Document:

Exhibit

EIGHTH OMNIBUS AMENDMENT
TO
SECURED NOTES
AND
AMENDED AND RESTATED AGREEMENT RE: SECURED NOTES

THIS EIGHTH OMNIBUS AMENDMENT TO SECURED NOTES AND AMENDED AND RESTATED AGREEMENT RE: SECURED NOTES (this “Agreement”) is made and entered into as of September 26, 2019, among HC2 Station Group, Inc., a Delaware corporation, and HC2 LPTV Holdings, Inc., a Delaware corporation (each a “Subsidiary Borrower” and, together, the “Subsidiary Borrowers”), HC2 Broadcasting Holdings Inc., a Delaware corporation (the “Parent Borrower” and, together with the Subsidiary Borrowers, the “Borrowers”), Great American Life Insurance Company, an Ohio corporation (“GALIC”) and Great American Insurance Company, an Ohio corporation (“GAIC” and, together with GALIC, the “Initial Lenders”), Minority Brands, Inc., an Ohio Corporation (“MBI”), and Arena Limited SPV, LLC, a Delaware limited liability company (the “First-Out Lender” and, together with MBI and any other lender under any Additional Secured Note (as defined below) that becomes party to this Agreement pursuant to Section 2(a)(ii), the “Additional Lenders” and, together with the Initial Lenders, each a “Lender” and, collectively, the “Lenders” and, together with the Borrowers, each a “Party” and collectively, the “Parties”).
W I T N E S S E T H:

WHEREAS, the Borrowers have entered into the Secured Notes (as defined on Schedule I hereto) with the applicable Lender or Lenders; 
WHEREAS, the Subsidiary Borrowers and the Initial Lenders previously entered into the Agreement Re: Secured Notes, dated as of January 22, 2019 (the “Original Agreement Re: Secured Notes”), which, among other things, amended certain terms of the $35,000,000 Secured Note (as defined on Schedule I hereto), provided for the issuance of Additional Secured Notes and contained certain provisions related to the administration or disposition of the Collateral; 
WHEREAS, the Borrowers and certain of the Lenders previously entered into the Omnibus Amendment to Secured Notes, dated as of May 3, 2019 (the “Original Omnibus Amendment”), to add additional Collateral to secure the Secured Notes, to add the Parent Borrower as an additional “Borrower” under the Secured Notes then outstanding, and to make certain other amendments thereto;
WHEREAS, the Borrowers and the Lenders previously entered into the Second Omnibus Amendment to Secured Notes and Amended and Restated Agreement Re: Secured Notes, dated as of May 31, 2019 (the “Second Agreement Re: Secured Notes”), which, among other things, amended certain of the Secured Notes to permit the issuance of certain additional secured notes on the terms set forth therein, including the May First-Out Secured Note (as defined on Schedule I hereto) with the First-Out Lender, dated as of May 31, 2019, amended the Maturity Date under 

such Secured Notes and made certain other amendments thereto as set forth therein and amended and restated the Original Agreement Re: Secured Notes;
WHEREAS, the Borrowers and the Lenders previously entered into the Third Omnibus Amendment to Secured Notes and Amended and Restated Agreement Re: Secured Notes, dated as of June 28, 2019 (the “Third Agreement Re: Secured Notes”), which, among other things, amended the Secured Notes to permit certain asset sales and extended the Maturity Date under the Secured Notes as set forth therein and amended and restated the Second Agreement Re: Secured Notes; 
WHEREAS, the Borrowers and the Lenders previously entered into the Fourth Omnibus Amendment to Secured Notes and Amended and Restated Agreement Re: Secured Notes, dated as of July 31, 2019 (the “Fourth Agreement Re: Secured Notes”), which further extended the Maturity Date under the Secured Notes as set forth therein and amended and restated the Third Agreement Re: Secured Notes;
WHEREAS, the Borrowers and the Lenders previously entered into the Fifth Omnibus Amendment to Secured Notes and Amended and Restated Agreement Re: Secured Notes, dated as of August 2, 2019 (the “Fifth Agreement Re: Secured Notes”), which, among other things, permitted the issuance of the August First-Out Secured Note (as defined on Schedule I hereto) and amended and restated the Fourth Agreement Re: Secured Notes; 
WHEREAS, the Borrowers and the Lenders previously entered into the Sixth Omnibus Amendment to Secured Notes and Amended and Restated Agreement Re: Secured Notes, dated as of August 30, 2019 (the “Sixth Agreement Re: Secured Notes”), which further extended the Maturity Date under the Existing Secured Notes as set forth therein and amended and restated the Fifth Agreement Re: Secured Notes; 
WHEREAS, the Borrowers and the Lenders previously entered into the Seventh Omnibus Amendment to Secured Notes and Amended and Restated Agreement Re: Secured Notes, dated as of September 10, 2019 (the “Seventh Agreement Re: Secured Notes”), which, among other things, permitted the issuance of the September First-Out Secured Note (as defined on Schedule I hereto), permitted the First-Out Secured Notes (as defined on Schedule I hereto) as “First-Out Debt” and “First-Out Obligations” (each as defined herein) and amended and restated the Sixth Agreement Re: Secured Notes; and
WHEREAS, pursuant to this Agreement, the Parties wish to amend the Secured Notes to further extend the Maturity Date under the Secured Notes as set forth herein and amend and restate the Seventh Agreement Re: Secured Notes.
Capitalized terms used and not otherwise defined herein shall have the respective meanings set forth in the Secured Notes.
In consideration of the premises, the mutual covenants, and the agreements hereinafter set forth and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties covenant, agree and represent, as applicable, as follows:

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Section 1.  Certain Amendments and Understandings with respect to the Secured Notes. 
(a)  Amendments. 
(i)  The following defined terms contained in each of the Secured Notes are hereby amended and restated in their entirety as follows:
“Maturity Date” means the earlier of (a) October 31, 2019 and (b) the date on which all amounts under this Note shall become due and payable.
“Agreement Re: Secured Notes” means the Eight Omnibus Amendment to Secured Notes and Amended and Restated Agreement Re: Secured Notes, dated as of September 26, 2019, among the Borrowers and the lenders from time to time party thereto, as amended, amended and restated, supplemented or otherwise modified from time to time in accordance with the terms thereof.
(b)  Understandings of the Parties.
(i)  For greater certainty, the following defined term contained in each of the Secured Notes (other than the First-Out Secured Notes) is hereby restated in its entirety as follows:
“Permitted Indebtedness” means (i) (a) the indebtedness incurred pursuant to this Note, (b) additional indebtedness secured by the Collateral (including “First-Out Debt,” “First-Out Obligations,” “Pari Passu Debt” and “Pari Passu Obligations,” each as defined in the Agreement Re: Secured Notes) in an aggregate principal amount at any time outstanding of $64,700,000 minus the principal amount of this Note and (c) any refinancing or replacement indebtedness in respect of indebtedness incurred pursuant to the foregoing clauses (a) and (b), plus all refinancing fees, expenses, costs and premiums in connection with any such refinancing or replacement, (ii) indebtedness in respect of Capital Lease Obligations and Purchase Money Obligations, in an aggregate principal amount not to exceed $5,000,000, financing an acquisition, construction, repair, replacement, lease or improvement of a fixed or capital asset incurred by any Borrower after the acquisition, construction, repair, replacement, lease or improvement of the applicable asset and (iii) unsecured intercompany indebtedness between or among the Borrowers or unsecured intercompany indebtedness of the Parent Borrower pursuant to the intercompany note, executed as of April 30, 2019 and effective as of June 30, 2018 (and any refinancing or replacement indebtedness in respect thereof).
(ii)  The following defined term contained in the May First-Out Secured Note and the August First-Out Secured Note is hereby restated in its entirety as follows:
“Permitted Indebtedness” means (i) (a) the indebtedness incurred pursuant to this Note representing “First-Out Debt” (as defined in the Agreement Re: Secured Notes), (b) additional indebtedness secured by the Collateral (including 

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“First-Out Obligations,” “Pari Passu Debt” and “Pari Passu Obligations,” each as defined in the Agreement Re: Secured Notes) in an aggregate principal amount at any time outstanding of $64,700,000 minus the principal amount of this Note and (c) any refinancing or replacement indebtedness in respect of indebtedness incurred pursuant to the foregoing clauses (a) and (b), plus all refinancing fees, expenses, costs and premiums in connection with any such refinancing or replacement, (ii) indebtedness in respect of Capital Lease Obligations and Purchase Money Obligations, in an aggregate principal amount not to exceed $5,000,000, financing an acquisition, construction, repair, replacement, lease or improvement of a fixed or capital asset incurred by any Borrower after the acquisition, construction, repair, replacement, lease or improvement of the applicable asset and (iii) unsecured intercompany indebtedness between or among the Borrowers or unsecured intercompany indebtedness of the Parent Borrower pursuant to the intercompany note, executed as of April 30, 2019 and effective as of June 30, 2018 (and any refinancing or replacement indebtedness in respect thereof).
(iii)  The definition of “Permitted Indebtedness” contained in the September First-Out Secured Note shall be as set forth therein.
(iv)  For greater certainty, the following defined term contained in each of the Secured Notes is hereby restated in its entirety as follows:
 “Permitted Liens” means (i) Liens securing indebtedness incurred pursuant to clause (i) of the definition of “Permitted Indebtedness,” (ii) Liens of lessors, lessees, sublessors, sublessees, licensors or licensees arising under real estate lease or license arrangements entered into in the ordinary course of business of the Borrowers, (iii) inchoate mechanics and similar Liens for labor, materials or supplies to the extent securing amounts which are not yet due and payable, (iv) Liens under Capital Lease Obligations, provided, that (1) any such Lien attaches to such property concurrently with the acquisition thereof and (2) such Lien attaches solely to the property so acquired in such transaction (and the proceeds therefrom), (v) Liens for taxes, assessments and other governmental charges or levies (1) not yet due or for which installments have been paid based on reasonable estimates pending final assessments or (2) the validity, applicability or amount of which is being contested diligently and in good faith by appropriate proceedings by that Person and in respect of which adequate reserves under GAAP are established and maintained and (vi) Liens on equipment arising from precautionary UCC financing statements regarding operating leases of equipment.
(v)  For greater certainty, Section 7.2(f) of each of the Secured Notes (other than the August First-Out Secured Note and the September First-Out Secured Note) is hereby restated in its entirety as follows:
		
