Document:

EX-10.2

 Exhibit 10.2 
 AMENDED AND RESTATED 
 EMPLOYMENT AGREEMENT 

(John Elwood) 
 THIS EMPLOYMENT AGREEMENT (this “Agreement”) is effective as of August 14, 2012 (the “Effective Date”), by and between Meade Instruments Corp., a Delaware corporation (the
“Company”), and John Elwood (“Executive”). 
 WITNESSETH: 

WHEREAS, the Company and Executive are parties to that certain Employment Agreement dated effective as of February 1, 2010, as
amended by that certain Amendment to Employment Agreement made as of June 29, 2011 (collectively, the “Original Agreement”). 
 WHEREAS, the parties desire to amend and restate the Original Agreement in its entirety on the terms and conditions set forth below. 

AGREEMENT: 
 NOW, THEREFORE, in consideration of the mutual promises and covenants set forth herein, the parties hereby amend the Original Agreement in its entirety and agree as follows: 

1. Term. The Company hereby employs Executive, and Executive hereby accepts such employment, for an initial term commencing as of
the Effective Date and ending on February 28, 2013, unless sooner terminated in accordance with the provisions of Section 5; with such employment to continue thereafter for successive one-year periods in accordance with the terms of this
Agreement on March 1, 2013 and each anniversary thereof (subject to termination as aforesaid) unless either party notifies the other party in writing not less than ninety (90) days before expiration of the initial term and each annual
renewal thereof (the period during which Executive is employed hereunder being hereinafter referred to as the “Term”) of an intent not to renew this Agreement. 
 2. Services and Exclusivity of Services. So long as this Agreement shall continue in effect, Executive shall devote Executive’s full business time, energy and ability exclusively to the
business, affairs and interests of the Company and matters related thereto, shall use Executive’s best efforts and abilities to promote the Company’s interests and shall perform the services contemplated by this Agreement in accordance
with policies established by and under the direction of the Company’s Board of Directors (the “Board”) and/or the Company’s Chief Executive Officer. 
 Without the prior express written authorization of the Board, Executive shall not, directly or indirectly, during the term of this Agreement render services to any other person or firm for compensation or
engage in any activity competitive with or adverse to the Company’s business. Executive may serve as a director or in any other capacity of any business enterprise or any nonprofit or governmental entity or trade association, provided in each
case that such service is approved in advance of such service and in writing by the Board. Notwithstanding the foregoing, Executive may make and manage personal business investments of Executive’s choice and serve in any capacity with any
civic, educational or charitable organization without seeking the approval of the Board, provided that such activities and services do not materially interfere or conflict with the performance of the duties hereunder or create any conflict of
interest with such duties. 

 3. Duties and Responsibilities. Executive shall serve as the Chief Financial Officer
of the Company for the duration of this Agreement. In the performance of Executive’s duties, Executive shall report directly to the Company’s Chief Executive Officer and shall be subject to the direction of the Company’s Chief
Executive Officer and to such limits on Executive’s authority as the Company’s Chief Executive Officer may from time to time impose. During the term of this Agreement, Executive shall be based at the Company’s principal executive
offices in Orange County, California. Executive agrees to observe and comply with the rules and regulations of the Company and agrees to carry out and perform orders, directions and policies of the Company and the Board and the Company’s Chief
Executive Officer as they may be, from time to time, stated in writing. 
 4. Compensation. 

(a) Base Compensation. During the term of this Agreement, the Company agrees to pay Executive an annual base salary at the rate of
One Hundred Seventy Thousand Dollars ($170,000) per year, payable in accordance with the Company’s practices in effect from time to time (the “Base Salary”). 
 (b) Incentive Compensation. 
 (i) Executive shall also be entitled to a
cash bonus if certain targets are achieved. The calculation of such cash bonus amount shall be determined by the Company’s compensation committee within the first sixty (60) days of each fiscal year; provided, however, that for the
Company’s FY2013 the cash bonus shall be calculated as set forth in Section 4(b)(ii) below. 
 (ii) If the
Company’s EBITDA is positive for FY2013, then Executive shall be entitled to a cash bonus equal to 21.25% of such EBITDA up to a maximum cash bonus of $17,000. 
 Any such cash bonus shall be paid to Executive after the last day of FY2013 and prior to April 15, 2013. For purposes of this Agreement, the following terms shall have the following meanings:

 “FY2013” means the Company’s fiscal year ending February 28, 2013. 

“EBITDA” means an amount equal to the Net Income (without taking into account any payment to Executive under this
Section 4(b)(ii) and any bonus payment to John Elwood) for FY2013 plus the provision for interest, income taxes and plus the amount of Non-Cash Items. 
 “Net Income” means the Company’s net income as determined in accordance with generally accepted accounting principles in the United States, determined on a consistent basis). 

  
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 “Non-Cash Items” means the following items to the extent included in Net Income
for FY2013: 
 (A) depreciation and amortization expense; 

(B) stock-based compensation expense; and 
 (C) impairment of inventory, goodwill and/or intangibles charges. 
 (iii) If
Executive is terminated by the Company for any reason or Executive voluntarily terminates his employment for any reason at any time prior to end of FY2013, Executive shall not be entitled to any payment under Section 4(b)(ii); provided,
however, if after November 1, 2012, Executive is terminated by the Company without Cause, he terminates his employment for Good Reason, he dies, he suffers a Disability, or this Agreement is not renewed by the Company, then the Company shall
pay Executive or his estate (in the case of his death) any payment which would be due and payable under Section 4(b)(ii) as if he had remained employed by the Company throughout the end of FY2013. Any such payment shall be paid to Executive
after the last day of FY2013 and prior to April 15, 2013. 
 (c) Other Benefits. Executive shall also be entitled to
all rights and benefits for which Executive may otherwise be eligible under any applicable bonus plan, incentive agreement, stock option or equity incentive plan, participation or extra compensation plan, pension plan, profit-sharing plan, life,
disability, or insurance plan or policy or other plan or benefit that the Company may provide for Executive or (provided Executive is eligible to participate therein) for employees of the Company generally, as from time to time in effect, during the
term of this Agreement. 
 (d) Perquisites. Executive shall be entitled to three (3) weeks paid vacation each
twelve-month period, which shall accrue on a pro rata basis from the date employment commences under this Agreement. Vacation time will continue to accrue so long as Executive’s total accrued vacation does not exceed six (6) weeks. Should
Executive’s accrued vacation time reach six (6) weeks, Executive will cease to accrue additional vacation until Executive’s accrued vacation time falls below this level. All vacation time shall be subject to the plans, policies,
programs and practices as in effect generally with respect to other peer employees of the Company. 
 5. Termination.
This Agreement and all obligations hereunder (except the obligations contained in Sections 7, 8, 9, 10 and 11 (Confidential Information, Inventions and Patents, Non-Competition, No Solicitation of Customers, and Noninterference with Employees) which
shall survive any termination hereunder) shall terminate on the end of the Term or upon the earliest to occur of any of the following: 
 (a) Voluntary Termination. Executive’s employment shall terminate upon the voluntary termination by Executive or retirement from the Company in accordance with the normal retirement policies
of the Company. In such instance, all obligations hereunder to Executive (or Executive’s heirs or legal representatives) shall cease, other than for payment of the sum of (i) Executive’s annual Base Salary through the date of
termination and (ii) any accrued vacation pay, in each case to the extent not theretofore paid (the sum of the amounts described in clauses (i) and (ii) shall be hereinafter referred to as the “Accrued Obligations”), which
shall be paid to Executive or Executive’s estate or beneficiary, as applicable, in a lump sum in cash within 30 days after the date of termination or any earlier time required by applicable law. 

  
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 (b) Death or Disability of Executive. Executive’s employment shall terminate
upon the death or Disability (as defined below) of Executive. In such instance, except as set forth below or as provided in Section 4(b)(ii), all obligations hereunder to Executive (or Executive’s heirs or legal representatives) shall
cease, other than for (i) payment of the sum of the Accrued Obligations, which shall be paid to Executive or Executive’s estate or beneficiary, as applicable, in a lump sum in cash within 30 days after the date of termination or any
earlier time required by applicable law; and (ii) payment to Executive or Executive’s estate or beneficiary, as applicable, of any amount due pursuant to the terms of any applicable benefit plan. For the purposes of this Agreement,
Disability shall mean Executive is unable to engage in any substantial gainful activity (including, without limitation, the performance of Executive’s duties under this Agreement on a full-time basis by reason of any medically determinable
physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of at least six (6) months as determined by a physician selected by the Company or its insurers and acceptable to Executive or
Executive’s legal representative (such agreement as to acceptability not to be withheld unreasonably). 
 (c) Cause.
The Company may terminate Executive’s employment and all of Executive’s rights to receive Base Salary and any other benefits hereunder for Cause. For purposes of this Agreement, the term “Cause” shall be defined as any of the
following; provided, however, that the Company must determine the presence of such Cause in good faith: 
 (i) Willful
misconduct by Executive, including, without limitation (A) Executive’s material breach of any duties and responsibilities under this Agreement (other than as a result of incapacity due to Executive’s disability),
(B) Executive’s commission of a material act of fraud upon the Company, or (C) Executive’s immoderate use of alcoholic beverages or narcotics or other substance abuse. For purposes of this Section 5(c), no act or failure to
act on the part of Executive shall be considered “willful” unless done, or omitted to be done, by Executive in bad faith or without reasonable belief that Executive’s action or omission was in the best interest of the Company;

 (ii) Executive’s conviction by, or entry of a plea of guilty or nolo contendere in, a court of competent and final
jurisdiction for a felony or any crime which adversely affects the Company and/or its reputation in the community or which involves moral turpitude or is punishable by imprisonment in the jurisdiction involved; or 

(iii) Executive’s willful violation of any duty of loyalty to the Company or a material breach of Executive’s fiduciary duties
to the Company. 
 Notwithstanding anything to the contrary in the foregoing, no termination or other action shall be
considered to be for Cause under this Agreement unless (y) the Executive first shall have received at least 15 days written notice (the “Company Notice”) setting forth the reasons for the Company’s intention to terminate or take
other action; and (z) the Executive shall have failed to cure or remedy the event constituting the Cause within 30 days after the Executive’s receipt of the Company Notice. 

  
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 (d) Without Cause. Notwithstanding any other provision of this Agreement, the Company
may terminate Executive’s employment with the Company without Cause at any time, but in the event of such termination without Cause, Executive shall be entitled to receive a lump sum payment equal to the sum of (i) Executive’s then
current monthly Base Salary for a period of twelve months, and (ii) funds equal to the aggregate amount of the Company sponsored portion of Executive’s group medical and dental insurance coverage for Executive and Executive’s spouse
and/or family (if applicable), as in place immediately before notice of the termination, for a period of 18 months, as governed by the Consolidated Omnibus Budget Reconciliation Act of 1984, as amended (“COBRA”), effective June 1,
2006. The Company will provide Executive with a COBRA notice, which will include the insurance premium rate information for coverage for Executive under COBRA. It will be Executive’s responsibility and obligation to pay the applicable COBRA
premiums for such coverage. All payments set forth in this Section 5(d) shall be paid on or before the earlier of 10 days after the date the termination occurs or in compliance with applicable law; provided, however, that Executive shall not be
permitted, directly or indirectly, to designate the Executive’s taxable year of the payment. 
 (e) Non-Renewal. In
the event Executive is terminated pursuant to a notice of non-renewal tendered by the Company to Executive, then Executive shall be entitled to receive payment equal to and on the same terms and conditions and at the same times as that paid to
Executive under Section 5(d) hereof. In the event Executive is terminated pursuant to a notice of non-renewal tendered by Executive to the Company then such termination shall be treated as a voluntary termination by Executive without Good
Reason. 
 (f) Good Reason. In the event Executive voluntarily terminates Executive’s employment pursuant to
Section 5(a) hereof, and such termination is made by Executive for Good Reason (as defined below), then Executive shall be entitled to receive payment equal to and on the same terms and conditions and at the same times as that paid to Executive
under Section 5(d) hereof; provided, however, that before Executive may terminate his or her employment pursuant to this Section 5(f) and be entitled to receive the payments set forth in Section 5(d), the Company shall have the
opportunity to remedy the conditions constituting Good Reason for a period of 30 days after the receipt of written notice by Executive specifying (in reasonable detail) the facts and circumstances for such Good Reason termination and the corrective
action Executive believes is required to remedy such action; provided further, that such notice must be delivered in writing to the Board hereunder no later than ninety (90) days after the time Executive first becomes aware of the facts and
circumstances giving rise to Executive’s notice of Good Reason hereunder. For purposes of this Agreement “Good Reason” shall be defined as any of the following: 

(i) The material diminution of authority, duties or responsibilities of Executive under this Agreement. 

