Document:

EXHIBIT 10.5

 

 

OMNIBUS AMENDMENT TO 2014 TRANSACTION DOCUMENTS AND 2015 TRANSACTION DOCUMENTS

This Omnibus Amendment to 2014 Transaction Documents and 2015 Transaction Documents (this "Amendment") dated as of December 30, 2015 (the "Effective Date"), is entered into by and among (i) MELA Sciences, Inc., a Delaware corporation (the "Company"), (ii) the holders identified on the signature pages hereto (the "2015 Purchasers" and each, a "2015 Purchaser") of (A) the Company's 2.25% Series A Senior Secured Convertible Debentures due June 22, 2020 (the "2015 Series A Debentures"), (B) the Company's 2.25% Series B Unsecured Convertible Debentures due June 22, 2020 (the "2015 Series B Debentures" and together with the 2015 Series A Debentures, the "2015 Debentures"), and (C) the Company's 9% Senior Secured Notes (the "Notes" and, together with the 2015 Debentures, the "2015 Debt Securities"), in each case issued pursuant to that certain Securities Purchase Agreement dated as of June 22, 2015 (as amended, the "Purchase Agreement") entered into by and among, inter alios,  the Company and the 2015 Purchasers, and (iii) the holders identified on the signature pages hereto (the "2014 Purchasers" and each, a "2014 Purchaser" and, the 2014 Purchasers together with the 2015 Purchasers, the "Purchasers") of the Company's 4% Senior Secured Convertible Debentures due July 24, 2019 (the "2014 Debentures" and, together with the 2015 Debentures, the "Debentures"), issued pursuant to that certain Securities Purchase Agreement dated as of July 21, 2014 (as amended, the "2014 Purchase Agreement" and, together with the 2015 Purchase Agreement, the "Purchase Agreements") entered into by and among, inter alios, the Company and the 2014 Purchasers.

1.            Purpose.  In connection with a Credit and Security Agreement dated as of the date of this Amendment (the "Senior Loan Agreement") among, inter alios, the Company and Midcap Financial Trust, a Delaware statutory trust (the "Senior Agent"), the proceeds of the loan advanced under which are being used, in part, to repay in full the Notes, the Company has requested that the Purchasers agree to amend, as set forth herein, (i) each of the Transaction Documents (as such term is defined in the 2014 Purchase Agreement, being hereinafter referred to as the "2014 Transaction Documents"), and (ii) each of the Transaction Documents (as such term is defined in the 2015 Purchase Agreement, being hereinafter referred to as the "2015 Transaction Documents" and, together with the 2014 Transaction Documents, the "Transaction Documents"), and each of the Purchasers agrees to such amendments on and subject to the terms and conditions set forth herein and in reliance upon the representations and warranties of the Company, and the other purchasers set forth herein.

2.            Amendments to 2014 Transaction Documents.

(a)            The 2014 Purchase Agreement is hereby amended as follows:

i            The following is inserted at the top of the first page thereof:

"THIS AGREEMENT IS SUBJECT TO THAT CERTAIN SUBORDINATION AGREEMENT AMONG, INTER ALIOS, THE COMPANY AND MIDCAP FINANCIAL TRUST.  IN THE EVENT OF ANY CONFLICT BETWEEN THE TERMS OF THE SUBORDINATION AGREEMENT AND THIS AGREEMENT, THE TERMS OF THE SUBORDINATION AGREEMENT SHALL CONTROL."

ii            The following new definitions are inserted into Section 1.1 therein, each in its alphabetical order:

"IC Subordination Agreement" means that certain Subordination Agreement dated on or about December 30, 2015 made by and among the Company, Intracoastal Capital, LLC, and Midcap Financial Trust.

"Subordination Agreement" means that certain Subordination Agreement dated on or about December 30, 2015 made by and among the Company, Broadfin Healthcare Master Fund, Ltd., Sabby Healthcare Master Fund, Ltd., Sabby Volatility Warrant Master Fund, Ltd., and Midcap Financial Trust.

iii            The definition of "Trading Market" in Section 1.1 therein is amended and restated as follows:

"Trading Market" means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on the date in question:  the NYSE MKT, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, the New York Stock Exchange, the Over-the-Counter Bulletin Board, the OTCBX or the OTCBQ (or any successor to any of the foregoing).

iv            Sub-section 4.21(f) therein is amended and restated as follows:

(f) Transfers.  Except as expressly permitted by this Agreement or by the Senior Loan Documents (as defined in the Subordination Agreement), the Company and its Subsidiaries will not transfer or permit to be transferred, voluntarily or by operation of law, any interest in the Collateral, the Subsidiaries or assets of the Company or its Subsidiaries.  The Company or its Subsidiaries may create Subsidiaries so long as the Company and its Subsidiaries maintain the ownership and distributable equity interest percentages of not less than 100% as to new Subsidiaries and provides notice to the Major Investors thereof and delivers such additional assignments or amendments to the Security Documents satisfactory to the Major Investors covering such interests.

v            Sub-section 4.21(g) therein is amended and restated as follows:

(g) Other Agreements.  The Company and its Subsidiaries will not enter into any agreement that limits or restricts the ability of the Company or the Subsidiaries to comply with the terms of this Agreement and the other Transaction Documents, other than the Subordination Agreement, the Senior Loan Documents (as defined in the Subordination Agreement and the IC Subordination Agreement).

(b)            The Security Agreement (as defined in the 2014 Purchase Agreement) is hereby amended as follows:

i            The following is inserted at the top of the first page thereof:

"THIS AGREEMENT IS SUBJECT TO THAT CERTAIN SUBORDINATION AGREEMENT AMONG, INTER ALIOS, THE COMPANY AND MIDCAP FINANCIAL TRUST.  IN THE

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EVENT OF ANY CONFLICT BETWEEN THE TERMS OF THE SUBORDINATION AGREEMENT AND THIS AGREEMENT, THE TERMS OF THE SUBORDINATION AGREEMENT SHALL CONTROL."

ii            Sub-section 4(c) therein is amended and restated as follows:

(c) Except for Permitted Liens, each of the Debtors is the sole owner of the Collateral it purports to own (except for non-exclusive licenses granted by any Debtor in the ordinary course of business), free and clear of any Liens and is fully authorized to grant the Security Interests. Except as set forth on Schedule 4.(c) attached hereto, there is not on file in any governmental or regulatory authority, agency or recording office an effective financing statement, security agreement, license or transfer or any notice of any of the foregoing (other than those that will be filed in favor of the Secured Parties pursuant to this Agreement) covering or affecting any of the Collateral, other than in respect of Senior Loans. Except as set forth on Schedule 4.(c) attached hereto and except pursuant to this Agreement, as long as this Agreement shall be in effect, the Debtors shall not execute and shall not knowingly permit to be on file in any such office or agency any other financing statement or other document or instrument (except to the extent filed or recorded in favor of the Secured Parties pursuant to the terms of this Agreement), other than in respect of Senior Loans.

(c)            Each of the 2014 Debentures is hereby amended as follows:

i            The term "Maturity Date" in each of the 2014 Debentures is amended to June 30, 2021.

ii            The first page of each of the 2014 Debentures is amended by inserting at the top thereof the following:

"THIS DEBENTURE IS SUBJECT TO THAT CERTAIN SUBORDINATION AGREEMENT AMONG, INTER ALIOS, THE HOLDER AND MIDCAP FINANCIAL TRUST.  IN THE EVENT OF ANY CONFLICT BETWEEN THE TERMS OF THE SUBORDINATION AGREEMENT AND THIS DEBENTURE, THE TERMS OF THE SUBORDINATION AGREEMENT SHALL CONTROL."

iii            Section 1 of each of the 2014 Debentures is amended by deleting the definition of "Permitted Indebtedness" therein and replacing such definition with the following:

"Permitted Indebtedness" means (a) the indebtedness evidenced by the Debentures, (b) the Indebtedness set forth on Schedule 3.1(aa) attached to the Purchase Agreement, (c) lease obligations and purchase money indebtedness of up to $150,000, in the aggregate per year, incurred in connection with the acquisition of capital assets and lease obligations with respect to newly acquired or leased assets, (d) other indebtedness incurred in the ordinary course of business up to $250,000 at any time outstanding, and (e) the Senior Loans (as defined in the Subordination Agreement).

iv            Section 1 of each of the 2014 Debentures is amended by deleting the definition of "Permitted Liens" therein and replacing such definition with the following:

