Document:

Exhibit
4.9

FORM
OF

WARRANT
AGREEMENT

 

THIS
WARRANT AGREEMENT (“Warrant Agreement”), dated as of , 2017, by and between FRANKLY INC.,
a British Columbia corporation (the “Company”), and VStock Transfer, LLC, with offices at 18
Lafayette Place, Woodmere, New York (the “Warrant Agent”).

 

W
I T N E S S E T H

 

WHEREAS,
the Company may engage in an initial public offering of up to units (the “Units”) at an offering price
of $ per Unit (the “Offering”). Each Unit consists of one common share, no par value, of the Company
(the “Common Share”), and one Warrant to purchase one Common Share (each, a “Warrant”
and collectively, the “Warrants”). The Warrants are exercisable upon the terms and conditions and subject
to adjustment in certain circumstances, all as set forth in this Warrant Agreement.

 

WHEREAS, the Company may
engage in the Offering of the Units, and in connection therewith, may issue and deliver up to underlying Warrants to public investors,
including the Warrants in the underwriter’s overallotment-option. In addition, the Company has agreed to issue to the underwriter
for the Offering, warrants to purchase 6.5% of the Units issued in the Offering (exclusive of any securities issued pursuant to
the exercise of the underwriters’ over-allotment option), which may result in the issuance of an additional Warrants. Each
Warrant entitles the holder thereof to purchase one Common Share at the purchase price of $            per
share (the “Warrant Price”), subject to adjustment as described herein, at any time commencing as of
the Separation Date (as defined herein) and ending on             
    , 2022 (the “Expiration Date”) or upon earlier redemption.

 

WHEREAS,
if the Company determines to engage in the Offering, the Company will file with the Securities and Exchange Commission a Registration
Statement on Form S-1 and any amendments thereto for the registration under the Securities Act of 1933, as amended (the “Act”),
of, among other securities, the Units, the Common Shares, and the Warrants.

 

WHEREAS,
the Company desires to appoint the Warrant Agent to act on its behalf in connection with the (i) issuance, transfer and exchange
of the Book Entry Warrant Certificates (as defined herein) or Definitive Warrant Certificates (as defined herein), as applicable,
representing the Warrants (collectively, the “Warrant Certificates”), (ii) the exercise of the Warrants
by the registered holders thereof (together with any permitted registered successors or assigns, the “Registered Holders”)
and (iii) the adjustment of the Warrants in certain events as contained herein in accordance with the terms of the Warrants and
this Warrant Agreement;

 

NOW,
THEREFORE, in consideration of the mutual agreements herein contained, the parties hereto hereby agree as follows:

 

1.
APPOINTMENT OF WARRANT AGENT. The Company hereby appoints the Warrant Agent as its agent to issue the Warrant Certificates,
as set forth herein, subject to resignation or replacement of the Warrant Agent as provided herein. The Warrant Agent agrees to
accept such appointment, subject to the terms and conditions as set forth herein and to issue, and exchange the Warrant Certificates
pursuant to the terms provided for herein and to notify the Company’s transfer agent to issue the certificates representing
the appropriate number of Common Shares (or other consideration) upon exercise of the Warrants. The Company agrees to issue and
honor the Warrants on the terms and conditions as herein set forth and to instruct its transfer agent to issue its Common Shares
(or other securities) upon notice from the Warrant Agent of the proper exercise of any Warrant. The Warrant Agent is hereby empowered
to enforce any rights of the Registered Holders for the benefit of any Registered Holders, subject to the terms and conditions
contained herein.

 

2.
ISSUANCE OF WARRANT CERTIFICATES.

 

2.1.
Form of Warrant Certificate. All Warrants shall be issued substantially in the form annexed hereto as Exhibit A.
The terms of any such Warrant Certificate are incorporated herein by reference. All of the Warrants shall initially be represented
by one or more book-entry certificates (each a “Book Entry Warrant Certificate”).

 

    	 	 	 

     

    

 

2.2.
Execution of Warrants. The Warrants shall be issued in registered form only. In the case of certificated warrants, no Warrants
shall have been duly and validly issued until a Registered Holder has received a Warrant Certificate executed by the Chairman
of the Board of Directors, Chief Executive Officer or the President of the Company and the Secretary, Treasurer or Assistant Secretary
of the Company and such Certificate is countersigned by an authorized officer of the Warrant Agent. Any Warrant Certificate may
be executed by the officers of the Company by means of a facsimile signature. In the event the person whose signature has been
placed upon any Warrant shall have ceased to serve in the capacity in which such person signed the Warrant before such Warrant
is issued, it may be issued with the same effect as if he or she had not ceased to be such at the date of issuance.

 

2.3.
Maximum Number of Warrants. The Company hereby authorizes the Warrant Agent to issue up to an aggregate of Warrants pursuant
to the Company’s written instruction and the terms hereof, subject to adjustment as hereafter provided in Section 4
hereof.

 

2.4.
Rights Of A Registered Holder. Subject to adjustment as provided herein, each Warrant shall evidence the right to purchase
one Common Share at the Warrant Price. Following the Expiration Date, any Warrant not previously exercised shall be null and void,
and all rights thereunder and all rights in respect thereof under this Warrant Agreement shall cease at the close of business
on the Expiration Date.

 

2.5.
Warrant Register. The Warrant Agent shall maintain books (the “Warrant Register”) for the registration
of original issuance and the registration of transfer of the Warrants. Upon the initial issuance of the Warrants, the Warrant
Agent shall issue and register the Warrants in the names of the respective holders thereof in such denominations and otherwise
in accordance with instructions delivered to the Warrant Agent by the Company. All of the Warrants shall initially be represented
by one or more Book-Entry Warrant Certificates deposited with the Depository Trust Company (the “Depository”)
and registered in the name of CEDE & Co., a nominee of the Depository. Ownership of beneficial interests in the Warrants shall
be shown on, and the transfer of such ownership shall be effected through, records maintained by (i) the Depository or its nominee
for each Book-Entry Warrant Certificate, or (ii) institutions that have accounts with the Depository (such institution, with respect
to a Warrant in its account, a “Participant”).

 

If
the Depository subsequently ceases to make its book-entry settlement system available for the Warrants, the Company may instruct
the Warrant Agent regarding making other arrangements for book-entry settlement. In the event that the Warrants are not eligible
for, or it is no longer necessary to have the Warrants available in, book-entry form, the Warrant Agent shall provide written
instructions to the Depository to deliver to the Warrant Agent for cancellation each Book-Entry Warrant Certificate, and the Company
shall instruct the Warrant Agent to deliver to the Depository definitive certificates representing the Warrants (“Definitive
Warrant Certificates”) in physical form evidencing such Warrants. Such Definitive Warrant Certificates shall be
in the form annexed hereto as Exhibit A, as applicable, with appropriate insertions, modifications, and omissions, as provided
above.

 

2.6.
Beneficial Owner; Registered Holder. The term “beneficial owner” shall mean, on or after the Separation Date
(as defined below), any person in whose name ownership of a beneficial interest in the Warrants evidenced by a Book-Entry Warrant
Certificate is recorded in the records maintained by the Depository or its nominee, and prior to the Separation Date, the person
in whose name the Unit of which such Warrant or part thereof was originally part of, as registered upon the register relating
to such Units. Prior to due presentment for registration of transfer of any Warrant, the Company and the Warrant Agent may deem
and treat the Registered Holder (the person in whose name such Warrant shall be registered upon the Warrant Register), as the
absolute owner of such Warrant and of each Warrant represented thereby (notwithstanding any notation of ownership or other writing
on the Warrant Certificate made by anyone other than the Company or the Warrant Agent), for the purpose of any exercise thereof,
and for all other purposes, and neither the Company nor the Warrant Agent shall be affected by any notice to the contrary.

 

2.7.
Detachability of Warrants. The securities comprising the Units will not be separately transferable until , 2017 (the “Separation
Date”).

 

3.
EXERCISE OF WARRANT.

 

3.1.
Exercise Period. The Warrants may be exercised, in whole or in part, at any time commencing on the Separation Date and
ending at 5:00 P.M., New York City time, on the Expiration Date or earlier upon redemption (the “Exercise Period”);
provided, however that Warrants will only be exercisable if a registration statement relating to the Common Shares issuable upon
exercise of the Warrants is effective and current or the exercise of the Warrants is exempt from the registration requirements
of the Act and such securities are qualified for sale or exempt from qualification under applicable securities laws of the states
or other jurisdictions in which the Registered Holders reside. If the Expiration Date is not a Business Day (defined below), it
shall automatically be extended to 5:00 P.M. on the next day which is a Business Day. “Business Day”
means any day other than a Saturday, Sunday, or holiday on which banks in New York City are authorized by law to close.

 

    	 	 	 

     

    

 

3.2.
Means of Exercise. In order to exercise a Warrant, the Registered Holder must present and surrender the Warrant Certificate
to the Warrant Agent at its office, with the subscription form on the back of the Warrant Certificate (the “Subscription
Form”) duly executed and accompanied by payment in full, in the form of cash, by bank wire transfer in immediately
available funds, or by certified check or bank draft payable to the Company or its successor, of the aggregate Warrant Price for
the number of Common Shares specified in such Subscription Form.

 

3.3.
Payment. Subject to the provisions of the Warrant and this Warrant Agreement, a Warrant may be exercised by the Registered
Holder thereof by delivering, not later than 5:00 P.M., New York City time, on any Business Day during the Exercise Period (the
“Exercise Date”) (A) to the Warrant Agent at the office of the Warrant Agent, or at the office of its
successor as Warrant Agent, (i) the Definitive Warrant Certificate evidencing the Warrants to be exercised, or in the case of
a Book-Entry Warrant Certificate, the Warrants to be exercised (the “Book-Entry Warrants”), withdrawn
from Depositary’s account for cancellation, (ii) the Subscription Form properly completed and executed, or in the case of
a Book-Entry Warrant Certificate, properly delivered by the Participant in accordance with the Depository’s procedures;
and (B) to the Company, the Warrant Price for each full Common Share as to which the Warrants are exercised and any and all applicable
taxes due in connection with the exercise of the Warrants, the exchange of the Warrants for the Common Shares, and the issuance
of the Common Shares in full, in lawful money of the United States, by cash, by bank wire transfer in immediately available funds,
or by certified check or bank draft payable to the Company.

 

(a)
If any of (i) the Definitive Warrant Certificate or the Book-Entry Warrant Certificate, (ii) the Subscription Form, or (iii) the
Warrant Price therefor, is received by the Company after 5:00 P.M., New York City time, on a specified day or if such day is not
a Business Day, the Warrants will be deemed to be received and exercised on, and the applicable Exercise Date shall be the Business
Day next succeeding such day. If the Warrants are received or deemed to be received after the Expiration Date, the exercise thereof
will be null and void and any funds delivered to the Company will be returned to the Registered Holder or Participant, as the
case may be, as soon as practicable, and all rights thereunder and all rights in respect thereof under this Warrant Agreement
shall cease at the close of business on the Expiration Date. In no event will interest accrue on funds deposited with the Company
in respect of an exercise or attempted exercise of Warrants. The validity of any exercise of Warrants will be determined by the
Company in its sole discretion and such determination will be final and binding upon the Registered Holder and the Warrant Agent.
Neither the Company nor the Warrant Agent shall have any obligation to inform a Registered Holder of the invalidity of any exercise
of Warrants.

 

(b)
The Warrant Agent shall, by 11:00 A.M., New York City time, on the Business Day following the Exercise Date of any Warrant, advise
the Company and the transfer agent and registrar in respect of (i) the Common Shares issuable upon such exercise as to the number
of Warrants exercised in accordance with the terms and conditions of this Warrant Agreement, (ii) the instructions of each Registered
Holder or Participant, as the case may be, with respect to delivery of the Common Shares issuable upon such exercise, and the
delivery of Definitive Warrant Certificates, as appropriate, evidencing the balance, if any, of the Warrants remaining after such
exercise, (iii) in case of a Book-Entry Warrant Certificate, the notation that shall be made to the records maintained by the
Depository, its nominee for each Book-Entry Warrant Certificate, or a Participant, as appropriate, evidencing the balance, if
any, of the Warrants remaining after such exercise, and (iv) such other information as the Company or such transfer agent and
registrar shall reasonably require.

 

(c)
The Company shall, by 5:00 P.M., New York City time, on the third Business Day next succeeding the Exercise Date of any Warrant
and the clearance of the funds in payment of the Warrant Price, execute, issue, and deliver to the Warrant Agent, the Common Shares
to which such Registered Holder or Participant, as the case may be, is entitled, in fully registered form, registered in such
name or names as may be directed by such Registered Holder or the Participant, as the case may be. Upon receipt of such Common
Shares, the Warrant Agent shall, by 5:00 P.M., New York City time, on the fifth Business Day next succeeding such Exercise Date,
transmit such Common Shares to or upon the order of the Registered Holder or Participant, as the case may be.

 

    	 	 	 

     

    

 

(d)
In lieu of delivering physical certificates representing the Common Shares issuable upon exercise, provided the Company’s
transfer agent is participating in the Depository Fast Automated Securities Transfer program, the Company shall use its reasonable
best efforts to cause its transfer agent to electronically transmit the Common Shares issuable upon exercise to the Registered
Holder or Participant by crediting the account of Registered Holder’s prime broker with Depository or of the Participant
through its Deposit Withdrawal Agent Commission system. The time periods for delivery described in the immediately preceding paragraph
shall apply to the electronic transmittals described herein.

 

(e)
Warrants may be exercised only in whole numbers of Common Shares. No fractional Common Shares are to be issued upon the exercise
of the Warrant, but rather the number of Common Shares to be issued shall be rounded down to the nearest whole number. If fewer
than all of the Warrants evidenced by a Warrant Certificate are exercised, a new Warrant Certificate for the number of unexercised
Warrants remaining shall be executed by the Company and countersigned by the Warrant Agent, and delivered to the holder of such
Warrant Certificate at the address specified on the books of the Warrant Agent or as otherwise specified by such Registered Holder.
If fewer than all the Warrants evidenced by a Book-Entry Warrant Certificate are exercised, a notation shall be made to the records
maintained by the Depository, its nominee for each Book-Entry Warrant Certificate, or a Participant, as appropriate, evidencing
the balance of the Warrants remaining after such exercise.

 

(f)
The Company will pay all documentary stamp or other taxes or governmental charge attributable to the initial issuance of Common
Shares upon the exercise of Warrants; provided, however, that the Company shall not be required to pay any stamp or other tax
or governmental charge required to be paid in connection with any transfer involved in the issue of the Common Shares in a name
other than that of the Registered Holder of a Warrant Certificate surrendered upon the exercise of Warrants; and in the event
that any such transfer is involved, the Company shall not be required to issue or deliver any Common Shares until such tax or
other charge shall have been paid or it has been established to the Company’s satisfaction that no such tax or other charge
is due.

 

(g)
Any Common Shares issued pursuant to the exercise of Warrants prior to , 2017, whether in physical or electronic form, shall bear
or be deemed to bear the following legend:

 

“THIS
SECURITY MAY NOT BE TRADED IN THE PROVINCE OF BRITISH COLUMBIA, CANADA UNTIL , 2017, EXCEPT AS PERMITTED BY THE SECURITIES ACT
(BRITISH COLUMBIA) AND REGULATIONS MADE THEREUNDER.”3.4. Issuance of Warrant Certificates. Subject to Section
5.4 of this Warrant Agreement, and notwithstanding the foregoing, the Company shall not be obligated to deliver any securities
pursuant to the exercise of a Warrant unless (i) a registration statement under the Act with respect to the Common Shares is effective
or (ii) in the opinion of counsel to the Company, the exercise of the Warrants is exempt from the registration requirements of
the Act and such securities are qualified for sale or exempt from qualification under applicable securities laws of the states
or other jurisdictions in which the Registered Holders reside. Warrants may not be exercised by, or securities issued to, any
Registered Holder in any state in which such exercise would be unlawful.

 

3.5.
Valid Issuance. All Common Shares issued upon the proper exercise of a Warrant in conformity with this Warrant Agreement
shall be validly issued, fully paid, and non-assessable.

 

3.6.
Date of Issuance. Each person in whose name any such certificate for Common Shares is issued shall for all purposes be
deemed to have become the holder of record of such shares on the date on which the Warrant was surrendered and payment of the
Warrant Price was made, irrespective of the date of delivery of such certificate, except that, if the date of such surrender and
payment is a date when the stock transfer books of the Company are closed, such person shall be deemed to have become the holder
of such shares at the close of business on the next succeeding date on which the stock transfer books are open.

