Document:

EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 

AMENDMENT NO. 2 TO CREDIT AGREEMENT 

AMENDMENT NO. 2, dated as of March 24, 2017 (this “Amendment”) to the Credit Agreement (as defined below), among Visteon
Corporation (the “Borrower”), each Guarantor party hereto, each lender under the Credit Agreement party hereto (collectively, the “Lenders” and, each, individually, a “Lender”) and Citibank, N.A.,
as administrative agent (in such capacity, the “Administrative Agent”). 
 WHEREAS, reference is made to that certain
Credit Agreement, dated as of April 9, 2014 (as amended by that certain Waiver and Amendment No. 1 to Credit Agreement, dated as of March 25, 2015, and as further amended, supplemented, amended and restated or otherwise modified prior
to the date hereof, the “Credit Agreement”), among the Borrower, the Lenders party thereto and the Administrative Agent,); and 

WHEREAS, the Borrower has requested that the Lenders (including Lenders constituting Required Lenders) agree to certain amendments and
modifications to the Credit Agreement, including, among other things, to (i) terminate the existing Revolving Credit Facility (the loans thereunder being referred to herein as the “Original Revolving Credit Loans”) and the
existing Revolving Credit Commitments (the “Original Revolving Credit Commitments”) and replace such loans and commitments with a new Revolving Credit Facility (the “Refinancing Revolving Facility”) and new
Revolving Credit Commitments (the “New Revolving Credit Commitments” and, any Revolving Credit Loans made pursuant thereto, “New Revolving Credit Loans”) in an aggregate principal amount of $300,000,000, (ii) extend
the maturity of the Initial Term Facility, which extension will be effected by way of a new term loan facility (the “Refinancing Term Facility” and, together with the Refinancing Revolving Facility, the “Refinancing
Facilities”) in an aggregate principal amount of $350,000,000 (any Term Loans resulting therefrom are herein referred to as the “New Term Loans”), the proceeds of which will be used to repay all Term Loans outstanding
immediately prior to the Amendment No. 2 Effective Date (as defined below) (the “Original Term Loans”) and pay accrued interest thereon and (iii) make such other modifications to the Credit Agreement as described herein;
and 
 WHEREAS, the Credit Agreement permits the Borrower, pursuant to Section 2.21 thereof, to obtain Specified Refinancing Debt from
any Lender or Additional Lender in respect of all of the Term Loans outstanding under the Credit Agreement; and 
 WHEREAS, the Credit
Agreement permits the Borrower, pursuant to Section 10.01 thereof, to amend certain provisions of the Credit Agreement with the consent of the Required Lenders; and 

WHEREAS, subject to the terms and conditions set forth herein, each Party hereto who has delivered a signature page as a Lender agreeing to
provide Revolving Credit Commitments (a “New Revolving Credit Lender”) has agreed to provide a New Revolving Credit Commitment in the amount set forth on Schedule I hereto; and 

WHEREAS, subject to the terms and conditions set forth herein, each Party hereto who has delivered a signature page as a Lender has agreed to
provide New Term Loans (each such Person who is a Term Lender holding Original Term Loans immediately prior to the effectiveness of this Amendment, a “Continuing Term Lender”; each such Person who is not a Continuing Term Lender, an
“Additional Term Lender”; and each Continuing Term Lender and Additional Term Lender, a “New Term Lender”) in the amount (such amount, a “New Term Commitment”) set forth next to its name on a
schedule maintained by the Administrative Agent (the “Refinancing Term Loan Allocation Schedule”) (or to convert all (or such lesser amount as the Amendment No. 2 Arrangers (as defined in the Amended Credit Agreement

 
(as defined below)) may allocate) of its Original Term Loans into New Term Loans (such converted Original Term Loans, the “Converted Term Loans” and any such conversion of
Original Term Loans into New Term Loans being referred to herein as an “Amendment No. 2 Refinancing Conversion”)); and 

WHEREAS, each of the Lenders party hereto has agreed, subject to the terms and conditions set forth herein, to amend the Credit Agreement as
herein provided (as so amended, the “Amended Credit Agreement”); and 
 NOW, THEREFORE, the parties hereto hereby agree as
follows: 
 ARTICLE I 

DEFINITIONS 

Section 1.01    Definitions. Unless otherwise defined herein, capitalized terms defined in the Credit
Agreement have the same meanings when used in this Amendment. 
 ARTICLE II 

REFINANCING LOANS 

Section 2.01    New Revolving Credit Loans. 

(a)    Subject to the terms and conditions set forth herein, on the Amendment No. 2 Effective Date, each New
Revolving Credit Lender agrees to make available Revolving Credit Commitments in the amount set forth on Schedule I hereto. 

(b)    The aggregate principal amount of the New Revolving Credit Commitments shall be $300,000,000. 

(c)    The New Revolving Credit Commitments will be used to refinance the existing Revolving Credit Commitments.
Borrowings under the Refinancing Revolving Facility will be used for any purpose not prohibited by the Credit Agreement, including, without limitation, for general corporate purposes. 

(d)    The final maturity date of the New Revolving Credit Loans shall be March 24, 2022. 

(e)    The Applicable Rate with respect to the Refinancing Revolving Facility shall be, as of any date, the applicable
percentage per annum set forth below based upon the Corporate Rating and the Family Rating, respectively, applicable to the Borrower: 
  

							
	 Applicable Rate

	 Pricing Level
	  	 Ratings
	  	 LIBOR Loans
	 	 ABR Loans

	1	  	Corporate Rating of at least BBB- by S&P or Family Rating of at least Baa3 by Moody’s	  	1.25%	 	0.25%
	2	  	Corporate Rating of at least BB+ by S&P or Family Rating of at least Ba1 by Moody’s and not Pricing Level 1	  	1.50%	 	0.50%
	 3
	  	Corporate Rating of at least BB by S&P or	  	1.75%	 	0.75%

  
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		  	Family Rating of at least Ba2 by Moody’s and not Pricing Level 1 or 2	  		 	
	4	  	Corporate Rating of at least BB- by S&P or Family Rating of at least Ba3 by Moody’s and not Pricing Level 1, 2 or 3	  	2.00%	 	1.00%
	5	  	Corporate Rating below BB- by S&P and Family Rating below Ba3 by Moody’s	  	2.25%	 	1.25%

 (f)    The Borrower shall repay to the New Revolving Credit Lenders on the final maturity
date of the New Revolving Credit Commitments the aggregate principal amount of all New Revolving Credit Loans outstanding on such date. 

(g)    A per annum commitment fee on the undrawn portion of the New Revolving Credit Commitments shall accrue from the
Amendment No. 2 Effective Date at the applicable percentage per annum set forth below based upon the Corporate Rating and the Family Rating, respectively, applicable to the Borrower: 

 

					
	 Applicable Commitment
Fee

	 Pricing

Level
	  	 Ratings
	  	 Applicable
Commitment
Fee

	1	  	Corporate Rating of at least BBB- by S&P or Family Rating of at least Baa3 by Moody’s	  	0.15%
	2	  	Corporate Rating of at least BB+ by S&P or Family Rating of at least Ba1 by Moody’s and not Pricing Level 1	  	0.20%
	3	  	Corporate Rating of at least BB by S&P or Family Rating of at least Ba2 by Moody’s and not Pricing Level 1 or 2	  	0.25%
	4	  	Corporate Rating below BB by S&P and Family Rating below Ba2 by Moody’s	  	0.30%

 (h)    The commitments of the New Revolving Credit Lenders are several, and no New
Revolving Credit Lender shall be responsible for any other New Revolving Credit Lender’s failure to make New Revolving Credit Loans. 

(i)    Subject to the terms and conditions set forth herein, effective as of the Amendment No. 2 Effective Date, for
all purposes of the Loan Documents, (i) the New Revolving Credit Commitments shall constitute “Revolving Credit Commitments” and a “Revolving Credit Facility”, (ii) the New Revolving Credit Loans shall constitute
“Revolving Credit Loans” and (iii) each New Revolving Credit Lender shall become an “Additional Lender”, a “Revolving Credit Lender” and a “Lender” (if such New Revolving Credit Lender is not already a
Revolving Credit Lender or a Lender prior to the effectiveness of this Amendment) and shall have all the rights and obligations of a Lender holding a Revolving Credit Commitment (or, following the making of a New Revolving Credit Loan, a Revolving
Credit Loan). 
 (j)    On the Amendment No. 2 Effective Date, all Original Revolving Credit Commitments shall be
terminated. 
 (k)    All other terms not described herein and relating to the New Revolving Credit Loans shall be the
same as the terms of the Initial Revolving Credit Loans. 

  
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 (l)    The obligation of each New Revolving Credit Lender to provide New
Revolving Credit Commitments and to make New Revolving Credit Loans on the Amendment No. 2 Effective Date is subject to the satisfaction of the conditions to effectiveness set forth in Article IV hereof. 

(m)    Any Lender holding Original Revolving Credit Commitments immediately prior to the Amendment No. 2 Effective
Date that is not a New Revolving Credit Lender is referred to herein as an “Exiting Revolving Credit Lender”. In the event any New Revolving Credit Lender receives an allocation of New Revolving Credit Commitments in an amount less
than the amount of its Original Revolving Credit Commitments, such Lender shall be considered an Exiting Revolving Credit Lender with the respect to the difference between the amount of its Original Revolving Credit Commitments and the allocated
amount of its New Revolving Credit Commitments 
 Section 2.02    New Term Loans. 

(a)    Subject to the terms and conditions set forth herein, on the Amendment No. 2 Effective Date, each New Term
Lender agrees to fund a New Term Loan in a principal amount not to exceed such New Term Lender’s New Term Commitment as set forth on the Refinancing Term Loan Allocation Schedule. 

(b)    The aggregate principal amount of the New Term Loans shall be $350,000,000. 

(c)    The New Term Loans will be used to refinance the Initial Term Loans and, together with cash on hand, pay fees and
expenses related to the Amendment. 
 (d)    The final maturity date of the New Term Loans shall be March 24, 2024
and the New Term Loans shall not be subject to amortization before such date. 
 (e)    The Applicable Rate for the New
Term Loans shall be 2.25% per annum for Eurodollar Rate Loans and 1.25% per annum for Base Rate Loans. 
 (f)    If the
Borrower (A) makes a voluntary prepayment of any New Term Loans pursuant to Section 2.05(a) of the Amended Credit Agreement in connection with a Repricing Transaction, (B) makes a prepayment of any New Term Loans pursuant to Section
2.05(b)(iii)(A) of the Amended Credit Agreement in connection with a Repricing Transaction, or (C) replaces a Lender pursuant to Section 3.07(a) of the Amended Credit Agreement for failing to consent to any departure, waiver, amendment or
modification constituting a Repricing Transaction, in each case prior to the six month anniversary of the Amendment No. 2 Effective Date, the Borrower shall pay to the Administrative Agent, for the ratable account of the applicable New Term
Lenders, a prepayment premium in an amount equal to 1.0% of the principal amount prepaid (or, in the case of clause (C) above, an amount equal to 1.0% of the principal amount of New Term Loans repaid or required to be assigned in connection
with such replacement). 
 (g)    Subject to the terms and conditions set forth herein, on the Amendment No. 2
Effective Date, each Continuing Term Lender agrees to convert all (or such lesser amount as the Amendment No. 2 Arrangers may allocate) of its Original Term Loans into Converted Term Loans. Without limiting the generality of the foregoing, each
Continuing Term Lender shall have a commitment to acquire New Term Loans in the amount of Original Term Loans then held by such Continuing Term Lender. Each party hereto acknowledges and agrees that notwithstanding any such conversion, each such
Continuing Term Lender shall be entitled to receive payment on the Amendment No. 2 Effective Date of the unpaid fees (if any) and interest accrued to such date with respect to all of its Original Term Loans. 

  
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 (h)    Each New Term Lender, by delivering its signature page to this
Amendment and funding (or converting its Original Term Loans into) New Term Loans on the Amendment No. 2 Effective Date, shall be deemed to have acknowledged receipt of, and consented to and approved this Amendment, each Loan Document and each
other document required to be delivered to, or be approved by or satisfactory to, the Administrative Agent or any class of Lenders on the Amendment No. 2 Effective Date. The commitments of the New Term Lenders are several, and no New Term
Lender shall be responsible for any other New Term Lender’s failure to make New Term Loans. 
 (i)    Subject to
the terms and conditions set forth herein, effective as of the Amendment No. 2 Effective Date, for all purposes of the Loan Documents, (i) the New Term Commitments shall constitute “Term Commitments” and
“Commitments”, (ii) the New Term Loans shall constitute “Term Loans” and “Loans” and (iii) each New Term Lender shall become an “Additional Lender”, a “Term Lender” and a
“Lender” (if such New Term Lender is not already a Term Lender or Lender prior to the effectiveness of this Amendment) and shall have all the rights and obligations of a Lender holding a Term Commitment (or, following the making of a
New Term Loan, a Term Loan). 
 (j)    Any Lender holding Original Term Loans immediately prior to the Amendment
No. 2 Effective Date that is not a New Term Lender is referred to herein as an “Exiting Term Lender”. In the event any Lender is a Continuing Term Lender but receives an allocation of New Term Loans in an amount less than the
amount of its Original Term Loans, such Lender shall be considered an Exiting Term Lender with the respect to the difference between the amount of its Original Term Loans and the allocated amount of its New Term Loans. 

(k)    The Original Term Loans of each Exiting Term Lender shall, immediately upon the effectiveness of this
Amendment, be repaid in full (together with any unpaid fees and interest accrued thereon (including funding losses payable to any Exiting Term Lenders pursuant to Section 3.05 of the Credit Agreement)) with the proceeds of the New Term Loans
and other funds available to the Borrower. The Borrower shall, on the Amendment No. 2 Effective Date, pay to the Administrative Agent, for the accounts of the Persons that are Term Lenders immediately prior to the Amendment No. 2
Effective Date, all interest, fees and other amounts accrued to the Amendment No. 2 Effective Date with respect to the Original Term Loans, whether or not such Original Term Loans are converted pursuant to this Amendment. 

(l)    All other terms not described herein and relating to the New Term Loans shall be the same as the terms of the
Initial Term Loans under the Credit Agreement as in effect immediately prior to the Amendment No. 2 Effective Date. 

(m)    The obligation of each New Term Lender to make New Term Loans on the Amendment No. 2 Effective Date is subject
to the satisfaction of the conditions to effectiveness set forth in Article IV hereof. 
 ARTICLE III 

OTHER AMENDMENTS TO THE CREDIT AGREEMENT 

Section 3.01    Other Amendments to the Credit Agreement. Effective as of the Amendment No. 2 Effective
Date, the Credit Agreement is hereby amended as follows: 
 (a)    The following definitions are hereby added to
Section 1.01 in the appropriate alphabetical order: 

  
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 “Amendment No. 2” means Amendment No. 2
to this Agreement, dated as of March 24, 2017, among the Borrower, the Guarantors party thereto, the Lenders party thereto and the Administrative Agent.” 

“Amendment No. 2 Applicable Commitment Fee” means, as of any date, the applicable percentage per annum set
forth below under the caption “Applicable Commitment Fee” based upon the Corporate Rating (as defined below) and the Family Rating (as defined below), respectively, applicable to the Borrower: 

 

					
	 Applicable Commitment
Fee

	 Pricing

Level
	  	 Ratings
	  	 Applicable
Commitment
Fee

	1	  	Corporate Rating of at least BBB- by S&P or Family Rating of at least Baa3 by Moody’s	  	0.15%
	2	  	Corporate Rating of at least BB+ by S&P or Family Rating of at least Ba1 by Moody’s and not Pricing Level 1	  	0.20%
	3	  	Corporate Rating of at least BB by S&P or Family Rating of at least Ba2 by Moody’s and not Pricing Level 1 or 2	  	0.25%
	4	  	Corporate Rating below BB by S&P and Family Rating below Ba2 by Moody’s	  	0.30%”

 “Amendment No. 2 Arrangers” means each of Citigroup Global
Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Bank PLC, UBS Securities LLC, U.S. Bank National Association, Sumitomo Mitsui Banking Corporation and Deutsche Bank Securities Inc., in their respective capacities
as joint lead arrangers and or joint bookrunners under the Amendment No. 2 Engagement Letter.” 

“Amendment No. 2 Effective Date” means March 24, 2017, the date on which the
conditions precedent set forth in Section 4.01 of Amendment No. 2 were satisfied or waived.” 

“Amendment No. 2 Engagement Letter” means the Engagement Letter, dated as of March 7,
2017, among the Amendment No. 2 Arrangers and the Borrower.” 
 “Amendment No. 2
Revolving Credit Loans” means the Loans made by the Amendment No. 2 Revolving Credit Lenders pursuant to their respective Amendment No. 2 Revolving Credit Commitments.” 

“Amendment No. 2 Revolving Credit Commitment” means, in the case of each Amendment
No. 2 Revolving Credit Lender, the amount set forth opposite such Amendment No. 2 Revolving Credit Lender’s name on Schedule I to Amendment No. 2 as such Amendment No. 2 Revolving Credit Lender’s “Amendment
No. 2 Revolving Credit Commitment”. The aggregate principal amount of the Amendment No. 2 Revolving Credit Commitments as of the Amendment No. 2 Effective Date is $300,000,000.” 

“Amendment No. 2 Revolving Credit Facility” means, at any time, the aggregate amount of the
Amendment No. 2 Revolving Credit Lenders’ Amendment No. 2 Revolving Credit Commitments at such time.” 

“Amendment No. 2 RCF Documentation Agents” means, solely for purposes of the Amendment
No. 2 Revolving Credit Facility, each of Bank of America, N.A., Sumitomo Mitsui 

  
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Banking Corporation, Barclays Bank PLC, UBS AG, Stamford Branch, U.S. Bank National Association, Compass Bank and Deutsche Bank AG New York Branch.” 

“Amendment No. 2 Revolving Credit Lender” means, at any time, any Lender that has an
Amendment No. 2 Revolving Credit Commitment or holds an Amendment No. 2 Revolving Credit Loan at such time.” 

“Amendment No. 2 Term Commitment” means, in the case of each Amendment No. 2 Term
Lender, the amount set forth opposite such Amendment No. 2 Term Lender’s name on the Refinancing Term Loan Allocation Schedule (as defined in Amendment No. 2) maintained by the Administrative Agent. The aggregate amount of the
Amendment No. 2 Term Commitments as of the Amendment No. 2 Effective Date is $350,000,000.” 

“Amendment No. 2 Term Facility” means, at any time, the aggregate amount of Amendment
No. 2 Term Loans of all Amendment No. 2 Term Lenders at such time.” 
 “Amendment
No. 2 Term Lender” means, at any time, any Lender that has an Amendment No. 2 Term Commitment or holds an Amendment No. 2 Term Loan at such time.” 

“Amendment No. 2 Term Loans” means the Loans made by the Amendment No. 2 Term Lenders
pursuant to their respective Amendment No. 2 Term Commitments.” 

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

“Bail-In Legislation” means, with respect to any EEA Member Country
implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU
Bail-In Legislation Schedule.” 
 “EEA Financial Institution”
means (a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an
institution described in clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to
consolidated supervision with its parent.” 
 “EEA Member Country” means any of the member states of
the European Union, Iceland, Liechtenstein, and Norway.” 
 “EEA Resolution Authority” means any public
administrative authority or any person entrusted with public administrative authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution.” 

“EU Bail-In Legislation Schedule” means the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor person), as in effect from time to time.” 

“Financial Covenant Event of Default” has the meaning specified in Section 8.01(b).” 

