Document:

Exhibit

SECOND AMENDMENT TO THIRD AMENDED AND RESTATED FINANCING AGREEMENT
This SECOND AMENDMENT TO THIRD AMENDED AND RESTATED FINANCING AGREEMENT (this “Amendment”) is made and entered into as of August 30, 2017 by and among Rise SPV, LLC, a Delaware limited liability company (the “US Term Note Borrower”), as the US Term Note Borrower, Elevate Credit International Ltd., a company incorporated under the laws of England with number 05041905 (the “UK Borrower”), as the UK Borrower, Elevate Credit Service, LLC, a Delaware limited liability company, as the US Last Out Term Note Borrower (“Elevate Credit” or the “US Last Out Term Note Borrower”), Elevate Credit, Inc., a Delaware corporation, as the US Convertible Term Note Borrower (“Elevate Credit Parent” or the “US Convertible Term Note Borrower”; the US Term Note Borrower, the UK Borrower, the US Last Out Term Note Borrower and the US Convertible Term Note Borrower, each a “Borrower” and collectively, the “Borrowers”), the Guarantors party hereto (such Guarantors, collectively with the Borrowers, the “Credit Parties”), and Victory Park Management, LLC, as administrative agent and collateral agent for the Lenders and the Holders (in such capacity, the “Agent”).  Capitalized terms used and not otherwise defined herein shall have the respective meanings ascribed to them in the Financing Agreement described below.
WHEREAS, the Credit Parties, the Lenders and the Agent are parties to that certain Third Amended and Restated Financing Agreement dated as of February 1, 2017 (as amended by that certain Acknowledgment of Partial Prepayment of US Convertible Term Notes and First Amendment to Third Amended and Restated Financing Agreement dated May 23, 2017 and as may be further amended, restated, supplemented or otherwise modified from time to time, the “Financing Agreement”); and
WHEREAS, the Credit Parties and the Agent desire to amend certain provisions of the Financing Agreement on the terms set forth herein.
NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration, the receipt, adequacy and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
1.Amendment to Financing Agreement.  Subject to the terms and conditions of this Amendment, including the satisfaction of the conditions precedent set forth in Section 2 hereof, the Financing Agreement is amended as follows:
(a)The parties hereto hereby agree that (i) the aggregate outstanding principal balance of the Fourth Tranche US Last Out Term Notes on the date hereof is $25,000,000 and (ii) the aggregate outstanding principal balance of the US Convertible Term Notes on the date hereof is $10,050,000 (the “Existing US Convertible Term Notes”).  Notwithstanding anything in the Credit Agreement or any other Transaction Document to the contrary, effective as of January 30, 2018 (the “Note Conversion Date”), the aggregate outstanding principal balance of the Existing US Convertible Term Notes on such date shall be converted to, and constitute a part of the “Fourth Tranche US Last Out Term Notes” for all purposes under the Financing Agreement and the other Transaction Documents (the “Note Conversion” and such converted US Convertible Term Notes, the “Converted Fourth Tranche US Last Out Term Notes”), and after giving effect to the Note Conversion the aggregate outstanding principal balance of the Fourth Tranche US Last Out Term Notes on the Note Conversion Date shall be increased by the aggregate outstanding principal balance of the Existing US Convertible Term Notes on the Note Conversion Date and, for the avoidance of doubt, the aggregate outstanding principal balance of the US Convertible Term Notes on the Note Conversion Date shall be $0.00; provided, that notwithstanding the forgoing to the contrary, the Borrowers shall pay the Exit Premium (pro-rated for the outstanding principal balance of the Existing US Convertible Term Notes as of the Note Conversion Date prior to giving effect to the Note Conversion, it being agreed and understood that 

[****] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.

based on the outstanding principal balance of the Existing US Convertible Term Notes as of the date hereof, the amount of such pro-rated Exit Premium would be $2,010,000) in respect of the Existing US Convertible Term Notes to Agent on the Note Conversion Date.  Without limiting the generality of the foregoing, after giving effect to the Note Conversion the Converted Fourth Tranche US Last Out Term Notes shall (i) constitute Obligations under the Transaction Documents and have all of the benefits thereof, (ii) have all of the rights, remedies, privileges and protections applicable to the Fourth Tranche US Last Out Term Notes under the Financing Agreement and the other Transaction Documents, (iii) be secured by the Liens granted to the Agent under any Transaction Document, (iv) be evidenced by Fourth Tranche US Last Out Term Notes and (v) bear interest at rates and have all other terms otherwise applicable to the Fourth Tranche US Last Out Term Notes under the Financing Agreement.  After giving effect to the Note Conversion all references to the “Fourth Tranche US Last Out Term Notes” contained in the Financing Agreement or the other Transaction Documents shall be deemed to refer to the Fourth Tranche US Last Out Term Notes (including, but not limited to, the Converted Fourth Tranche US Last Out Term Notes).  Each Borrower hereby (x) represents, agrees and reaffirms that, to its knowledge, it has no defense, set off, claim or counterclaim against the Agent and the Lenders and the Holders with regard to its Obligations in respect of the Fourth Tranche US Last Out Term Notes (including, without limitation, the Converted Fourth Tranche US Last Out Term Notes) based in whole or in part upon facts, circumstances, actions or events existing on or prior to the Second Amendment Effective Date and (y) reaffirms its obligation to repay the Fourth Tranche US Last Out Term Notes (including, without limitation, the Converted Fourth Tranche US Last Out Term Notes) in accordance with the terms and provisions of the Financing Agreement and the other Transaction Documents.
(b)Section 1.1 of the Financing Agreement is hereby amended by, as applicable, (i) adding the following definitions thereto in appropriate alphabetical order or (ii) restating the applicable definitions therein in their entirety as set forth below:
“Commitments” means, collectively, each of the US Term Note Commitments, the UK Term Note Commitments (USD), the UK Term Note Commitments (GBP), the US Last Out Term Note Commitments, the Fourth Tranche US Last Out Term Note Commitments and the US Convertible Term Note Commitments.
“Current Consumer Loan” means, as of any date of determination, a Consumer Loan that is subject to a first priority Lien in favor of Agent and which does not have a principal payment that is greater than sixty (60) days past due (based on the original contractual payment schedule or terms therefor) on such date.
“Current Fourth Tranche US Last Out Term Note Interest Rate” means (x) on or prior to January 30, 2018, a rate equal to the greater of (a) eighteen percent (18%) per annum and (b) the sum of (i) the Base Rate (but not less than one percent (1%) per annum) plus (ii) seventeen percent (17%) per annum and (y) after January 30, 2018, a rate equal to the sum of (a) the Base Rate (but not less than one percent (1%) per annum) plus (b) thirteen percent (13%) per annum.
“Current UK Exchange Rate” means, as of any date of determination, (i) in the case of a conversion of UK Term Notes (USD) to UK Term Notes (GBP), the then prevailing exchange rate in effect on such date of determination to convert any amount denominated in Dollars into an amount denominated in Pounds Sterling, as determined by Agent in accordance with Section 1.6 hereof and (ii) in the case of a conversion of UK Term Notes (GBP) to UK Term Notes (USD), the then prevailing exchange rate in effect on such date of determination to convert any amount denominated in Pounds Sterling into an amount denominated in Dollars, as determined by Agent in accordance with Section 1.6 hereof.
“Current UK Interest Rate” means (i) on or prior to January 30, 2018, a rate equal to the sum of (a) the Base Rate plus (b) sixteen percent (16%) per annum and (ii) after January 30, 2018, a rate equal to the sum of (a) the Base Rate plus (b) fourteen percent (14%) per annum.

[****] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.

“First Out Notes” means collectively, the UK Term Notes and the US Term Notes. 
“Maturity Date” means the earlier of (a) (i) solely with respect to the US Term Notes, February 1, 2021; provided, that notwithstanding the foregoing to the contrary, the “Maturity Date” shall be deemed to be “August 13, 2018” solely for purposes of any US Term Notes held by VPC Investor Fund A, L.P.; provided, further, that notwithstanding the immediately preceding proviso to the contrary, in the event the Agent is able to (it being agreed that Agent shall have no obligation to) syndicate the US Term Notes held by VPC Investor Fund A, L.P. to one or more third-party lenders or holders, or arrange for one or more third party lenders or holders to acquire such US Term Notes, as the case may be, on or prior to August 13, 2018, the Maturity Date for such US Term Notes as issued to and held by such third-party lenders and/or holders shall be automatically extended to have the same “Maturity Date” as the other US Term Notes (i.e. February 1, 2021) and such third-party lenders and/or holders by their acquisition and acceptance of such US Term Notes from VPC Investor Fund A, L.P. shall be deemed to have consented to such extension, (ii) solely with respect to the UK Term Notes and Fourth Tranche US Last Out Term Notes, February 1, 2021 and (iii) solely with respect to the other Notes, January 30, 2018; and (b) such earlier date as the unpaid principal balance of all outstanding Notes becomes due and payable pursuant to the terms of this Agreement and the Notes.
“Maximum UK Term Note Commitment (GBP)” means £10,000,000 denominated in Pounds Sterling.
“Maximum UK Term Note Commitment (USD)” means $35,000,000 denominated in Dollars.
“Pounds Sterling” or “£” means the lawful money of the United Kingdom. 
“Prepayment Premium” means the premium to be paid in connection with certain prepayments of the Notes (other than US Convertible Term Notes which, for purposes of clarification, may not be prepaid prior to the Maturity Date in respect thereof, but shall be subject to the Exit Premium) pursuant to this Agreement, including pursuant to Section 2.3(a) and Section 2.3(b), but specifically excluding any mandatory prepayment pursuant to Sections 2.3(b)(ii), 2.3(b)(v), 2.3(b)(vi) or 2.3(b)(vii) (solely to the extent such excess required to be applied as a prepayment relates to a prepayment under Sections 2.3(b)(ii), 2.3(b)(v) or 2.3(b)(vi)). Other than in respect of the US Term Notes and Fourth Tranche US Last Out Term Notes (for which such prepayment premiums are set forth below) and the US Convertible Term Notes (which, for purposes of clarification, may not be prepaid prior to the Maturity Date in respect thereof), such prepayment premium shall be equal to, with respect to such prepayment to be made or made during any period set forth in the table below, the percentage set forth beside such period in such table of the aggregate principal amount of such Notes then prepaid or required to be prepaid:
	
		
	Prepayment Premium Table for all Notes (other than US Term Notes, UK Term Notes and Fourth Tranche US Last Out Term Notes) 

	Period
	Prepayment Premium

	After June 30, 2015 through and including December 31, 2016
	1.0%

	Thereafter
	None

Solely in respect of the US Term Notes, such prepayment premium shall be equal to, with respect to such prepayment to be made or made during any period set forth in the table below, the percentage set forth beside such period in such table of the aggregate principal amount of such Notes then prepaid or required to be prepaid (for the avoidance of doubt, it is agreed and understood that no prepayment premium shall be required with respect to the repayment in full of the US Term Notes held by VPC Investor Fund A, L.P. on the applicable 

[****] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.

Maturity Date therefor pursuant to, and in accordance with, the first proviso to clause (a)(i) of the definition of Maturity Date):
	
		
	Prepayment Premium Table for all US Term Notes

	Period
	Prepayment Premium

	After Third Restatement Closing Date through and including February 1, 2018
	10.0%

	After February 1, 2018 through and including February 1, 2019
	5.0%

	After February 1, 2019 through and including February 1, 2020
	3.0%

	Thereafter
	1.0%

Solely in respect of the UK Term Notes, such prepayment premium shall be equal to, with respect to such prepayment to be made or made during any period set forth in the table below, the percentage set forth beside such period in such table of the aggregate principal amount of such Notes then prepaid or required to be prepaid (for the avoidance of doubt, it is agreed and understood that no prepayment premium shall be required with respect to the repayment in full of the UK Term Notes held by VPC Investor Fund A, L.P. on the applicable Maturity Date therefor pursuant to, and in accordance with, the first proviso to clause (a)(ii) of the definition of Maturity Date):
	
		
	Prepayment Premium Table for all UK Term Notes

	Period
	Prepayment Premium

	After Second Amendment Effective Date through and including February 1, 2018
	10.0%

	After February 1, 2018 through and including February 1, 2019
	5.0%

	After February 1, 2019 through and including February 1, 2020
	3.0%

	Thereafter
	1.0%

Solely in respect of the Fourth Tranche US Last Out Term Notes, (a) with respect to any prepayment of the Fourth Tranche US Last Out Term Notes prior to January 30, 2018, such prepayment premium shall be equal to the Yield Maintenance Premium and (b) with respect to any prepayment of the Fourth Tranche US Last Out Term Notes (including, for the avoidance of doubt, any Converted Fourth Tranche US Last Out Term Notes) on or after January 30, 2018, such prepayment premium in respect of the Fourth Tranche US Last Out Term Notes shall thereafter be equal to the applicable percentage set forth beside the applicable period in the table below of the aggregate principal amount of such Fourth Tranche US Last Out Term Notes then prepaid or required to be prepaid: 
	
		
	Prepayment Premium Table for all Fourth Tranche US Last Out Term Notes

	Period
	Prepayment Premium

	February 1, 2018 through and including February 1, 2019
	10.0%

	After February 1, 2019 through and including February 1, 2020
	5.0%

	February 1, 2020 through February 1, 2021
	3.0%

“Second Amendment” means that certain Second Amendment dated the Second Amendment Effective Date by and among the Credit Parties and Agent.
“Second Amendment Effective Date” means August 30, 2017.

[****] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.

“Second Amendment Effective Date UK Exchange Rate” means the exchange rate to convert any amount denominated in Pounds Sterling into Dollars, as in effect on the Second Amendment Effective Date, which exchange rate for the avoidance of doubt is 1.285.
“UK Term Note Commitment (GBP)” has the meaning set forth in Section 2.1(b).
“UK Term Note Commitment (USD)” has the meaning set forth in Section 2.1(b).
“UK Term Notes” means each UK Term Note (USD) and each UK Term Note (GBP), and shall include each such UK Term Note (USD) or UK Term Note (GBP) delivered pursuant to any provision of this Agreement and each such UK Term Note (USD) or UK Term Note (GBP) delivered in substitution or exchange for, or otherwise in respect of, any other UK Term Note pursuant to any such provision. 
“UK Term Notes (GBP)” has the meaning set forth in Section 2.1(b).
“UK Term Notes (USD)” has the meaning set forth in Section 2.1(b).
(c)Section 2.1(b) of the Financing Agreement is hereby amended by restating it in its entirety as follows:
“(b) UK Term Notes.  The UK Borrower previously authorized and issued to the Lenders on the Original Restatement Closing Date senior secured term notes denominated in Dollars in the aggregate principal amount of the Maximum UK Commitment, dated the date of issue thereof, maturing on the Maturity Date (as defined prior to the effectiveness of the Second Amendment), bearing interest as provided in Section 2.2 below and in the form of Exhibit A-2 to the Original Financing Agreement and Exhibit A-2 hereto.  A portion of the Maximum UK Commitment under the UK Term Notes was previously advanced to the UK Borrower by the Lenders under the Original Financing Agreement or Second Amended and Restated Financing Agreement, as applicable, as is set forth opposite such Lender’s name in column four (4) of Section 2 (UK Term Notes) of the Schedule of Lenders attached hereto.  The UK Borrower acknowledges and agrees that, as of the Second Amendment Effective Date, immediately prior to giving effect to the transactions contemplated by the Second Amendment, the aggregate outstanding principal balance of the UK Term Notes is $22,800,000 (collectively, the “Existing UK Term Notes”).  The UK Borrower hereby (a) represents, warrants, agrees, covenants and reaffirms that it has no defense, set off, claim or counterclaim against the Agent, the Holders or the Lenders with regard to its Obligations under the UK Term Notes arising prior to the Second Amendment Effective Date and (b) reaffirms its obligation to repay the UK Term Notes in accordance with the terms and provisions of this Agreement and the other Transaction Documents.  For purposes of clarification, the entire outstanding principal balance of the Existing UK Term Notes as of the Second Amendment Effective Date shall be deemed to constitute a portion of the outstanding principal balance of the UK Term Notes from and after the Second Amendment Effective Date, without constituting a novation.  Effective as of the Second Amendment Effective Date, (a) $15,800,000 of the outstanding principal balance of the Existing UK Term Notes as of the Second Amendment Effective Date shall be converted into, and shall be deemed to constitute a portion of, the outstanding principal balance of the UK Term Notes (USD) denominated in Dollars from and after the Second Amendment Effective Date, which US Term Notes (USD) shall be dated the date of issue thereof, shall mature on the Maturity Date, shall bear interest as provided in Section 2.2 below and shall be in the form of Exhibit A-2(a) to this Agreement (the “UK Term Notes (USD)”), and (b) the remaining $7,000,000 of the outstanding principal balance of the Existing UK Term Notes as of the Second Amendment Effective Date shall be converted into (at the Second Amendment Effective Date UK 

[****] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.