	(f) 
	permit or cause the sale of any assets of such Borrower or its subsidiaries, except (i) as set forth on Schedule 7.2(e) hereto, (ii) as permitted by Section 7.2(g) or (iii) for sales of any such assets not constituting Collateral in a 

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single transaction or series of related transactions with a fair market value not to exceed $2,500,000;

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(vi)  Section 7.2(f) of the August First-Out Secured Note and the September First-Out Secured Note shall be as set forth therein.
(vii)  Except as modified by this Agreement, the Original Omnibus Amendment remains in full force and effect.
Section 2.  Agreement Re: Secured Notes.
(a)  Issuance of Additional Secured Notes.
(i)  Notwithstanding anything to the contrary herein or in the Secured Notes, without the consent of or prior notice to the Lenders, the Borrowers shall be permitted to issue one or more additional secured notes (each, an “Additional Secured Note” and, collectively, the “Additional Secured Notes”) to one or more Additional Lenders secured by the same Collateral as the Secured Notes and otherwise on substantially the same terms as the Secured Notes (including an interest rate not to exceed 8.5% per annum, a default rate not to exceed 2.0% per annum and a maturity date not earlier than the Maturity Date of each other Secured Note) to the extent permitted by the Secured Notes.
(ii)  Substantially concurrently with the execution and delivery of any Additional Secured Note, each Additional Lender under such Additional Secured Note not then party hereto shall execute and deliver to the Borrowers a counterpart signature page to this Agreement, and thereby such Additional Lender shall have (i) agreed to be bound by all of the terms of this Agreement, (ii) assumed all rights and obligations of an “Additional Lender” and a “Lender” hereunder and (iii) be deemed to have made all of the representations and warranties thereof as of the date of the execution of such counterpart signature page.
(b)  Collateral Matters.
(i)  The obligations of each Lender under the Secured Notes or any Additional Secured Note, as applicable, shall be secured by the Collateral on a pari passu basis and any proceeds from the Collateral however received shall be distributed in accordance with clause (c) below.
(ii)  Only the Initial Lenders may act or refrain from acting with respect to the Collateral or any proceeds therefrom. Without the express written consent of the Initial Lenders, no Additional Lender shall attempt any action to take possession of, exercise any right, remedy or power with respect to, or otherwise take any action to enforce its security interest in or realize upon, or take any other action available to it in respect of, any Collateral (provided, however, that the foregoing shall not prohibit any Additional Lender from taking any action to perfect its security interest in the Collateral, including by filing UCC financing statements).
(iii)  Neither Initial Lender shall have by reason of this Agreement or any other related document a fiduciary relationship with respect to any Additional Lender, and each Additional Lender hereby waives and releases each Lender from all claims and 

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liabilities arising pursuant to any Initial Lender’s role under this Agreement or any related document.
(c)  Application of Proceeds. 
(i)  The Initial Lenders (and, to the extent permitted by Section 2(b)(ii), any Additional Lender) will apply the proceeds of any collection, sale, foreclosure or other realization upon, or exercise of any right or remedy with respect to, any Collateral and the proceeds thereof in the following order of application:
FIRST, to the payment of any reasonable costs and expenses (including reasonable legal fees) incurred by any Initial Lender or indemnification obligations then due and payable to any Initial Lender pursuant to the Great American Secured Notes (as defined on Schedule I hereto), in each case, in connection with the administration or disposition of Collateral or any proceeds therefrom;

SECOND, to the repayment of obligations (other than Pari Passu Obligations (as defined below)) secured by a Permitted Prior Lien (as defined below) on any Collateral sold or realized upon;

THIRD, to the First-Out Lender for application to the payment of all outstanding First-Out Obligations (as defined below) that are then due and payable in an amount sufficient to discharge all First-Out Obligations;

FOURTH, after the discharge of all First-Out Obligations, to each other Lender for application to the equal and ratable payment of all other outstanding Pari Passu Obligations that are then due and payable in an amount sufficient to discharge all Pari Passu Obligations; and

FIFTH, any surplus remaining after the payment of amounts described in the preceding clauses will be paid to the Borrowers, or to such other persons as may be entitled to such amounts under applicable law or as a court of competent jurisdiction may direct. 

(ii)  “Excess First-Out Debt” means any obligations under First-Out Debt (other than the principal amount of, and regular installments of interest on, First-Out Debt) in excess of $250,000.
(iii)  “Excess First-Out Obligations” means Excess First-Out Debt and all other obligations in respect thereof.
(iv)  “First-Out Debt” means the First-Out Secured Notes; provided that, for the avoidance of doubt, Excess First-Out Debt shall constitute Pari Passu Debt and not First-Out Debt.

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(v)  “First-Out Obligations” means First-Out Debt and all other obligations in respect thereof; provided that, for the avoidance of doubt, Excess First-Out Obligations shall constitute Pari Passu Obligations and not First-Out Obligations.
(vi)  “Pari Passu Debt” means:
(1) all Secured Notes (other than the First-Out Secured Notes);

(2) all First-Out Debt;

(3) any Excess First-Out Debt; and

(4) any other indebtedness (including any Additional Secured Note) of the Borrowers that is secured equally and ratably with the Secured Notes (other than the First-Out Secured Notes), the First-Out Debt and any Excess First-Out Debt by a pari passu Lien that was permitted to be incurred under this Agreement and the Secured Notes.

(vii)  “Pari Passu Obligations” means Pari Passu Debt and all other obligations in respect of Pari Passu Debt, including without limitation any post-petition interest whether or not allowable.
(viii)  “Permitted Prior Lien” means any Lien that has priority over the Lien of the Lenders,which Lien was permitted under each Secured Note and any Additional Secured Note.
Section 3.  Expenses.
(a)  Expenses. The Borrowers jointly and severally agree to pay to the Initial Lenders the costs and expenses (excluding, for the avoidance of doubt, net income and other taxes) incurred by the Initial Lenders, including legal fees, in connection with (i) preparation, negotiation, and execution of this Agreement and any other documents executed in connection herewith, (ii) the transactions contemplated by this Agreement, including, but not limited to amendments to the Secured Notes, and any other document executed in connection herewith, (iii) monitoring an Initial Lender’s rights with respect to its obligations under this Agreement and (iv) the issuance of any Additional Secured Notes after the date hereof. 
Section 4.  Representations and Warranties.
(a)  Representations and Warranties of the Borrowers. Each Borrower hereby represents and warrants as of the date hereof as follows:
(i)  Each Borrower is a corporation, duly organized, validly existing and in good standing under the Laws of Delaware and has the power and authority to own its property and to carry on its business in each jurisdiction in which such Borrower does a material volume of business.

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(ii)  Each Borrower has full power and authority to execute and deliver this Agreement and to incur and perform the obligations provided for herein, all of which have been duly authorized by all proper and necessary action of the board of directors of such Borrower. No consent or approval of any public authority or other third party is required as a condition to the validity of this Agreement, and each Borrower is in compliance with all Laws and regulatory requirements to which it is subject.
(iii)  This Agreement constitutes the valid and legally binding obligation of each Borrower, enforceable against such Borrower in accordance with its terms.
(iv)  There is no charter, bylaw, stock provision, partnership agreement or other document pertaining to the organization, power or authority of each Borrower and no provision of any existing agreement, mortgage, indenture or contract binding on such Borrower or affecting its property, which would conflict with or in any way prevent the execution, delivery or carrying out of the terms of this Agreement.
(v)  The financial statements of each Borrower as of and for the fiscal quarter ended June 30, 2019 previously delivered to the Lenders fairly present, in all material respects, the financial condition, results of operations, shareholders’ equity and cash flows of such Borrower in accordance with GAAP and do not contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements contained therein, in light of the circumstances under which they were made, not misleading. 
(vi)  Except as disclosed to the Lenders on Schedule II hereto, (a) there is no action, claim, notice of violation, order to show cause, complaint, investigation, or proceeding involving any Borrower pending or, to the knowledge of any Borrower threatened before any court or Governmental Authority, agency or arbitration authority or (b) there is no outstanding decree, decision, judgment, or order that has been issued by any court, Governmental Authority, agency or arbitration authority against such Borrower or its FCC Licenses.
(vii)  (a) Each of the FCC Licenses issued to any Borrower is valid, binding, in full force and effect, and enforceable by such Borrower in accordance with its terms; (b) any Borrower that is the holder of each such FCC License has performed all obligations thereunder in all material respects and has not received written notice of intention to terminate any FCC License or written notice alleging a material default (other than letters of default that have been rescinded or with respect to defaults that have been cured or waived); and (c) no event caused by, relating to or affecting any Borrower that is the holder of an FCC License has occurred which (with or without the giving of notice or lapse of time, or both) would constitute a Material Adverse Change by any Borrower of the terms of such FCC License, the Communications Act of 1934, as amended (the “Communications Act”), or the rules, regulations, written policies, orders and decisions of the Federal Communications Commission (“FCC”) adopted under the Communications Act, in each case as from time to time in effect (the “FCC Rules”).

