Document:

EX-10.2

 Exhibit 10.2 

EXECUTION VERSION 
  

 
  

AMENDED AND RESTATED GUARANTY 
 by

 SEACOR MARINE HOLDINGS INC. 

in favor of 
 DNB BANK ASA, NEW
YORK BRANCH, 
 as Security Trustee 
  

 
  

June 15, 2022 

 AMENDED AND RESTATED GUARANTY 

This AMENDED AND RESTATED GUARANTY (this “Guaranty”), dated as of June 15, 2022, is made by SEACOR MARINE HOLDINGS INC.,
a corporation incorporated and existing under the laws of the State of Delaware (the “Parent Guarantor”), in favor of DNB BANK ASA, New York Branch, a corporation organized under the laws of the Kingdom of Norway
(“DNB”), as security trustee (the “Security Trustee”) for the Creditors under the Credit Agreement referred to in Recital (A) below. 

WITNESSETH THAT: 
 WHEREAS: 

(A)    Pursuant to the credit agreement dated as of September 26, 2018 (as the same may be further amended,
supplemented or otherwise modified from time to time, including by the Amendment (as defined below) with the consent of the Parent Guarantor, the “Credit Agreement”) made by and among, inter alios, (i) SEACOR Marine
Foreign Holdings Inc. (the “Borrower”), a corporation incorporated and existing under the laws of the Republic of the Marshall Islands, as borrower, (ii) DNB, as facility agent (the “Facility Agent”) and
security trustee and (iii) the financial institutions identified on Schedule 1 thereto (together with any bank or financial institution which becomes a lender pursuant to Section 10 of the Credit Agreement), as lenders (the
“Lenders”), the Lenders have provided to the Borrower a senior secured term loan facility in the aggregate amount of One Hundred Thirty Million United States Dollars ($130,000,000) (the “Loan”). 

(B)    As a condition to the execution of the Credit Agreement, the Parent Guarantor entered into that certain guaranty
dated as of September 28, 2018 (as amended, supplemented or otherwise modified from time to time, including by that certain Amendment No. 1 to Credit Agreement and Parent Guaranty dated August 6, 2019 and that certain Amendment
No. 3 to Credit Agreement and Parent Guaranty dated June 29, 2020, the “Original Guaranty”) made by the Parent Guarantor in favor of DNB. 

(C)    The parties to the Credit Agreement wish to further amend the Credit Agreement by entering into that certain
Amendment No. 4 (the “Amendment”), in order to, among other things, amend the Margin and certain financial ratios and covenant restrictions contained in the Original Guaranty; 

(D)    It is a condition precedent to the effectiveness of the Amendment that the parties to the Credit Agreement amend
and restate the Original Guaranty by entering into this Guaranty and otherwise agree to be bound by the terms of this Guaranty. 
 NOW,
THEREFORE, in consideration of the premises and for other good and valuable consideration, the receipt and adequacy of which the Parent Guarantor hereby acknowledges, the Parent Guarantor hereby agrees as follows: 

1.    DEFINITIONS 

1.1    Specific Definitions. In this Guaranty, unless the context otherwise requires: 

“Cash Equivalents” means any of the following: (i) marketable securities (a) issued or directly and unconditionally
guaranteed as to interest and principal by the United States Government or (b) issued by any agency of the United States the obligations of which are backed by the full faith and credit of the United States, in each case maturing within one
(1) year after such date; (ii) marketable direct obligations issued by any state of the United States or any political subdivision of any such state or any public instrumentality thereof, in each case maturing within one (1) year
after such date 

 
and having, at the time of the acquisition thereof, a rating of at least A-1 from S&P or at least P-1 from
Moody’s; (iii) commercial paper maturing no more than three (3) months from the date of creation thereof and having, at the time of the acquisition thereof, a rating of at least A-1 from S&P
or at least P-1 from Moody’s; (iv) certificates of deposit or bankers’ acceptances maturing within three (3) months after such date and issued or accepted by any Lender or by any commercial
bank organized under the laws of the United States or any state thereof or the District of Columbia that (a) is at least “adequately capitalized” (as defined in the regulations of its primary federal banking regulator) and
(b) has Tier 1 capital (as defined in such regulations) of not less than $1,000,000,000; and (v) shares of any money market mutual fund that (a) has substantially all of its assets invested continuously in the types of investments
referred to in clauses (i) and (ii) above, (b) has net assets of not less than $5,000,000,000, and (c) has the highest rating obtainable from either S&P or Moody’s; 

“Cash and Cash Equivalents” means, on any date of determination, the sum of (a) cash and (b) Cash Equivalents, in
each case that are held by the Parent Guarantor and its Subsidiaries on a consolidated basis free and clear of all Liens (other than Liens pursuant to the Transaction Documents and any statutory Liens in favor of a bank (including rights of set-off) incurred in the ordinary course of business on deposit accounts maintained with such bank and cash and Cash Equivalents in such accounts; provided however, for the Borrower’s second,
third and fourth quarter of fiscal year 2022, the definition of “Cash and Cash Equivalents” shall also include an amount equal to thirty-five percent (35%) of the accounts receivable reported in the Borrower’s financial statements
contained in each Form 10-Q filed with the SEC for such fiscal quarters. 
 “Consolidated
Book Equity” means the consolidated book equity of the Parent Guarantor, calculated in accordance with GAAP and reflected on the balance sheet of the Parent Guarantor; 

“Consolidated EBITDA” means, for any accounting period, the consolidated net income of the Parent Guarantor and its
Subsidiaries on a consolidated basis for that accounting period: 
  

	 	(a)	 plus, to the extent reducing consolidated net income, the sum, without duplication, of:

  

	 	(i)	 provisions for all federal, state, local and foreign income taxes and any tax distributions;

  

	 	(ii)	 Consolidated Net Interest Expense; 

 

	 	(iii)	 Any net after tax extraordinary, nonrecurring or unusual loss, expense or charge (less all fees and expenses
relating thereto) including without limitation any severance, relocation, office or facility closure or other restructuring charge or restructuring expense, in an aggregate amount not to exceed $8,000,000 while the Loan is outstanding; and

  

	 	(iv)	 depreciation, depletion, amortization of intangibles and other non-cash
charges or non-cash losses (including non-cash transaction expenses and the amortization of debt discounts) and any extraordinary losses; 

 

	 	(b)	 minus, to the extent added in computing the consolidated net income of the Parent Guarantor for that
accounting period, any non-cash income or non-cash gains (excluding any such non cash gain to the extent it represents the reversal of an accrual or reserve for
potential cash item in any prior period); 

  
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 “Consolidated Net Interest Expense” means the aggregate of all interest
payments in respect of outstanding Indebtedness thereof that are due from the Parent Guarantor and its Subsidiaries on a consolidated basis during the relevant accounting period, determined on a consolidated basis in accordance with GAAP and as
shown in the consolidated statements of income for the Parent Guarantor; 
 “Financial Covenants” means the covenants set
forth in Section 4(a)(xiv), Section 4(a)(xv) and Section 4(a)(xvi) of this Guaranty. 
 “Gross Interest Bearing
Debt” means, on any date of determination, the total amount of Indebtedness of the Parent Guarantor and its Subsidiaries on a consolidated basis outstanding on such date minus the aggregate amount of Indebtedness under all Warehouse
Financing Facilities and the DPA Obligations. 
 “Lease Obligations” means the amount of all lease or charter obligations
calculated in accordance with GAAP and reflected on the balance sheet of any Credit Party; 
 “Total Capital” means the sum
of the liabilities (other than Indebtedness under all Warehouse Financing Facilities and the DPA Obligations) and shareholders’ equity of the Parent Guarantor and its Subsidiaries on a consolidated basis, in each case determined in accordance
with GAAP; and 
 “Total Debt” means, for any accounting period, the sum of the following for the Parent Guarantor and its
Subsidiaries determined (without duplication) on a consolidated basis for such period and in accordance with GAAP consistently applied: (i) Gross Interest Bearing Debt and (ii) Lease Obligations. 

“Unconsolidated JV Investments” means the amount of “investments, at equity, and advances to 50% or less owned
companies” reflected on the consolidated balance sheet of the Parent Guarantor excluding any increase to such amount after June 30, 2018 in respect of any profits of such companies. 

1.2    Defined Expressions. Unless otherwise defined herein, terms defined in the Credit Agreement shall have the
same meanings when used herein, including in the preamble and recitals hereof. 
  

