Document:

EX-4.1

 Exhibit 4.1 
  

			
	 7.875% Series C Cumulative Redeemable
 Perpetual
Preferred Stock, Par Value $0.01
	  	 7.875% Series C Cumulative Redeemable

Perpetual Preferred Stock, Par Value $0.01

 

					
	 Number
	  	 	  	 Shares

	 PR C
	  	    

    	  	

  

			
		  	CUSIP 83600C 400
	 INCORPORATED UNDER THE LAWS
 OF THE STATE OF
MARYLAND
	  	 SEE REVERSE FOR IMPORTANT NOTICE ON

TRANSFER RESTRICTIONS AND OTHER

INFORMATION

			
		
	 THIS CERTIFIES THAT
  

is the owner of
	  	

 FULLY PAID AND NONASSESSABLE SHARES OF 7.875% SERIES C CUMULATIVE REDEEMABLE PERPETUAL PREFERRED STOCK, $0.01
PAR VALUE PER SHARE OF 
 SOTHERLY HOTELS INC. 

(the “Corporation”) transferable on the books of the Corporation by the holder hereof in person or by its duly authorized attorney upon the
surrender of this Certificate properly endorsed. This Certificate and the shares represented hereby are issued and shall be held subject to all of the provisions of the charter of the Corporation (the “Charter”) and the Bylaws of the
Corporation and any amendments or supplements thereto. This Certificate is not valid until countersigned by the Transfer Agent and registered by the Registrar. 

IN WITNESS WHEREOF, the said Corporation has caused this Certificate to be signed by its duly authorized officers and to be sealed with the
Seal of the Corporation. 
 Dated: 
  

					
	  
	 		  	  

	Secretary	 		  	President

 COUNTERSIGNED AND REGISTERED: 

AMERICAN STOCK TRANSFER & TRUST COMPANY, LLC     

TRANSFER AGENT AND REGISTRAR,     
  

			
	BY	 	  

		 	AUTHORIZED SIGNATURE

 SOTHERLY HOTELS INC. 

IMPORTANT NOTICE CLASSES OF STOCK 

THE CORPORATION WILL FURNISH TO ANY STOCKHOLDER, ON REQUEST AND WITHOUT CHARGE, A FULL STATEMENT OF THE INFORMATION REQUIRED BY SECTION 2-211(B) OF THE CORPORATIONS AND ASSOCIATIONS ARTICLE OF THE ANNOTATED CODE OF MARYLAND WITH RESPECT TO THE DESIGNATIONS AND ANY PREFERENCES, CONVERSION AND OTHER RIGHTS, VOTING POWERS, RESTRICTIONS, LIMITATIONS AS
TO DIVIDENDS AND OTHER DISTRIBUTIONS, QUALIFICATIONS, AND TERMS AND CONDITIONS OF REDEMPTION OF THE STOCK OF EACH CLASS WHICH THE CORPORATION HAS AUTHORITY TO ISSUE AND, IF THE CORPORATION IS AUTHORIZED TO ISSUE ANY PREFERRED OR SPECIAL CLASS IN
SERIES, (I) THE DIFFERENCES IN THE RELATIVE RIGHTS AND PREFERENCES BETWEEN THE SHARES OF EACH SERIES TO THE EXTENT SET, AND (II) THE AUTHORITY OF THE BOARD TO SET SUCH RIGHTS AND PREFERENCES OF SUBSEQUENT SERIES. THE FOREGOING SUMMARY DOES
NOT PURPORT TO BE COMPLETE AND IS SUBJECT TO AND QUALIFIED IN ITS ENTIRETY BY REFERENCE TO THE CHARTER OF THE CORPORATION (THE “CHARTER”), A COPY OF WHICH WILL BE SENT WITHOUT CHARGE TO EACH STOCKHOLDER WHO SO REQUESTS. SUCH REQUEST MUST
BE MADE TO THE SECRETARY OF THE CORPORATION AT ITS PRINCIPAL OFFICE OR TO THE TRANSFER AGENT. 
 RESTRICTION ON OWNERSHIP AND TRANSFER

