Document:

Exhibit 10.37

 Exhibit 10.37 
  
  
  
 AMENDED AND RESTATED PURCHASE MONEY LOAN GUARANTEE AND 
 COLLATERAL AGREEMENT 
 dated as of 
 April 30, 2009, 
 among 
 SIRIUS XM RADIO INC., 
 ITS SUBSIDIARIES IDENTIFIED HEREIN 
 and 
 LIBERTY MEDIA CORPORATION, 

as Collateral Agent 
  
  
  

 TABLE OF CONTENTS 
  

			
	 ARTICLE I Definitions
	  	1
		
	 SECTION 1.01. Credit Agreement
	  	1
	 SECTION 1.02. Other Defined Terms
	  	2
		
	 ARTICLE II Guarantee
	  	3
		
	 SECTION 2.01. Guarantee
	  	3
	 SECTION 2.02. Guarantee of Payment
	  	4
	 SECTION 2.03. No Limitations
	  	5
	 SECTION 2.04. Reinstatement
	  	6
	 SECTION 2.05. Agreement to Pay; Subrogation
	  	6
	 SECTION 2.06. Information
	  	6
		
	 ARTICLE III Security Interests in Personal Property
	  	6
		
	 SECTION 3.01. Security Interest
	  	6
	 SECTION 3.02. Representations and Warranties
	  	7
	 SECTION 3.03. Covenants
	  	8
		
	 ARTICLE IV Remedies
	  	11
		
	 SECTION 4.01. Remedies Upon Default
	  	11
	 SECTION 4.02. Application of Proceeds
	  	12
	 SECTION 4.03. Grant of License to Use Intellectual Property
	  	13
		
	 ARTICLE V Indemnity, Subrogation and Subordination
	  	13
		
	 SECTION 5.01. Indemnity and Subrogation
	  	13
	 SECTION 5.02. Contribution and Subrogation
	  	14
	 SECTION 5.03. Subordination
	  	14
		
	 ARTICLE VI Miscellaneous
	  	14
		
	 SECTION 6.01. Notices
	  	14
	 SECTION 6.02. Waivers; Amendment
	  	15
	 SECTION 6.03. Collateral Agent’s Fees and Expenses; Indemnification
	  	15
	 SECTION 6.04. Successors and Assigns
	  	16
	 SECTION 6.05. Survival of Agreement
	  	16
	 SECTION 6.06. Counterparts; Effectiveness; Several Agreement
	  	16
	 SECTION 6.07. Severability
	  	17
	 SECTION 6.08. Right of Set-Off
	  	17
	 SECTION 6.09. Governing Law; Jurisdiction; Consent to Service of Process
	  	17
	 SECTION 6.10. WAIVER OF JURY TRIAL
	  	18

			
	 SECTION 6.11. Headings
	  	18
	 SECTION 6.12. Security Interest Absolute
	  	18
	 SECTION 6.13. Termination or Release
	  	19
	 SECTION 6.14. Additional Subsidiaries
	  	19
	 SECTION 6.15. Collateral Agent Appointed Attorney-in-Fact
	  	19
	 SECTION 6.16. Specific Performance
	  	20
	 SECTION 6.17. Amendment and Restatement of Existing Agreement
	  	20

 Schedules 
  

			
	Schedule I	  	Subsidiary Guarantors
	Schedule II	  	Article 9 Collateral

 Exhibits 
  

			
	Exhibit I	  	Form of Supplement

 AMENDED AND RESTATED PURCHASE MONEY LOAN GUARANTEE AND COLLATERAL AGREEMENT dated as of April 30,
2009 (this “Agreement”) among SIRIUS XM RADIO INC., a Delaware corporation (the “Borrower”), the subsidiaries of the Borrower from time to time party hereto and LIBERTY MEDIA CORPORATION
(“Liberty”), as Collateral Agent. 
 PREAMBLE 
 WHEREAS, pursuant to that certain Term Credit Agreement dated as of February 17, 2009 (as amended, supplemented or otherwise modified from time to
time, the “Credit Agreement”), among the Borrower, the Lenders from time to time party thereto and Liberty, as Administrative Agent and Collateral Agent, the Lenders have agreed to extend credit to the Borrower, subject to the terms
and conditions set forth in the Credit Agreement; 
 WHEREAS, the parties hereto entered into that certain Purchase Money Loan Guarantee and
Collateral Agreement dated as of February 17, 2009 (the “Existing Agreement”); 
 WHEREAS, the Borrower desires to draw
the initial Purchase Money Loan pursuant to Section 2.01 of the Credit Agreement; 
 WHEREAS, the Borrower intends that the Purchase
Money Loans be secured by the collateral set forth on Schedule II hereto; 
 WHEREAS, it is a condition precedent to the obligation of
the Purchase Money Lenders to make Purchase Money Loans that the Borrower shall have delivered such documents and instruments as may be reasonably requested by the Collateral Agent to be delivered to create and perfect the Liens on the Collateral
securing such Purchase Money Loans; and 
 WHEREAS, the Subsidiary Guarantors are Affiliates of the Borrower, will derive substantial
benefits from the extension of Purchase Money Loans to the Borrower pursuant to the Credit Agreement and are willing to execute and deliver this Agreement in order to induce the Purchase Money Lenders to extend such Purchase Money Loans; 

NOW THEREFORE, the parties hereto agree as follows: 
 ARTICLE I 
 Definitions 
 SECTION 1.01. Credit Agreement. (a) Capitalized terms used in this Agreement (including the preamble hereto) and not otherwise defined herein have the meanings specified in the Credit Agreement. All terms used
in this Agreement and not defined herein or in the Credit Agreement have the meanings specified in Article 9 of the New York UCC (as defined herein) or, when the 
 context requires, the Uniform Commercial Code as in effect from time to time in any other applicable jurisdiction. 
  

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 (b) The rules of construction specified in Section 1.02 of the Credit Agreement also apply to this
Agreement. 
 SECTION 1.02. Other Defined Terms. As used in this Agreement, the following terms have the meanings specified below:

 “Article 9 Collateral” has the meaning assigned to such term in Section 3.01. 
 “Borrower” has the meaning assigned to such term in the preliminary statement of this Agreement. 
 “Claiming Party” has the meaning assigned to such term in Section 5.02. 
 “Collateral” means the Article 9 Collateral. 
 “Contributing Party” has the meaning assigned to such term in Section 5.02. 
 “Credit Agreement” has the meaning assigned to such term in the preliminary statement of this Agreement. 
 “Intellectual Property” means all intellectual property of every kind and nature now owned or hereafter acquired by any Loan Party, including inventions, designs, patents, copyrights, licenses, trademarks, trade secrets,
confidential or proprietary technical and business information, know-how, show-how or other data or information, software and databases and all embodiments or fixations thereof and related documentation, registrations and franchises, and all
additions, improvements and accessions to, and books and records describing or used in connection with, any of the foregoing. 
 “Liberty” has the meaning assigned to such term in the preliminary statement of this Agreement. 
 “Loan
Parties” means the Borrower and the Subsidiary Guarantors. 
 “New York UCC” means the Uniform Commercial Code as
from time to time in effect in the State of New York. 
 “Purchase Money Lenders” means the Lenders having Purchase Money
Loans or having Purchase Money Loan Commitments. 
 “Purchase Money Obligations” means (a) the due and punctual payment
by the Borrower of (i) the principal of and premium, if any, and interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in
such proceeding) on the Purchase Money Loans, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, and (ii) all other monetary 

  

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obligations of the Borrower to any of the Purchase Money Lenders under the Credit Agreement or any other Loan Document, including obligations to pay fees,
expenses and indemnities, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether
allowed or allowable in such proceeding), and (b) the due and punctual payment or performance of all other obligations of any Loan Party to any Purchase Money Lender under or pursuant to the Credit Agreement or any other Loan Document.

 “Purchase Money Secured Parties” means (a) the Purchase Money Lenders, (b) the Administrative Agent,
(c) the Collateral Agent, (d) the beneficiaries of each indemnification obligation undertaken by any Loan Party under any Loan Document in respect of the Purchase Money Loans, (e) each other Person to whom any of the Purchase Money
Obligations is owed and (f) the permitted successors and assigns of each of the foregoing. 
 “Satellite Codes” has the
meaning assigned to such term in Section 3.03(f). 
 “Satellite Vendor” means, with respect to any satellite, the prime
contractor and manufacturer of such satellite. 
 “Security Interest” has the meaning assigned to such term in
Section 3.01. 
 “Subsidiary Guarantors” means (a) the Subsidiaries identified on Schedule I and
(b) each other Subsidiary that becomes a party to this Agreement as a Subsidiary Guarantor after the Effective Date. 
 “Term
Loan Obligations” means all Obligations other than the Purchase Money Obligations. 
 ARTICLE II 
 Guarantee 
 SECTION 2.01.
Guarantee. (a) Each Subsidiary Guarantor unconditionally guarantees, jointly with the other Subsidiary Guarantors and severally, as a primary obligor and not merely as a surety, the due and punctual payment of the Purchase Money
Obligations. Each Subsidiary Guarantor further agrees that the Purchase Money Obligations may be extended, increased or renewed, in whole or in part, or amended or modified without notice to or further assent from it, and that it will remain bound
upon its guarantee notwithstanding any extension, increase or renewal, or amendment or modification, of any Purchase Money Obligation, and agrees to pay any and all expenses (including, without limitation, fees and expenses of counsel) incurred by
any Agent or any Purchase Money Lender in enforcing any rights under this guarantee or any other Loan Document. Each Subsidiary Guarantor does hereby (i) waive notice of acceptance of this guarantee; (ii) waive any notices or demands that
are not required by this Agreement or the Credit Agreement, as well as any other notices or demands that 

  

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may otherwise be imposed by law; (iii) waive any and all rights that such Subsidiary Guarantor may have under any antideficiency statute or similar
protections; (iv) agree not to assert any defense, right of set off or other claim which such Subsidiary Guarantor may have against the Borrower; (v) waive presentment, demand for performance, notice of nonperformance or dishonor, protest
and notice of protest, promptness, diligence in collection and any and all formalities which otherwise might be legally required to charge such Subsidiary Guarantor with liability; and (vi) waive and agree not to assert or take advantage of
assertion or claim that the automatic stay provided by 11 U.S. Code §362 (arising upon the voluntary or involuntary bankruptcy proceeding of the Borrower) or any other stay or delay provided under any debtor relief law (whether statutory,
common law, case law or otherwise) of any jurisdiction whatsoever, now or hereafter in effect, which may be or become applicable to the Borrower, shall operate or be interpreted to stay, interdict, condition, reduce or inhibit the ability of the
Collateral Agent to enforce any of its rights which the Collateral Agent may have against such Subsidiary Guarantor pursuant to this Agreement. 
 (b) Without limiting the generality of the foregoing, each Subsidiary Guarantor’s liability shall be extended to all amounts that constitute part of the Purchase Money Obligations and would be owed by any other Loan Party to any Agent
or Purchase Money Lender under or in respect of the Loan Documents but for the fact that they are unenforceable or not allowable due to the existence of a bankruptcy, reorganization or similar proceeding involving such other Loan Party. 

(c) Each Subsidiary Guarantor, and by its acceptance of this guarantee, each Agent and each Purchase Money Lender, hereby confirms that it is the
intention of all such Persons that this guarantee and the Purchase Money Obligations of each Subsidiary Guarantor hereunder not constitute a fraudulent transfer or conveyance for purposes of Title 11 U.S. Code, the Uniform Fraudulent Conveyance Act,
the Uniform Fraudulent Transfer Act or any similar foreign, federal or state law to the extent applicable to this guarantee and the Purchase Money Obligations of each Subsidiary Guarantor hereunder. To effectuate the foregoing intention, the
Collateral Agent, on behalf of the Purchase Money Lenders, and the Subsidiary Guarantors hereby irrevocably agree that the Purchase Money Obligations of each Subsidiary Guarantor under this guarantee at any time shall be limited to the maximum
amount as will result in the Purchase Money Obligations of such Subsidiary Guarantor under this guarantee not constituting a fraudulent conveyance or transfer. 
 SECTION 2.02. Guarantee of Payment. Each Subsidiary Guarantor further agrees that its guarantee hereunder constitutes a guarantee of payment when due and not of collection, and waives any right to require that
any resort be had by the Collateral Agent or any other Secured Party to any security held for the payment of the Purchase Money Obligations or to any balance of any deposit account or credit on the books of the Collateral Agent or any other Secured
Party in favor of the Borrower or any other Person. 
  

