Document:

EXHIBIT 4.5

 

EXECUTION VERSION

 

Olden Lane Trust Series
7

 

Series MSA Supplement

 

Dated
as of: June 27, 2017

 

This Series Master
Services Agreement Supplement (the “Series MSA Supplement”) relating to Olden Lane Trust Series 7 (“Series 7
of Trust”) among the Trust, Olden Lane Securities LLC, as Depositor, Olden Lane Advisors LLC, as Evaluator and Supervisor,
and The Bank of New York Mellon, as Custodian, Transfer Agent and Administrator, sets forth certain provisions in full and incorporates
other provisions by reference to the document entitled “Master Services Agreement For Olden Lane Trust, Effective for Unit
Investment Trusts Investing in Equity Securities, Debt Securities and/or Derivative Transactions Established On and After November
19, 2015” (the “Master Services Agreement”) and such provisions as are set forth in full and such provisions
as are incorporated by reference constitute a single instrument.

 

Witnesseth That:

 

In consideration of
the premises and of the mutual agreements herein contained, the Trust, the Depositor, the Custodian, the Transfer Agent, the Administrator,
the Evaluator and the Supervisor agree with respect to the Series 7 of Trust as follows:

 

PART I

Master Services Agreement

 

The Trust hereby appoints
Olden Lane Securities LLC, as Depositor, Olden Lane Advisors LLC, as Evaluator and Supervisor and The Bank of New York Mellon as
Custodian, Transfer Agent and Administrator of the Series 7 of Trust, and by their execution and delivery hereof, Olden Lane Securities
LLC, Olden Lane Advisors LLC and The Bank of New York Mellon accept their respective appointments.

 

Subject to the provisions
of Part II hereof, all the provisions contained in the Master Services Agreement are herein incorporated by reference in their
entirety and shall be deemed to be a part of this instrument as fully and to the same extent as though said provisions had been
set forth in full in this instrument. In the event of any inconsistency between the provisions of this Series MSA Supplement and
the provisions of the Master Services Agreement, the Series MSA Supplement will prevail. All capitalized terms used and not otherwise
defined herein shall have the meaning ascribed to them in the Master Services Agreement.

 

PART II

Special Terms and Conditions of Olden Lane Trust Series 7

 

The Series 7 of Trust
specifies the following special terms and conditions:

 

1.           
The Securities for the Series 7 of Trust listed in Part 1 of Schedule A hereto have
been deposited with the Custodian by the Depositor or its designee. Listed in Part 2 of Schedule A are Contract Securities; the
Depositor or its designee will deliver to the Custodian the Securities represented by such Contract Securities as provided in the
Master Services Agreement.

 

2.           
The aggregate number of Units for the Series 7 of Trust described in Section 2.03(a) of the Master Services Agreement shall
be that number of Units set forth under “Statement of Financial Condition—Number of Units” in the Prospectus
for the Series 7 of Trust.

 

     

     

    

 

3.            
The undivided beneficial interest in and ownership of the Series 7 of Trust represented by each Unit thereof is a fractional
amount, the numerator of which is one and the denominator of which shall be the amount set forth under “Statement of Financial
Condition—Number of Units” in the Prospectus for the Series 7 of Trust.

 

4.            
For each Security, the Underlying Asset to Unit Ratio for the Series 7 of Trust shall be equal to the ratio of (i) the “Aggregate
Principal Amount” in respect of such Securities set forth under “Trust Portfolio—Portfolio Composition”
in the Prospectus for Series 7 of Trust to (ii) the number of Units for Series 7 of Trust set forth under “Statement of Financial
Condition—Number of Units” in the Prospectus for the Series 7 of Trust. 

 

5.            
The term “Record Dates” shall mean the “Record Dates” set forth under “Essential Information”
in the Prospectus for the Series 7 of Trust.

 

6.            
The term “Distribution Dates” shall mean the “Distribution Dates” set forth under “Essential
Information” in the Prospectus for the Series 7 of Trust.

 

7.            
 There shall be no “Deferred Sales Charge” or “Deferred Sales Charge Payment Dates.”

 

8.            
The term “Business Day” shall be as defined in the Master Services Agreement.

 

9.            
The term “Trading Day” shall mean a Business Day that is also a “trading day” as set forth
in footnote no. 2 under the section entitled “Essential Information” in the Prospectus for the Series 7 of Trust.

 

10.          
The term “Mandatory Termination Date” shall mean the “Termination Date” set forth under “Essential
Information” in the Prospectus for the Series 7 of Trust, subject to postponement as described in the Prospectus for the
Series 7 of Trust.

 

11.         
The Series 7 of Trust shall elect to be a Regulated Investment Company and, if required, the Depositor shall, on behalf
of the Series 7 of Trust, make such filings necessary to make such election.

 

12.          
The Depositor’s, Evaluator’s and Supervisor’s annual compensation shall be the amount set forth under
“Fee Table” in the Prospectus for the Series 7 of Trust.

 

13.          
The aggregate of the Custodian’s, the Transfer Agent’s and the Administrator’s annual compensation shall
be the amount set forth under “Fee Table” in the Prospectus for the Series 7 of Trust, with an aggregate minimum of
$10,000 per annum.

 

14.          
The term “Initial Date of Deposit” for the Series 7 of Trust shall be the date of this Series MSA Supplement.

 

15.          
The term “Organizational Expense Period” for the Series 7 of Trust shall mean the period ending on the
earlier of (i) the expiration of the initial offering period set forth in the Prospectus or (ii) the 180th day after
the Initial Deposit Date.

 

16.          
No Unitholder will be eligible for an In-Kind Distribution of Securities pursuant to Section 6.02 of the Master Services
Agreement.

 

17.          
Section 6.04 of the Master Services Agreement (“Rollover of Units”) shall not apply to the Series 7 of Trust.

 

18.          
The “Creation and Development Fee” shall be the amount set forth under “Fee Table” in the
Prospectus for the Series 7 of Trust.

