidiaries before any court, governmental
agency or arbitrator that (i) could be reasonably likely to have a Material Adverse Effect (other than the Disclosed Litigation),
and there has been no adverse change in the status, or financial effect on the Guarantor or any of its Subsidiaries, of the Disclosed
Litigation from that described on Schedule 3.01(b) hereto or (ii) purports to affect the legality, validity or enforceability
of this Agreement or any Note or the consummation of the transactions contemplated hereby.

(g)       No
Loan Party is engaged in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning
of Regulation U issued by the Board of Governors of the Federal Reserve System), and no proceeds of any Advance will be used
to purchase or carry any margin stock or to extend credit to others for the purpose of purchasing or carrying any margin stock.

(h)       No
Loan Party is an “investment company”, or a company “controlled” by an “investment company”,
within the meaning of the Investment Company Act of 1940, as amended.

(i)       All
factual information (taken as a whole) heretofore or contemporaneously furnished by or on behalf of any Loan Party in writing to
any Lender (including, without limitation, all information contained in this Agreement) for purposes of or in connection with this
Agreement or any transaction contemplated herein is, and all other such factual information (taken as a whole) hereafter furnished
by or on behalf of such Loan Party in writing to any Lender will be, true and accurate in all material respects on the date as
of which such information is dated or certified and does not or will not omit to state any fact necessary to make such information
(taken as a whole) not misleading in any material respect at such time in light of the circumstances under which such information
was provided.

(j)       The
Guarantor has implemented and maintains in effect policies and procedures reasonably designed to promote compliance by the Guarantor,
its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions.
The Guarantor has implemented and maintains in effect policies and procedures that require compliance by the Guarantor, its Subsidiaries
and their respective directors, officers, employees and agents with Additional Anti-Corruption Laws. The Guarantor and its Subsidiaries
are, to the knowledge of the Guarantor’s President, Chief Executive Officer, Chief Financial Officer, Controller, Treasurer
and General Counsel, in compliance with Anti-Corruption Laws and applicable Sanctions in all material respects. None of the Guarantor,
any Subsidiary or any of their respective directors or officers, or, to the knowledge of the Guarantor, any of their respective
employees or any agent of the Guarantor or any Subsidiary that will act in any capacity in connection with or benefit from the
credit facility established hereby, is, or is controlled by, a Sanctioned Person or, to the knowledge of any officer, director
or employee of the Guarantor who is engaged in or has approved a transaction with such Person, any Person in which a Sanctioned
Person owns, directly or indirectly, a 50 percent or greater interest.

(k)       The
information included in each Beneficial Ownership Certification provided to any Lender on or prior to the Effective Date is true
and correct in all respects as of the date hereof.

(l)       No
Loan Party is an EEA Financial Institution or a UK Financial Institution.

ARTICLE V

COVENANTS OF THE GUARANTOR

SECTION 5.01. Affirmative
Covenants. So long as any Advance shall remain unpaid or any Lender shall have any Commitment hereunder, the Guarantor will:

(a)       Compliance
with Laws, Etc. Comply, and cause each of its Subsidiaries to comply with all applicable laws, rules, regulations and orders,
such compliance to include, without limitation, compliance with ERISA and Environmental Laws except, in each case, to the extent
that failure to comply would not reasonably be expected to have a Material Adverse Effect; maintain in effect policies and procedures
reasonably designed to promote compliance by the Guarantor, its Subsidiaries and their respective directors, officers, employees
and agents with Anti-

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Corruption Laws and
applicable Sanctions; and maintain in effect policies and procedures that require compliance by the Guarantor, its Subsidiaries
and their respective directors, officers, employees and agents with Additional Anti-Corruption Laws.

(b)       Payment
of Taxes, Etc. Pay and discharge, and cause each of its Subsidiaries to pay and discharge, before the same shall become delinquent,
(i) all taxes, assessments and governmental charges or levies imposed upon it or upon its property and (ii) all lawful
claims that, if unpaid, might by law become a Lien upon its property; provided, however, that neither the Guarantor nor any of
its Subsidiaries shall be required to pay or discharge any such tax, assessment, charge or claim that is being contested in good
faith and by proper proceedings and as to which appropriate reserves are being maintained.

(c)       Maintenance
of Insurance. Maintain, and cause each of its Subsidiaries to maintain, insurance with responsible and reputable insurance
companies or associations in such amounts and covering such risks as is usually carried by companies engaged in similar businesses
and owning similar properties in the same general areas in which the Guarantor or such Subsidiary operates.

(d)       Preservation
of Existence, Etc. Preserve and maintain, and cause each of its Subsidiaries to preserve and maintain, its corporate or organizational,
as applicable, existence, rights (charter and statutory) and franchises; provided, however, that the Guarantor and its Subsidiaries
may consummate any merger or consolidation permitted under Section 5.02(b) and provided further that neither the Guarantor
nor any of its Subsidiaries shall be required to preserve any right or franchise, or the existence of any Subsidiary of the Guarantor
that is not the Borrower, if the Board of Directors of the Guarantor or the Borrower that is the corporate parent of such Subsidiary
shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Guarantor or the Borrower,
as the case may be, and that the loss thereof is not disadvantageous in any material respect to the Guarantor, the Borrower or
the Lenders.

(e)       Visitation
Rights. At any reasonable time and from time to time, permit the Agent or any of the Lenders or any agents or representatives
thereof, to examine and make copies of and abstracts from the records and books of account of, and visit the properties of, the
Guarantor and any of its Subsidiaries, and to discuss the affairs, finances and accounts of the Guarantor and any of its Subsidiaries
with any of their officers or directors and with their independent certified public accountants.

(f)       Keeping
of Books. Keep, and cause each of its Subsidiaries to keep, proper books of record and account, in which full and correct entries
shall be made of all financial transactions and the assets and business of the Guarantor and each such Subsidiary in accordance
with generally accepted accounting principles in effect from time to time.

(g)       Maintenance
of Properties, Etc. Maintain and preserve, and cause each of its Subsidiaries to maintain and preserve, all of its properties
that are used or useful in the conduct of its business in good working order and condition, ordinary wear and tear excepted, except
to the extent that failure to comply would not reasonably be expected to have a Material Adverse Effect.

(h)       Reporting
Requirements. Furnish to the Lenders:

(i)       as
soon as available and in any event within 50 days after the end of each of the first three quarters of each fiscal year of the
Guarantor, the Consolidated balance sheet of the Guarantor and its Subsidiaries as of the end of such quarter and Consolidated
statements of income and cash flows of the Guarantor and its Subsidiaries for the period commencing at the end of the previous
fiscal year and ending with the end of such quarter, duly certified (subject to year-end audit adjustments) by the chief financial
officer of the Guarantor as having been prepared in accordance with generally accepted accounting principles and certificates of
the chief financial officer of the Guarantor as to compliance with the terms of this Agreement and setting forth in reasonable
detail the calculations necessary to demonstrate compliance with Section 5.03, provided that in the event of any change in
generally accepted accounting principles used in the preparation of such financial statements, the Guarantor shall also provide,
if necessary for the determination of compliance with Section 5.03, a statement of reconciliation conforming such financial
statements to GAAP;

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(ii)       as
soon as available and in any event within 95 days after the end of each fiscal year of the Guarantor, a copy of the annual audit
report for such year for the Guarantor and its Subsidiaries, containing the Consolidated balance sheet of the Guarantor and its
Subsidiaries as of the end of such fiscal year and Consolidated statements of income and cash flows of the Guarantor and its Subsidiaries
for such fiscal year, in each case accompanied by an opinion acceptable to the Required Lenders by KPMG LLP or other independent
public accountants acceptable to the Required Lenders and certificates of the chief financial officer of the Guarantor as to compliance
with the terms of this Agreement and setting forth in reasonable detail the calculations necessary to demonstrate compliance with
Section 5.03, provided that in the event of any change in generally accepted accounting principles used in the preparation
of such financial statements, the Guarantor shall also provide, if necessary for the determination of compliance with Section 5.03,
a statement of reconciliation conforming such financial statements to GAAP;

(iii)       as
soon as possible and in any event within five days after any senior officer of the Guarantor or the Borrower becomes aware or should
have become aware of the occurrence of any Default, the occurrence of each Default continuing on the date of such statement, a
statement of the chief financial officer of the Guarantor setting forth details of such Default and the action that the Guarantor
has taken and proposes to take with respect thereto;

(iv)       promptly
after the sending or filing thereof, copies of all reports that the Guarantor sends to any of its securityholders, and copies of
all reports and registration statements that the Guarantor or any Subsidiary files with the Securities and Exchange Commission
(the “SEC”) or any national securities exchange;

(v)       promptly
after the commencement thereof, notice of all actions and proceedings before any court, governmental agency or arbitrator affecting
the Guarantor or any of its Subsidiaries of the type described in Section 4.01(f); and

(vi)       such
other information respecting the Guarantor or any of its Subsidiaries as any Lender through the Agent may from time to time reasonably
request.

Reports and financial
statements required to be delivered by the Guarantor pursuant to clauses (i), (ii), (iv) and (v) of this Section 5.01(h)
shall be deemed to have been delivered on the date on which it posts such reports, or reports containing such financial statements,
on its website on the Internet at www.omnicomgroup.com or when such reports, or reports containing such financial statements are
posted on the SEC’s website at www.sec.gov; provided that it shall deliver notice that such reports and financial statements
are so available and shall deliver paper copies of the reports and financial statements referred to in clauses (i), (ii),
(iv) and (v) of this Section 5.01(h) to the Agent or any Lender who requests it to deliver such paper copies until written
notice to cease delivering paper copies is given by the Agent or such Lender.

SECTION 5.02. Negative
Covenants. So long as any Advance shall remain unpaid or any Lender shall have any Commitment hereunder, the Guarantor will
not:

(a)       Liens,
Etc. Create or suffer to exist, or permit any of its Subsidiaries to create or suffer to exist, any Lien on or with respect
to any of its properties, whether now owned or hereafter acquired, or assign, or permit any of its Subsidiaries to assign, any
right to receive income, other than:

(i)       Permitted
Liens,

(ii)       purchase
money Liens upon or in any real property or equipment acquired or held by the Guarantor or any Subsidiary in the ordinary course
of business to secure the purchase price of such property or equipment or to secure Debt incurred solely for the purpose of financing
the acquisition of such property or equipment, or Liens existing on such property or equipment at the time of its acquisition (other
than any such Liens created in contemplation of such acquisition that were not incurred to finance the acquisition of such property)
or extensions, renewals or replacements of any of the foregoing for the same or a lesser amount, provided, however, that no such
Lien shall extend to or cover any properties of any character

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other than the
real property or equipment being acquired and fixed improvements thereon or accessions thereto, and no such extension, renewal
or replacement shall extend to or cover any properties not theretofore subject to the Lien being extended, renewed or replaced,

(iii)       the
Liens existing on the Effective Date and described on Schedule 5.02(a) hereto,

(iv)       Liens
on property of a Person existing at the time such Person is merged into or consolidated with the Guarantor or any Subsidiary of
the Guarantor or becomes a Subsidiary of the Guarantor; provided that such Liens were not created in contemplation of such merger,
consolidation or acquisition and do not extend to any assets other than those of the Person so merged into or consolidated with
the Guarantor or such Subsidiary or acquired by the Guarantor or such Subsidiary,

(v)       Liens
securing Debt permitted by Section 5.02(d)(vii),

(vi)       Liens
granted by Subsidiaries of the Guarantor (other than the Borrower) to secure Debt permitted by Section 5.02(d)(iv),

(vii)       any
assignment of accounts receivable (A) by and among the Guarantor and its Subsidiaries or (B) pursuant to non-recourse factoring
or similar arrangements or otherwise in an aggregate amount not to exceed in any fiscal year the greater of $500,000,000 (measured
as the face value of such accounts receivable at the time of assignment) and 10.0% of the consolidated accounts receivable of the
Guarantor and its Subsidiaries as reflected in the consolidated balance sheet of the Guarantor and its Consolidated Subsidiaries
as of the end of the fiscal year of the Guarantor most recently ended prior to such assignment for which financial statements have
been delivered pursuant to Section 5.01(h)(ii); and

(viii)       (A)
Liens not otherwise permitted by the foregoing clauses of this Section securing Debt or other obligations in an aggregate amount
at any time outstanding plus (B) the aggregate face value at the time of assignment of such accounts receivable assigned, the assignment
of which is not otherwise permitted by the foregoing clauses of this Section, in an aggregate amount not to exceed (1) 15% of Consolidated
net worth of the Guarantor and its Subsidiaries as set forth in the Guarantor’s most recent financial statements delivered
pursuant to Section 5.01(h)(i) minus (2) without duplication of any Debt secured in accordance with this clause (viii),
Debt incurred in accordance with Section 5.02(d)(x).

(b)       Mergers,
Etc. Merge or consolidate with or into, or convey, transfer, lease or otherwise dispose of (whether in one transaction or in
a series of transactions) all or substantially all of its assets (whether now owned or hereafter acquired) to, any Person, or permit
the Borrower to do so.

(c)       Accounting
Changes. Make or permit, or permit any of its Subsidiaries to make or permit, any change in accounting policies or reporting
practices, except as required or permitted by generally accepted accounting principles.

(d)       Subsidiary
Debt. Permit any of its Subsidiaries to create or suffer to exist, any Debt other than:

(i)       Debt
existing on the Effective Date and described on Schedule 5.02(d) hereto (the “Existing Debt”), and any
Debt extending the maturity of, or refunding or refinancing, in whole or in part, the Existing Debt, provided that the principal
amount of such Existing Debt shall not be increased above the principal amount thereof outstanding immediately prior to such extension,
refunding or refinancing plus any capitalized fees incurred in connection therewith, and the direct and contingent obligors therefor
shall not be changed (other than to release any contingent obligor), as a result of or in connection with such extension, refunding
or refinancing,

(ii)       accrued
expenses and trade payables incurred in the ordinary course of business, and obligations under trade letters of credit incurred
in the ordinary course of business, which are to be repaid

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in full not
more than one year after the date on which such Debt is originally incurred to finance the purchase of goods by such Subsidiary,

(iii)       obligations
under letters of credit or surety bonds incurred in the ordinary course of business in support of obligations incurred in connection
with leases, worker’s compensation, unemployment insurance and other social security legislation,

(iv)       Debt
owed to the Guarantor or to a wholly owned Subsidiary of the Guarantor,

(v)       Debt
of the Borrower under this Agreement and other Debt of the Borrower and Omnicom Finance Limited, a private limited company organized
under the laws of England and Wales, under the Borrower’s Second Amended and Restated Credit Agreement dated as of February
14, 2020.

(vi)       other
Debt of Subsidiaries of the Guarantor which are not organized under the laws of the United States of America, a State of the United
States of America or the District of Columbia and substantially all of whose assets and business are located or conducted outside
the United States of America,

(vii)       Debt
of a Person existing at the time such Person is merged into or consolidated with the Guarantor or any Subsidiary of the Guarantor
or becomes a Subsidiary of the Guarantor; provided that such Debt was not created in contemplation of such merger, consolidation
or acquisition, provided further that the aggregate principal amount of the Debt referred to in this clause (vii) shall not
exceed $50,000,000 at any time outstanding,

(viii)       (x)
Debt consisting of any guaranty made by any Subsidiary of the Guarantor in respect of Debt of any Loan Party, provided that such
Subsidiary shall have entered into a guaranty of the Debt of the Guarantor under this Agreement in form and substance reasonably
satisfactory to the Required Lenders and (y) Debt constituting guaranties of the Debt of the Guarantor under this Agreement,

(ix)       indorsement
of negotiable instruments for deposit or collection or similar transactions in the ordinary course of business; and

(x)       other
Debt (whether secured or unsecured) in aggregate principal amount at any time outstanding that does not exceed (A) 15% of Consolidated
net worth of the Guarantor and its Subsidiaries as set forth in the Guarantor’s most recent financial statements delivered
pursuant to Section 5.01(h)(i) minus (B) without duplication of any Debt incurred in accordance with this clause (x), Debt
secured by Liens permitted by Section 5.02(a)(viii).

