Document:

Exihibit 4.5A

 

FIRST SUPPLEMENTAL INDENTURE

(Senior Notes due 2025)

THIS FIRST SUPPLEMENTAL INDENTURE (this “First Supplemental Indenture”) is dated as of November 25, 2014, among OMEGA HEALTHCARE INVESTORS, INC., a Maryland corporation (the “Issuer”), each of the SUBSIDIARY GUARANTORS listed on Schedule I hereto (collectively, the “Subsidiary Guarantors”), each of the companies listed on Schedule II hereto (collectively, the “New Subsidiaries”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America, as trustee (the “Trustee”).

W I T N E S S E T H :

WHEREAS, the Issuer and the Subsidiary Guarantors have heretofore executed and delivered to the Trustee an Indenture, dated as of September 11, 2014 (the “Indenture”), providing for the issuance of the Issuer’s 4.50% Senior Notes due 2025 (the “Notes”);

WHEREAS, Section 9.01 of the Indenture authorizes the Issuer, the Subsidiary Guarantors and the Trustee, together, to amend or supplement the Indenture, without notice to or consent of any Holder of the Notes, for the purpose of making any change that would not materially adversely affect the rights of any Holder of the Notes;

WHEREAS, pursuant to Section 4.14 of the Indenture, the New Subsidiaries are required to become Subsidiary Guarantors;

WHEREAS, in Section 1.01 of the Indenture, the term “Subsidiary Guarantors” is defined to include all Persons that become a Subsidiary Guarantor by the terms of the Indenture after the Closing Date; and

WHEREAS, Section 10.01 of the Indenture provides that each Subsidiary Guarantor shall be a guarantor of the Issuer’s obligations under the Notes, subject to the terms and conditions described in the Indenture.

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Issuer, the Subsidiary Guarantors, the New Subsidiaries and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows:

	
1.

	
CAPITALIZED TERMS.  Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture.

	
2.

	
AMENDMENT TO GUARANTEE.  The New Subsidiaries hereby agree, jointly and severally with all other Subsidiary Guarantors, to guarantee the Issuer’s obligations under the Notes on the terms and subject to the conditions set forth in the Indenture, and to be bound by, and to receive the benefit of, all other applicable provisions of the Indenture as Subsidiary Guarantors.  Such guarantee shall be evidenced by the New Subsidiaries’ execution of Subsidiary Guarantees, the form of which is attached as Exhibit E to the Indenture, and shall be effective as of the date hereof.

    	 

    	 

    
 

	
3.

	
NO RECOURSE AGAINST OTHERS.  No past, present or future director, officer, employee, partner, affiliate, beneficiary or stockholder of the New Subsidiaries, as such, shall have any liability for any obligations of the Issuer or any Subsidiary Guarantor under the Notes, any Guarantees, the Indenture or this First Supplemental Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation.  Each Holder of the Notes, by accepting and holding a Note, waives and releases all such liability.  Such waiver and release are part of the consideration for the issuance of the Notes.

	
4.

	
NEW YORK LAW TO GOVERN.  The laws of the State of New York shall govern and be used to construe this First Supplemental Indenture.

	
5.

	
COUNTERPARTS.  The parties may sign any number of copies of this First Supplemental Indenture.  Each signed copy shall be an original, but all of them together shall represent the same agreement.

	
6.

	
EFFECT OF HEADINGS.  The Section headings herein are for convenience only and shall not affect the construction hereof.

	
7.

	
THE TRUSTEE.  The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this First Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by the Issuer, the Subsidiary Guarantors and the New Subsidiaries.

[Remainder of Page Intentionally Left Blank]

    	 

    	 

    
 

IN WITNESS WHEREOF, the parties hereto have caused this First Supplemental Indenture to be duly executed, all as of the date first above written.

	 	OMEGA HEALTHCARE INVESTORS, INC.
	 	
	
 

	
By:

	/s/ Robert O. Stephenson
	 	Name: Robert O. Stephenson
	 	Title: Chief Financial Officer and Treasurer
	 		
	 	On behalf of each Subsidiary Guarantor, its sole

                                                                  member, general partner or trustee, named on

                                                                  the attached Schedule I

	 		
	 	By: 	/s/ Robert O. Stephenson
	 	Name: Robert O. Stephenson
	 	Title: Chief Financial Officer and Treasurer
	 		
	 	On behalf of each of the New Subsidiaries or its

                                                                  sole member, named on the attached Schedule II

	 		
	 	By:	/s/ Robert O. Stephenson
	 	Name: Robert O. Stephenson
	 	Title: Chief Financial Officer and Treasurer
	 		
	 	U.S. BANK NATIONAL ASSOCIATION,

                                                                  as Trustee

	 		
	 	By:	 /s/ Dave Ferrell
	 	Name: Dave Ferrell
	 	Title: Vice President

 

    	 

    	 

    
 

Schedule I

SUBSIDIARY GUARANTORS

	
Encanto
Senior Care, LLC

	13922
                                         Cerise Avenue, LLC

	245
                                         East Wilshire Avenue, LLC

	3806
                                         Clayton Road, LLC

	523
                                         Hayes Lane, LLC

	637
                                         East Romie Lane, LLC

	2425
                                         Teller Avenue, LLC

	Bayside
                                         Colorado Healthcare Associates, Inc.

	OHI
                                         (Connecticut), Inc.

	Bayside
                                         Street II, Inc.

	Carnegie
                                         Gardens LLC

	CFG
                                         2115 Woodstock Place LLC

	CSE
                                         Albany LLC

	CSE
                                         Amarillo LLC

	CSE
                                         Arden L.P.

	CSE
                                         Augusta LLC

	CSE
                                         Bedford LLC

	CSE
                                         Blountville LLC

	CSE
                                         Bolivar LLC

	CSE
                                         Cambridge LLC

	CSE
                                         Cambridge Realty LLC

	CSE
                                         Camden LLC

	CSE
                                         Canton LLC

	CSE
                                         Casablanca Holdings II LLC

	CSE
                                         Casablanca Holdings LLC

	CSE
                                         Cedar Rapids LLC

	CSE
                                         Centennial Village

	CSE
                                         Chelmsford LLC

	CSE
                                         Chesterton LLC

	CSE
                                         Claremont LLC

	CSE
                                         Corpus North LLC

	CSE
                                         Denver Iliff LLC

	CSE
                                         Denver LLC

	CSE
                                         Douglas LLC

	CSE
                                         Elkton LLC

	CSE
                                         Elkton Realty LLC

	CSE
                                         Fairhaven LLC

	CSE
                                         Fort Wayne LLC

	CSE
                                         Frankston LLC

	CSE
                                         Georgetown LLC

	CSE
                                         Green Bay LLC

	CSE
                                         Hilliard LLC

 

    	 

    	 

    
 

 

	CSE
                                         Huntingdon LLC

	CSE
                                         Huntsville LLC

	CSE
                                         Indianapolis-Continental LLC

	CSE
                                         Indianapolis-Greenbriar LLC

	CSE
                                         Jacinto City LLC

	CSE
                                         Jefferson City LLC

	CSE
                                         Jeffersonville-Hillcrest Center LLC

	CSE
                                         Jeffersonville-Jennings House LLC

	CSE
                                         Kerrville LLC

	CSE
                                         King L.P.

	CSE
                                         Kingsport LLC

	CSE
                                         Knightdale L.P.