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"Permitted Lien" means the individual and collective reference to the following: (a) Liens for taxes, assessments and other governmental charges or levies not yet due or Liens for taxes, assessments and other governmental charges or levies being contested in good faith and by appropriate proceedings for which adequate reserves (in the good faith judgment of the management of the Company) have been established in accordance with GAAP, (b) Liens imposed by law which were incurred in the ordinary course of the Company's business, such as carriers', warehousemen's and mechanics' Liens, statutory landlords' Liens, and other similar Liens arising in the ordinary course of the Company's business, and which (x) do not individually or in the aggregate materially detract from the value of such property or assets or materially impair the use thereof in the operation of the business of the Company and its consolidated Subsidiaries or (y) are being contested in good faith by appropriate proceedings, which proceedings have the effect of preventing for the foreseeable future the forfeiture or sale of the property or asset subject to such Lien, (c) Liens incurred in connection with Permitted Indebtedness under clauses (a), (b) and (e) thereunder, and (d) Liens incurred in connection with Permitted Indebtedness under clause (c) thereunder, provided that such Liens are not secured by assets of the Company or its Subsidiaries other than the assets so acquired or leased.

v            Section 7 of each of the 2014 Debentures is amended by deleting sub-section (e) therein and replacing it with the following:

"e) except for regularly scheduled principal and interest payments as such terms are in effect as of the Original Issue Date or otherwise permitted hereunder during periods when no Event of Default exists or would be result from the making of such payment, repay, repurchase or offer to repay, repurchase or otherwise acquire any Indebtedness other than (i) the Debentures, repaid on a pro-rata basis, or (ii) Senior Loans;

vi            Section 8 of each of the 2014 Debentures is amended by deleting sub-section (a)(vi) therein and replacing it with the following:

"(vi) the Company or any Subsidiary shall default on any of its obligations under any mortgage, credit agreement or other facility, indenture agreement, factoring agreement or other instrument under which there may be issued, or by which there may be secured or evidenced, any indebtedness for borrowed money or money due under any long term leasing or factoring arrangement, other than Senior Loans, that (a) involves an obligation greater than $150,000, whether such; indebtedness now exists or shall hereafter be created, and (b) results in such indebtedness becoming or being declared due and payable prior to the date on which it would otherwise become due and payable;

3.            Amendments to 2015 Transaction Documents.

(a)            The 2015 Purchase Agreement is hereby amended as follows:

i            The following is inserted at the top of the first page thereof:

"THIS AGREEMENT IS SUBJECT TO THAT CERTAIN SUBORDINATION AGREEMENT AMONG, INTER ALIOS, THE COMPANY AND MIDCAP FINANCIAL TRUST.  IN THE EVENT OF ANY CONFLICT BETWEEN THE TERMS OF THE SUBORDINATION

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AGREEMENT AND THIS AGREEMENT, THE TERMS OF THE SUBORDINATION AGREEMENT SHALL CONTROL."

ii            The following new definitions are inserted into Section 1.1 therein, each in its alphabetical order:

"IC Subordination Agreement" means that certain Subordination Agreement dated on or about December 30, 2015 made by and among the Company, Intracoastal Capital, LLC, and Midcap Financial Trust.

"Subordination Agreement" means that certain Subordination Agreement dated on or about December 30, 2015 made by and among the Company, Broadfin Healthcare Master Fund, Ltd., Sabby Healthcare Master Fund, Ltd., Sabby Volatility Warrant Master Fund, Ltd., and Midcap Financial Trust.

iii            The definition of "Trading Market" in Section 1.1 therein is amended and restated as follows:

"Trading Market" means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on the date in question:  the NYSE MKT, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, the New York Stock Exchange, the Over-the-Counter Bulletin Board, the OTCBX or the OTCBQ (or any successor to any of the foregoing).

iv            Sub-section 4.21(f) therein is amended and restated as follows:

(f) Transfers.  Except as expressly permitted by this Agreement or by the Senior Loan Documents (as defined in the Subordination Agreement), the Company and its Subsidiaries will not transfer or permit to be transferred, voluntarily or by operation of law, any interest in the Collateral, the Subsidiaries or assets of the Company or its Subsidiaries.  The Company or its Subsidiaries may create Subsidiaries so long as the Company and its Subsidiaries maintain the ownership and distributable equity interest percentages of not less than 100% as to new Subsidiaries and provides notice to the Major Investors thereof and delivers such additional assignments or amendments to the Security Documents satisfactory to the Major Investors covering such interests.

v            Sub-section 4.21(g) therein is amended and restated as follows:

(g) Other Agreements.  The Company and its Subsidiaries will not enter into any agreement that limits or restricts the ability of the Company or the Subsidiaries to comply with the terms of this Agreement and the other Transaction Documents, other than the Subordination Agreement, the Senior Loan Documents (as defined in the Subordination Agreement and the IC Subordination Agreement).

(b)            The Security Agreement (as defined in the 2015 Purchase Agreement) is hereby amended as follows:

i            The following is inserted at the top of the first page thereof:

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"THIS AGREEMENT IS SUBJECT TO THAT CERTAIN SUBORDINATION AGREEMENT AMONG, INTER ALIOS, THE COMPANY AND MIDCAP FINANCIAL TRUST.  IN THE EVENT OF ANY CONFLICT BETWEEN THE TERMS OF THE SUBORDINATION AGREEMENT AND THIS AGREEMENT, THE TERMS OF THE SUBORDINATION AGREEMENT SHALL CONTROL."

ii            Sub-section 4(c) therein is amended and restated as follows:

(c) Except for Permitted Liens, each of the Debtors is the sole owner of the Collateral it purports to own (except for non-exclusive licenses granted by any Debtor in the ordinary course of business), free and clear of any Liens and is fully authorized to grant the Security Interests. Except as set forth on Schedule 4.(c) attached hereto, there is not on file in any governmental or regulatory authority, agency or recording office an effective financing statement, security agreement, license or transfer or any notice of any of the foregoing (other than those that will be filed in favor of the Secured Parties pursuant to this Agreement) covering or affecting any of the Collateral, other than in respect of Senior Loans. Except as set forth on Schedule 4.(c) attached hereto and except pursuant to this Agreement, as long as this Agreement shall be in effect, the Debtors shall not execute and shall not knowingly permit to be on file in any such office or agency any other financing statement or other document or instrument (except to the extent filed or recorded in favor of the Secured Parties pursuant to the terms of this Agreement), other than in respect of Senior Loans.

(c)            Each of the 2015 Debentures is hereby amended as follows:

i            The term "Maturity Date" in each of the 2015 Debentures is amended to June 30, 2021.

ii            The first page of each of the 2015 Debentures is amended by inserting at the top thereof the following:

"THIS DEBENTURE IS SUBJECT TO THAT CERTAIN SUBORDINATION AGREEMENT AMONG, INTER ALIOS, THE HOLDER AND MIDCAP FINANCIAL TRUST.  IN THE EVENT OF ANY CONFLICT BETWEEN THE TERMS OF THE SUBORDINATION AGREEMENT AND THIS DEBENTURE, THE TERMS OF THE SUBORDINATION AGREEMENT SHALL CONTROL."

iii            Section 1 of each of the 2015 Debentures is amended by deleting the definition of "Permitted Indebtedness" therein and replacing such definition with the following:

"Permitted Indebtedness" means (a) the indebtedness evidenced by the Series A Debentures and the Notes, (b) the Indebtedness existing on the Original Issue Date and set forth on Schedule 3.1(aa) attached to the Purchase Agreement, (c) the indebtedness evidenced by the Series B Debentures, (d) lease obligations and purchase money indebtedness of up to $150,000, in the aggregate per year, incurred in connection with the acquisition of capital assets and lease obligations with respect to newly acquired or leased assets, (e) other indebtedness incurred in the ordinary course of business up to $250,000 at any time outstanding, and (f) the Senior Loans (as defined in the Purchase Agreement).