(ii) Any material reduction by the Company to Executive’s Base Salary as in effect on the date hereof or as the same may be
increased from time-to-time. 
 (iii) Any material change in the geographic location at which Executive must perform his duties
under this Agreement, which shall be defined for purposes of the Agreement, as the Company requiring Executive to be based at any office or location which increases the distance from Executive’s home to the office or location by more than 45
miles from the distance in effect at the beginning of the term of this Agreement. 
 6. Business Expenses. During the
term of this Agreement, to the extent that such expenditures satisfy the criteria under the Internal Revenue Code for deductibility by the Company (whether or not fully deductible by the Company) for federal income tax purposes as ordinary and
necessary business expenses, the Company shall reimburse Executive promptly for reasonable business expenditures, including travel, entertainment, parking, business meetings, and professional dues, made and substantiated in accordance with the
reasonable policies, practices and procedures established from time to time by the Company generally with respect to other peer employees and incurred in the pursuit and furtherance of the Company’s business and goodwill. Such reimbursements
shall be made in accordance with Internal Revenue Code Section 409A, including the following provisions: (i) the amount of any such expense reimbursement provided during one of Executive’s tax years shall not affect any expenses
eligible for reimbursement in any other taxable year; (ii) the reimbursement of the eligible expense shall be made no later than the last day of Executive’s tax year that immediately follows the tax year in which the expense was incurred;
and (iii) Executive’s right to any reimbursement shall not be subject to liquidation or exchange for another benefit or payment. 

  
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 7. Confidential Information. Executive acknowledges that the nature of
Executive’s engagement by the Company is such that Executive shall have access to information of a confidential nature which has great value to the Company and which constitutes a substantial basis and foundation upon which the business of the
Company is based. Such information includes financial, manufacturing and marketing data, techniques, processes, formulas, developmental or experimental work, work in process, methods, trade secrets (including, without limitation, customer lists and
lists of customer sources), or any other secret or confidential information relating to the products, services, customers, sales or business affairs of the Company or any of its subsidiaries (the “Confidential Information”). Executive
acknowledges that the Confidential Information constitutes trade secrets of the Company. Executive shall keep all such Confidential Information in confidence during the term of this Agreement and at any time thereafter and shall not disclose any of
such Confidential Information to any other person, except to the extent such disclosure is (i) necessary to the performance of this Agreement and in furtherance of the Company’s best interests, (ii) required by applicable law,
(iii) lawfully obtainable from other sources, or (iv) authorized by the Company. Upon termination of Executive’s employment with the Company, Executive shall deliver to the Company all documents, records, notebooks, work papers, and
all similar material containing any of the foregoing information, whether prepared by Executive, the Company or anyone else. 

8. Inventions and Patents. Except as may be limited by Section 2870 of the California Labor Code, all inventions, designs,
improvements, patents, copyrights and discoveries conceived by Executive during the term of this Agreement which are useful in or directly or indirectly related to the business of the Company or to any experimental work carried on by the Company,
shall be the property of the Company. Executive will promptly and fully disclose to the Company all such inventions, designs, improvements, patents, copyrights and discoveries (whether developed individually or with other persons) and shall take all
steps necessary and reasonably required to assure the Company’s ownership thereof and to assist the Company in protecting or defending the Company’s proprietary rights therein. 

Executive acknowledges hereby receipt of written notice from the Company pursuant to California Labor Code Section 2872 that this
Agreement (to the extent it requires an assignment or offer to assign rights to any invention of Executive) does not apply fully to an invention which qualifies fully under California Labor Code Section 2870. 

9. Non-Competition. Executive agrees that, during the term of Executive’s employment, Executive shall not, directly or
indirectly, whether as an owner, partner, shareholder, agent, employee, creditor, consultant, or otherwise, promote, participate or engage in any activity or other business competitive with the business of the Company or any of its subsidiaries.

  
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 10. Non-Solicitation of Customers. Executive acknowledges that the Confidential
Information constitutes trade secrets of the Company, and Executive acknowledges that the following is necessary to protect the Confidential Information: Executive agrees that for a period of 12 months after the termination of employment with the
Company or any of its subsidiaries, Executive will not, on behalf of Executive or on behalf of any other individual, association or entity, call on any of the customers of the Company or any of its subsidiaries for the purpose of soliciting or
inducing any of such customers to acquire (or providing to any of such customers) any product or service provided by the Company or any of its subsidiaries, nor will Executive in any way, directly or indirectly, as agent or otherwise, in any other
manner solicit, influence or encourage such customers to take away or to divert or direct their business to Executive or any other person or entity by or with which Executive is employed, associated, affiliated or otherwise related. 

11. Noninterference with Employees. Executive acknowledges that the Confidential Information constitutes trade secrets of the
Company, and Executive acknowledges that the following is necessary to protect the Confidential Information: Executive agrees that during the term hereof and for a period of 12 months thereafter, Executive will not, directly or indirectly, solicit
any employee of the Company or any of its subsidiaries to leave such employment. 
 12. Remedies. The parties hereto
agree that the services to be rendered by Executive pursuant to this Agreement, and the rights and privileges granted to the Company pursuant to this Agreement, are of a special, unique, extraordinary and intellectual character, which gives them a
peculiar value, the loss of which cannot be reasonably or adequately compensated in damages in any action at law, and that a breach by Executive of any of the terms of this Agreement will cause the Company great and irreparable injury and damage.
Executive hereby expressly agrees that the Company shall be entitled to the remedies of injunction, specific performance and other equitable relief to prevent a breach of this Agreement by Executive. This Section 12 shall not be construed as a
waiver of any other rights or remedies which the Company may have for damages or otherwise. 
 13. Severability. If any
provision of this Agreement is held to be unenforceable for any reason, it shall be adjusted rather than voided, if possible, to achieve the intent of the parties to the extent possible. In any event, all other provisions of this Agreement shall be
deemed valid and enforceable to the extent possible. 
 14. Succession. This Agreement shall inure to the benefit of and
be binding upon the Company and its successors and assigns and any such successor or assignee shall be deemed substituted for the Company under the terms of this Agreement for all purposes. As used herein, “successor” and
“assignee” shall include any person, firm, corporation or other business entity which at any time, whether by purchase, merger or otherwise, directly or indirectly acquires the stock of the Company or to which the Company assigns this
Agreement by operation of law or otherwise. The obligations and duties of Executive hereunder are personal and otherwise not assignable. 
 15. Notices. Any notice or other communication provided for in this Agreement shall be in writing and sent if to the Company to its principal executive office at: 

 

			
		 	 Meade Instruments Corp.
 27
Hubble
 Irvine, California 92618

Phone: (949) 451-1450; Facsimile: (949) 451-1460

Attention: Chief Executive Officer

  
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 or at such other address as the Company may from time to time in writing designate, and if to Executive at
such address as Executive may from time to time in writing designate. Each such notice or other communication shall be effective (i) if given by telecommunication, when transmitted to the applicable number so specified in (or pursuant to) this
Section and a verification of receipt is received, (ii) if given by mail, three days after such communication is deposited in the mails with first class postage prepaid, addressed as aforesaid or (iii) if given by any other means, when
actually delivered at such address. 
 16. Entire Agreement. This Agreement contains the entire agreement and final
understanding of the parties relating to the subject matters hereof and shall supersede and replace any prior agreements (including, without limitation, any prior employment agreements), undertakings, negotiations, commitments, and practices
relating to Executive’s employment with the Company, whether written or oral. Except as contained herein, any representation, promise or agreement not specifically included in this Agreement shall not be binding upon or enforceable against
either party. This Agreement is an integrated agreement. 
 17. Amendments. No amendment or modification of the terms of
this Agreement shall be valid unless made in writing and duly executed by both parties. 
 18. Waiver. No failure on the
part of any party to exercise or delay in exercising any right hereunder shall be deemed a waiver thereof or of any other right, nor shall any single or partial exercise preclude any further or other exercise of such right or any other right.

 19. Governing Law. This Agreement, and the legal relations between the parties, shall be governed by and construed in
accordance with the laws of the State of California without regard to conflicts of law doctrines All actions or proceedings under or relating to this Agreement will be resolved in a state or federal court located in Orange County, California;
provided, however, that in the Company’s discretion, such an action may be heard in some other place designated by it if necessary to acquire jurisdiction over third persons so that the dispute can be resolved in one action. Each party hereby
(i) agrees to submit to the exclusive jurisdiction of the federal and state courts located in Orange County, California, (ii) agrees to appear in any such action, (iii) consents to the exclusive jurisdiction of such courts and
(iv) waives any objections it might have as to exclusive venue in any such court. Service of process may be made in any action, suit or proceeding by mailing or delivering a copy of such process to a party at its address and in the manner set
forth in Section 15. 

  
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 20. Waiver of Jury Trial. 

THE COMPANY AND EXECUTIVE HEREBY AGREE TO WAIVE THEIR RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON,
ARISING OUT OF OR RELATED TO THIS AGREEMENT, THE EMPLOYMENT RELATIONSHIP BETWEEN THEM OR ANY DEALINGS BETWEEN THEM RELATING TO THE SUBJECT MATTER OF THIS AGREEMENT OR SUCH RELATIONSHIP. The scope of this waiver is intended to be all-encompassing of
any and all disputes that may be filed in any court or that relate to the subject matter of this Agreement, including without limitation, contract claims, tort claims, breach of duty claims, wrongful termination claims, claims for discharge in
violation of public policy, claims of discrimination and all other common law and statutory claims, to the maximum extent permitted by law. The Company and Executive each acknowledge that this waiver is a material inducement to enter into this
Agreement, that each has already relied on the waiver in entering into this Agreement, and that each will continue to rely on the waiver in their related future dealings. THE COMPANY AND EXECUTIVE FURTHER WARRANT AND REPRESENT THAT EACH HAS HAD AN
OPPORTUNITY TO REVIEW THIS WAIVER WITH ITS LEGAL COUNSEL, AND THAT EACH KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING SUCH OPPORTUNITY TO CONSULT WITH LEGAL COUNSEL. THIS WAIVER IS IRREVOCABLE, MEANING THAT IT MAY NOT BE MODIFIED
EITHER ORALLY OR IN WRITING. THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT MODIFICATIONS TO OR EXTENSIONS OF THIS AGREEMENT. In the event of arbitration or litigation, this Agreement may be filed as a written consent to arbitration or to a trial by the
court. 
 21. Arbitration. As a material inducement to enter into this Agreement, Executive and the Company each hereby
agree that any “Claims” or “Controversies” (as defined below) arising out of or in respect to this Agreement (or its validity, interpretation or enforcement), or Executive’s employment or termination, that Executive may have
against the Company or it officers, directors, employees, or agents, in their capacity as such, or that the Company may have against Executive, shall be resolved solely through binding arbitration. Executive and the Company each hereby acknowledge
that this agreement to arbitrate means that Executive and the Company are relinquishing his/her/its rights to either a jury trial or court trial for the resolution of any claims that Executive and the Company may have against the other. 