	CSE
                                         Lake City LLC

	CSE
                                         Lake Worth LLC

	CSE
                                         Lakewood LLC

	CSE
                                         Las Vegas LLC

	CSE
                                         Lawrenceburg LLC

	CSE
                                         Lenoir L.P.

	CSE
                                         Lexington Park LLC

	CSE
                                         Lexington Park Realty LLC

	CSE
                                         Ligonier LLC

	CSE
                                         Live Oak LLC

	CSE
                                         Lowell LLC

	CSE
                                         Marianna Holdings LLC

	CSE
                                         Memphis LLC

	CSE
                                         Mobile LLC

	CSE
                                         Moore LLC

	CSE
                                         North Carolina Holdings I LLC

	CSE
                                         North Carolina Holdings II LLC

	CSE
                                         Omro LLC

	CSE
                                         Orange Park LLC

	CSE
                                         Orlando-Pinar Terrace Manor LLC

	CSE
                                         Orlando-Terra Vista Rehab LLC

	CSE
                                         Pennsylvania Holdings

	CSE
                                         Piggott LLC

	CSE
                                         Pilot Point LLC

	CSE
                                         Pine View LLC

	CSE
                                         Ponca City LLC

	CSE
                                         Port St. Lucie LLC

	CSE
                                         Richmond LLC

	CSE
                                         Ripley LLC

	CSE
                                         Ripon LLC

	CSE
                                         Safford LLC

	CSE
                                         Salina LLC

	CSE
                                         Seminole LLC

	CSE
                                         Shawnee LLC

 

    	 

    	 

    
 

 

	CSE
                                         Spring Branch LLC

	CSE
                                         Stillwater LLC

	CSE
                                         Taylorsville LLC

	CSE
                                         Texarkana LLC

	CSE
                                         Texas City LLC

	CSE
                                         The Village LLC

	CSE
                                         Upland LLC

	CSE
                                         Walnut Cove L.P.

	CSE
                                         West Point LLC

	CSE
                                         Whitehouse LLC

	CSE
                                         Williamsport LLC

	CSE
                                         Winter Haven LLC

	CSE
                                         Woodfin L.P.

	CSE
                                         Yorktown LLC

	Desert
                                         Lane LLC

	Greenbough,
                                         LLC

	LAD
                                         I Real Estate Company, LLC

	North
                                         Las Vegas LLC

	NRS
                                         Ventures, L.L.C.

	OHI
                                         Asset (AR) Ash Flat, LLC

	OHI
                                         Asset (AR) Camden, LLC

	OHI
                                         Asset (AR) Conway, LLC

	OHI
                                         Asset (AR) Des Arc, LLC

	OHI
                                         Asset (AR) Hot Springs, LLC

	OHI
                                         Asset (AR) Malvern, LLC

	OHI
                                         Asset (AR) Mena, LLC

	OHI
                                         Asset (AR) Pocahontas, LLC

	OHI
                                         Asset (AR) Sheridan, LLC

	OHI
                                         Asset (AR) Walnut Ridge, LLC

	OHI
                                         Asset (AZ) Austin House, LLC

	OHI
                                         Asset (CA), LLC

	OHI
                                         Asset (CO), LLC

	OHI
                                         Asset (CT) Lender, LLC

	OHI
                                         Asset (FL) Lake Placid, LLC

	OHI
                                         Asset (FL) Lender, LLC

	OHI
                                         Asset (FL), LLC

	OHI
                                         Asset (GA) Moultrie, LLC

	OHI
                                         Asset (GA) Snellville, LLC

	OHI
                                         Asset (ID) Holly, LLC

	OHI
                                         Asset (ID) Midland, LLC

	OHI
                                         Asset (ID), LLC

	OHI
                                         Asset (IL), LLC

	OHI
                                         Asset (IN) American Village, LLC

	OHI
                                         Asset (IN) Anderson, LLC

	OHI
                                         Asset (IN) Beech Grove, LLC

	OHI
                                         Asset (IN) Clarksville, LLC

 

    	 

    	 

    
 

 

	OHI
                                         Asset (IN) Clinton, LLC

	OHI
                                         Asset (IN) Connersville, LLC

	OHI
                                         Asset (IN) Crown Point, LLC

	OHI
                                         Asset (IN) Eagle Valley, LLC

	OHI
                                         Asset (IN) Elkhart, LLC

	OHI
                                         Asset (IN) Forest Creek, LLC

	OHI
                                         Asset (IN) Fort Wayne, LLC

	OHI
                                         Asset (IN) Franklin, LLC

	OHI
                                         Asset (IN) Greensburg, LLC

	OHI
                                         Asset (IN) Indianapolis, LLC

	OHI
                                         Asset (IN) Jasper, LLC

	OHI
                                         Asset (IN) Kokomo, LLC

	OHI
                                         Asset (IN) Lafayette, LLC

	OHI
                                         Asset (IN) Madison, LLC

	OHI
                                         Asset (IN) Monticello, LLC

	OHI
                                         Asset (IN) Noblesville, LLC

	OHI
                                         Asset (IN) Rosewalk, LLC

	OHI
                                         Asset (IN) Salem, LLC

	OHI
                                         Asset (IN) Seymour, LLC

	OHI
                                         Asset (IN) Spring Mill, LLC

	OHI
                                         Asset (IN) Terre Haute, LLC

	OHI
                                         Asset (IN) Wabash, LLC

	OHI
                                         Asset (IN) Westfield, LLC

	OHI
                                         Asset (IN) Zionsville, LLC

	OHI
                                         Asset (LA), LLC

	OHI
                                         Asset (MD), LLC

	OHI
                                         Asset (MI) Heather Hills, LLC

	OHI
                                         Asset (MI), LLC

	OHI
                                         Asset (MO), LLC

	OHI
                                         Asset (MS) Byhalia, LLC

	OHI
                                         Asset (MS) Cleveland, LLC

	OHI
                                         Asset (MS) Clinton, LLC

	OHI
                                         Asset (MS) Columbia, LLC

	OHI
                                         Asset (MS) Corinth, LLC

	OHI
                                         Asset (MS) Greenwood, LLC

	OHI
                                         Asset (MS) Grenada, LLC

	OHI
                                         Asset (MS) Holly Springs, LLC

	OHI
                                         Asset (MS) Indianola, LLC

	OHI
                                         Asset (MS) Natchez, LLC

	OHI
                                         Asset (MS) Picayune, LLC

	OHI
                                         Asset (MS) Vicksburg, LLC

	OHI
                                         Asset (MS) Yazoo City, LLC

	OHI
                                         Asset (NC) Wadesboro, LLC

	OHI
                                         Asset (OH) Lender, LLC

	OHI
                                         Asset (OH), LLC

	OHI
                                         Asset (OR) Portland, LLC

 

    	 

    	 

    
 

 

	OHI
                                         Asset (PA), LLC

	OHI
                                         Asset (SC) Aiken, LLC

	OHI
                                         Asset (SC) Anderson, LLC

	OHI
                                         Asset (SC) Easley Anne, LLC

	OHI
                                         Asset (SC) Easley Crestview, LLC

	OHI
                                         Asset (SC) Edgefield, LLC

	OHI
                                         Asset (SC) Greenville Griffith, LLC

	OHI
                                         Asset (SC) Greenville Laurens, LLC

	OHI
                                         Asset (SC) Greenville North, LLC

	OHI
                                         Asset (SC) Greer, LLC

	OHI
                                         Asset (SC) Marietta, LLC

	OHI
                                         Asset (SC) McCormick, LLC

	OHI
                                         Asset (SC) Pickens East Cedar, LLC

	OHI
                                         Asset (SC) Pickens Rosemond, LLC

	OHI
                                         Asset (SC) Piedmont, LLC

	OHI
                                         Asset (SC) Simpsonville SE Main, LLC

