Document:

Exhibit

FIFTH AMENDMENT TO CREDIT AGREEMENT

This FIFTH AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) is entered into as of July 2, 2015, by and among Ciena Corporation, a Delaware corporation (the “Company”), Ciena Communications, Inc., a Delaware corporation (“CCI”), Ciena Government Solutions, Inc., a Delaware corporation (“CGSI” and, together with the Company and CCI, collectively, the “U.S. Borrowers”), Ciena Canada, Inc., a corporation incorporated under the laws of Canada (the “Canadian Borrower” and, together with the U.S. Borrowers, collectively, the “Borrowers”), Deutsche Bank AG New York Branch, as administrative agent and collateral agent (in such capacities, the “Administrative Agent” and the “Collateral Agent”, respectively) and the Lenders (as defined in the Credit Agreement referred to below) party hereto.  Capitalized terms used but not otherwise defined herein shall have the respective meanings ascribed to such terms in the Credit Agreement (as defined below). 

RECITALS
WHEREAS, the Borrowers, the Lenders, Deutsche Bank AG New York Branch, as Administrative Agent and as Collateral Agent, and the other agents party thereto are parties to that certain ABL Credit Agreement, dated as of August 13, 2012 (as amended by that certain First Amendment to Credit Agreement, dated as of August 24, 2012, by that certain Omnibus Second Amendment to Credit Agreement and First Amendment to U.S. Security Agreement, Canadian Security Agreement, U.S. Pledge Agreement, U.S. Guaranty and Canadian Guaranty, dated as of March 5, 2013, by that certain Third Amendment to Credit Agreement dated July 15, 2014, and by that certain Omnibus Fourth Amendment to Credit Agreement and First Amendment to U.S. Pledge Agreement and Canadian Pledge Agreement, dated as of April 15, 2015, the “Credit Agreement”), pursuant to which, among other things, the Lenders have agreed, subject to the terms and conditions set forth therein, to make certain loans and other financial accommodations to the Borrowers; 
WHEREAS, the Company has formed Neptune Acquisition Subsidiary, Inc., a Delaware corporation and a Wholly-Owned Domestic Subsidiary of the Company (“Merger Sub”), for the purpose of acquiring all of the outstanding Equity Interests of Cyan, Inc., a Delaware corporation (“Cyan”), pursuant to an Agreement and Plan of Merger, dated as of May 3, 2015, among the Company, Merger Sub and Cyan (the “Merger Agreement”);
WHEREAS, upon the consummation of the acquisition of all of the outstanding Equity Interests of Cyan as contemplated by the Merger Agreement (the “Acquisition”), Merger Sub shall merge with and into Cyan, with Cyan being the surviving entity, and immediately thereafter, Cyan shall merge with and into the Company, with the Company being the surviving entity; 
WHEREAS, the Borrowers have requested that the Lenders and the Administrative Agent make certain amendments to the Credit Agreement to permit the Acquisition; and
WHEREAS, the Administrative Agent and each Lender party hereto are willing to make such amendments to the Credit Agreement, on the terms, and subject to the conditions, set forth herein.
NOW, THEREFORE, in consideration of the foregoing, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:  
SECTION 1.  Amendments to Credit Agreement.  From and after the consummation of the Cyan Acquisition:
(a)Section 1.01 of the Credit Agreement is hereby amended as follows: 

1.inserting in the appropriate alphabetical order the following new definitions:
““Cyan” shall mean Cyan, Inc., a Delaware corporation.”
““Cyan Acquisition” shall mean (i) the acquisition by the Company of all the outstanding Equity Interests of Cyan pursuant to, and in accordance with, the terms of the Cyan Merger Agreement, 

pursuant to which Merger Sub shall merge with and into Cyan, with Cyan being the surviving entity, and (ii) the substantially simultaneous merger of Cyan with and into the Company, with the Company being the surviving entity.”
““Cyan Convertible Notes” shall mean the 8.00% senior secured convertible notes due December 15, 2019, issued by Cyan pursuant to the Cyan Indenture, and assumed by the Company upon the consummation of the Cyan Acquisition.”
““Cyan Convertible Notes Documents” shall mean the Cyan Convertible Notes, the Cyan Pledge and Escrow Agreement and the Cyan Indenture, as supplemented by one or more supplemental indentures thereto, which after giving effect to any such supplemental indentures, the terms of the Cyan Indenture shall (i) not be materially more restrictive than the terms of the Cyan Indenture as in effect on the Fifth Amendment Effective Date assuming for purposes of this clause (i) the application of Section 4.14 of the Cyan Indenture has occurred as a result of a Fundamental Change (as such term is defined in the Cyan Indenture) described in clause (a) or (b) of the definition thereof (it being agreed that the Company’s guaranty of, or assumption of the obligations under, the Cyan Convertible Notes and the substitution of reference property for determination of any conversion amount are deemed not to be materially more restrictive) or (ii) otherwise be acceptable to the Administrative Agent in its reasonable discretion, pursuant to which, among other things, upon the consummation of the Cyan Acquisition, the Company may guaranty the Cyan Convertible Notes (prior to the assumption of the obligations thereof by the Company promptly after the consummation of the Cyan Acquisition) and the Company will assume the obligations of Cyan as issuer thereunder as successor by merger (which shall occur promptly after the consummation of the Cyan Acquisition).”
““Cyan Indenture” shall mean the Indenture, dated as of December 12, 2014, between Cyan, as issuer, and U.S. Bank, National Association, as trustee, as supplemented by that certain First Supplemental Indenture, dated as of April 27, 2015, and as may be further amended, modified or supplemented from time to time in accordance with the terms hereof and thereof.”
““Cyan Merger Agreement” shall mean the Agreement and Plan of Merger dated as of May 3, 2015, among the Company, Merger Sub and Cyan, as amended, supplemented and otherwise modified from time to time.”
““Cyan Pledge and Escrow Agreement” shall mean the Pledge and Escrow Agreement, dated as of December 12, 2014, between Cyan and U.S. Bank, National Association, as collateral agent, as amended, modified or supplemented from time to time in accordance with the terms hereof and thereof.”
““Fifth Amendment Effective Date” shall mean July 2, 2015.”
““Merger Sub” shall mean Neptune Acquisition Subsidiary, Inc., a Delaware corporation and a Wholly-Owned Domestic Subsidiary of the Company.”
		
	2.
	The last clause of the definition of “Asset Sale” is hereby amended and restated in its entirety as follows:

“, but excluding sales, transfers and other dispositions of assets pursuant to Sections 10.02 (b), (c), (d), (g), (h), (i), (j), (l), (m), (n), (o),  (q), (r), (s) and (t).”
		
	3.
	Clause (iii) of the definition of “Change of Control” is hereby amended and restated in its entirety as follows:

“(iii) during any period of 24 consecutive months, a majority of the members of the board of directors or other equivalent governing body of the Company cease to be composed of individuals (x) who were members of that board or equivalent governing body on the first day of such period, (y) whose election or nomination to that board or equivalent governing body was approved by individuals 

referred to in clause (x) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body or (z) whose election or nomination to that board or other equivalent governing body was approved by individuals referred to in clauses (x) and (y) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body”.
		
	4.
	Clause (iv) of the definition of “Change of Control” is hereby amended and restated in its entirety as follows:

“(iv) a “change of control” or similar event shall occur as provided in any Permitted Convertible Notes Document, any Cyan Convertible Notes Documents (other than as a result of the Cyan Acquisition) or any Permitted Additional Indebtedness Document.”
		
	5.
	The definition of “Consolidated Interest Expense” is hereby amended by adding the following proviso immediately prior to the “.” at the end of the current definition as follows:

“; provided that, notwithstanding anything to the contrary in the foregoing, any interest in respect of the Cyan Convertible Notes funded from amounts deposited by Cyan prior to the consummation of the Cyan Acquisition in the Escrow Account (as defined in the Cyan Pledge and Escrow Agreement) shall be excluded from preceding clause (i) in the determination of “Consolidated Interest Expense””.
		