(e)       Use
of Proceeds. Request any Borrowing, nor knowingly use the proceeds thereof, nor permit the Borrower to request any Borrowing
or knowingly use the proceeds of any Borrowing, (i) in furtherance of an offer, payment, promise to pay, or authorization of the
payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws or Additional Anti-Corruption
Laws, (ii) for the purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned
Person (or, to the knowledge of any officer, director or employee of the Guarantor who is engaged in or has approved a transaction
with such Person, any Person in which a Sanctioned Person owns, directly or indirectly, a 50 percent or greater interest) or in
any Sanctioned Country, or (iii) in any manner that would result in the violation of any Sanctions applicable to any party hereto.
For purposes of this provision, “to knowingly use the proceeds” would mean (a) that such purpose was expressly authorized
by the Guarantor, the Borrower, or their respective senior officers or directors, or (b) allowing any Subsidiary or any officer,
director, employee or agent of the Guarantor, the Borrower or any Subsidiary to use the proceeds for any purpose set forth in clauses
(i), (ii) and (iii) above, if the officers and employees of the Guarantor and/or the Borrower with responsibility for requesting
such Borrowing or allocating funds for use has actual knowledge that such proceeds would be used for such purpose.

SECTION 5.03. Financial
Covenant. So long as any Advance shall remain unpaid or any Lender shall have any Commitment hereunder, the Guarantor will
maintain a ratio of Consolidated Debt for Borrowed Money of the Guarantor and its Subsidiaries to Consolidated EBITDA of the Guarantor
and its Subsidiaries (the “Leverage 

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Ratio”)
for the four quarters most recently ended of not greater than 3.50 to 1.00 (or, following the Agent’s receipt of notice from
the Company of a Specified Acquisition (a “Covenant Notice”), for four consecutive fiscal quarters commencing
with the fiscal quarter in which such Specified Acquisition occurs, (without any consent from the Agent or the Lenders), 4.00 to
1.00); provided that there shall be a period of at least two consecutive fiscal quarters after the covenant steps down to
3.50 to 1.00 before a subsequent Covenant Notice is submitted.

ARTICLE VI

EVENTS OF DEFAULT

SECTION 6.01. Events
of Default. If any of the following events (“Events of Default”) shall occur and be continuing:

(a)       The
Borrower shall fail to pay any principal of any Advance when the same becomes due and payable; or the Borrower shall fail to pay
any interest on any Advance or make any other payment of fees or other amounts payable under this Agreement or any Note within
five Business Days after the same becomes due and payable; or

(b)       Any
representation or warranty made by the Guarantor herein or by any Loan Party (or any of its officers) in connection with this Agreement
shall prove to have been incorrect in any material respect when made; or

(c)       (i) The
Guarantor shall fail to perform or observe any term, covenant or agreement contained in Section 5.01(d), (e) or (h), 5.02
or 5.03, or (ii) any Loan Party shall fail to perform or observe any other term, covenant or agreement contained in this Agreement
on its part to be performed or observed if such failure shall remain unremedied for 30 days after written notice thereof shall
have been given to the Guarantor by the Agent or any Lender; or

(d)       The
Guarantor or any of its Material Subsidiaries shall fail to pay any principal of or premium or interest on any Debt that is outstanding
in a principal or notional amount of at least $125,000,000 in the aggregate (but excluding Debt outstanding hereunder) of the Guarantor
or such Material Subsidiary (as the case may be), when the same becomes due and payable (whether by scheduled maturity, required
prepayment, acceleration, demand or otherwise), and such failure shall continue after the applicable grace period, if any, specified
in the agreement or instrument relating to such Debt; or any other event shall occur or condition shall exist under any agreement
or instrument relating to any such Debt and shall continue after the applicable grace period, if any, specified in such agreement
or instrument, if the effect of such event or condition is to accelerate, or to permit the acceleration of, the maturity of such
Debt; or any such Debt shall be declared to be due and payable, or required to be prepaid or redeemed (other than by a regularly
scheduled required prepayment or redemption), purchased or defeased, or an offer to prepay, redeem, purchase or defease such Debt
shall be required to be made, in each case prior to the stated maturity thereof; or

(e)       The
Guarantor or any of its Material Subsidiaries shall generally not pay its debts as such debts become due, or shall admit in writing
its inability to pay its debts generally, or shall make a general assignment for the benefit of creditors; or any proceeding shall
be instituted by or against the Guarantor or any of its Material Subsidiaries seeking to adjudicate it a bankrupt or insolvent,
or seeking liquidation, winding up, reorganization, arrangement, adjustment, protection, relief, or composition of it or its debts
under any law relating to bankruptcy, insolvency or reorganization or relief of debtors, or seeking the entry of an order for relief
or the appointment of a receiver, trustee, custodian or other similar official for it or for any substantial part of its property
and, in the case of any such proceeding instituted against it (but not instituted by it), either such proceeding shall remain undismissed
or unstayed for a period of 60 days, or any of the actions sought in such proceeding (including, without limitation, the entry
of an order for relief against, or the appointment of a receiver, trustee, custodian or other similar official for, it or for any
substantial part of its property) shall occur; or the Guarantor or any of its Material Subsidiaries shall take any corporate or
organizational, as applicable, action to authorize any of the actions set forth above in this subsection (e); or

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(f)       Judgments
or orders for the payment of money in excess of $125,000,000 in the aggregate shall be rendered against the Guarantor or any of
its Material Subsidiaries and either (i) enforcement proceedings shall have been commenced by any creditor upon such judgment
or order or (ii) there shall be any period of 60 consecutive days during which a stay of enforcement of such judgment or order,
by reason of a pending appeal or otherwise, shall not be in effect; provided, however, that any such judgment or order shall not
be an Event of Default under this Section 6.01(f) if and for so long as (i) the amount of such judgment or order is covered
by a valid and binding policy of insurance between the defendant and the insurer covering payment thereof and (ii) such insurer,
which shall be rated at least “A” by A.M. Best Company, has been notified of, and has not disputed the claim made for
payment of, the amount of such judgment or order; or

(g)       (i) Any
Person or two or more Persons acting in concert shall have acquired beneficial ownership (within the meaning of Rule 13d-3
of the SEC under the Securities Exchange Act of 1934), directly or indirectly, of Voting Stock of the Guarantor (or other securities
convertible into such Voting Stock) representing 50% or more of the combined voting power of all Voting Stock of the Guarantor;
or (ii) during any period of up to 12 consecutive months, commencing after the date of this Agreement, individuals who at
the beginning of such 12-month period were directors of the Guarantor shall cease for any reason to constitute a majority of the
board of directors of the Guarantor; or (iii) the Guarantor shall cease for any reason to own, directly or indirectly, 100%
of the Voting Stock of the Borrower; or

(h)       Any
material provision of the Guaranty shall cease to be valid and binding on or enforceable against the Guarantor, or the Guarantor
shall so state in writing; or

(i)       The
Guarantor or any of its ERISA Affiliates shall incur, or shall be reasonably likely to incur liability in excess of $125,000,000
in the aggregate as a result of one or more of the following: (i) the occurrence of any ERISA Event; (ii) the partial
or complete withdrawal of the Guarantor or any of its ERISA Affiliates from a Multiemployer Plan; or (iii) the reorganization
or termination of a Multiemployer Plan;

then, and in any such
event, the Agent (i) shall at the request, or may with the consent, of the Required Lenders, by notice to the Borrower, declare
the obligation of each Lender to make Advances to be terminated, whereupon the same shall forthwith terminate, and (ii) shall
at the request, or may with the consent, of the Required Lenders, by notice to the Borrower, declare the Advances, all interest
thereon and all other amounts payable under this Agreement to be forthwith due and payable, whereupon the Advances, all such interest
and all such amounts shall become and be forthwith due and payable, without presentment, demand, protest or further notice of any
kind, all of which are hereby expressly waived by the Borrower; provided, however, that in the event of an actual or deemed entry
of an order for relief with respect to any Loan Party under the Federal Bankruptcy Code, (A) the obligation of each Lender
to make Advances shall automatically be terminated and (B) the Advances, all such interest and all such amounts shall automatically
become and be due and payable, without presentment, demand, protest or any notice of any kind, all of which are hereby expressly
waived by the Borrower.

ARTICLE VII

GUARANTY

SECTION 7.01. Guaranty.
The Guarantor hereby absolutely, unconditionally and irrevocably guarantees the punctual payment when due, whether at scheduled
maturity or on any date of a required prepayment or by acceleration, demand or otherwise, of all obligations of each other Loan
Party now or hereafter existing under or in respect of this Agreement and the Notes (including, without limitation, any extensions,
modifications, substitutions, amendments or renewals of any or all of the foregoing obligations), whether direct or indirect, absolute
or contingent, and whether for principal, interest, premiums, fees, indemnities, contract causes of action, costs, expenses or
otherwise (such obligations being the “Guaranteed Obligations”), and agrees to pay any and all expenses (including,
without limitation, fees and expenses of outside counsel and the allocated costs and expenses of in-house counsel) incurred by
the Agent or any Lender in enforcing any rights under this Agreement. Without limiting the generality of the foregoing, the Guarantor’s
liability shall extend to all amounts that constitute part of the Guaranteed Obligations and would be owed by any other Loan Party
to the Agent or any Lender under or in respect of this Agreement and the Notes but for the fact that they are unenforceable or
not allowable due to the existence of a bankruptcy, reorganization or similar proceeding involving such other Loan Party.

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SECTION 7.02. Guaranty
Absolute. The Guarantor guarantees that the Guaranteed Obligations will be paid strictly in accordance with the terms of this
Agreement and the Notes, regardless of any law, regulation or order now or hereafter in effect in any jurisdiction affecting any
of such terms or the rights of the Agent or any Lender with respect thereto. This Guaranty is an absolute and unconditional guaranty
of payment when due, and not of collection, by the Guarantor of the Guaranteed Obligations. The obligations of the Guarantor under
or in respect of this Guaranty are independent of the Guaranteed Obligations or any other obligations of any other Loan Party under
or in respect of this Agreement and the Notes, and a separate action or actions may be brought and prosecuted against the Guarantor
to enforce this Guaranty, irrespective of whether any action is brought against the Borrower or whether the Borrower is joined
in any such action or actions. The liability of the Guarantor under this Guaranty shall be irrevocable, absolute and unconditional
irrespective of, and the Guarantor hereby irrevocably waives any defenses it may now have or hereafter acquire in any way relating
to, any or all of the following:

(a)       any
lack of validity or enforceability of any provision of this Agreement or any Note or any agreement or instrument relating thereto;

(b)       any
change in the time, manner or place of payment of, or in any other term of, all or any of the Guaranteed Obligations or any other
obligations of the Borrower under or in respect of this Agreement or the Notes, or any other amendment or waiver of or any consent
to departure from this Agreement or the Notes, including, without limitation, any increase in the Guaranteed Obligations resulting
from the extension of additional credit to the Borrower or any of its Subsidiaries or otherwise;

(c)       any
taking, exchange, release or non-perfection of any collateral, or any taking, release or amendment or waiver of, or consent to
departure from, any other guaranty, for all or any of the Guaranteed Obligations;

(d)       any
manner of application of collateral, or proceeds thereof, to all or any of the Guaranteed Obligations, or any manner of sale or
other disposition of any collateral for all or any of the Guaranteed Obligations or any other obligations of any Loan Party under
this Agreement or the Notes or any other assets of the Borrower or any of its Subsidiaries;

(e)       any
change, restructuring or termination of the corporate structure or existence of the Borrower or any of its Subsidiaries;

(f)       any
failure of the Agent or any Lender to disclose to the Guarantor any information relating to the business, condition (financial
or otherwise), operations, performance, properties or prospects of the Borrower now or hereafter known to the Agent or such Lender
(the Guarantor waiving any duty on the part of the Agent and the Lenders to disclose such information);

(g)       the
failure of any other Person to execute or deliver any other guaranty or agreement or the release or reduction of liability of the
Guarantor or other guarantor or surety with respect to the Guaranteed Obligations; or

(h)       any
other circumstance (including, without limitation, any statute of limitations) or any existence of or reliance on any representation
by the Agent or any Lender that might otherwise constitute a defense available to, or a discharge of, any Loan Party or any other
guarantor or surety.

This Guaranty shall
continue to be effective or be reinstated, as the case may be, if at any time any payment of any of the Guaranteed Obligations
is rescinded or must otherwise be returned by the Agent or any Lender or any other Person upon the insolvency, bankruptcy or reorganization
of the Borrower or otherwise, all as though such payment had not been made.

SECTION 7.03. Waivers
and Acknowledgments. (a) The Guarantor hereby unconditionally and irrevocably waives promptness, diligence, notice of acceptance,
presentment, demand for performance, notice of nonperformance, default, acceleration, protest or dishonor and any other notice
with respect to any of the Guaranteed Obligations and this Guaranty and any requirement that the Agent or any Lender protect, secure,
perfect or insure any

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Lien or any property
subject thereto or exhaust any right or take any action against any Loan Party or any other Person or any collateral.

(b)       The
Guarantor hereby unconditionally and irrevocably waives any right to revoke this Guaranty and acknowledges that this Guaranty is
continuing in nature and applies to all Guaranteed Obligations, whether existing now or in the future.

(c)       The
Guarantor hereby unconditionally and irrevocably waives (i) any defense arising by reason of any claim or defense based upon
an election of remedies by the Agent or any Lender that in any manner impairs, reduces, releases or otherwise adversely affects
the subrogation, reimbursement, exoneration, contribution or indemnification rights of the Guarantor or other rights of the Guarantor
to proceed against any of the other Loan Parties, any other guarantor or any other Person or any collateral and (ii) any defense
based on any right of set-off or counterclaim against or in respect of the obligations of the Guarantor hereunder.

(d)       The
Guarantor hereby unconditionally and irrevocably waives any duty on the part of the Agent or any Lender to disclose to the Guarantor
any matter, fact or thing relating to the business, condition (financial or otherwise), operations, performance, properties or
prospects of any other Loan Party or any of its Subsidiaries now or hereafter known by the Agent or such Lender.

(e)       The
Guarantor acknowledges that it will receive substantial direct and indirect benefits from the financing arrangements contemplated
by this Agreement and that the waivers set forth in Section 7.02 and this Section 7.03 are knowingly made in contemplation
of such benefits.

SECTION 7.04. Subrogation.
The Guarantor hereby unconditionally and irrevocably agrees not to exercise any rights that it may now have or hereafter acquire
against the Borrower or any other insider guarantor that arise from the existence, payment, performance or enforcement of the Guarantor’s
obligations under or in respect of this Guaranty, including, without limitation, any right of subrogation, reimbursement, exoneration,
contribution or indemnification and any right to participate in any claim or remedy of the Agent or any Lender against the Borrower
or any other insider guarantor or any collateral, whether or not such claim, remedy or right arises in equity or under contract,
statute or common law, including, without limitation, the right to take or receive from the Borrower or any other insider guarantor,
directly or indirectly, in cash or other property or by set-off or in any other manner, payment or security on account of such
claim, remedy or right, unless and until all of the Guaranteed Obligations and all other amounts payable under this Guaranty shall
have been paid in full in cash and the Commitments shall have expired or been terminated. If any amount shall be paid to the Guarantor
in violation of the immediately preceding sentence at any time prior to the later of the payment in full in cash of the Guaranteed
Obligations and all other amounts payable under this Guaranty and the Termination Date, such amount shall be received and held
in trust for the benefit of Agent and the Lenders, shall be segregated from other property and funds of the Guarantor and shall
forthwith be paid or delivered to the Agent in the same form as so received (with any necessary endorsement or assignment) to be
credited and applied to the Guaranteed Obligations and all other amounts payable under this Guaranty, whether matured or unmatured,
in accordance with the terms of this Agreement, or to be held as collateral for any Guaranteed Obligations or other amounts payable
under this Guaranty thereafter arising. If (i) the Guarantor shall make payment to the Agent or any Lender of all or any part
of the Guaranteed Obligations, (ii) all of the Guaranteed Obligations and all other amounts payable under this Guaranty shall
have been paid in full in cash and (iii) the Termination Date shall have occurred, the Agent and the Lenders will, at the
Guarantor’s request and expense, execute and deliver to the Guarantor appropriate documents, without recourse and without
representation or warranty, necessary to evidence the transfer by subrogation to the Guarantor of an interest in the Guaranteed
Obligations resulting from such payment made by the Guarantor pursuant to this Guaranty.

