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EXHIBIT 10.1

MAXIM INTEGRATED PRODUCTS, INC.
AMENDED AND RESTATED CHANGE IN CONTROL EMPLOYEE SEVERANCE PLAN
FOR U.S. BASED EMPLOYEES

Maxim Integrated Products, Inc. previously adopted the Change in Control Employee Severance Plan (this “Plan”) for the benefit of certain employees of the Company (as defined herein) on the terms and conditions stated below. The Plan was adopted on November 4, 2009, amended on August 31, 2017, and is hereby amended and restated on July 12, 2020. The Plan is intended to help the Company retain and recruit qualified employees, maintain a stable work environment, and provide economic benefits set forth in the Plan to eligible employees if their employment with the Company is terminated without Cause (as defined herein) or for Good Reason (as defined herein) within 24 months after, or within a defined period before, a Change in Control (as defined herein) occurs.

The Plan, as a “severance pay arrangement” within the meaning of Section 3(2)(B)(i) of ERISA, is intended to be excepted from the definitions of “employee pension benefit plan” and “pension plan” set forth under Section 3(2) of ERISA, and is intended to meet the descriptive requirements of a plan constituting a “severance pay plan” within the meaning of regulations published by the Secretary of Labor at Title 29, Code of Federal Regulations §2510.3-2(b). In the event that the Plan, as to Level I Employees and Level II Employees, should fail to qualify as a “severance pay arrangement” within the meaning of Section 3(2)(B)(i) of ERISA, then it will be treated as a separate plan as to such Level I Employees and Level II Employees which constitutes “a plan which is unfunded and maintained by an employer primarily for the purpose of providing deferred compensation for a select group of management or highly compensated employees “within the meaning of Section 201(2) of ERISA.

Section 1          Definitions. For the purpose of this Plan.

1.       “Agency Personnel” shall mean persons who are engaged through a third-party agency. 

2.       “Affiliate” means, with respect to any individual or entity, any other individual or entity who, directly or indirectly through one or more intermediaries, controls, is controlled by or is under common control with, such individual or entity.

3.         “Board” means the Board of Directors of the Parent.

4.       “Cause” means that the Eligible Employee has: (a) willfully and continually failed to substantially perform, or been grossly negligent in the discharge of, his or her duties to the Company (other than by reason of a “disability” or “serious medical condition” as such terms are defined under applicable federal or state law, such as the American with Disability Act, the Family Medical Leave Act or workers' compensation), which failure or negligence continues for a period of 10 business days or more after a written demand for performance is delivered to the Eligible Employee by the Company, which reasonably identifies the manner in which the Company believes that the Eligible Employee has not substantially performed, or been grossly negligent in the discharge of, his or her duties; (b) been convicted of or pled nolo contendere to a felony; or (c) breached any agreement with, fiduciary or confidentiality duty owed to, or code of conduct or policy of the Company or any Affiliate of the Company (which code or policy has been previously published or communicated to the Eligible Employee). Notwithstanding the foregoing, the definition of Cause in clause (c) above will not apply to acts or omissions that are both (i) isolated and unintentional, and (ii) insignificant in their adverse effect on the Company, unless the Company has given written notice to the Eligible Employee describing the proscribed action in reasonable detail and the Eligible Employee has failed to remedy the acts or omissions described in such notice within 10 business days after the Eligible Employee is given such notice. In addition, in the case of any Level I Employee, a determination of Cause must also have been first approved or ratified subsequently by the Board.

5.         A “Change in Control” will be deemed to mean the first of the following events to occur after the Effective Date:

(a)        any person or group of persons (as defined in Section 13(d) and 14(d) of the Exchange Act) together with its affiliates, but excluding (i) the Parent or any of its subsidiaries, (ii) any employee benefit plans of the Company, or (iii) a corporation or other entity owned, directly or indirectly, by the stockholders of the Parent in substantially the same proportions as their ownership of stock of the Parent (individually, a “Person” and collectively, “Persons”), is or becomes, directly or indirectly, the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act) of securities of the Parent representing 50% or more of the combined voting power of the Parent's then-outstanding securities (not including in the securities beneficially owned by such Person any securities acquired directly from the Parent or its Affiliates);

(b)        the consummation of a merger or consolidation of the Parent or any direct or indirect subsidiary of the Parent with any other corporation or other entity regardless of which entity is the survivor, other than a merger or consolidation which would result in the voting securities of the Parent outstanding immediately prior thereto continuing to represent (either by remaining outstanding or being converted into voting securities of the surviving entity) more than 50% of the combined voting power of the voting securities of the Parent, such surviving entity or any parent thereof outstanding immediately after such merger or consolidation; or

(c)        the stockholders of the Parent approve a plan of complete liquidation or winding-up of the Parent or there is consummated an agreement for the sale or disposition of all or substantially all of the Company's assets.

6.         “CIC Covered Period” means the period commencing on the date a Change in Control occurs and ending on the second anniversary of such date.

7.         “Code” means the Internal Revenue Code of 1986, as it may be amended from time to time.

8.         “Company” means the Parent and its U.S. subsidiaries, or any successors thereto.

9.         “Disability” means a physical or mental condition entitling the Eligible Employee to benefits under the Parent's long-term disability plan, or if no such plan then-exists, a “permanent and total disability” (within the meaning of Section 22(e)(3) of the Code) or as determined by the Company in accordance with applicable laws.

10.       “Effective Date” means November 4, 2009, as amended August 31, 2017, and as amended and restated on July 12, 2020.

11.       “Eligible Employee” means any Level I Employee, Level II Employee, Level III Employee, Level IV Employee or Level V Employee who is employed on the date of a Potential Change in Control or a Change in Control other than: (a) employees who have entered into written separation agreements signed by the Company or have been given notice of termination at any time prior to the commencement of a Potential Change of Control Period; (b) interns, casual, or part-time employees or Agency Personnel; (c) temporary employees who have employment agreements with a fixed term of no more than 12 months; (d) employees covered by any collective bargaining agreement to which the Company is party; or (e) employees who are not regularly paid on a U.S. payroll. The status of an individual as an employee of the Company or an Eligible Employee for the purposes of this Plan will be based on the Company's payroll records as of the date of a Change of Control. In no event will any subsequent reclassification of any employee of, or service provider to, the Company as a result of a government audit or otherwise have any effect on such individual's eligibility under this Plan or his/her status as an Eligible Employee hereunder. Any Level I Employee, Level II Employee, Level III Employee, Level IV Employee or Level V Employee who otherwise satisfies the definition of “Eligible Employee” in this Section 1.11 is referred to in this Plan as an “Eligible Level I Employee,” “Eligible Level II Employee,” “Eligible Level III Employee,” “Eligible Level IV Employee” or “Eligible Level V Employee,” as the case may be. Any references in this Plan to “full-time employee,” “exempt employee,” “non-exempt employee,” “temporary employee” or words of similar import will have the meaning(s) ascribed thereto in the Company's benefits, health and welfare plans and payroll records as in effect from time to time.

12.       “ERISA” means the Employee Retirement Income Security Act of 1974, as amended.

13.       “Exchange Act” means the Securities Exchange Act of 1934, as amended.

14.       “Fundamental Board Change” means the following individuals cease for any reason to constitute a majority of the number of directors then-serving: individuals who, on the Effective Date, constitute the Board and any new director (other than a director whose initial assumption of office is in connection with an actual or threatened election contest, including but not limited to a consent solicitation, relating to the election of directors of the Parent) whose appointment or election by the Board or nomination for election by the Parent's stockholders was approved or recommended by a vote of at least two-thirds of the directors then still in office who either were directors on the Effective Date, or whose appointment, election or nomination for election was previously so approved or recommended;

15.       “Good Reason” means the occurrence of any of the following events on or following a Change in Control without the Eligible Employee's express written consent, provided the Eligible Employee gives notice to the Company of the Good Reason event within 90 days after the Eligible Employee has actual knowledge of the Good Reason event and such event(s) is not fully corrected or otherwise remedied by the Company within 30 days following its receipt of such notice from the Eligible Employee:

(1)        for Level I Employees and Level II Employees: 

(a)        a material diminution in the Eligible Employee's duties or responsibilities from those in effect immediately prior to the Change in Control (including, but not limited to, in the case of a Level I Employee who reports directly to the Chief Executive Officer of the Parent immediately prior to a Change in Control, if, after such Change in Control, such Level I Employee no longer reports directly to the chief executive officer of a public company), it being understood that:

(i)        “a material diminution in the Eligible Employee's duties or responsibilities” is not established by one or more of the following changes, whether alone or in combination with other changes: (A) a change in job title; (B) except as expressly provided in Section 1.15(a), a change in reporting relationships; or (C) any change in an Eligible Employee's duties or responsibilities of a type that the Company has historically caused or permitted in the two years prior to the Change in Control;

(ii)        under no circumstances will a promotion or an increase in the number of employees or projects to be managed or an increase in the budget to be managed constitute “a material diminution in the Eligible Employee's duties or responsibilities”; and

(iii)        “a material diminution in the Eligible Employee's duties or responsibilities” would be established if an Eligible Employee is reassigned to perform job functions in a discipline that is materially different than the discipline in which the Eligible Employee worked prior to the Change in Control (e.g. , a design engineer is assigned to work in manufacturing), without regard to similarity of job level;

(b)        a greater than 10% reduction in the Eligible Employee's annual total cash compensation opportunity (including base salary and target annual bonus opportunity) (as reflected in the  Company's records) as of immediately prior to the Change in Control (excluding for the avoidance of doubt, any temporary reduction, without the Eligible Employee’s consent, of up to 20%, in total, of the Eligible Employee’s annual total cash compensation opportunity in response to the COVID-19 pandemic or other extraordinary event of similar market consequence, which reduction is applicable on the same basis to similarly situated employees of Parent and its U.S. subsidiaries (including for the avoidance of doubt, after the Change in Control, the Company) and which reduction remains in effect for not more than 180 calendar days); or

(c)        the relocation of the Eligible Employee's principal place of employment to a location more than 60 miles from the Eligible Employee's principal place of employment immediately prior to the Change in Control, 

except for required travel on the Company's business to an extent substantially consistent with the Eligible Employee's business travel obligations as of immediately prior to the Change in Control.

Notwithstanding the foregoing, any change in the Eligible Employee's duties or responsibilities or any relocation of the Eligible Employee's principal place of employment will not constitute Good Reason if such Eligible Employee either requested, volunteered to undertake, or consented in writing to, such change or relocation.

(2)        for Level III Employees, Level IV Employees and Level V Employees: 

(a)        a greater than 10% reduction in the Eligible Employee's annual total cash compensation opportunity (including base salary and target annual bonus opportunity) (as reflected in the Company's records) as of immediately prior to the Change in Control (excluding for the avoidance of doubt, any temporary reduction, without the Eligible Employee’s consent, of up to 20%, in total, of the Eligible Employee’s annual total cash compensation opportunity in response to the COVID-19 pandemic or other extraordinary event of similar market consequence, which reduction is applicable on the same basis to similarly situated employees of Parent and its U.S. subsidiaries (including for the avoidance of doubt, after the Change in Control, the Company) and which reduction remains in effect for not more than 180 calendar days);  or

(b)      the relocation of the Eligible Employee's principal place of employment to a location more than 60 miles from the Eligible Employee's principal place of employment immediately prior to the Change in Control, except for required travel on the Company's business to an extent substantially consistent with the Eligible Employee's business travel obligations as of immediately prior to the Change in Control.

