Document:

Exhibit

Exhibit 10.6
THIRD AMENDMENT TO AMENDED & RESTATED CREDIT AGREEMENT
This THIRD AMENDMENT TO AMENDED & RESTATED CREDIT AGREEMENT (this “Third Amendment”) dated as of March 19, 2019, by and among Playa Resorts Holding B.V., a  Dutch besloten vennootschap met beperkte aansprakelijkheid with its corporate seat in Amsterdam, the Netherlands (the “Borrower”), Playa Hotels & Resorts N.V., a Dutch naamloze vennootschap with its corporate seat in Amsterdam, the Netherlands (“Holdings”), each other Guarantor party hereto, Deutsche Bank AG New York Branch as administrative agent (in such capacity, including any successor thereto, the “Administrative Agent”) under the Loan Documents and each Revolving Credit Lender party hereto collectively constituting the Required Revolving Credit Lenders.  Unless otherwise indicated, all capitalized terms used herein and not otherwise defined herein shall have the respective meanings provided to such terms in the Credit Agreement referred to below.

W I T N E S S E T H:
WHEREAS, the Borrower, Holdings, the Lenders from time to time party thereto and the Administrative Agent, among others, are parties to that certain Amended & Restated Credit Agreement, dated as of April 27, 2017 (as amended, restated, supplemented or otherwise modified to, but not including, the date hereof, the “Credit Agreement”);
WHEREAS, the Borrower has notified the Revolving Credit Lenders party hereto that it is requesting certain amendments to the Credit Agreement with respect to Section 7.11, as more fully provided herein (the “Amendment Request”);
WHEREAS, each Revolving Credit Lender party hereto by execution and delivery of this Third Amendment hereby agrees to the terms and conditions of the Amendment Request;  
WHEREAS, in accordance with the provisions of Section 10.01 of the Credit Agreement and the terms and conditions set forth herein, the parties hereto wish to effect this Third Amendment with respect to the Amendment Request;
NOW, THEREFORE, in consideration of the premises and the agreements contained herein, the parties hereto agree as follows:
SECTION 1.  Amendments to Credit Agreement.  
(a)Section 1.01 of the Credit Agreement is hereby amended by adding in the appropriate alphabetical order the following new definitions:
“Cap Cana Construction Period” means the period from and including July 1, 2019 through and including June 30, 2020. 
“Cap Cana Project” means [the construction and development of the Hyatt Zilara Cap Cana and Hyatt Ziva Cap Cana in Punta Cana, Dominican Republic.]
“Third Amendment” means the Third Amendment to Amended & Restated Credit Agreement, dated as of March 19, 2019, among the Borrower, Holdings, the other Guarantors party thereto, the Administrative Agent and each Revolving Credit Lender party thereto collectively constituting the Required Revolving Credit Lenders.
“Third Amendment Effective Date” shall have the meaning provided in the Third Amendment.
(b) Section 1.01 of the Credit Agreement is hereby amended by deleting the definition of “Consolidated Secured Net Leverage Ratio Level”.
(c)Section 2.02(a) of the Credit Agreement is hereby amended by deleting clauses (v) and (vi) thereof and inserting the following in lieu thereof:
“(v) if applicable, the duration of the Interest Period with respect thereto, (vi) wire instructions of the account(s) to which funds are to be disbursed (it being understood, for the avoidance of doubt, that the amount to be disbursed to any particular account may be less than the minimum or multiple limitations set forth above so 