  
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 “L/C Commitment” means, with respect to each L/C Issuer, the
commitment of such L/C Issuer to issue Letters of Credit pursuant to Section 2.03, as such commitment is set forth on Schedule 2.03.” 

“Limited Condition Acquisition” means any acquisition by the Borrower or one or more of its Subsidiaries
permitted hereunder whose consummation is not conditioned under the applicable acquisition agreement on the availability of, or on obtaining, third party financing.” 

“Transformative Acquisition” means any acquisition or Investment by the Borrower or any Restricted Subsidiary
that either (a) is not permitted by the terms of this Agreement prior to the consummation of such acquisition or Investment or (b) if permitted by the terms of this Agreement immediately prior to the consummation of such acquisition or
Investment, would not provide the Borrower and the Restricted Subsidiaries with adequate flexibility hereunder for the continuation of the business following such consummation, as determined by the Borrower acting in good faith.” 

“Write-Down and Conversion Powers” means, with respect to any EEA Resolution Authority, the write-down and
conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule.” 
 (b)    The definition of “Applicable
Rate” set forth in Section 1.01 of the Credit Agreement is hereby amended by deleting the “and” at the end of clause “(a)” therein and adding new clauses (c) and (d) thereto to read in their entirety as follows:

 “(c) with respect to the Amendment No. 2 Term Loans, 2.25% per annum for Eurodollar Rate Loans and 1.25% per
annum for Base Rate Loans; and 
 (d) with respect to the Amendment No. 2 Revolving Credit Facility, as of any date, the
applicable percentage per annum set forth below under the caption “Applicable Rate” based upon the Corporate Rating and the Family Rating, respectively, applicable to the Borrower: 

 

							
	 Applicable Rate

	 Pricing Level
	  	 Ratings
	  	 Eurodollar Rate
Loans
	  	 Base Rate
Loans

	 1
	  	Corporate Rating of at least BBB- by S&P or Family Rating of at least Baa3 by Moody’s	  	1.25%	  	0.25%
	 2
	  	Corporate Rating of at least BB+ by S&P or Family Rating of at least Ba1 by Moody’s and not Pricing Level 1	  	1.50%	  	0.50%
	 3
	  	Corporate Rating of at least BB by S&P or Family Rating of at least Ba2 by Moody’s and not Pricing Level 1 or 2	  	1.75%	  	0.75%
	 4
	  	Corporate Rating of at least BB- by S&P or Family Rating of at least Ba3 by Moody’s and not Pricing Level 1, 2 or 3	  	2.00%	  	1.00%
	 5
	  	Corporate Rating below BB- by S&P and Family Rating below Ba3 by Moody’s	  	2.25%	  	1.25%

  
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 (c)    The definition of “Defaulting Lender” set forth in
Section 1.01 of the Credit Agreement is hereby amended by adding “or a Bail-in Action” at the end of subclause (d)(i). 

(d)    Clause (c) of the definition of “Disqualified Lenders” set forth in Section 1.01 of the Credit
Agreement is hereby amended by adding the following words immediately before the semi-colon: “on the basis of its name”. 

(e)    The last sentence of the definition of “Eurodollar Rate” set forth in Section 1.01 of the Credit
Agreement is hereby amended and restated in its entirety as follows: 
 “Notwithstanding the foregoing, at no time shall the Eurodollar
Rate for any purpose be less than 0.00% per annum.” 
 (f)    The definition of “Federal Funds Rate” set
forth in Section 1.01 of the Credit Agreement is hereby amended by adding the following sentence at the end of the definition: 

“Notwithstanding the foregoing, at no time shall the Federal Funds Rate for any purpose be less than 0.00% per annum.” 

(g)    The definition of “Guarantors” set forth in Section 1.01 of the Credit Agreement is hereby amended
by deleting the proviso therein. 
 (h)    The following definitions in Section 1.01 of the Credit Agreement are
hereby amended and restated in their entirety as follows: 
 “Change of Control” means: 

(a) any “person” or “group” (within the meaning of the Exchange Act) is or becomes the “beneficial
owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act of 1934, except that for purposes of this clause (a) such person shall be deemed to have
“beneficial ownership” of all shares that any such person has the right to acquire, whether such right is exercisable immediately or only after the passage of time (such right, an “option right”)), directly or indirectly,
of 51 % or more of the Voting Equity Interests of the Borrower (and taking into account all such securities that such “person” or “group” has the right to acquire pursuant to any option right) or (b) during the period
of twelve (12) consecutive months, the board of directors of the Borrower shall cease to consist of a majority of Continuing Directors” 

“Facility” means, the Initial Term Facility, the Amendment No. 2 Term Facility, any Incremental Term
Facility, any other Tranche of Term Commitments or Term Loans, the Initial Revolving Credit Facility, the Amendment No. 2 Revolving Credit Facility, any other Tranche of Revolving Credit Commitments, the Letter of Credit Sublimit and any other
Facility hereunder, as the context may require.” 
 “Incremental Amount” means, at any date of
determination an amount not in excess of (x) the total of (A) $350,000,000 plus (B) the aggregate amount of voluntary prepayments of Loans (including purchases of the Loans by the Borrower and /or its Subsidiaries at or below par,
in which case the amount of voluntary prepayments of Loans shall be deemed not to exceed the actual purchase price in cash of such Loans below par, and in the case of any Loans that are not Term Loans, a corresponding permanent commitment reduction,
in each case except to the extent 

  
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financed with the incurrence of Consolidated Funded Senior Secured Indebtedness) minus (C) the sum of (i) the aggregate principal amount of any Revolving Facility Increase, Term
Facility Increase or any Incremental Commitment pursuant to Section 2.14, 2.15 or 2.16 in each case incurred in reliance on this clause (x), plus (ii) the aggregate principal amount of any issuance or incurrence of Incremental
Equivalent Debt pursuant to Section 2.17 in each case incurred in reliance on this clause (x) plus (y) on such date, the maximum aggregate principal amount that can be incurred without causing the Borrower not to be in Pro Forma
Compliance (after giving effect to the incurrence of such Indebtedness and the use of proceeds thereof) with the Maximum Senior Secured Net Leverage Requirement; provided that, (1) the calculation of the Maximum Senior
Secured Net Leverage Requirement shall not take into account any Loans under any Revolving Facility Increase, Term Facility Increase or any Incremental Commitment pursuant to Section 2.14, 2.15 or 2.16 made under clause (x)(A)
and/or (x)(B) concurrently with Loans made in reliance on clause (y), (2) if Pro Forma Effect is given to the entire committed amount of any such Indebtedness, such committed amount may thereafter be borrowed and reborrowed, in whole or in part,
from time to time, without further compliance with this definition and (3) any such Indebtedness may only be incurred under clause (y) when there is no capacity to incur such Indebtedness under clause (x).” 

“Letter of Credit Expiration Date” means the day that is five (5) Business Days prior to the scheduled
Maturity Date then in effect for the Revolving Credit Facility (or, if such day is not a Business Day, the next preceding Business Day); provided that, as to any L/C Issuer, the Letter of Credit Expiration Date shall not, without the prior
written consent of such L/C Issuer in accordance with the provisions hereof, be later than the day that is five (5) Business Days prior to the Scheduled Maturity Date of the Amendment No. 2 Revolving Credit Facility as of the Amendment
No. 2 Effective Date, except for any Letter of Credit for which the Borrower has agreed to provide Cash Collateral, or otherwise backstop (with a letter of credit on customary terms) to the applicable L/C Issuer’s and the Administrative
Agent’s reasonable satisfaction, on or prior to the fifth Business Day preceding the Scheduled Maturity Date of the Amendment No. 2 Revolving Credit Facility as of the Amendment No. 2 Effective Date.” 

“Loan Documents” means, collectively, (i) this Agreement, (ii) Amendment No. 1, (iii) Amendment
No. 2, (iv) the Notes, (v) the Guaranty, (vi) the Collateral Documents, (vii) any Pari Passu Intercreditor Agreement and any Other Intercreditor Agreement, (viii) any Extension Amendment, (ix) any joinder agreement
entered into pursuant to Section 2.14, 2.15 or 2.16, (x) any Refinancing Amendment and (xi) any letter of credit application, and any other document, agreement and instrument entered into by any L/C Issuer and the Borrower (or any
Restricted Subsidiary) or in favor of such L/C Issuer and relating to such Letter of Credit; but specifically excluding Secured Hedge Agreements and Secured Cash Management Agreements.” 

“Maturity Date” means: (a) (i) with respect to the Initial Revolving Credit Facility, the earlier of
(x) April 9, 2019 and (y) the date of termination in whole of the Initial Revolving Credit Commitments (including in respect of L/C Credit Extensions) pursuant to Section 2.06(a) or 8.02 and (ii) with respect to the Amendment
No. 2 Revolving Credit Facility, the earlier of (x) March 24, 2022 and (y) the date of termination in whole of the Amendment No. 2 Revolving Credit Commitments (including in respect of L/C Credit Extensions) pursuant to
Section 2.06(a) or 8.02, (b) (i) with respect to the Initial Term Facility, the earliest of (x) April 9, 2021, (y) the date of termination in whole of the Initial Term Commitments pursuant to Section 2.06(a) prior to any Term
Borrowing and (z) the date that the Initial Term Loans are declared due and payable pursuant to Section 8.02 and (ii) with respect to the Amendment No. 2 Term Facility, the earliest of (x) March 24, 2024 and
(y) the date that the Amendment No. 2 Term Loans are declared due and payable pursuant to Section 8.02, (c) with respect to any Tranche of Extended Term Loans or 

  
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Extended Revolving Commitments, the final maturity date as specified in the applicable Extension Amendment, (d) with respect to any Specified Refinancing Term Loans or Specified Refinancing
Revolving Credit Commitments, the final maturity date as specified in the applicable Refinancing Amendment, (e) with respect to any Incremental Term Facility, the final maturity date as specified in the applicable amendment to this Agreement in
respect of such Facility and (f) with respect to any Tranche of Loans or Commitments modified pursuant to a Loan Modification, the final maturity date as specified in the applicable amendment to this Agreement in respect of such modified Loan
or Commitment; provided, in each case, that if such day is not a Business Day, the applicable Maturity Date shall be the Business Day immediately succeeding such day.” 

“Maximum Senior Secured Net Leverage Requirement” means, with respect to any incurrence, issuance or
assumption of Indebtedness pursuant to clause (y) of the definition of Incremental Amount, the requirement that, on a Pro Forma Basis, on the date of determination after giving effect to such incurrence, issuance or assumption of Indebtedness,
and the use of the proceeds thereof (but without giving effect to any unrestricted cash and Cash Equivalents of the Borrower and the Restricted Subsidiaries that will be received from the proceeds of such Indebtedness), the Total Senior Secured Net
Leverage Ratio as of the end of the Test Period shall not exceed 2.50:1.00 (it being understood that if Pro Forma Effect is given to the entire committed amount of any such Indebtedness, such committed amount may thereafter be borrowed and
reborrowed, in whole or in part, from time to time, without further compliance with this “Maximum Senior Secured Net Leverage Requirement”); provided that, solely for the purpose of calculating the Total Senior Secured Net Leverage
Ratio pursuant to this definition, (i) all commitments with respect to the relevant Revolving Facility Increase, Term Facility Increase, Incremental Commitments or Incremental Equivalent Debt, as applicable, shall be deemed to be fully drawn,
(ii) any Incremental Equivalent Debt issued or incurred pursuant to Section 2.17 shall be deemed to constitute Consolidated Funded Senior Secured Indebtedness without regard to the requirements set forth in the definition thereof; and
(iii) any proceeds of such Indebtedness shall not qualify as “unrestricted cash or Cash Equivalents” of the Borrower and the Restricted Subsidiaries for the purposes of calculating the Total Senior Secured Net Leverage Ratio for the
purposes of this definition. 
 “Repricing Transaction” means (a) the incurrence of any Indebtedness by
the Borrower or any of its Subsidiaries (including any new or additional term loans under this Agreement) the primary purpose of which is to reduce the yield of the Amendment No. 2 Term Loans (or any other new term loans that the Administrative
Agent and the Borrower agree shall be subject to the provisions hereof), (i) having an effective interest rate margin or weighted average yield (as reasonably determined by the Administrative Agent consistent with generally accepted financial
practices in consultation with the Borrower, after giving effect to, among other factors, interest rates, margins, upfront or similar fees, recurring periodic fees in substance equivalent to interest, original issue discount or Eurodollar Rate or
Base Rate floors shared with all lenders or holders thereof, but excluding the effect of any arrangement, commitment, underwriting, structuring, syndication or similar fees payable in connection therewith that are not shared with all lenders or
holders thereof) that is less than the effective interest rate margin for, or weighted average yield (as reasonably determined by the Administrative Agent in consultation with the Borrower on the same basis) of, the Amendment No. 2 Term Loans
(or any other new term loans that the Administrative Agent and the Borrower agree shall be subject to the provisions hereof) and (ii) the proceeds of which are used to prepay or repay, in whole or in part, principal of the Amendment No. 2
Term Loans (including by converting all or any portion of the Amendment No. 2 Term Loans into such Indebtedness) and (b) any amendment, waiver or other modification to this Agreement which would have the effect of and the primary purpose
of which would be reducing the effective interest rate margin for, or weighted average yield (as reasonably determined by the 

  
 -11- 

 
Administrative Agent in consultation with the Borrower on the same basis) of, the Amendment No. 2 Term Loans (or any other new term loans that the Administrative Agent and the Borrower agree
shall be subject to the provisions hereof) (other than, in each case, any such transaction or amendment or modification accomplished together with the substantially concurrent refinancing of all Facilities hereunder in connection with a Change of
Control or a Transformative Acquisition).” 
 “Revolving Credit Commitment” means, as to each
applicable Revolving Credit Lender, (i) its Initial Revolving Credit Commitment, if any, (ii) its Amendment No. 2 Revolving Credit Commitment, if any, (iii) its Specified Refinancing Revolving Credit Commitment, if any,
(iv) its Extended Revolving Commitment, if any, (v) its Revolving Credit Commitment with the same terms and conditions modified on the same day pursuant to a Loan Modification, if any, and (vi) without duplication of the foregoing,
its commitment to provide Revolving Credit Loans in connection with a Revolving Facility Increase, if any, in each case as the context may require.” 

“Revolving Credit Loan” means Initial Revolving Credit Loans, Amendment No. 2 Revolving Credit Loans,
Extended Loans under an Extended Revolving Commitment and Specified Refinancing Revolving Loans (other than Term Loans) with the same terms and conditions modified on the same day pursuant to a Loan Modification, as the context may require.”

 “S & P” means S&P Global Ratings or any successor thereto.” 

“Term Commitment” means, as to each applicable Term Lender, (i) its Initial Term Commitment, if any,
(ii) its Amendment No. 2 Term Commitment, if any, (iii) its Incremental Commitment in the form of an Incremental Term Facility, if any, (iv) its Specified Refinancing Term Commitment, if any, (v) its commitment to provide
Extended Term Loans, if any, (vi) its commitment to provide Term Loans with the same terms and conditions modified on the same day pursuant to a Loan Modification, if any, and (vii) without duplication of the foregoing, its commitment to
provide Term Loans in connection with a Term Facility Increase, if any, in each case as the context may require.” 

“Term Loan” means an Initial Term Loan, an Amendment No. 2 Term Loan, an Incremental Term Loan, an
Extended Term Loan, a Specified Refinancing Term Loan or a Term Loan modified pursuant to Loan Modification, as the context may require.” 

“Tranche” (a) with respect to Term Loans or Term Commitments, refers to whether such Term Loans or Term
Commitments are (1) Initial Term Loans or Initial Term Commitments, (2) Amendment No. 2 Term Loans or Amendment No. 2 Term Commitments, (3) Incremental Term Facilities or Incremental Term Loans with the same terms and
conditions made on the same day, (4) Extended Term Loans or Extended Term Tranches (of the same series), (5) Specified Refinancing Term Loans or Specified Refinancing Term Commitments (of the same series) or (6) Term Loans or Term
Commitments with the same terms and conditions modified on the same day pursuant to a Loan Modification and (b) with respect to Revolving Credit Loans or Revolving Credit Commitments, refers to whether such Revolving Credit Loans or Revolving
Credit Commitments are (1) Initial Revolving Credit Commitments or Initial Revolving Credit Loans, (2) Amendment No. 2 Revolving Credit Commitments or Amendment No. 2 Revolving Credit Loans, (3) Extended Revolving
Commitments or Extended Loans under such Extended Revolving Commitment (of the same series), (4) Specified Refinancing Revolving Loans or Specified Refinancing Revolving Credit Commitments (of the same series) or (5) Revolving Credit Loans or
Revolving Credit Commitments with the same terms and conditions modified on the same day pursuant to a Loan Modification.” 

  
 -12- 

 (i)    The following definitions set forth in Section 1.01 of the Credit
Agreement are hereby deleted: “Parent”, “Successor Borrower”, “Successor Borrower Total Net Leverage Ratio” and “Successor Borrower Total Net Leverage Requirement”. 

(j)    Clause (a) of Section 1.12 of the Credit Agreement is hereby amended by relabeling clauses (iii) and
(iv) as (iv) and (v), respectively, and inserting a new clause (iii) immediately after clause (ii) as follows: “(iii) the Amendment No. 2 Applicable Commitment Fee,”. 

(k)    The following new Section 1.14 is hereby added to the Credit Agreement: 

“Section 1.14 Limited Condition Acquisitions. In the case of the incurrence of any Indebtedness or Liens or
the making of any Permitted Acquisitions or other Investments, in connection with a Limited Condition Acquisition, at the Borrower’s option, the relevant ratios, baskets (including the applicable Test Period used to determine the basket under
Sections 2.14, 2.15, 2.16 and 2.17), shall be tested, as of the date the definitive acquisition agreements for such Limited Condition Acquisition are entered into and calculated as if the Limited Condition Acquisition and other pro forma
events in connection therewith were consummated on such date on a Pro Forma Basis; provided that if the Borrower has made such an election, in connection with the calculation of any ratio or basket with respect to the incurrence of
Indebtedness or Liens, or the making of any Permitted Acquisition or other Investments on or following such date and prior to the earlier of the date on which such Limited Condition Acquisition is consummated or the definitive agreement for such
Limited Condition Acquisition is terminated, any ratio or basket shall be calculated (x) on a pro forma basis assuming such Limited Condition Acquisition and other pro forma events in connection therewith (including any incurrence, repayment or
redemption of Indebtedness) have been consummated and (y) for Restricted Payments and prepayments of Junior Financing and Unsecured Financing only, without giving effect to such Limited Condition Acquisition.” 

(l)    Clause (a) of Section 2.01 of the Credit Agreement is hereby amended by renumbering the first paragraph
thereto to “(a)(i)” and adding a new subclause (ii) to read in its entirety as follows: 
 “(ii) Subject
to the terms and conditions set forth in Amendment No. 2, each Amendment No. 2 Term Lender severally agrees to make a single loan denominated in Dollars to the Borrower on the Amendment No. 2 Effective Date in an aggregate amount not
to exceed such Amendment No. 2 Term Lender’s Amendment No. 2 Term Commitment. Amounts borrowed under this Section 2.01(a)(ii) and subsequently repaid or prepaid may not be reborrowed. Amendment No. 2 Term Loans may be Base Rate
Loans or Eurodollar Rate Loans as further provided herein. The Amendment No. 2 Term Commitments shall automatically terminate upon the making of the Amendment No. 2 Term Loans on the Amendment No. 2 Effective Date.” 