Exchange Rate), and shall be deemed to constitute a portion of, the outstanding principal balance of the UK Term Notes (GBP) denominated in Pounds Sterling from and after the Second Amendment Effective Date, which UK Term Notes (GBP) shall be dated the date of issue thereof, shall mature on the Maturity Date, shall bear interest as provided in Section 2.2 below and shall be in the form of Exhibit A-2(b) to this Agreement (the “UK Term Notes (GBP)”), in each case, without constituting a novation.  The commitment of each applicable Lender to fund its pro rata share of draws under the UK Term Notes (USD) as of the Second Amendment Effective Date is set forth opposite such Lender’s name in column three (3) of Section 2(a) (UK Term Notes (USD)) of the Schedule of Lenders attached hereto (such amount as the same may be reduced or increased from time to time in accordance with this Agreement, being referred to herein as such Lender’s “UK Term Note Commitment (USD)”) and the aggregate outstanding principal amount of UK Term Notes (USD) of each applicable Lender immediately after giving effect to the transactions contemplated by the Second Amendment on the Second Amendment Effective Date is set forth opposite such Lender’s name in column four (4) of Section 2(a) (UK Term Notes (USD)) of the Schedule of Lenders attached hereto.  The commitment of each applicable Lender to fund its pro rata share of draws under the UK Term Notes (GBP) as of the Second Amendment Effective Date is set forth opposite such Lender’s name in column three (3) of Section 2(b) (US Term Notes (GBP)) of the Schedule of Lenders attached hereto (such amount as it may be reduced or increased from time to time in accordance with this Agreement, being referred to as such Lender’s “UK Term Note Commitment (GBP)”) (provided, that notwithstanding the foregoing to the contrary, at Agent’s election in its sole discretion, the UK Term Note Commitments (GBP) shall be funded in Dollars instead of Pounds Sterling and the applicable UK Term Notes (GBP) issued to the applicable Lenders shall be denominated in either Dollars or Pounds Sterling as elected by the applicable Lender) and the aggregate outstanding principal amount of UK Term Notes (GBP) of each applicable Lender immediately after giving effect to the transactions contemplated by the Second Amendment on the Second Amendment Effective Date is set forth opposite such Lender’s name in column four (4) of Section 2(b) (UK Term Notes (GBP)) of the Schedule of Lenders attached hereto. To the extent necessary to give effect to the provisions of the preceding sentence, (x) each Person who is a “Lender” under and as defined in the Financing Agreement prior to giving effect to the Second Amendment (each an “Existing Lender”), severally and not jointly, hereby agrees by their consent to Agent’s execution of the Second Amendment on the Second Amendment Effective Date to sell and to assign to each Lender hereunder that was not a “Lender” under the Financing Agreement prior to giving effect to the Second Amendment (each, a “New Lender”), without recourse, representation or warranty (except as set forth below), and each New Lender, severally and not jointly, hereby purchases and assumes from the Existing Lender, effective upon Agent’s execution of the Second Amendment on the Second Amendment Effective Date on its behalf, a percentage interest in the applicable Commitments in amounts required to give effect to the pro rata shares set forth in column three (3) of Section 2 of the Schedule of Lenders attached to the Second Amendment and (y) each Person who is a “Holder” under and as defined in the Financing Agreement prior to giving effect to the Second Amendment (each an “Existing Holder”), severally and not jointly, hereby agrees by their consent to Agent’s execution of the Second Amendment on the Second Amendment Effective Date to sell and to assign to each Holder hereunder that was not a “Holder” under the Financing Agreement prior to giving effect to the Second Amendment (each, a “New Holder”), without recourse, representation or warranty (except as set forth below), and each New Holder, severally and not jointly, hereby purchases and assumes from the Existing Holder, effective upon Agent’s execution of the Second Amendment on the Second Amendment Effective Date on its behalf, a percentage interest in the applicable UK Term Notes in amounts required to give effect to the pro rata shares set forth in column four (4) of Section 2 of the Schedule of Lenders attached to the Second Amendment.  The 

[****] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.

Lenders, severally and not jointly, hereby agree by their consent to Agent’s execution of the Second Amendment on the Second Amendment Effective Date, to effect such inter-Lender transfers in accordance with column three (3) of Section 2 of the Schedule of Lenders attached to the Second Amendment.  As a result of such assignments and acceptances, each Existing Lender is absolutely released from any of such obligations, covenants and agreements, to the extent of its assigned shares of the applicable Commitments and the applicable New Lenders hereby assume such obligations, covenants and agreements from such Existing Lenders.  The New Lenders and the Existing Lenders shall make all appropriate adjustments in payment for periods prior to the effectiveness of the assignment and acceptance described in this Section 2.1(b) by the Agent or with respect to the making of this assignment directly between themselves.  The Holders, severally and not jointly, hereby agree by their consent to Agent’s execution of the Second Amendment on the Second Amendment Effective Date, to effect such inter-Holder transfers in accordance with column four (4) of Section 2 of the Schedule of Lenders attached to the Second Amendment.  As a result of such assignments and acceptances, each Existing Holder is absolutely released from any of such obligations, covenants and agreements, to the extent of its assigned shares of the applicable UK Term Notes and the applicable New Holders hereby assume such obligations, covenants and agreements from such Existing Holders.  The New Holders and the Existing Holders shall make all appropriate adjustments in payment for periods prior to the effectiveness of the assignment and acceptance described in this Section 2.1(b) by the Agent or with respect to the making of this assignment directly between themselves.  The UK Borrower shall repay the outstanding principal balance of the UK Term Notes in full in cash on the Maturity Date, unless accelerated in accordance with Section 10.2 or redeemed or prepaid in accordance with Section 2.3.  Future draws under the UK Term Notes (USD) and UK Term Notes (GBP) shall be disbursed as the Borrower Representative shall direct on each borrowing date, upon the submission of such evidence as the Agent shall request to verify the satisfaction of the conditions set forth in Section 5.2 below (including, without limitation, a Borrowing Base Certificate delivered in accordance with Section 5.2(g) prior to such disbursement); provided, however, that, after giving effect to any such draw under the UK Term Notes, the aggregate principal amount of all (i) UK Term Notes (USD) shall not exceed the Maximum UK Term Note Commitment (USD), (ii) UK Term Notes (GBP) shall not exceed the Maximum UK Term Note Commitment (GBP), (iii) UK Term Notes shall not exceed the Maximum UK Commitment and (iv) First Out Notes shall not exceed the Maximum First Out Note Balance.  The Borrower Representative shall deliver to the Agent a Notice of Borrowing setting forth each requested draw not later than noon, Chicago time, on (A) the fifteenth (15th) day prior to the proposed borrowing date upon which the UK Borrower desires to make a draw under the UK Term Notes in an amount of $10,000,000 (or in the case of a requested draw denominated in Pounds Sterling, the Dollar Equivalent thereof) or less or (B) the thirtieth (30th) day prior to the proposed borrowing date upon which the UK Borrower desires to make a draw under the UK Term Notes in an amount of greater than $10,000,000 (or in the case of a requested draw denominated in Pounds Sterling, the Dollar Equivalent thereof), in each case, or such earlier date as shall be agreed to by the applicable Lenders; provided, further, however, that the Borrower Representative on behalf of the UK Borrower shall be entitled to deliver only two (2) Notices of Borrowing during each calendar month.  Each Notice of Borrowing required hereunder (i) shall be irrevocable, (ii) shall specify whether the proposed draw shall be under the UK Term Notes (USD) or the UK Term Notes (GBP), (iii) the amount of the proposed draw (which shall be in increments of not less than $100,000 (or in the case of a requested draw denominated in Pounds Sterling, the Dollar Equivalent thereof)), (iv) shall specify the proposed borrowing date for such proposed draw, which shall be a Permitted Draw Date and (v) shall specify wire transfer instructions in accordance with which such draw under the applicable UK Term Notes shall be funded.  Upon receipt of any such Notice of Borrowing, the Agent shall promptly 

[****] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.

notify each applicable Lender thereof and of the amount of such Lender’s pro rata share of the proposed borrowing under the UK Term Notes (determined on the basis of such Lender’s UK Term Note Commitment (USD) relative to the aggregate UK Term Note Commitment (USD) of all Lenders or such Lender’s UK Term Note Commitment (GBP) relative to the aggregate UK Term Note Commitment (GBP) of all Lenders, as the case may be) and, subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Credit Parties contained herein, each Lender holding a UK Term Note Commitment (USD) or UK Term Note Commitment (GBP), as applicable, shall fund its pro rata share of the proposed borrowing under the applicable UK Term Notes on the applicable Permitted Draw Date in immediately available funds in accordance with the terms of such Notice of Borrowing.  Notwithstanding anything to the contrary herein, for purposes of clarification, it is hereby agreed that during each calendar month there shall be only, and the Borrower Representative on behalf of the UK Borrower shall not be entitled to specify more than, two (2) Permitted Draw Dates.
In consideration for each applicable Lender’s commitment to fund its pro rata share of future draws under (a) the UK Term Notes (USD) in accordance with the terms of this Agreement, UK Borrower shall issue to each applicable Lender on the Second Amendment Effective Date, a UK Term Note (USD) in substantially the form attached hereto as Exhibit A-2(a), in the aggregate principal amount of such Lender’s UK Term Loan Commitment (USD) and (b) the UK Term Notes (GBP) in accordance with the terms of this Agreement, UK Borrower shall issue to each applicable Lender on the Second Amendment Effective Date, a UK Term Note (GBP) in substantially the form attached hereto as Exhibit A-2(b).
Notwithstanding anything in the Financing Agreement to the contrary, from and after the Second Amendment Effective Date, upon the mutual agreement of Agent and Borrower Representative in writing (which may be in the form of an e-mail), (i) all or any portion of the outstanding principal amount under any UK Term Notes (USD) may be converted into (at the Current UK Exchange Rate), and shall thereafter be deemed to constitute a portion of, the outstanding principal balance of the UK Term Notes (GBP) and (ii) all or any portion of the outstanding principal amount under any UK Term Notes (GBP) may be converted into (at the Current UK Exchange Rate), and shall thereafter be deemed to constitute a portion of, the outstanding principal balance of the UK Term Notes (USD) and, in each case, the UK Borrower shall promptly issue to the applicable Lenders replacement UK Term Notes (USD) and/or UK Term Notes (GBP) reflecting any such conversion.  For the avoidance of doubt and for purposes of clarification, the Maximum UK Commitment hereunder in respect of the UK Term Notes and the Current UK Interest Rate applicable to the UK Term Notes would be the same with or without the guarantees provided by the other Borrowers and other Credit Parties in respect of the UK Term Notes pursuant to this Agreement and the other Transaction Documents.”
(d)Section 2.3(b)(vi) of the Financing Agreement is hereby amended by restating it in its entirety as follows:
“(vi)    If at any time the then outstanding principal balance of (A) the US Term Notes shall exceed the Maximum US Term Note Commitment, (B) the UK Term Notes shall exceed the Maximum UK Commitment, (C) the UK Term Notes (USD) shall exceed the Maximum UK Term Notes Commitment (USD), (D) the UK Term Notes (GBP) shall exceed the Maximum UK Term Notes Commitment (GBP), (E) the US Last Out Term Notes shall exceed the Maximum US Last Out Term Note Commitment, (F) the Fourth Tranche US Last Out Term Notes shall exceed the Maximum Fourth Tranche US Last Out Term Note Commitment, (G) the US Convertible Term Notes shall exceed the 

[****] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.

Maximum US Convertible Term Note Commitment or (H) the First Out Notes shall exceed the Maximum First Out Note Balance, then in each case the applicable Borrower or Borrowers shall immediately prepay the applicable Notes as set forth in Section 2.3(e) in an amount sufficient to eliminate such excess.”
(e)Section 2.4 of the Financing Agreement is hereby amended by inserting the following language immediately after the first reference to “United States of America” therein:
“(provided, that payments of cash made in respect of the UK Term Notes (GBP) shall be made in lawful money of the United Kingdom)”
(f)Section 5.2(c) of the Financing Agreement is hereby amended by restating it in its entirety as follows:
“(c) After giving effect to such draw or issuance, as applicable, (i) the aggregate outstanding principal amount of the First Out Notes would not exceed the Maximum First Out Note Balance, (ii) with respect to a draw under the US Term Notes, the aggregate outstanding principal amount of the US Term Notes would not exceed the Maximum US Term Note Commitment, (iii) with respect to a draw under the UK Term Notes, the aggregate outstanding principal amount of the UK Term Notes would not exceed the Maximum UK Commitment, (iv) with respect to a draw under the UK Term Notes (USD), the aggregate outstanding principal amount of the UK Term Notes (USD) would not exceed the Maximum UK Term Notes Commitment (USD), (v) with respect to a draw under the UK Term Notes (GBP), the aggregate outstanding principal amount of the UK Term Notes (GBP) would not exceed the Maximum UK Term Notes Commitment (GBP), (vi) with respect to a draw under the US Last Out Term Notes, the aggregate outstanding principal amount of the US Last Out Term Notes would not exceed the Maximum US Last Out Term Note Commitment, (vii) with respect to a draw under the Fourth Tranche US Last Out Term Notes, the aggregate outstanding principal amount of the Fourth Tranche US Last Out Term Notes would not exceed the Maximum Fourth Tranche US Last Out Term Note Commitment and (viii) with respect to a draw under the US Convertible Term Notes, the aggregate outstanding principal amount of the US Convertible Term Notes would not exceed the Maximum US Convertible Term Note Commitment.”
(g)Exhibit A-2 to the Financing Agreement is hereby amended by replacing it in its entirety with Exhibits A-2(a) and A-2(b) attached hereto as Annex A.
(h)The Schedule of Lenders attached to the Financing Agreement is hereby amended by restating Section 2 thereof in its entirety with the new Section 2 thereto attached as Annex B hereto. 
2.Conditions Precedent.  This Amendment shall become effective upon the satisfaction in full of each of the following conditions:
(a)the Borrowers shall have executed and delivered, or caused to be delivered, to the Agent evidence satisfactory to the Agent that the Borrowers shall pay to the Agent on the date hereof (the “Second Amendment Effective Date”) all fees and other amounts due and owing thereon under this Amendment and the other Transaction Documents;
(b)(i) execution of this Amendment by the Credit Parties and the Agent (with the consent of the requisite Lenders and Holders) and (ii) Agent shall have received executed copies of the UK Term Notes (USD) and UK Term Notes (GBP) to be issued by UK Borrower to the applicable Lenders and Holders on the date hereof; 
(c)the representations and warranties of the Credit Parties contained herein and in the Financing Agreement shall be true and correct except to the extent such representations and warranties 

[****] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.

