Document:

Exhibit 10.1

 

BROOKFIELD DTLA FUND OFFICE TRUST INVESTOR
INC.

 

INDEMNIFICATION AGREEMENT

 

This INDEMNIFICATION AGREEMENT (the “Agreement”)
is made and entered into as of [Execution Date], by and between Brookfield DTLA Fund Office Trust Investor, Inc., a Maryland corporation
(the “Company”), and [Name of Indemnitee] (the “Indemnitee”).

 

WHEREAS, it is essential that the Company
be able to retain and attract as directors and officers the most capable persons available;

 

WHEREAS, the Company’s bylaws (the
“Bylaws”) permit it to enter into indemnification arrangements and agreements;

 

WHEREAS, the Company desires to enter into
this Agreement in order to induce the Indemnitee to continue to serve as a director or officer of the Company; and

 

WHEREAS, the Indemnitee is relying upon
the rights afforded under this Agreement in continuing to serve as a director or officer of the Company.

 

NOW, THEREFORE, in consideration of the
mutual promises and covenants contained herein, the Company and the Indemnitee do hereby covenant and agree as follows:

 

Section 1.    Definitions.
For purposes of this Agreement:

 

(a)    “Change in
Control” means a change in control of the Company occurring after the Effective Date of a nature that would be required to
be reported in response to Item 6(e) of Schedule 14A of Regulation 14A (or in response to any similar item on any similar
schedule or form) promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), whether
or not the Company is then subject to such reporting requirement; provided, however, that, without limitation, such
a Change in Control shall be deemed to have occurred if, after the Effective Date (i) any “person” (as such term
is used in Sections 13(d) and 14(d) of the Exchange Act) is or becomes the “beneficial owner” (as defined in Rule 13d-3
under the Exchange Act), directly or indirectly, of securities of the Company representing 15% or more of the combined voting power
of all of the Company’s then-outstanding securities entitled to vote generally in the election of directors without the prior
approval of at least two-thirds of the members of the Board of Directors in office immediately prior to such person’s attaining
such percentage interest; (ii) the Company is a party to a merger, consolidation, sale of assets, plan of liquidation or other
reorganization not approved by at least two-thirds of the members of the Board of Directors then in office, as a consequence of
which members of the Board of Directors in office immediately prior to such transaction or event constitute less than a majority
of the Board of Directors thereafter; or (iii) at any time, a majority of the members of the Board of Directors are not individuals
(A) who were directors as of the Effective Date or (B) whose election by the Board of Directors or nomination for election by the
Company’s stockholders was approved by the affirmative vote of at least two-thirds of the directors then in office who were
directors as of the Effective Date or whose election or nomination for election was previously so approved;

 

    	 

    	 

    

(b)    “Corporate
Status” means the status of a person as a present or former director, officer, employee or agent of the Company or as a director,
trustee, officer, partner, manager, managing member, fiduciary, employee or agent of any other foreign or domestic corporation,
partnership, limited liability company, joint venture, trust, employee benefit plan or other enterprise that such person is or
was serving in such capacity at the request of the Company. As a clarification and without limiting the circumstances in which
the Indemnitee may be serving at the request of the Company, service by the Indemnitee shall be deemed to be at the request of
the Company: (i) if the Indemnitee serves or served as a director, trustee, officer, partner, manager, managing member, fiduciary,
employee or agent of any corporation, partnership, limited liability company, joint venture, trust or other enterprise (1) of which
a majority of the voting power or equity interest is owned directly or indirectly by the Company or (2) the management of which
is controlled directly or indirectly by the Company, or (ii) if, as a result of the Indemnitee’s service to the Company or
any of its affiliated entities, the Indemnitee is subject to duties by, or required to perform services for, an employee benefit
plan or its participants or beneficiaries, including as a deemed fiduciary thereof;

 

(c)    “Disinterested
Director” means a director of the Company who is not and was not a party to the Proceeding in respect of which indemnification
and/or advance of Expenses is sought by the Indemnitee;

 

(d)    “Effective
Date” means the date set forth in the first paragraph of this Agreement;

 

(e)    “Expenses”
means any and all reasonable and out-of-pocket attorneys’ fees and costs, retainers, court costs, transcript costs, fees
of experts, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery
service fees, federal, state, local or foreign taxes imposed on the Indemnitee as a result of the actual or deemed receipt of any
payments under this Agreement, ERISA excise taxes and penalties and any other disbursements or expenses incurred in connection
with prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing to be a witness in or otherwise
participating in a Proceeding. Expenses shall also include Expenses incurred in connection with any appeal resulting from any Proceeding
including, without limitation, the premium for, security for and other costs relating to any cost bond, supersedeas bond or other
appeal bond or its equivalent;

 

    	 

    	 

    

(f)    “Independent
Counsel” means a law firm, or a member of a law firm, that is experienced in matters of corporation law and neither is, nor
in the past five years has been, retained to represent: (i) the Company or the Indemnitee in any matter material to either
such party (other than with respect to matters concerning the Indemnitee under this Agreement or of other indemnitees under similar
indemnification agreements), or (ii) any other party to or participant or witness in the Proceeding giving rise to a claim
for indemnification or advance of Expenses hereunder. Notwithstanding the foregoing, the term “Independent Counsel”
shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict
of interest in representing either the Company or the Indemnitee in an action to determine the Indemnitee’s rights under
this Agreement; and

 

(g)    “Proceeding”
means any threatened, pending or completed action, suit, arbitration, alternate dispute resolution mechanism, investigation, inquiry,
administrative hearing or any other proceeding, whether brought by or in the right of the Company or otherwise and whether of a
civil (including intentional or unintentional tort claims), criminal, administrative or investigative (formal or informal) nature,
including any appeal therefrom, except one pending or completed on or before the Effective Date, unless otherwise specifically
agreed in writing by the Company and the Indemnitee or if it would have been covered by the Prior Agreement. If the Indemnitee
reasonably believes that a given situation may lead to or culminate in the institution of a Proceeding, such situation shall also
be considered a Proceeding.

 

Section 2.    Services
by the Indemnitee. In consideration of the Company’s covenants and commitments hereunder, the Indemnitee agrees to serve
as a director or officer of the Company. However, this Agreement shall not impose any independent obligation on the Indemnitee
or the Company to continue the Indemnitee’s service to the Company beyond any period otherwise required by law or by other
agreements or commitments of the parties, if any. This Agreement shall not be deemed an employment contract between the Company
(or any other entity) and the Indemnitee.

 

Section 3.    General.
The Company shall indemnify, and advance Expenses to, the Indemnitee (a) as provided in this Agreement and (b) as otherwise
to the maximum extent permitted by Maryland law in effect on the Effective Date and as amended from time to time; provided,
however, that no change in Maryland law shall have the effect of reducing the benefits available to the Indemnitee hereunder
based on Maryland law as in effect on the Effective Date. The rights of the Indemnitee provided in this Section 3 shall include,
without limitation, the rights set forth in the other sections of this Agreement, including any additional indemnification permitted
by Section 2-418(g) of the Maryland General Corporation Law (the “MGCL”).

 

Section 4.    Standard
for Indemnification. If, by reason of the Indemnitee’s Corporate Status, the Indemnitee is, or is threatened to be, made
a party to any Proceeding, the Company shall indemnify the Indemnitee against all judgments, penalties, fines and amounts paid
in settlement and all Expenses actually and reasonably incurred by the Indemnitee or on the Indemnitee’s behalf in connection
with any such Proceeding unless it is established by clear and convincing evidence that (a) the act or omission of the Indemnitee
was material to the matter giving rise to the Proceeding and (i) was committed in bad faith or (ii) was the result of
active and deliberate dishonesty, (b) the Indemnitee actually received an improper personal benefit in money, property or services
or (c) in the case of any criminal Proceeding, the Indemnitee had reasonable cause to believe that the act or omission of
the Indemnitee was unlawful.

 

    	 

    	 

    

Section 5.    Certain
Limits on Indemnification. Notwithstanding any other provision of this Agreement (other than Section 6), the Indemnitee shall
not be entitled to:

 

(a)    indemnification
hereunder if the Proceeding was one by or in the right of the Company and the Indemnitee is adjudged to be liable to the Company;

 

(b)    indemnification
hereunder if the Indemnitee is adjudged to be liable on the basis that personal benefit was improperly received in any Proceeding
charging improper personal benefit to the Indemnitee, whether or not involving action in the Indemnitee’s Corporate Status;
or

 

(c)    indemnification
or advance of Expenses hereunder if the Proceeding was brought by the Indemnitee, unless: (i) the Proceeding was brought to enforce
indemnification under this Agreement, and then only to the extent in accordance with and as authorized by Section 12 of this Agreement,
or (ii) the Company’s charter (the “Charter”) or the Bylaws, a resolution of the Board of Directors or an
agreement approved by the Board of Directors to which the Company is a party expressly provide otherwise.