	 	2.	 GUARANTY 

  

	 	(a)	 The Parent Guarantor hereby unconditionally and irrevocably: 

(i)    guarantees to the Security Trustee for the account of the Creditors, as a primary obligor and not
merely as a surety, punctual payment and performance by the Borrower and each other Credit Party of all their respective payment and performance obligations under the Transaction Documents; 

(ii)    undertakes with the Security Trustee on behalf of the Creditors that whenever the Borrower or any
other Credit Party does not pay any amount (whether for principal, interest, fees, expenses or otherwise) when due (whether at stated maturity, by acceleration or otherwise) under or in connection with any Transaction Document, the Parent Guarantor
shall immediately on demand pay that amount as if it were the primary obligor; and 

  
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 (iii)    agrees with the Security Trustee on behalf of
the Creditors that if any obligation guaranteed by it is or becomes unenforceable, invalid or illegal, it will, as an independent and primary obligation, indemnify that Creditor immediately on demand against any cost, loss or liability it incurs as
a result of the Borrower or any other Credit Party not paying any amount which would, but for such unenforceability, invalidity or illegality, have been payable by it under any Transaction Document on the date when it would have been due. The amount
payable by such Parent Guarantor under this indemnity will not exceed the amount it would have had to pay under this Guaranty if the amount claimed had been recoverable on the basis of a guarantee (all obligations referred to in clauses
(i) through (iii) above are herein referred to as the “Obligations”). 
 (b)    This Guaranty is a
guaranty of payment and not of collection and the Parent Guarantor expressly agrees that it shall not be necessary or required that any of the Creditors exercise any right, assert any claim or demand or enforce any remedy whatsoever against the
Borrower or any of the other Credit Parties or any other Person before or as a condition to the obligations of the Parent Guarantor hereunder. This Guaranty is a primary obligation of the Parent Guarantor and shall be an absolute, unconditional,
present, and continuing obligation and shall not be subject to any counterclaim, setoff, deduction, diminution, abatement, recoupment, suspension, deferment, reduction, or defense based on any claim the Parent Guarantor or any other person may have
against the Borrower, any of the Credit Parties or any other person, and shall not be released, discharged or affected by any circumstance whatsoever, including without limitation: (a) the unenforceability, invalidity, irregularity or lack of
genuineness of the Credit Agreement, the Note, any other Transaction Document or any of the obligations under the Credit Agreement, the Note and the other Transaction Documents; (b) any amendment, modification, termination, or removal of, or
addition or supplement to, the Credit Agreement, the Note or any other Transaction Document, or any change in time, manner, or place of payment or performance of any Obligation; (c) any assignment, mortgage, release, exchange, addition, or
transfer of any Collateral; (d) any failure, refusal, omission or delay on the part of the Borrower, any of the Credit Parties or any other Person to conform or comply with any term of the Credit Agreement, the Note or any other Transaction
Document or any other agreement; (e) any waiver, consent, extension, indulgence, surrender, settlement, subordination, release, compromise, or other agreement, or the exercise or non-exercise of any right
or remedy thereunder, with or without consideration; (f) the occurrence and/or continuance of any bankruptcy, insolvency, reorganization, liquidation, arrangement, adjustment of debt, relief of debtors, dissolution, or similar proceeding with
respect to the Borrower, any of the Credit Parties, or any other Person, including without limitation any modification of the Borrower’s obligations under the Credit Agreement, the Note or any other Transaction Document in connection with any
such proceeding; (g) any defect in the title, condition, compliance with specifications, design, operation, or fitness for use of, or any damage to or loss of, or governmental prohibition or restriction, condemnation, requisition, or seizure
of, any Collateral for any reason; (h) any merger, consolidation, restructuring, termination of existence, sale of assets, or change in the ownership of any membership interests or shares of capital stock of either of the Borrower or the Parent
Guarantor; (i) any present or future law, regulation, or order in any jurisdiction (whether of right or in fact) or any agency thereof affecting any term of any Obligation or any rights of any of the Creditors with respect thereto, including,
without limitation, any law, regulation or order purporting to vary the terms of payment or to restrict the right or power of the Borrower or of the Parent Guarantor to make payment of its Obligations to the Creditors; or (j) any other
circumstances whatsoever which might otherwise constitute a defense available to, or a discharge of, the Borrower or the Parent Guarantor. 
  

	 	3.	 REPRESENTATIONS AND WARRANTIES 

(a)    The Parent Guarantor hereby makes all of the representations and warranties expressly applicable to the Parent
Guarantor set forth in Section 2 of the Credit Agreement as if they were set forth in this Guaranty. 

  
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	 	4.	 COVENANTS 

(a)    The Parent Guarantor hereby covenants and undertakes with the Security Trustee on behalf of the Creditors that from
the date hereof and so long as any principal, interest or other monies are owing by the Credit Parties under or in connection with the Credit Agreement, the Note, the other Transaction Documents, or any of them, it will: 

(i)    duly perform and observe the terms of this Guaranty; 

(ii)    obtain every consent and do all other acts and things which may from time to time be necessary or
advisable for the continued due performance of all its obligations under this Guaranty and, if this Guaranty shall, in the reasonable opinion of the Creditors, at any time be deemed by the Creditors for any reason insufficient in whole or in part to
carry out the purposes of this Guaranty hereof, it will execute or cause to be executed such other and further assurances and documents as in the reasonable opinion of the Creditors may be required in order to accomplish the purposes of this
Guaranty; 
 (iii)    promptly upon any Responsible Officer of the Parent Guarantor obtaining actual
knowledge thereof, inform the Facility Agent of the occurrence of (a) any Default or Event of Default, (b) any litigation, arbitration or governmental proceeding pending or threatened in writing against it not previously disclosed to the
Lenders or any development in respect of a previously disclosed litigation, arbitration or governmental proceeding, which if adversely determined could reasonably be expected to have a Material Adverse Effect, including but not limited to, in
respect of any Environmental Claim or any judgment entered against it and (c) any other event or condition which is reasonably likely to have a Material Adverse Effect; 

(iv)    deliver to the Facility Agent: 

(1)    as soon as available but not later than one hundred twenty (120) days after the end of each fiscal year of
the Parent Guarantor ending after the Closing Date, complete copies of the consolidated financial reports of the Parent Guarantor (together with a calculation of Cash and Cash Equivalents and a Compliance Certificate), all in reasonable detail,
which shall include at least the consolidated balance sheet of the Parent Guarantor as of the end of such year and the related consolidated statements of income and sources and uses of funds for such year, which shall be audited reports prepared by
an Acceptable Accounting Firm; 
 (2)    as soon as available but not later than sixty (60) days after the end of
each of the first three full quarters of each fiscal year of the Parent Guarantor ending after the Closing Date, a quarterly interim consolidated balance sheet of the Parent Guarantor (together with a Compliance Certificate), and the related
consolidated profit and loss statements and sources and uses of funds, all in reasonable detail, unaudited, but accompanied by the certification of the chief executive officer, chief financial officer or controller of the Parent Guarantor that such
financial statements fairly present the financial condition of Parent Guarantor as at the dates indicated, subject to changes resulting from audit and normal year-end adjustments; 

(3)    as soon as they become available, but in any event prior to each fiscal year beginning after the Closing Date, the
consolidated budget including the annual cash flow projections of the Parent Guarantor; 

  
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 (4)    such other information and data with respect to Parent Guarantor
or any of its Subsidiaries as from time to time may be reasonably requested by the Facility Agent or any Lender; and 

(5)    on a quarterly basis, together with the delivery of each Compliance Certificate, (A) the aggregate amount
outstanding of all payments, contributions and loans made by the Parent Guarantor and its Subsidiaries that are Credit Parties to or on behalf of any DPA SPV pursuant to the DPA Parent Guarantees or otherwise, (B) the DPA SPV EBITDA,
(C) the ratio of the DPA SPV EBITDA to the debt service obligations of the DPA SPVs, and (D) beginning with the fiscal quarter during which the relevant DPA and DPA Parent Guarantee are executed, the unaudited accounts for each such DPA
SPV; 
 provided that any delivery requirement under this Section 4(a)(iv) shall be deemed satisfied by the posting of such information,
materials or reports as applicable on EDGAR or any successor website maintained by the SEC; 

(v)    except as otherwise permitted by the Credit Agreement or hereunder, do or cause to be done all
things necessary to preserve and keep its separate identity and existence under the laws of its jurisdiction of incorporation and all licenses, franchises, permits and assets necessary to the conduct of its business; 

(vi)    at all times keep proper books of record and account into which full and correct entries shall be
made in accordance with GAAP; 
 (vii)    pay and discharge all taxes, assessments and governmental
charges or levies imposed upon its income or property prior to the date upon which penalties attach thereto; provided, however, that it shall not be required to pay and discharge, or cause to be paid and discharged, any such tax, assessment, charge
or levy so long as the legality thereof shall be contested in good faith and by appropriate proceedings or other acts and it shall set aside on its books adequate reserves with respect thereto; 

