Document:

Exhibit

EXHIBIT 10.1

BANK OF HAWAII CORPORATION 
2014 STOCK AND INCENTIVE PLAN 
 
RESTRICTED STOCK GRANT AGREEMENT (PERFORMANCE BASED) 
(FEBRUARY 23, 2018)
This Restricted Stock Grant Agreement (“Agreement”) dated February 23, 2018 (“Grant Date”), between Bank of Hawaii Corporation, a Delaware corporation (“Company”), with its registered office at 130 Merchant Street, Honolulu, Hawaii 96813, and the executive of the Company or subsidiary of the Company (“Grantee”) who as of the Grant Date is an Eligible Person under the Bank of Hawaii Corporation 2014 Stock and Incentive Plan (“Plan”) and who is specified in the “Notice of 2018 Restricted Stock Grant (Performance Based)” (“Notice”) attached hereto.
1.    Grant of Restricted Shares.  Effective as of the Grant Date, the Human Resources and Compensation Committee of the Company’s Board of Directors (“Committee”) has granted to Grantee the number of shares of Restricted Stock (“Restricted Shares”) as specified in the Notice pursuant to the Plan.  Forty-five percent (45%) of the Restricted Shares are hereby designated as “First Category Shares”, forty-five percent (45%) as “Second Category Shares”, and ten percent (10%) as “Third Category Shares”.
2.    Restrictions During Period of Restriction.  The given category of Restricted Shares shall be subject to forfeiture by Grantee and shall be nontransferable until the “Period of Restriction” terminates as to such Restricted Shares.  The Restricted Shares shall vest in Grantee upon termination of the Period of Restriction (to the extent that the Restricted Shares have not previously been forfeited).  For purposes of this Agreement, the term “Period of Restriction” shall mean the period that commences on the Grant Date and terminates on the date of certification of achievement of service and financial performance objectives by the Committee (“Date of Certification”), as described in Section 2.e below (or which Period of Restriction otherwise terminates as provided in Section 2.d below).  In the event the Committee's certification is completed after the close of the New York Stock Exchange on the actual date of such certification (i.e., the date of the Committee meeting), the Date of Certification shall be deemed to be, and the Period of Restriction shall instead terminate, on the next business day.  
As described below, the Period of Restriction shall terminate based upon the level of achievement of specified financial performance criteria, where the First Category Shares shall be conditioned upon “Return on Equity”, the Second Category Shares shall be conditioned upon “Stock Price to Book Ratio”, and the Third Category Shares shall be conditioned upon “Tier 1 Capital Ratio” (“Financial Performance Criteria”).  In this regard, the Period of Restriction shall terminate with respect to the “Applicable Vesting Percentage” of the First Category Shares and Second Category Shares, as the case may be, based upon the Company’s achievement of the respective Financial Performance Criteria in accordance with the following schedule:

1.
4831-2908-2205.2 
        

	
		
	Return on Equity and Stock Price to Book Ratio

	Financial Performance Criteria-- 
Three Year Average Percentile Rank
	Applicable Vesting 
Percentage

	75th and Above (Maximum)
	100%

	62.5th – 74.9th
	75%

	50th - 62.49th
	50%

	Below 50th
	0%

Further, the Period of Restriction shall terminate with respect to the “Applicable Vesting Percentage” of the Third Category Shares based upon the Company’s achievement of the respective Financial Performance Criteria in accordance with the following schedule:
	
		
	Tier 1 Capital Ratio

	Financial Performance Criteria-- 
Three Year Average Percentile Rank
	Applicable Vesting 
Percentage

	50th and Above (Maximum)
	100%

	Below 50th
	0%

For purposes of this Agreement, the terms “Return on Equity”, “Stock Price to Book Ratio”, and “Tier 1 Capital Ratio” (as defined by the Federal Reserve Bank) shall mean such terms as determined for the banks that comprise the S&P Supercomposite Regional Bank Index (where for the applicable year, Return on Equity shall be measured as of December 31 of such year, Tier 1 Capital Ratio shall be measured as of September 30 of such year, and Stock Price to Book Ratio shall be measured based on stock price as of December 31 and book value as of September 30 of such year).  With respect to the given Financial Performance Criteria, the “Three Year Average Percentile” shall mean the Company’s percentile level on the S&P Supercomposite Regional Bank Index for the average of the numerical measures over the three years 2018, 2019, and 2020.  The Financial Performance Criteria shall be determined based on references to measures and percentiles for the peer group banks that comprise the January 2, 2018, S&P Supercomposite Regional Bank Index (with peer group banks determined by excluding banks with assets >$50B).
a.    Termination of Period of Restriction For First Category Shares
The Period of Restriction shall terminate with respect to the amount equal to the Applicable Vesting Percentage multiplied by the First Category Shares, provided that:  (i) the Committee shall have certified the Three Year Average Percentile level for the Company’s “Return on Equity” that corresponds to such Applicable Vesting Percentage; and (ii) Grantee is an Employee on the Date of Certification.
b.    Termination of Period of Restriction Second Category Shares
The Period of Restriction shall terminate with respect to the amount equal to the Applicable Vesting Percentage multiplied by the Second Category Shares, provided that:  (i) the Committee shall have certified the Three Year Average Percentile level for the Company’s “Stock Price to Book Ratio” that corresponds to such Applicable Vesting Percentage; and (ii) Grantee is an Employee on the Date of Certification.
c.    Termination of Period of Restriction Third Category Shares

