Document:

CONSENT AND TENTH AMENDMENT TO CREDIT
AGREEMENT AND FIRST

AMENDMENT TO SECURITY AGREEMENT

 

THIS CONSENT AND TENTH
AMENDMENT TO CREDIT AGREEMENT AND FIRST AMENDMENT TO SECURITY AGREEMENT (this "Amendment"), with an effective
date of June 30, 2012, is by and among the Lenders party hereto, WELLS FARGO CAPITAL FINANCE, LLC, formerly known as Wells Fargo
Foothill, LLC, a Delaware limited liability company, as the agent for the Lenders (in such capacity, "Agent"),
MDC PARTNERS INC., a Canadian corporation ("Parent"), Maxxcom Inc.,
a Delaware corporation ("Borrower"), and each of the Subsidiaries of Parent identified on the signature pages
hereof (together with Parent and Borrower, the "Loan Parties").

 

WHEREAS, Parent, Borrower,
the other Loan Parties, Agent, and Lenders are parties to that certain Credit Agreement dated as of October 23, 2009 (as amended,
modified or supplemented from time to time, the "Credit Agreement");

 

WHEREAS, Parent, Borrower,
the other Loan Parties, and Agent are parties to that certain Security Agreement dated as of October 23, 2009 (as amended, modified
or supplemented from time to time, the "Security Agreement");

 

WHEREAS, Borrower has
requested that Agent and Lenders consent to the sale by Redscout LLC of all of its equity interests in Hapify LLC, a Delaware limited
liability company ("Hapify"), to Roo Rogers pursuant to that certain Membership Interest Purchase Agreement dated
as of June 30, 2012, a copy of which is attached hereto as Exhibit A, for a purchase price in the amount of $10 (such sale,
the "Hapify Sale")

 

WHEREAS, Borrower has
requested that Agent and Lenders consent to the sale by MDC Corporate (US) Inc. of all of its equity interests in The Bull-White
House LLC, a Delaware limited liability company ("Bull White House") to Matthew Bull and Andrew Whitehouse pursuant
to that Membership Interest Purchase Agreement dated as of June 30, 2012, a copy of which is attached hereto as Exhibit B,
for a purchase price in the amount of $10 plus certain other deferred payments set forth therein (such sales, the "Bull
White House Sale", and together with the Hapify Sale collectively, the "Immaterial Sub Sales");

 

WHEREAS, Borrower, Agent
and the Lenders have agreed to amend and modify each of the Credit Agreement and the Security Agreement as provided herein, in
each case subject to the terms and provisions hereof.

 

NOW THEREFORE, in consideration
of the premises and mutual agreements herein contained, the parties hereto agree as follows:

 

1.          Defined
Terms. Unless otherwise defined herein, capitalized terms used herein shall have the meanings ascribed to such terms in the
Credit Agreement.

 

2.          Consent.
Subject to the satisfaction of the conditions set forth in Section 6 below and in reliance upon the representations and
warranties of the Loan Parties set forth in Section 7 below, Agent and Lenders hereby consent to the Immaterial Sub Sales
and hereby agree to release all liens of Agent and Lenders in the equity interests of Bull White House and Hapify upon consummation
of the Immaterial Sub Sales.

 

    	 

    	 

    

 

3.          Amendments
to Credit Agreement. Subject to the satisfaction of the conditions set forth in Section 6 below and in reliance upon
the representations and warranties of the Loan Parties set forth in Section 7 below, the Credit Agreement is hereby amended
as follows:

 

(a)          Each
of Section 2.4(e)(i) and Section 2.4(e)(ii) of the Credit Agreement is hereby amended to deleted the phrase "Excess Availability
would be less than $15,000,000" and replace it with the following: "Excess Availability would be less than the Earnout
Threshold Amount".

 

(b)          Clause
(i) of Section 2.12(b) of the Credit Agreement is hereby amended by deleting the reference to "3 months" contained therein
and inserting "1, 2 or 3 Months" in lieu thereof.

 

(c)          Clause
(ii) of Section 2.13(a) of the Credit Agreement is hereby amended by (i) deleting the phrase "regarding capital adequacy"
and replacing it with "regarding capital adequacy or liquidity" and (ii) deleting the phrase "with respect to capital
adequacy" and replacing it with "with respect to capital adequacy and liquidity".