expressly relate to an earlier date, in which case such representations and warranties shall be true and correct as of such earlier date; and
(d)no Event of Default shall have occurred and be continuing or would result from the transaction contemplated hereby.
3.General Release.  In consideration of the Agent’s agreements contained in this Amendment, each Credit Party hereby irrevocably releases and forever discharge the Lenders, the Holders and the Agent and their affiliates, subsidiaries, successors, assigns, directors, officers, employees, agents, consultants, attorneys, managers, investment managers, principles and portfolio companies (each, a “Released Person”) of and from any and all claims, suits, actions, investigations, proceedings or demands, whether based in contract, tort, implied or express warranty, strict liability, criminal or civil statute or common law of any kind or character, known or unknown, which such Credit Party ever had or now has against Agent, any Lender, any Holder or any other Released Person which relates, directly or indirectly, to any acts or omissions of Agent, any Lender, any Holder or any other Released Person relating to the Financing Agreement or any other Transaction Document on or prior to the date hereof.
4.Representations and Warranties of the Credit Parties.  To induce the Agent to execute and deliver this Amendment, each Credit Party represents, warrants and covenants that:
(a)The execution, delivery and performance by each Credit Party of this Amendment and all documents and instruments delivered in connection herewith have been duly authorized by all necessary action required on its part, and this Amendment and all documents and instruments delivered in connection herewith are legal, valid and binding obligations of such Credit Party enforceable against such Credit Party in accordance with its terms except as such enforceability may be limited by general principles of equity or applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws relating to, or affecting generally, the enforcement of applicable creditors’ rights and remedies. 
(b)each of the representations and warranties set forth in the Transaction Documents is true and correct on and as of the date hereof as if made on the date hereof, except to the extent such representations and warranties expressly relate to an earlier date, in which case such representations and warranties shall be true and correct as of such earlier date, and each of the agreements and covenants in the Transaction Documents is hereby reaffirmed with the same force and effect as if each were separately stated herein and made as of the date hereof.
(c)Neither the execution, delivery and performance of this Amendment nor the consummation of the transactions contemplated hereby or thereby does or shall (i) result in a violation of any Credit Party’s certificate of incorporation, certificate of formation, bylaws, limited liability company agreement or other governing documents, or the terms of any Capital Stock or other Equity Interests of any Credit Party; (ii) conflict with, or constitute a breach or default (or an event which, with notice or lapse of time or both, would become a breach or default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture or instrument to which any Credit Party is a party; (iii) result in any “price reset” or other material change in or other modification to the terms of any Indebtedness, Equity Interests or other securities of any Credit Party; or (iv) result in a violation of any law, rule, regulation, order, judgment or decree.
(d)no Event of Default has occurred or is continuing under this Amendment or any other Transaction Document.
5.Ratification of Liability.  Each Credit Party, as debtor, grantor, pledgor, guarantor, assignor, or in other similar capacity in which such party grants liens or security interests in its properties or otherwise acts as an accommodation party or guarantor, as the case may be, under the Transaction Documents, hereby ratifies and reaffirms all of its payment and performance obligations and obligations to indemnify, contingent or otherwise, under each Transaction Document to which such party is a party, and each such party hereby ratifies and reaffirms its grant of liens on or security interests in its properties pursuant to such Transaction 

[****] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.

Documents to which it is a party as security for the obligations under or with respect to the Financing Agreement, the Notes and the other Transaction Documents, and confirms and agrees that such liens and security interests hereafter secure all of the obligations under the Transaction Documents, including, without limitation, all additional obligations hereafter arising or incurred pursuant to or in connection with this Amendment or any Transaction Document.  Each Credit Party further agrees and reaffirms that the Transaction Documents to which it is a party now apply to all obligations as modified hereby (including, without limitation, all additional obligations hereafter arising or incurred pursuant to or in connection with this Amendment or any Transaction Document).  Each such party (a) further acknowledges receipt of a copy of this Amendment and all other agreements, documents, and instruments executed or delivered in connection herewith, (b) consents to the terms and conditions of same, and (c) agrees and acknowledges that each of the Transaction Documents, as modified hereby, remains in full force and effect and is hereby ratified and confirmed.  Except as expressly provided herein, the execution of this Amendment shall not operate as a waiver of any right, power or remedy of any Lender, any Holder or the Agent, nor constitute a waiver of any provision of any of the Transaction Documents nor constitute a novation of any of the obligations under the Transaction Documents. 
6.Reference to and Effect Upon the Transaction Documents.
(a)Except as specifically amended hereby, all terms, conditions, covenants, representations and warranties contained in the Transaction Documents, and all rights of the Lenders, the Holders and the Agent and all of the obligations under the Transaction Documents, shall remain in full force and effect.  Each Credit Party hereby confirms that the Transaction Documents are in full force and effect, and that no Credit Party has any right of setoff, recoupment or other offset or any defense, claim or counterclaim with respect to any Transaction Document or the Credit Parties’ obligations thereunder.
(b)Except as expressly set forth herein, the execution, delivery and effectiveness of this Amendment and any consents or waivers set forth herein shall not directly or indirectly: (i) create any obligation to make any further loans or to defer any enforcement action after the occurrence of any Event of Default; (ii) constitute a consent or waiver of any past, present or future violations of any Transaction Document; (iii) amend, modify or operate as a waiver of any provision of any Transaction Document or any right, power or remedy of any Lender, any Holder or the Agent or (iv) constitute a course of dealing or other basis for altering any obligations under the Transaction Documents or any other contract or instrument.  Except as expressly set forth herein, each Lender, each Holder and the Agent reserve all of their rights, powers, and remedies under the Transaction Documents and applicable law. All of the provisions of the Transaction Documents, including, without limitation, the time of the essence provisions, are hereby reiterated, and if ever waived previously, are hereby reinstated.
(c)From and after the date hereof, (i) the term “Agreement” in the Financing Agreement, and all references to the Financing Agreement in any Transaction Document shall mean the Financing Agreement, as amended by this Amendment, and (ii) the term “Transaction Documents” defined in the Financing Agreement shall include, without limitation, this Amendment and any agreements, instruments and other documents executed or delivered in connection herewith.
7.Costs and Expenses.  In addition to, and not in lieu of, the terms of the Transaction Documents relating to the reimbursement of the Lenders’, the Holders’ and the Agent’s fees and expenses, the Credit Parties shall reimburse each Lender, each Holder and the Agent, as the case may be, promptly on demand for all fees, costs, charges and expenses, including the fees, costs and expenses of counsel and other expenses incurred in connection with this Amendment.
8.Governing Law; Jurisdiction.  All questions concerning the construction, validity, enforcement and interpretation of this Amendment shall be governed by the internal laws of the State of Delaware, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of Delaware or any other jurisdictions) that would cause the application of the laws of any jurisdictions other 

[****] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.

than the State of Delaware.  Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in Wilmington, Delaware, for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper.  Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof to such party at the address for such notices to it under this Amendment and agrees that such service shall constitute good and sufficient service of process and notice thereof.  Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law.
9.No Strict Construction.  The language used in this Amendment will be deemed to be the language chosen by the parties to express their mutual intent, and no rules of strict construction will be applied against any party.
10.Counterparts.  This Amendment may be executed in one or more counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument.  Signatures of the parties hereto transmitted by facsimile or by electronic media or similar means shall be deemed to be their original signature for all purposes.
11.Severability.  The invalidity, illegality, or unenforceability of any provision in or obligation under this Amendment in any jurisdiction shall not affect or impair the validity, legality, or enforceability of the remaining provisions or obligations under this Amendment or of such provision or obligation in any other jurisdiction.  If feasible, any such offending provision shall be deemed modified to be within the limits of enforceability or validity; provided that if the offending provision cannot be so modified, it shall be stricken and all other provisions of this Amendment in all other respects shall remain valid and enforceable.
12.Further Assurances.  The parties hereto shall do and perform, or cause to be done and performed, all such further acts and things, and shall execute and deliver all such other agreements, certificates, instruments and documents, as any other party may reasonably request in order to carry out the intent and accomplish the purposes of this Amendment and the consummation of the transactions contemplated hereby.
13.Headings.  The headings of this Amendment are for convenience of reference and shall not form part of, or affect the interpretation of, this Amendment.
 [Remainder of Page Intentionally Left Blank; Signature Page Follows]

[****] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed on the day and year first above written.
US TERM NOTE BORROWER:

RISE SPV, LLC, a Delaware limited liability company, as the US Term Note Borrower

By:   Elevate Credit, Inc., a Delaware
         Corporation, its Sole Member

By:    /s/ Kenneth E. Rees                
Name:    Kenneth E. Rees                
Title:    President                    

UK BORROWER:

Elevate Credit International Ltd., a company incorporated under the laws of England with number 05041905 f/k/a THINK FINANCE (UK) LTD., as the UK Borrower

By:    /s/ Chris Lutes                    
Name:    Chris Lutes                         
Title:    CFO                        

US LAST OUT TERM NOTE BORROWER:

ELEVATE CREDIT SERVICE, LLC, a Delaware limited liability company, as the US Last Out Term Note Borrower

		
	By:
	Elevate Credit, Inc., as Sole Member

By:    /s/ Kenneth E. Rees                
Name:    Kenneth E. Rees                
Title:    President    

[****] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.

Second Amendment to Third Amended and Restated Financing Agreement

                
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed on the day and year first above written.
US CONVERTIBLE TERM NOTE BORROWER:
ELEVATE CREDIT, INC., a Delaware corporation

By:    /s/ Kenneth E. Rees                
Name:    Kenneth E. Rees
Title:    President

OTHER CREDIT PARTIES:

ELEVATE CREDIT, INC.
Elastic Financial, LLC
Elevate Decision Sciences, LLC
RISE Credit, LLC
financial education, llc

		
	  
	By: Elevate Credit, Inc., as Sole Member of each of the above-named entities

By:    /s/ Kenneth E. Rees                
Name:  Kenneth E. Rees
Title:      President

RISE Credit Service of Ohio, LLC
RISE Credit Service of Texas, LLC

By: RISE Credit, LLC, as Sole Member of each of the above-named entities
  By: Elevate Credit, Inc., as its Sole Member

By:    /s/ Kenneth E. Rees                
Name:     Kenneth E. Rees
Title:      President

[****] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.

Second Amendment to Third Amended and Restated Financing Agreement

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed on the day and year first above written.
RISE Financial, LLC
RISE Credit of Alabama, LLC
RISE Credit of California, LLC
RISE Credit of Delaware, LLC
RISE Credit of Georgia, LLC
RISE Credit of Idaho, LLC
RISE Credit of Kansas, LLC
RISE Credit of Illinois, LLC
RISE Credit of Mississippi, LLC
RISE Credit of Missouri, LLC
RISE Credit of Nevada, LLC
RISE Credit of North Dakota, LLC
RISE Credit of South Carolina, LLC
RISE Credit of South Dakota, LLC
RISE Credit of Utah, LLC
RISE Credit of Virginia, LLC
RISE Credit of Arizona, LLC
RISE Credit of Colorado, LLC
RISE Credit of Oklahoma, LLC
RISE Credit of Nebraska, LLC
RISE Credit of LOUISIANA, LLC
RISE Credit of TEXAS, LLC
RISE credit of tennessee, llc
   
By: RISE SPV, LLC, as Sole Member of each of the above-named entities
      By: Elevate Credit, Inc., as its Sole Member

By:    /s/ Kenneth E. Rees                
Name: Kenneth E. Rees
Title:      President

[****] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.

Second Amendment to Third Amended and Restated Financing Agreement

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed on the day and year first above written.
Elastic@Work, LLC
elevate@Work Administration, LLC
ELEVATE@Work, LLC
   
		
	By:
	Elastic Financial, LLC, as Sole Member of each of the above-named entities

		
	By:
	Elevate Credit, Inc., as its Sole Member

By:    /s/ Kenneth E. Rees                
Name:     Kenneth E. Rees
Title:      President

    

[****] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.

Second Amendment to Third Amended and Restated Financing Agreement

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed on the day and year first above written.
AGENT:
VICTORY PARK MANAGEMENT, LLC

By:    /s/ Scott R. Zemnick                
Name: Scott R. Zemnick
Title: Authorized Signatory

[****] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.

Second Amendment to Third Amended and Restated Financing Agreement

Annex A

See attached.

[****] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.

Second Amendment to Third Amended and Restated Financing Agreement

EXHIBIT A-2(a)
FORM OF SENIOR SECURED UK TERM NOTE (USD)
	
		
	_______ __, 201_
	Note #_/__/__-_
Principal:  U.S. $__________

FOR VALUE RECEIVED, Elevate Credit International Ltd., a company incorporated under the laws of England with number 05041905 (the “UK Term Note Borrower”) hereby promises to pay to _________________ or its registered assigns (the “Holder”) the amount set out above as the Principal or, if less, the aggregate unpaid outstanding principal amount under this Note pursuant to the terms of that certain Third Amended and Restated Financing Agreement, dated as of February 1, 2017, by and among the UK Term Note Borrower, the other Borrowers party thereto, the other Credit Parties party thereto, Victory Park Management, LLC, as administrative agent and collateral agent (in such capacity, the “Agent”) and the Lenders party thereto (together with all exhibits and schedules thereto and as may be amended, restated, modified and supplemented from time to time the “Financing Agreement”).  The UK Term Note Borrower hereby promises to pay accrued and unpaid interest and Prepayment Premium, if any, on the aggregate outstanding principal amount under this Note (as defined below) on the dates, rates and in the manner provided for in the Financing Agreement.  This Senior Secured UK Term Note (USD) (including all Senior Secured UK Term Notes (USD) issued in exchange, transfer, or replacement hereof, this “Note”) is one of the Senior Secured UK Term Notes (USD) issued pursuant to the Financing Agreement (collectively, the “Notes”).  Capitalized terms used and not defined herein are defined in the Financing Agreement. 
This Note is subject to optional redemption and mandatory prepayment on the terms specified in the Financing Agreement, but not otherwise.  At any time an Event of Default exists, the aggregate outstanding principal amount under this Note, together with all accrued and unpaid interest and any applicable premium due, if any, may be declared or otherwise become due and payable in the manner, at the price and with the effect, all as provided in the Financing Agreement.
All payments in respect of this Note are to be made in lawful money of the United States of America at the Agent’s office in Chicago, Illinois or at such other place as the Agent or the Holder shall have designated by written notice to the UK Term Note Borrower as provided in the Financing Agreement.
This Note may be offered, sold, assigned or transferred by the Holder as provided in the Financing Agreement; provided, this Note may not be offered, sold or delivered, directly or indirectly, within the United Kingdom or to, or for the account or benefit of a Person within the United Kingdom.  No transfer of Notes made in breach of this restriction will be registered by the UK Term Note Borrower
This Note is a registered Note and, as provided in the Financing Agreement, upon surrender of this Note for registration of transfer, duly endorsed, or accompanied by a written instrument of transfer duly executed, by the registered Holder hereof or such Holder’s attorney duly authorized in writing, a new Note for a like principal amount will be issued to, and registered in the name of, the transferee.  Prior to due presentment for registration of transfer, the UK Term Note Borrower may treat the person in whose name this Note is registered as the owner hereof for the purpose of receiving payment and for all other purposes, and the UK Term Note Borrower will not be affected by any notice to the contrary.
This Note shall be construed and enforced in accordance with, and all questions concerning the construction, validity, interpretation and performance of this Note and all disputes arising hereunder shall be governed by, the laws of the State of Delaware, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of Delaware or any other jurisdictions) that would cause the application of the laws 

[****] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.

Senior Secured UK Term Note (USD)

of any jurisdictions other than the State of Delaware.  The parties hereto (a) agree that any legal action or proceeding with respect to this Note or any other agreement, document, or other instrument executed in connection herewith, shall be brought in any state or federal court located within Wilmington, Delaware, (b) irrevocably waive any objections which either may now or hereafter have to the venue of any suit, action or proceeding arising out of or relating to this Note, or any other agreement, document, or other instrument executed in connection herewith, brought in the aforementioned courts, and (c) further irrevocably waive any claim that any such suit, action, or proceeding brought in any such court has been brought in an inconvenient forum.
THE HOLDER AND THE UK TERM NOTE BORROWER IRREVOCABLY WAIVE THE RIGHT TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING BROUGHT TO ENFORCE ANY PROVISION OF THIS NOTE OR ANY OTHER TRANSACTION DOCUMENT.
 [Remainder of Page Intentionally Left Blank; Signature Page Follows]

[****] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.