SECTION 7.05. Subordination.
The Guarantor hereby subordinates any and all debts, liabilities and other obligations owed to the Guarantor by each other Loan
Party (the “Subordinated Obligations”) to the Guaranteed Obligations to the extent and in the manner hereinafter
set forth in this Section 7.05:

(a)       Prior
Payment of Guaranteed Obligations. In any proceeding under any Bankruptcy Law relating to any other Loan Party, the Guarantor
agrees that the Agent and the Lenders shall be entitled to receive payment in full in cash of all Guaranteed Obligations (including
all interest and expenses accruing after the

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commencement of a
proceeding under any Bankruptcy Law, whether or not constituting an allowed claim in such proceeding (“Post Petition Interest”))
before the Guarantor receives payment of any Subordinated Obligations.

(b)       Turn-Over.
After the occurrence and during the continuance of any Event of Default under Section 6.01(e), the Guarantor shall, if the Agent
so requests, collect, enforce and receive payments on account of the Subordinated Obligations as trustee for the Agent and the
Lenders and deliver such payments to the Agent on account of the Guaranteed Obligations (including all Post Petition Interest),
together with any necessary endorsements or other instruments of transfer, but without reducing or affecting in any manner the
liability of the Guarantor under the other provisions of this Guaranty.

(c)       Agent
Authorization. After the occurrence and during the continuance of any Event of Default under Section 6.01(e), the Agent is
authorized and empowered (but without any obligation to so do), in its discretion, (i) in the name of the Guarantor, to collect
and enforce, and to submit claims in respect of, Subordinated Obligations and to apply any amounts received thereon to the Guaranteed
Obligations (including any and all Post Petition Interest), and (ii) to require the Guarantor (A) to collect and enforce, and to
submit claims in respect of, Subordinated Obligations and (B) to pay any amounts received on such obligations to the Agent for
application to the Guaranteed Obligations (including any and all Post Petition Interest).

SECTION 7.06. Continuing
Guaranty; Assignments. This Guaranty is a continuing guaranty and shall (a) remain in full force and effect until the
later of the payment in full in cash of the Guaranteed Obligations and all other amounts payable under this Guaranty and the Termination
Date, (b) be binding upon the Guarantor, its successors and assigns and (c) inure to the benefit of and be enforceable
by the Agent and the Lenders and their successors, transferees and assigns. Without limiting the generality of clause (c)
of the immediately preceding sentence, any Lender may assign or otherwise transfer all or any portion of its rights and obligations
under this Agreement (including, without limitation, all or any portion of its Commitments, the Advances owing to it and the Note
or Notes held by it) to any other Person, and such other Person shall thereupon become vested with all the benefits in respect
thereof granted to such Lender herein or otherwise, in each case as and to the extent provided in Section 9.07. The Guarantor
shall not have the right to assign its rights hereunder or any interest herein without the prior written consent of each of the
Lenders.

ARTICLE VIII

THE AGENT

SECTION 8.01. Authorization
and Authority. Each Lender hereby irrevocably appoints Citibank to act on its behalf as the Agent hereunder and authorizes
the Agent to take such actions on its behalf and to exercise such powers as are delegated to the Agent by the terms hereof, together
with such actions and powers as are reasonably incidental thereto. The provisions of this Article VIII are solely for the benefit
of the Agent and the Lenders, and neither the Guarantor nor any other Loan Party shall have rights as a third party beneficiary
of any of such provisions. It is understood and agreed that the use of the term “agent” herein or in any Note (or any
other similar term) with reference to the Agent is not intended to connote any fiduciary or other implied (or express) obligations
arising under agency doctrine of any applicable law. Instead such term is used as a matter of market custom, and is intended to
create or reflect only an administrative relationship between contracting parties.

SECTION 8.02. Rights
as a Lender. (a) The Person serving as the Agent hereunder shall have the same rights and powers in its capacity as a Lender
as any other Lender and may exercise the same as though it were not the Agent and the term “Lender” or “Lenders”
shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Agent hereunder
in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, own securities of, act as the
financial advisor or in any other advisory capacity for and generally engage in any kind of business with the Guarantor or any
Subsidiary or other Affiliate thereof as if such Person were not the Agent hereunder and without any duty to account therefor to
the Lenders.

SECTION 8.03. Duties
of Agent; Exculpatory Provisions. (a) The Agent’s duties hereunder are solely ministerial and administrative in nature
and the Agent shall not have any duties or obligations except those expressly set forth herein. Without limiting the generality
of the foregoing, the Agent:

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(i)       shall
not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing;

(ii)       shall
not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers
expressly contemplated hereby that the Agent is required to exercise as directed in writing by the Required Lenders (or such other
number or percentage of the Lenders as shall be expressly provided for herein); provided that the Agent shall not be required to
take any action that, in its opinion or the opinion of its counsel, may expose the Agent to liability or that is contrary to this
Agreement or applicable law, including for the avoidance of doubt any action that may be in violation of the automatic stay under
any debtor relief law or that may effect a forfeiture, modification or termination of property of a Defaulting Lender in violation
of any debtor relief law; and

(iii)       shall
not, except as expressly set forth herein, have any duty to disclose, and shall not be liable for the failure to disclose, any
information relating to the Guarantor or any of its Affiliates that is communicated to or obtained by the Agent or any of its Affiliates
in any capacity.

(b)       The
Agent shall not be liable for any action taken or not taken by it (i) with the consent or at the request of the Required Lenders
(or such other number or percentage of the Lenders as shall be necessary, or as the Agent shall believe in good faith shall be
necessary, under the circumstances as provided in Sections 9.01 or 6.01) or (ii) in the absence of its own gross negligence
or willful misconduct. The Agent shall be deemed not to have knowledge of any Default or the event or events that give or may give
rise to any Default unless and until the Guarantor or any Lender shall have given notice to the Agent describing such Default and
such event or events.

(c)       The
Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty, representation
or other information made or supplied in or in connection with this Agreement (ii)  the contents of any certificate, report
or other document delivered hereunder or thereunder or in connection herewith or therewith or the adequacy, accuracy and/or completeness
of the information contained therein, (iii) the performance or observance of any of the covenants, agreements or other terms
or conditions set forth herein or therein or the occurrence of any Default, (iv) the validity, enforceability, effectiveness
or genuineness of this Agreement or any other agreement, instrument or document or the perfection or priority of any Lien or security
interest created or purported to be created hereby or (v) the satisfaction of any condition set forth in Article III
or elsewhere herein, other than (but subject to the foregoing clause (ii)) to confirm receipt of items expressly required to be
delivered to the Agent.

(d)       Nothing
in this Agreement shall require the Agent or any of its Related Parties to carry out any “know your customer” or other
checks in relation to any person on behalf of any Lender and each Lender confirms to the Agent that it is solely responsible for
any such checks it is required to carry out and that it may not rely on any statement in relation to such checks made by the Agent
or any of its Related Parties.

SECTION 8.04. Reliance
by Agent. The Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request,
certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet
website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated by
the proper Person. The Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been
made by the proper Person, and shall not incur any liability for relying thereon. In determining compliance with any condition
hereunder to the making of an Advance that by its terms must be fulfilled to the satisfaction of a Lender, the Agent may presume
that such condition is satisfactory to such Lender unless an officer of the Agent responsible for the transactions contemplated
hereby shall have received notice to the contrary from such Lender prior to the making of such Advance, and in the case of a Borrowing,
such Lender shall not have made available to the Agent such Lender’s ratable portion of such Borrowing. The Agent may consult
with legal counsel (who may be counsel for the Guarantor or any other Loan Party), independent accountants and other experts selected
by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants
or experts.

SECTION 8.05. Delegation
of Duties. The Agent may perform any and all of its duties and exercise its rights and powers hereunder by or through any one
or more sub-agents appointed by the Agent. The Agent and any such sub-agent may perform any and all of its duties and exercise
its rights and powers by or through their

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respective Related
Parties. Each such sub-agent and the Related Parties of the Agent and each such sub-agent shall be entitled to the benefits
of all provisions of this Article VIII and Section 9.04 (as though such sub-agents were the “Agent” hereunder) as if
set forth in full herein with respect thereto.

SECTION 8.06. Resignation
of Agent. (a) The Agent may at any time give notice of its resignation to the Lenders and the Guarantor. Upon receipt of any
such notice of resignation, the Required Lenders shall have the right, in consultation with the Guarantor, to appoint a successor
Agent, which shall be a bank with an office in New York, New York, or an Affiliate of any bank with an office in New York, New
York. If no such successor Agent shall have been so appointed by the Required Lenders and shall have accepted such appointment
within 30 days after the retiring Agent gives notice of its resignation (or such earlier day as shall be agreed by the Required
Lenders) (the “Resignation Effective Date”), then the retiring Agent may (but shall not be obligated to), on behalf
of the Lenders, appoint a successor Agent meeting the qualifications set forth above. Whether or not a successor Agent has been
appointed, such resignation shall become effective in accordance with such notice on the Resignation Effective Date.

(b)       If
the Person serving as Agent is a Defaulting Lender pursuant to clause (d) of the definition thereof, the Required Lenders may,
to the extent permitted by applicable law, by notice in writing to the Guarantor and such Person remove such Person as Agent and,
in consultation with the Guarantor, appoint a successor Agent. If no such successor Agent shall have been so appointed by the Required
Lenders and shall have accepted such appointment within 30 days (or such earlier day as shall be agreed by the Required Lenders)
(the “Removal Effective Date”), then such removal shall nonetheless become effective in accordance with such notice
on the Removal Effective Date.

(c) With effect from
the Resignation Effective Date or the Removal Effective Date (as applicable) (1) the retiring or removed Agent shall be discharged
from its duties and obligations as Agent hereunder and (2) except for any indemnity payments owed to the retiring or removed Agent,
all payments, communications and determinations provided to be made by, to or through the Agent shall instead be made by or to
each Lender directly, until such time, if any, as the Required Lenders appoint a successor Agent as provided for above. Upon the
acceptance of a successor Agent’s appointment as Agent hereunder, such successor Agent shall succeed to and become vested
with all of the rights, powers, privileges and duties as Agent of the retiring or removed Agent (other than any rights to indemnity
payments owed to the retiring or removed Agent), and the retiring or removed Agent shall be discharged as Agent from all of its
duties and obligations hereunder. The fees payable by the Borrower to a successor Agent shall be the same as those payable to its
predecessor unless otherwise agreed between the Borrower and such successor Agent. After the retiring or removed Agent’s
resignation or removal hereunder, the provisions of this Article VIII and Section 9.04 shall continue in effect for the benefit
of such retiring or removed Agent, its sub agents and their respective Related Parties in respect of any actions taken or omitted
to be taken by any of them while the retiring or removed Agent was acting as Agent.

SECTION 8.07. Non-Reliance
on Agent and Other Lenders. (a) Each Lender confirms to the Agent, each other Lender and each of their respective Related Parties
that it (i) possesses (individually or through its Related Parties) such knowledge and experience in financial and business matters
that it is capable, without reliance on the Agent, any other Lender or any of their respective Related Parties, of evaluating the
merits and risks (including tax, legal, regulatory, credit, accounting and other financial matters) of (x) entering into this Agreement,
(y) making Advances and other extensions of credit hereunder and (z) in taking or not taking actions hereunder, (ii) is financially
able to bear such risks and (iii) has determined that entering into this Agreement and making Advances and other extensions of
credit hereunder is suitable and appropriate for it.

(b)       Each
Lender acknowledges that (i) it is solely responsible for making its own independent appraisal and investigation of all risks arising
under or in connection with this Agreement, (ii) that it has, independently and without reliance upon the Agent, any other Lender
or any of their respective Related Parties, made its own appraisal and investigation of all risks associated with, and its own
credit analysis and decision to enter into, this Agreement based on such documents and information as it has deemed appropriate
and (iii) it will, independently and without reliance upon the Agent, any other Lender or any of their respective Related Parties,
continue to be solely responsible for making its own appraisal and investigation of all risks arising under or in connection with,
and its own credit analysis and decision to take or not take action under, this Agreement based on such documents and information
as it shall from time to time deem appropriate, which may include, in each case:

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(i)       the
financial condition, status and capitalization of the Guarantor and each other Loan Party;

(ii)       the
legality, validity, effectiveness, adequacy or enforceability of this Agreement and any other agreement, arrangement or document
entered into, made or executed in anticipation of, under or in connection with this Agreement;

(iii)       determining
compliance or non-compliance with any condition hereunder to the making of an Advance and the form and substance of all evidence
delivered in connection with establishing the satisfaction of each such condition; and

(iv)       the
adequacy, accuracy and/or completeness of any information delivered by the Agent, any other Lender or by any of their respective
Related Parties under or in connection with this Agreement, the transactions contemplated hereby and thereby or any other agreement,
arrangement or document entered into, made or executed in anticipation of, under or in connection with this Agreement.

SECTION 8.08. No
Other Duties, Etc. Anything herein to the contrary notwithstanding, none of the Persons acting as Bookrunners, Arrangers or
syndication agent listed on the cover page hereof shall have any powers, duties or responsibilities under this Agreement, except
in its capacity, as applicable, as the Agent or as a Lender hereunder.

SECTION 8.09. 
Lender ERISA Representation. (a) Each Lender (x) represents and warrants, as of the date such Person became a Lender party
hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender
party hereto, for the benefit of, the Agent and not, for the avoidance of doubt, to or for the benefit of any Loan Party, that
at least one of the following is and will be true:

(i)       such
Lender is not using “plan assets” (within the meaning of Section 3(42) of ERISA or otherwise) of one or more Benefit
Plans with respect to such Lender’s entrance into, participation in, administration of and performance of the Advances, the
Commitments or this Agreement,

(ii)       the
transaction exemption set forth in one or more PTEs, such as PTE 84-14 (a class exemption for certain transactions determined by
independent qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions involving insurance company
general accounts), PTE 90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts),
PTE 91-38 (a class exemption for certain transactions involving bank collective investment funds) or PTE 96-23 (a class exemption
for certain transactions determined by in-house asset managers), is applicable with respect to such Lender’s entrance into,
participation in, administration of and performance of the Advances, the Commitments and this Agreement,

(iii)       (A)
such Lender is an investment fund managed by a “Qualified Professional Asset Manager” (within the meaning of Part VI
of PTE 84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to enter into,
participate in, administer and perform the Advances, the Commitments and this Agreement, (C) the entrance into, participation in,
administration of and performance of the Advances, the Commitments and this Agreement satisfies the requirements of sub-sections
(b) through (g) of Part I of PTE 84-14 and (D) to the best knowledge of such Lender, the requirements of subsection (a) of Part
I of PTE 84-14 are satisfied with respect to such Lender’s entrance into, participation in, administration of and performance
of the Advances, the Commitments and this Agreement, or

(iv)       such
other representation, warranty and covenant as may be agreed in writing between the Agent, in its sole discretion, and such Lender.