	OHI
                                         Asset (SC) Simpsonville West Broad, LLC

	OHI
                                         Asset (SC) Simpsonville West Curtis, LLC

	OHI
                                         Asset (TN) Bartlett, LLC

	OHI
                                         Asset (TN) Collierville, LLC

	OHI
                                         Asset (TN) Memphis, LLC

	OHI
                                         Asset (TX) Anderson, LLC

	OHI
                                         Asset (TX) Bryan, LLC

	OHI
                                         Asset (TX) Burleson, LLC

	OHI
                                         Asset (TX) College Station, LLC

	OHI
                                         Asset (TX) Comfort, LLC

	OHI
                                         Asset (TX) Diboll, LLC

	OHI
                                         Asset (TX) Granbury, LLC

	OHI
                                         Asset (TX) Hondo, LLC

	OHI
                                         Asset (TX) Italy, LLC

	OHI
                                         Asset (TX) Winnsboro, LLC

	OHI
                                         Asset (TX), LLC

	OHI
                                         Asset (UT) Ogden, LLC

	OHI
                                         Asset (UT) Provo, LLC

	OHI
                                         Asset (UT) Roy, LLC

	OHI
                                         Asset (VA) Charlottesville, LLC

	OHI
                                         Asset (VA) Farmville, LLC

	OHI
                                         Asset (VA) Hillsville, LLC

	OHI
                                         Asset (VA) Rocky Mount, LLC

	OHI
                                         Asset (WA) Battle Ground, LLC

	OHI
                                         Asset CSB LLC

	OHI
                                         Asset CSE – E, LLC

	OHI
                                         Asset CSE – U, LLC

	OHI
                                         Asset HUD CFG, LLC

	OHI
                                         Asset HUD Delta, LLC

	OHI
                                         Asset HUD SF CA, LLC

 

    	 

    	 

    
 

 

	OHI
                                         Asset HUD SF, LLC

	OHI
                                         Asset HUD WO, LLC

	OHI
                                         Asset II (CA), LLC

	OHI
                                         Asset II (FL), LLC

	OHI
                                         Asset RO PMM Services, LLC

	OHI
                                         Asset RO, LLC

	OHI
                                         Asset, LLC

	OHI
                                         Mezz Lender, LLC

	Panama
                                         City Nursing Center LLC

	Skyler
                                         Maitland LLC

	Suwanee,
                                         LLC

	Florida
                                         Real Estate Company, LLC

	Pensacola
                                         Real Estate Holdings I, Inc.

	Pensacola
                                         Real Estate Holdings II, Inc.

	Pensacola
                                         Real Estate Holdings III, Inc.

	Pensacola
                                         Real Estate Holdings IV, Inc.

	Pensacola
                                         Real Estate Holdings V, Inc.

	Skyler
                                         Pensacola, Inc.

	OHI
                                         (Illinois), Inc.

	OHI
                                         (Indiana), Inc.

	OHI
                                         (Iowa), Inc.

	Sterling
                                         Acquisition Corp.

	48
                                         High Point Road, LLC

	Arizona
                                         Lessor - Infinia, Inc.

	Bayside
                                         Street, Inc.

	Colorado
                                         Lessor - Conifer, Inc.

	Delta
                                         Investors I, LLC

	Delta
                                         Investors II, LLC

	Florida
                                         Lessor – Meadowview, Inc.

	Georgia
                                         Lessor - Bonterra/Parkview, Inc.

	Indiana
                                         Lessor – Wellington Manor, Inc.

	OHI
                                         Asset (PA) Trust

	OHI
                                         Asset II (PA) Trust

	OHI
                                         Asset III (PA) Trust

	OHI
                                         Asset IV (PA) Silver Lake Trust

	OHI
                                         Tennessee, Inc.

	Omega
                                         TRS I, Inc.

	Texas
                                         Lessor – Stonegate GP, Inc.

	Texas
                                         Lessor – Stonegate, Limited, Inc.

	Texas
                                         Lessor – Stonegate, LP

	Washington
                                         Lessor – Silverdale, Inc.

	OHIMA,
                                         Inc.

	1200
                                         Ely Street Holdings Co. LLC

	42235
                                         County Road Holdings Co. LLC

	Dixie
                                         White House Nursing Home, Inc.

	Ocean
                                         Springs Nursing Home, Inc.

 

    	 

    	 

    
 

 

	Skyler
                                         Boyington, Inc.

	Skyler
                                         Florida, Inc.

	Canton
                                         Health Care Land, Inc.

	Colonial
                                         Gardens, LLC

	Dixon
                                         Health Care Center, Inc.

	Hutton
                                         I Land, Inc.

	Hutton
                                         II Land, Inc.

	Hutton
                                         III Land, Inc.

	Leatherman
                                         90-1, Inc.

	Leatherman
                                         Partnership 89-1, Inc.

	Leatherman
                                         Partnership 89-2, Inc.

	Meridian
                                         Arms Land, Inc.

	Orange
                                         Village Care Center, Inc.

	St.
                                         Mary’s Properties, Inc.

	The
                                         Suburban Pavilion, Inc.

	Wilcare,
                                         LLC

	Pavillion
                                         North Partners, Inc.

	Pavillion
                                         North, LLP

	Pavillion
                                         Nursing Center North, Inc.

OHI
Asset (GA) Macon, LLC

OHI
Asset (SC) Greenville, LLC

OHI
Asset (SC) Orangeburg, LLC

OHI
Asset (WV) Danville, LLC

OHI
Asset (WV) Ivydale, LLC

OHI
Mezz Lender, LLC

    	 

    	 

    
 

Schedule
II

NEW
SUBSIDIARIES

	11900
                                         East Artesia Boulevard, LLC

	2400
                                         Parkside Drive, LLC

	Golden
                                         Hill Real Estate Company, LLC

	1628
                                         B Street, LLC

	PV
                                         Realty–Willow Tree, LLC

    	 

    	 

    
 

SECOND SUPPLEMENTAL INDENTURE

(Senior Notes due 2025)

THIS SECOND SUPPLEMENTAL INDENTURE (this “Second Supplemental Indenture”) is dated as of January 23, 2015, among OMEGA HEALTHCARE INVESTORS, INC., a Maryland corporation (the “Issuer”), each of the SUBSIDIARY GUARANTORS listed on Schedule I hereto (collectively, the “Subsidiary Guarantors”), each of the companies listed on Schedule II hereto (collectively, the “New Subsidiaries”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America, as trustee (the “Trustee”).