long as the aggregate amount to be disbursed to all such accounts pursuant to such Borrowing meets such minimums and multiples) and (vii) with respect to any Revolving Credit Borrowing during the Cap Cana Construction Period, the principal amount of proceeds of such Revolving Credit Borrowing to be used in connection with the Cap Cana Project.”
(d)Section 7.11 of the Credit Agreement is hereby amended by amending and restating it in its entirety as follows:
“In respect of the Revolving Credit Facility and commencing with the first full fiscal quarter after the Closing Date and for each fiscal quarter thereafter, if the aggregate amount of outstanding Revolving Credit Loans (including Swingline Loans) and Letters of Credit (to the extent not Cash Collateralized or backstopped) in excess of $10,000,000 exceeds 35.0% of the aggregate Revolving Credit Commitments under the Revolving Credit Facility, permit the Consolidated Secured Net Leverage Ratio as of the last day of such Test Period to exceed 4.75:1.00; provided, that, solely for purposes of this Section 7.11, during the Cap Cana Construction Period (i) the aggregate amount of outstanding Revolving Credit Loans shall exclude the lesser of (x) $50,000,000 and (y) the aggregate amount of Revolving Credit Loans borrowed in connection with the development of the Cap Cana Project after the Third Amendment Effective Date and (ii) the definition of Consolidated Secured Net Debt shall exclude the lesser of (x) $50,000,000 and (y) the aggregate amount of Revolving Credit Loans borrowed in connection with the development of the Cap Cana Project after the Third Amendment Effective Date; provided further, that, at any time after the Cap Cana Construction Period, any amounts excluded from the aggregate amount of Revolving Credit Loans or the definition of Consolidated Secured Net Debt, in each case, pursuant to the preceding proviso will no longer be excluded for purposes of this Section 7.11.”
(e)Section 8.01(b) of the Credit Agreement is hereby amended by deleting the reference to “Revolving Loans” appearing therein and inserting “Revolving Credit Loans” in lieu thereof.
(f)Section 10.01(b) of the Credit Agreement is hereby amended by deleting the references to “Revolving Loans” appearing therein and inserting “Revolving Credit Loans” in lieu thereof.
SECTION 2.    Representations and Warranties.  
(a)In order to induce the Administrative Agent and the Revolving Credit Lenders to enter into this Third Amendment, the Borrower and each other Loan Party hereby represents and warrants that:
(i)    no Event of Default shall exist as of the Third Amendment Effective Date or would result immediately after giving effect to this Third Amendment;
(ii)    the representations and warranties of each Loan Party set forth in Article V of the Credit Agreement and in each other Loan Document are true and correct in all material respects (or, to the extent qualified by materiality, in all respects) on the Third Amendment Effective Date with the same effect as though made on and as of the such date, except to the extent such representations and warranties expressly relate to an earlier date, in which case they shall be true in all material respects as of such earlier date;;
(iii)    it and each other Loan Party has all corporate or other organizational power and authority to execute and deliver this Third Amendment and to carry out the transactions contemplated by, and perform its obligations under the Credit Agreement, as amended by this Third Amendment (the “Amended Agreement”);
(iv)    it and each other Loan Party has taken all necessary corporate or other organizational action to authorize the execution and delivery of this Third Amendment and the performance of the Amended Agreement;
(v)    neither the execution or delivery of this Third Amendment nor the performance by any Loan Party of the Amended Agreement will (i) contravene the terms of any of the Organization Documents of such Loan Party; (ii) conflict with or result in any breach or contravention of, or the creation of any Lien (other than as permitted by Section 7.01 of the Credit Agreement) under, or require any payment to be made under  (A) any Contractual Obligation to which such Loan Party is a party or by which it or any of its property or assets is bound or (B) any material order, injunction, writ or decree of any Governmental Authority or any arbitral award to which such Loan Party or its property is subject; or (iii) violate any Law; except with respect to any conflict, breach or contravention or payment (but not creation of Lien) referred to in clauses (ii) and (iii), to the extent that such violation, conflict, breach, contravention or payment could not reasonably be expected to have a Material Adverse Effect; and