(m)    Clause (b) of Section 2.01 of the Credit Agreement is hereby amended by renumbering the first paragraph
thereto to “(b)(i)” and adding a new subclause (ii) to read in its entirety as follows: 
 “(ii) Subject
to the terms and conditions set forth herein, each Amendment No. 2 Revolving Credit Lender severally agrees to make loans denominated in Dollars or an Alternate Currency to the Borrower from time to time on or after the Amendment No. 2
Effective Date, on any Business Day until and excluding the Business Day preceding the 

  
 -13- 

 
Maturity Date for the Amendment No. 2 Revolving Credit Facility, in an aggregate amount not to exceed at any time outstanding the amount of such Amendment No. 2 Revolving Credit
Lender’s Amendment No. 2 Revolving Credit Commitment; provided, however, that after giving effect to any Borrowing of Amendment No. 2 Revolving Credit Loans, (i) the Total Revolving Credit Outstandings applicable to
the Amendment No. 2 Revolving Credit Facility shall not exceed the Amendment No. 2 Revolving Credit Facility and (ii) the aggregate Outstanding Amount of the Amendment No. 2 Revolving Credit Loans of any Lender (excluding any
exposure under outstanding Swing Line Loans), plus such Lender’s Pro Rata Share (under the Amendment No. 2 Revolving Credit Facility) of the Outstanding Amount of all L/C Obligations (applicable to the Amendment No. 2 Revolving Credit
Facility), plus such Lender’s Pro Rata Share (under the Amendment No. 2 Revolving Credit Facility) of the Outstanding Amount of all Swing Line Loans, shall not exceed such Lender’s Amendment No. 2 Revolving Credit Commitment.
Within the limits of each Lender’s Amendment No. 2 Revolving Credit Commitment, and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.01(b)(ii), prepay under Section 2.05, and reborrow
under this Section 2.01(b)(ii). Amendment No. 2 Revolving Credit Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided herein; provided that any Amendment No. 2 Revolving Credit Loans denominated in an Alternate
Currency shall be Eurodollar Rate Loans. If at the time of any Borrowing of Amendment No. 2 Revolving Credit Loans (including any deemed Borrowing of Amendment No. 2 Revolving Credit Loans made pursuant to Section 2.03) there shall be
more than one Tranche of Amendment No. 2 Revolving Credit Commitments, such Borrowing shall be allocated pro rata among such Tranches.” 

(n)    Subclause (a)(i) of Section 2.03 of the Credit Agreement is hereby amended by relabeling clauses (x), (y) and
(z) as (w), (x) and (y), respectively, and inserting a new clause (z) immediately thereafter as follows: “or (z) the Outstanding Amounts of all L/C Obligations with respect to Letters of Credit issued by such L/C Issuer would
exceed such L/C Issuer’s Commitment”. 
 (o)    Subclause (a)(ii)(C) of Section 2.03 of the Credit
Agreement is hereby amended and restated in its entirety as follows: 
 “(C) the expiry date of such requested Letter of
Credit would occur after the Letter of Credit Expiration Date, unless the applicable L/C Issuer and all the Revolving Credit Lenders have approved such expiry date, except for any Letter of Credit for which the Borrower has agreed to provide Cash
Collateral, or otherwise backstop (with a letter of credit on customary terms) to the applicable L/C Issuer’s and the Administrative Agent’s reasonable satisfaction, on or prior to the fifth Business Day preceding the Scheduled Maturity
Date of the Amendment No. 2 Revolving Credit Facility as of the Amendment No. 2 Effective Date;” 

(p)    Clause (a) of Section 2.04 of the Credit Agreement is hereby amended by renumbering the first paragraph
thereto to “(a)(i)” and adding a new subclause (ii) to read in its entirety as follows: 
 “(ii) On any
Business Day until and excluding the Business Day preceding the Maturity Date for the Amendment No. 2 Revolving Credit Facility, subject to the terms and conditions hereof, the Swing Line Lender agrees to make Swing Line Loans to the Borrower,
in the aggregate amount up to but not exceeding the Swing Line Sublimit; provided that the Swing Line Lender shall not make any Swing Line Loans if, as of the date of and after giving effect to such Swing Line Loan the Total Revolving Credit

  
 -14- 

 
Outstandings would exceed the aggregate Amendment No. 2 Revolving Credit Facility; provided that, after giving effect to any Swing Line Loan, the aggregate Outstanding Amount of the
Amendment No. 2 Revolving Credit Loans of any Lender (excluding any exposure under outstanding Swing Line Loans), plus such Lender’s Pro Rata Share (under the Amendment No. 2 Revolving Credit Facility) of the Outstanding Amount of all
L/C Obligations (applicable to the Amendment No. 2 Revolving Credit Facility), plus such Lender’s Pro Rata Share (under the Amendment No. 2 Revolving Credit Facility) of the Outstanding Amount of all Swing Line Loans, shall not exceed
such Lender’s Amendment No. 2 Revolving Credit Commitment. Amounts borrowed pursuant to this Section 2.04 may be repaid and reborrowed prior to the Maturity Date for the Amendment No. 2 Revolving Credit Facility. The Swing Line
Lender’s Commitment to make Swing Line Loans shall expire on the latest Maturity Date with respect to the Amendment No. 2 Revolving Credit Facility and all Swing Line Loans and all other amounts owed hereunder with respect to the Swing
Line Loans shall be paid in full no later than such date. Within the foregoing limits, and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.04, prepay under Section 2.05, and reborrow under
this Section 2.04.” 
 (q)    Subclause (a)(iii) of Section 2.05 of the Credit Agreement is hereby
amended by replacing the reference to “Amendment No. 1 Effective Date” thereto with “Amendment No. 2 Effective Date”. 

(r)    Clause (b) of Section 2.06 of the Credit Agreement is hereby amended by adding a new subclause
(vi) immediately after subclause (v) to read in its entirety as follows: 
 “(vi) The aggregate Amendment
No. 2 Revolving Credit Commitments shall automatically and permanently be reduced to zero on the Maturity Date with respect to the Amendment No. 2 Revolving Credit Facility.” 

(s)    Clause (a) of Section 2.07 of the Credit Agreement is hereby amended by renumbering the first paragraph
thereto “(a)(i)” and adding a new subclause (ii) immediately after the table thereto to read in its entirety as follows: 

“(ii) The Amendment No. 2 Term Facility shall not be subject to amortization prior to the Maturity Date of the
Amendment No. 2 Term Facility.” 
 (t)    Clause (b) of Section 2.07 of the Credit Agreement is
hereby amended by renumbering the first paragraph thereto to “(b)(i)” and a new subclause (ii) to read in its entirety as follows: 

“(ii) The Borrower shall repay to the Amendment No. 2 Revolving Credit Lenders on the Maturity Date for the Amendment
No. 2 Revolving Credit Facility the aggregate principal amount of all Amendment No. 2 Revolving Credit Loans outstanding on such date.” 

(u)    Clause (a) of Section 2.09 of the Credit Agreement is hereby amended by renumbering the first paragraph
thereto to “(a)(i)” and adding a new subclause (ii) to read in its entirety as follows: 
 “(ii) The
Borrower shall pay to the Administrative Agent for the account of each Amendment No. 2 Revolving Credit Lender in accordance with its Pro Rata Share of the Amendment No. 2 Revolving Credit Facility, a commitment fee equal to the Amendment

  
 -15- 

 
No. 2 Applicable Commitment Fee multiplied by the actual daily amount by which the aggregate Amendment No. 2 Revolving Credit Commitments exceed the sum of (A) the Outstanding
Amount of Amendment No. 2 Revolving Credit Loans and (B) the Outstanding Amount of L/C Obligations, subject to adjustment as provided in Section 2.20. The commitment fee under the Amendment No. 2 Revolving Credit Facility shall
accrue at all times from the Amendment No. 2 Effective Date until the Maturity Date for the Amendment No. 2 Revolving Credit Facility, and shall be due and payable quarterly in arrears on the last Business Day of each March, June,
September and December, commencing with the last Business Day of the first full fiscal quarter to end following the Amendment No. 2 Effective Date, and on the Maturity Date for the Amendment No. 2 Revolving Credit Facility.” 

(v)    Clause (b) of Section 2.09 of the Credit Agreement is hereby amended by adding a new subclause
“(v)” to read in its entirety as follows: 
 “(v) The Borrower shall pay, on the Amendment No. 2
Effective Date, in the case of Lenders under the Amendment No. 2 Revolving Credit Facility, the fees agreed to by the Borrower and the Amendment No. 2 Arrangers pursuant to the Amendment No. 2 Engagement Letter.” 

(w)    Subclauses (e)(iv) and (v) of Section 2.14 of the Credit Agreement are hereby amended and restated in
their entirety as follows: 
 “(iv) the Borrower shall have delivered a certificate of the Borrower dated as of the
Revolving Credit Increase Effective Date signed by a Responsible Officer of the Borrower certifying that the conditions precedent set forth in subclauses (i) and (ii) have been satisfied and , that the Borrower is in Pro Forma Compliance with
the Maximum Senior Secured Net Leverage Requirement, to the extent applicable, and, subject to the proviso in subclause (v) of this clause (e), the financial covenant set forth in Section 7.11, (v) the Borrower shall be in Pro Forma
Compliance with the Maximum Senior Secured Net Leverage Requirement, to the extent applicable, and the financial covenant set forth in Section 7.11 (such compliance to be determined on the basis of the financial information most recently
delivered to the Administrative Agent and the Lenders pursuant to Section 6.01(a) or (b) (or, prior to the first delivery thereof, on the basis of the financial information set forth in the Borrower’s most recent filed Form 10-K)) as though such incurrence or acquisition had been consummated as of the first day of the applicable Test Period); provided that, in the case of a Revolving Facility Increase incurred to finance a
Permitted Acquisition, such compliance with the financial covenant set forth in Section 7.11 may, at the election of the Borrower, be measured at the time immediately preceding the date on which a definitive agreement with respect to such
Permitted Acquisition is entered into between the Borrower or any Restricted Subsidiary and the sellers with respect thereto (it being understood that such election shall have been made on or prior to the date of such definitive agreement),”

 (x)    Subclauses (e)(iv) and (v) of Section 2.15 of the Credit Agreement are hereby amended and restated
in their entirety as follows: 
 “(iv) the Borrower shall have delivered a certificate of the Borrower dated as of the
Term Increase Effective Date signed by a Responsible Officer of the Borrower certifying that the conditions precedent set forth in subclauses (i) and (ii) have been satisfied and, that the Borrower is in Pro Forma Compliance with the Maximum
Senior Secured 

  
 -16- 

 
Net Leverage Requirement, to the extent applicable, and, subject to the proviso in subclause (v) of this clause (e), the financial covenant set forth in Section 7.11, (v) the Borrower
shall be in Pro Forma Compliance with the Maximum Senior Secured Net Leverage Requirement, to the extent applicable, and the financial covenant set forth in Section 7.11 (such compliance to be determined on the basis of the financial
information most recently delivered to the Administrative Agent and the Lenders pursuant to Section 6.01(a) or (b) (or, prior to the first delivery thereof, on the basis of the financial information set forth in the Borrower’s most recent filed
Form 10-K) as though such incurrence or acquisition had been consummated as of the first day of the applicable Test Period); provided that, in the case of a Term Facility Increase incurred to finance a
Permitted Acquisition, such compliance with the financial covenant set forth in Section 7.11 may, at the election of the Borrower, be measured at the time immediately preceding the date on which a definitive agreement with respect to such
Permitted Acquisition is entered into between the Borrower or any Restricted Subsidiary and the sellers with respect thereto (it being understood that such election shall have been made on or prior to the date of such definitive agreement),”

 (y)    Subclause (d)(iv) of Section 2.16 of the Credit Agreement is hereby amended and restated in its entirety
as follows: 
 “(iv) the Borrower shall have delivered a certificate of the Borrower dated as of the Incremental
Commitment Effective Date signed by a Responsible Officer of the Borrower certifying that the conditions precedent set forth in subclauses (i), (ii) and (vi) have been satisfied and, subject to the proviso in subclause (vi) of this clause
(d), that the Borrower is in Pro Forma Compliance with the Maximum Senior Secured Net Leverage Requirement, to the extent applicable, and the financial covenant set forth in Section 7.11,” 

(z)    Subclause (d)(vi) of Section 2.16 of the Credit Agreement is hereby amended and restated in its entirety as
follows: 
 “(vi) the Borrower shall be in Pro Forma Compliance with the Maximum Senior Secured Net Leverage
Requirement, to the extent applicable, and the financial covenant set forth in Section 7.11 (such compliance to be determined on the basis of the financial information most recently delivered to the Administrative Agent and the Lenders pursuant
to Section 6.01(a) or (b) (or, prior to the first delivery thereof, on the basis of the financial information set forth in the Borrower’s most recent filed Form 10-K) as though such incurrence or
acquisition had been consummated as of the first day of the applicable Test Period); provided that, in the case of an Incremental Commitment incurred to finance a Permitted Acquisition, such compliance with the financial covenant set forth in
Section 7.11 may, at the election of the Borrower, be measured at the time immediately preceding the date on which a definitive agreement with respect to such Permitted Acquisition is entered into between the Borrower or any Restricted
Subsidiary and the sellers with respect thereto (it being understood that such election shall have been made on or prior to the date of such definitive agreement), and” 

(aa)    Subclause (e)(vi) of Section 2.16 of the Credit Agreement is hereby amended and restated in its entirety as
follows: 
 “(vi)    the All-In Yield applicable to the
Incremental Term Loans of each Tranche shall be determined by the Borrower and the applicable New Lenders and shall be set forth in each applicable joinder agreement; provided that, at any time on or prior to

  
 -17- 

 
the twelve month anniversary of the Amendment No. 2 Effective Date, with respect to any Incremental Term Loans of any Tranche secured on a pari passu basis in right of payment and security
with the Obligations, the All-In Yield applicable to such Incremental Term Loans shall not be greater than the applicable All-In Yield payable pursuant to the terms of
this Agreement as amended through the date of such calculation with respect to Amendment No. 2 Term Loans plus 50 basis points per annum unless the interest rate (together with, as provided in the proviso below, the Eurodollar Rate or Base Rate
floor) with respect to the Amendment No. 2 Term Loans is increased so as to cause the then applicable All-In Yield under this Agreement on the Amendment No. 2 Term Loans to equal the All-In Yield then applicable to the Incremental Term Loans, minus 50 basis points; provided that any increase in All-In Yield to any existing Amendment
No. 2 Term Loan due to the application of a Eurodollar Rate or Base Rate floor on any Incremental Term Loan shall be effected solely through an increase in (or implementation of, as applicable) any Eurodollar Rate or Base Rate floor applicable
to such existing Amendment No. 2 Term Loan; and” 
 (bb)    Subclause (b)(i) of Section 2.17 of the
Credit Agreement is hereby amended and restated in its entirety as follows: 
 “(i) the Borrower shall deliver to the
Administrative Agent a certificate of the Borrower dated as of the date of issuance or incurrence of the Incremental Equivalent Debt signed by a Responsible Officer of the Borrower certifying that the conditions precedent set forth in the following
clauses (ii) through (viii) have been satisfied and, if applicable, that the Borrower is in Pro Forma Compliance with the Maximum Senior Secured Net Leverage Requirement, to the extent applicable, and the financial covenant set forth in
Section 7.11; provided that, in the case of Incremental Equivalent Debt incurred to finance a Permitted Acquisition, such compliance with the financial covenant set forth in Section 7.11 may, at the election of the Borrower, be measured at
the time immediately preceding the date on which a definitive agreement with respect to such Permitted Acquisition is entered into between the Borrower or any Restricted Subsidiary and the sellers with respect thereto (it being understood that such
election shall have been made on or prior to the date of such definitive agreement),” 
 (cc)    Section 2.20(b) of
the Credit Agreement is hereby amended and restated in its entirety as follows: 
 “(b)    If the
Borrower, the Administrative Agent and each L/C Issuer agree in writing in their sole discretion that a Defaulting Lender should no longer be deemed to be a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as
of the effective date specified in such notice and subject to any conditions set forth therein (which may include arrangements with respect to any Cash Collateral), that Lender will, to the extent applicable, purchase that portion of the applicable
outstanding Loans of the other Lenders under each relevant Tranche at par or take such other actions as the Administrative Agent may reasonably determine to be necessary to cause the Amendment No. 2 Revolving Credit Loans and funded and
unfunded participations in Letters of Credit and Swing Line Loans to be held on a pro rata basis by the Amendment No. 2 Revolving Credit Lenders in accordance with their ratable shares (without giving effect to Section 2.20(a)(iv)), whereupon
that Lender will cease to be a Defaulting Lender; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Borrower while that Lender was a Defaulting Lender; and
provided further, that subject to Section 10.26, except to the extent otherwise 

  
 -18- 

 
expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender
having been a Defaulting Lender.” 
 (dd)    Clause (b) of Section 6.07 of the Credit Agreement is hereby
amended by adding the following sentence at the end of the clause: 
 “In connection with any amendment to this
Agreement pursuant to which any increase, extension, or renewal of Loans is contemplated, the Borrower shall cause to be delivered to the Administrative Agent for any Mortgaged Property, a completed “life of the loan” Federal Emergency
Management Agency Standard Flood Hazard Determination, duly executed and acknowledged by the appropriate Loan Parties, in each case, to the extent not previously delivered by the Borrower to the Administrative Agent pursuant to Section 6.12(a)(vi)
hereof.” 
 (ee)    Section 6.12 of the Credit Agreement is hereby amended by adding a new clause (e) thereto
at the end of (d) therein to read in its entirety as follows: 
 “(e)    Notwithstanding
anything to the contrary in this Section 6.12 or any other provision of any Loan Document, with respect to any real property that becomes Material Real Property after the Amendment No.2 Effective Date, the applicable Loan Party shall not pledge
(and shall not be required to pledge) such Material Real Property until (i) at least 45 days have passed since the Borrower has provided written notice to the Administrative Agent and the Lenders of the acquisition of such Material Real
Property (provided that, for the avoidance of doubt, the applicable Loan Party shall not be required to pledge such Material Real Property prior to the time set forth in Section 6.12(a)) and (ii) the Administrative Agent has
confirmed that flood insurance due diligence and flood insurance compliance in accordance with Section 6.07(b) hereof has been completed.” 

(ff)    Clause (pp) of Section 7.01 of the Credit Agreement is hereby amended by replacing the reference to
“$15,000,000” therein with “$50,000,000”. 
 (gg)    Claus (kk) of Section 7.02 of the Credit
Agreement is hereby amended by replacing the reference to “1.25:1.00” therein with “1.50:1.00”. 

(hh)    Subclause (g)(i) of Section 7.03 of the Credit Agreement is hereby amended by (i) replacing the
reference to “$40,000,000” therein with “$75,000,000” and (ii) replacing the reference to “1.00%” thereto with “3.00%”. 

(ii)    The provisos in clause (o) of Section 7.03 of the Credit Agreement are hereby amended and restated in
their entirety as follows: 
 “provided that (i) such Indebtedness is not incurred in contemplation of such
Permitted Acquisition or Investment, and (ii) such Indebtedness shall not exceed $500,000,000 at any time outstanding.” 

(jj)    Clause (h) of Section 7.04 of the Credit Agreement is hereby amended and restated in its entirety as
follows: 
 “(h)    [Reserved].” 

  
 -19- 

 (kk)    Clause (l) of Section 7.06 of the Credit Agreement is
hereby amended by replacing the reference to “1.25:1.00” therein with “1.50:1.00”. 