(b)
In addition, unless either (1) sub-clause (i) in the immediately preceding clause (a) is true with respect to a Lender or (2) a
Lender has provided another representation, warranty and covenant in accordance with sub-clause (iv) in the immediately preceding
clause (a), such Lender further (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y)
covenants, from the date such Person became a Lender party 

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hereto to the date
such Person ceases being a Lender party hereto, for the benefit of, the Agent and not, for the avoidance of doubt, to or for the
benefit of any Loan Party, that the Agent is not a fiduciary with respect to the assets of such Lender involved in such Lender’s
entrance into, participation in, administration of and performance of the Advances, the Commitments and this Agreement (including
in connection with the reservation or exercise of any rights by the Agent under this Agreement or any documents related hereto).

As used in this Section:

“Benefit
Plan” means any of (a) an “employee benefit plan” (as defined in ERISA) that is subject to Title I of ERISA,
(b) a “plan” as defined in and subject to Section 4975 of the Internal Revenue Code or (c) any Person whose assets
include (for purposes of ERISA Section 3(42) or otherwise for purposes of Title I of ERISA or Section 4975 of the Internal Revenue
Code) the assets of any such “employee benefit plan” or “plan”.

“PTE”
means a prohibited transaction class exemption issued by the U.S. Department of Labor, as any such exemption may be amended from
time to time.

ARTICLE IX

MISCELLANEOUS

SECTION 9.01. Amendments,
Etc. No amendment or waiver of any provision of this Agreement or the Notes, nor consent to any departure by any Loan Party
therefrom, shall in any event be effective unless the same shall be in writing and signed by the Required Lenders and (except for
waivers or consents by any Lender) each of the Loan Parties, and then such waiver or consent shall be effective only in the specific
instance and for the specific purpose for which given; provided, however, that (a) no amendment, waiver or consent
shall, unless in writing and signed by all the Lenders, do any of the following: (i) waive any of the conditions specified
in Section 3.01, (ii) change the percentage of the Revolving Credit Commitments or of the aggregate unpaid principal
amount of the Advances, or the number of Lenders, that shall be required for the Lenders or any of them to take any action hereunder
or change the definition of “Required Lenders”, (iii) reduce or limit the obligations of the Guarantor under Section
7.01 or release the Guarantor or otherwise limit the Guarantor’s liability with respect to the obligations owing to the Agent
and the Lenders under Article VII or (iv) amend this Section 9.01 and (b) no amendment, waiver or consent shall, unless in
writing and signed by each of the Lenders directly affected thereby, do any of the following: (i) increase the Commitments
of the Lenders, (ii) reduce the principal of, or rate of interest on, the Advances or any fees or other amounts payable hereunder
or (iii) extend the Commitments of the Lenders or postpone any date fixed for any payment of principal of, or interest on, the
Advances or any fees or other amounts payable hereunder, and provided further that no amendment, waiver or consent shall,
unless in writing and signed by the Agent in addition to the Lenders required above to take such action, affect the rights or duties
of the Agent under this Agreement or any Note.

SECTION 9.02. Notices,
Etc. (a) Notices Generally. Except in the case of notices and other communications expressly permitted to be given by
telephone (and except as provided in paragraph (b) below), all notices and other communications provided for herein shall be in
writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by facsimile
as follows:

(i)       if
to any Loan Party, to it at the address of the Guarantor at 1055 Washington Blvd, Stamford, Connecticut 06901, Attention: Rochelle
Tarlowe (Email: Rochelle.tarlowe@omnicomgroup.com; Telephone No. 203-618-1510)
and 437 Madison Avenue, New York, New York 10022, Attention: General Counsel;

(ii)       if
to the Agent, to Citibank at One Penns Way, Ops II, Floor 2, New Castle, Delaware 19720, Attention: Agency Operations (Email: :
AgencyABTFSupport@citi.com with a copy to GlAgentOfficeOps@Citi.com;
Facsimile No. 646-274-5080; Telephone No. 302-894-6010);

(iii)       if
to a Lender, to it at its address (or facsimile number) set forth in its Administrative Questionnaire.

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Notices sent by hand
or overnight courier service, or mailed by certified or registered mail, shall be deemed to have been given when received; notices
sent by facsimile shall be deemed to have been given when sent with written confirmation of error-free transmission (except that,
if not given during normal business hours for the recipient, shall be deemed to have been given at the opening of business on the
next Business Day for the recipient). Notices delivered through electronic communications, to the extent provided in paragraph
(b) below, shall be effective as provided in said paragraph (b).

(b)       Electronic
Communications. Notices and other communications to the Lenders hereunder may be delivered or furnished by electronic communication
(including e-mail and Internet or intranet websites) pursuant to procedures approved by the Agent, provided that the foregoing
shall not apply to notices to any Lender pursuant to Article II if such Lender has notified the Agent that it is incapable of receiving
notices under such Article by electronic communication. The Agent or any Loan Party may, in its discretion, agree to accept notices
and other communications to it hereunder by electronic communications pursuant to procedures approved by it; provided that approval
of such procedures may be limited to particular notices or communications. Unless the Agent otherwise prescribes, (i) notices and
other communications sent to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from
the intended recipient (such as by the “return receipt requested” function, as available, return e-mail or other written
acknowledgement), and (ii) notices and other communications posted to an Internet or intranet website shall be deemed received
upon the deemed receipt by the intended recipient, at its e-mail address as described in the foregoing clause (i), of notification
that such notice or communication is available and identifying the website address therefor; provided that, for both clauses (i)
and (ii) above, if such notice or other communication is not sent during the normal business hours of the recipient, such notice
or communication shall be deemed to have been sent at the opening of business on the next Business Day for the recipient.

(c)       Change
of Address, Etc. Any party hereto may change its address or facsimile number for notices and other communications hereunder
by notice to the other parties hereto.

(d)       Platform.

(i)       Each
Loan Party agrees that the Agent may, but shall not be obligated to, make the Communications (as defined below) available to the
Lenders by posting the Communications on Debt Domain, Intralinks, Syndtrak or a substantially similar electronic transmission system
(the “Platform”).

(ii)       The
Platform is provided “as is” and “as available.” The Agent Parties (as defined below) do not warrant the
adequacy of the Platform and expressly disclaim liability for errors or omissions in the Communications. No warranty of any kind,
express, implied or statutory, including, without limitation, any warranty of merchantability, fitness for a particular purpose,
non-infringement of third-party rights or freedom from viruses or other code defects, is made by any Agent Party in connection
with the Communications or the Platform. In no event shall the Agent or any of its Related Parties (collectively, the “Agent
Parties”) have any liability to the Loan Parties, any Lender or any other Person or entity for damages of any kind, including,
without limitation, direct or indirect, special, incidental or consequential damages, losses or expenses (whether in tort, contract
or otherwise) arising out of the Agent’s transmission of Communications through the Platform. “Communications”
means, collectively, any notice, demand, communication, information, document or other material that any Loan Party provides to
the Agent pursuant to this Agreement or the transactions contemplated hereby which is made available by the Agent to any Lender
by posting same on the Platform.

SECTION 9.03. No
Waiver; Remedies. No failure on the part of any Lender or the Agent to exercise, and no delay in exercising, any right hereunder
or under any Note shall operate as a waiver thereof; nor shall any single or partial exercise of any such right preclude any other
or further exercise thereof or the exercise of any other right. The remedies herein provided are cumulative and not exclusive of
any remedies provided by law.

SECTION 9.04. Costs
and Expenses. (a) The Borrower agrees to pay on demand all costs and expenses of the Agent in connection with the preparation,
execution, delivery, administration, modification and amendment of this Agreement, the Notes and the other documents to be delivered
hereunder, including, without limitation, (A) all due diligence, syndication (including printing, distribution and bank meetings),
transportation, computer, duplication, appraisal, consultant, and audit expenses and (B) the reasonable fees and expenses
of counsel

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for the Agent with
respect thereto and with respect to advising the Agent as to its rights and responsibilities under this Agreement. The Borrower
further agrees to pay on demand all costs and expenses of the Agent and the Lenders, if any (including, without limitation, reasonable
fees and expenses of outside counsel and the allocated costs and expenses of in-house counsel), in connection with the enforcement
(whether through negotiations, legal proceedings or otherwise) of this Agreement, the Notes and the other documents to be delivered
hereunder, including, without limitation, reasonable fees and expenses of counsel for the Agent and each Lender in connection with
the enforcement of rights under this Section 9.04(a).

(b)       The
Borrower agrees to indemnify and hold harmless the Agent and each Lender and each of their Affiliates and their officers, directors,
employees, agents and advisors (each, an “Indemnified Party”) from and against any and all claims, damages,
losses, liabilities and expenses (including, without limitation, reasonable fees and expenses of counsel) incurred by or asserted
or awarded against any Indemnified Party, in each case arising out of or in connection with or by reason of (including, without
limitation, in connection with any investigation, litigation or proceeding or preparation of a defense in connection therewith)
(i) the Notes, this Agreement, any of the transactions contemplated herein or the actual or proposed use of the proceeds of
the Advances or (ii) the actual or alleged presence of hazardous materials on any property of the Guarantor or any of its
Subsidiaries or any Environmental Action relating in any way to the Guarantor or any of its Subsidiaries, except to the extent
such claim, damage, loss, liability or expense is found in a final, non-appealable judgment by a court of competent jurisdiction
to have resulted from such Indemnified Party’s gross negligence or willful misconduct. In the case of an investigation, litigation
or other proceeding to which the indemnity in this Section 9.04(b) applies, such indemnity shall be effective whether or not such
investigation, litigation or proceeding is brought by any Loan Party, its directors, equityholders or creditors or an Indemnified
Party or any other Person, whether or not any Indemnified Party is otherwise a party thereto and whether or not the transactions
contemplated hereby are consummated. The Loan Parties also agree not to assert any claim for special, indirect, consequential or
punitive damages against the Agent, any Lender, any of their Affiliates, or any of their respective directors, officers, employees,
attorneys and agents, on any theory of liability, arising out of or otherwise relating to the Notes, this Agreement, any of the
transactions contemplated herein or the actual or proposed use of the proceeds of the Advances. Notwithstanding anything to the
contrary, this Section 9.04(b) shall not apply with respect to any Taxes other than Taxes that represent losses, claims, damages,
etc. arising from any non-tax claim.

(c)       If
any payment of principal of, or Conversion of, any Eurodollar Rate Advance is made by the Borrower to or for the account of a Lender
(i) other than on the last day of the Interest Period for such Advance, as a result of a payment or Conversion pursuant to Section 2.08,
2.10 or 2.12, acceleration of the maturity of the Notes pursuant to Section 6.01 or for any other reason, or by an Eligible
Assignee to a Lender other than on the last day of the Interest Period for such Advance upon an assignment of rights and obligations
under this Agreement pursuant to Section 9.07 as a result of a demand by the Guarantor pursuant to Section 2.20 or (ii)
as a result of a payment or Conversion pursuant to Section 2.08, 2.10 or 2.12, the Borrower of such Advance shall, upon demand
by such Lender (with a copy of such demand to the Agent), pay to the Agent for the account of such Lender any amounts required
to compensate such Lender for any additional losses, costs or expenses that it may reasonably incur as a result of such payment
or Conversion, including, without limitation, any loss (including loss of anticipated profits), cost or expense incurred by reason
of the liquidation or reemployment of deposits or other funds acquired by any Lender to fund or maintain such Advance.

(d)       Without
prejudice to the survival of any other agreement of the Borrower hereunder, the agreements and obligations of the Borrower contained
in Sections 2.11, 2.14 and 9.04 shall survive the payment in full of principal, interest and all other amounts payable hereunder
and under the Notes and the termination of this Agreement.

(e)       Each
Lender severally agrees to indemnify the Agent (to the extent not promptly reimbursed by the Borrower or the Guarantor) from and
against such Lender’s ratable share of any and all losses, claims, damages, liabilities, obligations, penalties, actions,
judgments, suits, costs, disbursements and expenses, joint or several, of any kind or nature (including the fees, charges and disbursements
of any advisor or counsel for such Person that may be imposed on, incurred by, or asserted against the Agent, in its capacity as
such, in any way relating to or arising out of this Agreement or any action taken or omitted by the Agent hereunder; provided,
however, that no Lender shall be liable for any portion of such losses, claims, damages, liabilities, obligations, penalties, actions,
judgments, suits, costs, disbursements or expenses resulting from the Agent’s gross negligence or willful misconduct

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as found in a final,
non-appealable judgment by a court of competent jurisdiction. Without limitation of the foregoing, each Lender agrees to reimburse
the Agent for its ratable share of any costs and expenses (including, without limitation, fees and expenses of counsel) payable
by the Borrower under Section 9.04(a), to the extent that the Agent is not promptly reimbursed for such costs and expenses by the
Borrower or the Guarantor.

SECTION 9.05. Right
of Set-off. Upon either (a) the occurrence and during the continuance of any Event of Default under Section 6.01(a) or 6.01(e)
or (b) (i) the occurrence and during the continuance of any other Event of Default and (ii) the making of the request or the granting
of the consent specified by Section 6.01 to authorize the Agent to declare the Advances due and payable pursuant to the provisions
of Section 6.01, each Lender and each of its Affiliates is hereby authorized at any time and from time to time, to the fullest
extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at
any time held and other indebtedness at any time owing by such Lender or such Affiliate to or for the credit or the account of
any Loan Party against any and all of the obligations of such Loan Party now or hereafter existing under this Agreement and any
Advance held by such Lender, whether or not such Lender shall have made any demand under this Agreement or such Advance and although
such obligations may be unmatured. Each Lender agrees promptly to notify the Agent and the applicable Loan Party after any such
set-off and application, provided that the failure to give such notice shall not affect the validity of such set-off and application.
The rights of each Lender and its Affiliates under this Section 9.05 are in addition to other rights and remedies (including, without
limitation, other rights of set-off) that such Lender and its Affiliates may have.

SECTION 9.06. Binding
Effect. This Agreement shall become effective (other than Section 2.01, which shall only become effective upon satisfaction
of the conditions precedent set forth in Section 3.01) when it shall have been executed by each Loan Party and the Agent and
when the Agent shall have been notified by each Initial Lender that such Initial Lender has executed it and thereafter shall be
binding upon and inure to the benefit of the Loan Parties, the Agent and each Lender and their respective successors and assigns
and each Indemnified Party, except that no Loan Party shall have the right to assign its rights hereunder or any interest herein
without the prior written consent of each of the Lenders.

SECTION 9.07. Assignments
and Participations. (a) Successors and Assigns Generally. No Lender may assign or otherwise transfer any of its rights
or obligations hereunder except (i) to an assignee in accordance with the provisions of paragraph (b) of this Section 9.07, (ii)
by way of participation in accordance with the provisions of paragraph (d) of this Section 9.07, or (iii) by way of pledge or assignment
of a security interest subject to the restrictions of paragraph (f) of this Section 9.07 (and any other attempted assignment or
transfer by any party hereto shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer
upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants to the extent
provided in paragraph (d) of this Section 9.07 and, to the extent expressly contemplated hereby, the Related Parties of each of
the Agent and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement.

(b)       Assignments
by Lenders. Any Lender may at any time assign to one or more assignees all or a portion of its rights and obligations under
this Agreement (including all or a portion of its Commitment and the Advances at the time owing to it); provided that any such
assignment shall be subject to the following conditions:

(i)       Minimum
Amounts.

(A) in the case
of an assignment of the entire remaining amount of the assigning Lender’s Commitment and/or the Advances at the time owing
to it or contemporaneous assignments to related Approved Funds that equal at least the amount specified in paragraph (b)(i)(B)
of this Section 9.07 in the aggregate or in the case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund,
no minimum amount need be assigned; and

(B) in any case
not described in paragraph (b)(i)(A) of this Section 9.07, the aggregate amount of the Commitment (which for this purpose includes
Advances outstanding) or, if the applicable Commitment is not then in effect, the principal outstanding balance of the Advances
of the assigning Lender subject to each such assignment (determined as of the date the Assignment and Assumption with respect to
such assignment is delivered to the Agent or, if “Trade Date” is specified

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in the Assignment and Assumption,
as of the Trade Date) shall not be less than $10,000,000 or an integral multiple of $1,000,000 in excess thereof, unless each of
the Agent and, so long as no Event of Default has occurred and is continuing, the Guarantor otherwise consents (each such consent
not to be unreasonably withheld, delayed or conditioned).

