Document:

Exhibit 10.2

 

 

SEPARATION AND GENERAL RELEASE AGREEMENT 

 

This SEPARATION AND GENERAL RELEASE AGREEMENT (“Agreement”)
is made and entered into by and between Crystal Rock Holdings, Inc. (the “Company”) and John B. Baker (“Executive”).
Executive and the Company shall be referred to herein as the “Parties” or, each separately, a “Party.”

 

WHEREAS, Executive is employed by the Company pursuant to a November
1, 2016 Employment Agreement (the “Employment Agreement”);

 

WHEREAS, the Company has entered into that certain agreement and
plan of merger, dated as of the date hereof, pursuant to which, subject to the terms and conditions thereof, CR Merger Sub, Inc.
(the “Merger Sub”), an indirect subsidiary of Cott Corporation, shall merge with and into the Company, with the Company
as the surviving entity (the “Transaction”); and

 

WHEREAS, the Company and Executive have mutually agreed that Executive’s
employment shall terminate immediately prior to the closing of the Transaction (the “Closing Date”), pursuant to the
terms set forth herein, and this Agreement shall satisfy any notice requirements related to such separation.

 

NOW, THEREFORE, for good and valuable consideration, receipt of which
is hereby acknowledged, and fully intending to be legally bound hereby, Executive and the Company AGREE as follows:

 

1.                 
Date of Termination. Executive’s employment with the Company shall permanently and irrevocably terminate as
of the Closing Date (the “Date of Termination”). Such termination shall be considered a Termination by Company Without
Cause pursuant to Section 2.2.5 of the Employment Agreement. As of the Date of Termination, Executive shall be deemed to have relinquished
and resigned from all titles and positions of any nature that Executive holds or has ever held with the Company, its affiliates
and subsidiaries, or any other entity with respect to which the Company has requested Executive to perform services, to the extent
he ever held such titles and positions.

 

2.                 
Separation Benefits. In consideration of this Agreement, if Executive signs this Agreement within the 21-day consideration
period described in Section 12 below and does not revoke this Agreement during the seven-day revocation period described in Section
12 (such consideration and revocation period, the “Agreement Execution Period”), the Company shall provide Executive
with the compensation and benefits set forth in Section 2.2.5 of the Employment Agreement, pursuant to the terms provided in such
Section. Notwithstanding the foregoing, in no event shall the Company commence making the payments and providing the benefits contemplated
in this Section 2 prior to the conclusion of the Agreement Execution Period.

 

3.                 
Return of Documents and Things. Executive shall promptly deliver to the Company any and all of the Company’s
property in his possession, custody, or control, as provided in Section 4.3 of the Employment Agreement, including the automobile
referenced in Section 3.6 of the Employment Agreement.

 

    

     

    

4.                 
Representations and Warranties. The Company shall, on the first regular pay date occurring after the Date of Termination,
pay Executive (a) any yet unpaid base salary from the pay period in which the Date of Termination falls, (b) reimburse Executive
for any yet unreimbursed expenses (to the extent reimbursable under applicable Company policy and provided Executive has provided
all required supporting paperwork), and (c) pay Executive for any accrued, unused vacation days that he has as of the Date of Termination
(together, the “Accrued Payments”), in each case pursuant to its normal pay practices. Executive acknowledges, represents
and warrants that, other than the Accrued Payments, he has received payment in full of all of the compensation, benefits and/or
payments of any kind due him from the Company and its affiliates and subsidiaries (or any of them), including all wages, bonuses,
equity, expense reimbursements, payments to benefit plans, and any other payment under a plan, program, practice, promise, or arrangement
of the Company and its subsidiaries and affiliates. Executive understands and agrees that, except as provided herein, he is not
entitled to any additional compensation or benefits from the Company or any of the other Released Entities (as defined below),
including severance or separation payments, whether under the Employment Agreement or otherwise.