(ll)    Section 7.11 of the Credit Agreement is hereby amended and restated in its entirety as follows: 

“Section 7.11    Financial Covenant. Solely with respect to the Amendment No. 2 Revolving
Credit Facility, permit the Total Net Leverage Ratio as of the last day of a Test Period (commencing with the first fiscal quarter ending after the Amendment No. 2 Effective Date) to exceed 3.00:1.00.” 

(mm)    Section 7.13 of the Credit Agreement is hereby amended by replacing the reference to “1.25:1.00” therein
with “1.50:1.00”. 
 (nn)    Clause (a) of Section 7.14 of the Credit Agreement is hereby amended
and restated in its entirety as follows: 
 “(a)    During any period of time that (i) both the
Corporate Rating and the Family Rating, respectively, applicable to the Borrower are Investment Grade Ratings (an “Investment Grade Ratings Designation”); and (ii) no Event of Default has occurred and is continuing at the time
of such Investment Grade Ratings Designation, the Borrower and the Restricted Subsidiaries will not be subject to the following Sections of this Agreement: Section 7.02, Section 7.03, Section 7.05, Section 7.06,
Section 7.08, Section 7.09 and Section 7.13 (collectively, the “Suspended Covenants”).” 

(oo)    Clause (b) of Section 8.01 of the Credit Agreement is hereby amended and restated in its entirety as
follows: 
 “(b) Specific Covenants. The Borrower fails to perform or observe any term, covenant or
agreement contained in any of Sections 6.03(a), 6.05(a) (solely with respect to the Borrower) or 6.11 or in any Section of Article VII; provided, that a Default by the Borrower under Section 7.11 (a “Financial Covenant Event of
Default”) shall not constitute an Event of Default with respect to any Tranche of Term Loans unless and until the Required Revolving Lenders shall have terminated their Revolving Credit Commitments and declared all amounts outstanding under
the Revolving Credit Facility to be due and payable; provided, however, that if the Required Revolving Lenders irrevocably rescind such termination and acceleration in a writing delivered to the Administrative Agent, the Financial
Covenant Event of Default shall automatically cease to constitute an Event of Default with respect to any Tranche of Term Loans from and after such date; or” 

(pp)    The first paragraph of clause (h) of Section 10.01 of the Credit Agreement is hereby amended and
restated in its entirety as follows: 
 “(h)    (i) amend or otherwise modify Section 7.11 (or
for purposes of determining compliance with Section 7.11, any defined term used therein), (ii) waive or consent to any Default or Event of Default resulting from a breach of Section 7.11 or (iii) alter the rights or remedies of
Required Revolving Lenders arising pursuant to Article VIII as a result of a breach of Section 7.11, in each case, without the written consent of the Required Revolving Lenders;” 

  
 -20- 

 (qq)    The third from last paragraph of clause (h) of
Section 10.01 of the Credit Agreement is hereby amended by deleting the comma immediately after the last word in clause (a), adding the word “and” immediately prior to clause (b), deleting the word “and” at the end of clause
(b) and deleting clause (c) in its entirety. 
 (rr)    Clause (d) of Section 10.07 is hereby
amended by adding a new paragraph at the end thereof to read in its entirety as follows: 
 “Each Lender that sells a
participation shall, acting solely for this purpose as a non-fiduciary agent of the Borrower, maintain a register on which it enters the name and address of each Participant and the principal amounts (and
stated interest) of each Participant’s interest in the Loans or other obligations under the Loan Documents (the “Participant Register”). The entries in the Participant Register shall be conclusive absent manifest error, and
such Lender shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. The portion of any Participant Register relating
to any Participant or SPC requesting payment from the Borrower or seeking to exercise its rights under Section 10.09 shall be available for inspection by the Borrower or any other Person only to the extent that such disclosure is necessary to
establish that such commitment, loan, letter of credit or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations. For the avoidance of doubt, the
Administrative Agent (in its capacity as Administrative Agent) shall have no responsibility for maintaining a Participant Register.” 

(ss)    Section 10.17 of the Credit Agreement is hereby amended by deleting the parenthetical therein. 

(tt)    Section 10.18 of the Credit Agreement is hereby amended and restated in its entirety as follows: 

“Section 10.18    No Advisory or Fiduciary Responsibility. In connection with all aspects of
each transaction contemplated hereby (including in connection with any amendment, waiver or other modification hereof or of any other Loan Document), the Borrower acknowledges and agrees, and acknowledges and agrees that it has informed its
Affiliates, that: (i) (A) no fiduciary, advisory or agency relationship between the Borrower and its Subsidiaries and any Agent, Arranger or Lender is intended to be or has been created in respect of any of the transactions contemplated hereby
and by the other Loan Documents, irrespective of whether any Agent, Arranger or Lender has advised or is advising the Borrower and its Subsidiaries on other matters, (B) the arranging and other services regarding this Agreement provided by the
Agents, Arrangers and Lenders are arm’s-length commercial transactions between the Borrower and its Subsidiaries, on the one hand, and the Agents, Arrangers and Lenders, on the other hand, (C) the
Borrower has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate, and (D) the Borrower is capable of evaluating, and understands and accepts, the terms, risks and conditions of the
transactions contemplated hereby and by the other Loan Documents; (ii) (A) each Agent, Arranger and Lender is and has been acting solely as a principal and, except as may otherwise be expressly agreed in writing by the relevant parties, has not
been, is not, and will not be acting as an advisor, agent or fiduciary for the Borrower or any of its Affiliates, or any other Person and (B) no Agent, Arranger or Lender has any obligation to the Borrower or any of its Affiliates with respect
to the transactions contemplated hereby except those obligations expressly set forth 

  
 -21- 

 
herein and in the other Loan Documents; and (iii) the Agents, Arrangers and Lenders and their respective Affiliates may be engaged in a broad range of transactions that involve interests
that differ from those of the Borrower and its Affiliates, and no Agent, Arranger or Lender has any obligation to disclose any of such interests and transactions to the Borrower or any of its Affiliates. To the fullest extent permitted by law, the
Borrower hereby waives and releases any claims that it may have against the Agents, Arrangers and Lenders with respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspect of any transaction contemplated
hereby.” 
 (uu)    Section 10.24 of the Credit Agreement is hereby amended and restated in its entirety as
follows: 
 “Section 10.24    [Reserved].” 

(vv)    The following new Section 10.26 is hereby added to the Credit Agreement: 

“Section 10.26    Acknowledgement and Consent to Bail-In of
EEA Financial Institutions. 
 Solely to the extent any Lender or any L/C Issuer that is an EEA Financial Institution is
a party to this Agreement and notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any Lender or L/C Issuer
that is an EEA Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the write-down and conversion powers of an EEA Resolution Authority and agrees and consents to, and acknowledges and
agrees to be bound by: 
  

	 	(a)	the application of any Write-Down and Conversion Powers by an EEA Resolution Authority to any such liabilities arising hereunder which may be payable to it by any Lender or L/C Issuer that is an EEA Financial
Institution; and 

  

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

  

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

  

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

 

	 	(iii)	the variation of the terms of such liability in connection with the exercise of the write-down and conversion powers of any EEA Resolution Authority.” 

(ww)    The Credit Agreement is hereby further amended by adding a new Schedule 2.03, to read in its entirety as outlined
in Schedule II hereof. 

  
 -22- 

 (xx)    The first sentence of Section 9.13 of the Credit Agreement is
hereby amended and restated as the following: 
 “None of the Lenders, the Arrangers, the Amendment No. 2
Arrangers, the Amendment No. 2 RCF Documentation Agents or other Persons identified on the facing page or signature pages of this Amendment as a “joint lead arranger,” or “joint bookrunner” shall have any right, power,
obligation, liability, responsibility or duty under this Agreement other than those applicable to all Lenders as such.” 
 ARTICLE IV

 CONDITIONS TO EFFECTIVENESS 

Section 4.01 Conditions to Effectiveness of this Amendment. This Amendment shall become effective on the first date (such date, the
“Amendment No. 2 Effective Date”) when each of the following conditions precedent have been fulfilled to the reasonable satisfaction of (or waived by) the Administrative Agent: 

(a)    Execution and Delivery of this Amendment. The Administrative Agent shall have received from
the Borrower, each Guarantor party hereto, each New Revolving Credit Lender, each New Term Lender, the Required Lenders and the Administrative Agent, duly executed counterparts of this Amendment. 

(b)    Borrowing Request. The Administrative Agent shall have received from the Borrower a Committed
Loan Notice in substantially the form of Exhibit A-1 to the Credit Agreement in accordance with the terms of the Credit Agreement. 

(c)    Secretary’s Certificates. The Administrative Agent shall have received (i) a
certificate of good standing with respect to each of the Loan Parties and (ii) a certificate executed by a Responsible Officer of each of the Loan Parties dated the Amendment No. 2 Effective Date, substantially in the form of the
certificate delivered in connection with Amendment No. 1, certifying as to the incumbency and specimen signature of each officer executing this Amendment or any other document delivered in connection herewith on behalf of each of the Loan
Parties and attaching (A) a true and complete copy of the organizational documents of each of the Loan Parties, including all amendments thereto, as in effect on the Amendment No. 2 Effective Date, certified as of a recent date by the
Secretary of State of the state of its organization, that has not been amended since the date of the last amendment thereto shown on the certificate of good standing furnished pursuant to clause (i) above, (B) a true and complete copy of the by-laws or other governing documents of each of the Loan Parties as in effect on the Amendment No. 2 Effective Date and at all times since the date prior to the date of the resolutions described in clause
(C) below and (C) a true and complete copy of resolutions duly adopted by the board of directors (or other similar governing body), of each of the Loan Parties authorizing the execution, delivery and performance of this Amendment and
certifying that such resolutions have not been modified, rescinded or amended and are in full force and effect. 

(d)    Legal Opinions. The Administrative Agent shall have received (i) an opinion of Skadden,
Arps, Slate, Meagher & Flom LLP, counsel to the Borrower and the Guarantors and (ii) an opinion of Dickinson Wright PLLC, local counsel to Visteon Global Technologies, Inc., a Michigan corporation, each addressed to the Administrative
Agent and the Lenders on the Amendment No. 2 Effective Date, in form and substance reasonably satisfactory to the Administrative Agent. 

  
 -23- 

 (e)    Fees and Expenses. (i) The Administrative
Agent and the Amendment No. 2 Arrangers shall have received, in immediately available funds, payment or reimbursement of all reasonable and documented costs, fees,
out-of-pocket expenses, compensation and other amounts then due and payable in connection with this Amendment, including, but not limited to, the reasonable and
documented out-of-pocket fees, disbursements and other charges of Cahill Gordon & Reindel LLP, counsel to the Administrative Agent and the Amendment No. 2
Arrangers, for which invoices have been presented at least three (3) Business Days prior to the Amendment No. 2 Effective Date (or as otherwise reasonably agreed to by the Borrower) and (ii) the Borrower shall have paid to the
Amendment No. 2 Arrangers the fees in the amounts previously agreed in writing to be received on the Amendment No. 2 Effective Date pursuant to the Amendment No. 2 Engagement Letter. 

(f)    Representations and Warranties. The representations and warranties of the Borrower and each
other Loan Party contained in Article V hereof shall be true and correct in all material respects (and in all respects if any such representation or warranty is already qualified by materiality) on and as of the Amendment No. 2 Effective Date,
except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material respects (and in all respects if any such representation or warranty is already
qualified by materiality) as of such earlier date. 
 (g)    Event of Default. Immediately prior
to and immediately after the Amendment No. 2 Effective Date, no Default or Event of Default shall have occurred and be continuing or shall result from the consummation of the transactions contemplated by this Amendment and the Amended Credit
Agreement. 
 (h)    Officer’s Certificate. The Administrative Agent shall have received a
certificate signed by a Responsible Officer of the Borrower certifying as to the satisfaction of the conditions set forth in paragraphs (f) and (g) of this Section 4.01. 

(i)    Solvency Certificate. The Administrative Agent shall have received a solvency certificate
from the chief financial officer of the Borrower (after giving effect to the consummation of the transactions contemplated by this Amendment) substantially in the form of Exhibit G to the Credit Agreement. 

ARTICLE V 

REPRESENTATIONS AND WARRANTIES 

Section 5.01    Representations and Warranties. In order to induce the Lenders to consent to the amendments
and waivers contained herein, the Borrower and each other Loan Party represent and warrant to each Lender party hereto as set forth below: 

(a)    The representations and warranties set forth in Article V of the Amended Credit Agreement and
each other Loan Document (as so amended) are, in each case, true and correct in all material respects (and in all respects if any such representation or warranty is already qualified by materiality) on and as of the Amendment No. 2 Effective
Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material respects (and in all respects if any such representation or warranty is already
qualified by materiality) as of such earlier date, and except that for purposes of this Amendment, the representations and warranties contained in Sections 5.05(a) and 5.05(b) of the 

  
 -24- 

 
Credit Agreement shall be deemed to refer to the most recent financial statements furnished pursuant to Section 6.01(a) and (b), respectively, prior to the Amendment No. 2 Effective Date.

 (b)    This Amendment constitutes a legal, valid and binding obligation of the Borrower and each other
Loan Party, enforceable against the Borrower and each other Loan Party in accordance with its terms, except as such enforceability may be limited by bankruptcy insolvency, reorganization, receivership, moratorium or other Laws affecting
creditors’ rights generally and by general principles of equity. 
 (c)    The Borrower and each of
the Loan Parties have all requisite corporate or other organizational power and authority to enter into this Amendment and to perform their respective obligations under this Amendment and the Amended Credit Agreement. 

(d)    As of the Amendment No. 2 Effective Date (and giving effect to this Amendment), no Event of
Default or Default has occurred and is continuing or, solely as of the Amendment No. 2 Effective Date, will result from the consummation of the transactions contemplated by this Amendment and the Amended Credit Agreement. 

ARTICLE VI 

MISCELLANEOUS 

Section 6.01    Headings. The various headings of this Amendment are inserted for convenience only and shall
not affect the meaning or interpretation of this Amendment or any provisions hereof. 

Section 6.02    Execution in Counterparts. This Amendment may be executed in counterparts (and by different
parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page of this Amendment by facsimile or
other electronic imaging means (including in .pdf format) shall be effective as delivery of a manually executed counterpart of this Amendment. 

Section 6.03    Successors and Assigns. This Amendment shall be binding upon and inure to the benefit of the
parties hereto and their respective successors and permitted assigns. 
 Section 6.04    Governing Law. The
governing law and jurisdiction provisions of Section 10.15 of the Credit Agreement shall apply mutatis mutandis to this Amendment. 

Section 6.05    Fees and Expenses. The Borrower agrees to pay all reasonable and documented out-of-pocket costs and expenses of the Administrative Agent incurred by the Administrative Agent in connection with the preparation, negotiation, execution, delivery and
enforcement of this Amendment and the Loan Documents referred to herein or contemplated hereby, including, but not limited to, the reasonable and documented fees, disbursements and other charges of Cahill Gordon & Reindel LLP, counsel to
the Administrative Agent, in each case, to the extent required by, and in accordance with, Section 10.04 of the Credit Agreement. 

Section 6.06    Waiver of Right to Trial by Jury. The waiver of jury trial provisions of Section 10.16 of
the Credit Agreement shall apply mutatis mutandis to this Amendment. 

  
 -25- 

 Section 6.07    Reaffirmation; Grant of Liens. 

(a)    Each Loan Party reaffirms as of the Amendment No. 2 Effective Date its covenants and agreements contained in
the Credit Agreement and each other Loan Document to which it is a party and confirms, agrees and acknowledges that, notwithstanding the consummation of this Amendment, such covenants and agreements, and the terms of each of the Loan Documents to
which it is a party, except as modified by this Amendment on the Amendment No. 2 Effective Date are not affected or impaired in any manner whatsoever and shall continue to be in full force and effect. Each of the Loan Parties hereby further
confirms its respective prior pledges and grants of security interests under and subject to the Loan Documents to which it is a party, and confirms, agrees and acknowledges that, notwithstanding the consummation of this Amendment, such prior
guarantees, pledges, and grants of security interests are not affected or impaired in any manner whatsoever and shall continue to be in full force and effect and shall also guarantee and secure all obligations as amended and reaffirmed pursuant to
the Credit Agreement and this Amendment. Each of the Loan Parties confirms, acknowledges and agrees that the Lenders, the New Term Lenders and the New Revolving Credit Lenders are “Lenders” and “Secured Parties” for all purposes
under the Loan Documents. For the avoidance of doubt, each Loan Party hereby reaffirms the provisions of Section 2 of the Security Agreement, dated April 9, 2014 (the “Security Agreement”), among the Borrower, each
Guarantor party thereto and the Administrative Agent (as amended, supplemented or otherwise modified from time to time), and agrees that all references in the Security Agreement to the “Secured Obligations” shall include the New Term Loans
and New Revolving Credit Loans. 
 (b)    As security for the payment or performance, as the case may be, in full of the
Secured Obligations (as defined in the Security Agreement), each of the Borrower and the Guarantors party hereto (i) hereby grants to the Administrative Agent, for the benefit of the Secured Parties, a security interest in the Borrower’s
or such Guarantor’s right, title and interest in and to the Collateral (as defined in the Security Agreement) and (ii) hereby authorizes the Administrative Agent to file, at any time or from time to time, one or more UCC financing or
continuation statements, and amendments thereto, including, without limitation, one or more UCC financing statements indicating that such financing statements cover all assets or all personal property, whether now owned or hereafter acquired (or
words of similar effect) of the undersigned, in each case without the signature of the undersigned, and regardless of whether any particular asset described in such financing statements falls within the scope of the UCC or the granting clause in
clause (i) of this Section 6.06(b). The security interest granted herein shall be subject to the terms, covenants and conditions set forth in the Security Agreement. 

(c)    Each Loan Party further confirms that, as amended by this Amendment, each Loan Document to which it is a party is,
and shall continue to be, in full force and effect and is hereby ratified, approved and confirmed in all respects. 

Section 6.08    Entire Agreement. This Amendment, the other Loan Documents and any separate letter agreements,
solely to the extent with respect to fees payable to the Administrative Agent and the Amendment No. 2 Arrangers, constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all previous
agreements and understandings, oral or written, relating to the subject matter hereof. 

Section 6.09    Effects of this Amendment. 

(a)    On and after the Amendment No. 2 Effective Date, the rights and obligations of the parties to the Credit
Agreement shall be governed by the Amended Credit Agreement. All references to the Credit Agreement in any document, instrument, agreement or writing shall be deemed to refer to the Amended Credit Agreement. 

  
 -26- 

 (b)    Other than as specifically provided herein, this Amendment shall not
operate as an amendment of any right, power or privilege of the Administrative Agent or any Lender under the Credit Agreement or any other Loan Document or of any other term or condition of the Credit Agreement or any other Loan Document, nor shall
the entering into of this Amendment preclude the Administrative Agent and/or any Lender from refusing to enter into any further amendments with respect thereto. This Amendment is not intended by any of the parties hereto to be interpreted as a
course of dealing which would in any way impair the rights or remedies of the Administrative Agent or any Lender except as expressly stated herein, and no Lender shall have any obligation to extend credit to the Borrower other than pursuant to the
terms of the Amended Credit Agreement and the other Loan Documents, as amended or supplemented to date (including by means of this Amendment). This Amendment shall not constitute a novation of the Credit Agreement or any other Loan Document and the
Credit Agreement shall continue in full force and effect as amended by this Amendment. 
 Section 6.10    Loan
Document Pursuant to Credit Agreement. This Amendment is a Loan Document executed pursuant to the Credit Agreement and shall be construed, administered and applied in accordance with all of the applicable terms and provisions of the Credit
Agreement (and, following the Amendment No. 2 Effective Date, the Amended Credit Agreement). 

