Document:

Exhibit

Exhibit 10.1
SECOND AMENDMENT TO SECOND AMENDED  
AND RESTATED CREDIT AGREEMENT
THIS SECOND AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”) made as of this 31st day of January, 2017, by and among CARTER/VALIDUS OPERATING PARTNERSHIP, LP, a Delaware limited partnership (the “Borrower”), CARTER VALIDUS MISSION CRITICAL REIT, INC., a Maryland corporation (“REIT”), THE ENTITIES LISTED ON THE SIGNATURE PAGES HEREOF AS SUBSIDIARY GUARANTORS (hereinafter referred to individually as a “Subsidiary Guarantor” and collectively, as “Subsidiary Guarantors”; REIT and the Subsidiary Guarantors are sometimes hereinafter referred to individually as a “Guarantor” and collectively as “Guarantors”), KEYBANK NATIONAL ASSOCIATION, a national banking association (“KeyBank”), THE OTHER LENDERS LISTED ON THE SIGNATURES PAGES HEREOF AS LENDERS (KeyBank and the other lenders are listed on the signatures pages hereof as Lenders, collectively, the “Lenders”), and KEYBANK NATIONAL ASSOCIATION, a national banking association, as Agent for the Lenders (the “Agent”).  
W I T N E S S E T H:
WHEREAS, Borrower and KeyBank, individually and as Agent, and the Lenders entered into that certain Second Amended and Restated Credit Agreement dated as of May 28, 2014 (the “Original Credit Agreement”), as amended by that certain First Amendment to Second Amended and Restated Credit Agreement and Amendment to Other Loan Documents dated August 21, 2015 (the “First Amendment”) (the Original Credit Agreement, as amended by the First Amendment, is hereinafter referred to as the “Credit Agreement”); and
WHEREAS, each of the Guarantors are a party to that certain Unconditional Guaranty of Payment of Performance in favor of Agent and the Lenders dated as of May 28, 2014, as amended by the First Amendment (as modified or amended, the “Guaranty”);
WHEREAS, Borrower and Guarantors have requested that the Agent and the Lenders make certain modifications to the Credit Agreement; and
WHEREAS, the Agent and the Lenders have consented to such modifications, subject to the execution and delivery of this Amendment.
NOW, THEREFORE, for and in consideration of the sum of TEN and NO/100 DOLLARS ($10.00), and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto do hereby covenant and agree as follows:
1.Definitions.  All terms used herein which are not otherwise defined herein shall have the meanings set forth in the Credit Agreement.
2.    Modification of the Credit Agreement.  The Agent, the Lenders and the Borrower hereby amend the Credit Agreement as follows:

(a)    By modifying the definition of Revolving Credit Maturity Date in §1.1 of the Credit Agreement by deleting the words and figures “May 28, 2017”, and inserting in lieu thereof the words and figures “May 28, 2018.”
(b)    By modifying §2.12(a) of the Credit Agreement by deleting the words and figures “the one-time right and option to extend the Revolving Credit Maturity Date to May 28, 2018”, and inserting in lieu thereof the words and figures “the one-time right and option to extend the Revolving Credit Maturity Date to May 28, 2019 (the “First Revolving Credit Maturity Date Extension Option”)
(c)    By modifying §2.12(a) of the Credit Agreement by inserting the following paragraph after §2.12(a)(vi):
“Such extension of the Revolving Credit Maturity Date or Term Loan Maturity Date, as applicable, shall be effective upon the later of (i) the date such notice is given and (ii) the date the extension fee is paid; provided, that Borrower also certifies to Agent in writing that the conditions in §2.12(a)(i)-(vi) have also been satisfied.  Agent shall promptly notify Borrower in writing when the extension is effective (provided no such acknowledgment shall constitute a waiver of any misrepresentation or other Default or Event of Default).”
(d)    By inserting the following new subsection §2.12(b) in the Credit Agreement:
“(b)    Provided that Borrower has duly exercised the First Revolving Credit Maturity Date Extension Option in accordance with the terms and conditions set forth in §2.12(a) above, Borrower shall have the one-time right and option to further extend the Revolving Credit Maturity Date to May 28, 2020 (the “Second Revolving Credit Maturity Date Extension Option”), upon satisfaction of the following conditions precedent, which must be satisfied prior to the effectiveness of any additional extension of the Revolving Credit Maturity Date:
(i)    satisfaction of the conditions precedent set forth in §2.12(a)(i), (ii), (iv), (v) and (vi) above; and 
(ii)    Payment of Second Extension Fee.  The Borrower shall pay to the Agent for the pro rata accounts of the Revolving Credit Lenders in accordance with their respective Revolving Credit Commitments, an extension fee in an amount equal to thirty (30) basis points on the Total Revolving Credit Commitment in effect on the Revolving Credit Maturity Date, as extended pursuant to the First Revolving Credit Maturity Date Extension Option, which fee shall, when paid, be fully earned and non-refundable under any circumstances.
Such extension of the Revolving Credit Maturity Date shall be effective upon the later of (i) the date such notice is given and (ii) the date the extension fee is paid; provided, that Borrower also certifies to Agent in writing that the conditions in §2.12(b)(i)-(ii) have also been satisfied.  Agent shall promptly notify Borrower in writing when the extension is effective (provided no such acknowledgment shall constitute a waiver of any misrepresentation or other Default or Event of Default).”