 

19.          
The Depositor and Evaluator represent that the Evaluator’s determination of the value of each Security as of the Initial
Date of Deposit shall be set forth under “Trust Portfolio—Portfolio Composition” in the Prospectus for Series
7 of Trust, incorporated herein by reference.

 

    -2- 

     

    

 

20.         
The Depositor may direct the dissolution of the Series 7 of Trust if due to (x) any action taken by a governmental body,
or brought in court, or (y) a change in law (including tax law) or in the application or official interpretation of any law), there
is or there is a substantial likelihood that the Series 7 of Trust will be prohibited in any material way from pursuing its principal
investment strategy in the same manner and economic terms as on the inception date.

 

21.         
The Series 7 of Trust is a Derivatives Trust Series, and the following sections will apply:

 

		(i)	A form of the relevant Derivative Agreement(s) is attached hereto as Schedule B.

 

		(ii)	The Depositor shall cause the Series 7 of Trust to enter into each Derivative Transaction set forth
under “Trust Portfolio—Portfolio Composition” in the Prospectus for Series 7 of Trust and shall endorse and deliver
each related Derivative Agreement concurrently with the execution of this Series MSA Supplement and cause a copy of each such Derivative
Agreement to be annexed under Schedule B

 

		(iii)	The Depositor and Evaluator represent that the Evaluator’s determination of the value of
each Derivative Transaction as of the Initial Date of Deposit shall be set forth under “Trust Portfolio—Portfolio Composition”
in the Prospectus for Series 7 of Trust, incorporated herein by reference.

 

		(iv)	For each Derivative Transaction, the Underlying Asset to Unit Ratio is equal to the ratio of (i)
the “Number of Options Contracts” in respect of such Derivative Transactions set forth under “Trust Portfolio—Portfolio
Composition” in the Prospectus for Series 7 of Trust to (ii) the number of Units for Series 7 of Trust set forth under “Statement
of Financial Condition—Number of Units” in the Prospectus for the Series 7 of Trust. 

 

		(v)	The term “Derivative Counterparty” shall mean the Options Clearing Corporation
(the “OCC”) and the relevant member of the OCC set forth in the relevant Derivatives Agreement.

 

		(vi)	For the Series 7 of Trust, Section 3.05 of the Master Services Agreement shall not apply.

 

		(vii)	As provided in Section 5.01 of the Master Services Agreement (“Evaluation of Securities”),
the following provisions shall govern the evaluation of Derivative Transactions entered into on behalf of the Series 7 of Trust:
(a) In respect of Derivative Transactions, the Evaluator shall determine the Evaluation based upon the last quoted prices for the
Derivative Transactions where readily available and appropriate as determined by the Evaluator. In cases where the Derivative Transactions
were not traded on the valuation date or where the Evaluator determines that market quotations are unavailable or inappropriate
(e.g. due to infrequent transactions, thin trading or otherwise), the Evaluator shall determine the Evaluation of the Derivatives
Transactions based on the last asked price (if the Series 7 of Trust is “short” the relevant Derivative Transaction)
or bid price (if the Series 7 of Trust is “long” the relevant derivative Transaction) provided by dealers active in
market-making of securities similar to the Derivatives Transactions in the over-the-counter market, if available and appropriate.
If market quotes, ask prices and bid prices are unavailable or inappropriate, the Evaluator shall determine the Evaluation based
on the Evaluator’s good faith determination of the fair value of the Derivatives Transactions at its reasonable discretion.
To determine the fair value of the Derivatives Transactions, where and if available, the Evaluator may use values generated using
third party valuation services. The Evaluator may also generate its own model-based Evaluations of the Derivatives Transactions,
including using the Black-Scholes model for option valuation and using current market quotations and ask/bid prices for comparable
Derivatives Transactions that are more actively traded.

 

(b) During the
initial offering period set forth in the Prospectus, the Evaluation of Derivative Transactions shall be made (i) when the Series
7 of Trust is “long” the relevant Derivative Transactions, on the basis of the ask side of the market and (ii) when
the Series 7 of Trust is “short” the relevant Derivative Transactions, on the basis of the bid side of the market.
Upon expiration of

 

    -3- 

     

    

 

the initial offering period set forth in the Prospectus, the Evaluation of Derivative Transactions shall be
made (i) when the Series 7 of Trust is “long” the relevant Derivative Transactions, on the basis of the bid side of
the market and (ii) when the Series 7 of Trust is “short” the relevant Derivative Transactions, on the basis of the
ask side of the market.

 

22.         
For the Series 7 of Trust, The following provisions shall modify and supplement the Master Services Agreement:

 

		(i)	Section 3.20(a) is modified to add the following sentence prior to the last sentence of such paragraph:

 

With the prior consent of the Custodian, the Depositor
is authorized to engage a broker qualified to act as a custodian for assets of the Series pursuant to Rule 17f-4 under the 1940
Act to maintain custody of, and act as clearing broker with respect to transactions involving, options and other instruments cleared
through the Options Clearing Corporation of which the Custodian is unable to maintain custody. The clearing broker shall be identified
in the Derivative Agreement attached to the Series MSA Supplement.

 

		(ii)	Section 3.18 is modified to add the following at the end thereof:

 

The Depositor is authorized to take such actions and
make such elections as the Depositor determines to be desirable to maintain the qualification of the Series of Trust as a regulated
investment company and to reduce taxes paid by the Series of Trust notwithstanding that such actions or elections may increase
the taxable income or gain reportable by Unitholders or may adversely affect the investment performance of the Series of Trust.
The Depositor shall not be liable to any Unitholder or other Person for any such action taken or election made, or the failure
to take any such action or make any such election, determined by the Depositor in good faith.