	6.
	The definition of “Consolidated Secured Indebtedness” is hereby amended by adding the following proviso immediately prior to the “.” at the end of the current definition as follows:

“; provided, further, that the Cyan Convertible Notes shall not be included in any determination of “Consolidated Secured Indebtedness so long as the only collateral that secures the obligations in respect of the Cyan Convertible Notes is the Pledged Collateral (as defined in the Cyan Pledge and Escrow Agreement (as in effect on the Fifth Amendment Effective Date and thereafter as amended, restated, supplemented or otherwise modified from time to time so long as such amendment, restatement, supplement or modification is not adverse to the interests of the Lenders in any material respect)  that has been deposited into the Escrow Account (as defined in the Cyan Pledge and Escrow Agreement) by Cyan prior to the consummation of the Cyan Acquisition (and any investment earnings thereon)””.
		
	7.
	The definition of “Continuing Director” is hereby deleted in its entirety. 

		
	8.
	The last sentence in the definition of “Dividend” is hereby amended and restated in its entirety as follows:

“For the avoidance of doubt, no conversion of Permitted Convertible Notes or Cyan Convertible Notes into Company Common Stock and no redemption, purchase, repayment or other acquisition or retirement of Permitted Convertible Notes or Cyan Convertible Notes prior to the conversion thereof into Company Common Stock shall constitute a Dividend.” 
		
	9.
	The definition of “Equity Interests” is hereby amended and restated in its entirety as follows:

““Equity Interests” of any Person shall mean any and all shares, interests, rights to purchase, warrants, options, participation or other equivalents of or interest in (however designated) equity of such Person, including any common stock, preferred stock, any limited or general partnership interest and any limited liability company membership interest, but excluding, for the avoidance of doubt, any Permitted Convertible Notes and any Cyan Convertible Notes to the extent that the same have not yet been converted into shares of Company Common Stock.”
		
	10.
	Clause (a)(x) of the definition of “Fixed Charges” is hereby amended and restated in its entirety as follows:

“(x) the payment of any Permitted Convertible Notes or any Cyan Convertible Notes at their respective final maturity date,”.

		
	11.
	The definition of “L/C Supportable Obligations” is hereby amended by adding a new subclause (v) immediately prior to subclause (w) in the parenthetical of clause (ii) thereof as follows:

“(v) any Cyan Convertible Notes,”.
		
	12.
	The first clause of the definition of “Permitted Acquisition” is hereby amended to add “(including indirectly by way of merger or amalgamation through a direct Wholly-Owned Subsidiary of such Credit Party that merges or amalgamates with and into such Acquired Entity or Business and the surviving Person of such merger or amalgamation is a direct Wholly-Owned Subsidiary of such Credit Party)” immediately after the words “by a Credit Party of an Acquired Entity or Business”.

(b)    Section 8.08(a) of the Credit Agreement is hereby amended by inserting the text “or, following the consummation of the Cyan Acquisition, any Cyan Convertible Notes” immediately following the text “any Permitted Convertible Notes” appearing therein.

(c)    Section 9.01(f)(ii) of the Credit Agreement is hereby amended and restated in its entirety as follows:

“(ii) deliver to holders (or any trustee, agent or other representative therefor) of any Qualified Preferred Stock, any Permitted Convertible Notes, any Cyan Convertible Notes or any Permitted Additional Indebtedness pursuant to the terms of the documentation governing the same (other than notices, reports or information of an administrative or ministerial nature).”
(d)    Section 10.01 of the Credit Agreement is hereby amended as follows:

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

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

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

“(y) from and after the consummation of the Cyan Acquisition, (i) Liens on the Pledged Collateral (as defined in the Cyan Pledge and Escrow Agreement as in effect on the Fifth Amendment Effective Date and thereafter as amended, restated, supplemented or otherwise modified from time to time so long as such amendment, restatement, supplement or modification is not adverse to the interests of the Lenders in any material respect) deposited by Cyan prior to the consummation of the Cyan Acquisition (and any investment earnings on such Pledged Collateral) to secure the obligations of Cyan and the Company under the Cyan Convertible Notes Documents, the amount of which shall not exceed $12,033,333.33 plus any investment earnings and accrued interest on such Pledged Collateral; and (ii) to the extent constituting a Lien, (A) to the extent that the repurchase or redemption thereof is permitted by Section 10.08, cash deposited with the trustee or any paying agent under the Cyan Convertible Notes Documents, or held in trust by the Company, to satisfy the obligation of the Company to repurchase or redeem all or a portion of the Cyan Convertible Notes in accordance with the terms of the Cyan Convertible Notes Documents following the consummation of the Cyan Acquisition, and (B) to the extent that the prepayment, repurchase or redemption thereof is permitted by Section 10.08, cash deposited with the trustee or any paying agent under the applicable Indebtedness, or held in trust by the Company, in connection with the prepayment, repurchase or redemption of such Indebtedness.”
		
	4.
	replacing the text  “clauses (c), (f), (g), (i), (m), (t) and (x)” in the last paragraph of Section 10.01 with the text  “clauses (c), (f), (g), (i), (m), (t), (x) and (y)”.

(e)    Section 10.02 of the Credit Agreement is hereby amended as follows:

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

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

		
	3.
	inserting the following new clause (t) immediately following clause (s) thereof:

 “(t)    dispositions and transfers of property by Cyan (or the Company as successor by merger to Cyan) or any Subsidiary of Cyan to the Company or any Subsidiary of the Company; provided that the property which is the subject of any such disposition and transfer is limited to property of Cyan and its Subsidiaries held immediately prior to the Cyan Acquisition.”
(f)    Section 10.04 of the Credit Agreement is hereby amended as follows:

		
	1.
	subclause (ii) of clause (f) thereof is hereby amended and restated in its entirety as follows:

“(ii) the U.S. Credit Parties of each other’s Indebtedness and lease and other contractual obligations (other than obligations in respect of Permitted Convertible Notes or Cyan Convertible Notes),”
		
	2.
	deleting the text “and” at the end of clause (o) thereof;

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

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

“(q) upon the consummation of the Cyan Acquisition, Indebtedness of Cyan and the Company under the Cyan Convertible Notes Documents (including any Guarantee by the Company thereunder.”
(g)    Section 10.05(t) of the Credit Agreement is hereby amended by inserting the following new clause (w) immediately before clause (x) therein:

“(w) cash deposits to secure obligations described in Section 10.01(y),”
(h)    Section 10.08 of the Credit Agreement is hereby amended as follows:

		
	1.
	inserting the text “any Cyan Convertible Notes,” immediately prior to the text “any Permitted Convertible Note” located immediately after the second parenthetical in the introductory sentence of clause (a) thereto;

		
	2.
	inserting the text “or any Cyan Convertible Notes,” immediately prior to the text “any Permitted Convertible Notes” located in subclause (i) of clause (a) thereto;

		
	3.
	deleting the text “principal” located in subclause (ii) of clause (a) thereto;

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

		
	5.
	deleting the text “solely” in subclause (iv)(x) of clause (a) thereto; 

		
	6.
	(i) inserting the text “and Cyan Convertible Notes” immediately after the text “Permitted Convertible Notes” in all places where the text “Permitted Convertible Notes” is referenced in sublcause (v) of clause (a) thereto, and (ii) inserting the text “and Cyan Convertible Notes Documents” immediately after the text “Permitted Convertible Notes Documents” located in subclause (v) of clause (a) thereto;

		
	7.
	deleting the text “and” at the end of clause (v) thereof;

		
	8.
	deleting the “;” at the end of clause (vi) thereof and inserting the text “; and” in lieu thereof; 

		
	9.
	inserting the following new clauses (vii) immediately following clause (vi) thereof: 

“(vii)    from and after the consummation of the Cyan Acquisition and so long as no Default or Event of Default then exists or would result therefrom, the Company may make any payment or prepayment on, or redemption, repurchase or acquisition for value of, any Cyan Convertible Notes in accordance with the terms of the Cyan Convertible Notes Documents;”
		
	10.
	deleting the text “or” at the end of clause (c) thereof;

		
	11.
	inserting the text “and other than any Cyan Convertible Notes Document (the amendment, modification or waiver of which shall be governed by clause (e) of this Section 10.08)” immediately after the first parenthetical in the first sentence of clause (d) thereof;

		
	12.
	deleting the “.” at the end of clause (d) thereof and inserting the text “; or” in lieu thereof; and

		
	13.
	inserting the following new clause (e) immediately following clause (d) thereof