 

(d)          Section
2.13 of the Credit Agreement is hereby amended by adding the following paragraph (c) following paragraph (b) thereof:

 

" (c)          Notwithstanding
anything herein to the contrary, (i) the issuance of any rules, regulations or directions under the Dodd-Frank Wall Street Reform
and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and
(ii) all requests, rules, guidelines and 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, shall be
deemed to be a change in law, rule, regulation or guideline for purposes of Sections 2.12 and 2.13 and the protection of Sections
2.12 and 2.13 shall be available to each Lender and Issuing Lender regardless of any possible contention of the invalidity or
inapplicability of the law, rule, regulation, guideline or other change or condition which shall have occurred or been imposed,
so long as it shall be customary for lenders or issuing banks affected thereby to comply therewith." 
  

    	-2-

    	 

    

 

(e)          Section
6.9(f) of the Credit Agreement is hereby amended by deleting the phrase "exceeds the Applicable Excess Availability Amount"
and replacing it with the following: "exceeds the Dividend Threshold Amount".

 

(f)          Section
7(e) of the Credit Agreement is hereby amended and restated in its entirety as follows:

 

(e)          Total
Leverage Ratio. Have a Total Leverage Ratio, measured on a quarter-end basis, of not greater than the applicable ratio set
forth in the following table for the applicable date set forth opposite thereto:

 

	Applicable Ratio	 	Applicable Date
	 	 	 
	4.25:1.0	 	For the 12 month period ending June 30, 2012
	 	 	 
	4.0:1.0	 	For the 12 month period ending
	 	 	September 30, 2012 and for the 12 month period
	 	 	ending on the last day of each calendar quarter thereafter

 

(g)          The
definition of "Base LIBOR Rate" in Schedule 1.1 of the Credit Agreement is hereby amended by deleting the reference to
"3 months" contained therein and inserting "1, 2 or 3 Months (as elected by Borrower
in accordance with this Agreement)" in lieu thereof.

 

(h)          Schedule
1.1 of the Credit Agreement is hereby amended to amend and restate the definition of " Excess Availability" in its entirety
as follows:

 

"Excess Availability" means, as of
any date of determination, (i) as used in the Credit Agreement, the amount equal to the Borrowing Base minus Revolver Usage
at such time, (ii) as used in the Security Agreement, the amount equal to (a) the lesser of (x) $10,000,000 and (y) the Borrowing
Base minus Revolver Usage at such time, plus (b) Availability minus the aggregate amount, if any, of all then
outstanding and unpaid trade payables of Parent and its Subsidiaries which are more than sixty (60) days past due and all book
overdrafts of Parent and its Subsidiaries in excess of historical practices with respect thereto, and (iii) as used in all other
Loan Documents, the amount equal to Availability minus the aggregate amount, if any, of all then outstanding and unpaid
trade payables of Parent and its Subsidiaries which are more than sixty (60) days past due and all book overdrafts of Parent and
its Subsidiaries in excess of historical practices with respect thereto, in each case as determined by Agent in its Permitted Discretion.

 

    	-3-

    	 

    

 

(i)          The
definition of "Interest Period" in Schedule 1.1 of the Credit Agreement is hereby amended by deleting each reference
to "3 months" contained therein and inserting "1, 2 or 3 Months" in lieu thereof.

 

(j)          Schedule
1.1 of the Credit Agreement is hereby amended to amend and restated paragraph (e) of the definition of "Permitted Acquisition"
in its entirety as follows:

 

"(e) Borrower shall have Excess Availability
plus Qualified Cash in an amount equal to or greater than the Applicable Excess Availability Amount after giving effect to the
consummation of the proposed Acquisition."

 

(k)          Schedule
1.1 of the Credit Agreement is hereby amended to insert the following definitions in the proper order alphabetically:

 

"Dividend Threshold Amount" means,
at any time that EBITDA as of the most recently ended twelve month period for which financial statements were required to be delivered
pursuant to Section 5.1 (i) is greater than or equal to $150,000,000, $15,000,000, (ii) is less than $150,000,000 but greater
than or equal to $125,000,0000, $20,000,000 and (iii) is less than $125,000,000, $25,000,000.