 

Section 6.    Court-Ordered
Indemnification. Notwithstanding any other provision of this Agreement, a court of appropriate jurisdiction, upon application
of the Indemnitee and such notice as the court shall require, may order indemnification of the Indemnitee by the Company in the
following circumstances:

 

(a)    if such court determines
that the Indemnitee is entitled to reimbursement under Section 2-418(d)(1) of the MGCL, the court shall order indemnification,
in which case the Indemnitee shall be entitled to recover the Expenses of securing such reimbursement; or

 

(b)    if such court determines
that the Indemnitee is fairly and reasonably entitled to indemnification in view of all the relevant circumstances, whether or
not the Indemnitee (i) has met the standards of conduct set forth in Section 2-418(b) of the MGCL or (ii) has been adjudged
liable for receipt of an improper personal benefit under Section 2-418(c) of the MGCL, the court may order such indemnification
as the court shall deem proper. However, indemnification with respect to any Proceeding by or in the right of the Company or in
which liability shall have been adjudged in the circumstances described in Section 2-418(c) of the MGCL shall be limited to
Expenses.

 

    	 

    	 

    

Section 7.    Indemnification
for Expenses of an Indemnitee Who is Wholly or Partially Successful. Notwithstanding any other provision of this Agreement,
and without limiting any such provision, to the extent that the Indemnitee was or is, by reason of [his/her] Corporate Status,
made a party to (or otherwise becomes a participant in) any Proceeding and is successful, on the merits or otherwise, in the defense
of such Proceeding, the Indemnitee shall be indemnified for all Expenses actually and reasonably incurred by the Indemnitee or
on the Indemnitee’s behalf in connection therewith. If the Indemnitee is not wholly successful in such Proceeding but is
successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the Company
shall indemnify the Indemnitee under this Section 7 for all Expenses actually and reasonably incurred by the Indemnitee or on the
Indemnitee’s behalf in connection with each such claim, issue or matter, allocated on a reasonable and proportionate basis.
For purposes of this Section 7, and without limitation, the termination of any claim, issue or matter in such a Proceeding by dismissal,
with or without prejudice, shall be deemed to be a successful result as to such claim, issue or matter.

 

Section 8.    Advance
of Expenses for the Indemnitee. If, by reason of the Indemnitee’s Corporate Status, the Indemnitee is, or is threatened
to be, made a party to any Proceeding, the Company shall, without requiring a preliminary determination of the Indemnitee’s
ultimate entitlement to indemnification hereunder, advance all reasonable Expenses incurred by or on behalf of the Indemnitee in
connection with such Proceeding. Such advance or advances shall be made within ten business days after the receipt by the Company
of a statement or statements requesting such advance or advances from time to time, whether prior to or after final disposition
of such Proceeding, and may be in the form of, in the reasonable discretion of the Indemnitee (but without duplication) (a) payment
of such Expenses directly to third parties on behalf of the Indemnitee, (b) advancement to the Indemnitee of funds in an amount
sufficient to pay such Expenses or (c) reimbursement to the Indemnitee for the Indemnitee’s payment of such Expenses. Such
statement or statements shall reasonably evidence the Expenses incurred by the Indemnitee and shall include or be preceded or accompanied
by a written affirmation by the Indemnitee of the Indemnitee’s good faith belief that the standard of conduct necessary for
indemnification by the Company as authorized by law and by this Agreement has been met and a written undertaking by or on behalf
of the Indemnitee, in substantially the form attached hereto as Exhibit A or in such form as may be required under applicable
law as in effect at the time of the execution thereof, to reimburse the portion of any Expenses advanced to the Indemnitee relating
to claims, issues or matters in the Proceeding as to which it shall ultimately be established, by clear and convincing evidence,
that the standard of conduct has not been met by the Indemnitee and which have not been successfully resolved as described in Section
7 of this Agreement. To the extent that Expenses advanced to the Indemnitee do not relate to a specific claim, issue or matter
in the Proceeding, such Expenses shall be allocated on a reasonable and proportionate basis. The undertaking required by this Section
8 shall be an unlimited general obligation by or on behalf of the Indemnitee and shall be accepted without reference to the Indemnitee’s
financial ability to repay such advanced Expenses and without any requirement to post security therefor. 

 

    	 

    	 

    

Section 9.    Indemnification
and Advance of Expenses as a Witness or Other Participant. Notwithstanding any other provision of this Agreement, to the extent
that the Indemnitee is or may be, by reason of the Indemnitee’s Corporate Status, made a witness or otherwise asked to participate
in any Proceeding, whether instituted by the Company or any other party, and to which the Indemnitee is not a party, the Indemnitee
shall be advanced all reasonable Expenses and indemnified against all Expenses actually and reasonably incurred by the Indemnitee
or on the Indemnitee’s behalf in connection therewith within ten business days after the receipt by the Company of a statement
or statements requesting any such advance or indemnification from time to time, whether prior to or after final disposition of
such Proceeding. Such statement or statements shall reasonably evidence the Expenses incurred by the Indemnitee.

 

Section 10.    Procedure
for Determination of Entitlement to Indemnification.

 

(a)    To obtain indemnification
under this Agreement, the Indemnitee shall submit to the Company a written request, including therein or therewith such documentation
and information as is reasonably available to the Indemnitee and is reasonably necessary to determine whether and to what extent
the Indemnitee is entitled to indemnification. The Indemnitee may submit one or more such requests from time to time and at such
time(s) as the Indemnitee deems appropriate in the Indemnitee’s sole discretion. The officer of the Company receiving any
such request from the Indemnitee shall, promptly upon receipt of such a request for indemnification, advise the Board of Directors
in writing that the Indemnitee has requested indemnification.

 

(b)    Upon written request
by the Indemnitee for indemnification pursuant to Section 10(a) above, a determination, if required by applicable law, with
respect to the Indemnitee’s entitlement thereto shall promptly be made in the specific case: (i) if a Change in Control shall
have occurred, by Independent Counsel, in a written opinion to the Board of Directors, a copy of which shall be delivered to the
Indemnitee, which Independent Counsel shall be selected by the Indemnitee and approved by the Board of Directors in accordance
with Section 2-418(e)(2)(ii) of the MGCL, which approval shall not be unreasonably withheld; or (ii) if a Change in Control
shall not have occurred, (A) by the Board of Directors by a majority vote of a quorum consisting of Disinterested Directors or,
if such a quorum cannot be obtained, then by a majority vote of a duly authorized committee of the Board of Directors consisting
solely of one or more Disinterested Directors, (B) if Independent Counsel has been selected by the Board of Directors in accordance
with Section 2-418(e)(2)(ii) of the MGCL and approved by the Indemnitee, which approval shall not be unreasonably withheld, by
Independent Counsel, in a written opinion to the Board of Directors, a copy of which shall be delivered to the Indemnitee or (C)
if so directed by a majority of the members of the Board of Directors, by the stockholders of the Company. If it is so determined
that the Indemnitee is entitled to indemnification, payment to the Indemnitee shall be made within ten business days after such
determination. The Indemnitee shall cooperate with the person, persons or entity making such determination with respect to the
Indemnitee’s entitlement to indemnification, including providing to such person, persons or entity upon reasonable advance
request any documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably
available to the Indemnitee and reasonably necessary to such determination in the discretion of the Board of Directors or Independent
Counsel if retained pursuant to clause (ii)(B) of this Section 10(b). Any Expenses incurred by the Indemnitee in so cooperating
with the person, persons or entity making such determination shall be borne by the Company (irrespective of the determination as
to the Indemnitee’s entitlement to indemnification) and the Company shall indemnify and hold the Indemnitee harmless therefrom.

 

    	 

    	 

    

(c)    The Company shall
pay the reasonable fees and expenses of Independent Counsel, if one is appointed.

 

Section 11.    Presumptions
and Effect of Certain Proceedings.

 

(a)    In making any determination
with respect to entitlement to indemnification hereunder, the person or persons or entity making such determination shall presume
that the Indemnitee is entitled to indemnification under this Agreement if the Indemnitee has submitted a request for indemnification
in accordance with Section 10(a) of this Agreement, and the Company shall have the burden of proof to overcome that presumption
in connection with the making of any determination contrary to that presumption.

 

(b)    The termination
of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, upon a plea of nolo
contendere or its equivalent, or entry of an order of probation prior to judgment, does not create a presumption that the
Indemnitee did not meet the requisite standard of conduct described herein for indemnification.

 

(c)    The knowledge and/or
actions, or failure to act, of any other director, officer, employee or agent of the Company or any other director, trustee, officer,
partner, manager, managing member, fiduciary, employee or agent of any other foreign or domestic corporation, partnership, limited
liability company, joint venture, trust, employee benefit plan or other enterprise shall not be imputed to the Indemnitee for purposes
of determining any other right to indemnification under this Agreement.

 

    	 

    	 

    

Section 12.    Remedies
of the Indemnitee.

 

(a)    If (i) a determination
is made pursuant to Section 10(b) of this Agreement that the Indemnitee is not entitled to indemnification under this Agreement,
(ii) advance of Expenses is not timely made pursuant to Sections 8 or 9 of this Agreement, (iii) no determination of
entitlement to indemnification shall have been made pursuant to Section 10(b) of this Agreement within 60 days after receipt by
the Company of the request for indemnification, (iv) payment of indemnification is not made pursuant to Sections 7 or 9 of
this Agreement within ten business days after receipt by the Company of a written request therefor, or (v) payment of indemnification
pursuant to any other section of this Agreement or the Charter or Bylaws is not made within ten business days after a determination
has been made that the Indemnitee is entitled to indemnification, the Indemnitee shall be entitled to an adjudication in an appropriate
court located in the State of Maryland of the Indemnitee’s entitlement to such indemnification or advance of Expenses. Alternatively,
the Indemnitee, at the Indemnitee’s option, may seek an award in arbitration to be conducted by a single arbitrator pursuant
to the Commercial Arbitration Rules of the American Arbitration Association. The Indemnitee shall commence a proceeding seeking
an adjudication or an award in arbitration within 180 days following the date on which the Indemnitee first has the right to commence
such proceeding pursuant to this Section 12(a); provided, however, that the foregoing clause shall not apply
to a proceeding brought by the Indemnitee to enforce [his/her] rights under Section 7 of this Agreement. Except as set forth herein,
the provisions of Maryland law (without regard to its conflicts of laws rules) shall apply to any such arbitration. The Company
shall not oppose the Indemnitee’s right to seek any such adjudication or award in arbitration.