“(e)     amend, modify, change or waive any term or provision of any Cyan Convertible Notes Document in a manner which is adverse to the interests of the Lenders in any material respect (it being understood that any supplemental indenture described in the definition of Cyan Convertible Notes Documents shall be deemed to not be adverse to the interests of the Lenders in any material respect).”
(i)    Section 10.09 of the Credit Agreement is hereby amended as follows:

		
	1.
	clause (c)(iii) is hereby amended and restated in its entirety as follows:

“(iii) the Permitted Convertible Notes Indenture and the other Permitted Convertible Notes Documents, and the Cyan Indenture (as in effect on the Fifth Amendment Effective Date assuming for purposes of this clause (iii) the application of Section 4.14 of the Cyan Indenture has occurred as a result of a Fundamental Change (as such term is defined in the Cyan Indenture) described in clause (a) or (b) of the definition thereof and thereafter as amended, restated, supplemented or otherwise modified from time to time so long as such amendment, restatement, supplement or modification is not adverse to the interests of the Lenders in any material respect) and the other Cyan Convertible Notes Documents (as in effect on the Fifth Amendment Effective Date assuming for purposes of this clause (iii) the application of Section 4.14 of the Cyan Indenture has occurred as a result of a Fundamental Change (as such term is defined in the Cyan Indenture) described in clause (a) or (b) of the definition thereof and thereafter as amended, restated, supplemented or otherwise modified from time to time so long as such amendment, restatement, supplement or modification is not adverse to the interests of the Lenders in any material respect),”
		
	2.
	replacing clause (viii) thereof in its entirety as follows:

“(viii) restrictions on the transfer of any asset subject to a Lien permitted by Section 10.01(c), (e), (f), (g), (l), (m), (n), (t), (u), (v), (x) or (y)”.
(j)    Section 10.13 of the Credit Agreement is hereby amended by inserting the following text at the end of clause (A) of the proviso thereto:

“(or, so long as no Dominion Period then exists, in connection with any such Core Deposit Account acquired in connection with a Permitted Acquisition or other Investment permitted by Section 10.05, within 90 days after the consummation of such Permitted Acquisition or Investment (as such date may be extended from time to time by the Administrative Agent in its sole discretion), the applicable Credit Party either (x) shall have closed such Core Deposit Account and transferred the funds thereof to another Core Deposit Account that is subject to a Cash Management Control Agreement or (y) shall have provided the requisite Cash Management Control Agreements and updated Schedule 10.13 to the Administrative Agent in connection with 

such Core Deposit Accounts as may otherwise be required by the provisions of this clause (A) (it being understood that during any Dominion Period the Credit Parties shall comply with the provisions of this Section 10.13 without giving effect to this parenthetical provision))”.
SECTION 2.    Confirmation of Guarantees and Security Interest.  By signing this Amendment, each Credit Party hereby confirms that (x) the obligations of the Credit Parties under the Credit Agreement as modified or supplemented hereby and the other Credit Documents (i) are entitled to the benefits of the guarantees and the security interests set forth or created in the Guaranty Agreement, Security Agreement, Pledge Agreement, the other Security Documents and the other Credit Documents, and (ii) constitute “Obligations” or such other similar term for purposes of the Credit Agreement, the Guaranty Agreement, Security Agreement, Pledge Agreement, all other Security Documents and all other Credit Documents, and (y) notwithstanding the effectiveness of the terms hereof, the Guaranty Agreement, Security Agreement, Pledge Agreement, other Security Documents and other Credit Documents are, and shall continue to be, in full force and effect and are hereby ratified and confirmed in all respects.  Each Credit Party ratifies and confirms that all Liens granted, conveyed, or assigned to the Collateral Agent by such Person pursuant to any Credit Document to which it is a party remain in full force and effect, are not released or reduced, and continue to secure full payment and performance of the Obligations.  Each Credit Party further ratifies and confirms that the priority of security and other terms of the Intercreditor Agreement remain in full force and effect, are not affected by this Amendment and continue to govern, among other things, the priority of the Collateral as between the Lenders party to the Credit Agreement and the lenders party to the 2014 Term Facility.
SECTION 3.    Representations and Warranties.  In order to induce the Administrative Agent, the Collateral Agent and the undersigned Lenders to enter into this Amendment, each of the Company and each other Borrower hereby represents and warrants that:
(a)As of the Fifth Amendment Effective Date, (as hereinafter defined), both immediately before and immediately after giving effect to this Amendment, (a) there shall exist no Default or Event of Default and (b) all representations and warranties contained in the Credit Agreement and in the other Credit Documents shall be true and correct in all material respects with the same effect as though such representations and warranties had been made on the Fifth 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 as of any such date).

(b)    Each Credit Party has the Business power and authority to execute, deliver and perform the terms and provisions of this Amendment and has taken all necessary Business action to authorize the execution, delivery and performance by it of this Amendment.  Each Credit Party has duly executed and delivered this Amendment, and this Amendment constitutes its legal, valid and binding obligation enforceable in accordance with its terms, except to the extent that the enforceability thereof may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws generally affecting creditors’ rights and by equitable principles (regardless of whether enforcement is sought in equity or at law).

(c)    Neither the execution, delivery or performance by any Credit Party of this Amendment, nor compliance by it with the terms and provisions thereof, (i) will contravene any provision of any law, statute, rule or regulation or any order, writ, injunction or decree of any court or Governmental Authority, (ii) will conflict with or result in any breach of any of the terms, covenants, conditions or provisions of, or constitute a default under, or result in the creation or imposition of (or the obligation to create or impose) any Lien (except pursuant to the Security Documents) upon any of the property or assets of any Credit Party or any of its Subsidiaries pursuant to the terms of any material indenture, mortgage, deed of trust, credit agreement or loan agreement, or any other material agreement, contract or instrument, in each case to which any Credit Party or any of its Subsidiaries is a party or by which it or any of its property or assets is bound or to which it may be subject including, without limitation, the Existing Convertible Notes Indentures or the 2014 Term Facility, or (iii) will violate any provision of the certificate or articles of incorporation, certificate of formation, limited liability company agreement or by-laws (or equivalent organizational documents), as applicable, of any Credit Party or any of their respective Subsidiaries.

SECTION 4.    Effectiveness.      This Amendment shall become effective on the date (the “Fifth Amendment Effective Date”) when:
(a)    the Company, each other Borrower, each other Guarantor, the Administrative Agent, the Collateral Agent and the Required 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, c/o White & Case LLP, 633 West Fifth Street, Suite 1900, Los Angeles, California 90071-2007 Attention: Nicole Rodger (facsimile number: (213) 452-2329 / e-mail address: nrodger@whitecase.com);

(b)    an executed copy of the Second Amendment to Term Loan Credit Agreement, dated as of July 2, 2015, between the Company, the Administrative Agent (as defined in the 2014 Term Facility) and the other parties thereto, shall be delivered to the Administrative Agent and shall be effective substantially contemporaneously herewith; and

(c)    all fees and expenses due and payable on or prior to the Fifth Amendment Effective Date under the Credit Agreement or any other Credit Document, including, to the extent invoiced, reimbursement or payment of all out-of-pocket expenses required to be reimbursed or paid by the Company under the Credit Agreement or any other Credit Document, shall have been paid.

SECTION 5.    Reference To and Effect Upon the Credit Documents.
(a)    From and after the Fifth Amendment Effective Date, (i) the term “Agreement” in the Credit Agreement, and all references to the Credit Agreement in any other Credit Document, shall mean the Credit Agreement as modified hereby and (ii) this Amendment shall constitute a “Credit Document” for all purposes of the Credit Agreement and the other Credit Documents.   

(b)    This Amendment is limited as specified and shall not constitute a modification, acceptance or waiver of any other provision of the Credit Agreement or any other Credit Document or a novation of existing obligations and liabilities under the Credit Documents. The Credit Agreement and each of the other Credit Documents, as specifically amended by this Amendment, are and shall continue to be in full force and effect and are hereby in all respects ratified and confirmed.

SECTION 6.    Counterparts, Etc.  This Amendment may be executed in any number of counterparts, each of which when so executed shall be deemed an original, but all such counterparts shall constitute one and the same instrument, and all signatures need not appear on any one counterpart. Any party hereto may execute and deliver a counterpart of this Amendment by delivering by facsimile or other electronic transmission a signature page of this Amendment signed by such party, and any such facsimile or other electronic signature shall be treated in all respects as having the same effect as an original signature. Section headings in this Amendment are included herein for convenience of reference only and shall not constitute part of this Amendment for any other purpose.  A complete set of counterparts of this Amendment shall be lodged with the Borrowers and Administrative Agent.
SECTION 7.    Governing Law. This Amendment and the rights and obligations of the parties under this Amendment shall be governed by, and construed and interpreted in accordance with, the law of the State of New York.