Section 6.11    FATCA. Solely for purposes of determining withholding taxes imposed under FATCA, from and
after the Amendment No. 2 Effective Date, the Borrower and the Administrative Agent shall treat (and the Lenders hereby authorize the Administrative Agent to treat) the Amended Credit Agreement and any Term Loans and any Revolving Credit Loans
made thereunder as not qualifying as a “grandfathered obligation” within the meaning of Treasury Regulation Section 1.1471-2(b)(2)(i). 

[Signature Pages Follow] 

  
 -27- 

 IN WITNESS WHEREOF, the signatories hereto have caused this Amendment to be executed by their
respective officers thereunto duly authorized as of the day and year first above written. 
  

			
	VISTEON CORPORATION, as Borrower
		
	By:	 	 /s/ Jennifer L. Pretzel

		 	Name: Jennifer L. Pretzel
		 	Title: Vice President and Treasurer

 [Signature Page to Amendment No. 2 to Credit Agreement] 

  

 
			
	GUARANTORS:
	
	VISTEON ELECTRONICS CORPORATION
		
	        By:	 	 /s/ Jennifer L. Pretzel

		 	Name: Jennifer L. Pretzel
		 	Title: Treasurer
	
	VISTEON GLOBAL TECHNOLOGIES, INC.
		
	        By:	 	 /s/ Jennifer L. Pretzel

		 	Name: Jennifer L. Pretzel
		 	Title: Treasurer
	
	VISTEON GLOBAL TREASURY, INC.
		
	        By:	 	 /s/ Jennifer L. Pretzel

		 	Name: Jennifer L. Pretzel
		 	Title: Treasurer
	
	VISTEON SYSTEMS, LLC
		
	        By:	 	 /s/ Jennifer L. Pretzel

		 	Name: Jennifer L. Pretzel
		 	Title: Treasurer
	
	VISTEON INTERNATIONAL BUSINESS DEVELOPMENT, INC.
		
	        By:	 	 /s/ Jennifer L. Pretzel

		 	Name: Jennifer L. Pretzel
		 	Title: Treasurer
	
	VISTEON INTERNATIONAL HOLDINGS, INC.
		
	        By:	 	 /s/ Jennifer L. Pretzel

		 	Name: Jennifer L. Pretzel
		 	Title: Treasurer
	
	VISTEON EUROPEAN HOLDINGS, INC.
		
	        By:	 	 /s/ Jennifer L. Pretzel

		 	Name: Jennifer L. Pretzel
		 	Title: Treasurer
	
	VISTEON GLOBAL ELECTRONICS, INC.
		
	        By:	 	 /s/ Jennifer L. Pretzel

		 	Name: Jennifer L. Pretzel
		 	Title: Treasurer

 [Signature Page to Amendment No. 2 to Credit Agreement] 

 
			
	VISTEON EUROPEAN ELECTRONICS, INC.
		
	        By:	 	 /s/ Jennifer L. Pretzel

		 	Name: Jennifer L. Pretzel
		 	Title: Treasurer

 [Signature Page to Amendment No. 2 to Credit Agreement] 

 
			
	CITIBANK, N.A., as Administrative Agent,
		
	 By:
	 	 /s/ Matthew S. Burke

		 	 Name: Matthew S. Burke

		 	Title: Vice President

 [Signature Page to Amendment No. 2 to Credit Agreement] 

 NEW REVOLVING CREDIT LENDER SIGNATURE PAGE 

 

			
	 Citibank, N.A.

	 (Name of Institution)
 as a
New Revolving Credit Lender with a New Revolving Credit Commitment as set forth in Schedule I of Amendment No. 2

		
	By:	 	 /s/ Matthew S. Burke

		 	Name: Matthew S. Burke
		 	Title: Vice President

 [Signature Page to Amendment No. 2 to Credit Agreement] 

 NEW REVOLVING CREDIT LENDER SIGNATURE PAGE 

 

			
	 Bank of America, N.A.

	 (Name of Institution)
 as a
New Revolving Credit Lender with a New Revolving Credit Commitment as set forth in Schedule I of Amendment No. 2

		
	By:	 	 /s/ Brian Lukehart

		 	Name: Brian Lukehart
		 	Title: Director

 [Signature Page to Amendment No. 2 to Credit Agreement] 

 NEW REVOLVING CREDIT LENDER SIGNATURE PAGE 

 

			
	 Sumitomo Mitsui Banking Corporation

	 (Name of Institution)
 as a
New Revolving Credit Lender with a New Revolving Credit Commitment as set forth in Schedule I of Amendment No. 2

		
	By:	 	 /s/ Katsuyuki Kubo

		 	Name: Katsuyuki Kubo
		 	Title: Managing Director

 [Signature Page to Amendment No. 2 to Credit Agreement] 

 NEW REVOLVING CREDIT LENDER SIGNATURE PAGE 

 

			
	 Barclays Bank plc

	 (Name of Institution)
 as a
New Revolving Credit Lender with a New Revolving Credit Commitment as set forth in Schedule I of Amendment No. 2

		
	By:	 	 /s/ May Huang

		 	Name: May Huang
		 	Title: Assistant Vice President
		 	.

 [Signature Page to Amendment No. 2 to Credit Agreement] 

 NEW REVOLVING CREDIT LENDER SIGNATURE PAGE 

 

			
	 UBS AG, STAMFORD BRANCH

	 (Name of Institution)
 as a
New Revolving Credit Lender with a New Revolving Credit Commitment as set forth in Schedule I of Amendment No. 2

		
	By:	 	 /s/ Craig Pearson

		 	Name: Craig Pearson
		 	Title: Associate Director
		
	By:	 	 /s/ Kenneth Chin

		 	Name: Kenneth Chin
		 	Title: Director

 [Signature Page to Amendment No. 2 to Credit Agreement] 

 NEW REVOLVING CREDIT LENDER SIGNATURE PAGE 

 

			
	 U.S. BANK NATIONAL ASSOCIATION

	 (Name of Institution)
 as a
New Revolving Credit Lender with a New Revolving Credit Commitment as set forth in Schedule I of Amendment No. 2

		
	By:	 	 /s/ Jeffrey S. Johnson

		 	Name: Jeffrey S. Johnson
		 	Title: Senior Vice President

 [Signature Page to Amendment No. 2 to Credit Agreement] 

 NEW REVOLVING CREDIT LENDER SIGNATURE PAGE 

 

			
	 COMPASS BANK

	 (Name of Institution)
 as a
New Revolving Credit Lender with a New Revolving Credit Commitment as set forth in Schedule I of Amendment No. 2

		
	By:	 	 /s/ Daniel Feldman

		 	Name: Daniel Feldman
		 	Title: Vice President

 [Signature Page to Amendment No. 2 to Credit Agreement] 

 NEW REVOLVING CREDIT LENDER SIGNATURE PAGE 

 

			
	 DEUTSCHE BANK AG NEW YORK BRANCH

	 (Name of Institution)
 as a
New Revolving Credit Lender with a New Revolving Credit Commitment as set forth in Schedule I of Amendment No. 2

		
	By:	 	 /s/ Marcus Tarkington

		 	Name: Marcus Tarkington
		 	Title: Director
		
	By:	 	 /s/ Peter Cucchiara

		 	Name: Peter Cucchiara
		 	Title: Vice President

 [Signature Page to Amendment No. 2 to Credit Agreement] 

 NEW REVOLVING CREDIT LENDER SIGNATURE PAGE 

 

			
	 MORGAN STANLEY BANK, N.A.

	 (Name of Institution)
 as a
New Revolving Credit Lender with a New Revolving Credit Commitment as set forth in Schedule I of Amendment No. 2

		
	By:	 	 /s/ Michael King

		 	Name: Michael King
		 	Title: Authorized Signatory

 [Signature Page to Amendment No. 2 to Credit Agreement] 

 NEW REVOLVING CREDIT LENDER SIGNATURE PAGE 

 

			
	 COMERICA BANK

	 (Name of Institution)
 as a
New Revolving Credit Lender with a New Revolving Credit Commitment as set forth in Schedule I of Amendment No. 2

		
	By:	 	 /s/ Nicole Swigert

		 	Name: Nicole Swigert
		 	Title: Vice President

 [Signature Page to Amendment No. 2 to Credit Agreement] 

 NEW REVOLVING CREDIT LENDER SIGNATURE PAGE 

 

			
	 Bank of China, Chicago Branch

	 (Name of Institution)
 as a
New Revolving Credit Lender with a New Revolving Credit Commitment as set forth in Schedule I of Amendment No. 2

		
	By:	 	 /s/ Kefei Xu

		 	Name: Kefei Xu
		 	Title: SVP, Branch Manager

 [Signature Page to Amendment No. 2 to Credit Agreement] 

 NEW REVOLVING CREDIT LENDER SIGNATURE PAGE 

 

			
	 UNICREDIT BANK AG, NEW YORK BRANCH

	 (Name of Institution)
 as a
New Revolving Credit Lender with a New Revolving Credit Commitment as set forth in Schedule I of Amendment No. 2

		
	By:	 	 /s/ Ken Hamilton

		 	Name: Ken Hamilton
		 	Title: Managing Director
		
	By:	 	 /s/ Betsy Briggs

		 	Name: Betsy Briggs
		 	Title: Associate Director

 [Signature Page to Amendment No. 2 to Credit Agreement] 

 NEW REVOLVING CREDIT LENDER SIGNATURE PAGE 

 

			
	 Raiffeisen Bank International AG

	 (Name of Institution)
 as a
New Revolving Credit Lender with a New Revolving Credit Commitment as set forth in Schedule I of Amendment No. 2

		
	By:	 	 /s/ Josef Hörl

		 	Name: Josef Hörl
		 	Title:
		
	By:	 	 /s/ M. Zimmerman

		 	Name: M. Zimmerman
		 	Title:

 [Signature Page to Amendment No. 2 to Credit Agreement] 

 TERM LOAN SIGNATURE PAGES ARE ON FILE WITH 

ADMINISTRATIVE AGENT 
  

 SCHEDULE I 

Amendment No. 2 Revolving Credit Commitments 
  

			
	 Lender
	  	 Amendment No. 2 Revolving Commitment

	 Citibank, N.A.
	  	$45,000,000
	 Bank of America, N.A.
	  	$45,000,000
	 Sumitomo Mitsui Banking Corporation
	  	$30,000,000
	 Barclays Bank PLC
	  	$25,000,000
	 UBS AG, Stamford Branch
	  	$25,000,000
	 U.S. Bank National Association
	  	$25,000,000
	 Compass Bank
	  	$25,000,000
	 Deutsche Bank AG New York Branch
	  	$15,000,000
	 Morgan Stanley Bank, N.A.
	  	$15,000,000
	 Comerica Bank
	  	$15,000,000
	 Bank of China, Chicago Branch
	  	$15,000,000
	 UniCredit Bank AG, New York Branch
	  	$10,000,000
	 Raiffeisen Bank International AG
	  	$10,000,000
		  	  

	 TOTAL
	  	$300,000,000
		  	  

 [Signature Page to Amendment No. 2 to Credit Agreement] 

 SCHEDULE II 

Schedule 2.03 

L/C Commitments 
  

					
	 Lender
	 	L/C Commitment	 
	 Citibank, N.A.
	 	 	$37,500,000.00	 
	 Bank of America, N.A.
	 	 	$37,500,000.00	 
		 	  
	  
	 
	 TOTAL
	 	$	75,000,000.00SUBSCRIPTION
AGREEMENT

 

This
Subscription Agreement (this “Agreement”) is dated as of March 27, 2017, between NTN Buzztime, Inc., a Delaware
corporation (the “Company”), and each purchaser identified on the signature pages hereto (each, including its
successors and assigns, a “Purchaser” and collectively the “Purchasers”).

 

RECITALS

 

Subject
to the terms and conditions set forth in this Agreement and pursuant to the Company’s effective Registration Statement on
Form S-3 (File No. 333-215271), as filed with the Securities and Exchange Commission on December 22, 2016 (as amended and/or supplemented
from time to time, the “Registration Statement”), the Company desires to sell to each Purchaser, and each Purchaser,
severally and not jointly, desires to purchase from the Company, shares of Common Stock (as defined below) (such shares of Common
Stock, collectively the “Securities”), as more fully described in this Agreement.

 

In
consideration of the mutual covenants contained in this Agreement, and for other good and valuable consideration, the receipt
and adequacy of which are hereby acknowledged, the Company and each Purchaser agree as follows:

 

ARTICLE
I

DEFINITIONS

 

1.1       Definitions.
In addition to the terms defined elsewhere in this Agreement, the following terms have the meanings set forth in this Section
1.1:

 

“Affiliate”
means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common
control with a Person as such terms are used in and construed under Rule 405 under the Securities Act.

 

“Common
Stock” means the common stock of the Company, par value $0.005 per share.

 

“Common
Stock Equivalents” means any securities of the Company or the Subsidiaries which would entitle the holder thereof to
acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument
that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive,
Common Stock.

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

“Governmental
Entity” means any foreign, federal, state, municipal or local government, governmental, regulatory or administrative
authority, agency, instrumentality or commission or any United States court, tribunal, or judicial or arbitral body of any nature;
or any United States body exercising, or entitled to exercise, any administrative, executive, judicial, legislative, police, regulatory
or taxing authority or power of any nature.

 

“Knowledge
of the Company” means any particular fact, circumstance, event or other matter in question of which either the Company’s
chief executive officer or chief financial officer or both have actual knowledge.

 

“Law”
means any United States federal, state, municipal or local statute, law, ordinance, regulation, rule, code, executive order, injunction,
judgment, decree or other order of any Governmental Entity.

 

    	-1-

    	 

    

 

“Person”
means an individual, sole proprietorship, partnership, joint venture, trust, unincorporated association, corporation, limited
liability company, entity or Governmental Entity.

 

“Proceeding”
means an action, claim, suit, investigation or proceeding (including, without limitation, an informal investigation or partial
proceeding, such as a deposition), whether commenced or threatened.

 

“Purchase
Price” means the last official closing price of the Common Stock reported to the NYSE Consolidated Tape immediately
before entering into this Agreement (as reported on https://www.nyse.com/quote/XASE:NTN).

 

“Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

“SEC”
means the United States Securities and Exchange Commission.

 

“Short
Sales” includes, without limitation, (i) all “short sales” as defined in Rule 200 promulgated under Regulation
SHO under the Exchange Act, whether or not against the box, and all types of direct and indirect stock pledges, forward sale contracts,
options, puts, calls, short sales, swaps, “put equivalent positions” (as defined in Rule 16a-1(h) under the Exchange
Act) and similar arrangements (including on a total return basis), and (ii) sales and other transactions through non-U.S. broker
dealers or foreign regulated brokers.

 

“Subscription
Amount” means, as to each Purchaser, the aggregate amount to be paid for the Securities purchased hereunder as specified
below such Purchaser’s name on the signature page of this Agreement and next to the heading “Subscription Amount,”
in United States dollars and in immediately available funds.

 

“Trading
Day” means a day on which the Trading Market is open for trading.

 

“Trading
Market” means the NYSE MKT, LLC or such other markets or exchanges on which the Common Stock is primarily listed or
quoted for trading on the date in question.

 

ARTICLE
II

CLOSING AND DELIVERY OF SHARES AND FUNDS

 

2.1       Closing.

 

(a)       The
completion of the purchase and sale of the Securities (the “Closing”) shall take place at 10:00 a.m. Pacific
Time, on March 31, 2017, or at such other time as the Company and the Purchasers may mutually agree (the “Closing Date”),
at the offices of Breakwater Law Group LLP (“Company Counsel”), 1201 Camino Del Mar, Suite 202, Del Mar, CA
92014 or at such other location(s) or remotely by facsimile transmission or other electronic means as the Company and the Purchasers
may mutually agree.

 

(b)       At
the Closing, (a) the Company shall cause its transfer agent (the “Transfer Agent”) to deliver to each Purchaser,
via electronic book-entry, the number of Securities set forth on the Purchaser’s signature page to this Agreement (such
Securities, the “Purchaser Securities”) registered in the name of such Purchaser or, if so indicated on the
Investor Questionnaire attached hereto as Exhibit A, in the name of a nominee designated by such Purchaser, and (b) each
Purchaser shall deliver its Subscription Amount to the Company.

 

    	-2-

    	 

    

 

(c)       On
or prior to the Closing Date, the Company shall deliver or cause to be delivered to each Purchaser the following:

 

(1)       this
Agreement duly executed by the Company;

 

(2)       the
Company’s wire instructions, on Company letterhead and executed by the Chief Executive Officer or Chief Financial Officer;

 

(3)       A
copy of the irrevocable instructions to the Transfer Agent instructing the Transfer Agent to deliver on an expedited basis via
The Depository Trust Company Deposit or Withdrawal at Custodian system (“DWAC”) the Purchaser Securities, registered
in the name of such Purchaser or, if so indicated on the Investor Questionnaire attached hereto as Exhibit A, in the name
of a nominee designated by such Purchaser; and

 

(4)       the
Base Prospectus and the Prospectus Supplement (each as defined below) (which may be delivered in accordance with Rule 172 under
the Securities Act).

 

(d)       On
or prior to the Closing Date, each Purchaser shall deliver or cause to be delivered to the Company the following:

 

(1)       this
Agreement duly executed by such Purchaser; and

 

(2)       such
Purchaser’s Subscription Amount, which shall be made available for “Delivery Versus Payment” settlement with
the Company.

 

(e)       The
Company’s obligation to issue and sell the Purchaser Securities to a Purchaser and such Purchaser’s obligation to
purchase the Purchaser Securities from the Company shall be subject to: (t) the accuracy in all material respects (or, to the
extent representations or warranties are qualified by materiality or Material Adverse Effect, in all respects) when made and on
the Closing Date of the representations and warranties of the Company or the Purchasers, as applicable, contained herein (unless
as of a specific date therein in which case they shall be accurate as of such date); (u) all obligations, covenants and agreements
of the Company or the Purchasers, as applicable, required to be performed at or prior to the Closing Date shall have been performed;
(v) in the case of the Purchasers, the delivery by the Company of the items set forth in Section 2.1(c) of this Agreement; (w)
in the case of the Company, the delivery by the Purchasers of the items set forth in Section 2.1(d) of this Agreement; (x) the
Company’s receipt of approval from the Trading Market for listing of the Securities; (y) no objection shall have been raised
by the Trading Market with respect to the consummation of the purchase and sale of the Securities contemplated by this Agreement
in the absence of approval by the Company’s stockholders of such transaction; and (z) no stop order suspending the effectiveness
of the Registration Statement or any part thereof, or preventing or suspending the use of the Prospectus (as defined below) or
any part thereof, shall have been issued and no Proceeding for that purpose or pursuant to Section 8A under the Securities Act
shall have been initiated or threatened by the SEC (the conditions set forth in this Section 2.1(e), the “Closing Conditions”).

 

    	-3-

    	 

    

 

2.2       Offering.
The offering and sale of the Securities are being made pursuant to (A) the Registration Statement, including the prospectus contained
therein and the documents incorporated by reference therein (the “Base Prospectus”), and (B) a prospectus supplement
including the documents incorporated by reference therein (the “Prospectus Supplement” and together with the
Base Prospectus, the “Prospectus”) containing certain supplemental information regarding the Securities and
the terms of the offering and sale of the Securities and information that may be material to the Company and its securities that
was delivered to the Purchaser and will be filed with the SEC. The Base Prospectus and the offering terms contained herein are
collectively referred to herein as the “Disclosure Package.”