 

		(iii)	Section 3.06 (a) is modified to add the following sentences at the end thereof:

 

“If the
cash balances of the Series Income Account and Series Capital Account are insufficient to pay the expenses of the Series of Trust,
the Depositor shall sell or liquidate Securities or Derivative Transactions in an amount sufficient for the payment of such expenses,
provided, however, that the Depositor is authorized, but has no obligation, to assume any of the expenses otherwise payable by
the Series of Trust and in such event shall pay the expense directly or provide funds to the Custodian for such payment. 
The Depositor shall provide the Custodian written notice of the expenses to be assumed and their amount, and such assumption shall
be reflected in the Trust Series Evaluation commencing with the first Trust Series Evaluation following the Custodian’s
receipt of such notice. With respect to the foregoing sentence and solely for the Series 7 of Trust, the Depositor hereby notifies
the Custodian that it assumes all expenses of the Series 7 of Trust in excess of (i) the aggregate fees of the Custodian, Transfer
Agent and Administrator (other than the excess of the $10,000 minimum annual fee over the annual compensation accrued at the per
Unit rate set forth in the Prospectus which excess the Depositor assumes) and (ii) $2.20 per 100 Units of other administrative
expenses.”

 

		(iv)	The first sentence of Section 3.06 (b)(i) is modified to read in its entirety as follows:

 

“On each
Distribution Date, the Transfer Agent shall distribute to each Unitholder of record at the close of business on the preceding Record
Date an amount per Unit equal to such Unitholder’s Income Distribution (as defined below in paragraph (c) of this Section
3.06), plus such Unitholder’s pro rata share of such part, or all, of the balance of the Series Capital Account (computed
as provided below in paragraph (d) of this Section 3.06) as the Depositor shall determine, taking into account, among other things,
cash needed for payment of future trust expenses, except that, notwithstanding any provisions herein to the contrary, (x) with
respect to any Series of Trust which is a widely held fixed investment trust as defined in Treas. Reg. Section 1.671-5(b)(22),
the Transfer Agent shall, on

 

    -4- 

     

    

 

any Distribution Date, distribute the cash available for distribution in the Series Income and Series
Capital Accounts within the meaning of Treas. Reg. Section 1.671-5(b)(5) if the aggregate amount of such cash available for distribution
is equal to or greater than .1% of the net asset value of such Series of Trust on the related Record Date and (y) with respect
to any Series of Trust which has elected to qualify as a “regulated investment company,” the Transfer Agent shall make
such distributions from the Series Income and Series Capital Accounts as may be necessary, as determined and communicated to the
Transfer Agent by that Series of Trust’s independent accountants engaged by the Depositor pursuant to Section 7.03,
in order to avoid the imposition of any income or excise taxes on undistributed income in that Series of Trust.”

 

		(v)	Section 3.14 is modified to add the following sentence as the last sentence of the first paragraph
thereof:

 

“Each of
the Evaluator, Supervisor or Depositor may waive any portion of the compensation otherwise payable to it by written notice to the
Custodian. Any such waiver shall be irrevocable and shall be reflected in the Trust Series Evaluation commencing with the
first Trust Series Evaluation following the Custodian’s receipt of such notice.”

 

This Series MSA Supplement
shall be deemed effective when executed and delivered by the Trust, the Depositor, the Custodian, the Transfer Agent, the Administrator,
the Evaluator and the Supervisor. Facsimile or electronic signatures (including signatures in Portable Document Format (PDF)) to
this Series MSA Supplement shall be acceptable and binding, and this Series MSA Supplement may be delivered by facsimile or other
electronic means (including by electronic mail or a designated document storage website).

 

[SIGNATURE PAGE FOLLOWS]

 

    -5- 

     

    

 

In
Witness Whereof, the undersigned have caused this Series MSA Supplement to be executed; all as of the day, month and year
first above written.

	 	 	 
	 	Olden Lane Trust Series 7,
	 	 	a Delaware Statutory Trust
	 	 	 
	 	 	By: Olden Lane Securities LLC,
	 	 	 	 	as Depositor
	 	 	 
	 	 	By:	 	/s/ Michel Serieyssol
	 	 	 	 	Michel Serieyssol
	 	 	 	 	CEO
	 	 	 
	 	Olden Lane Securities LLC,
	 	 	as Depositor
	 	 	 
	 	 	By:	/s/ Michel Serieyssol
	 	 	 	Michel Serieyssol
	 	 	 	CEO
	 	 	 
	 	Olden Lane Advisors LLC,
	 	 	as Evaluator and Supervisor
	 	 	 
	 	 	By:	  /s/ Michel Serieyssol
	 	 	 	Michel Serieyssol
	 	 	 	CEO
	 	 	 
	 	THE BANK OF NEW YORK MELLON,
	 	 	as Custodian, Transfer Agent and Administrator
	 	 	 
	 	 	By:	  /s/ Gerardo Cipriano
	 	 	 	Gerardo Cipriano
	 	 	 	Vice President

 

Series MSA Supplement – Signature
Page

 

     

     

    

 

Schedule
A to Series MSA Supplement

 

Securities
Initially Deposited

 

in

 

Olden
Lane Trust Series 7

 

Part
1

 

Securities
Delivered to the Custodian on The initial Date of Deposit

 

Part
2

 

Contract
Securities

 

Incorporated herein by this reference
and made a part hereof is the “Trust Portfolio—Portfolio Composition” in schedule as set forth in the Prospectus
for Series 7 of Trust.