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iv            Section 1 of each of the 2015 Debentures is amended by deleting the definition of "Permitted Lien" therein and replacing such definition with the following:

"Permitted Lien" means the individual and collective reference to the following: (a) Liens for taxes, assessments and other governmental charges or levies not yet due or Liens for taxes, assessments and other governmental charges or levies being contested in good faith and by appropriate proceedings for which adequate reserves (in the good faith judgment of the management of the Company) have been established in accordance with GAAP, (b) Liens imposed by law which were incurred in the ordinary course of the Company's business, such as carriers', warehousemen's and mechanics' Liens, statutory landlords' Liens, and other similar Liens arising in the ordinary course of the Company's business, and which (x) do not individually or in the aggregate materially detract from the value of such property or assets or materially impair the use thereof in the operation of the business of the Company and its consolidated Subsidiaries or (y) are being contested in good faith by appropriate proceedings, which proceedings have the effect of preventing for the foreseeable future the forfeiture or sale of the property or asset subject to such Lien, (c) Liens incurred in connection with Permitted Indebtedness under clauses (a), (b) and (f) thereunder, and (d) Liens incurred in connection with Permitted Indebtedness under clause (d) thereunder, provided that such Liens are not secured by assets of the Company or its Subsidiaries other than the assets so acquired or leased.

v            Section 7 of each of the 2015 Debentures is amended by deleting sub-section (e) therein and replacing it with the following:

"e) except for regularly scheduled principal and interest payments as such terms are in effect as of the Original Issue Date or otherwise permitted hereunder during periods when no Event of Default exists or would be result from the making of such payment, repay, repurchase or offer to repay, repurchase or otherwise acquire any Indebtedness other than (i) the Debt Securities, repaid on a pro-rata basis, or (ii) Senior Loans;

vi            Section 8 of each of the 2015 Debentures is amended by deleting sub-section (a)(vi) therein and replacing it with the following:

"(vi) the Company or any Subsidiary shall default on any of its obligations under any mortgage, credit agreement or other facility, indenture agreement, factoring agreement or other instrument under which there may be issued, or by which there may be secured or evidenced, any indebtedness for borrowed money or money due under any long term leasing or factoring arrangement, other than Senior Loans, that (a) involves an obligation greater than $150,000, whether such; indebtedness now exists or shall hereafter be created, and (b) results in such indebtedness becoming or being declared due and payable prior to the date on which it would otherwise become due and payable;

4.            Representations and Warranties.

(a)            The Company represents and warrants to the Purchasers that (i) the Purchasers are the only holders of Debentures registered on the Debenture Register (as defined in the Debentures) as of the date of this Amendment, (ii) there are no debt securities issued by the Company outstanding as of the date of this Amendment other than the Debentures, the Notes and

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(b)            the Senior Loans (as defined in the Subordination Agreement), (iii) concurrently with the execution of this Amendment, Intracoastal Capital, LLC ("IC"), the Company and Senior Agent are entering into a Subordination Agreement in the form attached hereto as Exhibit A (the "IC Subordination Agreement"), pursuant to which IC is subordinating the 2015 Series B Debentures held by IC on substantially the same terms as Broadfin Healthcare Master Fund Ltd. ("Broadfin HMF"), Sabby Healthcare Master Fund, Ltd. ("Sabby HMF") and Sabby Volatility Warrant Master Fund, Ltd. ("Sabby VWMF" and, together with Sabby HMF, "Sabby") are subordinating the 2015 Series A Debentures and 2014 Debentures held by them, respectively, pursuant to the Subordination Agreement (as defined the Purchase Agreements after giving effect to this Amendment); (iv) according to the Company's share register, as of the date hereof the Purchasers are the only holders of Securities (as such term is defined in each of the Debentures), (v) after giving effect to this Amendment, no Event of Default (as such term is defined in each of the Debentures) exists; (vi) the Company has performed and complied with all covenants, agreements, obligations and conditions contained in each of the Purchase Agreements and the other Transaction Documents that are required to be performed or complied with by it; and (vii) no injunction or restraining order is in effect prohibiting the transactions contemplated hereby.  The Company acknowledges, confirms and agrees that, as of the date hereof, the Company has no knowledge of any offsets, defenses, claims or counterclaims against any Purchaser with respect to any of the Company's liabilities and obligations to any of the Purchasers under the Transaction Documents.

(c)            Each of the Purchasers represents and warrants to the Company that such Purchaser, without having conducted any investigation, does not know of any injunction or restraining order in effect prohibiting such Purchaser from consummating the transactions contemplated hereby.

(d)            IC represents and warrants to each of the other Purchasers that (i) neither IC nor any of its Affiliates (as defined in the Purchase Agreements) holds any Debentures or any other debt securities of the Company, except as set forth on the signature pages hereto, and (ii) concurrently with the execution of this Amendment, the Company, IC and Senior Agent are entering into the IC Subordination Agreement.

5.            Conditions Precedent to Effectiveness.  This Amendment will become effective upon (the "Effective Date"):

(a)            receipt by each of Broadfin HMF and Sabby of counterparts, executed by the Company and each Purchaser, of this Amendment;

(b)            receipt by Broadfin HMF of the amount set forth opposite its name on Schedule A hereto, in repayment of the Note held by Broadfin HMF and for reimbursement of expenses in connection herewith;

(c)            receipt by Sabby HMF of the amount set forth opposite its name on Schedule A hereto, in repayment of the Note held by Sabby HMF; and

(d)            receipt by each of Broadfin HMF and Sabby of:

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i            a copy of the IC Subordination agreement, executed by each of IC, Senior Agent and the Company; and

ii            counterparts, executed by the Company and the Senior Agent, of the Subordination Agreement.

6.            Consents.  Each of the Purchasers hereby consents to (a) repayment of the Notes in accordance with this Amendment, and (b) repayment in full, substantially concurrently with the execution of this Amendment, of the 2014 Debentures held by IC in the amount of $102,512.04.

7.            Miscellaneous.  Except as expressly amended herein, all of the terms and conditions of the Transaction Documents remain unchanged and in full force and effect, and each Transaction Document is hereby ratified and confirmed.  This Amendment may be executed in counterparts, each of which shall constitute an original but all of which shall together constitute one and the same Amendment.  The execution of this Amendment and acceptance of any documents related hereto will not be deemed to be a waiver of any breach, or Event of Default (as such term is defined in each of the Purchase Agreements) under the Transaction Documents, whether or not known to any Purchaser and whether or not existing on the date of this Amendment.  Any determination that any provision of this Amendment or any application hereof is invalid, illegal or unenforceable in any respect and in any instance will not affect the validity, legality, or enforceability of such provision in any other instance, or the validity, legality or enforceability of any other provisions of this Amendment.  All rights and obligations hereunder, including matters of construction, validity, and performance, will be governed by and construed in accordance with the law of the State of New York, without regard to the conflicts of law provisions of the State of New York or of any other state.

[Signature Pages Follow]

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IN WITNESS WHEREOF, the parties have caused this Omnibus Amendment to 2014 Transaction Documents and 2015 Transaction Documents to be duly executed and delivered by their proper and duly authorized representatives as of the date and year first written above.

COMPANY:

MELA SCIENCES, INC.

By:        /s/ Michael R. Stewart                            

Michael R. Stewart

Chief Executive Officer

[SIGNATURE PAGES OF PURCHASERS FOLLOW]

[SIGNATURE PAGE OF PURCHASER TO MELA OMNIBUS AMENDMENT TO 2014 TRANSACTION DOCUMENTS AND 2015 TRANSACTION DOCUMENTS]

Name of Investing Entity:  BROADFIN HEALTHCARE MASTER FUND, LTD.

Signature of Authorized Signatory of Investing Entity:       /s/ Kevin Kotler                                                                                                                                                                                                 

Name of Authorized Signatory:        Kevin Kotler                                                                                                                                                                                

Title of Authorized Signatory:          Director                                                                                                                                                                              

Debt Securities held:

2014 Debentures:  $967,458.69

2015 Series A Debentures:  $15,000,000

2015 Series B Debentures:  none

Notes:  $5,000,000

[SIGNATURE PAGE OF PURCHASER TO MELA OMNIBUS AMENDMENT TO 2014 TRANSACTION DOCUMENTS AND 2015 TRANSACTION DOCUMENTS]

Name of Investing Entity:  SABBY HEALTHCARE MASTER FUND, LTD.

Signature of Authorized Signatory of Investing Entity:       /s/ Robert Grunstein                                                                                                                                                                                        

Name of Authorized Signatory:        Robert Grunstein                                                                                                                                                                                

Title of Authorized Signatory:          COO

        

Debt Securities held:

2014 Debentures:  $5,600,941.70

2015 Series A Debentures:  $12,000,000

2015 Series B Debentures:  none

Notes:  $5,000,000

[SIGNATURE PAGE OF PURCHASER TO MELA OMNIBUS AMENDMENT TO 2014 TRANSACTION DOCUMENTS AND 2015 TRANSACTION DOCUMENTS]

Name of Investing Entity:  SABBY VOLATILITY WARRANT MASTER FUND, LTD.