Senior Secured UK Term Note (USD)

IN WITNESS WHEREOF, the UK Term Note Borrower has caused this Note to be duly executed as of the date set out above.
UK TERM NOTE BORROWER:

Elevate Credit International Ltd., a company incorporated under the laws of England with number 05041905

By: ____________________________________ 
Name:    ________________________________________            
Title:    ________________________________________                    

[****] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.

Senior Secured UK Term Note (USD)

EXHIBIT A-2(b)
FORM OF SENIOR SECURED UK TERM NOTE (GBP)
	
		
	_______ __, 201_
	Note #_/__/__-_
Principal: GBP £_______________

FOR VALUE RECEIVED, Elevate Credit International Ltd., a company incorporated under the laws of England with number 05041905 (the “UK Term Note Borrower”) hereby promises to pay to ______________ or its registered assigns (the “Holder”) the amount set out above as the Principal or, if less, the aggregate unpaid outstanding principal amount under this Note pursuant to the terms of that certain Third Amended and Restated Financing Agreement, dated as of February 1, 2017, by and among the UK Term Note Borrower, the other Borrowers party thereto, the other Credit Parties party thereto, Victory Park Management, LLC, as administrative agent and collateral agent (in such capacity, the “Agent”) and the Lenders party thereto (together with all exhibits and schedules thereto and as may be amended, restated, modified and supplemented from time to time the “Financing Agreement”).  The UK Term Note Borrower hereby promises to pay accrued and unpaid interest and Prepayment Premium, if any, on the aggregate outstanding principal amount under this Note (as defined below) on the dates, rates and in the manner provided for in the Financing Agreement.  This Senior Secured UK Term Note (GBP) (including all Senior Secured UK Term Notes (GBP) issued in exchange, transfer, or replacement hereof, this “Note”) is one of the Senior Secured UK Term Notes (GBP) issued pursuant to the Financing Agreement (collectively, the “Notes”).  Capitalized terms used and not defined herein are defined in the Financing Agreement. 
This Note is subject to optional redemption and mandatory prepayment on the terms specified in the Financing Agreement, but not otherwise.  At any time an Event of Default exists, the aggregate outstanding principal amount under this Note, together with all accrued and unpaid interest and any applicable premium due, if any, may be declared or otherwise become due and payable in the manner, at the price and with the effect, all as provided in the Financing Agreement.
All payments in respect of this Note are to be made in lawful money of the United States of America at the Agent’s office in Chicago, Illinois or at such other place as the Agent or the Holder shall have designated by written notice to the UK Term Note Borrower as provided in the Financing Agreement.
This Note may be offered, sold, assigned or transferred by the Holder as provided in the Financing Agreement; provided, this Note may not be offered, sold or delivered, directly or indirectly, within the United Kingdom or to, or for the account or benefit of a Person within the United Kingdom.  No transfer of Notes made in breach of this restriction will be registered by the UK Term Note Borrower
This Note is a registered Note and, as provided in the Financing Agreement, upon surrender of this Note for registration of transfer, duly endorsed, or accompanied by a written instrument of transfer duly executed, by the registered Holder hereof or such Holder’s attorney duly authorized in writing, a new Note for a like principal amount will be issued to, and registered in the name of, the transferee.  Prior to due presentment for registration of transfer, the UK Term Note Borrower may treat the person in whose name this Note is registered as the owner hereof for the purpose of receiving payment and for all other purposes, and the UK Term Note Borrower will not be affected by any notice to the contrary.
This Note shall be construed and enforced in accordance with, and all questions concerning the construction, validity, interpretation and performance of this Note and all disputes arising hereunder shall be governed by, the laws of the State of Delaware, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of Delaware or any other jurisdictions) that would cause the application of the laws 

[****] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.

of any jurisdictions other than the State of Delaware.  The parties hereto (a) agree that any legal action or proceeding with respect to this Note or any other agreement, document, or other instrument executed in connection herewith, shall be brought in any state or federal court located within Wilmington, Delaware, (b) irrevocably waive any objections which either may now or hereafter have to the venue of any suit, action or proceeding arising out of or relating to this Note, or any other agreement, document, or other instrument executed in connection herewith, brought in the aforementioned courts, and (c) further irrevocably waive any claim that any such suit, action, or proceeding brought in any such court has been brought in an inconvenient forum.
THE HOLDER AND THE UK TERM NOTE BORROWER IRREVOCABLY WAIVE THE RIGHT TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING BROUGHT TO ENFORCE ANY PROVISION OF THIS NOTE OR ANY OTHER TRANSACTION DOCUMENT.
 [Remainder of Page Intentionally Left Blank; Signature Page Follows]

[****] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.

IN WITNESS WHEREOF, the UK Term Note Borrower has caused this Note to be duly executed as of the date set out above.
UK TERM NOTE BORROWER:

Elevate Credit International Ltd., a company incorporated under the laws of England with number 05041905

By: ____________________________________ 
Name:    ________________________________________    
Title:    ________________________________________

[****] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.

Senior Secured UK Term Note (GBP)

Annex B

2.    
(a)    UK Term Notes (USD)
	
					
	(1)
	(2)
	(3)
	(4)
	(5)

	Lender
	Address and Facsimile Number
	Commitment to Fund Draws under UK Term Notes (USD) as of Second Amendment Effective Date1:
	Outstanding Principal Amount under UK Term Notes (USD) as of Second Amendment Effective Date:
	Legal Representative’s Address and Facsimile Number

	VPC Offshore Unleveraged Private Debt Fund, L.P.
	227 W. Monroe Street
Suite 3900
Chicago, IL 60606
Telephone: 312.705.2786
Facsimile: 312.701.0794
Attention:  Scott R. Zemnick
E-mail:  szemnick@vpcadvisors.com
	[****]
	[****]
	Katten Muchin Rosenman LLP
525 West Monroe Street
Chicago, IL 60661
Telephone:(312) 902-5297
(312) 902-5495
Facsimile:(312) 577-8964
(312) 577-8854
Attention:Mark R. Grossmann
Scott E. Lyons
E-mail:mg@kattenlaw.com
scott.lyons@kattenlaw.com

	VPC Investor Fund B, LLC
	227 W. Monroe Street
Suite 3900
Chicago, IL 60606
Telephone: 312.705.2786
Facsimile: 312.701.0794
Attention:  Scott R. Zemnick
E-mail:  szemnick@vpcadvisors.com
	[****]
	[****]
	Katten Muchin Rosenman LLP
525 West Monroe Street
Chicago, IL 60661
Telephone:(312) 902-5297
(312) 902-5495
Facsimile:(312) 577-8964
(312) 577-8854
Attention:Mark R. Grossmann
Scott E. Lyons
E-mail:mg@kattenlaw.com
scott.lyons@kattenlaw.com

	VPC Investor Fund C, L.P.
	227 W. Monroe Street
Suite 3900
Chicago, IL 60606
Telephone: 312.705.2786
Facsimile: 312.701.0794
Attention:  Scott R. Zemnick
E-mail:  szemnick@vpcadvisors.com
	[****]
	[****]
	Katten Muchin Rosenman LLP
525 West Monroe Street
Chicago, IL 60661
Telephone:(312) 902-5297
(312) 902-5495
Facsimile:(312) 577-8964
(312) 577-8854
Attention:Mark R. Grossmann
Scott E. Lyons
E-mail:mg@kattenlaw.com
scott.lyons@kattenlaw.com

____________________________
1 For the avoidance of doubt, the remaining unfunded Commitments of the applicable Lenders in respect of UK Term Notes (USD) as of the Second Amendment Effective Date is $19,200,000.

[****] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.

Second Amendment to Third Amended and Restated Financing Agreement

	
					
	(1)
	(2)
	(3)
	(4)
	(5)

	Lender
	Address and Facsimile Number
	Commitment to Fund Draws under UK Term Notes (USD) as of Second Amendment Effective Date1:
	Outstanding Principal Amount under UK Term Notes (USD) as of Second Amendment Effective Date:
	Legal Representative’s Address and Facsimile Number

	VPC Onshore Specialty Finance Fund II, L.P.
	227 W. Monroe Street
Suite 3900
Chicago, IL 60606
Telephone: 312.705.2786
Facsimile: 312.701.0794
Attention:  Scott R. Zemnick
E-mail:  szemnick@vpcadvisors.com
	[****]
	[****]
	Katten Muchin Rosenman LLP
525 West Monroe Street
Chicago, IL 60661
Telephone:(312) 902-5297
(312) 902-5495
Facsimile:(312) 577-8964
(312) 577-8854
Attention:Mark R. Grossmann
Scott E. Lyons
E-mail:mg@kattenlaw.com
scott.lyons@kattenlaw.com

	 
	 
	Aggregate Commitment to Fund Draws under UK Term Notes (USD):  $35,000,000
	Aggregate Outstanding Principal Amount under UK Term Notes (USD) as of Second Amendment Effective Date:  $15,800,000
	 

[****] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.

Second Amendment to Third Amended and Restated Financing Agreement

(b)    UK Term Notes (GBP)
	
					
	(1)
	(2)
	(3)
	(4)
	(5)

	Lender
	Address and Facsimile Number
	Commitment to Fund Draws under UK Term Notes (GBP) as of Second Amendment Effective Date2:
	Outstanding Principal Amount under UK Term Notes (GBP) as of Second Amendment Effective Date:
	Legal Representative’s Address and Facsimile Number

	VPC Specialty Lending Investments PLC
	227 W. Monroe Street
Suite 3900
Chicago, IL 60606
Telephone: 312.705.2786
Facsimile: 312.701.0794
Attention:  Scott R. Zemnick
E-mail:  szemnick@vpcadvisors.com
	£10,000,000
	£5,409,582.69
	Katten Muchin Rosenman LLP
525 West Monroe Street
Chicago, IL 60661
Telephone:(312) 902-5297
(312) 902-5495
Facsimile:(312) 577-8964
(312) 577-8854
Attention:Mark R. Grossmann
Scott E. Lyons
E-mail:mg@kattenlaw.com
scott.lyons@kattenlaw.com

	 
	 
	Aggregate Commitment to Fund Draws under UK Term Notes (GBP):  £10,000,000
	Aggregate Outstanding Principal Amount under UK Term Notes (GBP) as of Second Amendment Effective Date:  £5,409,582.69
	 

____________________________
2 For the avoidance of doubt, the remaining unfunded Commitments of the applicable Lenders in respect of UK Term Notes (GBP) as of the Second Amendment Effective Date is £4,590,417.31.

[****] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.

Second Amendment to Third Amended and Restated Financing AgreementExhibit 10.1

 

Cinedigm Corp.

2017 Incentive Plan

 

     

     

    

 

TABLE OF CONTENTS

 

	 	 	Page
	 	 	 
	Article 1.	Establishment, Purpose, and Duration	1
	 	 	 
	Article 2.	Definitions	1
	 	 	 
	Article 3.	Administration	7
	 	 	 
	Article 4.	Shares Subject to this Plan and Maximum Awards	8
	 	 	 
	Article 5.	Eligibility and Participation	10
	 	 	 
	Article 6.	Stock Options	10
	 	 	 
	Article 7.	Stock Appreciation Rights	12
	 	 	 
	Article 8.	Restricted Stock and Restricted Stock Units	13
	 	 	 
	Article 9.	Performance Units/Performance Shares	15
	 	 	 
	Article 10.	Cash-Based Awards and Other Stock-Based Awards	16
	 	 	 
	Article 11.	Transferability of Awards	16
	 	 	 
	Article 12.	Performance Measures	17
	 	 	 
	Article 13.	Nonemployee Director Awards	19
	 	 	 
	Article 14.	Minimum Vesting of Share-Based Awards	19
	 	 	 
	Article 15.	Dividend Equivalents	19
	 	 	 
	Article 16.	Beneficiary Designation	20
	 	 	 
	Article 17.	Rights of Participants	20
	 	 	 
	Article 18.	Change of Control	20
	 	 	 
	Article 19.	Amendment, Modification, Suspension, and Termination	22
	 	 	 
	Article 20.	Withholding	23
	 	 	 
	Article 21.	Successors	24
	 	 	 
	Article 22.	General Provisions	24

 

    i 

     

    

 

Cinedigm Corp.

2017 Incentive Plan

 

		Article 1.	Establishment, Purpose, and Duration

 

1.1         Establishment.
Cinedigm Corp., a Delaware corporation (hereinafter referred to as the “Company”), establishes an incentive compensation
plan to be known as the Cinedigm Corp. 2017 Incentive Plan (hereinafter referred to as the “Plan”), as set forth
in this document.

 

This Plan permits the grant of Nonqualified
Stock Options, Incentive Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Performance Shares,
Performance Units, Cash-Based Awards, and Other Stock-Based Awards.

 

This Plan’s effective date is the date
the Plan is approved by the Company’s shareholders (the “Effective Date”), and the Plan shall remain in effect
as provided in Section 1.3 hereof. Upon its effectiveness, the Plan shall supersede the Existing Incentive Plan (as defined
herein) such that no further Awards shall be made under the Existing Incentive Plan. This Plan shall not, in any way, affect awards
under the Existing Incentive Plan that are outstanding as of the Effective Date.

 

1.2         Purpose
of this Plan. The purpose of the Plan is to (a) advance the interests of the Company and its stockholders by providing incentives
and rewards to those individuals who are in a position to contribute to the long term growth and profitability of the Company;
(b) assist the Company and its Subsidiaries and Affiliates in attracting, retaining, and developing highly qualified Employees,
Third Party Service Providers, and Nonemployee Directors for the successful conduct of their business; and (c) make the Company's
compensation program competitive with those of other major employers.

 

1.3           Duration
of this Plan. Unless sooner terminated as provided herein, this Plan shall terminate ten (10) years from the Effective Date.
After this Plan is terminated, no Awards may be granted but Awards previously granted shall remain outstanding in accordance with
their applicable terms and conditions and this Plan’s terms and conditions. Notwithstanding the foregoing, no Incentive Stock
Options may be granted more than ten (10) years after the earlier of (a) adoption of this Plan by the Board, or (b) the Effective
Date.

 

		Article 2.	Definitions

 

Whenever used in this Plan, the following terms
shall have the meanings set forth below, and when the meaning is intended, the initial letter of the word shall be capitalized.

 

		2.1	“Affiliate” shall mean any corporation
or other entity (including, but not limited to, a partnership or a limited liability company), that is affiliated with the Company
through stock or equity ownership or otherwise, and is designated as an Affiliate for purposes of this Plan by the Committee.

 

		2.2	“Annual Award Limit” or “Annual
Award Limits” have the meaning set forth in Section 4.1.

 

    	 	1	 

     

    

 

		2.3	“Award” means, individually or collectively,
a grant under this Plan of Nonqualified Stock Options, Incentive Stock Options, SARs, Restricted Stock, Restricted Stock
Units, Performance Shares, Performance Units, Cash-Based Awards, or Other Stock-Based Awards, in each case subject to the
terms of this Plan.

 

		2.4	“Award Agreement” means either (i) a
written agreement entered into by the Company and a Participant setting forth the terms and provisions applicable to an Award
granted under this Plan, or (ii) a written or electronic statement issued by the Company to a Participant describing the terms
and provisions of such Award, including any amendment or modification thereof. The Committee may provide for the use of electronic,
internet, or other non-paper Award Agreements, and the use of electronic, internet, or other non-paper means for the acceptance
thereof and actions thereunder by a Participant.

 

		2.5	“Board” or “Board of Directors”
means the Board of Directors of the Company.

 

		2.6	“Cash-Based Award” means an Award, denominated
in cash, granted to a Participant as described in Article 10.

