Document:

ex10-2.htm

Exhibit 10.2

 

 

THE BRYN MAWR TRUST COMPANY

 

EXECUTIVE CHANGE-OF-CONTROL

 

SEVERANCE AGREEMENT

 

This Agreement made as of September 8, 2015 between The Bryn Mawr Trust Company, a Pennsylvania financial institution, subject to the provisions of the Pennsylvania Banking Code of 1965, as amended (the “Company”), and Michael W. Harrington (the “Employee”).

 

WHEREAS, the Employee has entered into an employment letter agreement of even date herewith and will be employed by the Company as its Chief Financial Officer beginning October 5, 2015;

 

WHEREAS, the Company considers it essential to foster the employment of well qualified key management personnel, and, in this regard, the board of directors of the Company recognizes that, as is the case with many financial institutions, the possibility of a change of control of the Company’s publicly held parent company, Bryn Mawr Bank Corporation, (“BMBC”) may exist and that such possibility, and the uncertainty and questions which it may raise among the Company’s management, may result in the departure or distraction of key management personnel to the detriment of the Company and ultimately to the detriment of BMBC and its shareholders;

 

WHEREAS, the Boards of Directors of the Company and BMBC have determined that appropriate steps should be taken to reinforce and encourage the continued attention and dedication of key members of the Company’s management to their assigned duties, without distraction in the face of potentially disturbing circumstances arising from the possibility of a change of control of the BMBC, although no such change is now contemplated; and

 

WHEREAS, in order to induce the Employee, who will be a key member of the Company’s management, to become an employee of the Company, the Company agrees that the Employee shall receive the compensation and benefits set forth in this Agreement in the event his/her employment with the Company is terminated subsequent to a “Change of Control” (as defined in Section 1 hereof) of BMBC, as a cushion against the financial and career impact on the Employee of any such Change of Control;

 

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and agreements hereinafter set forth and intending to be legally bound hereby, the parties hereto agree as follows:

 

1. Definitions. For all purposes of this Agreement, the following terms shall have the meanings specified in this Section, unless the context clearly otherwise requires:

 

(a) “Affiliate” and “Associate” shall have the respective meanings ascribed to such terms in Rule 12b-2 of the General Rules and Regulations issued under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). 

 

(b) “AIP” shall mean any Annual Incentive Plan of the Company, as in effect immediately prior to a Change of Control, or predecessor or prior plan, including the Company’s annual bonus plan applicable to Employee.

 

 

 

 

 

 

(c) “Base Salary” shall mean the total cash remuneration earned by the Employee on an annualized basis in all capacities with the Company and its Subsidiaries, including, without limitation, any amounts the payment of which has been deferred by the Employee, excluding only payments earned by or allocated to the Employee under the AIP.

 

(d) A Person shall be deemed the “Beneficial Owner” of any securities:

 

(i) that such Person or any of such Person’s Affiliates or Associates, directly or indirectly, has the right to acquire (whether such right is exercisable immediately or only after the passage of time) pursuant to any agreement, arrangement or understanding (whether or not in writing) or upon the exercise of conversion rights, exchange rights, rights, warrants or options, or otherwise; provided, however, that a Person shall not be deemed the “Beneficial Owner” of securities tendered pursuant to a tender or exchange offer made by such Person or any of such Person’s Affiliates or Associates until such tendered securities are accepted for payment, purchase or exchange;

 

(ii) that such Person or any of such Person’s Affiliates or Associates, directly or indirectly, has the right to vote or dispose of or has “beneficial ownership” of (as determined pursuant to Rule 13d-3 of the General Rules and Regulations issued under the Exchange Act), including without limitation pursuant to any agreement, arrangement or understanding, whether or not in writing; provided, however, that a Person shall not be deemed the “Beneficial Owner” of any security under this subsection (ii) as a result of an oral or written agreement, arrangement or understanding to vote such security if such agreement, arrangement or understanding (A) arises solely from a revocable proxy given in response to a public proxy or consent solicitation made pursuant to, and in accordance with, the applicable provisions of the General Rules and Regulations issued under the Exchange Act, and (B) is not then reportable by such Person on Schedule 13D under the Exchange Act (or any comparable or successor report); or

 

(iii) that are beneficially owned, directly or indirectly, by any other Person (or any Affiliate or Associate thereof) with which such Person (or any of such Person’s Affiliates or Associates) has any agreement, arrangement or understanding (whether or not in writing) for the purpose of acquiring, holding, voting (except pursuant to a revocable proxy as described in the proviso to subsection (ii) above) or disposing of any voting securities of BMBC; provided, however, that nothing in this Section 1(d) shall cause a Person engaged in business as an underwriter of securities to be the “Beneficial Owner” of any securities acquired through such Person’s participation in good faith in a firm commitment underwriting until the expiration of forty (40) days after the date of such acquisition.

 

(e) “Board” shall mean the board of directors of the Company or BMBC as the context of this Agreement indicates.

  

(f) “Change of Control” shall be deemed to have taken place if (i) any Person (except BMBC, any Subsidiary of BMBC, any employee benefit plan of BMBC or the Company, any Person or entity organized, appointed or established by BMBC or any Subsidiary of BMBC for or pursuant to the terms of any such employee benefit plan) together with all Affiliates and Associates of such Person, shall become the Beneficial Owner in the aggregate of 25% or more of the common stock of BMBC then outstanding, or (ii) during any twenty-four month period, individuals who at the beginning of such period constituted the Board of BMBC or the Company cease, for any reason, to constitute a majority thereof, unless the election, or the nomination for election by BMBC’s or the Company’s shareholders, as the case may be, of each director who was not a director at the beginning of such period was approved by a vote of at least two-thirds of the directors in office at the time of such election or nomination, who were directors at the beginning of such period.

 

 

 

 

 

 

(g) “Common Stock” shall mean the outstanding common stock of BMBC.

 

(h) “Person” shall mean any individual, firm, corporation, partnership or other entity.

 

(i) “Separation from Service” means, the Employee’s “separation from service”, within the meaning of Section 409A of the Code, from the Company To the extent required by the definition of “separation from service” under Section 409A of the Code, “Separation from Service” shall mean the Employee’s separation from service (as so defined) from both the Company and all other persons with whom the Company would be considered a “single employer under Section 414(b) or (c) of the Code, but replacing the phrase “at least 80 per cent” with the phrase “at least 50%” where it appears in Section 1563(a)(1), 2, and 3 of the Code and in the regulations under Section 414(c).

 

(j) “Specified Employee” means an individual who is a “specified employee” with respect to the Company within the meaning of Section 409A of the Code.”

 

(k) “Stock Plan” shall mean (i) BMBC’s Amended and Restated 2010 Long Term Incentive Plan; and (ii) any other stock option plan, stock option and stock appreciation rights plan, stock bonus plan, stock grant plan, or similar benefit plan established by BMBC and which exists for the benefit of the Employee at the time of a Change in Control.

 

(l) “Subsidiary” shall have the meaning ascribed to such term in Rule 12b-2 of the General Rules and Regulations issued under the Exchange Act.

 

(m) “Termination Date” shall mean the date of receipt of the Notice of Termination described in Section 2 hereof or any later date specified therein, as the case may be.

 

(n) “Termination upon a Change of Control” shall mean a Separation from Service upon or within two (2) years after a Change of Control either:

 

(i) initiated by the Company for any reason other than (x) the Employee’s continuous illness, injury or incapacity for a period of six consecutive months or (y) for “cause,” which shall mean misappropriation of funds, habitual insobriety, substance abuse, conviction of a crime involving moral turpitude, or gross negligence in the performance of his/her duties, which gross negligence has had a material adverse effect on the business, operations, assets, properties or financial condition of the Company and its Subsidiaries or BMBC and its Subsidiaries taken as a whole; or

 

 

(ii) initiated by the Employee following one or more of the following occurrences:

 

(A) a significant reduction by the Company or BMBC (if the Employee is an officer of BMBC) of the authority, duties or responsibilities of the Employee immediately prior to the Change of Control;

 

 

 

 

 

 

(B) any removal of the Employee from his/her officer position with BMBC, the Company and its Subsidiaries held by him/her immediately prior to the Change of Control, except in connection with promotions to higher office;

 

(C) a reduction by the Company in the Employee’s Base Salary as in effect immediately prior to the Change of Control;

 

(D) revocation or any modification of the AIP or Stock Plan, or any action taken pursuant to the terms of either plan, which materially (x) reduces the opportunity to receive compensation under any or both of such plans of equivalent amounts received by the Employee during the three (3) fiscal years immediately preceding the Change of Control, subject to the right of the Boards of Directors of BMBC or the Company, as appropriate, to establish in a manner consistent with past practice, prior to the Change of Control, reasonable goals under the AIP or Stock Plan, (y) reduces the compensation payable to the Employee under either or both of such plans but which does not effect comparable reductions in the compensation payable to the other participants in such plans, or (z) increases the compensation payable to other participants in either or both of such plans but which does not effect corresponding increases in the amount of compensation payable to the Employee;

 

(E) a transfer of the Employee, without his/her express written consent, to a location which is outside the Greater Philadelphia area (or the general area in which his/her principal place of business immediately preceding the Change of Control may be located at such time, if other than Bryn Mawr, Pennsylvania), or which is otherwise an unreasonable commuting distance from the Employee’s principal residence at the date of the Change of Control;

 

(F) the Employee being required to undertake business travel to an extent substantially greater than the Employee’s business travel obligations immediately prior to the Change of Control; or

 

(G) any failure of the Company to comply with and satisfy Section 13 of this Agreement.