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3.    References to Amended Documents.  All references in the Loan Documents to the Credit Agreement amended in connection with this Amendment shall be deemed a reference to the Credit Agreement as modified and amended herein.  
4.    Consent of Borrower and Guarantors.  By execution of this Amendment, Guarantors hereby expressly consent to the modifications and amendments relating to the Credit Agreement as set forth herein, and Borrower and Guarantors hereby acknowledge, represent and agree that the Loan Documents (including, without limitation, the Guaranty), remain in full force and effect and constitute the valid and legally binding obligation of Borrower and Guarantors, respectively, enforceable against such Persons in accordance with their respective terms, and that the Guaranty extends to and applies to the foregoing documents as modified and amended.
5.    Representations.  Borrower and Guarantors represent and warrant to Agent and the Lenders as follows:
(a)    Authorization.  The execution, delivery and performance of this Amendment and the transactions contemplated hereby (i) are within the authority of Borrower and Guarantors, (ii) have been duly authorized by all necessary proceedings on the part of such Persons, (iii) do not and will not conflict with or result in any breach or contravention of any provision of law, statute, rule or regulation to which any of such Persons is subject or any judgment, order, writ, injunction, license or permit applicable to such Persons, (iv) do not and will not conflict with or constitute a default (whether with the passage of time or the giving of notice, or both) under any provision of the partnership agreement or certificate, certificate of formation, operating agreement, articles of incorporation or other charter documents or bylaws of, or any mortgage, indenture, agreement, contract or other instrument binding upon, any of such Persons or any of its properties or to which any of such Persons is subject, and (v) do not and will not result in or require the imposition of any lien or other encumbrance on any of the properties, assets or rights of such Persons, other than the liens and encumbrances created by the Loan Documents.
(b)    Enforceability.  The execution and delivery of this Amendment are valid and legally binding obligations of Borrower and Guarantors enforceable in accordance with the respective terms and provisions hereof, except as enforceability is limited by bankruptcy, insolvency, reorganization, moratorium or other laws relating to or affecting generally the enforcement of creditors’ rights and the effect of general principles of equity.
(c)    Approvals.  The execution, delivery and performance of this Amendment and the transactions contemplated hereby do not require the approval or consent of or approval of any Person or the authorization, consent, approval of or any license or permit issued by, or any filing or registration with, or the giving of any notice to, any court, department, board, commission or other governmental agency or authority other than those already obtained.
(d)    Reaffirmation.  Borrower and Guarantors reaffirm and restate as of the date hereof each and every representation and warranty made by the Borrower, the Guarantors and their respective Subsidiaries in the Loan Documents or otherwise made by or on behalf of such Persons in connection therewith except for representations or warranties that expressly relate to an earlier date.

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6.    No Default.  By execution hereof, the Borrower and Guarantors certify that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after the execution and delivery of this Amendment, and that no Default or Event of Default has occurred and is continuing.
7.    Waiver of Claims.  Borrower and Guarantors acknowledge, represent and agree that Borrower and Guarantors as of the date hereof have no defenses, setoffs, claims, counterclaims or causes of action of any kind or nature whatsoever with respect to the Loan Documents, the administration or funding of the Loans or with respect to any acts or omissions of Agent or any of the Lenders, or any past or present officers, agents or employees of Agent or any of the Lenders, and each of Borrower and Guarantors does hereby expressly waive, release and relinquish any and all such defenses, setoffs, claims, counterclaims and causes of action, if any.
8.    Ratification.  Except as hereinabove set forth or in any other document previously executed or executed in connection herewith, all terms, covenants and provisions of the Credit Agreement amended in connection herewith remain unaltered and in full force and effect, and the parties hereto do hereby expressly ratify and confirm the Credit Agreement, as modified and amended herein and therein.  Guarantors hereby consent to the terms of this Amendment and ratify the Guaranty.  Nothing in this Amendment or any other document delivered in connection herewith shall be deemed or construed to constitute, and there has not otherwise occurred, a novation, cancellation, satisfaction, release, extinguishment or substitution of the indebtedness evidenced by the Notes or the other obligations of Borrower and Guarantors under the Loan Documents (including without limitation the Guaranty).
9.    Counterparts.  This Amendment may be executed in any number of counterparts which shall together constitute but one and the same agreement.
10.    Miscellaneous.  THIS AMENDMENT SHALL, PURSUANT TO NEW YORK GENERAL OBLIGATIONS LAW SECTION 5-1401, BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.  This Amendment shall be binding upon and shall inure to the benefit of the parties hereto and their respective permitted successors, successors-in-title and assigns as provided in the Credit Agreement.
11.    Effective Date.  The obligations of the undersigned parties under Section 2 of this Amendment shall be deemed effective and in full force and effect (the “Effective Date”) only upon confirmation by the Agent of the satisfaction of the following conditions:
(a)    the execution and delivery of this Amendment by Borrower, Guarantors, Agent, and each Lender (and the delivery to the Borrower of a copy of such fully-executed Amendment by the Agent shall be evidence of satisfaction of this condition);
(b)    the delivery to Agent of an opinion of counsel to the Borrower and the Guarantors addressed to the Agent and the Lenders dated as of the Effective Date covering such matters as the Agent may reasonably request;;
(c)    receipt by Agent of evidence that the Borrower shall pay contemporaneously with the Effective Date all fees (including legal fees) due and payable with respect to this Amendment;