 

		2.7	“Cause” means, unless otherwise specified
in an Award Agreement or in an applicable employment agreement between the Company (or its applicable subsidiary or Affiliate)
and a Participant, with respect to any Participant, as determined by the Committee in its sole discretion, the Participant’s:

 

		(a)	Conviction of, or plea of nolo contendere to, a
felony or other crime involving moral turpitude;

 

		(b)	material breach of a material provision of a term of employment
(or other service provider function) that is not corrected within thirty (30) days following written notice of such breach sent
by the Company to the Participant;

 

		(c)	willful misconduct in the performance of material duties;

 

		(d)	performance of material duties that is grossly negligent;
or

 

		(e)	failure to attempt to fully comply with any lawful directive
of the Board which is not corrected within thirty (30) days following written notice of such breach sent by the Company to the
Participant.

 

Whether or not “Cause” exists shall be determined
solely by the Company in its reasonable, good faith discretion.

 

    	 	2	 

     

    

 

		2.8	“Change of Control” means the occurrence
of any of the following events:

 

		(a)	Any one person, or more than one person acting as
a group, acquires ownership of stock (as determined under Code Section 318(a)) of the Company that, together with stock held by
such person or group, constitutes more than fifty percent (50%) of the total fair market value or total voting power of the stock
of the Company; provided, however, that if any one person or more than one person acting as a group, is considered to own more
than fifty percent (50%) of the total fair market value or total voting power of the stock of the Company, the acquisition of
additional stock by the same person or persons is not considered to cause a Change in Control of the Company. This paragraph applies
only when there is a transfer of stock of the Company (or issuance of stock of the Company) and stock in the Company remains outstanding
after the transaction;

 

		(b)	any one person, or more than one person acting as a group,
acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such person or persons)
ownership of stock (as determined under Code Section 318(a)) of the Company possessing thirty percent (30%) or more of the total
voting power of the stock of the Company; provided, however, that if any one person or more than one person acting as a group,
is considered to own thirty percent (30%) or more of the total voting power of the stock of the Company, the acquisition of additional
stock by the same person or persons is not considered to cause a Change in Control of the Company;

 

		(c)	the consummation of a Merger (as defined below), unless,
following such Merger, stock possessing at least fifty percent (50%) of the total combined voting power of the issued and outstanding
shares of all classes of Company Voting Securities of the corporation resulting from such Merger is beneficially owned, directly
or indirectly, by individuals and entities who were beneficial owners of the then-outstanding Company Voting Securities immediately
prior to such Merger in substantially the same proportion as their ownership immediately prior to such Merger;

 

		(d)	individuals who are members of the Board as of the Effective Date of this Plan (the
                                                                                                 “Incumbent Directors”) cease for any reason to constitute at least a majority of the members of the Board;
                                                                                                 provided, however, that any individual becoming a director subsequent to the date of this Plan whose appointment to the
                                                                                                 Board                                                                                                  or nomination for
                                                                                                 election by the Company was approved by a vote of at least a majority of the Incumbent Directors then in
                                                                                                 office (unless such appointment or election was at the request of an unrelated third party who has taken steps
                                                                                                 reasonably calculated to result in a Change in Control as described in paragraphs (a), (b) or (c) of this Section 2.8 and who
                                                                                                 has                                                                                                  indicated publicly an
                                                                                                 intent to seek control of the Company) shall be treated from the date of his appointment or election as
                                                                                                 an Incumbent Director;

 

		(e)	consummation of a complete liquidation or dissolution of
the Company; or

 

    	 	3	 

     

    

 

		(f)	any one person, or more than one person acting as a group, acquires (or has acquired during the 12-month period ending on
                                                                               the date of the most recent acquisition by such person or persons) assets from the Company that have a total gross fair
                                                                               market value equal to or more than forty percent (40%) of the total gross fair market value of all of the assets of the
                                                                               Company immediately prior to such acquisition(s); provided, however, that a transfer of assets by the Company is not treated
                                                                               as a Change in Control if the assets are transferred to (A) a shareholder of the Company (immediately before the asset
                                                                               transfer) in exchange for or with respect to its stock; (B) an entity, fifty percent (50%) or more of the total value or
                                                                               voting power of which is owned, directly or indirectly, by the Company; (C) a person, or more than one person acting as a
                                                                               group, that owns, directly or indirectly, fifty percent (50%) or more of the total value or voting power of all
                                                                               outstanding stock of the Company; or (D) an entity, at least fifty percent (50%) percent of the total value or voting power
                                                                               of which is owned, directly or indirectly, by a person described in the previous subsection (C). For purposes of this
                                                                               paragraph, (1) gross fair market value means the value of the assets of the Company, or the value of the assets being
                                                                               disposed of, determined without regard to any liabilities associated with such assets, and (2) a person’s status is
                                                                               determined immediately after the transfer of the assets.

 

For purposes of this Section 2.8, “Company Voting
Securities” shall mean the combined voting power of all outstanding classes of common stock of the Company and all other
outstanding securities of the Company entitled to vote generally in the election of directors of the Company and “Merger”
shall mean any merger, reorganization, consolidation, share exchange, transfer of assets or other transaction having similar effect
involving the Company.

 

		2.9	“Code” means the U.S. Internal Revenue
Code of 1986, as amended from time to time. For purposes of this Plan, references to sections of the Code shall be deemed to include
references to any applicable regulations thereunder and any successor or similar provision.

 

		2.10	“Committee” means the Compensation Committee
of the Board or such other Committee appointed by the Board for the purpose of administering this Plan comprised solely of two
or more members of the Board who qualify as “non-employee” directors within the meaning of Rule 16b-3 under the Exchange
Act, as “outside” directors within the meaning of § 162(m) of the Code, and as “independent” directors
within the meaning of NASDAQ Rule 4200(b)(15).

 

		2.11	“Company” or “Corporation”
means Cinedigm Corp., a Delaware corporation, and any successor thereto as provided in Article 20 herein.

 

		2.12	“Covered Employee” means any Employee
who is a “covered employee,” as defined in Code Section 162(m).

 

		2.13	“Effective Date” has the meaning set
forth in Section 1.1.

 

		2.14	“Employee” means any individual performing
services for the Company, an Affiliate, or a Subsidiary and designated as an employee of the Company, its Affiliates, and/or its
Subsidiaries on the payroll records thereof. An Employee shall not include any individual during any period he or she is classified
or treated by the Company, Affiliate, and/or Subsidiary as an independent contractor, a consultant, or any employee of an employment,
consulting, or temporary agency or any other entity other than the Company, Affiliate, and/or Subsidiary, without regard to whether
such individual is subsequently determined to have been, or is subsequently retroactively reclassified as a common-law employee
of the Company, Affiliate, and/or Subsidiary during such period.

 

		2.15	“Exchange Act” means the Securities
Exchange Act of 1934, as amended from time to time, or any successor act thereto.

 

		2.16	“Existing Incentive Plan” means the
Second Amended and Restated 2000 Equity Incentive Plan of Access Integrated Technologies, Inc., as previously amended, restated,
supplemented or otherwise modified prior to the Effective Date.

 

		2.17	“Full Value Award” means an Award other
than in the form of an ISO, NQSO, or SAR, and which is settled by the issuance of Shares.

 

    	 	4	 

     

    

 

		2.18	“Good Reason” means, unless otherwise
specified in an Award Agreement or in an applicable employment agreement between the Company (or its applicable Subsidiary or
Affiliate) and a Participant, with respect to any Participant, as determined by the Committee in its sole discretion without the
Employee’s written consent:

 

		(a)	a material and substantially adverse reduction in title
or job responsibilities compared with title or job responsibilities on the Effective Date;

 

		(b)	the Company’s requiring the office nearest to the
Employee’s principal residence to be located at a place that is more than fifty (50) miles from where such office is currently
located; or

 

		(c)	any material breach of an employment agreement by the Company.

 

			Notwithstanding the foregoing, Good Reason will be deemed to exist only in the event that: (x) the Employee gives written notice
to the Company of his or her claim of Good Reason and the specific grounds for his claim within ninety (90) days following the
occurrence of the event upon which his claim rests, (y) the Company fails to cure such breach within thirty days (30) of receiving
such notice (“Cure Period”), and (z) the Employee gives written notice to the Company to terminate his employment within
fifteen (15) days following the Cure Period.

 

		2.19	“Grant Date” means the date an Award
is granted to a Participant pursuant to the Plan.

 

		2.20	“Grant Price” means the price established
at the time of grant of an SAR pursuant to Article 7, used to determine whether there is any payment due upon exercise of the
SAR.

 

		2.21	“Incentive Stock Option” or “ISO”
means an Option to purchase Shares granted under Article 6 to an Employee and that is designated as an Incentive Stock
Option and that is intended to meet the requirements of Code Section 422, or any successor provision.

 

		2.22	“Insider” shall mean an individual who
is, on the relevant date, an officer, or director of the Company, or a more than ten percent (10%) beneficial owner (as that
term is defined in Section 13d-3 of the Exchange Act) of any class of the Company’s equity securities that is registered
pursuant to Section 12 of the Exchange Act, as determined by the Board in accordance with Section 16 of the Exchange
Act.

 

		2.23	“Market Price” means the closing price
of the Class A Common Stock of the Company as reported on the NASDAQ Global Market or such other primary market or exchange on
which the Class A Common Stock may, from time to time, trade (the “Market”), on the date for which a Market Price
is to be determined under this Plan. To the extent an Option or SAR is granted on a date that the Market is closed, the Market
Price shall be the closing price on the last preceding trading day.

 

    	 	5	 

     

    

 

		2.24	“Nonemployee Director” means a member
of the Company’s Board of Directors who is not an Employee of the Company or its Affiliates or Subsidiaries.

 

		2.25	“Nonqualified Stock Option” or “NQSO”
means an Option that is not intended to meet the requirements of Code Section 422, or that otherwise does not meet
such requirements.

 

		2.26	“Option” means an Incentive Stock Option
or a Nonqualified Stock Option, as described in Article 6.

 

		2.27	“Option Price” means the price at which
a Share may be purchased by a Participant pursuant to an Option.

 

		2.28	“Other Stock-Based Award” means an equity-based
or equity-related Award not otherwise described by the terms of this Plan, granted pursuant to Article 10.

 

		2.29	“Participant” means any eligible individual
as set forth in Article 5 to whom an Award is granted.

 

		2.30	“Performance-Based Compensation” means
compensation under an Award for which (i) the Performance Measures for the Performance Period have been designated by the Committee
not later than the earlier of (a) ninety (90) days after the beginning of the Performance Period, or (b) the date as of which
twenty-five percent (25%) of such period of time has elapsed, and (ii) the Award is otherwise intended to satisfy the requirements
of Code Section 162(m) for certain performance-based compensation paid to Covered Employees. Notwithstanding the foregoing, nothing
in this Plan shall be construed to mean that an Award which does not satisfy the requirements for performance-based compensation
under Code Section 162(m) does not constitute performance-based compensation for other purposes, including Code Section 409A.

 

		2.31	“Performance Measures” means measures
as described in Article 12 on which the performance goals are based and which are approved by the Company’s shareholders
pursuant to this Plan in order to qualify Awards as Performance-Based Compensation.

 

		2.32	“Performance Period” means the period
of time during which the Performance Measures must be met in order to determine the amount and/or vesting of an Award.

 

		2.33	“Performance Share” means an Award under
Article 9 herein and subject to the terms of this Plan, denominated in Shares, the value of which at the time it is payable
is determined by the extent to which the applicable Performance Measures have been achieved.

 

    	 	6	 

     

    

 

		2.34	“Performance Unit” means an Award under
Article 9 herein and subject to the terms of this Plan, denominated in units, the value of which at the time it is payable is
determined as a function of the extent to which corresponding Performance Measures have been achieved.

 

		2.35	“Period of Restriction” means the period
when Restricted Stock or Restricted Stock Units are subject to a substantial risk of forfeiture (based on the passage of time,
the achievement of Performance Measures or other performance goals, or upon the occurrence of other events as determined by the
Committee, in its discretion), as provided in Article 8.

 

		2.36	“Plan” means this Cinedigm Corp. 2017
Incentive Plan.

 

		2.37	“Plan Year” means the twelve (12) month
period beginning each April 1st.

 

		2.38	“Restricted Stock” means an Award granted
to a Participant pursuant to Article 8.

 

		2.39	“Restricted Stock Unit” means an Award
granted to a Participant pursuant to Article 8, except no Shares are actually awarded to the Participant on the Grant Date.

 

		2.40	“Share” means a share of Class A Common
Stock, $0.001 par value, of the Company.

 

		2.41	“Stock Appreciation Right” or “SAR”
means an Award, designated as an SAR, pursuant to the terms of Article 7 herein.

 

		2.42	“Subsidiary” means any corporation or
other entity, whether domestic or foreign, in which the Company has or obtains, directly or indirectly, a proprietary interest
of more than fifty percent (50%) by reason of stock ownership or otherwise.

 

		2.43	“Third Party Service Provider” means
any consultant, agent, advisor, or independent contractor who renders services to the Company, a Subsidiary, or an Affiliate that
(a) are not in connection with the offer and sale of Company’s securities in a capital raising transaction, and (b) do not
directly or indirectly promote or maintain a market for the Company’s securities.

 

		Article 3.	Administration

 

3.1         General.
The Committee shall be responsible for administering this Plan, subject to this Article 3 and the other provisions of this Plan.
The Committee may employ attorneys, consultants, accountants, agents, and other individuals, any of whom may be an Employee, and
the Committee, the Company, and its officers and directors shall be entitled to rely upon the advice, opinions, or valuations of
any such individuals. All actions taken and all interpretations and determinations made by the Committee shall be final and binding
upon the Participants, the Company, and all other interested individuals.

 

    	 	7	 

     

    

 

3.2         Authority
of the Committee. The Committee shall have full and exclusive discretionary power to interpret the terms and the intent of
this Plan and any Award Agreement or other agreement or document ancillary to or in connection with this Plan, to determine eligibility
for Awards and to adopt such rules, regulations, forms, instruments, and guidelines for administering this Plan as the Committee
may deem necessary or proper. Such authority shall include, but not be limited to, selecting Award recipients; determining the
types and amount of Awards to be granted to a recipient (including setting the Option Price and Grant Price, so long as it is not
lower than the applicable Market Price or such other higher limit as required under applicable law); establishing all Award terms
and conditions, including the terms and conditions set forth in Award Agreements; granting Awards as an alternative to or as the
form of payment for grants or rights earned or due under compensation plans or arrangements of the Company; construing any ambiguous
provision of the Plan or any Award Agreement; establishing administrative regulations to further the purpose of the Plan; and,
subject to Article 19, adopting modifications and amendments to this Plan or any Award Agreement, including without limitation,
any that are necessary to comply with the laws of the countries and other jurisdictions in which the Company, its Affiliates, and/or
its Subsidiaries operate. The Committee also shall have the ability to delegate to the Chief Executive Officer of the Company the
right to allocate Awards among eligible individuals who are not Insiders, provided that such delegation is subject to such terms
and conditions as the Committee in its discretion shall determine.

 

3.3         Delegation.
The Committee may delegate to one or more of its members or to one or more officers of the Company, and/or its Subsidiaries
and Affiliates or to one or more agents or advisors such administrative duties or powers as it may deem advisable, and the Committee
or any individuals to whom it has delegated duties or powers as aforesaid may employ one or more individuals to render advice with
respect to any responsibility the Committee or such individuals may have under this Plan.

 

		Article 4.	Shares Subject to this Plan and Maximum Awards

 

4.1         Number
of Shares Available for Awards and Maximum Amount of Non-Share Awards.

 

Subject to adjustment as provided in
Section 4.3:

 

		(a)	The maximum number of Shares available for issuance to
Participants under this Plan, inclusive of Shares issued and Shares underlying outstanding awards granted on or after the Effective
Date, is 2,108,270 Shares, which includes 128,270 unused
Shares carried over from the Existing Incentive Plan.

 

		(b)	The maximum number of Shares subject to Options or SARs
granted in any one (1) Plan Year to any one Participant shall be 400,000.

 

		(c)	The maximum number of Shares subject to all Full Value
Awards granted in any one (1) Plan Year to any one Participant shall be 400,000.