 

2. Notice of Termination. Any Termination upon a Change of Control shall be communicated by a Notice of Termination to the other party hereto given in accordance with Section 14 hereof. For purposes of this Agreement, a “Notice of Termination” means a written notice which (i) indicates the specific termination provision in this Agreement relied upon, (ii) briefly summarizes the facts and circumstances deemed to provide a basis for termination of the Employee’s employment under the provision so indicated, and (iii) if the Termination Date is other than the date of receipt of such notice, specifies the Termination Date (which date shall not be more than 15 days after the giving of such notice).

 

3. Severance Compensation upon Termination. Subject to the provisions of Section 10 hereof, in the event of the Employee’s Termination upon a Change of Control, the Company shall pay to the Employee, within fifteen (15) days after the Termination Date (or as soon as possible thereafter in the event that the procedures set forth in paragraph (b) of Section 11 hereof cannot be completed within fifteen (15) days) an amount in cash equal to three (3) times the sum of the Employee’s Base Salary in effect either immediately prior to the Separation from Service or immediately prior to the Change of Control, whichever is higher.

 

4. Other Payments. Subject to the provisions of Section 10 hereof, in the event of the Employee’s Termination upon a Change of Control, the Company shall:

 

(a) pay to the Employee within fifteen (15) days after the Termination Date:

 

 

 

 

 

 

(i) unless the Employee has exercised such options, an amount equal to the excess, if any, of the aggregate fair market value of the shares of BMBC’s Common Stock subject to all stock options outstanding and unexercised as of the Termination Date, whether vested or unvested, granted to the Employee under the Stock Plan, over the aggregate exercise price of all such stock options. For purposes of this paragraph, fair market value shall mean the highest of (x) the closing price of BMBC’s Common Stock on the last business day the Common Stock was traded immediately preceding the Termination Date, if such Common Stock is publicly traded at such date, (y) if such Common Stock is not publicly traded at the Termination Date, the value determined by an independent appraiser, such appraiser to be selected by the Employee and to be reasonably satisfactory to the Company (the fees and expenses of such appraiser to be borne by the Company), or (z) the highest per share price of BMBC’s Common Stock paid (in connection with the Change of Control or at any time thereafter) by the Person or group whose acquisition of shares of Common Stock of BMBC has given rise to a Change of Control;

 

(ii) to the extent not theretofore paid, the Employee’s Base Salary through the Termination Date and a further amount equal to the Employee’s salary in lieu of his/her unused vacation pay, if any, both calculated at the salary rate in effect on the Termination Date, or, if higher, at the highest rate in effect at any time within the 90-day period preceding the Termination Date;

 

(iii) to the extent not theretofore paid, an amount equal to all awards earned by the Employee under the AIP in respect of complete plan periods prior to the Termination Date (excluding all amounts the payment of which was previously deferred under such plans which shall be payable in accordance with their terms). In the event that the Company’s financial statements for any fiscal years, included in such plan periods, have not yet been completed at the Termination Date, the Company shall pay to the Employee the amounts due hereunder as soon as possible thereafter;

 

(iv) payment in respect of the AIP for the uncompleted fiscal year during which Separation from Service occurs determined by multiplying the amount determined in Section 4(a)(iii) by a fraction, the numerator of which shall be the number of days between the Termination Date and the last day of the last full fiscal year prior to the Termination Date and the denominator of which shall be Three Hundred Sixty Five (365); and

  

(b) to the extent permitted by applicable law, continue or cause to be continued until thirty-six (36) whole months after the Termination Date, on the cost-sharing basis in effect immediately prior to the Change of Control, medical, dental, life and disability insurance benefits substantially equivalent in all material respects to and payable in the same amounts and according to the same schedule as those furnished by the Company to the Employee immediately prior to the Change of Control; provided, however, that the obligation of the Company to provide such benefits shall cease at such time as the Employee is employed on a full-time basis by a Person not owned or controlled by the Employee that provides the Employee, on substantially the same cost-sharing basis between the Company and the Employee in effect immediately prior to the Change of Control, with medical, dental, life and disability insurance benefits substantially equivalent in all material respects to those furnished by the Company and its Subsidiaries to the Employee immediately prior to the Change of Control;

 

 

 

 

 

 

(c) pay for reasonable career counseling services provided by Kelleher Associates, LLC or any such equivalent agency satisfactory to both the Company and the Employee payable in the same amounts and on the same schedule as in effect, immediately prior to the Change of Control, and payable for no more than thirty six (36) whole months after the Termination Date.

 

(d) Payments or reimbursements pursuant to subsection (b) and (d) of this Section 4 shall be subject to the following conditions:

 

(i) Payments shall be made on a calendar year basis;

 

(ii) Amounts payable with respect to a calendar year shall not affect amounts payable with respect to another calendar year; and

 

(iii) Payments with respect to expenses incurred must be made no later than the end of the calendar year following the calendar year in which they were incurred.

 

4A. Six (6) Month Delay in Payments. Notwithstanding anything in this Agreement to the contrary, if the Employee is a Specified Employee on the date of his Separation From Service, then in no event shall any amount payable to him or her be paid before the date that is six months after the date of such Separation From Service.

 

5. Establishment of Trust. Immediately upon a Change of Control as herein defined, the Company shall establish an irrevocable trust fund pursuant to a trust agreement to hold assets to satisfy its obligations hereunder. Funding of such trust fund shall be subject to the Company’s discretion, as to be set forth in the agreement pursuant to which the trust fund will be established.

 

6. Enforcement.

 

(a) In the event that the Company shall fail or refuse to make payment of any amounts due the Employee under Sections 3 and 4 hereof within the respective time periods provided therein, the Company shall pay to the Employee, in addition to the payment of any other sums provided in this Agreement, interest, compounded daily, on any amount remaining unpaid from the date payment is required under Section 3, 4 or 5, as appropriate, until paid to the Employee, at the prime rate published daily in the Wall Street Journal, each change in such rate to take effect on the effective date of the change in such prime rate.

 

(b) It is the intent of the parties hereto that the Employee not be required to incur any expenses associated with the enforcement of his/her rights under this Agreement by arbitration, litigation or other legal action because the cost and expense thereof would substantially detract from the benefits intended to be extended to the Employee hereunder. Accordingly, the Company shall pay the Employee on demand the amount necessary to reimburse the Employee in full for all expenses (including all attorneys’ fees and legal expenses) incurred by the Employee in enforcing any of the obligations of the Company under this Agreement.

 

7. No Mitigation. The Employee shall not be required to mitigate the amount of any payment or benefit provided for in this Agreement by seeking other employment or otherwise.

 

8. Nonexclusivity of Rights. Nothing in this Agreement shall prevent or limit the Employee’s continuing or future participation in or rights under any benefit, bonus, incentive or other plan or program provided by BMBC, the Company or any of its Subsidiaries or Affiliates and for which the Employee may qualify; provided, however, that if the Employee becomes entitled to and receives all of the payments provided for in this Agreement, the Employee agrees to waive his/her right to receive payments under any severance plan or program applicable to all employees of the Company.

 

 

 

 

 

 

9. No Set-Off. The Company’s obligation to make the payments provided for in this Agreement and otherwise to perform its obligations hereunder shall not be affected by any circumstances, including, without limitation, any set-off, counterclaim, recoupment, defense or other right which the Company may have against the Employee or others and the Company hereby agrees not to exercise any such rights with respect to payment due the Employee pursuant to this Agreement.

 

10. Certain Reduction of Payments.

 

(a) Anything in this Agreement to the contrary notwithstanding, in the event that it shall be determined as set forth herein that any payment or distribution by the Company to or for the benefit of the Employee, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise (a “Payment”), would constitute an “excess parachute payment” within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”), and that it would be economically advantageous to the Employee to reduce the Payment to avoid or reduce the taxation of excess parachute payments under Section 4999 of the Code, the aggregate present value of amounts payable or distributable to or for the benefit of the Employee pursuant to this Agreement (such payments or distributions pursuant to this Agreement are hereinafter referred to as “Agreement Payments”) shall be reduced (but not below zero) to the Reduced Amount. The “Reduced Amount” shall be an amount expressed in present value which maximizes the aggregate present value of Agreement Payments without causing any Payment to be subject to the taxation under Section 4999 of the Code. For purposes of this Section 10, present value shall be determined in accordance with Section 280G(d)(4) of the Code.

 

(b) All determinations to be made under this Section 10 shall be made, in writing, by KPMG LLP, or the Company’s independent certified public accountant immediately prior to the Change of Control, if other than KPMG LLP, (the “Accounting Firm”), which firm shall provide its determinations and any supporting calculations in writing to both the Company and the Employee within ten (10) days of the Termination Date. Any such determination by the Accounting Firm shall be binding upon the Company and the Employee. The Employee shall in his or her sole discretion determine which and how much of the Agreement Payments shall be eliminated or reduced consistent with the requirements of this Section 10, which determination shall be made by delivery of written notice to the Company within 10 days of Employee’s receipt of the determination of the Accounting Firm. Within five (5) days after the Employee’s timely determination, the Company shall pay (or cause to be paid) or distribute (or cause to be distributed) to or for the benefit of the Employee, such amounts as are then due to the Employee under this Agreement. In the event Employee does not make such timely determination then within 15 days after Company’s receipt of the determination of the Accounting Firm, the Company in its sole discretion may pay (or cause to be paid) or distribute (or cause to be distributed) to or for the benefit of the Employee such portion of the Agreement Payments as it may deem appropriate, but no less than the Reduced Amount.