 

3.7.
No Cash Settlement. Notwithstanding anything to the contrary contained in this Warrant Agreement, under no circumstances
will the Company be required to net cash settle the exercise of the Warrants. As a result, any or all of the Warrants may expire
worthless.

 

    	 	 	 

     

    

 

4.
ADJUSTMENT OF WARRANT PRICE AND NUMBER OF SHARES PURCHASABLE AND OTHER ITEMS IN CERTAIN EVENTS. The Warrant Price
and the number of Common Shares purchasable upon exercise of any Warrant and the other terms and conditions of the Warrant shall
be subject to adjustment and modification as follows in the circumstances provided:

 

4.1.
The Warrant Price and the resulting number of Common Shares issuable under each Warrant shall be subject to adjustment as follows:

 

(a)
If the Company, after the date of this Warrant Agreement but before its exercise:

 

	 	(i)	pays
    a dividend or any other distribution payable in Common Shares;
	 	 	 
	  	(ii)	subdivides
    its outstanding Common Shares into a greater number of shares;
	 	 	 
	  	(iii)	combines
    its outstanding Common Shares into a smaller number of shares; or
	 	 	 
	  	(iv)	issues
    by reclassification of its Common Shares any shares of capital stock of the Company (other than a change in par value);

 

the
Warrant Price in effect and the number of shares purchasable upon the exercise of such Warrant immediately prior to such action
shall be adjusted so that the Registered Holder of each Warrant may receive the number of Common Shares of the Company to which
it would have been entitled upon such action if such Registered Holder had so exercised the Warrant immediately prior thereto.
An adjustment made pursuant to this Section 4 shall become effective immediately after the record date for the determination
of owners of Common Shares entitled thereto in the case of a dividend or distribution, and shall become effective immediately
after the effective date in the case of a subdivision, combination, reclassification, or issuance of rights, options or warrants
retroactive to the record date, if any, for such event.

 

(b)
No payment or adjustment shall be made by or on behalf of the Company on account of any cash dividends on the Common Shares issued
upon any exercise of a Warrant which was declared for payment to the holders of Common Shares of record as of a date prior to
the date on which such Warrant is exercised.

 

(c)
Upon each adjustment of the Warrant Price made pursuant to this Section 4, each Warrant shall thereafter (until another
such adjustment) evidence the right to purchase that number of Common Shares (calculated to the nearest hundredth) obtained by
dividing the initial Warrant Price by the Warrant Price in effect after such adjustment.

 

(d)
The Company’s failure to give the notice required by this Section 4 or any defect therein shall not affect the validity
of such action listed under this Section 4.1.

 

(e)
For the purpose of this Section 4.1, the term “Common Shares” shall mean (i) the class of Common Shares designated
as the Common Shares at the date of this Warrant Agreement, or (ii) any other class of Common Shares resulting from successive
changes or reclassifications of such shares consisting solely of changes in par value, from no par value to par value or from
par value to no par value. In the event that at any time, as a result of an adjustment made pursuant to this Section 4,
the Registered Holder shall become entitled to purchase any shares of the Company other than Common Shares, thereafter the number
of such other shares so purchasable upon exercise of each Warrant and the Warrant Price of such shares shall be subject to adjustment
from time to time in a manner and on terms as nearly equivalent as practicable to the provisions with respect to the Common Shares
contained in this Section 4.1.

 

4.2.
Liquidation, Dissolution or Winding Up. Notwithstanding any other provisions hereof, in the event of the liquidation, dissolution,
or winding up of the affairs of the Company (other than in connection with a merger or sale or conveyance of all or substantially
all of its assets outside of the ordinary course of business), the right to exercise each Warrant shall terminate and expire at
the close of business on the last full business day before the earliest date fixed for the payment of any distributable amount
on the Common Shares. The Company shall cause a notice to be mailed to each Registered Holder at least twenty (20) days prior
to the applicable record date for such payment stating the date on which such liquidation, dissolution or winding up is expected
to become effective, and the date on which it is expected that holders of Common Shares of record shall be entitled to exchange
their Common Shares for securities or other property or assets (including cash) deliverable upon such liquidation, dissolution
or winding up, and that each Registered Holder may exercise outstanding Warrants during such 20-day period and, thereby, receive
consideration in the liquidation on the same basis as other previously outstanding shares of the same class as the shares acquired
upon exercise. The Company’s failure to give notice required by this Section 4.2 or any defect therein shall not
affect the validity of such liquidation, dissolution or winding up.

 

    	 	 	 

     

    

 

4.3.
Merger, Consolidation, etc.

 

(a)
In case of any merger of the Company into any other entity or sale or conveyance of all or substantially all of its assets outside
of the ordinary course of business, or similar reorganization, including, but not limited to, in connection with the formation
of a holding company (such merger, sale, conveyance, or reorganization a “Change”), then, as a condition
of such Change, lawful and adequate provisions shall be made whereby the Registered Holders shall thereafter have the right to
receive upon payment of the Warrant Price in effect immediately prior to such Change, upon the basis and upon the terms and conditions
specified in this Warrant Agreement (including, but not limited to, all provisions contained in this Section 4), and in
lieu of the Company’s Common Shares purchasable upon the exercise of the Warrants, such Common Shares, securities, cash
or assets which such Registered Holder would have been entitled to receive after the happening of such Change had such Warrant
been exercised immediately prior to such Change. The provisions of this Section 4.3 shall similarly apply to successive
Changes. The Company shall cause a notice to be mailed to each Registered Holder at least twenty (20) days prior to the applicable
record date for the Change covered by this Section 4.3(a) and shall provide notice of the Change and shall set forth the
first and last date on which the Registered Holder may exercise outstanding Warrants. The Company’s failure to give the
notice required by this Section 4.3(a) or any defect therein shall not affect the validity of the Change covered by this
Section 4.3(a).

 

(b)
Notwithstanding the foregoing, if as a result of such Change, holders of the Company’s Common Shares shall receive consideration
other than solely in Common Shares or other securities in exchange for their Common Shares, the Company may, at its option, fulfill
its obligation hereunder by causing the notice required by Section 4.3(a) hereof to include notice to Registered Holders
of the opportunity to exercise their Warrants before the applicable record date for the Change, and thereby receive consideration
in the Change, on the same basis as other previously outstanding shares of the same class as the shares acquired upon exercise.
If the notice specified in the preceding sentence is provided to Registered Holders, Warrants not exercised in accordance with
this Section 4.3(b) before consummation of the Change shall be cancelled and become null and void on the effective date
of the Change. The notice provided by the Warrant Agent pursuant to this Section 4.3(b) shall include a description of
the terms of this Warrant Agreement providing for cancellation of the Warrants in the event that Warrants are not exercised by
the prescribed date. The Company’s failure to give any notice required by this Section 4.3(b) or any defect therein
shall not affect the validity of any such Change.

 

4.4.
Duty to Make Fair Adjustments in Certain Cases. If any event occurs as to which in the opinion of the Board of Directors
of the Company the other provisions of this Section 4 are not strictly applicable, or if strictly applicable would not
fairly protect the purchase rights of the Registered Holders in accordance with the essential intent and principles of this Warrant
Agreement, then the Board of Directors shall make an adjustment in the application of such provisions, in accordance with such
essential intent and principles, as to protect the purchase rights of the Registered Holders. Notwithstanding the foregoing, the
issuance of Common Shares or any securities convertible into Common Shares by the Company either for cash or in a merger, consolidation,
exchange or acquisition shall not, by itself, constitute a basis for requiring any adjustment in the Warrants unless specifically
enumerated herein.

 

4.5.
Good Faith Determination. Any determination as to whether an adjustment or limitation of exercise is required pursuant
to this Section 4 (and the amount of any adjustment) shall be binding upon the Registered Holders and the Company if made
in good faith by the Board of Directors.

 

4.6.
Notice of Adjustment. Upon every adjustment of the Warrant Price or the number of shares issuable on exercise of a Warrant,
the Company shall give written notice thereof to the Warrant Agent, which notice shall state the Warrant Price resulting from
such adjustment and the increase or decrease, if any, in the number of shares purchasable at such price upon the exercise of a
Warrant, setting forth in reasonable detail the method of calculation and the facts upon which such calculation is based. Upon
the occurrence of any event specified in Sections 4.1, 4.2, or 4.3, then, in any such event, the Company
shall give written notice to the Registered Holder, at the last address set forth for such holder in the Warrant Register, of
the record date or the effective date of the event. Failure to give such notice, or any defect therein, shall not affect the legality
or validity of such event

 

    	 	 	 

     

    

 

4.7.
No Change of Warrant Certificate Necessary. Irrespective of any adjustment in the Warrant Price or in the number or kind
of shares issuable upon exercise of the Warrants, the Warrant Certificates may continue to express the same price and number and
kind of shares as are stated in the Warrant Certificates as initially issued. However, the Company may at any time in its sole
discretion make any change in the form of Warrant that the Company may deem appropriate and that does not affect the substance
thereof, and any Warrant thereafter issued or countersigned, whether in exchange or substitution for an outstanding Warrant or
otherwise, may be in the form as so changed.

 

4.8.
No Fractional Shares upon Adjustment. Notwithstanding any provision contained in this Warrant Agreement to the contrary,
the Company shall not issue fractional shares upon exercise of Warrants. If, by reason of any adjustment made pursuant to this
Section 4, the holder of any Warrant would be entitled, upon the exercise of such Warrant, to receive a fractional interest
in a share, the Company shall, upon such exercise, round up to the nearest whole number the number of the Common Shares to be
issued to the Warrant holder.

 

4.9.
Notice of Certain Transactions. In the event that the Company shall propose to (a) offer the holders of its Common Shares
rights to subscribe for or to purchase any securities convertible into Common Shares or shares of stock of any class or any other
securities, rights or options, (b) issue any rights, options or warrants entitling the holders of Common Shares to subscribe for
Common Shares or (c) make a tender offer, redemption offer or exchange offer with respect to the Common Shares, the Company shall
send to the Registered Holders a notice of such proposed action or offer. Such notice shall be mailed to the Registered Holders
at their addresses as they appear in the Warrant Register, which shall specify the record date for the purposes of such dividend,
distribution or rights, or the date such issuance or event is to take place and the date of participation therein by the holders
of Common Shares, if any such date is to be fixed, and shall briefly indicate the effect of such action on the Common Shares and
on the number and kind of any other shares of stock and on other property, if any, and the number of Common Shares and other property,
if any, issuable upon exercise of each Warrant and the Warrant Price after giving effect to any adjustment pursuant to this Section
4 which would be required as a result of such action. Such notice shall be given as promptly as practicable after the Board
has determined to take any such action and (x) in the case of any action covered by clause (a) or (b) above, at least 10 days
prior to the record date for determining the holders of the Common Share for purposes of such action or (y) in the case of any
other such action, at least 20 days prior to the date of the taking of such proposed action or the date of participation therein
by the holders of Common Shares, whichever shall be the earlier.

 

5.
SHARES TO BE FULLY PAID; RESERVATION OF SHARES. The Company covenants and agrees for the benefit of the Registered
Holders:

 

5.1.
Due Authorization and Valid Issuance. That all Common Shares which may be issued upon the exercise of the rights represented
by the Warrant Certificates will, upon issue and payment of the aggregate Warrant Price therefore, be duly authorized, validly
issued, fully paid and non-assessable and free and clear of all liens and encumbrances, with no personal liability attaching to
the ownership thereof.

 

5.2.
Sufficient Number of Shares. That during the period within which the rights represented by the Warrant Certificates may
be exercised, the Company will at all times have authorized and reserved for the purpose of issue upon exercise of the rights
evidenced by the Warrant Certificates, a sufficient number of Common Shares to provide for the exercise of the rights represented
by the Warrant Certificates.

 

5.3.
Assurance of No Securities Law Violation. That the Company will take all such action as may be necessary to ensure that
the Common Shares issuable upon the exercise of the Warrants may be so issued without violation of any applicable federal or state
law or regulation, or of any requirements of any securities exchange upon which any capital Common Shares of the Company may be
listed, if any.

 

5.4.
Registration of Common Shares. The Company agrees that prior to the commencement of the Exercise Period, it shall use its
best efforts to prepare and file with the Securities and Exchange Commission a post-effective amendment to the Registration Statement
or a new registration statement for the registration under the Act of the Common Shares issuable upon exercise of the Warrants,
and it shall take such action as is necessary to qualify for sale, in those states in which the Warrants were initially offered
by the Company, the Common Shares issuable upon exercise of the Warrants. In either case, the Company will use its best efforts
to cause the same to become effective on or prior to the commencement of the Exercise Period and to maintain the effectiveness
of such registration statement and ensure that a prospectus is available for delivery to the Warrant holders until the expiration
of the Warrants in accordance with the provisions of this Warrant Agreement. The Warrants shall not be exercisable and the Company
shall not be obligated to issue Common Shares unless, at the time a holder seeks to exercise Warrants, a prospectus related to
the Common Shares issuable upon exercise of the Warrants is current and the Common Shares has been registered or qualified or
deemed to be exempt under the laws of the state of residence of the holder of the Warrants. In addition, the Company agrees to
use its best efforts to register such securities under the blue sky laws of the states of residence of exercising warrant holders,
if permitted by the blue sky laws of such jurisdictions, in the event that an exemption is not available. The provisions of this
Section 5.4 may not be modified, amended or deleted without the prior written consent of Roth Capital Partners, LLC.

 

    	 	 	 

     

    

 

6.
EXCHANGE, ASSIGNMENT OR LOSS OF WARRANT CERTIFICATE.

 

6.1.
Exchange. The Warrants shall be exchangeable at the option of the Registered Holder, upon presentation and surrender of
the Warrant Certificate at the office of the Warrant Agent for other Warrant Certificates of different denominations. Any Warrant
Certificate may be divided or combined with other Warrant Certificates into a Warrant Certificate evidencing the same aggregate
number of Warrants.

 

6.2.
Transfer or Assignment. Prior to the Separation Date, the Warrants may be transferred or exchanged only as part of the
Unit in which such Warrant is included, and only for the purpose of effecting, or in conjunction with, a transfer or exchange
of such Unit. For the avoidance of doubt, each transfer of a Unit on the register relating to such Units shall operate also to
transfer the Warrants included in such Unit. Upon surrender of the Warrant Certificate and similar Warrant Certificates at the
principal office of the Warrant Agent, by the Registered Holder hereof in person or by an attorney duly authorized in writing,
with the election to transfer section properly completed and duly executed, such Warrant Certificates may be transferred or exchanged
in the manner provided in the Warrant Certificate and without payment of any service charge, for another Warrant Certificate or
Warrant Certificates of like tenor, evidencing in the aggregate the number of Warrants evidenced by the Warrant Certificates so
surrendered and registered in the name or names as requested by the then registered owner thereof or by an attorney duly authorized
in writing; provided, however, that except as otherwise provided herein or in any Book-Entry Warrant Certificate, each Book-Entry
Warrant Certificate may be transferred only in whole and only to the Depository, to another nominee of the Depository, to a successor
depository, or to a nominee of a successor depository; provided further, however, that in the event that a Warrant surrendered
for transfer bears a restrictive legend, the Warrant Agent shall not cancel such Warrant and issue new Warrants in exchange therefor
until the Warrant Agent has received an opinion of counsel for the Company stating that such transfer may be made and indicating
whether the new Warrants must also bear a restrictive legend. Upon any such registration of transfer, the Company shall execute,
and the Warrant Agent shall countersign and deliver, in the name of the designated transferee a new Warrant certificate or Warrant
certificates of any authorized denomination evidencing in the aggregate a like number of unexercised Warrants. Warrants transferred
pursuant to this Section shall be accompanied by a proper payment of any applicable transfer taxes.