Signature of Authorized Signatory of Investing Entity:       /s/ Robert Grunstein                                                                                                                                                                                        

Name of Authorized Signatory:        Robert Grunstein                                                                                                                                                                                

Title of Authorized Signatory:          COO

Debt Securities held:

2014 Debentures:  $1,505,778.12

2015 Series A Debentures:  $5,000,000

2015 Series B Debentures:  none

Notes:  none

[SIGNATURE PAGE OF PURCHASER TO MELA OMNIBUS AMENDMENT TO 2014 TRANSACTION DOCUMENTS AND 2015 TRANSACTION DOCUMENTS]

Name of Investing Entity:  INTRACOASTAL CAPITAL, LLC

Signature of Authorized Signatory of Investing Entity:       /s/ Keith Goodman                                                                                                                                                                                    

Name of Authorized Signatory:        Keith Goodman                                                                                                                                                                                

Title of Authorized Signatory:          Authorized Signatory 

                                                                                                                

Debt Securities held:

2014 Debentures:  $102,512.04

2015 Series A Debentures:  none

2015 Series B Debentures:  $465,473.75

Notes:  none

Schedule A

Note Payoff Amounts

1.            Broadfin HMF

	
Note Repayment:

	 	
$

	
5,123,333.33

	 
	
Expense Reimbursement:

	 	
$

	
35,000.00

	 
	 	 	 	 	 
	
Total:

	 	
$

	
5,158,333.33

	 
	 	 	 	 	 
	
plus $1,666.67 per diem interest if paid later than December 30, 2015.

	 
	 	 	 	 	 
	
UBS AG Stamford Brand

	 
	
a/c UBS Securities LLC HFS Intl. Settl.

	 
	
ABA 026007993

	 
	
Account 101- WA-797414-000

	 
	
Ref: 750-01147 Broadfin Healthcare Master Fund, Ltd.

	 

2:            Sabby

	
Note Repayment:

	 	
$

	
5,123,333.33

	 
	 	 	 	 	 
	
Total:

	 	
$

	
5,123,333.33

	 
	 	 	 	 	 
	
plus $1,666.67 per diem interest if paid later than December 30, 2015.

	 

[l]

Exhibit A

IC Subordination AgreementEX-10.1

 Exhibit 10.1 

EMPLOYMENT AGREEMENT 

THIS EMPLOYMENT AGREEMENT (the “Agreement”) by and between National CineMedia, Inc. (the “Company or
Employer”), and Andrew J. England (the “Executive,” and together with the Company or Employer, the “Parties”), is entered into as of December 31st, 2015 (the “Execution
Date”). In consideration of the covenants and agreements contained herein, the Parties agree as follows: 
 1.
Employment. The Employer agrees to employ Executive and Executive agrees to be employed by the Employer, beginning as of January 1, 2016 (the “Effective Date”) and Executive’s employment under this Agreement shall
terminate on the earlier of (i) December 31, 2018 and (ii) the termination of Executive’s employment under this Agreement. The period from the Effective Date until the termination of Executive’s employment under this Agreement is
referred to as the “Employment Period.” To the extent Executive remains employed by the Company after the expiration of the Employment Period, such employment shall be subject to the terms and conditions to which the Company and
Executive at that time shall agree. 
 2. Positions and Authority. Executive shall serve in the position of Chief Executive Officer
of the Employer, reporting to the Board of Directors of the Company (the “Board”) or in such other positions as the Parties may agree. 

Executive agrees to serve in the position referred to in this Section 2 and to perform diligently and to the best of his abilities
the duties and services appertaining to such offices as set forth in the Bylaws of the Company in effect from time to time, as well as such additional duties and services appropriate to such offices that the Parties may agree upon from time to time.

 During the Employment Period, Executive shall devote his full business time and efforts to the business and affairs of the Company and
its subsidiaries, provided that the Executive shall be entitled to serve as a member of the board of directors of a reasonable number of other companies, to serve on civic, charitable, educational, religious, public interest or public service
boards, and to manage the Executive’s personal and family investments, in each case, to the extent such activities do not materially interfere with the performance of the Executive’s duties and responsibilities hereunder. Executive shall
not become a director of any for profit entity without first receiving the approval of the Board, which shall not be unreasonably withheld. 

3. Compensation and Benefits. 

(a) Sign-On Compensation. In consideration of the commencement of Executive’s employment hereunder Executive shall receive a
time-based restricted share award granted effective on the commencement of employment, with a grant date fair market value equal to $750,000, the number of shares to be determined by dividing such amount by the average closing share price of the
Company’s common stock as reported on the NASDAQ for the 30 days immediately prior to the Execution Date, with vesting to occur in three equal installments on each of the first three anniversaries of the grant date (the “Initial
Equity”), subject to Executive’s continued employment through each applicable vesting date. The Initial Equity shall (i) be issued under the Company’s current Incentive Compensation Plan (the “Current Plan”)
and (ii) be subject to the Company’s standard form of time-based restricted share 

 
award agreement. The Initial Equity shall be subject to accelerated vesting in the event of Executive’s death, Disability (defined below), an Involuntary Termination (defined below), or a
Change in Control (defined below). 
 (b) Base Salary. As compensation for Executive’s performance of Executive’s duties
hereunder, Company shall pay to Executive an initial Base Salary of $750,000 per year, payable in accordance with the normal payroll practices of the Company, less required deductions for state and federal withholding tax, social security and all
other employment taxes and payroll deductions. The Base Salary shall be reviewed for increases but not decreases by the Compensation Committee of the Board (the “Compensation Committee”) in good faith, based upon Executive’s
performance and the Company’s pay philosophy, not less often than annually. The term “Base Salary” shall refer to the Base Salary as may be in effect from time to time. 

(c) Annual Incentive Compensation. During the Employment Period, Executive shall be eligible to participate in an annual cash bonus
program maintained for senior executive officers of the Company (the “Annual Incentive Program” or the “Plan”), with a minimum target annual bonus equal to 100% of Base Salary (the “Target Bonus”)
for each year during the Employment Period in which Executive participates in the Annual Incentive Program. The actual amount of the annual bonus earned by and payable to Executive for any year or portion of a year, as applicable, shall be
determined upon the satisfaction of goals and objectives established by the Compensation Committee pursuant to the Plan, and shall be subject to such other terms and conditions of the Annual Incentive Program as in effect from time to time. Each
bonus paid under the Annual Incentive Program shall be paid to Executive no later than March 15th of the calendar year following the calendar year for which the bonus is earned. 

(d) Long-Term Incentive Grants. The Company shall provide to Executive, on an annual basis during the Employment Period, the
opportunity to receive a long-term incentive award with a grant date fair market value of at least $1,500,000 per annum, consisting of performance based restricted stock to be earned if at all by achievement of goals determined by the Compensation
Committee pursuant to the Plan, with the Compensation Committee deciding in the exercise of its judgment whether such goals have been achieved (which performance based restricted stock grant value shall comprise 75% of the total annual long term
incentive grant value) and which shall vest, if at all, upon the third anniversary of the grant date; and in addition time-vested restricted stock, comprising 25% of the total annual long term incentive grant value, which shall vest in three equal
installments on each of the first three anniversaries of the grant date. The number of shares issued shall be determined in accordance with Plan. The grant date fair value of each such award shall be determined by the Compensation Committee. (The
grants contemplated by this Section 3(d) are hereinafter collectively referred to as the “Annual Grants”). The Annual Grants to Executive shall be delivered through vehicles and designs that are generally consistent with
those awarded to the Company’s other senior executive officers in each year. 
 (e) Other Benefits. 

(i) Savings and Retirement Plans. Except as otherwise limited by applicable law, Executive shall be entitled to
participate in all qualified and non-qualified savings and retirement plans applicable generally to other senior executive officers of the Company, in accordance with the terms of the plans, as may be amended from time to time. 

  
 2 

 (ii) Welfare Benefit Plans. Except as otherwise limited by applicable law,
Executive and/or his eligible dependents shall be eligible to participate in and shall receive all benefits under the Company’s welfare benefit plans and programs applicable generally to other senior executive officers of the Company in
accordance with the terms of the plans, as may be amended from time to time. 
 (iii) Business Expenses. Subject to
Section 15, Executive shall be reimbursed for reasonable travel and other expenses incurred in the performance of Executive’s duties on behalf of the Company in a manner consistent with the Company’s policies regarding such
reimbursements, as may be in effect from time to time. 
 4. Termination of Employment. 