“Claims” or “Controversies” arising out of this Agreement or Executive’s employment or termination means and
includes all claims for breach of this Agreement, harassment and/or discrimination (including sexual harassment and harassment or discrimination based on race, color, religion, age, sex, sexual orientation, ancestry, national origin, marital status,
military service, pregnancy, physical or mental disability, medical condition or any other protected class or condition), breach of any contract or covenant (express or implied), tort claims, wrongful termination, whistle-blowing and all other
claims relating to this Agreement or Executive’s employment or termination, except that claims covered by the Workers’ Compensation Act and claims for unemployment benefits are not covered by this agreement to arbitrate. 

All Claims or Controversies shall be submitted to a single neutral arbitrator. The arbitration shall take place in Orange County,
California, unless otherwise mutually agreed. The arbitrator shall be mutually agreed-upon by Executive and the Company. If Executive and the Company cannot agree upon an arbitrator, the selection process shall be governed by the employment
arbitration rules and procedures of the American Arbitration Association (“AAA”). Regardless of the arbitrator chosen, the arbitration proceedings shall be governed by the then current AAA procedural rules, except that if a contrary rule
exists: (1) all monetary or provisional remedies available under applicable state or federal statutory law or common law will remain available to both parties; (2) except as mutually agreed upon by the parties, there will be no limitation
on discovery beyond that which exists in cases litigated in Orange County Superior Court; and (3) the California Rules of Evidence shall apply to the arbitration hearing. In connection with any arbitration proceeding commenced hereby, the
prevailing party shall be entitled to reimbursement of its reasonable attorney’s fees and costs, including arbitrator fees. This agreement to arbitrate and arbitration procedure is intended to be the exclusive method of resolving all Claims or
Controversies as described above between Executive and the Company and judgment upon the award rendered by the arbitrator hereunder may be entered in any court having jurisdiction thereof. 

  
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 22. Withholding. All compensation payable hereunder, including salary and other
benefits, shall be subject to applicable taxes, withholding and other required, normal or elected employee deductions. 
 23.
Counterparts. This Agreement and any amendment hereto may be executed in one or more counterparts. All of such counterparts shall constitute one and the same agreement and shall become effective when a copy signed by each party has been
delivered to the other party. 
 24. Headings. Section and other headings contained in this Agreement are for convenience
of reference only and shall not affect in any way the meaning or interpretation of this Agreement. 
 25. Drafting. The
parties hereto each hereby waives the benefit of any statute or rule of law or judicial decision, which would otherwise require that the provisions of this Agreement be construed or interpreted most strongly against the party responsible for the
drafting thereof. 
 26. Compliance with Section 409A. 

(a) Generally. The Company and Executive each acknowledge and agree that it is intended that any amounts payable hereunder as well
as the Company’s and Executive’s exercise of authority or discretion hereunder shall either be exempt from or comply with Section 409A of the Internal Revenue Code of 1986 (the “Code”), as amended (including the Treasury
regulations and other published guidance relating thereto) (“Section 409A”) so as not to subject Executive to payment of any interest or additional tax imposed under Section 409A. To the extent that any amount payable under this
Agreement would trigger the additional tax imposed by Section 409A, this Agreement shall be deemed to be modified to avoid such additional tax yet preserve (to the nearest extent reasonably possible) the intended benefit payable to Executive.

 (b) Specified Employee. Notwithstanding anything to the contrary in this Agreement, if Executive
is a “specified employee” within the meaning of Section 409A at the time of Executive’s termination of employment (other than due to death), and the payments to Executive, if any, pursuant to Sections 4(b)(iii) or 5(d) of this
Agreement, (including pursuant to Sections 5(e) or 5(f) by reference to Section 5(d)), when considered together with any other severance payments or separation benefits are considered to provide for the “deferral of compensation” (within
the meaning of Section 409A and the regulations and other guidance promulgated thereunder) (together, the “Deferred Compensation Separation Benefits”) will not and could not under any circumstances, regardless of when such termination
occurs, be paid in full after the later of: (i) two and one-half (2 1/2) months following the end of the Company’s taxable year in which such termination occurs, or (ii) two and
one-half (2 1/2) months following the end of Executive’s taxable year in which such termination occurs, then only that portion of the Deferred Compensation Separation Benefits which does not exceed the
Section 409A Limit (as defined below) may be made within the first six (6) months following Executive’s termination of employment in accordance with the payment schedule applicable to each payment or benefit. For these purposes, each
severance payment and other payment described in this Section 26(b) is hereby designated as a separate payment and will not collectively be treated as a single payment. Any portion of the Deferred Compensation Separation Benefits in excess of
the Section 409A Limit shall accrue and, to the extent such portion of the Deferred Compensation Separation Benefits would otherwise have been payable within the first six (6) months following Executive’s termination of employment,
will become payable (without interest) on the first payroll date that occurs on or after the date six (6) months and one (1) day following the date of Executive’s termination. All subsequent Deferred Compensation Separation Benefits,
if any, will be payable in accordance with the payment schedule applicable to each payment or benefit. Notwithstanding anything herein to the contrary, if Executive dies following Executive’s termination of employment but prior to the six
(6) month anniversary of Executive’s termination, then any payments delayed in accordance with this paragraph will be payable (without interest) in a lump sum as soon as administratively practicable after the date of Executive’s death
and all other Deferred Compensation Separation Benefits will be payable in accordance with the payment schedule applicable to each payment or benefit. 

  
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 (c) Section 409A Limit. For purposes of this Agreement, “Section 409A
Limit” will mean the lesser of two (2) times: (i) Executive’s annualized compensation based upon the annual rate of pay paid to Executive during Executive’s taxable year preceding the taxable year of Executive’s
termination of employment as determined under Treasury Regulation 1.409A-1(b)(9)(iii)(A)(1) and any Internal Revenue Service guidance issued with respect thereto; or (ii) the maximum amount that may be taken into account under a qualified plan
pursuant to Section 401(a)(17) of the Code for the year in which Executive’s termination of employment occurs. 
 (d)
Separation From Service. For purposes of this Agreement, references to termination of Executive’s employment or similar phrases shall mean “separation from service,” within the meaning of Section 409A(a)(2)(A)(i) of the
Code. 
 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written. 

 

			
	MEADE INSTRUMENTS CORP.
		
	By:    	 	 /s/ Steven Murdock

		 	Steven Murdock
		 	Chief Executive Officer
	
	EXECUTIVE
	
	 /s/ John Elwood

	John Elwood
	 (ADDRESS)

	  

	  

  
 11Amendment No. 5 to the Second Amended and Restated Credit and Security Agreement

 EXHIBIT 10.1 
 THE USE OF THE FOLLOWING NOTATION IN THIS EXHIBIT INDICATES THAT A CONFIDENTIAL PORTION HAS BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT AND THE OMITTED MATERIAL HAS BEEN FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION: [***]. 
 AMENDMENT NO. 5 TO 

SECOND AMENDED AND RESTATED CREDIT AND SECURITY AGREEMENT 
 THIS AMENDMENT NO. 5 TO SECOND AMENDED AND RESTATED CREDIT AND SECURITY AGREEMENT, dated as of January 11, 2012 (this “Amendment”), is by and among: 

(a) RED BIRD RECEIVABLES, LLC, a Delaware limited liability company formerly known as Red Bird Receivables, Inc., a
Delaware corporation (“Borrower”); 
 (b) INTERNATIONAL PAPER COMPANY, a New York
corporation (“International Paper” and, together with Borrower, the “Loan Parties” and each, a “Loan Party”), as Servicer; 

(c) JUPITER SECURITIZATION COMPANY LLC, a Delaware limited liability company as successor by merger to Park Avenue
Receivables Company LLC (together with its successors, “Jupiter”), and JPMORGAN CHASE BANK, N.A., in its capacity as a Liquidity Bank to Jupiter (together with its successors, “JPMorgan” and, together
with Jupiter, the “Jupiter Group”); 
 (d) STARBIRD FUNDING CORPORATION, a Delaware
corporation (together with its successors, “Starbird”), and BNP PARIBAS, ACTING THROUGH ITS NEW YORK BRANCH, in its capacity as a Liquidity Bank to Starbird (together with its successors, “BNP Paribas”
and, together with Starbird, the “Starbird Group”); 
 (e) CAFCO, LLC, a Delaware limited
liability company (together with its successors, “CAFCO”), and CITIBANK, N.A., in its capacity as a Liquidity Bank to CAFCO (together with its successors, “Citibank” and, together with CAFCO, the
“CAFCO Group”); 
 (f) WORKING CAPITAL MANAGEMENT CO., L.P., a California limited
partnership (together with its successors, “WCM”), and MIZUHO CORPORATE BANK, LTD., in its capacity as a Liquidity Bank to WCM (together with its successors, “Mizuho” and, together with WCM, the
“WCM Group”); 
 (g) ATLANTIC ASSET SECURITIZATION LLC, a Delaware limited liability
company (together with its successors, “Atlantic”), and CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK (f/k/a CALYON NEW YORK BRANCH), in its capacity as a Liquidity Bank to Atlantic (together with its successors,
“CACIB” and, together with Atlantic, the “Atlantic Group”); 

(h) BANK OF AMERICA, N.A., a national association (together with its successors, “BOA”) in its
capacity as a Liquidity Bank (the “BOA Group”); 
 (i) JPMORGAN CHASE BANK, N.A., in its
capacity as agent for the Jupiter Group (together with its successors in such capacity, the “Jupiter Agent” or a “Co-Agent”), 

 
BNP PARIBAS, ACTING THROUGH ITS NEW YORK BRANCH, in its capacity as agent for the Starbird Group (together with its successors in such capacity, the “Starbird Agent” or a
“Co-Agent”), CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK, in its capacity as agent for the Atlantic Group (together with its successors in such capacity, the “Atlantic Agent” or a
“Co-Agent”), MIZUHO CORPORATE BANK, LTD. (the “WCM Agent” or a “Co-Agent”), CITIBANK, N.A. in its capacity as agent for the CAFCO Group (together with its successors in such
capacity, the “CAFCO Agent” or a “Co-Agent”) and BANK OF AMERICA, N.A. in its capacity as agent for the BOA Group (together with its successors in such capacity, the “BOA Agent”
or a “Co-Agent”); and 
 (j) CITICORP NORTH AMERICA, INC.
(“CNAI”), as administrative agent for each of the Groups and the Co-Agents (in such capacity, together with any successors thereto in such capacity, the “Administrative Agent” and together with each of
the Co-Agents, the “Agents”). 
 Capitalized terms used and not otherwise defined herein shall have the meanings
attributed thereto in the Credit Agreement (as defined below). 
 PRELIMINARY STATEMENTS 

WHEREAS, the parties hereto (other than BOA), together with GOTHAM FUNDING CORPORATION, a Delaware corporation
(“Gotham”) and THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., NEW YORK BRANCH, in its capacity as a Liquidity Bank to Gotham (“BTMU”, and, together with Gotham, the “Gotham Group”) and
in its capacity as agent for the Gotham Group (together with its successors in such capacity, the “Gotham Agent”), are parties to that certain Second Amended and Restated Credit and Security Agreement, dated as of
March 13, 2008, as heretofore amended (and as hereby and hereafter amended, restated or otherwise modified from time to time, the “Credit Agreement”); 