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 SECTION 2.03. No Limitations. (a) Except for termination of a Subsidiary Guarantor’s
obligations hereunder as expressly provided in Section 6.13, the obligations of each Subsidiary Guarantor hereunder shall not be subject to any reduction, limitation, impairment or termination for any reason, including any claim of waiver,
release, surrender, alteration or compromise of any of the Purchase Money Obligations, and shall not be subject to any defense or set-off, counterclaim, recoupment or termination whatsoever by reason of the invalidity, illegality or unenforceability
of the Purchase Money Obligations or otherwise. Without limiting the generality of the foregoing, the obligations of each Subsidiary Guarantor hereunder shall not be discharged or impaired or otherwise affected by (i) the failure of the
Collateral Agent or any other Purchase Money Secured Party to assert any claim or demand or to enforce any right or remedy under the provisions of any Loan Document or otherwise; (ii) any rescission, waiver, amendment or modification of, or any
release from any of the terms or provisions of, any Loan Document or any other agreement, including with respect to any other Subsidiary Guarantor under this Agreement; (iii) the release of, or any impairment of or failure to perfect any Lien
on or security interest in, any security held by the Collateral Agent or any other Purchase Money Secured Party for the Purchase Money Obligations or any of them; (iv) any default, failure or delay, willful or otherwise, in the performance of
the Purchase Money Obligations; or (v) any other act or omission that may or might in any manner or to any extent vary the risk of any Subsidiary Guarantor or otherwise operate as a discharge of any Subsidiary Guarantor as a matter of law or
equity (other than the indefeasible payment in full in cash of all the Purchase Money Obligations). Each Subsidiary Guarantor expressly authorizes the Secured Parties to take and hold security for the payment and performance of the Purchase Money
Obligations, to exchange, waive or release any or all such security (with or without consideration), to enforce or apply such security and direct the order and manner of any sale thereof in their sole discretion or to release or substitute any one
or more other Subsidiary Guarantors or obligors upon or in respect of the Purchase Money Obligations, all without affecting the obligations of any Subsidiary Guarantor hereunder. 
 (b) To the fullest extent permitted by applicable law, each Subsidiary Guarantor waives any defense based on or arising out of any defense of the
Borrower or any other Subsidiary Guarantor or the unenforceability of the Purchase Money Obligations or any part thereof from any cause, or the cessation from any cause of the liability of the Borrower or any other Subsidiary Guarantor, other than
the indefeasible payment in full in cash of all the Purchase Money Obligations. The Collateral Agent and the other Secured Parties may, at their election, foreclose on any security held by one or more of them by one or more judicial or nonjudicial
sales, accept an assignment of any such security in lieu of foreclosure, compromise or adjust any part of the Purchase Money Obligations, make any other accommodation with the Borrower or any Subsidiary Guarantor or exercise any other right or
remedy available to them against the Borrower or any Subsidiary Guarantor, without affecting or impairing in any way the liability of any Subsidiary Guarantor hereunder except to the extent the Purchase Money Obligations have been fully and
indefeasibly paid in full in cash. To the fullest extent permitted by applicable law, each Subsidiary Guarantor waives any defense arising out of any such election even though such election operates, pursuant to applicable law, to impair or to
extinguish any right of reimbursement or subrogation or other right or remedy of such Subsidiary Guarantor against the Borrower or any other Subsidiary Guarantor, as the case may be, or any security. Each Subsidiary Guarantor acknowledges that it
will receive 

  

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substantial direct benefits from the financing arrangements contemplated by the Loan Documents and that the waivers set forth in this Section 2.03 are
knowingly made in contemplation of such benefits. 
 SECTION 2.04. Reinstatement. Each Subsidiary Guarantor agrees that its guarantee
hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Purchase Money Obligation is rescinded or must otherwise be restored by the Collateral Agent or any other Purchase
Money Secured Party upon the bankruptcy or reorganization of the Borrower, any Subsidiary Guarantor or otherwise. 
 SECTION 2.05.
Agreement to Pay; Subrogation. In furtherance of the foregoing and not in limitation of any other right that the Collateral Agent or any other Purchase Money Secured Party has at law or in equity against any Subsidiary Guarantor by virtue
hereof, upon the failure of the Borrower or any Subsidiary Guarantor to pay any Purchase Money Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice of prepayment or otherwise, each Subsidiary Guarantor
hereby promises to and will forthwith pay, or cause to be paid, to the Collateral Agent for distribution to the applicable Purchase Money Secured Parties in cash the amount of such unpaid Purchase Money Obligation. Upon payment by any Subsidiary
Guarantor of any sums to the Collateral Agent as provided above, all rights of such Subsidiary Guarantor against the Borrower or any other Subsidiary Guarantor arising as a result thereof by way of right of subrogation, contribution, reimbursement,
indemnity or otherwise shall in all respects be subject to Article VI. 
 SECTION 2.06. Information. Each Subsidiary Guarantor
assumes all responsibility for being and keeping itself informed of the Borrower’s and each other Subsidiary Guarantor’s financial condition and assets, and of all other circumstances bearing upon the risk of nonpayment of the Purchase
Money Obligations and the nature, scope and extent of the risks that such Subsidiary Guarantor assumes and incurs hereunder, and agrees that none of the Collateral Agent or the other Purchase Money Secured Parties will have any duty to advise such
Subsidiary Guarantor of information known to it or any of them regarding such circumstances or risks. 
 ARTICLE III  
 Security Interests in Personal Property 
 SECTION 3.01. Security Interest. (a) As security for the payment in full of the Purchase Money Obligations, each Loan Party hereby pledges to the Collateral Agent, its permitted successors and assigns, for the benefit of the Purchase
Money Secured Parties, and hereby grants to the Collateral Agent, its successors and assigns, for the benefit of the Purchase Money Secured Parties, a security interest (the “Security Interest”) in all right, title or interest in or
to any and all of the assets and properties of such Loan Party described on Schedule II attached hereto and made a part hereof, as such Schedule II may be supplemented or modified from time to time to describe additional assets and properties of
such Loan Party granted to secure such Loan Party’s Purchase 

  

 6 

 
Money Obligations (collectively, the “Article 9 Collateral”), together with all books and records pertaining to the Article 9
Collateral, and, to the extent not otherwise included, all Proceeds and products of the Article 9 Collateral and all assets and property affixed or appurtenant thereto. 
 (b) Each Loan Party hereby irrevocably authorizes the Collateral Agent at any time and from time to time to file in the proper jurisdictions any initial
financing statements (including, if applicable, fixture filings) with respect to the Article 9 Collateral or any part thereof and amendments thereto and continuations thereof that contain the information required by Article 9 of the Uniform
Commercial Code of each applicable jurisdiction for the filing of any financing statement or amendment, including (i) statements as to whether such Loan Party is an organization, the type of organization and any organizational identification
number issued to such Loan Party and (ii) in the case of a financing statement filed as a fixture filing, a sufficient description of the real property to which such Article 9 Collateral relates. Each Loan Party agrees to provide such
information to the Collateral Agent promptly upon request. 
 Each Loan Party also ratifies its authorization for the Collateral Agent to
file in any proper jurisdiction any initial financing statements or amendments thereto if filed prior to the date hereof. 
 (c) The Security
Interest is granted as security only and shall not subject the Collateral Agent or any other Purchase Money Secured Party to, or in any way alter or modify, any obligation or liability of any Loan Party with respect to or arising out of the
Article 9 Collateral (other than the duties expressly created hereunder). 
 SECTION 3.02. Representations and Warranties. The
Loan Parties jointly and severally represent and warrant to the Collateral Agent and the other Purchase Money Secured Parties that: 
 (a)
Each Loan Party has good and valid rights in and title to the Article 9 Collateral with respect to which it has purported to grant a Security Interest hereunder and has full power and authority to grant to the Collateral Agent, for the benefit
of the Purchase Money Secured Parties, the Security Interest in such Article 9 Collateral pursuant hereto and to execute, deliver and perform its obligations in accordance with the terms of this Agreement, without the consent or approval of any
other Person other than any consent or approval that has been obtained. 
 (b) The Perfection Certificate has been duly prepared, completed
and executed and the information set forth therein, including the exact legal name and place of organization of each Loan Party, is correct and complete as of the Effective Date. The Uniform Commercial Code financing statements (including fixture
filings, as applicable) or other appropriate filings, recordings or registrations prepared by the Collateral Agent based upon the information provided to the Collateral Agent in the Perfection Certificate for filing in each governmental, municipal
or other office specified in Schedule 6 to the Perfection Certificate (or specified by notice from the Borrower to the Collateral Agent after the Effective Date in the case of filings, recordings or registrations required by 

  

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Section 5.12 of the Credit Agreement), are all the filings, recordings and registrations that are necessary to publish notice of, perfect and protect
the validity of and to establish a legal, valid and perfected security interest in favor of the Collateral Agent (for the benefit of the Purchase Money Secured Parties) in respect of all Article 9 Collateral in which the Security Interest may
be perfected by filing, recording or registration in the United States (or any political subdivision thereof) and its territories and possessions, and no further or subsequent filing, refiling, recording, rerecording, registration or reregistration
is necessary in any such jurisdiction, except as provided under applicable law with respect to the filing of continuation statements. 
 (c)
The Article 9 Collateral is owned by the Loan Parties free and clear of any Lien, except for Liens created under the Loan Documents and the Permitted Liens. None of the Loan Parties has filed or consented to the filing of (i) any financing
statement or analogous document under the Uniform Commercial Code or any other applicable laws covering any Article 9 Collateral or (ii) any assignment in which any Loan Party assigns any Article 9 Collateral or any security agreement
or similar instrument covering any Article 9 Collateral with any foreign governmental, municipal or other office, which financing statement or analogous document, assignment, security agreement or similar instrument is still in effect, except,
in each case, for Liens created under the Loan Documents and the Permitted Liens. 
 SECTION 3.03. Covenants. (a) Upon the occurrence
and during the continuance of an Event of Default, each Loan Party shall, upon reasonable request of the Collateral Agent, promptly prepare and deliver to the Collateral Agent a duly certified schedule or schedules in form and detail satisfactory to
the Collateral Agent showing the identity, amount and location of any and all Article 9 Collateral. 
 (b) Each Loan Party agrees, at
its own expense, to execute, acknowledge, deliver and cause to be duly filed all such further instruments and documents and take all such actions as the Collateral Agent may from time to time reasonably request to better assure, preserve, protect
and perfect the Security Interest and the rights and remedies created hereby, including the payment of any fees and taxes required in connection with the execution and delivery of this Agreement, the granting of the Security Interest and the filing
of any financing statements (including, if applicable, fixture filings) or other documents in connection herewith or therewith. 
 Without
limiting the generality of the foregoing, each Loan Party hereby authorizes the Collateral Agent, with prompt notice thereof to the Loan Parties, to supplement this Agreement by supplementing Schedule II or adding additional schedules hereto to
specifically identify any asset or item that may constitute Article 9 Collateral financed with the proceeds of any Purchase Money Loans; provided that any Loan Party shall have the right, exercisable within 10 days after it has been
notified by the Collateral Agent of the specific identification of such additional Article 9 Collateral, to advise the Collateral Agent in writing of any inaccuracy (i) with respect to such supplement or additional schedule or (ii) of the
representations and warranties made by such Loan Party hereunder with respect to such Collateral. Each Loan Party agrees that it will use its reasonable best efforts to take such action as shall be necessary in order that all 

  

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representations and warranties hereunder shall be true and correct with respect to such Collateral within 30 days after the date it has been notified by
the Collateral Agent of the specific identification of such Collateral. 
 (c) At its option, the Collateral Agent may, upon the occurrence
and during the continuance of an Event of Default, discharge past due taxes, assessments, charges, fees and Liens at any time levied or placed on the Article 9 Collateral and not permitted pursuant to Section 5.07 or 6.08 of the Credit
Agreement, and may pay for the maintenance and preservation of the Article 9 Collateral to the extent any Loan Party fails to do so as required by the Credit Agreement or this Agreement, and each Loan Party jointly and severally agrees to
reimburse the Collateral Agent on demand for any payment made or any expense incurred by the Collateral Agent pursuant to the foregoing authorization; provided that nothing in this paragraph shall be interpreted as excusing any Loan Party
from the performance of, or imposing any obligation on the Collateral Agent or any Purchase Money Secured Party to cure or perform, any covenants or other promises of any Loan Party with respect to taxes, assessments, charges, fees or Liens and
maintenance as set forth herein or in the other Loan Documents. 
 (d) Each Loan Party shall remain liable to observe and perform all the
conditions and obligations to be observed and performed by it under each contract, agreement or instrument relating to the Article 9 Collateral, all in accordance with the terms and conditions thereof. 
 (e) Each Loan Party irrevocably makes, constitutes and appoints the Collateral Agent (and all officers, employees or agents designated by the Collateral
Agent) as such Loan Party’s true and lawful agent (and attorney-in-fact) for the purpose, after the occurrence and during the continuance of an Event of Default, of making, settling and adjusting claims in respect of Article 9 Collateral
under policies of insurance, endorsing the name of such Loan Party on any check, draft, instrument or other item of payment for the proceeds of such policies of insurance and for making all determinations and decisions with respect thereto. In the
event that any Loan Party at any time or times shall fail to obtain or maintain any of the policies of insurance required by the Credit Agreement or to pay any premium in whole or part relating thereto, the Collateral Agent may, without waiving or
releasing any obligation or liability of the Loan Parties hereunder or any Event of Default, in its sole discretion, obtain and maintain such policies of insurance and pay such premium and take any other actions with respect thereto as the
Collateral Agent deems advisable. All sums disbursed by the Collateral Agent in connection with this paragraph, including reasonable attorneys’ fees, court costs, expenses and other charges relating thereto, shall be payable, upon demand, by
the Loan Parties to the Collateral Agent and shall be additional Purchase Money Obligations secured hereby. 
 (f) Each Loan Party will, and
will cause each of the Restricted Subsidiaries to, at the Loan Parties’ expense, promptly following the request of the Collateral Agent (which may only be made following the occurrence and during the continuance of an Event of Default),
(i) deliver to the Collateral Agent, subject to having obtained any consent or approval of, or registration or filing with, any Governmental 

  