 

(c) As a result of the uncertainty in the application of Section 280G of the Code at the time of the initial determination by the Accounting Firm hereunder, it is possible that Agreement Payments, as the case may be, will have been made by the Company which should not have been made (“Overpayment”) or that additional Agreement Payments which have not been made by the Company could have been made (“Underpayment”), in each case, consistent with the calculations required to be made hereunder. Within two (2) years after the Separation from Service, the Accounting Firm shall review the determination made by it pursuant to the preceding paragraph. In the event that the Accounting Firm determines that an Overpayment has been made, any such Overpayment shall be treated for all purposes as a loan to the Employee which the Employee shall repay to the Company together with interest at the applicable Federal rate provided for in Section 7872(f)(2) of the Code (the “Federal Rate”); provided, however, that no amount shall be payable by the Employee to the Company if and to the extent such payment would not reduce the amount which is subject to taxation under Section 4999 of the Code. In the event that the Accounting Firm determines that an Underpayment has occurred, any such Underpayment shall be promptly paid by the Company to or for the benefit of the Employee together with interest thereon at the Federal Rate.

 

 

 

 

 

 

(d) All of the fees and expenses of the Accounting Firm in performing the determinations referred to in paragraphs (b) and (c) above shall be borne solely by the Company. The Company agrees to indemnify and hold harmless the Accounting Firm of and from any and all claims, damages and expenses of any nature resulting from or relating to its determinations pursuant to paragraphs (b) and (c) above, except for claims, damages or expenses resulting from the gross negligence or willful misconduct of the Accounting Firm.

 

11. Settlement of All Disputes.

 

(a) The Employee and the Company acknowledge that the Compensation Committee of the Company’s Board intends to review and approve a schedule indicating a method of calculating certain payments to be made to the Employee hereunder in the event of a Termination upon a Change of Control. In the event that the compensation plans referred to herein change prior to a Change of Control, the Compensation Committee of the Company’s Board may, prior to such Change of Control, revise the schedule to reflect such changes. The method of calculation set forth on such schedule, as so revised prior to a Change of Control, shall be followed by the parties hereto unless manifestly unfair to the Employee.

 

(b) In the event of any dispute, controversy or claim arising out of or relating to any provision of this Agreement or the Employee’s Termination upon a Change of Control, the Company shall appoint as the sole and exclusive arbiter of such dispute, controversy or claim, a committee composed of two persons who were members of the Company’s Board at any time within five (5) years prior to the Change of Control (which persons may, but need not be, directors of the Company at the time of such dispute, controversy or claim); provided , however , that no person shall be eligible to serve thereon who (i) is at the Termination Date, or shall have been at any time within one year prior thereto, an executive officer of the Company, or (ii) shall be or have been at any time related in any manner to or otherwise affiliated with, or was first nominated by, the corporation, Person or group whose acquisition of shares of Common Stock of BMBC has given rise to a Change of Control. The decision of such committee and the award of any monetary judgment or other relief by such committee shall be final and binding upon the Employee and the Company, and shall not be subject to appeal. Judgment may be entered upon the decision and award of such committee by the Employee or the Company in any court of competent jurisdiction. The Company shall pay the persons selected pursuant to this subsection a reasonable fee for their services, and shall reimburse such persons for their expenses incurred in this capacity. In addition, the Company shall, to the maximum extent permitted by law, indemnify and hold harmless such persons of and from any and all claims, damages or expenses of any nature whatsoever relating to or arising from their activities in this capacity.

 

 

 

 

 

 

(c) In the event that the Company shall be unable to appoint the committee referred to in paragraph (b) above after good faith efforts to do so, or in the event that such committee cannot reach a unanimous agreement, any remaining dispute, controversy or claim arising out of or relating to any provision of this Agreement or the Employee’s Termination upon a Change of Control shall be settled by arbitration in the City of Philadelphia, in accordance with the commercial arbitration rules then in effect of the American Arbitration Association, before a panel of three (3) arbitrators, two (2) of whom shall be selected by the Company and the Employee, respectively, and the third of whom shall be selected by the other two arbitrators. Each arbitrator selected as provided herein is required to be or have been a director or an executive officer of a corporation whose shares of common stock were listed during at least one year of such service on the New York Stock Exchange or the American Stock Exchange or quoted on the National Association of Securities Dealers Automated Quotations System. Any award entered by the arbitrators shall be entered thereon by any party in accordance with applicable law in any court of competent jurisdiction. This arbitration provision shall be specifically enforceable. The fees of the American Arbitration Association and the arbitrators and any expenses relating to the conduct of the arbitration shall be paid by the Company.

 

(d) The party or parties challenging the right of the Employee to the benefits of this Agreement shall in all circumstances have the burden of proof.

 

12. Term of Agreement. The term of this Agreement shall be for three (3) years from the date hereof and shall automatically be extended for additional one-year periods unless written notice of termination of this Agreement is provided to the Employee by the Company at least one year prior to the expiration of the initial three (3) year term or any one-year renewal period; provided, however, that (i) after a Change of Control during the term of this Agreement, this Agreement shall remain in effect for a period of two (2) years and until all of the obligations of the parties hereunder are satisfied or have expired, and (ii) this Agreement shall terminate if, prior to the Change of Control, the employment of the Employee with the Company or any of its Subsidiaries shall terminate for any reason whatsoever.

 

13. Successor Company. The Company shall require any Person who acquires the majority of the Common Stock of the Company or BMBC or any successor or successors thereof (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company or BMBC, by agreement, in form and substance satisfactory to the Employee, to acknowledge expressly, in writing, that this Agreement is binding upon and enforceable against the Company or BMBC or any successor or successors thereto in accordance with the terms hereof and the instrument of transfer, and to become jointly and severally obligated with the Company to perform this Agreement, in the same manner and to the same extent that the Company would be required to perform this Agreement if no such acquisition purchaser, merger consolidation, succession or successions had taken place. Failure of the Company to obtain such agreement prior to the effectiveness of any such succession shall be a breach of this Agreement. As used in this Agreement, the Company shall mean the Company as hereinbefore defined and any such successor or successors to its business and/or assets, jointly and severally.

 

 

 

 

 

 

14. Notice. All notices and other communications required or permitted hereunder or necessary or convenient in connection herewith shall be in writing and shall be delivered personally or mailed by registered or certified mail, return receipt requested, or by overnight express courier service, as follows:

 

If to the Company, to:

The Bryn Mawr Trust Company

801 Lancaster Avenue

Bryn Mawr, PA 19010

Attention: General Counsel

 

If to the Employee, to:

Michael W. Harrington

910 Bent Creek Drive

Lititz, Pa 17543 

 

or to such other names or addresses as the Company or the Employee, as the case may be, shall designate by notice to the other party hereto in the manner specified in this Section, or, in the case of Employee, to such other address listed as the residential address of Employee in the corporate records of the Company. Any such notice shall be deemed delivered and effective when received in the case of personal delivery, five (5) days after deposit, postage prepaid, with the U.S. Postal Service in the case of registered or certified mail, or on the next business day in the case of overnight express courier service.

 

15. Governing Law. This Agreement shall be governed by and interpreted under the laws of the Commonwealth of Pennsylvania without giving effect to any conflict of laws provisions that would apply the law of a different jurisdiction.

 

16. Contents of Agreement, Amendment and Assignment.

 

(a) This Agreement sets forth the entire understanding between the parties hereto and supersedes all prior and contemporaneous agreements with respect to the subject matter hereof, including, without limitation, the provisions of Section 9 of the employment letter agreement of even date herewith among the Company, BMBC and Employee (the “Employment Agreement”) as they would apply in the event of a Change of Control. For purposes of clarity, any payments made to Employee pursuant to the provisions of this Agreement shall be made instead of, and not in addition to, payments that would otherwise be made pursuant to Section 9 of the Employment Agreement. This Agreement cannot be changed, modified, extended or terminated except upon written amendment executed by the Employee and approved by the Board and executed on the Company’s behalf by a duly authorized officer. The provisions of this Agreement may provide for payments to the Employee under certain compensation or bonus plans (including without limitation the AIP and Stock Plan) under circumstances where such plans would not provide for payment thereof. It is the specific intention of the parties that the provisions of this Agreement shall supersede any provisions to the contrary in such plans, and such plans shall be deemed to have been amended to correspond with this Agreement without further action by the Company or the Boards of BMBC or the Company.

 

 

 

 

 

 

(b) Nothing in this Agreement shall be construed as giving the Employee any right to be retained in the employ of the Company.

 

(c) The Employee acknowledges that from time to time, the Company may establish, maintain and distribute employee manuals or handbooks or personnel policy manuals, and officers or other representatives of the Company may make written or oral statements relating to personnel policies and procedures. Such manuals, handbooks and statements are intended only for general guidance. No policies, procedures or statements of any nature by or on behalf of the Company (whether written or oral, and whether or not contained in any employee manual or handbook or personnel policy manual), and no acts or practices of any nature, shall be construed to modify this Agreement.

 

(d) All of the terms and provisions of this Agreement shall be binding upon and inure to the benefit of and be enforceable by the respective heirs, representatives, successors and assigns of the parties hereto, except that the duties and responsibilities of the Employee and the Company hereunder shall not be assignable in whole or in part by the Company.

 

17. Severability. If any provision of this Agreement or application thereof to anyone or under any circumstances shall be determined to be invalid or unenforceable, such invalidity or unenforceability shall not affect any other provisions or applications of this Agreement which can be given effect without the invalid or unenforceable provision or application.

 

18. Remedies Cumulative; No Waiver. No right conferred upon the Employee by this Agreement is intended to be exclusive of any other right or remedy, and each and every such right or remedy shall be cumulative and shall be in addition to any other right or remedy given hereunder or now or hereafter existing at law or in equity. No delay or omission by the Employee in exercising any right, remedy or power hereunder or existing at law or in equity shall be construed as a waiver thereof, including without limitation any delay by the Employee in delivering a Notice of Termination pursuant to Section 2 hereof after an event has occurred which would, if the Employee had resigned, have constituted a Termination upon a Change of Control pursuant to Section 1(n)(ii) of this Agreement.

 

19. Compliance with Section 409(A) of the Code. This Agreement is intended to comply with the provisions of Section 409A of the Code and shall be interpreted to be consistent with Section 409A of the Code.