 

ARTICLE
III

REPRESENTATIONS AND WARRANTIES

 

3.1       Representations
and Warranties of the Company. The Company hereby represents and warrants to each Purchaser as follows as of the date hereof:

 

(a)       Organization
and Qualification. The Company is a corporation duly organized, validly existing and in good standing under the laws of the
State of Delaware and has all requisite corporate power and authority to perform its obligations under this Agreement. All of
the direct and indirect subsidiaries of the Company are set forth on Exhibit 21.1 to the Company’s Annual Report on Form
10-K for the year ended December 31, 2016 (the “Subsidiaries”). The Company owns, directly or indirectly, all
of the capital stock or other equity interests of each Subsidiary free and clear of any liens, mortgages, encumbrances, security
interests or other claims (“Liens”) and all of the issued and outstanding shares of capital stock of each Subsidiary
are validly issued and are fully paid, non-assessable and free of preemptive and similar rights to subscribe for or purchase securities.
Neither the Company nor any Subsidiary is in violation or default of any of the provisions of its respective certificate or articles
of incorporation, bylaws or other organizational or charter documents. Each of the Company and the Subsidiaries is duly qualified
to conduct business and is in good standing as a foreign corporation or other entity in each jurisdiction in which the nature
of the business conducted or property owned by it makes such qualification necessary, except where the failure to be so qualified
or in good standing, as the case may be, could not have or reasonably be expected to result in: (i) a material adverse effect
on the legality, validity or enforceability of this Agreement, (ii) a material adverse effect on the results of operations, assets,
business, prospects or condition (financial or otherwise) of the Company and the Subsidiaries, taken as a whole, or (iii) a material
adverse effect on the Company’s ability to perform in any material respect on a timely basis its obligations under this
Agreement (any of (i), (ii) or (iii), a “Material Adverse Effect”) and no Proceeding has been instituted in
any such jurisdiction revoking, limiting or curtailing or seeking to revoke, limit or curtail such power and authority or qualification.

 

(b)       Authorization.
The execution, delivery and performance by the Company of this Agreement and of the transactions contemplated hereby have been
duly and validly authorized by the Company, and no other corporate act or proceeding on the part of the Company, its board of
directors or its stockholders is necessary to authorize the execution, delivery or performance by the Company of this Agreement
or the consummation of any of the transactions contemplated hereby other than in connection with the Required Approvals (as defined
below). This Agreement has been duly executed and delivered by the Company and this Agreement constitutes a valid and binding
obligation of the Company, enforceable against the Company in accordance with its terms, except as such enforceability may be
limited by (i) general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of
general application affecting enforcement of creditors’ rights generally and (ii) laws relating to the availability of specific
performance, injunctive relief or other equitable remedies.

 

    	-4-

    	 

    

 

(c)       No
Conflict. The execution, delivery and performance by the Company of this Agreement and the consummation of the transactions
contemplated hereby will not (i) conflict with or violate any provision of the Company’s or any Subsidiary’s certificate
or articles of incorporation, bylaws or other organizational or charter documents, or (ii) conflict with, or constitute a default
(or an event that with notice or lapse of time or both would become a default) under, result in the creation of any Lien upon
any of the properties or assets of the Company or any Subsidiary, or give to others any rights of termination, amendment, acceleration
or cancellation (with or without notice, lapse of time or both) of, any agreement, credit facility, debt or other instrument (evidencing
a Company or Subsidiary debt or otherwise) or other understanding to which the Company or any Subsidiary is a party or by which
any property or asset of the Company or any Subsidiary is bound or affected, or (iii) conflict with or result in a violation of
any law, rule, regulation, order, judgment, injunction, decree or other restriction of any court or governmental authority to
which the Company or a Subsidiary is subject (including federal and state securities laws and regulations), or by which any property
or asset of the Company or a Subsidiary is bound or affected; except in the case of each of clauses (ii) and (iii), such as could
not have or reasonably be expected to result in a Material Adverse Effect.

 

(d)       Legal
Proceedings. There is no action, suit, inquiry, notice of violation, proceeding or investigation pending or, to the knowledge
of the Company, threatened against or affecting the Company, any Subsidiary or any of their respective properties before or by
any court, arbitrator, governmental or administrative agency or regulatory authority (federal, state, county, local or foreign)
(collectively, an “Action”) which (i) adversely affects or challenges the legality, validity or enforceability
of this Agreement or the Securities or (ii) could, if there were an unfavorable decision, have or reasonably be expected to result
in a Material Adverse Effect. Neither the Company nor any Subsidiary, nor any director or officer thereof, is or has been the
subject of any Action involving a claim of violation of or liability under federal or state securities laws or a claim of breach
of fiduciary duty. There has not been, and to the knowledge of the Company, there is not pending or contemplated, any investigation
by the SEC involving the Company or any current or former director or officer of the Company. To the knowledge of the Company,
the SEC has not issued any stop order or other order suspending the effectiveness of any registration statement filed by the Company
or any Subsidiary under the Exchange Act or the Securities Act.

 

(e)       Filings,
Consents and Approvals. The Company is not required to obtain any consent, waiver, authorization or order of, give any notice
to, or make any filing or registration with, any court or other federal, state, local or other governmental authority or other
Person in connection with the execution, delivery and performance by the Company of this Agreement including the sale and issuance
of the Securities, other than: (i) the filings required pursuant to Section 4.3 of this Agreement, (ii) the filing with the SEC
of the Prospectus Supplement, (iii) application(s) to each applicable Trading Market for the listing of the Securities for trading
thereon in the time and manner required thereby and (iv) such filings as are required to be made under applicable state securities
laws (collectively, the “Required Approvals”).

 

    	-5-

    	 

    

 

(f)       Issuance
of Securities. The Securities are duly authorized and, when issued and paid for the consideration as set forth in this Agreement,
will be duly and validly issued, fully paid and nonassessable free and clear of all Liens imposed by the Company. The Company
has reserved from its duly authorized capital stock the maximum number of shares of Common Stock issuable pursuant to this Agreement.
The Company has prepared and filed the Registration Statement in conformity with the requirements of the Securities Act, which
became effective on January 9, 2014 (the “Effective Date”), including the Prospectus, and such amendments and
supplements thereto as may have been required to the date of this Agreement. The Registration Statement is effective under the
Securities Act and no stop order preventing or suspending the effectiveness of the Registration Statement or suspending or preventing
the use of the Prospectus has been issued by the SEC and no Proceedings for that purpose have been instituted or, to the knowledge
of the Company, are threatened by the SEC. The Company, if required by the rules and regulations of the SEC, shall file the Prospectus
with the SEC pursuant to Rule 424(b). At the time the Registration Statement and any amendments thereto became effective, at the
date of this Agreement and at the Closing Date, the Registration Statement and any amendments thereto conformed and will conform
in all material respects to the requirements of the Securities Act and did not and will not contain any untrue statement of a
material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not
misleading; and the Prospectus and any amendments or supplements thereto, at time the Prospectus or any amendment or supplement
thereto was issued and at the Closing Date, conformed and will conform in all material respects to the requirements of the Securities
Act and did not and will not contain an untrue statement of a material fact or omit to state a material fact necessary in order
to make the statements therein, in light of the circumstances under which they were made, not misleading.

 

(g)       Capitalization.
The capitalization of the Company as of a recent date is as set forth in the Registration Statement and the Prospectus. The Company
has not issued any capital stock since its most recently filed periodic report under the Exchange Act, other than pursuant to
the exercise of employee stock options under the Company’s stock option plans, the issuance of shares of Common Stock to
employees pursuant to the Company’s employee stock purchase plans and pursuant to the conversion and/or exercise of Common
Stock Equivalents outstanding as of the date of the most recently filed periodic report under the Exchange Act. No Person has
any right of first refusal, preemptive right, right of participation, or any similar right to participate in the transactions
contemplated by this Agreement. Except pursuant to this Agreement, pursuant to the conversion and/or exercise of Common Stock
Equivalents outstanding as of the date of the most recently filed periodic report under the Exchange Act, pursuant to the Company’s
equity incentive plans and awards granted thereunder since the most recently filed periodic report under the Exchange Act, there
are no outstanding options, warrants, scrip rights to subscribe to, calls or commitments of any character whatsoever relating
to, or securities, rights or obligations convertible into or exercisable or exchangeable for, or giving any Person any right to
subscribe for or acquire, any shares of Common Stock or the capital stock of any Subsidiary, or contracts, commitments, understandings
or arrangements by which the Company or any Subsidiary is or may become bound to issue additional shares of Common Stock or Common
Stock Equivalents or capital stock of any Subsidiary. The issuance and sale of the Securities will not obligate the Company or
any Subsidiary to issue shares of Common Stock or other securities to any Person (other than the Purchasers) and will not, except
for the adjustment to the conversion rate of the Company’s Series A Preferred Stock, result in a right of any holder of
Company securities to adjust the exercise, conversion, exchange or reset price under any of such securities. There are no outstanding
securities or instruments of the Company or any Subsidiary that contain any redemption or similar provisions, and there are no
contracts, commitments, understandings or arrangements by which the Company or any Subsidiary is or may become bound to redeem
a security of the Company or such Subsidiary. The Company does not have any stock appreciation rights or “phantom stock”
plans or agreements or any similar plan or agreement. All of the outstanding shares of capital stock of the Company are duly authorized,
validly issued, fully paid and nonassessable, have been issued in compliance with all federal and state securities laws, and none
of such outstanding shares was issued in violation of any preemptive rights or similar rights to subscribe for or purchase securities
There are no stockholders agreements, voting agreements or other similar agreements with respect to the Company’s capital
stock to which the Company is a party or, to the knowledge of the Company, between or among any of the Company’s stockholders.

 

    	-6-

    	 

    

 

(h)       SEC
Reports. The Company has filed all reports, schedules, forms, statements and other documents required to be filed by the Company
under the Securities Act and the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof, for the two years preceding
the date hereof (or such shorter period as the Company was required by law or regulation to file such material) (the foregoing
materials, including the exhibits thereto and documents incorporated by reference therein, together with the Prospectus and the
Prospectus Supplement, being collectively referred to herein as the “SEC Reports”) on a timely basis or has
received a valid extension of such time of filing and has filed any such SEC Reports prior to the expiration of any such extension.
As of their respective dates, the SEC Reports complied in all material respects with the requirements of the Securities Act and
the Exchange Act, as applicable, and none of the SEC Reports, when filed, contained any untrue statement of a material fact or
omitted to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light
of the circumstances under which they were made, not misleading. The Company is subject to the provisions of Rule 144(i) under
the Securities Act.

 

(i)       Financial
Statements. The financial statements of the Company included in the SEC Reports comply in all material respects with applicable
accounting requirements and the rules and regulations of the SEC with respect thereto as in effect at the time of filing. Such
financial statements have been prepared in accordance with United States generally accepted accounting principles applied on a
consistent basis during the periods involved (“GAAP”), except as may be otherwise specified in such financial
statements or the notes thereto and except that unaudited financial statements may not contain all footnotes required by GAAP,
and fairly present in all material respects the financial position of the Company and its consolidated Subsidiaries as of and
for the dates thereof and the results of operations and cash flows for the periods then ended, subject, in the case of unaudited
statements, to normal, immaterial, year-end audit adjustments.

 

(j)       Material
Changes; Undisclosed Events, Liabilities or Developments. Since the date of the latest audited financial statements included
within the SEC Reports, except as specifically disclosed in a subsequent SEC Report filed prior to the date hereof, (i) there
has been no event, occurrence or development that has had or that could reasonably be expected to result in a Material Adverse
Effect, (ii) the Company has not incurred any liabilities (contingent or otherwise) other than (A) trade payables and accrued
expenses incurred in the ordinary course of business consistent with past practice and (B) liabilities not required to be reflected
in the Company’s financial statements pursuant to GAAP or disclosed in filings made with the SEC, (iii) the Company has
not altered its method of accounting, (iv) the Company has not declared or made any dividend or distribution of cash or other
property to its stockholders or purchased, redeemed or made any agreements to purchase or redeem any shares of its capital stock
other than regular dividends on outstanding shares of the Company’s preferred stock in accordance with its terms and (v)
the Company has not issued any equity securities to any officer, director or Affiliate, except pursuant to existing Company stock
option plans. The Company does not have pending before the SEC any request for confidential treatment of information. Except for
the issuance of the Securities contemplated by this Agreement, no event, liability, fact, circumstance, occurrence or development
has occurred or exists or is reasonably expected to occur or exist with respect to the Company or its Subsidiaries or their respective
businesses, prospects, properties, operations, assets or financial condition that would be required to be disclosed by the Company
under applicable securities laws at the time this representation is made or deemed made that has not been publicly disclosed at
least 1 Trading Day prior to the date that this representation is made.

 

(k)       Compliance.
Neither the Company nor any Subsidiary: (i) is in default under or in violation of (and no event has occurred that has not been
waived that, with notice or lapse of time or both, would result in a default by the Company or any Subsidiary under), nor has
the Company or any Subsidiary received notice of a claim that it is in default under or that it is in violation of, any indenture,
loan or credit agreement or any other agreement or instrument to which it is a party or by which it or any of its properties is
bound (whether or not such default or violation has been waived), (ii) is in violation of any judgment, decree or order of any
court, arbitrator or other governmental authority or (iii) is or has been in violation of any statute, rule, ordinance or regulation
of any governmental authority, including without limitation all foreign, federal, state and local laws relating to taxes, environmental
protection, occupational health and safety, product quality and safety and employment and labor matters, except in each case of
clauses (i), (ii) and (iii), as could not have or reasonably be expected to result in a Material Adverse Effect.

 

    	-7-

    	 

    

 

(l)       Regulatory
Permits. To the knowledge of the Company, the Company and the Subsidiaries possess all certificates, authorizations and permits
issued by the appropriate federal, state, local or foreign regulatory authorities necessary to conduct their respective businesses
as described in the SEC Reports, except where the failure to possess such permits could not reasonably be expected to result in
a Material Adverse Effect (“Material Permits”), and neither the Company nor any Subsidiary has received any
notice of proceedings relating to the revocation or modification of any Material Permit.

 

(m)       Title
to Assets. The Company and the Subsidiaries have good and marketable title in fee simple to all real property owned by them
and good and marketable title in all personal property owned by them that is material to the business of the Company and the Subsidiaries,
in each case free and clear of all Liens, except for (i) Liens as do not materially affect the value of such property and do not
materially interfere with the use made and proposed to be made of such property by the Company and the Subsidiaries and (ii) Liens
for the payment of federal, state or other taxes, for which appropriate reserves have been made therefor in accordance with GAAP
and, the payment of which is neither delinquent nor subject to penalties. Any real property and facilities held under lease by
the Company and the Subsidiaries are held by them under valid, subsisting and enforceable leases with which the Company and the
Subsidiaries are in compliance in all material respects.

 

(n)       Intellectual
Property. The Company and the Subsidiaries have, or have rights to use, all patents, patent applications, trademarks, trademark
applications, service marks, trade names, trade secrets, inventions, copyrights, licenses and other intellectual property rights
and similar rights necessary or required for use in connection with their respective businesses as described in the SEC Reports
and which the failure to so have could have a Material Adverse Effect (collectively, the “Intellectual Property Rights”).
None of, and neither the Company nor any Subsidiary has received a notice (written or otherwise) that any of, the Intellectual
Property Rights has expired, terminated or been abandoned, or is expected to expire or terminate or be abandoned, within two (2)
years from the date of this Agreement. Neither the Company nor any Subsidiary has received, since the date of the latest audited
financial statements included within the SEC Reports, a written notice of a claim or otherwise has any knowledge that the Intellectual
Property Rights violate or infringe upon the rights of any Person, except as could not have or reasonably be expected to not have
a Material Adverse Effect. To the knowledge of the Company, all such Intellectual Property Rights are enforceable and there is
no existing infringement by another Person of any of the Intellectual Property Rights. The Company and its Subsidiaries have taken
reasonable security measures to protect the secrecy, confidentiality and value of all of their intellectual properties, except
where failure to do so could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

 

(o)       Insurance.
The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks
and in such amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries are engaged, including,
but not limited to, directors and officers insurance coverage at least equal to the aggregate Subscription Amount. Neither the
Company nor any Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and
when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business without
a significant increase in cost.

 

    	-8-

    	 

    

 

(p)       Transactions
With Affiliates and Employees. Except as set forth in the SEC Reports and except for the purchase of Securities pursuant to
this Agreement, none of the officers or directors of the Company or any Subsidiary and, to the knowledge of the Company, none
of the employees of the Company or any Subsidiary is presently a party to any transaction with the Company or any Subsidiary (other
than for services as employees, officers and directors), including any contract, agreement or other arrangement providing for
the furnishing of services to or by, providing for rental of real or personal property to or from, providing for the borrowing
of money from or lending of money to or otherwise requiring payments to or from any officer, director or such employee or, to
the knowledge of the Company, any entity in which any officer, director, or any such employee has a substantial interest or is
an officer, director, trustee, stockholder, member or partner, in each case in excess of $120,000 other than for (i) payment of
salary or consulting fees for services rendered, (ii) reimbursement for expenses incurred on behalf of the Company and (iii) other
employee benefits, including stock option agreements under any stock option plan of the Company.

 

(q)       Sarbanes-Oxley;
Internal Accounting Controls. The Company and the Subsidiaries are in compliance with any and all applicable requirements
of the Sarbanes-Oxley Act of 2002 that are effective as of the date hereof, and any and all applicable rules and regulations promulgated
by the SEC thereunder that are effective as of the date hereof and as of the Closing Date. The Company and the Subsidiaries maintain
a system of internal accounting controls sufficient to provide reasonable assurance that: (i) transactions are executed in accordance
with management’s general or specific authorizations, (ii) transactions are recorded as necessary to permit preparation
of financial statements in conformity with GAAP and to maintain asset accountability, (iii) access to assets is permitted only
in accordance with management’s general or specific authorization, and (iv) the recorded accountability for assets is compared
with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences. The Company
and the Subsidiaries have established disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e))
for the Company and the Subsidiaries and designed such disclosure controls and procedures to ensure that information required
to be disclosed by the Company in the reports it files or submits under the Exchange Act is recorded, processed, summarized and
reported, within the time periods specified in the SEC’s rules and forms. The Company’s certifying officers have evaluated
the effectiveness of the disclosure controls and procedures of the Company and the Subsidiaries as of the end of the period covered
by the most recently filed periodic report under the Exchange Act (such date, the “Evaluation Date”). The Company
presented in its most recently filed periodic report under the Exchange Act the conclusions of the certifying officers about the
effectiveness of the disclosure controls and procedures based on their evaluations as of the Evaluation Date. Since the Evaluation
Date, there have been no changes in the internal control over financial reporting (as such term is defined in the Exchange Act)
of the Company and its Subsidiaries that have materially affected, or is reasonably likely to materially affect, the internal
control over financial reporting of the Company and its Subsidiaries.

 

(r)       Certain
Fees. Except as set forth in the Prospectus Supplement, no brokerage or finder’s fees or commissions are or will be
payable by the Company or any Subsidiary to any broker, financial advisor or consultant, finder, placement agent, investment banker,
bank or other Person with respect to the transactions contemplated by this Agreement. The Purchasers shall have no obligation
with respect to any fees or with respect to any claims made by or on behalf of other Persons for fees of a type contemplated in
this Section that may be due in connection with the transactions contemplated by this Agreement.