WHEREAS, no Loans are outstanding on the date hereof; 

WHEREAS, the Liquidity Termination Date for each of the Groups party to the Credit Agreement is scheduled to occur on
January 11, 2012, and each Group other than the Gotham Group desires to extend the Liquidity Termination Date for each such Group as set forth herein; 
 WHEREAS, as a consequence of the foregoing, the Liquidity Termination Date for the Gotham Group will occur on January 11, 2012 and, by operation of the definition thereof, the Facility
Termination Date for Gotham will occur on January 11, 2012, and accordingly, pursuant to the terms of the Credit Agreement, as of January 11, 2012, Gotham will cease to be a Conduit, and BTMU will cease to be a Liquidity Bank, the Gotham
Agent and a Co-Agent, and the Gotham Group will cease to be a Group under the Credit Agreement; 
 WHEREAS, BOA
wishes to become a Liquidity Bank and a Co-Agent, under the Credit Agreement on the terms and subject to the conditions hereinafter set forth; 
 WHEREAS, Jupiter wishes to amend the calculation of the CP Rate applicable to Jupiter on the terms and subject to the conditions hereinafter set forth; 

WHEREAS, in addition, the Loan Parties desire to amend the Credit Agreement as hereinafter set forth; and 

  
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 WHEREAS, the Agents are willing to agree to such amendments on the terms and
subject to the conditions set forth in this Amendment; 
 NOW, THEREFORE, in consideration of the foregoing
premises and the mutual agreements herein contained and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows: 

1. Amendments. Effective on the date hereof, upon satisfaction of each of the conditions precedent set forth in Section 3
below: 
 1.1. The front page of the Credit Agreement is hereby amended by deleting the references to “THE BANK OF
TOKYO-MITSUBISHI UFJ, LTD, NEW YORK BRANCH, AS GOTHAM AGENT” and “CITICORP NORTH AMERICA, INC., AS CAFCO AGENT AND AS ADMINISTRATIVE AGENT” and inserting below the Starbird Agent the following: 

CITIBANK, N.A.,  
 AS CAFCO AGENT 
 MIZUHO CORPORATE BANK, LTD., 

AS WCM AGENT 
 CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK, 
 AS ATLANTIC AGENT

 BANK OF AMERICA, N.A., 
 AS BOA AGENT 
 AND 

CITICORP NORTH AMERICA, INC., 
 AS ADMINISTRATIVE AGENT 
 1.2. The Preamble of the Credit Agreement
identifying the parties thereto is hereby amended to (i) delete clause (c) and clauses (f) through (h) thereof, (ii) reletter clauses (d) and (e) as clauses (c) and (d), respectively, and (iii) insert the
following clauses in the appropriate location: 
 (e) WORKING CAPITAL MANAGEMENT CO., L.P., a California limited
partnership (together with its successors, “WCM”), and MIZUHO CORPORATE BANK, LTD., in its capacity as a Liquidity Bank to WCM (together with its successors, “Mizuho” and, together with WCM, the
“WCM Group”); 
 (f) ATLANTIC ASSET SECURITIZATION LLC, a Delaware limited liability
company (together with its successors, “Atlantic”), and CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK (f/k/a CALYON NEW YORK BRANCH), in its capacity as a Liquidity Bank to Atlantic (together with its successors,
“CACIB” and, together with Atlantic, the “Atlantic Group”); 

(g) CAFCO, LLC, a Delaware limited liability company (together with its successors, “CAFCO” and,
together with Jupiter, Starbird, WCM and 

  
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Atlantic, the “Conduits”), and CITIBANK, N.A., in its capacity as a Liquidity Bank to CAFCO (together with its successors, “Citibank” and, together
with CAFCO, the “CAFCO Group”), 
 (h) BANK OF AMERICA, N.A., a national association
(together with its successors, “BOA”) in its capacity as a Liquidity Bank (the “BOA Group”); 
 (i) JPMORGAN CHASE BANK, N.A., in its capacity as agent for the Jupiter Group (together with its successors in such capacity, the “Jupiter Agent” or a
“Co-Agent”), BNP PARIBAS, ACTING THROUGH ITS NEW YORK BRANCH, in its capacity as agent for the Starbird Group (together with its successors in such capacity, the “Starbird Agent” or a
“Co-Agent”), MIZUHO CORPORATE BANK, LTD., in its capacity as agent for the WCM Group (together with its successors in such capacity, the “WCM Agent” or a “Co-Agent”), CREDIT
AGRICOLE CORPORATE AND INVESTMENT BANK, in its capacity as agent for the Atlantic Group (together with its successors in such capacity, the “Atlantic Agent” or a “Co-Agent”), BANK OF AMERICA, N.A., in
its capacity as agent for the BOA Group (together with its successors in such capacity, the “BOA Agent” or a “Co-Agent”) and CITIBANK, N.A., in its capacity as agent for the CAFCO Group (together with
its successors in such capacity, the “CAFCO Agent” or a “Co-Agent”), and 
 (j) CITICORP NORTH AMERICA, INC., as administrative agent for the Jupiter Group, the Starbird Group, the WCM Group, the Atlantic Group, the CAFCO Group, the BOA Group and the Co-Agents (in such capacity,
together with any successors thereto in such capacity, the “Administrative Agent” and together with each of the Co-Agents, the “Agents”). 

1.3. The Preliminary Statements of the Credit Agreement are hereby deleted in their entirety and replaced as follows: 

PRELIMINARY STATEMENTS 

The Borrower, International Paper, International Paper Financial Services, Inc. (“IPFS”), the
certain lending groups named therein, the Co-Agents named therein and Citicorp North America, Inc., in its capacity as the the Administrative Agent thereunder, were parties to that certain Amended and Restated Credit and Security Agreement dated as
of November 17, 2004, as amended from time to time prior to March 13, 2008 (the “Existing Agreement”). 
 IPFS assigned all of its rights and responsibilities as Servicer under the Existing Agreement to International Paper, and each of the Lenders and the Agents party to this Agreement as of March 13,
2008 consented to such assignment. 
 On the terms and subject to the conditions hereinafter set forth, the Pool
Funded Conduits in each Group (if any) may, in their absolute and sole discretion, make Loans to Borrower from time to time, and BOA shall make Loans to Borrower from time to time. 

  
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 In the event that the Pool Funded Conduits in any Group decline to make any
Loan, the Liquidity Banks in such Pool Funded Conduit’s Group shall, at the request of Borrower, make such Loan. 
 Citicorp North America, Inc. has been requested and is willing to act as Administrative Agent on behalf of the Co-Agents and the Groups in accordance with the terms hereof. 

1.4. Section 1.1(a) of the Credit Agreement is hereby amended to delete the second sentence thereof and insert in lieu thereof the
following: 
 Upon receipt of a copy of each Borrowing Request from Borrower, each of the Co-Agents of Groups
which include a Conduit shall determine whether its Conduit will fund a Loan in an amount equal to such Group’s Stated Percentage of the requested Advance specified in such Borrowing Request, and each of the Co-Agents of Groups which do not
include a Conduit will deliver such Borrowing Request to the Liquidity Banks in such Group, and, with respect to each Group, 

1.5. Section 1.1(a) of the Credit Agreement is hereby amended to delete clause (i) thereof and insert in lieu thereof the
following: 
 (i) each of the BOA Liquidity Banks severally agrees to make its Ratable Share of such Loan to
Borrower, on the terms and subject to the conditions hereof, provided that at no time may the aggregate principal amount of BOA Liquidity Banks’ Loans at any one time outstanding exceed the lesser of (i) the BOA Group’s
Group Limit, and (ii) the BOA Group’s Stated Percentage of the Borrowing Base (such lesser amount, the “BOA Allocation Limit”); 
 1.6. Section 1.1(a) of the Credit Agreement is hereby further amended to (a) delete the words “Jupiter’s Percentage of the Borrowing Base” in the proviso of clause
(ii) thereof and insert in lieu thereof the words “the Jupiter Group’s Stated Percentage of the Borrowing Base”, (b) delete the words “Starbird’s Percentage of the Borrowing Base” in the proviso of clause
(iii) thereof and insert in lieu thereof the words “the Starbird Group’s Stated Percentage of the Borrowing Base”, (c) delete the words “CAFCO’s Percentage of the Borrowing Base” in the proviso of clause
(iv) thereof and insert in lieu thereof the words “the CAFCO Group’s Stated Percentage of the Borrowing Base”, (d) delete the words “Atlantic’s Percentage of the Borrowing Base” in the proviso of clause
(v) thereof and insert in lieu thereof the words “the Atlantic Group’s Stated Percentage of the Borrowing Base”, and (e) delete the words “WCM’s Percentage of the Borrowing Base” in the proviso of clause
(vi) thereof and insert in lieu thereof the words “the WCM Group’s Stated Percentage of the Borrowing Base”. 
 1.7. Section 1.2(a) of the Credit Agreement is hereby deleted in its entirety and replaced with the following Section 1.2(a): 

(a) Each Advance hereunder shall consist of Loans made by Lenders within each Group (which may be made by a Conduit, one
or more Liquidity Banks, or a combination thereof) and which (except for any Advance which does not increase the aggregate principal amount of the Loans outstanding) shall be made in such proportions by each Group based on such Group’s Stated
Percentage. Any Advance which does not increase the aggregate principal amount outstanding may be funded solely by one or more of the Lenders in a single Group. 

  
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 1.8. Section 1.2(c) of the Credit Agreement is hereby deleted in its entirety and
replaced with the following Section 1.2(c): 
 (c) While it is the intent of each of the Conduits to fund
its respective Loans through the issuance of Promissory Notes, the parties acknowledge that if any of the Conduits is unable, or reasonably determines that it is undesirable for any reason to issue Promissory Notes to fund or maintain all or any
portion of its Loans at a CP Rate, or is unable to repay such Promissory Notes upon the maturity thereof, such Conduit will avail itself of a Liquidity Funding under its Liquidity Agreement. It is the intent of each Liquidity Bank to fund any Loans
funded by such Liquidity Bank as Liquidity Fundings. The Liquidity Fundings may be Alternate Base Rate Loans or LIBOR Loans, or a combination thereof, selected by Borrower in accordance with Article II; provided, however, that each
Liquidity Funding shall be an Alternate Base Rate Loan at least for the first two (2) Business Days after it is funded. In addition, the parties acknowledge that most Promissory Notes are issued at a discount and at varying discount rates;
accordingly, it may not be possible for all CP Rate Loans to be made in amounts precisely equal to the amounts specified in a Borrowing Request. To the extent that a Liquidity Funding is made from a Liquidity Bank to its Conduit, regardless of
whether a Liquidity Funding constitutes an assignment of a Loan or the sale of one or more participations therein or any other obtaining of funding for all or any portion of any Loan, each Liquidity Bank participating in a Liquidity Funding shall
have the same rights as its Conduit has hereunder with the same force and effect as if such Liquidity Bank had directly made a Loan to Borrower in the amount of its Liquidity Funding. To the extent that a Liquidity Funding is made from a Liquidity
Bank in lieu of a Loan from a Conduit, regardless of whether such Liquidity Funding was made because the Conduit in such Liquidity Bank’s Group elected to not fund such Loan or because there exists no Conduit in such Liquidity Bank’s
Group, each such Liquidity Bank shall have the same rights as a Conduit would have had hereunder had a Conduit made such Loan. 