  

20. Miscellaneous. All section headings in this Agreement are for convenience only. This Agreement may be executed in several counterparts, each of which is an original. It shall not be necessary in making proof of this Agreement or any counterpart hereof to produce or account for any of the other counterparts.

 

Signature Page Follows

  

 

 

 

 

  

IN WITNESS WHEREOF, the undersigned, intending to be legally bound, have executed this Agreement as of the date first above written.

  

	
 
	
THE BRYN MAWR TRUST COMPANY
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
By: 
	
/s/ Francis J. Leto
	
 

	
 
	
Name:
	
Francis J. Leto
	
 

	
 
	
Title:
	
President and Chief Executive Officer
	
 

 

	
 
	
EMPLOYEE:
	
 

	
 
	
 
	
 
	
 

	
 
	/s/ Michael W. Harrington	
 

	
 
	
Michael W. HarringtonExhibit

  SECOND AMENDMENT TO CREDIT AGREEMENT

This SECOND AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) is entered into as of July 2, 2015, by and among Ciena Corporation, a Delaware corporation (the “Borrower”), Ciena Communications, Inc., a Delaware corporation (“CCI”), Ciena Government Solutions, Inc., a Delaware corporation (“CGSI” and, together with the Borrower and CCI, collectively, the “Loan Parties”), Bank of America, N.A., as administrative agent (in such capacity, the “Administrative Agent”), and each of the Lenders (as defined in the Credit Agreement referred to below) party to the Credit Agreement (as defined below).  Capitalized terms used but not otherwise defined herein shall have the respective meanings ascribed to such terms in the Credit Agreement. 

RECITALS
WHEREAS, the Borrower, the Lenders from time to time party thereto, and the Administrative Agent are parties to that certain Credit Agreement, dated as of July 15, 2014 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), pursuant to which, among other things, the Lenders have agreed, subject to the terms and conditions set forth therein, to make certain loans and other financial accommodations to the Borrower;
WHEREAS, the Borrower has formed Neptune Acquisition Subsidiary, Inc., a Delaware corporation and a Wholly-Owned Domestic Subsidiary of the Borrower (“Merger Sub”) for the purpose of acquiring all of the outstanding Equity Interests of Cyan, Inc., a Delaware corporation (“Cyan”), pursuant to an Agreement and Plan of Merger, dated as of May 3, 2015, among the Borrower, Merger Sub and Cyan (the “Merger Agreement”);
WHEREAS, upon the consummation of the acquisition of all of the outstanding Equity Interests of Cyan as contemplated by the Merger Agreement (the “Acquisition”), Merger Sub shall merge with and into Cyan, with Cyan being the surviving entity, and immediately thereafter, Cyan shall merge with and into the Borrower, with the Borrower being the surviving entity; 
WHEREAS, the Borrower and the other Loan Parties have requested that the Lenders and the Administrative Agent make certain amendments to the Credit Agreement to permit the Acquisition; and
WHEREAS, the Administrative Agent and each Lender party hereto are willing to make such amendments to the Credit Agreement, on the terms, and subject to the conditions, set forth herein.
NOW, THEREFORE, in consideration of the foregoing, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:  
SECTION 1.  Amendments to Credit Agreement.  From and after the consummation of the Cyan Acquisition:
		
	(a)
	Section 1.01 of the Credit Agreement is hereby amended as follows: 

1.inserting in the appropriate alphabetical order the following new definitions:\

 ““Cyan” shall mean Cyan, Inc., a Delaware corporation.”
““Cyan Acquisition” shall mean the (i) acquisition by the Borrower of all the outstanding Equity Interests of Cyan pursuant to, and in accordance with, the terms of the Cyan Merger Agreement, pursuant to which Merger Sub shall merge with and into Cyan, with Cyan being the surviving entity, and (ii)  substantially simultaneous merger of Cyan with and into the Borrower, with the Borrower being the surviving entity.”
““Cyan Convertible Notes” shall mean the 8.00% senior secured convertible notes due December 15, 2019, issued by Cyan pursuant to the Cyan Indenture and assumed by the Borrower upon the consummation of the Cyan Acquisition.”

““Cyan Convertible Notes Documents” shall mean the Cyan Convertible Notes, the Cyan Pledge and Escrow Agreement and the Cyan Indenture, as supplemented by one or more supplemental indentures thereto, which after giving effect to any such supplemental indentures, the terms of the Cyan Indenture shall (i) not be materially more restrictive than the terms of the Cyan Indenture as in effect on the Second Amendment Effective Date assuming for purposes of this clause (i) the application of Section 4.14 of the Cyan Indenture has occurred as a result of a Fundamental Change (as such term is defined in the Cyan Indenture) described in clause (a) or (b) of the definition thereof (it being agreed that the Borrower’s guaranty of, or assumption of the obligations under, the Cyan Convertible Notes and the substitution of reference property for determination of any conversion amount are deemed not to be materially more restrictive) or (ii) otherwise be acceptable to the Administrative Agent in its reasonable discretion, pursuant to which, among other things, upon the consummation of Cyan Acquisition, the Borrower may guaranty the Cyan Convertible Notes (prior to the assumption of the obligations thereof by the Borrower promptly after the consummation of the Cyan Acquisition) and the Borrower will assume the obligations of Cyan as issuer thereunder as successor by merger (which shall occur promptly after the consummation of the Cyan Acquisition).”
““Cyan Indenture” shall mean the Indenture, dated as of December 12, 2014, between Cyan, as issuer, and U.S. Bank, National Association, as trustee, as supplemented by that certain First Supplemental Indenture, dated as of April 27, 2015, and as may be further amended, modified or supplemented from time to time in accordance with the terms hereof and thereof.”
““Cyan Merger Agreement” shall mean the Agreement and Plan of Merger dated as of May 3, 2015, among the Borrower, Merger Sub and Cyan, as amended, supplemented and otherwise modified from time to time.”
““Cyan Pledge and Escrow Agreement” shall mean the Pledge and Escrow Agreement, dated as of December 12, 2014, between Cyan and U.S. Bank, National Association, as collateral agent, as amended, modified or supplemented from time to time in accordance with the terms hereof and thereof.”
““Merger Sub” shall mean Neptune Acquisition Subsidiary, Inc., a Delaware corporation and Wholly-Owned Domestic Subsidiary of the Borrower.”
““Second Amendment Effective Date” shall mean July 2, 2015.”
		
	2.
	The last clause of the definition of “Asset Sale” is hereby amended to add the cross-reference to “and (q)” immediately after “and (p)”.

		
	3.
	Clause (iii) of the definition of “Change of Control” is hereby amended and replaced with the following text:

“(iii) during any period of 24 consecutive months, a majority of the members of the board of directors or other equivalent governing body of the Borrower cease to be composed of individuals (x) who were members of that board or equivalent governing body on the first day of such period, (y) whose election or nomination to that board or equivalent governing body was approved by individuals referred to in clause (x) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body or (z) whose election or nomination to that board or other equivalent governing body was approved by individuals referred to in clauses (x) and (y) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body”
		
	4.
	Clause (iv) of the definition of “Change of Control” is hereby amended by adding the words “, any Cyan Convertible Notes Documents (other than as a result of the Cyan Acquisition)” immediately after the words “any Permitted Convertible Notes Document”. 

		
	5.
	The definition of “Consolidated Net Senior Secured Indebtedness” is hereby amended by adding the following proviso immediately prior to the “.” at the end of the current definition as follows:

“; provided further that the Cyan Convertible Notes shall not be included in any determination of “Consolidated Net Senior Secured Indebtedness” so long as the only collateral that secures the obligations in respect of the Cyan Convertible Notes is the Pledged Collateral (as defined in the Cyan Pledge and Escrow Agreement (as in effect on the Second Amendment Effective Date and thereafter as amended, restated, supplemented or otherwise modified from time to time so long as such amendment, restatement, supplement or modification is not adverse to the interests of the Lenders in any material respect))  that has been deposited into the Escrow Account (as defined in the Cyan Pledge and Escrow Agreement) by Cyan prior to the consummation of the Cyan Acquisition (and any investment earnings thereon)”
		
	6.
	The definition of “Continuing Director” is hereby deleted in its entirety.

		
	7.
	The last sentence in the definition of “Dividend” is hereby amended to add “or the Cyan Convertible Notes” immediately after the words “Permitted Convertible Notes” in each of the two instances “Permitted Convertible Notes” is used in such sentence.

		
	8.
	The definition of “Equity Interests” is hereby amended to add “and any Cyan Convertible Notes” immediately after the words “for the avoidance of doubt, any Permitted Convertible Notes.”

		
	9.
	The first clause of the definition of “Permitted Acquisition” is hereby amended to add “, including indirectly by way of merger or amalgamation through a direct, Wholly-Owned Subsidiary of such Loan Party that merges or amalgamates with and into such Acquired Entity or Business and the surviving Person of such merger or amalgamation is a direct, Wholly-Owned Subsidiary of such Loan Party,” immediately after the words “by a Loan Party of an Acquired Entity or Business”.

		
	(b)
	Section 6.02(b) of the Credit Agreement is hereby amended as follows:

		
	1.
	by adding the text “following the consummation of the Cyan Acquisition, any Cyan Convertible Notes,” immediately after the text “any Qualified Preferred Stock,” in clause (b) (ii) thereof. 