W I T N E S S E T H :

WHEREAS, the Issuer and the Subsidiary Guarantors have heretofore executed and delivered to the Trustee an Indenture, dated as of September 11, 2014 (as supplemented by that First Supplemental Indenture, dated as of November 25, 2014, the “Indenture”), providing for the issuance of the Issuer’s 4.50% Senior Notes due 2025 (the “Notes”);

WHEREAS, Section 9.01 of the Indenture authorizes the Issuer, the Subsidiary Guarantors and the Trustee, together, to amend or supplement the Indenture, without notice to or consent of any Holder of the Notes, for the purpose of making any change that would not materially adversely affect the rights of any Holder of the Notes;

WHEREAS, pursuant to Section 4.14 of the Indenture, the New Subsidiaries are required to become Subsidiary Guarantors;

WHEREAS, in Section 1.01 of the Indenture, the term “Subsidiary Guarantors” is defined to include all Persons that become a Subsidiary Guarantor by the terms of the Indenture after the Closing Date; and

WHEREAS, Section 10.01 of the Indenture provides that each Subsidiary Guarantor shall be a guarantor of the Issuer’s obligations under the Notes, subject to the terms and conditions described in the Indenture.

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Issuer, the Subsidiary Guarantors, the New Subsidiaries and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows:

		1.	CAPITALIZED TERMS.  Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture.

		2.	AMENDMENT TO GUARANTEE.  The New Subsidiaries hereby agree, jointly and severally with all other Subsidiary Guarantors, to guarantee the Issuer’s obligations under the Notes on the terms and subject to the conditions set forth in the Indenture, and to be bound by, and to receive the benefit of, all other applicable provisions of the Indenture as Subsidiary Guarantors.  Such guarantee shall be evidenced by the New Subsidiaries’ execution of Subsidiary Guarantees, the form of which is attached as Exhibit E to the Indenture, and shall be effective as of the date hereof.

 

    	 

    	 

    
 

 

		3.	NO RECOURSE AGAINST OTHERS.  No past, present or future director, officer, employee, incorporator, stockholder, member, manager or controlling person of the New Subsidiaries, as such, shall have any liability for any obligations of the Issuer or any Subsidiary Guarantor under the Notes, any Guarantees, the Indenture or this Second Supplemental Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation.  Each Holder of the Notes, by accepting and holding a Note, waives and releases all such liability.  Such waiver and release are part of the consideration for the issuance of the Notes.

		4.	NEW YORK LAW TO GOVERN.  The laws of the State of New York shall govern and be used to construe this Second Supplemental Indenture.

		5.	COUNTERPARTS.  The parties may sign any number of copies of this Second Supplemental Indenture.  Each signed copy shall be an original, but all of them together shall represent the same agreement.

		6.	EFFECT OF HEADINGS.  The Section headings herein are for convenience only and shall not affect the construction hereof.

		7.	THE TRUSTEE.  The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Second Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by the Issuer, the Subsidiary Guarantors and the New Subsidiaries.

[Remainder of Page Intentionally Left Blank]

 

    	 

    	 

    
 

IN WITNESS WHEREOF, the parties hereto have caused this Second Supplemental Indenture to be duly executed, all as of the date first above written.

	 	

OMEGA HEALTHCARE INVESTORS, INC.

	 
	 	 	 	 
		
By: 

	
/s/ Robert O. Stephenson

	 
	 	
Name: Robert O. Stephenson

	 
	 	
Title: Chief Financial Officer and Treasurer

	 
	 	 	 	 
	 	
On behalf of each Subsidiary Guarantor, its sole

member, managing member, general partner or

trustee, named on the attached Schedule I

	 			
	 	By:	
 /s/ Robert O. Stephenson

	
	 	
Name: Robert O. Stephenson

	
	 	
Title: Chief Financial Officer and Treasurer

	
	 			
	 	
Each of the following New Subsidiaries:

	
	 			
	 	
BAYLA CYNWYD REAL ESTATE, LP

OHI ASSET (PA) WEST MIFFLIN, LP

	
	 			
	 	By:	OHI Asset (PA) West Mifflin, LP, as general partner	
	 			
	 	By:	
 /s/ Robert O. Stephenson

	
	 	
Name: Robert O. Stephenson

	
	 	
Title: Chief Financial Officer and Treasurer

	
	 			
	 	
OHI HEALTHCARE PROPERTIES LIMITED

PARTNERSHIP, L.P.

	
	 			
	 	By:	Omega Healthcare Investors, Inc., as general partner	
	 			
	 	By: 	
 /s/ Robert O. Stephenson

	
	 	
Name: Robert O. Stephenson

	
	 	
Title: Chief Financial Officer and Treasurer

	

 

[Signatures continued on the following page]

 

    	 

    	 

    
 

	 	

On behalf of each of the other New Subsidiaries,

its sole member or managing member, named on

the attached Schedule II

	
	 			
	 	By:	
/s/ Robert O. Stephenson

	
	 	

Name: Robert O. Stephenson

	
	 	

Title: Chief Financial Officer and Treasurer

	
	 			
	 	

U.S. BANK NATIONAL ASSOCIATION,

as Trustee

	
	 			
	 	By:	
/s/ David Ferrell

	
	 	

Name: David Ferrell

	
	 	

Title: Vice President

    	 

    	 

    
 

Schedule I

SUBSIDIARY GUARANTORS

	
Encanto Senior Care, LLC

	
13922 Cerise Avenue, LLC

	
245 East Wilshire Avenue, LLC

	
3806 Clayton Road, LLC

	
523 Hayes Lane, LLC

	
637 East Romie Lane, LLC

	
2425 Teller Avenue, LLC

	
Bayside Colorado Healthcare Associates, Inc.

	
OHI (Connecticut), Inc.

	
Bayside Street II, Inc.

	
Carnegie Gardens LLC

	
CFG 2115 Woodstock Place LLC

	
CSE Albany LLC

	
CSE Amarillo LLC

	
CSE Arden L.P.

	
CSE Augusta LLC

	
CSE Bedford LLC

	
CSE Blountville LLC

	
CSE Bolivar LLC

	
CSE Cambridge LLC

	
CSE Cambridge Realty LLC

	
CSE Camden LLC

	
CSE Canton LLC

	
CSE Casablanca Holdings II LLC

	
CSE Casablanca Holdings LLC

	
CSE Cedar Rapids LLC

	
CSE Centennial Village

	
CSE Chelmsford LLC

	
CSE Chesterton LLC

	
CSE Claremont LLC

	
CSE Corpus North LLC

	
CSE Denver Iliff LLC

	
CSE Denver LLC

	
CSE Douglas LLC

	
CSE Elkton LLC

	
CSE Elkton Realty LLC

	
CSE Fairhaven LLC

	
CSE Fort Wayne LLC

	
CSE Frankston LLC

	
CSE Georgetown LLC

	
CSE Green Bay LLC

	
CSE Hilliard LLC

 

    	 

    	 

    
 

 

	
CSE Huntingdon LLC

	
CSE Huntsville LLC

	
CSE Indianapolis-Continental LLC

	
CSE Indianapolis-Greenbriar LLC

	
CSE Jacinto City LLC

	
CSE Jefferson City LLC

	
CSE Jeffersonville-Hillcrest Center LLC

	
CSE Jeffersonville-Jennings House LLC

	
CSE Kerrville LLC

	
CSE King L.P.

	
CSE Kingsport LLC

	
CSE Knightdale L.P.

	
CSE Lake City LLC

	
CSE Lake Worth LLC

	
CSE Lakewood LLC

	
CSE Las Vegas LLC

	
CSE Lawrenceburg LLC

	
CSE Lenoir L.P.