[Signature Pages to follow]

IN WITNESS WHEREOF, the parties hereto have caused their duly authorized officers to execute and deliver this Amendment as of the date first above written. 

	
	
	CIENA CORPORATION

	

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

	
	
	CIENA COMMUNICATIONS, INC.

	

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

	
	
	CIENA GOVERNMENT SOLUTIONS, INC.

	

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

	
	
	CIENA CANADA, INC.

	

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

	
	
	DEUTSCH BANK AG NEW YORK BRANCH,
as Administrative Agent, as Collateral Agent and as a 
Lender

	

By:  /s/ Anca Trifan                                                                 
       Name: Anca Trifan
       Title:   Manging Director

By:  /s/ Michael Winters                                                         
       Name:  Michael Winters
       Title:    Vice President

	
	
	SIGNATURE PAGE TO FIFTH AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE DATE FIRST WRITTEN ABOVE, AMONG CIENA CORPORATION, CIENA COMMUNICATIONS, INC., CIENA CANADA, INC., THE LENDERS PARTY THRETO ADN DEUTSCH BANK AG NEW YORK BRANCH, AS ADMINISTRATIVE AGENT AND AS COLLATERAL AGENT

NAME OF INSTITUTION:

Bank of America, N.A.

By:  /s/ John Olsen                                                                   
Name:  John Olsen                                                                             
Title:    Senior Vice President

	 

	SIGNATURE PAGE TO FIFTH AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE DATE FIRST WRITTEN ABOVE, AMONG CIENA CORPORATION, CIENA COMMUNICATIONS, INC., CIENA CANADA, INC., THE LENDERS PARTY THRETO ADN DEUTSCH BANK AG NEW YORK BRANCH, AS ADMINISTRATIVE AGENT AND AS COLLATERAL AGENT

NAME OF INSTITUTION:

Bank of America, N.A. (acting through its Canada Branch)

By:  /s/ Sylwia Durkiewicz                                                     
Name:  Sylwia Durkiewicz                                                                         
Title:    Vice President

	 

	SIGNATURE PAGE TO FIFTH AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE DATE FIRST WRITTEN ABOVE, AMONG CIENA CORPORATION, CIENA COMMUNICATIONS, INC., CIENA CANADA, INC., THE LENDERS PARTY THRETO ADN DEUTSCH BANK AG NEW YORK BRANCH, AS ADMINISTRATIVE AGENT AND AS COLLATERAL AGENT

NAME OF INSTITUTION:

Wells Fargo Bank, National Association

By:  /s/ Tony Leadbetter                                                          
Name:  Tony Leadbetter                                                                      
Title:    Duly Authorized Signatory

	 

	
	
	SIGNATURE PAGE TO FIFTH AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE DATE FIRST WRITTEN ABOVE, AMONG CIENA CORPORATION, CIENA COMMUNICATIONS, INC., CIENA CANADA, INC., THE LENDERS PARTY THRETO ADN DEUTSCH BANK AG NEW YORK BRANCH, AS ADMINISTRATIVE AGENT AND AS COLLATERAL AGENT

NAME OF INSTITUTION:

______________________________________

By:  /s/ David G. Phillips                                                        
Name:  David G. Phillips                                                                          
Title:    Senior Vice President
             Credit Officer, Canada
             Wells Fargo Capital Finance
             Corporation Canada

	 

	SIGNATURE PAGE TO FIFTH AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE DATE FIRST WRITTEN ABOVE, AMONG CIENA CORPORATION, CIENA COMMUNICATIONS, INC., CIENA CANADA, INC., THE LENDERS PARTY THRETO ADN DEUTSCH BANK AG NEW YORK BRANCH, AS ADMINISTRATIVE AGENT AND AS COLLATERAL AGENT

NAME OF INSTITUTION:

JP Morgan Chase Bank, N.A.

By:  /s/ Robert A. Kaulius                                                       
Name:  Robert A. Kaulius                                                                        
Title:    Authorized Officer

	 

	SIGNATURE PAGE TO FIFTH AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE DATE FIRST WRITTEN ABOVE, AMONG CIENA CORPORATION, CIENA COMMUNICATIONS, INC., CIENA CANADA, INC., THE LENDERS PARTY THRETO ADN DEUTSCH BANK AG NEW YORK BRANCH, AS ADMINISTRATIVE AGENT AND AS COLLATERAL AGENT

NAME OF INSTITUTION:

Morgan Stanley Bank, N.A.

By:  /s/ Roberto Ellinghaus                                                      
Name:  Roberto Ellinghaus                                                                            
Title:    Authorized SignatoryExhibit

VOTING AND SUPPORT AGREEMENT
This VOTING AND SUPPORT AGREEMENT (this “Agreement”) is entered into as of September 7, 2015, by and among Meredith Corporation, an Iowa corporation (“Marigold”), Media General, Inc., a Virginia corporation (“Montage”), and each of the Persons listed on Schedule A hereto (each, a “Shareholder” and, collectively, the “Shareholders”).
W I T N E S S E T H:
WHEREAS, as of the date of this Agreement, each Shareholder is the record and/or a “beneficial owner” (as defined under Rule 13d-3 under the Exchange Act) of the shares of Montage Voting Common Stock set forth opposite such Shareholder’s name on Schedule A attached hereto (all such shares of Montage Voting Common Stock, the “Owned Shares”, and together with any shares of Montage Voting Common Stock over which a Shareholder acquires record or beneficial ownership after the date hereof, the “Subject Shares”);
WHEREAS, concurrently herewith, Montage, Montage New Holdco, Inc., a Virginia corporation and a direct, wholly owned subsidiary of Montage (“New Holdco”), Montage Merger Sub 1, Inc., a Virginia corporation and a direct, wholly owned subsidiary of New Holdco (“Merger Sub 1”), Montage Merger Sub 2, Inc., an Iowa corporation and a direct, wholly owned subsidiary of New Holdco (“Merger Sub 2”), and Marigold are entering into an Agreement and Plan of Merger, dated as of the date hereof (as it may be amended from time to time, the “Merger Agreement”), pursuant to which Montage and Marigold wish to effect a strategic business combination by means of (a) a merger of Merger Sub 1 with and into Montage (the “First Merger”), with Montage being the surviving corporation in the First Merger, and (b) a merger of Merger Sub 2 with and into Marigold (the “Second Merger”, and together with the First Merger, the “Mergers”, and the effective time of the Second Merger, the “Second Merger Effective Time”), with Marigold being the surviving corporation in the Second Merger;
WHEREAS, (i) the affirmative vote of holders of a majority of all votes cast by holders of shares of Montage Voting Common Stock is the only vote of the holders of any class or series of Montage’s capital stock necessary to approve the Montage Charter Amendment and (ii) the affirmative vote of the holders of a majority of all votes cast, including, for these purposes, abstentions, by holders of shares of Montage Voting Common Stock is the only vote of the holders of any class or series of Montage’s capital stock necessary to approve the New Holdco Share Issuance (the affirmative votes described in clauses (i) and (ii), together, the “Required Montage Vote”); and
WHEREAS, as a condition to the willingness of Marigold to enter into the Merger Agreement, and as inducement and in consideration therefor, Marigold has required that the Shareholders agree, and the Shareholders have agreed, in their capacity as shareholders of Montage, to enter into this Agreement.
NOW, THEREFORE, in consideration of the foregoing and the mutual premises, representations, warranties, covenants and agreements contained in this Agreement, the parties, intending to be legally bound, hereby agree as follows:

1

ARTICLE I 
DEFINITIONS
SECTION 1.1    Defined Terms.  For purposes of this Agreement, capitalized terms used in this Agreement that are defined in the Merger Agreement but not in this Agreement shall have the respective meanings ascribed to them in the Merger Agreement.
SECTION 1.2    Other Definitions.  For purposes of this Agreement:
(a)    “Affiliate” means, with respect to any Person, any other Person directly or indirectly controlling, controlled by, or under common control with, such Person as of the date on which, or at any time during the period for which, the determination of affiliation is being made.  For purposes of this definition, the term “control” (including the correlative meanings of the terms “controlled by” and “under common control with”), as used with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management policies of such Person, whether through the ownership of voting securities or by contract or otherwise.  For purposes of this Agreement, neither Marigold nor Montage shall be deemed to be an Affiliate of any Shareholder.
(b)    “Montage Voting Common Stock” means the Voting Common Stock, no par value, of Montage.
(c)    “Representatives” shall mean, with respect to any Person, such Person’s officers, directors, employees, accountants, consultants, legal counsel, financial advisors, agents and other representatives.
(d)    “Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.
(e)    “Voting Period” means the period from and including the date of this Agreement through and including the earlier to occur of (a) the Second Merger Effective Time, and (b) the termination of the Merger Agreement in accordance with its terms; provided, however, the Voting Period shall be extended for 180 days from the date of termination if the Merger Agreement is terminated pursuant to (i) Section 8.1(d) thereof due to a breach by Montage, New Holdco, Merger Sub 1 or Merger Sub 2, (ii) Section 8.1(e)(i) thereof, (iii) Section 8.1(f) thereof, or (iv) Section 8.1(i) thereof by Marigold. 
(f)    “Transfer” means (i) any direct or indirect sale, assignment, disposition or other transfer, either voluntary or involuntary, of any capital stock or any interest in any capital stock or (ii) in respect of any capital stock or interest in any capital stock, to enter into any swap or other agreement, transaction or series of transactions, in each case that has an exercise or conversion privilege or a settlement or payment mechanism determined with reference to, or derived from the value of, the capital stock of Montage, and that hedges or transfers, in whole or in part, directly or indirectly, the economic consequences of such capital stock or interest in capital stock, whether any such transaction, swap or series of transactions is to be settled by delivery of securities, in cash or otherwise; provided, that no Transfer shall be deemed to have occurred as a result of the entry into, modification of or existence of any bona fide pledge of capital stock in connection with a secured 

2

borrowing transaction, the pledgee with respect to which is a financial institution in the business of engaging in secured lending and similar transactions and which has entered into such transaction in the ordinary course of business, or any foreclosure under any such pledge.
ARTICLE II     
VOTING AGREEMENT AND IRREVOCABLE PROXY
SECTION 2.1    Agreement to Vote.
(g)    Each Shareholder hereby agrees that during the Voting Period, at any meeting of the shareholders of Montage, however called, or at any adjournment or postponement thereof, or in connection with any written consent of the shareholders of Montage or in any other circumstances upon which a vote, consent or other approval of all or some of the shareholders of Montage is sought with respect to the matters described in this Section 2.1, each Shareholder shall vote (or cause to be voted), or execute (or cause to be executed) consents with respect to, as applicable, all of the Subject Shares owned by such Shareholder as of the applicable record date (x) in favor of the approval and adoption of the Montage Charter Amendment, the New Holdco Share Issuance and the other transactions contemplated by the Merger Agreement, and (y) against each of the matters set forth in clauses (i), (ii), (iii) and (iv) below, whether such vote or consent is required or requested pursuant to applicable Law or otherwise:
(i)    any Acquisition Proposal with respect to Montage or any other merger, consolidation, combination, sale of substantial assets, reorganization, recapitalization, dissolution, liquidation or winding up of or by Montage or any other business combination involving Montage or any of its Subsidiaries or any merger agreement or other definitive agreement with respect to any of the foregoing, in each case, other than the First Merger and the other transactions contemplated by the Merger Agreement and other than the Merger Agreement;
(ii)    any action or proposal to amend the Montage Organizational Documents, other than the Montage Charter Amendment;
(iii)    any action, proposal, transaction or agreement that would reasonably be expected to result in a breach in any material respect of any covenant, representation or warranty or any other obligation or agreement of Montage contained in the Merger Agreement or of such Shareholder contained in this Agreement; and
(iv)    any action, proposal, transaction or agreement involving Montage or any of its Subsidiaries that is intended or would reasonably be expected to prevent, impede, frustrate, interfere with, delay, postpone or adversely affect the consummation of the First Merger or the other transactions contemplated by the Merger Agreement.
(h)    With respect to any meeting of the shareholders of Montage held during the Voting Period, each Shareholder shall, or shall cause the holder of record of its Subject Shares beneficially owned by such Shareholder on any applicable record date to, appear at such meeting or otherwise cause its Subject Shares to be counted as present thereat for purposes of establishing a quorum.  Any vote required to be cast or consent required to be executed pursuant to this Section 2.1 shall 

3

be cast or executed in accordance with the applicable procedures relating thereto so as to ensure that it is duly counted for purposes of recording the results of that vote or consent.
(i)    Except as explicitly set forth in this Section 2.1, nothing in this Agreement shall limit the right of a Shareholder to vote (or cause to be voted), including by proxy or written consent, if applicable, in favor of, or against or to abstain with respect to, any matters presented to the shareholders of Montage.
SECTION 2.2    Grant of Irrevocable Proxy.  Each Shareholder hereby irrevocably appoints Marigold and any of its respective designees, and each of them individually, as such Shareholder’s proxy, with full power of substitution and resubstitution, to vote or execute consents during the Voting Period, with respect to such Shareholder’s Subject Shares as of the applicable record date, in each case solely to the extent and in the manner specified in Section 2.1 (the “Proxy Matters”).  This proxy is given to secure the performance of the duties of such Shareholder under this Agreement.  Such Shareholder shall not directly or indirectly grant any Person any proxy (revocable or irrevocable), power of attorney or other authorization with respect to any of its Subject Shares that is inconsistent with Section 2.1 or this Section 2.2. It is expressly agreed that the proxy granted herein shall survive beyond the eleventh month after the date hereof to the extent the Voting Period is still in effect. 
SECTION 2.3    Nature of Irrevocable Proxy.  The proxy granted pursuant to Section 2.2 by each Shareholder shall be irrevocable during the Voting Period, shall be deemed to be coupled with an interest sufficient in law to support an irrevocable proxy and shall revoke any and all prior proxies granted by such Shareholder with regard to such Shareholder’s Subject Shares in respect of the Proxy Matters, and such Shareholder acknowledges that the proxy constitutes an inducement for Marigold to enter into the Merger Agreement.  The proxy granted by each Shareholder is a durable proxy and shall survive the bankruptcy, dissolution, death or incapacity of such Shareholder.  The proxy granted hereunder shall terminate only upon the expiration of the Voting Period.
ARTICLE III     
COVENANTS
SECTION 3.1    Restriction on Transferring Subject Securities.  
(a)    Each Shareholder agrees that such Shareholder shall not, during the period from and including the date of this Agreement through and including the earlier to occur of (i) the date the Required Montage Vote shall have been obtained, and (ii) the termination of the Merger Agreement in accordance with its terms, Transfer, or cause or permit the Transfer of, any or all of such Shareholder’s Subject Shares, or any voting rights with respect thereto.
(b)    The restrictions set forth in Section 3.1(a) shall not apply to:
(i)    any Transfer of Subject Shares that is approved in writing by Marigold; or 
(ii)    any Transfer of Subject Shares, provided that (x) the transferee shall concurrently with such Transfer execute a customary joinder in form and substance reasonably satisfactory to Marigold agreeing to be a “Shareholder” hereunder if such 