 

5.                 
Release. As a condition to the Company’s obligation to pay or provide termination payments and benefits set
forth in Section 2 above, Executive irrevocably and unconditionally releases, acquits and forever discharges the Company and the
Merger Sub; their affiliated and related corporations and entities; each of all such entities’ predecessors and successors;
and each of their respective agents, directors, officers, trustees, attorneys, present and former employees, representatives, and
related entities (collectively, the “Released Entities”) from any and all charges, complaints, claims, liabilities,
obligations, promises, agreements, controversies, damages, actions, causes of action, suits, rights, demands, costs, losses, damages
and expenses (including attorneys’ fees and costs actually incurred) arising out of or in connection with his employment
with or termination from the Company, which Executive now has, owns or holds, or claims to have, own or hold, or which at any time
heretofore, had owned or held, or claimed to have owned or held, or which Executive at any time hereafter may have, own or hold,
or claim to have owned or held against the Released Entities, based upon, arising out of or in connection with his employment with
or termination from the Company up to the date of this Agreement, including but not limited to, claims or rights under any federal,
state, or local statutory and/or common law in any way regulating or affecting the employment relationship, including but not limited
to Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act, the Age Discrimination in Employment Act and
any other federal, state, local statutory and/or common law regulating or affecting the employment relationship. Executive acknowledges
and understands that the payment and benefits to be provided to Executive pursuant to Section 2 above constitute a full, fair and
complete payment for the release and waiver of all of Executive’s possible claims arising out of or in connection with his
employment with or termination from the Company. This Release does not preclude Executive from filing a charge of discrimination
with, or participating in or cooperating with an investigation by, the United States Equal Employment Opportunity Commission or
the Connecticut Human Rights Commission, but Executive will not be entitled to, and he expressly agrees to waive, any monetary
or other relief on the basis of or in connection with such charge or investigation, including related court litigation. Nothing
in this Release prohibits, or is intended in any manner to prohibit, Executive from engaging in any of the “Protected Activities”
set forth in Section 4.2.2 of the Employment Agreement.

 

    	 	-2-	 

     

    

6.                 
No Other Claims or Proceedings. Executive warrants, covenants, and represents that he has not heretofore assigned
or transferred or purported to assign or transfer to any person any of the claims released in this Agreement. Executive also warrants,
covenants, and represents that, as of the date of his execution of this Agreement, neither he nor anyone acting on his behalf has
made or filed any lawsuit, complaint, charge, action or proceeding against any Released Entities with any federal, state, or local
court, agency or authority, or any other regulatory authority.

 

7.                 
Non-Disparagement. Subject to Section 13 below, during the 24-month period immediately following the Date of Termination,
Executive shall not, at any time in the future, disparage or otherwise make statements, electronic, oral or written, with the intent
to affect adversely the reputation of the Company or any of the other Released Entities, including to actual or potential customers
of the Company or its affiliates, Company vendors or other business partners, the press, or on social media. During the 24-month
period immediately following the Date of Termination, the Company’s senior management team, while employed by the Company,
shall not disparage or otherwise make statements, electronic, oral or written, with the intent to affect adversely Executive’s
reputation, including to actual or potential customers of the Company or its affiliates, Company vendors or other business partners,
the press, or on social media. Notwithstanding the foregoing, this Section shall not prohibit any person or entity from making
truthful statements as required by applicable law (e.g., in response to a subpoena or where otherwise compelled to testify), nor
shall it prevent the Company from communicating with its attorneys or advisors, or from making internal statements for legitimate
business purposes.

 

8.                 
Cooperation. At all times in the future, Executive will provide reasonable cooperation to the Company with regard
to legal, administrative, and other matters with which he was involved while employed by the Company. The Company agrees to use
reasonable efforts to schedule and limit the need for Executive’s cooperation so as to avoid interfering with his personal
and other professional obligations. Executive shall be reimbursed for all reasonable expenses incurred by him in providing such
cooperation.

 

9.                 
Restrictive Covenants. Executive reaffirms, and shall remain bound by, his post-separation obligations as set forth
in the Employment Agreement, including Section 4 thereof, except that Section 4.4 of the Employment Agreement is deleted in its
entirety and replaced with the following:

 

    	 	-3-	 

     

    