 

6.3.
Lost or Destroyed Warrant Certificates. Upon receipt by the Warrant Agent of evidence satisfactory to it of the loss, theft,
destruction or mutilation of a Warrant Certificate and (i) in the case of such loss, theft or destruction, of reasonably satisfactory
indemnification and bonding, or (ii) if mutilated, upon surrender and cancellation of such Warrant Certificate, the Warrant Agent
shall execute and deliver a new Warrant Certificate of like tenor. Any such new Warrant Certificate executed and delivered shall
constitute an additional contractual obligation on the part of the Company, whether or not the Warrant Certificate so lost, stolen,
destroyed or mutilated shall be at any time enforceable by anyone. Upon receipt by the Warrant Agent of evidence reasonably satisfactory
to it of the loss, theft, destruction or mutilation of a Warrant Certificate, which evidence shall include an affidavit of loss,
or in the case of mutilated certificates, the certificate or portion thereof remaining, and, in case of loss, theft or destruction,
of indemnity in customary form and amount, provision of a bond and satisfaction of any other reasonable requirements established
by Section 8-405 of the Uniform Commercial Code as in effect in the State of Delaware, and reimbursement to the Company and the
Warrant Agent of all reasonable expenses incidental thereto, and upon surrender to the Warrant Agent and cancellation of the Warrant
Certificate if mutilated, the Company will make and deliver a new Warrant Certificate of like tenor to the Warrant Agent for delivery
to the Holder in lieu of the Warrant Certificate so lost, stolen, destroyed or mutilated.

 

6.4.
Fractional Warrants. The Warrant Agent shall not be required to effect any registration of transfer or exchange which will
result in the issuance of a Warrant Certificate for a fraction of a Warrant.

 

    	 	 	 

     

    

 

7.
REDEMPTION.

 

7.1.
Redemption. Subject to Section 5.4 hereof, not less than all of the outstanding Warrants may be redeemed, at the
option of the Company, at any time after they become exercisable and prior to the Expiration Date, at the office of the Warrant
Agent, upon the notice referred to in Section 7.2, at the price of $0.01 per Warrant (the “Redemption Price”),
provided, however, that the last reported sales price of the Common Shares has been equal to or greater than the $ per share (appropriately
adjusted for any stock split, reverse stock split, stock dividend or other reclassification or combination of the Common Shares
occurring after the date hereof) for the 20-trading-day period ending on the third business day prior to the notice of redemption
to the Registered Holders and there is an effective registration statement covering the shares of Common Share issuable upon exercise
of the Warrants current and available.

 

7.2.
Date Fixed for, and Notice of, Redemption. In the event the Company shall elect to redeem all of the Warrants permitted
to be redeemed pursuant to Section 7.1 (the “Redeemable Warrants”), the Company shall fix a date
for the redemption. Notice of redemption shall be mailed by first class mail, postage prepaid, by the Company not less than 30
days prior to the date fixed for redemption to the Registered Holders of the Redeemable Warrants at their last addresses as they
shall appear on the registration books. Any notice mailed in the manner herein provided shall be conclusively presumed to have
been duly given on the date sent whether or not the Registered Holder received such notice.

 

7.3.
Exercise After Notice of Redemption. The Redeemable Warrants may be exercised for cash in accordance with Section 3
of this Warrant Agreement at any time after notice of redemption shall have been given by the Company pursuant to Section
7.2 hereof and prior to the time and date fixed for redemption. On and after the redemption date, the record holder of the
Redeemable Warrants shall have no further rights except to receive the Redemption Price upon surrender of the Redeemable Warrants.

 

7.4.
Outstanding Warrants Only. The Company understands that the redemption rights provided for by this Section 7 apply
only to outstanding Redeemable Warrants. To the extent a person holds rights to purchase Redeemable Warrants, such purchase rights
shall not be extinguished by redemption. However, once such purchase rights are exercised, the Company may redeem the Redeemable
Warrants issued upon such exercise provided that the criteria for redemption is met, including the opportunity of the Redeemable
Warrant holders to exercise prior to redemption pursuant to Section 7.3.

 

8.
NO ISSUANCE OF FRACTIONAL INTERESTS IN COMMON SHARE. The Company shall not be required to issue fractional Common
Shares on the exercise of the Warrants. If any fraction of a Common Share would be issuable upon the exercise of the Warrants
(or any specified portion thereof), the Company shall pay an amount in cash (or reduce the Exercise Price by an amount) equal
to the product of such fraction and the fair market value of a Common Share, as determined by the Company in the good faith exercise
of its discretion.

 

9.
NO RIGHTS AS STOCKHOLDERS. Except as specifically provided in this Warrant Agreement, nothing contained in this
Warrant Agreement or in the Warrant Certificates shall be construed as conferring upon the Registered Holders or any permitted
transferees the right to vote or to receive dividends or to receive notice as holders of Common Shares in respect of any meeting
of holders of Common Shares for the election of directors of the Company or any other matter, or any rights whatsoever as holders
of Common Shares of the Company.

 

10.
AGREEMENT OF REGISTERED HOLDERS. Every Registered Holder of a Warrant, by such Registered Holder’s acceptance
thereof, consents and agrees with the Company, the Warrant Agent and every other Registered Holder of a Warrant that the Company
and the Warrant Agent may deem and treat the person in whose name the Warrant Certificate is registered as the Registered Holder
and as the absolute, true and lawful owner of the Warrants represented thereby for all purposes, and neither the Company nor the
Warrant Agent shall be affected by any notice or knowledge to the contrary.

 

11.
DUTIES OF WARRANT AGENT. The Warrant Agent acts hereunder as agent and in a ministerial capacity for the Company,
and its duties shall be determined solely by the provisions hereof. The Warrant Agent shall not, by issuing and delivering Warrant
Certificates or by any other act hereunder be deemed to make any representations as to the validity, value or authorization of
the Warrant Certificates or the Warrants represented thereby or of any securities or other property delivered upon exercise of
any Warrant or whether any Common Shares issued upon exercise of any Warrant is fully paid and non-assessable.

 

    	 	 	 

     

    

 

The
Warrant Agent shall not at any time be under any duty or responsibility to any Registered Holder of Warrant Certificates to make
or cause to be made any adjustment of the Warrant Price provided in this Warrant Agreement, or to determine whether any fact exists
which may require any such adjustment, or with respect to the nature or extent of any such adjustment, when made, or with respect
to the method employed in making the same. It shall not (i) be liable for any recital or statement of facts contained herein or
for any action taken, suffered or omitted by it in reliance on any Warrant Certificate or other document or instrument believed
by it in good faith to be genuine and to have been signed or presented by the proper party or parties, (ii) be responsible for
any failure on the part of the Company to comply with any of its covenants and obligations contained in this Warrant Agreement
or in any Warrant Certificate, or (iii) be liable for any act or omission in connection with this Warrant Agreement except for
its own negligence or willful misconduct.

 

The
Warrant Agent may at any time consult with counsel satisfactory to it (who may be counsel for the Company) and shall incur no
liability or responsibility for any action taken, suffered or omitted by it in good faith in accordance with the opinion or advice
of such counsel.

 

Any
notice, statement, instruction, request, direction, order or demand by the Company shall be sufficiently evidenced if given orally
by the Chairman of the Board of Directors, the Chief Executive Officer, President or Chief Financial Officer of the Company, provided
that such instructions shall be reaffirmed in a written instrument executed by the officer giving such written instructions and
delivered to the Warrant Agent pursuant to Section 13.5 hereof. The Warrant Agent shall not be liable for any action taken,
suffered or omitted by it in accordance with such notice, statement, instruction, request, direction, order or demand believed
by it to be genuine.

 

The
Company agrees to pay the Warrant Agent reasonable compensation for its services hereunder and to reimburse it for its reasonable
expenses hereunder and further agrees to indemnify the Warrant Agent and save it harmless against any and all losses, expenses
and liabilities, including judgments, costs and counsel fees, for anything done or omitted by the Warrant Agent in the execution
of its duties and powers hereunder except losses, expenses and liabilities arising as a result of the Warrant Agent’s negligence
or willful misconduct.

 

The
Warrant Agent may resign its duties and be discharged from all further duties and liabilities hereunder (except liabilities arising
as a result of the Warrant Agent’s own negligence or willful misconduct), after giving sixty (60) days prior written notice
to the Company. At least thirty (30) days prior to the date such resignation is to become effective, the Warrant Agent shall cause
a copy of such notice of resignation to be mailed to the Registered Holder of each Warrant Certificate at the Company’s
expense. Upon such resignation, or any inability of the Warrant Agent to act as such hereunder, the Company shall appoint a new
Warrant agent in writing. The Company shall have complete discretion in the naming of a new Warrant agent, who may be an affiliate,
subsidiary or department of the Company, or any person used by the Company as transfer agent for the Common Shares. If the Company
shall fail to make such appointment within a period of fifteen (15) days after it has been notified in writing of such resignation
by the resigning Warrant Agent, then the Registered Holder of any Warrant Certificate may apply to any court of competent jurisdiction
for the appointment of a new Warrant agent.

 

The
Company may, upon notice to the Registered Holders, remove and replace the Warrant Agent if the Warrant Agent is the transfer
agent for the Company’s Common Shares and the Warrant Agent ceases to be the transfer agent for the Company’s Common
Share for any reason.

 

After
acceptance in writing of an appointment by a new Warrant agent is received by the Company, such new Warrant agent shall be vested
with the same powers, rights, duties and responsibilities as if it had been originally named herein as the Warrant Agent, without
any further assurance, conveyance, act or deed. Any former Warrant agent hereby agrees to cooperate with and deliver all records
and Warrant Certificates to the new Warrant agent at the direction of the new agent and the Company.

 

Not
later than the effective date of an appointment of a new Warrant agent by the Company, the Company shall file notice with the
resigning or terminated Warrant agent and shall forthwith cause a copy of such notice to be mailed to each Registered Holder.

 

Any
corporation into which the Warrant Agent or any new Warrant agent may be converted or merged or any corporation resulting from
any consolidation to which the Warrant Agent or any new Warrant agent shall be a party or any corporation succeeding to the trust
business of the Warrant Agent shall be a successor Warrant agent under this Warrant Agreement without any further act. Any such
successor Warrant agent shall promptly cause notice of its succession as Warrant agent to be mailed to the Company and to each
Registered Holder.

 

    	 	 	 

     

    

 

Nothing
herein shall preclude the Warrant Agent from acting in any other capacity for the Company.

 

Notwithstanding
anything in this Warrant Agreement to the contrary, the Warrant Agent shall not register Warrants, or permit or process the exercise
of Warrants where the Registered Holder or beneficial owner of the Common Shares underlying the Warrants upon exercise would be
a resident of the Province of British Columbia until [ ] [DATE THAT IS FOUR MONTHS AND ONE DAY FROM THE ISSUANCE DATE].

 

12.
MODIFICATION OF AGREEMENT. The Warrant Agent and the Company may by supplemental agreement make any changes or corrections
in this Warrant Agreement: (i) that they shall deem appropriate to cure any ambiguity or to correct any defective or inconsistent
provision or manifest mistake or error herein contained; or (ii) that they may deem necessary or desirable and which shall not
adversely affect the purchase or other material rights of the Registered Holders of Warrant Certificates. This Warrant Agreement
shall not otherwise be modified, supplemented or amended in any respect except with the consent in writing of the Registered Holders
of Warrant Certificates representing not less than 50% of the Warrants then outstanding, but no such amendment, modification or
supplement which changes the number or nature of the securities purchasable upon the exercise of any Warrant, the Warrant Price
or accelerates the Expiration Date, shall be made without the consent in writing of each and every Registered Holder (but no consent
shall be required for such changes as are specifically contemplated by this Warrant Agreement as originally executed).

 

13.
MISCELLANEOUS.

 

13.1.
Entire Agreement. This Warrant Agreement and the form of Warrant Certificate annexed hereto as Exhibit A contains
the entire Warrant Agreement between the parties hereto with respect to the transactions contemplated by this Warrant Agreement
and supersedes all prior negotiations, arrangements or understandings with respect thereto.

 

13.2.
Counterparts. This Warrant Agreement may be executed in one or more counterparts, all of which shall be considered one
and the same agreement and each of which shall be deemed an original.

 

13.3.
Governing Law. This Warrant Agreement shall be governed by the laws of the State of New York, without giving effect to
the principles of conflicts of laws thereof.

 

13.4.
Descriptive Headings. The descriptive headings of this Warrant Agreement are for convenience only and shall not control
or affect the meaning or construction of any provision of this Warrant Agreement.

 

13.5.
Notices. Any notice or other communications required hereunder to be given to a Registered Holder shall be in writing and
shall be sufficiently given, if mailed (first class, postage prepaid), or personally delivered, addressed in the name and at the
address of such Registered Holder appearing from time to time on the records of the Warrant Agent. Notices or other communications
to the Company shall be deemed to have been sufficiently given if delivered by hand or certified mailed to the Company as follows,
or at such other address as the Company shall have designated by written notice to the Warrant Agent:

 

Frankly
Inc.

333
Bryant Street, Suite 240

San
Francisco, CA 94107

Attention:
John Wilk, General Counsel

 

with
a copy to:

Ellenoff
Grossman & Schole LLP

1345
Avenue of the Americas

Attn:
Richard I. Anslow, Esq.

 

    	 	 	 

     

    

 

Notices
or other communications to the Warrant Agent shall be deemed to have been sufficiently given if delivered by hand or mailed (first
class, postage prepaid) to its then principal office. Notice by mail shall be deemed given when deposited in the mail, postage
prepaid.

 

13.6.
Successors. All the covenants and provisions of this Warrant Agreement by or for the benefit of the Company or the Warrant
Agent shall bind and inure to the benefit of their respective successors and assigns.

 

13.7.
Persons Having Rights Under this Warrant Agreement. Nothing in this Agreement expressed and nothing that may be implied
from any of the provisions hereof is intended, or shall be construed, to confer upon, or give to, any person or corporation other
than the parties hereto and the Registered Holders of the Warrants and, for the purposes of Sections 5.4, 7.1 and
7.4 hereof, the representative of the underwriters, any right, remedy or claim under or by reason of this Warrant Agreement
or of any covenant, condition, stipulation, promise, or agreement hereof. The representative of the underwriters (on behalf of
the underwriters) shall be deemed to be a third party beneficiary of this Agreement with respect to Sections 5.4, 7.1
and 7.4 hereof. All covenants, conditions, stipulations, promises, and agreements contained in this Warrant Agreement
shall be for the sole and exclusive benefit of the parties hereto (and the representative of the underwriters with respect Sections
5.4, 7.1 and 7.4 hereof) and their successors and assigns and of the Registered Holders of the Warrants.

 

13.8
Submission to Jurisdiction. The Company irrevocably (a) submits to the jurisdiction of the Supreme Court of the State of
New York, New York County, or the United States District Court for the Southern District of New York for the purpose of any suit,
action, or other proceeding arising out of this Agreement (each a “Proceeding”), (b) agrees that all claims in respect
of any Proceeding may be heard and determined in any such court, (c) waives, to the fullest extent permitted by law, any immunity
from jurisdiction of any such court or from any legal process therein, (d) agrees not to commence any Proceeding other than in
such courts, and (e) waives, to the fullest extent permitted by law, any claim that such Proceeding is brought in an inconvenient
forum. The Company irrevocably appoints [●], [address, phone and fax number], as its agent to receive service of process
or other legal summons for purposes of any such Proceeding that may be instituted in any court in the United States of America.
THE COMPANY (ON BEHALF OF ITSELF AND, TO THE FULLEST EXTENT PERMITTED BY LAW, ON BEHALF OF ITS RESPECTIVE EQUITY HOLDERS AND CREDITORS)
HEREBY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY CLAIM BASED UPON, ARISING OUT OF OR IN CONNECTION WITH
THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT.

 

IN
WITNESS WHEREOF, the Company and the Warrant Agent have executed this Warrant Agreement by their duly authorized officers
as of the date first set forth above.

 

	 	FRANKLY
    INC.
	 	 	 
	 	By:	              
	 	Name:	   
	 	Its:	   
	 	 	 
	 	[  ]	 
	 	 	 
	 	By:	   
	 	Name:	   
	 	Its:	   

 

FORM
OF WARRANT

 

THE
SECURITIES REPRESENTED BY THIS WARRANT CERTIFICATE (INCLUDING THE SECURITIES ISSUABLE UPON THE EXERCISE OF THE WARRANT) ARE SUBJECT
TO THE TERMS AND CONDITIONS SET FORTH IN THE WARRANT AGREEMENT DATED AS OF , 2017, BY AND BETWEEN THE COMPANY AND THE WARRANT
AGENT (THE “WARRANT AGREEMENT”). COPIES OF SUCH AGREEMENT MAY BE OBTAINED BY THE HOLDER HEREOF AT THE COMPANY’S
PRINCIPAL PLACE OF BUSINESS WITHOUT CHARGE.