2.

The Period of Restriction shall terminate with respect to the amount equal to the Applicable Vesting Percentage multiplied by the Third Category Shares, provided that:  (i) the Committee shall have certified the Three Year Average Percentile level for the Company’s “Tier 1 Capital Ratio” that corresponds to such Applicable Vesting Percentage; and (ii) Grantee is an Employee on the Date of Certification.
d.    Termination of Period of Restriction Upon Certain Terminations of Employment
In addition to the termination of the Period of Restriction based on the achievement of the service and financial performance objectives as described in Sections 2.a-2.c above, the Period of Restriction shall terminate in connection with certain terminations of Grantee’s employment with the Company and its subsidiaries as described in this Section 2.d.  Specifically, the Period of Restriction for all of the Restricted Shares shall terminate (to the extent that the Period of Restriction has not previously terminated or the Restricted Shares have not previously been forfeited) upon the occurrence of any of the following: (i) the death of Grantee; (ii) the Grantee ceasing to be an Employee due to “disability” within the meaning of that term under Section 409A of the Internal Revenue Code of 1986, as amended (“Code”) and the regulations promulgated thereunder; or (iii) upon or after the occurrence of a “Change in Control” (within the meaning of Section 2.5 of the Bank of Hawaii Corporation Change-in-Control Retention Plan, restatement effective December 17, 2009 (“Change-in-Control Plan”)) either (A) Grantee’s employment with the Company and its subsidiaries is terminated by the Company without “Cause” (within the meaning of Section 2.4 of the Change-in-Control Plan) or (B) Grantee terminates employment with the Company and its subsidiaries for “Good Reason” (within the meaning of Section 2.15 of the Change-In-Control Plan).
e.    Committee Determinations.  The Committee shall certify whether the Financial Performance Criteria for the First Category Shares, Second Category Shares, and Third Category Shares have been achieved as soon as administratively practicable following the completion of the three year performance period ending December 31, 2020.  To the extent that the satisfaction of the Financial Performance Criteria is certified, the Restricted Shares subject to vesting shall vest on the Date of Certification (i.e., the Period of Restriction shall be terminated on the Date of Certification).
3.    Forfeiture of Unvested Restricted Shares.  Restricted Shares as to which the Period of Restriction has not terminated shall be forfeited and transferred to the Company upon the first to occur of: (a) Grantee’s ceasing to be an Employee for any reason, whether voluntary or involuntary (other than for a termination of employment described in Section 2.d), and (b) the date the Committee determines the Financial Performance Criteria were not met (to the extent that the Restricted Shares do not become vested based on the Applicable Vesting Percentages).  However, as described in Section 2 above with respect to the termination of the Period of Restriction on the Date of Certification, the Applicable Vesting Percentage of the given category of Restricted Shares shall not be forfeited, to the extent that:  (a) with respect to such Applicable Vesting Percentage of such category of Restricted Shares, the Committee has certified that the corresponding Three Year Average Percentile level for such Applicable Vesting Percentage has been achieved; and (b) the Grantee is an Employee on the Date of Certification.  Grantee’s employment shall not be treated 

3.