(ii)       Proportionate
Amounts. Each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender’s
rights and obligations under this Agreement with respect to the Advance or the Commitment assigned.

(iii)       Required
Consents. No consent shall be required for any assignment except to the extent required by paragraph (b)(i)(B) of this Section
9.07 and, in addition:

(A) the consent
of the Guarantor (such consent not to be unreasonably withheld, delayed or conditioned) shall be required unless (x) an Event of
Default has occurred and is continuing at the time of such assignment, or (y) such assignment is to an Affiliate of a Lender or
an Approved Fund; provided that the Guarantor shall be deemed to have consented to any such assignment unless it shall object
thereto by written notice to the Agent within ten Business Days after having received notice thereof and provided, further,
that the Guarantor’s consent shall not be required during the primary syndication of the Commitments; and

(B) the consent
of the Agent (such consent not to be unreasonably withheld, delayed or conditioned) shall be required if such assignment is to
a Person that is not a Lender, an Affiliate of such Lender or an Approved Fund.

(iv)       Assignment
and Assumption. The parties to each assignment shall execute and deliver to the Agent an Assignment and Assumption, together
with a processing and recordation fee of $3,500; provided that the Agent may, in its sole discretion, elect to waive such processing
and recordation fee in the case of any assignment. The assignee, if it is not a Lender, shall deliver to the Agent an Administrative
Questionnaire.

(v)       No
Assignment to Certain Persons. No such assignment shall be made to (A) the Guarantor or any of the Guarantor’s Affiliates
or Subsidiaries or (B) to any Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder,
would be a Defaulting Lender or a Subsidiary of a Defaulting Lender or (C) any Person that was a Competitor as of the Trade Date
(in which case the provisions of Section 9.07(g) shall apply).

(vi)       No
Assignment to Natural Persons. No such assignment shall be made to a natural Person (or a holding company, investment vehicle
or trust for, or owned and operated for the primary benefit of, a natural Person).

(vii)       Certain
Additional Payments. In connection with any assignment of rights and obligations of any Defaulting Lender hereunder, no such
assignment shall be effective unless and until, in addition to the other conditions thereto set forth herein, the parties to the
assignment shall make such additional payments to the Agent in an aggregate amount sufficient, upon distribution thereof as appropriate
(which may be outright payment, purchases by the assignee of participations, or other compensating actions, including funding,
with the consent of the Guarantor and the Agent, the applicable pro rata share of Advances previously requested but not funded
by the Defaulting Lender, to each of which the applicable assignee and assignor hereby irrevocably consent), to (x) pay and satisfy
in full all payment liabilities then owed by such Defaulting Lender to the Agent and each other Lender hereunder (and interest
accrued thereon), and (y) acquire (and fund as appropriate) its full pro rata share of all Advances in accordance with its Ratable
Share. Notwithstanding the foregoing, in the event that any assignment of rights and obligations of any Defaulting Lender hereunder
shall become effective under applicable law without compliance with the provisions of this clause (vii), then the assignee of such
interest shall be deemed to be a Defaulting Lender for all purposes of this Agreement until such compliance occurs.

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Subject to acceptance
and recording thereof by the Agent pursuant to paragraph (c) of this Section 9.07, from and after the effective date specified
in each Assignment and Assumption, the assignee thereunder shall be a party to this Agreement and, to the extent of the interest
assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning
Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations
under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights and
obligations under this Agreement, such Lender shall cease to be a party hereto) but shall continue to be entitled to the benefits
of Sections 2.11 and 9.04 with respect to facts and circumstances occurring prior to the effective date of such assignment; provided,
that except to the extent otherwise expressly agreed by the affected parties, no assignment by a Defaulting Lender will constitute
a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender. Any assignment
or transfer by a Lender of rights or obligations under this Agreement that does not comply with this Section 9.07(b) shall be treated
for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with paragraph
(d) of this Section 9.07 (except in the event that such assignment or transfer was to a person that was a Competitor as of the
Trade Date (in which case the provisions of Section 9.07(g) shall apply)).

(c)       Register.
The Agent, acting solely for this purpose as an agent of the Borrower, shall maintain at one of its offices in the United States
a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders,
and the Commitments of, and principal amounts of the Advances owing to, each Lender pursuant to the terms hereof from time to time
(the “Register”). The entries in the Register shall be conclusive absent manifest error, and the Loan Parties,
the Agent and the Lenders shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender
hereunder for all purposes of this Agreement. The Register shall be available for inspection by any Loan Party and any Lender,
at any reasonable time and from time to time upon reasonable prior notice. The Register is intended to cause the Notes and other
obligations hereunder to be in registered form within the meaning of Section 5f.103-1(c) of the United States Treasury Regulations
and Proposed Treasury Regulations Section 1.163-5(b) (or any amended or successor version) and within the meaning of Sections 163(f),
871(h)(2) and 881(c)(2) of the Internal Revenue Code.

(d)       Participations.

(i) Any Lender
may at any time, without the consent of, or notice to, the Guarantor or the Agent, sell participations to any Person (other than
the Guarantor or any of the Guarantor’s Affiliates or Subsidiaries, a natural Person, or a holding company, investment vehicle
or trust for, or owned and operated for the primary benefit of, a natural Person, any Defaulting Lender, or, unless the Guarantor’s
prior written consent is obtained and in accordance with the provisions of Section 9.07(g), a Competitor) (each buyer of a Participation,
a “Participant”) in all or a portion of such Lender’s rights and/or obligations under this Agreement (including
all or a portion of its Commitment and/or the Advances owing to it); provided that (A) such Lender’s obligations under this
Agreement shall remain unchanged, (B) such Lender shall remain solely responsible to the other parties hereto for the performance
of such obligations, and (C) the Loan Parties, the Agent and the Lenders shall continue to deal solely and directly with such Lender
in connection with such Lender’s rights and obligations under this Agreement. For the avoidance of doubt, each Lender shall
be responsible for the indemnity under Section 9.04(e) with respect to any payments made by such Lender to its Participant(s).

(ii)       Any
agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole
right to enforce this Agreement and to approve any amendment, waiver or consent of any provision of this Agreement; provided that
such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment,
modification or waiver described in clause (a) of the first proviso of Section 9.01 that directly affects such Participant. The
Borrower agrees that each Participant shall be entitled to the benefits of Section 2.11 and 2.14 to the same extent as if it were
a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section 9.07; provided that such
Participant agrees to be subject to the provisions of Sections 2.20 as if it were an assignee under paragraph (b) of this Section
9.07. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 9.05 as though it were
a Lender; provided that such Participant agrees to be subject to Section 2.15 as though it were a Lender.

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(e)       Limitations
upon Participant Rights. A Participant shall not be entitled to receive any greater payment under Sections 2.11 and 2.14 than
the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the
sale of the participation to such Participant is made with the Guarantor’s prior written consent. A Participant that is organized
under the laws of a jurisdiction outside of the United States shall not be entitled to the benefits of Section 2.14 unless the
Guarantor is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Borrower,
to comply with Section 2.14(e) as though it were a Lender.

(f)       Certain
Pledges. Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement
to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank or any
central bank having jurisdiction over such Lender; provided that no such pledge or assignment shall release such Lender
from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto.

(g)       No
Assignment or Participations to Competitors. No assignment or participation shall be made or sold, as applicable, to any Person
that was a Competitor as of the date (the “Determination Date”) on which the assigning or selling Lender entered
into a binding agreement to sell all or a portion of its rights and obligations under this Agreement to such Person or assign all
or a portion of its rights and obligations under this Agreement to such Person (unless the Guarantor has consented in writing to
such assignment or participation in writing in its sole and absolute discretion, in which case such Person will not be considered
a Competitor for the purpose of such assignment or participation). For the avoidance of doubt, with respect to any assignee or
participant that becomes a Competitor after the applicable Determination Date (including as a result of the delivery of a notice
pursuant to, and/or the expiration of the notice period referred to in, the definition of “Competitor”), (x) such assignee
or participant shall not retroactively be disqualified from becoming a Lender or participant and (y) the execution by the Guarantor
of an Assignment and Assumption with respect to an assignee will not by itself result in such assignee no longer being considered
a Competitor. Any assignment or participation in violation of this Section 9.07(g) shall not be void, but the other provisions
of this Section 9.07(g) shall apply. If any assignment is made or any participation is sold to any Competitor without the Guarantor’s
prior written consent, or if any Person becomes a Competitor after the applicable Determination Date, the Guarantor may, at its
sole expense and effort, upon notice to the applicable Competitor and the Agent, (A) terminate any Commitment of such Competitor
and/or repay all obligations of the Borrower owing to such Competitor in connection with such Commitment and/or (B) require such
Competitor to assign, without recourse (in accordance with and subject to the restrictions contained in this Section 9.07), all
of its interest, rights and obligations under this Agreement (including as a participant) to one or more Eligible Assignees at
the lesser of (x) the principal amount thereof and (y) the amount that such Competitor paid to acquire such interests, rights and
obligations, in each case plus accrued interest, accrued fees and all other amounts (other than principal amounts) payable to it
hereunder; provided that the Guarantor shall not be liable for any costs or expenses associated with terminating the Commitment
of any Lender if the assignment made or participation sold to such Lender was consummated without the Guarantor’s prior written
consent and in violation of this Section 9.07. Notwithstanding anything to the contrary contained in this Agreement, Competitors
(A) will not (x) have the right to receive information, reports or other materials provided to Lenders by the Borrower, the Agent
or any other Lender, (y) attend or participate in meetings attended by the Lenders and the Agent, or (z) access any electronic
site established for the Lenders or confidential communications from counsel to or financial advisors of the Agent or the Lenders
and (B) (x) for purposes of any consent to any amendment, waiver or modification of, or any action under, and for the purpose of
any direction to the Agent or any Lender to undertake any action (or refrain from taking any action) under this Agreement, each
Competitor will be deemed to have consented in the same proportion as the Lenders that are not Competitors consented to such matter,
and (y) for purposes of voting on any plan of reorganization or plan of liquidation pursuant to any debtor relief laws (a “Plan”),
each Competitor party hereto hereby agrees (1) not to vote on such Plan, (2) if such Competitor does vote on such Plan notwithstanding
the restriction in the foregoing sentence, such vote will be deemed not to be in good faith and shall be “designated”
pursuant to Section 1126(e) of the Bankruptcy Code (or any similar provision in any other debtor relief laws), and such vote shall
not be counted in determining whether the applicable class has accepted or rejected such Plan in accordance with Section 1126(c)
of the Bankruptcy Code (or any similar provision in any other debtor relief laws) and (3) not to contest any request by any party
for a determination by the Bankruptcy Court (or other applicable court of competent jurisdiction) effectuating the foregoing sentence.
The Agent shall have the right, and the Guarantor hereby expressly authorizes the Agent, to (A) post the list of Competitors provided
by the Guarantor and any updates thereto from time to time (collectively, the “Competitor List”) on the Platform,
including that portion of the Platform that is designated for “public side” Lenders and/or (B) provide the

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Competitor List to
each Lender requesting the same. The Agent shall not (x) be obligated to ascertain, monitor or inquire as to whether any Lender
or participant is a Competitor or (y) have any liability with respect to any assignment or sale of a participation to a Competitor.

SECTION 9.08. Confidentiality.
(a) Each of the Agent and the Lenders agrees to maintain the confidentiality of the Confidential Information, except that Confidential
Information may be disclosed (a) to its Affiliates and to its and its Affiliates’ respective managers, administrators,
trustees, partners, directors, officers, employees, agents, advisors and other representatives (it being understood that the Persons
to whom such disclosure is made will be informed of the confidential nature of such Confidential Information and instructed to
keep such Confidential Information confidential), (b) to the extent required by applicable laws or regulations, or requested
by any regulatory authority purporting to have jurisdiction over it (including any self-regulatory authority, such as the National
Association of Insurance Commissioners), or by any subpoena or similar legal process, (c) to any other party hereto, (d) in
connection with the exercise of any remedies hereunder or under any Note or any action or proceeding between or among the parties
hereto relating to this Agreement or any Note or the enforcement of rights hereunder or thereunder, (f) subject to an agreement
containing provisions substantially the same as those of this Section 9.08(a), to (i) any assignee of or participant in, or
any prospective assignee of or participant in, any of its rights or obligations under this Agreement, (ii) any actual or prospective
party (or its managers, administrators, trustees, partners, directors, officers, employees, agents, advisors and other representatives)
to any swap, derivative or other transaction under which payments are to be made by reference to a Loan Party and its obligations,
this Agreement or payments hereunder or to any credit insurance provider relating to a Loan Party and its obligations hereunder,
(iii) any rating agency, or (iv) the CUSIP Service Bureau or any similar organization, (g) with the consent of the Guarantor
or (h) to the extent such Confidential Information (x) becomes publicly available other than as a result of a breach
of this Section 9.08(a) or (y) becomes available to the Agent, any Lender or any of their respective Affiliates on a nonconfidential
basis from a source other than a Loan Party. In addition, the Agent and the Lenders may disclose the existence of this Agreement
and information about this Agreement to market data collectors, similar service providers to the lending industry and service providers
to the Agent or any Lender in connection with the administration of this Agreement and the Commitments.

(b)       Any
Person required to maintain the confidentiality of Confidential Information as provided in Section 9.08(a) shall be considered
to have complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality
of such Confidential Information as such Person would accord to its own confidential information.

SECTION 9.09. [Reserved].

SECTION 9.10. Governing
Law. This Agreement and the Notes shall be governed by, and construed in accordance with, the laws of the State of New York.

SECTION 9.11. Execution
in Counterparts. This Agreement 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 Agreement by telecopier shall be effective as delivery
of a manually executed counterpart of this Agreement. The words “execution,” “signed,” “signature,”
and words of like import in this Agreement shall be deemed to include electronic signatures or the keeping of records in electronic
form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of
a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the
Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or
any other similar state laws based on the Uniform Electronic Transactions Act; provided, further, that, without limiting the foregoing,
upon the request of the Agent, any electronic signature shall be promptly followed by such manually executed counterpart.

SECTION 9.12. [Reserved].

SECTION 9.13. Jurisdiction,
Etc. (a) Each of the parties hereto hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive
jurisdiction of any New York State court or federal court of the United States of America sitting in New York City, Borough
of Manhattan, and any appellate court from

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any thereof, in any
action or proceeding arising out of or relating to this Agreement or the Notes, or for recognition or enforcement of any judgment,
and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding
may be heard and determined in any such New York State court or, to the extent permitted by law, in such federal court. The
Loan Parties hereby agree that service of process in any such action or proceeding brought in the any such New York State court
or in such federal court may be made upon the Guarantor at its offices at 1055 Washington Blvd, Stamford, Connecticut 06901, Attention:
Rochelle Tarlowe, with a copy to 437 Madison Avenue, New York, New York 10022 Attention: General Counsel, and the Loan Parties
hereby irrevocably appoint the Guarantor its authorized agent to accept such service of process, and agrees that the failure of
the Guarantor to give any notice of any such service shall not impair or affect the validity of such service or of any judgment
rendered in any action or proceeding based thereon. Each Loan Party hereby further irrevocably consents to the service of process
in any action or proceeding in such courts by the mailing thereof by any parties hereto by registered or certified mail, postage
prepaid, to such Loan Party at its address specified pursuant to Section 9.02. Each of the parties hereto agrees that a final judgment
in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any
other manner provided by law.

(b)       Each
of the parties hereto irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection
that it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement
or the Notes in any New York State or federal court. Each of the parties hereto hereby irrevocably waives, to the fullest
extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court.

SECTION 9.14. [Reserved].
..