Notwithstanding the foregoing, any relocation of the Eligible Employee's principal place of employment will not constitute Good Reason if such Eligible Employee either requested, volunteered to undertake, or consented in writing to, such change or relocation.

16.       “Level I Employee” means (a) the Chief Executive of the Company or (b) any Senior Vice President or Vice President of the Company.

17.       “Level II Employee” means any employee of the Company with the job title immediately prior to a Change in Control of Managing Director (or its equivalent) of the Company as determined by the Company.

18.       “Level III Employee” means any employee of the Company with the job title immediately prior to a Change in Control of Executive Director (or its equivalent) of the Company as determined by the Company.

19.       “Level IV Employee” means any other exempt employee of the Company as determined by the Company.

20.       “Level V Employee” means any non-exempt employee of the Company as determined by the Company.

21.       “Named Executive Officers” means (a) the executive officers of the Company (i) listed in the “Summary Compensation Table” (or successor form of disclosure) that is included in the most recent filing by the Company under the Securities Act or Exchange Act, and (ii) serving in such capacity immediately prior to the applicable Severance Date, and (b) such additional individuals who would be so listed within such a filing if such filing were made immediately prior to the applicable Severance Date.

22.       “Parent” means Maxim Integrated Products, Inc., a Delaware corporation.

23.       “Plan” means the Maxim Integrated Products, Inc. Change in Control Employee Severance Plan, as set forth herein and as it may be amended from time to time.

24.       “Plan Administrator” means the Parent.

25.       “Potential Change in Control” will be deemed to have occurred if the event set forth in any one of the following paragraphs will have occurred:

(a)        the Company enters into an agreement, the consummation of which would result in the occurrence of a Change in Control; or

(b)        the Company or any Person publicly announces an intention to take or to consider taking actions which, if consummated, would constitute a Change in Control.

26.       “Potential Change in Control Period” means the period beginning upon the occurrence of a Potential Change in Control and ending upon the earliest to occur of (a) the consummation of the Change in Control, or (b) the one-month anniversary of the abandonment of the transaction or series of transactions that constitute a Potential Change in Control (as determined by the Plan Administrator in its sole discretion).

27.       “Severance” means (a)(i) the involuntary termination of an Eligible Employee's employment by the Company, other than for Cause, death or Disability, or (ii) a termination of an Eligible Employee's employment by the Eligible Employee for Good Reason, and (b) which termination in each case occurs either (x) following a Change in Control and during the CIC Covered Period, or (y) during a Potential Change in Control Period. Notwithstanding the foregoing, a Severance will not be deemed to have occurred for any purpose if an Eligible Employee's employment is terminated as part of the transaction structuring or post-transaction integration process upon or after a Change in Control if such Eligible Employee is rehired in connection with such transaction structuring or integration and the rehiring does not otherwise constitute a Good Reason event.

28.       “Severance Date” means, as the case may be, the date on which an Eligible Employee incurs a Severance during a CIC Covered Period, or a Potential Change in Control Period. Notwithstanding the foregoing, where the Eligible Employee is entitled under law, contract or otherwise, to any period of notice of termination, “Severance Date” means the date on which such notice expires.

Section 2          Change in Control Severance Benefits.

1.         Generally. Subject to Sections 2.6, 2.7, 4 and 6.2 hereof and unless otherwise agreed to in writing, each Eligible Employee will be entitled to the greater of either: (a) the severance payments and benefits pursuant to the applicable provisions of Section 2 of this Plan if such Eligible Employee incurs a Severance, or (b) the severance benefits under any written severance agreement signed by such Eligible Employee and an officer of the Company (if applicable). With respect to an Eligible Employee who is entitled to benefits under the Workers Adjustment Retraining Notification Act of 1988, or any similar state or local statute or ordinance (collectively the “WARN Act”), such benefits under this Plan will be reduced dollar-for-dollar to the extent that an Eligible Employee is excused from work during such notice period. Notwithstanding anything to the contrary in this Section 2.1, if any payments or benefits payable hereunder constitute nonqualified deferred compensation subject to Section 409A of the Code, such payments or benefits shall be structured in a manner that is intended to comply with Section 409A of the Code.

2.         Payment of Accrued Obligations. Subject to Sections 2.7, 4 and 6.2 hereof, the Company will pay to each Eligible Employee who incurs a Severance a lump sum payment in cash, paid as soon as practicable but no later than the earlier of any payment date required by applicable local law or 10 days after the Severance Date, equal to the sum of (a) all payments required by applicable local law, including the Eligible Employee's accrued but unpaid base salary and any accrued but unpaid vacation pay through the Severance Date, and (b) the Eligible Employee's unpaid and undeferred bonus or commission pay, if any, actually earned in accordance with the applicable Company bonus or commission plan prior to the Severance Date.

3.         One Time Cash Payment Based on Cash Compensation. Subject to Sections 2.6, 2.7, 4 and 6.2, each Eligible Employee who incurs a Severance will be entitled to a lump sum payment, less any amounts required to be 

withheld or deducted under applicable law, paid in accordance with Section 2.6, equal to the applicable amount set forth in this Section 2.3:

(a)        Level I Employees. Each Eligible Level I Employee who incurs a Severance will be entitled to a one-time cash payment equal to two times (2x) the sum of (x) such employee's annual base salary in effect immediately prior to the Severance Date, and (y) the employee’s target annual cash performance bonus for the year in which the Severance Date occurs, assuming Company and individual performance at 100% of target.

(b)        Level II Employees. Each Eligible Level II Employee who incurs a Severance will be entitled to a one-time cash payment equal to two times (2x) the sum of (x) such employee's annual base salary in effect immediately prior to the Severance Date, and (y) the employee’s target annual cash performance bonus for the year in which the Severance Date occurs, assuming Company and individual performance at 100% of target.

(c)        Level III Employees. Each Eligible Level III Employee who incurs a Severance will be     
entitled to a one-time cash payment equal to two times (2x) the sum of (x) such employee's annual base salary in effect immediately prior to the Severance Date, and (y) the employee’s target annual cash performance bonus for the year in which the Severance Date occurs, assuming Company and individual performance at 100% of target.

(d)        Level IV Employees. Each Eligible Level IV Employee who incurs a Severance will be entitled to a one-time cash payment equal to the product obtained by multiplying (x) an amount equal to four times (4x) such employee's weekly base salary (calculated by taking the individual's annual base salary in effect immediately prior to the Severance Date and dividing by 52), by (y) the amount obtained by dividing the number of full months of employment at the Company by 12 (i.e., payment = [4x (annual salary/52)] x [full months of employment/12]).

(e)        Level V Employees. Each Eligible Level V Employee who incurs a Severance will be entitled to a one-time cash payment equal to the product obtained by multiplying (x) an amount equal to two times (2x) such employee's then-weekly pay rate in effect immediately prior to the Severance Date (including, for such purpose, any shift differential but excluding overtime pay), by (y) the amount obtained by dividing the number of full months of employment at the Company by 12 (i.e., payment = [2x (weekly pay rate] x [full months of employment/12]).

4.         Acceleration of Equity Award Vesting.

(a)        In the event of a Change in Control, the equity incentive awards, including performance shares and restricted stock units, granted by the Company will be governed by the terms of the Company’s stock incentive plan and the award agreements, including the Performance Share Agreement and Restricted Stock Unit Agreement, as applicable, governing such awards. In the event an Eligible Level I Employee, Eligible Level II Employee, Eligible Level III Employee and Eligible Level IV Employee incurs a Severance, any equity incentive awards (including, without limitation, stock options, performance shares, restricted stock units and any other equity-based awards granted or assumed by the Company and outstanding as of the Severance Date, other than options or rights granted under an employee stock purchase plan (the “Equity Awards”), that are subject solely to time-based vesting terms as of the Severance Date, will fully vest as of the Severance Date; provided that, in the case of Eligible Level III Employees and Eligible Level IV Employees, if an Equity Award was granted during the Potential Change in Control Period, a pro-rata portion of such Equity Award will vest equal to (i) the number of shares of common stock of the Company subject to the Equity Award multiplied by a fraction the numerator of which is the number of days such Eligible Employee was employed by the Company or a Subsidiary from the grant date through the Severance Date and the denominator of which is the total number of days in the full vesting period applicable to the Equity Award, less (ii) the number of shares of common stock of the Company subject to such Equity Award that vested prior to the date of termination of employment of such Eligible Employee (if any). Any such Equity Awards that are in the nature of an exercisable right, such as stock options or stock appreciation rights will remain exercisable for the remainder of the full initial term of such award (without regard to any shorter period that may be generally applicable after employment ends for any reason).

Notwithstanding anything to the contrary in this Section 2.4(a), the treatment of equity awards that are not assumed or substituted for in connection with a Change in Control will be in accordance with the equity plan and award agreement pursuant to which such awards were granted, and the agreement evidencing such award.

(b)        For purposes of this Section 2.4:

(i)        Any Equity Awards described above as “granted or assumed by the Company” will be deemed to include (without duplication of benefits) Equity Awards that are assumed, or replaced with substituted equity awards, by the successor to the Parent or surviving company in connection with the Change in Control (such entity, the “Successor”). The provisions of Section 2.4(a) will be binding upon such Successor and included in the terms of the Equity Awards.

(ii)        This Section 2.4 will not apply with respect to a grant or award of stock options, restricted stock units or any other equity-based awards made after the Effective Date if the agreement granting or awarding the applicable award specifically provides that the grant will not be subject to the provisions of this Section 2.4 or this Plan. To the extent that any equity award agreement entered into after the Effective Date provides a greater benefit to the Eligible Employee than any provisions of this Section 2.4, the provisions of that equity award agreement will supersede and govern such equity award  (without duplication of benefits). Except as provided in the first sentence of this sub-paragraph (ii), to the extent the provisions of this Section 2.4 provide a greater benefit to the Eligible Employee than any inconsistent provisions of any equity compensation plan or award agreement, the provisions of this Section 2.4 will supersede and govern such equity award (without duplication of benefits). Any awards granted after the Effective Date of this Plan will be subject to the acceleration rights set forth in the Plan unless those grants include an express/affirmative statement to the effect that they are excluded from the Plan.