 

    	 	8	 

     

    

 

		(d)	With respect to Awards granted under the Plan that are
(i) intended to satisfy the “performance-based” compensation exception contained in Code Section 162(m), and (ii)
payable other than in Shares, the maximum amount payable to a Participant in any year is $5,000,000.

 

		(e)	The maximum
number of Shares that may be issued in the aggregate to all Nonemployee Directors in any one (1) Plan Year shall be 300,000.

 

4.2         Share
Usage. Shares covered by an Award shall only be counted as used to the extent they are actually issued. With respect to Options
and SARs, the number of Shares available for Awards under the Plan pursuant to Section 4.1, shall be reduced by one Share for each
Share covered by such Award or to which such Award relates. The number of Shares available for Awards under the Plan shall be reduced
by one Share for each Share covered by such Award or to which such Award relates. Awards that do not entitle the holder thereof
to receive or purchase Shares shall not be counted against the aggregate number of Shares available for Awards under the Plan.
In addition, any Shares related to Awards which terminate by expiration, forfeiture, cancellation, or otherwise without the issuance
of such Shares shall be available again for grant under this Plan. In no event, however, will the following Shares again become
available for Awards or increase the number of Shares available for grant under the Plan: (i) Shares tendered by the Participant
in payment of the exercise price of an Option; (ii) Shares withheld from exercised Awards for tax withholding purposes; (iii) Shares
subject to a SAR that are not issued in connection with the settlement of that SAR; and (iv) Shares repurchased by the Company
with proceeds received from the exercise of an Option. The Shares available for issuance under this Plan shall be authorized and
unissued Shares.

 

4.3         Adjustments
in Authorized Shares. In the event of any corporate event or transaction (including, but not limited to, a change in the Shares
of the Company or the capitalization of the Company) such as a merger, consolidation, reorganization, recapitalization, separation,
partial or complete liquidation, stock dividend, stock split, reverse stock split, split up, spin-off, or other distribution of
stock or property of the Company, combination of Shares, exchange of Shares, dividend in kind, or other like change in capital
structure, number of outstanding Shares or distribution (other than normal cash dividends) to shareholders of the Company, or any
similar corporate event or transaction, the Committee, in its sole discretion, in order to prevent dilution or enlargement of Participants’
rights under this Plan, shall substitute or adjust, as applicable, the number and kind of Shares that may be issued under this
Plan or under particular forms of Awards, the number and kind of Shares subject to outstanding Awards, the Option Price or Grant
Price applicable to outstanding Awards, the Annual Award Limits, and other value determinations applicable to outstanding Awards.

 

The Committee, in its sole discretion, may also
make appropriate adjustments in the terms of any Awards under this Plan to reflect or relate to such changes or distributions and
to modify any other terms of outstanding Awards, including modifications of Performance Measures and changes in the length of Performance
Periods. The determination of the Committee as to the foregoing adjustments, if any, shall be conclusive and binding on Participants
under this Plan.

 

    	 	9	 

     

    

 

Subject to the provisions of Article 19 and
notwithstanding anything else herein to the contrary, without affecting the number of Shares reserved or available hereunder, the
Committee may authorize the issuance or assumption of benefits under this Plan in connection with any merger, consolidation, acquisition
of property or stock, or reorganization upon such terms and conditions as it may deem appropriate (including, but not limited to,
a conversion of equity awards into Awards under this Plan in a manner consistent with paragraph 53 of FASB Interpretation No. 44),
subject to compliance with the rules under Code Sections 422 and 424, as and where applicable.

 

		Article 5.	Eligibility and Participation

 

5.1         Eligibility.
Individuals eligible to participate in this Plan include all Employees, Nonemployee Directors, and Third Party Service Providers.

 

5.2         Actual
Participation. Subject to the provisions of this Plan, the Committee may, from time to time, select from all eligible individuals
those individuals to whom Awards shall be granted and shall determine, in its sole discretion, the nature of any and all terms
permissible by law, and the amount of each Award.

 

		Article 6.	Stock Options

 

6.1         Grant
of Options. Subject to the terms and provisions of this Plan, Options may be granted to Participants in such number, and upon
such terms, and at any time and from time to time as shall be determined by the Committee, in its sole discretion.

 

6.2         Award
Agreement. Each Option grant shall be evidenced by an Award Agreement that shall specify the Option Price, the maximum duration
of the Option, the number of Shares to which the Option pertains, the conditions upon which an Option shall become vested and exercisable,
and such other provisions as the Committee shall determine which are not inconsistent with the terms of this Plan. The Award Agreement
also shall specify whether the Option is intended to be an ISO or a NQSO.

 

6.3         Option
Price. The Option Price for each grant of an Option under this Plan shall be determined by the Committee in its sole discretion
and shall be specified in the Award Agreement; provided, however, the Option Price must be at least equal to one hundred percent
(100%) of the Market Price of the Shares as determined on the Grant Date. If the Participant to whom an ISO is granted owns, at
the time of the grant, more than ten percent (10%) of the combined voting power of the Company, or its Subsidiaries or Affiliates,
the exercise price of each Share subject to such Option shall be not less than one hundred ten percent (110%) of the closing price
described in the preceding sentence.

 

6.4         Term
of Options. Each Option granted to a Participant shall expire at such time as the Committee shall determine at the time of
grant; provided, however, no Option shall be exercisable later than the day before the tenth (10th) anniversary date of its Grant
Date (or in the case of an ISO granted to a Participant who at the time of grant owns stock representing more than ten percent
(10%) of the combined voting power of the Company, or its Subsidiaries or Affiliates, no later than the day before the fifth (5th)
anniversary date of its Grant Date). Notwithstanding the foregoing, for Nonqualified Stock Options granted to Participants outside
the United States, the Committee has the authority to grant Nonqualified Stock Options that have a term greater than ten (10) years.

 

    	 	10	 

     

    

 

6.5         Exercise
of Options. Subject to Section 6.8, Options granted under this Article 6 shall be exercisable at such times and be subject
to such restrictions and conditions as the Committee shall in each instance approve, which terms and restrictions need not be the
same for each grant or for each Participant.

 

6.6         Payment.
Options granted under this Article 6 shall be exercised by the delivery of a notice of exercise to the Company or an agent designated
by the Company in a form specified or accepted by the Committee, or by complying with any alternative procedures which may be authorized
by the Committee, setting forth the number of Shares with respect to which the Option is to be exercised, accompanied by full payment
for the Shares.

 

A condition of the issuance of the Shares as
to which an Option shall be exercised shall be the payment of the Option Price. The Option Price of any Option shall be payable
to the Company in full either: (a) in cash or its equivalent; (b) by tendering (either by actual delivery or attestation)
previously acquired Shares having an aggregate Market Price at the time of exercise equal to the Option Price (provided that except
as otherwise determined by the Committee, the Shares that are tendered must have been held by the Participant for at least six
(6) months (or such other period, if any, as the Committee may permit) prior to their tender to satisfy the Option Price if acquired
under this Plan or any other compensation plan maintained by the Company or have been purchased on the open market); (c) by a cashless
(broker-assisted) exercise; (d) by the Company withholding Shares that otherwise would be delivered to the exerciser pursuant to
the exercise of the Option in an amount equaling the value of the exercise price; (e) by a combination of (a), (b), (c) and/or
(d); or (f) any other method approved or accepted by the Committee in its sole discretion.

 

Subject to any governing rules or regulations,
as soon as practicable after receipt of written notification of exercise and full payment (including satisfaction of any applicable
tax withholding), the Company shall deliver to the Participant evidence of book entry Shares, or upon the Participant’s request,
Share certificates in an appropriate amount based upon the number of Shares purchased under the Option(s).

 

Unless otherwise determined by the Committee,
all payments under all of the methods indicated above shall be paid in United States dollars.

 

6.7         Restrictions
on Share Transferability. The Committee may impose such restrictions on any Shares acquired pursuant to the exercise of an
Option granted under this Article 6 as it may deem advisable, including, without limitation, minimum holding period requirements,
or restrictions under applicable federal securities laws, requirements of any stock exchange or market upon which such Shares are
then listed and/or traded, or any blue sky or state securities laws applicable to such Shares.

 

    	 	11	 

     

    

 

6.8         Termination
of Employment. Each Participant’s Award Agreement shall set forth the extent to which the Participant shall have the
right to exercise the Option following termination of the Participant’s employment or provision of services to the Company,
its Affiliates, and/or its Subsidiaries, as the case may be. Such provisions shall be determined in the sole discretion of the
Committee, shall be included in the Award Agreement entered into with each Participant, need not be uniform among all Options issued
pursuant to this Article 6, and may reflect distinctions based on the reasons for termination. Unless otherwise provided in an
Award Agreement, the right to exercise an Option shall terminate on the date the Participant’s employment, or service on
the Board or to the Company, terminates.

 

6.9         Notification
of Disqualifying Disposition. If any Participant shall make any disposition of Shares issued pursuant to the exercise of an
ISO under the circumstances described in Code Section 421(b) (relating to certain disqualifying dispositions), such Participant
shall notify the Company of such disposition within ten (10) days thereof.

 

6.10       Limits
on Incentive Stock Options. The aggregate fair market value of all Shares with respect to which ISOs are exercisable for the
first time by a Participant in any one calendar year, under this Plan or any other stock option plan maintained by the Company
(or by any subsidiary or parent of the Company), shall not exceed $100,000. The fair market value of such Shares shall be the mean
closing price of the Shares as reported on the Market on the date the related ISO is granted.

 

		Article 7.	Stock Appreciation Rights

 

7.1         Grant
of SARs. Subject to the terms and conditions of this Plan, SARs may be granted to Participants at any time and from time to
time as shall be determined by the Committee. Subject to the terms and conditions of this Plan, the Committee shall have complete
discretion in determining the number of SARs granted to each Participant and, consistent with the provisions of this Plan, in determining
the terms and conditions pertaining to such SARs. The Grant Price for each grant of an SAR shall be determined by the Committee
and shall be specified in the Award Agreement; provided, however, the Grant Price on the Grant Date must be at least equal to one
hundred percent (100%) of the Market Price of the Shares as determined on the Grant Date.

 

7.2         SAR
Agreement. Each SAR Award shall be evidenced by an Award Agreement that shall specify the Grant Price, the term of the SAR,
and such other provisions as the Committee shall determine.

 

7.3         Term
of SAR. The term of an SAR granted under this Plan shall be determined by the Committee, in its sole discretion, and except
as determined otherwise by the Committee and specified in the SAR Award Agreement, no SAR shall be exercisable later than the tenth
(10th) anniversary date of its grant. Notwithstanding the foregoing, for SARs granted to Participants outside the United
States, the Committee has the authority to grant SARs that have a term greater than ten (10) years.

 

    	 	12	 

     

    

 

7.4         Exercise
of SARs. SARs may be exercised upon whatever terms and conditions the Committee, in its sole discretion, imposes.

 

7.5         Settlement
of SARs. Upon the exercise of an SAR, a Participant shall be entitled to receive payment from the Company in an amount determined
by multiplying:

 

		(a)	The excess of the Market Price of a Share on the date of
exercise over the Grant Price; by

 

		(b)	The number of Shares with respect to which the SAR is exercised.

 

At the discretion of the Committee, the payment
upon SAR exercise may be in cash, Shares, or any combination thereof, or in any other manner approved by the Committee in its sole
discretion. The Committee’s determination regarding the form of SAR payout shall be set forth in the Award Agreement pertaining
to the grant of the SAR.

 

7.6         Termination
of Employment. Each Award Agreement shall set forth the extent to which the Participant shall have the right to exercise the
SAR following termination of the Participant’s employment with or provision of services to the Company, its Affiliates, and/or
its Subsidiaries, as the case may be. Such provisions shall be determined in the sole discretion of the Committee, shall be included
in the Award Agreement entered into with Participants, need not be uniform among all SARs issued pursuant to this Plan, and may
reflect distinctions based on the reasons for termination. Unless otherwise provided in an Award Agreement, the right to exercise
the SAR shall terminate on the date the Participant’s employment, or service on the Board or to the Company, terminates.

 

7.7         Other
Restrictions. The Committee shall impose such other conditions and/or restrictions on any Shares received upon exercise of
an SAR granted pursuant to this Plan as it may deem advisable or desirable. These restrictions may include, but shall not be limited
to, a requirement that the Participant hold the Shares received upon exercise of an SAR for a specified period of time.

 

		Article 8.	Restricted Stock and Restricted Stock Units

 

8.1         Grant
of Restricted Stock or Restricted Stock Units. Subject to the terms and provisions of this Plan, the Committee, at any time
and from time to time, may grant Shares of Restricted Stock and/or Restricted Stock Units to Participants in such amounts as the
Committee shall determine. Restricted Stock Units shall be similar to Restricted Stock except that no Shares are actually awarded
to the Participant on the Grant Date.

 

8.2         Restricted
Stock or Restricted Stock Unit Agreement. Each Restricted Stock and/or Restricted Stock Unit grant shall be evidenced by an
Award Agreement that shall specify the Period(s) of Restriction, the number of Shares of Restricted Stock or the number of Restricted
Stock Units granted, and such other provisions as the Committee shall determine.

 

    	 	13	 

     

    

 

8.3         Other
Restrictions. The Committee shall impose such other conditions and/or restrictions on any Shares of Restricted Stock or Restricted
Stock Units granted pursuant to this Plan as it may deem advisable including, without limitation, restrictions based upon the achievement
of specific Performance Measures or other performance goals, time-based restrictions on vesting following the attainment of the
Performance Measures or other performance goals, time-based restrictions, and/or restrictions under applicable laws or under the
requirements of any stock exchange or market upon which such Shares are listed or traded, or holding requirements or sale restrictions
placed on the Shares by the Company upon vesting of such Restricted Stock or Restricted Stock Units.

 

To the extent deemed appropriate by the Committee,
the Company may retain the certificates representing Shares of Restricted Stock in the Company’s possession until such time
as all conditions and/or restrictions applicable to such Shares have been satisfied or lapse.

 

Except as otherwise provided in this Article
8, Shares of Restricted Stock covered by each Restricted Stock Award shall become freely transferable by the Participant after
all conditions and restrictions applicable to such Shares have been satisfied or lapse (including satisfaction of any applicable
tax withholding obligations), and Restricted Stock Units shall be paid in cash, Shares, or a combination of cash and Shares as
the Committee, in its sole discretion shall determine.

 

8.4         Certificate
Legend. In addition to any legends placed on certificates pursuant to Section 8.3, each certificate representing Shares
of Restricted Stock granted pursuant to this Plan may bear a legend such as the following or as otherwise determined by the Committee
in its sole discretion:

 

The sale or transfer
of Shares of stock represented by this certificate, whether voluntary, involuntary, or by operation of law, is subject to certain
restrictions on transfer as set forth in the Cinedigm Corp. 2017 Incentive Plan, and in the associated Award Agreement.
A copy of this Plan and such Award Agreement may be obtained from Cinedigm Corp..

 

8.5         Voting
Rights. Unless otherwise determined by the Committee and set forth in a Participant’s Award Agreement, to the extent
permitted or required by law, as determined by the Committee, Participants holding Shares of Restricted Stock granted hereunder
may be granted the right to exercise full voting rights with respect to those Shares during the Period of Restriction. A Participant
shall have no voting rights with respect to any Restricted Stock Units granted hereunder.

 

8.6         Termination
of Employment. Each Award Agreement shall set forth the extent to which the Participant shall have the right to retain Restricted
Stock and/or Restricted Stock Units following termination of the Participant’s employment with or provision of services to
the Company, its Affiliates, and/or its Subsidiaries, as the case may be. Such provisions shall be determined in the sole discretion
of the Committee, shall be included in the Award Agreement entered into with each Participant, need not be uniform among all Shares
of Restricted Stock or Restricted Stock Units issued pursuant to this Plan, and may reflect distinctions based on the reasons for
termination.