	
CSE Lexington Park LLC

	
CSE Lexington Park Realty LLC

	
CSE Ligonier LLC

	
CSE Live Oak LLC

	
CSE Lowell LLC

	
CSE Marianna Holdings LLC

	
CSE Memphis LLC

	
CSE Mobile LLC

	
CSE Moore LLC

	
CSE North Carolina Holdings I LLC

	
CSE North Carolina Holdings II LLC

	
CSE Omro LLC

	
CSE Orange Park LLC

	
CSE Orlando-Pinar Terrace Manor LLC

	
CSE Orlando-Terra Vista Rehab LLC

	
CSE Pennsylvania Holdings

	
CSE Piggott LLC

	
CSE Pilot Point LLC

	
CSE Pine View LLC

	
CSE Ponca City LLC

	
CSE Port St. Lucie LLC

	
CSE Richmond LLC

	
CSE Ripley LLC

	
CSE Ripon LLC

	
CSE Safford LLC

	
CSE Salina LLC

	
CSE Seminole LLC

	
CSE Shawnee LLC

 

    	 

    	 

    
 

 

	
CSE Spring Branch LLC

	
CSE Stillwater LLC

	
CSE Taylorsville LLC

	
CSE Texarkana LLC

	
CSE Texas City LLC

	
CSE The Village LLC

	
CSE Upland LLC

	
CSE Walnut Cove L.P.

	
CSE West Point LLC

	
CSE Whitehouse LLC

	
CSE Williamsport LLC

	
CSE Winter Haven LLC

	
CSE Woodfin L.P.

	
CSE Yorktown LLC

	
Desert Lane LLC

	
Greenbough, LLC

	
LAD I Real Estate Company, LLC

	
North Las Vegas LLC

	
NRS Ventures, L.L.C.

	
OHI Asset (AR) Ash Flat, LLC

	
OHI Asset (AR) Camden, LLC

	
OHI Asset (AR) Conway, LLC

	
OHI Asset (AR) Des Arc, LLC

	
OHI Asset (AR) Hot Springs, LLC

	
OHI Asset (AR) Malvern, LLC

	
OHI Asset (AR) Mena, LLC

	
OHI Asset (AR) Pocahontas, LLC

	
OHI Asset (AR) Sheridan, LLC

	
OHI Asset (AR) Walnut Ridge, LLC

	
OHI Asset (AZ) Austin House, LLC

	
OHI Asset (CA), LLC

	
OHI Asset (CO), LLC

	
OHI Asset (CT) Lender, LLC

	
OHI Asset (FL) Lake Placid, LLC

	
OHI Asset (FL) Lender, LLC

	
OHI Asset (FL), LLC

	
OHI Asset (GA) Moultrie, LLC

	
OHI Asset (GA) Snellville, LLC

	
OHI Asset (ID) Holly, LLC

	
OHI Asset (ID) Midland, LLC

	
OHI Asset (ID), LLC

	
OHI Asset (IL), LLC

	
OHI Asset (IN) American Village, LLC

	
OHI Asset (IN) Anderson, LLC

	
OHI Asset (IN) Beech Grove, LLC

	
OHI Asset (IN) Clarksville, LLC

 

    	 

    	 

    
 

 

	
OHI Asset (IN) Clinton, LLC

	
OHI Asset (IN) Connersville, LLC

	
OHI Asset (IN) Crown Point, LLC

	
OHI Asset (IN) Eagle Valley, LLC

	
OHI Asset (IN) Elkhart, LLC

	
OHI Asset (IN) Forest Creek, LLC

	
OHI Asset (IN) Fort Wayne, LLC

	
OHI Asset (IN) Franklin, LLC

	
OHI Asset (IN) Greensburg, LLC

	
OHI Asset (IN) Indianapolis, LLC

	
OHI Asset (IN) Jasper, LLC

	
OHI Asset (IN) Kokomo, LLC

	
OHI Asset (IN) Lafayette, LLC

	
OHI Asset (IN) Madison, LLC

	
OHI Asset (IN) Monticello, LLC

	
OHI Asset (IN) Noblesville, LLC

	
OHI Asset (IN) Rosewalk, LLC

	
OHI Asset (IN) Salem, LLC

	
OHI Asset (IN) Seymour, LLC

	
OHI Asset (IN) Spring Mill, LLC

	
OHI Asset (IN) Terre Haute, LLC

	
OHI Asset (IN) Wabash, LLC

	
OHI Asset (IN) Westfield, LLC

	
OHI Asset (IN) Zionsville, LLC

	
OHI Asset (LA), LLC

	
OHI Asset (MD), LLC

	
OHI Asset (MI) Heather Hills, LLC

	
OHI Asset (MI), LLC

	
OHI Asset (MO), LLC

	
OHI Asset (MS) Byhalia, LLC

	
OHI Asset (MS) Cleveland, LLC

	
OHI Asset (MS) Clinton, LLC

	
OHI Asset (MS) Columbia, LLC

	
OHI Asset (MS) Corinth, LLC

	
OHI Asset (MS) Greenwood, LLC

	
OHI Asset (MS) Grenada, LLC

	
OHI Asset (MS) Holly Springs, LLC

	
OHI Asset (MS) Indianola, LLC

	
OHI Asset (MS) Natchez, LLC

	
OHI Asset (MS) Picayune, LLC

	
OHI Asset (MS) Vicksburg, LLC

	
OHI Asset (MS) Yazoo City, LLC

	
OHI Asset (NC) Wadesboro, LLC

	
OHI Asset (OH) Lender, LLC

	
OHI Asset (OH), LLC

	
OHI Asset (OR) Portland, LLC

 

    	 

    	 

    
 

 

	
OHI Asset (PA), LLC

	
OHI Asset (SC) Aiken, LLC

	
OHI Asset (SC) Anderson, LLC

	
OHI Asset (SC) Easley Anne, LLC

	
OHI Asset (SC) Easley Crestview, LLC

	
OHI Asset (SC) Edgefield, LLC

	
OHI Asset (SC) Greenville Griffith, LLC

	
OHI Asset (SC) Greenville Laurens, LLC

	
OHI Asset (SC) Greenville North, LLC

	
OHI Asset (SC) Greer, LLC

	
OHI Asset (SC) Marietta, LLC

	
OHI Asset (SC) McCormick, LLC

	
OHI Asset (SC) Pickens East Cedar, LLC

	
OHI Asset (SC) Pickens Rosemond, LLC

	
OHI Asset (SC) Piedmont, LLC

	
OHI Asset (SC) Simpsonville SE Main, LLC

	
OHI Asset (SC) Simpsonville West Broad, LLC

	
OHI Asset (SC) Simpsonville West Curtis, LLC

	
OHI Asset (TN) Bartlett, LLC

	
OHI Asset (TN) Collierville, LLC

	
OHI Asset (TN) Memphis, LLC

	
OHI Asset (TX) Anderson, LLC

	
OHI Asset (TX) Bryan, LLC

	
OHI Asset (TX) Burleson, LLC

	
OHI Asset (TX) College Station, LLC

	
OHI Asset (TX) Comfort, LLC

	
OHI Asset (TX) Diboll, LLC

	
OHI Asset (TX) Granbury, LLC

	
OHI Asset (TX) Hondo, LLC

	
OHI Asset (TX) Italy, LLC

	
OHI Asset (TX) Winnsboro, LLC

	
OHI Asset (TX), LLC

	
OHI Asset (UT) Ogden, LLC

	
OHI Asset (UT) Provo, LLC

	
OHI Asset (UT) Roy, LLC

	
OHI Asset (VA) Charlottesville, LLC

	
OHI Asset (VA) Farmville, LLC

	
OHI Asset (VA) Hillsville, LLC

	
OHI Asset (VA) Rocky Mount, LLC

	
OHI Asset (WA) Battle Ground, LLC

	
OHI Asset CSB LLC

	
OHI Asset CSE – E, LLC

	
OHI Asset CSE – U, LLC

	
OHI Asset HUD CFG, LLC

	
OHI Asset HUD Delta, LLC

	
OHI Asset HUD SF CA, LLC

 

    	 

    	 

    
 

 

	
OHI Asset HUD SF, LLC

	
OHI Asset HUD WO, LLC

	
OHI Asset II (CA), LLC

	
OHI Asset II (FL), LLC

	
OHI Asset RO PMM Services, LLC

	
OHI Asset RO, LLC

	
OHI Asset, LLC

	
OHI Mezz Lender, LLC

	
Panama City Nursing Center LLC

	
Skyler Maitland LLC

	
Suwanee, LLC

	
Florida Real Estate Company, LLC

	
Pensacola Real Estate Holdings I, Inc.