4

transferee is not already a party to this Agreement, provided that the transferee’s obligations under this Agreement shall terminate on the earlier to occur of (1) the date the Required Montage Vote shall have been obtained, and (2) the termination of the Merger Agreement in accordance with its terms, (y) the Shareholder that beneficially owns the Transferred Subject Shares prior to the Transfer shall be responsible for such transferee’s (and its direct or indirect subsequent transferees’) performance of its (or their) obligations as a Shareholder under this Section 3.1, and (z) any such Transfer of Subject Shares will not result in the conversion of such shares of Montage Voting Common Stock into shares of Montage Non-Voting Common Stock.
(c)    Each Shareholder agrees with, and covenants to, Marigold that such Shareholder shall not request that Montage register the Transfer (book-entry or otherwise) of any certificate or uncertificated interest representing any or all of the Shareholder’s Subject Shares, unless such Transfer is made in compliance with this Agreement.
(d)    Any Transfer or attempted Transfer of Subject Shares or voting rights with respect thereto in violation of this Section 3.1 shall, to the fullest extent permitted by Law, be null and void ab initio, and Montage shall not, and shall instruct its transfer agent and other third parties not to, record or recognize any such purported transaction on the share register of Montage. 
SECTION 3.2    No Shop Obligations of Each Shareholder.  
(a)    Each Shareholder shall, and each Shareholder shall cause each of its Representatives to, immediately cease and cause to be terminated any discussions existing as of the date of this Agreement with any Person that relate to any Acquisition Proposal or Acquisition Inquiry in respect of Montage proposed on or prior to the date hereof. Each Shareholder agrees that, during the Voting Period, such Shareholder shall not, and such Shareholder shall cause its Representatives acting on its behalf not to, directly or indirectly, (i) solicit, initiate, knowingly encourage or knowingly facilitate the making, submission or announcement of any Acquisition Proposal with respect to Montage or Acquisition Inquiry with respect to Montage, (ii) furnish any non-public information regarding Montage or any of its Subsidiaries (or such Shareholder’s Subject Shares, or any interest therein) to any Person who has made an Acquisition Proposal with respect to Montage or Acquisition Inquiry with respect to Montage, (iii) engage in discussions or negotiations with any Person who has made any Acquisition Proposal with respect to Montage or Acquisition Inquiry with respect to Montage (other than discussions in the ordinary course of business that are unrelated to an Acquisition Proposal or Acquisition Inquiry, which shall be permitted), (iv) approve, endorse or recommend any Acquisition Proposal with respect to Montage or Acquisition Inquiry with respect to Montage or withdraw or propose to withdraw its approval and recommendation in favor of this Agreement and the transactions contemplated hereby, including the First Merger and Second Merger; or (v) enter into any letter of intent, agreement in principle, merger, acquisition, purchase or joint venture agreement or other similar agreement for any Acquisition Transaction with respect to Montage (“Restricted Activities”).  A Shareholder shall promptly notify Montage and Marigold orally and in writing of any such Acquisition Proposal or Acquisition Inquiry received by the Shareholder in its capacity as a shareholder of Montage (including the identity of the Person making or submitting such Acquisition Proposal or Acquisition Inquiry and the terms thereof and all modifications thereto). 

5

(b)    Notwithstanding the foregoing, solely to the extent that Montage is permitted to engage in any Restricted Activities pursuant to Section 6.11 of the Merger Agreement, each Shareholder and its Representatives may participate in such Restricted Activities, provided that (i) such Shareholder has not breached this Section 3.2 and (ii) such action by such Shareholder and its Representatives would be permitted to be taken by Montage pursuant to Section 6.11 of the Merger Agreement. 
SECTION 3.3    No Conversion of Montage Voting Common Stock.  Each Shareholder agrees that, without the prior written consent of Marigold, during the Voting Period, such Shareholder shall not cause any shares of Montage Voting Common Stock held of record or beneficially owned by such Shareholder to be converted into shares of Montage Non-Voting Common Stock, and such Shareholder shall take all action necessary so that shares of Montage Voting Common Stock that are Subject Shares are not converted into shares Montage Non-Voting Common Stock.  Each Shareholder agrees with, and covenants to, Marigold that such Shareholder shall not request that Montage register the conversion (book-entry or otherwise) of any certificate or uncertificated interest representing any or all of the shares of Montage Voting Common Stock that are Subject Shares into Montage Non-Voting Common Stock.  Any conversion of shares of Montage Voting Common Stock in violation of this Section 3.3 shall, to the fullest extent permitted by Law, be null and void ab initio, and Montage shall not, and shall instruct its transfer agent and other third parties not to, record or recognize any such purported conversion on the share register of Montage. 
ARTICLE IV     
GENERAL COVENANTS
SECTION 4.1    General Covenants.  Each Shareholder agrees that such Shareholder shall not:
(c)    enter into any agreement, commitment, letter of intent, agreement in principle or understanding with any Person or take any other action that violates or conflicts with, or would reasonably be expected to violate or conflict with, such Shareholder’s covenants and obligations under this Agreement; or
(d)    take any action that restricts or otherwise adversely affects such Shareholder’s legal power, authority and right to comply with and perform such Shareholder’s covenants and obligations under this Agreement.
SECTION 4.2    Cooperation.  Each Shareholder shall reasonably cooperate with Marigold and Montage in connection with Marigold’s and Montage’s efforts to make any necessary filings and submissions with, and obtain any necessary consents, approvals, waivers and authorizations of, and actions or nonactions by, any Governmental Entity or any third party necessary to be made in connection with the transactions contemplated by the Merger Agreement, and shall provide to Marigold and/or Montage reasonably promptly any information regarding such Shareholder and its Affiliates as shall be reasonably requested by Marigold or Montage in connection with such efforts. Each Shareholder shall make as promptly as practicable all necessary filings and submissions required to be made by it with any Governmental Entity in connection with the transactions contemplated by the Merger Agreement. 

6

ARTICLE V     
REPRESENTATIONS AND WARRANTIES OF THE SHAREHOLDERS
Each Shareholder hereby represents and warrants to Marigold and Montage as follows:
SECTION 5.1    Authorization.  Such Shareholder has all necessary legal capacity, power and authority to execute and deliver this Agreement and to perform its obligations hereunder.  This Agreement has been duly executed and delivered by such Shareholder and, assuming it has been duly and validly authorized, executed and delivered by the other parties hereto, constitutes a legal, valid and binding obligation of such Shareholder, enforceable against such Shareholder in accordance with its terms, except to the extent that enforceability may be limited by (i) applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance or other similar laws now or hereafter in effect relating to creditors’ rights generally, and (ii) general principles of equity.
SECTION 5.2    Ownership of Subject Shares.  As of the date hereof, such Shareholder does not own, beneficially or of record, any shares of Montage Voting Common Stock or any other securities of Montage other than such Shareholder’s Owned Shares listed opposite such Shareholder’s name on Schedule A attached hereto.  As of the date hereof, except as set forth on Schedule A attached hereto, such Shareholder is the sole record and/or a beneficial owner of all of such Shareholder’s Owned Shares, free and clear of all Liens, including any restriction on the right to vote or otherwise transfer such Owned Shares, except as provided under this Agreement, including, without limitation, pledges contemplated by the terms of this Agreement, or pursuant to any applicable restrictions on transfer under the Securities Act.
SECTION 5.3    Power to Vote Shares.  Such Shareholder has sole voting power, sole power to issue instructions with respect to the matters set forth in this Agreement, and sole power to agree to all of the matters set forth in this Agreement, in each case with respect to all of such Shareholder’s Subject Shares, with no limitations, qualifications, or restrictions on such rights, subject only to applicable securities laws and the terms of this Agreement.  Any proxies granted by such Shareholder in respect of any or all of its Owned Shares prior to and including the date hereof (except as set forth herein) in respect of the Proxy Matters have been revoked.
SECTION 5.4    No Conflicts.  Except as set forth in the Merger Agreement (including, without limitation, filings as may be required under applicable securities laws) and except for any filing required under Section 13 or Section 16 under the Exchange Act, and except for all necessary filings and submissions required to be made by a Shareholder with any Governmental Entity in connection with the transactions contemplated by the Merger Agreement, (x) no filing with, and no permit, authorization, consent or approval of, any Governmental Entity or any other Person (other than such approvals of such Shareholder’s Affiliates as have been obtained on or prior to the date hereof) is necessary for the execution of this Agreement by such Shareholder and the performance by such Shareholder of its obligations hereunder, and (y) none of the execution and delivery of this Agreement by such Shareholder, or the consummation by such Shareholder of the transactions contemplated by this Agreement or compliance by such Shareholder with any of the provisions of this Agreement shall (i) conflict with or result in any breach of the organizational documents, if applicable, of such Shareholder, (ii) result in, give rise to or constitute a violation or breach of or a default (or any event which with notice or lapse of time or both would become a violation, breach or default) under, or give to others any rights of termination, amendment, acceleration or cancellation 