 THE SHARES OF SERIES C PREFERRED STOCK REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON BENEFICIAL AND CONSTRUCTIVE
OWNERSHIP AND TRANSFER. SUBJECT TO CERTAIN FURTHER RESTRICTIONS AND EXCEPT AS EXPRESSLY PROVIDED IN THE CORPORATION’S CHARTER, INCLUDING THE ARTICLES SUPPLEMENTARY FOR THE SERIES C PREFERRED STOCK, (I) NO PERSON MAY BENEFICIALLY OR
CONSTRUCTIVELY OWN SHARES OF THE CORPORATION’S SERIES C PREFERRED STOCK IN EXCESS OF NINE AND NINE-TENTHS PERCENT (9.9%) OF THE OUTSTANDING SHARES OF SERIES C PREFERRED STOCK OF THE CORPORATION UNLESS SUCH PERSON IS AN EXCEPTED SERIES C HOLDER
(IN WHICH CASE THE EXCEPTED SERIES C HOLDER LIMIT SHALL BE APPLICABLE); (II) NO PERSON MAY BENEFICIALLY OR CONSTRUCTIVELY OWN SHARES OF CAPITAL STOCK OF THE CORPORATION IN EXCESS OF NINE AND NINE-TENTHS PERCENT (9.9%) OF THE VALUE OF THE TOTAL
OUTSTANDING CAPITAL STOCK OF THE CORPORATION UNLESS SUCH PERSON IS AN EXCEPTED HOLDER (IN WHICH CASE THE EXCEPTED HOLDER LIMIT SHALL BE APPLICABLE); (III) NO PERSON MAY BENEFICIALLY OR CONSTRUCTIVELY OWN SHARES OF THE CORPORATION’S SERIES C
PREFERRED STOCK THAT, TAKING INTO ACCOUNT ANY OTHER CAPITAL STOCK OF THE CORPORATION BENEFICIALLY OR CONSTRUCTIVELY OWNED BY SUCH PERSON, WOULD RESULT IN THE CORPORATION BEING “CLOSELY HELD” UNDER SECTION 856(H) OF THE INTERNAL
REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) OR OTHERWISE CAUSE THE CORPORATION TO FAIL TO QUALIFY AS A REIT; (IV) NO PERSON MAY TRANSFER SHARES OF THE CORPORATION’S SERIES C PREFERRED STOCK TO THE EXTENT SUCH TRANSFER WOULD
RESULT IN THE CAPITAL STOCK OF THE CORPORATION BEING BENEFICIALLY OWNED BY FEWER THAN ONE HUNDRED (100) PERSONS (DETERMINED WITHOUT REFERENCE TO ANY RULES OF ATTRIBUTION),(V) NO PERSON MAY CONSTRUCTIVELY OWN SHARES OF CAPITAL STOCK OF THE
CORPORATION THAT WOULD CAUSE THE CORPORATION TO CONSTRUCTIVELY OWN TEN PERCENT (10%) OR MORE OF THE OWNERSHIP INTERESTS IN A TENANT OF THE CORPORATION’S REAL PROPERTY, WITH THE MEANING OF SECTION 856(D)(2)(B) OF THE CODE AND (VI) NO
PERSON SHALL CONSTRUCTIVELY OWN SHARES OF CAPITAL STOCK OF THE CORPORATION TO THE EXTENT SUCH CONSTRUCTIVE OWNERSHIP WOULD CAUSE ANY “ELIGIBLE INDEPENDENT CONTRACTOR” THAT OPERATES A “QUALIFIED LODGING FACILITY” ON BEHALF OF A
“TAXABLE REIT SUBSIDIARY” OF THE CORPORATION (AS SUCH TERMS ARE DEFINED IN SECTION 856(D)(9)(A), SECTION 856(D)(9)(D) AND SECTION 856(L) OF THE CODE, RESPECTIVELY) TO FAIL TO QUALIFY AS SUCH. ANY PERSON WHO BENEFICIALLY OR
CONSTRUCTIVELY OWNS OR ATTEMPTS TO BENEFICIALLY OR CONSTRUCTIVELY OWN SHARES OF SERIES C PREFERRED STOCK WHICH CAUSES OR WILL CAUSE A PERSON TO BENEFICIALLY OR CONSTRUCTIVELY OWN SHARES OF SERIES C PREFERRED STOCK IN EXCESS OR IN VIOLATION OF THE
ABOVE LIMITATIONS MUST IMMEDIATELY NOTIFY THE CORPORATION. IF ANY OF THE RESTRICTIONS ON TRANSFER OR OWNERSHIP ARE VIOLATED, THE SHARES OF SERIES C PREFERRED STOCK REPRESENTED HEREBY WILL BE AUTOMATICALLY TRANSFERRED TO A TRUSTEE OF A CHARITABLE
TRUST FOR THE BENEFIT OF ONE OR MORE CHARITABLE BENEFICIARIES. IN ADDITION, THE CORPORATION MAY REDEEM SHARES UPON THE TERMS AND CONDITIONS SPECIFIED BY THE BOARD IN ITS SOLE DISCRETION IF THE BOARD DETERMINES THAT THE OWNERSHIP OR A TRANSFER OR
OTHER EVENT MAY VIOLATE THE RESTRICTIONS DESCRIBED ABOVE. FURTHERMORE, UPON THE OCCURRENCE OF CERTAIN EVENTS, ATTEMPTED TRANSFERS IN VIOLATION OF THE RESTRICTIONS DESCRIBED ABOVE MAY BE VOID AB INITIO. ALL TERMS IN THIS LEGEND WHICH
ARE DEFINED IN THE ARTICLES SUPPLEMENTARY FOR THE SERIES C PREFERRED STOCK SHALL HAVE THE MEANINGS ASCRIBED TO THEM IN SUCH ARTICLES SUPPLEMENTARY, AS THE SAME MAY BE AMENDED FROM TIME TO TIME, A COPY OF WHICH, INCLUDING THE RESTRICTIONS ON TRANSFER
AND OWNERSHIP, WILL BE FURNISHED TO EACH HOLDER OF SERIES C PREFERRED STOCK ON REQUEST AND WITHOUT CHARGE. 
 The following abbreviations,
when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable laws or regulations: 
  