(a) Executive’s employment under this Agreement shall terminate upon the earliest to occur of: (i) the expiration of the term of this
Agreement pursuant to Section 1 hereof; (ii) Termination due to Disability; (iii) termination of Executive’s employment by the Company for any reason other than Termination due to Disability; (iv) Executive’s
death; or (v) termination of Executive’s employment by Executive for any reason. Upon the termination of Executive’s employment with the Company for any reason, Executive shall be deemed to have resigned from the Board if a member at
such time and all other positions with the Employer or any of its Affiliates (defined below) held by Executive as of the date immediately preceding his termination of employment. 

(b) If Executive’s employment ends for any reason, except as otherwise contemplated in this Section 4, Executive shall cease
to have any rights to salary, bonus (if any) or other benefits, other than (i) the earned but unpaid portion of Executive’s Base Salary through the date of termination or resignation, (ii) any annual, long-term, or other incentive
award that relates to a completed fiscal year or performance period, as applicable, and is payable (but not yet paid) on or before the date of termination or resignation, which shall be paid in accordance with the terms of such award, (iii) a
lump-sum payment in respect of accrued but unused vacation days at the Executive’s per-business-day Base Salary rate, (iv) any unpaid expense or other reimbursements due to Executive, and (v) any other amounts or benefits required to
be paid or provided by law or under any plan, program, policy or practice of the Company, provided that Executive shall not be entitled to any payment or benefit under any Company severance plan, or any replacement or successor plan (the
“Accrued Benefits”). 
 (c) Involuntary Termination. If Executive’s employment hereunder shall be terminated in
a manner constituting an Involuntary Termination, then in addition to the Accrued Benefits and subject to Section 15 and Executive’s continuing compliance with Section 6 of this Agreement: 

(i) the Company shall pay Executive on the sixtieth (60th) day following the effective date of such termination of
employment a lump sum cash payment in an amount equal to the Severance Amount (defined below); 

  
 3 

 (ii) the Company shall pay Executive an annual cash bonus for the year of
termination, payable at the same time as annual cash bonuses are paid to senior management, based on actual achievement of performance targets (as if Executive had remained employed through the end of the applicable performance period), subject,
however, to proration based on the number of days in the applicable performance period that had elapsed prior to the date of termination (the “Pro-Rata Bonus”); provided, however, that if the Involuntary Termination
occurs during a Covered Period (defined below) the foregoing bonus shall be based upon the Target Bonus before applying the proration and the payment shall be made in a lump sum on the sixtieth (60th) day following the effective date of such
termination of employment; 
 (iii) the Initial Equity shall vest in full; and 

(iv) for a period up to eighteen months, the Company (or its successor-in-interest) shall pay Executive monthly an amount equal
to 150% of the monthly premium paid by the Executive for COBRA coverage elected by Executive (as may be applicable to Executive, Executive’s spouse and dependents) under the Company’s group health and dental plans. 

(d) No Excise Tax Gross-Up; Possible Reduction in Payments. Executive is not entitled to any gross-up or other payment for golden
parachute excise taxes Executive may owe pursuant to Section 4999 of the Internal Revenue Code, as amended (the “Code”). In the event that any amounts payable pursuant to this Agreement or other payments or benefits otherwise
payable to Executive (a) constitute “parachute payments” within the meaning of Section 280G of the Code, and (b) but for this Section 4would be subject to the excise tax imposed by Section 4999 of the Code, then
such amounts payable under this Agreement and under such other plans, programs and agreements shall be either (i) delivered in full, or (ii) delivered as to such lesser extent which would result in no portion of such benefits being subject
to excise tax under Section 4999 of the Code, whichever of the foregoing amounts, taking into account the applicable federal, state and local income and employment taxes and the excise tax imposed by Section 4999 of the Code (and any
equivalent state or local excise taxes), results in the receipt by Executive, on an after-tax basis, of the greatest amount of benefits, notwithstanding that all or some portion of such benefits may be taxable under Section 4999 of the Code.
Any reduction in payments and/or benefits required by this Section 4 shall occur in the following order: (1) reduction of amounts payable under Section 4(b) or other cash payments, beginning with payments scheduled to occur soonest;
(2) reduction of vesting acceleration of equity awards (in reverse order of the date of the grant); and (3) reduction of other benefits paid or provided to Executive. 

5. Definitions. 
 (a)
“Cause” shall mean the occurrence of any one of the following, as determined by an express resolution of the independent members of the Board: 

(i) gross negligence or willful misconduct in the performance of, or Executive’s abuse of alcohol or drugs rendering
Executive unable to perform, the material duties and services required for Executive’s position with the Company, which neglect or misconduct, if remediable, remains unremedied for thirty (30) days following written notice of such by the
Company to Executive; 

  
 4 

 (ii) Executive’s conviction or plea of nolo contendere for any crime
involving moral turpitude or a felony; 
 (iii) Executive’s commission of an act of deceit or fraud intended to result
in personal and unauthorized enrichment of Executive at the expense of the Company or any of its affiliates; or 
 (iv)
Executive’s willful and material violation of the written policies of the Company or any of its affiliates as in effect from time to time, Executive’s willful breach of a material obligation of Executive to the Company pursuant to
Executive’s duties and obligations under the Company’s Bylaws, or Executive’s willful and material breach of a material obligation of Executive to the Company or any of its affiliates pursuant to this Agreement or any award or other
agreement between Executive and the Company or any of its affiliates. 
 No act or failure to act, on the part of the Executive, shall be
considered “willful” unless it is done, or omitted to be done, by the Executive in bad faith or without reasonable belief that the Executive’s action or omission was in the best interests of the Employer; and provided further that no
act or omission by the Executive shall constitute Cause hereunder unless the Employer has given detailed written notice thereof to the Executive, and the Executive has failed to remedy such act or omission. By way of clarification, but not
limitation, for purposes of this definition of the term Cause, materiality shall be determined relative to this Agreement and Executive’s employment, rather than the financial status of the Company as a whole. 

(b) “Change in Control” shall be deemed to have occurred upon the occurrence of: 

(i) The acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (a “Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 50% or more of either (x) the then
outstanding shares of common stock of the Company (the “Outstanding Company Common Stock”) or (y) the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of
directors (the “Outstanding Company Voting Securities”); provided, however, that for purposes of this subsection (i), the following acquisitions shall not constitute a Change in Control: (A) any acquisition
directly from the Company, (B) any acquisition by the Company, (C) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company, (D) any
acquisition by any corporation pursuant to a transaction which complies with clauses (A) or (B) of paragraph (iv) below, or (E) any acquisition by a Founding Member (as defined in the National CineMedia, LLC Third Amended and
Restated Limited Liability Operating Agreement, dated as of February 13, 2007); or 

  
 5 

 (ii) The acquisition by any Person, other than a Founding Member, of the right to
(A) elect or (B) nominate for election or (C) designate for nomination pursuant to a Director Designation Agreement dated February 13, 2007 among the Company and the Founding Members, a majority of the members of the
Company’s Board; 
 (iii) The acquisition by any Person, other than the Company or a Founding Member, of beneficial
ownership of more than 50% of the Units of NCM LLC; or 
 (iv) Consummation of a reorganization, merger or consolidation or
sale or other disposition of all or substantially all of the assets of the Company or an acquisition of assets of another corporation (a “Business Combination”), in each case, unless, following such Business Combination,
(A) (x) all or substantially all of the individuals and entities who were the beneficial owners, respectively, of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such Business Combination
beneficially own, directly or indirectly, more than 50% of, respectively, the then outstanding shares of common stock and the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors, as
the case may be, of the corporation resulting from such Business Combination (including, without limitation, a corporation which as a result of such transaction owns the Company or all or substantially all of the Company’s assets either
directly or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Business Combination of the Outstanding Company Common Stock and Outstanding Company Voting Securities, as the case may
be; and (y) at least a majority of the members of the board of directors of the corporation resulting from such Business Combination were individuals who, as of the Effective Date, constitute the Board (the “Incumbent Board”);
provided, however, that any individual becoming a director subsequent to the Effective Date whose election, or nomination for election by the Company’s stockholders, was approved by a vote of at least a majority of the directors then comprising
the Incumbent Board or was designated pursuant to a Director Designation Agreement dated February 13, 2007 among the Company and the Founding Members shall be considered as though such individual were a member of the Incumbent Board, at the
time of the execution of the initial agreement, or of the action of the Board, providing for such Business Combination or (B) the Founding Members beneficially own, more than 50% of, respectively, the outstanding shares of common stock or
voting power of the then outstanding voting securities entitled to vote generally in the election of directors of the corporation resulting from such Business Combination; or 

(v) Approval by the stockholders of the Company of a complete liquidation or dissolution of the Company; or 

(vi) Approval by the members of NCM LLC of a complete liquidation or dissolution of NCM LLC. 