 

(s)       Investment
Company. The Company is not, and is not an Affiliate of, and immediately after receipt of payment for the Securities, will
not be or be an Affiliate of, an “investment company” within the meaning of the Investment Company Act of 1940, as
amended. The Company shall conduct its business in a manner so that it will not become an “investment company” subject
to registration under the Investment Company Act of 1940, as amended.

 

    	-9-

    	 

    

 

(t)       Listing
and Maintenance Requirements. The Common Stock is registered pursuant to Section 12(b) or 12(g) of the Exchange Act, and the
Company has taken no action designed to, or which to its knowledge is likely to have the effect of, terminating the registration
of the Common Stock under the Exchange Act nor has the Company received any notification that the SEC is contemplating terminating
such registration. Except as disclosed in SEC Reports, the Company has not, in the 12 months preceding the date hereof, received
notice from any Trading Market on which the Common Stock is or has been listed or quoted to the effect that the Company is not
in compliance with the listing or maintenance requirements of such Trading Market. Except for the fact that the Company anticipates
that its stockholders’ equity at March 31, 2017 will be less than $6,000,000 and because the Company has sustained losses
from continuing operations and/or net losses in five of its most recent fiscal years, the Company is, and has no reason to believe
that it will not in the foreseeable future continue to be, in compliance with all such listing and maintenance requirements. The
Common Stock is currently eligible for electronic transfer through the Depository Trust Company or another established clearing
corporation and the Company is current in payment of the fees to the Depository Trust Company (or such other established clearing
corporation) in connection with such electronic transfer.

 

(u)       Application
of Takeover Protections. The Company and the Board of Directors have taken all necessary action, if any, in order to render
inapplicable any control share acquisition, business combination, poison pill (including any distribution under a rights agreement)
or other similar anti-takeover provision under the Company’s certificate of incorporation (or similar charter documents)
or the laws of its state of incorporation that is or could become applicable to the Purchasers as a result of the Purchasers and
the Company fulfilling their obligations or exercising their rights under this Agreement, including without limitation as a result
of the Company’s issuance of the Securities and the Purchasers’ ownership of the Securities.

 

(v)       Disclosure.
Except with respect to the material terms and conditions of the transactions contemplated by this Agreement, the Company confirms
that neither it nor any other Person acting on its behalf has provided any of the Purchasers or their agents or counsel with any
information that it believes constitutes or might constitute material, non-public information which is not otherwise disclosed
in the Prospectus Supplement. The Company understands and confirms that the Purchasers will rely on the foregoing representation
in effecting transactions in securities of the Company. All of the disclosure furnished by or on behalf of the Company to the
Purchasers regarding the Company and its Subsidiaries, their respective businesses and the transactions contemplated hereby is
true and correct and does not contain any untrue statement of a material fact or omit to state any material fact necessary in
order to make the statements made therein, in light of the circumstances under which they were made, not misleading. The press
releases disseminated by the Company during the twelve months preceding the date of this Agreement taken as a whole do not contain
any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to
make the statements therein, in light of the circumstances under which they were made and when made, not misleading. The Company
acknowledges and agrees that no Purchaser makes or has made any representations or warranties with respect to the transactions
contemplated hereby other than those specifically set forth in Section 3.2 hereof.

 

(w)       No
Integrated Offering. Assuming the accuracy of the Purchasers’ representations and warranties set forth in Section 3.2,
neither the Company, nor any of its Affiliates, nor any Person acting on its or their behalf has, directly or indirectly, made
any offers or sales of any security or solicited any offers to buy any security, under circumstances that would cause this offering
of the Securities to be integrated with prior offerings by the Company for purposes of any applicable shareholder approval provisions
of any Trading Market on which any of the securities of the Company are listed or designated.

 

    	-10-

    	 

    

 

(x)       Tax
Status. Except for matters that would not, individually or in the aggregate, have or reasonably be expected to result in a
Material Adverse Effect, the Company and its Subsidiaries each (i) has made or filed all United States federal, state and local
income and all foreign income and franchise tax returns, reports and declarations required by any jurisdiction to which it is
subject, (ii) has paid all taxes and other governmental assessments and charges that are material in amount, shown or determined
to be due on such returns, reports and declarations and (iii) has set aside on its books provision reasonably adequate for the
payment of all material taxes for periods subsequent to the periods to which such returns, reports or declarations apply. There
are no unpaid taxes in any material amount claimed to be due by the taxing authority of any jurisdiction, and the officers of
the Company or of any Subsidiary know of no basis for any such claim.

 

(y)       Foreign
Corrupt Practices. Neither the Company nor any Subsidiary, nor to the knowledge of the Company or any Subsidiary, any agent
or other person acting on behalf of the Company or any Subsidiary, has (i) directly or indirectly, used any funds for unlawful
contributions, gifts, entertainment or other unlawful expenses related to foreign or domestic political activity, (ii) made any
unlawful payment to foreign or domestic government officials or employees or to any foreign or domestic political parties or campaigns
from corporate funds, (iii) failed to disclose fully any contribution made by the Company or any Subsidiary (or made by any person
acting on its behalf of which the Company is aware) which is in violation of law, or (iv) violated in any material respect any
provision of the Foreign Corrupt Practices Act of 1977, as amended.

 

(z)       Acknowledgment
Regarding Purchasers’ Purchase of Securities. The Company acknowledges and agrees that each of the Purchasers is acting
solely in the capacity of an arm’s length purchaser with respect to this Agreement and the transactions contemplated thereby.
The Company further acknowledges that no Purchaser is acting as a financial advisor or fiduciary of the Company (or in any similar
capacity) with respect to this Agreement and the transactions contemplated thereby and any advice given by any Purchaser or any
of their respective representatives or agents in connection with this Agreement and the transactions contemplated thereby is merely
incidental to the Purchasers’ purchase of the Securities. The Company further represents to each Purchaser that the Company’s
decision to enter into this Agreement has been based solely on the independent evaluation of the transactions contemplated hereby
by the Company and its representatives.

 

(aa)       
Acknowledgement Regarding Purchasers’ Trading Activity. Anything in this Agreement or elsewhere herein to the contrary
notwithstanding (except for Sections 3.2(f)), it is understood and acknowledged by the Company that: (i) none of the Purchasers
has been asked by the Company to agree, nor has any Purchaser agreed, to desist from purchasing or selling, long and/or short,
securities of the Company, or “derivative” securities based on securities issued by the Company or to hold the Securities
for any specified term; (ii) past or future open market or other transactions by any Purchaser, specifically including, without
limitation, Short Sales or “derivative” transactions, before or after the closing of this or future private placement
transactions, may negatively impact the market price of the Company’s publicly-traded securities; (iii) any Purchaser, and
counter-parties in “derivative” transactions to which any such Purchaser is a party, directly or indirectly, presently
may have a “short” position in the Common Stock, and (iv) each Purchaser shall not be deemed to have any affiliation
with or control over any arm’s length counter-party in any “derivative” transaction. The Company further understands
and acknowledges that (y) one or more Purchasers may engage in hedging activities at various times during the period that the
Securities are outstanding, and (z) such hedging activities (if any) could reduce the value of the existing stockholders’
equity interests in the Company at and after the time that the hedging activities are being conducted. The Company acknowledges
that such aforementioned hedging activities do not constitute a breach of this Agreement.

 

    	-11-

    	 

    

 

(bb)       Office
of Foreign Assets Control. Neither the Company nor any Subsidiary nor, to the Company’s knowledge, any director, officer,
agent, employee or Affiliate of the Company or any Subsidiary is currently subject to any U.S. sanctions administered by the Office
of Foreign Assets Control of the U.S. Treasury Department (“OFAC”).

 

(cc)       Money
Laundering. The operations of the Company and its Subsidiaries are and have been conducted at all times in compliance with
applicable financial record-keeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970,
as amended, applicable money laundering statutes and applicable rules and regulations thereunder (collectively, the “Money
Laundering Laws”), and no Action or Proceeding by or before any court or governmental agency, authority or body or any
arbitrator involving the Company or any Subsidiary with respect to the Money Laundering Laws is pending or, to the knowledge of
the Company or any Subsidiary, threatened.

 

3.2       Representations
and Warranties of the Purchasers. Each Purchaser, for itself and for no other Purchaser hereby, represents and warrants to
the Company as follows as of the date hereof:

 

(a)       Such
Purchaser, if not a natural person, is an entity duly organized, validly existing and in good standing under the laws of the jurisdiction
of its organization with full right, corporate, limited liability company or partnership power and authority to enter into and
to consummate the transactions contemplated by this Agreement and otherwise to carry out its obligations hereunder, and the execution
and delivery of this Agreement and performance by such Purchaser of the transactions contemplated by this Agreement have been
duly authorized by all necessary corporate, limited liability company, partnership or similar action on the part of such Purchaser.
This Agreement has been duly executed by such Purchaser, and when delivered by such Purchaser will constitute the valid and legally
binding obligation of such Purchaser, enforceable against it in accordance with its terms, except as such enforceability may be
limited by (i) general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of
general application affecting enforcement of creditors’ rights generally and (ii) laws relating to the availability of specific
performance, injunctive relief or other equitable remedies.

 

(b)       Such
Purchaser (i) is knowledgeable, sophisticated and experienced in making, and is qualified to make decisions with respect to, investments
in securities presenting an investment decision like that involved in the purchase of the Purchaser Securities, including investments
in securities issued by the Company and investments in comparable companies, and (ii) in connection with its decision to purchase
the Purchaser Securities, has received (or otherwise had made available to it by the filing by the Company of an electronic version
thereof with the SEC) the Disclosure Package, which includes pricing and other information regarding the purchase and sale of
the Securities, prior to or in connection with the receipt of this Agreement and is relying only on such information and documents
in making its decision to purchase the Securities.

 

(c)       (i)
If such Purchaser is outside the United States, it will comply with all applicable laws and regulations in each foreign jurisdiction
in which it purchases, offers, sells or delivers Purchaser Securities or has in its possession or distributes any offering material,
in all cases at its own expense and (ii) no agent of the Company has been authorized to make and no such agent has made any representation,
disclosure or use of any information in connection with the issue, placement, purchase and sale of the Purchaser Securities, except
as set forth in or incorporated by reference in the Base Prospectus or the Prospectus Supplement or as otherwise contemplated
by this Agreement.

 

(d)       Such
Purchaser is acquiring the Securities as principal for its own account and has no direct or indirect arrangement or understandings
with any other persons to distribute or regarding the distribution of such Securities (this representation and warranty not limiting
such Purchaser’s right to sell the Securities in compliance with applicable federal and state securities laws). Such Purchaser
is acquiring the Securities hereunder in the ordinary course of its business. If the Purchaser is an affiliate of the Company
(within the meaning of Rule 144 promulgated under the Securities Act), the Purchaser acknowledges and understands that the Purchaser
Securities may not be resold by the Purchaser unless such resale is registered under the Securities Act or such resale is effected
pursuant to a valid exemption from the registration requirements of the Securities Act.

 

    	-12-

    	 

    

 

(e)       Such
Purchaser (i) understands that nothing in this Agreement, the Disclosure Package or any other materials presented to the Purchaser
in connection with the purchase and sale of the Purchaser Securities constitutes legal, tax or investment advice; and (ii) has
consulted such legal, tax and investment advisors as it, in its sole discretion, has deemed necessary or appropriate in connection
with its purchase of Purchaser Securities.

 

(f)       Other
than consummating the transactions contemplated hereunder, such Purchaser has not directly or indirectly, nor has any Person acting
on behalf of or pursuant to any understanding with such Purchaser, executed any purchases or sales, including Short Sales, of
the securities of the Company during the period commencing as of the time that such Purchaser first learned of the specific purchase
and sale transaction being effected pursuant to this Agreement and ending immediately prior to the execution and delivery hereof.
Notwithstanding the foregoing, in the case of a Purchaser that is a multi-managed investment vehicle whereby separate portfolio
managers manage separate portions of such Purchaser’s assets and the portfolio managers have no direct knowledge of the
investment decisions made by the portfolio managers managing other portions of such Purchaser’s assets, the representation
set forth above shall only apply with respect to the portion of assets managed by the portfolio manager that made the investment
decision to purchase the Securities covered by this Agreement. Other than to other Persons party to this Agreement and to its
advisors who are under a legal obligation of confidentiality, such Purchaser has maintained the confidentiality of all disclosures
made to it in connection with the transactions contemplated by this Agreement (including the existence and terms of such transactions).
Such Purchaser covenants that it will not engage in any transactions in the securities of the Company or disclose any information
about the transactions contemplated by this Agreement (other than to other Persons party to this Agreement and to its advisors
who are under a legal obligation of confidentiality) prior to the time that the transactions contemplated by the Agreements are
publicly disclosed by the Company. As of the date hereof, the Purchaser does not own any shares of Common Stock that are borrowed.

 

(g)       Such
Purchaser understands that no United States federal or state agency or any other government or governmental agency has passed
on or made any recommendation or endorsement of the Securities or the fairness or suitability of the investment in the Securities
nor have such authorities passed upon or endorsed the merits of the offering of the Securities.

 

(h)       No
Person will have, as a result of the transactions contemplated by this Agreement, any valid right, interest or claim against or
upon the Company or such Purchaser for any commission, fee or other compensation pursuant to any agreement, arrangement or understanding
entered into by or on behalf of such Purchaser.

 

The
Company acknowledges and agrees that the representations contained in this Section 3.2 shall not modify, amend or affect such
Purchaser’s right to rely on the Company’s representations and warranties contained in this Agreement or any other
document or instrument executed and/or delivered in connection with this Agreement or the consummation of the transactions contemplated
hereby.

 

    	-13-

    	 

    

 

ARTICLE
IV

OTHER AGREEMENTS OF THE PARTIES

 

4.1       Furnishing
of Information. Until the earlier of (i) the two-year anniversary of the Closing Date or (ii) the time that no Purchaser owns
any Purchased Securities, the Company covenants to timely file (or obtain extensions in respect thereof and file within the applicable
grace period) all reports required to be filed by the Company after the date hereof pursuant to the Exchange Act even if the Company
is not then subject to the reporting requirements of the Exchange Act.

 

4.2       Integration.
The Company shall not sell, offer for sale or solicit offers to buy or otherwise negotiate in respect of any security (as defined
in Section 2 of the Securities Act) that would be integrated with the offer or sale of the Securities to the Purchasers in a manner
that would require the registration under the Securities Act of the sale of the Securities to the Purchasers or that would be
integrated with the offer or sale of the Securities for purposes of the rules and regulations of the Trading Market such that
it would require shareholder approval prior to the closing of such other transaction unless shareholder approval is obtained before
the closing of such subsequent transaction.

 

4.3       Securities
Laws Disclosure; Publicity. The Company shall by 9:00 a.m. (New York City time) on the Trading Day immediately following the
date hereof, (a) issue a press release disclosing the material terms of the transactions contemplated hereby, and (b) file a Current
Report on Form 8-K, including this Agreement and the press release as exhibits thereto, with the SEC within the time required
by the Exchange Act. From and after the filing of the Form 8-K, the Company represents to the Purchasers that it shall have publicly
disclosed all material, non-public information delivered to any of the Purchasers by the Company or any of its Subsidiaries, or
any of their respective officers, directors, employees or agents in connection with the transactions contemplated hereby. In addition,
effective upon the filing of the Form 8-K, the Company acknowledges and agrees that any and all confidentiality or similar obligations
under any agreement, whether written or oral, between the Company, any of its Subsidiaries or any of their respective officers,
directors, agents, employees or Affiliates on the one hand, and any of the Purchasers or any of their Affiliates on the other
hand, shall terminate. The Company and each Purchaser shall consult with each other in issuing any other press releases with respect
to the transactions contemplated hereby, and neither the Company nor any Purchaser shall issue any such press release nor otherwise
make any such public statement without the prior consent of the Company, with respect to any press release of any Purchaser, or
without the prior consent of each Purchaser, with respect to any press release of the Company, which consent shall not unreasonably
be withheld or delayed, except if such disclosure is required by law, in which case the disclosing party shall promptly provide
the other party with prior notice of such public statement or communication. Notwithstanding the foregoing, the Company shall
not publicly disclose the name of any Purchaser, or include the name of any Purchaser in any filing with the SEC or any regulatory
agency or Trading Market, without the prior written consent of such Purchaser, except (a) as required by federal securities law
in connection with the filing of this Agreement with the SEC and (b) to the extent such disclosure is required by law or Trading
Market regulations, in which case the Company shall provide the Purchasers with prior notice of such disclosure permitted under
this clause (b).

 

4.4       Shareholder
Rights Plan. No claim will be made or enforced by the Company or, with the consent of the Company, any other Person, that
any Purchaser is an “Acquiring Person” under any control share acquisition, business combination, poison pill (including
any distribution under a rights agreement) or similar anti-takeover plan or arrangement in effect or hereafter adopted by the
Company, or that any Purchaser could be deemed to trigger the provisions of any such plan or arrangement, by virtue of receiving
Securities under this Agreement or under any other agreement between the Company and the Purchasers.

 

    	-14-

    	 

    

 

4.5       Non-Public
Information. Except with respect to the material terms and conditions of the transactions contemplated hereby, which shall
be disclosed pursuant to Section 4.3, the Company covenants and agrees that neither it, nor any other Person acting on its behalf
will provide any Purchaser or its agents or counsel with any information that constitutes, or the Company reasonably believes
constitutes, material non-public information, unless prior thereto such Purchaser shall have consented to the receipt of such
information and agreed with the Company to keep such information confidential. The Company understands and confirms that each
Purchaser shall be relying on the foregoing covenant in effecting transactions in securities of the Company. To the extent that
the Company delivers any material, non-public information to a Purchaser without such Purchaser’s consent, the Company hereby
covenants and agrees that such purchaser shall not have any duty of confidentiality to Company, any of its Subsidiaries, or any
of their respective officers, directors, agents, employees or Affiliates, or a duty to the Company, and of its Subsidiaries or
any of their respective officers, directors, agents, employees or Affiliates not to trade on the basis of, such material, non-public
information, provided that the Purchaser shall remain subject to applicable law. To the extent that any notice provided pursuant
to this Agreement constitutes, or contains, material, non-public information regarding the Company or any Subsidiaries, the Company
shall simultaneously file such notice with the SEC pursuant to a Current Report on Form 8-K. The Company understands and confirms
that each Purchaser shall be relying on the foregoing covenant in effecting transactions in securities of the Company.

 

4.6       Use
of Proceeds. The Company shall use the net proceeds from the sale of the Securities hereunder for working capital purposes
and shall not use such proceeds: (a) for the satisfaction of any portion of the Company’s debt (other than payment of trade
payables in the ordinary course of the Company’s business and prior practices), (b) for the redemption of any Common Stock
or Common Stock Equivalents, (c) for the settlement of any outstanding litigation or (d) in violation of FCPA or OFAC regulations.