SECTION 9.15. [Reserved]

SECTION 9.16. Patriot
Act. Each Lender hereby notifies each Loan Party that pursuant to the requirements of the USA Patriot Act (Title III of Pub.
L. 107-56 (signed into law October 26, 2001)) (the “Patriot Act”), it is required to obtain, verify and record
information that identifies each Loan Party, which information includes the name and address of each Loan Party and other information
that will allow such Lender to identify such Loan Party in accordance with the Patriot Act.

SECTION 9.17. No
Fiduciary Duty. Each Loan Party agrees that in connection with all aspects of the transactions contemplated hereby and any
communications in connection therewith, such Loan Party and its Affiliates, on the one hand, and the Agent, the lead arrangers
and book managers, the syndication agents, the Lenders and their respective Affiliates, on the other hand, will have a business
relationship that does not create, by implication or otherwise, any fiduciary duty on the part of the Agent, the lead arrangers
and book managers, the syndication agents, the Lenders and their respective Affiliates, and no such duty will be deemed to have
arisen in connection with any such transactions or communications.

SECTION 9.18. Acknowledgement
and Consent to Bail-In of Affected Financial Institutions . Notwithstanding anything to the contrary in this Agreement 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 hereunder, to the extent such liability is unsecured, may be subject to the 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 party hereto 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 undertaking, or a bridge institution that may be

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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

(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.

As used in this Agreement,
the following terms shall have the following meanings (such meanings to be equally applicable to both the singular and plural forms
of the terms defined):

“Affected Financial Institution”
means (a) any EEA Financial Institution or (b) any UK Financial Institution.

“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.

“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).

“EEA Financial Institution”
means (a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of
a Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause
(a) of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution
described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its parent.

“EEA Member Country”
means any of the member states of the European Union, Iceland, Liechtenstein, and Norway.

“EEA Resolution Authority”
means any public administrative authority or any Person entrusted with public administrative authority of any EEA Member Country
(including any delegee) having responsibility for the resolution of any EEA Financial Institution.

“EU Bail-In Legislation
Schedule” means the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor Person),
as in effect from time to time.

“Resolution
Authority” means an EEA Resolution Authority or, with respect to any UK Financial Institution, a UK Resolution Authority.

“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.

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“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.

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SECTION 9.19. Waiver of Jury
Trial. Each of the Loan Parties, the Agent and the Lenders hereby irrevocably waives all right to trial by jury in any action,
proceeding or counterclaim (whether based on contract, tort or otherwise) arising out of or relating to this Agreement or the Notes
or the actions of the Agent or any Lender in the negotiation, administration, performance or enforcement thereof.

IN WITNESS WHEREOF,
the parties hereto have caused this Agreement to be executed by their respective officers thereunto duly authorized, as of the
date first above written.

OMNICOM CAPITAL
INC., as Borrower

		By:	 /s/ Rochelle M. Tarlowe	 

		Name: Rochelle M. Tarlowe	

Title: President and Chief Executive Officer

OMNICOM GROUP INC.,
as Guarantor

		By:	 /s/ Philip J. Angelastro	 

		Name: Philip J. Angelastro	

Title: Executive Vice President and Chief Financial Officer

 

CITIBANK, N.A.,
as Agent

		By:	 /s/ Micheal Vondriska	 

		Name: Micheal Vondriska	

Title: Vice President

 

 

 

Omnicom:
364-Day Credit Agreement

    

    

    

CITIBANK, N.A.

 

		By:	  /s/ Micheal Vondriska	 

		Name: Micheal Vondriska	

Title: Vice President

BANK OF AMERICA, N.A.

 

		By:	 /s/ Eric Ridgway	 

		Name: Eric Ridgway	

Title: Director

MIZUHO BANK,
LTD.

		By:	 /s/ Tracy Rahn	 

		Name: Tracy Rahn	

Title: Executive Director

U.S. BANK NATIONAL
ASSOCIATION

		By:	 /s/ Kelsey E. Hehman	 

		Name: Kelsey E. Hehman	

Title: Assistant Vice President

SUMITOMO MITSUI
BANKING CORPORATION

		By:	 /s/ Micheal Maguire	 

		Name: Micheal Maguire	

Title: Managing Director

 

Omnicom:
364-Day Credit Agreement

    

    

    

SCHEDULE I

OMNICOM GROUP

364-DAY CREDIT AGREEMENT

COMMITMENTS OF INITIAL
LENDERS

 

	Name of Initial Lender	Revolving Credit Commitment
	Citibank, N.A.	$90,000,000
	Bank of America, N.A.	$90,000,000
	Mizuho Bank, Ltd.	$90,000,000
	U.S. Bank National Association	$90,000,000
	Sumitomo Mitsui Banking Corporation	$40,000,000
	Total of Commitments:	$400,000,000

 

 

 

 

1

Omnicom:
364-Day Credit Agreement

    

    

    

SCHEDULE 3.01(b)

DISCLOSED LITIGATION

None.

 

 

Omnicom:
364-Day Credit Agreement

    

    

    

SCHEDULES 5.02(a)
AND 5.02(d)

 

	
        EXISTING LIENS AND EXISTING DEBT

         

	 	 	 	 
	Obligations under Finance Leases	Various	 	$138,700,000
	 	 	 	 

 

Lien number 0002484631
against OCI in favor of the State of Connecticut Department of Labor filed on October 23, 2007 in connection with an amount due
and owing of $2,752.88.

 

 

 

 

Omnicom:
364-Day Credit Agreement

    

    

    

EXHIBIT A - FORM OF

PROMISSORY NOTE

U.S.$_______________                                                               Dated: _______________,
20__

FOR VALUE RECEIVED,
the undersigned, OMNICOM CAPITAL INC., a Connecticut corporation, (the “Borrower”), HEREBY PROMISES TO PAY to
_________________________ (the “Lender”) for the account of its Applicable Lending Office on the Termination
Date (each as defined in the Credit Agreement referred to below) the principal sum of U.S.$[amount of the Lender’s Commitment
in figures] or, if less, the aggregate principal amount of the Advances made by the Lender to the Borrower pursuant to the 364-Day
Credit Agreement dated as of __________, 2020 among the Borrower, the Guarantor, the financial institutions party thereto and Citibank,
N.A., as Agent for the Lender and the other financial institutions party thereto (as amended or modified from time to time, the
“Credit Agreement”; the terms defined therein being used herein as therein defined) outstanding on the Termination
Date.

The Borrower promises
to pay interest on the unpaid principal amount of each Advance from the date of such Advance until such principal amount is paid
in full, at such interest rates, and at such times, as are specified in the Credit Agreement.

Both principal and
interest in respect of each Advance are payable in lawful money of the United States of America to the Agent at its account maintained
at 388 Greenwich Street, New York, New York 10013, in same day funds. Each Advance owing to the Lender by the Borrower pursuant
to the Credit Agreement, and all payments made on account of principal thereof, shall be recorded by the Lender and, prior to any
transfer hereof, endorsed on the grid attached hereto which is part of this Promissory Note.

This Promissory Note
shall be governed by, and construed in accordance with, the laws of the State of New York.

This Promissory Note
is one of the Notes referred to in, and is entitled to the benefits of, the Credit Agreement. The Credit Agreement, among other
things, (i) provides for the making of Advances by the Lender to the Borrower from time to time in an aggregate amount not
to exceed at any time outstanding, subject to Section 2.10(b) of the Credit Agreement, 103% of the Dollar amount first above mentioned,
the indebtedness of the Borrower resulting from each such Advance being evidenced by this Promissory Note and (ii) contains
provisions for acceleration of the maturity hereof upon the happening of certain stated events and also for prepayments on account
of principal hereof prior to the maturity hereof upon the terms and conditions therein specified.

 

 

 

Exhibit
A-1

Omnicom:
364-Day Credit Agreement

    

    

    

 

OMNICOM CAPITAL INC.

 

 

		By:	 	 

Title:

 

 

 

Exhibit
A-2

Omnicom:
364-Day Credit Agreement

    

    

    

ADVANCES AND PAYMENTS
OF PRINCIPAL

	
         

        Date
	
         

        Amount of

        Advance
	
        Amount of

        Principal Paid

        or Prepaid
	
         

        Unpaid Principal

        Balance
	
         

        Notation

        Made By

	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

 

 

 

 

Exhibit
A-3

Omnicom:
364-Day Credit Agreement

    

    

    

EXHIBIT B - FORM OF NOTICE OF

BORROWING

Citibank, N.A., as Agent

for the Lenders parties

to the Credit Agreement

referred to below

One Penns Way, Building Ops II, Floor 2

New Castle, Delaware 19720

[Date]

Attention: Bank Loan
Syndications Department

Ladies and Gentlemen:

The undersigned, OMNICOM
CAPITAL INC., (the “Borrower”), refers to the 364-Day Credit Agreement, dated as of __________, 2020 (as amended
or modified from time to time, the “Credit Agreement”, the terms defined therein being used herein as therein
defined), among the Borrower, the Guarantor, the financial institutions party thereto and Citibank, N.A., as Agent for the Lenders,
and hereby gives you notice, irrevocably, pursuant to Section 2.02 of the Credit Agreement that the undersigned hereby requests
a Borrowing under the Credit Agreement, and in that connection sets forth below the information relating to such Borrowing (the
“Proposed Borrowing”) as required by Section 2.02(a) of the Credit Agreement:

(i)       The
Business Day of the Proposed Borrowing is _______________, 20__.

(ii)       The
Type of Advances comprising the Proposed Borrowing is [Base Rate Advances] [Eurodollar Rate Advances].

(iii)       The
aggregate amount of the Proposed Borrowing is $_______________.

[(iv)The
initial Interest Period for each Eurodollar Rate Advance made as part of the Proposed Borrowing is _____ month[s].]

The undersigned hereby
certifies that the following statements are true on the date hereof, and will be true on the date of the Proposed Borrowing:

(A)       the
representations and warranties contained in Section 4.01 of the Credit Agreement (except the representations set forth in
the last sentence of subsection (e) thereof and in subsection (f)(i) thereof)) are correct, before and after giving effect
to the Proposed Borrowing and to the application of the proceeds therefrom, as though made on and as of such date; and

 

 

 

Exhibit
B-1

Omnicom:
364-Day Credit Agreement

    

    

    

(B)       no
event has occurred and is continuing, or would result from such Proposed Borrowing or from the application of the proceeds therefrom,
that constitutes a Default.

Very truly yours,

OMNICOM CAPITAL INC.

 

 

		By:	 	 

Title:

 

 

Exhibit
B-2

Omnicom:
364-Day Credit Agreement

    

    

    

CUSIP Number:___________________

EXHIBIT C - FORM OF

ASSIGNMENT AND ASSUMPTION

Assignment
and Assumption

 

This Assignment and Assumption
(the “Assignment and Assumption”) is dated as of the Effective Date set forth below and is entered into by and
between [the][each]1 Assignor identified in item 1 below ([the][each, an] “Assignor”) and [the][each]2
Assignee identified in item 2 below ([the][each, an] “Assignee”). [It is understood and agreed that the rights
and obligations of [the Assignors][the Assignees]3
hereunder are several and not joint.]4
Capitalized terms used but not defined herein shall have the meanings given to them in the Credit Agreement identified below (as
amended, the “Credit Agreement”), receipt of a copy of which is hereby acknowledged by [the][each] Assignee.
The Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by reference
and made a part of this Assignment and Assumption as if set forth herein in full.

 

For an agreed consideration,
[the][each] Assignor hereby irrevocably sells and assigns to [the Assignee][the respective Assignees], and [the][each] Assignee
hereby irrevocably purchases and assumes from [the Assignor][the respective Assignors], subject to and in accordance with the Standard
Terms and Conditions and the Credit Agreement, as of the Effective Date inserted by the Agent as contemplated below (i) all of
[the Assignor’s][the respective Assignors’] rights and obligations in [its capacity as a Lender][their respective capacities
as Lenders] under the Credit Agreement and any other documents or instruments delivered pursuant thereto to the extent related
to the amount and percentage interest identified below of all of such outstanding rights and obligations of [the Assignor][the
respective Assignors] under the respective facilities identified below (including without limitation any letters of credit, guarantees,
and swingline loans included in such facilities), and (ii) to the extent permitted to be assigned under applicable law, all claims,
suits, causes of action and any other right of [the Assignor (in its capacity as a Lender)][the respective Assignors (in their
respective capacities as Lenders)] against any Person, whether known or unknown, arising under or in connection with the Credit
Agreement, any other documents or instruments delivered pursuant thereto or the loan transactions governed thereby or in any way
based on or related to any of the foregoing, including, but not limited to, contract claims, tort claims, malpractice claims, statutory
claims and all other claims at law or in equity related to the rights and obligations sold and assigned pursuant to clause (i)
above (the rights and obligations sold and assigned by [the][any] Assignor to [the][any] Assignee pursuant to clauses (i) and (ii)
above being referred to herein collectively as [the][an] “Assigned Interest”). Each such sale and assignment
is without recourse to [the][any] Assignor and, except as expressly provided in this Assignment and Assumption, without representation
or warranty by [the][any] Assignor.

 

		1.	Assignor[s]:	_________________________

 

	 	 	 	_________________________

	 	 	[Assignor [is] [is not] a Defaulting Lender]

 

 

		2.	Assignee[s]:	_________________________

 

 

 

		_______________________________	

1 For bracketed language
here and elsewhere in this form relating to the Assignee(s), if the assignment is from a single Assignor, choose the first bracketed
language. If the assignment is from multiple Assignors, choose the second bracketed language.

2 For bracketed language
here and elsewhere in this form relating to the Assignee(s), if the assignment is to a single Assignee, choose the first bracketed
language. If the assignment is to multiple Assignees, choose the second bracketed language.

3 Select as appropriate.

4 Include bracketed
language if there are either multiple Assignors or multiple Assignees.

 

 

Exhibit
C-1

Omnicom:
364-Day Credit Agreement

    

    

    

 

 

______________________________

[for each Assignee, indicate [Affiliate][Approved
Fund] of [identify Lender]]

 

		3.	Borrower(s):	Omnicom Capital Inc.__

 

		4.	Administrative Agent: 	Citibank, N.A., as the administrative agent under the Credit Agreement

 

		5.	Credit Agreement:	The 364-Day Credit Agreement dated as of __________, 2020 among Omnicom Capital
Inc., as Borrower, Omnicom Group Inc., as Guarantor, the financial institutions party thereto and Citibank, N.A, as Agent for the
Lenders

 

		6.	Assigned Interest[s]:

 

	Assignor[s]5	Assignee[s]6	Aggregate
    Amount of Commitment/ Advances for all Lenders8	Amount of Commitment/Advances Assigned8	Percentage
    Assigned of Commitment/

    Advances9	CUSIP Number
	 	 	$	$	%	 
	 	 	$	$	%	 
	 	 	$	$	%	 

 

[7.Trade Date:______________]10

 

[Page break]

 

 

 

 

 

______________

 

5 List each Assignor,
as appropriate.

6 List each Assignee,
as appropriate.

8 Amount to be adjusted
by the counterparties to take into account any payments or prepayments made between the Trade Date and the Effective Date.

9 Set forth, to at
least 9 decimals, as a percentage of the Commitment/Advances of all Lenders thereunder.

10 To be completed
if the Assignor(s) and the Assignee(s) intend that the minimum assignment amount is to be determined as of the Trade Date.

 

 

 

Exhibit
C-2

Omnicom:
364-Day Credit Agreement

    

    

    

 

 

 

Effective Date: _____________ ___, 20___ [TO
BE INSERTED BY AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.]