  
 6 

 (c) “Covered Period” shall mean the period beginning on the date of a Change in
Control and ending twelve (12) months after the Change in Control. 
 (d) “Good Reason” shall mean the
Executive’s voluntary resignation of employment for one or more of the following reasons occurring without Executive’s consent: 

(i) a material adverse change in the nature, scope or status of the Executive’s position, authorities or duties
(specifically including, but not limited to, not being the Chief Executive Officer of the Company or Chief Executive Officer of NCM LLC, no longer being a member of the Board or the Board of Directors of NCM LLC, or no longer being the Chief
Executive Officer of a public company); 
 (ii) a material reduction in the Executive’s annual salary, Target Bonus,
long-term incentive award value, or material reduction to the Executive’s aggregate benefits, or other compensation plans; 

(iii) relocation of the Executive’s primary place of employment of more than
thirty-five (35) miles from the Executive’s primary place of employment immediately following the Effective Date; 

(iv) failure by an acquirer to assume this Agreement at the time of the Change of Control; or 

(v) a material breach by the Company, or its successor, of this Agreement. 

Notwithstanding the foregoing, prior to the Executive’s voluntary resignation for Good Reason, the Executive must give the Company
written notice of the existence of any condition set forth in clause (i) – (v) above within 90 days of such initial existence and the Company shall have 30 days from the date of such notice in which to cure the condition giving rise
to Good Reason, if curable. If, during such 30-day period, the Company cures the condition giving rise to Good Reason, no benefits shall be due under Section 4 of this Agreement with respect to such occurrence. If, during such 30-day period,
the Company fails or refuses to cure the condition giving rise to Good Reason and it is determined such Good Reason does exist, the Executive shall be entitled to benefits under Section 4 of this Agreement upon such Termination; provided such
Termination occurs within twelve (12) months of such initial existence of the applicable condition, but not later than the end of the Employment Period. 

(e) “Involuntary Termination” shall mean a termination during the Employment Period either: 

(i) By the Company, its Affiliates or successors, other than a termination for Cause; 

(ii) By Executive for Good Reason, or 

(iii) Expiration of the Employment Term. 

  
 7 

 (f) “Severance Amount” shall mean: 

(i) for an Involuntary Termination occurring during the Employment Period and not during a Covered Period, an amount equal to
200% of Base Salary, plus 100% of Target Bonus; or 
 (ii) for an Involuntary Termination occurring during a Covered Period,
an amount equal to 250% of Base Salary, plus 200% of Target Bonus. 
 6. Restrictive Covenants. Executive acknowledges that the
Company is engaged in a highly competitive business and that the preservation of its Proprietary or Confidential Information (as defined in Section 6(a) below) to which Executive has been exposed or acquired, and will continue to be
exposed to and acquire, is critical to the Company’s continued business success. Executive also acknowledges that the Company’s relationships with its business partners hereinafter “Business Partners” which means NCM LLC,
AMC, Cinemark and Regal and all their respective affiliates together with any chain, circuit or group (of any nature of description) of movie theaters or like venues which now or hereafter enter into business relations with the Company), are
extremely valuable and that, by virtue of Executive’s employment with the Company, he may have contact with such Business Partners on behalf of and for the benefit of the Company. As a result, Executive’s engaging in or working for or with
any business which is directly or indirectly competitive with the Company’s business, given Executive’s knowledge of the Company’s Proprietary or Confidential Information, would cause the Company great and irreparable harm if not done
in strict compliance with the provisions of this Section 6. Therefore, Executive acknowledges and agrees that in consideration of all of the above and in exchange for access to the Company’s Proprietary or Confidential Information
Executive will be bound by, and comply in all respects with, the provisions of this Section 6. 
 (a) Confidentiality.
Executive shall at all times hold in strict confidence any Proprietary or Confidential Information related to the Company or any of its affiliates (which shall mean any entity that, directly or indirectly, is controlled by, controls or is under
common control with the Company and/or any entity in which the Company has a significant equity interest, in either case as determined by the Board, hereinafter “Affiliates”) (including without limitation AMC, Cinemark, Regal and
NCM, LLC), except that Executive may disclose such information as required by law, court order, regulation, or similar order provided Executive shall first have notified the Company of the pendency of such proceeding and afforded the Company an
opportunity to intervene and defend against disclosure. For purposes of this Agreement, the term “Proprietary or Confidential Information” shall mean all non-public information relating to the Company or any of its Affiliates
(including but not limited to all marketing, alliance, social media, advertising, and sales plans and strategies; pricing information; financial, advertising, and product development plans and strategies; compensation and incentive programs for
employees; alliance agreements, plans, and processes; plans, strategies, and agreements related to the sale of assets; third party provider agreements, relationships, and strategies; business methods and processes used by the Company and its
employees; all personally identifiable information regarding Company employees, contractors, and applicants; lists of actual or potential Business Partners; and all other business plans, trade secrets, or financial information of strategic
importance to the Company or its Affiliates) that is not generally known in the Company’s industry, that was learned, discovered, developed, conceived, originated, or prepared during Executive’s employment with the Company, and the
competitive use or disclosure of which would be harmful to the business prospects, financial status, or reputation of the Company or its Affiliates at the time of any disclosure by Executive. 

  
 8 

 The relationship between Executive and the Company and its Affiliates is and shall continue to be
one in which the Company and its Affiliates repose special trust and confidence in Executive, and one in which Executive has and shall have a fiduciary relationship to the Company and its Affiliates. As a result, the Company and its Affiliates
shall, in the course of Executive’s duties to the Company, entrust Executive with, and disclose to Executive, Proprietary or Confidential Information. Executive recognizes that Proprietary or Confidential Information has been developed or
acquired, or will be developed or acquired, by the Company and its Affiliates at great expense, is proprietary to the Company and its Affiliates, and is and shall remain the property of the Company and its Affiliates. Executive acknowledges the
confidentiality of Proprietary or Confidential Information and further acknowledges that Executive could not competently perform Executive’s duties and responsibilities in Executive’s position with the Company and/or its Affiliates without
access to such information. Executive acknowledges that any use of Proprietary or Confidential Information by persons not in the employ of the Company and its Affiliates would provide such persons with an unfair competitive advantage which they
would not have without the knowledge and/or use of the Proprietary or Confidential Information and that this would cause the Company and its Affiliates irreparable harm. Executive further acknowledges that because of this unfair competitive
advantage, and the Company’s and its Affiliates’ legitimate business interests, which include their need to protect their goodwill and the Proprietary or Confidential Information, Executive has agreed to
the post-employment restrictions set forth in this Section 6. Nothing in this Section (a) is intended, or shall be construed, (i) to limit the protection of any applicable law or policy of the Company or its
Affiliates that relates to the protection of trade secrets or confidential or proprietary information or (ii) to limit Executive’s ability to initiate communications directly with, or to respond to any inquiry from, or provide testimony
before, the SEC, FINRA, any other self-regulatory organization or any other state or federal regulatory authority. 
 (b)
Non-Solicitation of Employees. During Executive’s employment and for the one-year period following termination of Executive’s employment for any reason (the “Coverage Period”), Executive hereby agrees not to,
directly or indirectly, solicit, hire, seek to hire, or assist any other person or entity (on his own behalf or on behalf of such other person or entity) in soliciting or hiring any person who is at that time an employee, consultant, independent
contractor, representative, or other agent of the Company or any of its Affiliates to perform services for any entity (other than the Company or its Affiliates), or attempt to induce or encourage any such employee to leave the employ of the Company
or its Affiliates. 
 (c) Notice of Intent to Resign. In the event Executive wishes to voluntarily terminate Executive’s
employment, Executive agrees to provide the Company with four (4) weeks advance written notice (the “Notice Period”) of Executive’s intent to do so, and, if Executive intends or contemplates alternative employment,
Executive also agrees to provide the Company with accurate information concerning such alternative employment in sufficient detail to allow the Company to meaningfully exercise its rights under this Section 6. After receipt of such
notice, the Company, in its sole, absolute and unreviewable discretion, may (i) require Executive to continue working during the Notice Period, (ii) relieve Executive of some or all of his work responsibilities during the Notice Period, or
(iii) shorten the Notice Period and make 

  
 9 

 
Executive’s voluntary termination of employment effective immediately. Notwithstanding the foregoing, if Executive provides notice of resignation (other than a resignation for Good Reason),
in no event shall Executive’s separation of employment be considered an involuntary termination by the Company, even if the effective date of termination is accelerated by the Company. 