Non-Competition. During the 12-month period immediately following the
Date of Termination, Executive shall not, without the prior written permission of the Company, (i) within Connecticut, Massachusetts,
New Hampshire, New York, Rhode Island, or Vermont; any other area of the United States in which the Company operates; or the remainder
of the United States, its territories and possessions, directly or indirectly, engage in any activity or business that is the same
or substantially similar to the work performed by Executive for the Company and/or of the same substantive competency or nature
as the work performed by Executive for the Company, whether or not such engagement is as a consultant, independent contractor,
agent, employee, officer, partner, director or otherwise, alone or for his own account or in association with any other person,
corporation or other entity, for any Competitive Business (as defined below); provided, however, that Executive shall be deemed
to be acting “within” the above territories, even if physically outside of the territories, if Executive’s activities
assist the Competitive Business within the territories; (ii) directly or indirectly, hire or attempt to hire any person who is
employed or retained by the Company or its affiliates (or was so employed within the immediately prior three months), or solicit,
entice or encourage any such person to terminate his or her relationship with the Company; or (iii) solicit for a competitive purpose,
interfere with the Company’s relationship with, or endeavor to entice away from the Company or its affiliates any of their
customers or sources of supply. However, nothing in this Agreement shall preclude Executive from investing his personal assets
in the securities of any Competitive Business if such securities are traded on a national stock exchange and if such investment
does not result in his beneficially owning, at any time, more than 1.0% of the publicly-traded equity securities of such competitor.
“Competitive Business” shall mean any business or enterprise which (a) designs, sells, manufactures, markets and/or
distributes still or sparkling spring or purified bottled water products or non-alcoholic beverages, or office refreshment products,
including coffee, in the home and office market, or (b) competes or is planning to compete with any other business in which the
Company or its subsidiaries is involved at any time during the 12-month period immediately prior to the Date of Termination. For
the avoidance of doubt, the Litchfield Distillery (formal name, Hardscrabble LLC) shall not be considered a “Competitive
Business” so long as it does not sell bottled water products or other non-alcoholic office refreshment products to the home
or office markets.  

 

10.             
Disputes and Controversies. The Parties agree that in case of any dispute, controversy or claim arising out of or
relating to this Agreement, other than pursuant to Section 4 of the Employment Agreement (as amended above) or in any matter where
injunctive relief is sought, the dispute, controversy or claim shall be determined by arbitration in accordance with the Commercial
Arbitration Rules of the American Arbitration Association. The place of the arbitration shall be Hartford, Connecticut. Any arbitration
award shall be based upon and accompanied by a written opinion containing findings of fact and conclusions of law. The determination
of the arbitrator(s) shall be conclusive and binding on the Parties, and any judgment upon the award rendered by the arbitrator(s)
may be entered in any court having jurisdiction.

 

11.             
Knowing and Voluntary Waiver. Executive acknowledges that he has carefully reviewed this Agreement and that he enters
into it knowingly and voluntarily. Executive understands and acknowledges that the release provided in this Agreement is in exchange
for consideration that is in addition to anything to which Executive is already entitled and that, by this Section, the Company
has advised Executive to consult with an attorney of his choosing prior to executing this Agreement. Executive acknowledges that
neither the Company, its affiliates and subsidiaries, nor any of their employees, representatives or attorneys have made any representations
or promises concerning the terms or effects of this Agreement other than those contained herein.

 

    	 	-4-	 

     

    

12.             
Consideration Period; Right to Revoke Agreement; Effective Date. Executive acknowledges that he has been given a
period of at least 21 days within which to consider the Agreement, and the Parties agree that any changes to this Agreement, whether
material or immaterial, have not re-started the running of this period. Executive may revoke or cancel this Agreement within seven
days after his execution of it by notifying the Company of his desire to do so in writing delivered to Vice President, Human Resources
at 1050 Buckingham Street, Watertown, CT  06795 within the seven-day period. Executive understands and agrees
that this Agreement shall be void and of no effect if he revokes this Agreement. This Agreement shall be effective on the eighth
day after Executive’s execution of the Agreement, assuming that he has not first revoked the Agreement.

 

13.             
Non-Interference. For clarity, the Company confirms that nothing in this Agreement is intended to prevent, impede
or interfere with Executive’s right, without notice to the Company, to (a) file a charge or complaint with any agency which
enforces anti-discrimination, workplace safety, securities, or other laws; (b) communicate with, cooperate with or provide truthful
information to any governmental agency, or participate in any government investigation; (c) testify truthfully in any court or
administrative proceeding; or (d) receive and retain any monetary award from a government administered whistleblower award program
for providing information directly to a government agency.  However, Executive understands that by signing this Agreement
and not revoking it, he has waived his right to recover any money from the Company or any other Released Entities, other than as
provided herein.