 

(b)    In any judicial
proceeding or arbitration commenced pursuant to this Section 12, the Indemnitee shall be presumed to be entitled to indemnification
or advance of Expenses, as the case may be, under this Agreement and the Company shall have the burden of proving that the Indemnitee
is not entitled to indemnification or advance of Expenses, as the case may be. If the Indemnitee commences a judicial proceeding
or arbitration pursuant to this Section 12, the Indemnitee shall not be required to reimburse the Company for any advances
pursuant to Section 8 of this Agreement until a final determination is made with respect to the Indemnitee’s entitlement
to indemnification (as to which all rights of appeal have been exhausted or lapsed). The Company shall, to the fullest extent not
prohibited by law, be precluded from asserting in any judicial proceeding or arbitration commenced pursuant to this Section 12
that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court
or before any such arbitrator that the Company is bound by all of the provisions of this Agreement.

 

(c)    If a determination
shall have been made pursuant to Section 10(b) of this Agreement that the Indemnitee is entitled to indemnification, the Company
shall be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Section 12, absent a
misstatement by the Indemnitee of a material fact, or an omission of a material fact necessary to make the Indemnitee’s statement
not materially misleading, in connection with the request for indemnification.

 

    	 

    	 

    

(d)    In the event that
the Indemnitee is successful in seeking, pursuant to this Section 12, a judicial adjudication of or an award in arbitration to
enforce the Indemnitee’s rights under, or to recover damages for breach of, this Agreement, the Indemnitee shall be entitled
to recover from the Company, and shall be indemnified by the Company for, any and all Expenses actually and reasonably incurred
by [him/her] in such judicial adjudication or arbitration. If it shall be determined in such judicial adjudication or arbitration
that the Indemnitee is entitled to receive part but not all of the indemnification or advance of Expenses sought, the Expenses
incurred by the Indemnitee in connection with such judicial adjudication or arbitration shall be appropriately prorated.

 

(e)    Interest shall
be paid by the Company to the Indemnitee at the maximum rate allowed to be charged for judgments under the Courts and Judicial
Proceedings Article of the Annotated Code of Maryland for amounts which the Company pays or is obligated to pay for the period
(i) commencing with either the tenth day after the date on which the Company was requested to advance Expenses in accordance
with Sections 8 or 9 of this Agreement or the 60th day after the date on which the Company was requested to make the
determination of entitlement to indemnification under Section 10(b) of this Agreement, as applicable, and (ii) ending on the
date such payment is made to the Indemnitee by the Company.

 

Section 13.    Defense
of the Underlying Proceeding.

 

(a)    The Indemnitee
shall notify the Company promptly in writing upon being served with any summons, citation, subpoena, complaint, indictment, request
or other document relating to any Proceeding which may result in the right to indemnification or the advance of Expenses hereunder
and shall include with such notice a description of the nature of the Proceeding and a summary of the facts underlying the Proceeding.
The failure to give any such notice shall not disqualify the Indemnitee from the right, or otherwise affect in any manner any right
of the Indemnitee, to indemnification or the advance of Expenses under this Agreement unless the Company’s ability to defend
in such Proceeding or to obtain proceeds under any insurance policy is materially and adversely prejudiced thereby, and then only
to the extent the Company is thereby actually so prejudiced.

 

(b)    Subject to the
provisions of the last sentence of this Section 13(b) and of Section 13(c) below, the Company shall have the right to
defend the Indemnitee in any Proceeding which may give rise to indemnification hereunder; provided, however, that
the Company shall notify the Indemnitee of any such decision to defend within 15 calendar days following receipt of notice of any
such Proceeding under Section 13(a) above. The Company shall not, without the prior written consent of the Indemnitee, which
shall not be unreasonably withheld or delayed, consent to the entry of any judgment against the Indemnitee or enter into any settlement
or compromise which (i) includes an admission of fault of the Indemnitee, (ii) does not include, as an unconditional
term thereof, the full release of the Indemnitee from all liability in respect of such Proceeding, which release shall be in form
and substance reasonably satisfactory to the Indemnitee or (iii) would impose any Expense, judgment, fine, penalty or limitation
on the Indemnitee. This Section 13(b) shall not apply to a Proceeding brought by the Indemnitee under Section 12 of this Agreement.

 

    	 

    	 

    

(c)    Notwithstanding
the provisions of Section 13(b) above, if in a Proceeding to which the Indemnitee is a party by reason of the Indemnitee’s
Corporate Status, (i) the Indemnitee reasonably concludes, based upon an opinion of counsel approved by the Company, which approval
shall not be unreasonably withheld, that the Indemnitee may have separate defenses or counterclaims to assert with respect to any
issue which may not be consistent with other defendants in such Proceeding, (ii) the Indemnitee reasonably concludes, based upon
an opinion of counsel approved by the Company, which approval shall not be unreasonably withheld, that an actual or apparent conflict
of interest or potential conflict of interest exists between the Indemnitee and the Company, or (iii) if the Company fails
to assume the defense of such Proceeding in a timely manner, the Indemnitee shall be entitled to be represented by separate legal
counsel of the Indemnitee’s choice, subject to the prior approval of the Company, which approval shall not be unreasonably
withheld, at the expense of the Company. In addition, if the Company fails to comply with any of its obligations under this Agreement
or in the event that the Company or any other person takes any action to declare this Agreement void or unenforceable, or institutes
any Proceeding to deny or to recover from the Indemnitee the benefits intended to be provided to the Indemnitee hereunder, the
Indemnitee shall have the right to retain counsel of the Indemnitee’s choice, subject to the prior approval of the Company,
which approval shall not be unreasonably withheld, at the expense of the Company (subject to Section 12(d) of this Agreement),
to represent the Indemnitee in connection with any such matter.

 

Section 14.    Representations
and Warranties of the Company. The Company hereby represents and warrants to the Indemnitee as follows:

 

(a) Authority. The Company has all
necessary corporate power and authority to enter into, and be bound by the terms of, this Agreement, and the execution, delivery
and performance of the undertakings contemplated by this Agreement have been duly authorized by the Company.

 

    	 

    	 

    

(b) Enforceability. This Agreement,
when executed and delivered by the Company in accordance with the provisions hereof, shall be a legal, valid and binding obligation
of the Company, enforceable against the Company in accordance with its terms, except as such enforceability may be limited by applicable
bankruptcy, insolvency, moratorium, reorganization or similar laws affecting the enforcement of creditors’ rights generally
or general equitable principles, and to the extent limited by applicable federal or state securities laws.

 

Section 15.    Insurance.

 

(a)    The Company will
use its reasonable best efforts to acquire directors and officers liability insurance, on terms and conditions deemed appropriate
by the Board of Directors, with the advice of counsel, covering the Indemnitee or any claim made against the Indemnitee by reason
of [his/her] Corporate Status and covering the Company for any indemnification or advance of Expenses made by the Company to the
Indemnitee for any claims made against the Indemnitee by reason of [his/her] Corporate Status. In the event of a Change in Control,
the Company shall maintain in force, any and all directors and officers liability insurance policies that were maintained by the
Company immediately prior to the Change in Control for a period of six years with the insurance carrier or carriers and through
the insurance broker in place at the time of the Change in Control; provided, however, (i) if the carriers will not
offer the same policy and an expiring policy needs to be replaced, a policy substantially comparable in scope and amount shall
be obtained and (ii) if any replacement insurance carrier is necessary to obtain a policy substantially comparable in scope and
amount, such insurance carrier shall have an AM Best rating that is the same or better than the AM Best rating of existing insurance
carrier; provided, further, however, in no event shall the Company be required to expend in the aggregate
in excess of 300% of the annual premium or premiums paid by the Company for directors and officers liability insurance in effect
on the date of the Change in Control. In the event that 300% of the annual premium paid by the Company for such existing directors
and officers liability insurance is insufficient for such coverage, the Company shall spend up to that amount to purchase such
lesser coverage as may be obtained with such amount.

 

(b)    Without in any
way limiting any other obligation under this Agreement, the Company shall indemnify the Indemnitee for any payment by the Indemnitee
arising out of the amount of any deductible or retention and the amount of any excess of the aggregate of all judgments, penalties,
fines, settlements and Expenses incurred by the Indemnitee in connection with a Proceeding over the coverage of any insurance referred
to in the previous sentence. The purchase, establishment and maintenance of any such insurance shall not in any way limit or affect
the rights or obligations of the Company or the Indemnitee under this Agreement except as expressly provided herein, and the execution
and delivery of this Agreement by the Company and the Indemnitee shall not in any way limit or affect the rights or obligations
of the Company under any such insurance policies. If, at the time the Company receives notice from any source of a Proceeding to
which the Indemnitee is a party or a participant (as a witness or otherwise), the Company has director and officer liability insurance
in effect, the Company shall give prompt notice of such Proceeding to the insurers in accordance with the procedures set forth
in the respective policies.