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(d)    with respect to Borrower and each Guarantor, receipt by Agent of (i) such resolutions, secretary’s and incumbency certificates, and organizational documents, in each case as the Agent may reasonably request, and (ii) good standing certificates for their respective state of incorporation or formation issued not more than thirty (30) days prior to the Effective Date, in each case as the Agent may reasonably request;
(e)    such other conditions as Agent may require in its reasonable discretion.

[Remainder of Page Intentionally Left Blank]

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IN WITNESS WHEREOF, the parties hereto have hereto set their hands and affixed their seals as of the day and year first above written.
BORROWER:
CARTER/VALIDUS OPERATING PARTNERSHIP, LP, a Delaware limited partnership
		
	By:
	Carter Validus Mission Critical REIT, Inc.,  
a Maryland corporation, its general partner

By: /s/ Todd M. Sakow    
Name:  Todd M. Sakow
Title:     Chief Financial Officer 
(CORPORATE SEAL)
REIT:
CARTER VALIDUS MISSION CRITICAL REIT, INC., a Maryland corporation
By: /s/ Todd M. Sakow    
 
Name:    Todd M. Sakow
Title:    Chief Financial Officer
(CORPORATE SEAL)

KeyBank/CV Reit I:  Signature Page to Second Amendment to  
Second Amended and Restated Credit Agreement

SUBSIDIARY GUARANTORS:
HC-2501 W WILLIAM CANNON DR, LLC 
DC-19675 W. TEN MILE, LLC 
DC-1221 COIT ROAD, LLC 
DC-5000 BOWEN ROAD, LLC 
HC-8451 PEARL STREET, LLC 
HC-3873 N. PARKVIEW DRIVE, LLC 
DC-2 CHRISTIE HEIGHTS, LLC 
HC-2257 KARISA DRIVE, LLC 
HC-239 S. MOUNTAIN BOULEVARD MANAGEMENT, LLC 
DC-15 SHATTUCK ROAD, LLC 
DATA CENTER ‐ 5150 MCCRIMMON PARKWAY, LLC 
HC-1940 TOWN PARK BOULEVARD, LLC 
HC-1946 TOWN PARK BOULEVARD, LLC 
HC-17322 RED OAK DRIVE, LLC 
DC-N15W24250 RIVERWOOD DRIVE, LLC 
HC-10323 STATE HIGHWAY 151, LLC 
each a Delaware limited liability company 

		
	By:
	Carter/Validus Operating Partnership, LP, a Delaware limited partnership, their sole member 

		
	By:
	Carter Validus Mission Critical REIT, Inc., a Maryland corporation, its general partner

By: /s/ Todd M. Sakow         
Name:    Todd M. Sakow
Title:    Chief Financial Officer

(CORPORATE SEAL)

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KeyBank/CV Reit I:  Signature Page to Second Amendment to  
Second Amended and Restated Credit Agreement

HC-5101 MEDICAL DRIVE, LLC 
HC-5330 N. LOOP 1604 WEST, LLC 
HC-3436 MASONIC DRIVE, LLC 
HC-42570 SOUTH AIRPORT ROAD, LLC 
DATA CENTER ‐ 1805 CENTER PARK DRIVE, LLC 
DC-615 NORTH 48TH STREET, LLC 
DC-8521 EAST PRINCESS DRIVE, LLC 
HCP-SELECT MEDICAL, LLC 
HC-1101 KALISTE SALOOM ROAD, LLC 
HC-116 EDDIE DOWLING HIGHWAY, LLC 
DC-1099 WALNUT RIDGE DRIVE, LLC 
HCP-DERMATOLOGY ASSOCIATES, LLC 
DC-1001 WINDWARD CONCOURSE, LLC 
HC-800 EAST 68TH STREET, LLC 
DC-1650 UNION HILL ROAD, LLC 
HCP-RTS, LLC, 
HCP-PAM WARM SPRINGS, LLC 
DC-3300 ESSEX, LLC, 
each a Delaware limited liability company 

		
	By:
	Carter/Validus Operating Partnership, LP, a Delaware limited partnership, their sole member 

		
	By:
	Carter Validus Mission Critical REIT, Inc., a Maryland corporation, its general partner

By: /s/ Todd M. Sakow             
Name:    Todd M. Sakow
Title:    Chief Financial Officer

(CORPORATE SEAL)

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KeyBank/CV Reit I:  Signature Page to Second Amendment to  
Second Amended and Restated Credit Agreement

HC-239 S. MOUNTAIN BOULEVARD, LP, a Delaware limited partnership

		
	By:
	HC-239 S. Mountain Boulevard Management, LLC, a Delaware limited liability company, its sole general partner