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Authority for such delivery, all access codes, command codes and command encryption necessary to establish access to and perform tracking, telemetry, control
and monitoring of any Satellite constituting Article 9 Collateral, including activation and control of any spacecraft subsystems and payload components and the transponders thereon (such access codes, command codes and command encryption being
collectively referred to as the “Satellite Codes”), in each case where such Satellite Codes are in possession, or subject to the control, of the Borrower or any Restricted Subsidiary, (ii) use its reasonable best efforts to
obtain any consent or approval of, or registration or filing with, any Governmental Authority referred to in clause (i) above or otherwise required to effect any transfer of operational control over any Satellite and related technical data
(including any license approving the export or re-export of such Satellite to any Person as designated by the Collateral Agent) and (iii) deliver to the Collateral Agent written evidence of the issuance of any such consent, approval,
registration or filing once such consent, approval, registration or filing has been obtained. 
 (g) Each Loan Party will, and will cause
each of the Restricted Subsidiaries to, at the Loan Parties’ expense, promptly following the request of the Collateral Agent (which may only be made following the occurrence and during the continuance of an Event of Default), use its reasonable
best efforts to obtain from each provider (other than the Borrower or any Restricted Subsidiary) of tracking, telemetry, control and monitoring services for any Satellite constituting Article 9 Collateral, an agreement of such provider with the
Collateral Agent (i) to deliver to the Collateral Agent, promptly following notification by the Collateral Agent that an Event of Default has occurred and is continuing, subject to having obtained any consent or approval of, or registration or
filing with, any Governmental Authority for such delivery, all Satellite Codes in possession, or subject to the control, of such provider and, following delivery thereof, not change any such Satellite Codes without promptly furnishing to the
Collateral Agent the new Satellite Codes, (ii) to use its reasonable best efforts, upon notification by the Collateral Agent that an Event of Default has occurred and is continuing, to obtain any consent or approval of, or registration or
filing with, any Governmental Authority referred to in clause (i) above or otherwise required to effect any transfer of operational control over any Satellite for which such provider is providing any of the abovementioned services and related
technical data and (iii) to deliver to the Collateral Agent written evidence of the issuance of any such consent, approval, registration or filing once such consent, approval, registration or filing has been obtained. If, notwithstanding the
Loan Parties’ and the Restricted Subsidiaries’ having used their reasonable best efforts to obtain the agreements referred to in this paragraph, any such agreement shall not have been so obtained, each Loan Party shall, and shall cause the
Restricted Subsidiaries to, instruct each such provider of tracking, telemetry, control and monitoring services (and each manufacturer of any Satellite that has not yet been launched) to cooperate in providing the Satellite Codes, consents,
approvals, registrations and filings referred to in this paragraph. 
 (h) In the event that the United States signs and ratifies the
Protocol on Space Assets to the Capetown Convention on Mobile Equipment, then each Loan Party shall ensure that any international interests (as defined in such Convention) with respect to space assets (as defined in such Protocol) constituting
Article 9 Collateral are properly 

  

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registered with the international registry referred to therein and shall otherwise take all actions reasonably requested by the Collateral Agent to ensure
that the security interest of the Collateral Agent is fully perfected and protected under such Protocol and such Convention. 
 (i) No Loan
Party shall sell, lease, transfer or otherwise dispose of all or any part of any Article 9 Collateral without the prior written consent of the Collateral Agent, which consent shall not be unreasonably withheld. 
 ARTICLE IV 
 Remedies 
 SECTION 4.01. Remedies Upon Default. Upon the occurrence and during the continuance of an Event of Default, each Loan Party agrees to deliver, on
demand, each item of Article 9 Collateral to the Collateral Agent or any Person designated by the Collateral Agent, and it is agreed that the Collateral Agent shall have the right to, with or without legal process and with or without prior notice or
demand for performance, to take possession of the Article 9 Collateral and without liability for trespass to enter any premises where the Article 9 Collateral may be located for the purpose of taking possession of or removing the Article 9
Collateral and, generally, to exercise any and all rights afforded to a secured party under the Uniform Commercial Code or other applicable law. Without limiting the generality of the foregoing, each Loan Party agrees that the Collateral Agent shall
have the right, subject to the mandatory requirements of applicable law, to sell or otherwise dispose of all or any part of the Article 9 Collateral at a public or private sale, for cash, upon credit or for future delivery as the Collateral Agent
shall deem appropriate. Each such purchaser at any sale of Article 9 Collateral shall hold the property sold absolutely, free from any claim or right on the part of any Loan Party, and each Loan Party hereby waives (to the extent permitted by law)
all rights of redemption, stay and appraisal which such Loan Party now has or may at any time in the future have under any rule of law or statute now existing or hereafter enacted. 
 The Collateral Agent shall give the applicable Loan Parties 10 days’ written notice (which each Loan Party agrees is reasonable notice within
the meaning of Section 9-611 of the New York UCC or its equivalent in other jurisdictions) of the Collateral Agent’s intention to make any sale of Article 9 Collateral. Such notice, in the case of a public sale, shall state the time
and place for such sale. Any such public sale shall be held at such time or times within ordinary business hours and at such place or places as the Collateral Agent may fix and state in the notice (if any) of such sale. At any such sale, the Article
9 Collateral, or portion thereof, to be sold may be sold in one lot as an entirety or in separate parcels, as the Collateral Agent may (in its sole and absolute discretion) determine. The Collateral Agent shall not be obligated to make any sale of
any Article 9 Collateral if it shall determine not to do so, regardless of the fact that notice of sale of such Article 9 Collateral shall have been given. The Collateral Agent may, without notice or publication, adjourn any public or private sale
or cause the same to be adjourned from time to time by announcement at the time and place fixed for sale, and 

  

 11 

 
such sale may, without further notice, be made at the time and place to which the same was so adjourned. In case any sale of all or any part of the Article 9
Collateral is made on credit or for future delivery, the Article 9 Collateral so sold may be retained by the Collateral Agent until the sale price is paid by the purchaser or purchasers thereof, but the Collateral Agent and the other Purchase Money
Secured Parties shall not incur any liability in case any such purchaser or purchasers shall fail to take up and pay for the Article 9 Collateral so sold and, in case of any such failure, such Article 9 Collateral may be sold again upon like notice.
At any public (or, to the extent permitted by law, private) sale made pursuant to this Agreement, any Purchase Money Secured Party may bid for or purchase, free (to the extent permitted by law) from any right of redemption, stay, valuation or
appraisal on the part of any Loan Party (all said rights being also hereby waived and released to the extent permitted by law), the Article 9 Collateral or any part thereof offered for sale and may make payment on account thereof by using any claim
then due and payable to such Purchase Money Secured Party from any Loan Party as a credit against the purchase price, and such Purchase Money Secured Party may, upon compliance with the terms of sale, hold, retain and dispose of such property
without further accountability to any Loan Party therefor. For purposes hereof, a written agreement to purchase the Article 9 Collateral or any portion thereof shall be treated as a sale thereof; the Collateral Agent shall be free to carry out such
sale pursuant to such agreement and no Loan Party shall be entitled to the return of the Article 9 Collateral or any portion thereof subject thereto, notwithstanding the fact that after the Collateral Agent shall have entered into such an agreement
all Events of Default shall have been remedied and the Purchase Money Obligations paid in full. As an alternative to exercising the power of sale herein conferred upon it, the Collateral Agent may proceed by a suit or suits at law or in equity to
foreclose this Agreement and to sell the Article 9 Collateral or any portion thereof pursuant to a judgment or decree of a court or courts having competent jurisdiction or pursuant to a proceeding by a court-appointed receiver. Any sale pursuant to
the provisions of this Section 4.01 shall be deemed to conform to the commercially reasonable standards as provided in Section 9-610(b) of the New York UCC or its equivalent in other jurisdictions. 
 The Collateral Agent acknowledges that the exercise of its rights and remedies hereunder, including the rights set forth in this Section 4.01, may
require prior approval of, or notice to, the FCC pursuant to the Communications Act of 1934, as amended, and the regulations promulgated thereunder. 
 SECTION 4.02. Application of Proceeds. The Collateral Agent shall apply the proceeds of any collection or sale of Article 9 Collateral as follows: 
 FIRST, to the payment of all costs and expenses incurred by the Collateral Agent in connection with such collection or sale or otherwise
in connection with this Agreement, any other Loan Document or any of the Purchase Money Obligations, including all court costs and the reasonable fees and expenses of its agents and legal counsel, the repayment of all advances made by the Collateral
Agent hereunder or under any other Loan Document on behalf of any Loan Party and any other costs or expenses incurred in connection with the exercise of any right or remedy hereunder or under any other Loan Document; 
  

 12 

 SECOND, to the payment in full of the Purchase Money Obligations (the amounts so applied
to be distributed among the Purchase Money Secured Parties pro rata in accordance with the amounts of the Purchase Money Obligations owed to them on the date of any such distribution); and 
 THIRD, to the Loan Parties, their successors or assigns, or as a court of competent jurisdiction may otherwise direct. 
 The Collateral Agent shall have absolute discretion as to the time of application of any such proceeds, moneys or balances in accordance with this Agreement. Upon any
sale of Article 9 Collateral by the Collateral Agent (including pursuant to a power of sale granted by statute or under a judicial proceeding), the receipt of the Collateral Agent or of the officer making the sale shall be a sufficient discharge to
the purchaser or purchasers of the Article 9 Collateral so sold and such purchaser or purchasers shall not be obligated to see to the application of any part of the purchase money paid over to the Collateral Agent or such officer or be answerable in
any way for the misapplication thereof. 
 SECTION 4.03. Grant of License to Use Intellectual Property. Solely for the purpose of
enabling the Collateral Agent to exercise rights and remedies under this Agreement at such time as the Collateral Agent shall be lawfully entitled to exercise such rights and remedies, each Loan Party hereby grants to the Collateral Agent an
irrevocable (except upon the indefeasible payment in full in cash of all the Purchase Money Obligations), nonexclusive license (exercisable without payment of royalty or 
 other compensation to the Loan Parties) to use, license or sublicense Intellectual Property of such Loan Party that is necessary for the operation, maintenance or use of the Article 9 Collateral now or hereafter owned
by such Loan Party, and wherever the same may be located, and including in such license reasonable access to all media in which any of the licensed items may be recorded or stored and to all computer software and programs used for the compilation or
printout thereof. The use of such license by the Collateral Agent may be exercised, at the option of the Collateral Agent, only upon the occurrence and during the continuation of an Event of Default as part of the Collateral Agent’s exercise of
remedies hereunder. 
 ARTICLE V  
 Indemnity, Subrogation and Subordination 
 SECTION 5.01. Indemnity and Subrogation. In addition to all such rights of
indemnity and subrogation as the Subsidiary Guarantors may have under applicable law (but subject to Section 5.03), the Borrower agrees that (a) in the event a payment of an obligation shall be made by any Subsidiary Guarantor under this
Agreement, the Borrower shall indemnify such Subsidiary Guarantor for the full amount of such payment and such Subsidiary Guarantor shall be subrogated to the rights of the Person to whom such payment shall have been made to the extent of such
payment and (b) in the event any assets of any Subsidiary Guarantor shall be sold pursuant to this Agreement or any other Security Document to satisfy in whole or in part an obligation owed to any Secured Party, the Borrower shall indemnify
such Subsidiary Guarantor in an amount equal to the greater of the book value or the fair market value of the assets so sold. 
  

 13 

 SECTION 5.02. Contribution and Subrogation. Each Subsidiary Guarantor (a “Contributing
Party”) agrees (subject to Section 5.03) that, in the event a payment shall be made by any other Subsidiary Guarantor hereunder in respect of any Obligation or assets of any other Subsidiary Guarantor shall be sold pursuant to any
Security Document to satisfy any Purchase Money Obligation (other, in each case, than a Purchase Money Obligation for the incurrence of which such other Subsidiary Guarantor received fair and adequate consideration) and such other Subsidiary
Guarantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 5.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or
the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be
the aggregate net worth of all the Subsidiary Guarantors on the date hereof (or, in the case of any Subsidiary Guarantor becoming a party hereto pursuant to Section 6.14, the date of the supplement hereto executed and delivered by such
Subsidiary Guarantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 5.02 shall be subrogated to the rights of such Claiming Party under Section 5.01 to the extent of such payment. 
 SECTION 5.03. Subordination. (a) Notwithstanding any provision of this Agreement to the contrary, all rights of the Subsidiary Guarantors under
Sections 5.01 and 5.02 and all other rights of indemnity, contribution or subrogation under applicable law or otherwise shall be fully subordinated to the indefeasible payment in full in cash of the Purchase Money Obligations. No failure on the
part of any Subsidiary Guarantor to make the payments required by Sections 5.01 and 5.02 (or any other payments required under applicable law or otherwise) shall in any respect limit the obligations and liabilities of any Subsidiary Guarantor
with respect to its Purchase Money Obligations hereunder, and each Subsidiary Guarantor shall remain liable for the full amount of the obligations of such Subsidiary Guarantor hereunder. 
 (b) Each Subsidiary Guarantor hereby agrees that all Indebtedness and other monetary obligations owed to it by Borrower, any other Subsidiary Guarantor
or any other Subsidiary shall be fully subordinated to the indefeasible payment in full in cash of the Purchase Money Obligations. 
 ARTICLE
VI  
 Miscellaneous 
 SECTION 6.01. Notices. All communications and notices hereunder shall (except as otherwise expressly permitted herein) be in writing and given as provided in Section 9.01 of the Credit Agreement. All communications and notices
hereunder to any Subsidiary Guarantor shall be given to it in care of the Borrower as provided in Section 9.01 of the Credit Agreement. 
  