1.9. Section 1.3(a) of the Credit Agreement is hereby amended by deleting the words “and the Gotham Agent shall calculate
Gotham’s CP Rate” from the second sentence thereof. 
 1.10. Section 1.5(a) of the Credit Agreement is hereby
amended by deleting the words “(each, a “Prepayment Notice”): (i) given within the Required Notice Period with respect to each Pool Funded Conduit’s Loans so prepaid and (ii) providing for such prepayment
to occur on the last day of the CP Tranche Period with respect to Gotham’s CP Rate Loans so prepaid;” from the first sentence thereof and inserting in lieu thereof the following: 

(each, a “Prepayment Notice”) within the Required Notice Period with respect to each Pool Funded
Conduit’s Loans so prepaid; 
 1.11. The proviso in Section 1.5(a) of the Credit Agreement is hereby amended by
replacing the words “Conduits”, “Conduit” and “Conduit’s” therein with the words “Groups”, “Group” and “Group’s”, respectively. 

  
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 1.12. Section 1.5(b) of the Credit Agreement is hereby deleted in its entirety and
replaced with the following Section 1.5(b): 
 (b) If, on any Business Day, the aggregate outstanding
principal amount of the Loans from the BOA Group exceeds the BOA Allocation Limit, or the aggregate principal amount of the Loans outstanding from BOA exceeds the BOA Liquidity Banks’ aggregate Liquidity Commitments, Borrower shall prepay such
Loans by wire transfer to the BOA Agent received not later than 1:00 p.m. (New York City time) on the first Business Day thereafter in an amount sufficient to eliminate such excess, together with accrued and unpaid interest on the amount prepaid.

 1.13. Section 2.2(a) of the Credit Agreement is hereby deleted in its entirety and replaced with the following
Section 2.2(a): 
 (a) Except upon the occurrence and during the continuance of an Amortization Event and
subject to Section 2.2(b) and 2.2(c), Borrower (or the Servicer, on Borrower’s behalf) in its Borrowing Request may request Interest Periods from time to time to apply to the LIBOR Loans; provided, however, that
(x) at any time while any Liquidity Bank or Conduit has LIBOR Loans outstanding, at least one Interest Period of such Liquidity Bank or Conduit shall mature on each Monthly Settlement Date and (y) no Interest Period of any Liquidity Bank
or Conduit in a Group which began prior to the Liquidity Termination Date applicable to such Group, shall extend beyond such Liquidity Termination Date, unless such Group elects to extend such Liquidity Termination Date. 

1.14. Section 2.2(b) of the Credit Agreement is hereby amended by by deleting the first sentence thereof. 

1.15. Section 2.2(e) of the Credit Agreement is hereby amended and restated in its entirety to read as follows: 

(e) Unless each of the Co-Agents shall have received written notice by 1:00 p.m. (New York City time) on the third
(3rd) Business Day prior to the last day of an Interest Period with respect to a LIBOR Loan that Borrower intends to reduce the aggregate principal amount of LIBOR Loans outstanding from the Liquidity Banks, each of the Jupiter Liquidity Banks,
the Atlantic Liquidity Banks and the CAFCO Liquidity Banks shall be entitled to assume that Borrower desires to refinance its maturing LIBOR Loans on the last day of such Interest Period with Alternate Base Rate Loans, and each of the WCM Liquidity
Banks, the BOA Liquidity Banks and the Starbird Liquidity Banks shall be entitled to assume that Borrower desires to refinance its maturing LIBOR Loans on the last day of such Interest Period with LIBOR Loans for the same Interest Period then ending
to the extent of the applicable Liquidity Banks’ ability to provide the funding without the customary three (3) Business Days notice or, otherwise, with Alternate Base Rate Loans. 

1.16. Section 3.2(a) of the Credit Agreement is hereby amended by deleting the words “Section 1.5(b), (c), (d), (e) or
(f),” and inserting in lieu thereof the words “Section 1.5(b), (c), (d), (e), (f), or (g)”. 

  
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 1.17. Section 3.2(c) of the Credit Agreement is hereby amended by deleting the words
“lesser of the Required Amounts” and inserting in lieu thereof the words “lesser of the insufficiency in Required Amounts”. 
 1.18. Section 3.2(d) of the Credit Agreement is hereby amended by deleting clause (i) thereof and inserting in lieu thereof the following: 

(i) to any accrued and unpaid CP Costs and Interest on the Loans that is then due and owing, including any previously
accrued CP Costs and Interest which was not paid on its applicable due date; 
 1.19. Section 3.2(e) of the Credit
Agreement is hereby deleted and replaced with a notation that such section has been “Intentionally Omitted”. 
 1.20.
Section 11.1(a) of the Credit Agreement is hereby amended by deleting the second sentence therein and inserting in lieu thereof the following: 
 Each member of the BOA Group hereby irrevocably designates and appoints Bank of America, N.A., as BOA Agent hereunder and under the other Transaction Documents to which the BOA Agent is a party, and
authorizes the BOA Agent to take such action on its behalf under the provisions of the Transaction Documents and to exercise such powers and perform such duties as are expressly delegated to the BOA Agent by the terms of the Transaction Documents,
together with such other powers as are reasonably incidental thereto. 
 1.21. Section 11.9(a) of the Credit Agreement is
hereby deleted and replaced with a notation that such section has been “Intentionally Omitted”. 
 1.22.
Section 12.2(a) of the Credit Agreement is hereby amended to insert the word “Upon” at the beginning thereof. 

1.23. Section 14.1(b) of the Credit Agreement is hereby amended and restated in its entirety to read as follows: 

(b) without the prior written consent of all of its Constituents, no Co-Agent will amend, modify or waive any provision of
this Agreement which would (i) reduce the amount of any principal or interest that is payable on account of Loans made by the Conduit or Liquidity Banks in its Group or delay any scheduled date for payment thereof; (ii) decrease the
Required Reserve, decrease the spread included in any Interest Rate or change the Servicing Fee; (iii) modify this Section 14.1; or (iv) modify any yield protection or indemnity provision which expressly inures to the benefit of
assignees or Participants of such Co-Agent’s Conduit or Liquidity Banks. 
 1.24. The last sentence of Section 14.3 of
the Credit Agreement is hereby amended and restated in its entirety to read as follows: 
 Notwithstanding the
foregoing, if the Liquidity Banks in one of the Groups decline to extend their Liquidity Termination Date, their Co-Agent will promptly notify the other Agents and Borrower of such decision, and Borrower shall have the right, following notice to
each of the Agents, to replace the 

  
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non-extending Group with a new Group without repaying any portion of each extending Group’s Loans at the time of such replacement, reallocation or repayment, and without triggering the
purchase requirements under the preceding sentence. 
 1.25. Section 14.5(b) of the Credit Agreement is hereby amended to
delete the word “BTMU, ” in clause (iv) thereof. 
 1.26. Section 14.7 of the Credit Agreement is hereby
amended to delete the words “JH Management Company” therein and insert in lieu thereof the words “Global Securitization Services, LLC”. 
 1.27. Section 14.11 of the Credit Agreement is hereby amended to delete the reference to Section 14.13 in the proviso thereto and in lieu thereof insert a reference to Section 14.14.

 1.28. The section marked as Section 14.13 of the Credit Agreement with the heading “Tax Gross-Up” is
renumbered as Section 14.14 of the Credit Agreement. 
 1.29. The definition in Exhibit I to the Credit Agreement of each
of the terms specified below is hereby amended and restated in its entirety to read, respectively, as follows: 

“Accounting Based Consolidation Event” means the consolidation, for financial and/or regulatory
accounting purposes, of all or any portion of the assets and liabilities of any Conduit that is the subject of this Agreement or any other Transaction Document with all or any portion of the assets and liabilities of any Liquidity Bank in its Group
or the Co-Agent of its Group or any of their affiliates (any such Person, an “Affected Accounting Entity”) as the result of the existence of, or occurrence of any change in, accounting standards or the issuance of any
pronouncement, interpretation or release, by any accounting body or any other body charged with the promulgation or administration of accounting standards, including, without limitation, the Financial Accounting Standards Board, the International
Accounting Standards Board, the American Institute of Certified Public Accountants, the Federal Reserve Board of Governors and the Securities and Exchange Commission, and shall occur as of the date that such consolidation (i) shall have
occurred with respect to the financial statements of any Affected Accounting Entity or (ii) shall have been required to have occurred, regardless of whether such financial statements were prepared as of such date. 

“Alternate Base Rate” means for any day, the rate per annum equal to the greatest as of such day
of (i) the sum of the Prime Rate plus 100 basis points per annum, (ii) the sum of the Federal Funds Effective Rate plus 150 basis points per annum, or (iii) LIBOR for a one-month Interest Period on such day. For purposes of
determining the Alternate Base Rate for any day, changes in the Prime Rate, the Federal Funds Effective Rate or LIBOR shall be effective on the date of each such change. 

“Atlantic” has the meaning set forth in the preamble to this Agreement. 

“Atlantic Agent” has the meaning set forth in the preamble to this Agreement. 

  
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 “Atlantic Group” has the meaning set forth in the
preamble to this Agreement. 
 “Broken Funding Costs” means, for any CP Rate Loan which:
(a) has its principal reduced without compliance by Borrower with the notice requirements hereunder or (b) is not prepaid in the amount specified in a Prepayment Notice on the date specified therein or (c) is assigned or otherwise
transferred by the applicable Conduit to its respective Liquidity Banks under its respective Liquidity Agreement or terminated prior to the date on which it was originally scheduled to end, an amount equal to the excess, if any, of (A) the CP
Costs that would have accrued during the remainder of the applicable commercial paper tranche periods determined by the applicable Co-Agent, to relate to such Loan subsequent to the date of such reduction, assignment or termination (or in respect of
clause (b) above, the date such prepayment was designated to occur pursuant to the applicable Prepayment Notice) of the principal of such CP Rate Loan if such reduction, assignment or termination had not occurred or such Prepayment Notice had
not been delivered, over (B) the sum of (x) to the extent all or a portion of such principal is allocated to another CP Rate Loan, the amount of CP Costs actually accrued during the remainder of such period on such principal for the new
Loan, and (y) to the extent such principal is not allocated to another CP Rate Loan, the income, if any, actually received during the remainder of such period by the holder of such Loan from investing the portion of such principal not so
allocated. 
 “CACIB” has the meaning set forth in the preamble to this Agreement.

 “Co-Agents’ Fee Letter” means that certain Amended and Restated Co-Agents’
Fee Letter dated as of January 11, 2012 by and among the Co-Agents and Borrower, as the same may be amended, restated or otherwise modified from time to time. 

“Committed Lender” means (a) each of the BOA Liquidity Banks, (b) each of the Jupiter
Liquidity Banks, (c) each of the Starbird Liquidity Banks, (d) each of the CAFCO Liquidity Banks, (e) each of the WCM Liquidity Banks, and (f) each of the Atlantic Liquidity Banks. 

“Conduits” has the meaning set forth in the preamble to this Agreement. 