 

14.             
Interpretation and Governing Law. This Agreement will be governed by and construed according to the laws of the State
of Connecticut. The terms of this Agreement shall be interpreted neither for nor against either Party and without regard to which
Party was the primary drafter.

 

15.             
Headings/Counterparts. The headings of the sections in this Agreement are for convenience only and shall not be deemed
to control or affect the meaning or construction of any of the provisions of this Agreement. This Agreement may be executed in
two or more counterparts, and facsimile or emailed signature pages shall be treated the same as those with original signatures.

 

16.             
No Duty to Mitigate. Executive shall not be required to mitigate the amount of any compensation payable to him pursuant
to Section 2 hereof, whether by seeking other employment or otherwise, nor shall any compensation earned by Executive during the
continuance of any payments under Section 2 hereof reduce the amount of compensation payable under Section 2 hereof.

 

    	 	-5-	 

     

    

17.             
Entire Agreement; Amendments. This Agreement constitutes the entire agreement between Executive and the Company with
respect to the subject matter hereof, and it supersedes all prior or contemporaneous agreements or understandings related to Executive’s
separation or separation benefits, except the Employment Agreement to the extent incorporated herein. For clarity, Executive shall
remain bound by the Code of Ethics and Supplemental Policy (each as defined in the Employment Agreement) through the Date of Termination.
Amendments to this Agreement shall not be effective unless they are in writing signed by Executive and the Chief Executive Officer
of the Company. No waiver by any Party at any time of any breach by the other Party shall be deemed a waiver of similar or dissimilar
provisions or conditions at the same or at any prior or subsequent time. No waiver of any provision of this Agreement shall be
implied from any course of dealing between or among the Parties or from any failure by any Party to assert its rights hereunder
on any occasion or series of occasions.

 

By signing this Agreement, John B. BAKER acknowledges
that he DOES SO Voluntarily after carefully reading and fully understanding EACH provision and all of the effects of this agreement,
which includes a release of known and unknown claims and Restricts future legal action against crystal rock holdings, Inc. AND
Other released parties.

 

 

 

 

 

 

 

    	 	-6-	 

     

    

	IN WITNESS WHEREOF, and intending to be legally bound hereby, the Parties have executed this Agreement.
	 

         
	 
	
        JOHN B. BAKER

         

         

         

        /s/ John B. Baker                       / 2/12/18

        John B. Baker                           / Date
	
        CRYSTAL rOCK HOLDINGS, INC. 

         

         

         

        By:  /s/ Peter K. Baker                       / 2/12/18

        Peter K. Baker                           / Date

        Chief Executive Officer

         

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Signature Page to Separation and General Release Agreement –
John BakerEX-10.2

 Exhibit 10.2 

AMENDED AND RESTATED TRADEMARK LICENSE AGREEMENT 

This AMENDED AND RESTATED TRADEMARK LICENSE AGREEMENT (“Agreement”) is made and entered into as of
December 21, 2017, by and between Blackstone TM L.L.C. ( “Licensor”) and Blackstone Mortgage Trust, Inc., a Maryland corporation formerly known as Capital Trust, Inc. (“Licensee”). 

WHEREAS, Licensor is the owner of the service mark, corporate name and trade name “Blackstone”, U.S. Registration
Nos. 1,986,927 and 2,374,887; as well as trademark “BXMT”, U.S. Registration No. 4,501,757 and, in each case, all common-law rights related thereto (collectively, the “Licensed Marks”); 

WHEREAS, Licensee is a real estate finance company that conducts its operations as a real estate investment trust (the
“Licensee Business”); 
 WHEREAS, Licensor and Licensee previously entered into the Trademark License
Agreement, effective as of May 6, 2013 (the “Original Agreement”); and 
 WHEREAS, Licensor and
Licensee have agreed to amend and restate the Original Agreement on the terms set forth herein. 
 NOW, THEREFORE, in
consideration of the premises and the mutual promises and covenants contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 

 