 

    	 	 	 

     

    

 

THIS
WARRANT MAY NOT BE TRADED IN THE PROVINCE OF BRITISH COLUMBIA, CANADA UNTIL , 2017, EXCEPT AS PERMITTED BY THE SECURITIES ACT
(BRITISH COLUMBIA) AND REGULATIONS MADE THEREUNDER.

 

SPECIMEN
WARRANT CERTIFICATE

 

	 	 	 
	Certificate
    Number	 	 
	 	 	Warrants

 

THIS
WARRANT WILL BE VOID IF NOT EXERCISED PRIOR TO 5:00 P.M.

 

NEW
YORK CITY TIME, ON THE EXPIRATION DATE

 

FRANKLY
INC.

 

CUSIP
355325 119

 

WARRANT

 

This
certifies that FOR VALUE RECEIVED or his, her or its registered assigns (the “Holder”) is the registered
owner of warrants (“Warrants”) of Frankly Inc., a British Columbia corporation (the “Company”).
The Warrants are subject to the terms and conditions set forth in this certificate and the Warrant Agreement, and all capitalized
terms used herein and not otherwise defined shall have the meanings ascribed to them in the Warrant Agreement. Each Warrant entitles
the Holder to purchase one Common Share, no par value, of the Company (“Common Share”), at any time
after the Separation Date upon the presentation and surrender of this Warrant Certificate with the Subscription Form on the reverse
side hereof duly executed, at the corporate office of the Warrant Agent, accompanied by payment of the Warrant Price in the form
permitted under the Warrant Agreement.

 

This
Warrant Certificate and each Warrant represented hereby are issued pursuant to and are subject in all respects to the terms and
conditions set forth in the Warrant Agreement, a copy of which may be obtained from the Company at 333 Bryant Street, Suite 240,
San Francisco, CA 94107 or the Warrant Agent at 18 Lafayette Place, Woodmere, New York, by a written request from the Holder hereof
or which may be inspected by any Holder or his agent at the principal office of the Company or the Warrant Agent.

 

No
fractional Common Shares will be issued upon exercise of the Warrant. In the case of the exercise of less than all the Warrants
represented hereby, the Company shall cancel this Warrant Certificate upon the surrender hereof and shall execute and deliver
a new Warrant Certificate or Warrant Certificates of like tenor, which the Warrant Agent shall countersign, for the balance of
such Warrants.

 

Prior
to due presentment for registration of transfer hereof, the Company and the Warrant Agent shall treat the Holder as the absolute
owner hereof and of each Warrant represented hereby for all purposes and shall not be affected by any notice to the contrary.

 

This
Warrant Certificate shall be governed by and construed in accordance with the laws of the State of New York.

 

This
Warrant Certificate is not valid unless countersigned by the Warrant Agent.

 

This
Warrant does not entitle the Holder to any of the rights of a stockholder of the Company.

 

Subject
to Section 7 of the Warrant Agreement, the Company may redeem all, but not less than all, of the Warrants, at the option
of the Company, at any time after the Warrants become exercisable and prior to their expiration, at the office of the Warrant
Agent, upon the notice referred to in Section 7.2 of the Warrant Agreement, at the price of $0.01 per Warrant (the “Redemption
Price”), provided, however, that the last sales price of the Common Shares has been equal to or greater than the
$ per share for the 20-trading-day period ending on the third business day prior to the notice of redemption to the Registered
Holders.

 

    	 	 	 

     

    

 

IN
WITNESS WHEREOF, the Company has caused this Warrant Certificate to be duly executed, manually or in facsimile by two of its
officers thereunto duly authorized and a facsimile of its corporate seal to be imprinted thereon.

 

	(SEAL)
       	FRANKLY
    INC.
	 	 	 
	Dated:
        	By:	   
	   	 	Chief
Executive Officer
	 	 	 
	Dated:
        	By:	   
	   	 	Secretary,
Treasurer or Assistant Secretary

 

	[  ]	 
	 	 
	As
    Warrant Agent	 
	 	 	 
	By:		 
	 	Authorized
Officer	 

 

    	 	 	 

     

    

 

SUBSCRIPTION
FORM

 

To
Be Executed by the Registered Holder in Order to Exercise Warrants

 

The
undersigned registered holder irrevocably elects to exercise Warrants represented by this Warrant Certificate, and to purchase
the Common Shares issuable upon the exercise of such Warrants, and requests that certificates for such shares shall be issued
in the name of

 

	Name	 
	 
	 	(please
    typewrite or print in block letters)	 

 

Address
__________________________________________________

 

Address
_________________________________________________

 

Tax
Identification Number ____________________________________

and
be delivered to    

 

Name
____________________________________________________ 

                               (please
typewrite or print in block letters)

 

Address __________________________________________________

 

Address
 __________________________________________________

 

and,
if such number of Warrants shall not be all the Warrants evidenced by this Warrant Certificate, that a new Warrant Certificate
for the balance of such Warrants be registered in the name of, and delivered to, the registered holder at the address stated below:

 

	Dated:	Signature	 _____________________________	 
	 	 	 	 
	 	Address 	_____________________________	 
	 	 		 
	 	Address 	______________________________	 
	 	 	 	 
	 	Tax Identification Number _________________EX-10.1

 Exhibit 10.1 

Execution Version 

SECOND REFINANCING AMENDMENT 

SECOND REFINANCING AMENDMENT, dated as of May 19, 2017 (this “Amendment”), by and among the Lenders party hereto, MACOM
TECHNOLOGY SOLUTIONS HOLDINGS, INC. (f/k/a M/A-COM Technology Solutions Holdings, Inc.), a Delaware corporation (the “Borrower”), and GOLDMAN SACHS BANK USA (“GS”), as
administrative agent (in such capacity, the “Administrative Agent”) under the Credit Agreement referred to below. 

RECITALS: 

WHEREAS, reference is hereby made to that certain Credit Agreement, dated as of May 8, 2014 (as amended by (i) that certain
Incremental Amendment, dated as of February 13, 2015, (ii) that certain Incremental Term Loan Amendment, dated as of August 31, 2016, (iii) that certain Second Incremental Amendment, dated as of March 10, 2017, (iv) that certain
Amendment No. 4 to Credit Agreement, dated as of March 10, 2017 and (v) that certain Refinancing Amendment, dated as of March 10, 2017, the “Credit Agreement,” and, as amended by this Amendment, the
“Amended Credit Agreement”), among the Borrower, each Lender from time to time party thereto and GS as the Administrative Agent, the Collateral Agent, the Swing Line Lender and an L/C Issuer (capitalized terms used but not defined
herein having the meanings provided in the Credit Agreement); 
 WHEREAS, pursuant to Section 2.15 of the Credit Agreement and subject
to the terms and conditions contained herein, the Borrower has requested that the outstanding Initial Term Loans (as such definition is amended hereby) be refinanced with a new term facility (the “Second Refinancing Term Facility”)
by obtaining Second Refinancing Term Commitments (as defined in Section 4(b) of this Amendment) and having existing Initial Term Loans be continued as provided herein; 

WHEREAS, the loans under the Second Refinancing Term Facility (the “Second Refinancing Term Loans”) will replace and
refinance the currently outstanding Initial Term Loans; 
 WHEREAS, except as otherwise provided herein, the Second Refinancing Term Loans
will have the same terms as the Initial Term Loans currently outstanding under the Credit Agreement; 
 WHEREAS, each existing Term Lender
that executes and delivers a lender addendum in the form attached hereto as Exhibit A (a “Lender Addendum (Cashless Roll)”) agrees to continue all of its outstanding Initial Term Loans as Second Refinancing Term Loans
(such continued Initial Term Loans, collectively, the “Continued Term Loans”, and such Lenders, collectively, the “Continuing Term Lenders”) and in connection therewith will thereby (i) agree to the terms of
this Amendment and (ii) agree to continue all of its existing Initial Term Loans (such existing Initial Term Loans, collectively, the “Existing Term Loans”, and the Lenders of such Existing Term Loans, collectively, the
“Existing Term Lenders”) outstanding on the Second Refinancing Amendment Effective Date (as defined below) as Second Refinancing Term Loans in a principal amount equal to the aggregate principal amount of such Existing Term Loans so
continued (or such lesser amount as notified to such Lender by Morgan Stanley Senior Funding, Inc. in its capacity as lead arranger for the Second Refinancing Term Facility (the “Lead Arranger”) prior to the Second Refinancing
Amendment Effective Date); 
 WHEREAS, each Person (other than a Continuing Term Lender in its capacity as such) that executes and delivers
this Amendment as an Additional Term Lender (as defined below) or a lender addendum in the form attached hereto as Exhibit B (a “Lender Addendum (Additional Term Lender)” and, collectively with each Lender Addendum (Cashless
Roll), the “Lender Addenda” and, each, a “Lender Addendum”)) agrees to make Second Refinancing Term Loans (collectively, the “Additional Term Lenders”) and in connection therewith will thereby
(i) agree to the terms of this Amendment and 

 
(ii) commit to make Second Refinancing Term Loans to the Borrower on the Second Refinancing Amendment Effective Date (the “Additional Term Loans”) in such amount (not in excess
of any such commitment) as is determined by the Lead Arranger and notified to such Additional Term Lender; 
 WHEREAS, the proceeds of the
Additional Term Loans will be used by the Borrower to repay in full the outstanding principal amount of the Existing Term Loans that are not continued as Second Refinancing Term Loans by Continuing Term Lenders; 

WHEREAS, the Continuing Term Lenders and the Additional Term Lenders (collectively, the “Second Refinancing Term
Lenders”) are severally willing to continue their Existing Term Loans as Second Refinancing Term Loans and/or to make Second Refinancing Term Loans, as the case may be, subject to the terms and conditions set forth in this Amendment; 

WHEREAS, Section 2.15(f) of the Credit Agreement provides that Commitments in respect of the Second Refinancing Term Loans shall become
Commitments under the Credit Agreement pursuant to an amendment to the Credit Agreement executed by the Borrower, each Second Refinancing Term Lender and the Administrative Agent, and that such amendment may effect such amendments to the Credit
Agreement and the other Loan Documents as may be necessary or appropriate, in the reasonable opinion of the Administrative Agent and the Borrower, to effect the provisions of Section 2.15 of the Credit Agreement; 

WHEREAS, the Borrower, the Second Refinancing Term Lenders and the Administrative Agent are willing to agree to this Amendment on the terms
set forth herein; and 
 NOW, THEREFORE, in consideration of the premises and agreements, provisions and covenants herein contained, the
parties hereto agree as follows: 
 SECTION 1.    Amendments to Article I of the Credit Agreement. Article
I of the Credit Agreement is hereby amended as follows: 
 (a)    Section 1.01 of the Credit Agreement is hereby amended
by adding the following new definitions in the appropriate alphabetical order: 
 ““Second Refinancing
Amendment” means the Second Refinancing Amendment, dated as of the Second Refinancing Amendment Effective Date. 

“Second Refinancing Amendment Effective Date” means May 19, 2017. 

“Second Refinancing Term Loans” has the meaning assigned to such term in Second Refinancing Amendment.” 

(b)    Section 1.01 of the Credit Agreement is hereby amended by deleting the definitions of “Consolidated First Lien
Debt” and “Total First Lien Leverage Ratio” set forth therein. 
 (c)    Clause (a) of the
definition of “Applicable Rate” is hereby amended and restated in its entirety as follows: 
 “with respect to Initial Term
Loans, (i) 1.25% in the case of Base Rate Loans and (ii) 2.25% in the case of Eurocurrency Rate Loans;” 

  
 2 

 (d)    The proviso to clause (iii) of the first proviso to the
definition of “Incremental Equivalent Debt” is amended by deleting the text “made on the Refinancing Amendment Effective Date” and substituting in lieu thereof the text “made on the Second Refinancing Amendment Effective
Date”. 
 (e)    The definition of “Initial Term Commitment” is hereby amended and restated in its
entirety as follows: 
 ““Initial Term Commitment” means, as to each Term Lender, its obligation: (i) prior to the
Refinancing Amendment Effective Date, to make an Initial Term Loan to the Borrower pursuant to Section 2.01(a) on the Closing Date in an aggregate amount not to exceed the amount set forth opposite such Term Lender’s name in Schedule
2.01 (as in effect on the Closing Date) under the caption “Initial Term Commitment,” as such amount may be adjusted from time to time in accordance with this Agreement, (ii) on the Refinancing Amendment Effective Date, (a) to
continue its Initial Term Loan made on the Closing Date as a Refinancing Term Loan or (b) to make a Refinancing Term Loan in the amount provided for in the Refinancing Amendment, in each case, in an aggregate amount not to exceed the amount set
forth opposite such Term Lender’s name in Schedule 2.01 (as in effect on the Refinancing Amendment Effective Date) under the caption “Initial Term Commitment,” as such amount may be adjusted from time to time in accordance with
this Agreement (including Section 2.14) or (iii) on the Second Refinancing Amendment Effective Date, (a) to continue its Initial Term Loan made on or continued on the Refinancing Amendment Effective Date as a
Second Refinancing Term Loan or (b) to make a Second Refinancing Term Loan in the amount provided for in the Second Refinancing Amendment, in each case, in an aggregate amount not to exceed the amount set forth opposite such Term Lender’s
name in Schedule 2.01 (as in effect on the Second Refinancing Amendment Effective Date) under the caption “Initial Term Commitment,” as such amount may be adjusted from time to time in accordance with this Agreement (including
Section 2.14). The aggregate amount of the Initial Term Commitments on, and after giving effect to, the Second Refinancing Amendment Effective Date is $588,461,733.35.” 

(f)    The definition of “Initial Term Loans” is hereby amended and restated in its entirety as follows: 

““Initial Term Loans” means (i) prior to the Refinancing Amendment Effective Date, the Term Loans made by the
Lenders on the Closing Date to the Borrower pursuant to Section 2.01(a), (ii) from the Refinancing Amendment Effective Date until the Second Refinancing Amendment Effective Date, the Refinancing Term Loans or (iii) on and after the
Second Refinancing Amendment Effective Date, the Second Refinancing Term Loans.” 
 (g)    The last sentence in the
definition of “Lender” is hereby amended and restated in its entirety as follows: 
 “As of the Second Refinancing Amendment
Effective Date, Schedule 2.01 sets forth the name of each Lender.” 

  
 3 

 (h)    The definition of “Maturity Date” is hereby amended and
restated in its entirety as follows: 
 ““Maturity Date” means (i) with respect to the Revolving Credit
Commitments and Swing Line Loans that have not been extended pursuant to Section 2.18, the date that is five (5) years after the Closing Date (the “Original Revolving Credit Maturity Date”), (ii) with respect to the
Initial Term Loans that have not been extended pursuant to Section 2.17, the date that is seven (7) years after the Second Refinancing Amendment Effective Date (the “Original Term Loan Maturity Date”), (iii) with respect
to any Extended Term Loans of a given Term Loan Extension Series, the final maturity date as specified in the applicable Extension Amendment accepted by the respective Lender or Lenders, (iv) with respect to any Extended Revolving Credit
Commitments of a given Revolving Credit Loan Extension Series, the final maturity date as specified in the applicable Extension Amendment accepted by the respective Lender or Lenders, (v) with respect to any Refinancing Term Loans, Refinancing
Revolving Credit Commitments or Refinancing Revolving Credit Loans, the final maturity date as specified in the applicable Refinancing Amendment, (vi) with respect to any New Term Loan, New Revolving Credit Commitments or New Revolving Credit
Loans, the final maturity date as specified in the applicable Incremental Amendment and (vii) with respect to Replacement Term Loans, the final maturity date as specified in the applicable amendment to this Agreement in respect of such
Replacement Term Loans; provided, in each case, that if such day is not a Business Day, the applicable Maturity Date shall be the Business Day immediately preceding such day.” 

(i)    The definition of “Responsible Officer” is hereby amended by replacing the phrase “any document
delivered by a Loan Party on the Closing Date or the Refinancing Amendment Effective Date” where used therein with the phrase “any document delivered by a Loan Party on the Closing Date, the Refinancing Amendment Effective Date or the
Second Refinancing Amendment Effective Date”. 
 (j)    Section 1.08(b) of the Credit Agreement is hereby amended
by deleting the text “the Total First Lien Leverage Ratio,” after the text “the Total Net Leverage Ratio,” in the last sentence thereof. 