	
Pensacola Real Estate Holdings II, Inc.

	
Pensacola Real Estate Holdings III, Inc.

	
Pensacola Real Estate Holdings IV, Inc.

	
Pensacola Real Estate Holdings V, Inc.

	
Skyler Pensacola, Inc.

	
OHI (Illinois), Inc.

	
OHI (Indiana), Inc.

	
OHI (Iowa), Inc.

	
Sterling Acquisition Corp.

	
48 High Point Road, LLC

	
Arizona Lessor - Infinia, Inc.

	
Bayside Street, Inc.

	
Colorado Lessor - Conifer, Inc.

	
Delta Investors I, LLC

	
Delta Investors II, LLC

	
Florida Lessor – Meadowview, Inc.

	
Georgia Lessor - Bonterra/Parkview, Inc.

	
Indiana Lessor – Wellington Manor, Inc.

	
OHI Asset (PA) Trust

	
OHI Asset II (PA) Trust

	
OHI Asset III (PA) Trust

	
OHI Asset IV (PA) Silver Lake Trust

	
OHI Tennessee, Inc.

	
Omega TRS I, Inc.

	
Texas Lessor – Stonegate GP, Inc.

	
Texas Lessor – Stonegate, Limited, Inc.

	
Texas Lessor – Stonegate, LP

	
Washington Lessor – Silverdale, Inc.

	
OHIMA, Inc.

	
1200 Ely Street Holdings Co. LLC

	
42235 County Road Holdings Co. LLC

	
Dixie White House Nursing Home, Inc.

	
Ocean Springs Nursing Home, Inc.

 

    	 

    	 

    
 

 

	
Skyler Boyington, Inc.

	
Skyler Florida, Inc.

	
Canton Health Care Land, Inc.

	
Colonial Gardens, LLC

	
Dixon Health Care Center, Inc.

	
Hutton I Land, Inc.

	
Hutton II Land, Inc.

	
Hutton III Land, Inc.

	
Leatherman 90-1, Inc.

	
Leatherman Partnership 89-1, Inc.

	
Leatherman Partnership 89-2, Inc.

	
Meridian Arms Land, Inc.

	
Orange Village Care Center, Inc.

	
St. Mary’s Properties, Inc.

	
The Suburban Pavilion, Inc.

	
Wilcare, LLC

	
Pavillion North Partners, Inc.

	
Pavillion North, LLP

	
Pavillion Nursing Center North, Inc.

OHI Asset (GA) Macon, LLC

OHI Asset (SC) Greenville, LLC

OHI Asset (SC) Orangeburg, LLC

OHI Asset (WV) Danville, LLC

OHI Asset (WV) Ivydale, LLC

OHI Mezz Lender, LLC

	
11900 East Artesia Boulevard, LLC

	
2400 Parkside Drive, LLC

	
Golden Hill Real Estate Company, LLC

	
1628 B Street, LLC

	
PV Realty–Willow Tree, LLC

 

    	 

    	 

    
 

Schedule II

NEW SUBSIDIARIES

Bala Cynwyd Real Estate, LP

Hot Springs Atrium Owner, LLC

Hot Springs Cottages Owner, LLC

Hot Springs Marina Owner, LLC

OHI Asset (OR) Troutdale, LLC

OHI Asset (PA) GP, LLC

OHI Asset (PA) West Mifflin, LP

OHI Asset (TN) Jefferson City, LLC

OHI Asset CHG ALF, LLC

OHI Asset Management, LLC

OHI Healthcare Properties Holdco, Inc.

OHI Healthcare Properties Limited Partnership, L.P.EXHIBIT 10.1

STANDSTILL AGREEMENT

This Standstill Agreement (this "Agreement") is made by and between MutualFirst Financial, Inc. ("MutualFirst") on the one hand, and Financial Edge Fund, L.P., Financial Edge - Strategic Fund, L.P., PL Capital Focused Fund, L.P., Goodbody/PL Capital, L.P., PL Capital, LLC, PL Capital Advisors, LLC, Goodbody/PL Capital, LLC, John W. Palmer and Richard J. Lashley  (collectively, the "PL Capital Parties"), on the other hand, on behalf of themselves and their respective affiliates (MutualFirst and the PL Capital Parties together, collectively, the "Parties").  In consideration of the covenants, promises and undertakings set forth herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows:

	1.	Bylaw Amendment

On February 26, 2015, the Board of Directors of MutualFirst will amend Section 2.11(a) of its Amended and Restated Bylaws to remove the requirement that in order to qualify to stand for election or to continue to serve as a director, a person must have his or her principal residence in any county in which MutualFirst or any of its subsidiaries has an office.

2.             Board Expansion and Membership

On February 26, 2015, the Board of Directors of MutualFirst will be expanded from its present twelve-member size to thirteen members, and Richard J. Lashley will be appointed a director of MutualFirst to serve in the class of directors with terms expiring at the conclusion of MutualFirst's 2017 annual meeting of stockholders. At all times from and after the date of this Agreement, subject to Section 5 hereof, MutualFirst's Board of Directors will also appoint, at its sole discretion, all other persons to fill remaining director positions or vacancies on the MutualFirst Board of Directors.  Mr. Lashley shall receive the normal compensation and benefits paid to directors of MutualFirst while he serves as a director thereof.

On February 26, 2015, the Board of Directors of MutualFirst will cause the Board of Directors of MutualBank (the "Bank") to expand the Bank's Board of Directors to thirteen members and to appoint Mr. Lashley to fill the vacancy created by the expansion of the Bank's Board of Directors for a term to expire at the annual meeting of the Bank's sole shareholder to be held in 2015, as required by Article III, Section 11 of the Bank's Bylaws.  At the annual meeting of the Bank's sole shareholder to be held in 2015, MutualFirst, as the Bank's sole shareholder, shall cause Mr. Lashley to be elected as a director of the Bank to serve in the class of directors with terms expiring at the conclusion of the Bank's 2017 annual meeting of its sole shareholder.  Mr. Lashley shall receive the normal compensation and benefits paid to directors of the Bank while he serves as a director thereof.

Mr. Lashley or the Substitute (as hereinafter defined), as the case may be, agrees to promptly submit his resignation as a member of the Board of Directors of each of MutualFirst and the Bank upon the termination of this Agreement pursuant to Section 16 hereof.