	 	1.	 Grant of Rights; Sublicensing.  

Section 1.1. License Grant. Subject to the terms and conditions herein, Licensor hereby grants to Licensee a
fully paid-up, royalty-free, non-exclusive, non-transferable (subject to Section 9), worldwide license to use the Licensed Marks during the Term of this Agreement, solely (a) as a trademark, in connection with the Licensee Business or
(b) as part of the corporate name or trade name “Blackstone Mortgage Trust,” “Blackstone Mortgage Trust, Inc.,” or “BXMT” (including in the form set forth on Schedule A hereto) (collectively, the
“Company Name”). 
 Section 1.2. Sublicensing. Licensee shall not sublicense its rights
under this Agreement except to a current or future subsidiary of Licensee, provided that (a) prior written notice of such sublicensing shall be provided to Licensor, (b) no such subsidiary shall use the Licensed Marks as part of a name
other than its name or the Company Name and (c) any such sublicense shall terminate automatically, with no need for written notice, if (x) such entity ceases to be a subsidiary of Licensee, (y) this Agreement terminates for any reason
or (z) Licensor gives notice of such termination. Licensee shall be responsible for any such sublicensee’s compliance with the provisions of this Agreement, and any breach by a sublicensee of any such provision shall constitute a breach of
this Agreement by Licensee. 

 Section 1.3. Subsidiaries. Neither Licensee nor any of its
current or future subsidiaries shall use any trademark, corporate name, trade name or logo of Licensor (other than the Licensed Marks) without the prior written consent of Licensor in its sole discretion. 

Section 1.4. Reservation of Rights. All rights not expressly granted to Licensee in this Agreement are
reserved to Licensor. 
 2. Ownership. Licensee acknowledges and agrees that, as between the parties,
Licensor is the sole owner of all right, title and interest in and to the Licensed Marks. Licensee agrees not to do anything inconsistent with such ownership, including (i) filing to register any trademark or service mark containing the
Licensed Marks or anything confusingly similar thereto or (ii) directly or indirectly challenging, contesting or otherwise disputing the validity or enforceability of, or Licensor’s ownership of or right, title or interest in, the Licensed
Marks (and the associated goodwill), including without limitation, arising out of or relating to any third-party claim, allegation, action, demand, proceeding or suit (“Action”) regarding enforcement of this Agreement or involving
any third party. The parties intend that any and all goodwill in the Licensed Marks arising from Licensee’s or any applicable sublicensee’s use of the Licensed Marks shall inure solely to the benefit of Licensor. Notwithstanding
the foregoing, in the event that Licensee or any permitted sublicensee is deemed to own any rights in the Licensed Marks, Licensee hereby irrevocably assigns (or shall cause such sublicensee to assign), without further consideration, such rights to
Licensor together with all goodwill associated therewith. 
 3. Registration. Licensor agrees that
Licensee (and any permitted sublicensee) may register or may have registered the Company Name as a corporate name, provided in each case that such registration shall not grant Licensee any interest in the Licensed Marks. Licensee has not and shall
not register a domain name or a social media identifier containing or comprising the Licensed Marks without Licensor’s prior written consent, which shall not be unreasonably withheld, provided that (a) at Licensor’s option, Licensee
may serve as the registrant or owner of record of such domain name or social media identifier, and (b) if Licensor allows Licensee to serve as the registrant or owner of record of such domain name or social media identifier, such registration
shall not grant Licensee any interest in the Licensed Marks.  
  

	 	4.	 Use of the Company Name and Licensed Marks. 

Section 4.1. Quality Control. Licensee and its permitted sublicensees shall use the Licensed Marks in a
manner consistent with Licensor’s high standards of and reputation for quality, and in accordance with good trademark practice wherever the Licensed Marks are used. Licensee shall not take any action that could reasonably be expected to be
detrimental to the Licensed Marks or the goodwill associated therewith. Licensee shall use with the Licensed Marks any applicable trademark notices as may be requested by Licensor or required under applicable laws. 

Section 4.2. Samples. Upon request by Licensor, Licensee shall furnish to Licensor representative samples
of all advertising and promotional materials that use the Licensed Marks, in any media or format. Licensee shall make any changes to such materials that Licensor requests to comply with Section 4.1, or to preserve the validity of
Licensor’s rights in the Licensed Marks. 