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(viii)  Except for proceedings affecting the broadcasting industry generally, neither Borrower is a party to or has knowledge of any investigation, notice of apparent liability, violation, forfeiture or other order or complaint issued by or before the FCC, or of any other proceedings which could in any manner threaten or adversely affect the validity or continued effectiveness of the FCC Licenses of any such Person or give rise to any order of forfeiture that would reasonably be expected to have a Material Adverse Change. Neither Borrower has any reason to believe that the FCC Licenses issued to any Borrower will not be renewed in the ordinary course. Each Borrower has filed in a timely manner all material reports, applications, documents, instruments and information required to be filed by it pursuant to the FCC Rules. No licenses, authorizations, permits or other rights other than the FCC Licenses are required under the Communications Act or the FCC Rules to operate the respective businesses of the Borrowers in substantially the manner it is being operated as of the date of this Agreement.
(ix)  Parent owns all of the issued and outstanding capital stock of each of the Operating Subsidiaries, and all such capital stock is validly issued, fully paid and non-assessable and is free and clear of all liens or adverse claims, other than the security interest in favor of the Lenders or as would not constitute a Material Adverse Change. 
(x)  No representation or warranty by any Borrower in this Agreement or in any of the other documents or instruments executed in connection herewith and no statement contained any certificate or other document furnished or to be furnished to the Lenders pursuant to this Agreement contains any untrue statement of a material fact, or omits to state a material fact necessary to make the statements contained therein, in light of the circumstances in which they are made, not misleading.
(b)  Representations and Warranties of the Lenders. Each Lender hereby represents and warrants as of the date hereof as follows:
(i)  Each Lender is a corporation or limited liability company, as applicable, duly organized, validly existing and in good standing under the Laws of its jurisdiction of incorporation or organization, as applicable, and has the power and authority to own its property and to carry on its business in each jurisdiction in which such Lender does a material volume of business.
(ii)  Each Lender has full power and authority to execute and deliver this Agreement and to incur and perform the obligations provided for herein, all of which have been duly authorized by all proper and necessary action of such Lender. No consent or approval of any public authority or other third party is required as a condition to the validity of this Agreement, and each Lender is in compliance with all Laws and regulatory requirements to which it is subject.
(iii)  This Agreement constitutes the valid and legally binding obligation of each Lender, enforceable against such Lender in accordance with its terms.

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(iv)  There is no charter, bylaw, stock provision, partnership agreement or other document pertaining to the organization, power or authority of each Lender and no provision of any existing agreement, mortgage, indenture or contract binding on such Lender or affecting its property, which would conflict with or in any way prevent the execution, delivery or carrying out of the terms of this Agreement.
Section 5.  Miscellaneous.
(a)  Notices.
(i)      All notices, requests or other communications required or permitted to be delivered hereunder shall be delivered in writing and shall be given by personal delivery or nationally recognized overnight courier, in each case to the address specified below or to such other address as such Party may from time to time specify in writing in compliance with this provision:
If to the Borrowers:
HC2 Broadcasting Holdings Inc.
HC2 Station Group, Inc.
HC2 LPTV Holdings, Inc.  
c/o HC2 Holdings, Inc. 
450 Park Avenue, 30th Floor 
New York, New York 10022 
Attn: Rebecca Hanson

If to the Initial Lenders:
Great American Life Insurance Company and 
Great American Insurance Company 
c/o American Money Management Corporation 
301 East Fourth Street 
27th Floor 
Cincinnati, Ohio 45202 
Attn: Tom Keitel and Tim Shipp
With copies to:
Great American Insurance Company 
c/o American Money Management Corporation 
301 East Fourth Street 
27th Floor 
Cincinnati, Ohio 45202 
Attn: John S. Fronduti and Mark A. Weiss
If to an Additional Lender:
Minority Brands, Inc.
653 McCorkle Boulevard

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Suite P
Westerville, Ohio 43082
Attn: Richard Schlig

With copies to:

Koerner and Olender, P.C.
7020 Richard Drive
Bethesda, Maryland 20817
Attn: James Koerner

Arena Limited SPV, LLC
405 Lexington Avenue
59th Floor
New York, New York 10174

With copies to:

Winston & Strawn LLP
200 Park Avenue
New York, NY 10166
Attn: John Kalyvas

(ii)  Notices are deemed received (a) when delivered, if personally delivered, and (b) on the next Business Day after tender for delivery if delivered by reputable overnight courier service.
(b)  Governing Law. THIS AGREEMENT AND ANY CLAIM, CONTROVERSY, DISPUTE OR CAUSE OF ACTION BASED UPON, ARISING OUT OF OR RELATING TO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES WHICH WOULD CAUSE THE APPLICATION OF THE LAWS OF ANY OTHER JURISDICTION OTHER THAN THE STATE OF NEW YORK.
(c)  Submission to Jurisdiction. Each Party hereby irrevocably and unconditionally (i) agrees that any legal action, suit or proceeding arising out of or relating to this Agreement may be brought in the state and federal courts located in the State of New York, County of New York, Borough of Manhattan and (ii) submits to the jurisdiction of any such court in any such action, suit or proceeding. Final judgment against any Party in any action, suit or proceeding shall be conclusive and may be enforced in any other jurisdiction by suit on the judgment. 
(d)  Venue. Each Party irrevocably and unconditionally waives, to the fullest extent permitted by applicable Law, any objection that it may now or hereafter have to the laying of venue of any action or proceeding arising out of or relating to this Agreement in any court 

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referred to in the foregoing paragraph and the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court.
(e)  Waiver of Jury Trial. EACH PARTY HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY.
(f)  Counterparts; Integration; Effectiveness. This Agreement and any amendments, waivers, consents or supplements hereto may be executed in counterparts, each of which shall constitute an original, but all taken together shall constitute a single instrument. This Agreement and the Secured Notes constitute the entire agreement between the Parties with respect to the subject matter hereof and supersedes all previous agreements and understandings, oral or written, with respect thereto. Delivery of an executed counterpart of a signature page to this Agreement by facsimile or in electronic (i.e., “pdf” or “tif”) format shall be effective as delivery of a manually executed counterpart of this Agreement.
(g)  Successors and Assigns. This Agreement may be assigned by the Initial Lenders to any Person who is a “United States person” as defined in Section 7701(a)(30) of the Internal Revenue Code, as amended, and by the First-Out Lender to any of its controlled affiliates (or in the event of any foreclosure or exercise of rights or remedies with respect to the Collateral permitted by Section 2(b)(ii), to any of its affiliates); provided that, any such assignment or transfer shall be evidenced by the execution of a joinder or counterpart to this Agreement in the name of the assignee or transferee with terms and conditions identical to those herein. The Borrowers may not assign or transfer this Agreement or any of its rights hereunder without the prior written consent of Lenders holding a majority in aggregate principal amount of the Secured Notes and any Additional Secured Notes then outstanding (collectively, the “Majority Lenders”) and the First-Out Lender. 
(h)  Third Party Beneficiaries. This Agreement shall inure to the benefit of, and be binding upon, the Borrowers and the Lenders (and the applicable Lenders’ respective permitted assigns).
(i)  Interpretation. For purposes of this Agreement: (i) the words “include,” “includes” and “including” shall be deemed to be followed by the words “without limitation”; (ii) the word “or” is not exclusive; and (iii) the words “herein,” “hereof,” “hereby,” “hereto” and “hereunder” refer to this Agreement as a whole. The definitions given for any defined terms in this Agreement shall apply equally to both the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. Unless the context otherwise requires, references herein: (x) to Schedules, Exhibits and Sections mean the Schedules, Exhibits and Sections of this Agreement; (y) to an agreement, instrument or other document means such agreement, instrument or other document as amended, supplemented and modified from time to time to the extent permitted by the provisions thereof; and (z) to a statute means such statute as amended from time to time and includes any successor legislation thereto and any regulations promulgated thereunder. This 