		
	(c)
	Section 7.01 of the Credit Agreement is hereby amended as follows:

		
	1.
	deleting the text “and” at the end of clause (v) thereof; 

		
	2.
	deleting the “.” at the end of clause (w) thereof and inserting the text “; and” in lieu thereof;

		
	3.
	inserting the following new clause (x) immediately following clause (w) thereof:

“(x) from and after the consummation of the Cyan Acquisition, (i) Liens on the Pledged Collateral (as defined in the Cyan Pledge and Escrow Agreement as in effect on the Second Amendment Effective Date and thereafter as amended, restated, supplemented or otherwise modified from time to time so long as such amendment, restatement, supplement or modification is not adverse to the interests of the Lenders in any material respect) to secure the obligations of Cyan and the Borrower under the Cyan Convertible Notes Documents, the amount of which shall not exceed $12,033,333.33 plus any investment earnings and accrued interest on such Pledged Collateral; and (ii) to the extent constituting a Lien, (A) to the extent that the repurchase or redemption thereof is permitted by this Agreement, cash deposited with the trustee or any paying agent under the Cyan Convertible Notes Documents, or held in trust by the Borrower, to satisfy the obligation of the Borrower to repurchase or redeem all or a portion of the Cyan Convertible Notes in accordance with the terms of the Cyan Convertible 

Notes Documents following the consummation of the Cyan Acquisition, and (B) to the extent that the prepayment, repurchase or redemption thereof is permitted by this Agreement, cash deposited with the trustee or any paying agent under the applicable Indebtedness, or held in trust by the Borrower, in connection with the prepayment, repurchase or redemption of such Indebtedness..” 
		
	4.
	revising the text “clauses (b), (i), (j), (l), (m) and (u)” in the last paragraph of Section 7.01 to add the cross-reference “and (x)” immediately after “(u)”.

		
	(d)
	Section 7.02 of the Credit Agreement is hereby amended as follows:

		
	1.
	subclause (ii) of clause (e) thereof is hereby amended to add “or the Cyan Convertible Notes” immediately after the phrase “(other than obligations in respect of Permitted Convertible Notes” and before the close parenthesis.

		
	2.
	deleting the text “and” at the end of clause (p) thereof; 

		
	3.
	deleting the “.” at the end of clause (q) thereof and inserting the text “; and” in lieu thereof; and

		
	4.
	inserting the following new clause (r) immediately following clause (q) thereof:

“(r)    upon the consummation of the Cyan Acquisition, Indebtedness of Cyan and the Borrower under the Cyan Convertible Notes Documents (including any Guarantee by the Borrower thereunder).”
(e)    Section 7.03(s) of the Credit Agreement is hereby amended by inserting the following new clause (w)
                          immediately before clause (x) therein:

“(w) cash deposits to secure obligations described in Section 7.01(x),”

(f)    Section 7.04 of the Credit Agreement is hereby amended as follows:

		
	1.
	deleting the text “and” at the end of clause (b) thereof; 

		
	2.
	deleting the “.” at the end of clause (c) thereof and inserting the text “; and” in lieu thereof; and

		
	3.
	inserting the following new clause (d) immediately following clause (c) thereof:

“(d)    (i) Any merger or consolidation of an Acquired Entity or Business in accordance with the terms of the definition thereof pursuant to a Permitted Acquisition, and (ii) Investments may be made to the extent permitted by Section 7.03.”
(g)    Section 7.05 of the Credit Agreement is hereby amended as follows:

		
	1.
	deleting the text “and” at the end of clause (o) thereof; 

		
	2.
	deleting the “.” at the end of clause (p) thereof and inserting the text “; and” in lieu thereof; and

		
	3.
	inserting the following new clause (q) immediately following clause (p) thereof:

“(q)    Dispositions of property by Cyan (or the Borrower as successor by merger to Cyan) or any Subsidiary of Cyan to the Borrower or any Subsidiary of the Borrower; provided that the property which is the subject of any such Disposition is limited to property of Cyan and its Subsidiaries held immediately prior to the Cyan Acquisition.

(h)    Section 7.09 of the Credit Agreement is hereby amended as follows:

		
	1.
	clause (c)(iii) is hereby amended to add “, and the Cyan Indenture (as in effect on the Second Amendment Effective Date assuming for purposes of this clause (iii) the application of Section 4.14 of the Cyan Indenture has occurred as a result of a Fundamental Change (as such term is defined in the Cyan Indenture) described in clause (a) or (b) of the definition thereof and thereafter as amended, restated, supplemented or otherwise modified from time to time so long as such amendment, restatement, supplement or modification is not adverse to the interests of the Lenders in any material respect) and the other Cyan Convertible Notes Documents (as in effect on the Second Amendment Effective Date assuming for purposes of this clause (iii) the application of Section 4.14 of the Cyan Indenture has occurred as a result of a Fundamental Change (as such term is defined in the Cyan Indenture) described in clause (a) or (b) of the definition thereof and thereafter as amended, restated, supplemented or otherwise modified from time to time so long as such amendment, restatement, supplement or modification is not adverse to the interests of the Lenders in any material respect)” immediately following the words “and the other Permitted Convertible Notes Documents”.

		
	2.
	clause (c)(viii) is hereby amended to add the cross-reference “or (x)” immediately after “or (w)”.

(i)    Section 7.14 of the Credit Agreement is hereby amended as follows:

		
	1.
	The text “any Cyan Convertible Notes,” shall be added immediately prior to the text “any Permitted Convertible Note” located immediately after the second parenthetical in the introductory sentence to Section 7.14.

		
	2.
	adding the words “or any Cyan Convertible Notes” immediately after the words “any Permitted Convertible Notes” in clause (a) thereof;

		
	3.
	deleting the word “principal” in clause (b) thereof;

		
	4.
	inserting the text “any Cyan Convertible Notes (only with respect to subclause (x) below),” immediately prior to the text “any Permitted Convertible Notes” located in the introductory sentence of clause (d) thereof;

		
	5.
	deleting the word “solely” in clause (d)(x) thereof;

		
	6.
	deleting the text “and” at the end of clause (e) thereof;

		
	7.
	deleting the “.” at the end of clause (f) thereof and inserting the text “; and” in lieu thereof; and

		
	8.
	adding the words “or any Cyan Convertible Notes” immediately after the words “any Permitted Convertible Notes” in clause (f) thereof; and 

		
	9.
	inserting the following new clauses (g) immediately following clause (f) thereof:

“(g)    from and after the consummation of the Cyan Acquisition and so long as no Default or Event of Default then exists or would result therefrom, Cyan or the Borrower may make any payment or prepayment on, or redemption, repurchase or acquisition for value of, any Cyan Convertible Notes in accordance with the terms of the Cyan Convertible Notes Documents.”
(j)    Section 7.15 of the Credit Agreement is hereby amended as follows:

		
	1.
	adding “(i)” at the beginning of clause (a) thereof;

		
	2.
	adding the following language immediately at the end of clause (a) thereof:

“or (ii) amend, modify, change or waive any term or provision of any Cyan Convertible Notes Document in a manner which is adverse to the interests of the Lenders in any material respect (it being understood that any supplemental indenture described in the definition of Cyan Convertible Notes Documents shall be deemed to not be adverse to the interests of the Lenders in any material respect).”
		
	3.
	adding the text “and other than any Cyan Convertible Notes Document” immediately before the first parenthetical in the first sentence of clause (c) thereof.

(k)    Clause (c) of Section 9.10 is hereby amended to add the cross-reference “and Section 7.01(x)”
immediately at the end thereof.  

SECTION 2.    Reference To and Effect Upon the Credit Agreement.  
(a)     From and after the Second Amendment Effective Date (as defined below), (i) the term “Agreement” in the Credit Agreement, and all references to the Credit Agreement in any other Loan Document, shall mean the Credit Agreement as modified hereby, and (ii) this Amendment shall constitute a “Loan Document” for all purposes of the Credit Agreement and the other Loan Documents.
(b)     This Amendment is limited as specified and shall not constitute a modification, acceptance or waiver of any other provision of the Credit Agreement or any other Loan Document.
SECTION 3.    Confirmation of Guarantees and Security Interests.  By signing this Amendment, each Loan Party hereby confirms that (x) the obligations of the Loan Parties under the Credit Agreement as modified or supplemented hereby and the other Loan Documents (i) are entitled to the benefits of the guarantees and the security interests set forth or created in the Guaranty Agreement, Security Agreement, Pledge Agreement, Foreign Pledge Agreements and other Collateral Documents and the other Loan Documents, and (ii) constitute “Obligations” or such other similar term for purposes of the Credit Agreement, the Guaranty Agreement, Security Agreement, Pledge Agreement, Foreign Pledge Agreements, all other Collateral Documents and all other Loan Documents, and (y) notwithstanding the effectiveness of the terms hereof, the Guaranty Agreement, Security Agreement, Pledge Agreement, Foreign Pledge Agreements, the other Collateral Documents and the other Loan Documents are, and shall continue to be, in full force and effect and are hereby ratified and confirmed in all respects.  Each Loan Party ratifies and confirms that all Liens granted, conveyed, or assigned to the Administrative Agent by such Person pursuant to any Loan Document to which it is a party remain in full force and effect, are not released or reduced, and continue to secure full payment and performance of the Obligations.  Each Loan Party further ratifies and confirms that the priority of security and other terms of the Intercreditor Agreement remain in full force and effect, are not affected by this Amendment and continue to govern, among other things, the priority of the Collateral as between the Lenders party to the Credit Agreement and the lenders party to the ABL Credit Agreement. 
SECTION 4.    Representations and Warranties.  In order to induce the Administrative Agent and the undersigned Lenders to enter into this Amendment, each Loan Party hereby represents and warrants that:
(a)    As of the Second Amendment Effective Date, both immediately before and immediately after giving effect to this Amendment, (i) there exists no Default or Event of Default and (ii) all representations and warranties contained in the Credit Agreement and in the other Loan Documents are true and correct in all material respects with the same effect as though such representations and warranties had been made on the Second Amendment Effective Date (it being understood and agreed that (x) any representation or warranty which by its terms is made as of a specified date are required to be true and correct in all material respects only as of such specified date and (y) any representation or warranty that is qualified as to “materiality,” “Material Adverse Effect” or similar language are true and correct in all respects as of any such date).
(b)    Each Loan Party has all requisite corporate power and authority to execute, deliver and perform the terms and provisions of this Amendment and has taken all necessary corporate action to authorize the execution, 