(viii)    allow, upon ten (10) Banking Days’ notice from the Facility Agent, any representative
or representatives designated by the Facility Agent, subject to applicable laws and regulations, at normal business hours, to visit and inspect any of its properties, and, on request and subject to customary confidentiality arrangements, to examine
its books of account, records, reports, agreements and other papers and to discuss its affairs, finances and accounts with its officers; provided that (i) the Facility Agent shall only be allowed to conduct one such inspection per calendar year
prior to the occurrence of an Event of Default and an unlimited amount of inspections during the continuance of an Event of Default; and (ii), the foregoing inspections by the Facility Agent shall not unreasonably interfere with the conduct of the
Parent Guarantor’s or any of its Subsidiary’s business (unless, with respect to Transaction Parties only, an Event of Default has occurred and is continuing); 

(ix)    except where failure to comply would not alone or in the aggregate result in a Material Adverse
Effect, do or cause to be done, all things necessary to materially comply with all contracts or agreements to which it is a party, and all laws, and the rules and regulations thereunder, applicable to it, including, without limitation, those laws,
rules and regulations relating to employee benefit plans and environmental matters; 

  
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 (x)    promptly upon the occurrence of any of the
following conditions, provide to the Facility Agent notice thereof, specifying in reasonable detail the nature of such condition: (a) its receipt of any written communication that alleges that it is not in compliance with any applicable
Environmental Law or Environmental Approval, if such failure to comply would reasonably be expected to have a Material Adverse Effect, (b) any Environmental Claim pending or threatened against it, which would reasonably be expected to have a
Material Adverse Effect, or (c) any release, emission, discharge or disposal of any Material of Environmental Concern that would reasonably be expect to form the basis of any Environmental Claim against it, if such Environmental Claim could
reasonably be expected to have a Material Adverse Effect. Upon the written request by the Facility Agent, it will submit to the Facility Agent at reasonable intervals, a report providing an update of the status of any issue or claim identified in
any notice or certificate required pursuant to this subsection 4(a)(x); 
 (xi)    forthwith upon
learning of the existence or occurrence of any ERISA Funding Event, ERISA Termination Event, Foreign Termination Event or Foreign Underfunding that, when taken together with all other ERISA Funding Events, ERISA Termination Events, Foreign
Termination Events and Foreign Underfundings that exist or have occurred, or which could reasonably be expected to exist or occur, could reasonably be expected to result in a liability to the Parent Guarantor in the aggregate in excess of
$5,000,000, furnish or cause to be furnished to the Facility Agent written notice thereof; 

(xii)    provide all documentation reasonably requested by Lenders in connection with their know your
customer requirements; 
 (xiii)    remain, and instruct each Subsidiary of the Parent Guarantor who is a
Security Party, any Vessel Manager who is a Transaction Party and any Related Party thereof to remain, in compliance with applicable Sanctions Laws and Anti-Money Laundering Laws; 

(xiv)    at all times maintain a minimum balance of Cash and Cash Equivalents equal to the greater of
(i) Thirty Five Million Dollars ($35,000,000) and (ii) 7.5% of Total Debt; 
 (xv)    maintain as of
the last day of each fiscal quarter of each fiscal year of the Parent Guarantor a ratio of (x) Gross Interest Bearing Debt to (y) Total Capital not exceeding 60%; and 

(xvi)    maintain as of the last day of each fiscal quarter described below a ratio of
(x) Consolidated EBITDA to (y) Consolidated Net Interest Expense of not less than: 
 (1)    1.50:1.00 for
each four consecutive fiscal quarters ending on or before December 31, 2022; and 
 (2)    2.00:1.00 for each four
consecutive fiscal quarters of the Parent Guarantor thereafter; 
 provided, that notwithstanding the foregoing, if on any date on which the ratio
under Section 4(a)(xvi) is to be tested, Consolidated EBITDA is less than, but at least 20% of, the amount necessary for the Parent Guarantor to be in compliance with the required ratio level applicable for such date, the
Parent Guarantor may (A) cause to be contributed an amount of Cash and Cash Equivalents (which shall be through the sale or issuance of equity of the Parent Guarantor or any other capital contribution to the Parent Guarantor) or
(B) designate an existing amount of Cash and Cash Equivalents in excess of the Cash and Cash Equivalents that the Parent Guarantor is required to maintain under Section 4(a)(xiv) (the “Cure Amount”
and, such contribution or designation, the “Cure Right”) as an increase to Consolidated EBITDA for such testing period and for calculating Consolidated EBITDA in each subsequent testing period which includes the

  
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fiscal quarter for which the Cure Right is exercised; provided, further, that (i) the Parent Guarantor shall have provided notice to the Facility Agent that it is exercising
the Cure Right, (ii) such amounts are contributed or designated, as the case may be, on or prior to the fifteenth (15th) Banking Day after each such testing date (it being understood and agreed that until such date, neither the Facility Agent
nor any Lender shall be permitted to exercise any rights on account of any actual or prospective breach of this Section 4(a)(xvi) and that such breach shall be deemed cured immediately upon the contribution or designation
of the Cure Amount), (iii) in each period of four (4) consecutive fiscal quarters, there shall be at least two (2) fiscal quarters in which no Cure Right is exercised and (iv) the Cure Right shall not be exercised in more than four
(4) fiscal quarters over the term of this Guaranty. 
 (b)    The Parent Guarantor hereby covenants and undertakes
with the Security Trustee on behalf of the Creditors that, from the date hereof and so long as any principal, interest or other monies are owing by any of the Credit Parties under or in connection with the Credit Agreement, the Note, the other
Transaction Documents or any of them, it will not, without the prior written consent of the Security Trustee on behalf of the Creditors other than as expressly permitted by the terms of the Credit Agreement and the other Security Documents: 

(i)    create, assume or permit to exist, or permit any of its Subsidiaries to create, assume or permit to
exist, any Lien (other than Permitted Liens) upon any property or assets of such Subsidiary that are subject to a Lien pursuant to the Security Documents; 

(ii)    make any new Investment in any Person which is not a Subsidiary of the Parent Guarantor and which
is not consolidated on the balance sheet of the Parent Guarantor if, before or after giving effect to such Investment: 

(1)    there shall have occurred an Event of Default described in sub-sections
(a) and (j) of Section 8.1 of the Credit Agreement that is continuing, 
 (2)    the Parent Guarantor shall
not be in compliance with the Financial Covenants, or 
 (3)    the aggregate amount of Unconsolidated JV Investments
shall exceed 30% of the Consolidated Book Equity of the Parent Guarantor; 
 (iii)    ensure that the
aggregate amount of all Lease Obligations incurred by the Parent Guarantor and its Subsidiaries shall not exceed $75,000,000; 

(iv)    enter into any transaction with an Affiliate, other than on an arms-length basis other than
transactions for its benefit; provided, that the foregoing restriction shall not apply to (i) any transaction between or among the Parent Guarantor and any other Credit Party; (ii) reasonable and customary fees paid to members of
the board of directors (or similar governing body) of the Parent Guarantor and its Subsidiaries; (iii) compensation arrangements for officers and other employees of the Parent Guarantor and its Subsidiaries entered into in the ordinary course
of business; (iv) transactions expressly permitted by the Credit Agreement, including but not limited to the extension of Intercompany Debt pursuant to Section 9.2(n)(ii) thereof and (v) other affiliate transactions existing on the
Closing Date and set forth on Schedule 6 of the Credit Agreement; 
 (v)    materially change the nature
of its business or commence any business materially different from its current business; 

  
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 (vi)    change its name or principal place of business
unless the Facility Agent shall have received five (5) Banking Days’ prior written notice of such change; 

(vii)    make any Restricted Payment unless both before and after giving effect thereto, (1) there
shall not have occurred an Event of Default that is continuing and (2) the Parent Guarantor and its Subsidiaries are in compliance with the Financial Covenants; provided, , that in the event a Cure Amount is contributed or designated in
connection with the Parent Guarantor’s exercise of the Cure Right, no dividends or distributions may be made by the Parent Guarantor unless and until the Financial Covenants are satisfied without giving effect to such Cure Amount; 

(viii)    consolidate with, or merge into, any corporation or other entity, or merge any corporation or
other entity into it or enter into any demerger, amalgamation, consolidation or corporate reconstruction or restructuring; 

(ix)    change its fiscal year (other than as may be required to conform to GAAP); 

(x)    sell, assign, transfer, pledge or otherwise convey or dispose of any of its shares of or interest in
any of the other Credit Parties or allow any Security Party to do the same; 
 (xi)    create, incur,
issue, or otherwise become directly or indirectly liable for, or permit any of its Subsidiaries to incur issue, or otherwise become directly or indirectly liable for, any Indebtedness, other than the following: 

(1)    Permitted Indebtedness; 

(2)    in the case of any Subsidiary of the Parent Guarantor that is not a Credit Party, any Indebtedness existing on the
date hereof that is non-recourse to the Parent Guarantor; 