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Agreement shall be construed without regard to any presumption or rule requiring construction or interpretation against the party drafting an instrument or causing any instrument to be drafted.
(j)  Amendments and Waivers. No term of this Agreement may be waived, modified, amended, amended and restated, or supplemented except by an instrument in writing signed by the Borrowers and the Majority Lenders. Any waiver of the terms hereof shall be effective only in the specific instance and for the specific purpose given. Notwithstanding the foregoing, no provision of Section 2 may be waived, modified, amended, amended and restated, or supplemented in any manner whatsoever (whether set forth elsewhere in this Agreement or in any other agreement) without the written consent of each Lender, which consent shall not be unreasonably withheld, conditioned or delayed.
(k)  Headings. The headings of the various Sections and subsections herein are for reference only and shall not define, modify, expand or limit any of the terms or provisions hereof.
(l)  No Waiver; Cumulative Remedies. No failure to exercise and no delay in exercising on the part of any Lender, of any right, remedy, power or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided are cumulative and not exclusive of any rights, remedies, powers and privileges provided by applicable Law.
(m)  Severability. If any term or provision of this Agreement is invalid, illegal or unenforceable in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other term or provision of this Agreement or invalidate or render unenforceable such term or provision in any other jurisdiction. Upon such determination that any term or other provision is invalid, illegal or unenforceable, the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in a mutually acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated to the greatest extent possible.
(n)  Further Assurances. The Parties irrevocably (i) consent to the transactions contemplated hereby and (ii) shall sign (or cause to be signed) all further documents, do (or cause to be done) all further acts, and provide all assurances as may reasonably be necessary or desirable to give effect to the terms of this Agreement.
(o)  Publicity; Confidentiality. Except as may be required by applicable Law, none of the Parties shall issue a press release or public announcement or otherwise make any disclosure concerning this Agreement or the transactions contemplated hereby, without prior written consent of the other Parties. If any announcement is required by applicable Law to be made by a Party, prior to making such announcement or disclosure such Party, to the extent reasonably practicable, will deliver a draft of such announcement to the other party and shall give the other party a reasonable opportunity to comment thereon. Notwithstanding anything to the contrary herein, the Parties may (i) disclose the terms and provisions of this Agreement in, and/or file this Agreement as an exhibit to, any report required to be filed with the Securities and Exchange Commission and (ii) publish, make, repeat or otherwise use any statement previously 

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1799740.02-NYCSR03A - MSW

consented to by the other Parties unless and until another Party objects in writing to the use thereof.
(p)  This Agreement Controlling. Each Party hereby agrees that in the event of any conflict between this Agreement and any Secured Note or Additional Secured Note, this Agreement shall govern and be controlling.
(Signature Pages Follow)

15
1799740.02-NYCSR03A - MSW

IN WITNESS WHEREOF, the Borrowers have executed this Agreement as of the date first written above.

HC2 BROADCASTING HOLDINGS INC., 
as the Parent Borrower

HC2 STATION GROUP, INC.,
 as a Subsidiary Borrower

HC2 LPTV HOLDINGS, INC., 
as a Subsidiary Borrower

By:    /s/ Ivan Minkov     
    Name:    Ivan P. Minkov 
    Title:    Chief Financial Officer

[Signature Page to 
Eighth Omnibus Amendment and Amended and Restated Agreement Re: Secured Notes]

Accepted and agreed:
GREAT AMERICAN LIFE  
INSURANCE COMPANY, 
as an Initial Lender

By:    /s/ Mark F. Muething     
    Name:    Mark F. Muething 
    Title:    President

GREAT AMERICAN  
INSURANCE COMPANY, 
as an Initial Lender

By:                     
    Name:    Sue A. Erhart 
    Title:    Senior Vice President

[Signature Page to 
Eighth Omnibus Amendment and Amended and Restated Agreement Re: Secured Notes]

Accepted and agreed:
GREAT AMERICAN LIFE  
INSURANCE COMPANY, 
as an Initial Lender

By:                     
    Name:    Mark F. Muething 
    Title:    President

GREAT AMERICAN  
INSURANCE COMPANY, 
as an Initial Lender

By:    /s/ Sue A. Erhart     
    Name:    Sue A. Erhart 
    Title:    Senior Vice President

[Signature Page to 
Eighth Omnibus Amendment and Amended and Restated Agreement Re: Secured Notes]

MINORITY BRANDS, INC.,
as an Additional Lender

By:    /s/ Richard Schilg                     
    Name:  Richard Schilg
    Title:     Chief Executive Officer

[Signature Page to 
Eighth Omnibus Amendment and Amended and Restated Agreement Re: Secured Notes]

ARENA LIMITED SPV, LLC,
as the First-Out Lender and an Additional Lender

By:      /s/ Lawrence Cutler                 
    Name:   Lawrence Cutler
    Title:      Authorized Signer

[Signature Page to 
Eighth Omnibus Amendment and Amended and Restated Agreement Re: Secured Notes]

Schedule I:
Secured Notes
		
	1.
	US $35,000,000 secured note, dated as of August 7, 2018, among the Borrowers and the Initial Lenders (as amended by the Agreement Re: Secured Notes, the “$35,000,000 Secured Note”).

		
	2.
	US $7,500,000 secured note, dated as of January 22, 2019, among the Borrowers and the Initial Lenders (the “$7,500,000 Secured Note” and, together with the $35,000,000 Secured Note, the “Great American Secured Notes”).

		
	3.
	US $700,000 secured note, dated as of April 1, 2019, among the Borrowers and MBI, as amended by the letter agreement, dated as of July 31, 2019 and the letter agreement, dated as of August 30, 2019 (the “MBI Secured Note”).

		
	4.
	US $10,750,000 secured note, dated as of May 31, 2019, among the Borrowers and the First-Out Lender (the “May First-Out Secured Note”).

		
	5.
	US $5,375,000 secured note, dated as of August 2, 2019, among the Borrowers and the First-Out Lender (the “August First-Out Secured Note).

		
	6.
	US $5,375,000 secured note, dated as of September 10, 2019, among the Borrowers and the First-Out Lender (the “September First-Out Secured Note” and, together with the May First-Out Secured Note and the August First-Out Secured Note, the “First-Out Secured Notes” and, the First-Out Secured Notes together with the Great American Secured Notes and the MBI Secured Note, the “Secured Notes”).

Sch-I-1

1799740.02-NYCSR03A - MSW

Schedule II:
Actions, Orders, Proceedings, Investigations
		
	(1)
	DTV America Corp., et al., Order and Consent Decree, 32 FCC Rcd 9129 (MB Oct. 31, 2017);

		
	(2)
	Mako Communications LLC, Order and Consent Decree, 31 FCC Rcd 112 (MB Jan. 13, 2016);

		
	(3)
	Una Vez Mas Las Vegas License, LLC Licensee of KHDF-CA, Las Vegas, NV Facility Id No. 66807, Forfeiture Order, 22 FCC Rcd 6355 (EB Mar. 28, 2007).

________________________________________
		
	1 
	The Parties to the Order and Consent Decree include DTV America Corporation, King Forward, Inc., Tiger Eye Broadcasting Corporation, and Tiger Eye Licensing, LLC, as licensees, and HC2 Broadcasting Inc. and HC2 Broadcasting License Inc., as proposed assignees/transferees and successors-in-interest. The Parties agreed to implement a compliance plan for three years (i.e. until October 31, 2020). The FCC authorizations subject to the Consent Decree are listed in Appendix A to the Consent Decree.

		
	2 
	Mako Communications LLC (“Mako”), predecessor-in-interest to HC2 LPTV Station Group, entered into a Consent Decree with the FCC’s Media Bureau to resolve alleged violations of the FCC’s public inspection file rules by station KNBX-CD (FID 33819). Mako and its successors-in-interest agreed to implement a compliance plan for two years (i.e., until January 13, 2018) under the terms of the Consent Decree. The requirements of this Order and Consent Decree have likely been satisfied or expired but are noted here out of an abundance of caution.

		
	3 
	The FCC found Una Vez Mas Las Vegas License, LLC, predecessor-in-interest to HC2 Station Group, liable for a monetary forfeiture in the amount of $6,400 for willful and repeated violation of section 73.3526 of the FCC’s rules by KHDF-CA (FID 66807). The requirements of this Order and Consent Decree have likely been satisfied or expired but are noted here out of an abundance of caution.