(d) Non-Competition. 

(i) In return for, among other things, all of the above and the Company’s promise to provide the Proprietary or
Confidential Information described herein, Executive agrees that during Executive’s employment and the Coverage Period, Executive shall not compete with the Company by providing work, services or any other form of assistance (whether or not for
compensation) in any capacity, whether as an employee, consultant, partner, or otherwise, to any Competitor that (1) is the same or similar to the services Executive provided to the Company or (2) creates the reasonable risk that Executive
will (willfully, inadvertently or inevitably) use or disclose the Company’s Proprietary or Confidential Information. “Competitor” includes any business that operates or does business similar in nature to that of the Company
during the Employment Period in any State, territory, or protectorate of the United States in which the Company or an Affiliate does business and/or in any foreign country in which the Company or an Affiliate has or maintains any place of business,
venue, facility, or otherwise conducts business, as of the date of Executive’s termination of employment with the Company. Executive further acknowledges and agrees that the restrictions imposed in this subparagraph (i) will not prevent
Executive from earning a livelihood and that they are reasonable. 
 (ii) Notwithstanding the foregoing, should Executive
consider working for or with any actually, arguably, or potentially competing business following the termination of Executive’s employment with the Company or any of its Affiliates and during the Coverage Period, then Executive agrees to
provide the Company with two (2) weeks advance written notice of Executive’s intent to do so, and also to provide the Company with accurate information concerning the nature of Executive’s anticipated job responsibilities in
sufficient detail to allow the Company to meaningfully exercise its rights under this Section 6. After receipt of such notice, the Company may then agree, in its sole, absolute, and unreviewable discretion, to waive, modify, or condition
its rights under this Section 6. In particular, the Company may agree to modify Section (d)(i) if the Company concludes that the work Executive will be performing for a Competitor is different from the work Executive was
performing during Executive’s employment with the Company or any of its Affiliates and/or (2) there is no reasonable risk that Executive will (willfully, inadvertently or inevitably) use or disclose the Company’s Proprietary or
Confidential Information. 
 (e) Non-Solicitation of Business Partners. Executive acknowledges that, by virtue of his employment by
the Company or its Affiliates, Executive has gained or will gain knowledge of the identity, characteristics, and preferences of the Company’s Business Partners, among other Proprietary or Confidential Information, and that Executive would
inevitably have to draw on such information if he were to solicit or service the Company’s Business Partners on 

  
 10 

 
behalf of a Competitor. Accordingly, during the Employment Period and the Coverage Period, Executive agrees not to, directly or indirectly, solicit the business of or perform any services of the
type he performed or sell any products of the type he sold during his employment with the Company for or to actual or prospective Business Partners of the Company (i) as to which Executive performed services, sold products or as to which
employees or persons under Executive’s supervision or authority performed such services, or had direct contact, or (ii) as to which Executive had accessed Proprietary or Confidential Information during the course of Executive’s
employment by the Company, or in any manner encourage or induce any such actual or prospective Business Partner to cease doing business with or in any way interfere with the relationship between the Company and its Affiliates and such actual or
prospective Business Partner. Executive further agrees that during the Employment Period and the Coverage Period, Executive will not encourage or assist any Competitor to solicit or service any actual or prospective Business Partners or otherwise
seek to encourage or induce any Business Partners to cease doing business with, or reduce the extent of its business dealings with the Company. 

(f) Non-Interference. During Executive’s Employment Period and the Coverage Period, Executive agrees that Executive shall not,
directly or indirectly, induce or encourage any Business Partner or other third party, including any provider of goods or services to the Company, to terminate or diminish its business relationship with the Company; nor will Executive take any other
action that could, directly or indirectly, be detrimental to the Company’s relationships with its Business Partners and providers of goods or services or other business affiliates or that could otherwise interfere with the Company’s
business. 
 (g) Non-Disparagement. The Parties agree during and following the Employment Period not to make, or cause to be made,
any statement, observation, or opinion, or communicate any information (whether oral or written, directly or indirectly) that (i) accuses or implies that the other Party or its Affiliates, as may be applicable, engaged in any wrongful, unlawful
or improper conduct, whether relating to Executive’s employment (or the termination thereof), the business, management, or operations of the Company or its Affiliates, as may be applicable, or otherwise of either Party, or (ii) disparages,
impugns, or in any way reflects adversely upon the business or reputation of the other Party or their subsidiaries or affiliates, as may be applicable. Nothing herein will be deemed to preclude either Party from providing truthful testimony or
information pursuant to subpoena, court order, or similar legal process, instituting and pursuing legal action, or engaging in other legally protected speech or activities. 

(h) Breach. Executive acknowledges that the restrictions contained in this Agreement are fair, reasonable, and necessary for the
protection of the legitimate business interests of the Company, that the Company will suffer irreparable harm in the event of any actual or threatened breach by Executive, and that it is difficult to measure in money the damages which will accrue to
the Company by reason of a failure by Executive to perform any of Executive’s obligations under this Section 6. Accordingly, if the Company or any of its subsidiaries or Affiliates institutes any action or proceeding to enforce
their rights under this Section 6, to the extent permitted by applicable law, Executive hereby waives the claim or defense that the Company or its Affiliates has an adequate remedy at law, Executive shall not claim that any such remedy
at law exists, and Executive consents to the entry of a restraining order, preliminary injunction, or other preliminary, provisional, or permanent court order to enforce this Agreement, and expressly waives any security that might otherwise be
required in 

  
 11 

 
connection with such relief. Executive also agrees that any request for such relief by the Company shall be in addition and without prejudice to any claim for monetary damages and/or other relief
which the Company might elect to assert. In the event Executive violates any provision of this Section 6, and the Company is the completely prevailing party in such action, the Company shall be entitled to recover all costs and expenses
of enforcement, including reasonable attorneys’ fees, and the time periods set forth above shall be extended for the period of time Executive remains in violation of the provisions. Conversely, in the event that Executive is the completely
prevailing party in any action brought by the Company with respect to this Section 6, then Executive shall be entitled to recover all costs and expenses of defense, including reasonable attorneys’ fees and shall thereafter be
relieved of all restrictions contained in this Section 6. In the event any provision of this Section is found to be unenforceable by a court of competent jurisdiction it is agreed the remaining and other provisions shall be enforced and
the provision so found unenforceable shall be reformed so as to be enforceable to the maximum extent allowed by law. 
 (i) Release.
Executive’s execution of a complete and general release of any and all of his potential claims (other than for benefits and payments described in this Agreement or any other vested benefits with the Employees and/or their affiliates) against
the Employer, any of its affiliated companies, and their respective successors and any officers, employees, agents, directors, attorneys, insurers, underwriters, and assigns of the Employer or its affiliates and/or successors, is an express
condition of Executive’s right to receive termination payments, vesting, and benefits under this Agreement. Executive shall be required to execute within 45 days after Executive’s termination of employment a general waiver and release
agreement which documents the release required under this Section 6(i), the form of which is attached hereto as Exhibit A. 

7. Survival. Sections 6, 7, 9, 10 and 18, and such other provisions hereof as may so indicate
shall survive and continue in full force and effect in accordance with their respective terms, notwithstanding any termination of the Employment Period. 