(3)    Indebtedness of any Subsidiary of the Parent Guarantor that is not a Credit Party (other than Indebtedness
extended to such Subsidiary by the Parent Guarantor or any Subsidiary of the Parent Guarantor), so long as the aggregate amount of all such Indebtedness shall not exceed 30% of the Consolidated Book Equity of the Parent Guarantor (excluding for this
purpose (v) all Lease Obligations of such Subsidiary, (w) any Indebtedness described in Section 4(b)(xi)(2) (x) normal trade credits in the ordinary course of business, (y) the DPA Obligations and
(z) any guarantee obligations incurred by Falcon Global Robert LLC in respect of the Convertible Bond;  

(4)    in the case of the Parent Guarantor, additional Indebtedness, so long as (1) both before and after giving
effect thereto (x) no Event of Default described in sub-sections (a) and (j) of Section 8.1 of the Credit Agreement shall have occurred and be continuing and (y) the Parent Guarantor shall
be in compliance with the Financial Covenants and (2) the final maturity date for such Indebtedness is more than 91 days after the Final Payment Date; provided, that the foregoing restriction shall not apply to Indebtedness incurred in
the ordinary course of business, including Indebtedness in respect of or arising from (i) non-speculative interest rate hedges and foreign exchange transactions, (ii) letters of credit or similar
instruments, or (iii) contracts entered into with respect to the chartering of vessels or the acquisition of equipment (other than any vessel), and 

(5)    Indebtedness of the Parent Guarantor pursuant to each DPA, each DPA Parent Guarantee, the SEACOSCO SPA DPA, and
the SEACOSCO SPA DPA Parent Guarantee, including but not limited to the DPA Obligations, and any such Indebtedness of the Subsidiaries of the Parent Guarantor to the extent party thereto. 

  
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 (xii)    (1) engage in a trade or financial transaction
or other dealing with any individual, entity or Sanctioned Country that would violate Sanctions Laws; or (2) use any proceeds from the Loan, directly or, to its knowledge, indirectly, (A) to fund any trade or business involving any Blocked
Person (except to the extent licensed or approved by OFAC or other applicable Governmental Authority), or (B) for the purpose of engaging in any activities that would result in a violation of Sanctions Laws or Anti-Money Laundering Laws by any
Credit Party; 
 (xiii)    allow any Change of Control to occur under paragraphs (b), (c) or (d) of
the defined term “Change of Control”; 
 (xiv)    create, assume or permit to exist, any Lien
on any of the Equity Interests of the Borrower without the consent of the Lenders; and 

(xv)    materially amend, or allow any Subsidiary to materially amend, in a manner detrimental to the
Lenders, any document evidencing DPA Obligations, including but not limited to any amendment to the maturity and principal amount outstanding. 
  

	 	5.	 PAYMENTS 

5.1    Payment. (a) All payments by the Parent Guarantor under this Guaranty shall be made in the same manner
as the Borrower is required to make payments under the Credit Agreement as specifically set forth therein. 
 (a)    On
all sum or sums for which the Parent Guarantor is liable hereunder interest shall be due at the Default Rate specified in Section 6 in the Credit Agreement from the due date thereof under the Credit Agreement until the date of payment of such
amount by the Parent Guarantor. 
 5.2    Taxes; Withholdings. Should the Parent Guarantor be compelled by law,
regulation, decree, order or stipulation to make any deduction or withholding on account of any present or future taxes (including, without limitation, property, sales, use, consumption, franchise, capital, occupational, license, value added,
excise, stamp, levies and imposts taxes and customs and other duties), assessments, fees (including, without limitation, documentation, license, filing and registration fees), deductions, withholdings and charges, of any kind or nature whatsoever,
together with any penalties, fines, additions to tax or interest thereon, however imposed, withheld, levied, or assessed by any country or governmental subdivision thereof or therein, any international authority or any other taxing authority
(“Taxes”) from any payment due under this Guaranty for the account of the Creditors, the sum due from the Parent Guarantor in respect of such payment shall be increased by such additional amounts necessary to ensure that, after the making
of such deduction or withholding with respect to Taxes, each of the Creditors receives a net sum equal to the sum which it would have received had no such deduction or withholding with respect to Taxes been made and the Parent Guarantor shall
indemnify each of the Creditors against any losses or costs incurred by it by reason of any failure of the Parent Guarantor to make any such deduction or withholding or by reason of any such additional payment not being made to the relevant Creditor
on the due date for such payment. The Parent Guarantor will deliver to the relevant Creditor evidence satisfactory to such Creditor including all relevant tax receipts that such Tax has been duly remitted to the appropriate authority.
Notwithstanding the preceding sentence, the Parent Guarantor shall not be required to pay additional amounts or otherwise indemnify any Creditor for or on account of: 

(i)    Taxes based on or measured by the overall net income of any Creditor or Taxes in the nature of
franchise taxes or taxes for the privilege of doing business imposed by any jurisdiction or any political subdivision or taxing authority therein unless such are imposed as a result of the activities of the Credit Parties within the relevant taxing
jurisdiction; or 

  
 10 

 (ii)    Taxes imposed by any jurisdiction or any
political subdivision or taxing authority therein on such Creditor that would not have been imposed but for such Creditor’s being organized in or conducting business in or maintaining a place of business in the relevant taxing jurisdiction, or
engaging in activities or transactions in the relevant taxing jurisdiction that are unrelated to the transactions contemplated by the Credit Agreement, but only to the extent such Taxes are not imposed as a result of the activities of the Credit
Parties within the relevant taxing jurisdiction or the legal status of the Credit Parties under the laws of the taxing jurisdiction. 

5.3    Delivery of Tax Forms. Section 7.4 of the Credit Agreement (Delivery of Tax Forms) is
incorporated herein by reference with necessary changes to substitute the Parent Guarantor for the Borrower. 

5.4    FATCA Information; FATCA Withholding. Sections 7.5 and 7.6 of the Credit Agreement (FATCA
Information) and (FATCA Withholding), respectively, are incorporated herein by reference with necessary changes to substitute the Parent Guarantor for the Borrower. 

 

	 	6.	 PRESERVATION OF RIGHTS 

(a)    The Parent Guarantor hereby consents that from time to time, without notice to or further consent of the Parent
Guarantor, the time for the performance and/or observance by the Credit Parties, or any of them, of any of the agreements, covenants or conditions in the Credit Agreement, the Note or the other Transaction Document, or any of them, on the part of
the Credit Parties, or any of them, to be performed and/or observed may be waived or the time of performance thereof extended by any of the Creditors and payment of any sums owing or payable under any such document may be extended or any such
document may be renewed in whole or in part or modified in any respect or any collateral or arrangement provided for by any such document as security for any obligation contemplated by any such document may be exchanged, surrendered, released or
otherwise dealt with as the Creditors may determine, that the time for the making of any payment of any obligation hereby guaranteed may be accelerated in accordance with any agreement between any of the Creditors and the Credit Parties, or any of
them, and that any of the acts mentioned in any of said documents may be done and that any document or security therefor may be released in whole or in part without affecting the obligations of the Parent Guarantor hereunder. 

(b)    The Parent Guarantor hereby waives, to the extent permitted by applicable law: (i) any notice required by law
or otherwise to preserve any rights hereunder or under the Credit Agreement, the Notes or any other Transaction Document against the Parent Guarantor or against the Credit Parties, or any of them, including without limitation: (A) acceptance,
presentment, demand, protest, or proof of nonperformance of any Obligation, (B) notice of the sale of any Collateral or the transfer the Credit Parties, or any of them, of any interest in any Collateral or the Credit Agreement, the Notes or any
other Transaction Document, (C) notice of the acceptance of this Guaranty and of any change in any of the Credit Parties’ financial condition, (D) notices of the creation, renewal, extension, or accrual of any Obligation or any of the
matters referred to in Section 2 hereof, or any notice of or proof of reliance by any of the Creditors upon this Guaranty or acceptance of this Guaranty (the Obligations, and any of them, shall conclusively be deemed to have been created,
contracted, incurred or renewed, extended, amended or waived in reliance upon this Guaranty and all dealings between the Credit Parties or the Parent Guarantor and the Creditors shall be conclusively presumed to have been had or consummated in
reliance upon this Guaranty), and (E) notices which may be required by statute, rule of law or otherwise, now or hereafter in effect, to preserve intact any rights of any of the Creditors against the Parent Guarantor; (ii) the prior
exercise of any remedy contained in the Credit Agreement, the Notes or any other Transaction Document or otherwise available to the Creditors; (iii) any requirement of diligence on the part of any Person including without limitation diligence
in making any claim or commencing suit hereon or on the Credit Agreement, the Notes or any 