(k)    Section 1.08(d) of the Credit Agreement is hereby amended by deleting the text “the Total First Lien Leverage
Ratio,” after the text “the Total Net Leverage Ratio,” in each instance where such text occurs in the first sentence thereof. 

(l)    Section 1.09(b) of the Credit Agreement is hereby amended by deleting the text “the Total First Lien Leverage
Ratio,” after the text “the Total Net Leverage Ratio,”. 
 SECTION 2.    Amendments to Articles
II, III and X of the Credit Agreement. 
 (a)    Section 2.01(a) of the Credit Agreement is hereby amended and
restated in its entirety as follows: 
 “Subject to the terms and conditions set forth herein, each Term Lender with an Initial Term
Commitment severally agrees to make to the Borrower a single loan denominated in Dollars equal to such Lender’s Initial Term Commitment on the Closing Date. Following the making of the Refinancing Term Loans or the continuation of Initial Term
Loans as Refinancing Term Loans, as applicable, on the Refinancing Amendment Effective Date, the Refinancing Term Loans shall constitute Initial Term Loans and Term Loans, as applicable, in all respects. Following the making of the Second
Refinancing Term Loans or the continuation of Initial Term Loans as Second Refinancing Term 

  
 4 

 
Loans, as applicable, on the Second Refinancing Amendment Effective Date, the Second Refinancing Term Loans shall constitute Initial Term Loans and Term Loans, as applicable, in all
respects.” 
 (b)    Section 2.06(b) of the Credit Agreement is hereby amended and restated in its entirety as
follows: 
 “Mandatory. The Initial Term Commitment of each Term Lender was automatically and permanently reduced to $0 upon the
making of such Term Lender’s Initial Term Loans made by it on the Closing Date, pursuant to Section 2.01. The Initial Term Commitment of each Term Lender was automatically and permanently reduced to $0 upon the making
of Refinancing Term Loans or the continuation of Initial Term Loans as Refinancing Term Loans, as applicable, on the Refinancing Amendment Effective Date. The Initial Term Commitment of each Term Lender shall be automatically and permanently reduced
to $0 upon the making of Second Refinancing Term Loans or the continuation of Initial Term Loans as Second Refinancing Term Loans, as applicable, on the Second Refinancing Amendment Effective Date. The Revolving Credit Commitments shall terminate on
the applicable Maturity Date for each such Facility.” 
 (c)    Clause (i) of Section 2.07(a), prior to the
proviso thereto, of the Credit Agreement is hereby amended and restated in its entirety as follows: 
 “on the last Business Day of each
March, June, September and December, commencing with the first full fiscal quarter after the Second Refinancing Amendment Effective Date, an aggregate Dollar Amount equal to 0.25% of the aggregate principal Dollar Amount of all Initial Term Loans
outstanding on the Second Refinancing Amendment Effective Date after giving effect to the Second Refinancing Amendment (as such repayment shall be reduced as a result of the application of prepayments in accordance with the order of priority
determined under Section 2.05)”. 
 (d)    Section 2.14(b)(i)(x) of the Credit Agreement
is hereby amended by deleting the text “made on the Refinancing Amendment Effective Date” and substituting in lieu thereof the text “made on the Second Refinancing Amendment Effective Date”. 

(e)    Section 2.14(b)(v) of the Credit Agreement is hereby amended by deleting the text “made on the Refinancing
Amendment Effective Date” and substituting in lieu thereof the text “made on the Second Refinancing Amendment Effective Date”. 

(f)    Section 2.15(e)(i) of the Credit Agreement is hereby amended by deleting the text “made on the Refinancing
Amendment Effective Date” and substituting in lieu thereof the text “made on the Second Refinancing Amendment Effective Date”. 

(g)    Section 2.23 of the Credit Agreement is hereby amended by deleting the text “the six month anniversary of the
Refinancing Amendment Effective Date” and substituting in lieu thereof the text “the six month anniversary of the Second Refinancing Amendment Effective Date”. 

(h)    The penultimate paragraph of Section 3.07 of the Credit Agreement is hereby amended by deleting the text
“the six month anniversary of the Refinancing Amendment Effective Date” and substituting in lieu thereof the text “the six month anniversary of the Second Refinancing Amendment Effective Date”. 

  
 5 

 (i)    Section 10.01(c) of the Credit Agreement is hereby amended by deleting
the text “, the Total First Lien Leverage Ratio” after the text “the Total Net Leverage Ratio”. 
 SECTION
3.    Amendments to the Schedules and Exhibits to the Credit Agreement. 
 (a)    Schedule
2.01 to the Credit Agreement is hereby amended by deleting the second table contained therein and substituting in lieu thereof the table set forth on Exhibit C attached hereto. 

(b)    Exhibit C to the Credit Agreement is hereby replaced with the revised Exhibit C to the Credit Agreement attached
hereto as Exhibit D. 
 SECTION 4.    Second Refinancing Term Loans. 

(a)    Subject to the terms and conditions set forth herein (i) each Continuing Term Lender agrees to continue all (or
such lesser amount as notified to such Lender by the Lead Arranger prior to the Second Refinancing Amendment Effective Date) of its Existing Term Loans as a Second Refinancing Term Loan on the Second Refinancing Amendment Effective Date in a
principal amount equal to such Continuing Term Lender’s Second Refinancing Term Commitment (as defined below); and (ii) each Additional Term Lender agrees to make a Second Refinancing Term Loan on such date to the Borrower in a principal
amount equal to such Additional Term Lender’s Second Refinancing Term Commitment. For purposes hereof, a Person shall become a party to the Amended Credit Agreement and a Second Refinancing Term Lender as of the Second Refinancing Amendment
Effective Date by executing and delivering to the Administrative Agent, on or prior to the Second Refinancing Amendment Effective Date, a Lender Addendum (Additional Term Lender) in its capacity as a Second Refinancing Term Lender. For the avoidance
of doubt, the Existing Term Loans of a Continuing Term Lender must be continued in whole and may not be continued in part unless approved by the Lead Arranger. 

(b)     Each Additional Term Lender will make its Second Refinancing Term Loan on the Second Refinancing Amendment
Effective Date by making available to the Administrative Agent, in the manner contemplated by Section 2.02 of the Credit Agreement, an amount equal to its Second Refinancing Term Commitment. The “Second Refinancing Term
Commitment” (i) of any Continuing Term Lender will be the amount of its Existing Term Loans as set forth in the Register as of the Second Refinancing Amendment Effective Date (or such lesser amount as notified to such Lender by the Lead
Arranger prior to the Second Refinancing Amendment Effective Date), which shall be continued as an equal amount of Second Refinancing Term Loans, and (ii) of any Additional Term Lender will be such amount (not exceeding any commitment offered
by such Additional Term Lender) allocated to it by the Lead Arranger and notified to it on or prior to the Second Refinancing Amendment Effective Date. The commitments of the Additional Term Lenders and the continuation undertakings of the
Continuing Term Lenders are several, and no such Lender will be responsible for any other such Lender’s failure to make or acquire by continuation its Second Refinancing Term Loan. The Lenders having Existing Term Loans that are prepaid in
connection with the making of the Second Refinancing Term Loans shall be entitled to the benefits of Section 3.05 of the Credit Agreement with respect thereto. The Continuing Term Lenders hereby waive the benefits of Section 3.05 of the
Credit Agreement with respect thereto. 
 (c)    The terms of the Second Refinancing Term Loans shall be identical to
the terms of the Existing Term Loans for all purposes under the Amended Credit Agreement and the other Loan Documents (other than with respect to upfront fees, original issue discount and arrangement, structuring or similar fees payable in
connection therewith or as otherwise set forth herein) and the Second Refinancing Term Loans shall be subject to the provisions of the Credit Agreement and the other Loan Documents on the same basis as the Existing Term Loans. The maturity date of
the Second Refinancing Term Loans shall be the date that is seven (7) years after the Second Refinancing Amendment Effective 

  
 6 

 
Date. From and after the Second Refinancing Amendment Effective Date, each reference to an “Initial Term Loan” or “Initial Term Loans” in the Amended Credit Agreement shall be
deemed a reference to the Second Refinancing Term Loans, each reference to a “Term Lender” in the Amended Credit Agreement shall be deemed a reference to a Second Refinancing Term Lender, and related terms will have correlative meanings
mutatis mutandis (in each case, unless the context otherwise requires). 
 (d)    Notwithstanding the foregoing
(but except as set forth in Section 4(b) above), the provisions of the Credit Agreement with respect to indemnification, reimbursement of costs and expenses, increased costs and break funding payments shall continue in full force and effect with
respect to, and for the benefit of, each Existing Term Lender in respect of such Lender’s Existing Term Loans to the same extent expressly set forth therein. 

(e)    The continuation of Continued Term Loans may be implemented pursuant to other procedures specified by the
Administrative Agent or the Lead Arranger, including by repayment of Continued Term Loans of a Continuing Term Lender followed by a subsequent assignment to it of Second Refinancing Term Loans in the same amount. 

(f)    For the avoidance of doubt, the Lenders hereby acknowledge and agree that, at the sole option of the Administrative
Agent, any Lender with Existing Term Loans that are prepaid as contemplated hereby shall, automatically upon receipt of the amount necessary to purchase such Lender’s Existing Term Loans so replaced, at par, and pay all accrued interest
thereon, be deemed to have assigned such Loans pursuant to a form of Assignment and Assumption and, accordingly, no other action by the Lenders, the Administrative Agent, the Lead Arranger or the Loan Parties shall be required in connection
therewith. The Lenders hereby agree to waive the notice requirements of Sections 2.05(a)(i) of the Credit Agreement in connection with the prepayment or replacement of Existing Term Loans contemplated hereby. 

SECTION 5.    Conditions to Effectiveness. This Amendment and the obligations of each Second Refinancing
Term Lender hereunder shall become effective on the date hereof (such date, the “Second Refinancing Amendment Effective Date”) upon satisfaction (or, with respect to Sections 5(a)(ii), (iv) and (v) only, waiver by the
Administrative Agent) of each of the following conditions: 
 (a)    The Administrative Agent shall have received the
following, each of which shall be originals, facsimiles or copies in .pdf form by electronic mail (followed promptly by originals): 

(i)    the Borrower’s counterpart signature page to this Amendment; 

(ii)    each Guarantor’s counterpart signature page to the acknowledgment attached to this Amendment;

 (iii)    executed Lender Addenda by the Continuing Lenders and the Additional Term Lenders; 

(iv)    a customary opinion from Ropes & Gray LLP, counsel to the Loan Parties; 

(v)    such certificates of good standing or status (to the extent that such concepts exist) from the
applicable secretary of state (or equivalent authority) of the jurisdiction of organization of each Loan Party, a certificate of customary resolutions or other customary action of each Loan Party, a customary certificate of a Responsible Officer of
each Loan Party and an incumbency certificate of each Loan Party evidencing the identity, authority and capacity 

  
 7 

 
of each Responsible Officer thereof authorized to act as a Responsible Officer in connection with this Amendment and the other Loan Documents to which such Loan Party is a party or is to be a
party on the Second Refinancing Amendment Effective Date; 
 (vi)    copies of recent Uniform Commercial
Code, tax and intellectual property Lien searches and copies of judgment searches, in each case, in each jurisdiction reasonably requested by the Administrative Agent in respect of the Loan Parties; and 

(vii)    a certificate, from the chief financial officer of the Borrower, attesting to the Solvency of the
Borrower and its Restricted Subsidiaries, on a consolidated basis, on the Second Refinancing Amendment Effective Date after giving effect to the incurrence of the Second Refinancing Term Loans. 

(b)    Immediately before and immediately after giving effect to this Amendment, no Event of Default shall exist. 

(c)    Immediately before and immediately after giving effect to this Amendment, the representations and warranties of the
Borrower and each other Loan Party contained in Article V of the Credit Agreement or in any other Loan Document shall be true and correct in all material respects; provided that, to the extent that such representations and warranties
specifically refer to an earlier date, they shall be true and correct in all material respects as of such earlier date; provided, further, that, any representation or warranty that is qualified as to “materiality,”
“Material Adverse Effect” or similar language shall be true and correct in all respects. 
 (d)    The
Borrower shall pay a closing fee to each Second Refinancing Term Lender on the Second Refinancing Amendment Effective Date as fee compensation for such Second Refinancing Term Lender’s Second Refinancing Term Commitment in an amount equal to
0.50% of the aggregate principal amount of the Second Refinancing Term Loans made or continued by such Second Refinancing Term Lender on the Second Refinancing Amendment Effective Date, payable in full on, and subject to the occurrence of, the
Second Refinancing Amendment Effective Date. 
 (e)    The Borrower shall pay to the Administrative Agent, for the
account of the Existing Term Lenders, a premium equal to 1.00% of the outstanding principal amount of the Existing Term Loans repaid or continued on the Second Refinancing Amendment Effective Date (the “Soft-Call Premium”). The
Soft-Call Premium shall be payable in full on, and subject to the occurrence of, the Second Refinancing Amendment Effective Date and the payment thereof shall satisfy the Borrower’s obligations under Section 2.23 of the Credit Agreement
with respect to the refinancing of the Existing Term Loans. 
 (f)    The Administrative Agent shall have received
payment of all expenses required to be paid or reimbursed by any Loan Party under or in connection with this Amendment, including those expenses set forth in Section 12 hereof, in each case, to the extent invoiced in reasonable detail prior to
the date hereof. 
 (g)    The Administrative Agent and the Second Refinancing Term Lenders shall have received at least
five (5) days prior to the Second Refinancing Amendment Effective Date all documentation and other information about the Borrower and each Guarantor reasonably requested in writing by them at least ten (10) days prior to the Second
Refinancing Amendment Effective Date in order to comply with applicable “know your customer” and anti-money laundering rules and regulations, including the PATRIOT Act. 

  
 8 

 (h)    The Administrative Agent shall have received a certificate, dated the
Second Refinancing Amendment Effective Date and signed by a Responsible Officer of the Borrower, confirming satisfaction of the conditions set forth in Sections 5(b) and 5(c) of this Amendment. 

Other than the conditions set forth in this Section 5 and in Section 2.15(d) of the Credit Agreement, there are no other conditions
(express or implied) to the Second Refinancing Amendment Effective Date. For purposes of determining compliance with the conditions specified in this Section 5 and in Section 2.15(d) of the Credit Agreement, each Second Refinancing Term Lender
shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required hereunder or thereunder to be consented to or approved by or acceptable or satisfactory to a Second Refinancing Term Lender
under this Amendment unless the Administrative Agent shall have received notice from such Second Refinancing Term Lender prior to the Second Refinancing Amendment Effective Date specifying its objection thereto. 

Notwithstanding any other provisions of this Amendment to the contrary, the Administrative Agent may appoint a fronting lender to act as the
sole Additional Term Lender for purposes of facilitating funding on the Second Refinancing Amendment Effective Date. Accordingly, any Lender Addendum (Additional Term Lender) submitted by or on behalf of an Additional Term Lender other than such
fronting lender will be deemed ineffective unless accepted by the Administrative Agent in its sole discretion. 
 SECTION
6.    Representations and Warranties. Each of the Loan Parties represents and warrants to the Administrative Agent and the Second Refinancing Term Lenders that this Amendment has been duly authorized, executed and
delivered by it and constitutes its legal, valid and binding obligation, enforceable against such Loan Party in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting
creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law. 

SECTION 7.    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 transmission or
other electronic imaging means (including in .pdf format) shall be effective as delivery of a manually executed counterpart of this Amendment. 

SECTION 8.    Governing Law and Waiver of Right to Trial by Jury. THIS AMENDMENT SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. The jurisdiction and waiver of right to trial by jury provisions in Sections 10.15 and 10.16 of the Credit Agreement are incorporated herein by reference mutatis mutandis. 

SECTION 9.    Headings. The headings of this Amendment are for purposes of reference only and shall not
limit or otherwise affect the meaning hereof. 
 SECTION 10.    Reaffirmations. (a) The Borrower
hereby expressly acknowledges the terms of this Amendment and acknowledges that the Second Refinancing Term Loans constitute Obligations under the Amended Credit Agreement, and reaffirms, as of the date hereof, (i) the covenants and agreements
contained in each Loan Document to which it is a party, as in effect immediately after giving effect to this Amendment and the transactions contemplated hereby, and (ii) its grant of Liens on the Collateral to secure the Obligations pursuant to
the Collateral Documents to which it is a party. 