 

The terms set forth in this Assignment and Assumption are hereby
agreed to:

 

ASSIGNOR[S]11

[NAME OF ASSIGNOR]

 

 

By:______________________________

Title:

 

[NAME OF ASSIGNOR]

 

 

By:______________________________

Title:

 

ASSIGNEE[S]12

[NAME OF ASSIGNEE]

 

 

By:______________________________

Title:

 

 

[NAME OF ASSIGNEE]

 

 

By:______________________________

Title:

 

[Consented to and]13
Accepted:

 

[NAME OF ADMINISTRATIVE AGENT], as

Administrative Agent

 

 

By: _________________________________

Title:

 

[Consented to:]14

 

[NAME OF RELEVANT PARTY]

 

 

By: ________________________________

Title:

 

_______________

11 Add additional signature
blocks as needed. Include both Fund/Pension Plan and manager making the trade (if applicable).

12 Add additional signature
blocks as needed. Include both Fund/Pension Plan and manager making the trade (if applicable).

13 To be added only
if the consent of the Administrative Agent is required by the terms of the Credit Agreement.

14 To be added only
if the consent of the Guarantor and/or other parties is required by the terms of the Credit Agreement.

 

 

 

 

 

Exhibit
C-3

Omnicom:
364-Day Credit Agreement

    

    

    

ANNEX 1

 

 

STANDARD TERMS AND CONDITIONS FOR

ASSIGNMENT AND ASSUMPTION

 

1.       Representations
and Warranties.

 

1.1       Assignor[s].
[The][Each] Assignor (a) represents and warrants that (i) it is the legal and beneficial owner of [the][the relevant] Assigned
Interest, (ii) [the][such] Assigned Interest is free and clear of any lien, encumbrance or other adverse claim, (iii) it has full
power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate
the transactions contemplated hereby and (iv) it is [not] a Defaulting Lender; and (b) assumes no responsibility with respect to
(i) any statements, warranties or representations made in or in connection with the Credit Agreement, (ii) the execution, legality,
validity, enforceability, genuineness, sufficiency or value of the Credit Agreement or any collateral thereunder, (iii) the financial
condition of any Loan Party, any of its Subsidiaries or Affiliates or any other Person obligated in respect of the Credit Agreement,
or (iv) the performance or observance by the Guarantor, any of its Subsidiaries or Affiliates or any other Person of any of their
respective obligations under the Credit Agreement.

 

1.2.       Assignee[s].
[The][Each] Assignee (a) represents and warrants that (i) it has full power and authority, and has taken all action necessary,
to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and to become a Lender
under the Credit Agreement, (ii) it meets all the requirements to be an assignee under Section 9.07(b)(iii), (v) and (vi) of the
Credit Agreement (subject to such consents, if any, as may be required under Section 9.07(b)(iii) of the Credit Agreement), (iii)
from and after the Effective Date, it shall be bound by the provisions of the Credit Agreement as a Lender thereunder and, to the
extent of [the][the relevant] Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it is sophisticated with
respect to decisions to acquire assets of the type represented by the Assigned Interest and either it, or the Person exercising
discretion in making its decision to acquire the Assigned Interest, is experienced in acquiring assets of such type, (v) it has
received a copy of the Credit Agreement, and has received or has been accorded the opportunity to receive copies of the most recent
financial statements delivered pursuant to Section 5.01(h) thereof, as applicable, and such other documents and information as
it deems appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption and to purchase
[the][such] Assigned Interest, (vi) it has, independently and without reliance upon the Administrative Agent or any other Lender
and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into
this Assignment and Assumption and to purchase [the][such] Assigned Interest, and (vii) if it is organized under the laws of a
jurisdiction outside of the United States, attached to the Assignment and Assumption is any documentation required to be delivered
by it pursuant to the terms of the Credit Agreement, duly completed and executed by [the][such] Assignee; and (b) agrees that (i)
it will, independently and without reliance on the Administrative Agent, [the][any] Assignor or any other Lender, and based on
such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or
not taking action under the Credit Agreement, and (ii) it will perform in accordance with their terms all of the obligations which
by the terms of the Credit Agreement are required to be performed by it as a Lender.

 

2.       Payments.
From and after the Effective Date, the Administrative Agent shall make all payments in respect of [the][each] Assigned Interest
(including payments of principal, interest, fees and other amounts) to [the][the relevant] Assignee whether such amounts have accrued
prior to, on or after the Effective Date. The Assignor[s] and the Assignee[s] shall make all appropriate adjustments in payments
by the Administrative Agent for periods prior to the Effective Date or with respect to the making of this assignment directly between
themselves. Notwithstanding the foregoing, the Administrative Agent shall make all payments of interest, fees or other amounts
paid or payable in kind from and after the Effective Date to [the][the relevant] Assignee.

 

3.       General
Provisions. This Assignment and Assumption shall be binding upon, and inure to the benefit of, the parties hereto and their
respective successors and assigns. This Assignment and Assumption may be executed in any number of counterparts, which together
shall constitute one instrument. Delivery of an executed counterpart of a signature page of this Assignment and Assumption by telecopy
shall be as effective as delivery of a manually executed counterpart of this Assignment and Assumption. This Assignment and Assumption
shall be governed by, and construed in accordance with, the laws of the State of New York.

 

 

 

 

 

 

Exhibit
C-4

Omnicom:
364-Day Credit Agreement
 
    

    

    

EXHIBIT D-1

[FORM
OF] 

U.S.
TAX COMPLIANCE CERTIFICATE

(For Foreign Lenders That Are Not Partnerships
For U.S. Federal Income Tax Purposes)

 

Reference
is hereby made to the 364-Day Credit Agreement dated as of __________, 2020 (as amended, supplemented or otherwise modified from
time to time, the “Credit Agreement”), among Omnicom Capital Inc., Omnicom Group Inc., the financial institutions
party thereto and Citibank, N.A., as Agent for the Lenders.

Pursuant
to the provisions of Section 2.14 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record and
beneficial owner of the Advances(s) (as well as any Note(s) evidencing such Advances(s)) in respect of which it is providing this
certificate, (ii) it is not a bank within the meaning of Section 881(c)(3)(A) of the Internal Revenue Code, (iii) it is not a ten
percent shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Internal Revenue Code and (iv) it is not
a controlled foreign corporation related to the Borrower as described in Section 881(c)(3)(C) of the Internal Revenue Code.

The undersigned
has furnished the Administrative Agent and the Borrower with a certificate of its non-U.S. Person status on IRS Form W-8BEN or
IRS Form W-8BEN-E. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate
changes, the undersigned shall promptly so inform the Borrower and the Administrative Agent, and (2) the undersigned shall have
at all times furnished the Borrower and the Administrative Agent with a properly completed and currently effective certificate
in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding
such payments.

Unless otherwise defined herein, terms
defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement.

 

 

 

	[NAME OF LENDER]
	By:                                                           
	 	Name:  
	 	Title:  

Date: ________ __, 20[ ]

 

 

 

Omnicom:
364-Day Credit Agreement

    

    

    

EXHIBIT
D-2

[FORM
OF] 

U.S.
TAX COMPLIANCE CERTIFICATE

(For Foreign Participants That Are Not Partnerships
For U.S. Federal Income Tax Purposes)

 

Reference
is hereby made to the 364-Day Credit Agreement dated as of __________, 2020 (as amended, supplemented or otherwise modified from
time to time, the “Credit Agreement”), among Omnicom Capital Inc., Omnicom Group Inc., the financial institutions
party thereto and Citibank, N.A., as Agent for the Lenders.

Pursuant
to the provisions of Section 2.14 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record and
beneficial owner of the participation in respect of which it is providing this certificate, (ii) it is not a bank within the meaning
of Section 881(c)(3)(A) of the Internal Revenue Code, (iii) it is not a ten percent shareholder of the Borrower within the meaning
of Section 871(h)(3)(B) of the Internal Revenue Code, and (iv) it is not a controlled foreign corporation related to the Borrower
as described in Section 881(c)(3)(C) of the Internal Revenue Code.

The undersigned has furnished its participating
Lender with a certificate of its non-U.S. Person status on IRS Form W-8BEN or IRS Form W-8BEN-E. By executing this certificate,
the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform
such Lender in writing, and (2) the undersigned shall have at all times furnished such Lender with a properly completed and currently
effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two
calendar years preceding such payments.

Unless otherwise defined herein, terms
defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement.

	[NAME OF PARTICIPANT]
	By:                                                                    
	 	Name:  
	 	Title:  

Date: ________ __, 20[ ]

 

 

 

Omnicom:
364-Day Credit Agreement

    

    

    

EXHIBIT
D-3

[FORM
OF] 

U.S.
TAX COMPLIANCE CERTIFICATE

(For Foreign Participants That Are Partnerships
For U.S. Federal Income Tax Purposes)

 

Reference
is hereby made to the 364-Day Credit Agreement dated as of __________, 2020 (as amended, supplemented or otherwise modified from
time to time, the “Credit Agreement”), among Omnicom Capital Inc., Omnicom Group Inc., the financial institutions
party thereto and Citibank, N.A., as Agent for the Lenders.

Pursuant
to the provisions of Section 2.14 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record owner
of the participation in respect of which it is providing this certificate, (ii) its direct or indirect partners/members are the
sole beneficial owners of such participation, (iii) with respect such participation, neither the undersigned nor any of its direct
or indirect partners/members is a bank extending credit pursuant to a loan agreement entered into in the ordinary course of its
trade or business within the meaning of Section 881(c)(3)(A) of the Internal Revenue Code, (iv) none of its direct or indirect
partners/members is a ten percent shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Internal Revenue
Code and (v) none of its direct or indirect partners/members is a controlled foreign corporation related to the Borrower as described
in Section 881(c)(3)(C) of the Internal Revenue Code.

The undersigned has
furnished its participating Lender with IRS Form W-8IMY accompanied by one of the following forms from each of its partners/members
that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or IRS Form W-8BEN-E or (ii) an IRS Form W-8IMY accompanied
by an IRS Form W-8BEN or IRS Form W-8BEN-E from each of such partner’s/member’s beneficial owners that is claiming
the portfolio interest exemption. By executing this certificate, the undersigned agrees that (1) if the information provided on
this certificate changes, the undersigned shall promptly so inform such Lender and (2) the undersigned shall have at all times
furnished such Lender with a properly completed and currently effective certificate in either the calendar year in which each payment
is to be made to the undersigned, or in either of the two calendar years preceding such payments.

Unless otherwise defined herein, terms
defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement.

	[NAME OF PARTICIPANT]
	By:                                                            
	 	Name:  
	 	Title:  

Date: ________ __, 20[ ]

 

 

 

 

 

 

 

 

 

Omnicom:
364-Day Credit Agreement

    

    

    

EXHIBIT
D-4

[FORM
OF] 

U.S.
TAX COMPLIANCE CERTIFICATE

(For Foreign Lenders That Are Partnerships For
U.S. Federal Income Tax Purposes)

 

Reference
is hereby made to the 364-Day Credit Agreement dated as of __________, 2020 (as amended, supplemented or otherwise modified from
time to time, the “Credit Agreement”), among Omnicom Capital Inc., Omnicom Group Inc., the financial institutions
party thereto and Citibank, N.A., as Agent for the Lenders.

Pursuant
to the provisions of Section 2.14 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record owner
of the Advances(s) (as well as any Note(s) evidencing such Advances(s)) in respect of which it is providing this certificate, (ii)
its direct or indirect partners/members are the sole beneficial owners of such Advances(s) (as well as any Note(s) evidencing such
Advances(s)), (iii) with respect to the extension of credit pursuant to the Credit Agreement, neither the undersigned nor any of
its direct or indirect partners/members is a bank extending credit pursuant to a loan agreement entered into in the ordinary course
of its trade or business within the meaning of Section 881(c)(3)(A) of the Internal Revenue Code, (iv) none of its direct or indirect
partners/members is a ten percent shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Internal Revenue
Code and (v) none of its direct or indirect partners/members is a controlled foreign corporation related to the Borrower as described
in Section 881(c)(3)(C) of the Internal Revenue Code.

The
undersigned has furnished the Administrative Agent and the Borrower with IRS Form W-8IMY accompanied by one of the following forms
from each of its partners/members that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or IRS Form W-8BEN-E
or (ii) an IRS Form W-8IMY accompanied by an IRS Form W-8BEN or IRS Form W-8BEN-E from each of such partner’s/member’s
beneficial owners that is claiming the portfolio interest exemption. By executing this certificate, the undersigned agrees that
(1) if the information provided on this certificate changes, the undersigned shall promptly so inform the Borrower and the Administrative
Agent, and (2) the undersigned shall have at all times furnished the Borrower and the Administrative Agent with a properly completed
and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either
of the two calendar years preceding such payments.

Unless otherwise defined herein, terms
defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement.

	 [NAME OF LENDER]
	By:                                                     
	 	Name:  
	 	Title:  

Date: ________ __, 20[ ]

 

 

 

 

Omnicom:
364-Day Credit AgreementExhibit
10.1

 

“FORM
OF”

 

SECURITIES
PURCHASE AGREEMENT

 

This
Securities Purchase Agreement (the “Agreement”) is entered into as of April 3, 2020 (“Effective Date”),
by and between Taronis Technologies, Inc. (the “Company”) and the investor(s) listed on the signature page
attached hereto (the “Buyer”). The Buyer and Company may be collectively referred to herein as the “Parties”
and individually as a “Party.”

 

RECITALS

 

WHEREAS,
the Company and the Buyer desire to enter into this transaction to purchase the Securities (as defined below) pursuant to the
Registration Statement (as defined below), which is currently effective and has been declared effective in accordance with the
Securities Act of 1933, as amended (the “1933 Act”), by the United States Securities and Exchange Commission
(the “SEC”).

 

WHEREAS,
the common stock of Seller is listed for trading on NASDAQ under the stock symbol ‘TRNX’; and

 

WHEREAS,
Seller desires to sell to Buyer, and Buyer wishes to purchase from Seller, Twelve Million Eight Hundred Thousand (12,800,000)
shares of common stock of Seller (“Securities”), subject to the terms and conditions set forth herein.

 

SECTION
1. PURCHASE AND SALE

 

Section
1.01 Purchase and Sale. Subject to the terms and conditions of this Agreement, at Closing, Seller shall sell, grant, assign,
convey, transfer and deliver to Buyer, and Buyer shall purchase and acquire from Seller, the Securities, free and clear of all
“Liens” (as defined below).

 

Section 1.02 Purchase Price. The purchase
price for the Securities shall be One Million Nine Hundred Twenty Thousand United States Dollars ($1,920,000) (“Purchase
Price”). The Securities have been priced at $0.15 per share, which price is above the closing price of
the Company’s common stock as reported by The Nasdaq Capital Market on the Effective Date.

 

Section
1.03 Deliverables. On April 6, 2020 (the “Closing Date”), (i) the Buyer shall acquire the Securities
by paying the Purchase Price to the Company by wire transfer of immediately available funds and (ii) the Company shall deliver
the Securities to the Buyer via The Depository Trust Company Deposit / Withdrawal at Custodian system (“DWAC”).

 

Section
1.04 Closing. On the terms set forth herein, the closing of the transaction (“Closing”) shall take place
by the exchange of electronic communication (i.e., emails/pdf) of a fully executed version of this Agreement and completion of
the Deliverables in Section 1.03.

 

SECTION
2. REPRESENTATIONS AND WARRANTIES

 

Section
2.01 Buyer’s Representations and Warranties. Buyer represents and warrants to the Company with respect to only itself
that, as of the date hereof and the Closing:

 

(a)
Validity; Enforcement. This Agreement has been duly and validly authorized, executed and delivered on behalf of Buyer and
shall constitute the legal, valid and binding obligation of Buyer enforceable against Buyer in accordance with its terms, except
as such enforceability may be limited by general principles of equity or to applicable bankruptcy, insolvency, reorganization,
moratorium, liquidation and other similar laws relating to, or affecting generally, the enforcement of applicable creditors’
rights and remedies.