		
	By:
	Carter/Validus Operating Partnership, LP,  
a Delaware limited partnership, its sole member

		
	By:
	Carter Validus Mission Critical REIT,  
Inc., a Maryland corporation, its General Partner

By: /s/ Todd M. Sakow________________
Name:    Todd M. Sakow
Title:    Chief Financial Officer

 (CORPORATE SEAL)

DC-5150 MCCRIMMON PARKWAY, LP, a Delaware limited partnership

		
	By:
	Data Center ‐ 5150 McCrimmon, LLC, a Delaware limited liability company, its general partner

		
	By:
	Carter/Validus Operating Partnership, LP,  
a Delaware limited partnership, its sole member

		
	By:
	Carter Validus Mission Critical REIT,  
Inc., a Maryland corporation, its General Partner

By: /s/ Todd M. Sakow________________
Name:    Todd M. Sakow
Title:    Chief Financial Officer
 
(CORPORATE SEAL)
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KeyBank/CV Reit I:  Signature Page to Second Amendment to  
Second Amended and Restated Credit Agreement

DC-1805 CENTER PARK DRIVE, LP, a Delaware limited partnership

		
	By:
	Data Center ‐ 1805 Center Park Drive, LLC, a Delaware limited liability company, its general partner

		
	By:
	Carter/Validus Operating Partnership, LP,  
a Delaware limited partnership, its sole member

		
	By:
	Carter Validus Mission Critical REIT,  
Inc., a Maryland corporation, its General Partner

By: /s/ Todd M. Sakow_________________
Name:    Todd M. Sakow
Title:    Chief Financial Officer
 
(CORPORATE SEAL)

GREEN MEDICAL INVESTORS, LLLP, a Florida limited liability limited partnership
		
	By:
	HC-1946 Town Park Boulevard, LLC, a Delaware limited liability company, its general partner

		
	By:
	Carter/Validus Operating Partnership, LP, a Delaware limited partnership, its sole member

		
	By:
	Carter Validus Mission Critical REIT, Inc., a Maryland corporation, its general partner

By: /s/ Todd M. Sakow_________________
Name:    Todd M. Sakow
Title:    Chief Financial Officer

(CORPORATE SEAL)

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KeyBank/CV Reit I:  Signature Page to Second Amendment to  
Second Amended and Restated Credit Agreement

GREEN WELLNESS INVESTORS, LLLP, a Florida limited liability limited partnership
		
	By:
	HC-1940 Town Park Boulevard, LLC, a Delaware limited liability company, its general partner

		
	By:
	Carter/Validus Operating Partnership, LP, a Delaware limited partnership, its sole member

		
	By:
	Carter Validus Mission Critical REIT, Inc., a Maryland corporation, its general partner

By: /s/ Todd M. Sakow_________________
Name:    Todd M. Sakow
Title:    Chief Financial Officer
 
(CORPORATE SEAL)

[SIGNATURES CONTINUED ON NEXT PAGE]

KeyBank/CV Reit I:  Signature Page to Second Amendment to  
Second Amended and Restated Credit Agreement

HC-77-840 FLORA ROAD, LLC 
HC-40055 BOB HOPE DRIVE, LLC 
HC-5829 29 PALMS HIGHWAY, LLC 
HC-8991 BRIGHTON LANE, LLC 
HC-6555 CORTEZ, LLC 
HC-601 REDSTONE AVENUE WEST, LLC 
HC-2270 COLONIAL BLVD, LLC 
HC-2234 COLONIAL BLVD, LLC 
HC-1026 MAR WALT DRIVE, NW, LLC 
HC-7751 BAYMEADOWS RD. E., LLC 
HC-1120 LEE BOULEVARD, LLC 
HC-8625 COLLIER BLVD., LLC 
HC-6879 US HIGHWAY 98 WEST, LLC 
HC-7850 N. UNIVERSITY DRIVE, LLC 
HC-#2 PHYSICIANS PARK DR., LLC 
HC-52 NORTH PECOS ROAD, LLC 
HC-6160 S. FORT APACHE ROAD, LLC 
HC-187 SKYLAR DRIVE, LLC 
HC-860 PARKVIEW DRIVE NORTH, UNITS A&B, LLC 
HC-6310 HEALTH PKWY., UNITS 100 & 200, LLC, 
each a Delaware limited liability company
		
	By:
	HCP-RTS, LLC, a Delaware limited liability company, their sole 
member

		
	By:
	Carter/Validus Operating Partnership, LP, a Delaware limited partnership, its sole member

		
	By:
	Carter Validus Mission Critical REIT, Inc., a Maryland corporation, its general partner

By: /s/ Todd M. Sakow    
Name:    Todd M. Sakow
Title:    Chief Financial Officer
 (CORPORATE SEAL)
[SIGNATURES CONTINUED ON NEXT PAGE]

KeyBank/CV Reit I:  Signature Page to Second Amendment to  
Second Amended and Restated Credit Agreement