													
	TEN COM	  	- as tenants in common	  		  	UNIF GIFT MIN ACT	  	                        	  	Custodian	  	                            
	TEN ENT	  	- as tenants by the entireties	  		  		  	(Cust)	  		  	(Minor)
	JT TEN	  	- as joint tenants with right of survivorship and not as tenants in common	  		  		  	 Under Uniform Gifts to Minors
 Act
                                         
       

                        
(State)

 Additional abbreviations may also be used though not in the above list. 

For Value received,
                                         
    hereby sell, assign and transfer unto 
  

					
	 PLEASE INSERT SOCIAL SECURITY OR
 OTHER
IDENTIFYING NUMBER OF ASSIGNEE
	 	 	 	

  

	
	  

	PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE

                          
               shares of the capital stock represented by the within Certificate, and do hereby irrevocably constitute 

and appoint
                                         
                                         
                           Attorney to transfer the said stock on the books of the within named Corporation with
full power of substitution in the premises. 
  

									
	Dated:	 	  
	 		 	NOTICE:	  	The signature to this assignment must correspond with the name as written upon the face of the certificate in every particular, without alteration or enlargement or any change whatever.EX-10.1

 Exhibit 10.1 

AMENDMENT NO. 2 
 TO

 CREDIT AGREEMENT 

This AMENDMENT NO. 2, dated as of October 10, 2017 (this “Amendment”), to the Credit Agreement, dated as of
December 7, 2016 (as amended by Amendment No. 1, dated as of April 7, 2017, and as further amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among Conduent
Incorporated, a New York corporation (“Holdings”), Conduent Business Services, LLC (f/k/a Xerox Business Services, LLC), a Delaware limited liability company (the “U.S. Borrower”), Affiliated Computer Services
International B.V., a private limited company (besloten vennootschap met beperkte aansprakelijkheid) organized under the laws of the Netherlands, having its official seat in Amsterdam, the Netherlands and registered in the Trade Register of
the Dutch Chamber of Commerce under number 34160388 (the “Dutch Borrower” and, together with the U.S. Borrower, the “Borrowers”), Conduent Finance, Inc., a Delaware corporation (“Conduent Finance”),
the Lenders or other financial institutions or entities from time to time party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent (the “Administrative Agent”). Capitalized terms used herein and not otherwise defined
herein shall have the meanings ascribed to them in the Credit Agreement. 
 W I T N E S S E T H: 

WHEREAS, the Borrowers have requested to amend the Credit Agreement to effect the changes described below; 

WHEREAS, Citibank, N.A., JPMorgan Chase Bank, N.A., Merrill Lynch, Pierce, Fenner & Smith Incorporated, BNP Paribas Securities
Corp., Credit Suisse Securities (USA) LLC, Goldman Sachs Bank USA, Mizuho Bank, Ltd., KeyBanc Capital Markets Inc., The Bank of Tokyo-Mitsubishi UFJ, Ltd., PNC Capital Markets LLC, SunTrust Robinson Humphrey, Inc. and U.S. Bank, National Association
will act as joint lead arrangers and joint bookrunning managers for purposes of this Amendment (the “Amendment No. 2 Lead Arrangers”); and 

WHEREAS, each Lender holding Term B Loans or First Incremental Term Loans (the Term B Loans and the First Incremental Term Loans,
collectively, the “Existing Term B Loans”, and the Lenders with Existing Term B Loans, the “Existing Term B Lenders”) and each other Lender that executes and delivers a consent (a “Consent”) in the
form of Exhibit A to this Amendment by 5:00 p.m., New York City time on September 12, 2017 (the “Consent Deadline”) will have agreed to the terms of this Amendment upon the effectiveness of this Amendment on the Amendment
No. 2 Effective Date (as defined below). 
 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 the Credit Agreement. 

The Credit Agreement is, effective as of the Amendment No. 2 Effective Date (as defined below), hereby as follows: 

(a)    The following new defined terms are added to Section 1.01 of the Credit Agreement in
appropriate alphabetical order: 

 “Amendment No. 2 Effective Date” means October 10, 2017. 