as terminated in the case of a transfer of employment within the Company and its subsidiaries or in the case of sick leave and other approved leaves of absence.
4.    Issuance of Shares; Registration; Withholding Taxes.  Restricted Shares shall be issued in Grantee’s name, shall bear the restrictive legends as are required or deemed advisable by the Company under the provisions of any applicable law, and shall be held by the Company until all restrictions lapse or such shares are forfeited as provided herein.  The Company may postpone the issuance or delivery of the Shares until (a) the completion of registration or other qualification of such Shares or transaction under any state or federal law, rule or regulation, or any listing on any securities exchange, as the Company shall determine to be necessary or desirable; (b) the receipt by the Company of such written representations or other documentation as the Company deems necessary to establish compliance with all applicable laws, rules and regulations, including applicable federal and state securities laws and listing requirements, if any; and (c) the payment to the Company of any amount required by the Company to satisfy any federal, state or other governmental withholding tax requirements related to the issuance or delivery of the Shares.  Grantee shall comply with any and all legal requirements relating to Grantee’s resale or other disposition of any Shares acquired under this Agreement.
5.    Share Adjustments.  The number and kind of Restricted Shares or other property subject to this Agreement shall be subject to adjustment in accordance with Section 13 of the Plan.
6.    Rights as Shareholder.  Unless otherwise provided herein, Grantee shall be entitled to all of the rights of a shareholder with respect to the Restricted Shares, including the right to vote such Shares and to receive dividends and other distributions (not including share adjustments as described in Section 5 above) payable with respect to such Shares from and after the Grant Date.  Grantee’s rights as a shareholder shall terminate with respect to any Restricted Shares forfeited by Grantee.
7.    Employment Rights.  Neither the Plan nor the granting of the Restricted Shares shall be a contract of employment of Grantee by the Company or any of its subsidiaries.  Grantee may be discharged from employment at any time by the employing Company or subsidiary, subject to any employment contract that may otherwise apply to Grantee.
8.    Amendment.  This Agreement may be amended by the Committee at any time based on its determination that the amendment is necessary or advisable in light of any addition to, or change in, the Code or regulations issued thereunder or any federal or state securities law or other law or regulation, or the Plan, or based on any discretionary authority of the Committee under the Plan.  Unless necessary or advisable due to a change in law, any amendment to this Agreement which has a material adverse effect on the interest of Grantee under this Agreement shall be adopted only with the consent of Grantee.
9.    Section 83(b) Election.  Grantee shall promptly deliver to the Company a copy of any election filed by Grantee in respect of the Restricted Shares pursuant to Code Section 83(b).
10.    Notices.  Any notice or other communication made in connection with this Agreement shall be deemed duly given when delivered in person or mailed by certified or registered mail, return receipt requested, to Grantee at Grantee’s address shown on Company records or such 

4.

other address designated by Grantee by similar notice, or to the Company at its then principal office, to the attention of the Corporate Secretary of the Company.  Furthermore, such notice or other communication shall be deemed duly given when transmitted electronically to Grantee at Grantee’s electronic mail address shown on the Company records or, to the extent that Grantee is an active employee, through the Company’s intranet.
11.    Plan Governs.  The Restricted Shares evidenced by this Agreement are subject to the terms and conditions of the Plan and of this Agreement.  In case of conflict between the provisions of the Plan and the provisions of this Agreement, the provisions of the Plan shall control.  Capitalized terms used in this Agreement and not defined herein shall have the meaning assigned in the Plan unless the context indicates otherwise.
12.    Miscellaneous.  This Agreement shall bind and benefit Grantee, the heirs, distributees and personal representative of Grantee, and the Company and its successors and assigns.  This Agreement may be signed in counterparts, each of which shall be deemed an original, and said counterparts shall together constitute one and the same instrument.  Capitalized terms not herein defined shall have the meanings prescribed to them under the Plan.
BY ACCEPTING THE RESTRICTED SHARES GRANTED UNDER THIS RESTRICTED STOCK GRANT AGREEMENT, GRANTEE AGREES TO ALL THE TERMS AND CONDITIONS DESCRIBED IN THIS AGREEMENT AND IN THE PLAN.
IN WITNESS WHEREOF, the Company has caused this Agreement to be signed on its behalf by the undersigned, thereunto duly authorized, effective as of the Date of Grant.
	
		
	 
	BANK OF HAWAII CORPORATION 
 
 
 
By ____________________________________ 
      MARK A. ROSSI 
      Its Vice Chairman 
   “Company”

	 
	Agreed and Accepted: 
 
 
 
_______________________________________ 
 
   “Grantee”

5.Exh 10.1

		

			Exhibit 10.1 

		

		

			Execution Version

		

		
			INCREMENTAL AMENDMENT NO. 3
TO AMENDED AND RESTATED CREDIT AGREEMENT
		

		
			INCREMENTAL AMENDMENT NO. 3 TO AMENDED AND RESTATED CREDIT AGREEMENT,  dated as of February 26, 2018 (this “Amendment”), is entered into by and among Zayo Group, LLC, a Delaware limited liability company (“Zayo Group”), Zayo Capital, Inc., a Delaware corporation (“Zayo Capital”; and together with Zayo Group, the “Borrowers”), Morgan Stanley Senior Funding, Inc. (“MSSF”), as term facility administrative agent (the “Term Facility Administrative Agent”), SunTrust Bank, as revolving facility administrative agent (the “Revolving Facility Administrative Agent” and, together with the Term Facility Administrative Agent, the “Administrative Agents”) and the 2018 Incremental Term Facility Lenders (as hereinafter defined) party hereto.
		