delivery and performance by it of this Amendment.  Each Loan Party has duly executed and delivered this Amendment, and this Amendment constitutes its legal, valid and binding obligation enforceable in accordance with its terms, except to the extent that the enforceability thereof may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws generally affecting creditors’ rights and by equitable principles (regardless of whether enforcement is sought in equity or at law).
(c)    The execution, delivery and performance by each Loan Party of this Amendment do not and will not (i) contravene the terms of any of such Loan Party’s Organization Documents, (ii) conflict with or result in any breach or contravention of, or the creation of any Lien (other than Liens created under the Loan Documents) under, or require any payment to be made under (x) any material Contractual Obligation to which such Loan Party is a party or affecting such Loan Party or the properties of such Loan Party or any of its Subsidiaries or (y) any order, injunction, writ or decree of any Governmental Authority or any arbitral award to which such Loan Party or its property is subject, or (iii) violate any Law.
SECTION 5.    Counterparts, Etc.  This Amendment may be executed in any number of counterparts, each of which when so executed shall be deemed an original, but all such counterparts shall constitute one and the same instrument, and all signatures need not appear on any one counterpart. Any party hereto may execute and deliver a counterpart of this Amendment by delivering by facsimile or other electronic transmission a signature page of this Amendment signed by such party, and any such facsimile or other electronic signature shall be treated in all respects as having the same effect as an original signature.  Section headings in this Amendment are included herein for convenience of reference only and shall not constitute part of this Amendment for any other purpose.
SECTION 6.    Governing Law. This Amendment and the rights and obligations of the parties under this Amendment shall be governed by, and construed and interpreted in accordance with, the law of the State of New York.

SECTION 7.    Effectiveness.      In accordance with Section 10.01 of the Credit Agreement, this Amendment shall become effective at the time (the “Second Amendment Effective Date”) when each of the following conditions has been satisfied:
(a)    the Administrative Agent shall have received duly executed signature pages for this Amendment signed by the Loan Parties, the Required Lenders and the Administrative Agent;
(b)    the Administrative Agent (or its applicable Affiliate) shall have received: (i) a consent fee for the account of each Lender that consents to this Amendment by executing and delivering this Amendment to the Administrative Agent appropriately completed on or prior to 12:00 noon, Eastern time, on June 30, 2015, in an amount equal to 0.05% of the sum of such Lender’s outstanding Loans under the Credit Agreement and (ii) all fees and reasonable out-of-pocket expenses required to be paid to the Administrative Agent (or any of its Affiliates) in connection with this Amendment in accordance with Section 10.04 of the Credit Agreement or as otherwise agreed with the Administrative Agent; 
(c)    the Borrower shall have delivered to the Administrative Agent a certificate executed by a Responsible Officer of the Borrower, certifying as to compliance with the requirements of Section 4(a) of this Amendment; 
(d)     the Borrower shall have delivered to the Administrative Agent an executed copy of the Fifth Amendment to Credit Agreement, dated as of July, 2015, between the Borrower, the Administrative Agent (as defined in the ABL Credit Agreement) and the other parties thereto, which shall be effective substantially contemporaneously herewith; and
(e)     the Borrower shall have paid all reasonable fees, charges and disbursements of counsel to the Administrative Agent (or any of its Affiliates) to the extent invoiced on or prior to the date hereof. 

The Administrative Agent shall provide prompt written notice of the occurrence of the Second Amendment Effective Date to the Lenders.
[Signature Pages to follow]

IN WITNESS WHEREOF, this Amendment has been duly executed by the parties hereto as of the date first written above. 

	
		
	LOAN PARTIES:  
	CIENA CORPORATION

	 
	

By:  /s/ Elizabeth A. Dolce                              
      Name:  Elizabeth A. Dolce
      Title:  Vice President and Treasurer

	
		
	 
	CIENA COMMUNICTAIONS, INC.

	 
	

By:  /s/ Elizabeth A. Dolce                              
      Name:  Elizabeth A. Dolce
      Title:  Vice President and Treasurer

	
		
	 
	CIENA GOVERNMENT SOLUTIONS, INC.

	 
	

By:  /s/ Elizabeth A. Dolce                              
      Name:  Elizabeth A. Dolce
      Title:  Vice President and Treasurer

	
		
	 
	BANK OF AMERICA, N.A.,
as Administrative Agent

	 
	

By:  /s/ Priscilla Baker                             
      Name:  Priscilla Baker
      Title:  AVP

	
		
	 
	West CLO 2014-1 Ltd.
as Lender

	 
	

By:  /s/ Joanna Willars                        
      Name: Joanna Willars
      Title: Vice President, Authorized Signatory

	
		
	 
	West CLO 2014-2 Ltd.
as Lender

	 
	

By:  /s/ Joanna Willars                        
      Name: Joanna Willars
      Title: Vice President, Analysis

	
		
	 
	Arrowpoint CLO 2013-1, LTD,
as a Lender

	 
	

By:  /s/ Joanna Willars                        
      Name:  Derek Mullins
      Title: Director of Operations

	
		
	 
	Arrowpoint CLO 2013-1, LTD,
as a Lender

	 
	

By:  /s/ Joanna Willars                        
      Name:  Derek Mullins
      Title: Director of Operations

	
		
	 
	Arrowpoint CLO 2014-2, LTD,
as a Lender

	 
	 

	 
	

By: /s/ Derek Mullins                                               
      Name: Derek Mullins
      Title:  Director of Operations

	
		
	 
	Arrowpoint CLO 2014-3, LTD,
as a Lender

	
		
	 
	

By: /s/ Derek Mullins                                               
      Name: Derek Mullins
      Title:  Director of Operations

	 
	 

	
		
	 
	Arrowpoint CLO 2015-4, LTD,
as a Lender

	
		
	 
	

By: /s/ Derek Mullins                                             
      Name: Derek Mullins
      Title:  Director of Operations

	
		
	 
	CFIP CLO 2013-1 Ltd.,
as a Lender

By:  Chicago  Fundamental Investment Partners, LLC as Collateral Manager for CFIP CLO 2013-1, Ltd.,

	
		
	 
	

By: /s/ David C. Dieffenbacher                                
      Name: David C. Dieffenbacher
Title:  Principal & Portfolio Manager

	
		
	 
	CFIP CLO 2014-1 Ltd.,
as a Lender

By:  Chicago  Fundamental Investment Partners, LLC as Collateral Manager for CFIP CLO 2014-1, Ltd.,

	
		
	 
	

By: /s/ David C. Dieffenbacher                                
      Name: David C. Dieffenbacher
Title:  Principal & Portfolio Manager

	
		
	 
	CIFC Funding 2007-III, Ltd.
as a Lender
BY:  CIFC Asset Management LLC, its Collateral Manager

	
		
	 
	

By: /s/ Robert Ranocchia                                         
      Name: Robert Ranocchia
Title:  Authorized Signatory

	
		
	 
	CIFC Funding 2014-II, Ltd.
as a Lender
By:  CIFC Asset Management LLC, its Collateral Manager

	
		
	 
	

By: /s/ Robert Ranocchia                                         
      Name: Robert Ranocchia
Title:  Authorized Signatory

	
		
	 
	CIFC Funding 2014-III, Ltd.
as a Lender
By:  CIFC Asset Management LLC, its Collateral Manager

	
		
	 
	

By: /s/ Robert Ranocchia                                         
      Name: Robert Ranocchia
Title:  Authorized Signatory

	
		
	 
	ColumbusNova CLO IV Ltd. 2007-II
as a Lender
By:  Columbus Nova Credit Investments Management, LLC, its Collateral Manager

	
		
	 
	

By: /s/ Robert Ranocchia                                         
      Name: Robert Ranocchia
Title:  Authorized Signatory

	
		
	 
	Primus CLO II, Ltd.
as a Lender
By:  CypressTree Investment Management, LLC,  its Collateral Manager

	
		
	 
	

By: /s/ Robert Ranocchia                                         
      Name: Robert Ranocchia
Title:  Authorized Signatory

	
		
	 
	ATRIUM VII
as a Lender
By:  Credit Suisse Asset Management LLC, as Portfolio Manager

	
		
	 
	

By: /s/ Thomas Flannery                                         
      Name: Thomas Flannery
Title:  Authorized Signatory

	
		
	 
	ATRIUM VIII
as a Lender
By:  Credit Suisse Asset Management LLC, as Portfolio Manager

	
		
	 
	

By: /s/ Thomas Flannery                                         
      Name: Thomas Flannery
Title:  Authorized Signatory

	
		
	 
	MADISON PARK FUNDING VIII, LTD.
as a Lender
By:  Credit Suisse Asset Management LLC, as Portfolio Manager

	
		
	 
	

By: /s/ Thomas Flannery                                         
      Name: Thomas Flannery
Title:  Authorized Signatory

	
		
	 
	MADISON PARK FUNDING XIV, LTD.
as a Lender
By:  Credit Suisse Asset Management LLC, as Portfolio Manager

	
		
	 
	

By: /s/ Thomas Flannery                                         
      Name: Thomas Flannery
Title:  Authorized Signatory

	
		
	 
	THE EATON CORPORATION MASTER
RETIREMENT TRUST
as a Lender
By:  Credit Suisse Asset Management LLC, as investment manager

	
		
	 
	

By: /s/ Thomas Flannery                                         
      Name: Thomas Flannery
Title:  Authorized Signatory

	
		
	 
	Flagship VII Limited
as a Lender
By: Deutsche Investment Management Americas Inc., As Investment Manager