 

    	 	14	 

     

    

 

8.7         Section
83(b) Election. The Committee may provide in an Award Agreement that the Award of Restricted Stock is conditioned upon the
Participant making or refraining from making an election with respect to the Award under Code Section 83(b). If a Participant makes
an election pursuant to Code Section 83(b) concerning a Restricted Stock Award, the Participant shall be required to file promptly
a copy of such election with the Company.

 

		Article 9.	Performance Units/Performance Shares

 

9.1         Grant
of Performance Units/Performance Shares. Subject to the terms and provisions of this Plan, the Committee, at any time and from
time to time, may grant Performance Units and/or Performance Shares to Participants in such amounts and upon such terms as the
Committee shall determine. Performance Units and Performance Shares that are earned (as described in Section 9.3) may be subject
to vesting requirements as set forth in the applicable Award Agreement. Except as the Committee may otherwise provide in an Award
Agreement, Performance Units and Performance Shares may not vest prior to the expiration of at least one (1) year of a Performance
Period.

 

9.2         Value
of Performance Units/Performance Shares. Each Performance Unit shall have an initial value that is established by the
Committee at the time of grant. Each Performance Share shall have an initial value equal to the Marker Price of a Share on the
Grant Date. The Committee shall set Performance Measures in its discretion which, depending on the extent to which they are met,
will determine the value and/or number of Performance Units/Performance Shares that may be earned by the Participant.

 

9.3         Earning
of Performance Units/Performance Shares. Subject to the terms of this Plan, after the applicable Performance Period and
vesting period, if any, have ended, the holder of Performance Units/Performance Shares shall be entitled to receive payout on the
value and number of Performance Units/Performance Shares earned by the Participant over the Performance Period, to be determined
as a function of the extent to which the corresponding Performance Measures have been achieved.

 

9.4         Form
and Timing of Payment of Performance Units/Performance Shares. Payment of earned and vested Performance Units/Performance Shares
shall be as determined by the Committee and as evidenced in the Award Agreement. Subject to the terms of this Plan, the
Committee, in its sole discretion, may pay earned and vested Performance Units/Performance Shares in the form of cash or in
Shares (or in a combination thereof). Any Shares may be granted subject to any restrictions deemed appropriate by the Committee.
The determination of the Committee with respect to the form of payout of such Awards shall be set forth in the Award Agreement
pertaining to the grant of the Award.

 

9.5          Termination
of Employment. Each Award Agreement shall set forth the extent to which the Participant shall have the right to retain Performance
Units and/or Performance Shares following termination of the Participant’s employment with the Company, its Affiliates, and/or
its Subsidiaries, as the case may be. Such provisions shall be determined in the sole discretion of the Committee, shall be included
in the Award Agreement entered into with each Participant, need not be uniform among all Awards of Performance Units or Performance
Shares issued pursuant to this Plan, and may reflect distinctions based on the reasons for termination.

 

    	 	15	 

     

    

 

		Article 10.	Cash-Based Awards and Other Stock-Based Awards

 

10.1       Grant
of Cash-Based Awards. Subject to the terms and provisions of the Plan, the Committee, at any time and from time to time, may
grant Cash-Based Awards to Participants in such amounts and upon such terms as the Committee may determine.

 

10.2       Other
Stock-Based Awards. The Committee may grant other types of equity-based or equity-related Awards not otherwise described by
the terms of this Plan (including the grant or offer for sale of unrestricted Shares) in such amounts and subject to such terms
and conditions, as the Committee shall determine. Such Awards may involve the transfer of actual Shares to Participants, or payment
in cash or otherwise of amounts based on the value of Shares and may include, without limitation, Awards designed to comply with
or take advantage of the applicable local laws of jurisdictions other than the United States.

 

10.3       Value
of Cash-Based and Other Stock-Based Awards. Each Cash-Based Award shall specify a payment amount or payment range as determined
by the Committee. Each Other Stock-Based Award shall be expressed in terms of Shares or units based on Shares, as determined by
the Committee. The Committee may establish performance goals in its discretion. If the Committee exercises its discretion to establish
performance goals, the number and/or value of Cash-Based Awards or Other Stock-Based Awards that will be paid out to the Participant
will depend on the extent to which the performance goals are met.

 

10.4       Payment
of Cash-Based Awards and Other Stock-Based Awards. Payment, if any, with respect to a Cash-Based Award or an Other Stock-Based
Award shall be made in accordance with the terms of the Award, in cash or Shares as the Committee determines.

 

10.5       Termination
of Employment. The Committee shall determine the extent to which the Participant shall have the right to receive Cash-Based
Awards or Other Stock-Based Awards following termination of the Participant’s employment with or provision of services to
the Company, its Affiliates, and/or its Subsidiaries, as the case may be. Such provisions shall be determined in the sole discretion
of the Committee, such provisions shall be included in the Award Agreement entered into with each Participant, but need not be
uniform among all Awards of Cash-Based Awards or Other Stock-Based Awards issued pursuant to the Plan, and may reflect distinctions
based on the reasons for termination.

 

		Article 11.	Transferability of Awards

 

11.1       Transferability.
Except as provided in Section 11.2 below, during a Participant’s lifetime, his or her Awards shall be exercisable only
by the Participant (except Options and SARs may be exercised by the Participant’s duly appointed personal representative).
Awards shall not be transferable other than by will or the laws of descent and distribution; no Awards shall be subject, in whole
or in part, to attachment, execution, or levy of any kind; and any purported transfer in violation hereof shall be null and void.
The Committee may establish such procedures as it deems appropriate for a Participant to designate a beneficiary to whom any amounts
payable or Shares deliverable in the event of, or following, the Participant’s death, may be provided.

 

    	 	16	 

     

    

 

11.2      Committee
Action. The Committee may, in its discretion, determine that notwithstanding Section 11.1, any or all Awards (other than ISOs)
shall be transferable to and exercisable by such transferees, and subject to such terms and conditions, as the Committee may deem
appropriate; provided, however, no Award may be transferred for value (as defined in the General Instructions to Form S-8).

 

		Article 12.	Performance Measures

 

12.1      Performance
Measures. The Performance Measures upon which the payment or vesting of an Award to a Covered Employee that is intended to
qualify as Performance-Based Compensation shall be limited to the following:

 

		(a)	Net earnings or Net Income (before or after taxes);

 

		(b)	Earnings per share (basic or diluted);

 

		(c)	Net sales or revenue growth;

 

		(d)	Net operating profit;

 

		(e)	Return measures (including, but not limited to, return
on assets, capital, invested capital, equity, sales, or revenue);

 

		(f)	Cash flow (including, but not limited to, throughput, operating
cash flow, free cash flow, cash flow return on equity, and cash flow return on investment);

 

		(g)	Earnings before or after taxes, interest, depreciation,
and/or amortization;

 

		(h)	Earnings before taxes;

 

		(i)	Gross or operating margins;

 

		(j)	Corporate value measures;

 

		(k)	Capital expenditures;

 

		(l)	Unit volumes;

 

		(m)	Productivity ratios;

 

		(n)	Share price (including, but not limited to, growth measures
and total shareholder return);

 

		(o)	Cost or expense;

 

    	 	17	 

     

    

 

		(p)	Margins (including, but not limited to, debt or profit);

 

		(q)	Operating efficiency;

 

		(r)	Market share;

 

		(s)	Customer satisfaction;

 

		(t)	Working capital targets or any element thereof;

 

		(u)	Economic value added or EVA® (net operating profit
after tax minus the sum of capital multiplied by the cost of capital);

 

		(v)	Health, safety and environmental performance;

 

		(w)	Corporate advocacy metrics;

 

		(x)	Strategic milestones (including, but not limited to, debt
reduction, improvement of cost of debt, equity or capital, completion of projects, achievement of synergies or integration objectives,
or improvements to credit rating, inventory turnover, weighted average cost of capital, implementation of significant new processes,
productivity or production, product quality, and any combination of the foregoing);

 

		(y)	Strategic sustainability metrics (including, but not limited
to, corporate governance, enterprise risk management, employee development, and portfolio restructuring); and

 

		(z)	Stockholder equity or net worth.

 

Any one or more Performance Measure(s) may be
used to measure the performance of any Participant, the Company, Subsidiary, and/or Affiliate as a whole or any business unit or
line of business of the Company, Subsidiary, and/or Affiliate or any combination thereof, as the Committee may deem appropriate,
or any of the above Performance Measures on an absolute, gross, total, net per share, average, adjusted or relative basis (or measure
based on changes therein), including, as compared to the performance of a group of comparator companies, or published or special
index that the Committee, in its sole discretion, deems appropriate, or the Company may select Performance Measure (n) above as
compared to various stock market indices. The Committee also has the authority to provide for accelerated vesting of any Award
based on the achievement of performance goals pursuant to the Performance Measures specified in this Article 12.

 

    	 	18	 

     

    

 

12.2       Evaluation
of Performance. The Committee may provide in any such Award that any evaluation of performance may include or exclude any of
the following events that occurs during a Performance Period: (a) asset write-downs, (b) litigation or claim judgments or settlements,
(c) the effect of changes in tax laws, accounting principles, or other laws or provisions affecting reported results, (d) any reorganization
and restructuring programs, (e) unusual and/or nonrecurring items as described in management’s discussion and analysis of
financial condition and results of operations appearing in the Company’s annual report to shareholders for the applicable
year, (f) acquisitions or divestitures, and (g) foreign exchange gains and losses. To the extent such inclusions or exclusions
affect Awards to Covered Employees, they shall be prescribed in a form that meets the requirements of Code Section 162(m) for deductibility.

 

12.3       Adjustment
of Performance-Based Compensation.  The Committee shall not use discretion to adjust the payout of Performance-Based Compensation
upwards once the Performance Measures have been established. The Committee shall retain the discretion to adjust such Awards downward,
either on a formula or discretionary basis or any combination, as the Committee determines.

 

12.4       Committee
Discretion. In the event that applicable tax and/or securities laws change to permit Committee discretion to alter the governing
Performance Measures without obtaining shareholder approval of such changes, the Committee shall have sole discretion to make such
changes without obtaining shareholder approval. In addition, in the event that the Committee determines that it is advisable to
grant Awards that are not Performance-Based Compensation, the Committee may make such grants without satisfying the requirements
of Code Section 162(m) and base vesting on Performance Measures other than those set forth in Section 12.1.

 

		Article
                           13.	Nonemployee Director Awards

 

The Board or Committee shall determine all Nonemployee
Director Awards. The terms and conditions of any grant to any such Nonemployee Director shall be set forth in an Award Agreement.

 

		Article
                           14.	Minimum Vesting of Share-Based Awards

 

Notwithstanding any other provision of this Plan
to the contrary, Awards granted pursuant to Article 6, 7 and 8 of this Plan shall be subject to a minimum vesting period of at
least one (1) year, provided, however, (a) such vesting may be cliff or graded (starting no earlier than one (1) year after
grant), (b) the Committee may provide for earlier vesting as specified in an Award Agreement, and (c) no more than five percent
(5%) of the maximum number of Shares authorized for issuance under this Plan pursuant to Section 4.1(a) may be granted with a minimum
vesting period of less than one (1) year.

 

		Article
                           15.	Dividend Equivalents

 

Any Participant selected by the Committee may
be granted dividend equivalents based on the dividends declared on Shares that are subject to any Award, to be credited as of dividend
payment dates, during the period between the date the Award is granted and the date the Award is exercised, vests or expires, as
determined by the Committee. Such dividend equivalents shall be converted to cash or additional Shares by such formula and at such
time and subject to such limitations as may be determined by the Committee. Notwithstanding the foregoing, for all Awards, the
payment of dividends prior to an Award becoming vested shall be prohibited, and the Committee shall determine the extent to which
dividends may accrue during the vesting period and become payable upon vesting. Dividends and dividend equivalents may not be paid
on unexercised Options and SARs.

 

    	 	19	 

     

    

 

		Article
                           16.	Beneficiary Designation

 

Each Participant under this Plan may, from time
to time, name any beneficiary or beneficiaries (who may be named contingently or successively) to whom any benefit under this Plan
is to be paid in case of his death before he receives any or all of such benefit. Each such designation shall revoke all prior
designations by the same Participant, shall be in a form prescribed by the Committee, and will be effective only when filed by
the Participant in writing with the Company, or the Company’s designated agent, during the Participant’s lifetime.
In the absence of any such beneficiary designation, benefits remaining unpaid or rights remaining unexercised at the Participant’s
death shall be paid to or exercised by the Participant’s executor, administrator, or legal representative.

 

		Article
                           17.	Rights of Participants

 

17.1       Employment.
Nothing in this Plan or an Award Agreement shall interfere with or limit in any way the right of the Company, its Affiliates, and/or
its Subsidiaries, to terminate any Participant’s employment, or service on the Board or to the Company, at any time or for
any reason not prohibited by law, nor confer upon any Participant any right to continue his employment, or service as a Nonemployee
Director or Third Party Service Provider, for any specified period of time.

 

Neither an Award nor any benefits arising under
this Plan shall constitute an employment contract with the Company, its Affiliates, and/or its Subsidiaries and, accordingly, subject
to Articles 3 and 19, this Plan and the benefits hereunder may be terminated at any time in the sole and exclusive discretion
of the Committee without giving rise to any liability on the part of the Company, its Affiliates, and/or its Subsidiaries.

 

17.2       Participation.
No individual shall have the right to be selected to receive an Award under this Plan, or, having been so selected, to be selected
to receive a future Award.

 

17.3       Rights
as a Shareholder. Except as otherwise provided herein, a Participant shall have none of the rights of a shareholder with respect
to Shares covered by any Award until the Participant becomes the record holder of such Shares.

 

		Article
                           18.	Change of Control

 

18.1       Change
of Control of the Company. Notwithstanding any other provision of this Plan to the contrary, the provisions of this Article
18 shall apply in the event of a Change of Control, unless otherwise determined by the Committee in connection with the grant of
an Award as reflected in the applicable Award Agreement or severance compensation agreement.

 

    	 	20	 

     

    

 

(a)            If,
upon a Change of Control, a Participant receives a new Award which qualifies as a “Replacement Award” (as defined below),
the Replacement Award shall continue subject to the terms of the Replacement Award.

 

(b)            If,
upon a Change of Control that results in the Company’s Shares no longer being traded on the NASDAQ Global Market or another
established securities market and no Replacement Award is granted to a Participant, the unvested portion of an Award whose vesting
is based only on a service requirement shall become immediately vested and exercisable, as applicable, upon the Change of Control.

 

(c)            Notwithstanding
subparagraph (a) and except as may be otherwise provided in an Award Agreement, upon a Change of Control, with respect to Awards
that are Performance Shares or Performance Units issued pursuant to Article 9 of the Plan, a pro-rata portion of the Award shall
be immediately earned, vested and payable; such portion shall be determined based on the portion of the Performance Period that
has elapsed as of (i) the date of the Change of Control, if the Performance Measure is based on stock price, or (ii) the end of
the last full calendar quarter preceding or commensurate with the date of the Change of Control if the Performance Measure is not
based on stock price (in each case, the “Adjusted Measurement Date”). The Award amount that will be considered earned
and payable will be calculated based on the higher of target or actual performance measured as of the Adjusted Measurement Date.
To the extent any earned Awards that are Performance Shares or Performance Units have not been paid prior to the Change of Control
because they are subject to vesting, such earned but unvested Awards shall become immediately vested, and payable upon the Change
of Control.

 

(d)            Except
as provided in subparagraph (c) or as otherwise provided in an Award Agreement, if, following a Change of Control, the Company’s
Shares continue to be traded on the NASDAQ Global Market or another established securities market, outstanding Awards shall continue
in effect and be treated as Replacement Awards as described in subparagraph (a).