(vi)    no material approval, consent, exemption, authorization, or other action by, or notice to, or filing with, any Governmental Authority is necessary or required in connection with the execution or delivery of this Third Amendment or performance by, or enforcement against, any Loan Party of the Amended Agreement, except for (i) filings necessary to perfect the Liens on the Collateral granted by the Loan Parties in favor of the Secured Parties, (ii) the approvals, consents, exemptions, authorizations, actions, notices and filings that have been duly obtained, taken, given or made and are in full force and effect, (iii) those approvals, consents, exemptions, authorizations or other actions, notices or filings, the failure of which to obtain or make could not reasonably be expected to have a Material Adverse Effect and (iv) any public filing with the SEC in compliance with applicable Law, including United States Federal and state securities Laws.
(a)Holdings and each other Guarantor:
(i)    has read this Third Amendment and consents to the terms hereof and hereby acknowledges and agrees that each of the Guaranty and the Collateral Documents to which it is a party or otherwise is bound shall continue in full force and effect and that all of its obligations thereunder shall be valid and enforceable and shall not be impaired or limited by the execution or effectiveness of this Third Amendment; and
(ii)    acknowledges and agrees that (i) notwithstanding the conditions to effectiveness set forth in this Third Amendment, such Guarantor is not required by the terms of the Credit Agreement or any other Loan Document to consent to the amendments to the Credit Agreement effected pursuant to this Third Amendment and (ii) nothing in this Third Amendment shall be deemed to require the consent of such Guarantor to any future amendments to the Credit Agreement. 
SECTION 3.    Conditions to Effectiveness of this Third Amendment. This Third Amendment shall become effective on the date (the “Third Amendment Effective Date”) when each of the following conditions shall have been satisfied:
(a)no Event of Default exists as of the Third Amendment Effective Date, both before and immediately after giving effect to the Third Amendment;
(b)all of the representations and warranties of the Borrower and each other Loan Party contained in the Credit Agreement and the other Loan Documents (including this Third Amendment) are true and correct in all material respects on the Third Amendment Effective Date, both before and after giving effect to this Third Amendment, with the same effect as though such representations and warranties had been made on and as of the Third Amendment Effective Date (it being understood and agreed that (x) any representation or warranty which by its terms is made as of a specified date shall be required to be true and correct in all material respects only as of such specified date and (y) any representation or warranty that is qualified as to “materiality,” “Material Adverse Effect” or similar language shall be true and correct in all respects on such date); and
(c)the Borrower, Holdings, the other Guarantors, the Administrative Agent and the Revolving Credit Lenders constituting the Required Revolving Credit Lenders shall have signed a counterpart hereof (whether the same or different counterparts) and shall have delivered (including by way of facsimile or other electronic transmission) the same to the Administrative Agent.
SECTION 4.    Miscellaneous Provisions. 
(a)This Third Amendment is limited precisely as written and shall not be deemed to (i) be a waiver of or a consent to the modification of or deviation from any other term or condition of the Credit Agreement or the other Loan Documents or any of the other instruments or agreements referred to therein, or (ii) prejudice any right or rights which any of the Lenders, the Administrative Agent or the Mexican Collateral Agent now have or may have in the future under or in connection with the Credit Agreement, the Loan Documents or any of the other instruments or agreements referred to therein.
(b)This Third Amendment may be executed in any number of counterparts (including by way of facsimile or other electronic transmission) and by the different parties hereto on separate counterparts, each of which counterparts when executed and delivered shall be an original, but all of which shall together constitute one and the same instrument.  A complete set of counterparts shall be lodged with the Borrower and the Administrative Agent.
(c)THIS THIRD AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

(d)By executing and delivering a copy hereof, the Borrower and each other Loan Party hereby  (A) agrees that all Loans shall be guaranteed pursuant to the Guaranty in accordance with the terms and provisions thereof and shall be secured pursuant to the Collateral Documents in accordance with the terms and provisions thereof, and that, notwithstanding the effectiveness of this Third Amendment, after giving effect to this Third Amendment, the Guaranty and the Liens created pursuant to the Collateral Documents for the benefit of the Secured Parties continue to be in full force and effect on a continuous basis, (B) affirms, acknowledges and confirms all of its obligations and liabilities under the Credit Agreement and each other Loan Document to which it is a party, in each case after giving effect to this Third Amendment, all as provided in such Loan Documents, and acknowledges and agrees that such obligations and liabilities continue in full force and effect on a continuous basis in respect of, and to secure, the Obligations under the Credit Agreement and the other Loan Documents, in each case after giving effect to this Third Amendment and (C) confirms and agrees that at the time of entering into of any pledge governed by Netherlands or Curaçao law created pursuant to or in connection with any Loan Document, it was its intention (and it is still its intention and agreement with the Pledgee) that the pledges secure the obligations as amended, supplemented, extended or restated from time to time (including by way of an increase of the credit made available under the relevant Loan Document, such as under the Amendment).
(e)This Third Amendment shall constitute a “Loan Document” for purposes of the Credit Agreement and the other Loan Documents.
(f)From and after the Third Amendment Effective Date, all references in the Credit Agreement and each of the other Loan Documents to the Credit Agreement shall be deemed to be references to the Credit Agreement as modified hereby or in accordance with the terms hereof. 
[Signature Pages follow]

IN WITNESS WHEREOF, each of the parties hereto has caused a counterpart of this Third Amendment to be duly executed and delivered by the parties hereto as of the date first above written. 