  
 2 

 Section 4.3. Compliance with Laws. Licensee shall, at its sole
expense, comply at all times with all applicable laws, regulations, exchange, guidelines and other rules and reputable industry practice pertaining to the Licensee Business and the use of the Licensed Marks. 

 

	 	5.	 Termination. 

Section 5.1. Term. The term of this Agreement (“Term”) commenced on May 6, 2013 and
continues in perpetuity, unless termination occurs pursuant to the other provisions of this Section 5. 

Section 5.2. Termination for Convenience. Either party may terminate this Agreement for any reason upon 90
days’ prior written notice to the other party. Upon notification of termination by Licensee under this Section 5.2, Licensor may elect to effect termination of this Agreement immediately at any time after 30 days from the date of such
notification. 
 Section 5.3. Termination for Breach. If either party materially breaches one or more of
its obligations hereunder, the other party may terminate this Agreement, effective upon written notice, if the breaching party does not cure such breach within 15 days after written notice thereof (or any mutually-agreed extension). Licensor may
terminate this Agreement immediately, effective upon written notice, if Licensee violates or attempts to violate Section 9. 

Section 5.4. Termination of Management Agreement. This Agreement shall terminate automatically without
notice and immediately if (a) BXMT Advisors L.L.C. or another affiliate of Licensor is no longer acting as manager (any such entity, the “Manager”) to Licensee under the Second Amended and Restated Management Agreement, dated
as of October 23, 2014 (as the same may be amended, modified or otherwise restated, the “Management Agreement”), or a similar agreement, or (b) if the Manager is no longer an affiliate of Licensor. Upon notification of
termination or non-renewal of the Management Agreement by Licensee to Manager, Licensor may elect to effect termination of this Agreement immediately at any time after 30 days from date of such notification. The term “affiliate” as used
herein shall have the meaning given to such term in the Management Agreement. 
 Section 5.5. Termination for
Bankruptcy. Licensor has the right to terminate this Agreement immediately upon written notice to Licensee if (a) Licensee makes an assignment for the benefit of creditors; (b) Licensee admits in writing its inability to pay debts as
they mature; (c) a trustee or receiver is appointed for a substantial part of Licensee’s assets or (d) to the extent termination is enforceable under local law, a proceeding in bankruptcy is instituted against Licensee which is
acquiesced in, is not dismissed within 120 days, or results in an adjudication of bankruptcy. In the event of any of the foregoing, Licensor shall have the right, in addition to its other rights and remedies, to suspend Licensee’s rights
regarding the Licensed Marks while Licensee attempts to remedy the situation. 
 Section 5.6. Effect of
Termination; Survival. Upon termination of this Agreement for any reason, (a) Licensee shall immediately, except as required by law, regulation or exchange rules, (i) cease all use of the Licensed Marks, (ii) at Licensor’s
option, cancel or transfer to 

  
 3 

 
Licensor any corporate names, domain names or social media identifiers containing or comprising the Licensed Marks, (iii) cease all use of the Licensed Marks in connection with the New York
Stock Exchange or any other applicable exchange and (iv) destroy all existing materials in any media in its possession or control and bearing the Licensed Marks, in each case, at Licensee’s expense; and (b) the parties shall cooperate
so as to best preserve the value of the Licensed Marks. Section 3, this Section 5.6, and Sections 7.2, 7.3, 8, 9 and 10 shall survive termination of this Agreement. 

6. Infringement. Licensee shall notify Licensor promptly after it becomes aware of any actual or threatened
infringement, imitation, dilution, misappropriation or other unauthorized use or conduct in derogation (“Infringement”) of the Licensed Marks. Licensor shall have the sole right to bring any Action to remedy the foregoing, and
Licensee shall cooperate with Licensor in same, at Licensor’s expense. 
  