	
		
	 
	By: /s/ Paula Penkal                                                 
      Name: Paula Penkal
      Title:  Director

By:  /s/ Eric Meyer                                                   
      Name:  Eric Meyer
      Title:  Portfolio Manager

	
		
	 
	Mt. Whitney Securities Inc.
as a Lender
By: Deutsche Investment Management Americas Inc., As Manager

	
		
	 
	By: /s/ Paula Penkal                                                 
      Name: Paula Penkal
      Title:  Director

By:  /s/ Eric Meyer                                                   
      Name:  Eric Meyer
      Title:  Portfolio Manager

	
		
	 
	Bridgeport CLO II Ltd.
as a Lender
By: Deutsche Capital Management LLC, as Collateral Manager

	
		
	 
	

By: /s/ Robert Ranocchia                                             
      Name: Robert Ranocchia
      Title:  Authorized Signatory

	
		
	 
	Nomura Global Manager Select - Bank Loan Fund
as a Lender
By: Deutsche Investment Management Americas Inc., As Investment Sub-Advisor

	
		
	 
	By: /s/ Paula Penkal                                                 
      Name: Paula Penkal
      Title:  Director

By:  /s/ Eric Meyer                                                   
      Name:  Eric Meyer
      Title:  Portfolio Manager

	
		
	 
	Aspen Bermuda Limited
as a Lender
By: Deutsche Investment Management Americas Inc., Manager

	
		
	 
	By: /s/ Paula Penkal                                                 
      Name: Paula Penkal
      Title:  Director

By:  /s/ Eric Meyer                                                   
      Name:  Eric Meyer
      Title:  Portfolio Manager

	
		
	 
	Health Net Community Solutions, Inc.
as a Lender
By: Deutsche Investment Management Americas Inc. As Manager

	
		
	 
	By: /s/ Paula Penkal                                                 
      Name: Paula Penkal
      Title:  Director

By:  /s/ Eric Meyer                                                   
      Name:  Eric Meyer
      Title:  Portfolio Manager

	
		
	 
	Health Net of California, Inc.
as a Lender
By: Deutsche Investment Management Americas Inc., As Manager

	
		
	 
	By: /s/ Paula Penkal                                                 
      Name: Paula Penkal
      Title:  Director

By:  /s/ Eric Meyer                                                   
      Name:  Eric Meyer
      Title:  Portfolio Manager

	
		
	 
	Eaton Vance Bank Loan Fund Series II
A Series Trust of Multi Manager Global Investment
Trust
By: Eaton Vance Management as Investment Advisor, as a Lender

	
		
	 
	By: /s/ Michael B. Botthof                                                
      Name: Michael B. Botthof
      Title:  Vice President

	
		
	 
	Eaton Vance Bank CDO VIII, Ltd.

By: Eaton Vance Management as Investment Advisor, as a Lender

	
		
	 
	By: /s/ Michael B. Botthof                                                
      Name: Michael B. Botthof
      Title:  Vice President

	
		
	 
	Eaton Vance Bank CDO 2014-1, Ltd.

By: Eaton Vance Management Portfolio Manager, as a Lender

	
		
	 
	By: /s/ Michael B. Botthof                                                
      Name: Michael B. Botthof
      Title:  Vice President

	
		
	 
	Eaton Vance Institutional Senior Loan Fund

By: Eaton Vance Management as Investment Advisor, as a Lender

	
		
	 
	By: /s/ Michael B. Botthof                                                
      Name: Michael B. Botthof
      Title:  Vice President

	
		
	 
	Eaton Vance \Vt Floating-Rate Income Fund

By: Eaton Vance Management as Investment Advisor, as a Lender

	
		
	 
	By: /s/ Michael B. Botthof                                                
      Name: Michael B. Botthof
      Title:  Vice President

	
		
	 
	Florida Power & Light Company

By: Eaton Vance Management as Investment Advisor, as a Lender

	
		
	 
	By: /s/ Michael B. Botthof                                                
      Name: Michael B. Botthof
      Title:  Vice President

	
		
	 
	Google, Inc.

By: Eaton Vance Management as Investment Advisor, as a Lender

	
		
	 
	By: /s/ Michael B. Botthof                                                
      Name: Michael B. Botthof
      Title:  Vice President

	
		
	 
	Blue Shield of California, 
as a Lender

	
		
	 
	By: /s/ David Ardini                                              
      Name: David Ardini
      Title:  Asst. Vice President

	
		
	 
	Guggenheim Stategy Funds Trust - Guggeneheim Variable Insurance Strategy Fund III
as a Lender
By: Guggenheim Partners Investment Management, LLC as Investment Manager

	
		
	 
	By: /s/ Katilin Trinh                                            
      Name: Kaitlin Trinh
      Title:  Managing Director

	
		
	 
	HI-PF-BUL-SFonds
as a Lender
By: Guggenheim Partners Investment Management, LLC as Asset Manager

	
		
	 
	By: /s/ Katilin Trinh                                            
      Name: Kaitlin Trinh
      Title:  Managing Director

	
		
	 
	Swiss Capital Pro Loan III Plc
as a Lender
By: For and on behalf of BNY Mellon Trust Company (Ireland) Limited under Power of Attorney

	
		
	 
	By: /s/ Katilin Trinh                                            
      Name: Kaitlin Trinh
      Title:  Managing Director

	
		
	 
	Guggenheim Loan Master Fund, Ltd
as a Lender
By: Guggenheim Partners Investment Management, LLC as Manager

	
		
	 
	By: /s/ Katilin Trinh                                            
      Name: Kaitlin Trinh
      Title:  Managing Director

	
		
	 
	Sonoma County Employees' Retirement Association
as a Lender
By: Guggenheim Partners Investment Management, LLC as Investment Manager

	
		
	 
	By: /s/ Katilin Trinh                                            
      Name: Kaitlin Trinh
      Title:  Managing Director

	
		
	 
	Zilux Senior Loan Fund
as a Lender
By: Guggenheim Partners Investment Management, LLC as Investment Manager

	
		
	 
	By: /s/ Katilin Trinh                                            
      Name: Kaitlin Trinh
      Title:  Managing Director

	
		
	 
	J.P. Morgan Whitefriars, Inc.
as a Lender

	
		
	 
	By: /s/ Jeffrey Panzo                                             
      Name: Jeffrey Panzo
      Title:  Attorney-in-Fact

	
		
	 
	Katonah 2007-I CLO Ltd.
as a Lender

	
		
	 
	By: /s/ Daniel Gilligan                                          
      Name: Daniel Gilligan
      Title:  Authorized Signatory

	
		
	 
	KVK CLO 2013-1, Ltd.
as a Lender

	
		
	 
	By: /s/ William Harned                                         
      Name: William Harned
      Title:  Assistant Vice President

	
		
	 
	KVK CLO 2014-1, Ltd.
as a Lender

	
		
	 
	By: /s/ William Harned                                         
      Name: William Harned
      Title:  Assistant Vice President

	
		
	 
	KVK CLO 2014-2, Ltd.
as a Lender

	
		
	 
	By: /s/ William Harned                                         
      Name: William Harned
      Title:  Assistant Vice President

	
		
	 
	LANDMARK VIII CLO LTD
as a Lender
BY:  Landmark Funds LLC, as Manager

	
		
	 
	By: /s/ James Bragg                                       
      Name: James Bragg
      Title:  Designated Signatory

	
		
	 
	LOOMIS SAYLES CREDIT OPPORTUNITIES FUND,
As Lender

By:  Loomis, Sayles &  Company, L.P.
        the Investment Manager of the Fund

By:  Loomis, Sayles & Company, Incorporated,
        the General Partner of
        Loomis, Sayles & Company, L.P.

	
		
	 
	By: /s/ Mary McCarthy                                       
      Name: Mary McCarthy
      Title: Vice President

	
		
	 
	LOOMIS SAYLES SENIOR FLOATING RATE LOAN FUND,
As Lender

By:  Loomis, Sayles & Company, L.P.
        Its Investment Manager 

By:  Loomis, Sayles & Company, Incorporated,
        Its General Partner 
 

	
		
	 
	By: /s/ Mary McCarthy                                       
      Name: Mary McCarthy
      Title: Vice President

	
		
	 
	SEARS CANADA INC. REGISTERED
RETIREMENT PLAN,
As Lender

By:  Loomis, Sayles & Company, L.P.
        Its Investment Manager 

By:  Loomis, Sayles & Company, Incorporated,
        Its General Partner 
 

	
		
	 
	By: /s/ Mary McCarthy                                       
      Name: Mary McCarthy
      Title: Vice President

	
		
	 
	THE LOOMIS SAYLES
SENIOR LOAN FUND, LLC
As Lender

By:  Loomis, Sayles & Company, L.P.
        Its Managing Member

By:  Loomis, Sayles & Company, Incorporated,
        Its General Partner 
 

	
		
	 
	By: /s/ Mary McCarthy                                       
      Name: Mary McCarthy
      Title: Vice President

	
		
	 
	MetLife Insurance Company USA
as a Lender

	
		
	 
	By: /s/ Steven R. Bruno                                      
      Name: Steven R. Bruno
      Title: Director

	
		
	 
	Metropolitan Life Insurance Company
as a Lender

	
		
	 
	By: /s/ Steven R. Bruno                                      
      Name: Steven R. Bruno
      Title: Director

	
		
	 
	MidOcean Credit CLO III
as a Lender

By:  MidOcean CreditFund Management LP, as Portfolio Manager

By: Ultramar Credit Holdings Ltd., its General 
Partner
 

	
		
	 
	By: /s/ Michael Apfel                                      
      Name: Michael Apfel
      Title: Managing Director

	
		
	 
	Venture X CLO, Limited
as a Lender
BY:  its investment advisor, MJX Management,
LLC