	
				
	 
	PLAYA RESORTS HOLDING B.V., as Borrower
	 

	 
	By:
	/s/ Bruce D. Wardinski
	 

	 
	 
	Name: Bruce D. Wardinski
	 

	 
	 
	Title: Authorized Person
	 

	 
	 
	 
	 

	 
	PLAYA HOTELS & RESORTS N.V., as Holdings
	 

	 
	By:
	/s/ Bruce D. Wardinski
	 

	 
	 
	Name: Bruce D. Wardinski
	 

	 
	 
	Title: Authorized Person
	 

	 
	 
	 
	 

	 
	PLAYA H&R HOLDINGS B.V., as Guarantor
	 

	 
	By:
	/s/ Bruce D. Wardinski
	 

	 
	 
	Name: Bruce D. Wardinski
	 

	 
	 
	Title: Authorized Person
	 

	 
	 
	 
	 

	 
	HOTEL GRAN PORTO REAL B.V., as Guarantor
	 

	 
	By:
	/s/ Bruce D. Wardinski
	 

	 
	 
	Name: Bruce D. Wardinski
	 

	 
	 
	Title: Authorized Person
	 

	 
	 
	 
	 

	 
	HOTEL ROYAL CANCUN B.V., as Guarantor
	 

	 
	By:
	/s/ Bruce D. Wardinski
	 

	 
	 
	Name: Bruce D. Wardinski
	 

	 
	 
	Title: Authorized Person
	 

	 
	 
	 
	 

	 
	HOTEL GRAN CARIBE REAL B.V., as Guarantor
	 

	 
	By:
	/s/ Bruce D. Wardinski
	 

	 
	 
	Name: Bruce D. Wardinski
	 

	 
	 
	Title: Authorized Person
	 

	 
	 
	 
	 

	 
	HOTEL ROYAL PLAYA DEL CARMEN B.V., as Guarantor
	 

	 
	By:
	/s/ Bruce D. Wardinski
	 

	 
	 
	Name: Bruce D. Wardinski
	 

	 
	 
	Title: Authorized Person
	 

	 
	 
	 
	 

	 
	PLAYA RIVIERA MAYA B.V., as Guarantor
	 

	 
	By:
	/s/ Bruce D. Wardinski
	 

	 
	 
	Name: Bruce D. Wardinski
	 

	 
	 
	Title: Authorized Person
	 

	 
	 
	 
	 

	
				
	 
	 
	 
	 

	 
	PLAYA CABOS B.V., as Guarantor
	 

	 
	By:
	/s/ Bruce D. Wardinski
	 

	 
	 
	Name: Bruce D. Wardinski
	 

	 
	 
	Title: Authorized Person
	 

	 
	 
	 
	 

	 
	PLAYA ROMANA B.V., as Guarantor
	 

	 
	By:
	/s/ Bruce D. Wardinski
	 

	 
	 
	Name: Bruce D. Wardinski
	 

	 
	 
	Title: Authorized Person
	 

	 
	 
	 
	 

	 
	PLAYA PUNTA CANA HOLDING B.V., as Guarantor
	 

	 
	By:
	/s/ Bruce D. Wardinski
	 

	 
	 
	Name: Bruce D. Wardinski
	 

	 
	 
	Title: Authorized Person
	 

	 
	 
	 
	 

	 
	PLAYA ROMANA MAR B.V., as Guarantor
	 

	 
	By:
	/s/ Bruce D. Wardinski
	 

	 
	 
	Name: Bruce D. Wardinski
	 

	 
	 
	Title: Authorized Person
	 

	 
	 
	 
	 

	 
	PLAYA CANA B.V., as Guarantor
	 

	 
	By:
	/s/ Bruce D. Wardinski
	 

	 
	 
	Name: Bruce D. Wardinski
	 

	 
	 
	Title: Authorized Person
	 

	 
	 
	 
	 