“Constituent” means, as to any Group or any Co-Agent of a Group, any member of such Group or such
Co-Agent’s Group from time to time a party hereto, and when used as an adjective, “Constituent” shall have a correlative meaning. 
 “CP Costs” means: 
 (a) for each of the
Pool Funded Conduits other than CAFCO and Jupiter for each day, the sum of (i) discount or interest accrued on Pooled Commercial Paper for such Conduit on such day, plus (ii) any and all accrued commissions in respect of placement agents
and dealers, and issuing and paying agent fees incurred, in respect of such Pooled Commercial Paper for such day, plus (iii) other costs associated with funding small or odd-lot amounts with

  
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respect to all receivable purchase or financing facilities which are funded by Pooled Commercial Paper for such day, minus (iv) any accrual of income net of expenses received on such day
from investment of collections received under all receivable purchase or financing facilities funded substantially with Pooled Commercial Paper, minus (v) any payment received on such day net of expenses in respect of Broken Funding Costs (or
similar costs) related to the prepayment of any investment of such Pool Funded Conduit, as applicable, pursuant to the terms of any receivable purchase or financing facilities funded substantially with Pooled Commercial Paper. In addition to the
foregoing costs, if Borrower shall request any Advance from any of the Pool Funded Conduits other than CAFCO or Jupiter during any period of time determined by the applicable Co-Agent to such Pool Funded Conduit in its sole discretion to result in
incrementally higher CP Costs applicable to such Advance, the principal associated with any such Advance shall, during such period, be deemed to be funded by such Conduit in a special pool (which may include capital associated with other receivable
purchase or financing facilities) for purposes of determining such additional CP Costs applicable only to such special pool and charged each day during such period against such principal; 

(b) for CAFCO for each day, interest at the Investor Rate on or otherwise (by means of interest rate hedges or otherwise)
in respect of those Promissory Notes issued by CAFCO that are allocated, in whole or in part, by the CAFCO Agent (on behalf of CAFCO) to fund or maintain any Loan on such day as reported to the Borrower and the Servicer; and 

(c) for Jupiter for each day, an amount equal to (i) the product of (A) the Daily/30 Day LIBOR Rate (defined
below) in respect of such day, and (B) the aggregate outstanding principal amount of Loans advanced by Jupiter and funded from the issuance of Promissory Notes, divided by (ii) 360. For the purposes of this clause (c) only,
“Daily/30 Day LIBOR Rate” shall mean, for any day, a rate per annum equal to the thirty (30) day London-Interbank Offered Rate appearing on the Bloomberg BBAM (British Bankers Association) Page (or on any successor or
substitute page of such service, providing rate quotations comparable to those currently provided on such page of such service, as determined by the Jupiter Agent from time to time in accordance with its customary practices for purposes of providing
quotations of interest rates applicable to U.S. Dollar deposits in the London interbank market) at approximately 11:00 a.m. (London time) on such day or, if such day is not a Business Day in London, the immediately preceding Business Day in
London. In the event that such rate is not available on any day at such time for any reason, then for the purposes of this clause (c) only, the “Daily/30 Day LIBOR Rate” for such day shall be the rate at which thirty (30) day
U.S. Dollar deposits of $5,000,000 are offered by the principal London office of the Jupiter Agent in immediately available funds in the London interbank market at approximately 11:00 a.m. (London time) on such day; and if the Jupiter Agent is
for any reason unable to determine the Daily/30 Day LIBOR Rate in the foregoing manner or has determined in good faith that the Daily/ 30 Day LIBOR Rate determined in such manner does not accurately reflect the cost of funding or maintaining a Loan,
the Daily/30 Day LIBOR Rate for such day shall be the Alternate Base Rate. 

  
 11 

 “CP Rate” means, with respect to each of the Pool
Funded Conduits for any CP Tranche Period, the per annum interest rate that, when applied to the outstanding principal balance of such Pool Funded Conduits’ CP Rate Loans for the actual number of days elapsed in such CP Tranche Period,
would result in an amount of accrued interest equivalent to such Pool Funded Conduits’ CP Costs for such CP Tranche Period. 
 “CP Tranche Period” means, with respect to the Pool Funded Conduits, a Calculation Period; provided, however, that (x) in the case of any CP Tranche Period
for any Loan which commences before the Amortization Date and would otherwise end on a date occurring after the Amortization Date, such Interest Period shall end on the Amortization Date and (y) in the case of any CP Tranche Period for a
Conduit in a Group which has declined to extend its Liquidity Termination Date and which would otherwise end on a date occurring after such Liquidity Termination Date, such CP Tranche Period shall end on such Liquidity Termination Date. 

“Group” means the Jupiter Group, the Atlantic Group, the Starbird Group, the WCM Group, the CAFCO
Group or the BOA Group, as the case may be. 
 “Interest” means, for each respective
Interest Period relating to Loans of each Liquidity Bank, (a) for all Liquidity Banks other than BOA, an amount equal to the product of the applicable Interest Rate for each Loan multiplied by the principal of such Loan for each day elapsed
during such Interest Period, annualized on a 360 day basis, and (b) for BOA, an amount equal to the product of (x) the applicable Interest Rate for such Loan for each day elapsed during such Interest Period multiplied by (y) the
principal of such Loan for each such day, annualized on a 360 day basis. 
 “Interest
Period” means, with respect to any Loan held by a Liquidity Bank: 
 (a) for all Liquidity Banks
other than BOA, if Interest for such Loan is calculated on the basis of LIBOR, a period of one, two, three or six months, or such other period as may be mutually agreeable to the applicable Co-Agent and Borrower, commencing on a Business Day
selected by Borrower or the Administrative Agent pursuant to this Agreement. Such Interest Period shall end on the day in the applicable succeeding calendar month which corresponds numerically to the beginning day of such Interest Period,
provided, however, that if there is no such numerically corresponding day in such succeeding month, such Interest Period shall end on the last Business Day of such succeeding month; 

(b) for BOA, if Interest for such Loan is calculated on the basis of LIBOR, a period corresponding to the calendar month;
or 
 (c) if Interest for such Loan is calculated on the basis of the Alternate Base Rate, a period commencing on
a Business Day selected by Borrower and agreed to by the Administrative Agent, provided that no such period shall exceed one month. 

  
 12 

 If any Interest Period referred to in clause (a) or (c) would end on a day which
is not a Business Day, such Interest Period shall end on the next succeeding Business Day, provided, however, that in the case of any such Interest Period referred to in clause (a), if such next succeeding Business Day
falls in a new month, such Interest Period shall end on the immediately preceding Business Day. In the case of any Interest Period for any Loan which commences before the Amortization Date and would otherwise end on a date occurring after the
Amortization Date, such Interest Period shall end on the Amortization Date. In the case of any Interest Period for any Loan by any Constituent of a Group which has declined to extend its Liquidity Termination Date and which would otherwise end on a
date occurring after such Liquidity Termination Date, such Interest Period shall end on such Liquidity Termination Date. The duration of each Interest Period which commences after the Amortization Date shall be of such duration as selected by the
Administrative Agent. 
 “Lenders” means, collectively, each Conduit and each Liquidity
Bank and their respective successors and permitted assigns. 
 “LIBOR” means: 

(a) with respect to any Loan advanced by a Liquidity Bank other than BOA, for any Interest Period, the rate per annum
equal to the sum of (i) (a) the rate per annum determined on the basis of the offered rate for deposits in U.S. dollars of amounts equal or comparable to the principal amount of the related Loan offered for a term comparable to such
Interest Period, which rates appear on a Bloomberg L.P. terminal, displayed under the address “US0001M <Index> Q <Go>” effective as of 11:00 A.M., London time, two Business Days prior to the first day of such Interest
Period, provided that if no such offered rates appear on such page, LIBOR for such Interest Period will be the arithmetic average (rounded upwards, if necessary, to the next higher 1/100th of 1%) of rates quoted by not less than two
major banks in New York, New York, selected by the Administrative Agent, at approximately 10:00 a.m. (New York time), two Business Days prior to the first day of such Interest Period, for deposits in U.S. dollars offered by leading European banks
for a period comparable to such Interest Period in an amount comparable to the principal amount of such Loan, divided by (b) one minus the maximum aggregate reserve requirement (including all basic, supplemental, marginal or other
reserves) which is imposed against the Administrative Agent in respect of Eurocurrency liabilities, as defined in Regulation D of the Board of Governors of the Federal Reserve System as in effect from time to time (expressed as a decimal),
applicable to such Interest Period, plus (ii) 150 basis points. LIBOR shall be rounded, if necessary, to the next higher 1/16 of 1%; or 
 (b) with respect to any Loan advanced by BOA, on any date of determination, the rate (rounded upward, if necessary, to the next 1/16 of 1%) equal to the sum of (i) (a) LMIR for such day
multiplied by (b) the Statutory Reserve Rate, plus (ii) if, at any time, more than 50% of the outstanding principal amount of Loans advanced by Lenders other than BOA hereunder are not CP Rate Loans, 150 basis points; where, for the
purposes of this clause (b) of this definition: 
 (1) “LMIR” shall mean the one-month
“Eurodollar Rate” for deposits in dollars as reported on Reuters Screen LIBOR01 Page or on any successor or substitute page of such service, or any successor or substitute for such service, for the purpose of displaying offered rates of
leading banks for London interbank deposits in United States dollars, as of 11:00 a.m. (London time) on such date, or if such day is not a Business Day, then the immediately preceding Business Day (or if not so reported, then as determined by the
BOA Agent from another recognized source for interbank quotation), in each case, changing when and as such rate changes; and 

  
 13 

 (2) “Statutory Reserve Rate” shall mean a fraction (expressed as
a decimal), the numerator of which is the number one and the denominator of which is the number one minus the aggregate of the maximum reserve percentages (including any marginal, special, emergency or supplemental reserves) expressed as a decimal
established by the Board of Governors of the Federal Reserve System for eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in Regulation D of the Board of Governors of the Federal Reserve System). Such reserve
percentages shall include those imposed pursuant to such Regulation D. Loans for which Interest is calculated based on LIBOR shall be deemed to constitute eurocurrency funding and to be subject to such reserve requirements without benefit of or
credit for proration, exemptions or offsets that may be available from time to time to BOA under such Regulation D or any comparable regulation. The Statutory Reserve Rate shall be adjusted automatically on and as of the effective date of any change
in any reserve percentage. 
 “Liquidity Agreements” means, collectively, the Jupiter
Liquidity Agreement, the Starbird Liquidity Agreement, the Atlantic Liquidity Agreement, the WCM Liquidity Agreement and the CAFCO Liquidity Agreement. 
 “Liquidity Bank” means: 
 (a) with respect
to the BOA Group, BOA or any Eligible Assignee of BOA’s Commitment, 
 (b) with respect to Jupiter, JPMorgan
or any Eligible Assignee of JPMorgan’s Commitment and Liquidity Commitment, 
 (c) with respect to Starbird,
BNP Paribas or any Eligible Assignee of BNP Paribas’s Commitment and Liquidity Commitment, 
 (d) with
respect to CAFCO, Citibank or any Eligible Assignee of Citibank’s Commitment and Liquidity Commitment, 

(e) with respect to WCM, Mizuho or any Eligible Assignee of Mizuho’s Commitment and Liquidity Commitment, and

 (f) with respect to Atlantic, CACIB or any Eligible Assignee of CACIB’s Commitment and Liquidity
Commitment, 

  
 14 

 
in each of the foregoing cases, to which Borrower has consented if required under Section 12.1. A Liquidity Bank will become a “Lender” hereunder at such time as it
makes any Liquidity Funding. 
 “Liquidity Funding” means (a) a purchase made by any
Liquidity Bank pursuant to its Liquidity Commitment of all or any portion of, or any undivided interest in (or a loan made by any Liquidity Bank pursuant to its Liquidity Commitment in the amount equal to) a Loan of its applicable Conduit,
(b) any Loan made by the applicable Liquidity Banks in lieu of a Conduit pursuant to Section 1.1, or (c) with respect to any Group which does not include a Conduit, any Loan made by the applicable Liquidity Banks in such Group
pursuant to Section 1.1. 
 “Liquidity Termination Date” means: 

(a) as to the BOA Group, January 9, 2013 (unless such date is extended from time to time in the sole discretion of
the BOA Liquidity Banks); 
 (b) as to the Jupiter Group, January 9, 2013 (unless such date is extended from
time to time in the sole discretion of the Jupiter Liquidity Banks); 
 (c) as to the Starbird Group,
January 9, 2013 (unless such date is extended from time to time in the sole discretion of the Starbird Liquidity Banks); 
 (d) as to the CAFCO Group, January 9, 2013 (unless such date is extended from time to time in the sole discretion of the CAFCO Liquidity Banks); 

(e) as to the WCM Group, January 9, 2013 (unless such date is extended from time to time in the sole discretion of
the WCM Liquidity Banks); and 
 (f) as to the Atlantic Group, January 9, 2013 (unless such date is extended
from time to time in the sole discretion of the Atlantic Liquidity Banks). 
 “Mizuho”
has the meaning set forth in the preamble to this Agreement. 
 “Percentage” means, for
each Group on any date of determination on which any Loans are outstanding, the ratio of the aggregate amount of such Group’s Group Exposure to the aggregate outstanding amount of the Group Exposure of all Groups outstanding on such date.