7

of, or result in the creation of a Lien on any of the Subject Shares pursuant to, any of the terms, conditions or provisions of any note, bond, mortgage, indenture, contract, lease, license, permit, agreement, commitment, arrangement, understanding,  or other obligation of any kind to which such Shareholder is a party or by which such Shareholder or any of its Subject Shares are bound, or (iii) violate any applicable law, rule, regulation, order, judgment, or decree applicable to such Shareholder, except for in each case under clauses (i) and (ii) as would not impair such Shareholder’s ability to perform its obligations under this Agreement.
SECTION 5.5    Transaction Fee.  Except as otherwise disclosed by such Shareholder to Marigold in writing prior to the date of this Agreement, such Shareholder and its Affiliates have not employed any investment banker, broker or finder in connection with the transactions contemplated by the Merger Agreement who might be entitled to any fee or any commission in connection with or upon consummation of the Merger or the transactions contemplated by this Agreement.
SECTION 5.6    Acknowledgement.  Such Shareholder understands and acknowledges that Marigold is entering into the Merger Agreement in reliance upon such Shareholder’s execution, delivery and performance of this Agreement.
ARTICLE VI     
REPRESENTATIONS AND WARRANTIES OF MARIGOLD
Marigold hereby represents and warrants to the Shareholders as follows:  
SECTION 6.1    Authorization.  Marigold has all necessary legal capacity, corporate power and authority to execute and deliver this Agreement and to perform its obligations hereunder.  This Agreement has been duly authorized, executed and delivered by Marigold and, assuming it has been duly and validly executed and delivered by the other parties hereto, constitutes a legal, valid and binding obligation of Marigold, enforceable against Marigold in accordance with the terms of this Agreement, except to the extent that enforceability may be limited by (i) applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance or other similar laws now or hereafter in effect relating to creditors’ rights generally, and (ii) general principles of equity.
SECTION 6.2    No Conflicts.  Except as set forth in the Merger Agreement (including, without limitation, filings as may be required under applicable securities laws), (x) no filing with, and no permit, authorization, consent or approval of, any Governmental Entity or any other Person is necessary for the execution of this Agreement by Marigold and the performance by Marigold of its obligations hereunder, and (y) none of the execution and delivery of this Agreement by Marigold, or the consummation by Marigold of the transactions contemplated by this Agreement or compliance by Marigold with any of the provisions of this Agreement shall (i) conflict with or result in any breach of the organizational documents of Marigold, (ii) conflict with, result in any violation of, require any consent under or constitute a default (whether with notice or lapse of time or both) under any of the terms, conditions or provisions of any note, contract, lease, license, permit, agreement, commitment, arrangement, understanding, mortgage, bond, indenture, or other obligation of any kind to which Marigold is a party or by which Marigold or any of its properties is bound; or (iii) violate any judgment, order, injunction, decree or award of any court, administrative agency or other Governmental Entity that is binding on Marigold or any of its properties, except for in each 

8

case under clauses (i) through (iii) as would not impair the ability of such party to perform its obligations under this Agreement.
ARTICLE VII     
TERMINATION
SECTION 7.1    This Agreement and all obligations of the parties hereunder shall automatically terminate upon the expiration of the Voting Period.  Upon the termination of this Agreement, none of the parties hereto shall have any rights or obligations hereunder and this Agreement shall become null and void and have no effect; provided, however, that Section 8.2 and Sections 8.6 through 8.13 shall survive termination of this Agreement.  Notwithstanding the foregoing, termination of this Agreement shall not relieve any party from any liability, or prevent any party from seeking any remedies (at law or in equity) against any other party, for that party’s breach of any of its representations, warranties, covenants or obligations under this Agreement prior such termination.
ARTICLE VIII     
MISCELLANEOUS
SECTION 8.1    No Agreement as Director or Officer.  Notwithstanding any provision of this Agreement to the contrary, the Shareholders have entered into this Agreement in their capacity as shareholders of Montage, and nothing in this Agreement shall limit, restrict or otherwise affect Soohyung Kim in his capacity as a director of Montage from acting in such capacity or voting in his sole discretion on any matter, including in exercising rights under the Merger Agreement.
SECTION 8.2    Publication.  Each Shareholder hereby consents to and authorizes Montage and/or Marigold to publish and disclose in any and all applicable filings with the SEC, the FCC or any other Governmental Entity, and any other announcements, disclosures or filings required by applicable Law such Shareholder’s identity and ownership of shares of Montage Voting Common Stock and the nature of such Shareholder’s commitments, arrangements and understandings pursuant to this Agreement and/or the Merger Agreement; provided that Montage and Marigold shall give each Shareholder and its legal counsel a reasonable opportunity to review and comment on such publications or disclosures prior to being made public.
SECTION 8.3    Amendments, Waivers, etc.  This Agreement may be amended by an instrument in writing signed on behalf of Montage and each of the Shareholders that would be bound by such amendment.  Any agreement on the part of any party hereto to any waiver of compliance with any representations, warranties, covenants or agreements contained in this Agreement shall be valid only if set forth in a written instrument signed on behalf of such party.  The waiver by any party of a breach of any provision hereunder shall not operate or be construed as a waiver of any prior or subsequent breach of the same or any other provision hereunder.
SECTION 8.4    Enforcement of Agreement; Specific Performance.  The Shareholders acknowledge and agree that Marigold would be irreparably damaged if any of the provisions of this Agreement are not performed in accordance with their specific terms or are otherwise breached and that any non-performance, breach or threatened breach of this Agreement by any Shareholder could not be adequately compensated by monetary damages alone and that Marigold would not have any 

9

adequate remedy at law. Accordingly, Marigold shall be entitled (in addition to any other remedy that may be available to it whether in law or equity, including monetary damages) to seek and obtain (a) enforcement of any provision of this Agreement by a decree or order of specific performance and (b) a temporary, preliminary and/or permanent injunction to prevent breaches or threatened breaches of any provisions of this Agreement without posting any bond or undertaking. The Shareholders further agree that they shall not object to the granting of injunctive or other equitable relief on the basis that there exists adequate remedy at law. Each Shareholder hereby expressly further waives (i) any defense in any action for specific performance that a remedy at law would be adequate or that an award of specific performance is not an appropriate remedy for any reason at law or in equity and (ii) any requirement under any Law to post security as a prerequisite to obtaining equity relief. Each Shareholder agrees that Marigold’s initial choice of remedy will be to seek specific performance of this Agreement in accordance with its terms. If a court of competent jurisdiction denies such relief, Marigold may seek alternative remedies, including damages in the same or another proceeding.
SECTION 8.5    Notices.  All notices and other communications in connection with this Agreement shall be in writing and shall be deemed given (i) on the date of delivery if delivered personally or if sent via facsimile (with confirmation via express courier utilizing next-day service), (ii) on the earlier of confirmed receipt or the third (3rd) Business Day following the date of mailing if mailed by registered or certified mail (return receipt requested) or (iii) on the first (1st) Business Day following the date of dispatch if delivered utilizing next-day service by an express courier (with confirmation) to the parties at the following addresses (or at such other address for a party as shall be specified by like notice):
(a)    If to Marigold, addressed to it at:
Meredith Corporation 
1716 Locust Street 
Des Moines, Iowa 50309-3023 
Attention:  John Zieser 
Facsimile:  (512) 284-3840
with a copy (which shall not constitute notice) to: 
 
Cooley LLP 
1299 Pennsylvania Avenue, NW, Suite 700  
Washington, DC 20004-2400 
Attention:  J. Kevin Mills 
Facsimile:  (202)842-7899
(b)    If to Montage, addressed to it at:
Media General, Inc. 
333 East Franklin Street 
Richmond, Virginia 23293 
Attention:  Andrew C. Carington, Esq. 
Facsimile:  (804) 887-7021

10

with a copy (which shall not constitute notice) to: 
 