 

     

     

    

 

Schedule
B to Series MSA Supplement

Form of Derivative Agreement 

 

     

     

    

 

		  V.	OPTION
                                         AGREEMENT

 

Meaning of terms in the Agreement: “Client”
refers to the person(s) who signed this Option Agreement and Approval Form. “Pershing” refers to Pershing LLC. “Financial
Organization” refers to the broker, bank, or other financial organization that has introduced my (our) account to Pershing.
The word “you” refers to Pershing and/or the Financial Organization, as appropriate. 1. The Client acknowledges receipt
of the notice pursuant to Financial Industry Regulatory Authority (FINRA) Rule 4311(d), which explains the contractual relationship
between Pershing and the Financial Organization. The Client understands that this notice also appears on each of the Client’s
account statements. The Client understands that the Financial Organization is not acting as the agent of Pershing. The Client understands
that Pershing merely accepts from the Financial Organization orders for the purchase and sale of securities and instructions relating
to other property in the Client’s account and that Pershing is not in a position, nor undertakes any responsibility, to give
advice, make suitability determinations, supervise, or oversee the Financial Organization’s handling of the responsibilities
undertaken by the Financial Organization pursuant to any agreement the Client may have with the Financial Organization.

 

2. The Client understands and is well aware that
option trading may be highly speculative in nature. The Client is also aware that on certain days, option trading may cease and
this could result in a financial loss to the Client. The Client agrees to hold you harmless for such loss.

 

3. The Client recognizes that by writing or selling
an option contract (such as a call, put, or straddle) without depositing the underlying security, the Client’s risk of loss
is potentially unlimited. The Client agrees to honor all assignments and to deliver the underlying security or the required funds
in the prescribed time to you, and upon the Client’s failure to do so in the proper time, you are hereby authorized to act
as agent for the Client and to buy in, or, sell out such securities at the current market price or otherwise act to properly margin
or complete the Client’s obligation. The Client agrees to pay you a commission and fee for such service and to reimburse
you for any loss incurred in connection therewith, and you are authorized to debit the Client’s account for all such amounts.

 

4. The Client agrees that the Client is responsible
for making all final decisions as to transactions effected in any account of the Client at your firm. The Client understands that
each order the Client enters (to buy or to sell) must be complete as to security, quantity, price, and duration of the order.

 

5. The Client is willing and able to assume the
financial risks and hazards of option trading, and the Client agrees that the Client will in no way hold Pershing responsible for
such losses whether incurred through following the Financial Organization’s trading recommendations or suggestions offered
to the Client in good faith by the Financial Organization or through the Client’s own decisions however arrived at by the
Client.

 

6. The Client understands that any Option Transaction
made for any account of the Client is subject to the rules, regulations, customs, and usages of The Options Clearing Corporation
(OCC) and of the registered national securities exchange, national securities association, clearing organization, or market where
such transaction was executed. The Client agrees to abide by such rules, regulations, and usages and the Client agrees that, acting
individually or in concert with others, the Client will not exceed any applicable position or exercise limits imposed by such exchange,
association, clearing organization, or other market with respect to option trading.

 

7. If the Client does not satisfy, on a timely basis,
your money or security calls, you are authorized in your sole discretion, and without notification, to take any and all steps you
deem necessary to protect yourself (for any reason) in connection with options transactions for the Client’s account, including
the right to buy and/or sell (including short or short exempt) for the Client’s account and risk any part or all of the shares
represented by options handled, purchased, sold, and/or endorsed by you for the Client’s account or to buy for the Client’s
account and risk any option as you may deem necessary or appropriate. Any and all expenses or losses incurred in this connection
will be reimbursed by the Client.

 

8. The Client bears full responsibility for taking
action to exercise an option contract; provided, however, that with respect to certain expiring options, you are authorized to
permit exercise by exception to take place automatically pursuant to the rules of the OCC as in effect from time to time unless
the Client specifically advises you to the contrary in writing. This procedure affects options that are in the money by a predetermined
amount as set forth in the rules of the OCC. Additional information regarding this procedure is available upon your written request.

 

9. In addition to the terms and conditions hereof,
the Client’s options account will be subject to all of the terms and conditions of all other agreements heretofore or hereafter
at any time entered into with you relating to the purchase and sale of securities except to the extent that such other agreements
are contrary to or inconsistent herewith.

 

10. This agreement shall apply to all puts or calls
that you may have executed, purchased, sold, or handled for any account of the Client and also shall apply to all puts or calls
that you may hereafter purchase, sell, handle, or execute for any account of the Client.

 

11. The Client agrees to advise the Financial Organization
of any changes in the Client’s financial situation or investment objective insofar as the Client deems such changes material
to the Client’s options transactions.

 

12. The Client has received from the Financial Organization
the most recent Options Disclosure Document and Definitive Supplement. The Client has read and understands the information contained
in these documents.

 

13. The Client understands that you assign exercise
notices on a random basis. The Client understands that upon the Client’s request, you will provide the Client with further
information regarding the procedure used to assign exercise notices. The random selection method utilized by Pershing is automated
in so far as a random four-digit number is manually entered into a system, which uses an algorithm detailed below to derive the
allocation of the assignment. A report is then generated listing the accounts to be assigned and the number of contracts assigned
per affected account. In the event that a manual assignment allocation must be performed due to a system failure, the manual allocation
follows the same logic as the automated method.

	 	 
	©2011
        Pershing LLC. Pershing LLC, member FINRA, NYSE, SIPC, is a subsidiary of

The
Bank of New York Mellon Corporation. Trademark(s) belong to their respective owners

	PAGE
                                         2 OF 3
 FRM-OPT-AGR-10-11 

 

     

     

    

 

14. ARBITRATION DISCLOSURES:

 

THIS AGREEMENT CONTAINS A PREDISPUTE
ARBITRATION CLAUSE. BY SIGNING AN ARBITRATION AGREEMENT THE PARTIES AGREE AS FOLLOWS:

 

		■	ALL PARTIES TO THIS AGREEMENT ARE GIVING UP THE RIGHT TO SUE EACH OTHER IN COURT, INCLUDING THE RIGHT TO A TRIAL BY JURY,
EXCEPT AS PROVIDED BY THE RULES OF THE ARBITRATION FORUM IN WHICH A CLAIM IS FILED.

 

		■	ARBITRATION AWARDS ARE GENERALLY FINAL AND BINDING; A PARTY’S ABILITY TO HAVE A COURT REVERSE OR MODIFY AN ARBITRATION
AWARD IS VERY LIMITED.