“Amendment No. 2” means that certain Amendment No. 2 to this Agreement, dated as of the Amendment No. 2
Effective Date, among Holdings, the Borrowers, Conduent Finance, the Administrative Agent and the Lenders party thereto. 

(b)    The definition of “Applicable Rate” in Section 1.01 of the Credit Agreement
is amended by replacing clauses (c) and (d) thereof with the following: 
 “(c) (i) 4.00%, in the case of Eurocurrency
Term B Loans and Eurocurrency First Incremental Term Loans, for any day prior to the Amendment No. 2 Effective Date, and (ii) 3.00%, in the case of Eurocurrency Term B Loans and Eurocurrency First Incremental Term Loans, for any day on or
after the Amendment No. 2 Effective Date, (d) (i) 3.00%, in the case of Base Rate Term B Loans and Base Rate First Incremental Term Loans, for any day prior to the Amendment No. 2 Effective Date, and (ii) 2.00%, in the case
of Base Rate Term B Loans and Base Rate First Incremental Term Loans, for any day on or after the Amendment No. 2 Effective Date”. 

(c)    Section 2.10(a)(iii) of the Credit Agreement is amended by deleting both references to
“on or prior to the date that is six months after the Amendment No. 1 Effective Date” and replacing such references with “on or prior to the date that is six months after the Amendment No. 2 Effective Date”. 

(d)    Section 2.10(b)(iv) of the Credit Agreement is amended by amending and restating in its
entirety as follows: 
 “No later than the fifth Business Day after the date on which financial statements with respect to each fiscal
year of the U.S. Borrower are required to be delivered pursuant to Section 5.01(a) (beginning with the fiscal year ending December 31, 2017), the U.S. Borrower shall, subject to Section 2.10(b)(ix), prepay the then outstanding Term
Loans by an amount equal to (A) 50% of Excess Cash Flow of the U.S. Borrower and its Restricted Subsidiaries for the most recently completed fiscal year of the U.S. Borrower (provided that the foregoing percentage shall be reduced to 25%
when the Total Net Leverage Ratio calculated on a Pro Forma Basis as of the last day of the relevant fiscal year is equal to or less than 2.75 to 1.00 and 0% when the Total Net Leverage Ratio calculated on a Pro Forma Basis as of the last day of the
relevant fiscal year is equal to or less than 2.25 to 1.00) minus (B) the principal amount of (1) any Term Loans, and, to the extent pari passu with the Term Loans in right of payment and with respect to security, Incremental Term
Loans, Incremental Equivalent Debt, Refinancing Term Loans and Refinancing Indebtedness in the form of term loans and (2) any Revolving Loans and Refinancing Indebtedness in the form of revolving loans (in each case, to the extent accompanied
by a permanent reduction of the relevant revolving commitment) voluntarily prepaid pursuant to clause (a) of this Section 2.10 or voluntarily prepaid or purchased pursuant to the applicable provisions of the documentation governing such
Refinancing Indebtedness, Incremental Equivalent Debt or Refinancing Term Loans, in each case, during such fiscal year on or, at the option of the U.S. Borrower, prior to the date of the required prepayment under this Section 2.10(b)(iv) in
respect of such fiscal year; provided  

  
 2 

 
that (x) no such voluntary prepayments or purchases shall reduce the payments required to be made under this Section 2.10(b)(iv) for more than one fiscal year and (y) no such
voluntary prepayments or purchases shall reduce the payments required to be made under this Section 2.10(b)(iv) to the extent financed with long-term Indebtedness (other than revolving Indebtedness). The amount of each such prepayment shall be
applied to the outstanding Term B Loans pro rata until paid in full. Any payment under this clause (iv) shall be an “ECF Payment.”” 

Section 2.    Conditions Precedent to the Effectiveness of this Amendment. 

This Amendment shall become effective as of the date first written above when, and only when, each of the following conditions precedent shall
have been satisfied or waived (the “Amendment No. 2 Effective Date”): 

(a)    Executed Counterparts. The Administrative Agent shall have received this Amendment, duly
executed by the Borrowers, Holdings, Conduent Finance, the Guarantors, the initial New Lender (as defined below) and the Administrative Agent. 

(b)    Executed Consents. The Administrative Agent shall have received a Consent in the form of
Exhibit A to this Amendment, duly executed by each Existing Term B Lender (excluding any Non-Consenting Lender (as defined below)) and other Lenders representing (i) the Required Term B Lenders and (ii) the Required Lenders immediately
prior to the Amendment No. 2 Effective Date, in each case, by the Consent Deadline. 

(c)    No Default or Event of Default. At the time of and immediately after giving effect to this
Amendment, no Default or Event of Default shall have occurred and be continuing. 