 “Pool Funded Conduits” means Starbird, Jupiter, CAFCO, WCM and Atlantic. 

“WCM” has the meaning set forth in the preamble to this Agreement. 

“WCM Agent” has the meaning set forth in the preamble to this Agreement. 

  
 15 

 “WCM Group” has the meaning set forth in the
preamble to this Agreement. 
 1.30. The following new definitions are hereby inserted into Exhibit I to the Credit Agreement in
their appropriate alphabetical order: 
 “Affected Accounting Entity” has the meaning set
forth in the definition of “Accounting Based Consolidation Event.” 
 “BOA” has
the meaning set forth in the preamble to this Agreement. 
 “BOA Agent” has the meaning
set forth in the preamble to this Agreement. 
 “BOA Allocation Limit” has the meaning
set forth in Section 1.1(a)(i). 
 “BOA Group” has the meaning set forth in
the preamble to this Agreement. 
 “BOA Liquidity Bank” means BOA and any other Liquidity
Bank that now or hereafter enters into this Agreement as part of the BOA Group. 
 “Indemnified
Amounts” has the meaning set forth in Section 10.1. 
 “Stated
Percentage” means, for each Group on any date of determination, the ratio of such Group’s Group Limit to the Aggregate Commitment (or, if the Commitments have been terminated, the ratio of such Group’s Group Limit to the
Aggregate Commitment immediately prior to such termination). 
 1.31. The definition of “Amortization Date” is hereby
amended by replacing the words “Section 6.2” in clause (i) thereof with the words “Section 5.2”. 
 1.32. Clause (iv)(A) of the definition of “Eligible Receivable” is hereby amended and restated in its entirety to read as follows: 

(A) has been billed and by its terms is due and payable within 91 days of the original billing date therfor and has
not had its payment terms extended more than once, 
 1.33. The following definitions are hereby deleted from Exhibit I to the
Credit Agreement: “BTMU”, “CAFCO Fee Letter”, “Eligible Investments”, “Face Value”, “Gotham”, “Gotham Agent”, “Gotham Allocation Limit”, “Gotham Fee Letter”,
“Gotham Group”, “Gotham Liquidity Agreement”, “Gotham Liquidity Bank”, “Jupiter Fee Letter”, “Starbird Fee Letter”. 
 1.34. The definition of “Eligible Institution” is moved to the correct alphabetical order. 
 1.35. Each reference to Gotham, the Gotham Group, the Gotham Agent and BTMU (in its various capacities) and any terms related to either of them not specifically amended or otherwise addressed pursuant to
this Amendment is hereby deleted. 

  
 16 

 1.36. Each of Exhibit II [Form of Borrowing Request] and Exhibit V [Form of Compliance
Certificate] to the Credit Agreement is hereby amended and restated in its entirety to read as set forth in the comparably numbered exhibit set forth in Annex A to this Amendment. 

1.37. Exhibit IV to the Credit Agreement is hereby amended to remove Lockbox no. 532655 at PNC Bank in Chicago in the last line thereof.

 1.38. Schedule A to the Credit Agreement [Commitments] is hereby amended and restated in its entirety to read as set forth in
Annex B to this Amendment. 
 2. Representations and Warranties. As an inducement to the Agents and the Lenders to enter
into this Amendment, Borrower hereby represents and warrants to each of them as follows: 
 (i) the
representations and warranties set forth in Section 6.1 of the Credit Agreement are true and correct on and as of the date of this Amendment as though made on and as of such date; and 

(ii) no event has occurred and is continuing that constitutes an Amortization Event, and no event has occurred and is
continuing that constitutes an Unmatured Amortization Event. 
 3. Conditions Precedent. This Amendment shall become
effective as of the date first above written upon (a) execution and delivery to the Administrative Agent’s counsel of each of the documents listed on Annex C hereto, (b) receipt by the Co-Agents of the Amendment and Renewal Fee (as
defined in the Co-Agents’ Fee Letter dated as of the date hereof) in immediately available funds and (c) evidence of payment to the Gotham Agent of all accrued and unpaid fees payable to the Gotham Agent pursuant to the Co-Agents’ Fee
Letter (as in effect immediately prior to giving effect to this Amendment). 
 4. Confirmation of Termination of Certain Fee
Letters. Each of the parties to (i) that certain Second Amended and Restated CAFCO Fee Letter dated as of March 13, 2008 by and among International Paper, Borrower and CNAI, (ii) that certain Amended and Restated Jupiter Fee
Letter dated as of October 25, 2006 by and among International Paper, Borrower and the Jupiter Agent, and (iii) that certain Amended and Restated Starbird Fee Letter dated as of October 25, 2006 by and among International Paper,
Borrower and the Starbird Agent, hereby confirms that such fee letters have been terminated and are no longer of any force or effect. 
 5. Miscellaneous. 
 (a) CHOICE OF LAW. THIS AMENDMENT SHALL BE
GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAWS THEREOF OTHER THAN SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW. 

(b) Counterparts. This Amendment may be executed in any number of counterparts and by different parties hereto in separate
counterparts, each of which when so executed shall be deemed to be an original and all of which when taken together shall constitute one and the same Amendment. Delivery of an executed counterpart of a signature page to this Amendment by facsimile
or by electronic mail in portable document format (pdf) shall be effective as delivery of a manually executed counterpart of this Amendment. 

  
 17 

 (c) Ratification. Except as expressly amended hereby, the Credit Agreement remains
unaltered and in full force and effect and is hereby ratified and confirmed. 
 [Remainder of page intentionally blank]

  
 18 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed and delivered by their duly authorized officers as of the date hereof. 
  

					
	RED BIRD RECEIVABLES, LLC
		
	By:	 	 /s/ PHILLIP M. SISNEROS

		 	Name:	 	Phillip M. Sisneros
		 	Title:	 	President
	
	INTERNATIONAL PAPER COMPANY, as Servicer
		
	By:	 	 /s/ ERROL A. HARRIS

		 	Name:	 	Errol A. Harris
		 	Title:	 	Vice President and Treasurer

 
			
	JUPITER SECURITIZATION COMPANY LLC
	
	By: JPMorgan Chase Bank, N.A., its attorney-in-fact
		
	By:	 	 /s/ JOHN M. KUHNS

	Name:	 	John M. Kuhns
	Title:	 	Executive Director
	
	JPMORGAN CHASE BANK, N.A.,
as a Liquidity Bank and as Jupiter Agent
		
	By:	 	 /s/ JOHN M. KUHNS

	Name:	 	John M. Kuhns
	Title:	 	Executive Director

 
			
	STARBIRD FUNDING CORPORATION
		
	By:	 	 /s/ FRANK B. BILOTTA

	Name:	 	Frank B. Bilotta
	Title:	 	President
	
	BNP PARIBAS, ACTING THROUGH ITS NEW YORK BRANCH, as a Liquidity Bank and as Starbird Agent
		
	By:	 	 /s/ SEAN REDDINGTON

	Name:	 	Sean Reddington
	Title:	 	Managing Director
		
	By:	 	 /s/ PHILIPPE MOJON

	Name:	 	Philippe Mojon
	Title:	 	Director

 
			
	ATLANTIC ASSET SECURITIZATION LLC
	
	By: Credit Agricole Corporate and Investment Bank, as Attorney-in-fact
		
	By:	 	 /s/ SAM PILCER

	Name:	 	Sam Pilcer
	Title:	 	Managing Director
		
	By:	 	 /s/ KOSTANTINA KOURMPETIS

	Name:	 	Kostantina Kourmpetis
	Title:	 	Managing Director
	
	Address For the purposes of Section 14.2 of the Credit Agreement:
	
	c/o Credit Agricole Corporate and Investment Bank
	1301 Avenue of the Americas
	New York, NY 10019

 
			
	Attention:	 	Christina Cheung
	Tel No.:	 	(212) 261-7319
	Fax No.:	 	(917) 849-5584

 
			
	
	CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK, as a Liquidity Bank and as Atlantic Agent
		
	By:	 	 /s/ SAM PILCER

	Name:	 	Sam Pilcer
	Title:	 	Managing Director
		
	By:	 	 /s/ KOSTANTINA KOURMPETIS

	Name:	 	Kostantina Kourmpetis
	Title:	 	Managing Director
	
	Address For the purposes of Section 14.2 of the Credit Agreement:
	
	1301 Avenue of the Americas
	New York, NY 10019

 
			
	Attention:	 	Christina Cheung
	Tel No.:	 	(212) 261-7319
	Fax No.:	 	(917) 849-5584

 
			
	WORKING CAPITAL MANAGEMENT CO., L.P.
		
	By:	 	 /s/ SHINICHI NOCHIIDE

	Name:	 	Shinichi Nochiide
	Title:	 	Attorney-in-Fact
	
	Address For the purposes of Section 14.2 of the Credit Agreement:
	
	c/o Mizuho Corporate Bank, Ltd.
	Americas Financial Products Division
	Securitization & Structured Finance
	1251 Avenue of the Americas, 32nd Floor
	New York, NY 10020

 
			
	Attention:	 	David Krafchik
	Tel No.:	 	(212) 282-4998
	Fax No.:	 	(212) 282-4105

 
			
	
	MIZUHO CORPORATE BANK, LTD.,
as a Liquidity Bank and as WCM Agent
		
	By:	 	 /s/ LEON MO

	Name:	 	Leon Mo
	Title:	 	Authorized Signatory
	
	Address For the purposes of Section 14.2 of the Credit Agreement:
	
	Americas Financial Products Division
	Securitization & Structured Finance
	1251 Avenue of the Americas, 32nd Floor
	New York, NY 10020

 
			
	Attention:	 	David Krafchik
	Tel No.:	 	(212) 282-4998
	Fax No.:	 	(212) 282-4105

 
			
	CAFCO, LLC,
	
	By: Citibank, N.A., its attorney-in-fact
		
	By:	 	 /s/ LINDA MOSES

	Name:	 	Linda Moses
	Title:	 	Vice President
	
	Address For the purposes of Section 14.2 of the Credit Agreement:
	
	c/o Citibank, N.A.
	750 Washington Boulevard
	Stamford, CT 06901

 
			
	Attention:	 	Loretta Lachman
	Tel No.:	 	(203) 975-6417
	Fax No.:	 	(914) 274-9027

 
			
	
	 CITIBANK, N.A.,
 as
CAFCO Agent and as a Liquidity Bank

		
	By:	 	 /s/ DAVID MANDEL

	Name:	 	David Mandel
	Title:	 	Vice President
	
	Address For the purposes of Section 14.2 of the Credit Agreement:
	
	c/o Citibank, N.A.
	750 Washington Boulevard
	Stamford, CT 06901

 
			