 

"Earnout Threshold Amount" means
at any time that EBITDA as of the most recently ended twelve month period for which financial statements were required to be delivered
pursuant to Section 5.1 (i) is greater than or equal to $150,000,000, $10,000,000, (ii) is less than $150,000,000 but greater
than or equal to $125,000,0000, $15,000,000 and (iii) is less than $125,000,000, $20,000,000.

 

4.          Amendments
to Security Agreement. Subject to the satisfaction of the conditions set forth in Section 6 below and in reliance upon
the representations and warranties of the Loan Parties set forth in Section 7 below, the Security Agreement is hereby amended
as follows:

 

(a)          The
defined term "Triggering Event" in Section 1 of the Security Agreement is hereby amended by deleting the reference to
"$25,000,000" contained therein and inserting "$20,000,000" in lieu thereof.

 

5.          Ratification;
Other Acknowledgments. This Amendment, subject to satisfaction of the conditions provided below, shall constitute an amendment
to the Credit Agreement, the Security Agreement and all of the other Loan Documents as appropriate to express the agreements contained
herein. The Credit Agreement, the Security Agreement and the other Loan Documents shall remain unchanged and in full force and
effect in accordance with their original terms.

 

6.          Conditions
to Effectiveness. This Amendment shall become effective as of the date hereof and upon the satisfaction of the following conditions
precedent:

 

(a)          Agent
shall have received a fully executed copy of this Amendment;

 

(b)          Agent
shall have received an amendment fee in an amount of $75,000, in immediately available funds; and

 

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(c)          No
Default or Event of Default shall have occurred and be continuing on the date hereof or as of the date of the effectiveness of
this Amendment.

 

7.          Representations
and Warranties. In order to induce Agent and Lenders to enter into this Amendment, each Loan Party hereby represents and warrants
to Agent and Lenders, after giving effect to this Amendment:

 

(a)          All
representations and warranties contained in the Credit Agreement (as amended by this Amendment) and the other Loan Documents are
true and correct on and as of the date of this Amendment, in each case as if then made, other than representations and warranties
that expressly relate solely to an earlier date (in which case such representations and warranties were true and correct on and
as of such earlier date);

 

(b)          No
Default or Event of Default has occurred and is continuing; and

 

(c)          the
execution, delivery and performance of this Amendment has been duly authorized by all requisite corporate action on the part of
such Loan Party.

 

8.          Miscellaneous.

 

(a)          Expenses.
Borrower agrees to pay on demand all costs and expenses of Agent (including the reasonable fees and expenses of outside counsel
for Agent) in connection with the preparation, negotiation, execution, delivery and administration of this Amendment and all other
instruments or documents provided for herein or delivered or to be delivered hereunder or in connection herewith. All obligations
provided herein shall survive any termination of this Amendment and the Credit Agreement as amended hereby.

 

(b)          Governing
Law. This Amendment shall be a contract made under and governed by the internal laws of the State of New York.

 

(c)          Counterparts.
This Amendment may be executed in any number of counterparts, and by the parties hereto on the same or separate counterparts, and
each such counterpart, when executed and delivered, shall be deemed to be an original, but all such counterparts shall together
constitute but one and the same Amendment.

 

9.          Release.

 

(a)          In
consideration of the agreements of Agent and Lenders contained herein and for other good and valuable consideration, the receipt
and sufficiency of which is hereby acknowledged, each Loan Party, on behalf of itself and its successors, assigns, and other legal
representatives, hereby absolutely, unconditionally and irrevocably releases, remises and forever discharges Agent and Lenders,
and their successors and assigns, and their present and former shareholders, affiliates, subsidiaries, divisions, predecessors,
directors, officers, attorneys, employees, agents and other representatives (Agent, each Lender and all such other Persons being
hereinafter referred to collectively as the "Releasees" and individually as a "Releasee"), of
and from all demands, actions, causes of action, suits, covenants, contracts, controversies, agreements, promises, sums of money,
accounts, bills, reckonings, damages and any and all other claims, counterclaims, defenses, rights of set-off, demands and liabilities
whatsoever (individually, a "Claim" and collectively, "Claims") of every name and nature, known
or unknown, suspected or unsuspected, both at law and in equity, which such Loan Party or any of its respective successors, assigns,
or other legal representatives may now or hereafter own, hold, have or claim to have against the Releasees or any of them for,
upon, or by reason of any circumstance, action, cause or thing whatsoever which arises at any time on or prior to the day and date
of this Amendment, including, without limitation, for or on account of, or in relation to, or in any way in connection with any
of the Credit Agreement, or any of the other Loan Documents or transactions thereunder or related thereto.