  
 9 

 (b)    Each Guarantor, by signing the acknowledgment attached to this
Amendment, in its capacity as a Guarantor under the Guaranty to which it is a party, acknowledges and agrees that the Second Refinancing Term Loans constitute Obligations under the Amended Credit Agreement and that the guarantee contained in the
Guaranty is, and shall remain, in full force and effect immediately after giving effect to this Amendment and reaffirms, as of the date hereof, (i) the covenants and agreements contained in each Loan Document to which it is a party, as in
effect immediately after giving effect to this Amendment and the transactions contemplated hereby, and (ii) its grant of Liens on the Collateral to secure the Obligations pursuant to the Collateral Documents to which it is a party. 

SECTION 11.    Effect of Amendment; References to the Credit Agreement; Miscellaneous. Except as expressly
set forth herein, this Amendment (a) shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the rights and remedies of the Lenders or the Agents under the Credit Agreement or any other Loan Document, and
(b) shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other provision of the Credit Agreement or any other Loan Document, all of which
are ratified and affirmed in all respects and shall continue in full force and effect as amended by this Amendment (as applicable). All references to the Credit Agreement in any document, instrument, agreement, or writing shall from and after the
Second Refinancing Amendment Effective Date be deemed to refer to the Amended Credit Agreement, and, as used in the Amended Credit Agreement, the terms “Agreement,” “herein,” “hereafter,” “hereunder,”
“hereto” and words of similar import shall mean, from and after the Second Refinancing Amendment Effective Date, the Amended Credit Agreement. 

SECTION 12.    Expenses. The Borrower agrees to reimburse the Administrative Agent for its reasonable out-of-pocket expenses in connection with this Amendment to the extent required under Section 10.04 of the Amended Credit Agreement. 

[Signature Pages Follow] 

  
 10 

 IN WITNESS WHEREOF, each of the undersigned has caused its duly authorized officer to
execute and deliver this Amendment as of the date first written above. 
  

					
	MACOM TECHNOLOGY SOLUTIONS HOLDINGS, INC.
		
	By:	 	 /s/ Robert McMullan

		 	Name:	 	Robert McMullan
		 	Title:	 	Senior Vice President and Chief
		 		 	Financial Officer

  
 [Second Refinancing
Amendment] 

 
			
	 GOLDMAN SACHS BANK USA,
 as
Administrative Agent

		
	By:	 	 /s/ Gabriel Jacobson

	Name:	 	Gabriel Jacobson
	Title:	 	Authorized Signatory

  
 [Second Refinancing
Amendment] 

 
			
	MORGAN STANLEY SENIOR FUNDING, INC.,
	as Lead Arranger and an Additional Term Lender
		
	By:	 	 /s/ Andrew Earls

	Name:	 	Andrew Earls
	Title:	 	Authorized Signatory

  
 [Second Refinancing
Amendment] 

 LENDER SIGNATURE PAGES ON FILE WITH SKADDEN, ARPS, SLATE, MEAGHER & FLOM LLP 

  
 [Second Refinancing
Amendment] 

 
					
	Acknowledged and agreed with respect to Section 10(b) of the Amendment to which this acknowledgment is attached by:
	
	MACOM TECHNOLOGY SOLUTIONS INC.
		
	By:	 	 /s/ Robert McMullan

		 	Name:	 	Robert McMullan
		 	Title:	 	Chief Financial Officer and
		 		 	Senior Vice President
	
	MINDSPEED TECHNOLOGIES, LLC
		
	By:	 	 /s/ Robert McMullan

		 	Name:	 	Robert McMullan
		 	Title:	 	Chief Financial Officer
	
	NITRONEX, LLC
		
	By:	 	 /s/ Robert McMullan

		 	Name:	 	Robert McMullan
		 	Title:	 	Chief Financial Officer

  
 [Second Refinancing
Amendment] 

 
					
	BINOPTICS, LLC
		
	By:	 	 /s/ Robert McMullan

		 	Name:	 	Robert McMullan
		 	Title:	 	Chief Financial Officer
	
	MACOM METELICS, LLC
		
	By:	 	 /s/ Robert McMullan

		 	Name:	 	Robert McMullan
		 	Title:	 	Chief Financial Officer
	
	MACOM CONNECTIVITY SOLUTIONS, LLC
		
	By:	 	 /s/ Robert McMullan

		 	Name:	 	Robert McMullan
		 	Title:	 	Chief Financial Officer and Treasurer
	
	AMCC SALES CORPORATION
		
	By:	 	 /s/ Robert McMullan

		 	Name:	 	Robert McMullan
		 	Title:	 	Chief Financial Officer and Treasurer
	
	AMCC ENTERPRISE CORPORATION
		
	By:	 	 /s/ Robert McMullan

		 	Name:	 	Robert McMullan
		 	Title:	 	Chief Financial Officer

  
 [Second Refinancing
Amendment] 

 
					
	AMCC CHINA, INC.
		
	By:	 	 /s/ Robert McMullan

		 	Name:	 	Robert McMullan
		 	Title:	 	Chief Financial Officer and Treasurer
	
	VELOCE TECHNOLOGIES, LLC
	
	By: MACOM Connectivity Solutions, LLC, its sole member
		
	By:	 	 /s/ Robert McMullan

		 	Name:	 	Robert McMullan
		 	Title:	 	Chief Financial Officer and Treasurer

  
 [Second Refinancing
Amendment] 

 Exhibit A 

LENDER ADDENDUM (CASHLESS ROLL) TO THE 

SECOND REFINANCING AMENDMENT OF THE 

CREDIT AGREEMENT 
 DATED AS OF
MAY 8, 2014 
 This Lender Addendum (Cashless Roll) (this “Lender Addendum”) is referred to in, and is a signature
page to, the Second Refinancing Amendment (the “Amendment”), by and among the Continuing Term Lenders (as defined therein), the Additional Term Lenders (as defined therein), MACOM Technology Solutions Holdings, Inc. (f/k/a M/A-COM Technology Solutions Holdings, Inc.), a Delaware corporation (the “Borrower”), and Goldman Sachs Bank USA (“GS”), as administrative agent (in such capacity, the
“Administrative Agent”) under the Credit Agreement (as defined below), to that certain Credit Agreement, dated as of May 8, 2014 (as amended by (i) that certain Incremental Amendment, dated as of February 12, 2015,
(ii) that certain Incremental Term Loan Amendment, dated as of August 31, 2016, (iii) that certain Second Incremental Amendment, dated as of March 10, 2017, (iv) that certain Amendment No. 4 to Credit Agreement, dated as of
March 10, 2017 and (v) that certain Refinancing Amendment, dated as of March 10, 2017, the “Credit Agreement”, and, as amended by the Amendment, the “Amended Credit Agreement”), among the Borrower,
each Lender from time to time party thereto and GS as the Administrative Agent, the Collateral Agent, the Swing Line Lender and an L/C Issuer. 

By executing this Lender Addendum as a Continuing Term Lender, the undersigned institution agrees (A) to the terms of the Amendment and
the Amended Credit Agreement and (B) on the terms and subject to the conditions set forth in the Amendment and the Amended Credit Agreement, to continue its Existing Term Loans as Second Refinancing Term Loans pursuant to a cashless roll on the
Second Refinancing Amendment Effective Date in the amount of its Second Refinancing Term Commitment. 
  

			
	Name of Institution:	 	
 
  

  

					
	Executing as a Continuing Term Lender:
	 		 
	 	 	By:	 	  

	 	 		 	Name:
	 	 		 	Title:
	 
	For any institution requiring a second signature line:
	 		 
	 	 	By:	 	  

	 	 		 	Name:
	 	 	 	 	Title:

  
 [Second Refinancing
Amendment – Lender Addendum (Cashless Roll)] 

 Exhibit B 

LENDER ADDENDUM (ADDITIONAL TERM LENDER) TO THE 

SECOND REFINANCING AMENDMENT OF THE 

CREDIT AGREEMENT 
 DATED AS OF
MAY 8, 2014 
 This Lender Addendum (Additional Term Lender) (this “Lender Addendum”) is referred to in, and is a
signature page to, the Second Refinancing Amendment (the “Amendment”), by and among the Continuing Term Lenders (as defined therein), the Additional Term Lenders (as defined therein), MACOM Technology Solutions Holdings, Inc. (f/k/a
M/A-COM Technology Solutions Holdings, Inc.), a Delaware corporation (the “Borrower”), and Goldman Sachs Bank USA (“GS”), as administrative agent (in such capacity, the
“Administrative Agent”) under the Credit Agreement (as defined below), to that certain Credit Agreement, dated as of May 8, 2014 (as amended by (i) that certain Incremental Amendment, dated as of February 12, 2015
(ii) that certain Incremental Term Loan Amendment, dated as of August 31, 2016, (iii) that certain Second Incremental Amendment, dated as of March 10, 2017, (iv) that certain Amendment No. 4 to Credit Agreement, dated as of
March 10, 2017 and (v) that certain Refinancing Amendment, dated as of March 10, 2017, the “Credit Agreement”, and, as amended by the Amendment, the “Amended Credit Agreement”), among the Borrower,
each Lender from time to time party thereto and GS as the Administrative Agent, the Collateral Agent, the Swing Line Lender and an L/C Issuer. 

By executing this Lender Addendum as an Additional Term Lender, the undersigned institution agrees (A) to the terms of the Amendment and
the Amended Credit Agreement, (B) on the terms and subject to the conditions set forth in the Amendment and the Amended Credit Agreement (i) to have 100% of such Additional Term Lender’s Existing Term Loans prepaid on the Second
Refinancing Amendment Effective Date and (ii) to purchase Second Refinancing Term Loans by assignment from Second Refinancing Term Lenders identified by the Lead Arranger, on or after the Second Refinancing Amendment Effective Date, in the
amount of such Additional Term Lender’s Second Refinancing Term Commitment and (C) that on the Second Refinancing Amendment Effective Date it is subject to, and bound by, the terms and conditions of the Amended Credit Agreement and other
Loan Documents as a Lender thereunder. 
  

			
	Name of Institution:	 	
 
  

  

					
	Executing as an Additional Term Lender:
	 		 
	 	 	By:	 	  

	 	 		 	Name:
	 	 		 	Title:
	 
	For any institution requiring a second signature line:
	 		 
	 	 	By:	 	  

	 	 		 	Name:
	 	 	 	 	Title:

  
 [Second Refinancing
Amendment – Lender Addendum (Additional Term Lender)] 

 Exhibit C 

SCHEDULE 2.01 TO THE CREDIT AGREEMENT 

[Attached.] 

 Schedule 2.01 
  

					
	 Lender
	  	Initial Term Commitment	 
	 Voya
	  	$	65,710,409.88	 
	 Eaton Vance
	  	$	60,859,645.85	 
	 Ares
	  	$	4,643,222.74	 
	 Franklin
	  	$	46,715,131.86	 
	 Invesco
	  	$	61,391,693.34	 
	 Loomis Sayles
	  	$	24,521,738.10	 
	 Barings
	  	$	11,101,019.40	 
	 CVC
	  	$	19,884,568.30	 
	 Guggenheim
	  	$	19,846,938.69	 
	 GSO / Blackstone
	  	$	35,015,391.05	 
	 Octagon
	  	$	5,288,914.51	 
	 GS
	  	$	16,856,790.68	 
	 THL
	  	$	22,468,914.48	 
	 LCM
	  	$	13,549,648.96	 
	 CSAM
	  	$	28,159,516.25	 
	 Raymond James
	  	$	17,741,734.70	 
	 H/2 Capital Partners
	  	$	11,150,523.91	 
	 American Money
	  	$	11,982,912.36	 
	 Citibank
	  	$	9,539,252.98	 
	 Newmark
	  	$	9,488,177.57	 
	 Newstar
	  	$	7,819,693.87	 
	 Tall Tree
	  	$	8,368,100.44	 
	 Citizens Bank
	  	$	7,087,177.46	 

					
	 Pioneer
	  	$	6,874,389.65	 
	 BNP
	  	$	6,022,187.96	 
	 Goldentree
	  	$	4,961,734.69	 
	 MJX
	  	$	7,185,810.26	 
	 JMP Credit
	  	$	2,423,610.05	 
	 H.I.G. Whitehorse
	  	$	3,083,928.57	 
	 Sound Harbor
	  	$	1,945,000.00	 
	 PPM America
	  	$	1,590,299.57	 
	 Five Arrows
	  	$	1,783,954.08	 
	 Macquarie
	  	$	496,173.46	 
	 Sankaty Advisors
	  	$	25,000,000.00	 
	 Oppenheimer Funds
	  	$	25,000,000.00	 
	 Prudential Investment Mgmt
	  	$	15,000,000.00	 
	 Angelo Gordon and Co.
	  	$	15,000,000.00	 
	 Golub Capital
	  	$	5,000,000.00	 
	 Silvermine Capital Management
	  	$	3,000,000.00	 
	 Mid Ocean Partners
	  	$	5,000,000.00	 
	 CBAM Business Services, LLC
	  	$	6,000,000.00	 
	 Triumph Savings Bank, SSB
	  	$	5,000,000.00	 
	 CKC Credit Opportunity Fund LP
	  	$	1,000,000.00	 
	 Marble Point Credit Mangement/LLC
	  	$	3,000,000.00	 
	 Commerz Markets LLC
	  	$	2,000,000.00	 
	 Steele Creek CLO 2014-1, Ltd.
	  	$	3,000,000.00	 
	 Assurant Inc.
	  	$	3,000,000.00	 
	 Harch Capital Management Inc
	  	$	1,403,527.68	 
	 Princeton Advisory Group
	  	$	1,000,000.00	 
		  	  
	  
	 
	 TOTAL
	  	$	688,461,733.35	 
		  	  
	  
	 

 Exhibit D 

EXHIBIT C TO THE CREDIT AGREEMENT 

[Attached.] 

 EXHIBIT C 

to the Credit Agreement 

FORM OF COMPLIANCE CERTIFICATE 

[            ], 20     

Reference is made to that certain Credit Agreement, dated as of May 8, 2014 (as amended, extended, supplemented, amended and restated or
otherwise modified from time to time, the “Credit Agreement”), by and among, MACOM Technology Solutions Holdings, Inc. (f/k/a M/A-COM Technology Solutions Holdings, Inc.), as the Borrower,
Goldman Sachs Bank USA, as Administrative Agent, Collateral Agent, Swing Line Lender and an L/C Issuer, each lender from time to time party thereto and the other agents and parties party thereto. Capitalized terms used herein have the meanings
attributed thereto in the Credit Agreement unless otherwise defined herein. Pursuant to Section 6.02(a) of the Credit Agreement, the undersigned, solely in his/her capacity as a
[                    ]1 of the Borrower, certifies as follows: 

1.    [Attached hereto as Exhibit A is a consolidated balance sheet of the Borrower and its Subsidiaries for the
fiscal year ended [            ], 20 [    ], and the related consolidated statements of income or operations, stockholders’ equity and cash flows for
such fiscal year, together with related notes thereto, setting forth in each case in comparative form the figures for the previous fiscal year, all in reasonable detail and prepared in accordance with GAAP, audited and accompanied by an opinion of
Deloitte & Touche LLP or any other independent registered public accounting firm of nationally recognized standing, which opinion has been prepared in accordance with generally accepted auditing standards and is not subject to any
“going concern” or like qualification or exception or any qualification or exception as to the scope of such audit (other than as may be required as a result of (x) a prospective default or event of default with respect to any
financial covenant (including the financial covenant set forth in Section 7.11 of the Credit Agreement), (y) in the case of Term Lenders, an actual Default with respect to the financial covenant set forth in Section 7.11 of the Credit
Agreement or (z) the impending maturity of the Loans). Also attached hereto as Exhibit A is an internally prepared management summary of pro forma adjustments necessary to eliminate the accounts of Unrestricted Subsidiaries (if any) from
such consolidated financial statements.]2,3 [Attached 

 

	1 	To be a Responsible Officer of the Borrower. 

	2 	To be included if accompanying annual financial statements only. 

	3 	 To the extent the financial information attached as Exhibit A relates to a Permitted Parent, such information
shall be accompanied by an internally prepared management summary of consolidating information that explains in reasonable detail the differences between the information relating to such parent and its Subsidiaries on a consolidated basis, on the
one hand, and the information relating to the Borrower and the Subsidiaries on a consolidated basis, on the other hand. 