	 	7.	 Representations and Warranties; Limitations. 

Section 7.1. Each party represents and warrants to the other party that: 

(a) This Agreement is a legal, valid and binding obligation of the warranting party, enforceable against such party in
accordance with its terms, subject to the effect of any applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights and remedies generally, and subject, as to enforceability, to the effect of
general principles of equity (regardless of whether enforcement is considered in a proceeding at law or in equity); 
 (b)
The warranting party is not subject to any judgment, order, injunction, decree or award of any court, administrative agency or governmental body that would or might interfere with its performance of any of its material obligations hereunder; and

 (c) The warranting party has full power and authority to enter into and perform its obligations under this Agreement in
accordance with its terms. 
 Section 7.2. EXCEPT AS EXPRESSLY
SET FORTH IN SECTION 7.1, LICENSOR MAKES NO REPRESENTATIONS OR WARRANTIES,
EXPRESS OR IMPLIED, WITH RESPECT TO THIS AGREEMENT OR THE LICENSED
MARKS, AND EXPRESSLY DISCLAIMS ALL SUCH REPRESENTATIONS AND WARRANTIES, INCLUDING
ANY WITH RESPECT TO TITLE, NON-INFRINGEMENT, MERCHANTABILITY, VALUE, RELIABILITY OR
FITNESS FOR USE. LICENSEE’S USE OF THE LICENSED MARKS IS ON
AN “AS-IS” BASIS. 
 Section 7.3.
EXCEPT WITH RESPECT TO LICENSEE’S INDEMNIFICATION OBLIGATIONS UNDER SECTION 8,
NEITHER PARTY WILL BE LIABLE TO THE OTHER PARTY FOR SPECIAL,
INDIRECT, CONSEQUENTIAL, EXEMPLARY, PUNITIVE OR INCIDENTAL DAMAGES (INCLUDING LOST PROFITS
OR GOODWILL, BUSINESS INTERRUPTION AND THE LIKE) RELATING TO THIS AGREEMENT,
EVEN IF IT HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. 

  
 4 

	 	8.	 Indemnification. 

Section 8.1. Indemnity by Licensee. Licensee will defend at its expense, indemnify and hold harmless
Licensor and its affiliates and their respective directors, officers, employees, agents and representatives from any losses, liabilities, damages, awards, settlements, judgments, fees, costs or expenses (including reasonable attorneys’ fees and
costs of suit) arising out of or relating to any third-party Action against any of them that arises out of or relates to (i) any breach by Licensee of this Agreement or its warranties, representations, covenants and undertakings hereunder;
(ii) Licensee’s operation of the Licensee Business; or (iii) any claim that Licensee’s use of the Licensed Marks, other than as explicitly authorized by this Agreement, Infringes the rights of a third party. 

Section 8.2. Indemnification Procedure. Licensor will promptly notify Licensee in writing of any
indemnifiable claim and promptly as practicable tender its defense to Licensee. Any delay in such notice will not relieve Licensee from its obligations to the extent it is not prejudiced thereby. Licensor will cooperate with Licensee at
Licensee’s expense. Licensee may not settle any indemnified claim without Licensor’s prior, written consent, in Licensor’s sole discretion. Licensor may participate in its defense with counsel of its own choice at its own
expense. 
 9. Assignments. Licensee may not assign, transfer, pledge, mortgage or otherwise encumber this
Agreement or its right to use the Licensed Marks, in whole or in part, without the prior written consent of Licensor in its sole discretion, except to a successor organization that is solely the result of a name change by Licensee. For the
avoidance of doubt, a merger, change of control, reorganization or sale of all or substantially all of the stock of Licensee shall be deemed an “assignment” requiring such consent, regardless of whether Licensee is the surviving
entity. Licensee acknowledges that its identity is a material condition that induced Licensor to enter into this Agreement. Any attempted action in violation of the foregoing shall be null and void ab initio and of no force or
effect, and shall result in immediate termination of this Agreement. In the event of a permitted assignment hereunder, this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted
assigns. 
  