5.         Benefit Continuation. Subject to Sections 2.6, 4 and 6.2 hereof, in the case of each Eligible Employee who incurs a Severance, commencing on the date immediately following such Eligible Employee's Severance Date and continuing for the period set forth below (the “Welfare Benefit Continuation Period”), the Company will provide, at the Company's sole expense, to each such Eligible Employee (and anyone entitled to claim under or through such Eligible Employee) all Company-paid benefits under any group medical, vision and dental plan of the Company (as in effect immediately prior to such Eligible Employee's Severance Date) for which Eligible Employees of the Company are eligible, to the same extent as if such Eligible Employee had continued to be an Eligible Employee of the Company during the Welfare Benefit Continuation Period. To the extent that such Eligible Employee's participation in Company benefit plans is not practicable or would cause the Eligible Employees to be subject to tax on the benefits, the Company will arrange to provide, at the Company's sole expense, such Eligible Employee (and anyone entitled to claim under or through such Eligible Employee) with equivalent benefits under an alternative arrangement during the Welfare Benefit Continuation Period; provided, however, that such alternative arrangement (including, but not limited to, the fully-insured group medical, vision and dental plan sponsored by the Company in existence on the Effective Date) would eliminate any adverse tax consequences to the Eligible Employee. The coverage period for purposes of the group health continuation requirements of Section 4980B of the Code will commence at the Severance Date or, if later, the date that coverage under each such plan would otherwise expire, and will run concurrently with the Welfare Benefit Continuation Period. The Welfare Benefit Continuation Period will range from 12 to 24 months for such Eligible Employees as follows:

(a)        Eligible Level I Employees:  24 months

(b)        Eligible Level II Employees:  24 months

(c)        Eligible Level III Employees:  24 months

(d)        Eligible Level IV Employees:  24 months

(e)        Eligible Level V Employees:  12 months

Notwithstanding the foregoing, to the extent that an Eligible Level I Employee is otherwise entitled, under a written employment agreement entered into prior to the Effective Date, to a longer Welfare Benefit Continuation Period and/or more beneficial welfare benefits than that described in this Section 2.5, such employment agreement will supersede and govern any inconsistency with this Section 2.5 (without duplication of benefits).

6.         Release; Restrictive Covenants; Benefit Commencement Date. No Eligible Employee who incurs a Severance will be eligible to receive any payments or other benefits under the Plan (other than payments under Section 2.2(a)) unless, within 45 days following such Eligible Employee's Severance Date, he or she first executes a release (as substantially in the form of Exhibit A hereto, or in such other form as is required to comply with applicable law, a “Release”) in favor of the Company and others set forth on Exhibit A, and such Release becomes effective and has not been revoked by the Eligible Employee within 7 days of the Eligible Employee's execution of such Release. Provided that the Eligible Employee executes and does not revoke the Release in accordance with the requirements of this Section 2.6, any payments or other benefits under the Plan will commence (the “Benefit Commencement Date”) on the first regularly scheduled payroll date following the date on which the Release becomes effective and irrevocable, provided that if the period for review and revocation of the Release spans two taxable years, any payments or other benefits under the Plan shall commence in the second taxable year and all payments or benefits accrued during the period between the Severance Date and Benefit Commencement Date will be provided in full on the Benefit Commencement Date; provided further that, in no event with the payments set forth in Section 2.3 be paid later than March 15th of the year following the year in which the Severance Date occurs. If the Eligible Employee does not execute and return such Release such that it does not become effective within the foregoing period, the Eligible Employee will cease to be entitled to any payments or benefits under this Plan (other than under Section 2.2(a)). In addition, payment and other benefits under this Plan will cease as of the date that the Eligible Employee breaches any of the material provisions of such Eligible Employee's Proprietary Information and Inventions Agreement, or other similar agreement then in effect.

7.         409A. Notwithstanding any provision to the contrary in this Plan, no payment or distribution under this Plan which constitutes an item of deferred compensation under Section 409A of the Code and becomes payable by reason of the Eligible Employee's termination of employment with the Company will be made to the Eligible Employee unless the Eligible Employee's termination of employment constitutes a “separation from service” (as such term is defined in Treasury Regulations issued under Section 409A of the Code). In addition, no such payment or distribution will be made to the Eligible Employee prior to the earlier of (a) the expiration of the six-month period measured from the date of the Eligible Employee's “separation from service” (as such term is defined in Treasury Regulations issued under Section 409A of the Code) or (b) the date of the Eligible Employee's death, if the Eligible Employee is deemed at the time of such separation from service to be a “key employee” within the meaning of that term under Section 416(i) of the Code and to the extent such delayed commencement is otherwise required in order to avoid a prohibited distribution under the Treasury Regulations issued under Section 409A of the Code. All payments and benefits which had been delayed pursuant to the immediately preceding sentence will be paid to the Eligible Employee in a lump sum upon expiration of such six-month period (or if earlier upon the Eligible Employee's death). Notwithstanding anything to the contrary in Section 2.4 or this Section 2.7, any Equity Awards that are subject to Section 409A of the Code as of the Effective Date (or that subsequently become subject to Section 409A) will be paid at such time or times as are set forth in the agreements evidencing such Equity Awards and in accordance with Section 409A of the Code. It is intended that this Plan and all payments and benefits hereunder will comply with or be exempt from, the provisions of Section 409A of the Code and the Treasury Regulations relating thereto so as not to subject the Eligible Employee to the payment of additional taxes and interest under Section 409A of the Code. In furtherance of this intent, this Plan will be interpreted, operated, and administered in a manner consistent with these intentions. Notwithstanding anything to the contrary in this Plan and without limiting this Section 2.7, in the event that the Plan Administrator determines that any payment or distribution under the Plan may be subject to Section 409A of the Code and related Department of Treasury guidance, the Plan Administrator may adopt such amendments to the Plan or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, including any amendments or actions that would result in a reduction to the benefit payable under the Plan, in each case, without the consent of the Eligible Employee, that the Plan Administrator determines are reasonable, necessary or appropriate to comply with the requirements of Section 409A of the Code and related Department of Treasury 

guidance. In that light, the Company makes no representation or covenant to ensure that the payments or distributions under the Plan are exempt from or compliant with Section 409A of the Code and will have no liability to an Eligible Employee or any other party if a payment or distribution under the Plan that is intended to be exempt from, or compliant with, Section 409A of the Code is not so exempt or compliant or for any action taken by the Plan Administrator with respect thereto.

Section 3    Plan Administration.

1.        The Plan Administrator will administer the Plan and may interpret the Plan, prescribe, amend and rescind rules and regulations under the Plan and make all other determinations necessary or advisable for the administration of the Plan, subject to all of the provisions of the Plan.

2.        The Plan Administrator may delegate any of its duties hereunder to such person or persons from time to time as it may designate.

3.        The Plan Administrator is empowered, on behalf of the Plan, to engage accountants, legal counsel and such other personnel as it deems necessary or advisable to assist it in the performance of its duties under the Plan. The functions of any such persons engaged by the Plan Administrator will be limited to the specified services and duties for which they are engaged, and such persons will have no other duties, obligations or responsibilities under the Plan. Such persons will exercise no discretionary authority or discretionary control respecting the management of the Plan. All reasonable expenses thereof will be borne by the Company.

Section 4          Excise Tax Limitation on Benefits.

If any payment or benefit received or to be received by an Eligible Employee (including any payment or benefit received pursuant to the Plan or otherwise) would be (in whole or part) subject to the excise tax imposed by Section 4999 of the Code, or any successor provision thereto, or any similar tax imposed by state or local law, or any interest or penalties with respect to such excise tax (such tax or taxes, together with any such interest and penalties, are hereafter collectively referred to as the “Excise Tax”), then, the lump sum cash payments provided under Section 2.3 will first be reduced (and thereafter, if necessary, the accelerated vesting provided in Section 2.4 will be reduced) to the extent necessary to make such payments and benefits not subject to such Excise Tax, but only if such reduction results in a higher after-tax payment to the Eligible Employee after taking into account the Excise Tax and any additional taxes the Eligible Employee would pay if such payments and benefits were not reduced. Notwithstanding anything to the contrary in this Section 4, payments or benefits payable hereunder that constitute nonqualified deferred compensation subject to Section 409A of the Code will be reduced or eliminated last in time.

Section 5          Plan Modification or Termination.

1.        As long as no Potential Change in Control Period or CIC Covered Period is in effect, the Board (including the Board in place following a Fundamental Board Change) may amend or terminate the Plan at any time without any liability to any Eligible Employee, Plan participant or beneficiary or other employee of, or service provider to, the Company. During any Potential Change in Control Period or CIC Covered Period, the Board may not, except as provided in Section 5.2, (a) terminate the Plan or (b) amend the Plan if such amendment would in any manner be adverse to the interests of any Eligible Employee, Plan participant or beneficiary. Any action taken by the Company or the Plan Administrator during the CIC Covered Period to cause an Eligible Employee to no longer be designated as a Level I Employee, or Level II Employee or to decrease the payments or benefits for which an Eligible Employee is eligible will be treated as an amendment to the Plan which is adverse to the interests of any Eligible Employee. Any amendment to this Section 5 during the CIC Covered Period, will be treated as an amendment to the Plan which is adverse to the interests of any Eligible Employee.

2.        Notwithstanding the foregoing Section 5.1, the Plan Administrator may amend the Plan at any time and in any manner necessary to comply with applicable law, including, but not limited to, Section 409A of the Code.

Section 6          General Provisions.

1.        Limitation on Assignment. Except as otherwise provided herein or by law, no right or interest of any Eligible Employee under the Plan will be assignable or transferable, in whole or in part, either directly or by operation of law or otherwise, including without limitation by execution, levy, garnishment, attachment, pledge or in any manner; no attempted assignment or transfer thereof will be effective; and no third party creditors of an Eligible Employee will have any right or interest in any Eligible Employee's rights or interests under the Plan. When a payment is due under this Plan to a severed employee who is unable to care for his or her affairs or dies after accruing benefit rights under the Plan, payment may be made directly to his or her legal guardian or personal representative, executor or estate administrator, as the case may be.

2.        Reduction for Other Severance Benefits. If the Parent or any subsidiary thereof (including, for the purpose of this Section 6.2, any controlled Affiliate thereof) is obligated by law or by contract to pay severance pay, a termination indemnity, notice pay, or the like, then any severance pay and/or benefits hereunder will be reduced by the amount of any such severance pay, termination indemnity, notice pay or the like, as applicable, by the amount of any such payment. Any payments or benefits payable hereunder that constitute nonqualified deferred compensation subject to Section 409A of the Code will be reduced or eliminated last in time.

3.        No Right to Continued Employment. Neither the establishment of the Plan, nor any modification thereof, nor the creation of any fund, trust or account, nor the payment of any benefits will be construed as giving any Eligible Employee, or any person whomsoever, the right to be retained in the service of the Company, and all Eligible Employees will remain subject to discharge to the same extent as if the Plan had never been adopted.

4.        Severability. If any provision of this Plan is determined to be invalid, illegal or unenforceable, the remaining provisions of this Plan will not affect any other provisions hereof, and this Plan will be construed and enforced as if such provisions had not been included.

5.        Successors. Except for limitations on assignment set forth in Section 6.1, this Plan will be binding upon and inure to the benefit of the Company and each Eligible Employee and their respective successors, assigns, heirs, executors, and administrators. In the event of a Change in Control, the surviving entity or any parent thereof shall expressly assume this Plan.

6.        Language. All words used in this Plan should be construed to be of such gender or number as the circumstances require. The headings and captions herein are provided for reference and convenience only and are not intended to affect the construction or interpretation of this Plan.

7.        Unfunded Plan. The Plan will not be required to be funded unless such funding is authorized by the Board in its sole discretion. Regardless of whether the Plan is funded, no Eligible Employee will have any right to, or interest in, any assets of any Company which may be applied by the Company to the payment of benefits or other rights under this Plan.