  
 C-1 

 
hereto as Exhibit A is a consolidated balance sheet of the Borrower and its Subsidiaries as at the end of the fiscal quarter ended
[                    ], and the related (i) consolidated statements of income or operations for such fiscal quarter and for the portion
of the fiscal year then ended and (ii) consolidated statements of cash flows for the portion of the fiscal year then ended, setting forth in each case in comparative form the figures for the corresponding fiscal quarter of the previous fiscal
year (in the case of consolidated statements of income or operations) and the corresponding portion of the previous fiscal year, all in reasonable detail (collectively, the “Financial Statements”). Such Financial Statements fairly present
in all material respects the financial position, results of operations and cash flows of the Borrower and its Subsidiaries in accordance with GAAP, subject only to normal year-end adjustments and the absence
of footnotes. Also attached hereto as Exhibit A is an internally prepared management summary of pro forma adjustments necessary to eliminate the accounts of Unrestricted Subsidiaries (if any) from such consolidated financial statements.]4,5 

2.    [To my knowledge, except as otherwise disclosed to the Administrative Agent pursuant to the Credit Agreement, no
Default has occurred and is continuing.] [If unable to provide the foregoing certification, attach an Annex A specifying the details of the Default that has occurred and is continuing and any action taken or proposed to be taken with respect
thereto.] 
 3.    [Attached hereto as Schedule 1 are reasonably detailed calculations setting forth Excess Cash
Flow for the most recently ended fiscal year, which calculations are true and accurate on and as of the date of this Certificate.]6 

4.    [Attached hereto as Schedule 2 are reasonably detailed calculations, which calculations are true and accurate
on and as of the date of this Certificate, of the Net Cash Proceeds received during the fiscal year ended [September] [October] [            ], 20[    ] by or on
behalf of the Borrower or any of its Restricted Subsidiaries in respect of any Disposition subject to prepayment pursuant to Section 2.05(b)(ii)(A) of the Credit Agreement and the portion of such Net Cash Proceeds that has been invested or is
intended to be reinvested in accordance with Section 2.05(b)(ii)(B) of the Credit Agreement.]7 

5.    Attached hereto as Schedule 3 are reasonably detailed calculations setting forth the Total Net Leverage Ratio
for the most recent Test Period, which calculations are true and accurate on and as of the date of this Certificate, to be used to determine the Applicable Rate and compliance with the covenant set forth in Section 7.11 of the Credit Agreement.

  
  

	4 	To be included if accompanying quarterly financial statements only. 

	5 	To the extent the financial information attached as Exhibit A relates to a parent of the Borrower, such information shall be accompanied by an internally prepared management summary of consolidating information that
explains in reasonable detail the differences between the information relating to such parent and its Subsidiaries on a consolidated basis, on the one hand, and the information relating to the Borrower and the Subsidiaries on a consolidated basis,
on the other hand. 

	6 	To be included only in annual Compliance Certificate beginning with the annual compliance certificate for fiscal year ending October 2, 2015. 

	7 	To be included only in annual Compliance Certificate. 

  
 C-2 

 6.    [Attached hereto as Schedule 4 is an update of the information
required pursuant to Section 3.03(c) of the Security Agreement][There has been no change in respect of the information required pursuant to Section 3.03(c) of the Security Agreement since [the Closing Date][the date of the last annual Compliance
Certificate.]]8 
 7.    [Attached hereto as Annex B is a
list of each Subsidiary of the Borrower that identifies each Subsidiary as a Restricted Subsidiary or an Unrestricted Subsidiary and/or an Immaterial Subsidiary] [There has been no change to the list of Subsidiaries of the Borrower or to any such
Subsidiary’s designation as a Restricted Subsidiary, Unrestricted Subsidiary and/or Immaterial Subsidiary since [the Closing Date][the date of the last annual Compliance Certificate.]]]9 

[REMAINDER OF THE PAGE INTENTIONALLY LEFT BLANK] 
  

 

	8 	To be included only in annual Compliance Certificate. 

	9 	To be included only in annual Compliance Certificate. 

  
 C-3 

 IN WITNESS WHEREOF, the undersigned, solely in his/her capacity as a
[                    ] of the Borrower, and not in his or her personal or individual capacity and without personal liability, has executed
this certificate for and on behalf of the Borrower, and has caused this certificate to be delivered as of the date first set forth above. 
  

			
	MACOM TECHNOLOGY SOLUTIONS HOLDINGS, INC.
		
	By:	 	  

		 	Name:
		 	Title:

  
 C-4 

 SCHEDULE 1 

TO COMPLIANCE CERTIFICATE 
 Excess Cash Flow

  

							
	(a)	    	the sum, without duplication, of:
				
		    	(i)	  	Consolidated Net Income of the Borrower for such period	    	
				
		    	(ii)	  	an amount equal to the amount of all non-cash charges (including depreciation and amortization) to the extent deducted in arriving at such Consolidated Net Income, but excluding any such non-cash charges representing an accrual or reserve for potential cash items in any future period and excluding amortization of a prepaid cash item that was paid in a prior period	    	$            
				
		    	(iii)	  	decreases in Consolidated Working Capital for such period (other than any such decreases arising from acquisitions or Dispositions by the Borrower and the Restricted Subsidiaries completed during such period or the application of
purchase accounting)	    	$            
				
		    	(iv)	  	an amount equal to the aggregate net non-cash loss on Dispositions by the Borrower and the Restricted Subsidiaries during such period (other than Dispositions in the ordinary course of
business) to the extent deducted in arriving at such Consolidated Net Income	    	$            
				
		    	(v)	  	the amount deducted as tax expense in determining Consolidated Net Income to the extent in excess of cash taxes paid or payable in respect of such periods	    	$            
				
		    	(vi)	  	cash receipts in respect of Swap Contracts during such fiscal year to the extent not otherwise included in such Consolidated Net Income	    	$            
			
	(b)	    	over, the sum, without duplication; of:	    	
				
		    	(i)	  	an amount equal to the amount of all non-cash gains or credits included in arriving at such Consolidated Net Income (but excluding any non-cash gains
or credit to the extent representing the reversal of an accrual or reserve described in clause (a)(ii) above) and cash charges, losses or expenses excluded by virtue of clauses (a) through (q) of the definition of Consolidated Net Income in the
Credit Agreement	    	$            

  
 C-5 

							
		    	(ii)	  	without duplication of amounts deducted pursuant to clause (xi) below in prior fiscal years, the amount of Capital Expenditures, Capitalized Software Expenditures or acquisitions of intellectual property accrued or made in
cash during such period by the Borrower or the Restricted Subsidiaries to the extent financed with Internally Generated Cash	    	$            
				
		    	(iii)	  	the aggregate amount of all principal payments of Indebtedness of the Borrower and the Restricted Subsidiaries (including (A) the principal component of payments in respect of Capitalized Leases, (B) the amount of any
repayment of Loans pursuant to Section 2.07 of the Credit Agreement, and (C) the amount of any mandatory prepayment of Loans pursuant to Section 2.05(b)(ii) of the Credit Agreement to the extent required due to a Disposition or
Casualty Event that resulted in an increase to such Consolidated Net Income and not in excess of the amount of such increase, but excluding (W) all other prepayments of Term Loans (other than those specified in preceding clauses (B) and
(C)) and all voluntary prepayments of Refinancing Equivalent Debt and Incremental Equivalent Debt, (X) all prepayments of Revolving Credit Loans and Swing Line Loans, (Y) all prepayments in respect of any other revolving credit facility
and (Z) payments of Indebtedness constituting Indebtedness expressly subordinated to the Obligations, except in each case to the extent permitted to be paid pursuant to Section 7.13(a) of the Credit Agreement) made during such period, in each
case to the extent financed with Internally Generated Cash	    	$            
				
		    	(iv)	  	an amount equal to the aggregate net non-cash gain on Dispositions by the Borrower and the Restricted Subsidiaries during such period (other than Dispositions in the ordinary course of
business) to the extent included in arriving at such Consolidated Net Income	    	$            
				
		    	(v)	  	increases in Consolidated Working Capital for such period (other than any such increases arising from acquisitions or Dispositions by the Borrower and the Restricted Subsidiaries completed during such period or the application of
purchase accounting)	    	$            

  
 C-6 

							
		    	(vi)	  	cash payments by the Borrower and the Restricted Subsidiaries during such period in respect of long-term liabilities of the Borrower and the Restricted Subsidiaries (other than Indebtedness) to the extent such payments are not
expensed during such period or are not deducted in calculating Consolidated Net Income	    	$            
				
		    	(vii)	  	without duplication of amounts deducted pursuant to clauses (viii) and (xi) below in prior fiscal years, the amount of Investments made pursuant to Sections 7.02(b), (f), (i), (j), (m), (n), (s), (u) (other than Investments
in Restricted Subsidiaries), (v) (other than Investments in Restricted Subsidiaries), (bb) (other than Investments in Restricted Subsidiaries), (dd), (ff) and (gg) of the Credit Agreement, and the amount of acquisitions made during such period to
the extent that such Investments and acquisitions were financed with Internally Generated Cash and, to the extent applicable, not made in reliance on clause (b) of the definition of “Available Amount”	    	$            
				
		    	(viii)	  	the amount of Restricted Payments paid during such period pursuant to Sections 7.06(c), (f), (g), (h), (i), (k), (l), (o), (p) and (q) of the Credit Agreement in each case to the extent such Restricted Payments were financed
with Internally Generated Cash and, to the extent applicable, not made in reliance on clause (b) of the definition of “Available Amount”	    	$            
				
		    	(ix)	  	the aggregate amount of expenditures, fees and expenses actually made or paid by the Borrower and the Restricted Subsidiaries with Internally Generated Cash during such period (including expenditures for the payment of financing
fees) to the extent that such expenditures are not expensed (or exceed the amount that is expensed) during such period or are not deducted in calculating Consolidated Net Income	    	$            
				
		    	(x)	  	the aggregate amount of any premium, make-whole or penalty payments actually paid in cash by the Borrower and the Restricted Subsidiaries during such period that are made in connection with any prepayment of Indebtedness not
prohibited under the Credit Agreement to the extent such prepayments are not expensed during such period or are not deducted in calculating Consolidated Net Income and such payments reduced Excess Cash Flow pursuant to clause (b)(iii) above or
reduced the mandatory prepayment required by Section 2.05(b)(i) of the Credit Agreement	    	$            

  
 C-7 

							
		    	(xi)	  	without duplication of amounts deducted from Excess Cash Flow in prior periods, at the option of the Borrower, the aggregate consideration required to be paid in cash by the Borrower or any of the Restricted Subsidiaries pursuant
to binding contracts (the “Contract Consideration”) entered into prior to or during such period or otherwise budgeted to be paid in cash, in either case, relating to tax expenses, interest payments, Investments, Restricted Payments,
Permitted Acquisitions, Capital Expenditures, Capitalized Software Expenditures or acquisitions of intellectual property expected to be consummated or made during the period of four consecutive fiscal quarters of the Borrower following the end of
such period; provided that, to the extent the aggregate amount of cash actually utilized to finance such tax expenses, interest payments, Investments, Restricted Payments, Permitted Acquisitions, Capital Expenditures, Capitalized Software
Expenditures or acquisitions of intellectual property during such period of four consecutive fiscal quarters is less than the Contract Consideration or amount otherwise budgeted for, the amount of such shortfall shall be added to the calculation of
Excess Cash Flow at the end of such period of four consecutive fiscal quarters	    	$            
				
		    	(xii)	  	the amount of cash taxes paid or tax reserves set aside or payable (without duplication) in such period, to the extent they exceed the amount of tax expense deducted in determining Consolidated Net Income for such period	    	$            
				
		    	(xiii)	  	cash expenditures in respect of Swap Contracts during such fiscal year to the extent not deducted in arriving at such Consolidated Net Income.	    	$            
		
	Excess Cash Flow (the sum of clauses (a)(i) through (a)(vi) over the sum of clauses (b)(i) through (b)(xiii))	    	$            

  
 C-8 

 SCHEDULE 2 

TO COMPLIANCE CERTIFICATE 
 Net Cash Proceeds:

  

							
		    	with respect to the Disposition of any asset by the Borrower or any of the Restricted Subsidiaries or any Casualty Event, the excess, if any, of:	    	
			
	(i)	    	the sum of:	    	
				
		    	(A)	  	cash and Cash Equivalents received in connection with such Disposition or Casualty Event (including any cash and Cash Equivalents received by way of deferred payment pursuant to, or by monetization of, a note receivable or
otherwise, but only as and when so received and, with respect to any Casualty Event, any insurance proceeds or condemnation awards in respect of such Casualty Event actually received by or paid to or for the account of the Borrower or any of the
Restricted Subsidiaries)	    	$            
			
	(ii)	    	over the sum of:	    	
				
		    	(A)	  	the principal amount, premium or penalty, if any, interest and other amounts on any Indebtedness that is secured by the asset subject to such Disposition or Casualty Event and required to be repaid in connection with such
Disposition or Casualty Event (other than Indebtedness under the Loan Documents and Refinancing Equivalent Debt)	    	$            
				
		    	(B)	  	the out-of-pocket fees and expenses (including attorneys’ fees, investment banking fees, survey costs, title insurance premiums, and related
search and recording charges, transfer taxes, deed or mortgage recording taxes, other customary expenses and brokerage, consultant and other customary fees) actually incurred by the Borrower or such Restricted Subsidiary in connection with such
Disposition or Casualty Event and restoration costs following a Casualty Event	    	$            
				
		    	(C)	  	taxes (including Restricted Payments in respect thereof pursuant to Section 7.06 of the Credit Agreement) paid or reasonably estimated to be payable in connection therewith (including taxes imposed on the distribution or
repatriation of any such Net Cash Proceeds)	    	$            
				
		    	(D)	  	in the case of any Disposition or Casualty Event by a non-wholly owned Restricted Subsidiary, the pro-rata portion of the Net Cash Proceeds thereof
(calculated without regard to this clause (ii)(D)) attributable to minority interests and not available for distribution to or for the account of the Borrower or a wholly owned Restricted Subsidiary as a result thereof	    	$            

  
 C-9 

							
		    	(E)	  	any reserve for adjustment in respect of (x) the sale price of such asset or assets established in accordance with GAAP and (y) any liabilities associated with such asset or assets and retained by the Borrower or any
Restricted Subsidiary after such sale or other disposition thereof, including pension and other post-employment benefit liabilities and liabilities related to environmental matters or against any indemnification obligations associated with such
transaction, it being understood that “Net Cash Proceeds” shall include the amount of any reversal (without the satisfaction of any applicable liabilities in cash in a corresponding amount) of any reserve described in this clause
(ii)(E)	    	$            
		
	Net Cash Proceeds (clause (i)(A) over the sum of clauses (ii)(A) through (E))10	    	$            
		
	Portion of Net Cash Proceeds that has been invested or is intended to be reinvested in accordance with Section 2.05(b)(ii)(B) of the Credit Agreement	    	$            

  
  

	10 	No net cash proceeds calculated in accordance with the above realized in a single transaction or series of related transactions shall constitute Net Cash Proceeds unless such net cash proceeds shall exceed $5,000,000
and no such net cash proceeds shall constitute Net Cash Proceeds in any fiscal year until the aggregate amount of all such net cash proceeds in such fiscal year shall exceed $10,000,000 (and thereafter only net cash proceeds in excess of such amount
shall constitute Net Cash Proceeds). 