(d)    Representations and Warranties. The representations and warranties of the Borrowers set
forth in Section 3 of this Amendment shall be true and correct in all material respects (except that any representation and warranty that is qualified by materiality shall be true and correct in all respects) on and as of the Amendment
No. 2 Effective Date, except where any representation and warranty is expressly made as of a specific earlier date, such representation and warranty shall be true in all material respects as of any such earlier date. 

(e)    Officer’s Certificate. The Administrative Agent shall have received a certificate
signed by a Responsible Officer of the U.S. Borrower dated the Amendment No. 2 Effective Date certifying as to the satisfaction of the conditions set forth in paragraphs (c) and (d) of this Section 2. 

(f)    Fees and Expenses Paid. The fees and expenses set forth in the Fee Letter dated as of
September 8, 2017, among Holdings, the U.S. Borrower and the Amendment No. 2 Lead Arrangers, and the Fee Letter referred to therein that are required to be paid on or prior to the Amendment No. 2 Effective Date shall have been paid
(including, without limitation, the reasonable and documented fees and out-of-pocket expenses of counsel for such Amendment No. 2 Lead Arrangers and the Administrative Agent with respect thereto). 

(g)    Patriot Act. The initial New Lender shall have received, at least three Business Days prior
to the Amendment No. 2 Effective Date, all documentation and other information reasonably requested in writing by it at least ten Business Days prior to the Amendment No. 2 Effective Date in order to allow the initial New Lender to comply
with the Act. 

  
 3 

 Section 3.    Representations and Warranties. 

Each Loan Party represents and warrants to the Lenders as of the Amendment No. 2 Effective Date that: 

(a)    This Amendment has been duly authorized, executed and delivered by such Loan Party and constitutes
the legal, valid and binding obligation of such Loan Party enforceable against such Loan Party in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, reorganization, moratorium or other laws affecting
creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law; and 

(b)    The representations and warranties of the U.S. Borrower and each other Loan Party contained in
Article III of the Credit Agreement or any other Loan Document shall be true and correct in all material respects (except that any representation and warranty that is qualified by materiality shall be true and correct in all respects) on and as of
the date of this Amendment, except where any representation and warranty is expressly made as of a specific earlier date, such representation and warranty shall be true in all material respects as of any such earlier date. 

Section 4.    New Lenders and Non-Consenting Lenders. 

(a)    If any Existing Term B Lender (each, a “Non-Consenting Lender”) declines or fails to consent to
this Amendment by failing to return an executed Consent to the Administrative Agent prior to the Consent Deadline or elects to assign its Existing Term B Loans as provided in its executed Consent, then pursuant to and in compliance with the terms of
Section 2.18(b) of the Credit Agreement, such Non-Consenting Lender may be replaced and all of its interests, rights and obligations under the Credit Agreement and the related Loan Documents with respect to its Existing Term B Loans purchased
and assumed by either a new lender or an existing Lender which is willing to increase its Existing Term B Loans. As of the Amendment No. 2 Effective Date, each Non-Consenting Lender will be deemed to have executed an Assignment and Assumption
Agreement (“Assignment Agreement”) for all of its then outstanding Existing Term B Loans and will be deemed to have assigned all of its then outstanding Existing Term B Loans to Citibank, N.A. (the “New Lender”), in
each case pursuant to and in compliance with the terms of Section 2.18(b) of the Credit Agreement. 
 (b)    The
New Lender hereby (i) confirms that it has received a copy of the Credit Agreement and the other Loan Documents and the exhibits thereto, together with copies of the financial statements referred to therein and such other documents and
information as it has deemed appropriate to make its own credit analysis and decision to enter into this Amendment, (ii) agrees that it will, independently and without reliance upon the Administrative Agent or any other Lender and based on such
documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit Agreement, (iii) appoints and authorizes the Administrative Agent to take such actions
as agent on its behalf and to exercise such powers under the Credit Agreement and the other Loan Documents as are delegated to the Administrative Agent by the terms thereof, together with such powers as are reasonably incidental thereto and
(iv) agrees that it will perform in accordance with their terms all of the obligations which by the terms of the Credit Agreement are required to be performed by it as a Lender. 

(c)    The Administrative Agent hereby (i) consents to this Amendment and consents to the assignment of the then
outstanding Existing Term B Loans of each Non-Consenting Lender to the New Lender in accordance with Section 9.04 of the Credit Agreement and (ii) agrees that no assignment fees specified in Section 9.04 shall be required to be paid
by the Borrowers in connection with such assignment. 