 

	
		
	 
	By: /s/ Michael G. Regan                                      
      Name: Michael Regan
      Title: Managing Director

	
		
	 
	Venture XI CLO, Limited
as a Lender
BY:  its investment advisor, MJX Management,
LLC

 

	
		
	 
	By: /s/ Michael G. Regan                                      
      Name: Michael Regan
      Title: Managing Director

	
		
	 
	Venture XII CLO, Limited
as a Lender
BY:  its investment advisor
MJX Asset Management LLC

 

	
		
	 
	By: /s/ Michael G. Regan                                      
      Name: Michael Regan
      Title: Managing Director

	
		
	 
	Venture XIII CLO, Limited
as a Lender
BY:  its Investment Advisor
MJX Asset Management LLC

 

	
		
	 
	By: /s/ Michael G. Regan                                      
      Name: Michael Regan
      Title: Managing Director

	
		
	 
	Venture XIV CLO, Limited
as a Lender
BY:  its investment advisor
MJX Asset Management LLC

 

	
		
	 
	By: /s/ Michael G. Regan                                      
      Name: Michael Regan
      Title: Managing Director

	
		
	 
	Venture XV CLO, Limited
as a Lender
By:  its investment advisor
MJX Asset Management LLC

 

	
		
	 
	By: /s/ Michael G. Regan                                      
      Name: Michael Regan
      Title: Managing Director

	
		
	 
	Venture XVI CLO, Limited
as a Lender
BY:  its investment advisor
MJX Asset Management LLC

 

	
		
	 
	By: /s/ Michael G. Regan                                      
      Name: Michael Regan
      Title: Managing Director

	
		
	 
	Venture XVII CLO, Limited
as a Lender
BY:  its investment advisor, MJX Asset Management, LLC

 

	
		
	 
	By: /s/ Michael G. Regan                                      
      Name: Michael Regan
      Title: Managing Director

	
		
	 
	Venture XVIII CLO, Limited
as a Lender
BY:  its investment advisor
MJX Asset Management LLC

 

	
		
	 
	By: /s/ Michael G. Regan                                      
      Name: Michael Regan
      Title: Managing Director

	
		
	 
	OCTAGON INVESTMENT PARTNERS XI, LTD.
By:  Octagon Credit Investors, LLC
        as Collateral Manager

HAMLET II, LTD.
By:  Octagon Credit Investors, LLC
        as Portfolio Manager

as a Lender

 

	
		
	 
	By: /s/ Margaret B. Harvey                                   
      Name: Margaret B. Harvey
      Title: Managing Director of Portfolio Administration

	
		
	 
	TRALEE CLO II, LTD
as a Lender
BY:   Par-Four Investment Management, LLC
as Collateral Manager

 

	
		
	 
	By: /s/ Dennis Gorczyca                                         
      Name: Dennis Gorczyca
      Title: Managing Director

	
		
	 
	Pioneer Floating Rate Fund
Pioneer Short Term Income Fund,
     Each as a Lender

By: Pioneer Investment Management, Inc.,
       As investment adviser to each Lender above

 

	
		
	 
	By: /s/ Margaret C. Begley                                  
      Name: Margaret C. Beyley
      Title: Secretary and Associate General Counsel

	
		
	 
	Ascension Alpha Fund, LLC
Ascension Health Master Pension Trust
     Each as a Lender

By: Pioneer Institutional Asset Management, Inc.,
       As investment adviser to each Lender above

 

	
		
	 
	By: /s/ Margaret C. Begley                                  
      Name: Margaret C. Beyley
      Title: Secretary and Associate General Counsel

	
		
	 
	Avery Point IV CLO, Limited
as a Lender
BY: Sankaty Advisors, LLC, as Portfolio Manager

 

	
		
	 
	By: /s/ Andrew Viens                                           
      Name: Andrew Viens
      Title: Sr. Vice President of Operations

	
		
	 
	Race Point IX CLO, Limited
as a Lender
BY: Sankaty Advisors, LLC, as Portfolio Manager

 

	
		
	 
	By: /s/ Andrew Viens                                           
      Name: Andrew Viens
      Title: Document Control Team

	
		
	 
	Race Point V CLO, Limited
as a Lender
BY: Sankaty Advisors, LLC, as Portfolio Manager

 

	
		
	 
	By: /s/ Andrew S. Viens                                           
      Name: Andrew S. Viens
      Title: Sr. Vice President of Operations

	
		
	 
	Race Point VIII CLO, Limited
as a Lender
BY: Sankaty Advisors, LLC, as Portfolio Manager

 

	
		
	 
	By: /s/ Andrew Viens                                           
      Name: Andrew Viens
      Title: Sr. Vice President of Operations

	
		
	 
	Mountain View CLO 2014-1 Ltd.
By:  Seix Investment Advisors LLC, as Collateral Manager

as Lender

 

	
		
	 
	By: /s/ George Goudelias                                         
      Name: George Goudelias
      Title: Managing Director

	
		
	 
	Slater Mill Loan Fund, LP
as a Lender

BY: SHENKMAN CAPITAL MANAGEMENT, INC.,
as Collateral Manager
 

	
		
	 
	By: /s/ Justin Slatky                                          
      Name: Justin Slatky
      Title:  Senior Vice President

	
		
	 
	John Hancock Funds II Short Duration Credit
Opportunities Fund
as a Lender

 

	
		
	 
	By: /s/ Adam Shapiro                                        
      Name: Adam Shapiro
      Title: General Counsel

	
		
	 
	San Joaquin County Employees' Retirement
Association
as a Lender

 

	
		
	 
	By: /s/ Adam Shapiro                                         
      Name: Adam Shapiro
      Title: General Counsel

	
		
	 
	Stone Harbor Collective Investment Trust- Stone
Harbor Bank Loan Collective Fund
as a Lender

 

	
		
	 
	By: /s/ Adam Shapiro                                         
      Name: Adam Shapiro
      Title: General Counsel

	
		
	 
	Stone Harbor Global Funds PLC - Stone Harbor
Leveraged Loan Portfolio
as a Lender

 

	
		
	 
	By: /s/ Adam Shapiro                                         
      Name: Adam Shapiro
      Title: General Counsel

	
		
	 
	Stone Harbor Leveraged Loan Fund LLC
as a Lender

 

	
		
	 
	By: /s/ Adam Shapiro                                         
      Name: Adam Shapiro
      Title: General Counsel

	
		
	 
	Nelder Grove CLO, Ltd.
By:  Tall Tree Investment Management, LLC
as Collateral Manager,
as a Lender

 

	
		
	 
	By: /s/ Brian Buscher                                      
      Name: Brian Buscher
      Title: Officer

	
		
	 
	Tuolumne Grove CLO, Ltd.
By:  Tall Tree Investment Management, LLC
as Collateral Manager, 
as a Lender

 

	
		
	 
	By: /s/ Brian Buscher                                     
      Name: Brian Buscher
      Title: Officer

	
		
	 
	TELOS CLO 2013-4, Ltd.

as a Lender

By:  Telos Asset Management, LLC
 

	
		
	 
	By: /s/ Jonathan Tepper                                         
      Name: Jonathan Tepper
      Title: Managing Director

	
		
	 
	TELOS CLO 2013-3, Ltd.

as a Lender

By:  Telos Asset Management, LLC
 

	
		
	 
	By: /s/ Jonathan Tepper                                         
      Name: Jonathan Tepper
      Title: Managing Director

	
		
	 
	TELOS CLO 2014-6, Ltd.

as a Lender

By:  Telos Asset Management, LLC
 

	
		
	 
	By: /s/ Jonathan Tepper                                         
      Name: Jonathan Tepper
      Title: Managing Director

	
		
	 
	THL Credit Wind River 2014-2 CLO Ltd.
as a Lender
By:  THL Credit Senior Loan Strategies LLC, as
Manager
 

	
		
	 
	By: /s/ Kathleen Zarn                                        
      Name: Kathleen Zarn
      Title: Managing Director

	
		
	 
	Catamaran CLO 2014-2, Ltd.
as a Lender

    
 

	
		
	 
	By: /s/ Daniel Gilligan                                       
      Name: Daniel Gilligan
      Title:  Authorized Signatory

	
		
	 
	Doral CLO II Ltd.,
as a Lender

 

	
		
	 
	By: /s/ Gibran Mahmud                                         
      Name: Gibran Mahmud
      Title: Chief Investment Officer
      Triumph Capital Adviors, LLC
      As Asset Manager

	
		
	 
	Trinitas CLO I, Ltd., 
as a Lender

 

	
		
	 
	By: /s/ Gibran Mahmud                                         
      Name: Gibran Mahmud
      Title: Chief Investment Officer
      Triumph Capital Adviors, LLC
      As Asset Manager

	
		
	 
	Trinitas CLO II, Ltd., 
as a Lender

 

	
		
	 
	By: /s/ Gibran Mahmud                                         
      Name: Gibran Mahmud
      Title: Chief Investment Officer
      Triumph Capital Adviors, LLC
      As Asset Manager

	
		
	 
	Ocean Trails CLO V 
as a Lender
BY:  West Gate Horizons Advisors LLC, as Asset
Manager
 

	
		
	 
	By: /s/ Ryan White                                              
      Name: Ryan White
      Title: Senior Credit Analyst
 

	
		
	 
	ZAIS CLO I, Limited,
as a Lender

 

	
		
	 
	By: /s/ Vincent M. Ingato                                  
      Name: Vincent M. Ingato
      Title: Managing Director

	
		
	 
	ZAIS CLO 2, Limited,
as a Lender

 

	
		
	 
	By: /s/ Vincent M. Ingato                                  
      Name: Vincent M. Ingato
      Title: Managing Director

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00249-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00249-of-00352.parquet"}]]