	 	10.	 Miscellaneous. 

Section 10.1. Notice. Any notices that may or are required to be given hereunder by any party to another
shall be deemed to have been duly given if (i) personally delivered, when received, (ii) sent by U.S. Express Mail or recognized overnight courier, on the second following business day (or third following business day if mailed outside the
United States), (iii) delivered by electronic mail, when received or (iv) posted on a password protected website maintained by the Manager and for which the Licensee has received access instructions by electronic mail, when posted: 

  
 5 

					
		 	 LICENSOR:
  

Blackstone TM L.L.C.
 345 Park Avenue

New York, NY 10154
 Attention: Tabea Hsi

email: Tabea.Hsi@blackstone.com
 Attention: Matthew Anderson

email:
 matthew.Anderson@blackstone.com
	  	 LICENSEE:
  

Blackstone Mortgage Trust, Inc.
 345 Park Avenue, 42nd Floor

New York, NY 10154
 Attention: Leon Volchyok

email:Leon.Volchyok@blackstone.com

 Section 10.2. Integration. This Agreement contains the entire agreement and
understanding among the parties hereto with respect to the subject matter hereof, and supersedes all prior and contemporaneous agreements (including, without limitation, any prior agreements between the Licensee and Manager), understandings,
inducements and conditions, express or implied, oral or written, of any nature whatsoever with respect to the subject matter hereof. The express terms hereof control and supersede any course of performance and/or usage of the trade inconsistent with
any of the terms hereof. 
 Section 10.3. Amendments. Neither this Agreement, nor any terms hereof,
may be amended, supplemented or modified except in an instrument in writing executed by the parties hereto. 

Section 10.4. Governing Law. THIS AGREEMENT AND
THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AGREEMENT SHALL
BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE
LAW OF THE STATE OF NEW YORK. EACH OF THE PARTIES HERETO
IRREVOCABLY AND UNCONDITIONALLY SUBMITS TO THE EXCLUSIVE JURISDICTION OF THE COURTS
OF THE STATE OF NEW YORK AND THE UNITED STATE DISTRICT COURT
FOR ANY DISTRICT WITHIN SUCH STATE FOR THE PURPOSE OF ANY ACTION
OR JUDGMENT RELATING TO OR ARISING OUT OF THIS AGREEMENT OR ANY
OF THE TRANSACTIONS CONTEMPLATED HEREBY, AND TO THE LAYING OF VENUE
IN SUCH COURT. 
 Section 10.5. Waiver of Jury Trial.
EACH PARTY HERETO ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY
ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT
ISSUES, AND, THEREFORE, EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY
WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT
SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT TO
ANY ACTION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN
CONNECTION WITH OR RELATING TO THIS AGREEMENT. 

Section 10.6. No Waiver; Cumulative Remedies. No failure to exercise and no delay in exercising, on the
part of a party hereto, any right, remedy, power or privilege hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or
the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided are cumulative and not exclusive of any rights, remedies, powers and privileges provided by law. 

Section 10.7. Costs and Expenses. Each party hereto shall bear its own costs and expenses (including the
fees and disbursements of counsel and accountants) incurred in connection with the negotiations and preparation of this Agreement, and all matters incident thereto. 

  
 6 

 Section 10.8. Section Headings. The section and subsection
headings in this Agreement are for convenience in reference only and shall not be deemed to alter or affect the interpretation of any provisions hereof. 

Section 10.9. Counterparts. This Agreement may be executed by the parties to this Agreement in any number
of separate counterparts (including by facsimile), and all of said counterparts taken together shall be deemed to constitute one and the same instrument. 

Section 10.10. Entire Agreement. This Agreement and the Schedule herewith constitutes the entire agreement
between the parties hereto with respect to the subject matter hereof and supersedes all prior agreements and understandings between the parties with respect to such subject matter, including the Original Agreement, which is no longer in force. 

Section 10.11. Severability. Any provision of this Agreement which is prohibited or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not
invalidate or render unenforceable such provision in any other jurisdiction. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

  
 7 

 IN WITNESS WHEREOF, each of the parties hereto has executed this Agreement as of
the date first written above. 
  

															
	BLACKSTONE TM L.L.C.	 		 		 		 	BLACKSTONE MORTGAGE TRUST, INC.
							
	By:	 	/s/ Tabea Hsi                    	 		 		 		 	By:	 	/s/ Leon
Volchyok                                        
            
		 	Name: Tabea Hsi	 		 		 		 		 	Name:	 	Leon
Volchyok                                        
        
		 	Title: Assistant Secretary	 		 		 		 		 	Title:	 	Head of Legal and Compliance
		 		 		 		 		 		 		 	and Secretary

  
 8 

 SCHEDULE A 

 
 

 

  
 9

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00279-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00279-of-00352.parquet"}]]