 

		■	THE ABILITY OF THE PARTIES TO OBTAIN DOCUMENTS, WITNESS STATEMENTS, AND OTHER DISCOVERY IS GENERALLY MORE LIMITED IN ARBITRATION
THAN IN COURT PROCEEDINGS.

 

		■	THE ARBITRATORS DO NOT HAVE TO EXPLAIN THE REASON(S) FOR THEIR AWARD, UNLESS, IN AN ELIGIBLE CASE, A JOINT REQUEST FOR AN
EXPLAINED DECISION HAS BEEN SUBMITTED BY ALL PARTIES TO THE PANEL AT LEAST 20 DAYS PRIOR TO THE FIRST SCHEDULED HEARING DATE.

 

		■	THE PANEL OF ARBITRATORS WILL TYPICALLY INCLUDE A MINORITY OF ARBITRATORS WHO WERE OR ARE AFFILIATED WITH THE SECURITIES
INDUSTRY.

 

		■	THE RULES OF SOME ARBITRATION FORUMS MAY IMPOSE TIME LIMITS FOR BRINGING A CLAIM IN ARBITRATION. IN SOME CASES,
A CLAIM THAT IS INELIGIBLE FOR ARBITRATION MAY BE BROUGHT IN COURT.

 

		■	THE RULES OF THE ARBITRATION FORUM IN WHICH THE CLAIM IS FILED, AND ANY AMENDMENTS THERETO, SHALL BE INCORPORATED INTO THIS
AGREEMENT.

 

15. ARBITRATION AGREEMENT:

 

ANY CONTROVERSY BETWEEN YOU AND US
SHALL BE SUBMITTED TO ARBITRATION BEFORE FINRA.

 

NO PERSON SHALL BRING A PUTATIVE OR CERTIFIED CLASS ACTION TO ARBITRATION, NOR
SEEK TO ENFORCE ANY PREDISPUTE ARBITRATION AGREEMENT AGAINST ANY PERSON WHO HAS INITIATED IN COURT A PUTATIVE CLASS ACTION; OR
WHO IS A MEMBER OF A PUTATIVE CLASS WHO HAS NOT OPTED OUT OF THE CLASS WITH RESPECT TO ANY CLAIMS ENCOMPASSED BY THE PUTATIVE CLASS
ACTION UNTIL; (I) THE CLASS CERTIFICATION IS DENIED; (II) THE CLASS IS DECERTIFIED; OR (III) THE CUSTOMER IS EXCLUDED FROM THE
CLASS BY THE COURT. SUCH FORBEARANCE TO ENFORCE AN AGREEMENT TO ARBITRATE SHALL NOT CONSTITUTE A WAIVER OF ANY RIGHTS UNDER THIS
AGREEMENT EXCEPT TO THE EXTENT STATED HEREIN.

 

THE LAWS OF THE STATE OF NEW YORK GOVERN.

	 	 
	©2011
        Pershing LLC. Pershing LLC, member FINRA, NYSE, SIPC, is a subsidiary of

The
Bank of New York Mellon Corporation. Trademark(s) belong to their respective owners

	PAGE
                                         3 OF 3
 FRM-OPT-AGR-10-11 

 

     

     

    

 

	CMTA
    / CLEARING INFO - Pershing 443	CLIENT
    ONLY INFO
	SYMBOL	BUY/SELL	QUANTITY	PRICE	PRINCIPAL	FEES	TRANS.
    NET AMT.	TRADE
    DATE	STLMNT
    DATE	Commission
    for Client at Month End
	2SPY
    12/23/2020 C 12.16	BUY	6	213.8300	128,298.00	$0.26	$	128,298.26	06/26/2017	06/27/2017	$	15.00
	2SPY
    12/23/2020 C 243.29	BUY	2	28.2700	5,654.00	$0.09	$	5,654.09	06/26/2017	06/27/2017	$	5.00
	2SPY
    12/23/2020 P 243.29	BUY	6	30.5600	18,336.00	$0.26	$	18,336.26	06/26/2017	06/27/2017	$	15.00
	2SPY
    12/23/2020 P 206.8	SELL	6	16.5000	9,900.00	$0.48	$	9,899.52	06/26/2017	06/27/2017	$	15.00
	2SPY
    12/23/2020 C 279.88	SELL	8	12.9900	10,392.00	$0.57	$	10,391.43	06/26/2017	06/27/2017	$	8.00EX-10.1

 Exhibit 10.1 

PURCHASE AGREEMENT 
 This
PURCHASE AGREEMENT (this “Agreement”) is entered into as of June 21, 2017 by and between Taylor Morrison Home Corporation, a Delaware corporation (the “Company”) and each of the parties identified on Schedule I
hereto (each a “Seller” and collectively, the “Sellers”). 
 Background 

A.    Each Seller desires to sell to the Company, at the price and upon the terms and conditions set forth in this
Agreement, the number of common units (the “Common Units”) of TMM Holdings II Limited Partnership, a limited partnership formed under the laws of the Cayman Islands (the “Partnership”), and a corresponding number of
shares of the Company’s Class B common stock, $0.00001 par value per share (the “Class B Common Stock”) set forth opposite such Seller’s name on Schedule I hereto (each such Common Unit together
with its corresponding share of Class B Common Stock to be sold by such Seller, a “Purchased Interest” of such Seller); 

B.    The Company desires to purchase each Seller’s Purchased Interests at the price and upon the terms and
conditions set forth in this Agreement (the “Purchases”); 
 C.     The Company is conducting a public
offering (the “Public Offering”) of shares of its Class A common stock (the “Underwritten Shares”) pursuant to an Underwriting Agreement, dated June 21, 2017 (the “Underwriting
Agreement”); 
 D.    The Company intends to use the proceeds received from the Public Offering to complete the
Purchases. 
 E.    The board of directors of the Company has approved the transactions contemplated by this Agreement
for purposes of Rule 16b-3 under the Securities Exchange Act of 1934 (the “Exchange Act”), which approval is intended to exempt each disposition by each Seller of its respective Purchased
Interests to the extent that it or any person affiliated with it may be deemed an officer or director of the Company, including a “director by deputization,” from Section 16(b) of the Exchange Act. 