 

    	 

    	 

    

Section 16.    Fees
and Expenses. During the term of the Indemnitee’s service as a director or officer, the Company shall promptly reimburse
the Indemnitee for all expenses incurred by [him/her] in connection with [his/her] service as a director or officer or member of
any board committee or otherwise in connection with the Company’s business.

 

Section 17.    Non-Exclusivity;
Survival of Rights; Subrogation.

 

(a)    The rights of indemnification
and advance of Expenses as provided by this Agreement shall not be deemed exclusive of any other rights to which the Indemnitee
may at any time be entitled under applicable law, the Charter or Bylaws, a resolution of the stockholders entitled to vote generally
in the election of directors or of the Board of Directors, an agreement or otherwise. Unless consented to in writing by the Indemnitee,
no amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict any right of the Indemnitee
under this Agreement in respect of any action taken or omitted by the Indemnitee in [his/her] Corporate Status prior to such amendment,
alteration or repeal, regardless of whether a claim with respect to such action or inaction is raised prior or subsequent to such
amendment, alteration or repeal. No right or remedy herein conferred is intended to be exclusive of any other right or remedy,
and every other right or remedy shall be cumulative and in addition to every other right or remedy given hereunder or now or hereafter
existing at law or in equity or otherwise. The assertion of any right or remedy hereunder, or otherwise, shall not prohibit the
concurrent assertion or employment of any other right or remedy.

 

(b)    In the event of
any payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery
of the Indemnitee, who shall execute all papers required and take all action necessary to secure such rights, including execution
of such documents as are necessary to enable the Company to bring suit to enforce such rights.

 

Section 18.    Coordination
of Payments. The Company shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable or
payable or reimbursable as Expenses hereunder, if and to the extent that the Indemnitee has otherwise actually received such payment
under any insurance policy, contract, agreement or otherwise.

 

Section 19.    Contribution.
If the indemnification provided in this Agreement is unavailable in whole or in part and may not be paid to the Indemnitee for
any reason, other than for failure to satisfy the standard of conduct set forth in Section 4 or due to the provisions of Section
5, then, with respect to any Proceeding in which the Company is jointly liable with the Indemnitee (or would be if joined in such
Proceeding), to the fullest extent permissible under applicable law, the Company, in lieu of indemnifying and holding harmless
the Indemnitee, shall pay, in the first instance, the entire amount incurred by the Indemnitee, whether for Expenses, judgments,
penalties, and/or amounts paid or to be paid in settlement, in connection with any Proceeding without requiring the Indemnitee
to contribute to such payment, and the Company hereby waives and relinquishes any right of contribution it may have at any time
against the Indemnitee.

 

    	 

    	 

    

Section 20.    Reports
to Stockholders. To the extent required by the MGCL, the Company shall report in writing to its stockholders the payment of
any amounts for indemnification of, or advance of Expenses to, the Indemnitee under this Agreement arising out of a Proceeding
by or in the right of the Company with the notice of the meeting of stockholders of the Company next following the date of the
payment of any such indemnification or advance of Expenses or prior to such meeting.

 

Section 21.    Duration
of Agreement; Binding Effect.

 

(a)    This Agreement
shall continue until and terminate on the later of (i) the date that the Indemnitee shall have ceased to serve as a director, officer,
employee or agent of the Company or as a director, trustee, officer, partner, manager, managing member, fiduciary, employee or
agent of any other foreign or domestic corporation, real estate investment trust, partnership, limited liability company, joint
venture, trust, employee benefit plan or other enterprise that such person is or was serving in such capacity at the request of
the Company and (ii) the date that the Indemnitee is no longer subject to any actual or possible Proceeding (including any rights
of appeal thereto and any Proceeding commenced by the Indemnitee pursuant to Section 12 of this Agreement).

 

(b)    The indemnification
and advance of Expenses provided by, or granted pursuant to, this Agreement shall be binding upon and be enforceable by the parties
hereto and their respective successors and assigns (including any direct or indirect successor by purchase, merger, consolidation
or otherwise to all or substantially all of the business or assets of the Company), shall continue as to an Indemnitee who has
ceased to be a director, officer, employee or agent of the Company or a director, trustee, officer, partner, manager, managing
member, fiduciary, employee or agent of any other foreign or domestic corporation, partnership, limited liability company, joint
venture, trust, employee benefit plan or other enterprise that such person is or was serving in such capacity at the request of
the Company, and shall inure to the benefit of the Indemnitee and the Indemnitee’s spouse, assigns, heirs, devisees, executors
and administrators and other legal representatives.

 

    	 

    	 

    

(c)    The Company shall
require and cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise) to all, substantially
all or a substantial part, of the business and/or assets of the Company, by written agreement in form and substance satisfactory
to the Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Company
would be required to perform if no such succession had taken place.

 

(d)    The Company and
the Indemnitee agree that a monetary remedy for breach of this Agreement, at some later date, may be inadequate, impracticable
and difficult of proof, and further agree that such breach may cause the Indemnitee irreparable harm. Accordingly, the parties
hereto agree that the Indemnitee may enforce this Agreement by seeking injunctive relief and/or specific performance hereof, without
any necessity of showing actual damage or irreparable harm and that by seeking injunctive relief and/or specific performance, the
Indemnitee shall not be precluded from seeking or obtaining any other relief to which the Indemnitee may be entitled. The Indemnitee
shall further be entitled to such specific performance and injunctive relief, including temporary restraining orders, preliminary
injunctions and permanent injunctions, without the necessity of posting bonds or other undertakings in connection therewith. The
Company acknowledges that, in the absence of a waiver, a bond or undertaking may be required of the Indemnitee by a court, and
the Company hereby waives any such requirement of such a bond or undertaking.

 

Section 22.    Severability.
If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever:
(a) the validity, legality and enforceability of the remaining provisions of this Agreement (including, without limitation,
each portion of any Section, paragraph or sentence of this Agreement containing any such provision held to be invalid, illegal
or unenforceable that is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby and
shall remain enforceable to the fullest extent permitted by law; (b) such provision or provisions shall be deemed reformed
to the extent necessary to conform to applicable law and to give the maximum effect to the intent of the parties hereto; and (c) to
the fullest extent possible, the provisions of this Agreement (including, without limitation, each portion of any Section, paragraph
or sentence of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid,
illegal or unenforceable) shall be construed so as to give effect to the intent manifested thereby.

 

Section 23.    Headings.
The headings of the paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute part of
this Agreement or to affect the construction thereof.

 

    	 

    	 

    

Section 24.    Modification
and Waiver. No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by both
of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any
other provisions hereof (whether or not similar) nor shall such waiver constitute a continuing waiver.

 

Section 25.    Notices.
All notices, requests, demands and other communications hereunder shall be in writing and shall be deemed to have been duly given
if (i) delivered by hand and receipted for by the party to whom said notice or other communication shall have been directed,
on the day of such delivery, or (ii) mailed by certified or registered mail with postage prepaid, on the third business day
after the date on which it is so mailed:

 

(a)    If to the Indemnitee,
to the address set forth on the signature page hereto.

 

(b)    If to the Company,
to:

 

Brookfield DTLA Fund Office Trust Investor, Inc.

 

250 Vesey Street, 15th Floor

 

New York, New York 10281

 

Attn: [GENERAL COUNSEL]

 

or to such other address as may have been furnished in writing
to the Indemnitee by the Company or to the Company by the Indemnitee, as the case may be.

 

Section 26.    Governing
Law. This Agreement shall be governed by, and construed and enforced in accordance with, the laws of the State of Maryland,
without regard to its conflicts of laws rules.

 

Section 27.    Identical
Counterparts. This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to
be an original but all of which together shall constitute one and the same Agreement. One such counterpart signed by the party
against whom enforceability is sought shall be sufficient to evidence the existence of this Agreement.

 

    	 

    	 

    

IN WITNESS WHEREOF, the parties hereto have
executed this Agreement as of the day and year first above written.

 

Brookfield DTLA
Fund Office Trust Investor, Inc.

 

 

 

By: ________________________________

Name:    

Title:    

 

 

INDEMNITEE

 

 

 

____________________________________

 

Name:

Address:    

 

 

 

    	 

    	 

    

EXHIBIT A

 

AFFIRMATION AND UNDERTAKING TO REPAY EXPENSES
ADVANCED

 

To: The Board of Directors of Brookfield DTLA Fund Office Trust
Investor, Inc.

 

Re: Affirmation and Undertaking

 

Ladies and Gentlemen:

 

This Affirmation and Undertaking is being
provided pursuant to that certain Indemnification Agreement, dated as of [Execution Date], by and between Brookfield DTLA Fund
Office Trust Investor, Inc., a Maryland corporation (the “Company”), and the undersigned Indemnitee (the “Indemnification
Agreement”), pursuant to which I am entitled to an advance of Expenses in connection with [Description of Proceeding] (the
“Proceeding”).

 

Terms used herein and not otherwise defined
shall have the meanings specified in the Indemnification Agreement.

 

I am subject to the Proceeding by reason
of my Corporate Status or by reason of alleged actions or omissions by me in such capacity. I hereby affirm my good faith belief
that at all times, insofar as I was involved as a director or officer of the Company, in any of the facts or events giving rise
to the Proceeding, I (1) did not act with bad faith or active or deliberate dishonesty, (2) did not receive any improper
personal benefit in money, property or services and (3) in the case of any criminal proceeding, had no reasonable cause to
believe that any act or omission by me was unlawful.