HC-20050 CRESTWOOD BLVD., LLC 
HC-42074 VETERANS AVENUE, LLC 
HC-101 JAMES COLEMAN DRIVE, LLC 
HC-102 MEDICAL DRIVE, LLC, and 
HC-1445 HANZ DRIVE, LLC, 
each a Delaware limited liability company
		
	By:
	HCP-PAM WARM SPRINGS, LLC, a Delaware limited liability company, their sole member

		
	By:
	Carter/Validus Operating Partnership, LP, a Delaware limited partnership, its sole member

		
	By:
	Carter Validus Mission Critical REIT, Inc., a Maryland corporation, its general partner

By: /s/ Todd M. Sakow    
Name:    Todd M. Sakow
Title:    Chief Financial Officer

(CORPORATE SEAL)

KeyBank/CV Reit I:  Signature Page to Second Amendment to  
Second Amended and Restated Credit Agreement

AGENT AND LENDERS:
KEYBANK NATIONAL ASSOCIATION,  
individually and as Agent 

By: /s/ Kristin Centracchio     
Name:   Kristin Centracchio 
Title:     Vice President

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KeyBank/CV Reit I:  Signature Page to Second Amendment to  
Second Amended and Restated Credit Agreement

BANK OF AMERICA, N.A., individually and as Co‐Syndication Agent 

By: /s/ Richard P. Graham     
Name: Richard P. Graham     
Title: SVP    

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KeyBank/CV Reit I:  Signature Page to Second Amendment to  
Second Amended and Restated Credit Agreement

CAPITAL ONE, NATIONAL ASSOCIATION, individually and as Documentation Agent

By:  /s/ Scott Rossbach    
Name:  Scott Rossbach
Title:   Authorized Signatory

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KeyBank/CV Reit I:  Signature Page to Second Amendment to  
Second Amended and Restated Credit Agreement

SUNTRUST BANK, individually and as Co-Syndication Agent

By: /s/ Danny Stover    
Name: Danny Stover
Title: Senior Vice President

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KeyBank/CV Reit I:  Signature Page to Second Amendment to  
Second Amended and Restated Credit Agreement

CITIZENS BANK, NATIONAL ASSOCIATION

By: /s/ Kerri Colwell    
Name: Kerri Colwell    
Title: Senior Vice President    

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KeyBank/CV Reit I:  Signature Page to Second Amendment to  
Second Amended and Restated Credit Agreement

SYNOVUS BANK

By: /s/ David W. Bowman    
Name: David W. Bowman    
Title: Director    

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KeyBank/CV Reit I:  Signature Page to Second Amendment to  
Second Amended and Restated Credit Agreement

CADENCE BANK, N.A.

By: /s/ Drew Healy    
Name:  Drew Healy
Title:    Senior Vice President

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KeyBank/CV Reit I:  Signature Page to Second Amendment to  
Second Amended and Restated Credit Agreement

TEXAS CAPITAL BANK, N.A.

By: /s/ Brett Walker    
Name: Brett Walker
Title: Senior Vice President

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KeyBank/CV Reit I:  Signature Page to Second Amendment to  
Second Amended and Restated Credit Agreement

FIFTH THIRD BANK, an Ohio corporation, individually and as Co-Syndication Agent
By: /s/ John Reynolds     
Name: John Reynolds 
Title: Vice President

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KeyBank/CV Reit I:  Signature Page to Second Amendment to  
Second Amended and Restated Credit Agreement

EASTERN BANK

By: /s/ Jared H. Ward    
Name: Jared H. Ward    
Title: SVP    

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KeyBank/CV Reit I:  Signature Page to Second Amendment to  
Second Amended and Restated Credit Agreement

UNITED COMMUNITY BANK 

By: /s/ Jeff Wilson    
Name: Jeff Wilson
Title: Vice President

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KeyBank/CV Reit I:  Signature Page to Second Amendment to  
Second Amended and Restated Credit Agreement

WHITNEY BANK dba HANCOCK BANK,
By: /s/ Megan Brearey     
Name:  Megan Brearey 
Title:    Senior Vice President

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KeyBank/CV Reit I:  Signature Page to Second Amendment to  
Second Amended and Restated Credit Agreement

WOODFOREST NATIONAL BANK 

By: /s/ John Ellis     
Name:  John Ellis 
Title:    Senior Vice President

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KeyBank/CV Reit I:  Signature Page to Second Amendment to  
Second Amended and Restated Credit Agreement

RENASANT BANK 

By: /s/ Craig Gardella     
Name: Craig Gardella     
Title: EVP    

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KeyBank/CV Reit I:  Signature Page to Second Amendment to  
Second Amended and Restated Credit Agreement

MEGA INTERNATIONAL COMMERCIAL BANK CO., LTD. SILICON VALLEY BRANCH  

By: /s/ Nian Tyz Yeh     
Name:  Nian Tyz Yeh 
Title:      V.P. & G.M.