  
 C-10 

 SCHEDULE 3 

TO COMPLIANCE CERTIFICATE 
 Total Net Leverage
Ratio:11 
  

							
	(i)	    	Consolidated Net Debt:	    	
				
		    	(a)	  	 Consolidated Total Debt of the Borrower and the Restricted Subsidiaries:

 
 Consolidated Total Debt means, as of any date of determination, the aggregate principal
amount of Indebtedness of the Borrower and the Restricted Subsidiaries outstanding on such date, determined on a consolidated basis in accordance with GAAP (but excluding the effects of any discounting of Indebtedness resulting from the application
of recapitalization accounting or purchase accounting in connection with any Permitted Acquisition or any other Investment permitted hereunder, acquisitions completed prior to the Closing Date or for any other purpose), consisting of Indebtedness
for borrowed money, Capitalized Lease Obligations or obligations in respect of other purchase money indebtedness, unreimbursed obligations in respect of drawn letters of credit (subject to the proviso below) and debt obligations evidenced by
promissory notes or similar instruments; provided that Consolidated Total Debt shall not include Indebtedness in respect of (i) unreimbursed obligations in respect of drawn letters of credit until two (2) Business Days after such
amount is drawn (it being understood that any borrowing, whether automatic or otherwise, to fund such reimbursement shall be counted) and (ii) obligations under Swap Contracts
	    	$            
				
		    	(b)	  	Minus the aggregate amount of cash and Cash Equivalents of the Borrower and the Restricted Subsidiaries as of such date that is not Restricted	    	$            
			
		    	Consolidated Net Debt	    	$            

  

 

	11 	For the purposes of Section 7.11 of the Credit Agreement, Total Net Leverage Ratio is only tested when the Outstanding Amount of any Revolving Credit Loans and L/C Obligations (other than with respect to
(x) undrawn Letters of Credit in an amount not in excess of $5,000,000 and (y) Letters of Credit outstanding that have been Cash Collateralized in an amount not less than 103% of the stated amount in accordance with the requirements of
Section 2.03(g) of the Credit Agreement) exceeds 25% of the aggregate Revolving Credit Commitments as of the last day of any Test Period. 

  
 C-11 

											
	(ii)	    	Consolidated EBITDA:	    	
				
		    	(a)	    	Consolidated Net Income for such period:	    	
					
		    		    	(i)	    	the aggregate of the Net Income of the Borrower and its Restricted Subsidiaries for such period on a consolidated basis and otherwise determined in accordance with GAAP, (x) excluding, without duplication:	    	$            
						
		    		    		    	(A)	    	any net after-tax extraordinary, non-recurring or unusual gains or losses, charges or expenses	    	$            
						
		    		    		    	(B)	    	the cumulative effect of a change in accounting principles during such period, whether effected through a cumulative effect adjustment or a retroactive application, in each case in accordance with GAAP	    	$            
						
		    		    		    	(C)	    	effects of adjustments (including the effects of such adjustments pushed down to the Borrower and its Subsidiaries) in such Person’s consolidated financial statements pursuant to GAAP (including in the property and
equipment, software, goodwill, intangible assets, deferred revenue and debt line items thereof) resulting from the application of recapitalization accounting or purchase accounting, as the case may be, in relation to any consummated acquisition or
the amortization or write-off of any amounts thereof (including any write-off of in process research and development), net of taxes	    	$            
						
		    		    		    	(D)	    	any net after-tax income (loss) from disposed, abandoned, transferred, closed or discontinued operations (excluding held for sale discontinued operations actually disposed of) and any net after-tax gains or losses on disposal of disposed, abandoned, transferred, closed or discontinued operations	    	$            
						
		    		    		    	(E)	    	any net after-tax gains or losses (less all fees and expenses relating thereto) attributable to asset dispositions or the sale or other disposition of any Equity Interests of any Person
other than in the ordinary course of business, as determined in good faith by the Borrower	    	$            

  
 C-12 

											
		    		    		    	(F)	    	the Net Income for such period of any Person that is not a Subsidiary, or is an Unrestricted Subsidiary, or that is accounted for by the equity method of accounting; provided that the Borrower’s or any Restricted
Subsidiary’s equity in the Net Income of such Person or Unrestricted Subsidiary shall be included in the Consolidated Net Income of the Borrower or such Restricted Subsidiary up to the aggregate amount of dividends or distributions or other
payments that are actually paid in cash (or to the extent converted into cash) by such Person or Unrestricted Subsidiary to the Borrower or a Restricted Subsidiary in respect of such period (subject in the case of dividends, distributions or other
payments made to a Restricted Subsidiary to the limitations contained in clause (G) below)	    	$            

  
 C-13 

											
		    		    		    	(G)	    	solely for the purpose of determining the Available Amount for application pursuant to Section 7.02(j), Section 7.06(c) and Section 7.13(a)(v) of the Credit Agreement, the Net Income for such period of any Restricted Subsidiary
(other than the Borrower or any Guarantor) to the extent the declaration or payment of dividends or similar distributions by that Restricted Subsidiary of its Net Income is not at the date of determination permitted without any prior governmental
approval (which has not been obtained) or, directly or indirectly, by the operation of the terms of its charter or any agreement, instrument, judgment, decree, order, statute, rule, or governmental regulation applicable to that Restricted Subsidiary
or its equity holders, unless such restriction with respect to the payment of dividends or similar distributions has been legally waived; provided that Consolidated Net Income of the Borrower will be increased by the amount of dividends or
other distributions or other payments actually paid in cash (or to the extent converted into cash) to the Borrower or a Restricted Subsidiary thereof in respect of such period, to the extent not already included therein	    	$            

  
 C-14 

											
		    		    		    	(H)	    	(i) any net unrealized gain or loss (after any offset) resulting in such period from obligations in respect of Swap Contracts and the application of Accounting Standards Codification 815 (Derivatives and Hedging) or any
ineffectiveness recognized in earnings related to qualifying hedge transactions or the fair value of changes therein recognized in earnings for derivatives that do not qualify as hedge transactions, in each case, in respect of Swap Contracts,
(ii) any net gain or loss resulting in such period from currency translation gains or losses related to currency re-measurements of Indebtedness (including the net loss or gain (A) resulting from
Swap Contracts for currency exchange risk and (B) resulting from intercompany Indebtedness) and all other foreign currency translation gains or losses, and (iii) any net after-tax income (loss) for
such period attributable to the early extinguishment or conversion of (A) Indebtedness, (B) obligations under any Swap Contracts or (C) other derivative instruments and all deferred financing costs written off or amortized and premiums
paid or other expenses incurred directly in connection therewith	    	$            
						
		    		    		    	(I)	    	any goodwill or impairment charge or asset write-off or write-down, including impairment charges or asset write-offs or write-downs related to intangible assets, long-lived assets,
investments in debt and equity securities or as a result of a change in law or regulation, in each case pursuant to GAAP, the amortization of intangibles arising pursuant to GAAP and the amortization of Capitalized Software Expenditures	    	$            

  
 C-15 

											
		    		    		    	(J)	    	any expenses, charges or losses that are covered by indemnification or other reimbursement provisions in connection with any Investment or Permitted Acquisition, acquisitions completed prior to the Closing Date or any sale,
conveyance, transfer or other disposition of assets, in each case, permitted under the Credit Agreement or that are consummated prior to the Closing Date, to the extent actually reimbursed, or, so long as the Borrower has made a determination that a
reasonable basis exists for indemnification or reimbursement and only to the extent that such amount is in fact indemnified or reimbursed within 365 days of such determination (with a deduction in the applicable future period for any amount so added
back to the extent not so indemnified or reimbursed within such 365 days)	    	$            
						
		    		    		    	(K)	    	to the extent covered by insurance and actually reimbursed, or, so long as the Borrower has made a determination that a reasonable basis exists that such amount will in fact be reimbursed within 365 days of the date of such
determination (with a deduction in the applicable future period for any amount so added back to the extent not so reimbursed within such 365 days), expenses, charges or losses with respect to liability or casualty events or business
interruption	    	$            
						
		    		    		    	(L)	    	any non-cash (for such period and all other periods) compensation charge or expense, including any such charge or expense arising from the grants of stock appreciation or similar rights,
stock options, restricted stock or other rights or equity incentive programs	    	$            
						
		    		    		    	(M)	    	any income (loss) attributable to deferred compensation plans or trusts and any non-cash deemed finance charges in respect of any pension liabilities or other provisions or on the
revaluation of any benefit plan obligation	    	$            

  
 C-16 

											
		    		    		    	(N)	  	the amount of any expense to the extent a corresponding amount is received in cash by the Borrower and the Restricted Subsidiaries from a Person other than the Borrower or any Restricted Subsidiaries; provided such amount
received has not been included in determining Consolidated Net Income (it being understood that if the amounts received in cash under any such agreement in any period exceed the amount of expense in respect of such period, such excess amounts
received may be carried forward and applied against expense in future periods)	    	$            
						
		    		    		    	(O)	  	any adjustments resulting from the application of Accounting Standards Codification Topic No. 460 (Guarantees), or any comparable regulation	    	$            
						
		    		    		    	(P)	  	earn-out and contingent consideration obligations (including adjustments thereof and purchase price adjustments) incurred in connection with any Permitted Acquisition or other Investment permitted under the Credit Agreement and
any acquisitions completed prior to the Closing Date	    	$            
				
		    		    	and (y) including, to the extent not already included in Consolidated Net Income and to the extent the related loss was deducted in the determination of Net Income, proceeds from any business interruption
insurance.	    	$            
				
		    	(b)	    	plus (without duplication, and as determined in accordance with GAAP to the extent applicable):	    	
				
		    	(i)	    	(A) provision for taxes based on income or profits or capital, plus state, provincial, franchise, property or similar taxes and foreign withholding taxes and foreign unreimbursed value added taxes, of such Person for
such period (including, in each case, penalties and interest related to such taxes or arising from tax examinations) deducted in computing Consolidated Net Income and (B) amounts paid to a Permitted Parent in respect of taxes in accordance with
Section 7.06(g) of the Credit Agreement, solely to the extent such amounts were deducted in computing Consolidated Net Income,	    	$            

  
 C-17 

											
		    	(ii)	    	(A) total interest expense of such Person and, to the extent not reflected in $ such total interest expense, any losses on hedging obligations or other derivative instruments entered into for the purpose of hedging
interest rate risk, and (B) bank fees and costs owed with respect to letters of credit, bankers acceptances and surety bonds, in each case under this clause (B), in connection with financing activities and, in each case under clauses
(A) and (B), to the extent the same were deducted in computing Consolidated Net Income,	    	$            
				
		    	(iii)	    	Consolidated Depreciation and Amortization Expense for such period to the extent such depreciation and amortization expenses were deducted in computing Consolidated Net Income,	    	$            
				
		    	(iv)	    	any (A) Transaction Expenses and (B) fees, costs, expenses or charges incurred (I) in connection with (x) any issuance or offering of Equity Interests, Investment, acquisition (including any one-time costs incurred in connection with any Permitted Acquisition or any other Investment permitted under the Credit Agreement after the Closing Date), Disposition, recapitalization or the issuance, incurrence,
redemption or repayment of Indebtedness (including, with respect to Indebtedness, a refinancing thereof), (y) any amendment, waiver, consent or modification to any documentation governing the terms of any transaction described in the immediately
preceding subclause (x) or (z) any amendment, waiver, consent or modification to any Loan Document, in each case under subclauses (x), (y) and (z), whether or not such transaction or amendment, waiver, consent or modification is successful, and
solely to the extent such transaction or amendment, waiver, consent or modification is permitted to be incurred, made or entered into in accordance with the Credit Agreement or (II) to the extent reimbursable by third parties, pursuant to
indemnification provisions, in each case, deducted in computing Consolidated Net Income,	    	$            

  
 C-18 

											
		    	(v)	    	any charges, losses or expenses related to signing, retention, relocation, recruiting or completion bonuses or recruiting costs, severance costs, transition costs, curtailments or modifications to pension and
post-retirement employee benefit plans (including any settlement of pension liabilities), pre-opening, opening, closing and consolidation costs and expenses with respect to any facilities, facility start-up costs, costs and expenses relating to implementation of operational and reporting systems and technology initiatives, costs and expenses relating to any registration statement, or registered exchange offer
in respect of any Indebtedness permitted under the Credit Agreement, costs incurred in connection with product and intellectual property development and new systems design, project start-up costs, integration
and systems establishment costs, costs of strategic initiatives, business optimization expenses or costs (including costs and expenses relating to intellectual property restructurings) and cash restructuring charges or reserves,	    	$            
				
		    	(vi)	    	stock warrant and stock related liabilities recorded in accordance with GAAP, solely to the extent such amounts were deducted in computing Consolidated Net Income,	    	$            
				
		    	(vii)	    	any other non-cash charges, expenses, losses or items, including any write offs or write downs, reducing such Consolidated Net Income for such period (provided that if
any such non-cash charges represent an accrual or reserve for potential cash items in any future period, (1) the Borrower may determine not to add back such
non-cash charge in the current period and (2) to the extent the Borrower does decide to add back such non-cash charge, the cash payment in respect thereof in such
future period shall be subtracted from Consolidated EBITDA to such extent, and excluding amortization of a prepaid cash item that was paid in a prior period),	    	$            
				
		    	(viii)	    	the amount of any minority interest expense or non-controlling interest consisting of Subsidiary income attributable to minority equity interests of third parties in any non-wholly owned Subsidiary deducted in calculating Consolidated Net Income,	    	$            
				
		    	(ix)	    	the amount of customary fees, reasonable out-of-pocket costs, indemnities and expenses paid or accrued in such period to any Permitted
Holder or any of their Affiliates to the extent required under the Summit Sale Documents and deducted in such period in computing Consolidated Net Income,	    	$            

  
 C-19 

											
		    	(x)	    	the amount of “run rate” cost savings, operating expense reductions, restructuring charges and expenses and synergies related to any acquisition consummated after the Borrower’s fiscal year ended
September 27, 2013 and prior to the Closing Date (without duplication of any amounts added back pursuant to Section 1.08(c) of the Credit Agreement in connection with a Specified Transaction) projected by the Borrower in good faith to result
from actions taken, committed to be taken or expected to be taken no later than twenty-four (24) months after the date such acquisition was consummated (which “run rate” cost savings, operating expense reductions, restructuring
charges and expenses and synergies shall be calculated on a pro forma basis as though such “run rate” cost savings, operating expense reductions, restructuring charges and expenses and synergies had been realized on the first day of the
period for which Consolidated EBITDA is being determined), net of the amount of actual benefits realized during such period from such actions; provided that such “run rate” cost savings, operating expense reductions, restructuring
charges and expenses and synergies are reasonably identifiable and factually supportable (in the good faith determination of the Borrower),	    	$            
				
		    	(xi)	    	the amount of “run rate” cost savings, operating expense reductions, restructuring charges and expenses and synergies related to any Specified Transaction, restructurings, cost savings initiatives and other
initiatives after the Closing Date (without duplication of any amounts added back pursuant to Section 1.08(c) of the Credit Agreement in connection with a Specified Transaction) and projected by the Borrower in good faith to result from actions
taken, committed to be taken or expected to be taken no later than twenty-four (24) months after the end of such period (which “run rate” cost savings, operating expense reductions, restructuring charges and expenses and synergies
shall be calculated on a pro forma basis as though such “run rate” cost savings, operating expense reductions, restructuring charges and expenses and synergies had been realized on the first day of the period for which Consolidated EBITDA
is being determined), net of the amount of actual benefits realized during such period from such actions; provided that such “run rate” cost savings, operating expense reductions, restructuring charges and expenses and synergies are
reasonably identifiable and factually supportable (in the good faith determination of the Borrower),	    	$            

  
 C-20 

											
		    	(xii)	    	any costs or expenses incurred by the Borrower or a Restricted Subsidiary pursuant to any management equity plan or stock option plan or any other management or employee benefit plan or agreement or any stock
subscription or stockholders agreement, to the extent that such costs or expenses are funded with cash proceeds contributed to the capital of the Borrower or net cash proceeds of issuance of Equity Interests of the Borrower (other than Disqualified
Equity Interests), in each case, solely to the extent that such cash proceeds are excluded from the calculation of the Available Amount,	    	$            
				
		    	(xiii)	    	Specified Legal Expenses,	    	
				
		    	(xiv)	    	accruals and reserves that are established or adjusted (x) within 12 months after the Closing Date and that are so required to be established or adjusted in accordance with GAAP or (y) after the closing of
any acquisition that are so required as a result of such acquisition in accordance with GAAP, or changes as a result of the adoption or modification of accounting polices, whether effected through a cumulative effect adjustment, restatement or a
retroactive application,	    	$            
				
		    		    	minus (without duplication, and as determined in accordance with GAAP to the extent applicable) any non-cash gains increasing Consolidated Net Income for such period,
excluding any gains that represent the reversal of any accrual of, or cash reserve for, anticipated cash charges in any prior period (other than such cash charges that have been added back to Consolidated Net Income in calculating Consolidated
EBITDA in accordance with this clause (b))	    	$            
				
		    		    	Consolidated EBITDA	    	$            
				
		    		    	Consolidated Net Debt to Consolidated EBITDA	    	[        ]:1.00
				
		    		    	Covenant Requirement	    	No more than
4.50:1.00

  
 C-21

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