Sch-II-1
1799740.02-NYCSR03A - MSWExhibit

Exhibit 10.1

EXCHANGE AGREEMENT
This Exchange Agreement (this “Agreement”), dated as of November 5, 2019, is by and among (x) Mallinckrodt International Finance S.A., a société anonyme existing under the laws of Luxembourg (“MIFSA”), Mallinckrodt CB LLC, a Delaware limited liability company (“U.S. Co-Issuer” and, together with MIFSA, the “Issuers”), and, for purposes of Sections 3(e)-(h) and 4(g) only, Mallinckrodt plc, a public limited company incorporated in Ireland and the ultimate parent entity of the Issuers (“Mallinckrodt Parent”) and (y) each undersigned holder (each, a “Noteholder Party”, and collectively, the “Noteholder Parties”) of certain 4.875% Senior Notes due 2020 (the “Existing 4.875% 2020 Notes”), 4.750% Senior Notes due 2023 (the “Existing 4.750% 2023 Notes”), 5.625% Senior Notes due 2023 (the “Existing 5.625% 2023 Notes”) and 5.500% Senior Notes due 2025 (the “Existing 5.500% 2025 Notes” and, together with the 5.750% Senior Notes due 2022, Existing 4.750% 2023 Notes and Existing 5.625% 2023 Notes, the “Existing Non-2020 Notes” and, together with the Existing 4.875% 2020 Notes, the “Existing Notes”), in each case issued by MIFSA and, other than the Existing 4.750% 2023 Notes, U.S. Co-Issuer, under those certain indentures governing the Existing Notes (collectively, the “Indentures”).  The Issuers and the Noteholder Parties are referred to herein collectively as the “Parties.”
RECITALS
WHEREAS, the Issuers have agreed to commence (a) offers to exchange (collectively, the “Exchange Offers”) the outstanding notes of each series of Existing Notes for certain newly issued notes of the Issuers and (b) solicitations of consents (the “Consents”) from holders of Existing Notes to the Proposed Amendments (as defined in the Offering Memorandum) to the Indentures (collectively, the “Consent Solicitations”), in each case pursuant to and subject to the terms and conditions set forth in an Offering Memorandum and Consent Solicitation Statement substantially in the form of Exhibit A hereto (as it may be amended in accordance with this Agreement, the “Offering Memorandum”); and
WHEREAS, subject to and concurrently with the consummation of the Exchange Offers, all of the Existing Notes beneficially owned by each Noteholder Party (or for which such Noteholder Party acts as discretionary investment manager, advisor or sub-advisor with authority to bind a beneficial owner of Existing Notes), including Existing Notes held through a custodial account beneficially owned by such Noteholder Party, will be exchanged for the applicable Total Offer Consideration (as defined in the Offering Memorandum) pursuant to a transaction separate from the Exchange Offers (the “Exchange”), it being understood that the Exchange shall not be subject to the proration that is applicable to the Exchange Offers for the Existing Non-2020 Notes set forth in the Offering Memorandum. 
AGREEMENT
NOW, THEREFORE, in consideration of the premises and mutual covenants and agreements set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, each of the Parties hereby agrees as follows:
Section 1.Definitions.  Unless otherwise indicated, capitalized terms not defined herein shall have the meanings ascribed to such terms in the Offering Memorandum.

Section 2.Representations and Warranties of the Noteholder Parties.  Each Noteholder Party hereby represents and warrants, severally and not jointly, to Mallinckrodt Parent and the Issuers that the following statements are true and correct as of the date hereof (and, in the case of the last sentence of Section 2(d), as of each Additional Exchange Closing Date (if any)):

(a)Such Noteholder Party has all necessary corporate or similar power and authority to execute and deliver this Agreement and to perform its obligations hereunder.  The execution and delivery of this Agreement by such Noteholder Party and the performance of its obligations hereunder have been duly authorized by all necessary corporate or similar action on the part of such Noteholder Party.  

(b)This Agreement has been duly and validly executed and delivered by such Noteholder Party.  This Agreement constitutes the valid and binding obligation of such Noteholder Party, enforceable against such Noteholder Party in accordance with its terms, except as may be limited by (i) the effects of bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws relating to or affecting the rights and remedies of creditors generally or (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law).

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(c)The execution, delivery and performance of this Agreement by such Noteholder Party, and such Noteholder Party’s compliance with the provisions hereof, will not (with or without notice or lapse of time, or both): (i) violate any provision of such Noteholder Party’s organizational or governing documents; (ii) violate any law or order applicable to such Noteholder Party; or (iii) require any consent or approval under, violate, result in any breach of, or constitute a default under, or result in termination or give to others any right of termination, amendment, acceleration or cancellation of any contract, agreement, arrangement or understanding that is binding on such Noteholder Party, except, in the case of clause (ii) and (iii) above, where not material to such Noteholder Party or its ability to perform its obligations under this Agreement or the transactions contemplated hereby.

(d)The principal amount of Existing Notes beneficially owned by such Noteholder Party (or for which such Noteholder Party acts as discretionary investment manager, advisor or sub-advisor with authority to bind a beneficial owner of the Subject Notes), including Existing Notes held through a custodial account beneficially owned by such Noteholder Party, as of the date hereof is set forth, together with its Depository Trust Corporation participant information with respect to such Subject Notes, on Schedule I hereto (the “Subject Notes”).  Such Noteholder Party beneficially owns (within the meaning of Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (or is acting in its capacity as discretionary investment manager, advisor or sub-advisor with authority to bind the beneficial owner of) the Subject Notes, or beneficially owns the custodial account through which such Subject Notes are held, free and clear of any liens, charges, claims, encumbrances, participations, security interests and similar restrictions and any other restrictions that could adversely affect the ability of such Noteholder Party to perform its obligations hereunder.  As of each Additional Exchange Closing Date (if any), such Noteholder Party beneficially owns (or is acting in its capacity as discretionary investment manager, advisor or sub-advisor with authority to bind the beneficial owner of) the Additional Notes, or beneficially owns the custodial account through which such Subject Notes are held, free and clear of any liens, charges, claims, encumbrances, participations, security interests and similar restrictions and any other restrictions that could adversely affect the ability of such Noteholder Party to perform its obligations hereunder.  

(e)Such Noteholder Party is a “qualified institutional buyer” as defined in Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”)

(f)Such Noteholder Party will acquire the New Notes for its own account or for the account of another for which it acts as discretionary investment manager, advisor or sub-advisor, for investment and not with a view to the distribution thereof or any interest therein in violation of the Securities Act or applicable state securities laws.

(g)Such Noteholder Party acknowledges for the benefit of the Mallinckrodt Group (including for the benefit of any person acting on behalf of any member of the Mallinckrodt Group, including, without limitation, any financial or other advisor of any of the foregoing acting for any member of the Mallinckrodt Group in connection with this Agreement and the transactions set forth herein) that it has the requisite knowledge and experience in financial and business matters so that it is capable of evaluating the merits and risks of the acquisition of the New Notes contemplated hereby and has had such opportunity as it has deemed adequate to obtain such information as is necessary to permit such Noteholder Party to evaluate the merits and risks of the acquisition of the New Notes contemplated hereby. 

(h)Such Noteholder Party acknowledges that none of the Issuers, Mallinckrodt Parent, nor the other subsidiaries of Mallinckrodt Parent (all of the foregoing, the “Mallinckrodt Group”) intends to register the New Notes, any offer or sale thereof, the Exchange, the Additional Exchanges or the Exchange Offers under the Securities Act or the Exchange Act or any state securities laws.

(i)Such Noteholder Party acknowledges for the benefit of the Mallinckrodt Group (including for the benefit of any person acting on behalf of any member of the Mallinckrodt Group, including, without limitation, any financial or other advisor of any of the foregoing acting for any member of the Mallinckrodt Group in connection with this Agreement and the transactions set forth herein) that (i) the Mallinckrodt Group may be in possession of information about the Mallinckrodt Group (including material non-public information) that may impact the value of the Existing Notes and/or the New Notes, and may not be included in the information available to such Noteholder Party, (ii) notwithstanding any such informational disparity, such Noteholder Party has independently evaluated the risks and merits regarding the transactions contemplated by this Agreement, including with respect to the Exchange and the New Notes, and wishes to enter into this Agreement and consummate the transactions contemplated hereby in accordance with its terms, (iii) no member of the Mallinckrodt Group or any other person acting on behalf of any member of the Mallinckrodt Group, including, without limitation, any financial advisor of any of the foregoing, has made or is making any representation or warranty to such Noteholder Party or any other person, whether express or implied, of any kind or character (including, without limitation, as to accuracy or completeness of any information or as to the creditworthiness of the Issuers or the New Notes or as to the transactions contemplated by this Agreement), and (iv) such Noteholder Party is not relying upon, and has not relied upon, 

2

any representation or warranty made by any person regarding the transactions contemplated by this Agreement or otherwise, except, in the case of clauses (iii) and (iv), for the representations and warranties of the Issuers contained in this Agreement. 

(j)Such Noteholder Party acknowledges for the benefit of the Mallinckrodt Group (including for the benefit of any person acting on behalf of any member of the Mallinckrodt Group, including, without limitation, any financial or other advisor of any of the foregoing acting for any member of the Mallinckrodt Group in connection with this Agreement and the transactions set forth herein) that it has made its own independent assessment, to its satisfaction, concerning any and all legal, regulatory, tax, credit, business and financial considerations with respect to the Mallinckrodt Group, the Existing Notes and the New Notes in connection with its acquisition of the New Notes contemplated hereby.

(k)Such Noteholder Party acknowledges that the New Notes to be issued in each Additional Exchange may not be part of the “same issue” as the New Notes issued in the Exchange for purposes of Treasury Regulations Section 1.1275-1(f) and/or Treasury Regulations Section 1.1275-2(k).

Section 3.Representations and Warranties of the Issuers.  Each Issuer (and, solely with respect to Sections 3(e)-(h), Mallinckrodt Parent) hereby represents and warrants, severally and not jointly, to the Noteholder Parties that the following statements are true and correct as of the date hereof:

(a)Such Issuer has all necessary corporate or similar power and authority to execute and deliver this Agreement and to perform its obligations hereunder.  The execution and delivery of this Agreement by such Issuer and the performance of its obligations hereunder have been duly authorized by all necessary corporate or similar action on the part of such Issuer.  No other votes, written consents, actions or proceedings by or on behalf of such Issuer are necessary to authorize this Agreement or the performance of its obligations hereunder.