 

In consideration of the advance of Expenses
by the Company for reasonable attorneys’ fees and related Expenses incurred by me in connection with the Proceeding (the
“Advanced Expenses”), I hereby agree that if, in connection with the Proceeding, it is established that (1) an
act or omission by me was material to the matter giving rise to the Proceeding and (a) was committed in bad faith or (b) was
the result of active and deliberate dishonesty or (2) I actually received an improper personal benefit in money, property
or services or (3) in the case of any criminal proceeding, I had reasonable cause to believe that the act or omission was
unlawful, then I shall promptly reimburse the portion of the Advanced Expenses relating to the claims, issues or matters in the
Proceeding as to which the foregoing findings have been established.

 

    	 

    	 

    

IN WITNESS WHEREOF, I have executed this
Affirmation and Undertaking on this _____ day of _______________, 20____.

 

 

 

 

 

_____________________________

 

Name:EIGHTH AMENDMENT TO LOAN AND SECURITY
AGREEMENT

AND OTHER LOAN DOCUMENTS

 

 

This EIGHTH AMENDMENT
TO LOAN AND SECURITY AGREEMENT AND OTHER LOAN DOCUMENTS (this “Amendment”) is made as of the 1st
day of November, 2013, by and among LTN ACQUISITION, LLC, a Delaware limited liability company (“LTN Acquisition”),
LTN STAFFING, LLC, a Delaware limited liability company, which intends to convert to a Delaware corporation named BG Staffing,
Inc. (“Company” or “BG Staffing, Inc.”), BG STAFFING, LLC, a Delaware limited liability company
(“BG Staffing, LLC”), BG PERSONNEL SERVICES, LP, a Texas limited partnership (“BG Personnel Services”),
BG PERSONNEL, LP, a Texas limited partnership (“BG Personnel”), and B G STAFF SERVICES INC., a Texas corporation
(“B G Staff Services”, and together with BG Staffing, Inc., BG Staffing, LLC, BG Personnel Services and BG Personnel,
collectively, “Borrowers” and each a “Borrower”), and FIFTH THIRD BANK, an Ohio banking corporation,
successor by merger with Fifth Third Bank, a Michigan banking corporation (“Lender”).

 

W I T N E S S E T H:

 

WHEREAS, Borrowers
and Lender are parties to that certain Loan and Security Agreement dated as of May 24, 2010, as amended from time to time (as amended,
and as it may be further amended, restated, modified or supplemented and in effect from time to time, the “Loan Agreement”);
and

 

WHEREAS, Borrowers
have advised Lender that the Company and LTN Acquisition intend to enter into the Reorganization Agreement (as defined herein)
whereby they will effect the following transactions on a mutually agreed upon date: (a) Company shall acquire LTN Acquisition through
a merger of LTN Acquisition with and into Company, with Company as the surviving company (the “Merger Transaction”),
(b) immediately following the Merger Transaction, Company shall convert from a Delaware limited liability company to a Delaware
corporation named BG Staffing, Inc. (the “Conversion Transaction,” and, with the Merger Transaction and the
other transactions contemplated by the Reorganization Agreement (as defined herein), the “Reorganization”),
and (c) Company shall file a registration statement with the SEC (as defined herein) to register certain of its securities under
the Securities Act of 1933, as amended, and upon such registration statement’s becoming effective, shall become a publicly
reporting company under the Exchange Act (as defined herein) (the “SEC Transaction”); and

 

WHEREAS, in addition,
Borrowers have advised Lender that the Company shall change its principal place of business from 14900 Landmark Boulevard, Suite
300, Dallas, TX 75254, to 5000 Legacy Drive, Suite 350, Plano, TX 75024 (the “Address Change Transaction”; and
together with the Reorganization and the SEC Transaction, collectively, the “Subject Transactions”); and

 

WHEREAS, Borrowers
have requested that Lender consent to the Subject Transactions and amend the Loan Agreement and the other Loan Documents in certain
respects, and Lender is agreeable to such request, on and subject to the terms and conditions set forth herein.

 

NOW, THEREFORE, the parties hereto hereby
agree as follows:

 

    	 

    	 

    

 

1. Definitions.
Capitalized terms used herein which are defined in the Loan Agreement and not otherwise defined herein are used with the meanings
given such terms in the Loan Agreement.

 

2. Amendments
to Loan Agreement. The Loan Agreement is hereby amended as follows:

 

(a) Section 1 is amended
to include the following two additional definitions in their respective proper numerical and alphabetical places therein:

 

  “Conversion Transaction” has the meaning given such term in the Eighth Amendment.

 

  “Eighth Amendment” shall mean that certain Eighth Amendment to Loan and Security Agreement and Other Loan Documents dated as of November 1, 2013 by and among Borrowers and Lender.

 

  “Merger Transaction” has the meaning given such term in the Eighth Amendment.

 

  “Reorganization” has the meaning given such term in the Eighth Amendment.

 

  “Reorganization Agreement” shall mean the Reorganization Agreement dated as of November 1, 2013 by and among LTN Acquisition, LLC and LTN Staffing, LLC, as amended and in effect from time to time, as approved by the members of LTN Acquisition, LLC.

 

(b) The Agreement
is further amended such that, from and after the consummation of the Merger Transaction, all references to the defined terms of
“Guarantor” or “Guaranty” shall be deleted.

 

(c) The Agreement
is further amended such that, from and after the date of consummation of the Conversion Transaction, all references to “LTN
Staffing, LLC” or the defined term of “LTN Staffing” as a “Borrower” or otherwise shall be deemed
to mean and refer to BG Staffing, Inc., a Delaware corporation.

 

(d) by inserting the
following definitions to Section 1.1 in their respective proper alphabetical order:

 

  “Exchange Act” shall mean the U.S. Securities Exchange Act of 1934, as amended.

 

  “SEC” shall mean the Securities and Exchange Commission.

 

(e) by amending and
restating the definition of “Change of Control” in Section 1.1 to read as follows upon the consummation of the
Conversion Transaction:

 

    	-2-

    	 

    

 

  “Change in Control” shall mean the occurrence of any of the following events: (a) the acquisition of ownership, directly or indirectly, beneficially or of record, by any Person or group (within the meaning of the Exchange Act and the rules of the SEC thereunder) of Capital Securities representing more than fifty percent (50%) of the aggregate ordinary voting power represented by the issued and outstanding Capital Securities of BG Staffing, Inc.; or (b) BG Staffing, Inc. shall cease to own and control, directly or indirectly, all of the outstanding Capital Securities of any of BG Staffing, BG Personnel Services, BG Personnel or B G Staff Services. For the purpose hereof, the terms “control” or “controlling” shall mean the possession of the power to direct, or cause the direction of, the management and policies of a Borrower by contract or voting of securities or ownership interests.

 

(f) by deleting, upon
the consummation of the Merger Transaction, the text following “(i)” only in the definition of “Pledge Agreements”
in Section 1.1 (with the remainder of the definition remaining unchanged).

 

(g) by inserting the
following as Section 7.27:

 

 7.27 Internal
Controls. From and after the consummation of the SEC Transaction:

 

(a) Borrowers
have established and shall maintain disclosure controls and procedures (as such term is defined in Rule 13a-14 under the Exchange
Act), which (i) are designed to ensure that material information relating to Borrowers is made known to Borrowers’ principal
executive officers and their principal financial officers or persons performing similar functions by others within those entities,
particularly during the periods in which the periodic reports required under the Exchange Act are being prepared; (ii) have been
evaluated for effectiveness as a date within ninety (90) days prior to the filing of Company’s most recent annual or quarterly
report filed with the SEC; and (iii) are effective in all material respects to perform the functions for which they were established;

 

(b) Based
on the evaluation of its disclosure controls and procedures, no Borrower is aware of (i) any significant deficiency in the design
or operation of internal controls which could adversely affect such Borrower’s ability to record, process, summarize and
report financial data or any material weaknesses in internal controls or (ii) any fraud, whether or not material, that involves
management or other employees who have a significant role in any Borrower’s internal controls; and

 

    	-3-

    	 

    

 

(c) Since
the date of the most recent evaluation of such disclosure controls and procedures, there have been no significant changes in internal
controls or in other factors that could significantly affect internal controls, including any corrective actions with regard to
significant deficiencies and material weaknesses.

 

 (d) Borrowers
and their Subsidiaries are in compliance with the requirements of all federal, state and local laws, rules and regulations applicable
to or pertaining to their property or business operations non-compliance with which, individually or in the aggregate, could reasonably
be expected to have a Material Adverse Effect.  Neither any Borrower nor any Subsidiary has received notice to the effect
that its operations are not in compliance with any of the requirements of applicable federal, state or local environmental, health
and safety statutes and regulations or are the subject of any governmental investigation evaluating whether any remedial action
is needed to respond to a release of any toxic or hazardous waste or substance into the environment, which non-compliance or remedial
action, individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect.