3.            Standstill

The PL Capital Parties each agree that during the Standstill Period (as hereinafter defined), the PL Capital Parties and their affiliates or associates (as defined in Rule 12b-2 promulgated pursuant to the Securities Exchange Act of 1934, as amended (the "Exchange Act")) will not (and they will not assist or encourage others to), directly or indirectly, in any manner, without prior written approval of the Board of Directors of MutualFirst:

 

(i)            acquire, offer or propose to acquire, solicit an offer to sell or agree to acquire directly or indirectly, alone or in concert with others, by purchase, gift, tender, exchange or otherwise, any direct or indirect beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act) or any direct or indirect interest in any securities or direct or indirect rights, warrants or options to acquire, or securities convertible into or exchangeable for (collectively, an "Acquisition"), any securities of MutualFirst, such that as a result of such of such Acquisition, the PL Capital Parties would maintain beneficial ownership in excess of 9.99% of the outstanding shares of MutualFirst common stock;

(ii)            make, engage in, or in any way participate in, directly or indirectly, alone or in concert with others, any "solicitation" of "proxies" or consents to vote (as such terms are used in the proxy rules of the Securities and Exchange Commission promulgated pursuant to Section 14 of the Exchange Act) or seek to advise, encourage or influence in any manner whatsoever any person with respect to the voting of any voting securities of MutualFirst;

(iii)            form, join, encourage, influence, advise or in any way participate in a "group" within the meaning of Section 13(d)(3) of the Exchange Act (other than a group involving solely the PL Capital Parties) with respect to any voting securities of MutualFirst or otherwise in any manner agree, attempt, seek or propose to deposit any securities of MutualFirst in any voting trust or similar arrangement, or subject any securities of MutualFirst to any arrangement or agreement with respect to the voting thereof (other than any such voting trust, arrangement or agreement solely among the PL Capital Parties) except as expressly set forth in this Agreement (for the benefit of clarification and the avoidance of doubt, this provision shall not prohibit changes in the membership of the group involving the PL Capital Parties as long as any additional member(s) agrees to be bound by the terms of this Agreement);

(iv)            acquire, offer or propose to acquire or agree to acquire, directly or indirectly, alone or in concert with others, by purchase, tender, exchange or otherwise, (a) any of the assets, tangible and intangible, direct or indirect, of MutualFirst or (b) direct or indirect rights, warrants or options to acquire any assets of MutualFirst;

(v)            arrange, or in any way participate, directly or indirectly, in any financing (except for margin loan financing for shares beneficially owned) for the purchase of any securities or securities convertible or exchangeable into or exercisable for any securities or assets of MutualFirst;

(vi)            otherwise act, alone or in concert with others, propose or to seek to offer to MutualFirst or any of its stockholders any business combination, restructuring, recapitalization

  

2

or similar transaction to or with MutualFirst or the Bank or otherwise seek, alone or in concert with others, to control or change the management, Board of Directors or policies of MutualFirst or the Bank, propose or seek any amendment, waiver or modification of the articles of incorporation or bylaws of MutualFirst, nominate any person as a director of MutualFirst who is not nominated by the then incumbent directors (provided that if there is a vacancy on the MutualFirst Board of Directors the PL Capital Parties may submit suggestions on a confidential basis to the MutualFirst Board of Directors or the Nominating Committee of the MutualFirst Board of Directors for nominees to the Board of Directors pursuant to the nomination policy adopted by the Board of Directors), or propose any matter to be voted upon by the stockholders of MutualFirst;

(vii)            directly or indirectly, sell, transfer or otherwise dispose of any interest in the shares of MutualFirst common stock beneficially owned by the PL Capital Parties to any person that would reasonably be understood to be the beneficial owner of 5% or more of the outstanding shares of MutualFirst common stock, except in a transaction approved by the MutualFirst Board of Directors;

(viii)            except in connection with the enforcement of this Agreement, initiate or participate, by encouragement or otherwise, in any litigation against MutualFirst or the Bank or their respective directors or officers, or in any derivative litigation on behalf of MutualFirst, except for testimony which may be required by law; or

(ix)            announce an intention to do, or enter into any arrangement or understanding with others to do, or advise, assist or encourage others to do, any of the actions restricted or prohibited under clauses (i) through (viii) of this Paragraph 3, publicly announce or disclose any request to be excused from any of the foregoing obligations of this Paragraph 3 or otherwise take or cause any action or make any statement inconsistent with any of the foregoing.

At any MutualFirst annual meeting of stockholders during the Standstill Period, the PL Capital Parties agree: (1) to vote all shares of MutualFirst they or any of them beneficially own in favor of the nominees for election or reelection as director of MutualFirst selected by the Board of Directors of MutualFirst and agree otherwise to support such director candidates, and (2) with respect to any other proposal submitted by any MutualFirst stockholder to a vote of the MutualFirst stockholders, to vote all of the MutualFirst shares they beneficially own in accordance with the recommendation of the MutualFirst Board of Directors with respect to any such stockholder proposal.

Notwithstanding anything in this Agreement to the contrary, nothing herein will be construed to limit or affect:  (1) any action or inaction by Mr. Lashley or the Substitute in his capacity as a member of MutualFirst's Board of Directors or the Bank's Board of Directors, provided he acts in good faith in the discharge of his fiduciary duties as a Board member; or (2) the ability of the PL Capital Parties to engage in discussions relating to the topics listed in Paragraph 3 of this Agreement directly with the President and Chief Executive Officer of MutualFirst, or upon invitation, with other members of management or the Board of Directors of MutualFirst.

3

The "Standstill Period" shall begin as of the date of this Agreement and shall remain in full force and effect until the later of (1) the close of business on the date of the 2016 annual meeting of stockholders of MutualFirst or (2) the last day that Mr. Lashley or any substitute for Mr. Lashley nominated by the PL Capital Parties pursuant to Paragraph 5 hereof (the "Substitute"), as the case may be, serves as a director of MutualFirst or the Bank.

Notwithstanding anything in this Agreement to the contrary, at the sole option of MutualFirst, the Standstill Period may be terminated by MutualFirst in the event that the beneficial ownership of the PL Capital Parties decreases below 5% of the outstanding shares of MutualFirst common stock (in which event Mr. Lashley or the Substitute, as the case may be, shall promptly submit his resignation as a director of MutualFirst and the Bank).

 

4.            Non-Disparagement

During the Standstill Period, the PL Capital Parties agree not to disparage MutualFirst or any officers, directors (including director nominees) or employees of MutualFirst or its affiliates or subsidiaries in any public or quasi-public forum, and MutualFirst agrees not to disparage any of the PL Capital Parties or any officers, partners or employees of the PL Capital Parties in any public or quasi-public forum.

5.            PL Capital Nominees

MutualFirst agrees that if either Mr. Lashley or any Substitute is unable to serve as a director, resigns as a director or is removed as a director of MutualFirst or the Bank prior to the expiration of the Standstill Period, then the MutualFirst or the Bank's Board of Directors, as applicable, shall appoint a substitute director, selected by the PL Capital Parties and subject to the approval of the applicable Board of Directors, in its discretion, after exercising its fiduciary duties in good faith, which approval shall not be unreasonably withheld or delayed (any such substitute director, a "Substitute"), to fill the resulting vacancy in the class of directors with terms expiring at the conclusion of the 2017 annual meeting of stockholders.