8.        Notice. Any notice or other communication required or permitted pursuant to the terms hereof will have been duly given when delivered or mailed by United States Mail, first class, postage prepaid (or such local equivalent thereof), addressed to the intended recipient at his, her or its last known address.

9.        Governing Law. This Plan will be construed and enforced in accordance with the laws of the State of Delaware (without giving effect to any choice or conflict of law provision or rule (whether of the State of Delaware or any other jurisdiction) that would cause the application of laws of any other jurisdiction), to the extent not otherwise preempted by ERISA.

10.        Withholding. All benefits hereunder will be reduced by withholding of federal, state and local income or other taxes, and any foreign taxes, and will be subject to applicable tax reporting, as the Company may deem necessary or appropriate for purposes of compliance with applicable tax laws.

Section 7          Claims, Inquiries, Appeals.

1.        Applications for Benefits and Inquiries. Any application for benefits, inquiries about the Plan or inquiries about present or future rights under the Plan must be submitted to the claims administrator in writing, as follows:

claims administrator
c/o Maxim Integrated Products, Inc.
160 Rio Robles, San Jose, CA 95134
Attention: General Counsel

2.        Denial of Claims. In the event that any application for benefits is denied in whole or in part, the claims administrator must notify the applicant, in writing, of the denial of the application, and of the applicant's right to review the denial. The written notice of denial will be set forth in a manner designed to be understood by the employee, and will include specific reasons for the denial, specific references to the Plan provision upon which the denial is based, a description of any information or material that the claims administrator needs to complete the review and an explanation of the Plan's review procedure.

This written notice will be given to the employee within 30 days after the claims administrator receives the application, unless special circumstances require an extension of time, in which case, the claims administrator has up to an additional 30 days for processing the application. If an extension of time for processing is required, written notice of the extension will be furnished to the applicant before the end of the initial 30-day period.

This notice of extension will describe the special circumstances necessitating the additional time and the date by which the claims administrator is to render his or her decision on the application. If written notice of denial of the application for benefits is not furnished within the specified time, the application will be deemed to be denied. The applicant will then be permitted to appeal the denial in accordance with the review procedure described below.

3.        Request for a Review. Any person (or that person's authorized representative) for whom an application for benefits is denied (or deemed denied), in whole or in part, may (but without any obligation to do so) appeal the denial by submitting a request for a review to the Plan Administrator within 60 days after the application is denied (or deemed denied). The Plan Administrator will give the applicant (or his or her representative) an opportunity to review pertinent documents in preparing a request for a review and submit written comments, documents, records and other information relating to the claim. A request for a review will be in writing and will be addressed to:
Plan Administrator

c/o Maxim Integrated Products, Inc.
160 Rio Robles, San Jose, CA 95134
Attention: Associate General Counsel

A request for review must set forth all of the grounds on which it is based, all facts in support of the request and any other matters that the applicant feels are pertinent. The Plan Administrator may require the applicant to submit additional facts, documents or other material as he or she may find necessary or appropriate in making his or her review.

4.        Decision on Review. The Plan Administrator will act on each request for review within 20 days after receipt of the request, unless special circumstances require an extension of time (not to exceed an additional 20 days), for processing the request for a review. If an extension for review is required, written notice of the extension will be furnished to the applicant within the initial 20-day period. The Plan Administrator will give prompt, written 

notice of his or her decision to the applicant. In the event that the Plan Administrator confirms the denial of the application for benefits in whole or in part, the notice will outline, in a manner calculated to be understood by the applicant, the specific Plan provisions upon which the decision is based. If written notice of the Plan Administrator's decision is not given to the applicant within the time prescribed in this Section 7.4 the application will be deemed denied on review.

5.        Rules and Procedures. The Plan Administrator may establish rules and procedures, consistent with the Plan and with ERISA, as necessary and appropriate in carrying out his or her responsibilities in reviewing benefit claims. The Plan Administrator may require an applicant who wishes to submit additional information in connection with an appeal from the denial (or deemed denial) of benefits to do so at the applicant's own expense.

6.        Exhaustion of Remedies. No claim for benefits under the Plan may be brought in any forum until the claimant (a) has submitted a written application for benefits in accordance with the procedures described by Section 7.1 above, (b) has been notified by the claims administrator that the application is denied (or the application is deemed denied due to the claims administrator's failure to act on it within the established time period), (c) has filed a written request for a review of the application in accordance with the appeal procedure described in Section 7.3 above and (d) has been notified in writing that the Plan Administrator has denied the appeal (or the appeal is deemed to be denied due to the Plan Administrator's failure to take any action on the claim within the time prescribed by Section 7.4 above).

7.        Final Dispute Resolution. Any and all disputes under this Plan (including but not limited to disputes regarding interpretation, scope, or validity of the Plan, any pendant state claims if not otherwise preempted by ERISA) remains unresolved after the exhaustion of the claims procedure outlined in Sections 7.1 through 7.6, above, will be submitted to the exclusive jurisdiction of the United States District Court for the Northern District of California. 

8.        Attorneys' Fees. In the event of any dispute under this Plan, the court may award attorneys' fees as provided under 29 U.S.C. 1132(g)(1).Exhibit 10.1

 

FIRST AMENDMENT TO ABL CREDIT AGREEMENT

 

THIS FIRST AMENDMENT
TO ABL CREDIT AGREEMENT (this “First Amendment”), dated January 26, 2021, is among Rent-a-center,
inc. (the “Borrower”), each of the Guarantors party hereto, JPMORGAN CHASE BANK, N.A., as administrative
agent for the Lenders (in such capacity, the “Administrative Agent”) and each of the Lenders party hereto.

RECITALS:

 

WHEREAS, the Borrower,
the Administrative Agent and each of the lenders from time to time party thereto (each a “Lender” and collectively,
the “Lenders”) are parties to that certain ABL Credit Agreement, dated as of August 5, 2019 (as the same may
have been amended, restated, amended and restated, supplemented or otherwise modified to date, the “Existing Credit Agreement”
and as so amended by this First Amendment, the “Credit Agreement”) pursuant to which the Lenders have made certain
credit available to and on behalf of the Borrower;

 

WHEREAS, the Borrower,
the Guarantors, the Administrative Agent and the Lenders party hereto desire to amend the Existing Credit Agreement as further
set forth in this First Amendment;

 

NOW, THEREFORE, in
consideration of the foregoing and the agreements, promises and covenants set forth below, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

SECTION
1:   Definitions. Capitalized terms used in this First Amendment, to the extent not otherwise defined herein, shall
have the same meaning as in the Credit Agreement. The principles of interpretation set forth in the Credit Agreement shall apply
to this First Amendment in all respects. Unless otherwise indicated herein, section references in this First Amendment refer to
sections in the Existing Credit Agreement.

 

SECTION
2:   Amendments to Existing Credit Agreement. On, and subject to the occurrence of, the Amendment
Effective Date, the following amendments to the Existing Credit Agreement shall become effective.

 

(a)           Amendments
to Section 1.1. Section 1.1 of the Existing Credit Agreement is hereby amended as follows:

 

(i)                
The following defined terms are either added in appropriate alphabetical order or amended and restated, in either case to
read in their entirety as follows:

 

“ABL/Fixed
Asset Intercreditor Agreement” means that certain ABL/Fixed Asset Intercreditor Agreement, to be dated as of the Alta
Acquisition Effective Date, among the Borrower, the Subsidiary Guarantors, the Administrative Agent, the agent for the Term Loan
Facility and the representative for the Secured Notes, as the same may be amended, restated, amended and restated, modified, supplemented
and/or replaced (in form reasonably satisfactory to the Administrative Agent) from time to time.

 

     

     

    

 

“Affected
Financial Institution” means (a) any EEA Financial Institution or (b) any UK Financial Institution.

 

“Alta
Acquisition” means the “Acquisition”, as defined in Exhibit M.

 

“Alta
Acquisition Agreement” means the “Acquisition Agreement” as defined in Exhibit M.

 

“Alta
Acquisition Effective Date” means the date of the satisfaction or waiver by the Committed Lead Arrangers of the conditions
set forth in Exhibit N and the initial funding of the Term Loan Facility, Secured Notes, Secured Bridge Facility, Unsecured Notes
and/or Unsecured Bridge Facility, as the case may be.

 

“Alta
Arranger Fee Letter” means that certain Arranger Fee Letter, dated as of December 20, 2020, by and among the Borrower
and the Committed Lead Arrangers.

 

“Alta
Commitment Letter” means that certain Commitment Letter, dated as of December 20, 2020, by and among the Borrower and
the Committed Lead Arrangers.

 

“Alta
Entities” means the “Acquired Business”, as defined in Exhibit M.

 

“Alta
Initial Lenders” means the “Initial Lenders” as defined in the Alta Commitment Letter.

 

“Alta
Transactions” means the transactions described in Exhibit M, including the Alta Acquisition.

 

“Bail-In
Action” means the exercise of any Write-Down and Conversion Powers by the applicable Resolution Authority in respect
of any liability of an Affected Financial Institution.

 

“Bail-In
Legislation” means (a) with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the
European Parliament and of the Council of the European Union, the implementing law, regulation rule or requirement for such EEA
Member Country from time to time which is described in the EU Bail-In Legislation Schedule and (b) with respect to the United Kingdom,
Part I of the United Kingdom Banking Act 2009 (as amended from time to time) and any other law, regulation or rule applicable in
the United Kingdom relating to the resolution of unsound or failing banks, investment firms or other financial institutions or
their affiliates (other than through liquidation, administration or other insolvency proceedings).

 

    	 	2	 

     

    

 

“Base
Incremental Amount” means as of any date, (a) if the Alta Acquisition Effective Date occurs, an amount equal to (i) the
greater of (A) $500,000,000 and (B) 100% of Consolidated EBITDA calculated on a Pro Forma Basis for the Applicable Reference Period
less (ii) the aggregate principal amount of Indebtedness established pursuant to Section 7.2(b) or Section 7.2(t) after the Alta
Acquisition Effective Date and prior to such date in reliance on the Base Incremental Amount or (b) if the Alta Acquisition Effective
Date does not occur, an amount equal to (i) $150,000,000 less (ii) the aggregate principal amount of Indebtedness established pursuant
to Section 7.2(b) or Section 7.2(t) after the Closing Date and prior to such date in reliance on the Base Incremental Amount.

 

“Bridge
Facilities” has the meaning set forth on Exhibit M.

 

“Cash
Interest Coverage Ratio” means as at the last day of any Reference Period, the ratio of (a) Consolidated Interest Expense
for such period to (b) Consolidated EBITDA for such period.

 

“Committed
Lead Arrangers” means the “Lead Arrangers” as defined in the Alta Commitment Letter.

 

“Consolidated
Senior Secured Debt” means at any date, Consolidated Total Debt (other than Indebtedness that is secured only by Liens
that are junior to the Liens securing the Initial Term Loans (as defined in the Term Loan Credit Agreement)) at such date that
is secured by a Lien on any property of any Group Member.

 

“Consolidated
Senior Secured Leverage Ratio” means as at the last day of any Reference Period, the ratio of (a)(i) Consolidated Senior
Secured Debt on such day less (ii) the aggregate Unrestricted Cash of the Group Members on such day to (b) Consolidated EBITDA
for such period.