  
 4 

 (d)    This Amendment shall constitute the notice required
under Section 2.18(b) of the Credit Agreement. 
 (e)    For the avoidance of doubt, all Existing
Term B Loans shall continue to be outstanding as Term B Loans or First Incremental Term Loans, as applicable, under the Credit Agreement (as amended hereby) on and after the Amendment No. 2 Effective Date, subject to the terms of this Amendment
and for the avoidance of doubt the Term B Loans and First Incremental Term Loans shall continue as the same Class of Term Loans for all purposes under the Credit Agreement. 

Section 5.    Fees and Expenses. 

The U.S. Borrower agrees to pay in accordance with the terms of Section 9.03 of the Credit Agreement all reasonable and documented
out-of-pocket expenses incurred by the Administrative Agent in connection with the preparation and administrative of this Amendment (including the reasonable and documented fees and out-of-pocket expenses of counsel for the Administrative Agent with
respect thereto, subject to the limitations set forth in Section 9.03 of the Credit Agreement). 

Section 6.    Reference to the Effect on the Loan Documents. 

(a)    As of the Amendment No. 2 Effective Date, each reference in the Credit Agreement to
“this Agreement,” “hereunder,” “hereof,” “herein,” or words of like import, and each reference in the other Loan Documents to the Credit Agreement (including, without limitation, by means of words like
“thereunder”, “thereof” and words of like import), shall mean and be a reference to the Credit Agreement as amended hereby, and this Amendment and the Credit Agreement shall be read together and construed as a single instrument.
Each of the table of contents and lists of Exhibits and Schedules of the Credit Agreement shall be amended to reflect the changes made in this Amendment as of the Amendment No. 2 Effective Date. 

(b)    Except as expressly amended hereby or specifically waived above, all of the terms and provisions of
the Credit Agreement and all other Loan Documents are and shall remain in full force and effect and are hereby ratified and confirmed. 

(c)    The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided
herein, operate as a waiver of any right, power or remedy of the Lenders, the Borrowers, Holdings, Conduent Finance, the Arrangers or the Administrative Agent under any of the Loan Documents, nor constitute a waiver or amendment of any other
provision of any of the Loan Documents or for any purpose except as expressly set forth herein. Each of the parties hereto acknowledge that this Amendment shall not be construed as a novation of the Credit Agreement. 

(d)    This Amendment is a Loan Document. 

Section 7.    Consent and Affirmation. 

(a)    Each of the Guarantors, in its capacity as a guarantor under the Guarantee Agreement and a Pledgor
under the Security Agreement or the Holdings Pledge Agreement, as the case may be, and as a party to each other Loan Document to which it is a party, hereby (i) consents to the execution, delivery and performance of this Amendment and agrees
that each of the Loan Documents to 

  
 5 

 
which it is a party is, and shall continue to be, in full force and effect and is hereby in all respects ratified and confirmed on the Amendment No. 2 Effective Date, except that, on and
after the Closing Date, each reference to the “Credit Agreement”, “thereunder”, “thereof”, “therein” or words of like import referring to the Credit Agreement shall mean and be a reference to the Credit
Agreement as amended and otherwise modified by this Amendment and (ii) affirms and confirms its guarantee of the Obligations and its pledge/or grant of a security interest in its assets as Collateral to secure the Obligations with all such
security interests continuing in full force and effect after giving effect to this Amendment and that the Loan Documents to which each of the Guarantors is a party and all of the Collateral described therein do, and shall continue to, secure the
payment of all of the Obligations. 
 (b)    The U.S. Borrower hereby (i) agrees that each of the
Loan Documents to which it is a party is, and shall continue to be, in full force and effect and is hereby in all respects ratified and confirmed on the Amendment No. 2 Effective Date, except that, on and after the Amendment No. 2
Effective Date, each reference to the “Credit Agreement”, “thereunder”, “thereof”, “therein” or words of like import referring to the Credit Agreement shall mean and be a reference to the Credit Agreement as
amended and otherwise modified by this Amendment and (ii) affirms and confirms its pledge/or grant of a security interest in its assets as Collateral to secure the Obligations with all such security interests continuing in full force and effect
after giving effect to this Amendment and that the Loan Documents to which it is a party and all of the Collateral described therein do, and shall continue to, secure the payment of all of the Obligations. 

Section 8.    Execution in Counterparts. 

This Amendment may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an
original, but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page of this Amendment by facsimile or .pdf shall be effective as delivery of a manually executed counterpart of
this Agreement. 
 Section 9.    Headings. 

The Section headings used herein are for convenience of reference only, are not part of this Amendment and shall not affect the construction
of, or be taken into consideration in interpreting, this Amendment. 
 Section 10.    Notices. 

All communications and notices hereunder shall be given as provided in the Credit Agreement. For purposes of the Credit Agreement, the initial
notice address of the initial New Lender shall be as separately identified to the Administrative Agent. 

Section 11.    Severability. 

Any provision of this Amendment held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be
ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof; and the invalidity of a particular provision in a particular jurisdiction
shall not invalidate such provision in any other jurisdiction. 