8. Notices. Any notice provided for in this Agreement shall be in writing and shall be delivered (i) personally, (ii) by
certified mail, postage prepaid, (iii) by UPS, Federal Express or other reputable courier service regularly providing evidence of delivery (with charges paid by the party sending the notice), or (iv) by facsimile or a PDF or similar
attachment to an email, provided that such telecopy or email attachment shall be followed within one (1) business day by delivery of such notice pursuant to clause (i), (ii) or (iii) above. Any such notice to a party shall be
addressed at the address set forth below (subject to the right of a party to designate a different address for itself by notice similarly given): 

If to the Company: 
 Gene
Hardy 
 Executive Vice President, General Counsel and Secretary 

National CineMedia, Inc. 
 9110
E. Nichols Avenue 
 Suite 200, 

Centennial, Colorado 80112 

  
 12 

 With a copy to: 

Scott Schneider @ SSCHN75@me.com 

If to Executive: 
 To the
most recent address on file with the Company 
 With a copy to: 

Donald L. Norman, Jr., Esq. 

c/o Barack Ferrazzano Kirschbaum & Nagelberg LLC 

200 W. Madison Street, Suite 3900 

Chicago, IL 60606 
 9. Entire
Agreement. This Agreement constitutes the entire agreement and understanding between the Parties with respect to the subject matter hereof and supersedes and preempts any prior understandings, agreements or representations by or between the
Parties, written or oral, which may have related in any manner to the subject matter hereof. 
 10. No Conflict. Executive represents
and warrants that Executive is not bound by any employment contract, restrictive covenant, or other restriction preventing Executive from carrying out Executive’s responsibilities for the Employers, or which is in any way inconsistent with the
terms of this Agreement. Executive further represents and warrants that Executive shall not disclose to the Employers or induce the Employers to use any confidential or proprietary information or material belonging to any previous employer or
others. 
 11. Successors and Assigns. This Agreement shall inure to the benefit of and be enforceable by Executive and his heirs,
executors and personal representatives, and the Company and its successors and assigns. Any successor or assignee of the Company shall assume the liabilities of the Company hereunder. 

12. Governing Law; Alternative Dispute Resolution. This Agreement shall be governed by the internal laws (as opposed to the conflicts
of law provisions) of the State of Colorado. The Parties agree that any and all disputes, claims or controversies arising out of or relating to this Agreement other than with respect to Section 6 shall be submitted to JAMS, (Denver
Colorado office) or its successor, for mediation. Either party may commence mediation by providing to JAMS and the other party a written request for mediation, setting forth the subject of the dispute and the relief requested. The Parties will
cooperate with JAMS and with one another in selecting a mediator from the JAMS panel of neutrals and in scheduling the mediation proceedings. The Parties agree that they will participate in the mediation in good faith and that all mediation costs
will be borne by the Company. All offers, promises, conduct and statements, whether oral or written, made in the course of the mediation by any of the Parties, their agents, employees, experts and attorneys, and by the mediator or any JAMS
employees, are confidential, privileged and inadmissible for any purpose, including impeachment, in any proceeding involving the Parties, provided that evidence that is otherwise admissible or discoverable shall not be rendered inadmissible or
non-discoverable as a result of its use in the mediation. 

  
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 13. Amendment and Waiver. The provisions of this Agreement may be amended or waived only
with the prior written consent of the Company and Executive, and no course of conduct or failure or delay in enforcing the provisions of this Agreement shall affect the validity, binding effect or enforceability of this Agreement. 

14. Withholding. All payments and benefits under this Agreement are subject to withholding of all applicable taxes. 

15. Code Section 409A. This Agreement is intended to be exempt from, or comply with, the requirements of Section 409A of the
Code, and shall be interpreted and construed consistently with such intent. The payments to Executive pursuant to this Agreement are also intended to be exempt from Section 409A of the Code to the maximum extent possible, under either the
separation pay exemption pursuant to Treasury regulation §1.409A-1(b)(9)(iii) or as short-term deferrals pursuant to Treasury regulation §1.409A-1(b)(4), and for such purposes, each payment to Executive under this Agreement shall be
considered a separate payment. In the event the terms of this Agreement would subject Executive to taxes or penalties under Section 409A of the Code (“409A Penalties”), the Company and Executive shall cooperate diligently to
amend the terms of the Agreement to avoid such 409A Penalties, to the extent possible. To the extent any amounts under this Agreement are payable by reference to Executive’s “termination of employment” such term and similar terms
shall be deemed to refer to Executive’s “separation from service,” within the meaning of Section 409A of the Code; provided, however, that whether such a separation from service has occurred shall be determined
based upon a reasonably anticipated permanent reduction in the level of bona fide services to be performed to no more than 20% (or 49% if Executive shall no longer serve as an officer of the Employers) of the average level of bona fide services
provided to the Employers in the immediately preceding 36 months. Executive hereby agrees to be bound by the Company’s determination of its “specified employees” (as such term is defined in Section 409A of the Code) provided such
determination is in accordance with any of the methods permitted under the regulations issued under Section 409A of the Code. Notwithstanding any other provision in this Agreement, to the extent any payments made or contemplated hereunder
constitute nonqualified deferred compensation, within the meaning of Section 409A, then (i) each such payment which is conditioned upon Executive’s execution of a release and which is to be paid or provided during a designated period
that begins in one taxable year and ends in a second taxable year, shall be paid or provided in the later of the two taxable years and (ii) if Executive is a specified employee (within the meaning of Section 409A of the Code) as of the
date of Executive’s separation from service, each such payment that constitutes deferred compensation under Section 409A of the Code and is payable upon Executive’s separation from service and would have been paid prior to the
six-month anniversary of Executive’s separation from service, shall be delayed until the earlier to occur of (A) the first day of the seventh month following Executive’s separation from service or (B) the date of Executive’s
death. Any reimbursement payable to Executive pursuant to this Agreement shall be conditioned on the submission by Executive of all expense reports reasonably required by Employer under any applicable expense reimbursement policy, and shall be paid
to Executive within 30 days following receipt of such expense reports, but in no event later than the last day of the calendar year following the calendar year in which Executive incurred the reimbursable expense. Any amount of expenses eligible for
reimbursement, or in-kind benefit provided, during a calendar year shall not affect the amount of expenses eligible for reimbursement, or in-kind benefit to be provided, during any other calendar year. The right to any reimbursement or in-kind
benefit pursuant to this Agreement shall not be subject to liquidation or exchange for any other benefit. 

  
 14 

 16. Clawbacks. The payments to Executive pursuant to this Agreement are subject to
forfeiture or recovery by the Company or other action pursuant to any clawback or recoupment policy which the Company may adopt from time to time, including without limitation any such policy or provision that the Company has included in any of its
existing compensation programs or plans or that it may be required to adopt under the Dodd-Frank Wall Street Reform and Consumer Protection Act and implementing rules and regulations thereunder, or as otherwise required by law. 

17. Company Policies. Executive shall be subject to additional Company policies as they may exist from time-to-time, including policies
with regard to stock ownership by senior executives and policies regarding trading of securities. 
 18. Indemnification. The Company
and/or any Affiliates, or their successors shall indemnify and hold Executive harmless to the maximum extent now or hereafter permitted under the Articles of Incorporation and By-Laws of the Company or such Affiliate, as applicable. In the event
that legal action is instituted or threatened against the Executive during or after the term of his employment with, or membership on the Board or board of directors of any Affiliate, in connection with such employment or membership, the Company
will advance to the Executive the costs and expenses incurred by Executive in the defense of such action (including reasonable attorneys, expert and other professional fees) to the maximum extent permitted by law without prejudice to or waiver by
the Company of its rights and remedies against the Executive. In the event that there is a final judgment entered against the Executive in any such litigation which, in accordance with its Articles of Incorporation and By-Laws, is not subject to
indemnification, then the Executive shall reimburse the Company for all such costs and expenses paid or incurred by it in the Executive’s defense of such litigation (the “Reimbursement Amount”). The Reimbursement Amount shall be paid
by the Executive within 30 days after rendition of the final judgment and a determination by the Board that such costs and expenses are not subject to indemnification. The Parties shall cooperate in the defense of any asserted claim, demand or
liability against the Executive or the Company or any Affiliates. The term “final judgment” as used herein shall be defined to mean the decision of a court of competent jurisdiction, and in the event of an appeal, then the decision of the
appellate court, after petition for rehearing has been denied, or the time for filing the same (or the filing of further appeal) has expired. The rights to indemnification under this Section 18 shall be in addition to any rights which Executive
may now or hereafter have under any insurance contract maintained by the Company or any Affiliate or any other agreement between Executive, the Company or any Affiliate. Anything in this Agreement to the contrary notwithstanding, Executive’s
indemnification rights under this Section 18, the Articles of Incorporation and By-Laws of the Company and applicable law, shall survive the termination of Executive’s employment with the Company and his membership on the Board or the
board of any Affiliate. 
 IN WITNESS WHEREOF, the Parties hereto have executed this Agreement on the Execution Date. 

  
 15 

 
			
	NATIONAL CINEMEDIA, INC.
		
	By:	 	 /s/ Scott N Schneider

	Name:	 	Scott N Schneider
	Title:	 	Lead Director and Chairman of Succession Planning Committee
	
	ANDREW J. ENGLAND
		
	By:	 	 /s/ Andrew J. England

	Name:	 	Andrew J. England
	Title:	 	Chief Executive Officer

  
 16

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