THEREFORE, in consideration of the mutual covenants herein and other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the undersigned hereby agree as follows: 
 Agreement 

1.    Purchase. 

(a)    At the Closing (as defined below), subject to the satisfaction of the conditions and to the terms set forth in
paragraphs l(b) and l(c) below, each Seller, severally and not jointly, hereby agrees to transfer, assign, sell, convey and 

 
deliver to the Company 100% of its right, title and interest in and to such Seller’s Purchased Interests, and the Company hereby agrees to purchase such Purchased Interests at a purchase
price per Purchased Interest equal to the per share price at which the Company sells the Underwritten Shares to the underwriters in the Public Offering (the “Per Share Purchase Price”). 

(b)    The obligations of the Company to purchase the Purchased Interests from any Seller shall be subject to (i) the
closing of the Public Offering, (ii) the representations and warranties of such Seller being true and correct in all material respects as of the Closing and (iii) such Seller having complied in all material respects with all of the
covenants required to be performed by such Seller on or prior to the Closing. 
 (c)    The closing of the sale of the
Purchased Securities (the “Closing”) shall take place immediately following the closing of the Public Offering, at the offices of the Company, or at such other time and place as may be agreed upon by the Company and the Sellers.

 (d)    At the Closing, each Seller shall deliver to the Company or as instructed by the Company duly executed
transfer powers relating to such Seller’s Purchased Interests and the Company agrees to deliver to such Seller the Applicable Purchase Price by wire transfer of immediately available funds to the account(s) specified in writing by such Seller.
“Applicable Purchase Price” means, with respect to any Seller, the product of the Per Share Purchase Price and the aggregate number of Purchased Interests being sold by such Seller pursuant to the terms of this Agreement. 

(e)    Neither the Company nor any of its affiliates intends to withhold any amounts payable pursuant to this Agreement
pursuant to Section 1445 of the Internal Revenue Code of 1986, as amended (the “Code”). If the Internal Revenue Service issues a Notice of Proposed Adjustment (or similar Notice) that the Company was required to withhold
and remit tax under Section 1445 of the Code on the proceeds payable to a Seller pursuant to this Agreement, then at the Company’s request, such Seller shall use commercially reasonable efforts to provide within 30 days evidence (intended
to be sufficient to satisfy the requirements of United States Treasury Regulations Section 1.1445-1(e)(3)) that such Seller has filed all federal income tax returns required to be filed by such Seller
(and paid all federal income tax shown as due from such Seller on such returns) with respect to the Purchase from such Seller pursuant to this Agreement; provided, however, at the election of such Seller, such Seller may provide any such evidence
directly to the Internal Revenue Service and not to the Company or any other third-party. 
 2.    Company
Representations. In connection with the transactions contemplated hereby, the Company represents and warrants as of the date hereof to the Sellers that: 

  
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 (a)    The Company is a corporation duly organized and validly existing under
the laws of the State of Delaware. The Company has the requisite corporate power and authority to execute, deliver and perform its obligations under this Agreement and to consummate the transactions contemplated hereby. 

(b)    This Agreement has been duly authorized, executed and delivered by the Company and constitutes a valid and binding
agreement of the Company enforceable in accordance with its terms, except to the extent that enforcement thereof may be limited by bankruptcy, insolvency, reorganization or other laws affecting enforcement of creditors’ rights or by general
equitable principles. 
 (c)    The execution, delivery and performance by the Company of this Agreement and the
consummation of the transactions herein contemplated will not (i) conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under any indenture, mortgage, deed of trust, loan agreement or
other agreement or instrument to which the Company or any of its subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any of the property or assets of the Company or any of its subsidiaries is subject,
(ii) violate any provision of the certificate of incorporation or by-laws, or other organizational documents, as applicable, of the Company or its subsidiaries or (iii) violate any statute or any
order, rule or regulation of any court or governmental agency or body having jurisdiction over the Company or any of its subsidiaries or any of their properties, in the case of each such clause, after giving effect to any consents, approvals,
authorizations, orders, registrations, qualifications, waivers and amendments as will have been obtained or made as of the date of this Agreement, and except, in the case of clauses (i) and (ii), as would not reasonably be expected to have a
material adverse effect on (A) the business, operations, results of operations, properties, assets or condition (financial or otherwise) of the Company, the Partnership and its subsidiaries, taken as a whole, or (B) the ability of the
Company to consummate the transactions contemplated by this Agreement (a “Material Adverse Effect”); and no consent, approval, authorization, order, registration or qualification of or with any such court or governmental agency or
body is required for the execution, delivery and performance by the Company of its obligations under this Agreement, including the consummation by the Company of the transactions contemplated by this Agreement, except where the failure to obtain or
make any such consent, approval, authorization, order, registration or qualification would not reasonably be expected to have a Material Adverse Effect. 

3.    Representations of the Sellers. In connection with the transactions contemplated hereby, each of the Sellers,
severally and not jointly, represents and warrants to the Company as of the date hereof and covenants and agrees that: 

(a)    Such Seller is duly organized and existing under the laws of its jurisdiction of organization. 

(b)    All consents, approvals, authorizations and orders necessary for the execution and delivery by such Seller of this
Agreement and for the sale and delivery of the Purchased Interests to be sold by such Seller hereunder, have been 

  
 3 

 
obtained; and such Seller has full right, power and authority to enter into this Agreement and to sell, assign, transfer and deliver the Purchased Interests to be sold by such Seller hereunder,
except for such consents, approvals, authorizations and orders as would not impair in any material respect the consummation of such Seller’s obligations hereunder. 