 

4.7       Indemnification
of Purchasers. Subject to the provisions of this Section 4.7, the Company will indemnify and hold each Purchaser and its directors,
officers, shareholders, members, partners, employees and agents (and any other Persons with a functionally equivalent role of
a Person holding such titles notwithstanding a lack of such title or any other title), each Person who controls such Purchaser
(within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act), and the directors, officers, shareholders,
agents, members, partners or employees (and any other Persons with a functionally equivalent role of a Person holding such titles
notwithstanding a lack of such title or any other title) of such controlling persons (each, a “Purchaser Party”)
harmless from any and all losses, liabilities, obligations, claims, contingencies, damages, costs and expenses, including all
judgments, amounts paid in settlements, court costs and reasonable attorneys’ fees and costs of investigation that any such
Purchaser Party may suffer or incur as a result of or relating to (a) any breach of any of the representations, warranties, covenants
or agreements made by the Company in this Agreement or (b) any action instituted against the Purchaser Parties in any capacity,
or any of them or their respective Affiliates, by any stockholder of the Company who is not an Affiliate of such Purchaser Party,
with respect to any of the transactions contemplated by this Agreement (unless such action is based upon a breach of such Purchaser
Party’s representations, warranties or covenants under this Agreements or any agreements or understandings such Purchaser
Party may have with any such stockholder or any violations by such Purchaser Party of state or federal securities laws or any
conduct by such Purchaser Party which constitutes fraud, gross negligence, willful misconduct or malfeasance). If any action shall
be brought against any Purchaser Party in respect of which indemnity may be sought pursuant to this Agreement, such Purchaser
Party shall promptly notify the Company in writing, and the Company shall have the right to assume the defense thereof with counsel
of its own choosing reasonably acceptable to the Purchaser Party. Any Purchaser Party shall have the right to employ separate
counsel in any such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense
of such Purchaser Party except to the extent that (i) the employment thereof has been specifically authorized by the Company in
writing, (ii) the Company has failed after a reasonable period of time to assume such defense and to employ counsel or (iii) in
such action there is, in the reasonable opinion of counsel, a material conflict on any material issue between the position of
the Company and the position of such Purchaser Party, in which case the Company shall be responsible for the reasonable fees and
expenses of no more than one such separate counsel. The Company will not be liable to any Purchaser Party under this Agreement
(y) for any settlement by a Purchaser Party effected without the Company’s prior written consent, which shall not be unreasonably
withheld or delayed; or (z) to the extent, but only to the extent that a loss, claim, damage or liability is attributable to any
Purchaser Party’s breach of any of the representations, warranties, covenants or agreements made by such Purchaser Party
in this Agreement. The indemnification required by this Section 4.7 shall be made by periodic payments of the amount thereof during
the course of the investigation or defense, as and when bills are received or are incurred. The indemnity agreements contained
herein shall be in addition to any cause of action or similar right of any Purchaser Party against the Company or others and any
liabilities the Company may be subject to pursuant to law.

 

    	-15-

    	 

    

 

4.8       Listing
of Common Stock. The Company hereby agrees to use best efforts to maintain the listing or quotation of the Common Stock on
the Trading Market on which it is currently listed, and concurrently with the Closing, the Company shall apply to list or quote
all of the Shares on such Trading Market and promptly secure the listing of all of the Securities on such Trading Market. The
Company further agrees, if the Company applies to have the Common Stock traded on any other Trading Market, it will then include
in such application all of the Securities, and will take such other action as is necessary to cause all of the Securities to be
listed or quoted on such other Trading Market as promptly as possible. The Company will then take all action reasonably necessary
to continue the listing and trading of its Common Stock on a Trading Market and will comply in all respects with the Company’s
reporting, filing and other obligations under the bylaws or rules of the Trading Market. The Company agrees to maintain the eligibility
of the Common Stock for electronic transfer through the Depository Trust Company or another established clearing corporation,
including, without limitation, by timely payment of fees to the Depository Trust Company or such other established clearing corporation
in connection with such electronic transfer.

 

4.9       Equal
Treatment of Purchasers. No consideration (including any modification of this Agreement) shall be offered or paid to any Person
to amend or consent to a waiver or modification of any provision of this Agreement unless the same consideration is also offered
to all of the parties hereto. For clarification purposes, this provision constitutes a separate right granted to each Purchaser
by the Company and negotiated separately by each Purchaser, and is intended for the Company to treat the Purchasers as a class
and shall not in any way be construed as the Purchasers acting in concert or as a group with respect to the purchase, disposition
or voting of Securities or otherwise.

 

4.10       Certain
Transactions and Confidentiality. Each Purchaser, severally and not jointly with the other Purchasers, covenants that neither
it nor any Affiliate acting on its behalf or pursuant to any understanding with it will execute any purchases or sales, including
Short Sales of any of the Company’s securities during the period commencing with the execution of this Agreement and ending
at such time that the transactions contemplated by this Agreement are first publicly announced pursuant to the initial press release
as described in Section 4.3. Each Purchaser, severally and not jointly with the other Purchasers, covenants that until such time
as the transactions contemplated by this Agreement are publicly disclosed by the Company pursuant to the initial press release
as described in Section 4.3, such Purchaser will maintain the confidentiality of the existence and terms of this transaction.
Notwithstanding the foregoing, and notwithstanding anything contained in this Agreement to the contrary, the Company expressly
acknowledges and agrees that (i) no Purchaser makes any representation, warranty or covenant hereby that it will not engage in
effecting transactions in any securities of the Company after the time that the transactions contemplated by this Agreement are
first publicly announced pursuant to the initial press release as described in Section 4.3, (ii) no Purchaser shall be restricted
or prohibited from effecting any transactions in any securities of the Company in accordance with applicable securities laws from
and after the time that the transactions contemplated by this Agreement are first publicly announced pursuant to the initial press
release as described in Section 4.3 and (iii) no Purchaser shall have any duty of confidentiality or duty not to trade in the
securities of the Company to the Company or its Subsidiaries after the issuance of the initial press release as described in Section
4.3. Notwithstanding the foregoing, in the case of a Purchaser that is a multi-managed investment vehicle whereby separate portfolio
managers manage separate portions of such Purchaser’s assets and the portfolio managers have no direct knowledge of the
investment decisions made by the portfolio managers managing other portions of such Purchaser’s assets, the covenant set
forth above shall only apply with respect to the portion of assets managed by the portfolio manager that made the investment decision
to purchase the Securities covered by this Agreement.

 

    	-16-

    	 

    

 

ARTICLE
V

MISCELLANEOUS

 

5.1       Termination.
This Agreement may be terminated by any Purchaser, as to such Purchaser’s obligations hereunder only and without any effect
whatsoever on the obligations between the Company and the other Purchasers, by written notice to the other parties, if the Closing
has not been consummated on or before April 7, 2017; provided, however, that no such termination will affect the right of any
party to sue for any breach by any other party (or parties).

 

5.2       Fees
and Expenses. Each party shall pay the fees and expenses of its advisers, counsel, accountants and other experts, if any,
and all other expenses incurred by such party incident to the negotiation, preparation, execution, delivery and performance of
this Agreement; it being understood that the Company and each Purchaser has relied for such matters on the advice of its own respective
advisers, counsel, accountants and other experts. The Company shall pay all Transfer Agent fees (including, without limitation,
any fees required for same-day processing of any instruction letter delivered by the Company), stamp taxes and other taxes and
duties levied in connection with the delivery of the Securities to the Purchasers.

 

5.3       Entire
Agreement. This Agreement, together with the exhibits and schedules hereto, if any, the Prospectus and the Prospectus Supplement
contain the entire understanding of the parties with respect to the subject matter hereof and supersedes all prior agreements
and understandings, oral or written, with respect to such matters, which the parties acknowledge have been merged into this Agreement
and such exhibits, schedules and documents.

 

5.4       Notices.
Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and
shall be deemed given and effective on the earliest of: (a) the date of transmission, if such notice or communication is delivered
via facsimile at the facsimile number or email attachment at the email address as set forth on the signature pages attached hereto
at or prior to 5:30 p.m. (New York City time) on a Trading Day, (b) the next Trading Day after the date of transmission, if such
notice or communication is delivered via facsimile at the facsimile number or email attachment at the email address as set forth
on the signature pages attached hereto on a day that is not a Trading Day or later than 5:30 p.m. (New York City time) on any
Trading Day, (c) the second (2nd)Trading Day following the date of mailing, if sent by U.S. nationally recognized overnight
courier service or (d) upon actual receipt by the party to whom such notice is required to be given. The address for such notices
and communications shall be as set forth on the signature pages attached hereto. To the extent that any notice provided pursuant
to this Agreement constitutes, or contains, material, non-public information regarding the Company or any Subsidiaries, the Company
shall simultaneously file such notice with the SEC pursuant to a Current Report on Form 8-K.

 

    	-17-

    	 

    

 

5.5       Amendments;
Waivers. No provision of this Agreement may be waived, modified, supplemented or amended except in a written instrument signed,
in the case of an amendment, by the Company and the Purchasers of at least 67% in interest of the aggregate Securities based on
the initial Subscription Amounts hereunder or, in the case of a waiver, by the party against whom enforcement of any such waived
provision is sought, provided that if any amendment, modification or waiver disproportionately and adversely impacts a Purchaser
(or group of Purchasers), the consent of such disproportionately impacted Purchaser (or group of Purchasers) shall also be required.
No waiver of any default with respect to any provision, condition or requirement of this Agreement shall be deemed to be a continuing
waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition or requirement hereof,
nor shall any delay or omission of any party to exercise any right hereunder in any manner impair the exercise of any such right.
Any proposed amendment or waiver that disproportionately, materially and adversely affects the rights and obligations of any Purchaser
relative to the comparable rights and obligations of the other Purchasers shall require the prior written consent of such adversely
affected Purchaser, any amendment effected in accordance with accordance with this Section 5.5 shall be binding upon each Purchaser
and holder of Securities and the Company.

 

5.6       Headings.
The headings of this Agreement are for convenience only, do not constitute a part of this Agreement and shall not be deemed to
limit or affect any of the provisions of this Agreement.

 

5.7       Successors
and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and permitted
assigns (including, without limitation, by merger, share exchange or other similar corporate reorganization or similar transaction).
The Company may not assign this Agreement or any rights or obligations hereunder without the prior written consent of each Purchaser
(other than by merger).

 

5.8       No
Third-Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective successors
and permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other Person, except as
otherwise set forth in Section 4.7 and this Section 5.8.

 

5.9       Governing
Law. All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed
by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles
of conflicts of law thereof. Each party agrees that all legal Proceedings concerning the interpretations, enforcement and defense
of the transactions contemplated by this Agreement (whether brought against a party hereto or its respective Affiliates, directors,
officers, shareholders, partners, members, employees or agents) shall be commenced exclusively in the state and federal courts
sitting in the City of New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal
courts sitting in the City of New York, Borough of Manhattan for the adjudication of any dispute hereunder or in connection herewith
or with any transaction contemplated hereby or discussed herein (including with respect to the enforcement of this Agreement),
and hereby irrevocably waives, and agrees not to assert in any Action or Proceeding, any claim that it is not personally subject
to the jurisdiction of any such court, that such Action or Proceeding is improper or is an inconvenient venue for such Proceeding.
Each party hereby irrevocably waives personal service of process and consents to process being served in any such Action or Proceeding
by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at
the address in effect for notices to it under this Agreement 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 other manner permitted by law. If any party shall commence an Action or Proceeding to enforce any provisions of this Agreement,
then, in addition to the obligations of the Company under Section 4.7, the prevailing party in such Action or Proceeding shall
be reimbursed by the non-prevailing party for its reasonable attorneys’ fees and other costs and expenses incurred with
the investigation, preparation and prosecution of such Action or Proceeding.

 

    	-18-

    	 

    

 

5.10       Survival.
The representations and warranties of the Company and each Purchaser shall survive the Closing and the delivery of the Securities.

 

5.11       Counterparts.
This Agreement may be executed in any number of counterparts, and each such counterpart shall be deemed to be an original instrument,
but all such counterparts together shall constitute but one agreement. The signatures of all the parties do not need to be on
the same counterpart for it to be effective. Delivery of an executed counterpart’s signature page of this Agreement, by
facsimile, electronic mail in portable document format (.pdf) or by any other electronic means intended to preserve the original
graphic and pictorial appearance of a document, has the same effect as delivery of an executed original of this Agreement.

 

5.12       Severability.
If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid,
illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain
in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their commercially
reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated
by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that
they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be
hereafter declared invalid, illegal, void or unenforceable.

 

5.13       Replacement
of Securities. If any certificate or instrument evidencing any Securities is mutilated, lost, stolen or destroyed, the Company
shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof (in the case of mutilation),
or in lieu of and substitution therefor, a new certificate or instrument, but only upon receipt of evidence reasonably satisfactory
to the Company of such loss, theft or destruction. The applicant for a new certificate or instrument under such circumstances
shall also pay any reasonable third-party costs (including customary indemnity) associated with the issuance of such replacement
Securities.

 

5.14       Remedies.
In addition to being entitled to exercise all rights provided herein or granted by law, including recovery of damages, each of
the Purchasers and the Company will be entitled to specific performance of the obligations of the other parties under this Agreement.
The parties agree that monetary damages may not be adequate compensation for any loss incurred by reason of any breach of obligations
contained in this Agreement and hereby agree to waive and not to assert in any action for specific performance of any such obligation
the defense that a remedy at law would be adequate.

 

5.15       Independent
Nature of Purchasers’ Obligations and Rights; Separate Counsel. The obligations of each Purchaser under this Agreement
are several and not joint with the obligations of any other Purchaser, and no Purchaser shall be responsible in any way for the
performance or non-performance of the obligations of any other Purchaser under this Agreement. Nothing contained herein, and no
action taken by any Purchaser pursuant thereto, shall be deemed to constitute the Purchasers as a partnership, an association,
a joint venture or any other kind of entity, or create a presumption that the Purchasers are in any way acting in concert or as
a group with respect to such obligations or the transactions contemplated by this Agreement. Each Purchaser shall be entitled
to independently protect and enforce its rights, including without limitation, the rights arising out of this Agreement, and it
shall not be necessary for any other Purchaser to be joined as an additional party in any Proceeding for such purpose. Each Purchaser
has been represented by its own separate legal counsel in its review and negotiation of this Agreement. The Company has elected
to provide all Purchasers with the same terms and this Agreement for the convenience of the Company and not because it was required
or requested to do so by any of the Purchasers. It is expressly understood and agreed that each provision contained in this Agreement
is between the Company and a Purchaser, solely, and not between the Company and the Purchasers collectively and not between and
among the Purchasers.

 

    	-19-

    	 

    

 

5.16       Construction.
The parties agree that each of them and/or their respective counsel have reviewed and had an opportunity to revise this Agreement
and, therefore, the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party
shall not be employed in the interpretation of this Agreement or any amendments thereto. For purposes of this Agreement, (a) the
words “include,” “includes” and “including” are deemed to be followed by the words “without
limitation”; (b) the word “or” is not exclusive; and (c) the words “herein,” “hereof,”
“hereby,” “hereto” and “hereunder” refer to this Agreement as a whole. Unless the context
otherwise requires, references herein: (x) to sections, schedules and exhibits mean the sections of, and schedules and exhibits
attached to, this Agreement; (y) to an agreement, instrument or other document means such agreement, instrument or other document
as amended, supplemented and modified from time to time to the extent permitted by the provisions thereof; and (z) to a statute
means such statute as amended from time to time and includes any successor legislation thereto and any regulations promulgated
thereunder. The schedules and exhibits referred to herein, if any, shall be construed with, and as an integral part of, this Agreement
to the same extent as if they were set forth verbatim herein. All references to “$” or “dollars” mean
the lawful currency of the United States of America. Whenever the masculine is used in this Agreement, the same shall include
the feminine and whenever the feminine is used herein, the same shall include the masculine, where appropriate. Whenever the singular
is used in this Agreement, the same shall include the plural, and whenever the plural is used herein, the same shall include the
singular, where appropriate.

 

5.17       WAIVER
OF JURY TRIAL. IN ANY ACTION, SUIT, OR PROCEEDING IN ANY JURISDICTION BROUGHT BY ANY PARTY AGAINST ANY OTHER PARTY, THE PARTIES
EACH KNOWINGLY AND INTENTIONALLY, TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY ABSOLUTELY, UNCONDITIONALLY, IRREVOCABLY
AND EXPRESSLY WAIVES FOREVER TRIAL BY JURY.

 

[Signature
Pages Follow]

 

    	-20-

    	 

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their respective authorized signatories
as of the date first indicated above.

 

	 	NTN
    Buzztime, Inc., a Delaware corporation 
	 	 	 
	 	By:	/s/
    Allen Wolff
	 	Name:	Allen
    Wolff
	 	Title:	EVP
    & CFO

 

	 	Address
    for Notice:
	 	 
	 	NTN
    Buzztime, Inc.
	 	2231
    Rutherford Road, Suite 200
	 	Carlsbad,
    CA 92008
	 	Attention:
    Chief Executive Officer 

 

[Signature
Pages for Purchasers Follow]

 

    	-21-

    	 

    

 

IN
WITNESS WHEREOF, the undersigned have caused this Agreement to be duly executed by their respective authorized signatories as
of the date first indicated above.

 

	Name
    of Purchaser:	 	North
    Star 10 10 Fund, LP
	 	 	 
	Signature
    of Authorized Signatory:	 	/s/
    Peter Gottlieb
	 	 	 
	Name
    of Authorized Signatory:	 	Peter
    Gottlieb
	 	 	 
	Title
    of Authorized Signatory:	 	General
    Partner
	 	 	 
	Email
    Address of Purchaser:	 	 
	 	 	 
	Facsimile
    Number of Purchaser:	 	 
	 	 	 
	Address
    for Notice of Purchaser:	 	 
	 	 	 
	Subscription
    Amount: 	 	$	799,993.50
	 	 	 	 
	Shares:	 	101,910.00

 

    	-22-

    	 

    

 

IN
WITNESS WHEREOF, the undersigned have caused this Agreement to be duly executed by their respective authorized signatories as
of the date first indicated above.

 

	Name
    of Purchaser:	 	North
    Star Micro Cap Fund
	 	 	 
	Signature
    of Authorized Signatory:	 	/s/
    Peter Gottlieb
	 	 	 
	Name
    of Authorized Signatory:	 	Peter
    Gottlieb
	 	 	 
	Title
    of Authorized Signatory:	 	President,
    North Star Investment Management Corp.
	 	 	 
	Email
    Address of Purchaser:	 	 
	 	 	 
	Facsimile
    Number of Purchaser:	 	 
	 	 	 
	Address
    for Notice of Purchaser:	 	 
	 	 	 
	Subscription
    Amount: 	 	$	770,006.50
	 	 	 	 
	Shares:	 	98,090.00

 

    	-23-

    	 

    

 

EXHIBIT
A

 

INVESTOR
QUESTIONNAIRE

 

Please
complete the following and provide it to the Company under separate cover.

 

Name
of Purchaser:_____________________________________________________________________________

 

	A.      The
    exact name in which the Purchaser Securities are to be registered. You may use a nominee name if appropriate:	 
	 	 
	B.      If
    applicable, the relationship between the Purchaser and the registered holder of the Securities:	 
	 	 
	C.      If
    using a nominee, the mailing address of the registered holder of the Securities:	 
	 	 
	D.      The
    social security number or tax identification number of the registered holder of the Securities:	 
	 	 
	If
    the Purchaser is electing electronic book-entry delivery for the Purchaser Securities, also provide the following:
	 
	Name
    of DTC Participant (broker-dealer at which the account to be credited with the Securities is maintained):	 
	 	 
	DTC
    Participant Number:	 
	 	 
	Name
    of Account at DTC Participant being credited with the Securities:	 
	 	 
	Account
    Number at DTC Participant being credited with the Securities:	 
	 	 
	Person
    to contact to initiate DWAC at Closing:	 
	 	 
	Name:	 
	Tel:	 
	Email:	 

 

    	-24-

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