 

(e)            Notwithstanding
any of subparagraphs (a), (b) or (d) of this Section 18.1, the Committee may, in its sole discretion, determine that any or all
outstanding Awards granted under the Plan, whether or not exercisable, will be canceled and terminated, and that in connection
with such cancellation and termination, the holder of such Award may receive for each Share subject to such Awards a cash payment
(or the delivery of shares of stock, other securities or a combination of cash, stock and securities equivalent to such cash payment)
equal to the difference, if any, between the consideration received by shareholders of the Company in respect of a Share in connection
with such transaction and the purchase price per share, if any, under the Award multiplied by the number of Shares subject to such
Award; provided that if such product is zero or less or to the extent that the Award is not then exercisable, the Awards will be
canceled and terminated without payment therefor.

 

    	 	21	 

     

    

 

18.2       Replacement
Awards. An Award shall be considered a Replacement Award if: (i) it has a value at least equal to the value of the Award it
is replacing as determined by the Committee in its sole discretion; (ii) it relates to publicly traded equity securities of the
Company or its successor in the Change of Control or another entity that is affiliated with the Company or its successor following
the Change of Control; and (iii) its other terms and conditions are not less favorable to the Participant than the terms and conditions
of the Award it is replacing (including the provisions that would apply in the event of a subsequent Change of Control). Without
limiting the generality of the foregoing, the Replacement Award may take the form of a continuation of the Award it is replacing
if the requirements of the preceding sentence are satisfied. The determination of whether the conditions of this Section 18.2 are
satisfied shall be made by the Committee, as constituted immediately before the Change of Control, in its sole discretion.

 

18.3       Reduction
of Excess Parachute Payments. Except as may be provided in a severance compensation agreement between the Company and the Participant,
if, in connection with a Change of Control, a Participant’s Award will cause the Participant to be liable for federal excise
tax under Code Section 4999 levied on certain “excess parachute payments” as defined in Code Section 280G (“Excise
Tax”), then the payments made pursuant to the Awards shall be reduced (or repaid to the Company, if previously paid or provided)
as provided below:

 

(a)          If
the payments due upon a Change of Control under this Plan and any other agreement between a Participant and the Company, exceed
2.99 times the Participant’s “base amount,” as defined in Code Section 280G, and it is determined that any Excise
Tax is payable by a Participant, the Participant shall receive either (i) all payments otherwise due; or (ii) the reduced payment
amount described in the next sentence, whichever will provide the Participant with the greater after-tax economic benefit taking
into account for these purposes any applicable Excise Tax. To the extent necessary, and in compliance with the Code, a reduced
payment amount shall be calculated by reducing the payments to the minimum extent necessary so that no portion of any payment,
as so reduced or repaid, constitutes an excess parachute payment. .

 

(b)          Whether
payments are to be reduced pursuant to this Section 18.3, and the extent to which they are to be so reduced, will be determined
solely by the Company in good faith and the Company will notify the Participant in writing of its determination.

 

(c)          In
no event shall a Participant be entitled to receive any kind of gross-up payment or Excise Tax reimbursement from the Company.

 

		Article
                           19.	Amendment, Modification, Suspension, and Termination

 

19.1       Amendment,
Modification, Suspension, and Termination. Subject to Section 19.3, the Committee may, at any time and from time to time,
alter, amend, modify, suspend, or terminate this Plan and any Award Agreement in whole or in part; provided, however, that,
(i) without the prior approval of the Company’s shareholders and except as provided in Section 4.3, Options or SARs issued
under this Plan will not be repriced, repurchased (including a cash buyout), replaced, or regranted through cancellation, or by
lowering the Option Price of a previously granted Option or the Grant Price of a previously granted SAR, (ii) any amendment of
the Plan must comply with the rules of the Market, and (iii) no material amendment of this Plan shall be made without shareholder
approval if shareholder approval is required by law, regulation, or stock exchange rule.

 

    	 	22	 

     

    

 

19.2      Adjustment
of Awards Upon the Occurrence of Certain Unusual or Nonrecurring Events. Subject to the requirements of Sections 12.2 and 12.3,
the Committee may make adjustments in the terms and conditions of, and the criteria included in, Awards in recognition of unusual
or nonrecurring events (including, without limitation, the events described in Section 4.3 hereof) affecting the Company or the
financial statements of the Company or of changes in applicable laws, regulations, or accounting principles, whenever the Committee
determines that such adjustments are appropriate in order to prevent unintended dilution or enlargement of the benefits or potential
benefits intended to be made available under this Plan. The determination of the Committee as to the foregoing adjustments, if
any, shall be conclusive and binding on Participants under this Plan.

 

19.3      Awards
Previously Granted. Notwithstanding any other provision of this Plan to the contrary (other than Section 19.4), no termination,
amendment, suspension, or modification of this Plan or an Award Agreement shall adversely affect in any material way any Award
previously granted under this Plan, without the written consent of the Participant holding such Award.

 

19.4      Amendment
to Conform to Law. Notwithstanding any other provision of this Plan to the contrary, the Committee may amend the Plan or an
Award Agreement, to take effect retroactively or otherwise, as deemed necessary or advisable for the purpose of conforming the
Plan or an Award Agreement to any present or future law relating to plans of this or similar nature (including, but not limited
to, Code Section 409A), and to the administrative regulations and rulings promulgated thereunder. By accepting an Award under this
Plan, a Participant agrees to any amendment made pursuant to this Section 19.4 to any Award granted under the Plan without further
consideration or action.

 

19.5      Compliance
with the Exchange Act. It is the Company's intent that the Plan comply in all respects with Rule 16b-3 under the Exchange Act
and any related regulations. If any provision of this Plan is later found not to be in compliance with such Rule and regulations,
the provisions shall be deemed null and void. All grants to, and exercises of Options by Insiders under this Plan shall be executed
in accordance with the requirements of Section 16 of the Exchange Act and regulations promulgated thereunder.

 

		Article
                           20.	Withholding

 

20.1      Tax
Withholding. The Company shall have the power and the right to deduct or withhold from any amounts due and owing to the Participant,
or require a Participant to remit to the Company, up to the maximum statutory amount to satisfy federal, state, and local taxes,
domestic or foreign, required by law or regulation to be withheld with respect to any taxable event arising as a result of this
Plan.

 

20.2      Share
Withholding. With respect to withholding required upon the lapse of restrictions on Restricted Stock and Restricted Stock Units,
or upon the achievement of Performance Measures related to Performance Shares, or any other taxable event arising as a result of
an Award granted hereunder, the Committee may establish provisions in the applicable Award Agreements to satisfy the withholding
requirement, in whole or in part, by having the Company withhold whole Shares having a Market Price on the date the tax is to be
determined up to the maximum statutory total tax withholding that could be imposed on the transaction.

 

    	 	23	 

     

    

 

		Article
                           21.	Successors

 

All obligations of the Company under this Plan
with respect to Awards granted hereunder shall be binding on any successor to the Company, regardless of whether the existence
of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of all or substantially
all of the business and/or assets of the Company.

 

		Article
                           22.	General Provisions

 

22.1      Forfeiture
Events. Any Awards granted under the Plan will be subject to recoupment in
accordance with any clawback policy that the Company currently has in effect, or is required to adhere to, adopt or modify, pursuant
to the listing standards of any national securities exchange or association on which the Company’s securities are listed
or as is otherwise required by the Dodd-Frank Wall Street Reform and Consumer Protection Act or the Sarbanes-Oxley Act of 2002,
or other applicable law (“Clawback Policy”). In addition, the Committee or the Board may impose such clawback, suspension,
restriction, recovery, or recoupment provisions in an Award Agreement as the Committee or the Board determines necessary or appropriate,
including, but not limited to, a reacquisition right in respect of previously acquired Shares or other cash or property, including
the gains realized thereon, as set forth in the Award Agreement. These conditions may include, without limitation, actions by the
Participant which constitute a conflict of interest with the Company, are prejudicial to the Company’s interests, or are
in violation of any non-compete agreement or obligation, any confidentiality agreement or obligation, the Company’s applicable
policies or the Participant’s terms and conditions of employment. The Committee may require, upon exercise, payment or delivery
pursuant to an award, that the Participant certify in a manner acceptable to the Company that he or she is in compliance with the
terms and conditions of the Award. No recovery of compensation under this Section will be an event giving rise to a right to resign
for “good reason” or “constructive termination” (or similar term) under any agreement or otherwise with
the Company.

 

22.2      Legend.
The certificates for Shares may include any legend which the Committee deems appropriate to reflect any restrictions on transfer
of such Shares.

 

22.3      Gender
and Number. Except where otherwise indicated by the context, any masculine term used herein also shall include the feminine,
the plural shall include the singular, and the singular shall include the plural.

 

22.4      Severability.
In the event any provision of this Plan shall be held illegal or invalid for any reason, the illegality or invalidity shall not
affect the remaining parts of this Plan, and this Plan shall be construed and enforced as if the illegal or invalid provision had
not been included.

 

    	 	24	 

     

    

 

22.5      Requirements
of Law. The granting of Awards and the issuance of Shares under this Plan shall be subject to all applicable laws, rules, and
regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required.

 

22.6      Delivery
of Title. The Company shall have no obligation to issue or deliver evidence of title for Shares issued under this Plan prior
to:

 

		(a)	Obtaining any approvals from governmental agencies that
the Company determines are necessary or advisable; and

 

		(b)	Completion of any registration or other qualification
of the Shares under any applicable national or foreign law or ruling of any governmental body that the Company determines to be
necessary or advisable.

 

22.7      Inability
to Obtain Authority. The inability of the Company to obtain authority from any regulatory body having jurisdiction, which authority
is deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any Shares hereunder, shall relieve
the Company of any liability in respect of the failure to issue or sell such Shares as to which such requisite authority shall
not have been obtained.

 

22.8      Investment
Representations. The Committee may require any individual receiving Shares pursuant to an Award under this Plan to represent
and warrant in writing that the individual is acquiring the Shares for investment and without any present intention to sell or
distribute such Shares.

 

22.9      Employees
Based Outside the United States. Notwithstanding any provision of this Plan to the contrary, in order to comply with the laws
in other countries in which the Company, its Affiliates, and/or its Subsidiaries operate or have Employees, Nonemployee Directors,
or Third Party Service Providers, the Committee, in its sole discretion, shall have the power and authority to:

 

		(a)	Determine which Affiliates and Subsidiaries shall be covered
by this Plan;

 

		(b)	Determine which Employees, Nonemployee Directors, and/or
Third Party Service Providers outside the United States are eligible to participate in this Plan;

 

		(c)	Modify the terms and conditions of any Award granted to
Employees, Nonemployee Directors, and/or Third Party Service Providers outside the United States to comply with applicable foreign
laws;

 

		(d)	Establish subplans and modify exercise procedures and other
terms and procedures, to the extent such actions may be necessary or advisable. Any subplans and modifications to Plan terms and
procedures established under this Section 21.9 by the Committee shall be attached to this Plan document as appendices; and

 

    	 	25	 

     

    

 

		(e)	Take any action, before or after an Award is made, that
it deems advisable to obtain approval or comply with any necessary local government regulatory exemptions or approvals.

 

Notwithstanding the above, the Committee may
not take any actions hereunder, and no Awards shall be granted, that would violate applicable law.

 

22.10    Uncertificated
Shares. To the extent that this Plan provides for issuance of certificates to reflect the transfer of Shares, the transfer
of such Shares may be effected on a noncertificated basis, to the extent not prohibited by applicable law or the rules of any stock
exchange.

 

22.11    Unfunded
Plan. Participants shall have no right, title, or interest whatsoever in or to any investments that the Company, and/or its
Subsidiaries, and/or its Affiliates may make to aid it in meeting its obligations under this Plan. Nothing contained in this Plan,
and no action taken pursuant to its provisions, shall create or be construed to create a trust of any kind, or a fiduciary relationship
between the Company and any Participant, beneficiary, legal representative, or any other individual. To the extent that any individual
acquires a right to receive payments from the Company, its Subsidiaries, and/or its Affiliates under this Plan, such right shall
be no greater than the right of an unsecured general creditor of the Company, a Subsidiary, or an Affiliate, as the case may be.
All payments to be made hereunder shall be paid from the general funds of the Company, a Subsidiary, or an Affiliate, as the case
may be and no special or separate fund shall be established and no segregation of assets shall be made to assure payment of such
amounts except as expressly set forth in this Plan.

 

22.12    No
Fractional Shares. No fractional Shares shall be issued or delivered pursuant to this Plan or any Award. The Committee shall
determine whether cash, Awards, or other property shall be issued or paid in lieu of fractional Shares or whether such fractional
Shares or any rights thereto shall be forfeited or otherwise eliminated.

 

22.13    Retirement
and Welfare Plans. Neither Awards made under this Plan nor Shares or cash paid pursuant to such Awards, except pursuant to
Covered Employee annual incentive awards, may be included as “compensation” for purposes of computing the benefits
payable to any Participant under the Company’s or any Subsidiary’s or Affiliate’s retirement plans (both qualified
and non-qualified) or welfare benefit plans unless such other plan expressly provides that such compensation shall be taken into
account in computing a Participant’s benefit.

 

22.14    Deferred
Compensation. If any Award would be considered non-qualified deferred compensation as defined under Code Section 409A and if
this Plan fails to meet the requirements of Code Section 409A with respect to such Award, then such Award shall be null and void.
However, the Committee may permit deferrals of compensation pursuant to the terms of a Participant’s Award Agreement, a separate
plan or a subplan which meets the requirements of Code Section 409A and any related guidance. Additionally, to the extent any Award
is subject to Code Section 409A, notwithstanding any provision herein to the contrary, the Plan does not permit the acceleration
or delay of the time or schedule of any distribution related to such Award, except as permitted by Code Section 409A, the regulations
thereunder, and/or the Secretary of the United States Treasury. To the extent the Plan or an Award Agreement is required to be
interpreted under Code Section 409A, such interpretation shall be consistent, to the extent feasible as determined by the Company,
with the intent to not cause the imposition of penalties under Code Section 409A.

 

    	 	26	 

     

    

 

 

22.15    Nonexclusivity
of this Plan. The adoption of this Plan shall not be construed as creating any limitations on the power of the Board or Committee
to adopt such other compensation arrangements as it may deem desirable for any Participant.

 

22.16    No
Constraint on Corporate Action. Nothing in this Plan shall be construed to: (i) limit, impair, or otherwise affect the Company’s
or a Subsidiary’s or an Affiliate’s right or power to make adjustments, reclassifications, reorganizations, or changes
of its capital or business structure, or to merge or consolidate, or dissolve, liquidate, sell, or transfer all or any part of
its business or assets; or (ii) limit the right or power of the Company or a Subsidiary or an Affiliate to take any action which
such entity deems to be necessary or appropriate.

 

22.17    Governing
Law. The Plan and each Award Agreement shall be governed by the laws of the State of Delaware, excluding any conflicts or choice
of law rule or principle that might otherwise refer construction or interpretation of this Plan to the substantive law of another
jurisdiction. Unless otherwise provided in the Award Agreement, recipients of an Award under this Plan are deemed to submit to
the exclusive jurisdiction and venue of the federal or state courts of Delaware, to resolve any and all issues that may arise out
of or relate to this Plan or any related Award Agreement.

 

22.18    Section
162(m). It is the intention of the Company that, unless otherwise provided by the Committee, awards determined in accordance
with this Plan shall be excluded from the deduction limitations contained in Code Section 162(m). Therefore, subject to the Committee’s
determination that an Award need not meet the Performance-Based Compensation exception contained in Code section 162(m), if any
Plan provision is found not to be in compliance with such exception, that provision shall be deemed amended so that the Plan does
so comply to the extent permitted by law and deemed advisable by the Committee, and in all such events the Plan shall be construed
in favor of its meeting the Performance-Based Compensation exception contained in Code Section 162(m).

 

As evidence of its adoption of this amendment
and restatement of the Plan, the Company has caused this document to be executed by its duly authorized officer the 31st
day of August, 2017.

 

	 	CINEDIGM CORP.
	 	 	 
	 	By:  	/s/ Christopher J. McGurk
	 	 	Name: Christopher J. McGurk
	 	 	Title: Chief Executive Officer

 

    	 	27

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00274-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00274-of-00352.parquet"}]]