	 
	PLAYA GRAN, S. DE R.L. DE C.V., as Guarantor
	 

	 
	By:
	/s/ Bruce D. Wardinski
	 

	 
	 
	Name: Bruce D. Wardinski
	 

	 
	 
	Title: Authorized Person
	 

	 
	 
	 
	 

	 
	GRAN DESING & FACTORY, S. DE R.L. DE C.V., as Guarantor
	 

	 
	By:
	/s/ Bruce D. Wardinski
	 

	 
	 
	Name: Bruce D. Wardinski
	 

	 
	 
	Title: Authorized Person
	 

	 
	 
	 
	 

	 
	DESAROLLOS GCR, S. DE R.L. DE C.V., as Guarantor
	 

	 
	By:
	/s/ Bruce D. Wardinski
	 

	 
	 
	Name: Bruce D. Wardinski
	 

	 
	 
	Title: Authorized Person
	 

	 
	 
	 
	 

	
				
	 
	 
	 
	 

	 
	INMOBILIARIA Y PROYECTOS TRPLAYA, S. DE R.L. DE C.V., as Guarantor
	 

	 
	By:
	/s/ Bruce D. Wardinski
	 

	 
	 
	Name: Bruce D. Wardinski
	 

	 
	 
	Title: Authorized Person
	 

	 
	 
	 
	 

	 
	PLAYA RMAYA ONE, S. DE R.L. DE C.V., as Guarantor
	 

	 
	By:
	/s/ Bruce D. Wardinski
	 

	 
	 
	Name: Bruce D. Wardinski
	 

	 
	 
	Title: Authorized Person
	 

	 
	 
	 
	 

	 
	PLAYA CABOS BAJA, S. DE R.L. DE C.V., as Guarantor
	 

	 
	By:
	/s/ Bruce D. Wardinski
	 

	 
	 
	Name: Bruce D. Wardinski
	 

	 
	 
	Title: Authorized Person
	 

	 
	 
	 
	 

	 
	HOTEL CAPRI CARIBE, S. DE R.L. DE C.V., as Guarantor
	 

	 
	By:
	/s/ Bruce D. Wardinski
	 

	 
	 
	Name: Bruce D. Wardinski
	 

	 
	 
	Title: Authorized Person
	 

	 
	 
	 
	 

	 
	CAMERON DEL CARIBE, S. DE R.L. DE C.V., as Guarantor
	 

	 
	By:
	/s/ Bruce D. Wardinski
	 

	 
	 
	Name: Bruce D. Wardinski
	 

	 
	 
	Title: Authorized Person
	 

	 
	 
	 
	 

	 
	CAMERON DEL PACIFICO, S. DE R.L. DE C.V., as Guarantor
	 

	 
	By:
	/s/ Bruce D. Wardinski
	 

	 
	 
	Name: Bruce D. Wardinski
	 

	 
	 
	Title: Authorized Person
	 

	 
	 
	 
	 

	 
	BD REAL RESORTS, S. DE R.L. DE C.V., as Guarantor
	 

	 
	By:
	/s/ Bruce D. Wardinski
	 

	 
	 
	Name: Bruce D. Wardinski
	 

	 
	 
	Title: Authorized Person
	 

	 
	 
	 
	 

	 
	PLAYA HALL JAMAICAN RESORT LIMITED, as Guarantor
	 

	 
	By:
	/s/ Bruce D. Wardinski
	 

	 
	 
	Name: Bruce D. Wardinski
	 

	 
	 
	Title: Authorized Person
	 

	 
	 
	 
	 

	
				
	 
	 
	 
	 

	 
	INVERSIONES VILAZUL S.A.S., as Guarantor
	 

	 
	By:
	/s/ Bruce D. Wardinski
	 

	 
	 
	Name: Bruce D. Wardinski
	 

	 
	 
	Title: Authorized Person
	 

	 
	 
	 
	 

	 
	PLAYA CAPRI RESORT B.V., as Guarantor
	 

	 
	By:
	/s/ Bruce D. Wardinski
	 

	 
	 
	Name: Bruce D. Wardinski
	 

	 
	 
	Title: Authorized Person
	 

	 
	 
	 
	 

	 
	PLAYA PUERTO VALLARTA RESORT B.V., as Guarantor
	 

	 
	By:
	/s/ Bruce D. Wardinski
	 

	 
	 