  
 6 

 Section 12.    Successors. 

The terms of this Amendment shall be binding upon, and shall inure to the benefit of, the parties hereto and their respective successors and
assigns. 
 Section 13.    Governing Law, Consent to Jurisdiction and Service of Process; Waiver of Jury
Trial. 
 The provisions of Sections 9.09 and 9.10 of the Credit Agreement are incorporated herein by reference, mutatis mutandis, as if
a part hereof. 
 [SIGNATURE PAGES FOLLOW] 

  
 7 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their
respective officers and general partners thereunto duly authorized, as of the date first written above. 
  

			
	 CONDUENT BUSINESS SERVICES, LLC

		
	 By:
	 	 /s/ Brian J. Webb-Walsh

		 	 Name: Brian J. Webb-Walsh

		 	 Title: Executive Vice President

	
	 CONDUENT INCORPORATED

		
	 By:
	 	 /s/ Brian J. Webb-Walsh

		 	 Name: Brian J. Webb-Walsh

		 	 Title: Executive Vice President and Chief Financial Officer

	
	 AFFILIATED COMPUTER SERVICES

INTERNATIONAL B.V.

		
	 By:
	 	 /s/ J. Michael Peffer

		 	 Name: J. Michael Peffer

		 	 Title: Director

	
	 CONDUENT FINANCE, INC.

		
	 By:
	 	 /s/ Brian J. Webb-Walsh

		 	 Name: Brian J. Webb-Walsh

		 	 Title: President

 Amendment No. 2 

  
 8 

			
	 CONDUENT HEALTH ADMINISTRATION, INC.

		
	 By:
	 	 /s/ Brian J. Webb-Walsh

		 	 Name: Brian J. Webb-Walsh

		 	 Title: President and Secretary

	
	 CONDUENT STATE HEALTHCARE, LLC

CONDUENT LENDING, INC.

		
	 By:
	 	 /s/ Brian J. Webb-Walsh

		 	 Name: Brian J. Webb-Walsh

		 	 Title: Chief Financial Officer

 CONDUENT HERITAGE, LLC 

CONDUENT EDI SOLUTIONS, INC. 

CONDUENT CARE AND QUALITY SOLUTIONS, INC. 

CONDUENT HUMAN SERVICES, LLC 

CONDUENT ENTERPRISE SOLUTIONS, LLC 

CONDUENT BPO SERVICES, INC. 

CONDUENT GOVERNMENT RECORDS SERVICES, INC. 

CONDUENT TITLE RECORDS CORPORATION 

CONDUENT GOVERNMENT SYSTEMS, LLC 

CONDUENT FEDERAL SOLUTIONS, LLC 

CONDUENT PUBLIC HEALTH SOLUTIONS, INC. 

THE NATIONAL ABANDONED PROPERTY PROCESSING CORPORATION 

CONDUENT UNCLAIMED PROPERTY SYSTEMS, INC. 

CONDUENT EDUCATION SOLUTIONS, LLC 

CONDUENT DEFENSE, LLC 

CONDUENT MIDDLE EAST, INC. 

CONDUENT PARKINDY LLC 

CONDUENT BUSINESS PROCESS OPTIMIZATION SERVICES, INC. 

CONDUENT TRANSPORT SOLUTIONS, INC. 

CONDUENT WORKERS COMPENSATION HOLDINGS, INC. 

CONDUENT CARE SOLUTIONS, LLC 

CONDUENT WORKERS COMPENSATION, LLC 

CONDUENT CREDIT BALANCE SOLUTIONS, LLC 

CONDUENT EDUCATION LOAN SERVICES LLC 

CONDUENT PAYMENT INTEGRITY SOLUTIONS, INC. 

CONDUENT PERFORMANCE IMPROVEMENT SOLUTIONS, INC. 

SUPERIOR VENTURE PARTNER, INC. 

CONDUENT IMAGE SOLUTIONS, INC. 

CONDUENT SECURITIES SERVICES, INC. 

CONDUENT HEALTHCARE INFORMATION SERVICES, INC. 

CONDUENT LEARNING SERVICES, INC. 

CONDUENT CUSTOMER CARE SOLUTIONS, INC. 

CONDUENT WIRELESS DATA SERVICES NORTH AMERICA, INC. 

CONDUENT WIRELESS DATA SERVICES (OPERATIONS), INC. 

CONDUENT WDS GLOBAL – TEXAS, INC. 

CONDUENT ASSET MANAGEMENT GROUP, LLC 

CONDUENT LEGAL & COMPLIANCE SOLUTIONS, LLC 

CONDUENT COMMERCIAL SOLUTIONS, LLC 

CONDUENT STATE & LOCAL SOLUTIONS, INC. 