		
			PRELIMINARY STATEMENTS:
		

		
			WHEREAS, the Borrowers, the guarantors from time to time party thereto, the lenders from time to time party thereto and the Administrative Agents entered into that certain Amended and Restated Credit Agreement, originally dated as of July 2, 2012, and amended and restated as of May 6, 2015 (and as further amended by that certain Incremental Amendment to Amended and Restated Credit Agreement, dated as of January 15, 2016, that certain Repricing Amendment to Amended and Restated Credit Agreement, dated as of July 22, 2016, that certain Incremental Amendment No. 2 to Amended and Restated Credit Agreement, dated as of January 19, 2017, that certain Repricing Amendment No. 2 to Amended and Restated Credit Agreement, dated as of July 20, 2017, and that certain Repricing Amendment No. 3 to Amended and Restated Credit Agreement, dated as of December 22, 2017 and as otherwise amended prior to the date hereof, the “Credit Agreement”);
		

		
			WHEREAS, the Borrowers have requested that certain financial institutions signatory hereto (in such capacity, the “2018 Incremental Term Facility Lenders”) collectively provide Commitments (the “2018 Incremental Term Loan Commitments”) hereunder, and make Incremental Term Loans pursuant hereto, in an aggregate principal amount equal to $150,000,000 (the “Aggregate Incremental Term Loan Commitment”) on the Effective Date,  the proceeds of which will be used for the general corporate purposes of the Borrowers, including to finance consideration of acquisitions permitted under the Credit Agreement and to pay costs and expenses related to such acquisitions and this Amendment,  and each 2018 Incremental Term Facility Lender is prepared to make a portion of such Aggregate Incremental Term Loan Commitment, and to provide a portion of the 2018 Incremental Term Loans pursuant thereto, in the respective amounts set forth on Schedule 1 hereto, in each case subject to the other terms and conditions set forth herein;
		

		
			WHEREAS, each of JPMorgan Chase Bank, N.A. (“JPMCB”),  Barclays Bank PLC (“Barclays”), Goldman Sachs Lending Partners LLC (“GS”), RBC Capital Markets1 (“RBCCM”)  MSSF, SunTrust Robinson Humphrey, Inc. (“STRH”) and Citigroup Global Markets Inc. (“Citi”) 
		

		

		
			1 RBC Capital Markets is a marketing name for the capital markets activities of Royal Bank of Canada and its affiliates.
		

		
			

		 

 

		

			

		

		

		
			and, collectively with JPMCB,  Barclays, GS,  RBCCM, MSSF and STRH, the “Arrangers”), have agreed to act as joint lead arrangers for the 2018 Incremental Term Loans (as defined in the Credit Agreement after giving effect to this Amendment); and
		

		
			WHEREAS, the Borrowers, the 2018 Incremental Term Facility Lenders and the Administrative Agents are entering into this Amendment in order to evidence such 2018 Incremental Term Loan Commitments and such 2018 Incremental Term Loans, in accordance with Section 2.17 of the Credit Agreement.
		

		
			NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration (the receipt and sufficiency of which are hereby acknowledged), the parties hereto hereby agree as follows:
		

			
	
			
				 SECTION 1.
			Amendments to Credit Agreement.

		
			 The Credit Agreement is, effective as of the date hereof and subject to the satisfaction of the conditions precedent set forth in Section 4, hereby amended as follows:
		

			
	
			
				 (a)
			Schedule 1.01(a) of the Credit Agreement is hereby amended by adding Schedule 1 hereto immediately at the end thereof.

			
	
			
				 (b)
			Section 1.1 of the Credit Agreement shall be amended by adding the following new definitions thereto in proper alphabetical order:

		
			“2018 Incremental Amendment” means that certain Incremental Amendment No. 3 to Amended and Restated Credit Agreement, dated as of February 26, 2018 among the Borrowers, the Administrative Agents and the 2018 Incremental Term Facility Lenders party thereto.
		

		
			“2018 Incremental Amendment Effective Date” means the first date on which all of the conditions contained in Section 4 of the 2018 Incremental Amendment have been satisfied (or waived) and the funding of the 2018 Incremental Term Loans occurs.
		

		
			“2018 Incremental Term Facility Lenders” shall mean each Lender with a 2018 Term Loan Commitment or that holds 2018 Incremental Term Loans.
		

		
			“2018 Incremental Term Loan Commitment” shall mean the several obligations of the 2018 Incremental Term Facility Lenders to advance the aggregate amount of up to $150,000,000 to the Borrowers, pursuant to the terms of this Agreement and the 2018 Incremental Amendment.  
		