 

“Controlling
Fixed Asset Representative” means (a) if the Alta Acquisition Effective Date occurs, the meaning given to such term in
the Intercreditor Agreement and (b) if the Alta Acquisition Effective Date does not occur, “Term Loan Representative”
as defined in the Intercreditor Agreement

 

“Debt
Repayment” has the meaning set forth on Exhibit M.

 

“ECP Fallaway
Date” has the meaning given to such term in Section 6.13(d).

 

“Electronic
Chattel Paper” means “electronic chattel paper”, as defined in article 9 of the New York Uniform Commercial
Code.

 

“Electronic
Chattel Paper Control System Implementation Date” means the first date on which (a) the Administrative Agent has “control”
(as defined in and provided for in the New York Uniform Commercial Code) over Subject Agreements in the form of Electronic Chattel
Paper, (b) such system for “control” is reasonably satisfactory to the Administrative Agent in all respects prior to
its implementation and (c) with respect to such system, the Administrative Agent has received such audits and third party security
assurances as it may have requested in its Permitted Discretion. It is understood and agreed that such determination may be evidenced
by separate agreement signed by the Administrative Agent and the Borrower.

 

    	 	3	 

     

    

 

“First
Amendment” means that certain First Amendment to the ABL Credit Agreement, dated as of January 26, 2021, among the Borrower,
the Guarantors, the Administrative Agent and the Lenders party thereto.

 

“First
Amendment Effective Date” means January 26, 2021.

 

“Fixed
Asset Collateral” means (a) if the Alta Acquisition Effective Date occurs, the meaning given to such term in the Intercreditor
Agreement and (b) if the Alta Acquisition Effective Date does not occur, “Term Loan Priority Collateral” as defined
in the Intercreditor Agreement.

 

“Fixed
Asset Obligations Payment Date” means (a) if the Alta Acquisition Effective Date occurs, the meaning given to such term
in the Intercreditor Agreement and (b) if the Alta Acquisition Effective Date does not occur, “Term Loan Obligations Payment
Date” as defined in the Intercreditor Agreement.

 

“Fixed
Asset Secured Parties” means (a) if the Alta Acquisition Effective Date occurs, the meaning given to such term in the
Intercreditor Agreement and (b) if the Alta Acquisition Effective Date does not occur, “Term Loan Secured Parties”
as defined in the Intercreditor Agreement.

 

“Funding
SPV” means Radiant Funding SPV, LLC, a Delaware limited liability company.

 

“Intercreditor
Agreement” means (a) if the Alta Acquisition Effective Date occurs, the ABL/Fixed Asset Intercreditor Agreement and any
other intercreditor agreement substantially in the form of thereof or (b) if the Alta Acquisition Effective Date does not occur,
the ABL/Term Loan Intercreditor Agreement, dated as of the Closing Date, among the Borrower, the Subsidiary Guarantors, the Administrative
Agent and the Term Loan Administrative Agent, and any other intercreditor agreement substantially in the form of Exhibit K, in
each case, as may be amended, modified or supplemented from time to time.

 

“Junior
Indebtedness” means (a) if the Alta Acquisition Effective Date occurs, (i) any Subordinated Indebtedness and (ii) any
Specified Indebtedness (other than the Term Loans, the Secured Notes, Indebtedness under the Secured Bridge Facility, any Pari
Passu Secured Indebtedness and any Permitted Refinancing Indebtedness in respect thereof) of any Group Member that is secured by
a Lien on the Collateral that is junior to the Lien on the Collateral securing the Obligations and (b) if the Alta Acquisition
Effective Date does not occur, (i) any Subordinated Indebtedness and (ii) any Specified Indebtedness (other than the Term Loans,
any Pari Passu Secured Indebtedness and any Permitted Refinancing Indebtedness in respect thereof) of any Group Member that is
secured by a Lien on the Collateral that is junior to the Lien on the Collateral securing the Obligations.

 

    	 	4	 

     

    

 

“Maximum
Term Loan Incremental Amount” means:

 

(a) if the Alta
Acquisition Effective Date occurs the sum of:

 

(i) an
amount represented by Incremental Term Loans (as defined in the Term Loan Credit Agreement) to be established pursuant to Section
2.24 of the Term Loan Credit Agreement, that are secured by Liens on the Collateral that are pari passu to the Liens on
Collateral securing the Term Loans, if immediately after giving effect to the establishment thereof (excluding from Unrestricted
Cash in making such pro forma calculation the Net Cash Proceeds of such Incremental Term Loans) the Consolidated Senior Secured
Leverage Ratio for the Applicable Reference Period, calculated on a Pro Forma Basis as of the date of incurrence of such Indebtedness,
would be equal to or less than either (A) 2.00 to 1.00 or (B) in the case of Incremental Term Loans (as defined in the Term Loan
Credit Agreement) incurred in connection with a Permitted Acquisition or Investment permitted hereunder, the Consolidated Senior
Secured Leverage Ratio immediately prior to such Permitted Acquisition or Investment giving pro forma effect to such Permitted
Acquisition or Investment,

 

(ii) an
amount represented by Incremental Term Loans (as defined in the Term Loan Credit Agreement) to be established pursuant to Section
2.24 of the Term Loan Credit Agreement, that are secured by Liens on the Collateral that are junior to the Liens on Collateral
securing the Term Loans, if immediately after giving effect to the establishment thereof (excluding from Unrestricted Cash in making
such pro forma calculation the Net Cash Proceeds of such Incremental Term Loans) the Consolidated Secured Leverage Ratio for the
Applicable Reference Period, calculated on a Pro Forma Basis as of the date of incurrence of such Indebtedness, would be equal
to or less than either (A) 2.00 to 1.00 or (B) in the case of Incremental Term Loans (as defined in the Term Loan Credit Agreement)
incurred in connection with a Permitted Acquisition or Investment permitted hereunder, the Consolidated Secured Leverage Ratio
immediately prior to such Permitted Acquisition or Investment giving pro forma effect to such Permitted Acquisition or Investment,
and

 

(iii) an
amount represented by Incremental Term Loans (as defined in the Term Loan Credit Agreement) to be established pursuant to Section
2.24 of the Term Loan Credit Agreement, that are unsecured, if immediately after giving effect to the establishment thereof (excluding
from Unrestricted Cash in making such pro forma calculation the Net Cash Proceeds of such Incremental Term Loans) either (A) the
Consolidated Leverage Ratio for the Applicable Reference Period, calculated on a Pro Forma Basis as of the date of incurrence of
such Indebtedness, would be equal to or less than either (I) 2.50 to 1.00 or (II) in the case of Incremental Term Loans (as defined
in the Term Loan Credit Agreement) incurred in connection with a Permitted Acquisition or Investment permitted hereunder, the Consolidated
Leverage Ratio immediately prior to such Permitted Acquisition or Investment giving pro forma effect to such Permitted Acquisition
or Investment or (B) the Cash Interest Coverage Ratio for the Applicable Reference Period, calculated on a Pro Forma Basis as of
the date of incurrence of such Indebtedness, would be equal to or greater than either (I) 2.00:1.00 or (II) in the case of Incremental
Term Loans (as defined in the Term Loan Credit Agreement) incurred in connection with a Permitted Acquisition or Investment permitted
hereunder, the Cash Interest Coverage Ratio immediately prior to such Permitted Acquisition or Investment giving pro forma effect
to such Permitted Acquisition or Investment or

 

    	 	5	 

     

    

 

(b) if the Alta
Acquisition Effective Date does not occur, an amount represented by Incremental Term Loans (as defined in the Term Loan Credit
Agreement) to be established pursuant to Section 2.24 of the Term Loan Credit Agreement that would not, immediately after giving
effect to the establishment thereof (excluding from Unrestricted Cash in making such pro forma calculation the Net Cash Proceeds
of such Incremental Term Loans), cause the Consolidated Secured Leverage Ratio for the Applicable Reference Period, calculated
on a Pro Forma Basis as of the date of incurrence of such Indebtedness, to exceed 2.00 to 1.00; provided that, with respect
to Term Loan Incremental Equivalent Debt established pursuant to Section 7.2(t), in lieu of the Consolidated Secured Leverage Ratio
test applicable to Incremental Term Loans, such test with respect to Term Loan Incremental Equivalent Debt (which in each case
shall be calculated excluding from Unrestricted Cash in making such pro forma calculation the Net Cash Proceeds of such Term Loan
Incremental Equivalent Debt) shall instead be: (1) in the case of such Indebtedness secured by Liens on the Collateral on a pari
passu basis with, or on a junior basis to, the Liens on the Collateral securing the Term Loans, a Consolidated Secured Leverage
Ratio not to exceed 2.00 to 1.00 or (2) in the case of such unsecured Indebtedness, a Consolidated Leverage Ratio not to exceed
2.50 to 1.00.

 

“Original
Term Loan Credit Agreement” has the meaning set forth in the definition of “Term Loan Credit Agreement.”

 

“Resolution
Authority” means an EEA Resolution Authority or, with respect to any UK Financial Institution, a UK Resolution Authority.

 

“Secured
Bridge Facility” has the meaning set forth on Exhibit M.

 

“Secured
Notes” has the meaning set forth on Exhibit M.

 

“Secured
Notes Security Documents” means the collective reference to all security documents delivered to the agent under the Secured
Bridge Facility and/or the Secured Notes and granting a Lien on any property of any Person to secure the obligations and liabilities
of any Loan Party under the Secured Bridge Facility and/or the Secured Notes.

 

    	 	6	 

     

    

 

“Specified
Alta Acquisition Agreement Representations” means such of the representations and warranties made by or on behalf of
the Alta Entities in the Alta Acquisition Agreement as are material to the interests of the Lenders, but only to the extent that
the Borrower (or its affiliates) have the right (taking into account any applicable cure provisions) to terminate its (or such
affiliates’) obligations under the Alta Acquisition Agreement or decline to consummate the Alta Acquisition as a result of
a breach of such representations and warranties in the Alta Acquisition Agreement.

 

“Specified
Representations” means the representations and warranties of the Borrower and each Guarantor set forth in Section 4.3(a),
Section 4.4(a), Section 4.5 (only as to the Group Members’ Organizational Documents), Section 4.11, Section 4.14, Section
4.19, Section 4.20 and the final sentence of Section 4.23.

 

“Term
Loan Credit Agreement” means (a) if the Alta Acquisition Effective Date occurs, the term loan credit agreement that refinances
and replaces the Original Term Loan Credit Agreement on the Alta Acquisition Effective Date or (b) if the Alta Acquisition Effective
Date does not occur, the Term Loan Credit Agreement, dated as of the Closing Date, among the Borrower, the lenders and agents party
thereto and the Term Loan Administrative Agent (the “Original Term Loan Credit Agreement”), in each case, as
the same may be amended, restated, amended and restated, modified, supplemented, refinanced and/or replaced from time to time in
accordance with the terms thereof and the Intercreditor Agreement to the extent constituting Permitted Refinancing Indebtedness.

 

“Term
Loan Facility” has the meaning set forth on Exhibit M.

 

“UK Financial
Institutions” means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended form time to time)
promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook
(as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions
and investment firms, and certain affiliates of such credit institutions or investment firms.