(b)This Agreement has been duly and validly executed and delivered by such Issuer.  This Agreement constitutes the valid and binding obligation of such Issuer, enforceable against such Issuer in accordance with its terms, except as may be limited by (i) the effects of bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws relating to or affecting the rights and remedies of creditors generally or (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law).

(c)The execution, delivery or performance of this Agreement by such Issuer  and such Issuer’s compliance with the provisions hereof will not (with or without notice or lapse of time, or both): (i) violate any provision of the organizational or governing documents of such Issuer; (ii) violate any law or order applicable to any member of the Mallinckrodt Group; or (iii) require any consent or approval under, violate, conflict with, result in any breach of, or constitute a default under, or result in termination or give to others any right of termination, amendment, acceleration or cancellation of any contract, agreement, arrangement or understanding that is binding on any member of the Mallinckrodt Group or on any of their respective properties or assets (including, without limitation, any indentures, credit facilities or agreements under which any member of the Mallinckrodt Group has issued debt securities or has outstanding indebtedness), except, in the case of clause (ii) and (iii) above, where not reasonably likely to have a material adverse effect on the ability of the Issuers to perform their respective obligations under this Agreement or the transactions contemplated hereby. 

(d)The Offering Memorandum does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided that, with respect to any projected information, such Issuer represents and warrants only that such information was prepared in good faith based upon assumptions believed to be reasonable at the time. 

(e)The New Notes to be issued by the Issuers to the Noteholder Parties pursuant to those certain indentures to be entered into in connection with the Exchange and the Exchange Offers (collectively, the “New Indentures”) will, upon issuance thereof, have been duly authorized for issuance and sale pursuant to this Agreement and the applicable New Indenture and, upon issuance thereof, will have been duly executed by the Issuers and, when authenticated in the manner to be provided for in the New Indenture and delivered in exchange for the Subject Notes or the Additional Notes (if any), will constitute valid and binding obligations of such Issuer, enforceable against such Issuer in accordance with their respective terms, except as may be limited by (i) the effects of bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws relating to or affecting the rights and remedies of creditors generally, or (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law), and will be entitled to the benefits of the New Indenture. 

3

(f)The New Indenture (including the guarantees set forth therein) and each Note Document to be entered into on the Settlement Date, will be duly authorized by such Issuer and guarantors party thereto and will constitute a valid and binding agreement of such Issuer and guarantors party thereto, enforceable against such Issuer and guarantors party thereto in accordance with its terms, except as may be limited by (i) the effects of bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws relating to or affecting the rights and remedies of creditors generally, (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law), (iii) the need for filings and registrations necessary to perfect any security granted thereby and (iv) the effect of any requirements of law as they relate to pledges of equity interests in any subsidiaries organized outside of the United States (other than pledges made under the laws of the jurisdiction of formation of the issuer of such equity interests).

(g)The execution, delivery and performance by such Issuer and Mallinckrodt Parent of this Agreement and the consummation of the transactions contemplated hereby, including commencement and consummation of the Exchange, the Additional Exchanges (if any), the Exchange Offers and the Consent Solicitations, do not and will not require any registration or filing with, the consent or approval of, notice to, or any other action with respect to (with or without due notice, lapse of time, or both), any governmental authority, other than (i) Current Reports on Form 8-K filed or furnished by Mallinckrodt plc with respect to the Exchange, the Additional Exchanges (if any), the Exchange Offers and the Consent Solicitations, (ii) such as have been made or obtained and are in full force and effect, (iii) filings of Uniform Commercial Code financing statements and other registrations or filings in connection with the perfection of security interests granted pursuant to the Collateral Documents, (iv) filings with the United States Patent and Trademark Office and the United States Copyright Office and comparable offices in foreign jurisdiction and equivalent filings in foreign jurisdictions and (v) such registrations, filings, consents, approvals, notices or other actions that, if not obtained or made, would not reasonably be likely to have a material adverse effect on the ability of the Issuers to perform their respective obligations under this Agreement or the transactions contemplated hereby.  

(h)Following the Cleansing Disclosures (as defined below), Mallinckrodt Parent shall have disclosed all material, non-public information regarding the Mallinckrodt Group (if any) provided or made available to the Noteholder Parties or their Representatives (as defined in the Confidentiality Agreement (as defined below)) by Mallinckrodt Parent or any of its Representatives in connection with the transactions contemplated by this Agreement or otherwise on or prior to the date hereof.  Notwithstanding anything contained in this Agreement to the contrary and without implication that the contrary would otherwise be true, after giving effect to the Cleansing Disclosures, Mallinckrodt Parent expressly acknowledges and agrees that the Noteholder Parties and their affiliates shall not have any duty of trust or confidence with respect to, or a duty not to trade on the basis of, any information regarding the Mallinckrodt Group provided (i) on or prior to the date of such Cleansing Disclosure in connection with the transactions contemplated by this Agreement or otherwise or (ii) in violation of the last sentence of Section 4(g) below, in each case to the Noteholder Parties or their Representatives by Mallinckrodt Parent, the Issuers or any of their respective Representatives.

Section 4.Covenants.  

(a)Each Issuer covenants and agrees that it will (i) commence the Exchange Offers and the Consent Solicitations by November 5, 2019 in accordance with the terms set forth herein and (ii) use commercially reasonable efforts to cause the conditions to the Exchange Offers and the Consent Solicitations set forth in the Offering Memorandum to be satisfied as promptly as practicable.  The Noteholder Parties acknowledge and agree that nothing in this Agreement shall (x) require any Issuer to amend, modify or waive any of the terms or conditions of, or extend, the Exchange Offers or the Consent Solicitations, or (y) restrict the termination of any Exchange Offer or Consent Solicitation if any of the conditions thereto have not been satisfied notwithstanding compliance with clause (ii) of the preceding sentence.

(b)Each Issuer covenants and agrees that it will not (i) amend or modify so as to make materially more difficult to satisfy any of the conditions to the Exchange Offers or the Consent Solicitations set forth in the Offering Memorandum, or (ii) amend, modify or waive any of the terms or conditions of the Exchange Offers or the Consent Solicitations set forth in the Offering Memorandum in a manner materially adverse to the Noteholder Parties (it being understood that (x) changes in timing reasonably determined by the Issuers to be required under law or required to be made if the Noteholder Parties do not timely comply with their obligations pursuant to this Agreement, the making of additional informational disclosures regarding any member(s) of the Mallinckrodt Group and the matters set forth in Annex I will, in each of the foregoing cases, not be deemed adverse to the Noteholder Parties and (y) reduction in Total Offer Consideration or changes in the collateral package, or reduction in interest rates of or lengthening the maturity of the New Notes, in each case, shall be deemed materially adverse to the Noteholder Parties), in each case, without the prior written consent of each of the Noteholder Parties so adversely affected.  

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(c)Each Issuer covenants and agrees that (i) the New Notes and guarantees thereof will be issued pursuant to and in compliance with an applicable exemption or exemptions from registration under the Securities Act and (ii) the Exchange Offers will comply in all material respects with all applicable provisions of Section 14(e) of the Exchange Act and Regulation 14E thereunder.

(d)Each Noteholder Party covenants and agrees that it will not sell any of the New Notes to be received by such Noteholder Party pursuant to this Agreement unless such sale has been registered under the Securities Act and applicable state securities laws or an exemption from registration is available for such sale.

(e)If any Noteholder Party instructs the Issuers to register New Notes in the name of a person other than such Noteholder Party, such Noteholder Party will be responsible for the payment of any transfer, documentary, court, stamp or similar taxes (“Transfer Taxes”) imposed with respect to the tender of the Subject Notes.  In addition, if Transfer Taxes are imposed for any reason other than the transfer and tender to the Issuers, the amount of those Transfer Taxes, whether imposed on any Noteholder Party or any other person, will be payable by the applicable Noteholder Party or Parties.

(f)The Issuers shall be entitled to deduct and withhold such amounts as are required to be deducted and withheld under applicable U.S. federal, state, local and foreign tax law (including U.S. federal backup withholding) with respect to the exchange of the Subject Notes for the New Notes.  To the extent such amounts are deducted and withheld and paid over to the applicable taxing authority, such amounts shall be treated for all purposes of this Agreement as having been made to the person in respect of whom such deduction and withholding was made.

(g)Mallinckrodt Parent covenants and agrees that, on or prior to opening of trading on November 5, 2019, it shall disclose in accordance with the next sentence all material terms of the transactions contemplated by this Agreement and all Confidential Information (as defined in the Confidentiality Agreement, dated as of October 23, 2019, among Mallinckrodt Parent and Deerfield Management Company, L.P. (Series C) (the “Confidentiality Agreement”)), if any, in each case, that constitutes material non-public information regarding the Mallinckrodt Group (such disclosures, the “Cleansing Disclosures”).   Such Confidential Information shall be disclosed on Form 10-Q or Form 8-K filed or furnished in accordance with the Exchange Act.  Notwithstanding any affirmative disclosure obligations of Mallinckrodt Parent or the Issuers pursuant to the terms of this Agreement or anything else to the contrary contained herein, Mallinckrodt Parent and each Issuer shall not, and shall cause each of its respective officers, directors, employees, affiliates and agents to not, provide any Noteholder Party with any material non-public information with respect to the Mallinckrodt Group from and after the filing of the Cleansing Disclosures without the express prior written consent of such Noteholder Party, other than pursuant to customary “wall-crossing” procedures.