(c)    This Agreement has been duly executed and delivered by such Seller and constitutes a valid and binding agreement of
such Seller, enforceable in accordance with its terms, except to the extent that enforcement thereof may be limited by bankruptcy, insolvency, reorganization or other laws affecting enforcement of creditors’ rights or by general equitable
principles. 
 (d)    The sale of the Purchased Interests to be sold by such Seller hereunder and the compliance by such
Seller with all of the provisions of this Agreement and the consummation of the transactions contemplated herein (i) does not and will not conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a
default under, any statute, indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which such Seller is a party or by which such Seller is bound or to which any of the property or assets of such Seller is subject as
of the date hereof, (ii) nor will such action result in any violation of the provisions of any organizational or similar documents pursuant to which such Seller was formed (to the extent such Seller is not an individual) or any statute or any
order, rule or regulation of any court or governmental agency or body having jurisdiction over such Seller or the property of such Seller; except in the case of clause (i) or clause (ii), for such conflicts, breaches, violations or defaults as
would not impair in any material respect the consummation of such Seller’s obligations hereunder. 
 (e)    As of
the date hereof and immediately prior to the delivery of the Purchased Interests to the Company at the Closing, such Seller holds good and valid title to the Purchased Interests to be sold at the Closing or a securities entitlement in respect
thereof, and holds, and will hold until delivered to the Company, such Purchased Interests free and clear of all liens, encumbrances, equities or claims; and, upon delivery of such Purchased Interests (including by crediting to a securities account
of the Company) and payment therefor pursuant hereto, assuming that the Company has no notice of any adverse claims within the meaning of Section 8-105 of the New York Uniform Commercial Code as in effect
in the State of New York from time to time (the “UCC”), (A) under 8-501 of the UCC, the Company will acquire a valid security entitlement (within the meaning of
Section 8-102(a)(17) of the UCC) to such Purchased Interests purchased by the Company and (B) no action (whether framed in conversion, replevin, constructive trust, equitable lien or other theory)
based on an adverse claim (within the meaning of Section 8-105 of the UCC) to such security entitlement may be asserted against the Company. 

(f)    Such Seller (either alone or together with its advisors) has such knowledge and experience in financial or business
matters that it is capable of evaluating the merits and risks of the Purchases. Such Seller has had the opportunity to ask questions and receive answers concerning the terms and conditions of the Purchases, and has had full access to such other
information concerning the Purchases as it has 

  
 4 

 
requested. Such Seller has received all information that it believes is necessary or appropriate in connection with the Purchases. Such Seller is an informed and sophisticated party and has
engaged, to the extent such Seller deems appropriate, expert advisors experienced in the evaluation of transactions of the type contemplated hereby. Such Seller acknowledges that such Seller has not relied upon any express or implied representations
or warranties of any nature made by or on behalf of the Company, whether or not any such representations, warranties or statements were made in writing or orally, except as expressly set forth for the benefit of such Seller in this Agreement. 

4.    Termination. This Agreement shall automatically terminate and be of no further force and effect in the event
that the conditions in paragraph 1(b) of this Agreement have not been satisfied on or prior to June 27, 2017. 

5.    Notices. All notices, demands or other communications to be given or delivered under or by reason of the
provisions of this Agreement will be in writing and will be deemed to have been given when delivered personally, mailed by certified or registered mail, return receipt requested and postage prepaid, or sent via a nationally recognized overnight
courier, or sent via facsimile to the recipient. Such notices, demands and other communications will be sent to the address indicated below: 

To the Sellers: 
 At the address
listed for each Seller on Schedule I hereto. 
 To the Company: 

Taylor Morrison Home Corporation 

4900 North Scottsdale Road, Suite 2000 

Scottsdale, AZ 85251 
 Attention:
        Darrell C. Sherman, Esq. 
 Executive Vice President, Chief Legal Officer and Secretary 

Facsimile:        (866) 390-2612 

E-mail:dsherman@taylormorrison.com 

with a copy to (which shall not constitute notice): 

Paul, Weiss, Rifkind, Wharton & Garrison LLP 

1285 Avenue of the Americas 
 New
York, NY 10019-6064 
 Attention:        John C. Kennedy 

Facsimile:       (212) 757-3990 

E-mail:            jkennedy@paulweiss.com

 or such other address or to the attention of such other person as the recipient party shall have specified by prior written notice to the sending party.

  
 5 

 6.     Miscellaneous. 

(a)    Survival of Representations and Warranties. All representations and warranties contained herein or made in
writing by any party in connection herewith shall survive the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby. 

(b)    Severability. Whenever possible, each provision of this Agreement will be interpreted in such manner as to
be effective and valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal, or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality, or
unenforceability will not affect any other provision or any other jurisdiction, but this Agreement will be reformed, construed, and enforced in such jurisdiction as if such invalid, illegal, or unenforceable provision had never been contained
herein. 
 (c)    Complete Agreement. This Agreement and any other agreements ancillary thereto and executed and
delivered on the date hereof embody the complete agreement and understanding between the parties and supersede and preempt any prior understandings, agreements, or representations by or among the parties, written or oral, which may have related to
the subject matter hereof in any way. 
 (d)    Counterparts. This Agreement may be executed in separate
counterparts, each of which is deemed to be an original and all of which taken together constitute one and the same agreement. 

(e)    Assignment; Successors and Assigns. Neither this Agreement nor any of the rights, interests or obligations
hereunder shall be assigned, in whole or in part, by any of the parties without the prior written consent of the other parties. Subject to the preceding sentence, this Agreement shall bind and inure to the benefit of and be enforceable by the
Sellers and the Company and their respective successors and permitted assigns. Any purported assignment not permitted under this paragraph shall be null and void. 