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KeyBank/CV Reit I:  Signature Page to Second Amendment to  
Second Amended and Restated Credit Agreement

AMERICAN MOMENTUM BANK 

By: /s/ Porter Smith     
Name: Porter Smith     
Title: Tampa Bay Market President    

KeyBank/CV Reit I:  Signature Page to Second Amendment to  
Second Amended and Restated Credit AgreementEdgarFiling

EXHIBIT 10.1
 
 
SERVICES AGREEMENT
 
February 1, 2017
 
The following Services Agreement (“Agreement”)is entered into by and between Edward Smith (“Contractor”) and SMTC Corporation (“SMTC” or the “Company”),as of the date set forth above. All dollar amounts in this Agreement refer to U.S. funds.
 
1.                 Services. Contractor agrees (i) to begin rendering management services (“Management Services”)to the Company as of February 6, 2017 and (ii) to begin providing services as, and be appointed to the position of, Interim Presidentand Chief Executive Officer of the Company (“CEO Services” and, together with “Management Services,” the“Services”) as of February 17, 2017 (the “CEO Services Start Date”). With respect to the provision of CEOServices, Contractor shall have the duties, authorities, and responsibilities ascribed to the position of Chief Executive Officeras described in the Company’s Second Amended and Restated By-laws. With respect to the provision of Services under this Agreement,Contractor will report directly to the Company’s Board of Directors (the “Board”) and work from the Company’soffices in San Jose, California. All Services will be provided by Contractor in a professional manner and with the level of careand skill ordinarily exercised by members of the same profession currently practicing in the same locality under similar conditions.As of the CEO Services Start Date, Contractor will be elected to the Board. In the event that the Contractor is no longer providingServices to the Company, but Contractor continues to remain a member of the Board, Contractor will be entitled to compensationas a non-employee director under the Company’s director compensation plan.
 
2.                 Charges. For the Services, SMTC shall pay Contractor a monthly fee in the amount of Forty Thousand and 00/100Dollars ($40,000.00), paid on the last business day of each month. During any calendar month in which the Contractor provides Servicesfor less than the full calendar month, the amount of the monthly fee to be paid to the Contractor for such calendar month shallbe pro-rated, as appropriate, to reflect the number of days during such calendar month for which Services were provided by theContractor.
 
3.                 Reimbursement of Travel and Housing Expenses. During the period of time that Contractor provides Servicesto the Company, the Company agrees to reimburse the Contractor for (i) all reasonable out-of-pocket expenses, including meal andtravel expenses, incurred in connection with commuting from his home in Phoenix, Arizona to and from San Jose, California and (ii)all reasonable housing expenses incurred to rent an apartment in San Jose, California. Company also agrees to reimburse Contractorfor any other pre-approved travel or other costs/expenses reasonably and necessarily incurred by Contractor in the course of performingthe Services. SMTC shall pay such reimbursements within thirty (30) calendar days after receiving from Contractor receipts or otherevidence of the business expenses.
 
4.                 Grant of Restricted Stock Units. Contractor will receive an award of restricted stock units of the Companyunder the SMTC 2010 Incentive Plan, as amended (the “LTIP”) having an aggregate award value of $100,000, with the actualnumber of restricted stock units that are awarded being determined by rounding up or down, as appropriate, to the nearest wholenumber (the “RSU Grant”), such RSU Grant to be made to the Contractor on the CEO Services Start Date. The RSU Grantwill vest upon the earlier to occur of (i) the first anniversary of the grant date for the RSU Grant, provided that Contractoris still providing CEO Services to the Company on such vesting date or (ii) a Covered Transaction (as defined in the LTIP). TheRSU Grant shall be subject to the terms and conditions of the LTIP and any specific terms and conditions as determined by the CompensationCommittee of the Board.
 
    
 

     
    5.                 Agreement and No Conflict with Prior Agreements. In connection with providing the Services, Contractor willbecome knowledgeable about confidential and/or proprietary information related to the operations, products and services of SMTCand its subsidiaries. Therefore, Contractor agrees to be bound by those restrictions set forth in Annex A to this Agreement.Similarly, Contractor may have confidential or proprietary information from prior employers and/or entities for which he has providedservices in the past that should not be used or disclosed to anyone at SMTC. SMTC requests that Contractor comply with any existingand/or continuing contractual obligations that he may have with his former employers and/or recipients of his services. By signingthis Agreement, Contractor represents that his provision of Services to SMTC will not breach any agreement Contractor has withany third party.
 
6.                 Code of Ethics and SMTC Policies. SMTC is committed to creating a positive work environment and conductingbusiness ethically. The Contractor will be expected to abide by the Company’s policies and procedures including, but notlimited to, all codes of ethics and SMTC’s Corporate Governance Guidelines.
 
7.                 Mutual Non-Disparagement. Contractor agrees, both during the period that Contractor is providing Servicesto the Company and thereafter, not to knowingly disparage the Company, its subsidiaries or its officers, directors, employees oragents in any manner that could be harmful to it or them or its or their business, business reputation or personal reputation.The Company agrees, both during the period the Contractor is providing Services to the Company and thereafter, not to knowinglydisparage the Contractor in any manner that could be harmful to his business or personal reputation. This paragraph will not beviolated by statements from either party that are truthful, complete and made in good faith in required response to legal processor governmental inquiry.
 