		
			“2018 Incremental Term Facility” shall mean the 2018 Incremental Term Loan Commitments and the provisions relating to the 2018 Incremental Term Loans herein.
		

		
			“2018 Incremental Term Loans”  shall mean, collectively, the term loans in an aggregate principal amount of up to $150,000,000 advanced by the 2018 Incremental Term Facility Lenders to the Borrowers under the 2018 Incremental 

		 

		

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Term Loan Commitment on the 2018 Incremental Amendment Effective Date.
		

			
	
			
				 (c)
			Section 1.1 of the Credit Agreement is hereby amended by amending and restating clause (e) of the definition of “Applicable Margin”, as follows:

		
			(e) in respect of the 2017 Incremental Refinancing B-2 Term Facility, the 2017 Incremental Acquisition Term Facility and the 2018 Incremental Term Facility (i) 1.25% per annum for Base Rate Loans and (ii) 2.25% per annum for Eurodollar Loans.”
		

			
	
			
				 (d)
			Section 1.1 of the Credit Agreement is hereby amended by amending and restating clause (iv)(x) of the definition of “Base Rate” in its entirety as follows:

		
			“(iv) (x) solely in the case of any 2017 Incremental Refinancing B-2 Term Loan, 2017 Incremental Acquisition Term Loan or 2018 Incremental Term Loan, 2.00%, or”
		

			
	
			
				 (e)
			Section 1.1 of the Credit Agreement is hereby amended by amending and restating clause (a)(x) of the definition of “Eurodollar Rate” in its entirety as follows:

		
			“(a) (x) solely in the case of any 2017 Incremental Refinancing B-2 Term Loan,  2017 Incremental Acquisition Term Loan or 2018 Incremental Term Loan, 1.00%, or”
		

			
	
			
				 (f)
			Section 1.1 of the Credit Agreement is hereby amended by amending and restating clause (c) of the definition of “Maturity Date” in its entirety as follows:

		
			“  (c) in the case of the 2017 Incremental Refinancing B-2 Term Facility, the 2017 Incremental Acquisition Term Facility and the 2018 Incremental Term Facility, the date that is seven (7) years after the 2017 Incremental Amendment Effective Date”
		

			
	
			
				 (g)
			Section 2.1(a) of the Credit Agreement is hereby amended by adding the following two new paragraphs immediately at the end thereof:

		
			“Subject to the terms and conditions of, and in reliance upon the representations and warranties made in the 2018 Incremental Amendment and this Agreement, each 2018 Incremental Term Facility Lender severally (and not jointly) agrees to make a single 2018 Incremental Term Loan in a principal amount equal to such 2018 Incremental Term Facility Lender’s 2018 Incremental Term Loan Commitment on the 2018 Incremental Amendment Effective Date.  Amounts borrowed under this paragraph and repaid or prepaid may not be reborrowed.
		

		
			 
		

		
			On and after the 2018 Incremental Amendment Effective Date, the 2017 Incremental Refinancing B-2 Term Loans, the 2017 Incremental Acquisition Term Loans and the 2018 Incremental Term Loans shall be one class of Term Loans for all purposes under the Credit Agreement and the other Loan Documents.”
		

		
			 
		

		
			

		 

		

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				 (h)
			Section 2.12 of the Credit Agreement is hereby amended by adding the following at the immediate end thereof:

		
			“On and after the 2018 Incremental Amendment Effective Date, the proceeds of the 2018 Incremental Term Loans shall be used by the Borrowers (i) to fund future acquisition permitted hereunder, (ii) for the Borrowers’ and their Subsidiaries’ general corporate purposes and (iii) to pay the fees and expenses incurred in connection with such future acquisitions and the 2018 Incremental Amendment.” 
		

			
	
			
				 (i)
			Section 2.17(b)(i) of the Credit Agreement is hereby amended by deleting the parenthetical immediately at the end of the first sentence thereof and replacing it with the following: 

		
			“(it being understood and agreed that the 2017 Incremental Term Loans and the 2018 Incremental Term Loans were made pursuant to clause (B))”
		

			
	
			
				 (j)
			Section 2.17(b)(i) of the Credit Agreement is hereby amended by amending and restating the fourth sentence thereof in its entirety as follows:

		
			“Incremental Loans (w) shall rank pari passu in right of payment and of security with the 2017 Incremental Term Loans, the 2018 Incremental Term Loans and the existing Revolving Loan Commitments (though such Incremental Loans may be secured by less than all of the Collateral), (x) shall not mature earlier than the Maturity Date with respect to the 2017 Incremental Refinancing B-2 Term Loans, the 2017 Incremental Acquisition Term Loans or the 2018 Incremental Term Loans or, solely in the case of any Incremental Loans the proceeds of which will be applied to refinance any 2017 Incremental Refinancing B-1 Term Loans, the Maturity Date with respect to the 2017 Incremental Refinancing B-1 Term Loans, (y) shall be treated substantially the same as the 2017 Incremental Term Loans, the 2018 Incremental Term Loans and the existing Revolving Loan Commitments, as applicable, (including, without limitation, with respect to mandatory and voluntary prepayments) and (z) shall have interest rates and amortization schedules as determined by the Borrowers and the lenders thereof; provided further that, (1) as of the date of the incurrence of any Incremental Term Loan, the Weighted Average Life to Maturity of such Incremental Term Loan shall not be shorter than that of the 2017 Incremental Refinancing B-2 Term Loans, the 2018 Incremental Term Loans or the 2017 Incremental Acquisition Term Loans; (2) until the date that is 18 months after the 2017 Incremental Amendment Effective Date, in the event that the All-In Yield applicable to such Incremental Term Loans exceeds the All-In Yield of the 2017 Incremental Refinancing B-1 Term Loans by more than 100 basis points, the interest rate margins for the 2017 Incremental Refinancing B-1 Term Loans shall be increased to the extent necessary so that the All-In Yield of the 2017 Incremental Refinancing B-1 Term Loans is equal to the All-In Yield of the applicable Incremental Term Loans minus 100 basis points; and (3) in the event that the All-In Yield applicable to such Incremental Term Loans exceeds the All-In Yield of the 2017 Incremental Refinancing B-2 Term Loans, the 

		 

		

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2017 Incremental Acquisition Term Loans or the 2018 Incremental Term Loans by more than 50 basis points, the interest rate margins for the 2017 Incremental Refinancing B-2 Term Loans, the 2017 Incremental Acquisition Term Loans or the 2018 Incremental Term Loans, as applicable, shall be increased to the extent necessary so that the All-In Yield of the 2017 Incremental Refinancing B-2 Term Loans, the 2017 Incremental Acquisition Term Loans or the 2018 Incremental Term Loans, as applicable, is equal to the All-In Yield of the applicable Incremental Term Loans minus 50 basis points.”
		

			
	
			
				 SECTION 2.
			The 2018 Incremental Term Loans.  Pursuant to Section 2.17 of the Credit Agreement, and subject to the satisfaction of the conditions set forth in Section 4 hereof, on and as of the Effective Date:

		
			(a)Each 2018 Incremental Term Facility Lender party hereto hereby agrees that upon, and subject to, the occurrence of the Effective Date, (i) such 2018 Incremental Term Facility Lender shall have, as contemplated by Section 2.17 of the Credit Agreement, a 2018 Incremental Term Loan Commitment in an amount equal to the amount set forth opposite such 2018 Incremental Term Facility Lender’s name under the heading “2018 Incremental Term Loan Commitment” on Schedule 1 to this Amendment and (ii) such 2018 Incremental Term Facility Lender shall be deemed to be, and shall become an “Additional Lender” and a “Lender” for all purposes of, and subject to all the obligations of an “Additional Lender” and a “Lender” under the Credit Agreement and the other Loan Documents.  Each Borrower and each Administrative Agent hereby agrees that from and after the Effective Date, each 2018 Incremental Term Facility Lender shall be deemed to be, and shall become, an “Additional Lender” and a “Lender” for all purposes of, and with all the rights and remedies of an “Additional Lender” and a “Lender” under, the Credit Agreement and the other Loan Documents.  From and after the Effective Date, each reference in the Credit Agreement to any 2018 Incremental Term Facility Lender’s 2018 Incremental Term Loan Commitment shall mean its 2018 Incremental Term Loan Commitment as acquired pursuant to this Amendment, and as set forth opposite its name on Schedule 1 to this Amendment under the heading “2018 Incremental Term Loan Commitment”.
		

		
			(b)Each 2018 Incremental Term Facility Lender hereby agrees to make Incremental Term Loans to the applicable Borrower on the Effective Date in a principal amount not to exceed its respective Term Loan Commitment (as determined after giving effect to this Amendment).
		

		
			 
		

			
	
			
				 SECTION 3.
			Reference to and Effect on the Loan Documents.

			
	
			
				 (a)
			 On and after the Effective Date, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof” or words of like import referring to the Credit Agreement, and each reference in the other Loan Documents to “the Credit Agreement”, “thereunder”, “thereof” or words of like import referring to the “Credit Agreement”, shall mean and be a reference to the Credit Agreement, as amended by this Amendment.