	Name: Bruce D. Wardinski
	 

	 
	 
	Title: Authorized Person
	 

	 
	 
	 
	 

	 
	PLAYA PUNTA CANCUN RESORT B.V., as Guarantor
	 

	 
	By:
	/s/ Bruce D. Wardinski
	 

	 
	 
	Name: Bruce D. Wardinski
	 

	 
	 
	Title: Authorized Person
	 

	
				
	 
	DEUTSCHE BANK AG NEW YORK BRANCH, 
as Administrative Agent and a Revolving Credit Lender

	 

	 
	By:
	/s/ Michael Strobel
	 

	 
	 
	Name: Michael Strobel
	 

	 
	 
	Title: Vice President
	 

	 
	 
	 
	 

	 
	By:
	/s/ Yumi Okabe
	 

	 
	 
	Name: Yumi Okabe
	 

	 
	 
	Title: Vice President
	 

	
				
	 
	Bank of America N.A., as a Revolving Credit Lender
	 

	 
	By:
	/s/ Roger C. Davis
	 

	 
	 
	Name: Roger C. Davis
	 

	 
	 
	Title: Senior Vice President
	 

	
				
	 
	CITIBANK N.A., as a Revolving Credit Lender
	 

	 
	By:
	/s/ John Rowland
	 

	 
	 
	Name: John Rowland
	 

	 
	 
	Title: Vice President
	 

	
				
	 
	Nomura Corporate Funding Americas, LLC, as a Revolving Credit Lender
	 

	 
	By:
	/s/ Andrew Keith
	 

	 
	 
	Name: Andrew Keith
	 

	 
	 
	Title: Executive DirectorExhibit

Exhibit 10.1

KEANE GROUP, INC.
EQUITY AND INCENTIVE AWARD PLAN
RESTRICTED STOCK UNIT PERFORMANCE AWARD AGREEMENT
This Restricted Stock Unit Performance Award Agreement (this “Agreement”) is made and entered into as of [●], 20[●] (the “Grant Date”), by and between Keane Group, Inc., a Delaware corporation (the “Company”), and [●] (the “Participant”), who is employed by the Company or one of its subsidiaries on the Grant Date. Capitalized terms not otherwise defined herein or in an Appendix shall have the meanings provided in the Keane Group, Inc. Equity and Incentive Award Plan (the “Plan”).
W I T N E S S E T H:
WHEREAS, the Company maintains the Plan; and 
WHEREAS, the Company desires to grant Restricted Stock Units to the Participant pursuant to the terms of the Plan and the terms set forth herein;
NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows:
1.Grant.  Subject to the conditions set forth in the Plan and this Agreement, Appendix A, and Appendix B, the Company grants to the Participant the Restricted Stock Units.
2.Vesting.  The Participant shall become vested in the Restricted Stock Units as described in Appendix A and Appendix B.  Except as otherwise provided in this Agreement or an Appendix, upon the Participant’s Termination for any reason, the portion of the Restricted Stock Units in which the Participant has not become vested shall be cancelled, and forfeited by the Participant, without consideration.
3.Stockholder Rights.  The Participant shall not have any voting rights, rights to dividends or other rights of a stockholder with respect to shares of Common Stock underlying a Restricted Stock Unit until the Restricted Stock Unit has vested and a share of Common Stock has been issued in settlement thereof and, if applicable, the Participant has satisfied any other conditions imposed by the Committee.
4.Transferability.  Except as permitted by the Committee, in its sole discretion, the Restricted Stock Units may not be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by the Participant other than by will or by the laws of descent and distribution or, subject to the consent of the Committee, pursuant to a domestic relations order, unless and until the Restricted Stock Units have been settled and the shares of Common Stock underlying the Restricted Stock Units have been issued, and all restrictions applicable to such shares have lapsed, and any such purported assignment, alienation, pledge, attachment, sale, transfer or encumbrance shall be void and unenforceable against the Company; provided that the designation 