 

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(b)          Each
Loan Party understands, acknowledges and agrees that the release set forth above may be pleaded as a full and complete defense
and may be used as a basis for an injunction against any action, suit or other proceeding which may be instituted, prosecuted or
attempted in breach of the provisions of such release.

 

(c)          Each
Loan Party agrees that no fact, event, circumstance, evidence or transaction which could now be asserted or which may hereafter
be discovered shall affect in any manner the final, absolute and unconditional nature of the release set forth above.

 

[Signature Page Follows]

 

    	-6-

    	 

    

 

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

 

	 	MDC PARTNERS INC., a federal company
	 	organized under the laws of Canada
	 	 	 
	 	By:	 
	 	Name:	Mitchell Gendel
	 	Title:	Authorized Signatory
	 	 	 
	 	By:	 
	 	Name:	Michael Sabatino
	 	Title:	Authorized Signatory

 

	 	MAXXCOM INC.,
	 	a Delaware corporation
	 	 	 
	 	By:	 
	 	Name: 	Mitchell Gendel
	 	Title:	Authorized Signatory
	 	 	 
	 	By:	 
	 	Name:	Michael Sabatino
	 	Title:	Authorized Signatory

 

Signature Pages to Consent and Tenth Amendment to Credit Agreement
and First Amendment to Security Agreement

 

    	 

    	 

    

 

	 	72ANDSUNNY PARTNERS, LLC.
	 	a Delaware limited liability company
	 	 
	 	Accent Marketing Services, L.L.C.,
	 	a Delaware limited liability company
	 	 
	 	Adrenalina LLC,
	 	a Delaware limited liability company
	 	 
	 	ANOMALY PARTNERS LLC,
	 	a Delaware limited liability company
	 	 
	 	ALLISON & PARTNERS LLC,
	 	a Delaware limited liability company
	 	 
	 	Attention Partners LLC,
	 	a Delaware limited liability company
	 	 
	 	Bruce Mau Design (USA) LLC,
	 	a Delaware limited liability company
	 	 
	 	Colle & McVoy LLC,
	 	a Delaware limited liability company
	 	 
	 	Colle & McVoy, Inc.,
	 	a Minnesota corporation
	 	 
	 	COMMUNIFX PARTNERS LLC,
	 	a Delaware limited liability company
	 	 
	 	Company C Communications, Inc.,
	 	a Delaware corporation
	 	 
	 	Company C CommunIcations LLC,
	 	a Delaware limited liability company
	 	 
	 	CONCENTRIC PARTNERS LLC,
	 	a Delaware limited liability company
	 	 
	 	Crispin Porter & Bogusky LLC,
	 	a Delaware limited liability company
	 	 
	 	DONER PARTNERS LLC,
	 	a Delaware limited liability company
	 	 
	 	DOTBOX LLC,
	 	a Delaware limited liability company

 

    	 

    	 

    

 

	 	Dotglu LLC, a Delaware limited liability company
	 	 
	 	EXPECTING PRODUCTIONS, LLC,
	 	a California limited liability company
	 	By: Hudson and Sunset Media, LLC, its sole member
	 	 
	 	GUARDIANT WARRANTY, LLC,
	 	a Delaware limited liability company
	 	 
	 	Hello Design, LLC,
	 	a California limited liability company
	 	 
	 	HL Group Partners LLC,
	 	a Delaware limited liability company
	 	 
	 	HUDSON AND SUNSET MEDIA, LLC
	 	(formerly known as Shout Media LLC),
	 	a California limited liability company
	 	 
	 	HW ACQUISITION LLC,
	 	a Delaware limited liability company
	 	 
	 	INTEGRATED MEDIA SOLUTIONS PARTNERS LLC,
	 	a Delaware limited liability company
	 	 
	 	KBP Holdings LLC,
	 	a Delaware limited liability company
	 	 
	 	KBS+P ATLANTA LLC
	 	(formerly known as Fletcher Martin LLC),
	 	a Delaware limited liability company
	 	 
	 	KIRSHENBAUM BOND SENECAL &
	 	Partners LLC (formerly known as Kirshenbaum
	 	Bond & Partners LLC),
	 	a Delaware limited liability company
	 	 