  
 11 

 
other Transaction Document, and any requirement to mitigate damages or exhaust remedies under the Credit Agreement, the Notes or any other Transaction Document; (iv) the right to interpose
all substantive and procedural defense of the law of guaranty, indemnification, suretyship, or other applicable law except the defense of prior payment or prior performance by any of the Credit Parties or the Parent Guarantor of the Obligations;
(v) all rights and remedies accorded by applicable laws to guarantors or sureties, including any extension of time conferred by any law now or hereafter in effect; (vi) any right or claim of right to cause a marshaling of any of the Credit
Parties’ assets or to cause any of the Creditors to proceed against any of the Credit Parties or any collateral held by any of the Creditors at any time or in any particular order; (vii) rights to the enforcement, assertion, or exercise by
any of the Creditors of any right, power, privilege, or remedy conferred herein or in the Credit Agreement, the Notes or any other Transaction Document or otherwise; (viii) notices of the sale, transfer or other disposition of any right, title
to, or interest in the Credit Agreement, the Notes or any other Transaction Document; and (ix) any other right whatsoever which might otherwise constitute a discharge, release, or defense of the Parent Guarantor hereunder or of any of the
Credit Parties under the Credit Agreement, the Notes or any other Transaction Document or which might otherwise limit recourse against the other Credit Parties. No failure to exercise and no delay in exercising, on the part of any of the Creditors,
any right, power, or privilege shall operate as a waiver thereof, nor shall any single or partial exercise of any right, power, or privilege preclude any other or further exercise thereof, or the exercise of any other power or right. The obligations
of the Parent Guarantor hereunder shall not be affected by receipt by any of the Creditors of any proceeds of any security at any time held by any of the Creditors. The rights and remedies herein provided are cumulative and not exclusive of any
rights or remedies provided by law. 
 (c)    The Parent Guarantor agrees that so long as any of the Credit Parties
remains under any actual or contingent liability under the Credit Agreement, the Notes and the other Transaction Documents any rights which the Parent Guarantor may at any time have by reason of the performance by the Parent Guarantor of its
obligations hereunder (a) to be indemnified by any of the Credit Parties and/or (b) to claim any contribution from the Borrower or any other guarantor of the Borrower’s obligations under the Credit Agreement, the Notes or the other
Transaction Documents and/or (c) to take the benefit (in whole or in part) of any security taken pursuant to this Guaranty or the Credit Agreement, the Notes or any other Transaction Documents by, all or any of the persons to whom the benefit
of the Parent Guarantor’s obligations are given, shall be exercised by the Parent Guarantor in such manner and upon such terms as the Creditors may require and further agrees to hold any monies at any time received by it as a result of the
exercise of any such rights or otherwise for and on behalf of and to the order of the Creditors for application in or towards payment of any sums at any time owed by the Credit Parties under the Credit Agreement, the Notes or the other Transaction
Documents. 
 (d)    The Parent Guarantor further agrees that its liabilities hereunder shall be unconditional
irrespective of any other circumstance which might otherwise constitute a discharge at law or in equity of a guarantor or surety. The Parent Guarantor further guarantees that all payments made by the Borrower, the Parent Guarantor, the other Credit
Parties or any of them, to any of the Creditors on any obligation hereby guaranteed will, when made, be final and agrees that, if any such payment is recovered from, or repaid by, any of the Creditors in whole or in part in any bankruptcy,
insolvency or similar proceeding instituted by or against the Borrower, the Parent Guarantor, the other Credit Parties, or any of them, this Guaranty shall continue to be fully applicable to such obligation to the same extent as though the payment
so recovered or repaid had never been originally made on such obligation. 
 (e)    The Creditors may enforce the
obligations of the Parent Guarantor hereunder without in any way first pursuing or exhausting any other rights or remedies which the Creditors may have against any of the other Credit Parties, or against any other person, firm or corporation, or
against any security any of the Creditors may hold. 

  
 12 

 (f)    The Parent Guarantor hereby irrevocably waives all rights of
subrogation (whether contractual, under Section 509 of Title 11 of the United States Code entitled “Bankruptcy” as now or hereafter in effect, or any successor thereto (herein called the “Bankruptcy Code”), under common
law, or otherwise) to the claims of any of the Creditors against the Credit Parties, or any of them, and all contractual, statutory or common law rights of contribution, reimbursement, indemnification and similar rights and “claims” (as
such term is defined in the Bankruptcy Code) against the Credit Parties, or any of them, which arise in connection with, or as a result of, this Guaranty, until such time as the obligations of the Credit Parties under or in connection with the
Credit Agreement, the Notes and the other Transaction Documents have been indefeasibly paid in full. 
 (g)    The
Parent Guarantor shall not assign, transfer, hypothecate or dispose of any claim that it has or may have against the Credit Parties, or any of them, while any indebtedness of the Credit Parties to any of the Creditors remains unpaid, without the
written consent of the Creditors. 
 (h)    Any delay in or failure to exercise any right or remedy of any of the
Creditors shall not be deemed a waiver of any obligation of the Parent Guarantor or right of any of the Creditors. This Guaranty may be modified, and the Creditors’ rights hereunder waived, only by an agreement in writing signed by the
Creditors. 
 (i)    Notice of acceptance by the Creditors of this Guaranty and of the incurring of any or all of the
obligations hereby guaranteed is hereby waived by the Parent Guarantor, and this Guaranty and all of the terms and provisions hereof shall immediately be binding upon the Parent Guarantor from the date of execution hereof. 

 

	 	7.	 BENEFIT OF GUARANTY; ASSIGNMENT 

This Guaranty shall inure to the benefit of the Creditors, their successors and assigns, and shall bind the successors and assigns of the
Parent Guarantor. 
  

	 	8.	 WAIVER OF JURY TRIAL; GOVERNING LAW; JURISDICTION 

EACH OF THE PARENT GUARANTOR AND, BY ITS ACCEPTANCE HEREOF, THE SECURITY TRUSTEE AND EACH OF THE OTHER CREDITORS, HEREBY WAIVES TRIAL BY
JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM BROUGHT BY ANY PARTY HERETO OR BENEFICIARY HEREOF ON ANY MATTER WHATSOEVER ARISING OUT OF OR IN ANY WAY CONNECTED WITH THIS GUARANTY. 

TO THE EXTENT THAT THE PARENT GUARANTOR HAS OR HEREAFTER MAY ACQUIRE ANY IMMUNITY FROM SUIT, JURISDICTION OF ANY COURT OR ANY LEGAL PROCESS
(WHETHER THROUGH ATTACHMENT PRIOR TO JUDGMENT, ATTACHMENT IN AID OF EXECUTION, EXECUTION OF A JUDGMENT, OR FROM ANY OTHER LEGAL PROCESS OR REMEDY) WITH RESPECT TO ITSELF OR ITS PROPERTY, THE PARENT GUARANTOR HEREBY IRREVOCABLY WAIVES SUCH IMMUNITY
IN RESPECT OF ITS OBLIGATIONS UNDER THIS GUARANTY. 
 THIS GUARANTY AND ALL RIGHTS, OBLIGATIONS AND LIABILITIES ARISING HEREUNDER
SHALL BE CONSTRUED ACCORDING TO THE LAWS OF THE STATE OF NEW YORK. 
 Unless the context otherwise requires, all terms used herein which
are defined in the New York Uniform Commercial Code shall have the meanings therein stated. 

  
 13 

 Any legal action or proceeding against the Parent Guarantor with respect to this Guaranty or
the obligations guaranteed hereby may be brought in the courts of the State of New York, United States of America, the United States Federal Courts in such State, or in the courts of any other appropriate jurisdiction, as the Creditors may elect,
and the Parent Guarantor hereby irrevocably submits to the jurisdiction of such courts for the purpose of any such action or proceeding. The Parent Guarantor hereby agrees that service of process in any such action or proceeding brought in New York
may be made upon it by serving a copy of the summons and other legal process in any such action or proceeding on the Parent Guarantor by mailing or delivering the same by hand to the Parent Guarantor at the address indicated for notices in
Section 9 hereof. The service, as herein provided, of such summons or other legal process in any such action or proceeding shall be deemed personal service and accepted by the Parent Guarantor as such, and shall be legal and binding by the
Parent Guarantor for all the purposes of any such action or proceeding. In the event that the Parent Guarantor shall not be conveniently available for such service, the Parent Guarantor hereby irrevocably appoints Farkouh, Furman & Faccio,
LLP, 460 Park Avenue, New York, NY 10022, Attention: Fred Farkouh as its agent for service of process in respect of the proceeding before such courts (and agrees that service on such agent shall be deemed personal service). 

 

	 	9.	 NOTICES 

Notices and other communications hereunder shall be in writing and may be given or made by facsimile as follows: 

If to the Parent Guarantor: 
 c/o SEACOR Marine
Holdings Inc. 
 5005 Railroad Avenue 

Morgan City, Louisiana 70380 

Attn: Legal Department 
 Facsimile
No.: 985-876-5444 

E-mail: aeverett@seacormarine.com 

If to the Facility Agent or Security Trustee: 

DNB BANK ASA, New York Branch 
 30
Hudson Yards 
 New York, New York 10001 

Attention: Ms. Samantha Stone 

Email: Samantha.stone@dnb.no 
 or to such
other address as any party shall from time to time specify in writing. Any notice sent by facsimile shall be confirmed by letter dispatched as soon as practicable thereafter. 