 

“UK Resolution
Authority” means the Bank of England or any other public administrative authority having responsibility for the resolution
of any UK Financial Institution.

 

“Unsecured
Bridge Facility” has the meaning set forth on Exhibit M.

 

“Unsecured
Notes” has the meaning set forth on Exhibit M.

 

    	 	7	 

     

    

 

“Voluntary
Prepayment Amount” means as of any date, (a) if the Alta Acquisition Effective Date occurs, an amount equal to (i) the
sum of the aggregate principal amount of all optional prepayments of Term Loans made after the Alta Acquisition Effective Date
and prior to such date (excluding prepayments made with the proceeds of long-term Indebtedness) less (ii) the aggregate principal
amount of Indebtedness established pursuant to Section 7.2(b) or Section 7.2(t) after the Closing Date and prior to such date in
reliance on the Voluntary Prepayment Amount; provided that (i) no prepayment of Term Loans secured on a junior basis to
the Term Loan Facility shall increase the Voluntary Prepayment Amount with respect to Indebtedness to be secured on a pari passu
basis with the Term Loan Facility and (ii) no prepayment of unsecured Term Loans shall increase the Voluntary Prepayment Amount
with respect to Indebtedness to be secured or (b) if the Alta Acquisition Effective Date does not occur, an amount equal to (i)
the sum of the aggregate principal amount of all optional prepayments of Term Loans made after the Closing Date and prior to such
date (excluding prepayments made with the proceeds of long-term Indebtedness) less (ii) the aggregate principal amount of Indebtedness
established pursuant to Section 7.2(b) or Section 7.2(t) after the Closing Date and prior to such date in reliance on the Voluntary
Prepayment Amount.

 

“Write-Down
and Conversion Powers” means, (a) with respect to any EEA Resolution Authority, the write-down and conversion powers
of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down
and conversion powers are described in the EU Bail-In Legislation Schedule, and (b) with respect to the United Kingdom, any powers
of the applicable Resolution Authority under the Bail-In Legislation to cancel, reduce, modify or change the form of a liability
of any UK Financial Institution or any contract or instrument under which that liability arises, to convert all or part of that
liability into shares, securities or obligations of that person or any other person, to provide that any such contract or instrument
is to have effect as if a right had been exercised under it or to suspend any obligation in respect of that liability or any of
the powers under that Bail-In Legislation that are related to or ancillary to any of those powers.

 

(ii)             
The last sentence of the defined term “Borrowing Base” is amended and restated to read in its entirety as follows:

 

The Borrowing Base
at any time shall be determined by reference to the most recent Borrowing Base Certificate delivered to the Administrative Agent
pursuant to Section 6.2(g) or 6.2(i) of this Agreement; provided, that if the Alta Acquisition Effective Date occurs, the
Borrowing Base shall be that determined by reference to the Borrowing Base Certificate furnished to the Administrative Agent pursuant
to Section 6.14(b) until the next delivery of a Borrowing Base Certificate pursuant to the provisions of this Agreement.

 

(iii)             The
definitions of “Term Loan Obligations Payment Date,” “Term Loan Priority Collateral” and “Term Loan
Representative” are deleted in their entirety.

 

(b)          Amendment
to Section 2.24(a)(ii). Section 2.24(a)(ii) of the Existing Credit Agreement is hereby amended and restated to read
in its entirety as follows:

 

    	 	8	 

     

    

 

(ii) the
aggregate amount of Incremental Commitments obtained after the Closing Date pursuant to this Section 2.24 shall not exceed (A)
if the Alta Acquisition Effective Date occurs, $325,000,000 or (B) if the Alta Acquisition Effective Date does not occur, $100,000,000.

 

(c)          Amendment
to Section 2.24. Section 2.24 of the Existing Credit Agreement is hereby amended by inserting a new clause (f) at the
end thereof as follows:

 

(f) Notwithstanding
anything else in this Section 2.24, the only conditions precedent to the availability on the Alta Acquisition Effective Date of
any Incremental Commitments to be entered into and effective as of the Alta Acquisition Effective Date shall be the occurrence
of the Alta Acquisition Effective Date.

 

(d)          Amendment
to Section 4.16. Section 4.16 of the Existing Credit Agreement is hereby amended and restated to read in its entirety as follows:

 

4.16        Use of Proceeds. The proceeds of the Revolving Loans and the Letters of Credit will be used (a) on the Alta Acquisition
Effective Date, to pay, directly or indirectly, the consideration for the Alta Acquisition, for the Debt Repayment, to fund any
original issue discount or upfront fees due in connection with the “flex” provisions in the Alta Arranger Fee Letter,
to pay costs and expenses related to the Alta Transaction, for backstop or replacement letters of credit (or the rolling of letters
of credit) outstanding on the Alta Acquisition Effective Date and for the issuance of Letters of Credit and for other general corporate
purposes and (b) at all other times, for general corporate purposes (including Restricted Payments, Permitted Acquisitions, other
Investments, the Existing Indebtedness Refinancing and paying fees and expenses in connection with the execution and delivery of
this Agreement, and other uses not prohibited by this Agreement).

 

(e)          Amendment
to Section 4.24. Section 4.24 of the Existing Credit Agreement is hereby amended and restated to read in its entirety as follows:

 

4.24       Affected
Financial Institutions. No Loan Party is an Affected Financial Institution.

 

(f)           Addition
of Section 4.25. A new Section 4.25 is hereby added to the Existing Credit Agreement to read in its entirety as follows:

 

4.25       Subject
Agreements. (a) Neither the Borrower nor any other Loan Party has provided, or has taken any steps to provide, any Person other
than the Administrative Agent with “control” (as defined in and provided for in the New York Uniform Commercial Code)
over any Subject Agreement. (b) On and after the occurrence of the Electronic Chattel Paper Control System Implementation Date,
substantially all Subject Agreements entered into after such date constitute Electronic Chattel Paper.

 

    	 	9	 

     

    

 

 

(g)          
Amendment to Section 5.2. Section 5.2 of the Existing Credit Agreement is hereby amended as follows:

 

(i)            
The final sentence is amended and restated to read in its entirety as follows:

 

Each borrowing
of Revolving Loans (excluding any continuation or conversion thereof) by, and issuance of a Letter of Credit on behalf of, the
Borrower hereunder (other than the initial extensions of credit on the Closing Date and other than with respect to a Protective
Advance, and subject to the following sentence), shall constitute a representation and warranty by the Borrower at the time of
the borrowing of such Revolving Loans or the issuance of such Letters of Credit that the conditions contained in this Section 5.2
have been satisfied or waived in accordance with the terms hereof.

 

(ii)            
A new sentence is added at the end thereof to read in its entirety as follows:

 

Notwithstanding
the foregoing provisions of this Section 5.2 or anything else in this Agreement, the only conditions to the borrowing of Revolving
Loans (excluding any continuation or conversion thereof) by, and the issuance of Letters of Credit on behalf of, the Borrower hereunder
in order to finance the consummation of the Alta Transactions shall be the occurrence of the Alta Acquisition Effective Date.

 

(h)           Amendments
to Section 6.10. Section 6.10 of the Existing Credit is hereby amended by replacing each reference to “Term Loan Obligations
Payment Date” with a reference to “Fixed Obligations Payment Date,” by replacing each reference to “Term
Loan Priority Collateral” with a reference to “Fixed Asset Collateral” and by replacing each reference to “Term
Loan Representative” with a reference to “Controlling Fixed Asset Representative.”

 

(i)            Amendments
to Section 6.13. Section 6.13 of the Existing Credit is hereby amended by adding a new clause (d) and a new clause (e) at
the end thereof to read in their respective entireties as follows:

 

(d)       (i)
The provisions of clauses (a) through (c) of this Section 6.13 shall cease to be of further force and effect upon the date that
is one year after the occurrence of the Electronic Chattel Paper Control System Implementation Date (the “ECP Fallaway
Date”). (ii) After the occurrence of the ECP Fallaway Date, from and after the date that is sixty (60) days after the
first date on which the Administrative Agent notifies the Borrower in its Permitted Discretion, continuing until the time at which
the Administrative Agent no longer deems necessary in its Permitted Discretion to hold Subject Agreements that are not in the form
of Electronic Chattel Paper, any Subject Agreements that are not in the form of Electronic Chattel Paper shall be promptly delivered
to either (A) the Specified Administrative Agent Location or (B) to the Administrative Agent (or a designee thereof), and if so
delivered to the Administrative Agent (or a designee thereof), duly indorsed in a manner reasonably satisfactory to the Administrative
Agent.

 

    	 	10	 

     

    

 

(e)       At
all times after the occurrence of the Electronic Chattel Paper Control System Implementation Date, (i) ensure that the Administrative
Agent shall have “control” (as defined in and provided for in the New York Uniform Commercial Code) over all Subject
Agreements in the form of Electronic Chattel Paper pursuant to the system described in the definition of Electronic Chattel Paper
Control System Implementation Date, (ii) maintain customary measures with respect to access to, and security of, all Subject Agreements
in the form of Electronic Chattel Paper and the system described in the definition of Electronic Chattel Paper Control System Implementation
Date and (iii) provide the Administrative Agent with audits and third party security assurances with respect to the foregoing.
It is understood and agreed that provisions and procedures in respect of the foregoing may be evidenced by separate agreement signed
by the Administrative Agent (acting in its Permitted Discretion) and the Borrower.

 

(j)            Addition
of Section 6.14. A new Section 6.14 is hereby added to the Existing Credit Agreement to read in its entirety as follows:

 

Section
6.14   Alta Acquisition Effective Date Deliverables. If the Alta Acquisition Effective Date occurs, (a) use commercially
reasonable efforts to furnish to the Administrative Agent, on behalf of each Lender, within ninety (90) days following the Alta
Acquisition Effective Date (i) an audit and field examination in respect of the Accounts of the Alta Entities, the results of which
are reasonably satisfactory to the Administrative Agent and (ii) a field examination and an appraisal in respect of the Inventory
of the Alta Entities, the results of which are reasonably satisfactory to the Administrative Agent, (b) furnish to the Administrative
Agent, on behalf of each Lender, (i) a field examination and an appraisal in respect of the rental agreements entered into by the
Alta Entities with customers of the Alta Entities and acquired in the Acquisition and (ii) a Borrowing Base Certificate, dated
as of the Alta Amendment Effective Date and giving pro forma effect to the Alta Transactions and the rental agreements of the Alta
Entities to be included in the Borrowing Base as Eligible Rental Agreements, and including the other information required by Section
6.2(g) and otherwise in form and substance reasonably satisfactory to the Administrative Agent and (c) to the extent not required
to be provided as a condition to the occurrence of the Alta Acquisition Effective Date, the items required by Section 6.10(b) with
respect to the Alta Entities within ninety (90) days (notwithstanding any shorter period that may be provided for in Section 6.10(b))
following the Alta Acquisition Effective Date.

 

    	 	11	 

     

    

 

(k)           Addition
of Section 6.15. A new Section 6.15 is hereby added to the Existing Credit Agreement to read in its entirety as follows:

 

Section
6.15   Electronic Chattel Paper Control System Implementation Date.     Use reasonable best efforts to provide such information
and take such actions as may be reasonably requested by the Administrative Agent in order to cause the Electronic Chattel Paper
Control System Implementation Date to occur as soon as reasonably practical after the First Amendment Effective Date.