	 	Kirshenbaum Bond & Partners West LLC,
	 	a Delaware limited liability company
	 	 
	 	KWITTKEN PR LLC,
	 	a Delaware limited liability company
	 	 
	 	LAIRD + PARTNERS NEW YORK LLC,
	 	a Delaware limited liability company

 

Signature Pages to Consent and Tenth Amendment to Credit Agreement
and First Amendment to Security Agreement

 

    	 

    	 

    

 

	 	Margeotes Fertitta Powell LLC,
	 	a Delaware limited liability company
	 	 
	 	Maxxcom (USA) Finance Company,
	 	a Delaware corporation
	 	 
	 	Maxxcom (USA) Holdings Inc.,
	 	a Delaware corporation
	 	 
	 	MDC Acquisition Inc.,
	 	a Delaware Corporation
	 	 
	 	MDC Corporate (US) Inc.,
	 	a Delaware corporation
	 	 
	 	MDC INNOVATION PARTNERS LLC
	 	(d/b/a Spies & Assassins),
	 	a Delaware limited liability company
	 	 
	 	MDC Travel, Inc.,
	 	a Delaware corporation
	 	 
	 	MDC/KBP Acquisition Inc. (for itself and as
	 	successor-in-interest to Hello Acquisition Inc.),
	 	a Delaware corporation
	 	 
	 	MF+P Acquisition Co.,
	 	a Delaware corporation
	 	 
	 	Mono Advertising, LLC,
	 	a Delaware limited liability company
	 	 
	 	NEW TEAM LLC,
	 	a Delaware limited liability company
	 	 
	 	Northstar Research GP LLC,
	 	a Delaware limited liability company
	 	 
	 	Northstar Research Holdings USA LP,
	 	a Delaware limited partnership
	 	 
	 	Northstar Research Partners (USA) 

LLC, a Delaware limited liability company
	 	 
	 	OUTERACTIVE, LLC,
	 	a Delaware limited liability company

 

Signature Pages to Consent and Tenth Amendment to Credit Agreement
and First Amendment to Security Agreement

 

    	 

    	 

    

 

	 	PULSE MARKETING, LLC,
	 	a Delaware limited liability company
	 	 
	 	Redscout LLC,
	 	a Delaware limited liability company
	 	 
	 	RELEVENT PARTNERS LLC,
	 	a Delaware limited liability company
	 	 
	 	RJ PALMER PARTNERS LLC,
	 	a Delaware limited liability company
	 	 
	 	Skinny NYC LLC,
	 	a Delaware limited liability company
	 	 
	 	SLOANE & COMPANY LLC,
	 	a Delaware limited liability company
	 	 
	 	Source Marketing LLC,
	 	a New York limited liability company
	 	 
	 	TARGETCAST LLC,
	 	a Delaware limited liability company
	 	 
	 	TargetCom LLC,
	 	a Delaware limited liability company
	 	 
	 	TC Acquisition Inc.,
	 	a Delaware corporation
	 	 
	 	THE ARSENAL LLC
	 	(formerly known as Team Holdings LLC),
	 	a Delaware limited liability company
	 	 
	 	Track 21 LLC,
	 	a Delaware limited liability company
	 	 
	 	Traffic Generators, LLC,
	 	a Georgia limited liability company
	 	 
	 	TRADE X PARTNERS LLC,
	 	a Delaware limited liability company
	 	 
	 	VARICK MEDIA MANAGEMENT LLC,
	 	a Delaware limited liability company
	 	 
	 	VitroRobertson LLC,
	 	a Delaware limited liability company

 

Signature Pages to Consent and Tenth Amendment to Credit Agreement
and First Amendment to Security Agreement

 

    	 

    	 

    

 

	 	Yamamoto Moss Mackenzie, Inc.,
	 	a Delaware corporation
	 	 
	 	ZG Acquisition Inc. (for itself and as successor-
	 	in-interest to MDC/CPB Holdings Inc.),
	 	a Delaware corporation
	 	 
	 	Zyman Group, LLC,
	 	a Delaware limited liability company
	 	 
	 	By:  	             
	 	Name: Mitchell Gendel
	 	Title: Authorized Signatory
	 	 	 
	 	By:	 
	 	Name: Michael Sabatino
	 	Title: Authorized Signatory

 