Fried, Frank, Harris, Shriver & Jacobson LLP 
One New York Plaza 
New York, New York 10004 
Attention:   Philip Richter, Esq. 
Facsimile:  (212) 859-4000
(c)    If to any Shareholder, addressed to it at the address set forth below such Shareholder’s signature hereto:
with a copy (which shall not constitute notice) to: 
 
c/o Standard General LP 
767 Fifth Avenue, 12th Floor  
Attention:  Joseph Mause 
Facsimile:  (212) 257-4738
or, in each case, to that other address as any party shall specify by written notice so given, and notice shall be deemed to have been delivered as of the date so telecommunicated or personally delivered.
SECTION 8.6    Headings; Titles. When a reference is made in this Agreement to Articles, Sections or Schedules, such reference shall be to an Article or Section of or Schedule to this Agreement unless otherwise indicated. The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement.  Whenever the words “include,” “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation.”  This Agreement shall not be interpreted or construed to require any person to take any action, or fail to take any action, if to do so would violate any applicable Law.
SECTION 8.7    Severability.  Any term or provision of this Agreement which is invalid or unenforceable in any jurisdiction shall, as to that jurisdiction, be ineffective to the extent of this invalidity or unenforceability without rendering invalid or unenforceable the remaining terms and provisions of this Agreement or affecting the validity or enforceability of any of the terms or provisions of this Agreement in any other jurisdiction. Upon determination that any term or other provision is invalid or incapable of being enforced, the parties shall negotiate in good faith to modify this Agreement as to affect the original intent of the parties as closely as possible in an acceptable manner to the end that the transactions contemplated hereby are fulfilled to the extent possible.
SECTION 8.8    Entire Agreement.  This Agreement (together with the Merger Agreement, to the extent referred to in this Agreement, and any documents delivered by the parties in connection herewith), constitutes the entire agreement among the parties with respect to the subject matter of this Agreement, and supersedes all prior agreements and understandings, both written and oral, among the parties, with respect to the subject matter of this Agreement.
SECTION 8.9    Assignment; Binding Effect; No Third Party Beneficiaries; Further Action.  Neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned 

11

by any of the parties; provided that Marigold may assign its rights, interests or obligations hereunder to one or more of its Subsidiaries.  This Agreement shall be binding upon and shall inure to the benefit of Marigold and its respective successors and assigns and shall be binding upon the Shareholders and the Shareholders’ successors, assigns, heirs, executors and administrators.  Notwithstanding anything contained in this Agreement to the contrary, nothing in this Agreement, expressed or implied, is intended to confer on any Person (other than, in the case of Marigold or its respective successors and assigns and, in the case of the Shareholders, the Shareholders’ successors, assigns, heirs, executors and administrators) any rights, remedies, obligations or liabilities under or by reason of this Agreement.  Each of the Shareholders, Montage and Marigold shall take any further action and execute any other instruments as may be reasonably requested by the other parties to this Agreement to effectuate the intent of this Agreement.
SECTION 8.10    Mutual Drafting.  Each party has participated in the drafting of this Agreement, which each party acknowledges is the result of extensive negotiations between the parties. This Agreement shall not be deemed to have been prepared or drafted by any one party or another or any party’s attorneys.
SECTION 8.11    Governing Law and Consent to Jurisdiction.  This Agreement and all claims or causes of action (whether in contract, tort or otherwise) that may be based upon, arise out of or relate to this Agreement or the negotiation, execution or performance of this Agreement (including any claim or cause of action based upon, arising out of or related to any representation or warranty made in or in connection with this Agreement or as an inducement to enter into this Agreement) shall be governed and construed in accordance with the internal Laws of the State of Delaware, without regard to any applicable conflicts of law principles that would result in the application of the Laws of any other jurisdiction.  The parties hereto agree that any suit, action or proceeding seeking to enforce any provision of, or based on any matter arising out of or in connection with, this Agreement or the transactions contemplated hereby shall be brought exclusively in the Chancery Court of the State of Delaware and any state appellate court therefrom or, if such court lacks subject matter jurisdiction, the United States District Court sitting in New Castle County in the State of Delaware, and each of the parties hereby irrevocably consents to the exclusive jurisdiction of such courts (and of the appropriate appellate courts therefrom) in any such suit, action or proceeding and irrevocably waives, to the fullest extent permitted by Law, any objection that it may now or hereafter have to the laying of the venue of any such suit, action or proceeding in any such court or that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum.  Process in any such suit, action or proceeding may be served on any party anywhere in the world, whether within or without the jurisdiction of any such court.  Without limiting the foregoing, each party agrees that service of process on such party as provided in Section 8.5 shall be deemed effective service of process on such party.  EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING (WHETHER IN CONTRACT OR TORT OR OTHERWISE) ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.
SECTION 8.12    Counterparts; Facsimiles.  This Agreement may be executed in two or more counterparts, all of which shall be considered one and the same agreement and shall become 

12

effective when counterparts have been signed by each of the parties and delivered to the other parties, it being understood that each party need not sign the same counterpart.
SECTION 8.13    Liability.  The rights and obligations of each of the Shareholders under this Agreement shall be several and not joint. All references to actions to be taken by the Shareholders, or representations and warranties to be made, under this Agreement refer to actions to be taken or representations and warranties to be made by Shareholders acting severally and not jointly.  Except for any liability for claims, losses, damages, liabilities or other obligations arising out of an Shareholder’s failure to perform its obligations hereunder, Marigold agrees that no Shareholder (in its capacity as a Shareholder of Montage) will be liable for claims, losses, damages, liabilities or other obligations resulting from or relating to the Merger Agreement, including any breach by Montage of the Merger Agreement, and that Montage shall not be liable for claims, losses, damages, liabilities or other obligations resulting from or related to any Shareholder’s failure to perform its obligations hereunder. 
SECTION 8.14    No Ownership Interest. Nothing contained in this Agreement shall be deemed to vest in any other person any direct or indirect ownership or incident of ownership of or with respect to any Subject Shares.  All rights, ownership and economic benefits of and relating to the Subject Shares shall remain vested in and belong to the holder thereof, and no other person shall have any authority to exercise any power or authority to direct any Shareholder in the voting of any of the Subject Shares except as provided in this Agreement.
SECTION 8.15    No Effect on Montage Voting Common Stock.  Notwithstanding anything to the contrary in this Agreement or in Montage’s Amended and Restated Articles of Incorporation, Montage agrees that neither the execution and delivery by the Shareholders of this Agreement nor the performance by the Shareholders of any of the obligations hereunder will have any adverse effect on the Shareholders’ ownership of Montage Voting Common Stock.  Without limiting the foregoing, in no event shall the execution and delivery by the Shareholders of this Agreement or the performance by the Shareholders of any of their obligations hereunder be deemed to constitute a Transfer of any Subject Shares or result in the conversion of any Subject Shares held by the Shareholders into shares of Montage Non-Voting Common Stock.
(Signature pages follow)

13

IN WITNESS WHEREOF, Montage, Marigold and the Shareholders have caused this Agreement to be duly executed as of the day and year first above written.

MEDIA GENERAL, INC. 

By: /s/ Andrew C. Carington__            
Name:     Andrew C. Carington
Title:      Vice President, General Counsel and Secretary 

Signature Page to Voting and Support Agreement (SG)

IN WITNESS WHEREOF, Montage, Marigold and the Shareholders have caused this Agreement to be duly executed as of the day and year first above written. 

MEREDITH CORPORATION

By: /s/ Joseph Ceryance    
      Joseph H. Ceryanec
      Chief Financial Officer

Signature Page to Voting and Support Agreement (SG)

IN WITNESS WHEREOF, Montage, Marigold and the Shareholders have caused this Agreement to be duly executed as of the day and year first above written.

SHAREHOLDERS:

STANDARD GENERAL FUND L.P.

By: /s/ Joseph Mause_    
Name:    Joseph Mause 
Title:     Chief Financial Officer of the Manager

Address: c/o Standard General LP 
767 Fifth Avenue, 12th Floor  
New York, NY 10153

STANDARD GENERAL COMMUNICATIONS, LLC

By:/s/ Joseph Mause_                
Name:     Joseph Mause 
Title:     Chief Financial Officer of the Manager 

Address: c/o Standard General LP 
767 Fifth Avenue, 12th Floor  
New York, NY 10153

Signature Page to Voting and Support Agreement (SG)

Schedule A
Ownership of Montage Voting Common Stock

	
		
	Shareholder
	Shares of Montage Voting Common Stock

	Standard General Fund L.P.
	3,749,526 shares owned of record by Standard General Fund L.P.

15,128,683 shares owned of record by Standard General Communications LLC that are beneficially owned by Standard General Fund L.P.

	Standard General Communications LLC

	15,128,683 shares owned of record by Standard General Communications LLC

Notes:

		
	1.
	Certain of the Subject Shares are held in street name.

		
	2.
	Certain of the Subject Shares are subject to a pledge to secure a margin account.

Schedule A

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