 14 

 SECTION 6.02. Waivers; Amendment. (a) No failure or delay by the Collateral Agent or any other
Secured Party in exercising any right or power hereunder or under any other Loan Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to
enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or power. The rights and remedies of the Collateral Agent, the Administrative Agent and the other Purchase Money Secured Parties
hereunder and under the other Loan Documents are cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of this Agreement or consent to any departure by any Loan Party therefrom shall in
any event be effective unless the same shall be permitted by paragraph (b) of this Section 6.02, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. Without limiting the
generality of the foregoing, the making of a Loan shall not be construed as a waiver of any Default, regardless of whether the Collateral Agent, any Purchase Money Lender or any other Person may have had notice or knowledge of such Default at the
time. No notice or demand on any Loan Party in any case shall entitle any Loan Party to any other or further notice or demand in similar or other circumstances. 
 (b) Neither this Agreement nor any provision hereof may be waived, amended or modified except pursuant to an agreement or agreements in writing entered into by the Collateral Agent and the Loan Party or Loan Parties
with respect to which such waiver, amendment or modification is to apply, subject to any consent required in accordance with Section 9.02 of the Credit Agreement. 
 SECTION 6.03. Collateral Agent’s Fees and Expenses; Indemnification. (a) The parties hereto agree that the Collateral Agent shall be entitled to reimbursement of its expenses incurred hereunder as provided
in Section 9.03 of the Credit Agreement. 
 (b) Without limitation of its indemnification obligations under the other Loan Documents,
each Loan Party jointly and severally agrees to indemnify the Collateral Agent and the other Indemnitees (as defined in Section 9.03(b) of the Credit Agreement) against, and hold each Indemnitee harmless from, any and all losses, claims,
damages, liabilities and related expenses, including the reasonable fees, charges and disbursements of counsel, incurred by or asserted against any Indemnitee arising out of, in connection with, or as a result of (i) the execution or delivery
of this Agreement or (ii) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing or to the Article 9 Collateral, whether based on contract, tort or any other theory and regardless of whether
any Indemnitee is a party thereto and whether or not such claim, litigation, investigation or proceeding is brought by any Loan Party or any of its Affiliates or a third party; provided that such indemnity shall not, as to any Indemnitee, be
available to the extent that such losses, claims, damages, liabilities or related expenses are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of
such Indemnitee. To the extent permitted by applicable law, none of the Loan Parties shall assert, and each Loan Party hereby waives, any claim against the Collateral Agent or any other Indemnitee, on any theory of liability, for special, indirect,
consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection 

  

 15 

 
with, or as a result of, this Agreement, any other Loan Document or any agreement or instrument contemplated hereby, the Transactions, any Loan or the use of
the proceeds thereof. 
 (c) Any such amounts payable as provided hereunder shall be additional Purchase Money Obligations secured hereby and
by the other Security Documents securing the Purchase Money Obligations. The provisions of this Section 6.03 shall survive and remain in full force and effect regardless of the termination of this Agreement or any other Loan Document, the
consummation of the transactions contemplated hereby, the repayment of any of the Purchase Money Obligations, the invalidity or unenforceability of any term or provision of this Agreement or any other Loan Document, or any investigation made by or
on behalf of the Collateral Agent or any other Purchase Money Secured Party. All amounts due under this Section 6.03 shall be payable promptly after written demand therefor. 
 SECTION 6.04. Successors and Assigns. Whenever in this Agreement any of the parties hereto is referred to, such reference shall be deemed to
include the permitted successors and assigns of such party; and all covenants, promises and agreements by or on behalf of any Loan Party or the Collateral Agent that are contained in this Agreement shall bind and inure to the benefit of their
respective successors and assigns. 
 SECTION 6.05. Survival of Agreement. All covenants, agreements, representations and warranties
made by the Loan Parties herein or in any other Loan Document or in the certificates or other instruments delivered in connection with or pursuant to this Agreement or any other Loan Document shall be considered to have been relied upon by the other
parties hereto or thereto and shall survive the execution and delivery of this Agreement and any other Loan Document and the making of any Loans, regardless of any investigation made by any such other party or on its behalf and notwithstanding that
the Collateral Agent or any other Secured Party may have had notice or knowledge of any Default or incorrect representation or warranty at the time any credit is extended under the Credit Agreement, and shall continue in full force and effect as
long as the principal of or any accrued interest on any Loan or any fee or any other amount payable under any Loan Document is outstanding and unpaid. 
 SECTION 6.06. Counterparts; Effectiveness; Several Agreement. This Agreement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an
original but all of which when taken together shall constitute a single contract. This Agreement shall become effective as to any Loan Party when a counterpart hereof executed on behalf of such Loan Party shall have been delivered to the Collateral
Agent and a counterpart hereof shall have been executed on behalf of the Collateral Agent, and thereafter shall be binding upon such Loan Party and the Collateral Agent and their respective permitted successors and assigns, and shall inure to the
benefit of such Loan Party, the Collateral Agent and the other Purchase Money Secured Parties and their respective successors and assigns, except that no Loan Party shall have the right to assign or transfer its rights or obligations hereunder or
any interest herein or in the Article 9 Collateral (and any such assignment or 

  

 16 

 
transfer shall be void) except as expressly contemplated by this Agreement or the Credit Agreement. This Agreement shall be construed as a separate agreement
with respect to each Loan Party and may be amended, modified, supplemented, waived or released with respect to any Loan Party without the approval of any other Loan Party and without affecting the obligations of any other Loan Party hereunder.

 SECTION 6.07. Severability. Any provision of this Agreement held to be invalid, illegal or unenforceable in any jurisdiction shall,
as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof; and the invalidity of a particular provision in
a particular 
 jurisdiction shall not invalidate such provision in any other jurisdiction. The parties shall endeavor in good faith negotiations to replace
the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 
 SECTION 6.08. Right of Set-Off. If an Event of Default shall have occurred and be continuing, each Agent, each Purchase Money Lender and each of
their Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final and in whatever currency
denominated) at any time held and other obligations at any time owing by such Agent, Purchase Money Lender or Affiliate to or for the credit or the account of the Subsidiary Guarantors against any overdue obligations of such Subsidiary Guarantor now
or hereafter existing under this Agreement or any other Loan Document that are held by such Agent or Purchase Money Lender, irrespective of whether or not such Agent or Purchase Money Lender shall have made any demand under this Agreement or such
other Loan Document. The rights of each Purchase Money Lender under this Section are in addition to other rights and remedies (including other rights of setoff) which such Agent or Purchase Money Lender may have. 
 SECTION 6.09. Governing Law; Jurisdiction; Consent to Service of Process. (a) This Agreement shall be construed in accordance with and governed by
the law of the State of New York. 
 (b) Each of the Loan Parties hereby irrevocably and unconditionally submits, for itself and its
property, to the nonexclusive jurisdiction of the Supreme Court of the State of New York sitting in New York County and of the United States District Court of the Southern District of New York, and any appellate court from any thereof, in any action
or proceeding arising out of or relating to this Agreement or any other Loan Document, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any
such action or proceeding may be heard and determined in such New York State or, to the extent permitted by law, in such Federal court. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive
and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement or any other Loan Document shall affect any right that the Collateral Agent or any Lender may otherwise have to
bring any action or proceeding relating to this Agreement or any other Loan Document against any Loan Party, or its properties in the courts of any jurisdiction. 
  

 17 

 (c) Each of the Loan Parties hereby irrevocably and unconditionally waives, to the fullest extent it may
legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement or any other Loan Document in any court referred to in paragraph
(b) of this Section 6.09. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 
 (d) Each party to this Agreement irrevocably consents to service of process in the manner provided for notices in Section 6.01. Nothing in this
Agreement or any other Loan Document will affect the right of any party to this Agreement to serve process in any other manner permitted by law. 
 SECTION 6.10. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR
RELATING TO THIS AGREEMENT, ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS
REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY,
AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 6.10. 
 SECTION 6.11. Headings. Article and Section
headings and the Table of Contents used herein are for convenience of reference only, are not part of this Agreement and are not to affect the construction of, or to be taken into consideration in interpreting, this Agreement. 
 SECTION 6.12. Security Interest Absolute. All rights of the Collateral Agent hereunder, the Security Interest, the grant of a security interest in
the Article 9 Collateral and all obligations of each Loan Party hereunder shall be absolute and unconditional irrespective of (a) any lack of validity or enforceability of the Credit Agreement, any other Loan Document, any agreement with
respect to any of the Purchase Money Obligations or any other agreement or instrument relating to any of the foregoing, (b) any change in the time, manner or place of payment of, or in any other term of, all or any of the Purchase Money
Obligations, or any other amendment or waiver of or any consent to any departure from the Credit Agreement, any other Loan Document or any other agreement or instrument, (c) any exchange, release or non-perfection of any Lien on other
collateral, or any release or amendment or waiver of or consent under or 

  

 18 

 
departure from any guarantee, securing or guaranteeing all or any of the Purchase Money Obligations, or (d) any other circumstance that might otherwise
constitute a defense available to, or a discharge of, any Loan Party in respect of the Obligations or this Agreement. 
 SECTION 6.13.
Termination or Release. (a) This Agreement, the Guarantees made herein, the Security Interest and all other security interests granted hereby shall terminate when all the Obligations (other than, with respect to the termination of the
Security Interest and all other security interests granted hereby only, any Obligations that consists solely of contingent obligations) have been indefeasibly paid in full and the Lenders have no further commitment to lend under the Credit
Agreement. In connection with any termination pursuant to this paragraph, the Collateral Agent shall execute and deliver to any Subsidiary Guarantor, at such Subsidiary Guarantor’s expense, all Uniform Commercial Code termination statements and
any other documents that such Subsidiary Guarantor shall reasonably request to evidence such termination. Any execution and delivery of documents pursuant to this Section 6.13 shall be without recourse to, or representation of warranty by, the
Collateral Agent or any other Secured Party. 
 (b) Release of any Subsidiary Guarantor from its obligations hereunder and of the Security
Interest in any Article 9 Collateral shall be governed by Section 9.13 of the Credit Agreement. 
 SECTION 6.14. Additional
Subsidiaries. Pursuant to Section 5.11 of the Credit Agreement, certain Subsidiaries not originally parties hereto may be required from time to time to enter in this Agreement as Subsidiary Guarantors. Upon execution and delivery by the
Collateral Agent and a Subsidiary of an instrument in the form of Exhibit I hereto, such Subsidiary shall become a Subsidiary Guarantor hereunder with the same force and effect as if originally named as a Subsidiary Guarantor herein. The
execution and delivery of any such instrument shall not require the consent of any other Loan Party hereunder. The rights and obligations of each Loan Party hereunder shall remain in full force and effect notwithstanding the addition of any new Loan
Party as a party to this Agreement. 
 SECTION 6.15. Collateral Agent Appointed Attorney-in-Fact. Each Loan Party hereby appoints the
Collateral Agent the attorney-in-fact of such Loan Party for the purpose of carrying out the provisions of this Agreement and taking any action and executing any instrument that the Collateral Agent may deem necessary or advisable to accomplish the
purposes hereof, which appointment is irrevocable and coupled with an interest. Without limiting the generality of the foregoing, the Collateral Agent shall have the right, but only upon the occurrence and during the continuance of an Event of
Default, with full power of substitution either in the Collateral Agent’s name or in the name of such Loan Party (a) to receive, endorse, assign and/or deliver any and all notes, acceptances, checks, drafts, money orders or other evidences
of payment relating to the Article 9 Collateral or any part thereof; (b) to demand, collect, receive payment of, give receipt for and give discharges and releases of all or any of the Article 9 Collateral; (c) to sign the name of any Loan
Party on any invoice or bill of lading relating to any of the 

  

 19 

 
Article 9 Collateral; (d) to commence and prosecute any and all suits, actions or proceedings at law or in equity in any court of competent jurisdiction
to collect or otherwise realize on all or any of the Article 9 Collateral or to enforce any rights in respect of any Article 9 Collateral; (e) to settle, compromise, compound, adjust or defend any actions, suits or proceedings relating to all
or any of the Article 9 Collateral; and (f) to use, sell, assign, transfer, pledge, make any agreement with respect to or otherwise deal with all or any of the Article 9 Collateral, and to do all other acts and things necessary to carry out the
purposes of this Agreement, as fully and completely as though the Collateral Agent were the absolute owner of the Article 9 Collateral for all purposes; provided that nothing herein contained shall be construed as requiring or obligating the
Collateral Agent to make any commitment or to make any inquiry as to the nature or sufficiency of any payment received by the Collateral Agent, or to present or file any claim or notice, or to take any action with respect to the Article 9 Collateral
or any part thereof or the moneys due or to become due in respect thereof or any property covered thereby. The Collateral Agent and the other Purchase Money Secured Parties shall be accountable only for amounts actually received as a result of the
exercise of the powers granted to them herein, and neither they nor their officers, directors, employees or agents shall be responsible to any Loan Party for any act or failure to act hereunder, except for their own gross negligence, bad faith or
willful misconduct. 
 SECTION 6.16. Specific Performance. The parties agree that irreparable damage would occur and that the Purchase
Money Lenders and the other Purchase Money Secured Parties would not have any adequate remedy at law in the event that any provision of Sections 3.03(f), 3.03(g) and 3.03(h) were not performed in accordance with their specific terms or were
otherwise breached. It is accordingly agreed that the Administrative Agent and the Required Lenders shall be entitled to an injunction or injunctions to prevent breaches of such Sections by any Loan Party and to enforce specifically the terms and
provisions of this Agreement in any court referred to in Section 6.09(b), this being in addition to any other remedy to which they are entitled at law or in equity. Each Loan Party hereby irrevocably waives any defense based on the adequacy of
a remedy at law and any other defense that might be asserted to bar the remedy of specific performance referred to in the immediately preceding sentence that may be brought by the Administrative Agent or the Required Lenders. 
 SECTION 6.17. Amendment and Restatement of Existing Agreement. This Agreement shall amend and restate the Existing Agreement. Each Loan Party who
has provided a guarantee or granted to the Collateral Agent a security interest in any of the Article 9 Collateral pursuant to the Existing Agreement and the Collateral Agent intend that this Agreement shall not cause a novation of any of such
guarantee or such grants of security interests or the obligations of such Loan Party under the Existing Agreement, nor shall it extinguish, terminate or impair such Loan Party’s guarantee, grant of security interests or obligations or the
rights or remedies of the Purchase Money Secured Parties under the Existing Agreement or any other Collateral Agreement; provided that all such guarantees, grants of security interests, obligations, rights and remedies shall be on the terms
and conditions of, and as set forth in, this Agreement, the Credit Agreement and the other Loan Documents. In addition, this Agreement shall not release, limit or impair in any way the priority of any security interests held by the 

  

 20 

 
Collateral Agent for the benefit of the Purchase Money Secured Parties in any assets of the Loan Parties arising under the Existing Agreement or any other
Collateral Agreement. 
 (Remainder of page intentionally left blank.) 
  