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of a beneficiary shall not constitute an assignment, alienation, pledge, attachment, sale, transfer or encumbrance.
5.Taxes.  The Participant has reviewed with his or her own tax advisors the federal, state, local and foreign tax consequences of this investment and the transactions contemplated by this Agreement. The Participant is relying solely on such advisors and not on any statements or representations of the Company or any of its agents. The Participant understands that the Participant (and not the Company) shall be responsible for the Participant’s own tax liability that may arise as a result of this investment or the transactions contemplated by this Agreement. In accordance with the terms of the Plan, the Participant may elect to satisfy any applicable tax withholding obligations arising from the vesting or settlement of the Restricted Stock Units by having the Company withhold a portion of the shares of Common Stock to be delivered to the Participant upon settlement of the Restricted Stock Units or by delivering to the Company vested shares of Common Stock owned by the Participant, that in either case have a Fair Market Value equal to the sums required to be withheld; provided that, the number of shares of Common Stock which may be withheld in order to satisfy the Participant’s federal, state, local and foreign income and payroll tax liabilities hereunder shall be limited to the number of shares of Common Stock which have a Fair Market Value on the date of withholding equal to the aggregate amount of such tax liabilities based on the minimum statutory withholding rates for federal, state, local and foreign income tax and payroll tax purposes that are applicable to such supplemental taxable income.
6.Incorporation by Reference.  The terms and provisions of the Plan are incorporated herein by reference, and the Participant hereby acknowledges receiving a copy of the Plan and represents that the Participant is familiar with the terms and provisions thereof. The Participant accepts this Award subject to all of the terms and conditions of the Plan. In the event of a conflict or inconsistency between the terms of the Plan and the terms of this Agreement, the Plan shall govern and control.
7.Securities Laws and Representations.  The Participant acknowledges that the Plan is intended to conform to the extent necessary with all applicable federal, state and foreign securities laws (including the Securities Act and the Exchange Act) and any and all regulations and rules promulgated thereunder by the Securities and Exchange Commission or any other governmental regulatory body. Notwithstanding anything herein to the contrary, the Plan shall be administered, and the shares are to be issued, only in such a manner as to conform to such laws, rules and regulations. To the extent permitted by applicable law, the Plan and this Agreement shall be deemed amended to the extent necessary to conform to such laws, rules and regulations. Without limiting the foregoing, the Restricted Stock Units are being granted to the Participant, upon settlement of the Restricted Stock Units any shares of Common Stock shall be issued to the Participant, and this Agreement is being made by the Company in reliance upon the following express representations and warranties of the Participant. The Participant acknowledges, represents and warrants that:
(a)    The Participant has been advised that the Participant may be an “affiliate” within the meaning of Rule 144 under the Securities Act of 1933 (the “Securities Act”) and in this connection the Company is relying in part on the Participant’s representations set forth in herein;

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(b)    Any shares of Common Stock issued to the Participant upon settlement of the Restricted Stock Units must be held indefinitely by the Participant unless (i) an exemption from the registration requirements of the Securities Act is available for the resale of such shares of Common Stock or (ii) the Company files an additional registration statement (or a “re-offer prospectus”) with regard to the resale of such shares of Common Stock and the Company is under no obligation to continue in effect a Form S-8 Registration Statement or to otherwise register the resale of such shares of Common Stock (or to file a “re-offer prospectus”); and
(c)    The exemption from registration under Rule 144 shall not be available under current law unless (i) a public trading market then exists for the Common Stock, (ii) adequate information concerning the Company is then available to the public, and (iii) other terms and conditions of Rule 144 or any exemption therefrom are complied with, and that any sale of shares of Common Stock issued to the Participant upon settlement of the Restricted Stock Units may be made only in limited amounts in accordance with, such terms and conditions.
8.Captions.  The captions in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning of terms contained herein.
9.Entire Agreement.  This Agreement together with the Plan, as either of the foregoing may be amended or supplemented in accordance with their terms, constitutes the entire agreement and understanding of the parties hereto with respect to the subject matter contained herein and therein, and supersedes all prior communications, representations and negotiations in respect thereto.
10.Successors and Assigns.  The terms of this Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, successors and permitted assigns. The Participant may not assign any of the rights or obligations under this Agreement without the prior written consent of the Company. The Company may assign its rights and obligations to another entity which shall succeed to all or substantially all of the assets and business of the Company.
11.Amendments and Waivers.  Subject to the provisions of the Plan, the provisions of this Agreement may not be amended, modified, supplemented or terminated, and waivers or consents to departures from the provisions hereof may not be given, without the written consent of each of the parties hereto.
12.Severability.  In the event that any provision of this Agreement shall be held illegal or invalid for any reason, such illegality or invalidity shall not affect the remaining parts of this Agreement, and this Agreement shall be construed and enforced as if the illegal or invalid provision had not been included.
13.Signature in Counterparts.  This Agreement may be signed in counterparts, each which shall constitute an original, with the same effect as if the signatures thereto and hereto were upon the same instrument.
14.Notices.  Any notice required to be given or delivered to the Company under the terms of the Plan or this Agreement shall be in writing and addressed to the General Counsel and the Secretary of the Company at its principal corporate offices. Any notice required to be given or 