			
	
			
				 (b)
			The Credit Agreement, as specifically amended by this Amendment, and the other Loan Documents are, and shall continue to be, in full force and effect, and are hereby in all respects ratified and confirmed.

		
			

		 

		

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				 (c)
			Except as expressly provided herein, the execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of any Lender or the Administrative Agents under the Credit Agreement or any other Loan Document, nor shall it constitute a waiver of any provision of the Credit Agreement or any other Loan Document.

			
	
			
				 (d)
			Each Borrower, for itself and on behalf of each of the Borrower Parties, hereby (i) ratifies and reaffirms all of its payment and performance obligations, contingent or otherwise, under each of the Loan Documents to which it is a party, (ii) ratifies and reaffirms each grant of a lien on, or security interest in, its property made pursuant to the Loan Documents (including, without limitation, the grant of security made by such Borrower Party pursuant to the Collateral Agreement) and confirms that such liens and security interests continue to secure the Secured Obligations, including under the Loan Documents, including, without limitation, all Secured Obligations resulting from or incurred pursuant to the 2017 Incremental Term Loan Commitments made pursuant hereto, in each case subject to the terms thereof, and (iii) in the case of each Guarantor, ratifies and reaffirms its guaranty of the Obligations pursuant to its respective Guaranty.

			
	
			
				 (e)
			This Amendment shall be deemed a Loan Document for all purposes under the Credit Agreement.

			
	
			
				 SECTION 4.
			Conditions of Effectiveness and Funding of 2018 Incremental Term Loans.  This Amendment shall become effective and the 2018 Incremental Term Facility Lenders shall be obligated to make the 2018 Incremental Term Loans on the date (such date, the “Effective Date”) on which the following conditions shall have been satisfied (or waived):

		
			 
		

			
	
			
				 (a)
			The Administrative Agents shall have received counterparts of this Amendment executed by the Borrowers and the 2018 Incremental Term Facility Lenders.

			
	
			
				 (b)
			The Term Facility Administrative Agent shall have received a duly completed and executed Request for Loan in respect of the 2018 Incremental Term Loans.

			
	
			
				 (c)
			After giving effect to this Amendment and the transactions contemplated hereby, the representations and warranties set forth in Article 5 of the Credit Agreement (as amended by this Amendment) are true and correct in all material respects (unless any such representations or warranties are qualified as to materiality, in which case such representations or warranties are true and correct in all respects) as of the Effective Date, with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date (in which case such representations and warranties shall be true and correct in all material respects (unless any such representations or warranties are qualified as to materiality, in which case such representations or warranties are true and correct in all respects) as of such earlier date) and immediately prior to and after giving effect to the Effective Date, no Default or Event of Default shall have occurred and be continuing;

			
	
			
				 (d)
			The Administrative Agents shall have received, with respect to each Borrower, a loan certificate signed by the secretary or assistant secretary of such Borrower, certifying a true, complete and correct copy of the resolutions of such Borrower (or its general 

		 

		

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	partner, members or manager, as applicable) authorizing the execution, delivery and performance by such Borrower of this Amendment.

			
	
			
				 (e)
			The Administrative Agents shall have received a certificate of the secretary or an assistant secretary of the Administrative Borrower confirming compliance with the conditions precedent set forth in clause (c) of this Section 4.

			
	
			
				 (f)
			The Borrowers shall have paid all reasonable and documented costs and expenses of the Administrative Agents in connection with this Amendment (including the reasonable and documented fees, disbursements and other charges of Shearman & Sterling LLP as counsel to the Administrative Agents).

			
	
			
				 (g)
			The conditions set forth in Section 2.17(b) of the Credit Agreement shall have been satisfied or waived with respect to the 2018 Incremental Term Loans.

			
	
			
				 (h)
			The Borrowers and each of the Guarantors shall have provided, at least three Business Days prior to the Effective Date, the documentation and other information to the 2018 Incremental Term Facility Lenders that are required by regulatory authorities under applicable “know-your-customer” rules and regulations, including the Patriot Act, in each case requested at least five Business Days prior to the Effective Date.

			
	
			
				 (i)
			The Administrative Agents shall have received a legal opinion, dated as of the Effective Date, of Gibson, Dunn & Crutcher LLP, counsel to the Loan Parties, addressed to the Administrative Agents and the 2018 Incremental Term Facility Lenders and reasonably satisfactory to the Administrative Agents.