 21 

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

					
	SIRIUS XM RADIO INC.,
		
	by 	 	/s/ Patrick Donnelly
		 	Name:	 	Patrick Donnelly
		 	Title:	 	Executive Vice President, General Counsel and Secretary

  

 22 

					
	LIBERTY MEDIA CORPORATION, as Collateral Agent,
		
	by 	 	/s/ David Flowers
		 	Name:	 	David Flowers
		 	Title:	 	SVP and Treasurer

  

 23 

 Schedule I 
 to the Supplement No      to the 
 Guarantee and 
 Collateral Agreement 
 SUBSIDIARY GUARANTOR

 SIGNATURE PAGE TO 
 THE GUARANTEE
AND 
 COLLATERAL AGREEMENT 
  

					
	SATELLITE CD RADIO, INC.,
		
	by 	 	/s/ Patrick Donnelly
		 	Name:	 	Patrick Donnelly
		 	Title:	 	Secretary

  

 24 

 SUBSIDIARY GUARANTOR 
 SIGNATURE PAGE TO 
 THE GUARANTEE AND 
 COLLATERAL AGREEMENT 
  

					
	SIRIUS ASSET MANAGEMENT COMPANY LLC
		
	by 	 	/s/ Patrick Donnelly
		 	Name:	 	Patrick Donnelly
		 	Title:	 	Secretary

  

 25Fourth Amendment to the Second Amended And Restated Credit Agreement

 Exhibit 4.1 
 [EXECUTION COPY] 
 FOURTH AMENDMENT TO 
 SECOND AMENDED AND RESTATED CREDIT AGREEMENT 
 THIS FOURTH AMENDMENT TO
SECOND AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”), dated as of May 7, 2009, is entered into among AMN HEALTHCARE, INC., a Nevada corporation (the “Borrower”), AMN HEALTHCARE
SERVICES, INC., a Delaware corporation (the “Parent”), the Subsidiary Guarantors from time to time parties thereto, the lenders identified on the signature pages hereto (the “Lenders”) and BANK OF AMERICA,
N.A., as Administrative Agent. 
 W I T N E S S E T H 
 WHEREAS, the Borrower, the Parent, the Subsidiary Guarantors, the Lenders party thereto, and the Administrative Agent entered into that certain
Second Amended and Restated Credit Agreement dated as of November 2, 2005, as amended by that certain First Amendment to Second Amended and Restated Credit Agreement dated as of May 1, 2006, as amended by that certain Second Amendment to
Second Amended and Restated Credit Agreement dated as of July 6, 2007 and as amended by that certain Third Amendment to Second Amended and Restated Credit Agreement dated as of April 28, 2008 (the “Existing Credit
Agreement”); 
 WHEREAS, the Borrower has requested that the Lenders amend certain provisions of the Existing Credit
Agreement; 
 WHEREAS, the Lenders have agreed to amend the Existing Credit Agreement in accordance with such request and as provided
herein; and 
 NOW, THEREFORE, in consideration of the agreements hereinafter set forth, and for other good and valuable
consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows: 
 PART 1 
 DEFINITIONS 
 SUBPART 1.1
Certain Definitions. Unless otherwise defined herein or the context otherwise requires, the following terms used in this Amendment, including its preamble and recitals, have the following meanings: 
 “Amended Credit Agreement” means the Existing Credit Agreement as amended hereby. 
 “Fourth Amendment” has the meaning set forth in Subpart 3.1. 
 SUBPART 1.2 Other Definitions. Unless otherwise defined herein or the context otherwise requires, terms used in this Amendment, including
its preamble and recitals, have the meanings provided in the Existing Credit Agreement. 

 PART 2 
 AMENDMENTS TO EXISTING CREDIT AGREEMENT 
 Effective on (and subject to the occurrence of) the Fourth
Amendment Effective Date, the Existing Credit Agreement is hereby amended in accordance with this Part II. 
 SUBPART 2.1
Amendments to Section 1.1. 
 (a) The definition of “Base Rate” is hereby amended and restated in its entirety to
read as follows: 
 “Base Rate” means, for any day, the rate per annum equal to the highest of (a) the
Federal Funds Rate for such day plus one-half of one percent (0.5%), (b) the Prime Rate for such day and (c) the Eurodollar Rate for a Eurodollar Rate Loan with an Interest Period of one month calculated on such day (or if such day is not
a Business Day, the immediately preceding Business Day) plus 1.00%. Any change in the Base Rate due to a change in the Prime Rate or the Federal Funds Rate shall be effective on the effective date of such change in the Prime Rate or Federal Funds
Rate. 
 (b) The definition of “Interest Period” is hereby amended and restated in its entirety to read as follows: 
 “Interest Period” means, as to Eurodollar Loans, a period of three or six months’ duration, as the Borrower may
elect, commencing, in each case, on the date of the borrowing (including continuations and conversions thereof); provided, however, (a) if any Interest Period would end on a day which is not a Business Day, such Interest Period
shall be extended to the next succeeding Business Day (except that where the next succeeding Business Day falls in the next succeeding calendar month, then on the next preceding Business Day), (b) no Interest Period entered into prior to the
Existing Revolving Maturity Date shall extend beyond the Existing Revolving Maturity Date, (c) no Interest Period shall extend beyond the Extended Revolving Maturity Date and (d) where an Interest Period begins on a day for which there is
no numerically corresponding day in the calendar month in which the Interest Period is to end, such Interest Period shall end on the last Business Day of such calendar month. 
 (c) The definition of “Lender” set forth in Section 1.1 of the Existing Credit Agreement is hereby amended in its entirety to read
as follows: 
 “Lender” shall mean the Extending Lenders, the Non-Extending Lenders, the Tranche B Lenders,
the Issuing Lender and/or the Swingline Lender, as applicable, including the Incremental Lenders and any Person which may become a Lender by way of assignment in accordance with the terms hereof, together with their successors and permitted assigns.

 (d) The definition of “Letter of Credit Expiration Date” is hereby amended and restated in its entirety to read as follows:

 “Letter of Credit Expiration Date” means the day that is fifteen days prior to the Extended Revolving
Maturity Date (or, if such day is not a Business Day, the next preceding Business Day). 
  

 2 

 (e) The definition of “Maturity Date” found in Section 1.1 of the Existing Credit
Agreement is hereby amended and restated in its entirety to read as follows: 
 “Maturity Date” means
(i) with respect to the Revolving Loans, the Revolving Maturity Date and (ii) with respect to the Tranche B Loans, November 2, 2011. 
 (f) The definition of “Permitted Liens” set forth in Section 1.1 of the Existing Credit Agreement is hereby amended by adding a new clause (xvii) to the end thereof to read as follows and making the appropriate
grammatical changes thereto: 
 (xvii) Liens, if any, in favor of the Issuing Lender and/or Swingline Lender to cash
collateralize or otherwise secure the obligations of an Impacted Lender to fund risk participations hereunder. 
 (g) The following new
definitions are hereby added to Section 1.1 of the Existing Credit Agreement in their appropriate alphabetical order: 
 “Consolidated Adjusted EBITDA” means, as of any date for the four fiscal quarter period ending on such date with respect to the Consolidated Parties on a consolidated basis as determined in accordance with GAAP, the sum of
(i) Consolidated EBITDA plus (ii) cash restructuring charges incurred during such period. 
 “Extended Revolving Commitment” means the Revolving Commitment of a Lender that matures on the Extended Revolving Maturity Date. 
 “Existing Revolving Maturity Date” means November 2, 2010. 
 “Extended Revolving Maturity Date” means November 2, 2011. 
 “Extending
Lender” means those Revolving Lenders with a Revolving Commitment that matures on the Extended Revolving Maturity Date. 
 “Extension Unused Fee” shall have the meaning set forth in Section 3.5(e). 
 “Extension Unused Fee Calculation Period” shall have the meaning set forth in Section 3.5(e). 
 “Fourth Amendment Effective Date” shall mean May 7, 2009. 
 “Incremental
Lender” shall have the meaning set forth in Section 2.5(c). 
 “Impacted Lender” means a
Defaulting Lender or any Lender as to which (a) the Issuing Lender has knowledge that the Lender has defaulted in fulfilling its obligations under one or more other syndicated credit facilities or (b) an entity that controls the Lender has
been deemed insolvent or become subject to a bankruptcy or other similar proceeding. 
  

 3 

 “Non-Extending Lender” means those Revolving Lenders with a Revolving
Commitment that matures on the Existing Revolving Maturity Date. 
 “Non-Extended Revolving Commitment” means
the Revolving Commitment of a Revolving Lender that matures on the Existing Revolving Maturity Date. 
 “Participant” shall have the meaning set forth in Section 11.3(d). 
 “Revolving
Maturity Date” shall mean (a) for Revolving Loans and Revolving Commitments held by Non-Extending Lenders, the Existing Revolving Maturity Date and (b) for Revolving Loans and Revolving Commitments held by Extending Lenders, the
Extended Revolving Maturity Date. 
 “Utilization Spread” shall have the meaning set forth in
Section 3.5(d). 
 (h) The following definitions are hereby deleted from Section 1.1 of the Existing Credit Agreement:

 Incremental Tranche B Lender 
 Incremental Tranche B Loan 
 Leverage Increase Effective Date 
 SUBPART 2.2 Amendment to Section 2.2. Section 2.2(a)(iii)(F) of the Existing Credit Agreement is hereby amended and restated in
its entirety to read as follows: 
 (F) a default of any Revolving Lender’s obligations to fund under
Section 2.2(c) exists or any Revolving Lender is at such time an Impacted Lender hereunder, unless the Issuing Lender has entered into satisfactory arrangements with the Borrower or such Revolving Lender to eliminate the Issuing
Lender’s risk with respect to such Revolving Lender. 
 SUBPART 2.3 Amendments to Section 2.3. 
 (a) Section 2.3(b)(i) of the Existing Credit Agreement is hereby amended to add a sentence to the end thereof to read as follows:

 It is understood and agreed that, notwithstanding anything to the contrary contained above, the Swingline Lender shall have
no obligation to make Swingline Loans if any Revolving Lender is at such time an Impacted Lender, unless the Swingline Lender has entered into reasonably satisfactory arrangements with the Borrower or such Revolving Lender to eliminate the Swingline
Lender’s risk with respect to such Revolving Lender. 
 (b) Section 2.3(c)(i) of the Existing Credit Agreement is
hereby amended and restated in its entirety to read as follows: 
 (i) Rate of Interest. Subject to the provisions of
Section 3.1, each Swingline Loan shall bear interest at a per annum rate equal to the Base Rate plus the Utilization Spread set forth in Section 3.5(d). 
  

 4 

 SUBPART 2.4 Amendment to Section 2.5. Section 2.5 of the Existing Credit
Agreement is hereby amended and restated in its entirety to read as follows: 
 2.5 Increase in Revolving Commitments.