 

(h) Sections 8.8(a)
and (b) (with the remainder of Section 8.8 unchanged) are hereby amended and restated in their respective entireties
to read as follows:

 

 (a) (x)
promptly when available upon filing of the same with the SEC, a copy of the registration statement filed pursuant to the SEC Transaction
and each amendment thereto; and (y) promptly when available, in any event by not later than the earlier of (i) within one hundred
twenty (120) days after the close of each of its fiscal years, or (ii) the date of filing its annual report on Form 10-K with the
SEC, a copy of the annual audited financial statements of Borrowers, including consolidated balance sheet, statement of income
and retained earnings, statement of cash flows for the fiscal year then ended and such other information (including nonfinancial
information) as Lender may request, in reasonable detail, prepared and certified without adverse reference to going concern value
and without qualification by an independent auditor of recognized standing, selected by Borrowers and reasonably acceptable to
Lender; and

 

 (b) promptly
when available, and in any event, within thirty (30) days following the end of each month, provided that with respect to each March,
June, September and December, by not later than the earlier of (i) thirty (30) days following the end of such month, or (ii) the
date of filing each quarterly report on Form 10-Q with the SEC, a copy of the consolidated financial statements of Borrowers regarding
such month, including balance sheet, statement of income and retained earnings, statement of cash flows for the month then ended
and such other information (including nonfinancial information) as Lender may request, in reasonable detail, prepared and certified
as true and correct by Company’s treasurer or chief financial officer.

 

    	-4-

    	 

    

 

(i) Section 8.14
is hereby amended and restated in its entirety to read as follows:

 

 8.14 Other
Reports. Borrowers shall, promptly upon filing the same with the SEC, provide to Lender a copy of each report on Form 8-K,
each proxy statement and each other filing made by Company with the SEC. Borrowers shall also, within such period of time as Lender
may specify, deliver to Lender such other schedules and reports as Lender may require.

 

(j) by amending and
restating Section 9.5 to read as follows upon consummation of the Conversion Transaction:

 

 9.5 Issuance
of Capital Securities. No Borrower shall issue any Capital Securities other than (a) with respect to BG Staffing, Inc., Capital
Securities that by their terms do not require the periodic payment of cash or other property to the holders thereof, (b) with respect
to BG Staffing, Inc., issuance of shares of such Borrower’s Common Securities pursuant to any employee or director option
program, benefit plan or compensation program, or (c) any issuance of Capital Securities by a Subsidiary to such Borrower or another
Subsidiary in accordance with Section 9.6.

 

(k) by inserting the
following to the end of Section 9.6 upon the consummation of the Conversion Transaction: 

 

“Notwithstanding
anything to the contrary contained in this Section 9.6, (a) BG Staffing, Inc. may (i) pay annual director fees to each non-management
director in the ordinary course of business, (ii) declare and pay dividends in respect of its Capital Securities so long
as such dividends are in the form of the issuance of stock, warrants, options or other rights or interests (none of which shall
have any ‘put’ rights or be subject to mandatory redemption) and do not include cash or notes or other property of
BG Staffing, Inc., and (iii) pay cash in lieu of fractional shares in connection with any stock splits or reverse stock splits
of the Capital Securities of BG Staffing, Inc., and (b) a Borrower may make a distribution or dividend to another Borrower that
has granted a first perfected security interest in all of its assets in favor of Lender.

 

    	-5-

    	 

    

 

(l) by inserting the
following to the end of Section 9.7 upon consummation of the Conversion Transaction:

 

  “Notwithstanding the foregoing, director, officer and employee compensation (including bonuses and severance) and other benefits (including retirement, health, stock option and other benefit plans and indemnification arrangements) established by the Borrowers in good faith, including, but not limited to the directors fees described in Section 9.6, shall not be prohibited by this Section 9.7.

 

(m) Schedule 7.23
attached to the Loan Agreement is hereby deleted and replaced with the Schedule 7.23 attached to this Amendment.

 

3. Amendment
to the Other Loan Documents. The other Loan Documents are hereby amended to the extent necessary to be consistent with the
foregoing amendments to the Loan Agreement.

 

4. Release of
Guarantor. Upon the consummation of the Merger Transaction, Lender shall be deemed to have automatically released LTN Acquisition
from any and all obligations under that certain Continuing Unconditional Guaranty dated as of May 24, 2010 made by Guarantor in
favor of Lender, as amended, restated, modified or supplemented and in effect from time to time, guarantying the obligations of
Borrowers to Lender, at which time such Guaranty shall be of no further force or effect. Also upon consummation of the Merger Transaction,
that certain Membership Interests Security Agreement dated as of May 24, 2010 by and between Guarantor and the Lender shall be
terminated and of no further force and effect and the assignments, pledges and security interests created or granted thereby, including
Lender’ security interest in and pledge of outstanding capital stock or other equity interests of LTN Staffing, LLC, will
concurrently terminate and be of no further force or effect.

 

5. Consent to
Subject Transactions. Subject to the terms and conditions hereof, including, without limitation, the satisfaction of each of
the conditions set forth in Section 8 hereof and in the paragraph below, Lender hereby consents to the Subject Transactions. The
consent set forth herein shall be effective only in the specific instance and for the specific purpose
set forth herein and shall neither extend to any other violations under, or default of, the Loan Agreement or any of the other
Loan Documents, nor shall this consent prejudice any rights or remedies of Lender under the Loan Agreement or any of the other
Loan Documents with respect to matters not specifically addressed hereby.

 

Lender’s consent
shall be subject to the satisfaction of each of the following:

 

(i) Borrowers shall
deliver to Lender executed copies of all documents and resolutions evidencing and approving the Subject Transactions promptly upon
request by Lender, including, without limitation, the executed Reorganization Agreement and all schedules and exhibits thereto,

 

(ii)  promptly upon
their filing and adoption, as applicable, Borrowers shall deliver to Lender a Secretary’s Certificate in form and substance
acceptable to Lender, together with true, correct and complete copies of the Certificate of Merger, the Certificate of Conversion
and the Certificate of Incorporation, each as filed with the Delaware Secretary of State, evidencing the Merger Transaction and
the Conversion Transaction, a copy of the By-Laws of Company adopted pursuant to the Reorganization, an incumbency certificate
and a copy of the resolutions approving the Merger Transaction and the Conversion Transaction,

 

    	-6-

    	 

    

 

(iii) Company shall
deliver to Lender a true, correct and complete copy of the registration statement filed with the SEC and each amendment thereto,
promptly upon filing thereof,

 

(iv) promptly upon
consummation of the Reorganization, original replacement stock certificates and new undated stock powers executed in blank with
respect to the stock of B G Staff Services, reflecting “BG Staffing, Inc.” as the holder thereof, shall have been delivered
to Lender,

 

(v) within three
(3) business days following filing thereof, copies of the Certificate of Merger, the Certificate of Conversion and Company’s
Certificate of Incorporation, certified by the Delaware Secretary of State, and a good standing certificate for Company issued
by the Delaware Secretary of State, and

 

(vi) within thirty
(30) days following the Reorganization, evidence satisfactory to Lender that the Company has amended its qualification to do business
in Texas to reflect its change of name and conversion to a corporation pursuant to the Reorganization and a good standing certificate
for the Company under its new name issued by the Secretary of State of Texas.

 

Each Borrower hereby
acknowledges, agrees and consents to Lender filing such UCC-1 and UCC-3 amendment financing statements in connection with the Subject
Transactions as deemed necessary by Lender.

 

6. Reaffirmation
and Confirmation of Security Interests. Each Borrower hereby confirms to Lender that such Borrower has granted to Lender a
security interest in or Lien upon substantially all of the property of such Borrower, including, without limitation, the Collateral,
to secure the Obligations. Each Borrower hereby reaffirms its grant of such security interest and Lien to Lender for such purpose
in all respects.

 

In addition to the
foregoing:

 

(a) Company hereby
confirms to Lender that Company has granted to Lender a security interest in or Lien upon the Pledged Collateral (as defined in
that certain Membership Interests Security Agreement dated as of May 24, 2010 by and between Company and Lender (as amended, restated,
modified or supplemented and in effect from time to time, the “Membership Interests Security Agreement”)), to
secure the Liabilities (as defined in the Membership Interests Security Agreement), under and pursuant to the Membership Interests
Security Agreement. Company hereby expressly agrees that the Lien on the Pledged Collateral shall secure all of the Liabilities
(as defined in the Membership Interests Security Agreement), including, without limitation, the Loans, and hereby reaffirms its
grant of such security interest and Lien to Lender for such purpose in all respects. Company hereby further expressly agrees that
upon consummation of the Subject Transactions, the Lien on such Pledged Collateral shall continue to secure all of the Liabilities,
including, without limitation, the Loans.

 

    	-7-

    	 

    

 

(b) Company hereby
confirms to Lender that Company has granted to Lender a security interest in or Lien upon the Pledged Collateral (as defined in
that certain Partnership Interests Security Agreement dated as of May 24, 2010 by and between Company and Lender (as amended, restated,
modified or supplemented and in effect from time to time, the “Partnership Interests Security Agreement”)),
to secure the Liabilities (as defined in the Partnership Interests Security Agreement), under and pursuant to the Partnership Interests
Security Agreement. Company hereby expressly agrees that the Lien on the Pledged Collateral shall secure all of the Liabilities
(as defined in the Partnership Interests Security Agreement), including, without limitation, the Loans, and hereby reaffirms its
grant of such security interest and Lien to Lender for such purpose in all respects. Company hereby further expressly agrees that
upon consummation of the Subject Transactions, the Lien on such Pledged Collateral shall continue to secure all of the Liabilities,
including, without limitation, the Loans.