Every notice or demand shall, except so far as otherwise expressly provided by this Guaranty, be deemed to have been received (provided that
it is received prior to 2 p.m. New York time), in the case of a facsimile, on the date of dispatch thereof (provided that if the date of dispatch is not a Banking Day in the locality of the party to whom such notice or communication is sent it
shall be deemed to have been received on the next following Banking Day in such locality), in the case of a letter, at the time of receipt thereof. 

  
 14 

	 	10.	 CEA ELIGIBLE CONTRACT PARTICIPANT 

Notwithstanding anything to the contrary in any Transaction Document, the Parent Guarantor shall not be deemed to guarantee, become jointly and
severally obligated for or pledge assets in support of a “swap,” as defined in Section 1(a)(47) of the Commodity Exchange Act (“CEA”), of any Credit Party if at the time that swap is entered into, the Parent Guarantor is not
an “eligible contract participant” as defined in Section 1(a)(18) of the CEA. 
  

	 	11.	 HEADINGS 

In this Guaranty, Section headings are inserted for convenience of reference only and shall be ignored in the interpretation hereof. 

 

	 	12.	 AMENDMENT AND RESTATEMENT 

Each of the parties hereto hereby acknowledges and agrees that (i) this Guaranty represents, among other things, an amendment,
restatement, renewal, extension, consolidation and modification of the Original Guaranty given in connection with the Credit Agreement; (ii) this Guaranty shall evidence and secure, without interruption or impairment of any kind, all
obligations of the Guarantor under the Original Guaranty as so amended, restated, restructured, renewed, extended, consolidated and modified hereunder; (iii) this Guaranty is intended to restructure, restate, renew, extend, consolidate, amend,
modify and continue the Original Guaranty and (iv) this Guaranty does not constitute a novation of any obligations or liabilities incurred in the Original Guaranty. 

[Signature Page Follows] 

  
 15 

 IN WITNESS WHEREOF, this Guaranty has been duly executed by the Parent Guarantor as of the
date first set forth above. 
  

			
	SEACOR MARINE HOLDINGS INC.
		
	By:	 	 /s/ Jesús Llorca

	Name:	 	Jesús Llorca
	Title:	 	Executive Vice President and Chief Financial OfficerDocument

Exhibit 4.3

SSR MINING INC. 
EMPLOYEE SHARE PURCHASE
PLAN
Effective as of May 27, 2022

TABLE OF CONTENTS
						
	Section 1    Definitions    
	1

	Section 2    Purpose; Shares Subject to Plan    
	3

	Section 3    Eligibility and Enrollment    
	3

	Section 4    Participant Contributions    
	3

	Section 5    Employer Contributions    
	5

	Section 6    Acquisition of Shares    
	5

	Section 7    Sale or Withdrawal    
	6

	Section 8    Blackout Periods    
	7

	Section 9    Administration and Participant Accounts    
	8

	Section 10    Amendment and Termination    
	8

	Section 11    Miscellaneous Provisions    
	9

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SSR Mining Inc.
2022 Employee Share Purchase Plan

Section 1Definitions
1.1As used in the Plan:
“Administration Agreement” means the agreement between the Company and the Administrative Agent with respect to duties, responsibilities and rights of the Administrative Agent in connection with the Plan;
“Administrative Agent” means the company or other entity appointed from time to time by the Committee to purchase, hold and distribute Shares in accordance with the terms and provisions of the Plan and the Administrative Agreement;
“Award Date” shall have the meaning given in Section 6.2;
“Base Salary” means regular base salary excluding, for greater certainty, the value of other employee benefits, commissions, bonuses, overtime and other variable pay; unless otherwise approved by the Committee;
“Blackout Period” means the period of time when, pursuant to any policies or determinations of the Company (including pursuant to the Company’s Insider Trading Policy), the Securities Act or any Stock Exchange Policies, securities of the Company may not be traded by Insiders or other specified persons (for greater certainty, including any Restricted Persons), including any period in which any such Insiders or other specified persons are in possession of material non-public information;
“Board” means the Board of Directors of the Company;
“Business Day” means any day of the year, other than a Saturday, Sunday, a statutory holiday in British Columbia, a federal or state holiday in the U.S.A., or any day on which an Employer is not open for business during normal business hours;
“Brokerage Agent”, means a person or company as may from time to time be engaged by the Company to perform brokerage services and such other services as may be required pursuant to this Plan, including without limitation the purchase and sale of Shares;
“Code”, means the U.S. Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder;
“Committee” means the Compensation and Leadership Development Committee of the Board or such other committee as may be designated by the Board to carry out some or all of the functions assigned to the Committee hereunder;
“Company” means SSR Mining Inc.;
“Eligible Employee” shall have the meaning given in Section 3.2;
“Employee” means a full-time or part time permanent employee of the Employer, and does not include contract or seasonal employees unless authorized by the Committee;
“Employer” means the Company, any subsidiary of the Company and any successor corporations thereto that employs an Employee;
“Employer Contributions” means contributions made to the Plan by the Employer pursuant to Section 5;
“Enrollment Date” means any of January 1, April 1, July 1 and October 1, as applicable in the context, or such other date as may be approved by the Board from time to time;
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SSR Mining Inc.
2022 Employee Share Purchase Plan

“Insider” means a person described as an “insider” in either: (i) the Stock Exchange Policies or (ii) the Securities Act;
“Matching Period” means in respect of a Participant, the applicable Pay Period or Pay Periods during which a Participant’s Contribution has been made to the Plan;
“Participant” means an Employee eligible to participate in the Plan in accordance with the Section 3.2 and who has enrolled in the Plan in accordance with Section 3.3;
“Participant’s Account” means an account established by the Administrative Agent with respect to each Participant under the Plan pursuant to Section 9.4;
“Participant Contributions” means periodic contributions made by a Participant to the Plan by means of payroll deduction or in accordance with Section 4.5 and computed as a percentage of the Participant’s Base Salary;
“Pay Period” means the pay period applicable for a particular Participant;
“Plan” means this Employee Share Purchase Plan, as it may be amended from time to time;
“Remittance Date” shall have the meaning given in Section 6.1;
“Restricted Persons” has the meaning given in the Company’s Insider Trading Policy;
“Securities Act” means the Securities Act, R.S.B.C 1996, c. 418, as amended and the regulations promulgated thereunder;
“Shareholders” means all Shareholders of the Company, whether or not they are Participants;
“Shares” means the common shares in the capital of the Company and includes a fraction of a Share of the Company;
“Stock Exchange” means (i) each of the Toronto Stock Exchange and the NASDAQ, (ii) if the Shares are listed on only one of the Toronto Stock Exchange or the NASDAQ, that stock exchange, or (iii) if the Shares are listed on neither the Toronto Stock Exchange of the NASDAQ, such other stock exchange on which the Shares of the Company are listed for trading from time to time;
“Stock Exchange Policies” means the rules and policies of the Stock Exchange, as amended from time to time, including, if applicable, the TSX Company Manual as amended from time to time; and
“Tax Act” means the Income Tax Act (Canada) as amended, and the regulations promulgated thereunder.
1.2Unless the context otherwise requires, references to the masculine shall be deemed to include references to the feminine, and vice versa, and references to the singular shall be deemed to include references to the plural, and vice versa.
1.3The headings in this Plan are for ease of reference only and shall not affect the interpretation of the provisions herein contained.  A reference to a section shall, except where expressly stated otherwise, mean a section of this Plan, as applicable.
1.4A reference to writing or written form shall include any legible format capable of being reproduced on paper, irrespective of the medium used.
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SSR Mining Inc.
2022 Employee Share Purchase Plan