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delivered to the Participant shall be in writing and addressed to the Participant at the address listed in the Company’s personnel files or to such other address as the Participant may designate in writing from time to time to the Company. All notices shall be deemed to have been given or delivered upon: personal delivery, three days after deposit in the United States mail by certified or registered mail (return receipt requested), one business day after deposit with any return receipt express courier (prepaid), or one business day after transmission by facsimile.
15.Governing Law.  This Agreement shall be governed by and construed in accordance with the internal laws of the State of Delaware, without giving effect to any choice of law provision or rule (whether of the State of Delaware or any other jurisdiction) that would cause the laws of any jurisdiction other than the State of Delaware to be applied.
16.Consent to Jurisdiction.  Each of the parties hereto hereby irrevocably and unconditionally agrees that any action, suit or proceeding, at law or equity, arising out of or relating to the Plan, this Agreement or any agreements or transactions contemplated hereby shall only be brought in any federal court of the Southern District of Texas or any state court located in Harris County, State of Texas, and hereby irrevocably and unconditionally expressly submits to the personal jurisdiction and venue of such courts for the purposes thereof and hereby irrevocably and unconditionally waives (by way of motion, as a defense or otherwise) any and all jurisdictional, venue and convenience objections or defenses that such party may have in such action, suit or proceeding. Each party hereby irrevocably and unconditionally consents to the service of process of any of the aforementioned courts.
17.Waiver of Jury Trial.  THE PARTIES HERETO HEREBY WAIVE, TO THE EXTENT PERMITTED BY APPLICABLE LAW, TRIAL BY JURY IN ANY LITIGATION IN ANY COURT WITH RESPECT TO, IN CONNECTION WITH, OR ARISING OUT OF THIS AGREEMENT OR THE VALIDITY, INTERPRETATION OR ENFORCEMENT HEREOF. THE PARTIES HERETO AGREE THAT THIS SECTION IS A SPECIFIC AND MATERIAL ASPECT OF THIS AGREEMENT AND WOULD NOT ENTER INTO THIS AGREEMENT IF THIS SECTION WERE NOT PART OF THIS AGREEMENT.
18.No Employment Rights. The Participant understands and agrees that this Agreement does not impact in any way the right of the Company or its Subsidiaries to terminate or change the terms of the employment of the Participant at any time for any reason whatsoever, with or without cause, nor confer upon any right to continue in the employ of the Company or any of its Subsidiaries.
19.Limitations Applicable to Section 16 Persons.  Notwithstanding any other provision of the Plan or this Agreement, if the Participant is subject to Section 16 of the Exchange Act, the Plan, the Restricted Stock Units and this Agreement shall be subject to any additional limitations set forth in any applicable exemptive rule under Section 16 of the Exchange Act (including any amendment to Rule 16b-3 of the Exchange Act) that are requirements for the application of such exemptive rule. To the extent permitted by applicable law, this Agreement shall be deemed amended to the extent necessary to conform to such applicable exemptive rule.
20.Claw-Back Policy.  The Restricted Stock Units shall be subject to any claw-back policy implemented by the Company.

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[Signature page follows]

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IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the first date set forth above.
	
			
	 
	KEANE GROUP, INC.

	 
	 
	 

	 
	 
	 

	 
	By:
	 

	 
	 
	Name: 

	 
	 
	Title: 

	 
	 
	 

	 
	 
	 

	 
	PARTICIPANT

	 
	 
	 

	 
	 
	 

	 
	 
	 

	 
	Name:
	 

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