(h)If, prior to the Exchange Closing, any Issuer enters into an agreement with a holder of any Existing Notes other than the Noteholder Parties that entitles such holder to exchange its Existing Notes of any series for an aggregate principal amount of New Notes that is greater than the applicable Total Offer Consideration for such series of Existing Notes, or for consideration other than New Notes, the Issuers shall, upon the Noteholder Parties’ request, use commercially reasonable efforts to negotiate an amendment to this Agreement providing the Noteholder Parties with the opportunity to exchange their Existing Notes of such series for the same proportionate mix of consideration (subject to the same proportionate proration and/or cap, if applicable) as agreed with such other holder for the applicable series of Existing Notes.

Section 5.Agreement to Exchange Subject Notes and Deliver Consents; Additional Exchanges.  

(a)The Parties’ obligations to consummate the closing of the Exchange (the “Exchange Closing”) shall be subject only to the condition that the Settlement Date shall be occurring on the same date as the Exchange Closing (the date of the Exchange Closing, the “Exchange Closing Date”).  Each Noteholder Party agrees (i) to exchange, at the Exchange Closing, all of the Subject Notes for the applicable Total Offer Consideration (including the Early Participation Premium) on the terms set forth in the Offering Memorandum (including the terms of the New Notes), it being understood that the Exchange shall not be subject to the proration that is applicable to the Exchange Offers for the Existing Non-2020 Notes set forth in the Offering Memorandum, and (ii) to deliver, at or prior to the Exchange Closing, its consents to the Proposed Amendments pursuant to the terms and conditions set forth in the Offering Memorandum.  

(b)Each Noteholder Party shall have the option, from the period beginning immediately after the Exchange Closing and ending on the day that is 60 calendar days after the Exchange Closing Date (the “Additional Exchange Period”), to exchange any Existing Notes of which such Noteholder Party becomes the beneficial owner (or becomes the discretionary investment manager, advisor or sub-advisor with authority to bind the beneficial owner of such Existing Notes, including Existing Notes that become held through a custodial account beneficially owned by such Noteholder 

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Party) after the execution hereof (collectively, the “Additional Notes”) with the Issuers for the same Total Offer Consideration that applies to the applicable series of Existing Notes in the Exchange (an “Additional Exchange”); provided, that the aggregate principal amount of New Notes to be issued in Additional Exchanges shall not exceed $100,000,000; provided, further, that the aggregate principal amount of New Notes to be issued in Additional Exchanges for Existing Non-2020 Notes shall not exceed $75,000,000.  Each Noteholder Party that desires to exercise its option to effect an Additional Exchange shall deliver a written notice to the Issuers during the Additional Exchange Period irrevocably electing to effect an Additional Exchange and specifying the aggregate principal amount of each series of Existing Notes to be exchanged pursuant thereto.  The closing of an Additional Exchange (the “Additional Exchange Closing”) shall occur on the date that is six (6) business days after the written notice specified in the preceding sentence is received by the Issuers (the “Additional Exchange Closing Date”).  There shall be no more than five Additional Exchanges; provided that the aggregate principal amount of New Notes to be issued in each Additional Exchange shall not be less than the lesser of (x) $10,000,000 and (y) the entire remaining amount available with respect to Additional Exchanges.

(c)On the Exchange Closing Date and each Additional Exchange Closing Date (if any), each Noteholder Party shall deliver (i) the Subject Notes and the Additional Notes (if any), as applicable, to such account or accounts as the Issuers shall specify prior to the Exchange Closing Date or Additional Exchange Closing Date, as applicable, by book-entry transfer through the facilities of The Depository Trust Company (“DTC”) or otherwise as agreed by the Issuers and such Noteholder Party and (ii) a properly completed and executed IRS Form W-9 to the Issuers.

(d) On the Exchange Closing Date and each Additional Exchange Closing Date (if any), the Issuers shall deliver, or shall cause to be delivered, to each Noteholder Party, against delivery of the Subject Notes or the Additional Notes (if any), as applicable, to be exchanged therefor, one or more certificates in global form for the applicable New Notes to be received in exchange for the Subject Notes or Additional Notes (if any) hereunder, registered in the name of DTC or its nominee, and in the aggregate principal amount of the applicable New Notes equal to the applicable Total Offer Consideration for each $1,000 principal amount of Subject Notes so delivered and credited to such DTC or other account as such Noteholder Party directs.

Section 6.Restrictions on Subject Notes.  During the term of this Agreement, each Noteholder Party agrees that it will not (a) tender any Subject Notes into any of the Exchange Offers or (b) without the prior written consent of the Issuers, other than pursuant to the terms hereof, directly or indirectly, by operation of law or otherwise, sell, transfer, pledge, deposit, hypothecate, assign or otherwise dispose of (including by gift) or encumber, or enter into any contract, agreement, arrangement or understanding with respect to the sale, transfer, conversion, pledge, deposit, hypothecation, assignment or other disposition or encumbrance of, any Subject Notes held by such party to any person or entity (each, a “Transfer”).  This Agreement shall in no way be construed to preclude any Noteholder Party from acquiring additional Existing Notes after the execution of this Agreement; provided, that any such Existing Notes acquired after the execution of this Agreement shall, upon acquisition, not become Subject Notes subject to the terms of this Agreement, and no member of the Mallinckrodt Group shall have any obligation to purchase such additional Existing Notes other than pursuant to the applicable Exchange Offer (to the extent validly tendered pursuant thereto and not validly withdrawn) or any Additional Exchange (to the extent validly exercised); and provided, further, that nothing contained herein shall prevent or prohibit any Noteholder Party from tendering such additional Existing Notes in the applicable Exchange Offer.  Any purported Transfer of the Subject Notes in violation of this Section 6 will be null and void ab initio.  

Section 7.Further Assurances.  Each of the Parties hereby further covenants and agrees to use their reasonable best efforts, as expeditiously as possible and during the term of this Agreement, to perform their respective obligations under this Agreement and take such actions as may be reasonably necessary under this Agreement to consummate the Exchange, the Exchange Offers and the Consent Solicitations.  

Section 8.Termination.  

(a)This Agreement and the obligations of the Parties hereunder will terminate:

(i)upon the earliest of (A) the mutual written consent of the Parties; (B) the later of (1) the expiration of the Additional Exchange Period and (2) if there is an Additional Exchange in respect of which the Additional Exchange Closing Date has not occurred on or prior to the expiration of the Additional Exchange Period, the Additional Exchange Closing Date with respect to such Additional Exchange; and (C) the termination of the Exchange Offers prior to the consummation thereof;

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(ii)as to the Noteholder Parties at the sole discretion of the Noteholder Parties, upon written notice delivered to the Issuers (or, in the case of clause (C) below, automatically and without notice from the Noteholder Parties), if at any time: (A) any Issuer has (1) (x) breached Section 4(b) (disregarding for this purpose the references to “materially” in clauses (i) and (ii) thereof) or (y) materially breached any of its other covenants or agreements or (2) materially breached its representations or warranties (or, in the case of any representation or warranty set that is qualified by material adverse effect, breached such representation or warranty) (each, a “Terminating Company Breach”), provided, if such Terminating Company Breach is capable of being cured, that such Terminating Company Breach has not been cured within five (5) business days following written notice of such breach to the Issuers; (B) a material adverse effect on (1) the general affairs, business, consolidated financial condition or consolidated results of operations of Mallinckrodt plc and its subsidiaries taken as a whole or (2) the ability of the Issuers to perform their respective obligations under this Agreement or the transactions contemplated hereby has, in either case, occurred since the date of this Agreement (provided, that none of (x) any change in the trading prices of any securities or loans of the Mallinckrodt Group, in and of itself, or (y) the execution, delivery or performance of this Agreement or the consummation of the transactions contemplated hereby, the public announcement of any of the foregoing, or any actions expressly required by, or the failure to take any action expressly prohibited by, the terms of this Agreement, shall constitute such a material adverse effect); (C) any of Mallinckrodt Parent or another member of the Mallinckrodt Group (or members collectively) that would, individually or in the aggregate, constitute a “Significant Subsidiary” of Mallinckrodt Parent (within the meaning of Rule 1-02 under Regulation S-X promulgated by the United States Securities and Exchange Commission) (a “Significant Subsidiary”) has or have commenced any voluntary case seeking relief under Title 11 of the United States Code entitled “Bankruptcy”, as now or hereafter in effect, or any other similar federal or state law (a “Bankruptcy Law”), or a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that is for relief against Mallinckrodt Parent or any Significant Subsidiary (or entities that in the aggregate would constitute a Significant Subsidiary) in an involuntary case and such order or decree remains unstayed and in effect for 60 days, (D) the Exchange Closing has not occurred in accordance with the terms hereof on or prior to December 20, 2019, (E) any Issuer amends or modifies the terms or conditions of the Exchange Offers set forth in the Offering Memorandum, or enters into an agreement with a holder of any Existing Notes other than the Noteholder Parties, in either case to provide for the exchange of Existing Notes for notes other than the New Notes or (F) any Issuer enters into an agreement with a holder of any Existing Notes other than the Noteholder Parties that entitles such holder to participate in the Exchange Offers or any similar exchange on terms or conditions with respect to economics (including Total Offer Consideration) that are more favorable to such holder in any material respect than the terms and conditions applicable to the Exchange by the Noteholder Parties; and 

(iii)as to the Noteholder Parties at the sole discretion of the Issuers, upon written notice delivered to the Noteholder Parties, if any Noteholder Party has (A) materially breached its covenants or agreements or (B) materially breached any of its representations or warranties (or, in the case of any representation or warranty that is qualified by “material adverse effect”, “materiality” or other materiality qualifier, breached such representation or warranty) (each, a “Terminating Noteholder Party Breach”), provided, if such Terminating Noteholder Party Breach is capable of being cured, that such Terminating Noteholder Party Breach has not been cured within five (5) business days following written notice of such breach to the Noteholder Parties. 