 (a) Request for Increase. Provided there exists no Default or Event of Default, upon notice to the Administrative Agent (which
shall promptly notify the existing Revolving Lenders), the Borrower may, on a one-time basis prior to November 7, 2009, request an increase in the Revolving Committed Amount in an amount not to exceed $15,000,000; provided that the
additional Revolving Commitments of an existing Lender and each new Revolving Commitment from a new Lender obtained by the Borrower in accordance with Section 2.5(c) shall mature on the Extended Revolving Maturity Date. At the time of
sending such notice, the Borrower (in consultation with the Administrative Agent) shall specify the time period within which each existing Revolving Lender is requested to respond (which shall in no event be less than ten (10) Business Days
from the date of delivery of such notice to the existing Revolving Lenders). Any additional Revolving Commitments and Revolving Loans provided under this Section 2.5 shall have terms identical to the Revolving Commitments and Revolving
Loans existing on the Closing Date, except for fees payable to Revolving Lenders providing Revolving Commitments under this Section 2.5; provided that any fees paid pursuant to this Section 2.5(a) with respect to a new
Revolving Commitment cannot be more than 0.50% higher than the percentage paid to Extending Lenders on the Fourth Amendment Effective Date (it being understood that additional fees may be paid to existing Revolving Lenders to the extent necessary to
satisfy such requirement). 
 (b) Revolving Lender Elections to Increase. Each existing Revolving Lender shall notify the
Administrative Agent within such time period whether or not it agrees to increase its Revolving Commitment and, if so, whether by an amount equal to, greater than, or less than its Commitment Percentage of such requested increase. Any Lender not
responding within such time period shall be deemed to have declined to increase its Revolving Commitment. 
 (c) Notification by
Administrative Agent; Additional Lenders. The Administrative Agent shall notify the Borrower of the existing Revolving Lenders’ responses to the request made hereunder. To achieve the full amount of a requested increase and subject to the
approval of the Administrative Agent, the Issuing Lender and the Swingline Lender (which approval shall not be unreasonably withheld), the Borrower may also invite additional Eligible Assignees to become Revolving Lenders (such Eligible Assignees,
together with the existing Revolving Lenders agreeing to increase their Revolving Commitment, the “Incremental Lenders”) pursuant to a joinder agreement in form and substance reasonably satisfactory to the Administrative Agent and
its counsel and the Borrower. 
 (d) Effective Date and Allocations. If the Revolving Commitments are increased in accordance with
this Section, the Administrative Agent and the Borrower shall determine the effective date (the “Increase Effective Date”) and the final allocation of such increase. The Administrative Agent shall promptly notify the Borrower and
the Incremental Lenders of the final allocation of such increase and the Increase Effective Date. 
  

 5 

 (e) Conditions to Effectiveness of Increase. As a condition precedent to such increase, the
Borrower shall deliver to the Administrative Agent (i) a certificate of each Credit Party dated as of the Increase Effective Date signed by an Executive Officer of such Credit Party (A) certifying and attaching the resolutions adopted by
such Credit Party approving or consenting to such increase, and (B) in the case of the Borrower, certifying that, before and after giving effect to such increase, (x) the representations and warranties contained in Section 6 and the
other Credit Documents are true and correct in all material respects on and as of the Increase Effective Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and
correct in all material respects as of such earlier date, (y) the Borrower shall have delivered to the Administrative Agent an officer’s certificate demonstrating that, upon giving effect to the increase of the Revolving Committed Amount
(assuming the full amount of such increase was drawn) on a pro forma basis, no Default or Event of Default would exist as the result of a violation of Section 7.11(a) or Section 7.11(b) and (z) no Default or Event of
Default exists and (ii) favorable opinions of counsel to the Credit Parties, all in form, content and scope reasonably satisfactory to the Administrative Agent. The Borrower shall prepay any Revolving Loans outstanding on the Increase Effective
Date (and pay any additional amounts required pursuant to Section 3.12) to the extent necessary to keep the outstanding Revolving Loans ratable with any revised Commitment Percentages arising from any nonratable increase in the Revolving
Commitments under this Section. 
 (f) Revolving Notes. Upon the request of any Incremental Lender made through the Administrative
Agent, the Borrower shall execute and deliver to such Incremental Lender (through the Administrative Agent) a promissory note, substantially in the form of Exhibit 2.1(e), which shall evidence such Incremental Lender’s Revolving
Commitment in addition to such accounts or records. 
 SUBPART 2.5 Amendments to Section 3.5. 
 (a) A new clause (d) is hereby added to Section 3.5 of the Existing Credit Agreement to read as follows: 
 (d) Utilization Spread. The Borrower shall pay to the Administrative Agent for the account of each Revolving Lender that holds an
Extended Revolving Commitment, a utilization spread (the “Utilization Spread”) at the per annum rate equal to the Utilization Spread set forth in the pricing grid set forth below (based on the Leverage Ratio) times the daily
outstanding principal amount of all Revolving Loans and LOC Obligations funded or participated in by such Revolving Lender attributable to such Revolving Lender’s Extended Revolving Commitment: 
  

						
	 Pricing
Level
	 	 Leverage Ratio
	  	Utilization
Spread for
Extended
Revolving
Commitments	 
	 I
	 	 Less than or equal to 2.25
	  	2.00	%
	 II
	 	 Less than or equal to 2.75 but greater than 2.25
	  	2.25	%
	 III
	 	 Greater than 2.75
	  	2.50	%

  

 6 

 The Utilization Spread shall be due and payable quarterly in arrears on the last Business Day of each of
March, June, September and December, commencing June 30, 2009, and on the Extended Revolving Maturity Date. 
 (b) A new
clause (e) is hereby added to Section 3.5 of the Existing Credit Agreement to read as follows: 
 (e) Extension
Unused Fee. The Borrower shall pay to the Administrative Agent for the account of each Revolving Lender that holds an Extended Revolving Commitment a fee (the “Extension Unused Fee”) on the Unused Revolving Committed Amount
computed at a per annum rate for each day during the applicable Extension Unused Fee Calculation Period (as defined below) at a rate set forth in the table below: 
  

						
	 Pricing
Level
	 	 Leverage Ratio
	  	Extension
Unused Fee
for Extended
Revolving
Commitments	 
	 I
	 	 Less than or equal to 2.25
	  	0.125	%
	 II
	 	 Less than or equal to 2.75 but greater than 2.25
	  	0.125	%
	 III
	 	 Greater than 2.75
	  	0.250	%

 The Extension Unused Fee shall commence to accrue on the Fourth Amendment Effective Date and shall
be due and payable in arrears on the last Business Day of each March, June, September and December (and on any date that the Revolving Committed Amount is reduced and on the Extended Revolving Maturity Date) for the immediately preceding quarter (or
portion thereof) (each such quarter or portion thereof for which the Extension Unused Fee is payable hereunder being herein referred to as an “Extension Unused Fee Calculation Period”), beginning with the first of such dates to
occur after the Fourth Amendment Effective Date. 
 SUBPART 2.6 Amendment to Section 3.14. The first sentence of
Section 3.14 of the Existing Credit Agreement is hereby amended and restated in its entirety to read as follows: 
 Except with respect to Cash Collateral held by the Issuing Lender or the Swingline Lender, the Lenders agree among themselves that, in the event that any Lender shall obtain payment in respect of any Loan, LOC Obligations or any other
obligation owing to such Lender under this Credit Agreement through the exercise of a right of setoff, banker’s lien or counterclaim, or pursuant to a secured claim under Section 506 of Title 11 of the United States Code or other security
or interest arising from, or in lieu of, such secured claim, received by such Lender under any applicable bankruptcy, insolvency or other similar law or otherwise, or by any other means, in excess of its pro rata share of such payment as provided
for in this Credit 

  

 7 

 
Agreement, such Lender shall promptly purchase from the other Lenders a Participation Interest in such Loans, LOC Obligations and other obligations in such
amounts, and make such other adjustments from time to time, as shall be equitable to the end that all Lenders share such payment in accordance with their respective ratable shares as provided for in this Credit Agreement. 
 SUBPART 2.7 Amendment to Section 3.17. Section 3.17 of the Existing Credit Agreement is hereby amended by replacing each
reference to “a Defaulting Lender” with “an Impacted Lender”. 
 SUBPART 2.8 Amendments to
Section 7.11. 
 (a) Section 7.11(a) of the Existing Credit Agreement is hereby amended and restated in its entirety to read as
follows: 
 (a) Leverage Ratio. The Credit Parties shall not permit the Leverage Ratio as of the last day of any fiscal
quarter of the Consolidated Parties to be greater than: 
  

									
	 Fiscal Year
	  	 March 31
	  	June 30	  	September 30	  	December 31
	 2009
	  	2.00 to 1.0	  	3.00 to 1.0	  	3.00 to 1.0	  	3.00 to 1.0
	 2010
	  	3.00 to 1.0	  	2.75 to 1.0	  	2.50 to 1.0	  	2.50 to 1.0
	 2011 and thereafter
	  	2.25 to 1.0	  	2.25 to 1.0	  	2.00 to 1.0	  	2.00 to 1.0

 (b) A new Section 7.11(c) is hereby added to the Existing Credit Agreement to read as
follows: 
 (c) Minimum Consolidated Adjusted EBITDA. The Credit Parties shall not permit the Consolidated Adjusted
EBITDA as of the last day of any fiscal quarter of the Consolidated Parties to be less than $45,000,000. 
 SUBPART 2.9 Amendment
to Section 11.3. Section 11.3 of the Existing Credit Agreement is hereby amended and restated in its entirety to read as follows: 
 11.3 Successors and Assigns. 
 (a) Successors and Assigns Generally. The provisions of this
Credit Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted hereby, except that neither the Borrower nor any other Credit Party may assign or otherwise transfer any of
its rights or obligations hereunder without the prior written consent of the Administrative Agent and each Lender and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an assignee in accordance
with the provisions of subsection (b) of this Section, (ii) by way of participation in accordance with the provisions of subsection (d) of this Section or (iii) by way of pledge or assignment of a security interest subject to the
restrictions of subsection (f) of this Section (and any other attempted assignment or transfer by any party hereto shall be null and void). Nothing in this Credit Agreement, expressed or implied, shall be construed to confer upon any Person
(other than the parties hereto, their respective successors and assigns permitted hereby, Participants to the 

  

 8 

 
extent provided in subsection (d) of this Section and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative
Agent, the Issuing Lender and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Credit Agreement. 
 (b) Assignments by Lenders. Any Lender may at any time assign to one or more Eligible Assignees all or a portion of its rights and obligations under this Credit Agreement (including all or a portion of its
Commitment and the Loans (including for purposes of this subsection (b), participations in LOC Obligations and in Swingline Loans) at the time owing to it); provided that any such assignment shall be subject to the following conditions:

 (i) Minimum Amounts. 
 (A) in the case of an assignment of the entire remaining amount of the assigning Lender’s Commitment and the Loans at the time owing to it or in the case of an assignment to a Lender, an Affiliate of a Lender or
an Approved Fund, no minimum amount need be assigned; and 
 (B) in any case not described in subsection (b)(i)(A) of this
Section, the aggregate amount of the Commitment (which for this purpose includes Loans outstanding thereunder) or, if the Commitment is not then in effect, the principal outstanding balance of the Loans of the assigning Lender subject to each such
assignment, determined as of the date the Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent or, if “Trade Date” is specified in the Assignment and Assumption, as of the Trade Date, shall not
be less than $5,000,000, in the case of any assignment in respect of the Revolving Commitments and Revolving Loans, or $1,000,000, in the case of any assignment in respect of the Tranche B Loan unless each of the Administrative Agent and, so long as
no Event of Default has occurred and is continuing, the Borrower otherwise consents (each such consent not to be unreasonably withheld or delayed); provided, however, that concurrent assignments to members of an Assignee Group and
concurrent assignments from members of an Assignee Group to a single Eligible Assignee (or to an Eligible Assignee and members of its Assignee Group) will be treated as a single assignment for purposes of determining whether such minimum amount has
been met. 
 (ii) Proportionate Amounts. Each partial assignment shall be made as an assignment of a proportionate part
of all the assigning Lender’s rights and obligations under this Credit Agreement with respect to the Loans or the Commitment assigned, except that this clause (ii) shall not (A) apply to the Swingline Lender’s rights and
obligations in respect of Swingline Loans or (B) prohibit any Lender from assigning all or a portion of its rights and obligations among separate facilities on a non-pro rata basis; 
  

 9 

 (iii) Required Consents. No consent shall be required for any assignment except to
the extent required by subsection (b)(i)(B) of this Section and, in addition: 
 (A) the consent of the Borrower (such
consent not to be unreasonably withheld or delayed) shall be required unless (1) an Event of Default has occurred and is continuing at the time of such assignment or (2) such assignment is to a Lender, an Affiliate of a Lender or an
Approved Fund; 
 (B) the consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed) shall
be required for assignments in respect of (1) the Revolving Commitment if such assignment is to a Person that is not a Lender with a Revolving Commitment and (2) any Tranche B Loan to a Person that is not a Lender, an Affiliate of a Lender
or an Approved Fund; 
 (C) the consent of the Issuing Lender (such consent not to be unreasonably withheld or delayed) shall
be required for any assignment that increases the obligation of the assignee to participate in exposure under one or more Letters of Credit (whether or not then outstanding); and 
 (D) the consent of the Swingline Lender (such consent not to be unreasonably withheld or delayed) shall be required for any assignment in
respect of the Revolving Commitment. 
 (iv) Assignment and Assumption. The parties to each assignment shall execute
and deliver to the Administrative Agent an Assignment and Assumption, together with a processing and recordation fee in the amount of $3,500; provided, however, that the Administrative Agent may, in its sole discretion, elect to waive
such processing and recordation fee in the case of any assignment. The assignee, if it is not a Lender, shall deliver to the Administrative Agent an administrative questionnaire in form and substance acceptable to the Administrative Agent.