Signature Pages to Consent and Tenth Amendment to Credit Agreement
and First Amendment to Security Agreement

 

    	 

    	 

    

 

	 	ACCUMARK PARTNERS INC. (formerly known as 

6 Degrees Integrated Communications Inc.), an Ontario 

corporation
	 	 
	 	ASHTON POTTER CANADA INC.,
	 	an Ontario corporation
	 	 
	 	BOOM MARKETING INC., an Ontario corporation
	 	 
	 	HENDERSON BAS, an Ontario general partnership, 

by the members of its management committee
	 	 
	 	BRUCE MAU DESIGN INC.,
	 	an Ontario corporation
	 	 
	 	BRUCE MAU HOLDINGS LTD.,
	 	an Ontario corporation
	 	 
	 	TREE CITY INC.,
	 	an Ontario corporation
	 	 
	 	VERITAS COMMUNICATIONS INC.,
	 	an Ontario corporation
	 	 
	 	656712 ONTARIO LIMITED,
	 	an Ontario corporation
	 	 
	 	NORTHSTAR RESEARCH HOLDINGS CANADA INC., an Ontario corporation
	 	 
	 	NORTHSTAR RESEARCH PARTNERS INC.,
	 	an Ontario corporation
	 	 
	 	X CONNECTIONS INC., an Ontario corporation
	 	 
	 	STUDIO PICA INC., a federal company organized 

under the laws of Canada
	 	 
	 	6 DEGREES INTEGRATED 

COMMUNICATIONS CORP, an Ontario 

corporation
	 	 
	 	MAXXCOM (NOVA SCOTIA) CORP.,
	 	a Nova Scotia corporation
	 	 
	 	BRYAN MILLS IRADESSO CORP.,
	 	an Ontario corporation

 

Signature Pages to Consent and Tenth Amendment to Credit Agreement
and First Amendment to Security Agreement

 

    	 

    	 

    

 

	 	KENNA COMMUNICATIONS LP,
	 	an Ontario limited partnership
	 	By: 	Kenna Communications GP Inc.
	 	 	Its general partner
	 	 	 
	 	CAPITAL C PARTNERS LP,
	 	an Ontario limited partnership
	 	By:	Capital C Partners GP Inc.
	 	 	Its general partner
	 	 	 
	 	KENNA COMMUNICATIONS GP INC.,
	 	an Ontario corporation
	 	 	 
	 	CAPITAL C PARTNERS GP INC.,
	 	an Ontario corporation
	 	 	 
	 	CRISPIN PORTER + BOGUSKY CANADA LP,
	 	an Ontario limited partnership
	 	By: Its general partner, MDC Canada GP Inc.
	 	 	 
	 	KBS+P CANADA LP,
	 	an Ontario limited partnership
	 	By: Its general partner, MDC Canada GP Inc.
	 	 	 
	 	COMPUTER COMPOSITION OF CANADA LP,
	 	an Ontario limited partnership
	 	By: Its general partner, MDC Canada GP Inc.

 

	 	MDC CANADA GP INC.,
	 	a corporation incorporated under the laws of Canada
	 	 	 
	 	By:	    
	 	Name:	Mitchell Gendel
	 	Title:	Authorized Signatory
	 	 	 
	 	By:	    
	 	Name: 	Michael Sabatino
	 	Title:	Authorized Signatory

 

Signature Pages to Consent and Tenth Amendment to Credit Agreement
and First Amendment to Security Agreement

 

    	 

    	 

    

 

	 	CRISPIN PORTER & BOGUSKY EUROPE AB,
	 	a limited company existing under the laws of Sweden
	 	 	 
	 	By:	    
	 	Name: 	Mitchell Gendel
	 	Title:	Authorized Signatory
	 	 	 
	 	By:	 
	 	Name:	Michael Sabatino
	 	Title:	Authorized Signatory

 

Signature Pages to Consent and Tenth Amendment to Credit Agreement
and First Amendment to Security Agreement

 

    	 

    	 

    

 

	 	WELLS FARGO CAPITAL FINANCE, LLC,
	 	formerly known as Wells Fargo Foothill, LLC, as 

Agent and as a Lender 
	 	 	 
	 	By:	    
	 	Name: 	 
	 	Title:	 
	 	 	 
	 	JPMorgan Chase Bank, N.A., as a Lender
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	Bank of Montreal, as a Lender
	 	 	 