8.                 Termination. Contractor or the Company may terminate this Agreement and Contractor’s Services hereunderwith or without cause at any time upon written notice to the other party. In the event of such termination, (i) the Company shallpay Contractor on a pro-rata basis any fees then due and payable for Services up to and including the date of such terminationand (ii) Contractor shall immediately resign from the Board.
 
9.                 Independent Contractor Status. Contractor’s relationship with Company is as an independent contractor.Nothing contained in this Agreement shall be construed or applied to create a partnership, joint venture, or employment relationship.None of the payments to Contractor under this Agreement will be subject to any tax withholding, and all such payments will be reportedto the appropriate taxing authorities on a Form 1099 basis. Contractor will be responsible for the payment of his federal, stateand local taxes payable with respect to all amounts paid to Contractor under this Agreement, including without limitation and tothe extent legally required of Contractor, any unemployment insurance tax, federal, state, and/or foreign income or excise taxes,federal Social Security (FICA) payments, and disability insurance taxes. Contractor shall make all payments of such taxes whenthe same become due and payable with respect to any amounts paid pursuant to this Agreement. Contractor is not an employee of theCompany, and as such, is not entitled to any employment rights or benefits from the Company, including, without limitation, wages,overtime pay, workers' compensation insurance, disability insurance, retirement or 401(k) plan benefits, medical reimbursementor other fringe benefits plans, unemployment compensation, meal or rest breaks, or vacation or sick pay. Contractor has or willprocure worker’s compensation and any other insurance, as may be required by applicable law.
 
    
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    10.             Indemnification. Contractor will indemnify Company and its subsidiaries, affiliates, officers, directors,stockholders, employees, and agents from and against any losses, costs, fees, or expenses suffered or incurred by Company or itssubsidiaries, affiliates, officers, directors, stockholders, employees, and agents arising out of or relating to Contractor’sfailure to pay any self-employment or other taxes when due. Company will indemnify Contractor from and against any losses, costs,fees, or expenses suffered or incurred by Contractor arising out of or relating to a breach of any term or condition of this Agreementby Company. Company will also indemnify Contractor in connection with Contractor’s performance of the Services in accordancewith the Company’s certificate of incorporation.
 
11.             Governing Law/Venue. This Agreement shall be interpreted in accordance with the laws of the State of Delaware.Any litigation between the parties, including, without limitation, any litigation that is based upon or arises out of this Agreement,shall be filed only in the state courts of the State of Delaware, including the Delaware Court of Chancery (New Castle County).Contractor and the Company hereby agree that they are and shall be subject to the exclusive personal jurisdiction of such courts.Each party acknowledges and agrees that this paragraph constitutes a voluntary and bargained-for agreement between the parties.Each party acknowledges that any matter arising under this Agreement is likely to involve complex and difficult issues and thereforeeach party irrevocably and unconditionally waives any right to a trial by jury.
 
12.             Assignment. Neither Contractor nor Company may assign any of such party’s rights or obligations underthis Agreement. Any assignment in violation of the foregoing shall be deemed null and void. Subject to the limits on assignmentstated above, this Agreement will inure to the benefit of, be binding on, and be enforceable against each of the parties heretoand their respective successors and assigns.
 
13.             Entire Agreement/Modification. This Agreement, together with any exhibits and schedules attached hereto, containsthe entire agreement of the parties regarding its subject matter, and it supersedes all previous agreements, negotiations, proposals,and understandings of the parties, which are of no further force or legal effect. This Agreement can only be amended, modifiedor supplemented by a subsequent written agreement executed by Contractor and an authorized officer of the Company.
 
    
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    14.             Severability. If any term or provision of this Agreement is invalid, illegal, or unenforceable in any jurisdiction,such invalidity, illegality, or unenforceability shall not affect any other term or provision of this Agreement or invalidate orrender unenforceable such term or provision in any other jurisdiction.
 
15.             Authority and Reliance. Each party for that party’s self, heirs, personal representatives, successors,and assigns, hereby represents and warrants that the party has the full capacity and authority to enter into, execute, deliver,and perform this Agreement, that such execution, delivery, and performance does not violate any contractual or other duty or obligationby which that party is bound, and that this Agreement constitutes an agreement binding upon and enforceable against that party.Each party is entering into this Agreement in reliance on each party’s own judgment, and not in reliance on any statementsmade by the other party. Each party warrants and represents that the party is not relying on counsel for any other party for theperformance of any task, provision of any service, or rendering of any advice for any purpose whatsoever, but instead is relyingsolely and exclusively on the party’s own counsel for all matters relating to the terms of this Agreement
 
16.             Counterparts and Delivery. This Agreement may be executed by the parties separately in counterparts, and facsimileor electronic (PDF) copies of the separately-executed Agreement shall, upon exchange by delivery, facsimile, or PDF/email betweenthe parties or their counsel, have the same force and effect as if a mutually-signed, single original agreement had been executed.
 
 
[SIGNATURE PAGE FOLLOWS]
 
 
 
    
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IN WITNESS WHEREOF, the parties haveagreed to and executed this Agreement as of the date set forth above.
 