6.            Authority

Each of the Parties that is a corporation or other legal entity and each individual Party executing this Agreement on behalf of a corporation or other legal entity, represents and warrants that: (a) such corporation or other legal entity is duly organized, validly authorized and in good standing, and possesses full power and authority to enter into and perform the terms of this Agreement; (b) the execution, delivery and performance of the terms of this Agreement have been duly and validly authorized by all requisite acts and consents of the company or other legal entity and do not contravene the terms of any other obligation to which the corporation or other legal entity is subject; and (c) this Agreement constitutes a legal, binding and valid obligation of each such entity, enforceable in accordance with its terms.

  

4

7.            Expenses

All costs and expenses incurred in connection with this Agreement shall be paid by the party incurring such expenses.

8.            Amendment In Writing

This Agreement and each of its terms may only be amended, waived, supplemented or modified in a writing signed by the signatories hereto or their respective clients.

9.            Governing Law/Venue/Jurisdiction

This Agreement, and the rights and liabilities of the Parties hereto, shall be governed by and construed in accordance with the laws of the State of Maryland without regard to conflict of law provisions.  The venue and jurisdiction for adjudication of any and all disputes between the Parties to this Agreement shall be in the State of Maryland Circuit Court in and for Baltimore County.

10.            Notice of Breach and Remedies

The Parties expressly agree that an actual or threatened breach of this Agreement by any Party will give rise to irreparable injury that cannot adequately be compensated by damages. Accordingly, in addition to any other remedy to which it may be entitled, each Party shall be entitled to seek a temporary restraining order or injunctive relief to prevent a breach of the provisions of this Agreement or to secure specific enforcement of its terms and provisions.

The PL Capital Parties expressly agree that they will not be excused or claim to be excused from performance under this Agreement as a result of any material breach by MutualFirst unless and until MutualFirst is given written notice of such breach and thirty (30) business days either to cure such breach or for MutualFirst to seek relief in court.  If MutualFirst seeks relief in court, the PL Capital Parties irrevocably stipulate that any failure to perform by the PL Capital Parties shall be deemed to constitute irreparable harm under this Agreement, therefore MutualFirst shall not be required to provide further proof of irreparable harm in order to obtain equitable relief and the PL Capital Parties shall not deny or contest that such circumstances would cause MutualFirst irreparable harm.  If, after such thirty (30) business day period, MutualFirst has not either reasonably cured such material breach or obtained relief in court, the PL Capital Parties may terminate this Agreement by delivery of written notice to MutualFirst.

MutualFirst expressly agrees that it will not be excused or claim to be excused from performance under this Agreement as a result of any material breach by the PL Capital Parties or any of them unless and until the PL Capital Parties are given written notice of such breach and thirty (30) business days either to cure such breach or for the PL Capital Parties to seek relief in court.  If the PL Capital Parties seek relief in court, MutualFirst irrevocably stipulates that any failure to perform by MutualFirst shall be deemed to constitute irreparable harm under this Agreement, therefore the PL Capital Parties shall not be required to provide further proof of

  

5

irreparable harm in order to obtain equitable relief and MutualFirst shall not deny or contest that such circumstances would cause the PL Capital Parties irreparable harm.  If, after such thirty (30) business day period, the PL Capital Parties have not either reasonably cured such material breach or obtained relief in court, MutualFirst may terminate this Agreement by delivery of written notice to the PL Capital Parties.

11.            Counterparts

This Agreement may be executed in counterparts, each of which shall be considered to be an original or true copy of this Agreement.  Faxed or emailed signatures shall be presumed valid.

12.            Nonwaiver

The failure of any one of the Parties to insist upon strict adherence to any term of this Agreement on any occasion shall not be considered a waiver thereof or deprive the Parties of the right thereafter to insist upon strict adherence to that term or any other term of this Agreement.

13.            Disclosure of This Agreement

The parties contemplate that the PL Capital Parties will file a Schedule 13D amendment attaching this Agreement, that MutualFirst will file a Form 8-K attaching this Agreement and that during the Standstill Period there will be no other public comments (except as required by applicable law, including regulations of the Securities and Exchange Commission) by the Parties regarding this Agreement other than a press release by MutualFirst factually summarizing this Agreement and referring to the Form 8-K filing, which press release shall be subject to prior approval by the PL Capital Parties (such approval not to be unreasonably withheld).

14.            Entire Agreement

This Agreement constitutes the full, complete and entire understanding, agreement, and arrangement of and between the Parties with respect to the subject matter hereof and supersedes any and all prior oral and written understandings, agreements and arrangements between them.  There are no other agreements, covenants, promises or arrangements between the Parties other than those set forth in this Agreement (including the attachments hereto).

15.            Notice

All notices and other communications which are required or permitted hereunder shall be in writing, and sufficient if by same-day hand delivery (including delivery by courier) or sent by fax, addressed as follows:

  

6

If to MutualFirst:

David W. Heeter

President and Chief Executive Officer

MutualFirst Financial, Inc.

110 E. Charles Street

Muncie, IN 47305

Fax: (765) 213-2981

with a copy, which will not constitute notice, to:

James S. Fleischer, Esq. and

Martin L. Meyrowitz, P.C.

Silver, Freedman, Taff & Tiernan LLP

3299 K Street, N.W., Suite 100

Washington, DC  20007

Fax: (202) 337-5502

If to the PL Capital Parties:

Richard J. Lashley

PL Capital, LLC

67 Park Place East

Suite 675

Morristown, New Jersey 07960

Fax: (973) 539-5404

with a copy, which will not constitute notice, to:

Joseph P. Vitale, Esq.

Schulte Roth & Zabel LLP

919 Third Avenue

New York, New York 10022

Fax: ( 212  )  593-5955

16.            Termination

This Agreement shall cease, terminate and have no further force and effect upon the expiration of the last day of the Standstill Period as set forth in Section 3, unless earlier terminated pursuant to Section 10 hereof or by mutual written agreement of the Parties.

17.            Further Assurances

The PL Capital Parties and MutualFirst agree to take, or cause to be taken, all such further or other actions as shall reasonably be necessary to make effective and consummate the transactions contemplated by this Agreement.

7

18.            Successors and Assigns

All covenants and agreements contained herein shall bind and inure to the benefit of the parties hereto and their respective successors and assigns.

19.            No Third Party Beneficiaries

This Agreement is solely for the benefit of the parties and is not enforceable by any other person.

[Signature page follows]

 

 

 

 

 

 

8

IN WITNESS WHEREOF, the Parties hereto have each executed this Agreement on the date set forth below.

Dated:            February 26, 2015

	
For:            Financial Edge Fund L.P.

Financial Edge - Strategic Fund L.P.

PL Capital Focused Fund L.P.

Goodbody/PL Capital L.P.

PL Capital LLC

PL Capital Advisors LLC

Goodbody/PL Capital LLC

	 	 
	 	 
	 	 
	 	
 

 

            /s/ John W. Palmer  

John W. Palmer

	 	 	 
	
By:            /s/ Richard J. Lashley

Richard J. Lashley

Managing Member

	 	
/s/ Richard J. Lashley    

Richard J. Lashley

	
 

 

By:              /s/ John W. Palmer  

Managing Member

 

	 	 
	 	 	 
	 	 	 
	
For:      MutualFirst Financial, Inc.

 

By:              /s/ David W. Heeter

David W. Heeter

President and Chief Executive

Officer

 

	 	 

9

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