	 	By:	 
	 	Name: 	 
	 	Title:	 
	 	 	 
	 	Goldman Sachs Lending Partners LLC, as a Lender
	 	 	 
	 	By:	 
	 	Name: 	 
	 	Title:	 

 

Signature Pages to Consent and Tenth Amendment to Credit Agreement
and First Amendment to Security Agreement

 

    	 

    	 

    

 

EXHIBIT A

 

Signature Pages to Consent and Tenth Amendment to Credit Agreement
and First Amendment to Security Agreement

 

    	 

    	 

    

 

EXHIBIT B

 

Signature Pages to Consent and Tenth Amendment to Credit Agreement
and First Amendment to Security Agreement***Text Omitted and Filed Separately

Confidential Treatment Requested

Under 17 C.F.R. §§ 200.80(b)(4)
and 240.24b-2

 

 

AMENDMENT N° 9

 

 

TO THE

 

 

FULL SCALE SYSTEM DEVELOPMENT CONTRACT

 

No. IS-10-021

 

Between

 

Iridium
Satellite LLC

 

And

 

THALES ALENIA SPACE FRANCE

 

for the

 

IRIDIUM NEXT SYSTEM

 

 

*** Certain confidential information contained in this document,
marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of
the Securities Exchange Act of 1934, as amended.

 

    	 

    	 

    

 

***Text Omitted and Filed Separately

Confidential Treatment Requested

Under 17 C.F.R. §§ 200.80(b)(4)
and 240.24b-2

 

PREAMBLE

 

This Amendment N° 9 (the “Amendment”)
to the Full Scale System Development Contract No. IS-10-021 signed on June 1, 2010 between Iridium Satellite LLC and Thales Alenia
Space France for the Iridium Next System, as amended, (the “Contract”) is entered into on this 19th day of June,
2012 by and between Thales Alenia Space France, a company organized and existing under the laws of France, having its registered
office at 26 avenue Jean François Champollion 31100 Toulouse – FRANCE (“Contractor”), and Iridium Satellite
LLC, a limited liability company organized under the laws of Delaware, having an office at 1750 Tysons Boulevard, Suite 1400, McLean,
VA 22102 - USA (“Purchaser”).

 

RECITALS

 

WHEREAS, Purchaser issued a letter,
dated [***], authorizing Contractor to proceed with work necessary to [***], which is superseded by this Amendment;

 

WHEREAS, the Parties have agreed
to [***]; and

 

WHEREAS, the Parties have reached
agreement on the total price for [***].

 

NOW, THEREFORE, in consideration
of the premises and for good and valuable consideration, the receipt and adequacy of which are hereby expressly acknowledged, and
intending to be legally bound, the Parties hereby agree as follows:

 

Article 1: Capitalized terms
used but not defined in this Amendment shall have the meanings ascribed thereto in the Contract or any amendments thereto, as the
case may be.

 

Article 2:Customer’s
portion of the cost to [***] U.S. Dollars (US$[***]), shall be deducted from the Adjustment leaving a remaining Adjustment balance
of [***] U.S. Dollars (US$[***]).

 

Article 3:Contractor
shall deliver to Customer the final details of any [***] for Customer’s review and consultation prior to proceeding with
any [***].

 

Article 4:If the Launch
date of any Satellite Batch is delayed solely due to the [***], the Grace Period of such affected Satellite Batch will be extended
by no more than [***].

 

Article 5:This Amendment may
be executed and delivered (including via facsimile or other electronic means) in one or more counterparts, each of which shall
be deemed to be an original, but all of which shall constitute one and the same agreement.

 

Article 6: All other
provisions of the Contract not expressly referred to in this Amendment remain in full force and effect.

 

IN WITNESS WHEREOF, the Parties
have executed this Amendment by their duly authorized officers as of the date set forth in the Preamble.

 

	IRIDIUM SATELLITE LLC	 	THALES ALENIA SPACE FRANCE
	 	 	 
	/s/ S. Scott Smith	 	/s/ Nathalie Smirnov
	S. Scott Smith	 	Nathalie Smirnov
	Executive Vice President,	 	Senior Vice President,
	Satellite Development & Operations	 	System & Payload – Telecom

 

*** Certain confidential information contained in this document,
marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of
the Securities Exchange Act of 1934, as amended.

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