	Attention:	 	Loretta Lachman
	Tel No.:	 	(203) 975-6417
	Fax No.	 	(914) 274-9027

 
			
	BANK OF AMERICA, N.A.,
	as BOA Agent and as a Liquidity Bank
		
	By:	 	 /s/ NINA AUSTIN

	Name:	 	Nina Austin
	Title:	 	Vice President
	
	Address For the purposes of Section 14.2 of the Credit Agreement:
	
	214 North Tryon Street, 21st Floor
	NC1-027-2101
	Charlotte, North Carolina 28255

 
			
	Attention:	 	Securitization Finance Group / Nina Austin
	Telephone:	 	(980) 386-7922
	Facsimile:	 	(704) 388-9169

 
			
	CITICORP NORTH AMERICA, INC.,
	as Administrative Agent
		
	By:	 	 /s/ DAVID MANDEL

	Name:	 	David Mandel
	Title:	 	Vice President
	
	Address For the purposes of Section 14.2 of the Credit Agreement:
	
	c/o Citibank, N.A.
	750 Washington Boulevard
	Stamford, CT 06901

 
			
	Attention:	 	Loretta Lachman
	Tel No.:	 	(203) 975-6417
	Fax No.	 	(914) 274-9027

 ANNEX A 
 EXHIBIT II 
 FORM OF BORROWING REQUEST 

— 

RED BIRD RECEIVABLES, LLC 
 BORROWING REQUEST 
 For Borrowing on
                     
 JPMorgan Chase
Bank, N.A., as Jupiter Agent 
 Chase Tower, 13th Floor 
 10 South Dearborn, Mail Suite IL1-0079 
 Chicago, IL 60603 

Attention: Jupiter Funding Manager, Fax No. (312) 732-1844 
 BNP Paribas, acting through its New York Branch, as Starbird Agent 
 787 Seventh Avenue, 8th Floor

 New York, New York 10019 
 Attention:
Linda Ruivivar, Fax No. (212) 841-2992 
 Credit Agricole Corporate and Investment Bank, as Atlantic Agent 

c/o Credit Agricole Corporate and Investment Bank 

1301 Avenue of the Americas 
 New York, NY 10019

 Attention: Christina Cheung, Fax No.: (917) 849-5584 
 Mizuho Corporate Bank, Ltd., as WCM Agent 
 Americas Financial Products Division 

Securitization & Structured Finance 

1251 Avenue of the Americas, 32nd Floor 
 New
York, NY 10020 
 Attention: David Krafchik, Fax No. (212) 282-4105 
 Citibank, N.A., as CAFCO Agent 
 750 Washington Boulevard 

Stamford, CT 06901 
 Attention: Loretta Lachman,
Fax No. (914) 274-9027 
 and 

Bank of America, N.A., as BOA Agent 
 214 North Tryon Street, 21st Floor 
 NC1-027-2101 
 Charlotte, North Carolina 28255 
 Attention: Securitization Finance Group / Nina Austin, Fax No.
(704) 388-9169 

 Ladies and Gentlemen: 
 Reference is made to the Second Amended and Restated Credit and Security Agreement dated as of March 13, 2008 (as amended, supplemented or otherwise modified from time to time, the “Credit
Agreement”) among Red Bird Receivables, LLC (the “Borrower”), International Paper Company, as Servicer, the Conduits, Liquidity Banks and Co-Agents, from time to time party thereto, and Citicorp North America,
Inc., as Administrative Agent. Capitalized terms defined in the Credit Agreement are used herein with the same meanings. 
 1.
The Borrower hereby certifies, represents and warrants to the Agents and the Lenders that on and as of the Borrowing Date (as hereinafter defined): 
 (a) all applicable conditions precedent set forth in Article V of the Credit Agreement have been satisfied; 
 (b) each of its representations and warranties contained in Section 6.1 of the Credit Agreement will be true and correct, in all material respects, as if made on and as of the Borrowing Date;

 (c) no event will have occurred and is continuing, or would result from the requested Advance, that constitutes an
Amortization Event or Unmatured Amortization Event; 
 (d) the Termination Date has not occurred; and 

(e) after giving effect to the Loans comprising the Advance requested below, the aggregate principal amount of the Jupiter Group’s
Loans at any one time outstanding will not exceed the Jupiter Allocation Limit, the aggregate principal amount of the Starbird Group’s Loans at any one time outstanding will not exceed the Starbird Allocation Limit, the aggregate principal
amount of the Atlantic Group’s Loans at any one time outstanding will not exceed the Atlantic Allocation Limit, the aggregate principal amount of the WCM Group’s Loans at any one time outstanding will not exceed the WCM Allocation Limit,
the aggregate principal amount of the CAFCO Group’s Loans at any one time outstanding will not exceed the CAFCO Allocation Limit, and the aggregate principal amount of the BOA Group’s Loans at any one time outstanding will not exceed the
BOA Allocation Limit. 
 2. The Borrower hereby requests that the Conduits in each Group (or their respective Liquidity Banks)
or, if such Group does not include a Conduit, the Liquidity Banks for such Group, make an Advance on                     ,
             (the “Borrowing Date”) as follows: 
 (a) Aggregate Amount of Advance: $         calculated as: 
  

					
	Rollover Amount:	  	
	Reduction Amount:	  	
	New Loan Amount:	  	

					
	Total Advance:	  	

					
			
	1.	    	Jupiter Group’s Share of Advance:	    	$             
			
	2.	    	Starbird Group’s Share of Advance:	    	$             
			
	3.	    	CAFCO Group’s Share of Advance:	    	$             
			
	4.	    	Atlantic Group’s Share of Advance:	    	$             
			
	5.	    	WCM Group’s Share of Advance:	    	$             
			
	6.	    	BOA Group’s Share of Advance:	    	$             

 (b) Interest Rate Requested: CP Rate for all Groups other than the BOA Group; LIBOR for the
BOA Group. 
 (c) Jupiter Group, Starbird Group, CAFCO Group, Atlantic Group, WCM Group, and BOA Group repayment date:
             
 3. Please disburse the proceeds of the Loans as
follows: 
 (i) Jupiter Group: [Wire transfer $         to account no.
             at                      Bank, in [city, state], ABA No.
            , Reference:             ]; 
 (ii) Starbird Group: [Wire transfer $         to account no.              at
                     Bank, in [city, state], ABA No.             , Reference:
            ]; 
 (iii) CAFCO Group: [Wire transfer
$         to account no.              at
                     Bank, in [city, state], ABA No.             , Reference:
            ]; 
 (iv) Atlantic Group: [Wire transfer
$         to account no.              at
                     Bank, in [city, state], ABA No.             , Reference:
            ]; 
 (v) WCM Group: [Wire transfer
$         to account no.              at
                     Bank, in [city, state], ABA No.             , Reference:
            ]; and 
 (vi) BOA Group: [Wire transfer
$         to account no.              at
                     Bank, in [city, state], ABA No.             , Reference:
            ]. 
 IN WITNESS WHEREOF, the Borrower has
caused this Borrowing Request to be executed and delivered as of this      day of                     ,
                . 
  

			
	RED BIRD RECEIVABLES, LLC, AS BORROWER
		
	By:	 	  

		 	Name:
		 	Title:

 EXHIBIT V 
 FORM OF COMPLIANCE CERTIFICATE 
  

	To:	JPMorgan Chase Bank, N.A., as Jupiter Agent 

 BNP Paribas, acting through its New York branch, as Starbird Agent 
 Credit
Agricole Corporate and Investment Bank, as Atlantic Agent 
 Mizuho Corporate Bank, Ltd., as WCM Agent 

Citibank, N.A., as CAFCO Agent 
 Bank of America, N.A., as BOA Agent 
 Citicorp North America, Inc., as
Administrative Agent 
 This Compliance Certificate is furnished pursuant to that certain Second Amended and Restated Credit and
Security Agreement dated as of March 13, 2008 among Red Bird Receivables, LLC (the “Borrower”), International Paper Company, as Servicer, the Conduits, Liquidity Banks and Co-Agents from time to time party thereto, and
Citicorp North America, Inc., as Administrative Agent (as amended, restated or otherwise modified from time to time, the “Agreement”). Capitalized terms used and not otherwise defined herein are used with the meanings
attributed thereto in the Agreement. 
 THE UNDERSIGNED HEREBY CERTIFIES THAT: 

1. I am the duly elected
                     of Borrower. 
 2. I have reviewed the terms of the Agreement and I have made, or have caused to be made under my supervision, a detailed review of the transactions and conditions of Borrower and its Subsidiaries during
the accounting period covered by the attached financial statements. 
 3. The examinations described in paragraph 2 did not
disclose, and I have no knowledge of, the existence of any condition or event which constitutes an Amortization Event or Unmatured Amortization Event, as each such term is defined under the Agreement, during or at the end of the accounting period
covered by the attached financial statements or as of the date of this Certificate[, except as set forth in paragraph 4 below]. 

[4. Described below are the exceptions, if any, to paragraph 3 by listing, in detail, the nature of the condition or event, the period
during which it has existed and the action which Borrower has taken, is taking, or proposes to take with respect to each such condition or event:
                    ] 
 The
foregoing certifications and the financial statements delivered with this Certificate in support hereof, are made and delivered as of
                    , 20    . 

 

			
	By:	 	  

		 	Name:
		 	Title:

 ANNEX B 
 SCHEDULE A 
 COMMITMENTS 

 

			
	 COMMITTED LENDER
	  	 COMMITMENT

	[***]	  	[***]
	TOTAL	  	1,000,000,000

 ANNEX C 
 CLOSING DOCUMENTS 
  

	1.	Amendment No. 5 to Second Amended and Restated Credit and Security Agreement, duly executed by each of the parties thereto. 

 

	2.	Filing of a UCC3 amendment to each of the following UCC financing statements updating the address of the Secured Party: 

 

									
	 Debtor Name &

Address
	  	 Secured Party Name
	  	 Jurisdiction
	  	 File No./File Date
	  	 Expiration

Date

	International Paper Company	  	Citicorp North America, Inc., as Administrative Agent	  	New York SOS	  	 Original file

#200803140188136
 filed
03/14/2008
	  	03/14/2013
	6400 Poplar Avenue, Memphis, TN 38197	  		  		  		  	
					
	Red Bird Receivables, LLC	  	Citicorp North America, Inc., as Administrative Agent	  	Delaware SOS	  	 Original file
 #20080917557
filed
 03/13/2008
	  	03/13/2013
	6400 Poplar Avenue, Memphis, TN 38197	  		  		  		  	

  

	3.	Amended and Restated Co-Agents’ Fee Letter, duly executed by each of the parties thereto. 

 

	4.	A certificate of Borrower’s Assistant Secretary certifying a copy of its resolutions authorizing its execution delivery and performance of the above documents and
the names and titles of its authorized officers. 

  

	5.	A Certificate of IPCO’s financial officer certifying that, as of the closing date, no Termination Event or Unmatured Termination Event exists and is continuing
under the Receivables Sale and Contribution Agreement. 

  

	6.	A Compliance Certificate in the form of Exhibit V in Annex A to this Amendment, duly executed by Borrower. 

 

	7.	Reliance letters, addressed to BOA, individually and as BOA Agent, with respect to each of the legal opinions delivered under the Receivables Sale and Contribution
Agreement and the Credit and Security Agreement. 

  

	8.	Amendment No. 3 to Receivables Sale and Contribution Agreement.

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