Section 2Purpose; Shares Subject to Plan
2.1The purpose of the Plan is to enable Employees to acquire shares in the Company, in order to provide them with a continuing stake in the Company and align their interests with those of the Shareholders.  The Plan is not intended to constitute an “employee stock purchase plan” qualified under Section 423 of the Code, nor is it intended to be an “employee benefit plan” within the meaning of section 3(3) of the Employee Retirement Income Security Act of 1974, as amended.
2.2The aggregate number of common shares of the Company that are authorized to be purchased under the Plan shall not exceed 3,000,000. Shares purchasable under the Plan will be shares repurchased by the Company on the open market.
Section 3Eligibility and Enrollment
Effective Date
3.1The Plan is effective May 27, 2022.
Eligible Employees
3.2All permanent employees of the Company and any subsidiary of the Company, except for Insiders, shall be considered “Eligible Employees” for the purposes of this Plan unless otherwise determined by the Committee.
Enrollment
3.3An Eligible Employee may give notice to the Company in a form prescribed by the Company to start participation in the Plan.  Subject to Section 8, an Employee’s participation shall commence on the Enrollment Date immediately following the date such notice is received.  Such notice shall constitute acceptance by the Employee of all the terms and conditions of the Plan.
Section 4Participant Contributions
Participant Contributions
4.1Pursuant to Section 3.3, the Employee shall specify the amount of any Participant Contributions he or she wishes to make.  Such amount of Participant Contributions must be equal to any whole percentage of the Participant’s Base Salary earned every pay period and may not exceed five percent (5%) of the Participant’s Base Salary earned every pay period (in one percent (1%) increments).  Subject to Section 4.5, all Participant Contributions shall be made through payroll deductions.  Participant Contributions shall not earn any interest pending their use to purchase Shares.
Varying Participant Contributions
4.2The Participant may give notice to the Employer to vary the amount of Participant Contributions to be deducted once per calendar year.
Stopping Participant Contributions
4.3A Participant may at any time give written notice to the Employer to stop his Participant Contributions under the Plan on the date specified in such notice.
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SSR Mining Inc.
2022 Employee Share Purchase Plan

Paid Leave of Absence
4.4A Participant on authorized paid leave of absence, including leaves with supplemental employment benefits, shall continue to make Participant Contributions through payroll deductions, as provided in Section 3.4, unless such Participant has given notice in writing to the Employee to stop Participant Contributions pursuant to Section 4.3.
Unpaid Leave of Absence
4.5In the event a Participant goes on unpaid leave approved by the Employer, employee and employer contributions to the Plan will cease during the leave period.
Restarting Participant Contributions
4.6A Participant who has stopped Participant Contributions pursuant to Section 4.3 or 4.4 is not permitted to restart Participant Contributions for a period of six (6) months (hereinafter, the “Suspension Period”) from the date that contributions are suspended. 
4.7A Participant may give notice to the Employer any time after the Suspension Period to re-start Participant Contributions under the Plan but may not make up Participant Contributions that have been missed. 
Timing
4.8Subject to Section 8, and unless a later date is specified in the relevant notice received by the Company:
(a)The Employer shall, following receipt of notice from an Employee pursuant to Section 3.3, commence payroll deductions for Participant Contributions on the next Enrollment Date;
(b)The Employer shall, commencing on the Enrollment Date following receipt of a notice under Section 4.2, vary the amount of Participant Contributions as specified in the notice;
(c)The Employer shall, following receipt of a notice under Section 4.3, ensure that no further deductions of the Participant Contributions are made by it under the Plan; and
(d)The Employer shall, following receipt of a notice under Section 4.7, to re-start deductions under the Plan, restart such Participant Contributions on the next Enrollment Date following the later of the end of the Suspension Period and receipt of a notice under Section 4.7.
Termination of Employment, Retirement
4.9In the event of the termination of employment for any reason, retirement or death of a Participant, or in the event the Plan is terminated pursuant to Section 10.2, Participant Contributions shall be automatically stopped and any Participant Contributions held by the Employer at such time shall be returned to such Participant.
Treatment of Insiders
4.10In the event that a Participant becomes an Insider, Participant Contributions shall be automatically stopped and any Participant Contributions held by the Employer at such time shall be returned to such Participant.
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SSR Mining Inc.
2022 Employee Share Purchase Plan

Section 5Employer Contributions
Employer Contributions
5.1An Employer Contribution shall be made by the Employer on the next Business Day following the end of the Matching Period applicable to the related Participant Contributions.
5.2The Employer Contribution shall be equal to twenty-five percent (25%) of the related Participant Contributions.
5.3The Employer Contribution is deemed to be a taxable benefit to the Employee and is subject to income tax, and any applicable statutory deductions in accordance with local tax regulatory authorities.
Section 6Acquisition of Shares
Remittance of Contributions
6.1Participant Contributions withheld through payroll deduction by the Employer in each Pay Period shall be remitted by the Employer to the Administrative Agent, who shall remit such Participant Contributions to the Brokerage Agent, as soon as practicable following the end of the quarter in which such withholding is effected (hereinafter “Remittance Date”).
6.2Employer Contributions shall be remitted by the Employer to the Administrative Agent, who shall remit such Employer Contributions to the Brokerage Agent, as soon as practicable following the end of the Matching Period applicable to the related Participant Contributions (hereinafter “Award Date”).
Acquisition of Shares
6.3As soon as practicable after the Remittance Date or the Award Date, but in all cases within fifteen (15) Business Days following the Remittance Date or the Award Date, as the case may be, the Brokerage Agent shall purchase Shares on behalf of the Participants with all Participant Contributions and Employer Contributions on the open market, through the facilities of the Stock Exchange, if applicable.
6.4The Brokerage Agent shall purchase only whole Shares and shall round down to the nearest whole Share with respect to any partial Shares resulting from the amount of Participant Contributions and Employer Contributions remitted to the Brokerage Agent.  Any Participant Contributions and Employer Contributions in respect of partial Shares shall be returned to the Employer for the behalf of the Participants and rolled forward into future purchase periods for the purchase of whole Shares.
Share Purchase Price
6.5The price of Shares purchased in respect of a given quarter shall correspond to their market price at the time of purchase, provided however that where the Brokerage Agent has purchased Shares under the Plan at various prices in any given quarter, the purchase price of all such Shares shall correspond to the weighted average price paid for all purchases of Shares that are required to be made under the Plan in respect of such quarter.
Registration and Voting
6.6Shares purchased or otherwise acquired by the Administrative Agent under the Plan shall be registered in the name of the Brokerage Agent approved by the Administrative Agent and held on behalf of the respective Participants.
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SSR Mining Inc.
2022 Employee Share Purchase Plan

6.7Whole shares allocated to a Participant’s Account will be voted in accordance with the directions, if any, of the Participants.
Dividends
6.8The Committee shall determine, from time to time in the discretion of the Committee, whether cash dividends paid by the Company on its Shares shall be: (i) paid out in cash to the Participants, or (ii) used to purchase additional Shares on the open market for credit to Participants’ Accounts.  The Employer shall promptly notify Participants of the Committee’s treatment of dividends as made from time to time.  Each Participant acknowledges that the receipt of dividends may be a taxable event for such Participant.
Section 7Sale or Withdrawal
Right to Sell or Withdraw
7.1Subject to Section 8, the withholding obligations in Section 11.4 and any applicable securities laws and regulations, a Participant may at any time:
(a)give written notice to the Administrative Agent to sell some or all of that portion of the Shares in the Participant’s Account in which case, the Administrative Agent shall direct the Brokerage Agent upon receipt of such notice to proceed to sell the Shares on the open market and pay to the Participant an amount equal to the net proceeds of such sale, after deduction of any applicable brokerage fees and expenses associated with the sale of those Shares which have been sold at the Participant’s direction.
(b)give written notice to the Administrative Agent to withdraw (by way of certificate or transfer) some or all of that portion of the Shares in the Participant’s Account, in which case, the Administrative Agent shall direct the Brokerage Agent upon receipt of such notice to proceed to transfer and deliver to the Participant those Shares, after deduction of any applicable brokerage fees and expenses associated with the withdrawal, that have been withdrawn at the Participant’s direction.
7.2The right of the Participant to sell or withdraw all or a portion of his or her Shares shall only be effected pursuant to the terms of Section 7.1.  For greater certainty, the Brokerage Agent is prohibited from consulting with the Participant regarding any sales or withdrawals under this Plan and the Participant is prohibited from disclosing any information, including, without limitation, Material Non-Public Information, that may influence the execution of this Plan.
7.3The Participant will be responsible for paying any fees associated with the sale or withdrawal of all or a portion of his or her Shares.  
Sale or Withdrawal on Termination of Employment or Plan Termination
7.4In the event of the termination of employment with the Company or any other Employer for any reason, including retirement or death of a Participant, or in the event the Plan is terminated pursuant to Section 10.2, the Administrative Agent shall, as directed by the Participant, the Participant’s beneficiary or the legal representatives of the Participant’s estate, as applicable, direct the Brokerage Agent to transfer and deliver or sell all the Shares in the Participant’s Account and deliver the net proceeds to the Participant, the Participant’s beneficiary or the legal representatives of the Participant’s estate, as applicable.  The Participant, beneficiary or legal representatives of the Participant’s estate, as applicable, shall provide the Administrative Agent with directions in accordance with this Section 5 within ninety (90) days of the termination of employment, retirement or death of a Participant or Plan termination, as applicable.  If no direction is received by the Administrative Agent within such time period, the Administrative Agent shall direct the Brokerage Agent to a) for 
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SSR Mining Inc.
2022 Employee Share Purchase Plan