 (v) No Assignment to Borrower. No such assignment shall be made to the Borrower or any of the Borrower’s
Affiliates or Subsidiaries. 
 (vi) No Assignment to Natural Persons. No such assignment shall be made to a natural
person. 
 Subject to acceptance and recording thereof by the Administrative Agent pursuant to subsection (c) of this Section, from and
after the effective date specified in each Assignment and Assumption, the Eligible Assignee thereunder shall be a party to this Credit Agreement and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and
obligations of a Lender under this Credit Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Credit Agreement (and, in the case
of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Credit Agreement, such Lender shall cease to be a party hereto) but shall continue to be entitled to the benefits of Sections 3.9,
3.11, 3.12, and 11.5 with 

  

 10 

 
respect to facts and circumstances occurring prior to the effective date of such assignment. Upon request, the Borrower (at its expense) shall execute and
deliver a Note to the assignee Lender. Any assignment or transfer by a Lender of rights or obligations under this Credit Agreement that does not comply with this subsection shall be treated for purposes of this Credit Agreement as a sale by such
Lender of a participation in such rights and obligations in accordance with subsection (d) of this Section. 
 (c)
Register. The Administrative Agent, acting solely for this purpose as an agent of the Borrower, shall maintain at the Administrative Agent’s office a copy of each Assignment and Assumption delivered to it and a register for the
recordation of the names and addresses of the Lenders, and the Commitments of, and principal amounts of the Loans and LOC Obligations owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries
in the Register shall be conclusive, and the Borrower, the Administrative Agent and the Lenders may treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Credit
Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the Borrower and any Lender, at any reasonable time and from time to time upon reasonable prior notice. 
 (d) Participations. Any Lender may at any time, without the consent of, or notice to, the Borrower or the Administrative Agent,
sell participations to any Person (other than a natural person or the Borrower or any of the Borrower’s Affiliates or Subsidiaries) (each, a “Participant”) in all or a portion of such Lender’s rights and/or obligations
under this Credit Agreement (including all or a portion of its Commitment and/or the Loans (including such Lender’s participations in LOC Obligations and/or Swingline Loans) owing to it); provided that (i) such Lender’s
obligations under this Credit Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (iii) the Borrower, the Administrative Agent, the
Lenders and the Issuing Lender shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Credit Agreement. 
 Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce
this Credit Agreement and to approve any amendment, modification or waiver of any provision of this Credit Agreement; provided that such agreement or instrument may provide that such Lender will not, without the consent of the Participant,
agree to any amendment, waiver or other modification described in the first proviso to Section 11.6 that affects such Participant. Subject to subsection (e) of this Section, the Borrower agrees that each Participant shall be
entitled to the benefits of Sections 3.9, 3.11 and 3.12 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to subsection (b) of this Section. To the extent permitted by law, each
Participant also shall be entitled to the benefits of Section 11.2 as though it were a Lender, provided such Participant agrees to be subject to Section 3.14 as though it were a Lender. 
  

 11 

 (e) Limitations upon Participant Rights. A Participant shall not be entitled to
receive any greater payment under Section 3.9 or 3.11 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such
Participant is made with the Borrower’s prior written consent. A Participant that would be a Lender that is not a United States person under Section 7701(a)(30) of the Code if it were a Lender shall not be entitled to the benefits of
Section 3.11 unless the Borrower is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Borrower, to comply with Section 3.11(d) as though it were a Lender. 

(f) Certain Pledges. Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under
this Credit Agreement (including under its Note, if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank; provided that no such pledge or assignment shall release such
Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 
 (g) Resignation as Issuing Lender or Swingline Lender after Assignment. Notwithstanding anything to the contrary contained herein, if at any time Bank of America assigns all of its Revolving Commitment and Revolving Loans pursuant to
subsection (b) above, Bank of America may, (i) upon 30 days’ notice to the Borrower and the Lenders, resign as Issuing Lender and/or (ii) upon 30 days’ notice to the Borrower, resign as Swingline Lender. In the event of any
such resignation as Issuing Lender or Swingline Lender, the Borrower shall be entitled to appoint from among the Lenders a successor Issuing Lender or Swingline Lender hereunder with such Lender’s consent; provided, however, that
no failure by the Borrower to appoint any such successor shall affect the resignation of Bank of America as Issuing Lender or Swingline Lender, as the case may be. If Bank of America resigns as Issuing Lender, it shall retain all the rights, powers,
privileges and duties of the Issuing Lender hereunder with respect to all Letters of Credit outstanding as of the effective date of its resignation as Issuing Lender and all LOC Obligations with respect thereto (including the right to require the
Lenders to make Base Rate Loans or fund risk participations in Unreimbursed Amounts pursuant to Section 2.2(c)). If Bank of America resigns as Swingline Lender, it shall retain all the rights of the Swingline Lender provided for
hereunder with respect to Swingline Loans made by it and outstanding as of the effective date of such resignation, including the right to require the Lenders to make Base Rate Loans or fund risk participations in outstanding Swingline Loans pursuant
to Section 2.3(b). Upon the appointment of a successor Issuing Lender and/or Swingline Lender, (a) such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring Issuing
Lender or Swingline Lender, as the case may be, and (b) the successor Issuing Lender shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements
satisfactory to Bank of America to effectively assume the obligations of Bank of America with respect to such Letters of Credit. 
 SUBPART 2.10 Replacement of Schedule 2.1(a). Schedule 2.1(a) of the Existing Credit Agreement is hereby deleted in its entirety and a new schedule in the form of Schedule 2.1(a) attached hereto is substituted
therefor. 
 SUBPART 2.11 Replacement of Exhibit 11.3(b). Exhibit 11.3(b) of the Existing Credit Agreement is hereby
deleted in its entirety and a new exhibit in the form of Exhibit 11.3(b) attached hereto is substituted therefor. 
  

 12 

 PART 3 
 CONDITIONS TO EFFECTIVENESS 
 SUBPART 3.1 Fourth Amendment Effective Date. This
Amendment shall be and become effective as of the date hereof (the “Fourth Amendment Effective Date”) when all of the conditions set forth in this Part 3 shall have been satisfied, and thereafter this Amendment shall be
known, and may be referred to, as the “Fourth Amendment”. 
 SUBPART 3.2 Execution of Counterparts of
Amendment. The Administrative Agent shall have received counterparts of this Amendment, which collectively shall have been duly executed on behalf of each of the Borrower, the Parent, the Subsidiary Guarantors, the Requisite Lenders, Lenders
(other than Defaulting Lenders) holding in the aggregate at least a majority of the Revolving Commitments and the Administrative Agent. 
 SUBPART 3.3 Corporate Documents. Receipt by the Administrative Agent of the following: 
 (i)
Charter Documents. Copies of the articles or certificates of incorporation or other charter documents of each Credit Party certified to be true and complete as of a recent date by the appropriate Governmental Authority of the state or other
jurisdiction of its incorporation and certified by a secretary or assistant secretary of such Credit Party to be true and correct as of the Fourth Amendment Effective Date. 
 (ii) Bylaws. A copy of the bylaws of each Credit Party certified by a secretary or assistant secretary of such Credit Party to be
true and correct as of the Fourth Amendment Effective Date. 
 (iii) Resolutions. Copies of resolutions of the Board of
Directors of each Credit Party approving and adopting the Credit Documents to which it is a party, the transactions contemplated therein and authorizing execution and delivery thereof, certified by a secretary or assistant secretary of such Credit
Party to be true and correct and in force and effect as of the Fourth Amendment Effective Date. 
 (iv) Good Standing.
Copies of (A) certificates of good standing, existence or its equivalent with respect to each Credit Party certified as of a recent date by the appropriate Governmental Authorities of the state or other jurisdiction of incorporation and the
state or other jurisdiction of the chief executive office and principal place of business and (B) to the extent available, a certificate indicating payment of all corporate or comparable franchise taxes certified as of a recent date by the
appropriate governmental taxing authorities. 
 (v) Incumbency. An incumbency certificate of each Credit Party
certified by a secretary or assistant secretary to be true and correct as of the Fourth Amendment Effective Date. 
 SUBPART 3.4
Opinions of Counsel. The Administrative Agent shall have received, in each case dated as of the Fourth Amendment Effective Date: 
 (i) a legal opinion of Paul, Weiss, Rifkind, Wharton & Garrison, in form and substance reasonably satisfactory to the Administrative Agent; 
  

 13 

 (ii) a legal opinion of special Nevada counsel for the Borrower, in form and substance
reasonably satisfactory to the Administrative Agent; 
 (iii) a legal opinion of special California counsel with respect to
Merritt, Hawkins & Associates, in form and substance reasonably satisfactory to the Administrative Agent; and 
 (iv)
a legal opinion of special Texas counsel with respect to The MHA Group, Inc., MHA Allied Consulting, Inc., Med Travelers, Inc. and RN Demand, Inc., in form and substance reasonably satisfactory to the Administrative Agent. 
 SUBPART 3.5 Officer’s Certificate. The Administrative Agent shall have received a certificate or certificates executed by an Executive
Officer of the Borrower as of the Fourth Amendment Effective Date, in form and substance reasonably satisfactory to the Administrative Agent, stating that immediately after giving effect to the Amendment, (i) no Default or Event of Default
exists, (ii) all representations and warranties contained herein and in the other Credit Documents are true and correct in all material respects as of the Fourth Amendment Effective Date (except for those which expressly relate to an earlier
date, in which case, they were true and correct in all material respects as of such earlier date) and (iii) the Credit Parties, on a consolidated basis, are Solvent. 
 SUBPART 3.6 Fees and Expenses. The Administrative Agent shall have received from the Borrower (i) the aggregate amount of fees and
expenses payable to the Administrative Agent and Banc of America Securities LLC in connection with the consummation of the transactions contemplated hereby, (ii) for the account of each Lender approving this Amendment by 5:00 p.m. Eastern Time
on May 6, 2009, an amendment fee (as set forth in that certain Engagement Letter dated as of April 15, 2009 by and between the Borrower, Bank of America, N.A. and Banc of America Securities LLC) and on such Lender’s Revolving
Commitment and/or outstanding Tranche B Loans, as applicable and (iii) all reasonable and documented out-of-pocket costs and expenses of the Administrative Agent in connection with the preparation, execution and delivery of this Amendment,
including without limitation the reasonable fees and expenses of Moore & Van Allen PLLC, special counsel to the Administrative Agent. 
 PART 4 
 MISCELLANEOUS 
 SUBPART 4.1 Representations and Warranties. The Borrower hereby represents and warrants to the Administrative Agent and the Lenders that, after giving effect to this Amendment, (a) no Default or
Event of Default exists under the Existing Credit Agreement, after giving effect to this Amendment and (b) the representations and warranties set forth in Section 6 of the Existing Credit Agreement are, subject to the limitations set forth
therein, true and correct in all material respects as of the date hereof (except for those which expressly relate to an earlier date, in which case, they were true and correct in all material respects as of such earlier date). 
 SUBPART 4.2 Cross-References. References in this Amendment to any Part or Subpart are, unless otherwise specified, to such Part or Subpart
of this Amendment. 
  

 14 

 SUBPART 4.3 Instrument Pursuant to Existing Credit Agreement. This Amendment is executed
pursuant to the Existing Credit Agreement and shall (unless otherwise expressly indicated therein) be construed, administered and applied in accordance with the terms and provisions of the Existing Credit Agreement. 
 SUBPART 4.4 References in Other Credit Documents. At such time as this Amendment shall become effective pursuant to the terms of Subpart
3.1, all references to the “Credit Agreement” shall be deemed to refer to the Existing Credit Agreement as amended by this Amendment. 
 SUBPART 4.5 Counterparts. This Amendment may be executed by the parties hereto in several counterparts, each of which shall be deemed to be an original and all of which shall constitute together but one and the same agreement.
Delivery of executed counterparts of the Amendment by facsimile or other electronic transmission shall be effective as an original and shall constitute a representation that an original shall be delivered upon the request of the Administrative
Agent. 
 SUBPART 4.6 Governing Law. THIS AMENDMENT SHALL BE DEEMED TO BE A CONTRACT MADE UNDER AND GOVERNED BY THE LAWS OF THE
STATE OF NEW YORK. 
 SUBPART 4.7 Acknowledgment. The Guarantors acknowledge and consent to all of the terms and conditions of
this Amendment and agree that this Amendment does not operate to reduce or discharge the Guarantors’ obligations under the Existing Credit Agreement as amended by this Amendment or the other Credit Documents. The Guarantors further acknowledge
and agree that the Guarantors have no claims, counterclaims, offsets, or defenses to the Credit Documents and the performance of the Guarantors’ obligations thereunder or if the Guarantors did have any such claims, counterclaims, offsets or
defenses to the Credit Documents or any transaction related to the Credit Documents, the same are hereby waived, relinquished and released in consideration of the Lenders’ execution and delivery of this Amendment. Each Guarantor also hereby
confirms and agrees that notwithstanding the effectiveness of this Amendment, the Collateral Documents to which each of the undersigned is a party and all of the Collateral described therein do, and shall continue to, secure the payment of all of
the Credit Party Obligations. 
 SUBPART 4.8 Binding Effect. This Amendment, the Existing Credit Agreement as amended by this
Amendment and the other Credit Documents embody the entire agreement between the parties and supersede all prior agreements and understandings, if any, relating to the subject matter hereof. These Credit Documents represent the final agreement
between the parties and may not be contradicted by evidence of prior, contemporaneous or subsequent oral agreements of the parties. Except as expressly modified and amended in this Amendment, all the terms, provisions and conditions of the Credit
Documents shall remain unchanged and shall continue in full force and effect. 
 SUBPART 4.9 Successors and Assigns. This
Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. 
 SUBPART
4.10 General. Except as amended hereby, the Existing Credit Agreement and all other credit documents shall continue in full force and effect. 
  