 

(l)            Amendments
to Section 7.2. Section 7.2 of the Existing Credit Agreement is hereby amended as follows:

 

(i)            
Section 7.2(b) is amended and restated to read in its entirety as follows:

 

(b)            Indebtedness
of the Loan Parties under the Term Loan Credit Agreement (and any Permitted Refinancing Indebtedness in respect thereof) in an
aggregate amount not to exceed (i)(A) if the Alta Acquisition Effective Date occurs, (x) $875,000,000 (shared with Indebtedness
incurred pursuant to clause (v)(i) below) plus (y) any amounts used on the Alta Acquisition Effective Date to fund any OID
or upfront fees required in connection with the “market flex” provision of the Alta Arranger Fee Letter or (B) if the
Alta Acquisition Effective Date does not occur, $200,000,000, plus (ii) the Base Incremental Amount plus (iii) the
Voluntary Prepayment Amount plus (iv) the Maximum Term Loan Incremental Amount;

 

(ii)             Section
7.2(v) is amended and restated to read in its entirety as follows:

 

(v)            if
the Alta Acquisition Effective Date occurs, Indebtedness of the Loan Parties under (i) the Secured Notes and/or the Secured Bridge
Facility (and any Permitted Refinancing Indebtedness in respect of the foregoing), in a combined aggregate principal amount not
to exceed $875,000,000 (shared with Indebtedness incurred pursuant to clause (b)(i)(A)(x) above) and (ii) the Unsecured Notes and/or
the Unsecured Bridge Facility (and any Permitted Refinancing Indebtedness in respect of the foregoing), in a combined aggregate
principal amount not to exceed $450,000,000;

 

(m)        Amendment
to Section 7.3(h). Section 7.3(h) of the Existing Credit Agreement is hereby amended and restated to read in its entirety
as follows:

 

(h)       (i)
Liens on the Collateral created pursuant to the Security Documents (or any ABL Security Documents (as defined in the Intercreditor
Agreement)), (ii) Liens on cash granted in favor of any Lenders and/or the Issuing Lender created as a result of any requirement
to provide cash collateral pursuant to this Agreement and (iii) subject to the Intercreditor Agreement, (A) Liens on the Collateral
created pursuant to the Term Loan Security Documents (or any Term Loan Security Documents (as defined in the Intercreditor Agreement))
and (B) if the Alta Acquisition Effective Date occurs, Liens on the Collateral created pursuant to the Secured Notes Security Documents;

 

    	 	12	 

     

    

 

(n)          
Amendment to Section 7.4. Section 7.4 of the Existing Credit Agreement is hereby as follows:

 

(i)            
The word “and” at the end of clause (c) thereof is deleted.

 

(ii)           
The “.” at the end of clause (d) thereof is replaced with “; and”.

 

(iii)          
A new clause (e) is added at the end thereof to read in its entirety as follows:

 

 

(e)            if
the Alta Acquisition Effective Date occurs, substantially concurrently therewith Funding SPV may be merged or consolidated with
or into the Borrower (provided that the Borrower shall be the continuing or surviving corporation).

 

(o)        
Amendment to Section 7.7(e). Section 7.7(e) of the Existing Credit Agreement is hereby amended and restated to read
in its entirety as follows:

 

(e)            if
the Alta Acquisition Effective Date occurs, Investments necessary to consummate the Alta Transactions;

 

(p)          
Amendment to Section 7.7. Section 7.7 of the Existing Credit Agreement is hereby amended by deleting the word “and”
at the end of clause (z) thereof, replacing the “.” at the end of clause (aa) thereof with “; and” and
adding a new clause (bb) at the end thereof as follows:

 

(bb)         Investments
by the Loan Parties in Funding SPV to pay interest, fees, expenses and any redemption premium payable by Funding SPV in connection
with the Secured Notes or the Unsecured Notes (provided that within forty-five (45) days following the termination of the
Alta Acquisition Agreement without the consummation of the Alta Acquisition, the Borrower shall cause Funding SPV to distribute
all amounts so invested and not applied to the payment of interest, fees, expenses or redemption premium to a Loan Party).

 

(q)          
Addition of Section 7.17. A new Section 7.17 is hereby added to the Existing Credit Agreement to read in its entirety
as follows:

 

                Section
7.17    Subject Agreements. Provide, or take any steps to provide, “control” (as defined in and provided for in
the New York Uniform Commercial Code) over any Subject Agreement to any Person other than the Administrative Agent.

 

    	 	13	 

     

    

 

(r)             Amendment to Section 8. Section 8 of the Existing Credit Agreement is hereby amended by adding the following paragraph at the
end thereof to read in its entirety as follows:

 

“Notwithstanding
the foregoing in this Section 8 or anything else in this Agreement, other than as a result of an Event of Default pursuant to clauses
(a), (f)(i) or (f)(ii) above (in the case of clauses (f)(i) and (f)(ii), with respect to the Borrower) above, no Lender may terminate
its Commitments hereunder until the earlier to occur of (x) the consummation of the Alta Acquisition or (y) the termination of
the Alta Acquisition Agreement without the consummation of the Alta Acquisition.”

 

(s)           
Amendments to Section 10.5(d). Section 10.5(d) of the Existing Credit Agreement is hereby amended as follows:

 

(i)            
The phrase “, the Committed Lead Arrangers” is added immediately following the phrase “to pay, indemnify,
and hold each Lender, the Issuing Lender, the Arrangers”.

 

(ii)           
The phrase “(other than any claims against any Arranger or Agent in its capacity or in fulfilling its roles as an
Arranger or Agent hereunder or any similar role with respect to any Facility)” is replaced with the phrase “(other
than any claims against any Arranger, Committed Lead Arranger or Agent in its capacity or in fulfilling its roles as an Arranger,
Committed Lead Arranger or Agent hereunder or any similar role with respect to any Facility)”.

 

(t)             Amendment
to Section 10.18. Section 10.18 of the Existing Credit Agreement is hereby amended and restated to read in its entirety as
follows:

 

Each Lender hereby
authorizes and directs the Administrative Agent (a) to enter into the Intercreditor Agreement on its behalf, perform the Intercreditor
Agreement on its behalf and take any actions thereunder as determined by the Administrative Agent to be necessary or advisable
to protect the interest of the Lenders, and each Lender agrees to be bound by the terms of the Intercreditor Agreement and (b)
to enter into any other intercreditor agreement reasonably satisfactory to the Administrative Agent on its behalf with respect
to Indebtedness permitted to be incurred and secured under this Agreement, perform such intercreditor agreement on its behalf and
take any actions thereunder as determined by the Administrative Agent to be necessary or advisable to protect the interests of
the Lenders, and each Lender agrees to be bound by the terms of such intercreditor agreement. Each Lender acknowledges that the
Intercreditor Agreement governs, among other things, Lien priorities and rights of the Lenders and the Fixed Asset Secured Parties
with respect to the Collateral, including the Fixed Asset Collateral.

 

(u)            Amendment
to Section 10.19. Section 10.19 of the Existing Credit Agreement is hereby amended and restated to read in its entirety as
follows:

 

    	 	14	 

     

    

 

10.19        Acknowledgement
and Consent to Bail-In of Affected Financial Institutions.

 

Notwithstanding
anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each
party hereto acknowledges that any liability of any Affected Financial Institution arising under any Loan Document may be subject
to the Write-Down and Conversion Powers of the applicable Resolution Authority and agrees and consents to, and acknowledges and
agrees to be bound by:

 

(a)          the
application of any Write-Down and Conversion Powers by the applicable Resolution Authority to any such liabilities arising hereunder
which may be payable to it by any party hereto that is an Affected Financial Institution; and

 

(b)          the
effects of any Bail-In Action on any such liability, including, if applicable:

 

(i)       a
reduction in full or in part or cancellation of any such liability;

 

(ii)      a
conversion of all, or a portion of, such liability into shares or other instruments of ownership in such Affected Financial Institution,
its parent entity, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other
instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under this Agreement or
any other Loan Document; or

 

(iii)     the
variation of the terms of such liability in connection with the exercise of the Write-Down and Conversion Powers of the applicable
Resolution Authority.

 

(v)        
Addition of Exhibits M and N. A new Exhibit M and a new Exhibit N are each added to the Existing Credit Agreement
in appropriate alphabetical order to read in their respective entireties as set forth on Exhibit M and Exhibit N attached to this
First Amendment.

 

SECTION
3:      Rental Agreements of the Alta Entities. The definition of “Eligible
Rental Agreements” provides that prior to any rental agreement that is acquired in a Material Transaction becoming an “Eligible
Rental Agreement”, the Administrative Agent shall have received (unless the Administrative Agent otherwise agrees in its
Permitted Discretion) a field examination and an appraisal in respect of such rental agreement, the results of which are reasonably
satisfactory to the Administrative Agent. Pursuant to such definition, if the Alta Acquisition Effective Date occurs, the Administrative
Agent hereby agrees in its Permitted Discretion that the rental agreements entered into by the Alta Entities with customers of
the Alta Entities and acquired in the Acquisition may become “Eligible Rental Agreements” for a period of sixty (60)
days after the occurrence of the Alta Acquisition Effective Date without the receipt by the Administrative Agent of a field examination,
unless the Administrative Agent agrees to extend such period in its Permitted Discretion.

 

    	 	15	 

     

    

 

SECTION
4:         Representations and Warranties. The Borrower and each Guarantor hereby represents
and warrants to the Administrative Agent and the Lenders that (a) the representations and warranties set forth in each Loan Document
are true and correct in all material respects (or, if qualified by materiality, in all respects) on and as of the date hereof,
except to the extent expressly made as of an earlier date, in which case they are true and correct as of such earlier date and
(b) no Default or Event of Default has occurred and is continuing as of the date hereof.

 

SECTION
5:         Conditions Precedent. This Amendment shall be effective on
the date (such date, “First Amendment Effective Date”) when each of the following conditions precedent is satisfied
(or waived in accordance with Section 10.1 of the Existing Credit Agreement):

 

(a)            First Amendment. The Administrative Agent shall have received duly executed counterparts to this First Amendment
from the Borrower, each Guarantor and Lenders constituting the Required Lenders.

 

(b)           Representations and Warranties. At the time of and immediately after giving effect to this First Amendment, (a) no
Default or Event of Default shall have occurred and be continuing and (b) the representations and warranties contained in Section
4 shall be true and correct.

 

(c)           Payment of Fees and Expenses. The Administrative Agent shall have received all fees due and payable on or prior to
the First Amendment Effective Date and reimbursement or payment of all out-of-pocket expenses required to be reimbursed or paid
by the Borrower hereunder, including all reasonable and documented out-of-pocket costs and expenses of counsel for the Administrative
Agent.

 

Each party hereto hereby
authorizes and directs the Administrative Agent to declare this First Amendment to be effective (and the First Amendment Effective
Date shall occur) when it has received documents confirming or certifying, to the reasonable satisfaction of the Administrative
Agent, compliance with the conditions set forth in this Section 5. Such declaration shall be final, conclusive and binding
upon all parties to the Credit Agreement for all purposes.