 

    	 

    	 

    

 

(b)
No Conflicts. The execution, delivery and performance by Buyer of this Agreement and the consummation by Buyer of the transaction
contemplated hereby will not (i) result in a violation of the organizational documents of Buyer or (ii) conflict with any agreement
to which Buyer is a party, or (iii) result in a violation of any law, rule, regulation, order, judgment or decree (including federal
and state securities laws) applicable to Buyer, except in the case of clauses (ii) and (iii) above, for such conflicts, defaults,
rights or violations which could not, individually or in the aggregate, reasonably be expected to have a material adverse effect
on the ability of Buyer to perform its obligations hereunder.

 

Section
2.02 Representations and Warranties of the Company. The Company represents and warrants to Buyer that, as of the date hereof
and the Closing:

 

(a)
Shelf Registration Statement. The Company has prepared and filed in conformity with the requirements of the 1933 Act and
the published rules and regulations thereunder (the “Rules and Regulations”) adopted by the SEC a “shelf”
registration statement on Form S-3 (No. 333-230854), which became effective on April 24, 2019, including a base prospectus (the
“Base Prospectus”) relating to common stock, preferred stock, warrants, rights or units of the Company that
may be sold from time to time by the Company, in accordance with Rule 415 of the 1933 Act, and such amendments, including post-effective
amendments, thereof as may have been required to the date of this Agreement. The term “Registration Statement”
as used in this Agreement means such registration statement, including all exhibits, financial schedules and all documents and
information deemed to be part of the Registration Statement by incorporation by reference or otherwise, as amended from time to
time, including the information (if any) contained in the form of final prospectus filed with the SEC pursuant to Rule 424(b)
of the Rules and Regulations and deemed to be part thereof at the time of effectiveness pursuant to Rules 430A and 430B of the
Rules and Regulations. The term “Preliminary Prospectus” means the Base Prospectus, together with any preliminary
prospectus supplement used or filed with the SEC pursuant to Rule 424 of the Rules and Regulations. The term “Prospectus”
means the Base Prospectus, any Preliminary Prospectus and any amendments or further supplements to such prospectus filed with
the SEC, and including, without limitation, the final prospectus supplement (the “Prospectus Supplement”),
filed pursuant to and within the limits described in Rule 424(b) with the SEC in connection with the proposed sale of the Securities
contemplated by this Agreement through the date of such Prospectus Supplement. Unless otherwise stated herein, any reference herein
to the Registration Statement, any Preliminary Prospectus, the Statutory Prospectus (as defined below) and the Prospectus shall
be deemed to refer to and include the documents incorporated by reference therein, including pursuant to Item 12 of Form S-3 under
the 1933 Act, which were filed under the Securities Exchange Act of 1934, as amended (the “1934 Act”), on or
before the date hereof or are so filed hereafter. Any reference herein to the terms “amend,” “amendment”
or “supplement” with respect to the Registration Statement any Preliminary Prospectus, the Statutory Prospectus or
the Prospectus shall be deemed to refer to and include any such document filed or to be filed under the 1934 Act after the date
of the Registration Statement, any such Preliminary Prospectus, the Statutory Prospectus or Prospectus, as the case may be, and
deemed to be incorporated therein by reference.

 

    	 	2	 

    	 

    

 

(b)
Authorization; Enforcement; Validity. The Company is a corporation, duly authorized and in good standing under the laws
of the State of Delaware has the requisite power and authority to enter into and perform its obligations under this Agreement
and to issue the Securities in accordance with the terms hereof and thereof. The execution and delivery of this Agreement by the
Company, and the consummation by the Company of the transaction contemplated hereby (including, without limitation, the issuance
of the Securities) has been duly authorized by the Company’s board of directors and (other than (x) the filing with the
SEC of the Prospectus Supplement to the Registration Statement, which shall occur on the Closing Date hereof and (y) any other
filings as may be required by any state securities agencies (collectively, the “Required Filings”) no further
filing, consent or authorization is required by the Company, its subsidiaries, their respective boards of directors or their stockholders
or other governing body. This Agreement has been duly executed and delivered by the Company, and constitutes the legal, valid
and binding obligation of the Company, enforceable against the Company in accordance with its terms, except as such enforceability
may be limited by general principles of equity or applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or
similar laws relating to, or affecting generally, the enforcement of applicable creditors’ rights and remedies and except
as rights to indemnification and to contribution may be limited by federal or state securities law.

 

(c)
Issuance of Securities. The issuance of the Securities is duly authorized by the Company and the Securities, when issued,
shall be validly issued, fully paid and non-assessable and free from all preemptive or similar rights, mortgages, defects, claims,
liens, pledges, charges, taxes, rights of first refusal, encumbrances, security interests and other encumbrances (collectively
“Liens”) with respect to the issuance thereof.

 

(d)
No Conflicts. The execution, delivery and performance of this Agreement by the Company and the consummation by the Company
of the transaction contemplated hereby (including, without limitation, the issuance of the Securities and the registration of
the Securities pursuant to the Registration Statement) will not (i) result in a violation of the Company’s Certificate of
Incorporation (including, without limitation, any certificate of designation contained therein), Bylaws, certificate of formation,
memorandum of association, articles of association, or other organizational documents of the Company or any of its subsidiaries,
or any capital stock or other securities of the Company or any of its subsidiaries, (ii) conflict with, or constitute a default
(or an event which with notice or lapse of time or both would become a default) in any respect under, or give to others any rights
of termination, amendment, acceleration or cancellation of, any agreement, indenture or instrument to which the Company or any
of its subsidiaries is a party, or (iii) result in a violation of any law, rule, regulation, order, judgment or decree (including,
without limitation, foreign, federal and state securities laws and regulations applicable to the Company or any of its subsidiaries
or by which any property or asset of the Company or any of its subsidiaries is bound or affected, which violation, conflict, breach
or default, individually or in the aggregate, would have a material adverse effect on the Company.

 

    	 	3	 

    	 

    

 

SECTION
3. COVENANTS

 

Section
3.01 From and after the Closing:

 

(a)
the Company shall issue irrevocable instructions its transfer agent, and to any subsequent transfer agent (as applicable, “Transfer
Agent”) in a form acceptable to Buyer (“Irrevocable Transfer Agent Instructions”) to issue certificates
or credit shares to the applicable balance accounts at DTC, registered in the name of Buyer or its respective nominees, assigns
or successors for/of the Securities;

 

(b)
the Company represents and warrants that no instruction other than the Irrevocable Transfer Agent Instructions referred to in
this Section 3.01 will be given by the Company to its Transfer Agent with respect to the Securities, and that the Securities shall
otherwise be freely transferable on the books and records of the Company, as applicable, to the extent provided in this Agreement;
and

 

(c)
if Buyer effects a sale, nomination, assignment or transfer of the Securities, the Company shall permit the transfer and shall
promptly instruct the Transfer Agent to issue one or more certificates or credit shares to the applicable balance accounts at
DTC in such name and in such denominations as specified by Buyer to effect such sale, transfer or assignment.

 

(d)
Certificates and any other instruments evidencing the Securities shall not bear any restrictive or other legend.

 

(e)
While any Securities are outstanding, the Company shall maintain a transfer agent that participates in the at The Depository Trust
Company Fast Automated Securities Transfer Program (“FAST”).

 

    	 	4	 

    	 

    

 

SECTION
4. MISCELLANEOUS

 

Section
4.01 Governing Law; Jurisdiction; Jury Trial. All questions concerning the construction, validity, enforcement and interpretation
of this Agreement shall be governed by the internal laws of the State of Arizona, without giving effect to any choice of law or
conflict of law provision or rule (whether of the State of Arizona or any other jurisdictions) that would cause the application
of the laws of any jurisdictions other than the State of Arizona. The Company hereby irrevocably submits to the exclusive jurisdiction
of the state and federal courts sitting in Phoenix, Arizona, for the adjudication of any dispute hereunder or in connection herewith
or with any transaction contemplated hereby, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding,
any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is brought
in an inconvenient forum or that the venue of such suit, action or proceeding is improper. Each Party hereby irrevocably waives
personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof
to such Party at the address for such notices to it under this Agreement and agrees that such service shall constitute good and
sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve
process in any manner permitted by law. Nothing contained herein shall be deemed or operate to preclude Buyer from bringing suit
or taking other legal action against the Company in any other jurisdiction to collect on the Company’s obligations to Buyer
or to enforce a judgment or other court ruling in favor of Buyer. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE
TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING OUT
OF THIS AGREEMENT, OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

Section
4.02 Counterparts. This Agreement may be executed in two or more identical counterparts, all of which shall be considered
one and the same agreement and shall become effective when counterparts have been signed by each Party and delivered to the other
Party. In the event that any signature is delivered by facsimile transmission or by an e-mail which contains a portable document
format (.pdf) file of an executed signature page, such signature page shall create a valid and binding obligation of the Party
executing (or on whose behalf such signature is executed) with the same force and effect as if such signature page were an original
thereof.

 

Section
4.03 Headings; Gender. The headings of this Agreement are for convenience of reference and shall not form part of, or affect
the interpretation of, this Agreement. Unless the context clearly indicates otherwise, each pronoun herein shall be deemed to
include the masculine, feminine, neuter, singular and plural forms thereof. The terms “including,” “includes,”
“include” and words of like import shall be construed broadly as if followed by the words “without limitation.”
The terms “herein,” “hereunder,” “hereof” and words of like import refer to this entire Agreement
instead of just the provision in which they are found.

 

Section
4.04 Severability. If any provision of this Agreement is prohibited by law or otherwise determined to be invalid or unenforceable
by a court of competent jurisdiction, the provision that would otherwise be prohibited, invalid or unenforceable shall be deemed
amended to apply to the broadest extent that it would be valid and enforceable, and the invalidity or unenforceability of such
provision shall not affect the validity of the remaining provisions of this Agreement so long as this Agreement as so modified
continues to express, without material change, the original intentions of the Parties as to the subject matter hereof and the
prohibited nature, invalidity or unenforceability of the provision(s) in question does not substantially impair the respective
expectations or reciprocal obligations of the Parties or the practical realization of the benefits that would otherwise be conferred
upon the Parties. The Parties will endeavor in good faith negotiations to replace the prohibited, invalid or unenforceable provision(s)
with a valid provision(s), the effect of which comes as close as possible to that of the prohibited, invalid or unenforceable
provision(s).

 

    	 	5	 

    	 

    

 

Section
4.05 Entire Agreement; Amendments. This Agreement supersedes all other prior oral or written agreements between the Company
and Buyer and contains the entire understanding of the Parties solely with respect to the matters covered herein. For clarification
purposes, the Recitals are part of this Agreement. No provision of this Agreement may be amended or waived other than by an instrument
in writing signed by the Company and Buyer.

 

Section
4.06 Notices. Any notices, consents, waivers or other communications required or permitted to be given under the terms
of this Agreement must be in writing and will be deemed to have been given and delivered: (i) upon receipt, when delivered personally;
(ii) upon receipt, when sent by facsimile (provided confirmation of transmission is mechanically or electronically generated and
kept on file by the sending Party) or electronic mail; or (iii) one (1) Business Day after deposit with an overnight courier service
with next day delivery specified, in each case, properly addressed to the Party to receive the same. As used herein “Business
Day” means any day other than a Saturday, Sunday or other day on which commercial banks in New York, New York are authorized
or required by law to remain closed. The addresses, facsimile numbers and e-mail addresses for such communications shall be:

 

If
to Taronis:

 

Taronis
Technologies, Inc.

24980
N. 83rd Avenue, Ste. 100

Peoria,
AZ 85383

Telephone:
(866) 370-3835

Attention:
Legal Department

E-Mail:
notices@taronistech.com

 

If
to the Transfer Agent:

 

EQ

3200
Cherry Creek Drive South, #430

Denver,
CO 80209

Telephone:
(303) 282-4800

Facsimile:
(303) 282-5800

Attention:
Karen Naughton

E-Mail:
knaughton@corporatestock.com

 

If
to a Buyer, to its address, facsimile number and e-mail address set forth on the signature page hereto.

 

or
to such other address, e-mail address and/or facsimile number and/or to the attention of such other person as the recipient Party
has specified by written notice given to each other Party five (5) days prior to the effectiveness of such change. Written confirmation
of receipt (A) given by the recipient of such notice, consent, waiver or other communication, (B) mechanically or electronically
generated by the sender’s facsimile machine or e-mail containing the time, date, recipient facsimile number and, with respect
to each facsimile transmission, an image of the first page of such transmission or (C) provided by an overnight courier service
shall be rebuttable evidence of personal service, receipt by facsimile or receipt from an overnight courier service in accordance
with clause (i), (ii) or (iii) above, respectively.

 

    	 	6	 

    	 

    

 

Section
4.07 Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the Parties and their respective
nominees, assigns, and successors including any purchasers of any of the Securities. The Company shall not assign this Agreement
or any rights or obligations hereunder without the prior written consent of Buyer. Buyer may assign some or all of its rights
hereunder in connection with any transfer of any of its Securities without the consent of the Company.

 

Section
4.08 No Third-Party Beneficiaries. This Agreement is intended for the benefit of the Parties hereto and their respective
permitted nominees, assigns and successors, and is not for the benefit of, nor may any provision hereof be enforced by, any other
person or entity.

 

Section
4.09 Survival. The representations, warranties, agreements and covenants contained herein shall survive the Closing. The
Company and Buyer shall be respectively responsible only for its own representations, warranties, agreements and covenants hereunder.

 

Section
4.10 Further Assurances. Each Party shall do and perform, or cause to be done and performed, all such further acts and
things, and shall execute and deliver all such other agreements, certificates, instruments and documents, as any other Party may
reasonably request in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the
transaction contemplated hereby.

 

Section
4.11 Construction. The language used in this Agreement will be deemed to be the language chosen by the Parties to express
their mutual intent, and no rules of strict construction will be applied against any Party. No specific representation or warranty
shall limit the generality or applicability of a more general representation or warranty. Each and every reference to Securities,
common stock share price, and any other numbers in this Agreement that relate to the Securities or common stock shall be automatically
adjusted for any stock splits, stock dividends, stock combinations, recapitalizations or other similar transactions that occur
with respect to the common stock from the Parties’ signing of this Agreement through Closing.

 

Section
4.12 Remedies. Buyer, and in the event of nomination, assignment or succession by/of Buyer of its rights and obligations
hereunder, each holder of Securities, shall have all rights and remedies set forth in this Agreement and all of the rights which
such holders have under the law. Any person having any rights under any provision of this Agreement shall be entitled to enforce
such rights specifically (without posting a bond or other security), to recover damages by reason of any breach of any provision
of this Agreement and to exercise all other rights granted by law. Furthermore, the Company recognizes that in the event that
it fails to perform, observe, or discharge any or all of its obligations under this Agreement, any remedy at law would inadequate
relief to Buyer. The Company therefore agrees that Buyer shall be entitled to specific performance and/or temporary, preliminary
and permanent injunctive or other equitable relief from any court of competent jurisdiction in any such case without the necessity
of proving actual damages and without posting a bond or other security. The remedies provided in this Agreement shall be cumulative
and in addition to all other remedies available under this Agreement, at law or in equity (including a decree of specific performance
and/or other injunctive relief).

 

[SIGNATURE
PAGE FOLLOWS]

 

    	 	7	 

    	 

    

 

IN
WITNESS WHEREOF, Taronis and Buyer have caused their respective signature page to this Agreement to be duly executed as of
the date first written above.

 

	 	TARONIS
    TECHNOLOGIES, INC.
	 	 	 
	 	By:
    	                    
	 	Name:	 
	 	Title:	 

 

    	 	8	 

    	 

    

 

IN
WITNESS WHEREOF, Taronis and Buyer have caused their respective signature page to this Agreement to be duly executed as of
the date first written above.

 

	 	BUYER:
	 	 	 
	 	By:
    	   
	 	Name:	 
	 	Title:	 
	 	 	 
	Contact
    Information:	 	 
	 	 	 
	[ADDRESS]	 	 
	 	 	 
	Phone:	 	 
	Facsimile:	 	 
	Email:

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