 

(c) BG Staffing,
LLC hereby confirms to Lender that BG Staffing, LLC has granted to Lender a security interest in or Lien upon the Pledged Collateral
(as defined in that certain Partnership Interests Security Agreement dated as of May 24, 2010 by and between BG Staffing, LLC and
Lender (as amended, restated, modified or supplemented and in effect from time to time, the “BG Staffing, LLC Partnership
Interests Security Agreement”)), to secure the Liabilities (as defined in the BG Staffing, LLC Partnership Interests
Security Agreement), under and pursuant to the BG Staffing, LLC Partnership Interests Security Agreement. BG Staffing, LLC hereby
expressly agrees that the Lien on the Pledged Collateral shall secure all of the Liabilities (as defined in the BG Staffing, LLC
Partnership Interests Security Agreement), including, without limitation, the Loans, and hereby reaffirms its grant of such security
interest and Lien to Lender for such purpose in all respects. BG Staffing hereby further expressly agrees that upon consummation
of the Subject Transactions, the Lien on such Pledged Collateral shall continue to secure all of the Liabilities, including, without
limitation, the Loans.

 

(d) Company hereby
confirms to Lender that Company has granted to Lender a security interest in or Lien upon the Pledged Collateral (as defined in
that certain Securities Pledge Agreement dated as of May 24, 2010 by and between Company and Lender (as amended, restated, modified
or supplemented and in effect from time to time, the “Securities Pledge Agreement”)), to secure the Liabilities
(as defined in the Securities Pledge Agreement), under and pursuant to the Securities Pledge Agreement. Company hereby expressly
agrees that the Lien on the Pledged Collateral shall secure all of the Liabilities (as defined in the Securities Pledge Agreement),
including, without limitation, the Loans, and hereby reaffirms its grant of such security interest and Lien to Lender for such
purpose in all respects. Company hereby further expressly agrees that upon consummation of the Subject Transactions, the Lien on
such Pledged Collateral shall continue to secure all of the Liabilities, including, without limitation, the Loans.

 

7. Representations
and Warranties. Each Borrower hereby represents, warrants and covenants to Lender that:

 

    	-8-

    	 

    

 

(a) Authorization.
Each Borrower is duly authorized to execute and deliver this Amendment and all deliveries required hereunder, and is and will continue
to be duly authorized to borrow monies under the Loan Agreement, as amended hereby, and to perform its obligations under the Loan
Agreement and the other Loan Documents.

 

(b) No Conflicts.
The execution and delivery of this Amendment and all deliveries required hereunder, and the performance by each Borrower of its
obligations under the Loan Agreement and the other Loan Documents do not and will not conflict with any provision of law or of
the charter or by-laws, operating agreement or partnership agreement of any Borrower or of any agreement binding upon any Borrower.

 

(c) Validity and
Binding Effect. This Amendment, the Loan Agreement and the other Loan Documents are a legal, valid and binding obligation of
each Borrower, enforceable against such Borrower in accordance with their respective terms, except as enforceability may be limited
by bankruptcy, insolvency or other similar laws of general application affecting the enforcement of creditors’ rights or
by general principles of equity limiting the availability of equitable remedies.

 

(d) No Events of
Default. As of the date hereof, no default or Event of Default under the Loan Agreement or any of the other Loan Documents
has occurred or is continuing.

 

(e) Warranties.
As of the date hereof, the representations and warranties in the Loan Agreement and the other Loan Documents are true and correct
in all material respects as though made on such date, except where a different date is specifically indicated.

 

8. Conditions
to Effectiveness. This Amendment shall be deemed to be effective as of the date hereof (the “Amendment Effective Date”),
and the effectiveness of this Amendment shall be subject to, the satisfaction of all of the following conditions:

 

(a) This Amendment,
duly authorized and fully executed by each Borrower and Lender, and the Consent and Ratification of Capital Contribution Agreements
and the Consent and Ratification of Subordination Agreement, each attached hereto and made a part hereof, each duly authorized
and fully executed by the parties thereto, shall have been delivered to Lender.

 

(b) That certain Sixth
Amendment to Subordination and Intercreditor Agreement dated as of even date herewith, in form and substance acceptable to Lender,
duly authorized and fully executed by each of the 2007 Subordinated Creditors and Borrowers, shall have been delivered to Lender.

 

(c) That certain First
Amendment to Amended and Restated Securities Purchase Agreement dated as of even date herewith by and among the 2007 Subordinated
Creditors and Borrowers, including evidence that the 2007 Subordinated Creditors have consented to the Subject Transactions, in
each case in form and substance acceptable to Lender.

 

    	-9-

    	 

    

 

(d) Such other documents,
instruments or agreements as Lender may reasonably request in order to effectuate fully the transactions contemplated herein shall
have been duly executed and delivered to Lender.

 

9. Opinion Letter.
Each Borrower hereby covenants and agrees that in the event there are any future amendments to, modifications of, or any amendment
and restatements of, the Loan Agreement or any of the other Loan Documents, such Borrower shall cause to be delivered to Lender
in connection therewith an opinion letter from Borrowers’ counsel (including local Illinois counsel), in form and substance
acceptable to Lender; provided, however, nothing herein shall be construed in any way as an agreement, intention,
proposal or commitment by Lender, nor shall anything set forth herein bind Lender in any way, to amend, modify or amend and restate
the Loan Agreement or any of the other Loan Documents at any time in the future in any respect.

 

10. Costs and
Expenses. Borrowers shall jointly and severally pay all costs and expenses in connection with the preparation of this Amendment
and other related loan documents, including, without limitation, reasonable attorneys’ fees.

 

11. Further Assurances.
Each Borrower shall take such actions as are necessary or as Lender may reasonably request from time to time to ensure that the
Obligations under the Loan Documents are secured by substantially all of the assets of such Borrower, in each case as Lender may
determine, including (a) the execution and delivery of security agreements, pledge agreements, mortgages, deeds of trust, financing
statements and other documents, and the filing or recording of any of the foregoing, and (b) the delivery of certificated securities
and other collateral with respect to which perfection is obtained by possession.

 

12. Miscellaneous.

 

(a) Recitals; Captions.
The WHEREAS clauses at the beginning of this Amendment are part of this Amendment. Section captions and headings used in this Amendment
are for convenience only and are not part of and shall not affect the construction of this Amendment.

 

(b) Governing Law.
This Amendment shall be a contract made under and governed by the laws of the State of Illinois, without regard to conflict of
laws principles. Whenever possible, each provision of this Amendment shall be interpreted in such a manner as to be effective and
valid under applicable law, but if any provision of this Amendment shall be prohibited by or invalid under such law, such provision
shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the
remaining provisions of this Amendment.

 

(c) Counterparts.
This Amendment may be executed in one or more counterparts, each of which shall be deemed to be an original, but all of which shall
together constitute but one and the same document.

 

(d) Successors
and Assigns. This Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors
and assigns.

 

    	-10-

    	 

    

 

(e) References.
From and after the Amendment Effective Date, any reference to the Loan Agreement or the other Loan Documents contained in any notice,
request, certificate or other instrument, document or agreement executed concurrently with or after the execution and delivery
of this Amendment shall be deemed to include this Amendment unless the context shall otherwise require.

 

(f) Continued Effectiveness.
Notwithstanding anything contained herein, the terms of this Amendment are not intended to and do not serve to effect a novation
as to the Loan Agreement. The parties hereto expressly do not intend to extinguish the Loan Agreement. Instead, it is the express
intention of the parties hereto to reaffirm the indebtedness created under the Loan Agreement and secured by the Collateral. The
Loan Agreement and each of the other Loan Documents, except as modified hereby, remain in full force and effect and are hereby
reaffirmed in all respects.

 

(g) Customer Identification
- USA Patriot Act Notice; OFAC and Bank Secrecy Act. Lender hereby notifies each Borrower that pursuant to the requirements
of the USA Patriot Act (Title III of Pub. L. 107-56, signed into law October 26, 2001) (the “Act”), and Lender’s
policies and practices, Lender is required to obtain, verify and record certain information and documentation that identifies such
Borrower, which information includes the name and address of such Borrower and such other information that will allow Lender to
identify such Borrower in accordance with the Act. In addition, each Borrower shall (a) ensure that no person who owns a controlling
interest in or otherwise controls such Borrower or any subsidiary of such Borrower is or shall be listed on the Specially Designated
Nationals and Blocked Person List or other similar lists maintained by the Office of Foreign Assets Control (“OFAC”),
the Department of the Treasury or included in any Executive Orders, (b) not use or permit the use of the proceeds of the Loan to
violate any of the foreign asset control regulations of OFAC or any enabling statute or Executive Order relating thereto, and (c)
comply, and cause any of its subsidiaries to comply, with all applicable Bank Secrecy Act (“BSA”) laws and regulations,
as amended.

 

[Remainder
of page intentionally left blank; signature pages follow]

 

 

 

    	-11-

    	 

    

 

IN WITNESS WHEREOF,
the parties have executed this Eighth Amendment to Loan and Security Agreement and Other Loan Documents as of the date first set
forth above.