 

SECTION
6:         No Waiver. Nothing contained in this First Amendment
shall be construed as a waiver by Administrative Agent or any Lender of any covenant or provision of the Existing Credit Agreement,
the other Loan Documents, this First Amendment, or of any other contract or instrument between any Loan Party and the Administrative
Agent and any Lender, and the failure of the Administrative Agent or Lenders at any time or times hereafter to require strict
performance by any Loan Party of any provision thereof shall not waive, affect or diminish any rights of the Administrative Agent
or Lenders to thereafter demand strict compliance therewith. The Administrative Agent and Lenders hereby reserve all rights granted
under the Credit Agreement, the other Loan Documents, this First Amendment and any other contract or instrument between any Loan
Party and the Administrative Agent or any Lender.

 

    	 	16	 

     

    

 

SECTION
7:         Ratification; Reference to and Effect on Loan Documents.

 

(a)            Ratification. Except as specifically amended above, the Existing Credit Agreement and the other Loan Documents shall
remain in full force and effect. Notwithstanding anything contained herein, the terms of this First Amendment are not intended
to and do not effect a novation of the Existing Credit Agreement or any other Loan Document. Each of the Loan Parties hereby acknowledges
and agrees to the terms of this First Amendment and ratifies and reaffirms each of the terms and conditions of the Loan Documents
to which it is a party and all of its obligations thereunder. Each Loan Party confirms that all of its obligations under the Loan
Documents (as amended by this First Amendment) are in full force and effect and are performable in accordance with their respective
terms without setoff, defense, counter-claim or claims in recoupment. Each of the Loan Parties hereby agrees that all liens and
security interests securing payment of the Obligations under the Credit Agreement and each of the other Loan Documents are hereby
collectively renewed, ratified and brought forward as security for the payment and performance of the Obligations.

 

(b)           References. Upon the First Amendment Effective Date, each of the Loan Documents, including the Credit Agreement,
and any and all other agreements, documents or instruments now or hereafter executed and delivered pursuant to the terms hereof
or pursuant to the terms of the Existing Credit Agreement are hereby amended so that any reference in such Loan Documents to the
Existing Credit Agreement shall mean a reference to the Credit Agreement.

 

SECTION
8: Miscellaneous.

 

(a)           Successors and Assigns. This First Amendment shall be binding on and shall inure to the benefit of Loan Parties,
the Administrative Agent, the Lenders and their respective successors and assigns permitted by the terms of the Credit Agreement.

 

(b)           Integration;
Loan Document. This First Amendment and the other Loan Documents
represent the entire agreement of the Borrower, the Administrative Agent and the Lenders with respect to the subject matter hereof
and thereof, and there are no promises, undertakings, representations or warranties by the Administrative Agent or any Lender relative
to the subject matter hereof not expressly set forth or referred to herein or in the other Loan Documents. This First Amendment
is a Loan Document.

 

(c)           Severability. Any provision of this First Amendment that is prohibited or unenforceable in any jurisdiction shall,
as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining
provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable
such provision in any other jurisdiction.

 

(d)           Payment of Expenses. Pursuant to Section 10.05 of the Credit Agreement, the Borrower agrees to pay all reasonable
and documented out-of-pocket costs and expenses incurred by the Administrative Agent in connection with the development, preparation
and execution of this First Amendment and any other documents prepared in connection herewith, and the consummation and administration
of the transactions contemplated hereby, including the reasonable and documented fees, disbursements and other charges of one primary
counsel to the Administrative Agent.

 

    	 	17	 

     

    

 

(e)           
Counterparts. This First Amendment may be executed by one or more of the parties hereto in any number of separate
counterparts, and all of such counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of
an executed counterpart of a signature page of this First Amendment, and/or any document, amendment, approval, consent, information,
notice, certificate, request, statement, disclosure or authorization related to this First Amendment and/or the transactions contemplated
hereby and/or thereby (each an “Ancillary Document”) that is an electronic sound, symbol, or process attached
to, or associated with, a contract or other record and adopted by a Person with the intent to sign, authenticate or accept such
contract or record (an “Electronic Signature”) transmitted by telecopy, emailed pdf or any other electronic
means that reproduces an image of an actual executed signature page shall be effective as delivery of a manually executed counterpart
of this First Amendment or such Ancillary Document, as applicable. The words “execution,” “signed,” “signature,”
 “delivery,” and words of like import in or relating to this First Amendment and/or any Ancillary Document shall be
deemed to include Electronic Signatures, deliveries or the keeping of records in any electronic form (including deliveries by telecopy,
emailed pdf or any other electronic means that reproduces an image of an actual executed signature page), each of which shall be
of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of
a paper-based recordkeeping system, as the case may be.

 

(f)            GOVERNING LAW. THIS FIRST AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE
PARTIES UNDER THIS FIRST AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE
OF NEW YORK.

 

(g)           Incorporation of Credit Agreement Provisions. The provisions contained in Section 10.12 (Submission to Jurisdiction;
Waivers) and Section 10.16 (WAIVERS OF JURY TRIAL) of the Credit Agreement are hereby incorporated by reference, mutatis
mutandis.

 

[Remainder of Page
Intentionally Left Blank]

 

    	 	18	 

     

    

 

IN WITNESS WHEREOF,
this First Amendment has been executed on the date first written above, to be effective upon satisfaction of the conditions set
forth herein.

 

	 	BORROWER:
	 	 	 
	 	RENT-A-CENTER, Inc.
	 	 	 
	 	By:
	/s/ Maureen B. Short

	 	 	Name: Maureen B. Short
	 	 	Title: Executive Vice President – Chief Financial Officer
	 	 	 
	 	GUARANTORS:
	 	 	 
	 	BRAVEHEART ACQUISITION, LLC
	 	 	 
	 	By:
	/s/ Maureen B. Short

	 	 	Name: Maureen B. Short
	 	 	Title: Treasurer
	 	 	 
	 	GET IT NOW, LLC
	 	 	 
	 	By:
	/s/ Maureen B. Short

	 	 	Name: Maureen B. Short
	 	 	Title: Treasurer
	 	 	 
	 	RAC ACCEPTANCE EAST, LLC
	 	 	 
	 	By:	
/s/ Maureen B. Short

	 	 	Name: Maureen B. Short
	 	 	Title: Treasurer
	 	 	 
	 	RAC MEXICO HOLDINGS I, LLC
	 	 	 
	 	By:
	/s/ Maureen B. Short

	 	 	Name: Maureen B. Short
	 	 	Title: Treasurer

 

[Signature
Page to First Amendment to Rent-A-Center ABL Credit Agreement]

 

     

     

    

 

	 	RAC MEXICO HOLDINGS II, LLC
	 	 	 
	 	
        By:
	/s/ Maureen B. Short

	 	 	Name: Maureen B. Short
	 	 	Title: Treasurer
	 	 	 
	 	RAC NATIONAL PRODUCT SERVICE, LLC
	 	 	 
	 	
        By:
	/s/ Maureen B. Short

	 	 	Name: Maureen B. Short
	 	 	Title: Treasurer
	 	 	 
	 	RENT-A-CENTER EAST, INC.
	 	 	 
	 	
        By:
	/s/ Maureen B. Short

	 	 	Name: Maureen B. Short
	 	 	Title: Treasurer
	 	 	 
	 	RENT-A-CENTER FRANCHISING INTERNATIONAL, INC.
	 	 	 
	 	
        By:
	/s/ Maureen B. Short

	 	 	Name: Maureen B. Short
	 	 	Title: Treasurer
	 	 	 
	 	RENT-A-CENTER INTERNATIONAL, INC.
	 	 	 
	 	
        By:
	/s/ Maureen B. Short

	 	 	Name: Maureen B. Short
	 	 	Title: Treasurer
	 	 	 
	 	RENT-A-CENTER TEXAS, L.P.
	 	 	 
	 	
        By:
	/s/ Maureen B. Short

	 	 	Name: Maureen B. Short
	 	 	Title: Executive Vice President – Chief Financial Officer

 

[Signature
Page to First Amendment to Rent-A-Center ABL Credit Agreement]

 

     

     

    

 

	 	RENT-A-CENTER TEXAS, L.L.C.
	 	 	 
	 	
        By:
	/s/ Maureen B. Short

	 	 	Name: Maureen B. Short
	 	 	Title: Treasurer
	 	 	 
	 	RENT-A-CENTER WEST, INC.
	 	 	 
	 	
        By:
	/s/ Maureen B. Short

	 	 	Name: Maureen B. Short
	 	 	Title: Treasurer

 

[Signature
Page to First Amendment to Rent-A-Center ABL Credit Agreement]

 

     

     

    

 

	 	ADMINISTRATIVE AGENT AND LENDER:
	 	 	 
	 	JPMORGAN CHASE BANK, N.A.,
	 	as Administrative Agent and Lender
	 	 	 
	 
	By:	/s/
                                         Alexander Vardaman

	 	 	Name: Alexander Vardaman
		 	Title: Authorized Officer

 

[Signature
Page to First Amendment to Rent-A-Center ABL Credit Agreement]

 

     

     

    

 

	
         
	LENDER:

	 	 
	 	Citizens Bank, N.A.
	 	as Lender
	 	 
		By:	/s/ Richard Norberg
	 	 	Name: Richard Norberg
	 	 	Title: Vice President

 

[Signature
Page to First Amendment to Rent-A-Center ABL Credit Agreement]

 

     

     

    

 

	
         
	LENDER:

	 	 
	 	HSBC BANK USA, NATIONAL ASSOCIATION,
	 	as Lender
	 	 
		By:	/s/ Allison Donahue
	 	 	Name: Allison Donahue
	 	 	Title: Vice President

 

[Signature
Page to First Amendment to Rent-A-Center ABL Credit Agreement]

 

     

     

    

 

	
         
	LENDER:

	 	 
	 	BBVA USA,
	 	as Lender
	 	 
		By:	/s/ Ramon Garcia
	 	 	Name: Ramon Garcia
	 	 	Title: Director

 

[Signature
Page to First Amendment to Rent-A-Center ABL Credit Agreement]

 

     

     

    

 

	
         
	LENDER:

	 	 
	 	Truist Bank (formerly known as SunTrust Bank),
	 	as Lender
	 	 
		By:	/s/ Sheryl Kerley
	 	 	Name: Sheryl Squires Kerley
	 	 	Title: Director

 

[Signature
Page to First Amendment to Rent-A-Center ABL Credit Agreement]

 

     

     

    

 

	
         
	LENDER:

	 	 
	 	INTRUST Bank, N.A.,
	 	as Lender
	 	 
		By:	/s/ Marlon E. King
	 	 	Name: Marlon E. King
	 	 	Title: Managing Director

 

[Signature
Page to First Amendment to Rent-A-Center ABL Credit Agreement]

 

     

     

    

 

	
         
	LENDER:

	 	 
	 	Woodforest National Bank,
	 	as Lender
	 	 
		By:	/s/ Ryan Stuart
	 	 	Name: Ryan Stuart
	 	 	Title: Senior Vice President

 

[Signature
Page to First Amendment to Rent-A-Center ABL Credit Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00320-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00320-of-00352.parquet"}]]