CONDUENT BILL REVIEW CORPORATION 

CONDUENT HEALTH ASSESSMENTS, LLC 

CONDUENT MEDICAL EXAMS LLC 

CONDUENT PATIENT ACCESS SOLUTIONS, LLC 

CONDUENT MORTGAGE SERVICES, INC. 

CONDUENT CARE MANAGEMENT, INC. 

CONDUENT HR SERVICES, LLC 

CONDUENT TRADEONE MARKETING, INC. 

CONDUENT EDUCATION SERVICES, LLC 

CONDUENT HUMAN RESOURCE SERVICES, LLC

 CONDUENT HEALTHCARE KNOWLEDGE SOLUTIONS, INC. 

CONDUENT HEALTHY COMMUNITIES CORPORATION 

CONDUENT EDUCATION INDUSTRY SERVICES, LLC 

CONDUENT COMPLIANCE & RISK CONSULTING CORPORATION 

			
		
	 By:
	 	 /s/ Brian J. Webb-Walsh

		 	 Name: Brian J. Webb-Walsh

		 	 Title: Senior Vice President

 
 

			
	 CONDUENT HR CONSULTING, LLC

		
	 By:
	 	 /s/ J. Michael Peffer

		 	 Name: J. Michael Peffer

		 	 Title: Vice President and Secretary

	
	 CONDUENT SECURITIES, LLC

		
	 By:
	 	 /s/ Nicholas Medina

		 	 Name: Nicholas Medina

		 	 Title: President and Chief Compliance Officer

  

			
	 CONDUENT CARD SERVICES, LLC

		
	 By:
	 	 /s/ Sumeet Sanghani

		 	 Name: Sumeet Sanghani

		 	 Title: President and Secretary

 
			
	 CITIBANK, N.A., as initial New Lender

		
	 By:
	 	 /s/ Matthew Bashaw

		 	Name: Matthew Bashaw
		 	Title: Vice President

 Amendment No. 2 

  
 12 

 
			
	 JPMORGAN CHASE BANK, N.A.,
as Administrative Agent

		
	 By:
	 	 /s/ Peter Thauer

		 	Name: Peter Thauer
		 	Title: Managing Director

 Amendment No. 2 

  
 13 

 Exhibit A 

CONSENT TO AMENDMENT NO. 2 
 CONSENT
(this “Consent”) TO AMENDMENT NO. 2 (“Amendment”) to the Credit Agreement, dated as of December 7, 2016 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”), among Conduent Incorporated, a New York corporation (“Holdings”), Conduent Business Services, LLC (f/k/a Xerox Business Services, LLC), a Delaware limited liability company (the “U.S.
Borrower”), Affiliated Computer Services International B.V., a private limited company (besloten vennootschap met beperkte aansprakelijkheid) organized under the laws of the Netherlands, having its official seat in Amsterdam, the
Netherlands and registered in the Trade Register of the Dutch Chamber of Commerce under number 34160388 (the “Dutch Borrower” and, together with the U.S. Borrower, the “Borrowers”), Conduent Finance, Inc., a
Delaware corporation (“Conduent Finance”), the Lenders or other financial institutions or entities from time to time party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent (the “Administrative Agent”).
Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Amendment. 
 Term
B Lenders Only  
 Check the first or second box below 
  

			
	  
 ☐
	  	 Consent:
 The undersigned
Lender (including any New Lender) hereby irrevocably and unconditionally approves of and consents to the Amendment with respect to all Existing Term B Loans held by such Lender.

	  
 ☐
	  	 Consent and Post-Close Settle:

The undersigned Lender hereby irrevocably and unconditionally approves of and consents to the Amendment with respect to all
Existing Term B Loans held by
such Lender and elects to have all such Existing Term B Loans held by such Lender be assigned
on the Amendment No. 2 Effective Date to the New Lender (and is hereby deemed to execute the Assignment Agreement) and
purchase by assignment from
the New Lender Term B Loans in a principal amount equal to the principal amount of such
assigned Existing Term B Loans (or such lesser amount as notified and allocated to such Term B Lender by Citibank, N.A.).

 Term A Lenders Only 

			
	  
 ☐
	  	 Consent:
 The undersigned
Lender hereby irrevocably and unconditionally approves of and consents to the Amendment with respect to all Term A Loans held by such Lender.

 Revolving Lenders Only 

			
	  
 ☐
	  	 Consent:
 The undersigned
Lender hereby irrevocably and unconditionally approves of and consents to the Amendment with respect to all
Revolving Credit Exposure and Revolving Commitments of such Lender.

 

 Name of Lender:  _______________________________________________ 

					
			
	    by 	 		 	
		 	 
		 	Name:	 	
		 	Title:	 	

 For any Institution requiring a second signature line: 

					
			
	    by 	 		 	
		 	 
		 	Name:	 	

 

  
 14

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