 15 

 SUBPART 4.11 Severability. If any provision of this Amendment is determined to be illegal,
invalid or unenforceable, such provision shall be fully severable and the remaining provisions shall remain in full force and effect and shall be construed without giving effect to the illegal, invalid or unenforceable provisions. 
 [Remainder of Page Intentionally Left Blank] 
  

 16 

 IN WITNESS WHEREOF, the parties hereto have executed this Amendment to the Credit Agreement as of
the date first above written. 
  

									
	BORROWER:	 		 	AMN HEALTHCARE, INC.
					
		 		 		 	By:	 	/s/ David Dreyer
		 		 		 	Name:	 	David Dreyer
		 		 		 	Title:	 	Chief Financial Officer
			
	PARENT:	 		 	AMN HEALTHCARE SERVICES, INC.
					
		 		 		 	By:	 	/s/ David Dreyer
		 		 		 	Name:	 	David Dreyer
		 		 		 	Title:	 	Chief Financial Officer
			
	SUBSIDIARY GUARANTORS:	 		 	AMN SERVICES, INC. (formerly known as Worldview Healthcare, Inc.)
					
		 		 		 	By:	 	/s/ David Dreyer
		 		 		 	Name:	 	David Dreyer
		 		 		 	Title:	 	Chief Financial Officer
			
		 		 	O’GRADY-PEYTON INTERNATIONAL (USA), INC.
					
		 		 		 	By:	 	/s/ David Dreyer
		 		 		 	Name:	 	David Dreyer
		 		 		 	Title:	 	Chief Financial Officer
			
		 		 	INTERNATIONAL HEALTHCARE RECRUITERS, INC.
					
		 		 		 	By:	 	/s/ David Dreyer
		 		 		 	Name:	 	David Dreyer
		 		 		 	Title:	 	Chief Financial Officer

 FOURTH AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT 
 AMN HEALTHCARE, INC. 

			
	AMN STAFFING SERVICES, INC.
		
	By:	 	/s/ David Dreyer
	Name:	 	David Dreyer
	Title:	 	Chief Financial Officer
	
	THE MHA GROUP, INC.
		
	By:	 	/s/ David Dreyer
	Name:	 	David Dreyer
	Title:	 	Chief Financial Officer
	
	MERRITT, HAWKINS & ASSOCIATES
		
	By:	 	/s/ David Dreyer
	Name:	 	David Dreyer
	Title:	 	Chief Financial Officer
	
	MED TRAVELERS, INC.
		
	By:	 	/s/ David Dreyer
	Name:	 	David Dreyer
	Title:	 	Chief Financial Officer
	
	RN DEMAND, INC.
		
	By:	 	/s/ David Dreyer
	Name:	 	David Dreyer
	Title:	 	Chief Financial Officer
	
	STAFF CARE, INC.
		
	By:	 	/s/ David Dreyer
	Name:	 	David Dreyer
	Title:	 	Chief Financial Officer
	
	MHA ALLIED CONSULTING, INC.
		
	By:	 	/s/ David Dreyer
	Name:	 	David Dreyer
	Title:	 	Chief Financial Officer

 FOURTH AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT 
 AMN HEALTHCARE, INC. 

			
	MED TRAVELERS, LLC
		
	By:	 	/s/ David Dreyer
	Name:	 	David Dreyer
	Title:	 	Treasurer
	
	LIFEWORK, INC.
		
	By:	 	/s/ David Dreyer
	Name:	 	David Dreyer
	Title:	 	Chief Financial Officer
	
	PHARMACY CHOICE, INC.
		
	By:	 	/s/ David Dreyer
	Name:	 	David Dreyer
	Title:	 	Chief Financial Officer
	
	RX PRO HEALTH, INC.
		
	By:	 	/s/ David Dreyer
	Name:	 	David Dreyer
	Title:	 	Chief Financial Officer
	
	PLATINUM SELECT HEALTHCARE STAFFING, INC.
		
	By:	 	/s/ David Dreyer
	Name:	 	David Dreyer
	Title:	 	Chief Financial Officer

 [Signatures Continued] 
 FOURTH AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT 
 AMN HEALTHCARE, INC.

									
	ADMINISTRATIVE AGENT:	 		 	 BANK OF AMERICA, N. A., 
 in
its capacity as Administrative Agent

					
		 		 		 	By:	 	/s/ Alysa Trakas
		 		 		 	Name:	 	Alysa Trakas
		 		 		 	Title:	 	Vice President
			
	LENDERS:	 		 	 BANK OF AMERICA, N. A., 
 in
its capacity as Lender, Issuing Lender and Swingline Lender

					
		 		 		 	By:	 	/s/ Alysa Trakas
		 		 		 	Name:	 	Alysa Trakas
		 		 		 	Title:	 	Vice President

 [Signatures Continued] 
 FOURTH AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT 
 AMN HEALTHCARE, INC. 

			
	 
		
	By:	 	 
	Name:	 	 
	Title:	 	 

 FOURTH AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT 
 AMN HEALTHCARE, INC. 

 SCHEDULE 2.1(a) 
 Lenders and Commitments 
  

													
	 Lender
	  	Non-Extended
Revolving
Commitment	  	Extended
Revolving
Commitment	  	Total Revolving
Commitment	  	Revolving
Commitment
Percentage	 
	 BANK OF AMERICA, NA
	  	$	0	  	$	17,500,000	  	$	17,500,000	  	23.333333334	%
	 BANK OF THE WEST
	  	$	0	  	$	10,000,000	  	$	10,000,000	  	13.333333333	%
	 GENERAL ELECTRIC CAPITAL CORPORATION
	  	$	0	  	$	17,500,000	  	$	17,500,000	  	23.333333333	%
	 ING CAPITAL LLC
	  	$	0	  	$	15,000,000	  	$	15,000,000	  	20.000000000	%
	 UNION BANK, N.A.
	  	$	0	  	$	15,000,000	  	$	15,000,000	  	20.000000000	%
	 Total:
	  	$	0	  	$	75,000,000	  	$	75,000,000	  	100.0000000000	%

 EXHIBIT 11.3(b) 
 FORM OF ASSIGNMENT AND ASSUMPTION 
 This Assignment and Assumption (this “Assignment and
Assumption”) is dated as of the Effective Date set forth below and is entered into by and between [Insert name of Assignor] (the “Assignor”) and [Insert name of Assignee] (the “Assignee”).
Capitalized terms used but not defined herein shall have the meanings given to them in the Credit Agreement identified below (the “Credit Agreement”), receipt of a copy of which is hereby acknowledged by the Assignee. The Standard
Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by reference and made a part of this Assignment and Assumption as if set forth herein in full. 
 For an agreed consideration, the Assignor hereby irrevocably sells and assigns to the Assignee, and the Assignee hereby irrevocably purchases and assumes
from the Assignor, subject to and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the Effective Date inserted by the Administrative Agent as contemplated below (i) all of the Assignor’s rights and
obligations as a Lender under the Credit Agreement and any other documents or instruments delivered pursuant thereto to the extent related to the amount and percentage interest identified below of all of such outstanding rights and obligations of
the Assignor under the respective facilities identified below (including, without limitation, Letters of Credit and guarantees included in such facilities) and (ii) to the extent permitted to be assigned under applicable law, all claims, suits,
causes of action and any other right of the Assignor (in its capacity as a Lender) against any Person, whether known or unknown, arising under or in connection with the Credit Agreement, any other documents or instruments delivered pursuant thereto
or the loan transactions governed thereby or in any way based on or related to any of the foregoing, including, but not limited to, contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity related
to the rights and obligations sold and assigned pursuant to clause (i) above (the rights and obligations sold and assigned pursuant to clauses (i) and (ii) above being referred to herein collectively as, the “Assigned
Interest”). Such sale and assignment is without recourse to the Assignor and, except as expressly provided in this Assignment and Assumption, without representation or warranty by the Assignor. 
  

					
	1.	  	Assignor:	 	____________________________
			
	2.	  	Assignee:	 	____________________________
		  		 	[and is an Affiliate/Approved Fund of
                                ]
			
	3.	  	Borrower:	 	AMN Healthcare, Inc.
			
	4.	  	Administrative
Agent:	 	Bank of America, N.A., as the administrative agent under the Credit Agreement (the “Administrative Agent”)
			
	5.	  	Credit Agreement:    	 	The Second Amended and Restated Credit Agreement dated as of November 2, 2005 (as amended, modified, restated or supplemented from time to time) among AMN Healthcare, Inc., the Guarantors party
thereto, the Lenders party thereto, and Bank of America, N.A., as Administrative Agent

	6.	Assigned Interest: 

  

									
	 Facility
 Assigned
	 	 Aggregate
 Amount of
 Commitment/Loans
 for all Lenders1
	 	 Amount of
 Commitment/Loans
 Assigned
	 	 Percentage
 Assigned of
 Commitment/
 Loans2
	  	CUSIP
Number
					
	 Non-Extended Revolving Commitment
	 	(a)	 	(c)	 		  	
					
	 Extended Revolving Commitment
	 	(b)	 	(d)	 		  	
					
		 	 Box 1
  
 ___________
	 	 Box 2
  
 __________
	 	  
  
 __________
	  	
		 	(a) + (b)	 	(c) + (d)	 	Box 2 divided by Box 1 times 100	  	
					
	 Tranche B Loan
	 		 		 		  	

  

	 [7.
	 Trade Date:
                                ]3 

 Effective Date:
                         , 20     [TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH
SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.] 
 The terms set forth in this Assignment and Assumption are hereby agreed
to: 
  

			
	ASSIGNOR
	[NAME OF ASSIGNOR]
		
	By:	 	 
		 	Title:
	
	ASSIGNEE
	[NAME OF ASSIGNEE]
		
	By:	 	 
		 	Title:

  

	 1
	 Amounts in this column and in the column immediately to the right to be adjusted by the counterparties to take into
account any payments or prepayments made between the Trade Date and the Effective Date. 

  

	 2
	 Set forth, to at least 9 decimals, as a percentage of the Commitment/Loans of all Lenders thereunder.

  

	 3
	 To be completed if the Assignor and the Assignee intend that the minimum assignment amount is to be determined as of the
Trade Date. 

					
	Consented to and Accepted:	 	
		
	BANK OF AMERICA, N.A. as Administrative Agent	 	
			
	By:	 	 	 	
	Title:	 		 	
		
	Consented to:	 	
		
	BANK OF AMERICA, N.A., as Issuing Lender	 	
			
	By:	 	 	 	
	Title:	 		 	
		
	[AMN HEALTHCARE, INC.	 	
			
	By:	 	 	 	
	Name:	 	 	 	
	Title:	 	 	 	]4

  
  

	 4
	 So long as no Event of Default has occurred or if the Assignee is not an Eligible Assignee (i), (i) or
(ii) thereof. 

 ANNEX 1 
 STANDARD TERMS AND CONDITIONS FOR 
 ASSIGNMENT AND ASSUMPTION 
 1. Representations and Warranties. 
 1.1. Assignor. The Assignor (a) represents and warrants that (i) it is the legal and beneficial owner of the Assigned Interest, (ii) the Assigned Interest is free and clear of any lien, encumbrance or other adverse
claim and (iii) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby; and (b) assumes no responsibility with
respect to (i) any statements, warranties or representations made in or in connection with the Credit Agreement or any other Credit Document, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the
Credit Documents or any collateral thereunder, (iii) the financial condition of the Borrower, any of its Subsidiaries or Affiliates or any other Person obligated in respect of any Credit Document or (iv) the performance or observance by
the Borrower, any of its Subsidiaries or Affiliates or any other Person of any of their respective obligations under any Credit Document. 
 1.2. Assignee. The Assignee (a) represents and warrants that (i) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions
contemplated hereby and to become a Lender under the Credit Agreement, (ii) it meets all requirements of an Eligible Assignee under the Credit Agreement (subject to receipt of such consents as may be required under the Credit Agreement),
(iii) from and after the Effective Date, it shall be bound by the provisions of the Credit Agreement as a Lender thereunder and, to the extent of the Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it has
received a copy of the Credit Agreement, together with copies of the most recent financial statements delivered pursuant to Section 7.1 thereof, as applicable, and such other documents and information as it has deemed appropriate to make its
own credit analysis and decision to enter into this Assignment and Assumption and to purchase the Assigned Interest on the basis of which it has made such analysis and decision independently and without reliance on the Administrative Agent or any
other Lender, and (v) if it is a not a United States person under Section 7701(a)(30) of the Code, attached to the Assignment and Assumption is any documentation required to be delivered by it pursuant to the terms of the Credit Agreement,
duly completed and executed by the Assignee; and (b) agrees that (i) it will, independently and without reliance on the Administrative Agent, the Assignor or any other Lender, and based on such documents and information as it shall deem
appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit Documents, and (ii) it will perform in accordance with their terms all of the obligations which by the terms of the Credit
Documents are required to be performed by it as a Lender. 
 2. Payments. From and after the Effective Date, the Administrative Agent
shall make all payments in respect of the Assigned Interest (including payments of principal, interest, fees and other amounts) to the Assignor for amounts which have accrued to but excluding the Effective Date and to the Assignee for amounts which
have accrued from and after the Effective Date. 

 3. General Provisions. This Assignment and Assumption shall be binding upon, and inure to the
benefit of, the parties hereto and their respective successors and assigns. This Assignment and Assumption may be executed in any number of counterparts, which together shall constitute one instrument. Delivery of an executed counterpart of a
signature page of this Assignment and Assumption by telecopy shall be effective as delivery of a manually executed counterpart of this Assignment and Assumption. This Assignment and Assumption shall be governed by, and construed in accordance with,
the law of the State of New York.

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