 
 
	 	 	CONTRACTOR
	 	 	 
	 	 	By:  	/s/ Edward Smith
	 	 	Name: 	Edward Smith
	 	 	 
	 	 	 
	 	 	SMTC CORPORATION
	 	 	 
	 	 	By:	/s/ Clarke Bailey
	 	 	Name: 	Clarke H. Bailey
	 	 	Title:	Chairman of the Board

 
 
 
 
 
 
 
  
 
 
    
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AnnexA
 
For the purposes of this Annex A, the “Restricted Period”means the period during which the Contractor is providing Services to the Company or serves as a member of the Board and the twelve(12) month period commencing immediately after the later to occur of Contractor ceasing to provide Services to the Company or servingas a member of the Board and “Customer” means any person to whom the Company or any of its subsidiaries sells or providesproducts or services at the time the Contractor ceases to provide Services to the Company, or within twelve (12) months prior thereto,or with whom the Company or any of its subsidiaries is, or was within twelve (12) months prior thereto, in negotiation at the timethe Contractor’s provision of Services to the Company is terminated, with a view to selling or providing goods or servicesto such person. For purposes of this Annex A, all terms not defined herein shall have the meaning ascribed to such terms in theAgreement.
 
		1.	Non-Solicitation. During the Restricted Period, the Contractor will not:

 
(a) canvass or solicit or prepare or attempt to canvass or solicit,whether directly or indirectly, for the purpose of selling to a Customer any products or services that are the same or substantiallysimilar to products or services sold by the Company or its subsidiaries to that Customer; or
 
(b) entice, solicit or prepare or attempt to entice or solicit anyofficer, employee, contractor, agent or consultant of the Company or any of its subsidiaries away from employment with or engagementby the Company or any of its subsidiaries.
 
2.                 Non-Disclosure of Confidential Information. The Contractor acknowledges that in the course of providing Servicesto the Company that he will have access to, and will be entrusted with, confidential information concerning the activities, businessoperations, customers and clients of the Company and its subsidiaries, which information is not generally known in the industryin which the Company and its subsidiaries do business (“Confidential Information”) and that the disclosure of any ConfidentialInformation to competitors of the Company or any of its subsidiaries or to other persons or entities would be highly detrimentalto the interests of the Company and its subsidiaries. The Contractor further acknowledges and agrees that the right to maintainconfidential such Confidential Information is a proprietary right that the Company is entitled to protect. Accordingly, the Contractorcovenants and agrees that except as required by law, a court order or similar proceedings (provided that Contractor notifies theCompany immediately upon such compulsion and discloses no more Confidential Information than legally compelled), he will not duringthe period of time during which he is providing Services to the Company or anytime thereafter disclose any such Confidential Informationto any person or entity, nor shall he use the same, except as required for legitimate business purposes in the normal course ofhis provision of Services to the Company. Confidential Information shall not include any information that is or has become publicwithout a violation of this Agreement by Contractor.
 
3.                 Inventions. The Contractor agrees that all right, title and interest in and to any information, trade secrets, inventions,discoveries, developments, derivative works, improvements, research materials and products made or conceived by the Contractoralone or with others during the course of the Contractor’s provision of Services to the Company or relating to the businessor affairs of the Company shall belong exclusively to the Company. The Contractor hereby irrevocably waives in favor of the Companyany and all copyright and moral rights, and irrevocably assigns to the Company any and all legal rights, that the Contractor mayhave in respect of any such materials. The Contractor agrees to execute any assignments and/or acknowledgements as may be requestedby the Company from time to time, at the expense of the Company, without any further remuneration.
 
    
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4.                 Acknowledgement and Agreement. The Contractor acknowledges that the restrictive covenants contained above have beenconsidered by the Contractor and that the restraints and restrictions on his future activities are reasonable in the circumstancesand he hereby irrevocably waives all defenses thereto. The Contractor agrees that, in addition to any other remedies at law thatthe Company may have (which other remedies the Contractor acknowledges to be inadequate to protect the Company’s legitimateinterests), the Company will be entitled to obtain injunctive relief in the event of a breach of any provision of this Annex A.
 
5.                 Notice of Immunity Under the Economic Espionage Act of 1996, as amended by the Defend Trade Secrets Act of 2016.
 
Notwithstanding any other provision of this Agreement:
 
(a)                        Contractor will not be held criminally or civilly liable under any federal or state trade secret law for any disclosureof a trade secret that:
 
(i)                          is made: (A) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney;and (B) solely for the purpose of reporting or investigating a suspected violation of law; or
 
(ii)                        is made in a complaint or other document that is filed under seal in a lawsuit or other proceeding.
 
(b)                        If Contractor files a lawsuit for retaliation by the Company for reporting a suspected violation of law, Contractor maydisclose the Company’s trade secrets to its attorney and use the trade secret information in the court proceeding if Contractor:
 
(i)                          files any document containing the trade secret under seal; and
 
(ii)                        do not disclose the trade secret, except pursuant to court order.
 
6.                 Scope of Application. The foregoing restrictions shall apply to any action taken by the Contractor, directly or indirectly,alone or in concert or in partnership with others, whether as an agent, representative, principal, shareholder, employee, consultant,director or in any other capacity.
 
 
 
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