 

 

	 	LTN ACQUISITION:
	 	 
	 	LTN ACQUISITION, LLC, a Delaware limited liability company
	 	 
	 	 
	 	By: 	/s/ L. Allen Baker, Jr.
	 	Name:	L. Allen Baker, Jr.
	 	Title:	Manager and Authorized Person
	 	 	 
	 	 	 
	 	BORROWERS:
	 	 	 
	 	LTN STAFFING, LLC, a Delaware limited liability company,
        which intends to convert to a Delaware corporation named BG Staffing, Inc., a Delaware corporation
	 	 	 
	 	 	 
	 	By:	/s/ L. Allen Baker, Jr.
	 	Name:	L. Allen Baker, Jr.
	 	Title:	President and Chief Executive Officer
	 	 	 

 

	 	BG STAFFING, LLC, a Delaware limited liability company
	 	 
	 	By: 	LTN Staffing, LLC, a Delaware limited liability company
	 	 	 	 
	 	Its:	Sole Member
	 	 	 	 
	 	 	 	 
	 	 	By:	/s/ L. Allen Baker, Jr.
	 	 	Name:	L. Allen Baker, Jr.
	 	 	Title:	President and
        Chief Executive Officer

 

    	 

    	 

    

 

	 	BG PERSONNEL SERVICES, LP, a Texas limited partnership
	 	 
	 	By: 	BG Staffing, LLC, a
        Delaware limited liability company
	 	 	 	 	 
	 	Its:	General Partner
	 	 	 	 	 
	 	 	By:	LTN
        Staffing, LLC, a Delaware limited liability company
	 	 	 	 
	 	 	Its:	Sole
        Member
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	By:	/s/ L. Allen Baker, Jr.
	 	 	 	Name:	L. Allen Baker, Jr.
	 	 	 	Title:	President and
        Chief Executive Officer

 

 

	 	BG PERSONNEL, LP, a Texas limited partnership
	 	 
	 	By: 	BG Staffing, LLC, a
        Delaware limited liability company
	 	 	 	 	 
	 	Its:	General Partner
	 	 	 	 	 
	 	 	By:	LTN
        Staffing, LLC, a Delaware limited liability company
	 	 	 	 
	 	 	Its:	Sole
        Member
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	By:	/s/ L. Allen Baker, Jr.
	 	 	 	Name:	L. Allen Baker, Jr.
	 	 	 	Title:	President and
        Chief Executive Officer

 

 

	 	B G STAFF SERVICES INC., a Texas corporation
	 	 
	 	 
	 	By: 	/s/ L. Allen Baker, Jr.
	 	Name:	L. Allen Baker, Jr.
	 	Title:	President and Chief Executive Officer

 

    	 

    	 

    

 

	 	LENDER:
	 	 
	 	FIFTH THIRD BANK, an Ohio banking corporation, successor
        by merger with Fifth Third Bank, a Michigan banking corporation
	 	 
	 	 
	 	By: 	/s/ Ingrid H. Deroubaix
	 	Name:	Ingrid H. Deroubaix
	 	Title:	Senior Vice President

 

    	 

    	 

    

 

SCHEDULE 7.23

 

Place of Business

 

5000
Legacy Drive

Suite 350

Plano, TX 75024

 

Cross Building

7718 Woodhollow Drive

Suite G30

Austin, TX 78731

 

Corporate Office Centers

Bank of America Center

2000 E. Lamar Blvd.

Suite 600

Arlington, TX 76006

 

The Atrium Office Building

85 NE Loop 410

Suite 206

San Antonio, TX 78216

 

Fountainview Place

2650 Fountainview

Suite 300

Houston, TX 77057

 

909 Belvidere Rd

Waukegan, IL 60085

 

546 West Mitchell Street

Milwaukee, Wisconsin 53204

 

1900 Oates Drive

Suite 134

Mesquite, Texas  75150

 

    	 

    	 

    

 

Consent
and ratification OF CAPITAL CONTRIBUTION AGREEMENTS

 

The undersigned (“Obligor”)
is the obligor under the terms of (i) that certain Capital Contribution Agreement dated as of November 21, 2011 by and among Obligor,
Borrowers and Lender (as amended, restated, modified or supplemented and in effect from time to time, the “Extrinsic Capital
Contribution Agreement”), (ii) that certain Capital Contribution Agreement dated as of December 3, 2012 by and among
Obligor, Borrowers and Lender (as amended, restated, modified or supplemented and in effect from time to time, the “API
Capital Contribution Agreement”), and (iii) that certain Capital Contribution Agreement dated as of May 28, 2013 by and
among Obligor, Borrowers and Lender (as amended, restated, modified or supplemented and in effect from time to time, the “InStaff
Capital Contribution Agreement”, and together with the Extrinsic Capital Contribution Agreement and the API Capital Contribution
Agreement, collectively, the “Contribution Agreements”). Obligor hereby expressly: (a) consents to the execution
by Borrowers and Lender of the above Eighth Amendment to Loan and Security Agreement and Other Loan Documents; (b) acknowledges
and agrees that from and after the consummation of the Conversion Transaction, all references to “LTN Staffing, LLC”
or the defined term of “LTN Staffing” as a “Borrower” in each of the Contribution Agreements is hereby
replaced with and shall mean “BG Staffing, Inc.”; (c) reaffirms, assumes and binds itself in all respects to all of
the obligations, liabilities, duties, covenants, terms and conditions that are contained in the Contribution Agreements; and (d)
agrees that all such obligations and liabilities under the Contribution Agreements shall continue in full force and that the execution
and delivery of the above Eighth Amendment to Loan and Security Agreement and Other Loan Documents to, and its acceptance by, Lender
shall not in any manner whatsoever (i) impair or affect the liability of Obligor to Lender under any of the Contribution Agreements,
(ii) prejudice, waive, or be construed to impair, affect, prejudice or waive the rights and abilities of Lender at law, in equity
or by statute, against Obligor pursuant to the Contribution Agreements, and/or (iii) release or discharge, nor be construed to
release or discharge, any of the obligations and liabilities owing to Lender by Obligor under the Contribution Agreements.

 

	 	TAGLICH PRIVATE EQUITY, LLC
	 	 
	 	 
	 	By: 	/s/ Douglas E. Hailey
	 	Name:	Douglas E. Hailey
	 	Title:	Managing Member

 

    	 

    	 

    

 

Consent
and ratification OF

SUBORDINATION
AGREEMENT

 

Each of the undersigned
(collectively, “Subordinated Creditors” and each a “Subordinated Creditor”), is a subordinated
creditor to Borrower and entered into that certain Subordination and Intercreditor Agreement dated as of October 17, 2007 by and
among Lender, Subordinated Creditors, Borrowers and Guarantor, as amended from time to time (as amended, restated, modified or
supplemented and in effect from time to time, the “Subordination Agreement”). Each Subordinated Creditor hereby
(a) consents to the execution by Borrowers and Lender of the above Eighth Amendment to Loan and Security Agreement and Other Loan
Documents; (b) acknowledges and agrees that from and after the consummation of the Conversion Transaction, all references to “LTN
Staffing, LLC” or the defined term of “LTN Staffing” as a “Borrower” in the Subordination Agreement
is hereby replaced with and shall mean “BG Staffing, Inc.”; (c) acknowledges that the “Senior Debt” (as
defined in the Subordination Agreement) includes all of the obligations and liabilities owing from time to time by Borrowers to
Lender, including, without limitation, the Obligations (which include the increased Revolving Loans and the Term Loan); (d) acknowledges
that the “Subordinated Debt” (as defined in the Subordination Agreement) and any liens and security interests of Subordinated
Creditors in the Collateral (as defined in the Subordination Agreement) shall remain subordinate to the “Senior Debt”
and the liens and security interests of Lender in the Collateral; (e) acknowledges that no Subordinated Creditor has any set-off,
defense or counterclaim to the payment or performance of any of the obligations of such Subordinated Creditor under the Subordination
Agreement; (f) reaffirms, assumes and binds itself in all respects to all of the obligations, liabilities, duties, covenants, terms
and conditions that are contained in the Subordination Agreement; (g) agrees that all such obligations and liabilities under the
Subordination Agreement shall continue in full force and effect and shall not be discharged, limited, impaired or affected in any
manner whatsoever; and (h) represents and warrants that each of the representations and warranties made by such Subordinated Creditor
in any of the documents executed in connection with the Loans remain true and correct as of the date hereof.

 

	 	SUBORDINATED CREDITORS:
	 	 
	 	LEGG MASON SBIC MEZZANINE FUND, L.P., a Delaware limited partnership
	 	 
	 	By: 	Legg Mason SBIC Mezzanine
        Fund Management, LLC
	 	 	 	 
	 	Its:	General Partner
	 	 	 	 
	 	 	 	 
	 	 	By:	/s/ Andrew L. John
	 	 	Name:	Andrew L. John
	 	 	Its:	Member

 

    	 

    	 

    

 

	 	 
	 	BROOKSIDE PECKS CAPITAL PARTNERS, L.P., a Delaware limited partnership
	 	 
	 	By: 	Brookside Pecks Management,
        LLC
	 	 	 	 
	 	Its:	General Partner
	 	 	 	 
	 	 	 	 
	 	 	By:	/s/ David Buttlow
	 	 	Name:	David Buttlow
	 	 	Its:	Managing Director

 

	 	 
	 	BROOKSIDE MEZZANINE FUND II, L.P., a Delaware limited partnership
	 	 
	 	By: 	Brookside Mezzanine Partners II, LLC
	 	 	 	 
	 	Its:	General Partner
	 	 	 	 
	 	 	 	 
	 	 	By:	/s/ Corey Sclar
	 	 	Name:	Corey Sclar
	 	 	Its:	Managing Director

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