(f)    No Third Party Beneficiaries or Other Rights. This Agreement is for the sole benefit of the parties and
their successors and permitted assigns and nothing herein express or implied shall give or shall be construed to confer any legal or equitable rights or remedies to any person other than the parties to this Agreement and such successors and
permitted assigns. 
 (g)    Governing Law; Jurisdiction. This Agreement and all disputes arising out of or
related to this Agreement (whether in contract, tort or otherwise) will be governed by and construed in accordance with the laws of the State of New York. EACH OF THE PARTIES TO THIS AGREEMENT IRREVOCABLY WAIVES ANY AND ALL RIGHTS TO TRIAL BY JURY
IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT. Each of the parties (i) irrevocably submits to the personal jurisdiction of any state or federal court 

  
 6 

 
sitting in New York, New York, as well as to the jurisdiction of all courts to which an appeal may be taken from such courts, in any suit, action or proceeding relating to or arising out of,
under or in connection with this Agreement, (ii) agrees that all claims in respect of such suit, action or proceeding, whether arising under contract, tort or otherwise, shall be brought, heard and determined exclusively in the federal court of
the Southern District of New York (provided, that, in the event that subject matter jurisdiction is unavailable in that court, then all such claims shall be brought, heard and determined exclusively in any other state or federal court sitting
in New York, New York), (iii) agrees that it shall not attempt to deny or defeat such personal jurisdiction by motion or other request for leave from such court, and (iv) agrees not to bring any action or proceeding relating to or arising out
of, under or in connection with this Agreement or the Company’s business or affairs in any other court, tribunal, forum or proceeding. Each of the parties waives any defense of inconvenient forum to the maintenance of any action or proceeding
brought in accordance with this paragraph. Each of the parties agrees that service of any process, summons, notice or document by U.S. registered mail to its address set forth herein shall be effective service of process for any action, suit or
proceeding brought against it in accordance with this paragraph, provided, that nothing in the foregoing sentence shall affect the right of any party to serve legal process in any other manner permitted by law. 

(h)    Mutuality of Drafting. The parties have participated jointly in the negotiation and drafting of this
Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as jointly drafted by the parties, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue
of the authorship of any provision of the Agreement. 
 (i)    Remedies. The parties hereto agree and acknowledge
that money damages will not be an adequate remedy for any breach of the provisions of this Agreement, that any breach of the provisions of this Agreement shall cause the other parties irreparable harm, and that any party may in its sole discretion
apply to any court of law or equity of competent jurisdiction (without posting any bond or deposit) for specific performance or other injunctive relief in order to enforce, or prevent any violations of, the provisions of this Agreement. 

(j)    Amendment and Waiver. The provisions of this Agreement may be amended, modified or waived only with the
prior written consent of the Company and each of the Sellers. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions of this Agreement, nor shall any waiver constitute a continuing
waiver. Moreover, no failure by any party to insist upon strict performance of any of the provisions of this Agreement or to exercise any right or remedy arising out of a breach thereof shall constitute a waiver of any other provisions or any other
breaches of this Agreement. 
 (k)    Further Assurances. Each of the Company and the Sellers shall execute and
deliver such additional documents and instruments and shall take such further action as may be necessary or appropriate to effectuate fully the provisions of this Agreement. 

  
 7 

 [Signatures appear on following page] 

  
 8 

 IN WITNESS WHEREOF, the parties hereto have executed this Purchase Agreement on the date first
written above. 
  

					
	Company:
	
	Taylor Morrison Home Corporation
			
		 	By:	 	 /s/ Darrell C. Sherman

		 	Name:	 	Darrell C. Sherman
		 	Title:	 	Executive Vice President, Chief Legal Officer and Secretary

  
 9 

[Signature Page to Purchase Agreement] 

 
					
	Sellers:
	
	TPG TMM Holdings II, L.P.
	
	By: TPG TMM Holdings II GP, ULC, its general partner
		
	By:	 	 /s/ Michael LaGatta

		 	Name:	 	Michael LaGatta
		 	Title:	 	Vice President

  
 10 

[Signature Page to Purchase Agreement] 

 
					
	Sellers:
	
	OCM TMM Holdings II, L.P.
	
	By: OCM TMM Holdings II GP, ULC, its general partner
		
	By:	 	 /s/ Jason Keller

		 	Name:	 	Jason Keller
		 	Title:	 	Authorized Signatory
		
	By:	 	 /s/ John C. Brady

		 	Name:	 	John C. Brady
		 	Title:	 	Authorized Signatory

  
 11 

[Signature Page to Purchase Agreement] 

 SCHEDULE I 
  

							
	 Seller
	  	 Address
	  	Purchased Interests	  	Applicable Percentage
	TPG TMM Holdings II, L.P.	  	 TPG Global, LLC
 301 Commerce Street, Suite
3300
 Fort Worth, TX 76102
 Attention: Adam Fliss

Facsimile: (415) 438-6893

E-mail: afliss@tpg.com
  

With a copy (which shall not constitute notice) to:
  

Ropes & Gray LLP
 The Prudential Tower

800 Boylston Street
 Boston, Massachusetts 02199

Attention: Alfred O. Rose

                  Julie H. Jones

Facsimile: (617) 951-7050

E-mail:  Alfred.rose@ropesgray.com

              Julie.jones@ropesgray.com
	  	5,000,000	  	50%
				
	OCM TMM Holdings II, L.P.	  	 Oaktree Capital Management, L.P.
 333 South
Grand Ave., 28th Floor
 Los Angeles, CA 90071
 Facsimile: (213)
830-6293
 E-mail: kliang@oaktreecapital.com

 
 with a copy (which shall not constitute notice) to:

 
 Debevoise & Plimpton LLP

919 Third Avenue
 New York, NY 10022

Attention: Jasmine Ball
 Facsimile: (212) 909-6836
 E-mail: jball@debevoise.com
	  	5,000,000	  	50%

  
 [Schedule I to
Purchase Agreement]

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