			
	
			
				 SECTION 5.
			Representations and Warranties

		
			.  Each of the Borrowers hereby represents and warrants to the Administrative Agents that:
		

		
			(a)on and as of the date hereof (i) it has all requisite corporate or other power and authority to enter into and perform its obligations under this Amendment, the Credit Agreement as amended hereby and the other Loan Documents to which it is a party, and (ii) this Amendment has been duly authorized, executed and delivered by it; and
		

		
			(b)this Amendment, and the Credit Agreement as amended hereby, constitute legal, valid and binding obligations of such party, enforceable against it in accordance with their respective terms, subject only to any limitation under Laws relating to (i) bankruptcy, insolvency, reorganization, moratorium or creditors’ rights generally; and (ii) general equitable principles including the discretion that a court may exercise in the granting of equitable remedies.
		

			
	
			
				 SECTION 6.
			Costs and Expenses.  The Borrowers agree that all reasonable out-of-pocket expenses incurred by the Administrative Agents in connection with the preparation, execution, delivery and administration, modification and amendment of this Amendment and the other instruments and documents to be delivered hereunder or in connection herewith (including, without limitation, the reasonable fees, charges and disbursements of counsel for the Administrative Agents), are expenses that the Borrowers are required to pay or reimburse pursuant to Section 11.2 of the Credit Agreement.

		
			 
		

		
			

		 

		

			7

		

 

		

			

		

		

			
	
			
				 SECTION 7.
			Execution in Counterparts.  This Amendment may be executed in one or more counterparts (and by different parties hereto in different counterparts), each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  Delivery by telecopier or other electronic transmission of an executed counterpart of a signature page to this Amendment, including by email with a pdf copy hereof attached, shall be effective as delivery of an original executed counterpart of this Amendment.

		
			 
		

			
	
			
				 SECTION 8.
			GOVERNING LAW.  THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

		
			 
		

			
	
			
				 SECTION 9.
			WAIVER OF RIGHT OF TRIAL BY JURY

		
			.  EACH PARTY TO THIS AMENDMENT HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION ARISING UNDER this amendment, OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO the credit agreement as amended hereby, OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER FOUNDED IN CONTRACT OR TORT OR OTHERWISE; AND EACH PARTY HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY, AND THAT ANY PARTY TO THIS AMENDMENT MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION 9 WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE SIGNATORIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY.
		

		
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			8

		

 

		

			 

		

		

		
			IN WITNESS WHEREOF, the parties have caused this Incremental Amendment No. 3 to Amended and Restated Credit Agreement to be executed by their respective authorized officers as of the date first above written.
		

		
			 
		

		
			ZAYOGROUP, LLC,
		

		
			as a Borrower
		

		
			 
		

		
			By:_/s/ Wendy Cassity _________________
Name:  Wendy Cassity 
Title:    Secretary 
		

		
			 
		

		
			 
		

		
			ZAYO CAPITAL, INC.,
		

		
			as a Borrower
		

		
			 
		

		
			By:_/s/ Wendy Cassity _________________
Name:  Wendy Cassity 
Title:    Secretary 
		

		
			 
		

		
			 
		

		
			

		 

		

			Signature Page to

		

		

			Incremental Amendment No. 3 to Amended and Restated Credit Agreement

		

 

		

			 

		

		

		
			Morgan Stanley Senior Funding, Inc.,
as Term Facility Administrative Agent
		

		
			

		

		
			By:_/s/ Reagan Philipp_________________
Name:  Reagan Philipp
Title:    Authorized Signatory
		

		
			

		 

		

			Signature Page to

		

		

			Incremental Amendment No. 3 to Amended and Restated Credit Agreement

		

 

		

			 

		

		

		
			SUNTRUST BANK,
		

		
			as Revolving Facility Administrative Agent
		

		
			

		

		
			By:_/s/ Samantha Sanford____________
Name: Samantha Sanford
Title:   Vice President
		

		
			

		 

		

			Signature Page to

		

		

			Incremental Amendment No. 3 to Amended and Restated Credit Agreement

		

 

		

			 

		

		

		
			JPMorgan Chase Bank, N.A.,
as a 2018 Incremental Term Facility Lender
		

		
			

		

		
			By:_/s/ Nicolas Gitron-Beer_______
Name:  Nicolas Gitron-Beer
Title:    Executive Director
		

		
			    
		

		
			

		 

		

			Signature Page to

		

		

			Incremental Amendment No. 3 to Amended and Restated Credit Agreement

		

 

		

			 

		

		

		
			Schedule 1
2018 Incremental Term Commitments and 2018 Incremental Term Facility Lenders
		

			
					
						2018 Incremental Term Facility Lender

					
					
						2018 Incremental Term Loan Commitment

					
					
						Commitment Percentage

				
	
					
						JPMorgan Chase Bank, N.A.

					
					
						$150,000,000

					
					
						100%

				
	
					
						Total:

					
					
						$150,000,000

					
					
						100%

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00279-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00279-of-00352.parquet"}]]