Canadian Participants, direct the Brokerage Agent to transfer and deliver the Shares in the Participant’s Account to an individual account; and b) for non- Canadian Participants, direct the Brokerage Agent to sell all Shares and deliver the cash proceeds to the Participant.  The Participant will be responsible for paying any fees for issuance of share certificates or transfer requests.  Shares may be sold to cover fees associated with these transaction types.  The Participant shall receive the cash equivalent for any fractional Shares credited to the Participant’s Account.
7.5The Participant shall be responsible for ensuring compliance with the provisions of the Tax Act, the Code, as well as any applicable U.S. state laws in respect of the tax consequences resulting from any transfer or sale of Shares from a Participant’s Account.
Section 8Blackout Periods
8.1No Employee or Participant shall be permitted to enroll in the Plan, commence, vary, stop or restart Participant Contributions while such Employee or Participant is subject to a Blackout Period, except where written notice of the Employee’s or Participant’s intention to enroll in the Plan, commence, vary, stop or restart Participant Contributions was received by the Company prior to such Blackout Period.  No Employee or Participant shall be permitted to sell any Shares from the Plan while such Employee or Participant is subject to a Blackout Period.  Any notice to enroll in the Plan, commence, vary, stop or restart Participant Contributions, or sell Shares delivered during a Blackout Period shall only be effective as set out in Section 8.2.
8.2In respect of Employees or Participants affected by the provisions of Section 8.1:
(a)for purposes of enrollment in the Plan under Section 3.3, in the event that notice of enrollment is received by the Company during a Blackout Period, enrollment will be effective on the first Enrollment Date following the end of the applicable Blackout Period;
(b)for purposes of the commencement of Participant Contributions under Section 4.1, in the event that notice of commencement of Participant Contributions was received during a Blackout Period, payroll deductions will commence with the first payroll period following the first Enrollment Date following the end of the applicable Blackout Period;
(c)for purposes of varying Participant Contributions under Section 4.2, stopping Participant Contributions under Section 4.3 or restarting Participant Contributions under Section 4.7, in the event the notice to vary, stop or restart Participant Contributions is received during a Blackout Period, Participant Contributions will be varied, stopped or restarted upon the commencement of the first Enrollment Date following the end of the applicable Blackout Period; and
(d)any notice to sell Shares made by Participant under Sections 7.1 or 7.2 will only be valid if the notice is served and the sale occurs outside of a Blackout Period.
8.3For the avoidance of doubt, nothing in this Section 8 shall restrict the Company from making purchases under the Plan in the ordinary course.
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SSR Mining Inc.
2022 Employee Share Purchase Plan

Section 9Administration and Participant Accounts
Administration
9.1The Plan shall be administered by the Human Resources Department of the Company, subject to the oversight of the Committee.  
Participant Accounts
9.2The Administrative Agent shall maintain, or cause to be maintained, one or more separate accounts for each Participant.  The Administrative Agent shall credit to the account of a Participant all Participant Contributions made by such Participant, all Employer Contributions awarded, and all Shares acquired.
Participant Account Statements
9.3The Administrative Agent shall provide a statement of account to each Participant setting out the activity relating to the Participant’s Account on an annual basis.  The statement of account to each Participant shall include information as agreed to between the Administrative Agent and the Company.
9.4Except as otherwise provided in this plan, the Employer shall pay all costs of administering the Plan, including without limitation all the fees and expenses of the Administrative Agent.  All brokerage fees relating to the acquisition of Shares shall be borne by the Company or the applicable Employer.  All brokerage and other fees relating to the sale or withdrawal of Shares shall be paid by the relevant Participants.
No Share Value Guarantee
9.5The Company makes no representation or warranty as to the future market value of any Shares acquired in accordance with the provisions of the Plan.
Section 10Amendment and Termination
Amendment
10.1The Committee may amend or suspend at any time, and from time to time, all or any of the provisions of the Plan at its sole and complete discretion, except that no such amendment shall operate so as to deprive a Participant of any Shares or any Employer Contributions credited to a Participant’s Account or otherwise due to a Participant prior to the date thereof.  Notwithstanding the foregoing, if any provision of the Plan contravenes any applicable law or regulation or any rule, regulation, by-law or policy of any regulatory authority or stock exchange having jurisdiction or authority over the Company, any other Employer or the Plan, then the Committee may amend such provision, retroactively or prospectively, to the extent required to bring such provision into compliance therewith.
10.2Notwithstanding Section 10.1, no amendment to Section 5.2 shall be made without obtaining approval of the Shareholders.
Plan Termination
10.3The Committee reserves the right, in its sole and complete discretion, to terminate the Plan, in whole or in part, at any time provided that no such termination shall operate so as to deprive a Participant of any Shares or Employer Contributions credited to a Participant’s Account or otherwise due to a Participant prior to the date thereof.
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SSR Mining Inc.
2022 Employee Share Purchase Plan

Section 11Miscellaneous Provisions
Participant’s Rights not Transferable
11.1Except as provided herein or as required by applicable legislation, the rights of a Participant pursuant to the provisions of the Plan are non-assignable and non-transferable, in whole or in part.  No attempted assignment or transfer thereof, otherwise than in accordance with the provisions hereof, shall be effective.
No Effect on Employment
11.2Participation in the Plan by an Employee shall be voluntary.  The terms of employment of an Employee shall not be affected by his or her participation in the Plan.  Nothing contained in the Plan or in any documentation pertaining thereto shall confer upon any Participant any right with respect to continuance of employment by the Employer or interfere in any way with the right of the Employer to terminate the employment of any Participant.  Under no circumstances shall any person, who is or has at any time been a Participant, be able to claim from the Employer or any related person any sum or other benefit to compensate for loss of any rights or benefits under or in connection with this Plan or by reason of his or her participation herein.  For greater certainty, a period of notice or payment in lieu thereof, if any, upon termination of employment, wrongful or otherwise, shall not be considered as extending the period of employment for purposes of the Plan.
Jurisdiction
11.3This Plan shall be construed, enforced and administered in accordance with the laws of the Province of British Columbia and laws of Canada applicable therein.
Withholdings
11.4The Company, or any applicable Employer, may withhold or cause to be withheld from any amount payable to a Participant, either under this Plan or otherwise, such amount as may be required by law to be withheld with respect to any tax or other required deductions and may, without limiting the generality of the foregoing, cause to be sold a Participant’s Plan Shares to the extent required in order to effect any such withholding or other required deduction.
Information to be Provided
11.5Each Participant and other person entitled to benefits under the Plan shall, upon request, furnish such information as may be required by the Employer, Committee or the Administrative Agent in order to administer the Plan including, without limitation, to make the payments under Section 7.2.
Severability
11.6If any provision or part of the Plan is determined to be void or unenforceable in whole or in part, such determination shall not affect the validity or enforcement of any other provision or part of the Plan.
11.7Section 409A
(a)This Plan and the benefits provided under it to U.S. Participants are intended to comply with the short-term deferral exemption under Section 409A of the Code (“Section 409A”), and the regulations and other interpretive guidance promulgated thereunder, as in effect from time to time.  Notwithstanding the foregoing or any provisions of the Plan to the contrary, if the Company determines that such exemption is not applicable to the Plan benefits, or any provision of the Plan 
9

SSR Mining Inc.
2022 Employee Share Purchase Plan

contravenes Section 409A or could cause the U.S. Participant to incur any tax, interest or penalties under Section 409A, the Committee may, in its sole discretion and without any Participant’s consent, modify such provision and any appropriate policies and procedures, including amendments and policies with retroactive effect, and take such other actions as the Committee determines necessary or appropriate (x) to comply with, or avoid being subject to, Section 409A, or to avoid the incurrence of any taxes, interest and penalties under Section 409A, and/or (y) preserve, to the maximum extent practicable, the intended tax treatment of the benefits provided by the Plan without materially increasing the cost to the Company or contravening the provisions of Section 409A.  This Section 11.7(a) does not create an obligation on the part of the Company to modify the Plan and does not guarantee that Plan benefits will not be subject to taxes, interest and penalties under Section 409A.
(b)If a U.S. Participant becomes entitled to receive payment from such Participant’s Account as a result of his or her “separation from service” (within the meaning of Section 409A), and the U.S. Participant is a “specified employee” (within the meaning of Section 409A) at the time of his or her separation from service, and the Committee makes a good faith determination that (i) all or a portion of the Participant Account constitutes “deferred compensation” (within the meaning of Section 409A) and (ii) any such deferred compensation that would otherwise be payable during the six-month period following such separation from service is required to be delayed pursuant to the six-month delay rule set forth in Section 409A in order to avoid taxes or penalties under Section 409A, then payment of such “deferred compensation” shall not be made to the U.S. Participant before the date which is six months after the date of his or her separation from service (and shall be paid in a single lump sum, without interest, on the first day of the seventh month following the date of such separation from service) or, if earlier, the U.S. Participant’s date of death.
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