(b)Notwithstanding anything herein to the contrary, no termination of this Agreement shall relieve or otherwise limit the liability of any Party for any breach of this Agreement occurring prior to such termination.  Section 12 shall survive termination of this Agreement.     

Section 9.Agreements Coupled with an Interest.  The agreements contained herein relating to tendering and delivery of consents are coupled with an interest and, except as expressly contemplated herein, may not be revoked during the term of this Agreement.

Section 10.Waivers and Amendments.  This Agreement may be amended, modified, altered or supplemented only by a written instrument executed by all of the Parties.  Any failure of a Party to comply with any obligation, covenant, agreement or condition in this Agreement may be waived by the Party or Parties entitled to the benefits thereof only by a written instrument signed by the Party or Parties granting such waiver.  No delay on the part of any Party in exercising any right, power or privilege under this Agreement will operate as a waiver thereof; nor will any waiver on the part of any party to this Agreement of any right, power or privilege under this Agreement operate as a waiver of any other right, power or privilege under this Agreement, nor will any single or partial exercise of any right, power or privilege under this Agreement preclude any other or further exercise thereof or the exercise of any other right, power or privilege under this Agreement.

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Section 11.Holder Waiver.  Each Noteholder Party acknowledges and agrees that the exchange of any Existing Notes pursuant to the Exchange or any Additional Exchange shall effect a Holder Waiver with respect to such Existing Notes and the related Indenture.

Section 12.Miscellaneous.

(a)Notices.  Any notices or other communications required or permitted under, or otherwise given in connection with, this Agreement will be in writing and will be deemed to have been duly given (i) when delivered or sent if delivered in Person by courier service or messenger or sent by email or (ii) on the next business day if transmitted by international overnight courier, in each case as follows:

If to any Issuer or Mallinckrodt Parent, addressed to:
Mallinckrodt International Finance S.A. 
124, boulevard de la Pétrusse
L - 2330 Luxembourg 
R.C.S. Luxembourg: B172865 
Attention: Marie Luporsi
Email: Marie.Luporsi@mnk.com
Phone: +352 27 17 72 11

with a copy to (for informational purposes only):
Wachtell, Lipton, Rosen & Katz
51 West 52nd Street
New York, New York 10019
Attention: Eric M. Rosof and Victor Goldfeld
Email: EMRosof@wlrk.com and VGoldfeld@wlrk.com 
Phone: (212) 403-1005

If to a Noteholder Party, addressed to it at the address set forth on such Noteholder Party’s signature page attached hereto.
with a copy to (for informational purposes only):
Sullivan & Cromwell LLP
125 Broad Street
New York, New York 10004
Attention: Ari B. Blaut
Email: blauta@sullcrom.com
Phone: (212) 558-1656

(b)Governing Law.  This Agreement will be governed by, and construed in accordance with, the laws of the State of New York, without regard to laws that may be applicable under conflicts of laws principles (whether of the State of New York or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of New York.

(c)Venue.  By execution and delivery of this Agreement, each of the Parties irrevocably and unconditionally agrees that any legal action, suit, or proceeding with respect to any matter under or arising out of or in connection with this Agreement, or for recognition or enforcement of any judgment rendered in any such action, suit, or proceeding, shall be brought in a court of competent jurisdiction located in the City of New York.  Each Party irrevocably waives any objection it may have to the venue of any action, suit, or proceeding brought in such court or to the convenience of the forum.

(d)Personal Jurisdiction.  By execution and delivery of this Agreement, each of the Parties irrevocably and unconditionally submits to the personal jurisdiction of a court of competent jurisdiction located in the City of New York for purposes of any action, suit or proceeding arising out of or relating to this Agreement.

(e)Waiver of Jury Trial.  EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY THAT MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT 

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ISSUES, AND THEREFORE IT HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.  EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (i) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE EITHER OF SUCH WAIVERS, (ii) IT UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF SUCH WAIVERS, (iii) IT MAKES SUCH WAIVERS VOLUNTARILY, AND (iv) IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 12(E).

(f)Remedies.  The Parties agree that irreparable damage would occur in the event that any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached.  It is accordingly agreed that the Parties will be entitled to seek an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the terms and provisions hereof in any court of appropriate jurisdiction, this being in addition to any other remedy to which they are entitled at law or in equity.  Except as otherwise provided in this Agreement, any and all remedies in this Agreement expressly conferred upon a Party will be deemed cumulative with and not exclusive of any other remedy conferred hereby, or by law or equity upon such Party, and the exercise by a party of any one remedy will not preclude the exercise of any other remedy.

(g)Severability.  If any term or other provision of this Agreement is determined to be invalid, illegal or incapable of being enforced by any rule of law or public policy, all other conditions and provisions of this Agreement will nevertheless remain in full force and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any Party.  Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the Parties will negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in an acceptable manner to the end that transactions contemplated hereby are fulfilled to the extent possible.

(h)Assignment.  This Agreement and the rights and obligations hereunder may not be assigned or otherwise transferred by any Party by operation of law or otherwise without the prior written consent of the other Parties; provided that any Noteholder Party may assign its respective rights hereunder to any of the other Noteholder Parties (including any affiliate of the Noteholder Parties that agrees to become a party hereto pursuant to a customary joinder reasonably acceptable to the Parties) (it being understood that no such assignment shall relieve any Noteholder Party of its obligations hereunder).  Subject to the preceding sentence, this Agreement will be binding upon, inure to the benefit of, and be enforceable by the Parties and their respective permitted successors and assigns.  Any assignment in violation of the foregoing shall be null and void ab initio.

(i)No Third-Party Beneficiaries.  Unless expressly stated or referred to herein, this Agreement shall be solely for the benefit of the Parties and no other person or entity shall be a third-party beneficiary of this Agreement.

(j)Prior Agreements.  This Agreement supersedes all prior negotiations and agreements among the Parties with respect to the matters set forth herein.

(k)Counterparts.  This Agreement may be executed in one or more counterparts (which may include counterparts delivered by any standard form of telecommunication), and by the different Parties in separate counterparts, each of which when executed will be deemed to be an original but all of which taken together will constitute one and the same agreement. Facsimile copies or “PDF” or similar electronic data format copies of signatures shall constitute original signatures for all purposes of this Agreement and any enforcement hereof.

(l)Headings.  The headings contained in this Agreement are for reference purposes only and will not affect in any way the meaning or interpretation of this Agreement.

(m)Acknowledgement.  This Agreement is not and shall not be deemed to be a solicitation for any Exchange Offer or any Consent Solicitation.

(n)Interpretation.  This Agreement is the product of negotiations among the Parties, and in the enforcement or interpretation hereof, is to be interpreted in a neutral manner, and any presumption with regard to interpretation for or against any Party by reason of that Party having drafted or caused to be drafted this Agreement, or any portion hereof, shall not be effective in regard to the interpretation hereof.

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IN WITNESS WHEREOF, each of the undersigned has executed this Agreement as of the date first above set forth. 
	
		
	MALLINCKRODT INTERNATIONAL FINANCE S.A.

	By:
	 

	 
	Name:

	 
	Title:

	 
	 

	 
	 

	 
	 

	 
	 

	MALLINCKRODT CB LLC

	By:
	 

	 
	Name:

	 
	Title:

	 
	 

	 
	 

	 
	 

	 
	 

	MALLINCKRODT PLC (for purposes of Sections 3(e)-(h) and 4(g) only)

	By:
	 

	 
	Name:

	 
	Title:

IN WITNESS WHEREOF, the undersigned has executed this Agreement as of the date first above set forth.
	
		
	NOTEHOLDER PARTIES

	 

	DEERFIELD PARTNERS, L.P.

	 

	By:
	 

	Name:
	 

	Title:
	 

	Address:
	 

	 
	 

	 
	 

	DEERFIELD SPECIAL SITUATIONS FUND, L.P.

	 

	By:
	 

	Name:
	 

	Title:
	 

	Address:
	 

	 
	 

	 
	 

	DEERFIELD PRIVAE DESIGN FUND IV, L.P.

	 

	By:
	 

	Name:
	 

	Title:
	 

	Address:

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